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Article: 1997 Marks Year of Growth, Reinvestment for Omni Hotels.
- Article from:
- Business Wire
- Article date:
- April 30, 1998
CopyrightCOPYRIGHT 1998 Business Wire. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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IRVING, Texas--(BUSINESS WIRE)--April 30, 1998--Omni Hotels experienced a banner year in 1997.
Company RevPAR (revenue per available room) and EBITDA (earnings before interest, tax, depreciation and amortization) were up, a $300 million capital improvements program was put into place, new hotels were added to the company's portfolio, extensive renovations began on several existing properties, new company-wide technology systems were developed and a new national advertising campaign was launched.
According to Smith Travel Research, Omni Hotels' RevPAR was more than 20 percent higher than the upscale industry competition. Significantly contributing ...