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Host Hotels Q4 FFO & Revenues Top Estimates, Hotel RevPAR Rises
HSTHost Hotels & Resorts(HST) ZACKS·2025-02-20 15:41

Core Insights - Host Hotels & Resorts, Inc. (HST) reported fourth-quarter adjusted funds from operations (AFFO) per share of 44 cents, exceeding the Zacks Consensus Estimate of 40 cents, with the figure unchanged from the prior-year quarter [1] - The company generated total revenues of 1.43billion,surpassingtheZacksConsensusEstimateof1.43 billion, surpassing the Zacks Consensus Estimate of 1.38 billion, reflecting a year-over-year increase of 7.9% [2] - For 2024, HST reported AFFO per share of 1.97,upfrom1.97, up from 1.92 in the previous year, and total revenues of 5.68billion,whichincreasedby75.68 billion, which increased by 7% year over year [3] Financial Performance - Comparable hotel RevPAR was 212.86 in the fourth quarter, a 3% increase from 206.67intheprioryear,drivenbybetterratesfromtransientleisuredemand[4]−Theaverageroomrateroseto206.67 in the prior year, driven by better rates from transient leisure demand [4] - The average room rate rose to 317.23 from 307.05year−over−year,whilethecomparableaverageoccupancypercentagewas67.1307.05 year-over-year, while the comparable average occupancy percentage was 67.1%, down 20 basis points from the previous year [5] - Room nights for transient and contract businesses grew by 2.8% and 0.3% year over year, while group business declined by 4.8% [6] Balance Sheet and Capital Expenditure - As of December 31, 2024, Host Hotels had cash and cash equivalents of 554 million, with total liquidity of 2.3billion,including2.3 billion, including 242 million in FF&E escrow reserves [7] - The company's capital expenditure totaled 548million,with548 million, with 260 million allocated for total return on investment projects, 252millionforrenewalandreplacement,and252 million for renewal and replacement, and 36 million for property damage reconstruction [8] 2025 Outlook - HST projects full-year AFFO in the range of 1.82−1.82-1.91, which is lower than the Zacks Consensus Estimate of 1.93[9]−ThecompanyexpectscomparablehotelRevPARtobebetween1.93 [9] - The company expects comparable hotel RevPAR to be between 221-225millionandadjustedEBITDAretorangefrom225 million and adjusted EBITDAre to range from 1.59 billion to $1.65 billion for 2025 [10] Dividend Information - Concurrent with the fourth-quarter earnings, HST declared a first-quarter 2025 dividend of 20 cents on its common stock, payable on April 15 to stockholders of record on March 31, 2025 [11]