RLJ Lodging Trust reports second quarter 2015 net income of $560 million compared to $52.9 million for the comparable period in 2014.

Highlights

  • Pro forma RevPAR increased 5.0%, Pro forma ADR increased 6.4%, and Pro forma Occupancy decreased 1.3%
  • Pro forma RevPAR increased 8.6% excluding New York and Houston
  • Pro forma Hotel EBITDA Margin increased 32 bps to 39.3%; 135 bps excluding New York and Houston
  • Pro forma Consolidated Hotel EBITDA increased 7.6% to $116.5 million
  • Adjusted FFO increased 4.7% to $98.1 million
  • Repurchased 2.0 million shares for $59.8 million
  • Acquired two hotels for $105.9 million subsequent to quarter end

To view full second quarter financial results please visit:

http://investor.rljlodgingtrust.com/phoenix.zhtml?c=243028&p=irol-irhome

Strategic Hotels & Resorts reports second quarter 2015 net income of $6.7 million compared with $80.8 million in the second quarter of 2014.

Second Quarter Highlights

  • Total consolidated revenues were $356.9 million in the second quarter of 2015, a 29.2 percent increase over the prior year period. The increase was primarily driven by the acquisitions of the Four Seasons Resort Scottsdale at Troon North, the Montage Laguna Beach resort and the Four Seasons Hotel Austin, as well as the consolidation of the Hotel del Coronado.
  • Net income attributable to common shareholders was $6.7 million, or $0.02 per diluted share, in the second quarter of 2015, compared with $80.8 million, or $0.35 per diluted share, in the second quarter of 2014. The year-over-year decrease in net income was primarily the result of a one-time gain related to the acquisition and consolidation of the Hotel del Coronado recorded in the second quarter of 2014.
  • Comparable FFO was $0.25 per diluted share in the second quarter of 2015, compared with $0.21 per diluted share in the prior year period, a 19.0 percent increase over the prior year period.
  • Comparable EBITDA was $88.4 million in the second quarter of 2015, compared with $68.9 million in the prior year period, a 28.3 percent increase between periods as a result of the Company’s acquisition activity and same store growth.
  • Same Store United States portfolio RevPAR increased 4.8 percent in the second quarter of 2015, driven by a 5.9 percent increase in ADR offsetting a 0.9 percentage point decline in occupancy compared to the second quarter of 2014. Total RevPAR increased 2.1 percent between periods, with non-rooms revenue decreasing 0.7 percent between periods.
  • Total United States portfolio RevPAR increased 4.3 percent in the second quarter of 2015, driven by a 5.9 percent increase in ADR offsetting a 1.2 percentage point decline in occupancy compared to the second quarter of 2014. Total RevPAR increased 1.9 percent between periods, with non-rooms revenue decreasing 0.5 percent between periods.
  • Group occupied room nights in the Total United States portfolio decreased 0.9 percent in the second quarter 2015 and transient occupied room nights decreased 1.8 percent compared to the second quarter of 2014. Transient ADR increased 6.8 percent compared to the second quarter of 2014 and group ADR increased 4.7 percent.
  • Same Store United States and Total United States portfolio EBITDA margins were flat in the second quarter of 2015, compared to the second quarter of 2014. Excluding a one-time real estate tax credit received in the second quarter of 2014 and one-time charges related to real estate and personal property taxes recognized in the second quarter of 2015, EBITDA margins expanded 40 basis points in the Same Store and Total United States portfolios. EBITDA margins in both years have been adjusted to exclude the amortization of the below market hotel management agreement related to the Hotel del Coronado, and other adjustments related to the adoption of the USALI Eleventh Revised Edition to improve comparability between years.

To view full second quarter financial results please visit:

http://ir.strategichotels.com/phoenix.zhtml?c=176522&p=irol-newsArticle&ID=2076170