Meristar Hotels & Resorts (MMH) Message Board

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Strategies & Market Trends : Meristar Hotels & Resorts (MMH)

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To: professor who wrote (10)	2/2/1999 9:36:00 AM
From: professor	Read Replies (1) of 21

Meristar Hospitality (MHX) and Meristar Hotels (MMH) announced excellent earning numbers today. MHX reported 79 cents FFO, 4 cents higher than consensus and MMH reported a loss of 2 cents, in line with expectations. RevPar growht was up 5.8% and occupancy up 1.5% and avg. daily rate rose 4.2%. MMH reported 13 cents for the year. (MMH's earnings for the 4th quarter are usually lower because of the structure of the payment of the mgmt. contracts) The press release also says that since October 1, MMH has added five mgmt. contracts and signed an additional five agreements to manage properties under construction, including two Westins. MHX reports that "our capital structure remains conservative and prudent. We have no debt maturities in 1999 and are taking advanatage of the recent decrease in LIBOR rates. We are maintaining an interest coverage ratio in excess of three times and dividend offers an attractive and secure yield in excess of 10%." This is great news that should drive both stocks higher.

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