Company: HPP
Filing Date: 2025-05-08
Form Type: 10-Q
Source: 0001482512-25-000043
Chunk: 17

Company: Hudson Pacific Properties, Inc.
Filing Date: 2025-05-08
Form: 10-Q
Item: Part I, Item 2
Chunk 17
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 $(7,342)$85,201 $100,484 $3,483 $103,967 

48

The following table gives further detail on our change in NOI: 

Three Months Ended March 31, 2025 as compared to Three Months Ended March 31, 2024Same-StoreNon-Same-StoreTotalDollar ChangePercent ChangeDollar ChangePercent ChangeDollar ChangePercent ChangeRevenuesOfficeRental$(8,286)(5.4)%$(4,748)(25.9)%$(13,034)(7.6)%Service and other revenues3,256 93.7 (86)(49.4)3,170 86.9 Total office revenues(5,030)(3.2)(4,834)(26.1)(9,864)(5.6)StudioRental(394)(3.7)446 15.8 52 0.4 Service and other revenues(1,933)(22.6)(3,819)(22.7)(5,752)(22.7)Total studio revenues(2,327)(12.0)(3,373)(17.2)(5,700)(14.6)Total revenues(7,357)(4.2)(8,207)(21.5)(15,564)(7.3)Operating expensesOffice operating expenses1,183 1.9 (1,853)(20.3)(670)(0.9)Studio operating expenses(599)(5.2)4,471 17.5 3,872 10.4 Total operating expenses584 0.8 2,618 7.6 3,202 2.9 Office NOI(6,213)(6.7)(2,981)(31.8)(9,194)(9.0)Studio NOI(1,728)(22.3)(7,844)133.1 (9,572)(520.5)NOI$(7,941)(7.9)%$(10,825)(310.8)%$(18,766)(18.0)%

NOI decreased $18.8 million, or 18.0%, for the three months ended March 31, 2025 as compared to the three months ended March 31, 2024, primarily resulting from:

•a $10.8 million decrease in non-same-store NOI driven by:

•a decrease in