Host Hotels & Resorts, Inc. (NASDAQ: HST), the nation's largest lodging real estate investment trust (REIT), reported its financial results for the second quarter ended June 30, 2024, on July 31, 2024. The company announced a 5.2% increase in revenues to $1.466 billion compared to $1.393 billion in the same period in 2023. Comparable hotel revenues saw a marginal increase of 0.4%. Notably, net income rose by 13.1% to $242 million, and Adjusted EBITDAre improved by 6.7% to $476 million. Diluted earnings per common share increased by 17.2% to $0.34. The company also reported acquisitions of 1 Hotel Central Park and The Ritz-Carlton O’ahu, Turtle Bay, and repurchased $50 million of common stock. The report included detailed financial and operating data, highlighting a 0.5% growth in comparable hotel Total RevPAR and a slight 0.1% increase in comparable...Show More

Host Hotels & Resorts, Inc. (NASDAQ: HST), the nation's largest lodging real estate investment trust (REIT), reported its financial results for the second quarter ended June 30, 2024, on July 31, 2024. The company announced a 5.2% increase in revenues to $1.466 billion compared to $1.393 billion in the same period in 2023. Comparable hotel revenues saw a marginal increase of 0.4%. Notably, net income rose by 13.1% to $242 million, and Adjusted EBITDAre improved by 6.7% to $476 million. Diluted earnings per common share increased by 17.2% to $0.34. The company also reported acquisitions of 1 Hotel Central Park and The Ritz-Carlton O’ahu, Turtle Bay, and repurchased $50 million of common stock. The report included detailed financial and operating data, highlighting a 0.5% growth in comparable hotel Total RevPAR and a slight 0.1% increase in comparable hotel RevPAR. The company's balance sheet remains robust with total assets of $12.8 billion and total available liquidity of approximately $1.4 billion after accounting for recent transactions. The second quarter dividend was paid at $0.20 per share. The company's hotel business mix showed a 2.8% increase in group room nights and a 7.7% increase in group rooms revenues compared to 2023. Capital expenditures for the year are forecasted between $500 million to $600 million, with full-year guidance reflecting a slower recovery from the Maui wildfires and moderating leisure transient demand.