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• Adjusted EBITDAre: $514 million, an increase of 5.1% over last year.

• Adjusted FFO per Share: $0.64, an increase of 4.9% over last year.

• Comparable Hotel Total RevPAR: Improved 5.8% compared to the first quarter of 2024.

• Comparable Hotel RevPAR: Improved 7%, driven by strong rate growth.

• Comparable Hotel EBITDA Margin: Improved by 30 basis points year over year to 31.8%.

• Transient RevPAR Growth: 6%, driven by resorts and strong performance in Maui, New York, and Los Angeles.

• Maui RevPAR Growth: 16% in the first quarter.

• Group RevPAR Growth: 7% year over year.

• F&B RevPAR Growth: 5%, driven by banquet and outlet growth.

• Share Repurchase: 6.3 million shares repurchased at an average price of $15.79 per share, totaling $100 million.

• Capital Expenditure Guidance for 2025: $580 million to $670 million.

• Leverage Ratio: 2.8 times.

• Available Liquidity: $2.2 billion, including $264 million of FF&E reserves and $1.5 billion available under the revolver portion of the credit facility.

• Quarterly Cash Dividend: $0.20 per share.

• Warning! GuruFocus has detected 4 Warning Sign with HST.

Release Date: May 01, 2025

For the complete transcript of the earnings call, please refer to the full earnings call transcript.

Positive Points

• Host Hotels & Resorts Inc (NASDAQ:HST) reported a 5.1% increase in adjusted EBITDAre to $514 million and a 4.9% increase in adjusted FFO per share to $0.64 compared to the previous year.

• Comparable hotel total RevPAR improved by 5.8% year-over-year, driven by strong rate growth, with notable performance in markets like Washington DC, New York, New Orleans, Los Angeles, and Maui.

• The company successfully reopened the Don CeSar resort after a six-month remediation effort, with stronger than anticipated transient demand and increased demand for spa services.

• Host Hotels & Resorts Inc (NASDAQ:HST) repurchased 6.3 million shares of common stock for $100 million, demonstrating a commitment to returning value to shareholders.

• The company maintains a strong balance sheet with a leverage ratio of 2.8 times and $2.2 billion in total available liquidity, positioning it well to navigate uncertain economic conditions.

Negative Points

• The company faces heightened macroeconomic uncertainty, which could potentially impact lodging fundamentals and RevPAR growth.

• Group lead volume has moderated, particularly among association and government-related groups, due to increased uncertainty.

• Comparable hotel EBITDA margins are expected to decline by 100 to 160 basis points year-over-year, driven by wage and benefit rate increases and fixed expense pressures.

• The company anticipates a challenging comparison for total RevPAR growth due to a decline in attrition and cancellation revenue.

• Host Hotels & Resorts Inc (NASDAQ:HST) is cautious about the potential impact of tariffs on its CapEx budget and future capital projects.