Equity Inns, Inc. (NYSE: ENN), the third largest hotel real estate
investment trust (REIT), today announced its results for the three
and six months ended June 30, 2007. Adjusted funds from operations
(AFFO) for the three months ended June 30, 2007 increased 35% to
$0.50 per diluted share, as compared to $0.37 per diluted share for
the three-month period ended June 30, 2006. Adjusted EBITDA was
$41.6 million for the second quarter of 2007 as compared to $33.5
million for the second quarter of 2006. Net income applicable to
common shareholders for the second quarter of 2007 was $10.3
million, or $0.19 per diluted share, as compared to $8.6 million,
or $0.16 per diluted share in the prior year period. The only
difference between AFFO and funds from operations (FFO) for the
second quarter of 2007 was approximately $1.6 million, or $0.03 per
diluted share, related to transaction costs associated with the
Company�s pending definitive merger agreement with an affiliate of
Whitehall Street Global Real Estate Limited Partnership 2007
(Whitehall), an affiliate of Goldman Sachs & Co., Inc. These
merger costs are included as a component of general and
administrative expenses in the accompanying condensed consolidated
statements of operations. The merger with Whitehall is expected to
be completed in the fourth quarter of 2007. Financial Highlights
for the Second Quarter 2007: Total hotel revenue increased to
$117.5 million for the second quarter of 2007 as compared to $99.5
million for the second quarter of 2006. The Company�s all
comparable revenue per available room (RevPAR) growth for the
second quarter of 2007 was 7.8% as compared to the second quarter
of 2006. This improvement was driven primarily by a 7.7% increase
in the average daily rate (ADR) to $106.47 and a slight improvement
in occupancy to 77.1%. The Company�s all comparable RevPAR results
exclude the negative impact of the repositioning of the Company�s
18 AmeriSuites hotels which are being converted to Hyatt Place
hotels on an ongoing basis throughout 2007. Management believes
that excluding these hotels is a more accurate measure of the
normalized performance of the Company�s hotel portfolio. Including
the 18 AmeriSuites hotels, all comparable RevPAR growth for the
second quarter of 2007 was 6.6%. The Company�s gross operating
profit margin (GOP margin) increased 180 basis points to 47.4% in
the second quarter of 2007 as compared to the second quarter of
2006, excluding the Company�s 18 AmeriSuites hotels. Including the
18 AmeriSuites hotels, the Company�s GOP margin improved 130 basis
points to 46.7%. Capital Structure: At June 30, 2007, Equity Inns
had $690.5 million of long-term debt outstanding. Total debt
represented 46.4% of the historical cost of the Company�s hotels at
the end of the second quarter 2007. Equity Inns� leverage ratio of
4.7 times at the end of the second quarter 2007 is near a five-year
low for the Company. Fixed rate debt, together with variable rate
debt hedged by an interest rate swap, amounted to approximately
100% of total debt. At June 30, 2007, the Company�s outstanding
common stock and partnership units were a combined 56.0 million.
