(Aug. 06, 2009) Strategic Hotels misses estimates, sees local revenue fall, quote:
A closely watched measure of REIT financial performance, FFO is net income excluding gains or losses from property sales, plus depreciation and amortization.
(May 1, 2004) Table Is Set for New Round of Hotel IPOs, quote:
Historically, stocks in the sector traded at price/FFO multiples between 4 and 11, with the average being 7, says David Bulger, CFO of Innkeepers USA Trust. Now, many stocks are trading at 12 times FFO.
LaSalle Hotel Properties (NYSE:LHO) audio archives (webcast at its investor relations page)
LaSalle is proably Strategic Hotels and Resorts (NYSE:BEE) closest comparison, with LaSalle using much less financial leverage (debt), and more urban and convention hotels vs. BEE’s more resorts.