Financial Data and Key Metrics Changes - Adjusted EBITDAre for Q3 2025 was $319 million, a decrease of 3.3% year-over-year, while adjusted FFO per share was $0.35, down 2.8% compared to Q3 2024 [4] - Year-to-date, adjusted EBITDAre and adjusted FFO per share were up 2.2% and 60 basis points, respectively, compared to 2024 [4] - Comparable hotel total RevPAR improved by 80 basis points compared to Q3 2024, driven by better-than-expected transient demand and higher rates [5] Business Line Data and Key Metrics Changes - Comparable hotel EBITDA margin for Q3 declined by 50 basis points year-over-year to 23.9%, primarily due to increased expenses in wages and benefits [5][23] - Transient revenue grew by 2%, with double-digit growth at resort properties, particularly in Maui, San Francisco, New York, and Miami [5][20] - F&B revenue was flat, with outlet revenue growth offset by declines in banquet and catering revenue [18] Market Data and Key Metrics Changes - Maui experienced a 20% RevPAR growth driven by increased occupancy and strong out-of-room spending [6] - Business transient revenue was down 2% in Q3, primarily due to a reduction in government room nights [21] - Total group revenue pace for 2026 is up 13% for Maui, indicating continued recovery momentum [6][41] Company Strategy and Development Direction - The company is focusing on capital allocation decisions that enhance long-term shareholder value, including transformational renovations and strategic asset sales [30][32] - A second agreement with Marriott for transformational renovations at four properties is expected to enhance long-term performance [11] - The company anticipates continued outperformance in upper-upscale and luxury hotels due to its diversified portfolio and ongoing reinvestment [17] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the recovery of leisure travel and the affluent consumer's prioritization of premium experiences [47] - The company raised its full-year 2025 guidance for comparable hotel RevPAR and total RevPAR to approximately 3% and 3.4%, respectively, reflecting strong performance [16][24] - Management noted that the bifurcation of the consumer market is likely to benefit the company due to its higher-end properties [17] Other Important Information - The company collected $5 million in business interruption proceeds for Hurricanes Helene and Milton, totaling $24 million for the year [9] - Capital expenditure guidance for 2025 is set at $605-$640 million, including significant investments for redevelopment and repositioning projects [13] - The company has a strong balance sheet with $2.2 billion in total available liquidity and a leverage ratio of 2.8 times [26] Q&A Session Summary Question: Can we expect more asset trading in the market based on current observations? - Management indicated they will be opportunistic with capital allocation regarding dispositions and acquisitions, highlighting successful asset sales this year [30] Question: How are you selecting hotels and markets for investment? - The company screens assets to determine where to invest capital, focusing on transformational renovations that provide clear returns [35] Question: What is the outlook for group bookings in 2026? - Group revenue pace for 2026 is up 5%, with strong performance expected in key markets like San Francisco and Washington, D.C. [46] Question: What is driving the growth in out-of-room spending? - Increased spending on amenities such as spa and golf, along with successful repositioning of outlets, is driving growth in out-of-room spending [50] Question: What are the expectations for wage and benefits increases in 2026? - Wage rate growth is expected to be lower in 2026, with New York being the only major market with upcoming labor contract negotiations [57]