Dividend: During the second quarter of 2007, the Company paid a
cash dividend on its common stock of $0.25 per share. The $0.25 per
share common dividend represents a 32% increase over the prior year
quarter. Earnings Call and Forward-Looking Earnings Guidance: Given
the pending merger with Whitehall, the Company does not intend to
have an earnings call regarding today�s announcement nor provide
any further forward-looking earnings guidance. Forward-Looking
Statements Certain matters discussed in this press release which
are not historical facts are �forward-looking statements� within
the meaning of the federal securities laws and involve risks and
uncertainties. The words �may,� �plan,� �project,� �anticipate,�
�believe,� �estimate,� �forecast, �expect,� �intend,� �will,� and
similar terms are intended to identify forward-looking statements,
which include, without limitation, statements concerning our
outlook for the hotel industry, acquisition and disposition plans
for our hotels and assumptions and forecasts of future results for
fiscal year 2007 and the anticipated closing of the Company�s
merger with an affiliate of Whitehall. Forward-looking statements
are not guarantees of future performance and involve numerous risks
and uncertainties which may cause our actual financial condition,
results of operations and performance to be materially different
from the results of expectations expressed or implied by such
statements. Such risks and uncertainties include, but are not
limited to, the following: the ability of the Company to complete
the merger with an affiliate of Whitehall on the terms and the
conditions set forth in the agreement and plan of merger, the
ability of the Company to cope with domestic economic and political
disruption, war, terrorism, states of emergency or similar
activities; risks associated with debt financing; risks associated
with the hotel and hospitality industry; the ability of the Company
to successfully implement its operating strategy; availability of
capital; changes in economic cycles; competition from other
hospitality companies; and changes in the laws and government
regulations applicable to it.. These risks and uncertainties are
described in greater detail in Item 1.A. of our Annual Report on
Form 10-K for the year ended December 31, 2006 filed with the
United States Securities and Exchange Commission (SEC) on February
28, 2007, and our other periodic filings with the SEC. We undertake
no obligation and do not intend to publicly update or revise any
forward-looking statement, whether as a result of new information,
future events or otherwise. Although we believe our current
expectations to be based upon reasonable assumptions, we can give
no assurance that our expectations will be attained or that actual
results will not differ materially. Notes to Financial Information
The Company operates as a self-managed and self-administered real
estate investment trust, or REIT. Readers are encouraged to find
further detail regarding Equity Inns� organizational structure in
its Annual Report on Form 10-K for the year ended December 31, 2006
as filed with the SEC. Non-GAAP Financial Measures Periodically in
press releases the Company uses certain "non-GAAP financial
measures," which are measures of the Company's historical or future
financial performance that are different from measures calculated
and presented in accordance with generally accepted accounting
principles, or GAAP, within the meaning of applicable SEC rules.
These include: (i) Gross Operating Profit Margin, (ii) Funds From
Operations, (iii) Adjusted Funds From Operations, (iv) Adjusted
EBITDA, (v) Cash Available for Distribution (CAD), (vi) CAD Payout
Ratio, (vii) Capitalization Rate (viii) Leverage Ratio, (ix) Total
Shareholder Return and (x) Hotel Operating Statistics. The
following discussion defines these terms, which the Company
believes can be useful measures of its performance. Gross Operating
Profit Margin The Company uses a measure common in the hotel
industry, gross operating profit margin (GOP margin), to evaluate
its operating results. GOP margin is defined as total hotel revenue
minus hotel operating expenses before property taxes, insurance and
management fees, divided by hotel revenues. Funds from Operations
The National Association of Real Estate Investment Trusts, or
NAREIT, defines funds from operations, or FFO, as net income (loss)
applicable to common shareholders, excluding gains (or losses) from
sales of real estate, the cumulative effect of changes in
accounting principles, real estate-related depreciation and
amortization, and after adjustments for unconsolidated partnerships
and joint ventures. FFO does not include the cost of capital
improvements or any related capitalized interest. Equity Inns uses
FFO per diluted share as a measure of performance to adjust for
certain non-cash expenses such as depreciation and amortization
because historical cost accounting for real estate assets
implicitly assumes that the value of real estate assets diminishes
predictably over time. Because real estate values have historically
risen or fallen with market conditions, many industry investors
have considered presentation of operating results for real estate
companies that use historical cost accounting to be less
informative. NAREIT adopted the definition of FFO in order to
promote an industry-wide standard measure of REIT operating
performance. Accordingly, as a member of NAREIT, Equity Inns
adopted FFO as a measure to evaluate performance and facilitate
comparisons between the Company and other REITs, although FFO and
FFO per diluted share may not be comparable to those measures, or
similarly titled measures, as reported by other companies.
