Host Hotels & Resorts, Inc. Q3 2025 Earnings Recap

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.