Hospitality Properties Q2 Results Beat View - Quick Facts

(RTTNews) - Hospitality Properties Trust (HPT) Monday said second-quarter net income available for common shareholders climbed to $48.75 million from $37.26 million last year.

Earnings per share advanced to $0.33 from $0.27. Funds from Operations or FFO per share was $0.85, up from last year's $0.81.

Normalized FFO per share was $0.87, compared to $0.78 last year. On average, 7 analysts polled by Thomson Reuters expected earnings of $0.85 per share for the quarter. Analysts' estimates typically exclude special items.

Total revenues grew to $451.9 million from $412.32 million last year. Analysts expected revenues of $431.23 million.

John Murray, President and Chief Operating Officer, said, "Our Normalized FFO per share increased approximately 11.5% from the second quarter of 2013. Our hotel portfolio outperformed industry RevPAR for the seventh quarter in a row. I believe these results reflect the success of our extensive hotel renovation program."