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Buy Day today: Good (62) Broad market participation · no major macro event
HST

Host Hotels & Resorts Inc

Real Estate · REIT - Hotel & Motel · listed since 1983

21.90$ +0.6% vs. previous close Closing price · As of: Sep 17, 2026
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Assessment

Our Rating

A journalistic assessment by our editorial team at the time of the deep dive — it rates the company, not the entry point. Not investment advice and not a solicitation to buy or sell.

Quality confirmed Reliable near term

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.

Why this colour

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.

What the thesis turns on

Assessment: Opportunities & Risks

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.

Portfolio & market position

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).

Operations & outlook

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).

Earnings quality of the headline quarter

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).

Concentration: operator & geography

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).

Balance sheet & payout

$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.

Valuation & tape

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.

Worth Noting

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.

Stock Watch

This analysis is as of August 26, 2026. Stock Watch will tell you what's changed at HST since then.

Later $1 a month per stock — signing up is free, and you'll be the first to know when it launches.

Price history

Chart

Interactive price chart (TradingView).

52-week range: 15.80 $ to 25.50 $ · Last price: 21.90 $ (As of: September 17, 2026)

Key figures

Key figures at a glance

Every figure we hold for this stock, grouped by topic. The question mark next to a label explains what the number means.

Basics

Market Cap ?The value of the entire company on the market: share price times total shares outstanding. 16.0$B
Shares Outstanding ?Total number of shares issued. Price times share count gives market cap. 685m
Float ?Share of stock freely tradable on the market — not locked up in the hands of founders, insiders, or major shareholders. 98.4%
Beta ?Volatility versus the overall market: 1 = moves like the market, 2 = twice as much, under 1 = calmer than the market. 1.1

Performance

Perf. 1M ?Price performance over the last month. 7.00%
Perf. 3M ?Price performance over the last 3 months. 33.70%
Perf. 6M ?Price performance over the last 6 months. 38.60%
YTD Performance (%) ?Price performance since the start of the year (Year to Date). 41.50%
52-Week-High Distance ?How far the price sits below its highest point over the last 52 weeks. 0% means the stock is at its year high. -1.7%
Perf. 1Y ?Price performance over the last 12 months. 35.29%
Perf. 3Y ?Price performance over the last 3 years. 59.37%
Perf. 5Y ?Price performance over the last 5 years. 71.00%
Perf. 10Y ?Price performance over the last 10 years. 108.29%
Perf. Since Inception ?Price performance since the first available trading day (03/17/1980) — with a complete history, that is since the IPO. 2,281.21%

Technical Indicators

MA 38 Days ?Moving average of the last 38 trading days: the smoothed price path. A price above it signals short-term strength. 23.10$
MA 50 Days ?Moving average of the last 50 trading days — the most widely watched medium-term trend line. 23.20$
MA 200 Days ?Moving average of the last 200 trading days — the dividing line between a long-term uptrend and downtrend. 21.10$
RSI (14) ?Relative Strength Index over 14 days, scale 0 to 100: above 70 counts as overbought, below 30 as oversold. A hint on timing, not a verdict on the company. 38.6
Volatility 30 Days ?Price swings over the last 30 trading days, annualized. The higher the value, the more the price fluctuates. 27.2%
Volatility 250 Days ?Price swings over the last 250 trading days (roughly one market year), annualized. 24.8%

Calculated from the price history · as of 09/18/2026

Valuation

P/E ?Price-to-earnings ratio: how many years of profit does the stock cost? The lower, the cheaper the valuation. No earnings means no P/E. 15.6
Forward P/E ?P/E based on expected earnings for the next 12 months instead of past earnings — analysts' bet on the future. 22.4
PEG ?P/E divided by expected earnings growth: puts valuation in relation to growth. Around 1 is considered fair, well above that is pricey. 3.4
P/B ?Price-to-book ratio: market value relative to book equity. 2.3
P/S ?Price-to-sales ratio: market value divided by annual sales. Important for companies that aren't (yet) profitable. 2.6
EV/EBITDA ?Enterprise value including debt (EV) relative to operating profit before depreciation and amortization (EBITDA) — more comparable than P/E because debt counts too. Extreme values arise when EBITDA is near zero. 9.0
Price/FCF ?Market value divided by free cash flow: how many years of freely available cash does the stock cost? More honest than P/E because cash flow is harder to dress up. 14.1

