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) 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.
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.
Host Hotels & Resorts, the nation's largest lodging real estate investment trust, announced that its board of directors has authorized a regular quarterly cash dividend of $0.20 per share.
This dividend will be payable on July 15, 2024, to stockholders of record as of June 28, 2024.
The announcement underscores the company's ongoing commitment to returning value to its shareholders.
Host Hotels & Resorts (NASDAQ: HST), the largest lodging real estate investment trust in the US, will release its second quarter 2024 financial results on July 31, 2024, after market close. A conference call to discuss these results and the company’s business outlook will be held on August 1, 2024, at 10:00 a.m. ET. The call will be accessible via toll-free and international numbers, and a simultaneous webcast will be available on Host Hotels’ website. A replay of the call will be available until August 31, 2024, with extended access through the website until November 8, 2024. Host Hotels currently owns 74 properties in the US and five internationally, totaling approximately 42,700 rooms, and holds interests in eight joint ventures.
Host Hotels & Resorts announced an agreement to acquire Turtle Bay Resort in Oahu, Hawaii for $680 million. The deal includes a 49-acre land parcel and is expected to close by late July 2024. Turtle Bay Resort recently underwent a significant renovation and will be rebranded as The Ritz-Carlton. The acquisition is projected to yield a 16.3x EBITDA multiple and a 5.3% cap rate on 2024 estimates. Post-rebranding, the resort could be a top performer for Host, with expected RevPAR of $570 and EBITDA per key of $86,000. Host aims to stabilize EBITDA multiples between 10-12x by 2027-2029.
Host Hotels & Resorts, Inc. announced the pricing of $600 million of 5.700% Senior Notes due 2034, a Green Bond, by Host Hotels & Resorts, L.P. The Offering is expected to close on May 10, 2024, with estimated net proceeds of approximately $584 million. The proceeds will be used to finance eligible green projects and repay outstanding borrowings.
Host Hotels & Resorts, Inc. (NASDAQ: HST) has released an updated investor presentation for the first quarter of 2024, showcasing their results. As the largest lodging real estate investment trust in the nation, the company aims to provide transparency and insights to investors through this presentation.
Host Hotels & Resorts, Inc. has acquired the fee simple interest in a two-hotel complex in Nashville, comprising the 1 Hotel Nashville and Embassy Suites by Hilton Nashville Downtown, for approximately $530 million. The acquisition price represents a 12.6x EBITDA multiple and a cap rate of about 7.4% on the Property’s 2024 estimated results. The Property is expected to be among Host’s top-25 assets with projected RevPAR of $275, Total RevPAR of $435, and EBITDA per key of $58,550. The acquisition enhances the quality of Host's portfolio, providing significant growth potential and value creation for stockholders.
Host Hotels & Resorts, Inc. (NASDAQ: HST) reported Q1 2024 results with revenues of $1,471 million, net income of $272 million, and Adjusted EBITDAre of $483 million. The company acquired 1 Hotel Nashville and Embassy Suites by Hilton Nashville Downtown, maintaining strong balance sheet. Despite challenging comparisons, Host delivered growth in Total RevPAR, but saw a decline in comparable hotel RevPAR. The impact of Maui wildfires, unseasonable weather, and renovation delays affected RevPAR negatively. The company maintains a robust balance sheet, completes several transactions, and provides an outlook for 2024 with a focus on steady demand, gradual recovery, and improvement in group business.
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