Financial Performance - For the three months ended June 30, 2025, total revenues were $672 million, compared to $686 million in 2024[14] - Net loss attributable to stockholders for the three months ended June 30, 2025 was $5 million, compared to net income of $64 million in 2024[14] - Adjusted EBITDA for the three months ended June 30, 2025 was $183 million, compared to $193 million in 2024[18] - For the six months ended June 30, 2025, total revenues were $1302 million, compared to $1325 million in 2024[14] - Net loss attributable to stockholders for the six months ended June 30, 2025 was $62 million, compared to net income of $92 million in 2024[14] - Adjusted EBITDA for the six months ended June 30, 2025 was $327 million, compared to $355 million in 2024[18] Portfolio Metrics - As of July 31, 2025, Park's portfolio consisted of 39 hotels with approximately 24,666 rooms[3] - The total comparable portfolio includes 36 hotels with 22,395 rooms[46] - Comparable Hotel Adjusted EBITDA was $191 million for the three months ended June 30, 2025, a decrease of 32% compared to $197 million in 2024[20] - Comparable Hotel Revenues were $645 million for the three months ended June 30, 2025, a decrease of 07% compared to $650 million in 2024[20] Outlook - The company expects full-year 2025 Comparable RevPAR change vs 2024 to be between -20% and 00%[32] - The company expects full-year 2025 Adjusted FFO per share – Diluted to be between $182 and $208[32]

Core Insights - Host Hotels & Resorts, Inc. reported a strong operational performance with a 4.2% growth in comparable hotel Total RevPAR and a 3.0% increase in comparable hotel RevPAR for Q2 2025, leading to an increase in full-year guidance [1][5][12] - The company completed the sale of The Westin Cincinnati for $60 million, which is part of its ongoing portfolio management strategy [1][5] - The company has repurchased $105 million of common stock and continues to maintain a robust balance sheet with total assets of $13.0 billion and a debt balance of $5.1 billion [5][6][7] Financial Performance - Total revenues for Q2 2025 reached $1,586 million, an 8.2% increase from $1,466 million in Q2 2024, while year-to-date revenues were $3,180 million, up 8.3% from $2,937 million [3][5] - Net income for Q2 2025 was $225 million, a decrease of 7.0% compared to $242 million in Q2 2024, with year-to-date net income at $476 million, down 7.4% from $514 million [3][5] - Adjusted EBITDAre for Q2 2025 was $496 million, a 3.1% increase from $481 million in Q2 2024, and year-to-date Adjusted EBITDAre was $1,010 million, exceeding 2024 by 4.1% [3][5] Operational Highlights - Comparable hotel Total RevPAR for Q2 2025 was $400.91, reflecting a 4.2% increase year-over-year, driven by strong transient demand and improvements in food & beverage revenues [5][10] - Comparable hotel RevPAR for Q2 2025 was $239.64, up 3.0% from the previous year, primarily due to higher room rates and recovering leisure demand in Maui [5][10] - The company anticipates a decline in operating profit margin and comparable hotel EBITDA margin due to rising wage costs and reduced business interruption proceeds compared to 2024 [12][13] Guidance and Outlook - The company has raised its 2025 guidance for comparable hotel RevPAR growth to a range of 1.5% to 2.5% and Total RevPAR growth to 2.0% to 3.0% over 2024 [1][12] - The guidance reflects expected year-over-year RevPAR decline in Q3 2025, with moderate growth anticipated in Q4 2025 [12][13] - The company estimates that for every 100-basis point change in RevPAR, there would be an expected $32 million to $37 million change in both net income and Adjusted EBITDAre [12][13] Capital Expenditures - Year-to-date capital expenditures through Q2 2025 totaled $298 million, with a full-year forecast ranging from $590 million to $660 million [11] - The company plans to invest in ROI projects and renewals and replacements, with a focus on the Hyatt Transformational Capital Program [11]

Core Insights - Park Hotels & Resorts, Inc. has sold the 316-room Hyatt Centric Fisherman's Wharf in San Francisco for $80 million, reflecting a multiple of 64.0 times the hotel's 2024 EBITDA [1] - The company aims to dispose of $300 million to $400 million of non-core hotel assets by 2025, enhancing its portfolio quality and financial flexibility [2] - Since 2017, Park Hotels has sold 46 hotels for over $3 billion, focusing on capital allocation to unlock value and improve shareholder returns [3] Financial Performance - The recent sale proceeds will be used for ongoing ROI projects and general corporate purposes [1] - Over the past three months, Park Hotels' shares have declined by 17.3%, compared to a 2.5% decline in the industry [4] Strategic Focus - The company emphasizes prudent capital management and aims to optimize the use of proceeds from asset dispositions [4] - Park Hotels is focused on development activities to enhance long-term growth [4]

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 ...

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 43 premium-branded hotels and resorts with over 26,000 rooms primarily located in prime city center and resort locations. Visit www.pkhotelsandresorts.com for more information. Forw ...