Welcome to our dedicated page for Host Hotels news (Ticker: HST), a resource for investors and traders seeking the latest updates and insights on Host Hotels stock.
Host Hotels & Resorts, Inc. (NASDAQ: HST) is an S&P 500 lodging real estate investment trust that describes itself as the nation’s largest lodging REIT and one of the largest owners of luxury and upper-upscale hotels. This news page aggregates the company’s press releases and market updates, giving investors and observers a single place to follow its hotel portfolio performance, capital decisions and corporate developments.
Readers can find detailed announcements on quarterly and annual financial results, where Host Hotels & Resorts reports metrics such as comparable hotel RevPAR, Total RevPAR, comparable hotel EBITDA and funds from operations. Earnings releases often include commentary on portfolio performance, demand trends across transient, group and contract business, and updates to full-year guidance.
The company also issues news about dividends, including regular quarterly cash dividends and any special dividends declared by its board of directors. Capital markets activity is another recurring topic, with releases describing offerings of senior notes by Host Hotels & Resorts, L.P., the use of proceeds and the redemption of existing debt. Portfolio activity, such as the sale of specific hotel properties, transformational capital programs with major hotel brands and reinvestment plans, is covered in detail.
In addition, Host Hotels & Resorts publishes Corporate Responsibility Report updates that outline its environmental and social targets, sustainability projects, green financing, community investments and employee-focused initiatives. The company also uses news releases to address topics such as unsolicited mini-tender offers for its operating partnership units and to provide investor presentation updates. For anyone tracking HST, this page offers an organized view of the company’s official communications over time.
Jaws Mustang Acquisition (JWSM) has suspended its previously announced hospitality business combination plans. The company had entered into a non-binding letter of intent with Starwood Capital Group on March 8, 2024, regarding a portfolio of hotels including the 1 Hotel Central Park in Manhattan. However, Starwood Capital accepted an offer from Host Hotels & Resorts (HST) to purchase the 1 Hotel Central Park, with the acquisition completed on July 31, 2024. JWSM has been unable to identify suitable replacement hotel properties for the portfolio and has consequently suspended the business combination pursuit.
The National Association of Corporate Directors (NACD) has announced the honorees of the 2024 NACD Directorship 100™, recognizing leading corporate directors and governance experts. The awards include the B. Kenneth West Lifetime Achievement Award, given to Michael Daniels and Maggie Wilderotter for their notable achievements in board careers.
The Director of the Year recipients are:
- Public Company: Herman Bulls (Fluence Energy, USAA, JLL, and others)
- Private Company: Greg Cessna (Maclean Fogg, Hillandale, Henderson Brothers)
- Nonprofit: Hon. Robert A. McDonald (Elizabeth Dole Foundation, West Point Association of Graduates)
The honorees will be recognized at the 2024 NACD Directorship 100 Awards Gala on December 16 in New York City and featured in NACD Directorship® magazine.
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.