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Key Takeaways Host Hotels saw 7% comparable RevPAR growth, with group and transient revenues rising in Q2 2026.HST sold lower-growth assets while acquiring higher-quality hotels with limited near-term capital needs.HST had about $3 billion in liquidity after dividends, supporting capital spending, acquisitions and returns. Host Hotels & Resorts (HST - Free Report) owns a diversified portfolio of luxury and upper-upscale hotels in major urban and resort markets, supporting rate-led growth from leisure, group and business travel.

Analysts seem bullish on this Zacks Rank #2 (Buy) stock. The estimate revision trend for 2026 adjusted funds from operations (AFFO) per share indicates a favorable outlook, with estimates moving north over the past month.

Over the past six months, shares of Host Hotels have increased 15.1%, outperforming the industry’s 2.8% growth. Given its solid fundamentals and positive estimate revisions, the stock is likely to maintain its momentum in the quarters ahead.

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What Makes Host Hotels a Solid Choice?Demand visibility: Host Hotels benefits from a diversified mix of urban, resort and convention properties across top 21 U.S. markets, supporting leisure, group and business demand. In the second quarter of 2026, transient room revenues increased 6.9%, while group room revenues rose 7.4% as both rates and room nights advanced. Definite group room nights on the books for 2026 reached 3.8 million, up 8% since the first quarter of 2026, and total group revenue pace was more than 5% above the same time last year.

In the second quarter of 2026, comparable hotel revenues per available room (RevPAR) rose 7% year over year and comparable hotel Total RevPAR increased 5.9%. Management raised full-year 2026 comparable hotel RevPAR and Total RevPAR growth guidance to 4.75% to 5.25% and expects mid-single-digit RevPAR growth for the remainder of the year. With new supply across Host Hotels’ markets and chain scales near historic lows, the demand mix should support continued rate-led growth beyond event-driven periods.

Accretive capital recycling: Host Hotels continues to sell lower-growth assets with elevated capital needs and redeploy capital toward higher-quality hotels and portfolio reinvestment. In the second quarter of 2026, Host Hotels sold the Sheraton Parsippany Hotel for $12 million.

From 2021 through 2026, dispositions totaled $2.9 billion at a 16.5x EBITDA multiple compared with $3.3 billion of acquisitions at 13.3x. Over that period, Host Hotels disposed of 17 assets and avoided an estimated $710 million of near-term capital spending while acquiring 12 fee-simple assets in six new markets with no notable near-term capital needs. This discipline, combined with Host Hotels’ liquidity and all-cash buying capacity, should preserve flexibility to pursue opportunities without weakening return standards.

Balance sheet flexibility: Host Hotels maintains an investment-grade balance sheet that provides capacity to reinvest and return capital. As of June 30, 2026, total debt was about $5.1 billion, with a weighted average maturity of 4.7 years and a weighted average interest rate of 4.8%. The company had no debt maturities in 2026.

Adjusted for the $630 million regular and special dividend payment in July 2026, total available liquidity was about $3 billion. Net leverage was 2.2x on a credit facility basis after the July 2026 dividend. The consolidated portfolio remained 99% unencumbered. This liquidity profile should allow Host Hotels to fund its 2026 capital program while retaining capacity for acquisitions, dividends and share repurchases.

Capital return through dividends: Host Hotels continues to return capital through regular and special dividends. In July 2026, the company paid a 20 cents-per-share regular quarterly dividend and a 72 cents-per-share special dividend tied to the taxable gain from the Four Seasons dispositions.

Since reintroducing the dividend in 2022, Host Hotels has paid about $3.1 billion in dividends through July 2026. Together, these dividends demonstrate the company’s continued commitment to returning excess capital to shareholders.

Other Stocks to ConsiderSome other top-ranked stocks from the broader REIT sector are Digital Realty Trust (DLR - Free Report) and Welltower (WELL - Free Report) , each carrying a Zacks Rank #2 at present. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

The Zacks Consensus Estimate for DLR’s 2026 FFO per share is pinned at $8.40. This indicates year-over-year growth of 13.67%.

The Zacks Consensus Estimate for WELL’s 2026 FFO per share is pegged at $6.42. This calls for a year-over-year increase of 21.36%.

Note: Anything related to earnings presented in this write-up represents funds from operations (FFO), a widely used metric to gauge the performance of reits.

Here at Zacks, we focus on our proven ranking system, which places an emphasis on earnings estimates and estimate revisions, to find winning stocks. But we also understand that investors develop their own strategies, so we are constantly looking at the latest trends in value, growth, and momentum to find strong companies for our readers.

Of these, perhaps no stock market trend is more popular than value investing, which is a strategy that has proven to be successful in all sorts of market environments. Value investors use tried-and-true metrics and fundamental analysis to find companies that they believe are undervalued at their current share price levels.

Luckily, Zacks has developed its own Style Scores system in an effort to find stocks with specific traits. Value investors will be interested in the system's "Value" category. Stocks with both "A" grades in the Value category and high Zacks Ranks are among the strongest value stocks on the market right now.

One stock to keep an eye on is Host Hotels & Resorts (HST - Free Report) . HST is currently sporting a Zacks Rank #2 (Buy), as well as an A grade for Value. The stock is trading with P/E ratio of 8.84 right now. For comparison, its industry sports an average P/E of 16.31. HST's Forward P/E has been as high as 9.77 and as low as 6.79, with a median of 8.52, all within the past year.

Another notable valuation metric for HST is its P/B ratio of 1.8. The P/B ratio is used to compare a stock's market value with its book value, which is defined as total assets minus total liabilities. This company's current P/B looks solid when compared to its industry's average P/B of 1.93. Over the past year, HST's P/B has been as high as 1.99 and as low as 1.32, with a median of 1.73.

Value investors also frequently use the P/S ratio. This metric is found by dividing a stock's price with the company's revenue. This is a preferred metric because revenue can't really be manipulated, so sales are often a truer performance indicator. HST has a P/S ratio of 2.42. This compares to its industry's average P/S of 3.85.

Finally, investors will want to recognize that HST has a P/CF ratio of 8.31. This metric takes into account a company's operating cash flow and can be used to find stocks that are undervalued based on their solid cash outlook. This stock's P/CF looks attractive against its industry's average P/CF of 15.11. Over the past 52 weeks, HST's P/CF has been as high as 9.04 and as low as 6.05, with a median of 7.87.

