Winston Hotels Lowers Expected Results For The Year

Winston Hotels, Inc. (NYSE: WXH) today announced it will lower its previous Funds From Operations (FFO) and Revenue Per Available Room (Rev Par) forecast for the third and fourth quarters and the year, citing sharp drops in travel which have resulted in declines in occupancy.
Jim Rosenberg, President & Chief Operating Officer, commented: “We do not expect to achieve the third or fourth quarter Funds From Operations per share or projected Rev Par, which we indicated in our second quarter press release earlier this year, and we are not in a position to provide revised figures at this time because of the uncertainty in the marketplace.”