Profitability

Gross Margin ?Gross margin: what's left of sales after only direct production costs are deducted — the product's pricing power. 29.2%
EBIT Margin ?EBIT margin: operating profit as a percentage of sales — the earning power of the core business before interest and taxes. 19.2%
Net Margin ?Net margin: what's left of sales as profit after ALL costs, interest, and taxes. 16.5%
Return on Equity ?Return on equity: how much profit does the company generate per year on shareholders' equity? 14.9%
Return on Assets ?Return on assets: how much profit the company generates from its total assets (equity and debt combined). 4.3%

Balance Sheet & Safety

Equity Ratio ?Equity ratio: equity as a share of total assets. The higher, the more resilient the balance sheet. 51.9%
Debt/Equity ?Leverage ratio: financial debt divided by equity. Under 1 is generally seen as solid; negative values mean negative equity. 0.8
Altman Z″ ?Edward Altman's bankruptcy early-warning score. We use the Z″ variant, built from four balance-sheet ratios — it is designed for service companies and non-manufacturers and uses book value instead of market value. On that scale: below 1.1 = danger zone, 2.6 and up = safe zone, in between a grey area. Because the classic Altman Z is calculated differently, the two numbers are not directly comparable. The formula does not fit banks, insurers, or real-estate stocks. 5.44
Piotroski ?Balance-sheet health check by Joseph Piotroski: 9 yes/no criteria on profit, cash flow, leverage, and efficiency. 7+ is very solid, under 3 is a red flag. very solid 8 out of 9

Growth

Sales Growth Last Quarter ?Sales growth in the most recently reported quarter versus the same quarter a year ago (YoY). 2.80%
EPS Growth Last Quarter ?Growth in earnings per share in the most recently reported quarter versus the same quarter a year ago (YoY). 105.30%
Sales Growth (Year) ?Sales growth in the last fiscal year versus the year before. 7.57%
Forward Sales Growth ?Sales growth analysts expect over the next 12 months — an estimate, not a guarantee. 0.62%
Forward EPS Growth ?Earnings-per-share growth analysts expect over the next 12 months — an estimate, not a guarantee. -26.20%

Dividend

Dividend Yield ?Annual dividend divided by the current price: what percentage of your investment comes back as a payout each year. 3.58%
Dividend Per Share (TTM) ?Sum of dividends paid per share over the last 12 months. 1.67$
Payout Ratio ?Share of profit paid out as dividends. Over 100% means the company is paying out more than it earns — not sustainable long-term. 75.6%
Years Without a Cut ?How many years in a row the dividend hasn't been cut — a measure of reliability. 3Years
Increase Streak ?How many years in a row the dividend has been raised — the gold standard for dividend payers. 1Years

Quality & Screener

Stage ?Weinstein phases 1 through 4: 1 = basing, 2 = uptrend (the only buy phase), 3 = topping, 4 = downtrend. Measured against the 30-week line. 2
RS Rating ?Relative strength from 1 to 99: an RS of 95 means the stock has outperformed 95% of all stocks. 82
EPS Rating ?Earnings growth rating from 1 to 99 versus all stocks — high values mean above-average earnings growth. 86
Fundamental Rating ?Our own Fundamental Rating: 0 to 100 points with an A+ to F grade. 50 points is the average across the universe, 100 the best possible score. It scores growth, earnings surprises, analyst estimates, margins, cash flow, and balance-sheet safety — every stock percentile-ranked against all others. Grades: A+ from 95, A from 75, B from 55, C from 45, D from 25, E from 5, F below. B (59 out of 100)

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.

Comparison

Industry comparison

The stock alongside the largest companies in the same group. The median row is the middle value of the companies shown above — not of the whole industry.

Industry: REIT - Hotel & Motel

Industry comparison
Company Market cap ($B) P/E EV/EBITDA Gross Margin % EBIT Margin % Sales Growth (Year) % Perf. 1Y %
Host Hotels & Resorts Inc HST 16.0 15.6 9.0 29.2 19.2 7.6 35.3
Ryman Hospitality Properties Inc RHP 7.7 32.6 14.2 35.2 20.7 10.2 31.1
Apple Hospitality REIT Inc APLE 3.7 21.7 11.6 42.9 14.2 -1.3 34.7
Park Hotels & Resorts Inc PK 3.2 19.0 30.9 11.1 -2.2 37.1
Diamondrock Hospitality Company Co DRH 2.5 26.9 11.0 29.5 11.1 -0.8 56.8
Sunstone Hotel Investors Inc SHO 2.1 13.4 43.7 10.9 6.0 17.5
Pebblebrook Hotel Trust PEB 2.1 15.0 25.3 4.6 1.5 52.9
Xenia Hotels & Resorts Inc XHR 1.8 13.8 26.1 14.3 3.8 25.7
RLJ Lodging Trust RLJ 1.7 12.0 26.8 8.2 -1.4 54.3
Median of companies shown 2.5 24.3 13.4 29.5 11.1 1.5 35.3

Based on the most recently reported figures. Only stocks from the same trading venue are lined up, so the market caps are counted in one currency. Compare in a chart →

Fiscal years

Annual Figures

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.

