Strategic Hotels & Resorts Q1 Results Top Estimates; Boosts FY15 Outlook

(RTTNews) - Strategic Hotels & Resorts, Inc. (BEE) reported net income for the first quarter of $15.8 million or $0.04 per share, compared with $217.2 million or $0.97 per share for the year-ago quarter.

Comparable funds from operations for the first quarter was $56.3 million or $0.20 per share, compared with $12.2 million or $0.06 per share in the prior year quarter.

Total revenues for the first quarter rose 67.1% to $325.27 million from $194.66 million a year ago.

Analysts polled by Thomson Reuters expected the company to report FFO of $0.10 per share on revenue of $285.05 million for the first quarter.

The company raised its 2015 compparble FFO guidance to a range of $0.85 to $0.93 per share from its prior guidance of $0.77 to $0.85 per share. Analysts currently expect the company to earn $0.83 per share for the full year 2015.