Additionally, FFO is used by management in the annual budget
process. Adjusted Funds From Operations Equity Inns further adjusts
FFO for losses on impairment of hotels, prepayment penalties on
extinguishment of debt and other non-cash or unusual items,
including transaction costs relating to the pending merger with an
affiliate of Whitehall. We refer to this as adjusted funds from
operations, or AFFO. The Company�s computation of AFFO and AFFO per
diluted share is not comparable to the NAREIT definition of FFO or
to similar measures reported by other REITs, but the Company
believes it is an appropriate measure for this Company. The Company
uses AFFO because it believes that this measure provides investors
a useful indicator of the operating performance of the Company�s
hotels by adjusting for the effects of certain non-cash or
non-recurring items arising from the Company�s financing
activities, impairment charges on hotels held for sale and other
areas. In addition to being used by management in the annual budget
process, AFFO per diluted share is also used by the Compensation
Committee of the Board of Directors as one of the criteria for
performance-based executive compensation. EBITDA and Adjusted
EBITDA Earnings before Interest Expense, Income Taxes, Depreciation
and Amortization, or EBITDA, is a commonly used measure of
performance in many industries, which the Company believes provides
useful information to investors regarding its results of
operations. The Company believes that EBITDA helps investors
evaluate the ongoing operating performance of its properties and
facilitates comparisons with other lodging REITs, hotel owners who
are not REITs, and other capital-intensive companies. The Company
uses EBITDA to provide a baseline when evaluating hotel results.
The Company also uses EBITDA as one measure in determining the
value of acquisitions and dispositions and, like FFO and AFFO, it
is also used by management in the annual budget process. The
Company further adjusts EBITDA to exclude preferred stock
dividends, income or losses from discontinued operations, minority
interests and losses on impairment of hotels because it believes
that including such items in EBITDA is not consistent with
reflecting the ongoing operating performance of the remaining
assets. The Company has historically adjusted EBITDA when
evaluating its performance because management believes that the
exclusion of certain non-cash and non-recurring items described
above assists the Company in measuring the performance of its
hotels and reflects the ongoing value of the Company as a whole.
Therefore, the Company modifies EBITDA and refers to this measure
as Adjusted EBITDA. Cash available for distribution (CAD) and CAD
Payout Ratio Cash available for distribution (CAD) is defined as
AFFO, adjusted for certain non-cash amortization and an allowance
for recurring capital expenditures equal to four percent of total
hotel revenue from continuing operations. The Company computes the
CAD Payout Ratio by dividing common dividends per share and unit
paid over the last twelve months by trailing twelve-month CAD per
share for the same period. The Company believes the CAD Payout
Ratio also helps improve equity holders' ability to understand the
Company�s ability to make distributions to its shareholders.
Capitalization Rate The Company uses a measure common in the hotel
industry to discuss its underwriting of acquired or disposed hotel
assets. Capitalization rate, for this discussion, is defined as the
percentage derived by dividing the net operating income of the
hotel asset(s), less a management fee and an allowance for
recurring capital expenditures, by the purchase price paid or
received for the hotel asset(s). Leverage Ratio The Company uses a
measure common in the hotel industry to evaluate its financial
