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CNL Lifestyle Properties Sees 49% Revenue Hike

ORLANDO-The REIT reported $106.5 million in revenue for the second quarter on a strong ski season and aggressive marketing.

By Jennifer LeClaire | Updated on August 15, 2011

ORLANDO-CNL Lifestyle Properties is running par for the specialty REIT course with its latest earnings report, with a mix of strong and poor results. The REIT reported $106.5 million in revenue for the second quarter of 2011, a 49% increase from the year-ago period.

“I am very encouraged by the gains that CNL Lifestyle Properties made as we ended the second quarter, particularly in June, which we believe will continue into the third quarter as our attractions hit their peak operating season,” Joe Johnson, senior vice president and CFO of CNL Lifestyle Properties, said in a statement. CNL attributes some of the revenue gains to attractions that were converted from leased properties to managed properties.

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