Host Reports Q4 Revenue Fall

18th February 2010 (Last Updated February 18th, 2010 18:30)

Host Hotels & Resorts has reported a fall of 16.8% in revenue to $1.3bn in the fourth quarter of 2009 in comparison with the same period in 2008. The company has revealed the results for the fourth quarter and for the full year ended 31 December 2009. Total revenue

Host Hotels & Resorts has reported a fall of 16.8% in revenue to $1.3bn in the fourth quarter of 2009 in comparison with the same period in 2008.

The company has revealed the results for the fourth quarter and for the full year ended 31 December 2009.

Total revenue also decreased by 19.1% to $4.2bn for the full year 2009 compared with 2008.

The company posted a net loss of $72m compared with a net income of $111m for the fourth quarter and a net loss of $258m compared with a net income of $414m for the full year.

Adjusted EBITDA stood at $229m for the fourth quarter and $798m for full year.

Comparable hotel RevPAR decreased 14.6% and 19.9% for the fourth quarter and full year 2009, respectively, compared with 2008, the company said.

Host Hotels & Resorts owns 110 luxury and upper upscale hotels across the world.