leverage. Leverage ratio is defined as the Company�s long-term debt
divided by EBITDA as defined in the financial covenants of its Line
of Credit. Total Shareholder Return The Company uses a measure
common in the hotel industry to discuss its return to common
shareholders. Total shareholder return is defined as reinvested
stock dividend income plus the percentage of stock price
appreciation or minus the percentage of stock price reduction over
the respective period. Total shareholder return is also used by the
Compensation Committee of the Board of Directors as one of the
criteria for performance-based executive compensation. Hotel
Operating Statistics The Company uses a measure common in the hotel
industry to evaluate the operations of its hotel room revenue per
available room, or RevPAR. RevPAR is the product of the average
daily rate, or ADR, charged and the average daily occupancy
achieved. RevPAR does not include food and beverage or other
ancillary revenues such as parking, telephone, or other guest
services generated by the property. Similar to the reporting
periods for the Company's statement of operations, hotel operating
statistics (i.e., RevPAR, ADR and average occupancy) are reported
based on quarter end and year-to-date measures. This facilitates
year-to-year comparisons of hotel results, as each reporting period
will be comprised of the same number of days of operations as in
the prior year. GOP Margin, FFO, AFFO, FFO per share, AFFO per
share, Adjusted EBITDA, CAD, CAD Payout Ratio, Capitalization Rate,
Leverage Ratio, Total Shareholder Return and Hotel Operating
Statistics presented, may not be comparable to the same or
similarly titled measures calculated by other companies and may not
be helpful to investors when comparing Equity Inns to other
companies. This information should not be considered as an
alternative to net income, income from operations, cash from
operations, or any other operating performance measure prescribed
by GAAP. Cash expenditures for various long-term assets (such as
renewal and replacement capital expenditures), interest expense
(for Adjusted EBITDA purposes) and other items have been and will
be incurred and are not reflected in the Adjusted EBITDA, FFO and
AFFO presentations. Equity Inns' statement of operations and cash
flows include disclosure of its interest expense, capital
expenditures, and other excluded items, all of which should be
considered when evaluating the Company's performance, as well as
the usefulness of its non-GAAP financial measures. Additionally,
FFO, AFFO, FFO per share, AFFO per share, Adjusted EBITDA and CAD
should not be considered as a measure of the Company's liquidity or
indicative of funds available to fund its cash needs, including the
Company's ability to make cash distributions. In addition, FFO per
share, AFFO per share and CAD do not measure, and should not be
used as measures of, amounts that accrue directly to shareholders'
benefit. About Equity Inns Equity Inns, Inc. is a self-advised REIT
that focuses on the upscale extended stay, all-suite and midscale
limited-service segments of the hotel industry. The Company, which
ranks as the third largest hotel REIT based on number of hotels,
currently owns 133 hotels with 15,822 rooms located in 35 states.
For more information about Equity Inns, visit the Company's Web
site at www.equityinns.com. EQUITY INNS, INC. CONDENSED
CONSOLIDATED BALANCE SHEETS (in thousands, except share data)
(unaudited) � June 30, 2007 December 31, 2006 ASSETS Investment in
hotel properties, at cost $1,478,800 $1,409,508 Accumulated
depreciation (349,255) (318,189) Investment in hotel properties,
net 1,129,545 1,091,319 Cash and cash equivalents 16,258 7,484
Accounts receivable, net of doubtful accounts of $200 and $200,
respectively � 9,602 7,767 Interest rate swap 441 516 Notes