These figures are just a handful of the metrics value investors tend to look at, but they help show that Host Hotels & Resorts is likely being undervalued right now. Considering this, as well as the strength of its earnings outlook, HST feels like a great value stock at the moment.

Investors might want to bet on Host Hotels (HST - Free Report) , as it has been recently upgraded to a Zacks Rank #2 (Buy). This rating change essentially reflects an upward trend in earnings estimates -- one of the most powerful forces impacting stock prices.

The Zacks rating relies solely on a company's changing earnings picture. It tracks EPS estimates for the current and following years from the sell-side analysts covering the stock through a consensus measure -- the Zacks Consensus Estimate.

The power of a changing earnings picture in determining near-term stock price movements makes the Zacks rating system highly useful for individual investors, since it can be difficult to make decisions based on rating upgrades by Wall Street analysts. These are mostly driven by subjective factors that are hard to see and measure in real time.

Therefore, the Zacks rating upgrade for Host Hotels basically reflects positivity about its earnings outlook that could translate into buying pressure and an increase in its stock price.

Most Powerful Force Impacting Stock PricesThe change in a company's future earnings potential, as reflected in earnings estimate revisions, and the near-term price movement of its stock are proven to be strongly correlated. That's partly because of the influence of institutional investors that use earnings and earnings estimates for calculating the fair value of a company's shares. An increase or decrease in earnings estimates in their valuation models simply results in higher or lower fair value for a stock, and institutional investors typically buy or sell it. Their transaction of large amounts of shares then leads to price movement for the stock.

For Host Hotels, rising earnings estimates and the consequent rating upgrade fundamentally mean an improvement in the company's underlying business. And investors' appreciation of this improving business trend should push the stock higher.

Harnessing the Power of Earnings Estimate RevisionsAs empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock movements, tracking such revisions for making an investment decision could be truly rewarding. Here is where the tried-and-tested Zacks Rank stock-rating system plays an important role, as it effectively harnesses the power of earnings estimate revisions.

The Zacks Rank stock-rating system, which uses four factors related to earnings estimates to classify stocks into five groups, ranging from Zacks Rank #1 (Strong Buy) to Zacks Rank #5 (Strong Sell), has an impressive externally-audited track record, with Zacks Rank #1 stocks generating an average annual return of +25% since 1988. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here >>>> .

Earnings Estimate Revisions for Host HotelsThis lodging real estate investment trust is expected to earn $2.16 per share for the fiscal year ending December 2026, which represents no year-over-year change.

Analysts have been steadily raising their estimates for Host Hotels. Over the past three months, the Zacks Consensus Estimate for the company has increased 2.4%.

Bottom LineUnlike the overly optimistic Wall Street analysts whose rating systems tend to be weighted toward favorable recommendations, the Zacks rating system maintains an equal proportion of "buy" and "sell" ratings for its entire universe of more than 4,000 stocks at any point in time. Irrespective of market conditions, only the top 5% of the Zacks-covered stocks get a "Strong Buy" rating and the next 15% get a "Buy" rating. So, the placement of a stock in the top 20% of the Zacks-covered stocks indicates its superior earnings estimate revision feature, making it a solid candidate for producing market-beating returns in the near term.

You can learn more about the Zacks Rank here >>>

The upgrade of Host Hotels to a Zacks Rank #2 positions it in the top 20% of the Zacks-covered stocks in terms of estimate revisions, implying that the stock might move higher in the near term.

Bank of New York Mellon Corp purchased a new stake in Host Hotels & Resorts, Inc. (NASDAQ:HST – Free Report) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 6,063,700 shares of the company’s stock, valued at approximately $143,770,000. Bank of New York Mellon Corp owned about 0.89% of Host Hotels & Resorts as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of HST. Zions Bancorporation National Association UT increased its position in Host Hotels & Resorts by 89.1% in the 4th quarter. Zions Bancorporation National Association UT now owns 1,658 shares of the company’s stock valued at $29,000 after acquiring an additional 781 shares during the period. CYBER HORNET ETFs LLC acquired a new position in shares of Host Hotels & Resorts during the second quarter worth $29,000. SJS Investment Consulting Inc. lifted its holdings in shares of Host Hotels & Resorts by 64.7% during the first quarter. SJS Investment Consulting Inc. now owns 1,632 shares of the company’s stock worth $31,000 after purchasing an additional 641 shares during the period. MUFG Securities EMEA plc acquired a new position in shares of Host Hotels & Resorts during the second quarter worth $32,000. Finally, Cedar Mountain Advisors LLC bought a new stake in shares of Host Hotels & Resorts in the first quarter worth $35,000. Institutional investors and hedge funds own 98.52% of the company’s stock.

Host Hotels & Resorts Stock Performance Shares of HST opened at $23.19 on Monday. Host Hotels & Resorts, Inc. has a one year low of $15.61 and a one year high of $25.71. The company has a market cap of $15.89 billion, a PE ratio of 15.46, a P/E/G ratio of 2.57 and a beta of 1.10. The stock has a 50-day moving average of $23.99 and a 200-day moving average of $21.88. The company has a debt-to-equity ratio of 0.80, a current ratio of 2.96 and a quick ratio of 2.96.

Host Hotels & Resorts (NASDAQ:HST – Get Free Report) last posted its quarterly earnings results on Wednesday, August 5th. The company reported $0.63 earnings per share for the quarter, topping analysts’ consensus estimates of $0.62 by $0.01. The business had revenue of $1.64 billion for the quarter, compared to the consensus estimate of $1.62 billion. Host Hotels & Resorts had a return on equity of 15.53% and a net margin of 16.51%.The firm’s revenue for the quarter was up 3.4% on a year-over-year basis. During the same period in the prior year, the business earned $0.58 EPS. Host Hotels & Resorts has set its FY 2026 guidance at 2.150-2.180 EPS. On average, equities research analysts predict that Host Hotels & Resorts, Inc. will post 2.18 EPS for the current fiscal year. Analyst Ratings Changes A number of research firms recently weighed in on HST. Truist Financial increased their price objective on Host Hotels & Resorts from $23.00 to $24.00 and gave the company a “buy” rating in a report on Tuesday, May 26th. Cantor Fitzgerald raised their price target on shares of Host Hotels & Resorts from $23.00 to $24.00 and gave the stock a “neutral” rating in a report on Tuesday, August 11th. Morgan Stanley raised their price target on shares of Host Hotels & Resorts from $20.00 to $22.00 and gave the stock an “equal weight” rating in a report on Tuesday, May 12th. Raymond James Financial restated an “outperform” rating and issued a $27.00 target price on shares of Host Hotels & Resorts in a report on Monday, June 8th. Finally, JPMorgan Chase & Co. upped their price target on shares of Host Hotels & Resorts from $22.00 to $25.00 and gave the company a “neutral” rating in a research report on Tuesday, July 21st. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and six have issued a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $24.33.

