HIT expects FY 2015 REVPAR to grow by 5-7% and EBITDA of approximately $2.84-2.87 billion. o HIT FY 2016 guidance calls for REVPAR growth of 4-6%. o Management is committed to an IG rating & we continue to expect an upgrade to IG over the next 12 months. Recommendation(s): 6montnt T trn 63, 10/13/2021

ganic revenue growth is running 9%. Revenues in the 2008-09 period flat-lined, but did not drop, so it did well during the recession/credit crisis. o Management intends to keep Net Debt/EBITDA at 2 to 2.5X (EBITDA adds back transaction costs and the company regularly does add-on acquisitions). The company sa