Host Hotels & Resorts reported Q2 2024 revenues of $1.47B, up 5.2% YoY, with net income rising 13.1% to $242M. Comparable hotel RevPAR increased marginally by 0.1% to $224.29, while Total RevPAR grew 0.5% to $368.25. The company's operating profit margin improved 200 basis points to 19.9%, driven by $53M in insurance settlement gains.The company completed two significant acquisitions post-quarter: the 234-room 1 Hotel Central Park for $265M and the 450-room Ritz-Carlton O'ahu, Turtle Bay for $680M. The latter includes a 49-acre development parcel and will be converted to the Ritz-Carlton brand under Marriott International management.During Q2, Host Hotels strengthened its balance sheet by repaying $400M in Series G senior notes and issuing $600M in Series K green bonds at 5.7%. The company also repurchased $50M of common stock at an average price of $17.81 per share and declared a quarterly dividend of $0.20 per share.

Host Hotels & Resorts reported Q2 2024 revenues of $1.47B, up 5.2% YoY, with net income rising 13.1% to $242M. Comparable hotel RevPAR increased marginally by 0.1% to $224.29, while Total RevPAR grew 0.5% to $368.25. The company's operating profit margin improved 200 basis points to 19.9%, driven by $53M in insurance settlement gains.The company completed two significant acquisitions post-quarter: the 234-room 1 Hotel Central Park for $265M and the 450-room Ritz-Carlton O'ahu, Turtle Bay for $680M. The latter includes a 49-acre development parcel and will be converted to the Ritz-Carlton brand under Marriott International management.During Q2, Host Hotels strengthened its balance sheet by repaying $400M in Series G senior notes and issuing $600M in Series K green bonds at 5.7%. The company also repurchased $50M of common stock at an average price of $17.81 per share and declared a quarterly dividend of $0.20 per share.