Host Hotels & Resorts(HST)

Search documents
Host Hotels & Resorts(HST) - 2023 Q4 - Annual Report
2024-02-28 18:41
Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION _________________________________________________________________________________________________________________________________________________W_________________ashington, D.C. 20549 ____________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________ ...
Host Hotels & Resorts(HST) - 2023 Q4 - Earnings Call Transcript
2024-02-22 21:07
Host Hotels & Resorts, Inc. (NASDAQ:HST) Q4 2023 Earnings Conference Call February 22, 2024 10:00 AM ET Company Participants Jaime Marcus – Senior Vice President of Investor Relations Jim Risoleo – President and Chief Executive Officer Sourav Ghosh – Executive Vice President and Chief Financial Officer Conference Call Participants Sean Kelly – Bank of America Smedes Rose – Citi Robin Farley – UBS Bill Crow – Raymond James Michael Bellisario – Baird Duane Pfennigwerth – Evercore ISI Chris Woronka – Deutsche ...
Host Hotels & Resorts(HST) - 2023 Q4 - Earnings Call Presentation
2024-02-22 14:25
(1) If the leverage ratio is greater than 7.0x, then the unsecured interest coverage ratio minimum will decrease to 1.50x. (2) The GAAP ratio is based on net income, while the covenant ratio is based on EBITDA. See subsequent pages for a reconciliation of net income to EBITDA. © Host Hotels & Resorts, Inc. 29 Financial Covenants: Reconciliation of GAAP Leverage Ratio to Credit Facility Leverage Ratio (unaudited, in millions, except ratios) The following tables present the calculation of our leverage ratio u ...
Host Hotels & Resorts(HST) - 2023 Q4 - Annual Results
2024-02-21 21:57
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 2023 Full Year Comparable Hotel RevPAR Growth of 8.1% Exceeded Midpoint of Guidance Returned More Than $700 Million of Capital to Stockholders in 2023 and Announces $0.20 First Quarter Dividend Completed Multi-Year Transformational Reinvestment Programs and Development Projects BETHESDA, MD; February 21, 2024 – Host Hotels & Resorts ...
Host Hotels & Resorts(HST) - 2023 Q3 - Quarterly Report
2023-11-06 16:23
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ____________________________________________________________________________________________________________________________________________________________________________________________ Maryland (Host Hotels & Resorts, Inc.) 53-0085950 Delaware (Host Hotels & Resorts, L.P.) 52-2095412 FORM 10-Q x QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934. For the quarterly period ended September 30, 2023 ...
Host Hotels & Resorts(HST) - 2023 Q3 - Earnings Call Transcript
2023-11-02 21:02
Financial Data and Key Metrics Changes - Comparable hotel RevPAR improved by 1.8% compared to Q3 2022, driven by a 150 basis point increase in occupancy [9] - Adjusted EBITDAre for the quarter was $361 million, including $54 million from business interruption proceeds due to Hurricane Ian, and adjusted FFO per share was $0.41, beating consensus [10] - Comparable hotel EBITDA margin was 26.6%, exceeding 2019 levels by 10 basis points, marking the sixth consecutive quarter of performance above 2019 levels [10][46] Business Line Data and Key Metrics Changes - Comparable hotel RevPAR for October is expected to be approximately $229, a 2.4% improvement over 2022 [11] - Business transient revenue increased approximately 9% compared to Q3 2022, though still down about 16% compared to 2019 [18] - Group room revenues were 10% above Q3 2022, driven by an 8% rate increase, with definite group room nights for 2023 increasing to 4 million [22][38] Market Data and Key Metrics Changes - International inbound air traffic reached 88% of 2019 levels in September, indicating a positive trend for international demand [19] - Group revenue pace is up approximately 20% compared to the same time last year, and up 6.7% compared to 2019 [23] - The company expects full year RevPAR guidance to be impacted by 50 basis points due to the Maui wildfires [12] Company Strategy and Development Direction - The company announced a transformational capital program with Hyatt, involving approximately $550 million to $600 million in investments across six properties [25][27] - The company is focused on portfolio reinvestment to enhance long-term performance and competitive positioning in respective markets [26][32] - The company is optimistic