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Hilton Reports Strong Second Quarter 2017 Results, Raises Full Year Outlook

Highlights include:

  • Diluted EPS from continuing operations for the second quarter was $0.51 and diluted EPS, adjusted for special items, was $0.52, an increase of 30 percent from the second quarter of 2016 on a pro forma basis 
     
  • Net income for the second quarter was $167 million 
     
  • Adjusted EBITDA for the second quarter was $519 million, an increase of 10 percent from pro forma Adjusted EBITDA for the second quarter of 2016 
     
  • Adjusted EBITDA margin was 57.0 percent, an increase of 340 basis points from pro forma Adjusted EBITDA margin for the second quarter of 2016 
     
  • System-wide comparable RevPAR increased 1.8 percent on a currency neutral basis for the second quarter compared to the prior year 
     
  • Added 13,400 net rooms in the second quarter, representing approximately 30 percent growth from the same period in 2016 
     
  • Approved 27,400 new rooms for development during the second quarter, growing Hilton's development pipeline to a record 332,000 rooms, representing 15 percent growth from June 30, 2016 
     
  • Repurchased 4.5 million shares of Hilton common stock for an aggregate cost of $282 million during the second quarter, and 6.8 million shares at an aggregate cost of $425 million since share repurchases began in March 2017 
     
  • Raised Adjusted EBITDA guidance for full year 2017 to between $1,880 million and $1,920 million, an increase of $20 million at the midpoint 
     
  • Raised cash available for capital return guidance for full year 2017 to between $1.0 billion and $1.1 billion, an increase of $100 million at the midpoint 

To view full quarterly results please visit:
http://newsroom.hilton.com/index.cfm/news/hilton-reports-second-quarter-results-raises-full-year-outlook

 

Wynn Resorts, Limited Reports Second Quarter 2017 Results

Highlights include:

Net revenues were $1.53 billion for the second quarter of 2017, an increase of 44.5%, or $470.9 million, from $1.06 billion for the same period of 2016. The increase was the result of $414.7 million from Wynn Palace, which opened in the third quarter of 2016, and increases of $43.4 million and $12.9 million from Wynn Macau and our Las Vegas Operations, respectively.

On a U.S. generally accepted accounting principles ("GAAP") basis, net income attributable to Wynn Resorts, Limited was $74.9 million, or $0.73 per diluted share, for the second quarter of 2017, an increase of 6.4%, or $4.5 million, from $70.4 million, or $0.69 per diluted share, for the same period of 2016. The increase in net income attributable to Wynn Resorts, Limited was primarily the result of income from Wynn Palace, partially offset by an increase in interest expense as the Company is no longer capitalizing interest on Wynn Palace, losses on extinguishment of debt and an increase in the Redemption Note fair value. Adjusted net income attributable to Wynn Resorts, Limited (1) was $120.9 million, or $1.18 per diluted share, for the second quarter of 2017, compared to $108.7 million, or $1.07 per diluted share, for the same period of 2016.

Adjusted Property EBITDA (2) was $430.0 million for the second quarter of 2017, an increase of 37.5%, or $117.3 million, from $312.7 million for the same period of 2016, primarily as a result of $87.4 million from Wynn Palace and increases of $20.0 million and $9.9 million from Wynn Macau and our Las Vegas Operations, respectively.

Wynn Resorts, Limited also announced today that the Company has approved a cash dividend of $0.50 per share, payable on August 22, 2017 to stockholders of record as of August 10, 2017. 

To view full quarterly results please visit:
http://phx.corporate-ir.net/phoenix.zhtml?c=132059&p=irol-newsArticle&ID=2288669​

 

Hersha Hospitality Trust Announces Second Quarter 2017 Results

Highlights include:

  • Q2 2017 Net Income of $74.0 Million, or $1.75 per Share 
     
  • Q2 2017 Comparable Portfolio RevPAR Growth of 1.0% 
     
  • Completes 24 Month Capital Recycling Campaign 
     
  • Adjusts 2017 EBITDA & ADJUSTED FFO Guidance 
     

To view full quarterly results please visit:
http://www.snl.com/irweblinkx/file.aspx?IID=4019891&FID=389595607​

 

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