Search
 

WestCoast Reports Revenues Up 51 Percent

SPOKANE, WA-The acquisition of Red Lion Inns helps the locally-based see a rise in revenues for the quarter ending March 31. During those three months, total revenue rose $50.9%.

By Gina Binole | Updated on April 30, 2002

SPOKANE, WA-Thanks to the purchase of Red Lion Inns, WestCoast Hospitality Corp. has posted a profit for the first quarter ended March 31. In that time, total revenue increased from $28.2 million in the first quarter of 2001 to $42.5 million in the same period of 2002.

But the tough fiscal climate still has taken its toll. During the quarter, EBITDA (Earnings Before Interest, Taxes, Depreciation and Amortization) declined 29.8% to $4.2 million while Earnings Per Share declined $0.02, from $0.05 in the first quarter of 2001 to $0.03 in the first quarter of 2002.

While results still reflect a difficult economic environment, there are indications of a strengthening demand for reservations at the company’s central reservations office where April reservation bookings have outpaced prior year trends.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.