2Q good for Orient-Express, losses for REITS

The second quarter proved a boon for Orient-Express but left the REITs Pebblebrook and FelCor at a loss.

Orient-Express Hotels Ltd., Hamilton, Bermuda, saw its second quarter revenue shoot up 23% to US$177.4 million from the same period last year, while same-store revenue was up 20% in U.S. dollars.

“Orient-Express performed well in the second quarter, reflecting continued positive momentum in the luxury leisure travel market and the solid performance of our iconic properties as well as our train, cruise and other assets,” said Bob Lovejoy, chairman and interim CEO at Orient-Express.

The full report can be read here.

The second quarter was rockier for Pebblebrook Hotel Trust, Bethesda, Maryland, who earlier this week closed a US$153 million deal to purchase six upscale hotels in New York City. While revenue increased, the company still posted –US$1.8 million, albeit an improvement from the –US$3.8 million posted during the same period in 2010.

The full report can be read here.

Likewise FelCor Lodging Trust, Irving, Texas, saw an upswing in RevPAR in the second quarter with a 6.2% increase from the same period in 2010. However, the company still posted –US$42 million for the quarter.

“RevPAR growth continued to accelerate, but slower than expected,” said Richard Smith, FelCor president and CEO. “Our aggressive asset management philosophy continues to show positive results.”

However, the company says it anticipates a total loss of US$115 million to US$121 million for 2011.

The full report can be read here.