BETHESDA, Md., March 13, 2025 (GLOBE NEWSWIRE) -- Host Hotels & Resorts, Inc. (NASDAQ:HST) (the "Company"), the nation's largest lodging real estate investment trust, will report first quarter 2025 financial results on Wednesday, April 30, 2025, after the market close. The Company will hold a conference call to discuss its first quarter 2025 results and business outlook on Thursday, May 1, 2025, at 11:00 a.m. ET. Conference call access information is as follows: Conference Call:   USA/Canada Toll Free Numbe ...

BETHESDA, Md., March 13, 2025 (GLOBE NEWSWIRE) -- Host Hotels & Resorts, Inc. (NASDAQ: HST) (the “Company”), the nation’s largest lodging real estate investment trust, will report first quarter 2025 financial results on Wednesday, April 30, 2025, after the market close. The Company will hold a conference call to discuss its first quarter 2025 results and business outlook on Thursday, May 1, 2025, at 11:00 a.m. ET. Conference call access information is as follows: Conference Call: USA/Canada Toll Free Numb ...

Financial Reporting Structure - Host Inc. and Host L.P. have combined their Management's Discussion and Analysis of Financial Condition and Results of Operations, with separate discussions for material differences in liquidity and capital resources[18]. - The financial statements are presented separately, but the notes to the financial statements are generally combined, except for discussions of differences between equity of Host Inc. and capital of Host L.P.[18]. Forward-Looking Statements - Forward-looking statements in the 2024 Annual Report include anticipated results based on management's plans and assumptions, with terms like "expect," "project," and "forecast" used to indicate future performance[28]. - The company acknowledges that actual results may differ materially from those anticipated due to risks and uncertainties, as discussed in Item 1A "Risk Factors"[29]. - Host Inc. does not undertake any obligation to publicly update forward-looking statements, advising stakeholders to consult additional disclosures in reports filed with the SEC[30]. Risk Factors - The company emphasizes the importance of understanding risk factors that could affect business performance, as outlined in the Private Securities Litigation Reform Act of 1995[30].

Financial Data and Key Metrics Changes - For the full year 2024, adjusted EBITDAre was $1.656 billion, a 1.7% increase over 2023, and adjusted FFO per share was $1.97, a 2.6% increase year-over-year [9][10] - Comparable hotel total RevPAR grew 2.1%, while comparable hotel RevPAR increased by 90 basis points compared to 2023 [9] - Comparable hotel EBITDA margin was 29.2%, down 60 basis points versus 2023, primarily due to increased wages and fixed expense pressures [9][45] Business Line Data and Key Metrics Changes - Transient revenue grew 8%, the highest improvement in the last six quarters, driven by strong leisure demand in Maui, New York, and Oahu [12] - Group room revenue for the quarter was down approximately 5% year-over-year due to tough comparisons in San Francisco and Maui [14] - F&B revenue grew nearly 3% in the quarter, driven by outlets at resorts, with banquet revenue increasing despite a decrease in group room nights [16][17] Market Data and Key Metrics Changes - Total RevPAR at the three Maui resorts was up 6.4% in the fourth quarter, with transient rooms sold up approximately 50% year-over-year at Alila resorts [15] - Business transient revenue grew approximately 6%, driven by strong rate growth and a favorable market mix [13] - Group revenue pace is up 5.6% over the same time last year, with notable increases in San Francisco, San Antonio, and New York [43] Company Strategy and Development Direction - The company acquired $1.5 billion of real estate across four properties, continuing to reinvest in its portfolio through capital expenditures and resiliency investments [7][22] - The company expects to benefit from approximately $27 million of operating profit guarantees in 2025 related to the Hyatt Transformational Capital Program [28] - The company is focused on maintaining an investment-grade balance sheet while exploring opportunities for acquisitions and stock buybacks [22][124] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the state of travel, noting that affluent consumers continue to prioritize experiences [33] - For 2025, the company anticipates comparable hotel RevPAR growth of between 50 basis points and 2.5% over 2024, with EBITDA margins expected to decline [46][49] - Management highlighted the ongoing strength of group business and the potential for further growth in business transient demand [60][72] Other Important Information - The company returned over $844 million of capital to stockholders in 2024 through dividends and share repurchases [24] - The company completed renovations to approximately 2,100 guest rooms and 213,000 square feet of meeting space in 2024 [25] - The company was named to Newsweek's list of America's Most Responsible Companies for the sixth consecutive year [30] Q&A Session Summary Question: What are the assumptions for guidance regarding macroeconomic factors? - Management indicated that guidance is based on current GDP growth and non-residential fixed investment data, with potential upside in group business due to strong pace and rates [57][58] Question: Can you clarify the impact of Maui on EBITDA for 2024 and expectations for 2025? - Management provided a breakdown of Maui's EBITDA, estimating a restated figure of $72 million for 2024, with expectations for 2025 ranging from $80 million to $95 million [66] Question: How is the company positioned regarding labor availability and productivity? - Management expressed confidence in labor availability due to strong management partnerships and highlighted the use of AI to enhance customer service and productivity [106][108] Question: What is the company's approach to capital deployment in 2025? - Management stated that capital deployment will be opportunistic, focusing on acquisitions, stock buybacks, and continued investment in portfolio improvements [123][124] Question: How does the company view the current stock valuation and buyback strategy? - Management acknowledged that the stock is undervalued and indicated that stock buybacks will be considered, but emphasized the importance of maintaining operational focus and balance sheet strength [134][136]

