American Hotel Income Properties REIT reports Q1 results
May 05, 2023 1:47 AM ETAmerican Hotel Income Properties REIT LP (AHOTF), HOT.UN:CABy: Meghavi Singh, SA News Editor
- American Hotel Income Properties REIT press release (OTC:AHOTF): Q1 Revenue of $65.5M (+6.0% Y/Y).
- Diluted FFO per unit and normalized diluted FFO per unit were $0.11 and $0.07 for the first quarter of 2023, respectively, compared to $0.05 and $0.03 for the same period of 2022.
- RevPAR increased 13.3% to $85 for the first quarter of 2023, compared to $75 for the same period of 2022.
- ADR increased 12.8% to $132 for the first quarter of 2023, compared to $117 for the same period of 2022.
- Occupancy was 64.1% for the first quarter of 2023, an increase of 40 basis points compared to 63.7% for the same period of 2022.
- NOI increased 7.1% to $18.7 million for the first quarter of 2023, compared to $17.5 million for the same period of 2022.
- Debt to gross book value was 52.0% as of March 31, 2023, decreases of 60 bps and 210 bps, respectively, compared to 52.6% as of December 31, 2022, and 54.1% as of March 31, 2022.