Host Marriott Ends Year on Upswing

BETHESDA, MD-Host Marriott Corp.’s fourth quarter 2004 operations results show that the lodging REIT’s business is on the upswing. The final quarter of 2004 yielded a total revenue of nearly $1.2 million, a marked increase over fourth quarter 2003′s figure, which was just over $1 million.

On the whole, the year 2004 proved to be more successful than 2003 with a total revenue of about $3.6 million, compared to just under $3.3 million in 2003. More specific details highlight Host Marriott’s success during the last three months of 2004. Revenue per available room, or RevPAR, in the fourth quarter jumped by 8.6% from the fourth quarter of the previous year, and comparable hotel adjusted operating profit margins grew by two percentage points.