Core Insights - Host Hotels & Resorts, Inc. is the largest lodging real estate investment trust in the United States and is part of the S&P 500 [2] - The company owns a total of 76 properties in the United States and five properties internationally, amounting to approximately 43,400 rooms [2] Company Overview - Host Hotels & Resorts, Inc. specializes in luxury and upper-upscale hotels, making it one of the largest owners in this segment [2] - The company also has non-controlling interests in seven domestic and one international joint ventures [2] Financial Communication - An updated investor presentation for the fourth quarter of 2024 results has been made available on the company's Investor Relations section of its website [1]

Group 1 - Host Hotels & Resorts, Inc. is the largest lodging real estate investment trust in the United States and is part of the S&P 500 [2] - The company owns a total of 76 properties in the United States and five properties internationally, amounting to approximately 43,400 rooms [2] - Host Hotels & Resorts also has non-controlling interests in seven domestic and one international joint ventures [2] Group 2 - An updated investor presentation for the fourth quarter 2024 results has been provided by the company [1]

Core Insights - Host Hotels & Resorts, Inc. (HST) reported fourth-quarter adjusted funds from operations (AFFO) per share of 44 cents, exceeding the Zacks Consensus Estimate of 40 cents, with the figure unchanged from the prior-year quarter [1] - The company generated total revenues of $1.43 billion, surpassing the Zacks Consensus Estimate of $1.38 billion, reflecting a year-over-year increase of 7.9% [2] - For 2024, HST reported AFFO per share of $1.97, up from $1.92 in the previous year, and total revenues of $5.68 billion, which increased by 7% year over year [3] Financial Performance - Comparable hotel RevPAR was $212.86 in the fourth quarter, a 3% increase from $206.67 in the prior year, driven by better rates from transient leisure demand [4] - The average room rate rose to $317.23 from $307.05 year-over-year, while the comparable average occupancy percentage was 67.1%, down 20 basis points from the previous year [5] - Room nights for transient and contract businesses grew by 2.8% and 0.3% year over year, while group business declined by 4.8% [6] Balance Sheet and Capital Expenditure - As of December 31, 2024, Host Hotels had cash and cash equivalents of $554 million, with total liquidity of $2.3 billion, including $242 million in FF&E escrow reserves [7] - The company's capital expenditure totaled $548 million, with $260 million allocated for total return on investment projects, $252 million for renewal and replacement, and $36 million for property damage reconstruction [8] 2025 Outlook - HST projects full-year AFFO in the range of $1.82-$1.91, which is lower than the Zacks Consensus Estimate of $1.93 [9] - The company expects comparable hotel RevPAR to be between $221-$225 million and adjusted EBITDAre to range from $1.59 billion to $1.65 billion for 2025 [10] Dividend Information - Concurrent with the fourth-quarter earnings, HST declared a first-quarter 2025 dividend of 20 cents on its common stock, payable on April 15 to stockholders of record on March 31, 2025 [11]

Core Insights - Host Hotels (HST) reported a revenue of $1.43 billion for Q4 2024, marking a year-over-year increase of 7.9% and exceeding the Zacks Consensus Estimate of $1.38 billion by 3.72% [1] - The earnings per share (EPS) for the same quarter was $0.44, compared to $0.19 a year ago, representing a surprise of 10% over the consensus estimate of $0.40 [1] Financial Performance Metrics - Average Room Rate was $317.23, surpassing the estimated $309.70 [4] - Revenue per Available Room (RevPAR) reached $212.86, exceeding the estimate of $207.58 [4] - Average Occupancy Percentage stood at 67.1%, matching the analysts' estimate [4] - The total number of rooms was 42,508, slightly below the estimated 42,740 [4] - The number of properties was 78, compared to the average estimate of 79 [4] - Room revenues amounted to $863 million, exceeding the estimated $824.95 million, reflecting an 8.3% year-over-year increase [4] - Other revenues were reported at $134 million, above the estimated $128.37 million, indicating a 13.6% year-over-year change [4] - Food and beverage revenues reached $431 million, surpassing the estimate of $424.99 million, with a year-over-year change of 5.6% [4] - Diluted earnings per share were $0.15, exceeding the average estimate of $0.12 [4] Stock Performance - Over the past month, shares of Host Hotels have returned -0.9%, while the Zacks S&P 500 composite has increased by 2.4% [3] - The stock currently holds a Zacks Rank 3 (Hold), suggesting it may perform in line with the broader market in the near term [3]