Read Our Latest Analysis on HST

Insider Buying and Selling at Host Hotels & Resorts In related news, EVP Nathan S. Tyrrell sold 63,882 shares of the company’s stock in a transaction dated Wednesday, August 19th. The shares were sold at an average price of $23.13, for a total value of $1,477,590.66. Following the sale, the executive vice president owned 618,207 shares in the company, valued at $14,299,127.91. This represents a 9.37% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 1.50% of the stock is owned by corporate insiders.

Host Hotels & Resorts Profile (Free Report)

Host Hotels & Resorts, Inc is a real estate investment trust (REIT) focused on owning and managing premium lodging properties. The company’s portfolio predominantly comprises luxury and upper-upscale hotels and resorts operated under leading global brands. Through strategic acquisitions, dispositions and capital investments, Host Hotels & Resorts seeks to enhance long-term value by aligning property-level operating performance with broader market trends in hospitality demand.

The company’s holdings span major urban, resort and conference destinations across North America, Europe and the Asia-Pacific region.

Further Reading Five stocks we like better than Host Hotels & Resorts VIG, VYM, and VYMI: Which Vanguard Dividend ETF Is Right for You? 3 Closed-End Funds to Maximize Dividend Payments Rocket Lab’s Sell-Off Is Fading—Is It Finally Safe to Buy? $27 Billion in Buybacks: 3 Stocks Betting Their Strong Runs Aren’t Over

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The proven Zacks Rank system focuses on earnings estimates and estimate revisions to find winning stocks. Nevertheless, we know that our readers all have their own perspectives, so we are always looking at the latest trends in value, growth, and momentum to find strong picks.

Of these, perhaps no stock market trend is more popular than value investing, which is a strategy that has proven to be successful in all sorts of market environments. Value investors use a variety of methods, including tried-and-true valuation metrics, to find these stocks.

In addition to the Zacks Rank, investors looking for stocks with specific traits can utilize our Style Scores system. Of course, value investors will be most interested in the system's "Value" category. Stocks with "A" grades for Value and high Zacks Ranks are among the best value stocks available at any given moment.

One company to watch right now is Host Hotels & Resorts (HST - Free Report) . HST is currently holding a Zacks Rank #2 (Buy) and a Value grade of A. The stock is trading with P/E ratio of 8.84 right now. For comparison, its industry sports an average P/E of 16.29. Over the last 12 months, HST's Forward P/E has been as high as 9.77 and as low as 6.79, with a median of 8.52.

Another valuation metric that we should highlight is HST's P/B ratio of 1.8. The P/B ratio pits a stock's market value against its book value, which is defined as total assets minus total liabilities. HST's current P/B looks attractive when compared to its industry's average P/B of 1.81. Over the past 12 months, HST's P/B has been as high as 1.99 and as low as 1.32, with a median of 1.73.

Value investors also frequently use the P/S ratio. This metric is found by dividing a stock's price with the company's revenue. This is a popular metric because sales are harder to manipulate on an income statement, so they are often considered a better performance indicator. HST has a P/S ratio of 2.51. This compares to its industry's average P/S of 4.

Finally, our model also underscores that HST has a P/CF ratio of 8.31. This data point considers a firm's operating cash flow and is frequently used to find companies that are undervalued when considering their solid cash outlook. HST's current P/CF looks attractive when compared to its industry's average P/CF of 14.41. Over the past year, HST's P/CF has been as high as 9.04 and as low as 6.05, with a median of 7.87.

Value investors will likely look at more than just these metrics, but the above data helps show that Host Hotels & Resorts is likely undervalued currently. And when considering the strength of its earnings outlook, HST sticks out as one of the market's strongest value stocks.

3 Hotel REITs Poised to Benefit from the World CupHost Hotels & Resorts NASDAQ: HST reported second-quarter results that exceeded its expectations, supported by broad-based RevPAR growth, strong luxury resort demand, group business and event-driven rate strength.

Adjusted EBITDAre rose 5.8% year over year to $525 million, while adjusted FFO per share increased 8.6% to $0.63, President and Chief Executive Officer Jim Risoleo said during the company’s second-quarter 2026 earnings call. Comparable hotel RevPAR increased 7% from the prior-year quarter and comparable hotel total RevPAR rose 5.9%.

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3 High-Yield Stocks with Major Upside, According to AnalystsComparable hotel EBITDA margin expanded 60 basis points to 31.9%, which the company attributed to rate growth and lower fixed expenses. The results cover Host’s 74-hotel comparable portfolio, excluding the Don CeSar and Sheraton Parsippany, which were sold in June.

Events, Resorts and Group Business Drive Growth Risoleo said the FIFA World Cup contributed an estimated 160 basis points to second-quarter RevPAR growth. In June, RevPAR in Host’s World Cup markets rose 15%, compared with 12% growth in non-World Cup markets. For the full year, the company now expects the World Cup to provide roughly 70 basis points of gross RevPAR growth, up from its prior 60-basis-point estimate.

Transient revenue grew 7%, its strongest increase in seven quarters, led by rate gains as demand remained relatively stable. Major events, citywide compression and leisure demand at luxury resorts supported pricing. Maui, New York and San Francisco led growth, while business-transient markets also improved.

Maui RevPAR rose 14% and total RevPAR increased 11%, with occupancy climbing more than 8 percentage points. Host continues to expect its Maui properties to contribute approximately $120 million of EBITDA in 2026.

Business transient revenue increased 4%, driven by rates. The company reported business-transient room-night growth in New York, Washington, D.C., Chicago and San Diego. At the New York Marriott Marquis, business-transient room nights rose 14%, aided by demand from technology, consulting and finance companies.

Group room revenue increased 7%, split relatively evenly between room-night and rate growth. Host sold 1.1 million group room nights during the quarter, and definite group room nights on the books for 2026 totaled 3.8 million. Total group revenue pace was up more than 5% from the same point last year.

