Host Q4 RevPAR Increased 5.8%
Tuesday February 26th, 2013 - 7:17AM
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BETHESDA, MD– Host Hotels & Resorts fourth quarter 2012 RevPAR rose 5.8%, compared to the same period last year.
For full-year 2013, the company says that it anticipates RevPAR increasing 5% to 7%.
During the fourth quarter, the company completed upgrades on two properties that it recently acquired. The REIT completed the renovation of almost 750 guestrooms and opened a new concierge lounge in the Harbor Tower of the Manchester Grand Hyatt in San Diego and began a renovation of all 888 guestrooms of the Grand Hyatt in Washington.
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.