Strategic Hotels & Resorts, Inc. (BEE) reported third quarter net income attributable to shareholders of $23.3 million, or $0.08 per share, compared to $21.0 million, or $0.07 per share, in the third quarter of 2014. Comparable FFO per share was $0.25, for the quarter.
Analysts polled by Thomson Reuters expected the company to report profit per share of $0.25 for the quarter. Analysts' estimates typically exclude special items.
Comparable EBITDA was $89.2 million, compared to $75.2 million in the prior year period, an 18.6 percent increase between periods as a result of the company's acquisition activity and same store growth.
Total consolidated revenues were $354.4 million in the third quarter of 2015, a 16.1 percent increase over the prior year period. The company said the increase was primarily driven by the acquisitions of the Four Seasons Resort Scottsdale at Troon North, the Montage Laguna Beach resort and the Four Seasons Hotel Austin. Analysts expected revenue of $350.73 million for the quarter.
The company has suspended the issuance of earnings guidance in light of the company entering into a definitive merger agreement with affiliates of Blackstone Real Estate Partners VIII L.P.
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