Host Hotels & Resorts Inc.
HSTFinancial Snapshot
ticker: HST step: 04 generated: 2026-05-13 source: quick-research
Host Hotels & Resorts, Inc. (HST) — Financial Snapshot
Income Statement Summary
| Metric | FY2022 | FY2023 | FY2024 | YoY |
|---|---|---|---|---|
| Revenue | ~$4.91B | $5.31B | $5.68B | +7.0% |
| Adj. EBITDA Margin | ~27% | ~29% | ~29% | |
| Adjusted EBITDAre | ~$1.3B | ~$1.63B | $1.66B | +1.7% |
| GAAP Net Income | ~$450M | ~$752M | $707M | -6.0% |
| RevPAR (comp. hotels) | ~$175 | ~$230 | ~$232 | +0.9% |
RevPAR (Revenue Per Available Room) is the primary operating metric for lodging REITs. Full year 2024 comparable hotel RevPAR grew 0.9% — modest vs. post-COVID surge years. FY2022 was a strong COVID recovery year.
Cash Flow & Balance Sheet (FY2024)
| Metric | Value |
|---|---|
| Adjusted EBITDAre | $1.66B |
| Comparable Hotel EBITDA | $1.62B (margin 29.2%) |
| Annual Dividend | ~$0.80/share + special dividends |
| Total Debt | ~$4.0B |
| Net Debt / EBITDA | ~2.4x (very low for REIT sector) |
| Cash | ~$1.6B |
| Total RevPAR (2024) | $355.88 (+2.1% YoY) |
Host's 2.4x Net Debt/EBITDA is exceptionally conservative for a REIT — well below the 5–8x typical of other real estate REITs. This balance sheet strength enables both opportunistic acquisitions and significant capital returns.
Key Ratios (approximate)
- Price/Adjusted EBITDAre: ~6.5x | Dividend Yield: ~4.5% + special dividends
- FY2025 RevPAR Growth: +3.8% (full year); Total RevPAR: +4.2%
- Q1 2026 EPS: $0.67 (vs. $0.3575 estimate — 87% beat)
- Group booking pace for 2026: +16% (total group revenue pace +5%)
Growth Profile
Host recovered strongly from COVID: FY2022 was a surge year (post-lockdown pent-up demand), FY2023 continued recovery (+8.2% revenue), and FY2024 moderated (+7.0%) as the comparison period normalized. FY2025 showed positive RevPAR growth of 3.8% despite tariff headwinds and international travel softness (-8.7% projected international arrivals to the U.S.). Q1 2026 delivered an 87% EPS beat with RevPAR growth of 4.4%, driven by resilient affluent leisure demand. Group booking pace for 2026 is up 16%, with World Cup–related event demand providing a tailwind.
Forward Estimates
- FY2026 Comparable Hotel RevPAR Growth: guidance raised after Q1 2026 beat; +3–5% expected
- Group revenue pace: +5% ahead for 2026; strong corporate group recovery
- Wage/labor costs: +5% in 2026 (vs. +6% in 2025) — moderating headwind
- Renovation ROI: 21 stabilized hotels averaged +8.7 RevPAR Index points (vs. 3–5 target)
- International travel risk: NYC and Seattle most exposed to -8.7% projected decline in U.S. international arrivals
Deeper Financial Analysis
The fundamental tier adds 9 additional research dimensions for $HST.