Earnings summaries and quarterly performance for HOST HOTELS & RESORTS.
Executive leadership at HOST HOTELS & RESORTS.
James F. Risoleo
President and Chief Executive Officer
Julie P. Aslaksen
Executive Vice President, General Counsel & Secretary
Michael E. Lentz
Executive Vice President, Development, Design & Construction
Nathan S. Tyrrell
Executive Vice President, Chief Investment Officer
Sourav Ghosh
Executive Vice President, Chief Financial Officer
Board of directors at HOST HOTELS & RESORTS.
A. William Stein
Director
Diana M. Laing
Director
Gordon H. Smith
Independent Lead Director
Herman E. Bulls
Director
Mary Hogan Preusse
Director
Mary L. Baglivo
Director
Richard E. Marriott
Chairman of the Board
Walter C. Rakowich
Director
Research analysts who have asked questions during HOST HOTELS & RESORTS earnings calls.
Chris Darling
Green Street
7 questions for HST
Chris Woronka
Deutsche Bank AG
7 questions for HST
David Katz
Jefferies Financial Group Inc.
7 questions for HST
Duane Pfennigwerth
Evercore ISI
7 questions for HST
Robin Farley
UBS
6 questions for HST
Michael Bellisario
Robert W. Baird & Co.
5 questions for HST
Smedes Rose
Citigroup
5 questions for HST
Ari Klein
BMO Capital Markets
4 questions for HST
Jay Kornreich
Wedbush Securities
4 questions for HST
Aryeh Klein
BMO Capital Markets
3 questions for HST
Jack Armstrong
Wells Fargo
3 questions for HST
Bennett Rose
Citigroup
2 questions for HST
Cooper Clark
Wells Fargo
2 questions for HST
Daniel Hogan
Baird
2 questions for HST
Daniel Politzer
Wells Fargo
2 questions for HST
Floris van Dijkum
Compass Point Research & Trading
2 questions for HST
Gregory Miller
Truist Securities
2 questions for HST
Shaun Kelley
Bank of America Merrill Lynch
1 question for HST
Stephen Grambling
Morgan Stanley
1 question for HST
Recent press releases and 8-K filings for HST.
- On November 26, 2025, Host Hotels & Resorts, L.P. completed an underwritten public offering of $400 million aggregate principal amount of 4.250% Series N senior notes due 2028.
- The notes pay interest semi-annually and are callable at par beginning November 15, 2028, ranking pari passu with existing senior unsecured debt.
- Net proceeds, together with cash on hand, will be used to redeem all $400 million of 4.500% Series F senior notes due 2026 on November 28, 2025.
- The supplemental indenture includes covenants requiring at least 1.5× EBITDA-to-interest coverage, total debt ≤ 65% of assets, and unencumbered assets ≥ 150% of unsecured debt.
- Host Hotels & Resorts, L.P. entered into an underwriting agreement to sell $400 million of 4.250% Series N senior notes due December 15, 2028, with Wells Fargo Securities, Goldman Sachs & Co. and J.P. Morgan Securities as joint book-running managers; priced to the public at 99.539% of par, implying a yield of 4.412%.
- The company estimates net proceeds of approximately $395 million, which, together with cash on hand, will be used to redeem all outstanding Series F senior notes due 2026 at 100% of principal plus accrued interest on the November 28, 2025 redemption date.
- Host Hotels & Resorts, L.P. priced $400 million aggregate principal amount of 4.250% senior unsecured notes due 2028, with the Offering expected to close on November 26, 2025.
- Estimated net proceeds of approximately $395 million will be used to redeem all outstanding Series F senior notes due 2026 after deducting underwriting discounts and fees.
- The Offering’s joint book-running managers are Wells Fargo Securities, Goldman Sachs, J.P. Morgan Securities, BofA Securities, Morgan Stanley and TD Securities.
- Delivered $319 million Adjusted EBITDAre (–3.3% YoY) and $0.35 adjusted FFO per share (–2.8% YoY); year-to-date Adjusted EBITDAre and FFO per share are up 2.2% and 60 bps, respectively.
- Comparable hotel total RevPAR improved 80 bps and RevPAR rose 20 bps due to stronger transient demand and higher rates; quarterly EBITDA margin was 23.9% (–50 bps YoY).
- Sold Washington Marriott Metro Center for $177 million at 12.7× trailing EBITDA; since 2018, disposed $5.2 billion of assets at 17.1× EBITDA vs. $4.9 billion acquired at 13.6× EBITDA.
- Increased full-year guidance: comparable RevPAR to 3%, total RevPAR to 3.4%, and Adjusted EBITDAre to $1.73 billion (+$25 million).
