host hotels
Host Hotels & Resorts Acquires 319-Room Hotel Van Zandt for $246M
Host Hotels & Resorts | February 3, 2022
BETHESDA, Md., Feb. 03, 2022 -- Host Hotels & Resorts, Inc. (NASDAQ: HST), the nation's largest lodging real estate investment trust (the "Company"), today announced that it has acquired the fee simple interest in the Hotel Van Zandt, a 319-room luxury lifestyle hotel in Austin, Texas for a purchase price of approximately $246 million including its $4 million FF&E reserve. The net acquisition price of approximately $242 million represents a 13.2x multiple on 2019 EBITDA1 and stabilization is expected in the 2025-2027 timeframe at approximately 10-12x EBITDA1. The Company funded the acquisition with approximately $140 million in ...
Host Hotels & Resorts, Inc. Reports Results for 2020
Host Hotels & Resorts | February 19, 2021
BETHESDA, Md., Feb. 19, 2021 -- Host Hotels & Resorts, Inc. (NASDAQ: HST) (the “Company”), the nation’s largest lodging real estate investment trust (“REIT”), today announced results for the fourth quarter and full year 2020. James F. Risoleo, President and Chief Executive Officer, said, “We continued to grow sequential revenues while minimizing operating expenses in the fourth quarter and further reduced our net loss and hotel-level operating losses from third-quarter levels. With accelerating vaccine deployment, decreasing weekly COVID-19 case counts and the easing of lockdowns, we are encouraged by recent booking activitie...
Host Hotels & Resorts, Inc. Reports Results For Second Quarter 2020
Host Hotels & Resorts | July 31, 2020
BETHESDA, Md., July 31, 2020 -- Host Hotels & Resorts, Inc. (NYSE: HST) (the “Company”), the nation’s largest lodging real estate investment trust (“REIT”), today announced results for the second quarter of 2020. James F. Risoleo, President and Chief Executive Officer, said, “I am incredibly proud of Host’s swift and decisive response to the challenging operating environment we faced in the second quarter. We significantly reduced our monthly hotel-level loss from April to June by working with our operators to reopen 19 hotels in a socially and financially responsible manner while continuing to carefully control expenses. O...
Host Hotels & Resorts Closes $302 Million Sale of the Westin New York Grand Central Hotel
Host Hotels & Resorts | January 14, 2019
BETHESDA, Md., Jan. 14, 2019 -- Host Hotels & Resorts, Inc. (NYSE: HST), the nation's largest lodging real estate investment trust (the "Company"), today announced that it closed on the previously announced agreement to sell the Westin New York Grand Central hotel for $302 million, including approximately $20 million of FF&E funds. "We have been pleased with our continued execution of further reducing our exposure to New York, a key initiative set early on in my tenure as CEO. With the completion of this sale, we have sold 3 assets and the retail, signage, and theater condo space at the New York Marriott Marquis f...
Host Hotels & Resorts Appoints Michael D. Bluhm Executive Vice President and Chief Financial Officer to Succeed Gregory Larson Entering Retirement
September 12, 2017
BETHESDA, Md., Sept. 12, 2017 -- Host Hotels & Resorts, Inc. (NYSE:HST) ("Host Hotels" or the "Company") today announced that Gregory J. Larson will retire in November as executive vice president and chief financial officer. In addition, the Company has named Michael D. Bluhm as his successor. Mr. Bluhm most recently served as managing director, head of western region real estate and global head of lodging and leisure investment banking at Morgan Stanley. Mr. Larson will work with the Company and Mr. Bluhm on the transition through the end of the year and continue as a senior advisor through July 31, 2018. The Co...
Host Hotels & Resorts to Debut $107 Million Expansion of Marriott Marquis San Diego in June 2016
Marriott Marquis San Diego Marina | February 29, 2016
San Diego, CA –Marriott Marquis San Diego Marina, owned by Host Hotels & Resorts, Inc. (NYSE:HST), the leading lodging real estate investment trust and owners of luxury and upper upscale hotels worldwide, is currently working on a groundbreaking expansion. Set to transform the face of Downtown San Diego's waterfront just in time for summer, the iconic hotel will now be home to a brand-new two-level stacked ballroom project along with Marina Terrace, a grand outdoor area right on the bay, coupled with the stunning public walkway, Marina Walk. With its gigantic 16-screen video wall system and distinctive design details such as a...
Host Hotels & Resorts, Inc. Provides Update on Value-Enhancing Strategic Transactions
Host Hotels & Resorts | November 17, 2015
BETHESDA, Md., Nov. 17, 2015 -- Host Hotels & Resorts, Inc. (NYSE:HST) today provided an update on its ongoing, value-enhancing strategic transactions and share repurchases. "We are making solid progress on our strategic initiatives to create value, as underscored by our latest asset divestitures, financing activity and aggressive stock repurchases," said W. Edward Walter, President and Chief Executive Officer. "We are opportunistically taking advantage of value-enhancing opportunities and market conditions, and remain confident in our strategic plan and future prospects. Host Hotels is taking the right steps to support continued st...
Denver Marriott Tech Center to Begin Major Transformation this Fall Including Guest Room Overhaul
Sage Hospitality | September 14, 2015
Hotel will remain open as it undergoes the refresh to offer guests more meeting space, new luxury Extended Stay Executive Accommodations and a Marriott M Club lounge Denver, Colo. (Sept. 14, 2015) - The Denver Marriott Tech Center will launch a massive property transformation this fall, elevating the hotel to be one of Colorado's top destinations for both leisure and business travelers. The major renovation scheduled to kick off this fall and be completed by next September will include a complete overhaul of the hotel's lobby, 605 guest rooms and more than 50,000 square feet of meeting space. The hotel's two towers of guest rooms will u...
