Host Hotels & Resorts Sees Weak Earnings, Revenue In FY20

(RTTNews) - Lodging real estate investment trust Host Hotels & Resorts (HST), while reporting fourth-quarter earnings, said it expects fiscal 2020 net income to be in the range of $496 million to $539 million and earnings per share in the range of $0.69 to $0.75.

In fiscal 2019, net income was $932 million or $1.26 per share.

On average, 9 analysts polled by Thomson Reuters expect earnings of $0.75 per share. Analysts' estimates typically exclude special items.

NAREIT FFO per share is expected to be $1.65 to $1.71, compared to last year's $1.70 per share.

The company projects adjusted EBITDAre between $1.36 billion and $1.41 billion, compared to last year's $1.53 billion.

Total revenues under GAAP is expected to be down 3 percent to 4.6 percent from previous year's $5.47 billion.

For 2020, the company expects comparable hotel RevPAR at constant rates to be flat to up 1 percent.