Host Hotels & Resorts, Inc. Earnings Recaps
Q3 2026
Nov 9, 2026
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.
Key takeaways
- 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.
Q3 2025
Nov 6, 2025
Host Hotels & Resorts reported solid third-quarter results with adjusted EBITDAre of $319 million, marking a slight decrease year-over-year, yet reflecting overall operational strength with improved RevPAR across its portfolio.
Key takeaways
- Adjusted FFO per share decreased by 2.8% year-over-year, while year-to-date adjusted EBITDAre is up 2.2%.
- Comparable hotel RevPAR improved by 80 basis points, reflecting strong transient demand, particularly at resort properties in Maui, San Francisco, New York, and Miami.
- The company expects increased total group revenue pace for 2026, up 13% in Maui, despite challenges including renovations and macros economic uncertainties.
- Successful sale of the Washington Marriott Metro Center for $177 million enhances capital allocation, with over $5.2 billion in asset disposals at favorable EBITDA multiples since 2018.
- Ongoing transformational renovations with Marriott, targeting $300 million to $350 million investments, are anticipated to drive mid-teen cash-on-cash returns and RevPAR share gains.