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AMERIHOST REPORTS RECORD THRRD QUARTER/9 MONTHS RESULTS

 AMERIHOST REPORTS RECORD THRRD QUARTER/9 MONTHS RESULTS
 DES PLAINES, Ill., Nov. 9 /PRNewswire/ -- Amerihost Properties, Inc. (NASDAQ: HOST), which manages, develops and acquires limited service hotels, today reported record results for the third quarter and nine months ended Sept. 30, 1992.
 "The third quarter represents the highest level of revenues and operating income of any quarter in the company's history," Michael Holtz, president and chief executive officer, said. "We benefited substantially from the newly established employee leasing subsidiary, three construction projects which were completed and opened for business during the period and the acquisition of two additional hotels."
 Third quarter net income climbed to $407,367 or $.16 per share from $85,708 or $.05 per share for the year earlier period. Revenues rose to $9,574,758 from $1,102,756 for the prior year's third quarter.
 For the nine months, net income reached $653,277 or $.29 per share from $138,156 or $.08 per share for the like period of last year. Revenues rose to $21,372,649 from $4,753,301 for the initial nine months of the prior year.
 "Management fee revenues during the third quarter doubled from the level achieved during the same period last year. We also completed negotiations for two new construction projects estimated to generate revenues of $2.5 million during the life of the projects, and completed agreements to acquire two hotels expected to generate more than $1.1 million in revenues through the completion of renovations," he added.
 "The pace of our progress in all areas of operations continues at a high level, contributing to our optimism that 1992 will be a record year and that we are well positioned for continued growth in 1993," Holtz concluded.
 The company now manages 52 hotels with more than 5,800 guest rooms in 12 states in the Midwest and Southeastern U.S.
 AMERIHOST PROPERTIES, INC.
 Financial Highlights
 (Unaudited)
 Periods ended Three months Nine months
 Sept. 30 1992 1991 1992 1991
 Revenues $9,574,758 $1,102,756 $21,372,649 $4,753,301
 Income before taxes
 and extraord. item 702,517 85,708 948,427 138,156
 Taxes on income 295,150 -- 393,500 --
 Income before
 extraord. item 407,367 85,708 554,297 138,156
 Extraordinary item
 - utilization of net
 operating loss
 carryforward -- -- 98,350 --
 Net income 407,367 85,708 653,277 138,156
 Earnings per share .16 .05 .29 .08
 Average common shares
 and common stock
 equivalents outstanding:
 Primary 2,621,596 1,705,928 2,452,775 1,672,151
 Fully diluted 2,621,596 1,705,928 2,450,537 1,672,151
 -0- 11/9/92
 /CONTACT: Richard A. D'Onofrio of Amerihost Properties, Inc., 708-298-4500/
 (HOST) CO: Amerihost Properties, Inc. ST: Illinois IN: LEI SU: ERN


TS-OS -- NY016 -- 8546 11/09/92 09:17 EST
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Date:Nov 9, 1992
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