Hotel Industry News - Financial

Supertel Hospitality, Inc. (NASDAQ: SPPR), a real estate investment trust (REIT) which owns 114 hotels in 23 states, today announced that its 2009 results will be impacted by substantial non-cash impairment charges of approximately $24.1 million. - More

Net income for the quarter ended December 31, 2009 was $2.0 million, or diluted earnings per share of $0.05, compared to net income of $1.7 million, or diluted earnings per share of $0.04, for the quarter ended December 31, 2008. - More

Scandic strengthens its market position and continues to grow in the Nordic region - More

Total revenue decreased 18.3% to $234.6 million from $287.3 millionRevPAR decreased 13.5% for the quarter - More

Fourth quarter 2009 total revenue for our 33 continuing operations hotels declined approximately 18.2 percent to $41.8 million, compared to the 2008 fourth quarter. - More

North American total revenue per available room (Total RevPAR) decreased 15.2 percent and revenue per available room (RevPAR) decreased 13.9 percent driven by a 1.5 percentage point decrease in occupancy and an 11.8 percent decrease in average daily rate (ADR). Non-rooms revenue declined by 16.8 percent. - More

Consolidated Hotel RevPAR decreased 9.7% - Adjusted Funds from Operation was $0.07 per diluted common share - More

Total revenue increased 15.1% to $56.3 million, over fourth quarter of 2008 - Same store RevPAR for Generation II resorts increased 0.4 percent and substantially outperformed hotel industry average - More

Drives strong margin performance through expense controls - Looks to expand portfolio size and quality through disciplined acquisitions - Maintains substantial cash balance - More

Same store revenue from owned hotels up 13% - Same store RevPAR down 7% in local currency, up 11% in US dollars - More