https://www.hosthotels.com/pressrelease?id=2396702Highlights
Total revenues improved 3.3% for the quarter, driven by the acquisitions of four premier hotels since March 2018. Also helping drive the improvement in revenues was a 30 basis point increase in comparable Total RevPAR to $274 for the quarter, which includes all hotel-level revenues per available room.
The Company increased its overall profitability, despite a comparable hotel RevPAR decline of 1.0% for the quarter on a constant dollar basis. The decline in RevPAR was primarily driven by the Marriott transformational capital program and the effect of the government shutdown.
Net income and earnings per share of $189 million and $0.25, respectively, were affected by a reduction in gains on sales of assets compared to the first quarter of 2018. However, the Company experienced strong growth in Adjusted EBITDAre of 9.7% to $406 million and Adjusted FFO per share of 11.6% to $0.48 per share.
