Host Hotels & Resorts Updates 2015 Outlook - Quick Facts

(RTTNews) - Host Hotels & Resorts, Inc. (HST) announced that in connection with potential future capital markets transactions including additional repurchases of company stock and in light of a combination of anticipated asset sale transactions, hotel management transitions, and recent market developments, it is providing an update to its full year guidance. For 2015, the company now estimates: adjusted FFO per share of $1.50 to $1.52; NAREIT FFO per share of $1.44 to $1.46; earnings per share of $0.69 to $0.71; and adjusted EBITDA of $1.385 billion to $1.400 billion.

Host Hotels said, after benefitting from 5% comparable hotel RevPAR growth on a constant dollar basis in July, the company experienced weak comparable hotel RevPAR growth of just 0.7% in August. The company said these trends are expected to continue into September, and may have some impact on fourth quarter operations.

For full year 2015, the company expects total comparable hotel RevPAR growth in the range of 4.0% to 4.5%.

"We continue to be impressed by our advance bookings for 2016, and expect to have a very solid growth on both the top and bottom line. And while we are disappointed with our current share price, we view our pricing as very attractive, and expect to continue to execute on our stock repurchase program," said Edward Walter, president and CEO.