| ATLANTA, Sept. 23, 1999 - Bass Hotels Resorts reports positive
results for its Fiscal Third Quarter (April - June 1999) with RevPAR growth
significantly exceeding competitor performance of the U.S. market in each
of its segments - Midscale with Food Beverage, Midscale without Food Beverage
and Upscale. The company observes an Oct. 1 - Sept. 30 fiscal year.
U.S. Results For The Third Quarter
Holiday Inn Hotels and Resorts achieved a 4.1 percent increase in RevPAR
(versus 1.2 percent increase for the remaining U.S. Midscale with Food
Beverage segment*), reaching $53.50 for the third quarter ended June 30,
1999; Average Daily Rate (ADR) was up 4.8 percent to $77.34. Occupancy
for the brand was down slightly at 0.4 percentage points to 69.2 percent.
However, competitive segment occupancies were down much more significantly.
Rooms were 212,846, a 4.5 percent decrease as the brand�s quality program
continues to take effect.
Holiday Inn Express-branded hotels reported a 6.8 percent increase in
RevPAR (versus 1.3 percent increase for the remaining U.S. Midscale without
Food Beverage segment*) to $45.68; ADR also was up 5.6 percent to $66.37.
Occupancy increased 0.6 percentage points to 68.8 percent for the three-month
period, countering the industry down trend. Brand distribution continues
to expand with room count up 14.1 percent to 66,025.
Crowne Plaza RevPAR improved with a 2.1 percent increase (versus a 0.3
percent decline for the remaining U.S. Upscale segment*) to $77.44; ADR
reached $108.43 representing an
increase of 3.8 percent. The brand�s average occupancy was down 1.2
percentage points to 71.4 percent. Rooms were up 4.8 percent, to 20,544.
*Competitive Segment Data information from Smith Travel Research
Bass Hotels Resorts: Fiscal
Year 98 / 99 U.S. Results
Based on returns submitted by franchisees up to the date
of this report
|
|
3rd Qtr
Apr 99 - Jun 99
|
YTD, FY 99
Oct 98 - Jun 99
|
YTD, CY 99
Jan 99 - Jun 99
|
|
Occupancy
|
%
|
Pts +/- P/Y
|
%
|
Pts +/- P/Y
|
%
|
Pts +/- P/Y
|
| Holiday Inn |
69.2 |
-0.4 |
63.5 |
0.2 |
65.4 |
-0.1 |
| Holiday Inn Express |
68.8 |
0.6 |
62.1 |
1.7 |
64.2 |
1.2 |
| Crowne Plaza |
71.4 |
-1.2 |
68.2 |
-0.8 |
69.2 |
-.06 |
|
|
|
|
|
|
|
|
Average Daily Rate
|
$
|
% Growth
|
$
|
% Growth
|
$
|
% Growth
|
| Holiday Inn |
77.34 |
4.8 |
74.99 |
5.0 |
76.12 |
4.8 |
| Holiday Inn Express |
66.37 |
5.6 |
64.00 |
5.6 |
64.96 |
5.6 |
| Crowne Plaza |
108.43 |
3.8 |
107.53 |
5.6 |
107.51 |
4.4 |
|
|
|
|
|
|
|
|
RevPAR
|
$
|
% Growth
|
$
|
% Growth
|
$
|
% Growth
|
| Holiday Inn |
53.50 |
4.1 |
47.61 |
5.2 |
49.81 |
4.7 |
| Holiday Inn Express |
45.68 |
6.8 |
39.75 |
7.4 |
41.72 |
7.6 |
| Crowne Plaza |
77.44 |
2.1 |
73.30 |
4.7 |
74.41 |
3.6 |
System Size as of 6/30/99
|
|
Hotels
|
% Growth
|
| Holiday Inn |
1,105 |
-4.9 |
| Holiday Inn Express |
844 |
16.1 |
| Crowne Plaza |
64 |
8.5 |
System Size as of 6/30/99
|
|
Rooms
|
% Growth
|
| Holiday Inn |
212,846 |
-4.5 |
| Holiday Inn Express |
66,025 |
14.1 |
| Crowne Plaza |
20,544 |
4.8 |
Based on returns submitted by franchisees up to the date of this announcement.
 Bass
Hotels Resorts, the hotel business of U.K.-based Bass PLC (NYSE: BAS),
operates and/or franchises the Holiday Inn, Holiday Inn Express, Crowne
Plaza Hotels and Resorts, Staybridge Suites by Holiday Inn and Inter-Continental
Hotels and Resorts lodging brands. Bass PLC American Depository Receipts
trade on the New York Stock Exchange under the trading symbol �BAS.�
|
