AmeriHost Inns Drops to 41.5% in January, 2004
|ARLINGTON HEIGHTS, Ill., February 24, 2004 ó Arlington Hospitality,
Inc. (Nasdaq/NM: HOST), a hotel development and management company, today
announced January 2004 same-room operating results for the AmeriHost Inn
hotels in which the company has an ownership interest. The January 2004
same-room results include 54 AmeriHost Inn hotels which have been opened
for at least 13 months.
Same-room revenue per available room (RevPAR) in January 2004 increased
1.4 percent to $22.64, compared to January 2003. Occupancy decreased 0.5
percent to 41.5 percent, and average daily rate (ADR) increased 1.8 percent
The company did not sell any hotels since its last sales development update. Currently, the company has four hotels under contract for sale, which are expected to be consummated within the next six months. When the company has hotels under contract for sale, even with nonrefundable cash deposits in certain cases, certain conditions to closing remain, and there can be no assurance that these sales will be consummated as anticipated.
Arlington Hospitality, Inc. is a hotel development and management company
This press release may contain forward-looking statements.
Arlington Hospitality, Inc.
James B. Dale, Chief Financial Officer
847-228-5401 x 361
|Also See:||Arlington Hospitality, Inc. Reports RevPAR for AmeriHost Inn Hotels Decreased 3.2% in January 2003 Compared to January 2002; Occupancy Down 1.4% to 42.2% / Feb 2003|
|Arlington Hospitality, Inc. Plans to Sell 25 to 35 AmeriHost Inn Hotels Over the Next Two Years; Reports RevPAR Up 1.9% for Last 12 Months / June 2003|