Host Hotels posts improved Q1 gains on strong group business

04/26/2012 | · Reuters

Growth of 5.5% in group revenue for the first quarter helped lift results for Host Hotels & Resorts, which broke even during the period and posted a 10% rise in revenue, to $985 million. The hotel real estate investment trust is anticipating further increases in demand for the year, particularly in the group segment. "Our outlook for 2012 is based on very strong demand trends. With new supply in our markets expected to be around 0.5% in 2012, lodging fundamentals will remain strong," said Host President and CEO Ed Walter.

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