LaSalle records rise in Q3 revPAR

23rd October 2011 (Last Updated October 23rd, 2011 18:30)

LaSalle Hotel Properties reported a 6.4% increase in revenue per available room (revPAR) for the third quarter of 2011.

LaSalle Hotel Properties reported a 6.4% increase in revenue per available room (revPAR) for the third quarter of 2011.

The company’s average daily rate (ADR) for the quarter increased by 5% and occupancy rose by 1.4% to stand at 83.8%.

For the first nine months of 2011, ADR increased by 5.1% and occupancy rose by 1.4%.

The earnings before interest, taxes, depreciation and amortisation (EBITDA) margin for the quarter stood at 33.6% and adjusted EBITDA increased by 25.5% to $62.8m over the third quarter of 2010.

The EBITDA margin for the first nine months of 2011 increased by 30.9% compared with the same period last year.