Host Hotels & Resorts(US:HST)2023-05-05 20:37Financial Performance & Outlook - Q1 2023 Comparable Hotel EBITDA reached $439 million, a 44% increase compared to Q1 2022 and an 18% increase compared to Q1 2019[297] - The company forecasts full year 2023 Comparable Hotel Total RevPAR to be between $343 and $352, representing a 7.7% to 10.5% increase compared to 2022[300] - Full year 2023 net income is projected to be between $713 million and $793 million[67] - The company projects full year 2023 Comparable Hotel EBITDA to be between $1.532 billion and $1.609 billion, a 0.8% to 5.9% increase compared to 2022[67] Portfolio & Capital Allocation - The company has $2.3 billion in total available liquidity as of March 31, 2023, including approximately $203 million of FF&E reserves and $1.5 billion available under the credit facility[308] - From 2018 to 2023, the company disposed of assets worth $5.0 billion at an EBITDA multiple of 17x and acquired assets worth $3.5 billion at an EBITDA multiple of 14x[318] - The company is targeting $290 million to $365 million of incremental future stabilized EBITDA on a 2019 base of $1.4 billion through strategic objectives and acquisitions[328] Strategic Initiatives - The company aims to achieve 3-5 points of RevPAR index share gains at 24 renovated assets[334] - The company is investing in ROI development projects, targeting low-to-mid teens cash-on-cash returns[334] - The company is implementing a strategy to redefine the operating model, targeting $100 million to $150 million in cost reductions[334] Corporate Responsibility - The company has raised $1.85 billion through green bond issuances to invest in sustainability ROI projects and green building certifications[458] - The company is working towards a 55% reduction in greenhouse gas emissions per square foot[36]