Host Hotels & Resorts Inc (HST)
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Business model, numbers and balance sheet hold up to our review. Whether the current price supports an entry is a separate question — it hangs on the price, not on the company.
Whoever buys today bets that affluent travelers keep booking, that the 3.0 to 4.5 percent RevPAR range holds, and that the market keeps paying REIT-typical 12 times FFO near the all-time high — and accepts that the first quarter’s earnings headline was a one-off. Whoever waits checks two lines instead of one in every quarterly report (10-Q): Adjusted FFO per share (still growing single digits?) and comparable RevPAR — and keeps in mind the cyclical nature of hotel leases, which are renegotiated every night. The decision is yours.
symbol.quality_note
Host Hotels & Resorts owns 76 luxury and upper-upscale hotels with roughly 41,700 rooms — and employs just 162 people itself. In our in-house stock scanner, the stock lights up 13 filters in the momentum run of July 17, 2026, and earnings per share doubled in the latest quarter. We read the annual reports (10-K) for 2024 and 2025 and the recent quarterly reports (10-Q): a $1.1 billion price tag for two Four Seasons resorts, a profit jump that is half made of that sale, a REIT metric called FFO growing just 4.8 percent — and 64 percent of the hotels in the hands of a single operator. Not investment advice — just a reminder that a gust is not a climate.
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Stock Watch
This analysis is as of July 17, 2026. Stock Watch will tell you what's changed at HST since then.
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Trading Day
Key levels of the most recently completed trading day — not a live quote.
52-Week Range
Current price 25.10 $ — 96% of the range above the low.
Lowest and highest closing price over the last 52 weeks. The marker shows where the current price sits within that range: close to the high speaks for strength, close to the low for weakness.
Basics
Performance
Technical Indicators
Calculated from the price history · as of 08/03/2026
Valuation
Profitability
Balance Sheet & Safety
Growth
Dividend
Quality & Screener
AI Rating
Uses AIHost Hotels & Resorts erklärt in den Geschäftsberichten (10-K) für 2025 und 2024 wörtlich, dass der Konzern und seine Drittmanager „weiterhin KI einführen“ — allerdings ohne konkrete Anwendungsfälle und ausschließlich im Kontext neuer Sicherheitsrisiken; KI ist keine Umsatzquelle, und die Erwähnung generativer KI-Suche als Wettbewerbskanal bleibt eine Randnotiz im Vertriebsrisiko-Abschnitt.
View the full file — quotes, sources, reviewed filings
„Further, we and third parties, including our third-party managers, continue to adopt AI, which poses new security challenges. The introduction of AI, particularly generative AI, may also result in new or expanded risks and liabilities, including due to enhanced governmental or regulatory scrutiny, litigation, copyright infringement, compliance issues, ethical concerns, security risks relating to private and/or confidential information, as well as other factors that could adversely affect our business, reputation, and financial results."
Darüber hinaus führen wir und Dritte, einschließlich unserer Drittmanager, weiterhin KI ein, was neue Sicherheitsherausforderungen mit sich bringt. Die Einführung von KI, insbesondere generativer KI, kann zudem zu neuen oder erweiterten Risiken und Haftungen führen — unter anderem durch verstärkte behördliche oder regulatorische Kontrolle, Rechtsstreitigkeiten, Urheberrechtsverletzungen, Compliance-Fragen, ethische Bedenken, Sicherheitsrisiken in Bezug auf private und/oder vertrauliche Informationen sowie weitere Faktoren, die sich nachteilig auf unser Geschäft, unseren Ruf und unsere Finanzergebnisse auswirken könnten.
„Further, we and third parties, including our third-party managers, continue to adopt AI, which poses new security challenges. The introduction of AI, particularly generative AI, may also result in new or expanded risks"
Darüber hinaus führen wir und Dritte, einschließlich unserer Drittmanager, weiterhin KI ein, was neue Sicherheitsherausforderungen mit sich bringt. Die Einführung von KI, insbesondere generativer KI, kann zudem zu neuen oder erweiterten Risiken führen
„Search engines (including generative AI search) and peer-to-peer inventory sources also provide online travel services that compete with our hotels."
Auch Suchmaschinen (einschließlich generativer KI-Suche) und Peer-to-Peer-Angebotsquellen bieten Online-Reisedienste an, die mit unseren Hotels konkurrieren.
