Workflow
Host Hotels & Resorts(HST)
icon
Search documents
Host Hotels & Resorts(HST) - 2023 Q1 - Quarterly Report
2023-05-05 17:56
☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934. For the quarterly period ended March 31, 2023 OR UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934. Commission File Number: 001-14625 (Host Hotels & Resorts, Inc.) 0-25087 (Host Hotels & Resorts, L.P.) HOST HOTELS & RESORTS, INC. HOST HOTELS & RESORTS, L.P. (Exact name of registrant as specified i ...
Host Hotels & Resorts(HST) - 2023 Q1 - Earnings Call Transcript
2023-05-05 05:17
Financial Data and Key Metrics Changes - The company reported a comparable hotel EBITDA of $439 million in Q1 2023, which is 18% above 2019 and 44% above 2022, driven by occupancy increases and rate strength [26][52] - Comparable hotel RevPAR for Q1 was approximately $218, a 31% improvement over Q1 2022 and a 7.4% improvement over Q1 2019 [31][52] - The first quarter comparable hotel EBITDA margin was 32.5%, exceeding 2019 levels for the fourth consecutive quarter [26][63] Business Line Data and Key Metrics Changes - Group room revenues were 4% above Q1 2019, driven by a 14% rate growth, marking the third consecutive quarter that group revenue exceeded 2019 levels [39][57] - Transient revenue was up 13% compared to Q1 2022, with downtown hotels leading revenue growth due to strong demand [31][61] - Resort properties achieved a RevPAR increase of approximately 5% compared to 2022, despite challenges from Caribbean tourism [38][61] Market Data and Key Metrics Changes - The company noted that leisure rates remain well above 2019 levels, with transient rates at resorts being 54% above 2019 in Q1 [55][61] - Business transient revenue was down 14% compared to Q1 2019, but showed a 400 basis point improvement sequentially from Q4 [62] - Group revenue pace is now 2.5% ahead of the same time in 2019, with total group revenue for Q1 being 7% ahead of 2019 [57][84] Company Strategy and Development Direction - The company is actively evaluating potential investment opportunities, with a focus on acquisitions that will elevate EBITDA growth [2][58] - A significant capital allocation decision was made to develop and sell 40 fee-simple condominiums adjacent to the Four Seasons Resort in Orlando, targeting mid- to high teens cash-on-cash returns [59][72] - The company plans to maintain a balanced approach to capital allocation, including share repurchases and dividends, while pursuing growth opportunities [2][30] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the state of travel and the company's performance, despite macroeconomic uncertainties [30][67] - The outlook for the rest of the year has improved, with expectations for RevPAR growth of 7.5% to 10.5% [40][64] - Management highlighted the importance of maintaining high-rated business in resort markets and the continued improvement of group and business transient travel [40][67] Other Important Information - The company repurchased 3.2 million shares at an average price of $15.65 per share during the first quarter, with approximately $923 million remaining under the repurchase program [30][43] - The Ritz-Carlton Naples is nearing the end of reconstruction efforts, with expected reopening in July [32][56] - The company has not included any expected business interruption proceeds from Hurricane Ian in its 2023 guidance [65] Q&A Session Summary Question: What are the prospects for acquisitions versus share repurchases? - Management is actively evaluating investment opportunities and believes the strong balance sheet allows for both acquisitions and share repurchases [2] Question: How is the group rate recovery progressing? - Group rates have increased significantly, with a 14% growth compared to 2019, and management is confident in continued rate strength [39][57] Question: What is the outlook for business interruption insurance? - Management stated it is difficult to predict the timing and amount of business interruption insurance recovery, which is not included in the guidance [14] Question: How is the company addressing cost pressures and hiring challenges? - The company expects wage and benefit increases to remain around 5% for the year and is currently fully staffed across the portfolio [80]
Host Hotels & Resorts(HST) - 2022 Q4 - Annual Report
2023-02-22 21:25
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2022 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission File Number: 001-14625 (Host Hotels & Resorts, Inc.) 0-25087 (Host Hotels & Resorts, L.P.) HOST HOTELS & RESORTS, INC. HOST HOTELS & RESORTS, L.P. (Exact Name of Registrant as Specified in Its C ...
Host Hotels & Resorts(HST) - 2022 Q2 - Quarterly Report
2022-08-05 15:24
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934. For the quarterly period ended June 30, 2022 4747 Bethesda Ave, Suite 1300 Bethesda, Maryland (Address of Principal Executive Offices) (240) 744-1000 (Registrant's telephone number, including area code) OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934. Commission File Number: 001-14625 (Host H ...
Host Hotels & Resorts(HST) - 2022 Q1 - Quarterly Report
2022-05-06 17:31
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934. (Address of Principal Executive Offices) (240) 744-1000 (Registrant's telephone number, including area code) For the quarterly period ended March 31, 2022 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934. Commission File Number: 001-14625 (Host Hotels & Resorts, Inc.) 0-25087 (Host Hotels & Re ...
Host Hotels & Resorts(HST) - 2021 Q4 - Annual Report
2022-02-24 21:10
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2021 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission File Number: 001-14625 (Host Hotels & Resorts, Inc.) 0-25087 (Host Hotels & Resorts, L.P.) HOST HOTELS & RESORTS, INC. HOST HOTELS & RESORTS, L.P. (Exact Name of Registrant as Specified in Its C ...
Host Hotels & Resorts(HST) - 2021 Q3 - Quarterly Report
2021-11-05 11:56
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934. (Exact name of registrant as specified in its charter) Maryland (Host Hotels & Resorts, Inc.) Delaware (Host Hotels & Resorts, L.P.) (State or Other Jurisdiction of Incorporation or Organization) 4747 Bethesda Ave, Suite 1300 Bethesda, Maryland For the quarterly period ended date September 30, 2021 (Address of Principal Executive Offices ...
Host Hotels & Resorts(HST) - 2021 Q2 - Quarterly Report
2021-08-05 19:22
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 20814 (Zip Code) FORM 10-Q | (Registrant's telephone number, including area code) | | --- | | Securities registered pursuant to Section 12(b) of the Act: | | Title of each class Trading Symbol Name of Each Exchange on Which Registered | | Host Hotels & Resorts, Inc. Common Stock, $.01 par value HST The Nasdaq Stock Market LLC | | Host Hotels & Resorts, L.P. None None None | | Indicate by check mark whether the registrant (1) has filed a ...
Host Hotels & Resorts(HST) - 2021 Q1 - Quarterly Report
2021-05-05 21:02
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934. Commission File Number: 001-14625 (Host Hotels & Resorts, Inc.) 0-25087 (Host Hotels & Resorts, L.P.) EXPLANATORY NOTE This report combines the quarterly reports on Form 10-Q of Host Hotels & Resorts, Inc. and Host Hotels & Resorts, L.P. Unless stated otherwise or the context requires otherwise, references to "Host Inc." mean Host Hotels & Resort ...
Host Hotels & Resorts(HST) - 2020 Q4 - Annual Report
2021-02-25 19:21
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2020 OR HOST HOTELS & RESORTS, INC. HOST HOTELS & RESORTS, L.P. (Exact Name of Registrant as Specified in Its Charter) Maryland (Host Hotels & Resorts, Inc.) Delaware (Host Hotels & Resorts, L.P.) 53-0085950 (Host Hotels & Resorts, Inc.) 52-2095412 (Host Hotels & Resorts, L.P.) (State or Other Jurisdict ...