FelCor Reports Second Quarter 2017 Earnings
IRVING, TX--FelCor Lodging Trust Incorporated (NYSE: FCH) today reported results for the second quarter ended June 30, 2017.
Second Quarter Highlights
• Same-store RevPAR was $161.98 compared to $163.62 for the same period in 2016.
• Net loss attributable to FelCor common stockholders was $8.0 million, or $0.06 per share, versus net income of $7.1 million, or $0.05 per share, for the same period in 2016.
• Adjusted FFO per share was $0.26 versus $0.32 for the same period in 2016.
• Same-store Adjusted EBITDA was $65.0 million versus $67.9 million for the same period in 2016.
“We are pleased to have completed the sale of Morgans New York and The Royalton,” said Steven R. Goldman, FelCor’s Chief Executive Officer. “Regarding our merger with RLJ, we are excited by the opportunity to participate in creating a leading lodging REIT with a greater reach in key markets, streamlined operating structure and improved cost of capital. Our team is working diligently with RLJ to effect a timely close and efficient transition.”
Second Quarter Hotel Results

       Second Quarter 
      2017              2016           Change 
Same-store hotels (36)          
RevPAR    $  161.98     $  163.62     (1.0  )% 
Total hotel revenue, in millions    $  211.9     $  212.7     (0.4  )% 
Hotel EBITDA, in millions    $  69.2     $  72.3     (4.3  )% 
Hotel EBITDA margin     32.7  %     34.0  %    (135) bps 
               
RevPAR for our 36 same-store hotels was $161.98 compared to $163.62 for the same period in 2016. The change reflects a 0.4% increase in occupancy (to 83.2%) offset by a 1.4% reduction in average daily rate, or ADR, (to $194.81). Hotel EBITDA for our 36 same-store hotels was $69.2 million compared to $72.3 million, and Hotel EBITDA margin was 32.7% compared to 34.0% in the prior year quarter. RevPAR was particularly affected by weakness at hotels in San Francisco, which constitute 17% of our available rooms. Excluding this market, RevPAR growth would have been 0.5% and margins would have been 34.0%.
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FelCor Lodging Trust Incorporated