Core Insights - Host Hotels & Resorts, Inc. (HST) reported third-quarter adjusted funds from operations (AFFO) per share of 35 cents, exceeding the Zacks Consensus Estimate of 33 cents, but down 2.8% year-over-year [1][9] - The company generated total revenues of $1.33 billion, meeting the Zacks Consensus Estimate, with a slight year-over-year increase driven by comparable hotel RevPAR growth [2][9] - HST raised its outlook for 2025 AFFO per share to $2.03 from the previous midpoint of $2, with expectations for comparable hotel RevPAR at $227 million and adjusted EBITDAre estimated at $1.73 billion [11] Financial Performance - Comparable hotel RevPAR was $208.07, showing a marginal increase from the prior year, primarily due to higher room rates and strong transient leisure demand [3] - Comparable hotel EBITDA was $309.4 million, down 1% year-over-year, with a margin decrease of 50 basis points to 23.9% due to rising wages and benefit expenses [4] - The average room rate increased to $299.07 from $290.27 in the previous year, while the average occupancy rate was 69.6%, down 190 basis points year-over-year [4] Business Segments - Room nights for the contract business increased by 11.6% year-over-year, while transient and group businesses saw declines of 1.2% and 7.8%, respectively [5] - The transient, group, and contract businesses accounted for approximately 60%, 36%, and 4% of total room sales in 2024 [5] Capital Expenditure and Investments - Host Hotels' capital expenditure for the year-to-date through September 30, 2025, totaled $454 million, with allocations for return on investment projects, renewal and replacement expenditures, and property damage reconstruction [10] - The company agreed with Marriott International on a second transformational capital program for four properties, with total expenditures expected between $300 million and $350 million through 2029 [6] Balance Sheet and Credit Rating - As of September 30, 2025, Host Hotels had cash and cash equivalents of $539 million, up from $490 million at the end of June 2025, with total liquidity of $2.2 billion [7] - Moody's upgraded the company's credit rating to Baa2 with a stable outlook during the third quarter of 2025 [7]

Company Overview - Host Hotels & Resorts has a market capitalization of $11.9 billion and an enterprise value of $16.7 billion as of September 30, 2025[8] - The company's portfolio includes 79 hotels with approximately 42,500 rooms located in 21 top U S markets[9] Financial Performance - For the quarter ended September 30, 2025, comparable hotels generated total revenues of $1,293.3 million and Hotel EBITDA of $309.4 million[22] - For the nine months ended September 30, 2025, comparable hotels generated total revenues of $4,388.0 million and Hotel EBITDA of $1,282.6 million[44] - The company forecasts comparable hotel RevPAR to increase by 3.0% compared to 2024, with an expected comparable hotel EBITDA of $1,673 million for the full year 2025[66] Capital Structure and Financial Covenants - As of September 30, 2025, the company's consolidated debt totaled $5,079 million, with 80% being fixed-rate debt and a weighted average interest rate of 4.9%[78] - The company's leverage ratio, as defined by its credit facility, was 2.8x, well below the maximum permitted level of 7.25x[89, 92] - The ratio of unencumbered assets to unsecured indebtedness, as defined by the senior notes indenture, was 446%, significantly above the minimum requirement of 150%[89, 103] Property Transactions - From 2018 to 2025, the company's dispositions included 19,960 rooms sold for $5,240 million, while acquisitions included 5,273 rooms acquired for $4,909 million[85]

Core Insights - Host Hotels reported revenue of $1.33 billion for the quarter ended September 2025, reflecting a year-over-year increase of 0.9% and a surprise of +0.32% over the Zacks Consensus Estimate [1] - Earnings per share (EPS) for the quarter was $0.35, significantly higher than $0.12 in the same quarter last year, resulting in an EPS surprise of +6.06% compared to the consensus estimate of $0.33 [1] Financial Performance Metrics - The number of rooms stood at 41,837, slightly below the average estimate of 42,373 from three analysts [4] - Revenue per available room (RevPAR) was reported at $208.07, exceeding the average estimate of $203.99 [4] - The total number of properties was 76, which is lower than the estimated 78 by two analysts [4] - The average room rate was $299.07, surpassing the average estimate of $293.50 [4] - The average occupancy percentage was 69.6%, slightly below the average estimate of 69.9% [4] - Room revenue reached $826 million, above the average estimate of $807.68 million, marking a year-over-year change of +0.1% [4] - Other revenues totaled $141 million, which was below the average estimate of $148.18 million, but represented a year-over-year increase of +9.3% [4] - Food and beverage revenues were $364 million, slightly below the average estimate of $370.5 million, with a year-over-year change of -0.3% [4] - Diluted earnings per share were reported at $0.23, significantly higher than the average estimate of $0.03 from five analysts [4] Stock Performance - Over the past month, shares of Host Hotels have returned -2.3%, contrasting with the Zacks S&P 500 composite's +1% change [3] - The stock currently holds a Zacks Rank 3 (Hold), indicating expected performance in line with the broader market in the near term [3]