分组1 - Host Hotels reported quarterly funds from operations (FFO) of $0.44 per share, exceeding the Zacks Consensus Estimate of $0.40 per share, with a year-over-year comparison showing no change [1] - The company achieved revenues of $1.43 billion for the quarter ended December 2024, surpassing the Zacks Consensus Estimate by 3.72%, compared to $1.32 billion in the same quarter last year [2] - Over the last four quarters, Host Hotels has exceeded consensus FFO estimates three times and topped consensus revenue estimates three times [2] 分组2 - The stock has underperformed the market, losing about 2.7% since the beginning of the year, while the S&P 500 gained 4.2% [3] - The current consensus FFO estimate for the upcoming quarter is $0.56 on revenues of $1.52 billion, and for the current fiscal year, it is $1.93 on revenues of $5.83 billion [7] - The Zacks Industry Rank places the REIT and Equity Trust - Other sector in the bottom 34% of over 250 Zacks industries, indicating potential challenges for stock performance [8]

Financial Performance - The company reported a market capitalization of $12.4 billion as of December 31, 2024[8]. - The enterprise value of the company is $17.2 billion[9]. - Total revenues for domestic properties reached $1,347.9 million, with hotel EBITDA of $378.1 million[25]. - The company reported a net income of $134.0 million for the quarter, indicating strong profitability[34]. - Total revenues for comparable hotels reached $5,545.9 million, with an average room rate of $306.81 and an occupancy percentage of 70.4%[40]. - Hotel net income for all locations was $707.4 million, with an EBITDA of $1,698.0 million[46]. - The company reported a total EBITDA of $370.3 million for comparable hotels, with significant contributions from locations such as New York and San Diego[36]. - The total EBITDA for the company, including all adjustments, was reported at $1,726.2 million for the year[63]. - Net income for the year ended December 31, 2024, was $707 million, projected to be $516 million for 2025[69]. - Total revenues for the year ended December 31, 2024, reached $5,684 million, with comparable hotel revenues at $5,732 million[67]. Operational Metrics - The average room rate across domestic properties was $320.79 with an occupancy percentage of 67.2%[25]. - The RevPAR (Revenue per Available Room) for domestic properties was $215.59[25]. - The average daily room rate (ADR) across all locations was $307.05, contributing to a RevPAR of $206.67[34]. - The average RevPAR (Revenue per Available Room) for comparable hotels was $216.06, indicating effective revenue management strategies[44]. - The average occupancy rate for the top 40 hotels was 72.8%, while the remaining 41 hotels had an occupancy rate of 67.2%[61]. - The average revenue per available room (RevPAR) for the top 40 hotels was $391.15, indicating strong performance[61]. - The average occupancy rate for the San Francisco/San Jose area was 65.3%, with a hotel net income of $(17.0) million, highlighting challenges in that market[44]. Market Presence and Expansion - The company operates 73 properties with a total of 41,009 rooms in the domestic market[25]. - The company plans to expand its market presence by separating the Oahu and Maui markets starting Q3 2024[32]. - The company plans to continue expanding its market presence, focusing on both domestic and international properties[49]. - The company anticipates continued recovery in the travel and lodging industry, influenced by external factors such as the Maui wildfires[18]. - The company plans to continue expanding its market presence and enhancing its portfolio through strategic acquisitions and new developments[54]. Financial Ratios and Debt - As of December 31, 2024, the company has a total debt of $5,083 million, an increase from $4,209 million in the previous year[88]. - The leverage ratio is at 7.2x, which is below the maximum permitted level of 7.25x[95]. - The consolidated fixed charge coverage ratio stands at 3.3x, exceeding the minimum requirement of 1.25x[95]. - The weighted average interest rate on the company's debt is 4.7%, with 80% of the debt being fixed rate[88]. - The company has a weighted average debt maturity of 5.2 years, an increase from 4.2 years in the previous year[88]. - The GAAP total indebtedness to total assets ratio is 39%, while the total indebtedness to total assets per senior notes indenture is 23%[103]. Non-GAAP Measures - The company utilizes non-GAAP financial measures, including Funds From Operations (FFO) and EBITDA, to assess performance[19]. - The company presents NAREIT FFO and NAREIT FFO per diluted share as non-GAAP measures, which are useful for evaluating operating performance[122]. - Adjusted EBITDA is presented to provide additional performance measures, facilitating comparisons with other REITs[131]. - The company emphasizes that non-GAAP measures should not be considered alternatives to GAAP measures like net income or cash from operations[135]. - The company excludes property insurance gains and losses from Adjusted EBITDA to reflect ongoing asset performance accurately[133]. Challenges and Future Outlook - Non-comparable hotels reported a loss of $2.2 million, highlighting challenges in certain segments[34]. - The company is focusing on enhancing operational strategies to improve overall performance and profitability in the upcoming quarters[34]. - Future guidance indicates a focus on enhancing user data analytics to improve operational efficiency and customer experience[49]. - The company acknowledges that renovations are a regular part of the business, impacting the comparability of hotel performance[117]. - The company forecasts potential changes in overall economic outlook, which may affect RevPAR and interest expense[114].