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NEW YORK, Sept. 25, 1998 - The PricewaterhouseCoopers Lodging Research Network (www.lodgingresearch.com) has independently ranked more than 40 U.S. hotel brands owned by publicly traded companies by growth in revenue per available room (RevPAR) for the second quarter of 1998 versus the year-earlier period. Brands are ranked by PricewaterhouseCoopers according to five Smith Travel Research chain scale segments:
(www.lodgingresearch.com). Several Wyndham Resorts properties were renovated recently, allowing the brand a substantial occupancy gain over its 1997 level of 53.0 percent occupancy. Patriot American Hospitality's Grand Bay Hotels brand was the second-best- performing Upper Upscale brand, with RevPAR growth of 12.3 percent during the period. The Four Seasons brand of Four Seasons Hotels Inc. (NYSE: FS) was the third-best Upper Upscale brand performer, with 10.2 percent RevPAR growth in the second quarter of 1998 over the year-earlier period. In the Upscale segment, the AmeriSuites brand of Prime Hospitality Corp. (NYSE: PDQ) was the number-one performing brand, with RevPAR growth of 11.9 percent in the second quarter of 1998 versus the second quarter of 1997. Patriot American's Wyndham Garden Hotels brand was the number-two Upscale brand performer, with RevPAR growth of 8.3 percent. And the Courtyard by Marriott brand of Marriott International (NYSE: MAR) was the third-best performing Upscale brand, the Lodging Research Network says, with RevPAR growth of 6.7 percent. In the Midscale with Food and Beverage segment, the Cavanaugh's brand
of Cavanaugh Hospitality Corp. (NYSE: CVH) was the top-performing brand
of the four brands reporting, with RevPAR growth of 9.7 percent in the
second quarter versus the year-earlier period. The Holiday Inn brand of
Bass PLC (NYSE: BAS) was the second-best performing brand in the Midscale
with Food and Beverage segment, with RevPAR growth of 6.0 percent during
the period. The
In the Midscale without Food and Beverage segment, the Candlewood brand of Candlewood Hotel Co. (NASDAQ: CNDL) was the top performer, with RevPAR growth of 29.9 percent in the second quarter versus the year-earlier period. Candlewood credits an aggressive marketing campaign and increased brand recognition for its increase 11.9 occupancy point rise from 57.5 percent to 69.4 percent in the second quarter of 1998. The Hampton Inns Suites brand of Promus Hotel Corp. (NYSE: PRH) was the second-best-performing Midscale without Food and Beverage brand, with RevPAR growth of 9.5 percent. The Holiday Inn Express brand of Bass PLC was the third-best performer in the Midscale without Food and Beverage segment, with RevPAR growth of 6.3 percent, according to the Lodging Research Network. The Extended Stay America brand of Extended Stay America, Inc. (NYSE: ESA) was the best-performing Economy brand, with RevPAR growth of 15.2 percent in the second quarter versus the year-earlier period. The Microtel Inn Suites brand of U.S. Franchise Systems Inc. (Nasdaq: USFS) was the number-two Economy brand, with RevPAR growth of 8.3 percent. The Suburban Lodges of America brand of Suburban Lodges of America Inc. (Nasdaq: SLAM) was the third-best-performing Economy brand during the period with RevPAR growth of 8.1 percent, the Lodging Research Network reports. A complete ranking of more than 40 U.S. hotels brands by growth in occupancy, average daily room rate (ADR) and revenue per available room (RevPAR) in the second quarter of 1998 versus the year-earlier period is available at www.lodgingresearch.com for $100. A separate ranking of brands and their corporate parents listed by corporate parent by growth in occupancy, ADR and RevPAR in the second quarter of 1998 versus the year earlier period is available for $150 at www.lodgingresearch.com. RevPAR, occupancy and ADR growth rankings by the PricewaterhouseCoopers Lodging Research Network are made based on publicly disclosed information of lodging companies. PricewaterhouseCoopers (www.pwcglobal.com), the world's largest professional
services organization, helps its clients build value, manage risk and improve
their performance. Drawing on the talents of more than 144,000 people in
152 countries, the organization provides a full range of business advisory
services to leading global, national and local companies and to public
institutions. PricewaterhouseCoopers refers to the US firm of PricewaterhouseCoopers
LLP and other members of the worldwide PricewaterhouseCoopers organization.
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