Executive Vice President and Chief Financial Officer Sourav Ghosh said corporate groups accounted for about two-thirds of group revenue growth. Host added approximately 210,000 group room nights during the quarter for the remainder of 2026, compared with 167,000 room nights added for the comparable period last year. Fourth-quarter group pace was nearing 10%, he said.

Food, Beverage and Ancillary Spending Increase Comparable hotel food-and-beverage revenue rose 6%, with banquet and catering revenue up 7%. Washington, D.C., was a major contributor, where banquet and catering revenue increased 45%, aided by newly renovated Hyatt properties.

Outlet revenue increased 4%, supported by resorts, the ramp-up of The View at the New York Marriott Marquis and renovated Hyatt hotels. Maui outlet revenue grew 14%, reflecting occupancy gains at the Andaz Maui and Hyatt Regency Maui.

Other revenue was approximately flat, as higher golf and spa revenue was offset by lower attrition and cancellation revenue against difficult comparisons. Golf revenue rose 9%, driven by Maui and Naples, while spa revenue increased 4%. Ghosh said several resort properties posted double-digit increases in spa capture.

Guidance Raised as July RevPAR Gains Continue Host raised its 2026 comparable hotel RevPAR and total RevPAR growth outlook to a range of 4.75% to 5.25% over 2025. At the midpoint, the forecast assumes 5% RevPAR growth, representing a 125-basis-point improvement from prior guidance.

The company expects comparable hotel RevPAR to rise approximately 10% in July, with only about 3 percentage points of that growth tied to the World Cup. Ghosh said the third and fourth quarters are now expected to produce similar RevPAR growth, although August is expected to have limited growth and September will be affected by a shift in Jewish holidays.

At the midpoint of guidance, Host expects comparable hotel EBITDA margin of 29.7%, up 50 basis points from 2025. Full-year adjusted EBITDAre guidance has a midpoint of $1.83 billion, a $20 million, or 1%, increase from the previous midpoint.

The updated outlook includes a $2.5 million expense benefit from property insurance renewal rates that came in 6% lower than the prior year. Host continues to expect wage rates to increase about 5% in 2026, although Ghosh said total wage and benefit expense growth is lower after productivity improvements.

Capital Allocation and Renovation Programs During the quarter, Host sold the Sheraton Parsippany for approximately $12 million, describing the transaction as part of its strategy to exit lower-growth assets with elevated near-term capital needs. In July, the company paid a regular quarterly dividend of $0.20 per share and a special dividend of $0.72 per share. The special dividend represented the distribution of roughly $500 million in taxable gains from the first-quarter sales of two Four Seasons resorts.

The Hyatt Transformational Capital Program is nearly 90% complete, with renovations finished at five of its six hotels. The remaining Manchester Grand Hyatt San Diego project is expected to be substantially complete by year-end. The second Marriott Transformational Capital Program is about 37% complete and tracking on time and under budget, according to management.

Host expects 2026 capital expenditures of approximately $550 million to $630 million, including $250 million to $285 million for redevelopment, repositioning and return-on-investment projects. The company also reduced its expected 2026 EBITDA from the Four Seasons Orlando condo development to $16 million to $20 million from $20 million to $25 million, citing the timing of remaining unit closings. The difference is expected to be recognized in 2027.

Host ended the period with $3 billion of available liquidity, adjusted for the July dividends, and a leverage ratio of 2.2 times. Risoleo said the company continues to evaluate acquisitions, dispositions, reinvestment, dividends and repurchases, but will remain disciplined on potential transactions.

About Host Hotels & Resorts (NASDAQ:HST)Host Hotels & Resorts, Inc is a real estate investment trust (REIT) focused on owning and managing premium lodging properties. The company's portfolio predominantly comprises luxury and upper-upscale hotels and resorts operated under leading global brands. Through strategic acquisitions, dispositions and capital investments, Host Hotels & Resorts seeks to enhance long-term value by aligning property-level operating performance with broader market trends in hospitality demand.

The company's holdings span major urban, resort and conference destinations across North America, Europe and the Asia-Pacific region.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to [email protected].

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Key Takeaways Host Hotels posted Q2 FFO of 63 cents per share, up 8.6% year over year.RevPAR rose 7% as higher room rates, leisure demand and group business boosted results.Host Hotels raised 2026 RevPAR, EBITDAre and adjusted FFO per-share guidance. Host Hotels & Resorts, Inc. (HST - Free Report) reported second-quarter 2026 adjusted funds from operations (FFO) per share of 63 cents, beating the Zacks Consensus Estimate of 62 cents by 1.6%. The metric increased 8.6% from the prior-year quarter.

Total revenues rose 3.4% year over year to $1.64 billion and surpassed the consensus estimate of $1.62 billion by 1.2%. The results benefited from higher room rates, leisure transient demand and group business, with comparable hotel revenues per available room (RevPAR) increasing 7%.

HST’s Business Mix Supports Revenue GrowthTransient room revenues increased 6.9% to $559 million despite a 0.7% decline in room nights. This indicates that pricing gains more than offset slightly lower transient volume during the second quarter.

Group room revenues rose 7.4% to $332 million as room nights increased 3.5%. Contract room revenues advanced 6.6% to $48 million, accompanied by a 3.4% increase in room nights. Management noted demand remains durable across the portfolio, supported by affluent consumers’ continued prioritization of travel and healthy group demand across many markets.

HST’s Room Rates Drive RevPAR GrowthComparable hotel RevPAR reached $251.53, up from $235.05 a year earlier. The average room rate increased to $335.83 from $317.39, while occupancy improved to 74.9% from 74.1%.

Management attributed the improvement primarily to solid pricing across the portfolio, supported by strong leisure and group travel and demand associated with FIFA World Cup matches. Comparable hotel Total RevPAR advanced 5.9% to $417.58, reflecting room-rate growth and higher food and beverage spending.

HST Expands Hotel EBITDA MarginComparable hotel EBITDA increased 7.8% year over year to $497 million. The corresponding margin expanded 60 basis points (bps) to 31.9% as higher average room rates offset increased wage expense and higher incentive management fees.

Adjusted EBITDAre rose 5.8% to $525 million. GAAP operating profit increased to $293 million from $277 million, producing an operating margin of 17.9%, up 40 bps. Net income advanced 7.1% to $241 million.

HST’s Condo Sales Contribute to ResultsThe sale of seven villas at the development adjacent to Four Seasons Resort Orlando at Walt Disney World Resort contributed $8 million to net income and adjusted EBITDAre. Condominium sales generated $53 million of revenues during the second quarter, with associated cost of goods sold totaling $44 million.