Revenue, operating income and net income per fiscal year $M

Revenue Operating income Net income

2016 · Revenue: 5,430 $M 2016 · Operating income: 684 $M 2016 · Net income: 762 $M 2017 · Revenue: 5,387 $M 2017 · Operating income: 676 $M 2017 · Net income: 564 $M 2018 · Revenue: 5,524 $M 2018 · Operating income: 530 $M 2018 · Net income: 1,087 $M 2019 · Revenue: 5,469 $M 2019 · Operating income: 799 $M 2019 · Net income: 920 $M 2020 · Revenue: 1,620 $M 2020 · Operating income: -953 $M 2020 · Net income: -732 $M 2021 · Revenue: 2,890 $M 2021 · Operating income: -250 $M 2021 · Net income: -11 $M 2022 · Revenue: 4,907 $M 2022 · Operating income: 775 $M 2022 · Net income: 633 $M 2023 · Revenue: 5,311 $M 2023 · Operating income: 827 $M 2023 · Net income: 740 $M 2024 · Revenue: 5,684 $M 2024 · Operating income: 875 $M 2024 · Net income: 697 $M 2025 · Revenue: 6,114 $M 2025 · Operating income: 831 $M 2025 · Net income: 765 $M
2016201720182019202020212022202320242025
Annual Figures
Fiscal Year Revenue ($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

Quarters

Quarterly Figures

Each bar is one quarter, the last one is the most recent. Use the switch to step through the individual figures.

Revenue & Profit

Cash Flow

Balance Sheet

Margins

Per Share

Click the chart or tab into it, then use ← and → to step through the periods.

None of the selected stocks reports this metric. Pick another metric or switch between annual and quarterly.

These companies report in different currencies — switch on “Indexed” or pick a margin for a fair comparison.

The figures could not be loaded right now.

Sales Per Quarter ($M)
2024: Q4 · 1,428.0 $M Q4 2025: Q1 · 1,594.0 $M Q1 2025: Q2 · 1,586.0 $M Q2 2025: Q3 · 1,331.0 $M Q3 2025: Q4 · 1,603.0 $M Q4 2026: Q1 · 1,645.0 $M Q1 2026: Q2 · 1,640.0 $M Q2

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
2026: Q2 0.35 9.40 1,640 3.40 14.50 503 503

What Do These Terms Mean?

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.

Compare with other stocks →

Screening

Appears in These Scanners

This stock currently matches 20 of our scanner strategies — each hit links to the scanner.

Best Hits

Growth

Quality & Balance Sheet

Aktien.Guide

Dividends

Momentum & Trend

Research

Risk & Weakness

Only genuine hits from verified scanners count; pure ranking metrics (P/E, P/S, and similar, which just sort the whole universe) don't count as a hit. Scanners marked in red are red-flag signals (risk/short scanners) — appearing there is not a seal of approval. View all scanners

Outlook

Analysts & Price Target

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.

Consensus Sell 1 = Strong buy … 5 = Strong sell
Analyst Ratings 19
Price Target (average) 25.29$
Distance to price 15.5% The price target sits 15.5% above the current price.

Distribution of Recommendations

Strong Buy 10
Buy 3
Hold 6
Sell 0
Strong Sell 0

Estimates by Fiscal Year

Estimates by Fiscal Year
Fiscal Year EPS Estimate ($) EPS Range ($) Revenue Estimate ($M) Expected Growth Analysts
12/31/2026 1.37 1.36 – 1.39 6,149 24.9% 5
12/31/2027 1.06 0.98 – 1.13 6,172 -23.2% 6

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.

Valuation

What is priced in?

Instead of guessing what the stock is worth, we turn the question around: what free cash flow growth has to happen for today’s market value to add up? The assumptions behind it can be moved.

Today’s market value implies roughly 4.5% growth in free cash flow per year over ten years (assumptions: discount rate 10.0%, terminal growth 2.5%).

