Host Hotels & Resorts, Inc. - $HST STOCK NEWS

Host Hotels & Resorts, Inc. (NASDAQ: HST) has released an updated investor presentation for the first quarter of 2024, showcasing their results. As the largest lodging real estate investment trust in the nation, the company aims to provide transparency and insights to investors through this presentation.

Host Hotels & Resorts, Inc. has acquired the fee simple interest in a two-hotel complex in Nashville, comprising the 1 Hotel Nashville and Embassy Suites by Hilton Nashville Downtown, for approximately $530 million. The acquisition price represents a 12.6x EBITDA multiple and a cap rate of about 7.4% on the Property’s 2024 estimated results. The Property is expected to be among Host’s top-25 assets with projected RevPAR of $275, Total RevPAR of $435, and EBITDA per key of $58,550. The acquisition enhances the quality of Host's portfolio, providing significant growth potential and value creation for stockholders.

Host Hotels & Resorts, Inc. (NASDAQ: HST) reported Q1 2024 results with revenues of $1,471 million, net income of $272 million, and Adjusted EBITDAre of $483 million. The company acquired 1 Hotel Nashville and Embassy Suites by Hilton Nashville Downtown, maintaining strong balance sheet. Despite challenging comparisons, Host delivered growth in Total RevPAR, but saw a decline in comparable hotel RevPAR. The impact of Maui wildfires, unseasonable weather, and renovation delays affected RevPAR negatively. The company maintains a robust balance sheet, completes several transactions, and provides an outlook for 2024 with a focus on steady demand, gradual recovery, and improvement in group business.

Host Hotels & Resorts, Inc. (HST) will report first quarter 2024 financial results on May 1, 2024. The Company, the nation's largest lodging real estate investment trust, will discuss its results and business outlook on May 2, 2024, through a conference call and webcast.

Host Hotels & Resorts, Inc. (HST) releases an investor presentation for Q4 2023 results, showcasing its position as the largest lodging real estate investment trust in the nation.

Host Hotels & Resorts, Inc. reported strong full-year comparable hotel RevPAR growth of 8.1%, exceeding guidance. The company returned over $700 million to stockholders and announced a $0.20 first-quarter dividend. Despite net income declining by 10.1%, EBITDAre and Adjusted EBITDAre increased by 8.5% and 8.7% respectively. The company completed transformative reinvestment programs, declared dividends, and repurchased $181 million in common stock in 2023. The outlook for 2024 includes a 2.5% to 5.5% growth in comparable hotel RevPAR.

Host Hotels & Resorts, Inc. (NASDAQ: HST) will report its fourth quarter 2023 financial results on February 21, 2024, after the market close. The company, the nation’s largest lodging real estate investment trust, will hold a conference call to discuss the results and business outlook on February 22, 2024, at 10:00 a.m. ET. The call will be available via phone and webcast, with replay options available until May 3, 2024.

Host Hotels & Resorts, Inc. (NASDAQ: HST) has been named to the Dow Jones Sustainability World Index (DJSI World) for the fifth year in a row and included in the DJSI North America for the seventh consecutive year, showcasing its global sustainability leadership. The company's commitment to corporate responsibility, environmental and social performance targets, diversity, equity, inclusion, and belonging (DEIB) strategy, and gender diversity on the Board of Directors has been recognized and celebrated.

Host Hotels & Resorts, Inc. (NASDAQ: HST) returns to pre-pandemic quarterly payout level, authorizing a regular quarterly cash dividend of $0.20 per share, an 11% increase over the prior quarter. Additionally, the Company announced a special dividend of $0.25 per share, bringing the total dividends declared for the year to $0.90 per share. The dividend is payable on January 16, 2024, to stockholders of record on December 29, 2023.