Capital expenditures totaled $243 million through the first half of 2026. HST expects full-year capital expenditures of $550-$630 million, including spending on transformational programs, other return-on-investment projects, renewals and replacements, and property-damage reconstruction.

HST Maintains Strong LiquidityHost Hotels ended the second-quarter with total available liquidity of approximately $3.6 billion. This included $1.5 billion of capacity under its revolving credit facility and $156 million in furniture, fixtures and equipment escrow reserves.

Total debt was $5.1 billion, carrying a weighted average interest rate of 4.8% and a weighted average maturity of 4.7 years. The company had no debt maturities in 2026.

It also paid a 92-cent-per-share dividend in July 2026, comprising a regular dividend of 20 cents and a special dividend of 72 cents.

HST Raises Its 2026 OutlookManagement raised its full-year 2026 comparable hotel RevPAR and Total RevPAR growth guidance to 4.75-5.25%. The prior ranges were 3-4.5% for RevPAR and 3.5-5% for Total RevPAR.

Adjusted EBITDAre increased to $1.82-$1.84 billion from the earlier range of $1.785-$1.835 billion.

HST now expects adjusted FFO per share of $2.15-$2.18, up from its previous projection of $2.10-$2.16. The Zacks Consensus Estimate for adjusted FFO per share is pinned at $2.15.

HST’s Zacks RankHost Hotels currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Performance of Other REITsCousins Properties Inc. (CUZ - Free Report) reported second-quarter 2026 FFO of 75 cents per share, beating the Zacks Consensus Estimate of 74 cents. The metric rose 7.1% from the year-ago quarter.

Rental property revenues increased 11.8% year over year to $265.7 million and surpassed the consensus mark of $263.6 million. The results reflected strong leasing momentum, higher rental revenues and solid same-property NOI growth.

BXP, Inc. (BXP - Free Report) reported second-quarter 2026 FFO of $1.78 per share, beating the Zacks Consensus Estimate of $1.71. The metric rose 4.1% from the year-ago period.

Lease revenues increased 3.2% year over year to $831.68 million and surpassed the consensus mark of $812.49 million. Results reflected higher occupancy and same-property NOI growth, which supported the FFO beat.

Note: Anything related to earnings presented in this write-up represents funds from operations (FFO), a widely used metric to gauge the performance of REITs.

Host Hotels (HST - Free Report) reported $1.64 billion in revenue for the quarter ended June 2026, representing a year-over-year increase of 3.4%. EPS of $0.63 for the same period compares to $0.32 a year ago.

The reported revenue represents a surprise of +1.18% over the Zacks Consensus Estimate of $1.62 billion. With the consensus EPS estimate being $0.62, the EPS surprise was +1.61%.

While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.

Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.

Here is how Host Hotels performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:

Number of Rooms: 40,974 compared to the 40,974 average estimate based on three analysts.RevPAR: $251.53 versus the three-analyst average estimate of $244.77.Number of Properties: 74 compared to the 74 average estimate based on two analysts.Average Room Rate: $335.83 compared to the $341.70 average estimate based on two analysts.Average Occupancy Percentage: 74.9% versus 72.1% estimated by two analysts on average.Revenues- Rooms: $954 million versus the five-analyst average estimate of $957.04 million. The reported number represents a year-over-year change of +0.5%.Revenues- Other: $149 million versus the five-analyst average estimate of $169.75 million. The reported number represents a year-over-year change of -6.3%.Revenues- Food and beverage: $484 million compared to the $489.18 million average estimate based on five analysts. The reported number represents a change of +1.3% year over year.Earnings (loss) per Share- (Diluted): $0.35 versus $0.33 estimated by four analysts on average.View all Key Company Metrics for Host Hotels here>>>

Shares of Host Hotels have returned +7% over the past month versus the Zacks S&P 500 composite's +3.5% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.

Delivered Comparable Hotel RevPAR Growth of 7.0% and Comparable Hotel Total RevPAR Growth of 5.9% 
Raises Full Year 2026 Comparable Hotel Total RevPAR and RevPAR Growth Guidance Ranges to 4.75% to 5.25%

BETHESDA, Md., Aug. 05, 2026 (GLOBE NEWSWIRE) -- Host Hotels & Resorts, Inc. (NASDAQ: HST) (the “Company”), the nation’s largest lodging real estate investment trust (“REIT”), today announced results for the second quarter of 2026.

 OPERATING RESULTS
(unaudited, in millions, except per share and hotel statistics)
           Quarter ended
June 30,
   Year-to-date ended
June 30,
   2026
 2025
 Percent
Change 2026
 2025
 Percent
ChangeRevenues$1,640  $1,586  3.4% $3,285  $3,180  3.3%Comparable hotel revenues⁽¹⁾ 1,558   1,471  5.9%  3,102   2,945  5.3%Comparable hotel Total RevPAR⁽¹⁾ 417.58   394.27  5.9%  417.89   396.95  5.3%Comparable hotel RevPAR⁽¹⁾ 251.53   235.05  7.0%  247.84   234.41  5.7%                Net income$241  $225  7.1% $742  $476  55.9%EBITDAre⁽¹⁾ 519   491  5.7%  1,056   999  5.7%Adjusted EBITDAre⁽¹⁾ 525   496  5.8%  1,068   1,010  5.7%                Diluted earnings per common share$0.35  $0.32  9.4% $1.06  $0.67  58.2%NAREIT FFO per diluted share⁽¹⁾ 0.62   0.57  8.8%  1.28   1.20  6.7%Adjusted FFO per diluted share⁽¹⁾ 0.63   0.58  8.6%  1.30   1.21  7.4% * Additional detail on the Company’s results, including data for 24 domestic markets, is available in the Second Quarter 2026 Supplemental Financial Information on the Company’s website at www.hosthotels.com.

James F. Risoleo, President and Chief Executive Officer, said, “We are pleased to have delivered a strong second quarter underscoring the success of our capital allocation strategy, the quality of our portfolio, and the continued benefits of reinvesting in our assets. We achieved comparable hotel RevPAR growth of 7.0% for the quarter, driven by solid rate growth across the portfolio, bolstered by the World Cup and broad-based strength in leisure transient demand and group business. Comparable hotel Total RevPAR grew 5.9% year-over-year, driven by leisure transient business as well as increases in food and beverage revenues.