receivable, net 1,879 1,896 Deferred expenses, net 13,767 13,286
Deposits and other assets, net 18,611 15,014 � Total Assets
$1,190,103 $1,137,282 � LIABILITIES AND SHAREHOLDERS� EQUITY
Long-term debt $690,542 $635,365 Accounts payable and accrued
expenses 48,681 42,445 Distributions payable 16,047 14,855 Minority
interests in Partnership 4,626 4,853 � Total Liabilities 759,896
697,518 � Commitments and Contingencies � Shareholders� Equity: �
Preferred Stock, $.01 par value, 10,000,000 shares authorized
Series B, 8.75%, $.01 par value, 3,450,000 and 3,450,000 shares
issued and outstanding 83,524 83,524 Series C, 8.00%, $.01 par
value, 2,400,000 and 2,400,000 shares issued and outstanding 57,862
57,862 Common stock, $.01 par value, 100,000,000 shares authorized,
55,058,698 and 54,735,137 shares issued and outstanding 551 547
Additional paid-in capital 576,381 574,238 Distributions in excess
of net earnings (288,552) (276,923) Unrealized gain on interest
rate swap 441 516 � Total Shareholders� Equity 430,207 439,764 �
Total Liabilities and Shareholders� Equity $1,190,103 $1,137,282
EQUITY INNS, INC. CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(in thousands, except share data) (unaudited) � For The Three
MonthsEnded June 30, � For the Six MonthsEnded June 30, 2007 � 2006
� 2007 � 2006 Revenue: Room revenue $112,799 $95,732 $214,457
$184,467 Other hotel revenue 4,734 � 3,724 � 8,853 � 7,114 Total
hotel revenue 117,533 99,456 223,310 191,581 � Operating expenses:
Direct hotel expenses 62,127 54,274 118,372 104,162 Other hotel
expenses 3,470 2,799 6,431 5,352 Depreciation 15,628 12,957 31,066
25,629 Property taxes, insurance and other 6,369 6,741 13,793
12,743 General and administrative expenses 4,872 3,226 8,953 6,940
Loss on impairment of hotels � � 3,000 � � � 5,210 Total operating
expenses 92,466 � 82,997 � 178,615 � 160,036 � Operating income
25,067 16,459 44,695 31,545 � Interest expense, net 11,481 � 9,587
� 22,362 � 19,400 � Income from continuing operations before
minority interests and income taxes 13,586 6,872 22,333 12,145
Minority interest income (expense) (169) (168) (261) (110) Deferred
income tax benefit (expense) � � � � � � � � Income from continuing
operations 13,417 6,704 22,072 12,035 � Discontinued operations:
Gain (loss) on sale of hotel properties � 4,552 � 4,535 Loss on
impairment of hotels held for sale � � � (6,690) Income (loss) from
operations of discontinued operations 3 � 394 � (2) � 942 Income
from discontinued operations 3 � 4,946 � (2) � (1,213) � Net income
(loss) 13,420 11,650 22,070 10,822 � Preferred stock dividends
(3,087) (3,087) (6,173) (5,560) � Net income (loss) applicable to
common shareholders $10,333 � $8,563 � $15,897 � $5,262 � Net
income (loss) per share data: Basic and diluted income (loss) per
share: Continuing operations $0.19 $0.07 $0.29 $0.12 Discontinued
operations 0.00 � 0.09 � 0.00 � (0.02) � Net income (loss) per
common shares $0.19 � $0.16 � $0.29 � $0.10 � Weighted average
number of common shares outstanding, basic and diluted 55,058 �
54,630 � 55,036 � 54,470 EQUITY INNS, INC. RECONCILIATION OF NET
INCOME (LOSS) TO FUNDS FROM OPERATIONS, ADJUSTED FUNDS FROM
OPERATIONS AND CASH AVAILABLE FOR DISTRIBUTION (unaudited) � The
following is a reconciliation of net income (loss) to FFO and AFFO,
both applicable to common shareholders, and cash available for
distribution and illustrates the difference in these measures of
operating performance (in thousands, except per share and unit
data): � For the Three Months Ended June 30, � For the Six Months
Ended June 30, 2007 � 2006 � 2007 � 2006 � Net income (loss)
applicable to common shareholders $10,333 $8,563 $15,897 $5,262 �
Add (subtract): (Gain) loss on sale of hotel properties � (4,552) �
(4,535) Minority interests (income) expense 169 168 261 110
