Host Hotels & Resorts Publishes 2024 Corporate Responsibility Report

Rhea-AI Summary

Host Hotels & Resorts, Inc. (NASDAQ: HST), the largest lodging REIT in the U.S., has released its 2024 Corporate Responsibility Report. The report outlines the company's progress towards its 2030 environmental and social targets, aiming for a net positive impact by 2050. Key highlights include:

- Nearly $5 billion in sustainable financing, including $2.45 billion in green bonds
- Over 700 sustainability projects with $23 million expected annual utility savings
- 18 LEED-certified properties and 14 with on-site solar energy systems
- Support for over 200 charities and seven volunteer events
- 46% women in management positions and 33% of promotions from diverse groups
- 98% of employees trained on diversity topics

The report also includes TCFD and SASB indices, and an EEO-1 Report detailing workforce demographics.

Positive

• Nearly $5 billion in sustainable financing, including $2.45 billion in green bonds
• Over 700 sustainability projects with $23 million expected annual utility savings and 13-20% average cash-on-cash returns
• 18 LEED-certified properties and 14 with on-site solar energy systems
• 46% of women in management positions and 60% of promotions represented by women
• 88% of employees highly engaged according to recent survey

Negative

• None.

BETHESDA, Md., July 30, 2024 (GLOBE NEWSWIRE) -- Host Hotels & Resorts, Inc. (NASDAQ: HST) (the “Company”), the nation’s largest lodging real estate investment trust (“REIT”), released its 2024 Corporate Responsibility (CR) Report, which details the Company’s CR program and strategy along with its environmental, social and governance initiatives and industry-leading accomplishments. Additionally, the 2024 CR Report provides an update on the Company’s performance and progress toward its 2030 environmental and social targets, which are mapped to the Company’s aspirational vision of becoming net positive by 2050.

“We are proud of our CR program accomplishments as we continue to raise the bar and take measurable, meaningful steps toward achieving our 2050 net positive vision,” said Mike Lentz, executive vice president, development, design & construction and executive sponsor of the CR program. “Being a sustainability leader means investing responsibly in our business, environment, people and communities while being thoughtful and intentional every step of the way. This mindset applies to everything we do—including our initiatives around resilience, decarbonization and conservation; our investments in talent; and our efforts to promote inclusion across our value chain while creating economic opportunity within local communities. Together with our dedicated team and partners, we continue to identify compelling strategic investments that deliver strong financial, environmental and social returns. We are committed to protecting and enhancing not only the assets we own, but also the destinations where our hotels and resorts are located.”

Now in its seventh edition, the 2024 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 milestones highlighted in the report include:

SUSTAINABILITY INVESTMENTS

• Nearly $5 billion aggregate total of sustainable financing including $2.45 billion total issuance of green bonds for eligible green projects
• Over 700 sustainability projects with $23 million expected utility savings annually and 13-20% average cash-on-cash returns over a five-year period
• 18 properties with LEED^® certification—including four hotels with LEED Gold certification as well as Host’s corporate headquarters—and 18 additional projects in the pipeline
• 14 properties with on-site solar energy systems installed or under development

COMMUNITY INVESTMENTS

• Over 200 charities supported to advance priority sustainable development goals, including 126 organizations selected by employees
• Seven volunteer events supporting affordable housing, food security and sustainability, wildlife conservation and underserved and at-risk local communities

PEOPLE INVESTMENTS

• 88% of employees highly engaged according to most recent employee engagement survey
• 46% of women in management positions, 60% of promotions represented by women and 33% of promotions from diverse groups
• 98% of employees trained on diversity topics and hosted several educational and celebratory diversity, equity, inclusion and belonging events and initiatives

To learn more, please read the 2024 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 74 properties in the United States and five properties internationally totaling approximately 42,700 rooms. The Company also holds non-controlling interests in seven domestic and one international joint ventures.

SOURAV GHOSH Chief Financial Officer (240) 744-5267

JAIME MARCUS Investor Relations (240) 744-5117 ir@hosthotels.com

FAQ

What are Host Hotels & Resorts' (HST) 2030 environmental and social targets?

The report mentions that Host Hotels & Resorts has set 2030 environmental and social targets as part of their journey towards becoming net positive by 2050. However, specific details of these targets are not provided in the given press release.

How much has Host Hotels & Resorts (HST) invested in sustainable financing as of 2024?

According to the 2024 Corporate Responsibility Report, Host Hotels & Resorts has invested nearly $5 billion in aggregate total sustainable financing, including $2.45 billion in total issuance of green bonds for eligible green projects.

What percentage of Host Hotels & Resorts' (HST) management positions are held by women in 2024?

As reported in the 2024 Corporate Responsibility Report, 46% of management positions at Host Hotels & Resorts are held by women.

How many LEED-certified properties does Host Hotels & Resorts (HST) have in 2024?

According to the 2024 Corporate Responsibility Report, Host Hotels & Resorts has 18 properties with LEED certification, including four hotels with LEED Gold certification, and 18 additional projects in the pipeline.