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PSH MASTER L.P. I ANNOUNCES SECOND QUARTER, 1992 RESULTS

 PSH MASTER L.P. I ANNOUNCES SECOND QUARTER, 1992 RESULTS
 DUBLIN, Ohio, Aug. 7 /PRNewswire/ -- PSH Master L.P. I (NASDAQ: PSHPZ) today announced the results of its second quarter ended June 30, 1992. The Partnership recognized cash income (net income before depreciation and amortization expense) of $17,472 compared to a cash loss of $264,317 in the same quarter of 1991. Year-to-date, the Partnership incurred a cash loss of $38,011 compared to a cash loss of $367,227 for the same period in 1991. Improvement in occupancy resulted in a 6.5 percent increase in revenues compared to the second quarter of 1991 and continued cost containment is reflected in the improved results of both the second quarter and the first half of 1992 when compared to the same periods of 1991.
 Combined occupancy during the second quarter of 1992 was 75.9 percent, up from 72.4 percent in 1991. Operating revenues of the Partnership were $5,051,990 in the second quarter of 1992, resulting in a net loss of $760,628, or $.24 per unit. Comparative results for the second quarter of 1991 were revenues of $4,742,355 and a net loss of $1,119,836, or $.36 per unit. Year-to-date, operating revenues totaled $10,130,964 on 75.4 percent occupancy, resulting in a net loss of $1,594,216, or $.51 per unit. Comparative results for the first half of 1991 were operating revenues of $9,752,428, on occupancy of 72.1 percent, and a net loss of $2,094,737, or $.67 per unit.
 Agreements with the first mortgage lender to restructure the Partnership's debt and with the hotel operator to make loans to fund capital improvements and operating deficits, as necessary, are expected to be finalized during the third quarter.
 -0- 8/7/92
 /CONTACT: Stephen C. Denz of PSH Master L.P. I, 614-889-6500/
 (PSHPZ) CO: PSH Master L.P. I ST: Ohio IN: LEI SU: ERN


BM -- CL016 -- 8106 08/07/92 15:22 EDT
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Publication:PR Newswire
Date:Aug 7, 1992
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