Every material Form 8-K Host Hotels & Resorts filed with the SEC in 2024, read and summarized by AI: what happened, the key figures, whether it reads positive or negative for shareholders, and how big a deal it is (impact 1-5). Newest first; each brief links to its own page and to the filing on SEC.gov.
Host reported third-quarter 2024 revenue of $1.319 billion, up 8.6% from a year earlier, while net income fell 25.7% to $84 million and Adjusted EBITDAre fell 10.2% to $324 million, partly due to lower insurance gains and 2023 business interruption proceeds. The company cut its full-year 2024 net income and Adjusted EBITDAre forecast midpoints by $25 million and $15 million, though it kept its comparable hotel RevPAR and Total RevPAR guidance unchanged. Shareholders face lower expected 2024 earnings, with hurricane damage continuing to affect Florida properties into 2025.
Third-quarter revenues were $1.319 billion, up 8.6% from $1.214 billion; diluted EPS was $0.12 versus $0.16.
Full-year 2024 net income guidance midpoint is $687 million, down from $712 million; Adjusted EBITDAre guidance midpoint is $1,630 million, down from $1,645 million.
Comparable hotel Total RevPAR rose 3.1% in the quarter; full-year RevPAR and Total RevPAR guidance was maintained.
The Don CeSar remains closed after Hurricanes Helene and Milton, with a phased reopening expected beginning in late first quarter 2025.
Host Hotels & Resorts' operating partnership completed a $700 million public offering of 5.500% Series L senior notes due 2035 on August 12, 2024. The company plans to use the proceeds to repay all $525 million of revolver borrowings, including amounts used for recent hotel acquisitions, which keeps the credit facility's commitments intact.
Host L.P. sold $700 million of 5.500% Series L senior notes due 2035, completed August 12, 2024
Net proceeds intended to repay all $525 million outstanding under the revolver, without reducing commitments
Borrowings partly tied to recent acquisitions of The Ritz-Carlton O'ahu, Turtle Bay and 1 Hotel Central Park
Notes can be redeemed before January 15, 2035 at the greater of par or a make-whole price set at Treasury plus 30 basis points
Host Hotels & Resorts reported second-quarter 2024 revenue of $1.466 billion, up 5.2%, and net income of $242 million, up 13.1%, with diluted EPS of $0.34 versus $0.29. The company lowered its full-year 2024 guidance, citing a slower Maui recovery and moderating leisure demand, which lowers the midpoints of net income and Adjusted EBITDAre for shareholders.
Q2 2024 revenue was $1.466 billion, up 5.2%, and comparable hotel RevPAR rose 0.1%.
Q2 net income was $242 million, up 13.1%, helped by $53 million more in insurance settlement gains than in Q2 2023.
Full-year 2024 net income guidance is $683 million to $741 million, a $35 million cut at the midpoint versus the prior range of $719 million to $775 million.
Full-year 2024 diluted EPS guidance is $0.95 to $1.03, down $0.05 at the midpoint from $1.00 to $1.08.
Briefs are written by AI from the filing text (each brief's own page names the model) and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the model's reading of the filing for shareholders, not a price forecast. Not investment advice.
Only material 8-Ks get a brief: results, deals, executive changes, restructuring, impairments, delisting notices, restatements, cybersecurity incidents and other disclosed events. Routine filings (vote results, exhibits only) are skipped. Every Host Hotels & Resorts filing is on SEC EDGAR ↗. 8-K briefs of other companies →