* Q1 FFO 8 cents/share vs 10 cts year earlier
* Revenue slumps 5 pct
* Net loss widens to 13 cents per share from 12 cents
NEW YORK, April 28 (BestGrowthStock) – Host Hotels & Resorts Inc
(HST.N: ), owner of more than 100 luxury and upscale hotels,
posted a bigger first-quarter net loss, while lifting its room
revenue outlook amid an improving economy.
The company, which owns Ritz-Carlton, Four Seasons and W
hotels, said its net loss for the quarter had widened to $84
million, or 13 cents per share, from $60 million, or 12 cents
per share, a year earlier.
Revenue fell 5 percent to $823 million, while revenue per
available room — an industry measure of profitability– fell
2.3 percent.
Host reported funds from operations of 8 cents per share,
down from 10 cents a year earlier.
FFO, a common performance measure for real estate
investment trusts, removes the profit-reducing effect of
depreciation, a noncash accounting item.
Stock Market Research Tools
(Reporting by Deepa Seetharaman; Editing by Lisa Von Ahn)
UPDATE 1-Host Hotels posts wider loss as revenue slumps