Filings Reviewed: 10-Q 2026-05-08 · 10-Q 2025-11-07 · 10-Q 2025-08-01 · 10-Q 2025-05-02 · 10-K 2026-02-25 · 10-K 2025-02-26
Rated on July 17, 2026 · How the Rating Is Built
What the Earnings Calls Reveal
Unremarkable Reliable near termHost Hotels has been presented by the same two executives for years, and the calls are unusually rich in numbers: analyst questions are almost always answered with complete earnings bridges. Of eight datable commitments across ten calls, one was clearly missed, namely RevPAR growth in the second half of 2024; four were met and three remain open. That year was the weak spot overall: guidance was cut from 4 percent to zero in two steps. Two very strong years followed, with guidance raised every quarter and comfortably beaten. The one open point is that two long range goals announced at the May 2023 investor day, neither carrying a target date, were not mentioned again after 2024-Q2. The much discussed pivot from buyer to seller, by contrast, was no silent break: it was flagged quarter by quarter and quantified in detail when the two Four Seasons resorts were sold.
10 calls reviewed, 2023-Q4 through 2026-Q1 · As of August 3, 2026
2024 guidance cut from 4 percent to zero in two steps
On the 2023-Q4 call, 2024 guidance stood at 2.5 to 5.5 percent RevPAR growth, midpoint 4 percent, and the second half was explicitly promised at mid single digit growth. By 2024-Q1 the midpoint fell to 3 percent, by 2024-Q2 to zero (range minus 1 to plus 1 percent), and 2024-Q3 held there. The full year 2024 delivered 0.9 percent, with the second half at 0.8 percent in Q3 and 3.0 percent in Q4 instead of the promised mid single digit rate. Earnings only stayed stable at 1.656 billion dollars because 1.5 billion dollars of acquisitions and roughly 40 million dollars of insurance proceeds entered the same year. The core operating assumption for the year was therefore off by about three percentage points. Both cuts were broken out immediately and in detail on the respective calls (Maui, a weak first quarter, the international travel imbalance), but that does not change the size of the error.
The pivot to selling was flagged, not made quietly
In 2023-Q4 the chief executive said the company wanted to be a net acquirer that year and to put the balance sheet to work. That is what happened: four properties were bought in 2024 for 1.5 billion dollars. The later pivot to selling was made openly and in stages. As early as 2024-Q2 the chief executive ruled out further deals for that year and early the next when asked, in 2024-Q3 he announced he would test the market with non core assets, and in 2025-Q3 he called acquisitions a very low priority. The 2025-Q4 sale of the Four Seasons resorts in Orlando and Jackson Hole for 1.1 billion dollars was explained at length: 14.9 times earnings and thus four turns above the company's own trading multiple, 175 million dollars above cost, an 11 percent unlevered return, 6.5 percent of enterprise value for only 4.7 percent of hotel earnings. The luxury thesis from 2024-Q2 was not withdrawn but explicitly reaffirmed: management still expects luxury to outperform yet judged the sale at that price the better outcome for shareholders. That is a price argument, not a break with its own thesis.
Two investor day goals quietly lapse
In 2024-Q1 management twice referenced the path to 2 billion dollars of EBITDA announced at the May 2023 investor day, inviting investors to hold the company to it. In 2024-Q2 it said the company was halfway to its target of 3 billion dollars of acquisitions. After that, neither figure appears again across the eight following calls through 2026-Q1, neither confirmed nor withdrawn. This is the one genuine criticism of the communication. It weighs less than it first appears, though: neither goal carried a target date, and the underlying numbers are still disclosed. In 2025-Q4 the chief executive walked through how the 1.770 billion dollar guidance for 2026, after selling 87 million dollars of hotel earnings and losing 24 million dollars of insurance and guarantee proceeds, equates to a run rate of close to 1.9 billion dollars. The stabilised run rate of 1.750 billion dollars derived in 2024 was therefore not dropped but overtaken to the upside.
Maui recovers more slowly than hoped, target still stands
After the August 2023 wildfires, a pre fire level of roughly 172 million dollars of earnings contribution serves as the yardstick. Maui delivered around 111 million dollars in 2025, with 120 million dollars budgeted for 2026, still roughly 30 percent below that mark three years after the disaster. That is the real disappointment. A quiet withdrawal of the target, however, cannot be documented: in 2024-Q4 the chief financial officer said explicitly, when asked, that the 172 million dollars remained reachable and it was only a question of when, deliberately naming no date. The range of 110 to 160 million dollars given in 2025-Q3 does not replace that mark; it was the then explicitly preliminary expectation for 2026, offered before the budgets were finalised. Group recovery was not missed either: in 2025-Q3 Maui group pace for 2026 was 13 percent above the prior year, and in 2026-Q1 it remained positive, at nearly 20 percent for the fourth quarter. The 2025 expectation itself was beaten, from about 90 to 111 million dollars.
