(Automated translation by Reuters, please see disclaimer
Real estate investment firm Host Hotels & Resorts HST.O forecast Wednesday that its 2024 revenue would beat Wall Street estimates, anticipating a continued recovery in business travel demand.
U.S. travel companies have benefited from an increase in demand, primarily from small and medium-sized businesses.
Host Hotels & Resorts, which owns approximately 72 properties in the United States and five overseas, expects full-year 2024 revenue of between $5.59 billion and $5.74 billion, compared with expectations of $5.49 billion, according to LSEG data.
It expects 2024 adjusted funds from operations (FFO) to be between $1.92 and $2.04 per share. Analysts expected adjusted FFO of $1.94 per share.
The Bethesda, Maryland-based company reported adjusted FFO of 44 cents per share in the fourth quarter, matching analysts’ expectations.
Total quarterly revenue rose about 5% to $1.32 billion, above analysts’ expectations of $1.29 billion.
2024-02-22 00:07:15
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