about the state of travel and believes it is well-positioned to outperform in the current economic environment [32] Management's Comments on Operating Environment and Future Outlook - Management remains optimistic about travel demand, citing improvements in group business and leisure rates above 2019 levels [13][15] - The company anticipates a gradual recovery in business transient demand, with room nights improving throughout the year [18] - Management expects the fourth quarter to follow seasonal trends, with potential for slightly positive RevPAR growth despite uncertainties related to Maui [44] Other Important Information - The company has received $208 million of the expected $310 million insurance recovery related to Hurricane Ian, with additional proceeds expected [17] - The company repurchased 6.3 million shares at an average price of $15.90 per share, totaling $100 million for the quarter [53] - A quarterly cash dividend of $0.18 per share was declared, representing a 20% increase over the previous quarter [54] Q&A Session Summary Question: Group bookings pace and market strength - Management noted a 30% increase in group bookings for next year, with strong performance expected in markets like San Diego, Orlando, and D.C. [58] Question: Hyatt Capital program details - Management confirmed that the six hotels involved in the Hyatt program were in need of comprehensive renovations and expect similar returns as seen in the Marriott program [63][64] Question: Business interruption recoveries - Management indicated that approximately $40 million in potential business interruption recoveries could occur next year, with ongoing discussions with insurers [70] Question: Recovery in Maui and fourth quarter guidance - Management explained that recovery efforts in Maui positively impacted Q3 results, but uncertainties remain for Q4 guidance due to the ongoing recovery process [82][84] Question: Urban and business transient demand - Management expressed optimism about the long-term prospects for San Francisco, despite current challenges, and noted a gradual recovery in business transient demand [90][91] Question: Group room nights for next year - Management indicated that 2.6 million group room nights for next year are about 10% down compared to 2019 [99] Question: Potential acquisitions - Management expressed a willingness to be net buyers next year, depending on market conditions and the quality of available assets [103]
Host Hotels & Resorts(HST) - 2023 Q3 - Earnings Call Presentation
2023-11-02 20:51
HYATT REGENCY COCONUT POINT RESORT AND SPA This presentation is not an offer to sell or a solicitation of an offer to buy any securities of the Company. The brands and logos used in this presentation are the trademarks of our managers or their affiliates. The trademarked names and their logos are the property of their respective owners and are being used with the express permission of their owners. None of the owners of these trademarks has any responsibility or liability for any information contained in th ...
Host Hotels & Resorts(HST) - 2023 Q2 - Quarterly Report
2023-08-04 18:09
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, 2023 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 ...
Host Hotels & Resorts(HST) - 2023 Q2 - Earnings Call Transcript
2023-08-03 22:07
Host Hotels & Resorts, Inc. (NASDAQ:HST) Q2 2023 Earnings Conference Call August 3, 2023 1:00 PM ET Company Participants Jaime Marcus - SVP, IR Jim Risoleo - President and CEO Sourav Ghosh - EVP and CFO Conference Call Participants Duane Pfennigwerth - Evercore ISI Aryeh Klein - BMO Capital Markets Anthony Powell - Barclays Smedes Rose - Citi David Katz - Jefferies Michael Bellisario - Baird Bill Crow - Raymond James Tyler Batory - Oppenheimer Chris Woronka - Deutsche Bank Robin Farley - UBS Dori Kesten - ...
Host Hotels & Resorts (HST) Investor Presentation - Slideshow
2023-05-05 20:37
Investor Presentation MAY 2023 This presentation is not an offer to sell or a solicitation of an offer to buy any securities of the Company. Trademarks: The brands and logos used in this presentation are the trademarks of our managers or their affiliates. The trademarked names and their logos are the property of their respective owners and are being used with the express permission of their owners. None of the owners of these trademarks has any responsibility or liability for any information contained in th ...