Revenues rose 7.5% to $94.2 million. Earnings before interest expense, income taxes, depreciation and amortization improved 5.7% to $79.3 million while FFO per share for the fourth quarter exceeded expectations by $0.01.
MeriStar's hotels are reporting strong fourth quarter operating results, with fourth-quarter revenue per available room improving 6.0% to $70.05. During that same period, the average daily rate rose 4.7% to $105.18, and occupancy improved 1.2% to 66.6% the report says.
For the year 2000, FFO increased to $226.1 million and rose 5.9% to $4.11 per diluted share. Revenues rose 6.9% to $400.8 million and EBITDA advanced 6.5% to $341.1 million. RevPAR for all hotels owned for the full year rose 5.7% to $77.71. Average daily rate improved 5.6% to $107.60 and occupancy increased 0.1% to 72.2%.
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