IRVING, TX-FelCor Lodging Trust Inc.’s third quarter operatingresults were strong enough for the REIT’s executive team to expressconfidence not only in the future of the hospitality sector, butalso the future performance of its own portfolio.
“Our confidence in a sustained recovery is growing,” said AndrewJ. Welch, FelCor's executive vice president and CFO, during theREIT’s earnings conference call. FelCor owns interests in 84 hotelsand resorts located in 23 states and Canada.
The REIT’s revenues certainly indicate the recovery is wellunderway: same-store revenue per available room (RevPAR) atFelCor’s 82 consolidated hotels increased 6.3% for the quartercompared to the same period in 2009. The RevPAR increase for thequarter was driven by a 4.2% occupancy increase to 72.7% and a 2.1%ADR increase to $120.85, compared to the same period in 2009.
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