DES PLAINES, Ill. - Jan. 5, 2000-- Amerihost Properties,
Inc. (Nasdaq/NM: HOST) today announced that Same Room Revenue Per Available
Room (�RevPAR�) for the AmeriHost Inn® hotel brand increased by 9.7%
during the fourth quarter of 1999 compared to the fourth quarter of 1998.
This is the direct result of a 5.1% growth in occupancy for the AmeriHost
Inn® hotel brand to 55.2%, and a $2.37, or 4.4% growth in average daily
rate to $56.69. These results relate to the 71 AmeriHost Inn® hotels
that were open at least 13 full months as of December 31, 1999.
For the year ended December 31, 1999, Same Room RevPAR for the AmeriHost
Inn® hotel brand increased by 7.1%. This is the direct result of a
2.2% growth in occupancy for the AmeriHost Inn® hotel brand to 59.1%,
and a $2.57, or 4.7% growth in average daily rate, to $57.00. These results
relate to the 71 AmeriHost Inn® hotels that were open at least 13 full
months as of December 31, 1999.
�We
are very pleased with the Same Room RevPAR results of the AmeriHost Inn®
hotel brand for the quarter and year end,� said Michael P. Holtz, Chairman,
President & CEO of Amerihost Properties, Inc. �We believe these strong
4th Quarter RevPAR results can be attributed to a number of factors. First,
the Midwest experienced unseasonably warm weather in the fourth quarter,
which we believe helped extend the historically strong 3rd quarter travel
season. Second, and especially for the months of November and December,
holiday travelers took extended Thanksgiving, Christmas, and New Year�s
Eve weekends and stayed in hotels, rather than on the couch or in spare
bedrooms of family and friends.�
Amerihost Properties, Inc. is a hotel development, operations, management
and franchise company that owns, builds, manages and franchises mid-priced
hotels. Currently, Amerihost manages or franchises 90 properties (with
an ownership position in 84 of these hotels) in 18 states, including 77
properties within its proprietary brand - AmeriHost Inn®, for a total
of 6,745 rooms. In addition, the AmeriHost Inn® hotel brand offers
an amenity package not often found in other mid-priced hotels, and is rated
�three-diamond� by The American Automobile Association.
Certain statements appearing in this press release can be construed
as forward-looking statements within the meaning of Section 27A of the
Securities Exchange Act of 1934, as amended. These statements are subject
to risks and uncertainties that could cause actual results to differ materially
from those set forth in the forward-looking statements. |