Host Hotels (HST) came out with quarterly funds from operations (FFO) of $0.35 per share, beating the Zacks Consensus Estimate of $0.33 per share. This compares to FFO of $0.36 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an FFO surprise of +6.06%. A quarter ago, it was expected that this lodging real estate investment trust would post FFO of $0.51 per share when it actually produced FFO of $0.58, delivering a surprise of +13.73%.Over the last fou ...

Exhibit 99.1 SOURAV GHOSH Chief Financial Officer (240) 744-5267 JAIME MARCUS Investor Relations (240) 744-5117 ir@hosthotels.com Host Hotels & Resorts, Inc. Reports Results for the Third Quarter 2025 Quarterly Comparable Hotel Total RevPAR Growth of 0.8% and Comparable Hotel RevPAR Growth of 0.2% Raises Full Year Comparable Hotel RevPAR Growth Guidance to ~3.0% Over 2024 Announces Second Marriott Transformational Capital Program Completed Sale of Washington Marriott at Metro Center BETHESDA, Md; November 5 ...

Core Insights - Host Hotels & Resorts, Inc. reported a 0.8% increase in comparable hotel Total RevPAR for Q3 2025 compared to Q3 2024, driven by strong transient demand and improvements in room revenues and ancillary spend [1][4][5] - The company raised its full-year guidance for comparable hotel RevPAR growth to approximately 3.0% for 2024, exceeding previous expectations [1][4] - The company completed the sale of the Washington Marriott at Metro Center for $177 million, recording a gain on sale of approximately $122 million [5][10] Financial Performance - Total revenues for Q3 2025 were $1,331 million, a 0.9% increase from $1,319 million in Q3 2024, with year-to-date revenues of $4,511 million, up 6.0% from $4,256 million [3][5] - Net income for Q3 2025 was $163 million, reflecting a 94.0% increase compared to $84 million in Q3 2024, with year-to-date net income of $639 million, a 6.9% increase from $598 million [3][5] - Comparable hotel RevPAR for Q3 2025 was $208.07, a 0.2% increase from $207.58 in Q3 2024, with year-to-date comparable hotel RevPAR of $229.95, up 3.5% from $222.10 [3][5] Operational Highlights - The company reported a decline in comparable hotel EBITDA for Q3 2025 to $309 million, down 1.3% from Q3 2024, with a comparable hotel EBITDA margin decrease of 50 basis points to 23.9% [5][10] - The company anticipates a decline in operating profit margin and comparable hotel EBITDA margin due to rising wages and a decrease in business interruption proceeds compared to 2024 [12][13] - The company has entered into a new agreement with Marriott for a second transformational capital program at four properties, expecting to invest between $300 million and $350 million through 2029 [10][11] Market Trends - The company’s customer mix for 2024 consisted of approximately 60% transient, 36% group, and 4% contract business, with group room nights down year-over-year due to planned renovations [7][8] - The company expects favorable demand trends to continue, supported by its investment-grade balance sheet and diversified portfolio [4][10] Capital Expenditures - Year-to-date capital expenditures through Q3 2025 totaled $454 million, with a full-year forecast of $605 million to $640 million [9][10] - The company has allocated $114 million for ROI projects under the Marriott and Hyatt Transformational Capital Programs [9][10] Outlook - The company revised its 2025 guidance for comparable hotel Total RevPAR to $380, reflecting a 3.4% increase compared to 2024, and comparable hotel RevPAR to $227, a 3.0% increase [14][13] - The anticipated contribution from condominium development adjacent to the Four Seasons Resort Orlando has declined by $5 million from previous guidance, with expected sales prices and project costs remaining on target [13][14]

