On November 6, 2024, Host Hotels & Resorts, Inc. (NASDAQ: HST), the nation's largest lodging real estate investment trust (REIT), reported its financial results for the third quarter ended September 30, 2024. The company announced a Total RevPAR growth of 3.1% over the same quarter in the previous year, driven by strong group demand and improvements in food and beverage revenues. Despite the impact of hurricanes in Florida, the company maintained its full-year guidance at the midpoint. During the quarter, Host Hotels & Resorts repurchased $57 million of common stock and completed the issuance of $700 million of Series L senior notes at 5.5%. The company's balance sheet showed total assets of $13.1 billion, a debt balance of $5.1 billion, and total available liquidity of approximately $2.3 billion. The third...Show More

On November 6, 2024, Host Hotels & Resorts, Inc. (NASDAQ: HST), the nation's largest lodging real estate investment trust (REIT), reported its financial results for the third quarter ended September 30, 2024. The company announced a Total RevPAR growth of 3.1% over the same quarter in the previous year, driven by strong group demand and improvements in food and beverage revenues. Despite the impact of hurricanes in Florida, the company maintained its full-year guidance at the midpoint. During the quarter, Host Hotels & Resorts repurchased $57 million of common stock and completed the issuance of $700 million of Series L senior notes at 5.5%. The company's balance sheet showed total assets of $13.1 billion, a debt balance of $5.1 billion, and total available liquidity of approximately $2.3 billion. The third quarter common stock cash dividend was paid at $0.20 per share. The company's hotel business mix for the year-to-date included approximately 61% transient, 35% group, and 4% contract business. Capital expenditures for the year were forecasted between $485 million to $580 million. The full-year 2024 guidance anticipates a comparable hotel Total RevPAR of $353, representing a 1.2% increase over 2023, and a net income of $687 million.