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Host Hotels’ profit, RevPAR increase

Host Hotels & Resorts Inc., of Bethesda, a lodging real estate investment trust, reported a $159 million profit, or 21 cents per diluted share, for the quarter ended June 30, up from $121 million and 16 cents for the prior-year period. Funds from operations were $334 million, down from $342 million in the 2013 quarter. Revenue per available room, or RevPAR, increased by 5.3 percent over 2013. Host said the increase in net income for the second quarter primarily reflects improvement in operations and a decline in interest expense as a result of the refinancing or repayment of debt since the beginning of 2013.