2025 wage estimate came in far too low
Asked about 2025 labour costs, the chief financial officer answered in 2024-Q2 with 3 to 4 percent or better. Wages in fact rose by just over 6 percent in 2025, after 5.4 percent in 2024. The estimate therefore sat not only below the eventual outcome but even below the prior year figure already visible at the time. It must be conceded, though, that the same answer carried four separate caveats: it was a little early, the managers were only then working through budgets, those would not arrive until late in the year, and more would be known in October or November. The number never entered any guidance. In the very first 2025 outlook, on the 2024-Q4 call, the company said over 6 percent and hit the eventual actual precisely. The 2025 margin guidance of minus 150 to minus 210 basis points rested on that corrected assumption, not on the earlier estimate.
The other side: 2025 and 2026 delivered consistently
The picture would be incomplete without the other side. For 2025, guidance was raised in all four quarters: from a starting point of 1.5 percent RevPAR and 1.620 billion dollars of earnings to an actual 3.8 percent and 1.757 billion dollars, 8.5 percent above the company's own initial guidance. In 2026-Q1 it was raised again, from 2.75 to 3.75 percent RevPAR and from 1.770 to 1.810 billion dollars. The renovation programme has been reported with the same yardstick in every single call since 2023-Q4: the stated aim was 3 to 5 points of market share gain, and 7 to 8.9 points were delivered throughout. The Hyatt programme has been described as on time and under budget consistently since 2024-Q2, with progress quantified since 2025-Q2 at 50, 65, 75 and more than 80 percent. Every other datable commitment was met as well: the reopening of the Don CeSar, the sale of non core assets and the 0.72 dollar per share special dividend from the Four Seasons sale.
Management promises
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2023-Q4 broken
Mid single digit RevPAR growth was promised for the second half of 2024, based on group booking pace and lower renovation disruption.
Delivered was 0.8 percent in 2024-Q3 and 3.0 percent in 2024-Q4. The promise was already cut to slightly positive in 2024-Q2, without putting the original statement in context.
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2023-Q4 kept
The chief executive said he hoped to report within the next several months that Host had been an acquirer early in 2024.
The 2024-Q1 call announced the purchase of the Nashville hotel complex for about 530 million dollars, followed during the year by two further deals totalling 1.5 billion dollars.
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2024-Q1 open
The company said it was on track to 2 billion dollars of annual earnings, with an explicit invitation to investors to hold it to that.
No target date was given, either at the investor day or on the call, so the goal cannot count as missed. It was not mentioned again after 2024-Q2, which is a communication shortcoming. On substance, the chief executive cited an adjusted run rate of close to 1.9 billion dollars in 2025-Q4; 2026 guidance stands at 1.810 billion dollars.
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2024-Q3 kept
The company said it would test the market the following year with some non core assets and sell if pricing was attractive.
In 2025 the Westin Cincinnati, the Washington Marriott Metro Center and the St. Regis Houston were sold, with the Sheraton Parsippany under contract. The disclosed multiples were each well above the company's own market valuation.
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2024-Q4 kept
The hurricane damaged Don CeSar resort would reopen in phases beginning late in the first quarter of 2025.
The 2025-Q1 call reported the reopening in late March, with the final construction phase completed in 2025-Q3. The 2025 earnings expectation was raised from minus 1 to plus 6 million dollars and met.
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2024-Q4 open
The condominium project at the Four Seasons Orlando was budgeted to contribute about 25 million dollars of earnings in the fourth quarter of 2025.
In 2025-Q3 the figure was cut to 16 million dollars because 8 of 23 signed contracts were for villas closing only in 2026; 2025-Q4 reported about 17 million dollars realised, above the reduced expectation. The total project expectation of roughly 40 million dollars was explicitly unchanged, with a further 20 to 25 million dollars due in 2026. A pure timing shift, final tally still open.
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2025-Q2 open
The Hyatt renovation programme would be completed in early 2027 with the Manchester Grand Hyatt San Diego as the final property.
In 2025-Q4 and 2026-Q1 completion was pulled forward to the end of 2026, with the programme last reported at more than 80 percent complete, on time and under budget. Due for review with the 2026 full year results.
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2025-Q4 kept
If no accretive like kind exchange were identified within 45 days, the roughly 500 million dollar taxable gain from the Four Seasons sale would be paid out as a special dividend.
The 2026-Q1 call announced a special dividend of 0.72 dollars per share payable on 15 July. The commitment was met in full and within the announced window.
Based on public earnings call transcripts. Reviewed: 10 transcripts 2023-Q4 through 2026-Q1. Cross checked against the original transcripts on 3 August 2026.
