Host Hotels & Resorts predicts recovery in key performance measure in 2010

Host Hotels & Resorts offers 2010 outlook

BETHESDA, Md. — Host Hotels & Resorts Inc. said Wednesday that it expects a key performance figure to continue to decline in 2010, however the falloff won’t be nearly as steep as it has been.

The real estate investment trust said revenue per available room will likely break even, or fall as much as 5 percent. That compares with a decline of almost 20 percent in the important measure during 2009.

Meanwhile, the hotel company said it also expects an annual loss between $207 million and $315 million, or 32 cents to 49 cents per share.

Funds from operations for the year is pegged at 41 cents to 57 cents per share. FFO, which adds items such as amortization and depreciation back to net income, is considered a key measure of REIT strength.

Analysts surveyed by Thomson Reuters expect an annual loss of 34 cents per share and FFO of 57 cents per share.

Also Wednesday Host Hotels said its 2009 net loss was $261 million, or 45 cents per share.