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AMERIHOST PROPERTIES REPORTS FIRST QUARTER RESULTS

 DES PLAINES, Ill., May 6 /PRNewswire/ -- Amerihost Properties, Inc. (NASDAQ: HOST), which manages, develops and acquires midmarket hotels, today reported record revenues for the first quarter ended March 31 1993.
 "As anticipated there was a net loss for the quarter, reflecting the seasonality of our business and the continued expansion of activities at our hotel operations division. The loss was consistent with our internal budgets," Michael Holtz, president, said. "The seasonality in our industry results in revenues which are usually lower in the first and fourth quarters than in the second and third quarters," he noted. For the 1993 quarter, the company lost $208,911 or five cents per share on revenues of $8,249,814 versus a net loss of $166,329 or nine cents per share on revenues of $4,475,383 for the comparable 1992 quarter. This increase in revenues is primarily attributable to a 183 percent increase in hotel development segment revenues and a 72 percent increase in employee leasing segment revenues from the levels in the first quarter of 1992.
 The loss for the quarters included depreciation and amortization expenses (net of income tax benefits) of $137,448 for the 1993 period and $86,098 for the initial three months of 1992. "During the first quarter, we executed management contracts for six Midwest hotels, including two newly constructed hotels in Logan, Ohio, and Mosinee, Wis., and two acquisitions in Kenosha, Wis. and Ann Arbor, Mich.," Holtz noted. The company holds indirect equity positions in these four hotels.
 "In addition, we strengthened our balance sheet through the conversion of our outstanding 12 percent convertible subordinated notes, resulting in estimated interest cost savings of approximately $139,000 annually," he concluded.
 Amerihost currently manages 58 hotels with over 6,500 guest rooms in 13 states.
 AMERIHOST PROPERTIES, INC.
 Financial Highlights
 (Unaudited)
 Three months ended March 31 1993 1992
 Revenues $8,249,814 $4,475,383
 Net loss (208,911) (166,329)
 Loss per share $.05 $.09
 Weighted average number
 of shares outstanding 4,226,021 1,870,048
 -0- 5/6/93
 /CONTACT: Richard A. D'Onofrio of Amerihost Properties, Inc., 708-298-4500/
 (HOST)


CO: Amerihost Properties, Inc. ST: Illinois IN: LEI SU: ERN

LD-TS -- NY104 -- 5632 05/06/93 16:21 EDT
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Date:May 6, 1993
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