- Host Hotels delivered $319 million in Q3 adjusted EBITDAre (-3.3% YoY) and $0.35 adjusted FFO per share (-2.8% YoY); YTD adjusted EBITDAre and FFO per share rose 2.2% and 60 bps, respectively.
- Raised full-year 2025 guidance with comparable RevPAR growth of ~3%, total RevPAR growth of ~3.4%, and adjusted EBITDAre to $1.73 billion (+$25 million).
- 2025 CapEx guidance of $605–640 million, including $75–80 million for damage reconstruction and $280–295 million for redevelopment, plus $80–85 million for the Four Seasons condo project.
- Strong balance sheet with $2.2 billion liquidity, 2.8× leverage, a 5.2-year average debt maturity, and a Moody’s upgrade to Baa2.
- Returned capital via $200 million of share repurchases YTD and a quarterly dividend of $0.20 per share.
- In Q3 2025, adjusted EBITDAre was $319 million, down 3.3% year-over-year, and adjusted FFO per share was $0.35, down 2.8%.
- Comparable hotel total RevPAR improved 80 bps and RevPAR by 20 bps, while EBITDA margin declined 50 bps to 23.9%.
- Full-year 2025 guidance was raised to ~3% comparable RevPAR growth, 3.4% total RevPAR growth, and $1.73 billion adjusted EBITDAre, up $25 million (1.5%).
- Sold Washington Marriott Metro Center for $177 million at 12.7x EBITDA, and outlined $605–640 million CapEx guidance including $280–295 million for redevelopment, with transformational renovation programs progressing under Hyatt and Marriott.
- Maintains a fortress balance sheet with $2.2 billion of available liquidity, 2.8x leverage, and a Moody’s upgrade to Baa2, stable outlook.
- Q3 2025 comparable hotel performance: 76 comparable hotels, RevPAR $208.07, total revenues $1,293.3 million, Hotel EBITDA $309.4 million
- Capitalization as of September 30, 2025: market value of equity $11,853 million, consolidated debt $5,079 million, cash $539 million, consolidated total capitalization $16,393 million
- Dividends declared: $0.20 per common share for Q3 2025
- Credit facility covenants in compliance: leverage ratio 6.8x (max 7.25x), unsecured interest coverage 3.2x (min 1.75x), fixed charge coverage 3.2x (min 1.25x)
- Senior notes compliance: indebtedness 39% (max 65%), secured indebtedness <1% (max 40%), EBITDA-to-interest coverage 3.2x (min 1.5x), ratio of unencumbered assets to unsecured indebtedness 257% (min 150%)
- Operational performance: delivered $319 million adjusted EBITDAre (−3.3% YoY) and $0.35 adjusted FFO/share (−2.8% YoY) in Q3; YTD adjusted EBITDAre and FFO/share up 2.2% and 60 bps, respectively.
- Updated guidance: raised full-year comparable RevPAR to ~3%, total RevPAR to 3.4%, and adjusted EBITDAre to $1,730 million (up $25 million); since February, RevPAR expectations are +150 bps and EBITDA guidance +$110 million.
- RevPAR and demand: comparable hotel total RevPAR grew 80 bps YoY on stronger transient demand and rate growth; resort transient revenue +2% with Maui RevPAR +20%, and 2026 total group revenue pace +5%.
- Capital allocation: sold Washington Marriott Metro Center for $177 million at 12.7× LTM EBITDA; since 2018 disposed ~$5.2 billion of hotels at 17.1× EBITDA vs $4.9 billion of acquisitions at 13.6×; 2025 CapEx guidance is $605–$640 million, including $280–$295 million for redevelopment.
- Q3 2025 comparable hotel Total RevPAR grew 0.8% and RevPAR grew 0.2% versus Q3 2024, reflecting strong transient demand and rate improvements.
- Total revenues for the quarter were $1.331 billion, up 0.9% year-over-year; GAAP net income was $163 million (+94.0%), and diluted EPS was $0.23 (+91.7%).
- Full-year comparable hotel RevPAR growth guidance was raised to approximately 3.0% over 2024, up from prior ranges.
- Announced a second Marriott Transformational Capital Program and completed the sale of the Washington Marriott at Metro Center, supporting portfolio reinvestment and liquidity.
- $500 million 5.700% Series M Senior Notes due 2032 were issued under a Tenth Supplemental Indenture effective May 20, 2025, establishing the new series of senior notes.
- The indenture provides optional redemption provisions, allowing for note redemption before and after the Par Call Date with calculated redemption prices.
- Net proceeds from the offering will be used to redeem the outstanding $500 million 4.000% Series E Senior Notes due 2025, supporting the firm’s debt management strategy.
Quarterly earnings call transcripts for HOST HOTELS & RESORTS.
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