Core Viewpoint - Host Hotels & Resorts, Inc. has announced the pricing of a $500 million offering of 5.700% Senior Notes due 2032, which are senior unsecured obligations of Host L.P. [1] Group 1: Offering Details - The offering is expected to close on May 20, 2025, subject to customary closing conditions [1] - Estimated net proceeds from the offering are expected to be approximately $490 million after deducting fees and expenses [2] - The proceeds will be used to redeem all outstanding Series E senior notes due 2025, amounting to $500 million [2] Group 2: Underwriters - The joint book-running managers for the offering include Morgan Stanley & Co. LLC, BofA Securities, Inc., J.P. Morgan Securities LLC, Wells Fargo Securities, LLC, Goldman Sachs & Co. LLC, and Truist Securities, Inc. [3] Group 3: Regulatory Information - The offering is made pursuant to an effective shelf registration statement and accompanying prospectus filed with the SEC on April 9, 2024, and a preliminary prospectus supplement filed on May 6, 2025 [4]

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 $1.59 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, 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 $345.86 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 $428 million, down from $554 million at the end of 2024 [5] - Total liquidity stood at $2.2 billion, including $264 million in FF&E escrow reserves and $1.5 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 $100 million, with approximately $585 million remaining under the repurchase program [6] - Capital expenditures totaled $146 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, higher than the previous guidance and the Zacks Consensus Estimate of $1.84 [8] - Expected comparable hotel RevPAR is projected between $221-$225 million, with adjusted EBITDAre estimated between $1.61 billion and $1.68 billion [8] - Total capital expenditure for 2025 is anticipated to be in the range of $580-$670 million [9]

About Park and Safe Harbor Disclosure About Park Hotels & Resorts Inc. Park (NYSE: PK) is one of the largest publicly-traded lodging real estate investment trusts ("REIT") with a diverse portfolio of iconic and market-leading hotels and resorts with significant underlying real estate value. Park's portfolio currently consists of 41 premium-branded hotels and resorts with over 25,000 rooms primarily located in prime city center and resort locations. Visit www.pkhotelsandresorts.com for more information. Forw ...

Financial Performance & Outlook - Park Hotels & Resorts reported a net income attributable to stockholders of $97 million for the year ended December 31, 2023[13] - Adjusted FFO attributable to stockholders was $439 million, or $2.04 per diluted share for the year ended December 31, 2023[22] - The company anticipates a full-year 2024 net income between $146 million and $186 million[31] - Adjusted EBITDA for full-year 2024 is projected to be between $645 million and $685 million[31] - Adjusted FFO per share – Diluted for 2024 is expected to be between $2.02 and $2.22[31] Portfolio Performance - Comparable RevPAR increased by 49% for the year ended December 31, 2023[46] - Comparable Hotel Adjusted EBITDA reached $680 million for the year ended December 31, 2023[20] - Comparable Hotel Revenues totaled $2441 million for the year ended December 31, 2023[20] - Comparable Hotel Adjusted EBITDA margin was 278% for the year ended December 31, 2023[20] Capital Structure - As of December 31, 2023, the company's total debt stood at $3765 million[13] - The company has approximately $950 million of available capacity under the Revolver[101] - Net debt to full-year Comparable Adjusted EBITDA ratio is 515x[27]