Welcome to our dedicated page for Host Hotels & Resorts news (Ticker: HST), a resource for investors and traders seeking the latest updates and insights on Host Hotels & Resorts stock.
Host Hotels & Resorts, Inc. (HST) is an illustrious American real estate investment trust (REIT) primarily engaged in the ownership of luxury and upper-upscale hotels. As of now, the Company boasts a portfolio of 74 properties in the United States and five international properties, aggregating approximately 42,700 rooms. With a significant focus on urban and resort locations, Host's properties are strategically positioned to attract both leisure and business travelers.
Host Hotels & Resorts operates under well-renowned brands such as Marriott and Starwood, enhancing its brand visibility and customer loyalty. The Company also holds non-controlling interests in various joint ventures, including six domestic and one international, expanding its reach and diversification in the lodging sector.
Recent strategic moves include the divestment of its interests in joint ventures across Europe, Asia, and the United States. These maneuvers underscore Host's commitment to refining its portfolio and focusing on high-growth, high-revenue assets. Among its notable acquisitions are the 1 Hotel Nashville and Embassy Suites by Hilton Nashville Downtown, marking significant additions to its robust portfolio.
Host maintains a solid financial standing, supported by a well-balanced sheet and a track record of profitable transactions. The Company recently announced a conference call to discuss its fourth quarter 2023 results and business outlook, providing stakeholders with insights into its financial health and future strategies. The call is scheduled for February 22, 2024, at 10:00 a.m. ET, with a simultaneous webcast available on its website.
Significant events in Host's calendar include several quarterly results calls throughout 2024, reflecting its dedication to transparency and stakeholder engagement. The Company continues to enhance its properties through renovations and brand rebranding efforts, such as the transformative renovation of a resort, which will be flagged under The Ritz-Carlton brand post-acquisition.
Overall, Host Hotels & Resorts, Inc. stands as a pivotal player in the lodging industry, continually adapting to market dynamics and focusing on its strategic goals to maximize shareholder value.
Host Hotels & Resorts (NASDAQ: HST), the largest lodging real estate investment trust in the United States, has announced the availability of an updated investor presentation for third quarter 2024 results. The presentation can be accessed through the Investor Relations section of the company's website.
Host Hotels & Resorts (HST) reported Q3 2024 results with Total RevPAR growth of 3.1% to $328.86, driven by improvements in food and beverage revenues from group business. Revenue increased 8.6% to $1,319 million, while net income decreased 25.7% to $84 million. The company maintained its full-year guidance despite hurricane impacts in Florida. Notable events include the completion of $700 million Series L senior notes issuance at 5.5%, $57 million in stock repurchases, and the acquisitions of 1 Hotel Central Park and The Ritz-Carlton O'ahu for $265 million and $680 million respectively.
Jaws Mustang Acquisition (JWSM) has suspended its previously announced hospitality business combination plans. The company had entered into a non-binding letter of intent with Starwood Capital Group on March 8, 2024, regarding a portfolio of hotels including the 1 Hotel Central Park in Manhattan. However, Starwood Capital accepted an offer from Host Hotels & Resorts (HST) to purchase the 1 Hotel Central Park, with the acquisition completed on July 31, 2024. JWSM has been unable to identify suitable replacement hotel properties for the portfolio and has consequently suspended the business combination pursuit.
The National Association of Corporate Directors (NACD) has announced the honorees of the 2024 NACD Directorship 100™, recognizing leading corporate directors and governance experts. The awards include the B. Kenneth West Lifetime Achievement Award, given to Michael Daniels and Maggie Wilderotter for their notable achievements in board careers.
The Director of the Year recipients are:
- Public Company: Herman Bulls (Fluence Energy, USAA, JLL, and others)
- Private Company: Greg Cessna (Maclean Fogg, Hillandale, Henderson Brothers)
- Nonprofit: Hon. Robert A. McDonald (Elizabeth Dole Foundation, West Point Association of Graduates)
The honorees will be recognized at the 2024 NACD Directorship 100 Awards Gala on December 16 in New York City and featured in NACD Directorship® magazine.
Host Hotels & Resorts (NASDAQ: HST), the largest lodging real estate investment trust in the US, has announced its third quarter 2024 earnings call scheduled for November 7, 2024, at 10:00 a.m. ET. The company will release its financial results on November 6, 2024, after market close. Investors can access the conference call via USA/Canada Toll Free Number 888-500-3691 or International Toll Number 646-307-1951 using Conference ID 71987.
A simultaneous webcast will be available on the company's website, with a replay accessible until December 7, 2024. Host Hotels & Resorts owns 76 properties in the United States and five internationally, totaling approximately 43,400 rooms. The company also holds non-controlling interests in seven domestic and one international joint ventures.
Host Hotels & Resorts (NASDAQ: HST), the largest lodging real estate investment trust in the United States, has declared a quarterly cash dividend of $0.20 per share. This dividend will be paid on October 15, 2024, to shareholders recorded as of September 30, 2024. The announcement, made on September 12, 2024, demonstrates the company's commitment to providing regular returns to its stockholders.
Host Hotels & Resorts, Inc. (NASDAQ: HST) has announced the pricing of a $700 million offering of 5.500% Senior Notes due 2035 through its operating partnership, Host Hotels & Resorts, L.P. The offering is expected to close on August 12, 2024, with estimated net proceeds of $683 million. The company plans to use the proceeds to repay $525 million of outstanding borrowings under its revolver credit facility, including amounts used for recent hotel acquisitions, and for general corporate purposes. The offering is being made through a shelf registration statement and is managed by major financial institutions.
Host Hotels & Resorts, Inc. (NASDAQ: HST), the largest lodging real estate investment trust in the United States, has released an updated investor presentation for the second quarter of 2024. This presentation, which likely contains key financial results and performance metrics for the company's portfolio of hotels, is now available on the Investor Relations section of the company's official website. Investors and analysts can access this important information to gain insights into Host Hotels & Resorts' recent performance and potential future outlook in the hospitality real estate sector.
Host Hotels & Resorts (NASDAQ: HST) has made two significant acquisitions, enhancing its portfolio with luxury properties. The company acquired the 234-room 1 Hotel Central Park for $265 million, representing an 11.1x EBITDA multiple. This property is expected to be among Host's top-10 assets based on 2024 estimates, with projected RevPAR of $545 and EBITDA per key over $100,000.
Additionally, Host completed the acquisition of The Ritz-Carlton O'ahu, Turtle Bay, a 450-room resort in Hawaii, for approximately $680 million. This acquisition includes a 49-acre land parcel for future development. The deal represents a 16.3x EBITDA multiple based on 2024 estimates, with potential for improvement as the property stabilizes.
These acquisitions total $1.5 billion in 2024, with a blended 13.6x EBITDA multiple, bringing Host closer to its target of $3 billion in acquisitions outlined at its investor day.
Host Hotels & Resorts (NASDAQ: HST) reported Q2 2024 results with revenues of $1,466 million, up 5.2% year-over-year. Net income increased 13.1% to $242 million, while Adjusted EBITDAre rose 6.7% to $476 million. Comparable hotel Total RevPAR grew 0.5% to $368.25, driven by group business improvements. The company acquired 1 Hotel Central Park for $265 million and anticipates closing on The Ritz-Carlton O'ahu, Turtle Bay for $680 million. Host reduced its full-year 2024 guidance due to slower recovery in Maui and moderating leisure demand. The company now expects comparable hotel RevPAR between -1.0% to 1.0% growth and Adjusted EBITDAre of $1,615 to $1,675 million for 2024.
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