The company cites data from Smith Travel Research of Hendersonville, TN that shows all Jameson hotels in the economy category having REVpar ranging from flat to an increase of 2%. That's the same projection Smith Travel makes for the total US Lodging industry for August.
The Signature Inns division of Jameson Inns Inc. posted 52.7% occupancy in August, fractionally up from 52.2% in the same period last year. The Jameson Inns brand showed occupancy of 57% versus 55.5% in August 2002.
The average daily rate decreased $1.22 for the month while occupancy increased 1.1 points. Signature Inns offered rates of $63.12 per night versus $66.47 last year. The Jameson Inns brand had an average daily rate of $49.11 compared to $59.17 in August 2002. The combined brands' average daily rate was $60.43 this year versus $61.65 last year.
Jameson Inns Inc. plans to shed its REIT status in 2004, a maneuver that would allow the locally based company to buy its leasing arm, Kitchin Hospitality LLC, for $1.3 million, as GlobeSt.com previously reported.
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