Host Hotels’ shares fell 5.7% after earnings, despite higher third-quarter RevPAR and EBITDA. The transcript points to a more measured full-year outlook as a likely concern: storms are expected to reduce 2026 comparable RevPAR growth by 40 basis points and hotel EBITDA by about $10 million, including $7 million from Maui.
- Third-quarter adjusted EBITDAre rose 8.8% year over year to $347 million; adjusted FFO per share increased 11.4% to $0.39.
- Comparable hotel RevPAR grew 8.8%, and total RevPAR rose 7.3%. Hotel EBITDA margin expanded 90 basis points to 25.2%, as rate growth more than offset higher wages.
- Transient revenue increased about 12%, while business-transient revenue rose 9%; group room revenue was up 5%, and full-year group revenue pace was 6% ahead of the same time last year.
- Management estimates Hawaii weather events will reduce full-year EBITDA by about $10 million. Maui properties are now expected to generate approximately $122 million of 2026 EBITDA, $2 million above prior guidance.
- Host announced two acquisitions: the 1 Hotel Brooklyn Bridge for $202 million and the Renaissance Dallas at Plano Legacy West for approximately $172 million.
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