Host Hotels Reports Q3 RevPAR Rose 7.6%
Thursday October 11th, 2012 - 12:19AM
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BETHESDA, MD–Third-quarter 2012 RevPAR for Host Hotels & Resorts, the nation's largest lodging REIT, increased 7.6%, compared to the same quarter in 2011.
In October, the company converted the former, 774-room New York Helmsley Hotel, which it acquired in early-2011, to the Westin New York Grand Central. In anticipation of the conversion, the company completed extensive renovations of the property.
Host owns 104 hotels in the United States and 16 internationally.
Tags: Hospitality Quarterly Results
The most recent NYU Conference, earlier this month proved, once and for all, that the lodging industry has finally turned the corner and happy days are, indeed, here again. While the economists and pundits all provided plenty of anecdotal evidence to bear that out in terms of supply and demand ratios, RevPAR projections, asset values and all the other metrics, that’s not what has me convinced.