- Host Hotels & Resorts press release (NASDAQ:HST): Q2 FFO of $0.53 misses by $0.03.
- Revenue of $1.39B (+0.7% Y/Y) misses by $30M.
- Host delivered comparable hotel RevPAR growth of 2.7% over the second quarter of 2022.
- Comparable hotel Total RevPAR was $367.54 for the second quarter and $366.74 year-to-date, representing an increase of 3.8% and 16.9%, respectively, compared to the same periods in 2022.
- Comparable hotel RevPAR was $225.12 in the second quarter and $221.46 year-to-date, representing an increase of 2.7% and 14.9%, respectively, compared to the same periods in 2022.
- Comparable hotel EBITDA was $449 million and Adjusted EBITDAre was $446 million for the second quarter.
- Comparable hotel RevPAR for July is estimated to be $209, a 2.5% improvement over 2022.
- Outlook: Based on performance in the first half of the year and the macroeconomic backdrop for the second half, the Company tightened its full year comparable hotel RevPAR guidance range to 7.0% to 9.0% growth over 2022, bringing the midpoint of its full year expected RevPAR growth to 8%. At the midpoint of guidance, the Company’s full year 2023 expected RevPAR is forecast to be 5.6% above 2019.
In the second half of the year, the Company expects year-over-year comparable hotel RevPAR percentage changes to be up low-single digits at the midpoint of guidance.
- Total revenues under GAAP of $5,246M to $5,338M vs. consensus of $5.34B.
Recommended For You
More Trending News
See More »