Pebblebrook Hotel Trust reported second quarter 2015 net income of $20 million compared to $16.6 million the year ago quarter. Same-Property EBITDA Increased 10.6 Percent; Same-Property RevPAR Increased 3.8 Percent; Adjusted EBITDA Rose 39.0 Percent; Adjusted FFO Per Diluted Share Climbed 28.6 Percent.
To view full second quarter financial results please visit:
http://investor.pebblebrookhotels.com/file.aspx?IID=4243454&FID=30391552
Wyndham Worldwide Corporation reports second quarter 2015 net income of $159 million compared to $153 million for the year-ago quarter ending June 30, 2014.
Second Quarter Highlights:
•Second quarter adjusted diluted earnings per share (EPS) was $1.32, an increase of 13% from adjusted diluted EPS of $1.17 in the second quarter of 2014. Reported diluted EPS was $1.33 in the second quarter of 2015, an increase of 11% from reported diluted EPS of $1.20 from the same period in 2014.
•Revenues increased 4% compared with the second quarter of 2014. In constant currency, revenues increased 8%.
•Adjusted EBITDA increased 2% compared with the second quarter of 2014. In constant currency, adjusted EBITDA increased 6%.
•The Company repurchased 1.9 million shares of its common stock during the quarter for $165 million.
To view full second quarter financial results please visit:
FelCor Lodging Trust reports second quarter 2015 net loss of $17.3 million compared to a net income of $14.6 million for the same period in 2014. Net loss for the second quarter 2015 included $30.8 million in debt extinguishment charges, offset by a $7.1 million gain on sale of an unconsolidated joint venture. Net income in 2014 included $15.6 million of net gain on the sale of consolidated hotels.
Second Quarter Highlights
• Same-store RevPAR increased 7.3% over the same period in 2014. RevPAR increased 9.4% in June.
• Adjusted FFO per share increased to $0.28.
• Adjusted EBITDA was $69.7 million and same-store Adjusted EBITDA increased by $7.2 million, or 11.9%, to $67.7 million compared to the same period in 2014.
• Net loss per share was $0.12.
• Issued 18.4 million shares of common stock at $11.25 per share for aggregate net proceeds of $198.7 million.
• Redeemed all $170 million of our 8.0% Series C Cumulative Preferred Stock.
• Issued $475 million of 6.0% senior unsecured notes due 2025, and redeemed all $525 million of 6.75% senior secured notes due 2019.
• Repaid $189 million of mortgage debt and increased unencumbered hotels to 19.
• Sold three hotels for aggregate gross proceeds of $90 million in the quarter and another hotel for $14 million in July. Agreed to sell the remaining non-strategic hotel, which is expected to close in the third quarter.
• Amended the line of credit to expand its borrowing capacity from $225 million to $400 million, extended the final maturity to 2020 and lowered the effective interest rate by 62.5 basis points.
To view full second quarter financial results please visit:
http://phx.corporate-ir.net/phoenix.zhtml?c=118512&p=irol-newsArticle&ID=2071654
