Arlington Hospitality, Inc. (Nasdaq/NM: HOST), a hotel development and management company, today announced December 2003 same-room operating results for the AmeriHost Inn hotels in which the company had an ownership interest. The December 2003 same-room results include 54 AmeriHost Inn hotels which have been open for at least 13 months.
Same-room revenue per available room (RevPAR) in December 2003 increased 3.0 percent to $24.20, compared to December 2002. Occupancy increased 2.1 percent to 44.2 percent, and average daily rate (ADR) increased 1.0 percent to $54.70.
According to Smith Travel Research, preliminary results for December 2003 indicate that RevPAR for the midscale without food and beverage segment of the lodging industry will increase between 3 percent and 5 percent, compared to December 2002.
The company has not sold any hotels since its last sales/development update issued December 19. 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.
For more information regarding Arlington`s hotels for sale and development opportunities either on a joint venture or turnkey basis, contact Stephen Miller, Senior Vice President - Real Estate and Business Development via email at [email protected], or by telephone at (847) 228-5401, ext. 312.
Arlington Hospitality, Inc. is a hotel development and management company that builds, operates and sells mid-market hotels. Arlington is the nation`s largest owner and franchisee of AmeriHost Inn hotels, a 103-property mid-market, limited-service hotel brand owned and presently franchised in 22 states and Canada by Cendant Corporation (NYSE: CD). Currently, Arlington Hospitality, Inc. owns or manages 64 properties in 17 states, including 57 AmeriHost Inn hotels, for a total of 4,655 rooms, with additional AmeriHost Inn & Suites hotels under development.