Global hotel chain Hilton Worldwide Holdings posted profit that was up 48% during their most recent quarter, but it lowered its outlook for earnings for the full year amidst a mediocre performance in one of its important industry metrics.

The company now sees its earnings for the full year between 87 cents and 91 cents per share, after it projected previously per share earnings of between 92 cents and 98 cents.

The company issued a downbeat outlook as well for earnings during its ongoing quarter, projecting adjusted profit a share of 21 cents to 23 cents. Analysts, on average were expecting 27 cents per share.

During the quarter, revenue system wide for the hotel per available room known as well as RevPAR, a key gauge for the industry for pricing power, increased 2.9%. Analysts were expecting that to be 3.4%.

Hilton expects its RevPAR to increase 2% to 4% during the ongoing period. For the Hilton owned hotels, RevPAR ticked up 0.2%, which the business said was a reflection of a weaker performance in Chicago and New York.

RevPAR at franchised and comparable managed hotels was up 2.5% and management as well as franchise fees increased 9%.

Earlier Hilton said that this year it is planning to spin off part of its hotels into an REIT or real estate investment trust, which has become popular amongst companies trying to slim down and release value in their holdings of real estate.

Analysts said that Hilton’s properties, which there are 70, representing just over half of the portfolio of the company owned or leased hotels, in their planned REIT, are possibly worth over $10 billion.

The company’s REIT is expected to be formed later in 2016. Hilton is also planning to separate the timeshare business it has, which is a move that follows steps taken by its rivals, thus turning Hilton into three different entities.

During the June ending quarter, Hilton’s earnings were $239 million equal to 24 cents per share in comparison to $161 million equal to 16 cents per share for the same period one year ago.

Excluding certain items, Hilton’s earnings were 25 cents per share.

Revenue was up 4.4% to end the quarter at $3.06 billion.

Analysts were expecting revenue of $3.06 billion.

Shares at Hilton have dropped almost 10% during the last 12 months and were inactive in premarket trading.

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