Host Hotels & Resorts has reported an 8.8% increase on the year in third quarter revpar.
The REIT saw average daily rate up by 4.5% and occupancy increase by 2.9 percentage points, with full-year revpar expected to rise by between 5.5% and 6.5%. Adjusted EBITDA was $163m, an increase of $24m. The news came as Host acquired the 245-room JW Marriott Hotel Rio de Janeiro for a total of $47.5m.
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