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Host Hotels & Resorts, Inc. is a self-managed and self-administered real estate investment trust (REIT) that specializes in owning a large portfolio of luxury and upper-upscale hotels . Operating as an umbrella partnership REIT through Host Hotels & Resorts, L.P., the company is the sole general partner and owns 76 properties in the United States and five internationally, totaling approximately 43,400 rooms . The company's revenue streams are primarily derived from room sales, food and beverage services, and other hotel-related services . Host Hotels & Resorts partners with premium brands such as Marriott, Ritz-Carlton, and Hilton, among others, to offer iconic and irreplaceable assets in prime locations .
- Room Sales - Generates revenue through the sale of hotel rooms to transient, group, and contract customers, accounting for the majority of the company's income.
- Food and Beverage Services - Provides dining and catering services within its hotel properties, contributing significantly to the company's revenue.
- Other Hotel-Related Services - Offers additional services such as spa, parking, and other amenities to enhance guest experiences and drive supplementary income.
| Name | Position | External Roles | Short Bio | |
|---|---|---|---|---|
James F. Risoleo ExecutiveBoard | President and Chief Executive Officer | Board Member at Griffin Realty Trust; Member of AHLA Executive Committee, U.S. Travel Association CEO Roundtable, Real Estate Roundtable; NAREIT Executive Board | Joined HST in 1996; became CEO in January 2017; extensive experience in hotel investment, ESG leadership, and strategic planning. | View Report → |
Julie P. Aslaksen Executive | Executive Vice President, General Counsel, and Secretary | None mentioned | Joined HST in 2019; previously served as General Counsel at General Dynamics Information Technology. | |
Michael E. Lentz Executive | Executive Vice President, Development, Design & Construction | None mentioned | Joined HST in 2016; oversees development and construction; previously held leadership roles at Las Vegas Sands and Walt Disney Imagineering. | |
Nathan S. Tyrrell Executive | Executive Vice President and Chief Investment Officer | None mentioned | Joined HST in 2005; became CIO in 2017; oversees investment activities and portfolio strategy. | |
Sourav Ghosh Executive | Executive Vice President and Chief Financial Officer | None mentioned | Joined HST in 2009; became CFO in 2020; expertise in financial strategy, analytics, and capital markets. | |
A. William Stein Board | Director | Advisory Board Member at Pennybacker Capital, Crusoe Energy; Board Member at Salute Mission Critical, I Have a Dream Foundation | Former CEO of Digital Realty Trust; expertise in sustainability and global ESG matters. | |
Diana M. Laing Board | Director | Board Member at CareTrust REIT, Alexander & Baldwin, Spirit Realty Capital | Financial expert with over 35 years of experience in real estate investment and corporate governance. | |
Gordon H. Smith Board | Independent Lead Director | Board Member at Beasley Broadcast Group, Inc. | Former U.S. Senator from Oregon; expertise in public policy, international trade, and climate change initiatives. | |
Herman E. Bulls Board | Director | Vice Chairman at Jones Lang LaSalle; Board Member at Comfort Systems USA, Fluence Energy; Member of Defense Policy Board, Real Estate Advisory Committee for NYS Teachers’ Retirement System | Real estate and finance expert; extensive leadership experience in public and private sectors. | |
Mary Hogan Preusse Board | Director | Founder of Sturgis Partners; Board Member at Digital Realty Trust, Kimco Realty, Realty Income; Trustee at Bowdoin College; Member of Johns Hopkins Real Estate Advisory Board | Real estate investment expert; managed a $13 billion REIT portfolio; recognized for leadership in diversity and inclusion. | |
Mary L. Baglivo Board | Director | CEO of The Baglivo Group; Board Member at Urban Edge Properties, Ollie’s Bargain Outlet Holdings | Marketing and strategy expert; Chair of HST’s Culture and Compensation Committee. | |
Richard E. Marriott Board | Chairman of the Board | Chairman of First Media Corporation; Chairman of J. Willard Marriott and Alice S. Marriott Foundation; Director of Richard E. and Nancy P. Marriott Foundation; President of Marriott Foundation for People with Disabilities; National Advisory Council of BYU | Chairman since 1993; extensive experience in hospitality and governance. | |
Walter C. Rakowich Board | Director | Board Member at Iron Mountain Incorporated, Ventas, Inc.; Trustee at Penn State University; Board Member at Colorado UpLift | Former CEO of Prologis; expertise in real estate, financial management, and governance. |
- Given that your occupancy rates are still approximately 8 to 9 points below 2019 levels and you attribute this gap to the slow return to office workers, what specific strategies are you implementing to accelerate business transient demand, and how confident are you that occupancy will recover in the near term?
