Press Release: Suburban Lodges of America, Inc.
November 8, 2001
ATLANTA, GA -- Suburban Lodges of America, Inc. (Nasdaq:SLAM), owner/franchisor of the Suburban Lodge and GuestHouse
International hotel brands and operator of 65 Company-owned Suburban Lodge hotels, yesterday announced that weekly
revenue per available room (``RevPAR'') at its owned properties was $152.41 in October 2001, a 6.5% decline from
weekly RevPAR of $163.04 in October 2000.
Average weekly rate (``AWR'') declined 1.2% to $194.76 in October 2001 from $197.03 in October 2000. Occupancy
rates for Company-owned hotels averaged 78.5% in October 2001, a 5.2% decline from average occupancy of 82.8% in
October 2000.
``In light of the current economic environment, we believe that our hotels' October performance held up very well,
particularly as other hotel chains compete with us for a reduced number of travelers,'' commented Chuck Criscillis,
Chief Financial Officer. ``Our fully-equipped kitchens in every guestroom help create the added value that has
resulted in year-over-year comparisons that far exceed the hotel industry's overall experience.''
Suburban Lodges of America, Inc. owns, franchises and manages Suburban Lodge hotels, the nation's largest chain
of economy extended stay hotels, and franchises GuestHouse International hotels, the mid-market nightly stay hotel
chain with a franchisee-friendly franchise agreement.
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Contact:
Suburban Lodges of America, Inc.
Paul A. Criscillis, Jr., 770/799-5000