- "The softening of operating fundamentals that the company discussed on its Q2 and Q3 earnings call has continued," says LaSalle Hotel (NYSE:LHO). The company expects Q4 will represent the fifth consecutive quarter of decelerating RevPAR for the U.S. hotel industry.
- This trend has clouded the outlook going forward, says LaSalle, and it thus does not intend to provide 2016 guidance.
- For Q4 2015, RevPAR is seen as coming in flat vs. previous expectation for 1-3% growth. Adjusted EBITDA should be $89M-$90M vs. $90.5M-$93M previously anticipated.
- Source: Press Release