BETHESDA, MD— Lodging REIT Host Marriott Corp. posted results of operations for first quarter, showing diluted loss per share was $0.16 against $0.03 for first-quarter 2002, although total revenue was up at $805 million for the quarter versus $787 million in the year-ago period. Net loss available to common shareholders was $43 million compared to $8 million for the first quarter last year. Comparative funds from operations (FFO) was $0.16 per diluted share for the first quarter versus $0.24 in 2002. First-quarter EBITDA was $175 million against $204 million for first-quarter 2002. Comparable RevPAR for the first quarter declined 5.5% as a result of a 2.4% reduction in average room rate and an occupancy decline of 2.3 percentage points. Operating profit margin and comparable hotel-level EBITDA margin decreased 3.8 percentage points and 3.9 percentage points, respectively, the REIT reported. As of March 28, the company had $313 million in cash on hand and $300 million of availability under its credit facility. The companys updated guidance for RevPAR for full-year 2003 is for a decline of approximately 2% to 3% and a second quarter RevPAR decline of approximately 6% to 8%.
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