Host Hotels & Resorts Publishes New, Expanded Corporate Responsibility Report

Rhea-AI Summary

BETHESDA, Md., Nov. 09, 2020 (GLOBE NEWSWIRE) -- Host Hotels & Resorts, Inc. (NASDAQ: HST) has released its 2020 Corporate Responsibility (CR) Report showcasing their dedication to environmental, social, and governance (ESG) initiatives. The report introduces new targets for social responsibility by 2025 and highlights achievements like a newly approved emissions reduction target and the issuance of the first green bond in the lodging industry. The company emphasizes its response to COVID-19, maintaining its commitment to sustainable investments amidst challenges.

Positive

• New 2025 social targets introduced alongside existing environmental targets.
• Achieved the lowest effective bond pricing in its history with the first green bond in lodging.
• ISO 14001-certified Environmental Management System for its consolidated portfolio.
• Corporate headquarters pursuing LEED Gold certification and Fitwel certification.
• Joined CEO Action for Diversity & Inclusion initiative.

Negative

• None.

BETHESDA, Md., Nov. 09, 2020 (GLOBE NEWSWIRE) -- Host Hotels & Resorts, Inc. (NASDAQ: HST), the nation’s largest lodging real estate investment trust (the “Company”), released its 2020 Corporate Responsibility (CR) Report, an expanded and interactive report that details the Company’s commitment to CR along with our strong results, performance and progress.

“Despite these challenging and uncertain times, we remain steadfast in our commitment to investing responsibly in Host’s most material environmental, social and governance priorities and delivering long-term value to our stakeholders,” said Joanne Hamilton, Executive Vice President of Human Resources and Corporate Responsibility. “We are proud to share our progress and the ways we are responding to critical issues around climate, health and wellness, inclusion and human rights in a more robust report this year.”

Now in its third edition, the 2020 CR Report features new and expanded sections including:

• Introduction of a refreshed CR strategic framework centered around the concept of responsible investment along with new Environmental Stewardship, Social Responsibility and Governance themes
• New 2025 social targets to complement our 2025 environmental targets
• Section on COVID-19 response and impact
• Stakeholder engagement table
• Expanded social section that includes diversity and inclusion, human rights and human capital
• Updated Global Reporting Initiative Index as well as new Task Force on Climate-Related Financial Disclosures Report and a full Sustainable Accounting Standards Board disclosure

Notable CR achievements highlighted within the 2020 CR Report include:

• New emissions reduction target approved by Science Based Targets initiative at the 1.5-degree Celsius level of ambition
• Issued first green bond in the lodging industry—achieving the lowest effective bond pricing in Host’s history
• ISO 14001-certified Environmental Management System for entire consolidated portfolio
• New corporate headquarters designed to and seeking LEED® Gold certification and certified as a Fitwel® Multi-Tenant Whole Building, a leading certification system committed to building health
• Joined CEO Action for Diversity & Inclusion initiative
• 200+ charities supported including 160 employee-selected community investments, 13 company-sponsored community service events and 600+ volunteer hours in 2019

To learn more, please read the 2020 Corporate Responsibility Report and view the updated 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 46,100 rooms. The Company also holds non-controlling interests in six domestic and one international joint ventures. Guided by a disciplined approach to capital allocation and aggressive asset management, the Company partners with premium brands such as Marriott®, Ritz-Carlton®, Westin®, Sheraton®, W®, St. Regis®, The Luxury Collection®, Hyatt®, Fairmont®, Hilton®, Swissôtel®, ibis® and Novotel®*, as well as independent brands. For additional information, please visit the Company’s website at www.hosthotels.com.

*   This press release contains registered trademarks that are the exclusive property of their respective owners. None of the owners of these trademarks has any responsibility or liability for any information contained in this press release.

SOURAV GHOSH
Chief Financial Officer
(240) 744-5267

TEJAL ENGMAN
Investor Relations
(240) 744-5116
ir@hosthotels.com

FAQ

What are the key highlights of Host Hotels & Resorts 2020 CR Report?

The key highlights include new 2025 social targets, new emissions reduction target, the first green bond issuance in lodging, and a focus on COVID-19 response.

What new initiatives does Host Hotels & Resorts mention in the 2020 CR Report?

The report mentions new targets for social responsibility and environmental stewardship, along with participation in diversity and inclusion initiatives.

How has Host Hotels & Resorts responded to COVID-19 in their 2020 CR Report?

The 2020 CR Report includes a section on COVID-19 response, detailing the company's measures and impacts.

What certification is Host Hotels & Resorts pursuing for their new headquarters?

The new headquarters is designed to seek LEED® Gold certification and is also certified as a Fitwel® Multi-Tenant Whole Building.