Humphrey Hospitality Trust, Inc. Announces Second Quarter 2000 Results Increasing FFO Per Share 22%

Humphrey Hospitality Trust, Inc. (Nasdaq: HUMP) today announced results for the second quarter ended June 30, 2000.  For the second quarter ended June 30, 2000, funds from operations (FFO) per share on a diluted bases increased by 22% to $0.39 from $0.32 for the same quarter in 1999. For the six months ended June 30, 2000, FFO per share on a diluted basis increased by 23% to $.70 from $.57 for the same period in 1999.  For the second quarter ended June 30, 2000, lease revenues expanded to $8.4 million from $3.2 million and total FFO increased to $4.7 million from $1.7 million.  For the six months ended June 30, 2000, lease revenues expanded to $16.0 million from $6.0 million and total FFO increased to $8.4 million from $3.1 million. The increase, for both, the quarter and the six months ended June 30, 2000, was due to the inclusion of Supertel Hospitality, which was acquired on October 26, 1999. 

“We continued to grow funds from operations, on a per share basis, despite flat growth in same store lease revenue during the second quarter and early January weakness related to weather and millennium travel issues at the hotel level,” said Paul J. Schulte, Chairman and CEO of Humphrey Hospitality Trust, Inc.  “The growth in FFO experienced in the second quarter and year to date is in line with the expected results of the merger of Humphrey Hospitality and Supertel Hospitality.”


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