Strategic Hotels & Resorts Reports Second Quarter Results

Strategic Hotels & Resorts BEE today reported results for the second quarter ended June 30, 2010. Comparable funds from operations was $0.02 per diluted share compared with a loss of $0.03 per diluted share in the prior year. Comparable EBITDA was $35.1 million compared with $33.6 million in the prior year period, an increase of 4.6 percent. North American total revenue per available room increased 5.9 percent and revenue per available room increased 7.3 percent, driven by a 2.7 percentage point increase in occupancy and a 3.3 percent increase in average daily rate (ADR), compared to the second quarter 2009. In addition, non-rooms revenue increased by 4.5 percent between periods.