Host Hotels & Resorts (HST) Reports In-Line Q3 FFO; FY11 FFO Comes In-Line with Views
Host Hotels & Resorts (NYSE: HST) reported Q3 FFO of $0.16, in-line with the analyst estimate of $0.16. Revenue for the quarter came in at $1.09 billion versus the consensus estimate of $1.13 billion.
Comparable hotel RevPAR increased 6.4% for the third quarter, as a result of the improvement of average room rate of 3.7%, combined with an increase in occupancy of 1.9 percentage points to 75.8%.
Host Hotels & Resorts sees FY2011 FFO of $0.89-$0.91, versus the consensus of $0.91.
Comparable hotel RevPAR increased 6.4% for the third quarter, as a result of the improvement of average room rate of 3.7%, combined with an increase in occupancy of 1.9 percentage points to 75.8%.
Host Hotels & Resorts sees FY2011 FFO of $0.89-$0.91, versus the consensus of $0.91.