Minnesota Second Mortgage
Ashford Hospitality Trust Reports Second Quarter Results
DALLAS, Aug. 2 /PRNewswire-FirstCall/ -- Ashford Hospitality Trust, Inc. (NYSE: AHT - News) today reported the following results and performance measures for the second quarter ended June 30, 2006. The proforma performance measurements for Occupancy, ADR, RevPAR, and Hotel Operating Profit include the Company's 72 core hotels. Unless otherwise stated, all reported results compare the second quarter ended June 30, 2006, to the second quarter ended June 30, 2005. The reconciliation of non-GAAP financial measures is included in the financial tables accompanying this press release.
As of June 30, 2006, the Company had a portfolio of direct hotel investments consisting of 72 properties, all of which were classified in continuing operations. During the second quarter, 67 of the hotels included in continuing operations were not under renovation.
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2nd Wind picking up speed
Since starting 2nd Wind Exercise Equipment nearly 15 years ago, founder and chief executive officer Dick Enrico has been the marketing muscle behind the fitness equipment retailer.
The pudgy 66-year-old Twin Cities entrepreneur is best known as his company's TV and billboard pitchman for its signature slogan: "Why buy new when slightly used will do? Except when the deals are this good!''
But Enrico is proving these days he can do a lot more than pitch a quirky jingle. He is leading Eden Prairie-based 2nd Wind on an aggressive expansion plan that would bring the company's store count to 120 or so by the end of 2007 triple the number it had just two years ago. That raises two big questions: Will 2nd Wind be able to manage such accelerated growth? And as demand for home-fitness equipment slows, can 2nd Wind outpace the market?
Risk has been part of Enrico's modus operandi for more than four decades.