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Host Hotels Q1 FFO & Revenues Top Estimates, Hotel RevPAR Rises
HSTHost Hotels & Resorts(HST) ZACKS·2025-05-01 18:55

Core Viewpoint - Host Hotels & Resorts, Inc. (HST) reported strong first-quarter results, with adjusted funds from operations (AFFO) per share of 64 cents, exceeding expectations and reflecting a year-over-year increase of 4.9% [1][2] Financial Performance - Total revenues for Host Hotels reached 1.59billion,surpassingtheZacksConsensusEstimateof1.59 billion, surpassing the Zacks Consensus Estimate of 1.54 billion, and showing an 8.4% increase year-over-year [2] - Comparable hotel RevPAR was 240.18,up7240.18, up 7% from the previous year, primarily due to increased room rates [3] - Comparable hotel EBITDA was 504 million, reflecting a 5.9% increase from the prior year, driven by improved rates [3] Operational Metrics - The average room rate increased to 345.86from345.86 from 327.11 year-over-year [3] - Comparable average occupancy percentage rose to 69.4%, an increase of 80 basis points from the prior year [4] - Transient and group room nights declined by 0.8% and 0.6%, respectively, while contract business increased by 11.4% [4] Balance Sheet and Liquidity - As of March 31, 2025, Host Hotels had cash and cash equivalents of 428million,downfrom428 million, down from 554 million at the end of 2024 [5] - Total liquidity stood at 2.2billion,including2.2 billion, including 264 million in FF&E escrow reserves and 1.5billionavailableunderthecreditfacility[5]ShareRepurchaseandCapitalExpenditure−Inthefirstquarter,thecompanyrepurchased6.3millionsharesatanaveragepriceof1.5 billion available under the credit facility [5] Share Repurchase and Capital Expenditure - In the first quarter, the company repurchased 6.3 million shares at an average price of 15.79, totaling 100million,withapproximately100 million, with approximately 585 million remaining under the repurchase program [6] - Capital expenditures totaled 146million,withallocationsforreturnoninvestmentprojects,renewalandreplacementexpenditures,andpropertydamagereconstruction[7]2025Outlook−HostHotelsreviseditsfull−yearAFFOpershareguidancetoarangeof146 million, with allocations for return on investment projects, renewal and replacement expenditures, and property damage reconstruction [7] 2025 Outlook - Host Hotels revised its full-year AFFO per share guidance to a range of 1.88-1.97,higherthanthepreviousguidanceandtheZacksConsensusEstimateof1.97, higher than the previous guidance and the Zacks Consensus Estimate of 1.84 [8] - Expected comparable hotel RevPAR is projected between 221−221-225 million, with adjusted EBITDAre estimated between 1.61billionand1.61 billion and 1.68 billion [8] - Total capital expenditure for 2025 is anticipated to be in the range of 580−580-670 million [9]