Depreciation 15,628 12,957 31,066 25,629 Depreciation from
discontinued operations � � 213 � � � 753 � Funds From Operations
(FFO) 26,130 17,349 47,224 27,219 � Loss on impairment of hotels �
3,000 � 11,900 � Merger costs 1,624 � � � 1,624 � � � Adjusted
Funds From Operations (AFFO) 27,754 � 20,349 � 48,848 � 39,119 �
Add: Amortization of debt issuance costs 481 511 956 977
Amortization of non-cash stock-based compensation and deferred
expenses 918 1,132 1,952 2,227 � Allowance for capital reserves
(4,703) � (3,978) � (8,933) � (7,663) � Cash Available for
Distribution $24,450 � $18,014 � $42,823 � $34,660 � Weighted
average number of diluted common shares and Partnership units
outstanding 55,960 � 55,627 � 55,939 � 55,591 � � � � � � � FFO per
Share and Unit $0.47 � $0.31 � $0.84 � $0.49 � � � � � � � AFFO per
Share and Unit $0.50 � $0.37 � $0.87 � $0.70 � � � � � � � Cash
Available for Distribution per Share and Unit $0.44 � $0.32 � $0.77
� $0.62 EQUITY INNS, INC. RECONCILIATION OF NET INCOME (LOSS) TO
ADJUSTED EBITDA (unaudited) � � The following is a reconciliation
of net income (loss) applicable to common shareholders to Adjusted
EBITDA and illustrates the difference in these measures of
operating performance (in thousands): � For the Three Months Ended
June 30, � For the Six Months Ended June 30, 2007 � 2006 � 2007 �
2006 � Net income (loss) applicable to common shareholders $10,333
$8,563 $15,897 $5,262 � Add (subtract): Preferred stock dividends
3,087 3,087 6,173 5,560 (Income) loss from discontinued operations
(3) (4,946) 2 1,213 Minority interests (income) expense 169 168 261
110 Interest expense, net 11,481 9,587 22,362 19,400 Loss on
impairment of hotels � 3,000 � 5,210 Depreciation 15,628 12,957
31,066 25,629 Amortization of non-cash stock-based compensation and
deferred expenses 918 � 1,132 � 1,952 � 2,227 � Adjusted EBITDA
$41,613 � $33,548 � $77,713 � $64,611 Equity Inns, Inc. � Hotel
Performance � For the Three Months Ended June 30, 2007 and 2006 �
All Comparable (1) � � RevPAR (2) � Occupancy � ADR # of Rooms � #
of Hotels � 2007 � Variance to 2006 � 2007 � Variance to 2006 �
2007 � Variance to 2006 Portfolio 15,822 133 $78.90 6.6% 75.8% -0.5
pts. $104.07 7.4% � Franchise Hampton Inn 5,554 45 $73.11 8.8%
75.5% 0.4 pts. $96.87 8.2% Residence Inn 2,299 23 $88.44 7.3% 79.5%
1.3 pts. $111.29 5.6% AmeriSuites 2,291 18 $59.79 -2.3% 68.0% -4.4
pts. $87.97 4.0% Courtyard 1,664 16 $89.07 2.2% 78.7% -4.0 pts.
$113.23 7.4% Homewood Suites 1,378 10 $108.81 12.6% 82.9% 1.1 pts.
$131.26 11.2% SpringHill Suites 694 7 $78.55 8.3% 79.0% 0.5 pts.
$99.43 7.7% Hilton Garden Inn 489 4 $73.99 1.6% 73.2% -0.5 pts.
$101.13 2.3% Holiday Inn 397 3 $64.82 7.6% 70.7% -0.1 pts. $91.67
7.8% Hampton Inn & Suites 291 2 $84.98 1.4% 72.4% -3.5 pts.
$117.38 6.3% Comfort Inn 281 2 $77.96 17.0% 68.5% 4.2 pts. $113.86
9.9% Embassy Suites 246 1 $105.24 7.8% 79.9% 1.8 pts. $131.69 5.4%
Fairfield Inn & Suites 143 1 $63.88 7.5% 75.9% -0.6 pts. $84.18
8.4% TownePlace Suites 95 1 $60.20 28.9% 76.9% 12.0 pts. $78.24
8.7% � Region East North Central 2,399 19 $75.78 9.3% 70.5% -1.5
pts. $107.53 11.6% East South Central 2,320 22 $76.52 8.7% 77.0%
0.0 pts. $99.32 8.7% Middle Atlantic 825 6 $83.10 8.6% 75.6% 3.9
pts. $109.87 3.0% Mountain 1,155 9 $73.54 5.9% 77.3% -0.8 pts.
$95.09 6.9% New England 809 7 $70.92 8.7% 73.7% 1.0 pts. $96.24
7.2% Pacific 474 3 $113.62 11.0% 86.3% 2.9 pts. $131.64 7.3% South
Atlantic 5,405 48 $81.49 4.2% 77.0% -0.6 pts. $105.78 5.1% West
North Central 830 7 $71.58 3.6% 71.5% -3.9 pts. $100.06 9.3% West
South Central 1,605 12 $77.63 6.5% 77.1% -1.9 pts. $100.72 9.1% �
Type Upper Upscale 246 1 $105.24 7.8% 79.9% 1.8 pts. $131.69 5.4%
Upscale 8,815 78 $82.72 5.1% 76.5% -1.4 pts. $108.16 7.0% Midscale
without Food & Beverage 6,364 51 $73.47 8.9% 75.1% 0.5 pts.
