Interstate Hotels & Resorts posts loss, expects larger declines

05/7/2009 | American City Business Journals

Interstate Hotels & Resorts Inc. posted a 19.1% decline in revenue per available room in the first quarter as occupancy dropped 10.3% compared to the same period a year ago. The company showed a net loss of $12.5 million for the quarter, compared with a net loss of $290,000 a year ago, and Interstate now is predicting a larger decline in its 2009 revenue per available room metric than previously forecast.

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