AIRCOA Hotel Partners L.P. announces first quarter results.ENGLEWOOD, Colo.--(BUSINESS WIRE)--May 14, 1996--AIRCOA Hotel Partners L.P. (AMEX AMEX See: American Stock Exchange :AHT AHT Animal Health Trust (Suffolk, England) AHT American Hairless Terrier (dog breed) AHT After Hours Trading AHT Animal Health Technician AHT Anchor Handling Tug ), a Denver-based master limited partnership engaged in ownership of hotels, announced financial results for the first quarter ended March 31, 1996. The partnership currently owns and operates six full-service hotel properties: Aurora Inn and Pine Lake Pine Lake may refer to: Places Canada
Its history begins in 1942, when the land was owned by Merle Chaney. , Sheraton Inn-Buffalo Airport, Sheraton Lakeside Inn Lakeside Inn can refer to:
The partnership reported net income of $372,000 for the first quarter of 1996, compared to a net loss of $(490,000) in the first quarter of 1995. This increase was primarily attributable to increases in rooms and food and beverage F&B is a common abbreviation in the United States and Commonwealth countries, including Hong Kong. F&B is typically the widely accepted abbreviation for "Food and Beverage," which is the sector/industry that specializes in the conceptualization, the making of, and delivery of foods. revenue. Net income/(loss) allocable to the Class A units, calculated on 5,340,214 weighted average units outstanding, was $.02 and $(.14) for the quarters ending March 31, 1996 and 1995 respectively. Net income allocable to the Class B units, calculated on 950,000 weighted average units outstanding, was $.29 and $.28 for the quarters ending March 31, 1996 and 1995 respectively. Total revenue for the first quarter of 1996 was $12,368,000 compared to $10,894,000 for the first quarter of 1995, an increase of 13.5%. Operating income Operating Income The profit realized from a business' own operations. Notes: This would not include income from things such as investments in other firms. Also referred to as operating profit or recurring profit. for the first quarter of 1996 was $1,567,000 compared to operating income of $744,000 for the first quarter of 1995. Comparative operating statistics for the partnership's six properties for the first quarter of 1996 vs. the first quarter of 1995 are as follows: Average Occupancy - 75.9 percent and 75.7 percent; Average Daily Room Rate - $66.45 and $60.11. The weighted average occupancy level remained relatively flat, while the weighted average daily room rate increased 10.5 percent for the three months ended March 31, 1996 as compared to the same period in 1995. CONTACT: AIRCOA Hotel Partners, L.P., Englewood David C. Ridgley, 303/220-2000 |
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