Host Hotels records rise in Q3 revenues

13th October 2011 (Last Updated October 13th, 2011 18:30)

Real estate investment trust Host Hotels & Resorts reported a 15% increase in owned hotel revenues to $1.085bn for the third quarter of 2011.

Real estate investment trust Host Hotels & Resorts reported a 15% increase in owned hotel revenues to $1.085bn for the third quarter of 2011.

Hotel revenues for the year-to-date also rose by 12% to $3.166bn.

Total revenues for both the third quarter and the year-to-date 2011 increased by 14% to $1.142bn and $3.340bn, respectively.

Net loss for the quarter stood at $35m compared with a net loss of $61m for the same period last year, while the year-to-date net loss stood at $32m compared with a net loss of $126m for the year-to-date 2010.

Adjusted earnings before interest, taxes, depreciation and amortisation increased by 27.7% to $212m for the quarter and by 23.2% to $669m for the year-to-date.

Comparable revenue per available room increased by 6.4% for the quarter and by 6.3% for the year-to-date.