What is priced in?
Free cash flow (last twelve months) $1.01B
Market cap $15.97B
Free cash flow in year ten $1.57B
Terminal value as a share of market value 51.7%

It shows which assumption is built into today’s price, not whether that assumption will hold. Every assumption can be changed with the sliders; the figures move with them.

A simplified model calculation — not a forecast and not a recommendation.

AI classification

AI Rating

Uses AI

Host 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.

10-K · 2026-02-25 · View SEC filing

„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

10-K · 2025-02-26 · View SEC filing

„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.

10-K · 2026-02-25 · View SEC filing

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

Earnings calls

What the Earnings Calls Reveal

Host 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.

Unremarkable Reliable near term 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

  • 2023-Q4 — 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. broken
  • 2023-Q4 — 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. kept
  • 2024-Q1 — 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. open
  • 2024-Q3 — 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. kept
  • 2024-Q4 — 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. kept
  • 2024-Q4 — 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. open
  • 2025-Q2 — 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. open
  • 2025-Q4 — 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. kept

Based on public earnings call transcripts. Reviewed: 10 transcripts 2023-Q4 through 2026-Q1. Cross checked against the original transcripts on 3 August 2026.

Growth

Growth Score

Ten checks against the annual reports — each one passed counts a point.

3 of 10 Weak growth
  • Revenue grows by more than 15% a year over three years 7.6%
  • More than 10% revenue growth is expected for the coming year 0.6%
  • Share count grows by less than 3% a year -1.1%
  • Revenue growth plus cash-flow margin add up to at least 40 ("Rule of 40") 21.6%
  • Gross margin at 40% or higher and without meaningful erosion 2.6%
  • Goodwill from acquisitions does not grow faster than revenue 0.0%
  • Net debt below twice EBITDA 2.6 x EBITDA
  • Operating cash flow covers the profits of the last three years 2,239 m
  • Return on capital at 15% or higher, or up versus two years ago 6.4%
  • Insiders hold at least 10% or are net buyers 1.5%

A criterion without figures counts neither as passed nor as failed; a score is only produced from 7 judgeable criteria upwards. Source: fundamental data. All ten criteria in detail

Quality check

AAQS

0/10

The AAQS (AlleAktien Quality Score) checks 10 quality criteria on growth, profitability, and balance-sheet strength — per the methodology developed and published by AlleAktien, calculated by us from our own fundamental data. A stock counts as a quality stock from 9 out of 10 points. Where a company has a shorter listing history, we calculate over the fiscal years available (at least five).

  • Sales growth 10Y > 5% 1.3%
  • Exp. sales growth 3Y > 5% 0.5%
  • EBIT growth 10Y > 5% 2.2%
  • Exp. EBIT growth 3Y > 5% -2.2%
  • Net debt < 4x EBIT 5.9x
  • EBIT positive, 10Y straight 8
  • Max. EBIT decline < 50% 100.0%
  • Return on equity > 15% 11.7%
  • ROCE > 15% 6.4%
  • Expected return > 10% 3.1%

View stocks with the full AAQS score · Read the methodology at AlleAktien

Source: fundamental data

Insiders

Insider Transactions

Reportable transactions by officers and major shareholders from SEC Form 4 filings. "Other" includes things like stock grants and option exercises without a buy/sell character.

Insider Transactions
Date Person Role Type Shares Price Value
Aug 21, 2026 Lentz Michael E EVP, Development, D&C Sell 56,757 23.26 1,320,332
Aug 21, 2026 Tyrrell Nathan S EVP, Ch. Investment Officer Other 4,300 0.00
Aug 19, 2026 Tyrrell Nathan S EVP, Ch. Investment Officer Sell 33,882 23.25 787,757
Aug 19, 2026 Tyrrell Nathan S EVP, Ch. Investment Officer Sell 30,000 23.00 690,000

View all insider transactions →

The company

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
IPO Date
04/06/1983
ISIN
US44107P1049
Stock Split
10215:10000 on 11/04/2009
Stock Split
10000:8910 on 01/02/1996
Stock Split
5:1 on 06/23/1986

Management

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.

Filings

Company Filings (8-K)

An 8-K is the filing a US company must use to disclose material events immediately — takeovers, changes at the top, major contracts or payment troubles, for instance. The links open the original document at the US Securities and Exchange Commission (SEC).

  • 08/05/2026 HOST HOTELS & RESORTS, INC. (HST): Results of Operations and Financial Condition; Financial Statements and Exhibits SEC ↗

Data as of: September 17, 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.

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