Risoleo continued, "We are encouraged by the durability of demand across our portfolio, as affluent consumers continue to prioritize travel and group demand remains healthy across many of our markets. As a result, we are increasing our 2026 comparable hotel Total RevPAR and RevPAR growth guidance ranges to 4.75% to 5.25% over 2025. We believe our investment-grade balance sheet, strong liquidity, and a diversified portfolio position Host to deliver long-term value, capitalize on favorable industry fundamentals, and selectively pursue growth opportunities.”

_______________________________

(1)NAREIT Funds From Operations (“FFO”) per diluted share, Adjusted FFO per diluted share, EBITDAre, Adjusted EBITDAre and comparable hotel revenues are non-GAAP (U.S. generally accepted accounting principles) financial measures within the meaning of the rules of the Securities and Exchange Commission (“SEC”). See the Notes to Financial Information on why the Company believes these supplemental measures are useful, reconciliations to the most directly comparable GAAP measure, and the limitations on the use of these supplemental measures. Additionally, comparable hotel results and statistics include adjustments for dispositions, acquisitions and non-comparable hotels. See Hotel Operating Data for RevPAR results of the portfolio based on the Company's ownership period without these adjustments.   HIGHLIGHTS:

Comparable hotel Total RevPAR was $417.58 for the second quarter of 2026, an increase of 5.9% compared to the same period in 2025, driven by increases in room rates and continued growth in food and beverage spend. Growth was broad-based and improved throughout the quarter with markets both hosting and not hosting FIFA World Cup matches demonstrating solid revenue performance. Comparable hotel Total RevPAR year-to-date in 2026 was $417.89, an increase of 5.3%.Comparable hotel RevPAR was $251.53, an increase of 7.0%, compared to the same period in 2025, primarily due to increases in room rates, driven by strong transient leisure business, particularly at resorts and in connection with the FIFA World Cup matches, and robust group business. Comparable hotel RevPAR year-to-date in 2026 was $247.84, an increase of 5.7%.GAAP net income was $241 million, a 7.1% increase compared to the second quarter of 2025, reflecting GAAP operating profit margin of 17.9%, an improvement of 40 basis points compared to the second quarter of 2025, as higher room rates offset wage expense increases and a $9 million decrease in net gains on insurance settlements. Year-to-date, GAAP net income was $742 million, a 55.9% increase compared to 2025, benefitting from gains on asset sales and GAAP operating profit margin of 18.6%, an improvement of 90 basis points compared to 2025.Comparable hotel EBITDA was $497 million, an increase of 7.8% compared to the second quarter of 2025, reflecting a comparable hotel EBITDA margin increase of 60 basis points to 31.9% due to improvements in operations, largely driven by average room rate increases, which offset increases in wage expense, higher incentive management fees, and reductions in operating profit guarantee payments and attrition and cancellation fees over the same period in 2025. Year-to-date, comparable hotel EBITDA was $1,002 million, an increase of 7.4% compared to 2025, while comparable hotel EBITDA margin increased 60 basis points to 32.3%.Adjusted EBITDAre was $525 million, an increase of 5.8% compared to the second quarter of 2025. Results benefited from improved operations and comparable hotel EBITDA margins, which more than offset declines due to the sale of six hotels in 2025 and 2026. In addition, the sale of seven villas at the recently completed development adjacent to the Four Seasons Resort Orlando at Walt Disney World® Resort contributed $8 million to net income and Adjusted EBITDAre. Year-to-date Adjusted EBITDAre was $1,068 million, exceeding 2025 by 5.7%. BALANCE SHEET

The Company maintains a robust balance sheet, with the following balances at June 30, 2026:

Total assets of $13.3 billion.Debt balance of $5.1 billion, with a weighted average maturity of 4.7 years, a weighted average interest rate of 4.8%, and no maturities in 2026.Total available liquidity of approximately $3.6 billion, including furniture, fixtures and equipment escrow reserves of $156 million and $1.5 billion available under the revolver portion of the credit facility. The payment of the second quarter regular and special dividend on July 15 reduced the cash balance by $630 million. DIVIDENDS

The Company paid a second quarter common stock cash dividend of $0.92 per share on July 15, 2026 to stockholders of record on June 30, 2026. The dividend included a $0.72 per share special dividend representing the distribution of the approximately $500 million taxable gain resulting from the Four Seasons sales completed in the first quarter of 2026. All future dividends, including any special dividends, are subject to approval by the Company’s Board of Directors.

HOTEL BUSINESS MIX UPDATE

The Company’s customers fall into three broad groups: transient, group and contract business, which accounted for approximately 61%, 34%, and 5%, respectively, of its full year 2025 room sales.

The following are the results for transient, group and contract business in comparison to 2025 performance, for the Company's current portfolio:

 Quarter ended June 30, 2026 Year-to-date ended June 30, 2026 Transient Group Contract Transient Group ContractRoom nights (in thousands) 1,487   1,093   215   2,773   2,199   419 Percent change in room nights vs. same period in 2025 (0.7%)  3.5%  3.4%  (0.6%)  2.1%  5.6%Rooms revenues (in millions)$559  $332  $48  $1,057  $688  $95 Percent change in revenues vs. same period in 2025 6.9%  7.4%  6.6%  6.2%  4.8%  8.5%                         CAPITAL EXPENDITURES

The following presents the Company’s capital expenditures spend through the second quarter of 2026 and the forecast for the full year 2026 (in millions):

 Year-to-date
ended June 30,
2026
 2026 Full Year Forecast
          Actual
 Low-end of
range
 High-end of
range
ROI - Marriott and Hyatt Transformational Capital Programs$73  $175  $200 All other return on investment ("ROI") projects 30   75   85 Total ROI Projects 103   250   285 Renewals and Replacements ("R&R") 138   275   315 R&R and ROI Capital expenditures 241   525   600 R&R - Property Damage Reconstruction 2   25   30 Total Capital Expenditures$243  $550  $630          Inventory spend for condo development(1) 16   17   17 Total capital allocation$259  $567  $647              __________

(1)Represents construction costs for the development of condominium units on a land parcel adjacent to Four Seasons Resort Orlando at Walt Disney World® Resort. Under GAAP, costs to develop units for resale are considered an operating activity on the statement of cash flows, and categorized as inventory. This spend is separate from payments for capital expenditures, which are considered investing activities.   The forecast property damage reconstruction includes estimated spend for damage caused by the Kona Low rainstorm to the Company's properties in Hawaii in March 2026. Remediation efforts are substantially complete, and the hotels remained operational with isolated instances of water damage. The Company is still evaluating the complete property and business interruption impacts of the storm, but currently estimates the total property costs to be approximately $27 million to $32 million, which includes remediation costs of approximately $2 million. The Company expects its insurance coverage to substantially cover the property damage in excess of the insurance deductible.

