| Business Summary | | Prime
Hospitality
Corp.
(Prime)
is
an
owner,
manager
and
franchisor
of
hotels,
with
239
hotels
in
operation,
containing
30,750
rooms
located
in
33
states
as
of
December
31,
2000.
Prime
controls
two
hotel
brands,
AmeriSuites
and
Wellesley
Inn
&
Suites,
as
well
as
a
portfolio
of
upscale,
full-service
hotels
operated
under
franchise
agreements
with
national
hotel
chains.
As
of
December
31,
2000,
the
Company
owned
and
operated
135
hotels,
55
of
which
were
under
lease
agreements
primarily
with
real
estate
investment
trusts,
managed
24
hotels
for
third
parties
and
franchised
25
hotels
that
it
does
not
operate.
Prime's
hotels
can
be
categorized
into
three
types,
AmeriSuites,
Wellesley
Inn
&
Suites
and
non-proprietary
brands. | More
from
Market Guide: Expanded
Business Description |
| Financial Summary | | PDQ
is
an
owner,
operator,
manager
and
franchisor
of
hotels,
with
239
hotels
in
operation
containing
30,750
rooms
located
in
32
states
as
of
March
2000.
For
the
six
months
ended
6/30/01,
revenues
decreased
5%
to
$265.9
million.
Net
income
before
extraordinary
item
fell
14%
to
$30.3
million.
Revenues
reflect
lower
occupancies
due
to
an
overall
slowdown
in
business
travel.
Earnings
also
suffered
from
increased
rent
and
occupancy
expenses
and
higher
energy
costs. | More
from
Market Guide: Significant
Developments |
| | | | FY1999
Compensation | | Pay | Exer | |
| A. Petrocelli, 56 Pres,
CEO, Chairman | $1.4M | -- | Douglas Vicari, 40 Sr.
VP, CFO, Director | 272K | $40K | Joseph Bernadino, 53 Sr.
VP, Law,Sec., Gen. Counsel | -- | -- | John Leavitt, 47 Sr.
VP of Sales and Marketing | 271K | -- | Ed Dykes, 49 Sr.
Vice Hotel Operations | -- | -- | Dollar
amounts are as of 31-Dec-1999 and compensation values are for the fiscal year ending on that date; "Pay" is salary, bonuses, etc.; "Exer" is the value of options excercised during the fiscal year. |
| More
from
Market Guide on Officers & Directors: Expanded
List, Bios,
Compensation,
Options
|
|