The hotel REIT said the 13 percent increase in its FFO wasfueled by an 8.4% advance in revenue per available room (RevPar)from $81.95 in the second quarter 1999 to $88.91. Eight SiliconValley properties accounted for 3 percent of the jump among all ofInnkeepers 67 hotels, the company reported.

Alas, because of more difficult comparisons with a strong 1999second half and persistent moves by the Fed to slow the economy byincreasing interest rates, Innkeepers chairman, CEO and presidentJeff Fisher says the RevPAR growth "may not be sustainable in thesecond half."

Continue Reading for Free

Register and gain access to:

  • Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

Hotels