Our business has improved dramatically over the last twelve months. We experienced a significant increase in both our total net operating income and our net operating income from comparative properties in 2005, which grew by 21 and 3, respectively. Our total funds from operations increased by 12 to 66.3 million. On a per unit basis, FFO increased by 4 from a year earlier. These improvements, together with numerous acquisitions completed and currently in our pipeline, have positioned us as a more competitive investment vehicle.
Quotes about ffo (3 Quotes)
The outlook for the hospitality industry for 2006 remains positive as demand growth continues and new supply remains limited. Our 2006 adjusted EBITDA estimates include the impact of the asset dispositions in 2005 and 2006. Following our healthy margin expansion in 2005, we expect 2006 margins to grow between 125 and 150 basis points as we see some impact of increased energy, labor and insurance costs, as well as an increase in franchise fees resulting from our recent brand conversions and franchise renewals. Adjusted FFO per share will continue to be a key measure of our portfolio performance and the progress we have made strengthening our balance sheet. Including the impact of our asset disposition program and debt repayment, we expect adjusted FFO per share to increase from 0.71 per share in 2005 to 0.88 to 0.92 per share in 2006 with first quarter adjusted FFO per share of 0.13 to 0.16.
It's yielding 6 percent, trading at 10 times FFO funds from operation, the standard measure of REIT cash flow, it's diversified and I think you'll see 5 percent to 10 percent annual growth in FFO.