Company Overview - Host Hotels & Resorts, Inc. (HST) is the largest lodging REIT in the U.S., with a market cap of $11 billion, focusing on luxury and upper-upscale hotels in prime U.S. markets [1] - The company aims to acquire, renovate, and operate premium hotel properties through partnerships with leading hotel brands, benefiting from strong travel demand [1] Performance Analysis - HST stock has declined by 8.6% year-to-date and 9.8% over the past 52 weeks, underperforming the S&P 500 Index, which gained 16.3% in 2025 and 17.7% over the past year [2] - The REIT has also lagged behind its peers, underperforming the Real Estate Select Sector SPDR Fund (XLRE), which saw a marginal increase in 2025 but a 7% drop over the past 52 weeks [3] Market Challenges - The hotel sector is facing secular challenges, including slower recovery in corporate travel and increased competition from alternative lodging, which has contributed to HST's lower growth profile and cautious guidance [4] Financial Outlook - For fiscal 2025, analysts expect HST to report a 1.5% year-over-year drop in AFFO to $2 per share, although the company has a solid earnings surprise history, matching or surpassing estimates in the past four quarters [5] - The consensus rating for HST is "Moderate Buy," with 18 analysts covering the stock, including eight "Strong Buys," one "Moderate Buy," and nine "Holds" [5] Analyst Ratings - On October 4, Wells Fargo analyst Dori Kesten reaffirmed a "Buy" rating on HST, maintaining a price target of $19, while the mean price target of $18.75 suggests a 17% upside potential [6] - The highest target from analysts is $22, indicating a notable 37.3% premium to current price levels [6]

Core Insights - The article emphasizes the importance of conducting personal due diligence before making investment decisions, highlighting that past performance does not guarantee future results [2][3] Group 1 - The content is based on personal thoughts and research, indicating that it is not financial or investment advice [2][3] - The article mentions that the author has no business or personal relationship with any company mentioned, ensuring an unbiased perspective [2][3] - It clarifies that the views expressed may not reflect those of the platform as a whole, indicating a diversity of opinions among contributors [3]

Core Viewpoint - Host Hotels & Resorts, Inc. (HST) is the largest lodging REIT, valued at $11.3 billion, and is set to announce its fiscal third-quarter earnings for 2025 on November 5, 2025 [1] Financial Performance - Analysts expect HST to report a Funds From Operations (FFO) of $0.33 per share for Q3 2025, which is an 8.3% decrease from $0.36 per share in the same quarter last year [2] - For the full year, HST is projected to report an FFO per share of $2.01, reflecting a 2% increase from $1.97 in fiscal 2024, but a decline of 2.5% year over year to $1.96 per share is anticipated in fiscal 2026 [3] Stock Performance - HST stock has underperformed the S&P 500 Index, which gained 15.1% over the past 52 weeks, with HST shares down 5.6% during the same period [4] - The stock also underperformed the Real Estate Select Sector SPDR Fund, which saw a 3.4% decline [4] Challenges - HST faces challenges from rising costs, economic uncertainty, inflation, and a slower-than-expected recovery in business and group travel demand, which may limit near-term growth and stock price gains [5] Recent Results - In Q2, HST reported an adjusted FFO per share of $0.58, exceeding Wall Street's expectation of $0.51, with revenue of $1.6 billion, surpassing the forecast of $1.5 billion [6] Analyst Ratings - The consensus opinion on HST stock is moderately bullish, with a "Moderate Buy" rating overall; out of 18 analysts, eight recommend a "Strong Buy," one a "Moderate Buy," and nine a "Hold" [7] - HST's average analyst price target is $18.58, indicating a potential upside of 11.6% from current levels [7]