Host Hotels Stock Price, News & Analysis

Host Hotels & Resorts (ticker: HST) will transfer its stock exchange listing from the NYSE to the Nasdaq Global Select Market, effective November 2, 2020, with the final NYSE trading day on October 30, 2020. CEO James F. Risoleo expressed excitement about the advantages of partnering with Nasdaq, including cost-effective listing and enhanced investor relations solutions. Host Hotels is the largest lodging REIT in the U.S., owning 75 properties domestically and five internationally, with approximately 46,700 rooms.

Host Hotels & Resorts, Inc. (NYSE: HST) will report its third quarter 2020 financial results on November 4, 2020, post market close. A conference call to discuss these results and future business outlook is scheduled for November 5, 2020, at 12:00 p.m. ET. Interested parties can access the call via toll-free numbers or through a webcast on the company's website. Host Hotels is the largest lodging real estate investment trust, owning 75 properties in the U.S. and 5 internationally, totaling approximately 46,700 rooms.

Host Hotels & Resorts, Inc. (NYSE: HST) has appointed Joseph Ottinger as senior vice president and corporate controller effective October 5, 2020, succeeding Brian Macnamara, who will retire at the end of the year. Ottinger, a long-time employee, brings extensive financial expertise. Additionally, Tejal Engman has been promoted to senior vice president of investor relations. CEO James F. Risoleo praised both for their contributions and ability to navigate current challenges while ensuring shareholder value.

On September 15, 2020, Host Hotels & Resorts (NYSE: HST) reported its preliminary hotel operating results for July and August 2020. The company has reopened 19 hotels, with 70 out of 80 consolidated hotels now operating, representing 88% of total room count. RevPAR increased by 10.4% in July and 33.7% in August due to rising leisure demand. However, Host expects $60 to $70 million in severance expenses during the year's second half. The company successfully issued $750 million in senior notes, enhancing liquidity to approximately $2.2 billion, as it prepares for a slow recovery.

Host Hotels & Resorts, Inc. (NYSE: HST) announced the pricing of a $150 million offering of 3.50% Senior Notes due 2030, following an earlier issuance of $600 million in the same series. The offering is projected to close on September 3, 2020, with estimated net proceeds around $146 million. These funds will be allocated to LEED-certified green projects and general corporate purposes, including debt repurchases. The offering is conducted under an effective shelf registration statement and is backed by major financial institutions.

On August 18, 2020, Host Hotels & Resorts, Inc. (HST) announced the expiration of its Tender Offer for its 4.750% Series C Senior Notes due 2023, which ended on August 17, 2020. Approximately $363.7 million, or 81% of the notes outstanding, were validly tendered. Host L.P. plans to accept all valid tenders and will pay $1,070 per $1,000 principal amount within three business days. The payment will be funded by proceeds from a recent offering of $600 million in new senior notes. The company owns a portfolio of 80 luxury and upper-upscale hotels, totaling about 46,700 rooms.

Host Hotels & Resorts, L.P., a subsidiary of Host Hotels & Resorts, has priced its offering of $600 million in 3.50% Senior Notes due 2030. The offering is set to close on August 20, 2020, pending customary conditions. Estimated net proceeds are approximately $588 million, intended for eligible green projects and to repurchase existing senior notes. The offering is managed by major financial institutions, including J.P. Morgan and Goldman Sachs. The press release includes forward-looking statements about ongoing transactions and risks associated with the COVID-19 pandemic.

Host Hotels & Resorts, Inc. (HST) announced a cash tender offer for its outstanding 4.750% Series C Senior Notes due 2023, totaling $450 million. Holders of the Notes can receive $1,070 per $1,000 principal amount, plus accrued interest, if they tender by the August 17, 2020 deadline. The offer is contingent upon Host L.P. raising at least $500 million through new senior notes. The payment date is expected to be August 20, 2020.

Host Hotels & Resorts (HST) reported a significant decline in revenues, posting $103 million in Q2 2020, a 93.1% drop compared to $1.48 billion in Q2 2019. The company incurred a net loss of $356 million, down from a profit of $290 million a year ago. Despite these challenges, Host successfully reopened 19 hotels and improved average occupancy by 380 basis points. To maintain liquidity, it amended a $2.5 billion credit agreement and suspended dividends and stock buybacks. The outlook remains uncertain due to COVID-19 impact on the travel industry.