8.7 Percent RevPAR Growth Produces Record Third Quarter for Innkeepers USA Trust; Company Reports 12 Percent FFO Per Share Growth.
Business Wire › October 31, 2000
Linked as:
Extract
8.7 Percent RevPAR Growth Produces Record Third Quarter for Innkeepers USA Trust; Company Reports 12 Percent FFO Per Share Growth.
Business Editors
PALM BEACH, Fla.--(BUSINESS WIRE)--Oct. 31, 2000 Innkeepers USA Trust (NYSE: KPA), a hotel real estate investment trust (REIT) and the nation's leading REIT owner of upscale, extended-stay hotel properties throughout the U.S., today announced results for the third quarter and nine months ended September 30, 2000. Funds from operations (FFO) for the 2000 third quarter rose 12 percent to $26.2 million from $23.3 million for the same period in 1999. FFO per share increased 12 percent to $0.56 per share, compared to $0.50 for the third quarter of 1999. EBITDA rose to $31.2 million from $28.1 million in the third quarter of 1999, an increase of 11 percent. Total revenue advanced to $38.7 million, up 12 percent from $34.7 million for the t...See the full content of this document
Sponsored links
