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Host Hotels and Resorts Inc Provides Updated FY 2012 Guidance Due To Effects Of Hurricane Sandy

Monday, 12 Nov 2012 07:00pm EST 

Host Hotels and Resorts Inc announced that based on preliminary information regarding the impact of Hurricane Sandy and assuming no insurance recovery this year, the Company is revising its fiscal 2012 guidance as follows: Comparable hotel RevPAR will increase 6.0% to 6.25%; Total revenues under GAAP would increase 6.8% to 7.2%; and Total comparable hotel revenues would increase 5.0% to 5.4%. Based upon these parameters, the Company estimates that its revised 2012 guidance is as follows: earnings per diluted share (EPS) should range from approximately $0.13 to $0.15; net income should range from $100 million to $113 million; NAREIT FFO per diluted share should be approximately $1.00 to $1.02; Adjusted FFO per diluted share should be approximately $1.05 to $1.07; and Adjusted EBITDA should be approximately $1,147 million to $1,160 million. The Company reported revenue of $4.998 billion in fiscal 2011. According to I/B/E/S Estimates, analysts on an average were expecting the Company to report revenue of $5.307 billion, EPS of $0.16, net income of $121 million, FFO of $1.08 and EBITDA of $1.159 billion for fiscal 2012. 

Company Quote

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