Host Hotels & Resorts - Company Market Research Report

Company Overview

• Name: Host Hotels & Resorts, Inc.

• Mission: To generate superior long-term, risk-adjusted returns for stockholders through owning a diversified portfolio of iconic and irreplaceable hotels in the top U.S. hotel markets, leveraging strong scale and integrated platform to create value, and maintaining a strong and flexible capital structure.

• Founded: No information is available.

• Founded By: No information is available.

• Key People:

• James F. Risoleo - President and Chief Executive Officer

• Sourav Ghosh - Chief Financial Officer

• Jaime Marcus - Investor Relations

• Headquarters: 4747 Bethesda Avenue, Suite 1300, Bethesda, MD 20814

• Number of Employees: No information is available.

• Revenue: $1,466 million for the second quarter of 2024 and $2,937 million year-to-date.

• Known For: The largest publicly traded lodging REIT with a geographically diverse portfolio of luxury and upper upscale hotels across the United States.

Products

• Portfolio Overview:

• Hotels: 81

• Rooms: 43,400

• Top U.S. Markets: 21

Key Products and High-Level Description:

• Fairmont Kea Lani, Maui:

• Type: All-suite and villa luxury resort.

• Key Features: A transformed experience with premium accommodations.

• 1 Hotel Nashville:

• Type: Hotel.

• Key Features: One of the company's recent acquisitions.

• Embassy Suites by Hilton Nashville Downtown:

• Type: Hotel.

• Key Features: Another recent acquisition.

• New York Marriott Marquis:

• Type: Featured property.

• Key Features: Premium location in New York City.

• Other Notable Properties:

• The Ritz-Carlton, Naples

• Orlando World Center Marriott

• Four Seasons Resort Orlando

• JW Marriott Atlanta Buckhead

Recent Developments

New Products Launched:

• 1 Hotel Central Park:

• Type: Hotel.

• Features: LEED Certified®, 2,000 square feet of meeting space, fitness center, business center, and restaurant Jams.

• The Ritz-Carlton O’ahu, Turtle Bay:

• Type: Hotel.

• Features: 450 rooms with ocean views, bungalows, meeting space, club lounge, food & beverage outlets, spa, fitness center, golf courses, and beach access. Management transition to the Ritz-Carlton brand.

New Features Added:

• The Ritz-Carlton, Naples:

• Features: Completion of restoration efforts, including a permanent central energy plant post-Hurricane Ian.

Partnerships and Other Developments:

• LEED Certification:

• Properties: 20 properties achieved LEED Certification as of 2024.

• Sustainability Initiatives:

• Recognition: TIME named Host one of the World's Most Sustainable Companies, and USA Today recognized the company as one of America's Climate Change Leaders in 2024.

• Financial Developments:

• Debt Repayment and Issuances:

• $700 million of 5.500% Senior Notes due 2035: Offering priced and expected to close on August 12, 2024.

• $600 million of 5.700% Series K Green Bond Senior Notes due 2034: Issued on May 10, 2024.

• Repayment of Revolving Credit Facility: $525 million draw to facilitate hotel acquisitions.

• Corporate Responsibility:

• Sustainability Efforts: Consistently recognized for sustainability leadership, including a high CDP Climate Change Leadership Level and ISS ESG Prime Corporate Rating.

Financial Performance

Second Quarter 2024:

• Revenues: $1,466 million.

• Net Income: $242 million, an increase of 13.1% compared to Q2 2023.

• Comparable Hotel Revenues: $1,415 million, a 0.4% increase from Q2 2023.

• Adjusted EBITDAre: $476 million, a 6.7% increase from Q2 2023.

Year-to-Date 2024:

• Revenues: $2,937 million.

• Net Income: $514 million, a 1.8% increase from the previous year.

• Adjusted EBITDAre: $959 million, a 7.8% increase from the previous year.

Awards and Recognition

• LEED®: 20 Properties (2024).

• DJSI: DJSI World & North America Listed (2023).

• CDP: Climate Change Leadership Level (2023).

• R-Factor: Industry Leader (Top 10%).

• ISS ESG: Prime Corporate Rating.

• Sustainalytics: Low ESG Risk.

• FTSE4Good: Top 13% of All Companies.

• TIME: Named one of the World's Most Sustainable Companies (2024).

• Barron's: One of America’s Top 10 Most Sustainable REITs.

• USA Today: One of America’s Climate Change Leaders (2024).

Conclusion

Host Hotels & Resorts leverages its diversified portfolio, financial strength, and strong operational capabilities to maintain its position as the largest lodging real estate investment trust in the United States. Its focus on sustainability and strategic acquisitions continues to enhance its market presence and operational performance.