$97.88 8.2% Midscale with Food & Beverage 397 3 $64.82 7.6%
70.7% -0.1 pts. $91.67 7.8% (1) All Comparable is defined as our
system-wide gross lodging revenues for hotels that the Company
owned at period end. (2) RevPAR is calculated by multiplying the
Company�s average daily rate (ADR) by occupancy. Equity Inns, Inc.
� Hotel Performance � For the Six Months Ended June 30, 2007 and
2006 � All Comparable (1) � RevPAR (2) � Occupancy � ADR # of Rooms
� # of Hotels � 2007 � Variance to 2006 � 2007 � Variance to 2006 �
2007 � Variance to 2006 Portfolio 15,822 133 $75.92 5.4% 72.6% -1.1
pts. $104.53 6.9% � Franchise Hampton Inn 5,554 45 $70.38 7.9%
71.9% 0.5 pts. $97.88 7.2% Residence Inn 2,299 23 $85.83 7.7% 76.3%
0.6 pts. $112.53 6.9% AmeriSuites 2,291 18 $58.49 -2.4% 66.0% -4.5
pts. $88.56 4.2% Courtyard 1,664 16 $85.86 1.5% 75.7% -4.6 pts.
$113.44 7.6% Homewood Suites 1,378 10 $98.58 7.6% 77.6% -1.8 pts.
$126.99 10.1% SpringHill Suites 694 7 $74.22 9.6% 76.2% 1.2 pts.
$97.45 7.8% Hilton Garden Inn 489 4 $76.15 2.6% 71.5% 0.7 pts.
$106.52 1.6% Holiday Inn 397 3 $55.57 9.9% 63.8% -0.8 pts. $87.14
11.3% Hampton Inn & Suites 291 2 $101.29 -2.3% 76.3% -4.1 pts.
$132.67 2.9% Comfort Inn 281 2 $70.04 10.6% 65.8% 3.1 pts. $106.45
5.5% Embassy Suites 246 1 $107.10 2.7% 76.9% -1.8 pts. $139.28 5.1%
Fairfield Inn & Suites 143 1 $59.32 4.4% 71.6% -3.4 pts. $82.81
9.3% TownePlace Suites 95 1 $57.16 5.8% 75.1% -1.5 pts. $76.07 7.9%
� Region East North Central 2,399 19 $66.79 7.4% 65.2% -1.1 pts.
$102.48 9.2% East South Central 2,320 22 $70.65 5.9% 72.3% -2.3
pts. $97.75 9.3% Middle Atlantic 825 6 $72.62 13.1% 68.8% 6.0 pts.
$105.53 3.3% Mountain 1,155 9 $75.33 6.4% 75.7% -0.7 pts. $99.47
7.4% New England 809 7 $62.41 5.0% 66.4% -1.2 pts. $94.00 6.8%
Pacific 474 3 $104.82 9.8% 82.7% 2.5 pts. $126.70 6.5% South
Atlantic 5,405 48 $84.06 2.3% 75.8% -1.8 pts. $110.86 4.7% West
North Central 830 7 $66.85 5.1% 68.5% -2.4 pts. $97.62 8.8% West
South Central 1,605 12 $75.09 8.0% 75.6% -1.1 pts. $99.36 9.6% �
Type Upper Upscale 246 1 $107.10 2.7% 76.9% -1.8 pts. $139.28 5.1%
Upscale 8,815 78 $79.27 4.2% 73.4% -2.0 pts. $107.94 7.0% Midscale
without Food & Beverage 6,364 51 $71.33 7.2% 71.9% 0.3 pts.
$99.23 6.8% Midscale with Food & Beverage 397 3 $55.57 9.9%
63.8% -0.8 pts. $87.14 11.3% (1) All Comparable is defined as our
system-wide gross lodging revenues for hotels that the Company
owned at period end. (2) RevPAR is calculated by multiplying the
Company�s average daily rate (ADR) by occupancy.
Equity Inns (NYSE:ENN)
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From Jun 2024 to Jul 2024
Equity Inns (NYSE:ENN)
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From Jul 2023 to Jul 2024