Hospitality Properties Trust Q2 Net Income Declines - Quick Facts

(RTTNews) - Hospitality Properties Trust (HPT) reported second-quarter net income of $8.8 million, or $0.05 per share, compared to $97.3 million, or $0.59 per share, previous year. Net income for the quarter ended June 30, 2019 includes $60.8 million, or $0.37 per share, of unrealized losses on equity securities. Normalized FFO were $168.8 million, or $1.03 per share, compared to $176.2 million, or $1.07 per share, a year ago.

Second-quarter total revenues were $610.56 million compared to $611.95 million, last yer.

John Murray, CEO of HPT, said: "In the second quarter, comparable RevPAR declined 2.1% due in part to occupancy decreases from fourteen hotels under renovation. For hotels not impacted by renovations, comparable RevPAR declined by 0.3%."