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Host Hotels posts strong 4Q, year
Spurred by favorable room and occupancy rates, Bethesda-based Host Hotels & Resorts Inc., which describes itself as the nation’s largest lodging real estate investment trust, announced strong operating results Wednesday for the fourth quarter of 2013 and the year as a whole.
For the quarter ended Dec. 31, 2013, diluted earnings per share were 16 cents, compared with a loss of 4 cents for the corresponding quarter of 2012.
For the year as a whole, earnings were 42 cents compare with 8 cents.
The company attributed its improved results to strong growth in revenue spurred by higher room rates and occupancy rates. The company said revenue at comparable hotels was up 6 percent for the quarter and 4.9 percent for the full year.
The results reflect adjustments that resulted from a switch in 2013 to calendar quarter reporting periods compared with fiscal quarters that carried over from Marriott International, the company from which Host split off 20 years ago.
