Host Hotels and Resorts (NYSE:HST) posted a narrower fourth quarter loss today, of $6 million, or $0.01 per share, compared to a net loss of $72 million, or $0.12 per share, in the same quarter last year.
Revenue rose to $1.49 billion from $1.33 billion last year. Results met analyst estimates.
Host Hotels and Resorts operates hotel brands such as Marriott (NYSE:MAR), Hyatt (NYSE:H), and Starwood’s (NYSE:HOT) Sheraton.
Late yesterday, Marriott reported fourth quarter earnings and announced it plans to split its businesses into two separate public companies by spinning off its timeshare operations.
Marriott said the timeshare business will become an independent company through a tax-free dividend in late 2011, allowing both companies to tailor its business strategies to their market. Marriott International will concentrate on the lodging management and franchise business.
Marriott also announced fourth quarter earnings rose to $173 million, or $0.46 per share, from $106 million, or $0.28 per share, in the same quarter last year.
Adjusted earnings of $0.39 per share exceeded analyst estimates.
Total revenue was just about inline with analyst expectations, rising to $3.6 billion from $3.4 billion in last year’s fourth quarter.
Any ideas and opinions presented in all Market News Video clips are for informational and educational purposes
only, and do not reflect the opinions of BNK Invest, Inc. or any of its affiliates, subsidiaries or partners.
In no way should any content contained herein be interpreted to represent trading or investment advice.
None of the information contained herein constitutes a recommendation that any particular security, portfolio,
transaction, or investment strategy is suitable for any specific person. All viewers agree that under no
circumstances will BNK Invest, Inc,. its subsidiaries, partners, officers, employees, affiliates, or agents be held
liable for any loss or damage caused by your reliance on information obtained. Read Full Disclaimer.