WILLIAMSBURG, Va., Aug. 7 /PRNewswire-FirstCall/ -- MHI Hospitality Corporation (Nasdaq: MDH) ("the Company"), a self-advised lodging real estate investment trust (REIT), today reported its consolidated results for the second quarter ended June 30, 2009.
HIGHLIGHTS:
Funds from Operations ("FFO") of approximately $0.23 per share for second quarter
Same-store operating margins improved 4 percentage points over second quarter 2008
Same-store hotel operating expenses decreased approximately $2.2 million or 16.6% over second quarter 2008 as a result of the Company's expense control and cost-cutting initiatives
Operating margins increased 12.8% over second quarter 2008
Total revenue increased 0.4 % over second quarter 2008
Total assets of approximately $220.5 million at June 30, 2009, versus approximately $194.1 million at end of second quarter 2008
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