Highlighted are things our editorial team noticed: green = stands out as strong, red = deserves a closer look. No single metric is a verdict on its own — always read it in context.
Analysts & Price Target
The price target sits 0.6% below the current price.
- Consensus
- Sell
- Analyst Ratings
- 19
Combined picture of the price targets and recommendations of every analyst covering the stock. Price targets are expectations for the next 12 months, not promises — and they often follow the price rather than predict it.
Estimates by Fiscal Year
| Fiscal Year | EPS Estimate ($) | EPS Range ($) | Revenue Estimate ($M) | Expected Growth | Analysts |
|---|---|---|---|---|---|
| 12/31/2026 | 1.28 | 0.97 – 1.53 | 6,148 | 16.6% | 5 |
| 12/31/2027 | 1.02 | 0.88 – 1.14 | 6,165 | -20.7% | 5 |
Average of the analyst estimates for the coming fiscal years. The range shows how far the most optimistic and the most cautious estimate sit apart — the wider it is, the less certain the expectation.
Next Reporting Date
- Expected Earnings per Share
- 0.62 $
Expected date of the next quarterly or annual figures. Dates do shift occasionally — only the invitation issued by the company is binding.
Revenue & Profit
Cash Flow
Balance Sheet
Margins
Per Share
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Source: fundamental data
Quarterly Figures
| Quarter | EPS (Earnings Per Share) | EPS YoY (%) | Sales ($M) | Sales YoY (%) | Net Margin (%) | OCF ($M) | FCF ($M) |
|---|---|---|---|---|---|---|---|
| 2024: Q4 | 0.15 | -17.40 | 1,428 | 7.90 | 7.60 | 331 | 158 |
| 2025: Q1 | 0.36 | -6.50 | 1,594 | 8.40 | 15.60 | 305 | 159 |
| 2025: Q2 | 0.32 | -5.90 | 1,586 | 8.20 | 13.90 | 444 | 292 |
| 2025: Q3 | 0.23 | 99.70 | 1,331 | 0.90 | 12.10 | 218 | 62 |
| 2025: Q4 | 0.19 | 26.30 | 1,603 | 12.30 | 8.40 | 539 | 349 |
| 2026: Q1 | 0.71 | 100.50 | 1,645 | 3.20 | 30.00 | 342 | 220 |
- EPS (Earnings Per Share):
- Quarterly profit divided by the total share count — how much of the profit works out to a single share.
- YoY (Year over Year):
- Change versus the same quarter a year ago — this is how you compare without seasonal distortion (e.g. the holiday shopping season).
- Sales:
- All revenue for the quarter, before any costs are deducted — the top line of the income statement.
- Net Margin:
- What percentage of sales is left over as profit in the end. Negative means the company is posting a loss.
- OCF (Operating Cash Flow):
- The cash that actually flows into the till from the core business during the quarter — harder to dress up than book profit.
- FCF (Free Cash Flow):
- Operating cash flow minus capital expenditures — the money that's genuinely free to use, say for paying down debt, buybacks, or dividends.
Annual Figures
| Fiscal Year | Revenue ($M) | EBIT ($M) | Net Income ($M) | EPS ($) | Operating Cash Flow ($M) | Equity ($M) | Total Assets ($M) |
|---|---|---|---|---|---|---|---|
| 2016 | 5,430 | 684 | 762 | 1.02 | 1,303 | 7,198 | 11,408 |
| 2017 | 5,387 | 676 | 564 | 0.76 | 1,230 | 7,169 | 11,693 |
| 2018 | 5,524 | 530 | 1,087 | 1.47 | 1,300 | 7,694 | 12,090 |
| 2019 | 5,469 | 799 | 920 | 1.26 | 1,250 | 7,467 | 12,305 |
| 2020 | 1,620 | -953 | -732 | -1.04 | -307 | 6,321 | 12,890 |
| 2021 | 2,890 | -250 | -11 | -0.02 | 292 | 6,441 | 12,352 |
| 2022 | 4,907 | 775 | 633 | 0.88 | 1,416 | 6,710 | 12,269 |
| 2023 | 5,311 | 827 | 740 | 1.04 | 1,441 | 6,633 | 12,243 |
| 2024 | 5,684 | 875 | 697 | 0.99 | 1,498 | 6,609 | 13,048 |
| 2025 | 6,114 | 831 | 765 | 1.10 | 1,502 | 6,558 | 13,049 |
Fiscal years from the audited annual reports, oldest first. EBIT is the operating profit before interest and taxes; total assets are everything the company owns.