- You mentioned plans to test the market by selling non-core assets that require heavy CapEx investments while also aiming to be a net acquirer; how do you reconcile selling properties that may have future value with the strategy of acquiring new assets in what could become a more competitive transaction market?
- Regarding the 40-unit residential condo development at the Four Seasons Resort Orlando, can you elaborate on the risks associated with your underwritten sales proceeds relative to the $150 million to $170 million development budget, and what contingencies are in place if sales do not meet expectations?
- With leisure rates remaining relatively flat or slightly down year-over-year and considering potential economic headwinds, how do you plan to drive rate growth in the leisure segment for 2025 amid concerns about consumer strength and spending?
- The Maui wildfires have resulted in an estimated EBITDA gap of $75 million to $80 million for next year; what specific measures are you taking to mitigate this impact, and how will it affect your capital allocation priorities, including investments, acquisitions, and stock buybacks?
Notable M&A activity and strategic investments in the past 3 years.
| Company | Year | Details |
|---|---|---|
1 Hotel Central Park | 2024 | Acquired for $265 million, the property with 234 rooms was purchased at an 11.1x EBITDA multiple (≈8.1% cap rate) and is expected to rank among the top 10 assets in 2024; its luxury amenities and central location diversify the portfolio in Upper Manhattan. |
The Ritz-Carlton O'ahu, Turtle Bay | 2024 | Purchased for $680 million (net of key money), this iconic property on 1,180 acres with 450 rooms (including 42 bungalows) was acquired at a 16.3x EBITDA multiple (5.3% cap rate), with brand conversion and non-cash liability assumptions enhancing its financial profile. |
1 Hotel Nashville | 2024 | Acquired as part of a combined $530 million deal, this 215-room property—located in Nashville's Lower Broadway with extensive amenities—fits Host Hotels’ strategy in prime markets and is forecasted to contribute significant EBITDA and net income in 2024. |
Embassy Suites by Hilton Nashville Downtown | 2024 | Part of the same $530 million transaction as 1 Hotel Nashville, this 506-room asset in Nashville’s entertainment district offers extensive meeting and leisure facilities and is expected to bolster financial performance with an 11x EBITDA multiple. |
Four Seasons Resort and Residences Jackson Hole | 2022 | Bought for $315 million, this 125-room luxury ski-in/ski-out resort in Jackson Hole (with 44 private residences) was acquired at a 13.6x EBITDA multiple (6.6% cap rate) and has been repositioned through significant renovations, positioning it as one of Host Hotels’ top three assets. |
Recent press releases and 8-K filings for HST.
- $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.
- Host Hotels & Resorts, Inc. and its operating partnership entered into an underwriting agreement for a $500 million Series M Senior Notes issuance at a 5.700% coupon rate due 2032 on May 6, 2025.
- The net proceeds, estimated at approximately $490 million, will be used along with cash on hand to redeem the outstanding Series E Senior Notes due 2025, with a redemption date set for May 22, 2025.
- Strong Q1 performance with adjusted EBITDAre of $514 million (up 5.1% year-over-year) and adjusted FFO per share of $0.64 (up 4.9%), driven by operational gains and business interruption proceeds.
- Solid revenue trends were noted with improved comparable hotel RevPAR, notable transient strength in markets such as Maui and New York, and robust group performance despite challenging comparisons.
- Guidance updates point to moderated RevPAR growth and margin pressures for the full year, supported by disciplined capital allocation and dividend payments of $0.20 per share.
- Healthy balance sheet metrics underscore a leverage ratio of 2.8x and $2.2 billion in available liquidity, positioning the company for opportunistic investments.
- Filed on April 8, 2025, the Form 8-K details updates related to the company's registration statement on Form S-3 for its common stock offerings, including prospectus supplements.
- The report covers two mechanisms: one for the offer and sale of shares up to a combined aggregate value of $600 million and another for the issuance of shares in exchange for limited partnership units.
- Legal counsel, Venable LLP, provided opinions confirming that the share offerings are properly authorized, ensuring the shares will be validly issued, fully paid, and nonassessable.