Suburban Lodges of America Inc., which has 12 of the 65 hotels it owns in Atlanta locations, says weekly revenue per available room at its properties advanced to $161.31 in April for a 3% increase from weekly rates of $155.17 at the same time last year.
The company believes its rate of growth in revenue per available roomhas exceeded that of the hotel industry in each of the first four months of 2001.
"In light of continuing unsettling economic news, we are particularly pleased with our performance thus far this year," Chuck Criscillis, CFO, tells Globest.com.
Increases in both the weekly rate and the average occupancy rate contributed to the increases in the company's RevPAR. Average occupancy increased to 80.5% in April from 80% in the comparable 2000 period, Criscillis says.
The average weekly rate for company owned hotels increased by 3% to $199.90 in April compared to $194.31 last year.
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David Wilkening
David Wilkening began his long journalism career as a police reporter for Chicago-area newspapers. He became a writer-editor for major newspapers in Chicago, Washington, Detroit and Florida. He has been a business editor, political editor and travel editor for newspapers and magazines. He tried for a while to be a political operative but did better as an adjunct college professor teaching English and journalism. He is the author of several books, both ghost-written and under his own name. He is also a widely published freelance writer who currently lives in Orlando.
