Innkeepers USA Trust Posts Strong Year-end Results as EPS Rises 30%; Income Jumps 22%

PALM BEACH, FL-Consumer demand and its impact on revenue per available room produced solid returns for Innkeepers USA Trust Inc. as the locally based real estate investment trust closed out 2000 with a 30% increase in earnings per share, a 22% increase in net income and a 10% increase in total revenue.

“By every measure, 2000 was an excellent year for Innkeepers,” Jeffrey H. Fisher, Innkeepers president and chief executive officer, says in a prepared statement. “Our efforts were rewarded as our total return to shareholders, dividend and share price appreciation, was 49% for 2000.”

Revenue per available room for the year and the fourth-quarter ended Dec. 31 reflected continuing demand from consumers for the company’s 67 lodging properties. RevPAR increased by 7.4% to $85.64 from $79.73 for the year, compared with an 8.6% jump to $80.88 from $74.49 for the quarter. Average occupancy rates increased by 1.6% to 80% for the year from 78.8% for the same period the year before.