Under the Hyatt and Marriott Transformational Capital Programs, the Company received $5 million of operating guarantees in the second quarter of 2026 to offset expected business disruption. The Company expects to receive a total of $19 million of operating guarantees in 2026 under the two programs. The transformational renovation at the Grand Hyatt Washington was completed in the second quarter of 2026.

2026 OUTLOOK

In the first half of 2026, the Company saw strong leisure and group demand, which drove an increase in rates. Comparable hotel RevPAR for July also grew approximately 10% over 2025, with a continued boost from the FIFA World Cup games. The 2026 guidance range includes the benefits from the FIFA World Cup as well as improved expectations in the second half of the year driven by leisure demand and modest improvements to short-term group booking trends. Full year operating profit margins and comparable hotel EBITDA margins are expected to increase slightly compared to 2025, as first half rate improvements offset increases in wage expense, while year-over-year comparisons are expected to moderate, primarily due to lower room rate growth expectations in the second half of the year.

In comparison to 2025, the guidance reflects a reduction in earnings due to the 2026 and 2025 dispositions. The guidance for net income and Adjusted EBITDAre also includes an estimated $16 million to $20 million net contribution from total sales expected to close at the condominium development adjacent to the Four Seasons Resort Orlando at Walt Disney World® Resort this year, and remaining sales expected to shift into 2027. Additionally, the final determination on insurance claims related to Hurricanes Helene and Milton is expected in 2026, but no additional amounts from what was received in first quarter are included in guidance.

The Company anticipates its 2026 operating results as compared to 2025 will be in the following range:

 Current Full Year
2026 Guidance Current Full Year
2026 Guidance
Change vs. 2025 Previous Full Year
2026 Guidance
Change vs. 2025 Change in Full Year
2026 Guidance to
the Mid-PointComparable hotel Total RevPAR$391 to $392 4.75% to 5.25% 3.5% to 5.0% 75 bpsComparable hotel RevPAR$234 to $235 4.75% to 5.25% 3.0% to 4.5% 125 bpsTotal revenues under GAAP (in millions)$6,124 to $6,153 0.2% to 0.6% (0.3%) to 1.1% 0 bpsOperating profit margin under GAAP14.9% to 15.1% 90 bps to 110 bps 40 bps to 110 bps 20 bpsComparable hotel EBITDA margin29.6% to 29.7% 40 bps to 50 bps 20 bps to 50 bps 20 bps         Based upon the above parameters, the Company estimates its 2026 guidance as follows:

 Current Full Year
2026 Guidance Previous Full Year
2026 Guidance Change in Full Year
2026 Guidance to
the Mid-PointNet income (in millions)$944 to $962 $908 to $955 $21Adjusted EBITDAre (in millions)$1,820 to $1,840 $1,785 to $1,835 $20Diluted earnings per common share$1.35 to $1.38 $1.30 to $1.37 $0.04NAREIT FFO per diluted share$2.11 to $2.14 $2.06 to $2.12 $0.02Adjusted FFO per diluted share$2.15 to $2.18 $2.10 to $2.16 $0.03       See the 2026 Forecast Schedules and the Notes to Financial Information for items that may affect forecast results and the Second Quarter 2026 Supplemental Financial Information for additional detail on the mid-point of full year 2026 guidance.

ABOUT HOST HOTELS & RESORTS

Host Hotels & Resorts, Inc. is an S&P 500 company and is the largest lodging real estate investment trust and one of the largest owners of luxury and upper-upscale hotels. The Company currently owns 70 properties in the United States and five properties internationally totaling approximately 41,300 rooms. The Company also holds non-controlling interests in seven domestic joint ventures. Guided by a disciplined approach to capital allocation and aggressive asset management, the Company partners with premium brands such as Marriott®, Ritz-Carlton®, Westin®, W®, The Luxury Collection®, Hyatt®, Fairmont®, 1 Hotels®, Hilton®, Swissôtel®, ibis® and Novotel®, as well as independent brands. For additional information, please visit the Company’s website at www.hosthotels.com.

Note: This press release contains forward-looking statements within the meaning of federal securities regulations. These forward-looking statements include, but may not be limited to, our expectations regarding the strength of lodging demand, the continued recovery in Maui from the 2023 wildfires, and 2026 estimates with respect to our business, including our anticipated capital expenditures and financial and operating results. Forward-looking statements are not guarantees of future performance and involve known and unknown risks, uncertainties and other factors which may cause the actual results to differ materially from those anticipated at the time the forward-looking statements are made. These risks include, but are not limited to, those described in the Company’s annual report on Form 10-K and other filings with the SEC. Although the Company believes the expectations reflected in such forward-looking statements are based upon reasonable assumptions, it can give no assurance that the expectations will be attained or that any deviation will not be material. All information in this release is as of August 5, 2026, and the Company undertakes no obligation to update any forward-looking statement to conform the statement to actual results or changes in the Company’s expectations.

* This press release contains registered trademarks that are the exclusive property of their respective owners. None of the owners of these trademarks have any responsibility or liability for any information contained in this press release.

*** Tables to Follow ***

Host Hotels & Resorts, Inc., herein referred to as “we,” “Host Inc.,” or the “Company,” is a self-managed and self-administered real estate investment trust that owns hotel properties. We conduct our operations as an umbrella partnership REIT through an operating partnership, Host Hotels & Resorts, L.P. (“Host LP”), of which we are the sole general partner. When distinguishing between Host Inc. and Host LP, the primary difference is approximately 1% of the partnership interests in Host LP held by outside partners as of June 30, 2026, which are non-controlling interests in Host LP in our consolidated balance sheets and are included in net (income) loss attributable to non-controlling interests in our condensed consolidated statements of operations. Readers are encouraged to find further detail regarding our organizational structure in our annual report on Form 10-K.

