IHR » Topics » Lodging

These excerpts taken from the IHR 10-Q filed May 8, 2009.
Lodging
 
The decrease in lodging revenue of $4.9 million in the first quarter of 2009 compared to the same period in 2008 was primarily due to the significant decrease in revenue per available room (“RevPAR”) of 16.0 percent for our wholly-owned portfolio. The decrease in RevPAR was a result of a significant reduction in occupancy of 8.7 percent along with a decrease in average daily rate (“ADR”) of 8.1 percent because of promotional activity as the economic recession worsened in the first quarter of 2009.
 
Lodging
 
The decrease in lodging expense of $2.4 million in the first quarter of 2009 compared to the same period in 2008 was primarily due to a corresponding decrease in lodging revenue and our focus on cost containment at our wholly-owned properties. Although our cost containment efforts have been successful in partially mitigating the decrease in lodging demand, the gross margins of our wholly-owned hotels has decreased from 28.6 percent in the first quarter of 2008 to 22.7 percent in the first quarter of 2009 on a portfolio basis.
 
This excerpt taken from the IHR 10-Q filed Nov 6, 2008.
Lodging
The increase in lodging expense of $14.7 million in the nine months ended September 30, 2008 compared to the same period in 2007 was primarily due to the inclusion of lodging expense of $6.7 million from the Sheraton Columbia, which was purchased in November 2007, additional lodging expense of $6.3 million for the Westin Atlanta, which was purchased in May 2007, and additional lodging expense of $1.6 million for the Hilton Houston Westchase, which was purchased in February 2007.
 
This excerpt taken from the IHR 10-Q filed Aug 6, 2008.
Lodging
The increase in lodging expense of $12.5 million in the six months ended June 30, 2008 compared to the same period in 2007 was primarily due to the inclusion of lodging expense of $4.6 million from the Sheraton Columbia, which was purchased in November 2007. In addition, we recorded additional lodging expense of $6.5 million for the Westin Atlanta, which was purchased in May 2007, and additional lodging expense of $1.4 million for the Hilton Houston Westchase, which was purchased in February 2007.
 
This excerpt taken from the IHR 10-Q filed May 8, 2008.
Lodging
The increase in lodging expense in the first quarter of 2008 was primarily due to the inclusion of lodging expense of $4.2 million for the Westin Atlanta, which was acquired in May 2007, and $2.2 million for the Sheraton Columbia, which was acquired in November 2007. In addition, we recorded additional lodging expense of $1.3 million for Hilton Houston Westchase, which is primarily due to the inclusion of operations for the full first quarter of 2008 compared to a partial first quarter of 2007.
 
This excerpt taken from the IHR 10-Q filed Nov 8, 2007.
Lodging
The increase in lodging expense is primarily due to the inclusion of $22.5 million in additional expense during the nine month period ended September 30, 2007 from the Hilton Garden Inn Baton Rouge Airport, the Hilton Arlington, the Hilton Houston Westchase, and the Westin Atlanta.
 
This excerpt taken from the IHR 10-Q filed Aug 9, 2007.
Lodging
The increase in lodging expense is primarily due to the inclusion of $13.1 million of expenses in the six months ended June 30, 2007 from the Westin Atlanta Airport (acquired in May 2007), the Hilton Houston Westchase (acquired in February 2007), the Hilton Arlington (acquired in October 2006) and the Hilton Garden Inn Baton Rouge Airport (acquired in June 2006). Operating margins for our owned hotels increased from 26% to 30%.
 
This excerpt taken from the IHR 10-Q filed May 10, 2007.
Lodging
 
The increase in lodging expenses is primarily due to the inclusion of lodging expenses of $2.4 million for the Hilton Arlington, which was acquired in October 2006, $0.7 million for the Hilton Garden Inn Baton Rouge, which was acquired in June 2006, and $1.9 million for the Hilton Houston Westchase, which was acquired in February, 2007. In addition, although lodging expenses at the Hilton Concord increased $0.4 million, which was primarily driven by an increase in occupancy, the gross margin increased 490 basis points for the three month period ended March 31, 2007 compared to the three month period ended March 31, 2006.
 
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