Host Hotels Stock Price, News & Analysis

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.

Host Hotels & Resorts announced an agreement to acquire Turtle Bay Resort in Oahu, Hawaii for $680 million. The deal includes a 49-acre land parcel and is expected to close by late July 2024. Turtle Bay Resort recently underwent a significant renovation and will be rebranded as The Ritz-Carlton. The acquisition is projected to yield a 16.3x EBITDA multiple and a 5.3% cap rate on 2024 estimates. Post-rebranding, the resort could be a top performer for Host, with expected RevPAR of $570 and EBITDA per key of $86,000. Host aims to stabilize EBITDA multiples between 10-12x by 2027-2029.

Host Hotels & Resorts, Inc. announced the pricing of $600 million of 5.700% Senior Notes due 2034, a Green Bond, by Host Hotels & Resorts, L.P. The Offering is expected to close on May 10, 2024, with estimated net proceeds of approximately $584 million. The proceeds will be used to finance eligible green projects and repay outstanding borrowings.

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.