Host Hotels - HST STOCK NEWS

Host Hotels & Resorts (NASDAQ: HST), the largest lodging real estate investment trust in the US, has announced its third quarter 2024 earnings call scheduled for November 7, 2024, at 10:00 a.m. ET. The company will release its financial results on November 6, 2024, after market close. Investors can access the conference call via USA/Canada Toll Free Number 888-500-3691 or International Toll Number 646-307-1951 using Conference ID 71987.

A simultaneous webcast will be available on the company's website, with a replay accessible until December 7, 2024. Host Hotels & Resorts owns 76 properties in the United States and five internationally, totaling approximately 43,400 rooms. The company also holds non-controlling interests in seven domestic and one international joint ventures.

Host Hotels & Resorts (NASDAQ: HST), the largest lodging real estate investment trust in the United States, has declared a quarterly cash dividend of $0.20 per share. This dividend will be paid on October 15, 2024, to shareholders recorded as of September 30, 2024. The announcement, made on September 12, 2024, demonstrates the company's commitment to providing regular returns to its stockholders.

Host Hotels & Resorts, Inc. (NASDAQ: HST) has announced the pricing of a $700 million offering of 5.500% Senior Notes due 2035 through its operating partnership, Host Hotels & Resorts, L.P. The offering is expected to close on August 12, 2024, with estimated net proceeds of $683 million. The company plans to use the proceeds to repay $525 million of outstanding borrowings under its revolver credit facility, including amounts used for recent hotel acquisitions, and for general corporate purposes. The offering is being made through a shelf registration statement and is managed by major financial institutions.

Host Hotels & Resorts, Inc. (NASDAQ: HST), the largest lodging real estate investment trust in the United States, has released an updated investor presentation for the second quarter of 2024. This presentation, which likely contains key financial results and performance metrics for the company's portfolio of hotels, is now available on the Investor Relations section of the company's official website. Investors and analysts can access this important information to gain insights into Host Hotels & Resorts' recent performance and potential future outlook in the hospitality real estate sector.

Host Hotels & Resorts (NASDAQ: HST) has made two significant acquisitions, enhancing its portfolio with luxury properties. The company acquired the 234-room 1 Hotel Central Park for $265 million, representing an 11.1x EBITDA multiple. This property is expected to be among Host's top-10 assets based on 2024 estimates, with projected RevPAR of $545 and EBITDA per key over $100,000.

Additionally, Host completed the acquisition of The Ritz-Carlton O'ahu, Turtle Bay, a 450-room resort in Hawaii, for approximately $680 million. This acquisition includes a 49-acre land parcel for future development. The deal represents a 16.3x EBITDA multiple based on 2024 estimates, with potential for improvement as the property stabilizes.

These acquisitions total $1.5 billion in 2024, with a blended 13.6x EBITDA multiple, bringing Host closer to its target of $3 billion in acquisitions outlined at its investor day.

Host Hotels & Resorts (NASDAQ: HST) reported Q2 2024 results with revenues of $1,466 million, up 5.2% year-over-year. Net income increased 13.1% to $242 million, while Adjusted EBITDAre rose 6.7% to $476 million. Comparable hotel Total RevPAR grew 0.5% to $368.25, driven by group business improvements. The company acquired 1 Hotel Central Park for $265 million and anticipates closing on The Ritz-Carlton O'ahu, Turtle Bay for $680 million. Host reduced its full-year 2024 guidance due to slower recovery in Maui and moderating leisure demand. The company now expects comparable hotel RevPAR between -1.0% to 1.0% growth and Adjusted EBITDAre of $1,615 to $1,675 million for 2024.

Host Hotels & Resorts, Inc. (NASDAQ: HST), the largest lodging REIT in the U.S., has released its 2024 Corporate Responsibility Report. The report outlines the company's progress towards its 2030 environmental and social targets, aiming for a net positive impact by 2050. Key highlights include:

- Nearly $5 billion in sustainable financing, including $2.45 billion in green bonds
- Over 700 sustainability projects with $23 million expected annual utility savings
- 18 LEED-certified properties and 14 with on-site solar energy systems
- Support for over 200 charities and seven volunteer events
- 46% women in management positions and 33% of promotions from diverse groups
- 98% of employees trained on diversity topics

The report also includes TCFD and SASB indices, and an EEO-1 Report detailing workforce demographics.

Host Hotels & Resorts, the nation's largest lodging real estate investment trust, announced that its board of directors has authorized a regular quarterly cash dividend of $0.20 per share.

This dividend will be payable on July 15, 2024, to stockholders of record as of June 28, 2024.

The announcement underscores the company's ongoing commitment to returning value to its shareholders.

Host Hotels & Resorts (NASDAQ: HST), the largest lodging real estate investment trust in the US, will release its second quarter 2024 financial results on July 31, 2024, after market close. A conference call to discuss these results and the company’s business outlook will be held on August 1, 2024, at 10:00 a.m. ET. The call will be accessible via toll-free and international numbers, and a simultaneous webcast will be available on Host Hotels’ website. A replay of the call will be available until August 31, 2024, with extended access through the website until November 8, 2024. Host Hotels currently owns 74 properties in the US and five internationally, totaling approximately 42,700 rooms, and holds interests in eight joint ventures.