Host Hotels & Resorts Q2 Profit Grows - Quick Facts

(RTTNews) - Lodging real estate investment trust Host Hotels & Resorts Inc. (HST) posted higher second-quarter 2013 net income attributable to the company of $119 million, or $0.16 a share, compared with the prior year's $82 million, or $0.11 a share. Adjusted FFO per share amounted to $0.45 for the recent period. On average, 9 analysts polled by Thomson Reuters expected earnings per share of $0.40 for the quarter. Analysts' estimates typically exclude one-time items.

Total revenues climbed year-over-year to $1.42 billion, from $1.33 billion. Analysts estimated revenues of $1.43 billion for the quarter.

The company said the improvements in its results were driven by a 6.1% growth in comparable hotel RevPAR and strong margin growth for the second quarter.

For 2013, Host Hotels expects earnings per share to range from about $0.34 - $0.38; net income to range from $265 million to $290 million; and adjusted FFO per share to range from nearly $1.28 - $1.32. Nine analysts project earnings of $1.30 per share for the year.