Two Bethesda-headquartered real estate investment trusts focusing on hotels turned profits in unaudited second quarter results released this week, but one firm’s profit grew while the other’s shrank.
Host Hotels & Resorts Inc.’s net profit increased to $290 million, up from $211 million in last year’s second quarter. Adjusted EBITDAre was $460 million, down from 476 million in the previous quarter.
In the quarter, Host increased the capacity of its revolving credit and term loan facility from $2 billion to $2.5 billion.
RLJ Lodging Trust of Bethesda’s unaudited results had net profit of $33.7 million, down 30.7 million from the same period in 2018. Those figures included $32.4 million and $12 million from a hotels sold in the 2019 and 2018 second quarters, respectively.