1 HOTEL NASHVILLE EMBASSY SUITES BY HILTON NASHVILLE DOWNTOWN
Corporate Results(1)
$272M
$483M
$0.38
$0.60
Net Income
Adjusted EBITDAre
Diluted EPS
Nareit FFO & Adjusted
FFO Per Share
Comparable Hotel Results(1)
50 bps
(1.2)%
19.8%
31.2%
Total RevPAR
RevPAR
Operating Profit
Hotel EBITDA
vs. Q1 2023
vs. Q1 2023
Margin
Margin
"Host delivered comparable hotel Total RevPAR growth of 0.5% over the first quarter of 2023, which is impressive given the challenging comparison of the prior year. Banquet revenues led our performance, driven by improvements in group business and continued strong demand in food and beverage. In addition, we delivered net income of $272 million, a decline of 6.5% compared to the first quarter of 2023, and Adjusted EBITDAre of $483 million, an 8.8% improvement over the first quarter of 2023. Subsequent to quarter end, we acquired the 1 Hotel Nashville and Embassy Suites by Hilton Nashville Downtown, underscoring the strength of our balance sheet and our strategic approach to capital allocation."
James F. Risoleo, President and CEO
2024 Comparable Hotel Guidance(1)
Total RevPAR
RevPAR
2.7% - 4.6%
2.0% - 4.0%
vs. 2023
vs. 2023
Operating Profit Margin
Hotel EBITDA Margin
15.4% - 16.1%
29.3% - 29.8%
Adjusted EBITDAre, Nareit FFO and Adjusted FFO per diluted share, and comparable hotel EBITDA margin are non-GAAP financial measures. Operating Profit Margin is a GAAP measure and includes the entire consolidated portfolio. Corporate Results include 77 hotels. Comparable Hotel Results in Q1 2024 include 76 hotels. 2024 Comparable Hotel Guidance includes 75 hotels. Forward-looking statements are not guarantees of future performance and involve known and unknown risks that may cause actual results to be materially different from these forecasts. See the Company's earnings release for a description of non-GAAP measures, reconciliations to the most directly comparable GAAP measure, limitations on the use of these supplemental measures, and cautionary language regarding forward looking statements and items that may affect lodging demand and forecast results on the Company's website: https://ir.hosthotels.com/static-files/host-hotels-resorts-inc-first-quarter-2024-results
Attachments
Original Link
Original Document
Permalink
Disclaimer
Host Hotels & Resorts Inc. published this content on
01 May 2024 and is solely responsible for the information contained therein. Distributed by
Public, unedited and unaltered, on
02 May 2024 10:43:05 UTC.
Host Hotels & Resorts, Inc. specializes in owning, operating, and managing hotels. Net sales break down by activity as follows:
- hospitality services (61.1%);
- restaurant services (29.8%);
- other (9.1%): primarily real estate leasing.
As of 23/02/2024, the group had a portfolio composed of 77 hotels (41,972 rooms) located in the United States (72), Brazil (3), and Canada (2).
Net sales are distributed geographically as follows: the United States (98.3%), Canada (1,3%), and Brazil (0.4%).
HOST HOTELS & RESORTS, INC. 
