Host Funding Inc. Reports Q2 Loss

Host Funding Inc. reports this week a second quarter 2000 loss of $270,848, or 15 cents a share, on revenue of $865,000. In the year-earlier period, the company lost $728,037, or 47 cents a share (including a 34 cent-a-share write-down), on revenue of just over $1 million.

According to company officials, the reduction in revenues was primarily due to reductions to base rents as a result of competition, and the absence of a Findlay, Ohio property sold in November of last year.

Earnings Before Interest, Depreciation, Taxes and Amortization (EBIDTA), which management feels more accurately reflects the financial performance of the hotel industry and the Company, was approximately $593,000 for the three months ended June 30, 2000. In the year-earlier period, EBIDTA was $145,000.