First Quarter Financial Highlights:
* First quarter diluted EPS from continuing operations increased 30% to $0.26 when compared to pro forma comparable diluted EPS for the same period of 1999.
* Total revenues increased 18% to $1.0 billion. Operating income increased 26% to $191 million.
* REVPAR for Same-Store Owned Hotels in North America increased 9.5%.
* Total Company EBITDA increased 16%. EBITDA at owned hotels in North America increased 12.4%.
* W Hotel revenue and EBITDA, excluding the two new builds, increased 48.1% and 111.5%, respectively.