Host Hotels & Resorts (NYSE: HST) reported Q2 EPS of $0.28, $0.02 better than the analyst estimate of $0.26. Revenue for the quarter came in at $1.52 billion versus the consensus estimate of $1.48 billion. Adjusted FFO was up 10.2% to $0.54.

GUIDANCE:

Raises Total comparable hotel RevPAR - Constant US$ guidance from 1.5%-2.5% to 1.5%-2.5%. Raises Total revenues under GAAP from 2.0%-3.0% to 2.2%-2.9%. Raises Operating profit margin under GAAP from 0-60bps to 80-140bps. Raises Comparable hotel EBITDA margins from (10)-30bps to 25-75bps.

James F. Risoleo, President and Chief Executive Officer, said, “We are again pleased to report operating results that meaningfully exceeded our expectations for the quarter, resulting in strong bottom-line performance and increased full-year guidance. Another quarter of record occupancy enabled our managers to drive room rate growth, which combined with strong food and beverage profitability and increased ancillary revenues, led to excellent margin improvement.”

“We continued to execute on the transaction front as we completed the previously disclosed sale of the W New York on Lexington Avenue for $190 million, while placing the W New York – Union Square under contract for $171 million with a sizeable deposit at risk,” continued Mr. Risoleo. “These asset sales further emphasize our capital recycling efforts as we hone our iconic and irreplaceable portfolio of hotels, while providing additional flexibility to our investment grade balance sheet. Combined with our unmatched scale and platform, we are well positioned to continue to create value for stockholders and enhance the world’s premier lodging REIT.”

For earnings history and earnings-related data on Host Hotels & Resorts (HST) click here.