FINANCIAL HIGHLIGHTS AND LIQUIDITY
-- Corporate unrestricted cash at the end of the quarter was $197.9 million
-- Total revenue decreased 22.7% to $220.6 million from $285.3 million
-- Net loss available to common shareholders was $33.6 million, or $0.52
per diluted share, compared with net income of $1.8 million, or $0.01
per diluted share, in the prior-year quarter
-- Adjusted funds from operations (AFFO) was $0.18 per diluted share
-- Cash available for distribution (CAD) was $0.09 per diluted share
-- Fixed charge ratio was 1.60x under the senior credit facility covenant
versus a required minimum of 1.25x
-- The company expects to close the refinancing of a $75 million loan, its
sole 2010 hard debt maturity (excludes the $29 million Hyatt Dearborn
loan due in 2010), together with a $65 million loan coming due in 2011.
Read more:
