Host Hotels Stock Price, News & Analysis

Host Hotels & Resorts, Inc. (HST) reported an 80% revenue decline in Q4 2020, with revenues of $267 million compared to $1.3 billion in Q4 2019. The full year 2020 revenue fell 70.4% to $1.6 billion. The company recorded a net loss of $66 million in Q4, improving from a loss of $316 million in Q3. Despite challenges, booking activities have shown signs of recovery. Host Hotels ended the quarter with $2.5 billion in liquidity and aims for profitability by H2 2021, boosted by capital investments and operational adjustments.

Host Hotels & Resorts, Inc. (HST) has completed a second amendment to its $1.5 billion revolving credit facility and two $500 million term loans. The amendment provides continued covenant relief until the first quarter of 2022 while modifying financial covenants, easing compliance requirements, and allowing for $2 billion in asset acquisitions. The company retains the ability to reinvest proceeds from asset sales and fund $450 million in capital expenditures. Importantly, no pricing increases were incurred through this amendment, maintaining a strong liquidity position and the unsecured status of assets.

Host Hotels & Resorts, Inc. (NASDAQ: HST) will report its fourth quarter and full year 2020 financial results on February 18, 2021, after market close. A conference call discussing these results and the business outlook for 2021 is scheduled for February 19, 2021, at 11:00 a.m. ET. The company owns 74 properties in the U.S. and five internationally, totaling around 46,100 rooms. They have partnerships with premium brands such as Marriott and Hilton. For further details, visit www.hosthotels.com.

BETHESDA, Md., Nov. 09, 2020 (GLOBE NEWSWIRE) -- Host Hotels & Resorts, Inc. (NASDAQ: HST) has released its 2020 Corporate Responsibility (CR) Report showcasing their dedication to environmental, social, and governance (ESG) initiatives. The report introduces new targets for social responsibility by 2025 and highlights achievements like a newly approved emissions reduction target and the issuance of the first green bond in the lodging industry. The company emphasizes its response to COVID-19, maintaining its commitment to sustainable investments amidst challenges.

Host Hotels & Resorts (HST) reported third-quarter results, revealing an 84.3% drop in revenues to $198 million, and a net loss of $316 million. Despite these challenges, the company reopened 20 hotels and saw a 680 basis point increase in average occupancy from July to September. Subsequent sales of the Newport Beach Marriott for $216 million and adjacent land for $66 million improved liquidity. With $2.4 billion in cash, the company maintains strong financial flexibility despite operational disruptions from COVID-19, positioning itself for recovery with ongoing cost-saving measures.

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.