AIRCOA Hotel Partners L.P. announces third quarter results.ENGLEWOOD, Colo.--(BUSINESS WIRE)--Nov. 12, 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 the ownership of hotels, announced financial results of the third quarter ended Sept. 30, 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. , Regal University Hotel, Sheraton Inn-Buffalo Airport and Sheraton Lakeside Inn Lakeside Inn can refer to:
The partnership reported net income of $321,000 for the third quarter of 1996, compared to net income of $355,000 for the third quarter of 1995. For the first nine months of 1996, the partnership reported net income of $1,543,000, compared to a net income of $339,000 for the first nine months of 1995. Net income allocable to each Class A unit, calculated on 5,340,214 weighted average units outstanding, was 1 cent for the third quarter of 1996, compared to a loss of 1 cent for the third quarter of 1995. Results for the first nine months of 1996 were 13 cents, compared to a loss of 10 cents for the first nine months of 1995. Net income allocable to each Class B unit, calculated on 950,000 weighted average units outstanding, was 29 cents for the third quarter of 1996, compared to 32 cents for the third quarter of 1995. Results for the first nine months of 1996 were 90 cents compared to 92 cents for the first nine months of 1995. Total revenue for the third quarter of 1996 was $11,897,000 compared to $11,945,000 for the third quarter of 1995. For the first nine months of 1996, total revenues was $37,318,000, an increase of 6.1% as compared to $35,181,000 for the first nine months of 1995. 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 third quarter of 1996 was $1,539,000, compared to $1,593,000 for the third quarter of 1995. For the first nine months of 1996, operating income was $5,120,000, an increase of 28.7% as compared to $3,979,000 for the first nine months of 1995. Comparative operating statistics for the partnership's six properties for the first nine months of 1996 as compared to the first nine months of 1995 are as follows: Average Occupancy - 80.8% and 80.9% respectively; Average Daily Room Rate - $64.19 and $60.07, respectively. CONTACT: AIRCOA Hotel Partners, L.P. David C. Ridgley, 303/220-2000 |
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