On May 1, 2024, Host Hotels & Resorts, Inc. (NASDAQ: HST), the nation's largest lodging real estate investment trust (REIT), reported its financial results for the first quarter ended March 31, 2024. The company announced a 6.5% increase in revenues to $1.471 billion compared to $1.381 billion in the same period of the previous year. However, net income saw a decrease of 6.5% to $272 million from $291 million in Q1 2023. The company experienced a slight 0.5% growth in Comparable hotel Total RevPAR, but Comparable hotel RevPAR decreased by 1.2%. Adjusted EBITDAre improved by 8.8% to $483 million. The diluted earnings per common share were down 5% to $0.38. Host Hotels & Resorts also announced the acquisition of 1 Hotel Nashville and Embassy Suites by Hilton Nashville Downtown, which was completed after the quarter ended, for a total purchase...Show More

On May 1, 2024, Host Hotels & Resorts, Inc. (NASDAQ: HST), the nation's largest lodging real estate investment trust (REIT), reported its financial results for the first quarter ended March 31, 2024. The company announced a 6.5% increase in revenues to $1.471 billion compared to $1.381 billion in the same period of the previous year. However, net income saw a decrease of 6.5% to $272 million from $291 million in Q1 2023. The company experienced a slight 0.5% growth in Comparable hotel Total RevPAR, but Comparable hotel RevPAR decreased by 1.2%. Adjusted EBITDAre improved by 8.8% to $483 million. The diluted earnings per common share were down 5% to $0.38. Host Hotels & Resorts also announced the acquisition of 1 Hotel Nashville and Embassy Suites by Hilton Nashville Downtown, which was completed after the quarter ended, for a total purchase price of $530 million. The company's balance sheet remains robust with total assets of $11.8 billion and total available liquidity of approximately $1.7 billion after adjusting for recent transactions. The company paid a first quarter common stock cash dividend of $0.20 per share on April 15, 2024. The report also provided an update on the impacts of the Maui wildfires and the company's outlook for the remainder of 2024, including expected RevPAR growth and capital expenditures.