Assessment: Opportunities & Risks
The largest publicly traded lodging REIT in the U.S.: 76 luxury and upper-upscale hotels with roughly 41,700 rooms in hard-to-copy locations (Hawaii, Manhattan, California, Florida), continuously modernized, with capital access and scale advantages (annual report 10-K for 2025).
Four consecutive growth years: revenue 2025 up 7.6 percent to $6,114 million, comparable RevPAR up 3.8 percent, Q1 2026 up 4.4 percent with improved margin; management outlook for 2026: RevPAR up 3.0 to 4.5 percent (10-Q as of 03/31/2026).
The 105.7 percent EPS jump in Q1 2026 is, per the quarterly report, "primarily due to gains on the sale of assets" — a $242 million one-off from three hotel sales (≈ $0.35 per share); Adjusted FFO per share grew just 4.7 percent, and analyst consensus sees EPS falling back next year (data as of July 17, 2026).
About 64 percent of hotels (by 2025 revenues) hang on Marriott, 65 percent of hotel revenues on seven markets; a documented series of disasters (Maui wildfires 2023, Florida hurricanes 2022/2024) with Maui impact expected through 2026 — Host employs no hotel staff and does not hold the operating levers itself (10-K for 2025, Item 1A).
$5.1 billion of debt (12/31/2025) against $1,703 million of cash after the sales (03/31/2026), leverage under three times Adjusted EBITDAre, Altman Z around 5.4 — solid; but the 90 percent payout requirement prevents crisis buffers, and the dividend ($0.95 for 2025 incl. special dividend) remains as cyclical as the business.
13 momentum hits, stage-2 trend, RS 82, just about 2 percent below the all-time high — at about 12 times NAREIT FFO and a dividend yield of roughly 3.8 percent (data as of July 17, 2026): no longer a bargain, not a bubble; the seemingly moderate P/E of about 17 is distorted by the gains on sale.
Host Hotels is a disciplined luxury landlord with real but unspectacular growth: 3 to 5 percent RevPAR, about $2 of FFO per share, $0.95 in dividends — the climate. The doubling headline of the first quarter of 2026, by contrast, is a gust made of $242 million in gains on sale that will not repeat. Whoever buys the stock near its all-time high buys a payout vehicle with a Marriott concentration, seven weather regions and leases one night long — at 12 times FFO. Not investment advice.
- HST made the research list via the momentum/stage-2 run of our in-house stock scanner on July 17, 2026 (13 hits, incl. Stan Weinstein stage 2, near 52-week high, EPS acceleration) — not a Reddit hype find.
- Scanner metrics (P/E, Piotroski, Altman Z, fundamental grade) use trailing twelve-month figures; the Q1 2026 gain on sale is baked in and optically lowers the P/E — the REIT-appropriate reading (FFO/AFFO) is in the article.
- Price and valuation figures dated July 17, 2026 (about $25, about $17.5 billion market value); analyses are evergreen, daily prices are not a buy argument.
About the Company
Host Hotels & Resorts, Inc., im Folgenden „wir", „Host Inc." genannt.
| Employees | 162 |
|---|---|
| Headquarters | Bethesda, MD |
| Address | 4747 Bethesda Avenue, 20814-1109 Bethesda, United States |
| Phone | 240 744 1000 |
| Website | hosthotels.com |
| IPO Date | 6. Apr 1983 |
| ISIN | US44107P1049 |
| Stock Split | 10215:10000 on 11/04/2009 |
Management
| Name | Title | Birth Year |
|---|---|---|
| James F. Risoleo | President, CEO & Director | 1956 |
| Sourav Ghosh | Executive VP & CFO | 1977 |
| Nathan S. Tyrrell | Executive VP & Chief Investment Officer | 1973 |
| Julie P. Aslaksen J.D. | Executive VP, General Counsel & Secretary | 1975 |
| Michael E. Lentz | Executive Vice President of Development, Design & Construction | 1964 |
| Jaime N. Marcus | Senior Vice President of Investor Relations | – |
| Michael Rock | Senior Vice President of Asset Management | – |
| Deanne Brand | Senior VP of Strategy & Analytics and Treasurer | – |
| Padmanabh Yardi | Senior Vice President of Information Technology | – |
| Raj Contractor | Senior Vice President of Investments | – |
Executives per the latest required filings; titles kept in their original language. Source: fundamental data.
Chart
Interactive price chart (TradingView).
Data as of: July 31, 2026 · Source: fundamental data & SEC filings (annual and quarterly reports, 10-K/10-Q)
Note: pure fact-based analysis, not investment advice and not a solicitation to buy or sell. All figures without guarantee.