Fri, Oct. 23, 10:04 AM
- Q3 adjusted FFO of $98.8M or $0.87 per share vs. $88.3M and $0.85 one year ago.
- RevPAR of $210.74 down from $216 a year ago. EBITDA margin down 9 basis points to 36.3%. Adjusted EBITDA up 5.2% to $114.6M.
- At issue during the quarter were alleged health and safety violations at two NYC hotels by the hotel workers union (retaliation for a management company change in SF, says LaSalle). Despite no adverse past history, the company was forced to test against all claims, forcing the closure of many rooms during the final six weeks of Q3 and first three weeks of Q4. The result was both hotels running at just 14.5% occupancy in September. The conflict has been resolved and both hotels are back to normal.
- Suffice it to say, the above numbers would have looked far better without the closures. Adjusted FFO, for one, would have been $0.91 per share vs. consensus of $0.89.
- Q4 adjusted FFO per share is expected at $0.69-$0.73, including a $0.02 impact from the closures.
- The earnings call starts in one hour.
- Previously: LaSalle Hotel Properties misses by $0.02, misses on revenue (Oct. 22)
- Credit Suisse downgrades to Neutral with price target cut to $31 from $37.
- LHO -7.4% to $29.25.
Thu, Oct. 22, 4:16 PM
Wed, Oct. 21, 5:35 PM
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Wed, Jul. 22, 4:38 PM
- Adjusted FFO of $102.6M or $0.91 per share vs. $86M and $0.82 one year ago.
- RevPAR of $219.76 up 4.1% Y/Y. EBITDA margin of 38.5% vs. 36.1%.
- Full-year outlook: RevPAR growth of 3.5-4.5%. EBITDA margin change of 175-225 bps. Adjusted EBITDA of $398M-$408M. Adjusted FFO per share of $2.87-$2.94. The midpoint of the EBITDA outlook is $5M higher than previously.
- Earnings call tomorrow at 10 ET
- Previously: LaSalle Hotel Properties beats by $0.01, misses on revenue (July 22)
- LHO +0.2% after hours
Wed, Jul. 22, 4:10 PM
Tue, Jul. 21, 5:35 PM| Tue, Jul. 21, 5:35 PM | 5 Comments
Wed, Apr. 22, 4:39 PM
- Q1 adjusted FFO of $45.3M or $0.40 per share vs. $33.2M and $0.32 one year ago. Dividend is $0.38. Q2 dividend is boosted to $0.45.
- RevPAR of $159.96 up 5.4% Y/Y. EBITDA margin of 25.2% up 245 bps. Adjusted EBITDA of $57.2M up 27.4%.
- 2015 outlook: RevPAR growth of 4.5-6.5%. Hotel EBITDA margin of 125-175 bps (50-150 bps previously). Adjusted EBITDA of $391M-$405M ($377M-$395M previously). Adjusted FFO per share of $2.78-$2.90 ($2.67-$2.84 previously).
- Earnings call tomorrow at 10 ET
- Previously: LaSalle Hotel Properties beats by $0.05, beats on revenue (April 22)
- LHO -0.45% after hours
Wed, Apr. 22, 4:19 PM
Tue, Apr. 21, 5:35 PM| Tue, Apr. 21, 5:35 PM | 6 Comments
Wed, Feb. 18, 4:36 PM
- Q4 adjusted FFO of $63M or $0.59 per share vs. $55.8M and $0.55 one year ago.
- RevPAR of $181.49 up 7.7% Y/Y. EBITDA margin of 32% up 163 basis points.
- CEO Michael Barnello: "U.S. lodging demand continued to exceed our expectations, with its growth rate accelerating during each successive quarter in 2014."
- 2015 outlook: RevPAR growth of 4.5-6.5%. Hotel EBITDA margin increase of 50-150 bps. Adjusted FFO per share of $2.67-$2.84 vs. $2.58 in 2014.
- Updated investor presentation
- Earnings call tomorrow at 11 ET
- Previously: LaSalle Hotel Properties misses by $0.01, revenue in-line (Feb. 18)
- LHO flat after hours
Wed, Feb. 18, 4:14 PM
Tue, Feb. 17, 5:35 PM
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Oct. 22, 2014, 4:31 PM
- Q3 adjusted FFO of $88.3M or $0.85 per share vs. $72.8M and $0.76 one year ago. Dividend is $0.375.
- RevPAR of $212.98 up 11.5% Y/Y, with EBITDA margin of 37.2% up 211 basis points. Average daily rate up 10.2% to $242.25, and occupancy up 110 bps to 87.9%.
- CEO Michael Barnello: "U.S. lodging demand exceeded our expectations during Q3 and industry ADR continued on its trajectory of strong growth."
- Full-year guidance: RevPAR growth of 8.75%-9.25% vs. previous of 6.5%-8%; Adjusted FFO per share of $2.56-$2.60 vs. previous $2.44-$2.54.
- Conference call tomorrow at 10 ET
- Previously: LaSalle Hotel started at Buy ahead of earnings
- Previously: LaSalle Hotel Properties beats by $0.06, beats on revenue
- LHO flat AH
Oct. 22, 2014, 4:14 PM
Oct. 21, 2014, 5:35 PM
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Jul. 23, 2014, 4:35 PM
LaSalle Hotel Properties is a real estate investment trust. The Company's business includes buying, owing, redeveloping & leasing mainly upscale & luxury full-service hotels located in convention, resort & urban business markets.
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