Hospitality Properties Trust (HPT) Tops Q2 EPS by 34c, Revenues Beat

Hospitality Properties Trust (NASDAQ: HPT) reported Q2 EPS of $0.59, $0.34 better than the analyst estimate of $0.25. Revenue for the quarter came in at $511.95 million versus the consensus estimate of $600.5 million.

John Murray, President and Chief Executive Officer of HPT, made the following statement:

“HPT’s second quarter 2018 comparable hotel RevPAR grew 2.0% compared to the prior year period despite competition from new room supply growth and disruption from hotel renovations. Eleven comparable hotels were under renovation for all or part of the second quarter. Coverage of hotel minimum rents and returns for the second quarter 2018 was 1.22 times.

Our TA properties generated improved performance for the second quarter of 2018. Total gross margin was up $9.7 million, or 3.1%, versus the same period last year and our travel centers’ rent coverage improved to 1.69 times.”

For earnings history and earnings-related data on Hospitality Properties Trust (HPT) click here.

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