Hospitality Properties Trust (NYSE: HPT) today announced its financial results for the quarter ended March 31, 2014.
|($s in thousands, except per share data)|
|Net income available for common shareholders||$||32,384||$||19,409|
|Net income available for common shareholders per share||$||0.22||$||0.15|
|Normalized FFO (1)||$||112,671||$||93,202|
|Normalized FFO per share||$||0.75||$||0.74|
|Adjusted EBITDA (1)||$||154,951||$||137,477|
|Adjusted EBITDA growth||12.7%||--|
Hotel Portfolio Performance
|Comparable RevPAR growth||10.1%||--|
|Comparable RevPAR (excluding hotels under renovation)||$||78.85||$||70.68|
|Comparable RevPAR growth (excluding hotels under renovation)||11.6%||--|
|Coverage of HPT's minimum returns and rents (all hotels)||0.74x||0.70x|
(1) Reconciliations of net income available for common shareholders determined in accordance with U.S. generally accepted accounting principles, or GAAP, to funds from operations, or FFO, Normalized FFO, earnings before interest, taxes, depreciation and amortization, or EBITDA, and Adjusted EBITDA appear later in this press release.