Press Release: Jameson Inns, Inc.
July 17, 2002
ATLANTA, GA -- Jameson Inns, Inc. (Nasdaq: JAMS), a hotel real estate investment trust (REIT), and owner of Jameson
Inn and Signature Inn hotels, yesterday announced that revenue per available room ("RevPAR") at its owned
properties was $33.94 in June, down less than five percent from June 2001. Average daily rate ("ADR")
at its owned properties increased two percent in June 2002 while occupancy rates for its owned hotels declined
just over 4 points compared to June in 2001.
Occupancy ADR RevPAR
2002 2001 2002 2001 2002 2001
June
Jameson Inns 61.4 % 61.7 % $57.19 $55.95 $35.13 $34.55
Signature Inns 51.0 % 62.4 % $62.26 $60.48 $31.78 $37.73
All Inns 57.7 % 62.0 % $58.78 $57.62 $33.94 $35.72
Smith Travel Research reported that preliminary June figures show RevPAR declining 4 to 6% for the entire U.S.
lodging industry. Commenting on the June numbers, CEO Thomas W. Kitchin stated, "Although RevPAR for all of
our hotels was down a little more in June than in April or May, we mirrored what the rest of the industry experienced.
The trend for the last three months is encouraging."
Jameson Inns is a hotel real estate investment trust (REIT) which owns limited-service hotel properties operating
as Jameson Inns and Signature Inns. For more information, visit www.jamesoninns.com
.
Forward-Looking Statements
This press release contains certain "forward-looking" statements within the meaning of Section 27A of
the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. These
statements represent the Company's judgment and are subject to various risks and uncertainties that could cause
actual operating results to differ materially from those expressed or implied in the forward-looking statements.
From time to time, these risks are discussed in the Company's filings with the Securities and Exchange Commission,
including but not limited to the Annual Report on Form 10-K and Quarterly Reports on Form 10-Q.
SOURCE: Jameson Inns, Inc.