| ATLANTA, March 7, 2000 - Following an announcement
last week regarding Bass PLC�s (NYSE: BAS) (LON: BAS) (ADRs) agreement
to make an offer for Dallas-based Bristol Hotels Resorts, Bass Hotels Resorts
reports positive growth in its Fiscal First Quarter (October - December
1999). �The company is off to a strong start this year with average daily
rate (ADR) and revenue per available room (RevPAR) results significantly
exceeding competitor performance, across all its brands,� said Thomas R.
Oliver, chairman and CEO of Bass Hotels Resorts. The company observes an
Oct. 1-Sept. 30 fiscal year.
�We are delighted with the results achieved by both Holiday Inn and
Holiday Inn Express this past quarter,� said John Sweetwood, president
of the Midscale Hotel Group, North America. �Holiday Inn continues to strengthen
its leadership position as a result of the brand�s revitalization, and
Holiday Inn Express, the fastest-growing brand in the hotel industry, is
aggressively expanding its portfolio, opening nearly one hotel every three
days.� Other factors attributing to the hotel group�s strong performance
for the period, include the increase in roomnights to hotels from the company�s
frequent guest program,
Priority Club Worldwide, and a major increase in awareness and trial
of Holiday Inn Express, driven by the award-winning Stay Smart® television
advertising campaign.
 �Crowne
Plaza Hotels and Resorts continued to strengthen its portfolio in primary
locations in key cities, opening two hotels in the first quarter. The upscale
brand also achieved record levels of guest satisfaction during the period,�
said Thomas Arasi, president of Bass Hotels Resorts, the Americas. �In
addition, Crowne Plaza experienced tremendous growth in its loyal customer
base through Priority Club Worldwide - program contribution has doubled
over the last year.�
U.S. Results for Fiscal First Quarter
Holiday Inn Hotels and Resorts achieved a 4.1 percent increase in RevPAR
(versus 3.8 percent for the remaining U.S. Midscale with Food Beverage
segment*), reaching $45.15 for the first quarter ended December 31, 1999;
ADR was up 4.5 percent to $75.86 (versus 4.8 percent, $65.77, for the remaining
U.S. Midscale with Food Beverage segment*). Occupancy for the brand
declined 0.2 percentage points to 59.5 percent, outperforming segment occupancy,
which reported a 0.9 point decline to 51.3 percent. Rooms were 212,176,
a 2.2 percent decrease as the brand�s quality program continues to take
effect.
Holiday Inn Express-branded hotels reported a 6.8 percent increase in
RevPAR (versus 0.8 percent for the remaining U.S. Midscale without Food
Beverage segment*) to $38.20; ADR also was up 5.9 percent to $65.50 (versus
4.5 percent for the remaining U.S. Midscale without Food Beverage segment*).
Occupancy increased 0.4 percentage points to 58.3 percent for the three-month
period, again countering the industry down trend. Competitive segment occupancy
reported a 3.5 point decline. Rooms were 70,536, up 13.7 percent.
Crowne Plaza Hotels and Resorts RevPAR improved with a 4.9 percent increase
(versus 0.8 percent for the remaining U.S. Upscale segment*) to $74.63;
ADR reached $112.15 representing an increase of 4.3 percent (versus 2.4
percent for the remaining U.S. Upscale segment*). The brand�s average occupancy
was up 0.3 percentage points to 66.5 percent, while competitive segment
occupancy reported a 1.5 point decline. Rooms were up 1.4 percent, to 21,146.
* Competitive Segment Data information from Smith Travel Research: segment
numbers reflect the remainder of the segment, excluding the respective
Bass Hotels Resorts brand.
Bass Hotels Resorts:
Fiscal Year 99/00 U.S. Results*
U.S. Hotels Performance - 1st Quarter *
|
Fiscal Year 99 / 00 U.S. Results
1st Quarter
BHR: CY 99
Oct - Dec
Jan - Dec99
Occupancy
% % Pts +/-
CY % Pts +/-
P/Y
P/Y
Holiday Inn
59.5 -0.2
65.5 0.0
Holiday Inn Express
58.3 0.4
64.7 0.9
Crowne Plaza
66.5 0.3
69.1 0.2
Ave Rate
$ % Growth
CY % Growth
Holiday Inn
75.86 4.5
76.77 4.7
Holiday Inn Express
65.50 5.9
66.35 5.6
Crowne Plaza
112.15 4.3
108.07 4.2
RevPAR
$ % Growth
CY % Growth
Holiday Inn
45.15 4.1
50.27 4.7
Holiday Inn Express
38.20 6.8
42.95 7.0
Crowne Plaza
74.63 4.9
74.63 4.5
System Size at December 31, 1999
Hotels % Growth
Holiday Inn
1,100 -2.8
Holiday Inn Express
904 14.6
Crowne Plaza
67 4.7
Rooms % Growth
Holiday Inn
212,176 -2.2
Holiday Inn Express 70,536
13.7
Crowne Plaza
21,146 1.4 |
*Based on returns submitted by franchisees up to the date of this
announcement.
Bass Hotels Resorts, the hotel business of U.K.-based Bass PLC, owns,
operates and/or franchises the Holiday Inn, Holiday Inn Express, Crowne
Plaza Hotels and Resorts, Staybridge Suites by Holiday Inn and Inter-Continental
Hotels and Resorts lodging brands. Bass PLC American Depository Receipts
trade on the New York Stock Exchange under the trading symbol �BAS.� |
