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Hospitality Properties Q1 hurt by weather, government shutdown

May 10, 2019 9:19 AM ETService Properties Trust (SVC) StockBy: Liz Kiesche, SA News Editor
  • Hospitality Properties Trust (HPT) Q1 normalized FFO of $144.6M, or 88 cents per share, falls from $154.9M, or 94 cents per share, in the year-ago period as the quarter was marred by significant weather events, the U.S. government shutdown, and competition from new hotels.
  • Occupancy decreases at 28 hotels under renovation also hurt results.
  • Q1 normalized FFO per share matched the consensus estimate.
  • Q1 comparable hotel RevPAR declined 3.2% Y/Y due to the factors mentioned above; comparable RevPAR at hotels unaffected by those events increased 1.6%.
  • Q1 total revenue of $524.9M fell 0.7% from $528.6M a year ago; trails consensus estimate of $529.7M.
  • Conference call at 10:00 AM ET.
  • Previously: Hospitality Properties misses on revenue (May 10)

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