LaSalle Hotel Properties reports first quarter 2015 results.

First Quarter Results and Activities

  • RevPAR: Room revenue per available room (“RevPAR”) for the quarter ended March 31, 2015 increased 5.4 percent to $159.96, as a result of a 4.6 percent increase in average daily rate (“ADR”) to $216.30 and a 0.8 percent improvement in occupancy to 74.0 percent.
  • Hotel EBITDA Margin: The Company’s hotel EBITDA margin for the first quarter increased 245 basis points from the comparable prior year period to 25.2 percent, a first quarter record for the Company.
  • Adjusted EBITDA: The Company’s adjusted EBITDA was $57.2 million, an increase of 27.4 percent over the first quarter of 2014.
  • Adjusted FFO: The Company generated first quarter adjusted FFO of $45.3 million, or $0.40 per diluted share/unit, compared to $33.2 million, or $0.32 per diluted share/unit, for the comparable prior year period, a per share/unit increase of 25.0 percent.
  • Hotel Acquisitions: The Company invested $446.3 million to acquire two assets during the first quarter, including the following:

    • Park Central San Francisco in San Francisco, CA for $350.0 million on January 23; and
    • The Marker Waterfront Resort in Key West, FL for $96.3 million on March 16.
  • Capital Markets: The Company did not sell any shares under its ATM program during the first quarter or to date in the second quarter of 2015.
  • Capital Investments: The Company invested $26.8 million of capital in its hotels. The Company completed renovations at Sofitel Washington, DC, The Grafton on Sunset in West Hollywood, Hilton San Diego Gaslamp Quarter, Villa Florence in San Francisco, Hyatt Boston Harbor, Westin Philadelphia and most of the first phase of the rooms renovation at Westin Michigan Avenue. During the quarter, the Company created 18 new rooms, including 14 rooms in San Francisco and four rooms in San Diego, which is a significant value enhancement to those hotels. The average development cost per room was approximately $200,000, which is a considerable discount to replacement cost, particularly in high barrier to entry West Coast markets.

To view full first quarter financial results please visit: http://phx.corporate-ir.net/phoenix.zhtml?c=63030&p=irol-irhome

Las Vegas Sands Reports First Quarter 2015 Results:

Highlights Include:

– Net Revenue of $3.01 Billion

– Consolidated Adjusted Property EBITDA of $1.05 Billion

– Consolidated Adjusted Property EBITDA Margin of 34.9%

– Adjusted Property EBITDA at Marina Bay Sands in Singapore was $415.3 Million (Marina Bay Sands Adjusted Property EBITDA Increased 0.2% on a Constant-Currency Basis)

– Adjusted Earnings per Diluted Share was $0.66

– The Company Paid Dividends of $0.65 per Share, an Increase of 30.0%

To view full first quarter financial results please visit:

http://investor.sands.com/files/doc_news/2015/Q115-Earnings-Release-vFinal_v001_j9108a.pdf