Host Hotels Tightens FY16 Adj. FFO View; Cuts Revenue Growth Forecast

(RTTNews) - Host Hotels & Resorts, Inc. (HST), a lodging real estate investment trust, on Wednesday said it now expects fiscal 2016 NAREIT and adjusted FFO per share in the range of $1.64 to $1.66.

On average, 20 analysts polled by Thomson Reuters expected earnings of $1.65 per share. Analysts' estimates typically exclude special items.

Net income is expected to be $732 million to $746 million, and earnings per share of $0.97 to $0.99.

Adjusted EBITDA, a key earnings metric, is expected to be $1.44 billion to $1.455 billion.

Previously, the company expected NAREIT and adjusted FFO of $1.63 to 1.67 per share, net income of $732 million to $762 million or earnings per share of $0.97 to $1.01, adjusted EBITDA of $1.435 billion to $1.465 billion.

Total revenues are now expected to grow 0.6 percent to 1.1 percent, and total comparable hotel RevPAR at constant rates are now expected at 2 percent to 2.5 percent.

Previously, the company expected total revenue growth of 1 percent to 1.9 percent and total comparable hotel RevPAR at constant rates at 2 percent to 3 percent.

The company said it expects that a slowdown in business travel, the election cycle and the timing of the holiday calendar will significantly affect its ability to grow RevPAR in the fourth quarter.