Host Hotels & Resorts, a leading lodging real estate investment trust, has reported its financial results for the year ended December 31, 2023. The company saw a total revenue increase of 8.2% to $5.311 billion compared to $4.907 billion in the previous year. Net income rose by 17.0% to $752 million, and operating profit grew by 6.7% to $827 million. The diluted earnings per common share increased by 18.2% to $1.04. The company's EBITDAre, a key performance indicator, improved by 8.5% to $1.632 billion, while Adjusted EBITDAre saw an 8.7% increase to $1.629 billion. NAREIT Funds From Operations (FFO) per diluted share rose by 7.3% to $1.92. The company's business development was marked by the acquisition of Four Seasons Resorts and Residences Jackson Hole and investments in a joint venture with Noble Investment Group. Host Hotels...Show More

Host Hotels & Resorts, a leading lodging real estate investment trust, has reported its financial results for the year ended December 31, 2023. The company saw a total revenue increase of 8.2% to $5.311 billion compared to $4.907 billion in the previous year. Net income rose by 17.0% to $752 million, and operating profit grew by 6.7% to $827 million. The diluted earnings per common share increased by 18.2% to $1.04. The company's EBITDAre, a key performance indicator, improved by 8.5% to $1.632 billion, while Adjusted EBITDAre saw an 8.7% increase to $1.629 billion. NAREIT Funds From Operations (FFO) per diluted share rose by 7.3% to $1.92. The company's business development was marked by the acquisition of Four Seasons Resorts and Residences Jackson Hole and investments in a joint venture with Noble Investment Group. Host Hotels & Resorts also completed significant multi-year initiatives, including redefining the hotel operating model and gaining market share through comprehensive renovations. Looking ahead, the company plans to continue its disciplined approach to capital allocation, with a focus on acquiring upper-upscale and luxury properties and investing in its portfolio. The company expects to spend $500 million to $605 million on capital expenditures in 2024, with a portion allocated to ROI projects. Host Hotels & Resorts remains optimistic about the lodging industry's momentum and anticipates comparable hotel RevPAR growth of 2.5% to 5.5% for the full year 2024.