Host Hotels & Resorts Publishes 2023 Corporate Responsibility Report
- $2.5 billion sustainability-linked credit facility refinancing
- 620 completed sustainability projects worth $135 million
- 11 LEED-certified properties and 22 LEED projects in the pipeline
- Signatory to AHLA's Responsible Stay initiative
- Founding donor of Nareit Foundation's DDEI Giving Campaign
- Fulfillment of $500,000 pledge to support hospitality fund
- None.
Next Generation 2030 Environmental and Social Targets Introduced
BETHESDA, Md., Sept. 11, 2023 (GLOBE NEWSWIRE) -- Host Hotels & Resorts, Inc. (NASDAQ: HST) (the “Company”), the nation’s largest lodging real estate investment trust, released its 2023 Corporate Responsibility (CR) Report, which details the Company’s CR program and responsible investment strategy along with its environmental, social and governance (ESG) initiatives, performance, progress and industry-leading accomplishments. Additionally, the 2023 CR Report introduces the next generation environmental and social performance targets for 2030 that will serve as an interim step to achieving the Company’s aspirational vision of becoming net positive by 2050.
“We are proud of our CR program accomplishments this past year as we continued to advance our social and employee-related initiatives and further solidified our position as an industry leader in environmental sustainability,” said Mike Lentz, executive vice president, development, design & construction and executive sponsor of the CR program. “As we transform our 2025 environmental and social targets into business as usual, we are looking forward to focusing our ESG efforts and investments toward achieving our new 2030 goals and targets, which are centered around the most impactful areas of our business and reflect the broader reach and influence of our CR program. This next generation of targets will enable us to take even more ambitious steps toward achieving our 2050 vision, while continuing to make a positive impact and create lasting value for our stockholders through investing responsibly in our business, our environment, our people and our communities.”
Now in its sixth edition, the 2023 CR Report also features Task Force on Climate-Related Financial Disclosures (TCFD) and Sustainability Accounting Standards Board (SASB) indices as well as an Equal Employment Opportunity (EEO-1) Report, which provides a demographic breakdown of our workforce.
Notable ESG achievements highlighted within the Report include:
$2.5 billion sustainability-linked credit facility refinancing, maintaining pricing with specific sustainability targets to increase the number of hotels with green building certifications and renewable energy usage- 620 completed sustainability projects over the past five years representing
$135 million in investments, generating 15-20% average cash-on-cash returns - 11 LEED®-certified properties (including three LEED Gold EBOM hotels as well as Host's corporate headquarters), with 22 LEED projects in the pipeline across 20 properties, supporting our sustainable financing strategy
- Signatory to AHLA’s Responsible Stay initiative, furthering Host’s commitment to sustainability and environmental responsibility at our hotels
- Founding donor of Nareit Foundation’s Dividends Through Diversity, Equity & Inclusion (DDEI) Giving Campaign, demonstrating the collective commitment to advancing DEI while compounding our individual impact
- Holistic diversity, equity, inclusion and belonging (DEIB) strategy, with several educational and celebratory DEIB events and new initiatives that support Host’s female workforce and further our commitment to providing opportunities for women
- Fulfillment of a
$500,000 pledge in support of the Arne M. Sorenson Hospitality Fund and the Marriott-Sorenson Center for Hospitality Leadership at Howard University - Nearly 200 charities supported, including 117 employee-selected charities
- Thoughtful board refreshment, with
33% of the Board of Directors comprised of women, and three of the last four independent Board members added identifying as either women or ethnically diverse
To learn more, please read the 2023 Corporate Responsibility Report and view the Corporate Responsibility pages on the Company website.
ABOUT HOST HOTELS & RESORTS
Host Hotels & Resorts, Inc. is an S&P 500 company and is the largest lodging real estate investment trust and one of the largest owners of luxury and upper-upscale hotels. The Company currently owns 72 properties in the United States and five properties internationally totaling approximately 41,900 rooms. The Company also holds non-controlling interests in seven domestic and one international joint ventures.
| SOURAV GHOSH | JAIME MARCUS |
| Chief Financial Officer | Investor Relations |
| (240) 744-5267 | (240) 744-5117 |
| ir@hosthotels.com |
