Total revenues for the third quarter of 2001 were $19.4 million, down 19.5% from for the third quarter of 2000. Percentage lease revenue for the third quarter was down 20.2% to $17.4 million.
On a same-unit basis, third-quarter room revenue per available room decreased 14.5% to $60.14. Occupancy during the third quarter of 2001 decreased to 65.5% from 73.9%, while the average daily rate decreased 3.5% to $91.80.
Net income for the 2001 third quarter was down 58% to $1.3 million, or $0.08 per dilutedshare.
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