    HOST HOTELS & RESORTS, INC.
Condensed Consolidated Balance Sheets
(unaudited, in millions, except shares and per share amounts)     June 30,
2026 December 31, 2025    ASSETSProperty and equipment, net$9,639  $10,636 Right-of-use assets 560   560 Assets held for sale —   34 Due from managers 110   39 Advances to and investments in affiliates 299   259 Furniture, fixtures and equipment replacement fund 156   167 Notes receivable 114   114 Other 422   472 Cash and cash equivalents 1,953   768 Total assets$13,253  $13,049     LIABILITIES, NON-CONTROLLING INTERESTS AND EQUITYDebt⁽¹⁾   Senior notes$3,990  $3,986 Credit facility, including the term loans of $999 998   996 Mortgage and other debt 94   95 Total debt 5,082   5,077 Lease liabilities 563   563 Accounts payable and accrued expenses 736   355 Due to managers 9   76 Other 245   246 Total liabilities 6,635   6,317     Redeemable non-controlling interests - Host Hotels & Resorts, L.P. 226   171     Host Hotels & Resorts, Inc. stockholders’ equity:   Common stock, par value $0.01, 1,050 million shares authorized, 685.0 million shares and 687.8 million shares issued and outstanding, respectively 7   7 Additional paid-in capital 7,159   7,289 Accumulated other comprehensive loss (66)  (68)Deficit (712)  (670)Total equity of Host Hotels & Resorts, Inc. stockholders 6,388   6,558 Non-redeemable non-controlling interests—other consolidated partnerships 4   3 Total equity 6,392   6,561 Total liabilities, non-controlling interests and equity$13,253  $13,049  __________

 (1)Please see our Second Quarter 2026 Supplemental Financial Information for more detail on our debt balances and financial covenant ratios under our credit facility and senior notes indentures.   HOST HOTELS & RESORTS, INC.
Condensed Consolidated Statements of Operations
(unaudited, in millions, except per share amounts)     Quarter ended
June 30, Year-to-date ended June 30, 2026 2025 2026 2025Revenues       Rooms$954  $949  $1,897  $1,887 Food and beverage 484   478   1,001   981 Other 149   159   308   312 Condominium sales 53   —   79   — Total revenues 1,640   1,586   3,285   3,180 Expenses       Rooms 231   233   455   458 Food and beverage 311   313   638   636 Other departmental and support expenses 371   375   744   739 Management fees 74   70   141   139 Other property-level expenses 94   107   197   218 Depreciation and amortization 193   195   383   391 Cost of goods sold 44   —   65   — Corporate and other expenses⁽¹⁾ 29   25   57   56 Net gain on insurance settlements —   (9)  (7)  (19)Total operating costs and expenses 1,347   1,309   2,673   2,618 Operating profit 293   277   612   562 Interest income 18   7   30   15 Interest expense (58)  (58)  (117)  (115)Other gains (losses) (1)  22   241   26 Equity in earnings of affiliates 7   4   11   14 Income before income taxes 259   252   777   502 Provision for income taxes (18)  (27)  (35)  (26)Net income 241   225   742   476 Less: Net income attributable to non-controlling interests (4)  (4)  (11)  (7)Net income attributable to Host Inc.$237  $221  $731  $469 Basic earnings per common share$0.35  $0.32  $1.07  $0.68 Diluted earnings per common share$0.35  $0.32  $1.06  $0.67  ___________

(1)Corporate and other expenses include the following items:           Quarter ended
June 30,
 Year-to-date ended June 30,
 2026
 2025
 2026
 2025
General and administrative costs$23  $20  $45  $45 Non-cash stock-based compensation expense 6   5   12   11 Total$29  $25  $57  $56  HOST HOTELS & RESORTS, INC.
Earnings per Common Share
(unaudited, in millions, except per share amounts)     Quarter ended June 30, Year-to-date ended June 30, 2026 2025 2026 2025Net income$241  $225  $742  $476 Less: Net income attributable to non-controlling interests (4)  (4)  (11)  (7)Net income attributable to Host Inc.$237  $221  $731  $469         Basic weighted average shares outstanding 684.9   692.5   686.2   695.2 Assuming distribution of common shares granted under the comprehensive stock plans, less shares assumed purchased at market 2.1   1.4   1.9   1.5 Diluted weighted average shares outstanding⁽¹⁾ 687.0   693.9   688.1   696.7 Basic earnings per common share$0.35  $0.32  $1.07  $0.68 Diluted earnings per common share$0.35  $0.32  $1.06  $0.67  ___________

(1)Dilutive securities may include shares granted under comprehensive stock plans, preferred operating partnership units (“OP Units”) held by non-controlling limited partners and other non-controlling interests that have the option to convert their limited partnership interests to common OP Units. No effect is shown for any securities that were anti-dilutive for the period.   HOST HOTELS & RESORTS, INC.Hotel Operating Data for Consolidated Hotels Comparable Hotel Results by Location(1)  As of June 30, 2026 Quarter ended June 30, 2026 Quarter ended June 30, 2025    LocationNo. of
Properties No. of
Rooms Average
Room Rate Average
Occupancy
Percentage RevPAR Total RevPAR Average
Room Rate Average
Occupancy
Percentage RevPAR Total RevPAR Percent
Change in
RevPAR Percent
Change in
Total RevPARMiami2  1,038  $616.76  74.9% $461.81  $793.41  $539.89  75.7% $408.45  $732.84  13.1% 8.3%Maui3  1,580   638.22  78.7%  502.56   799.78   626.40  70.6%  442.40   723.40  13.6% 10.6%Jacksonville1  446   630.70  81.3%  512.97   1,115.48   591.43  83.3%  492.44   1,100.34  4.2% 1.4%Florida Gulf Coast4  1,529   514.48  70.7%  363.86   793.99   471.48  71.2%  335.60   755.64  8.4% 5.1%Oahu2  876   495.33  81.3%  402.80   679.39   483.12  83.1%  401.38   608.74  0.4% 11.6%Phoenix3  1,565   403.93  68.8%  277.92   660.16   374.07  71.6%  267.76   659.33  3.8% 0.1%New York3  2,720   437.16  89.2%  389.80   572.39   409.04  89.7%  366.84   542.26  6.3% 5.6%Nashville2  721   381.10  84.3%  321.34   540.78   359.88  84.2%  303.14   507.51  6.0% 6.6%Los Angeles/Orange County3  1,067   327.75  76.8%  251.76   381.15   300.14  78.6%  235.89   361.04  6.7% 5.6%San Diego3  3,294   310.67  78.0%  242.20   447.47   302.46  78.9%  238.56   448.16  1.5% (0.2%)Washington, D.C. (CBD)4  2,788   336.12  77.3%  259.86   377.17   332.88  67.0%  223.12   313.23  16.5% 20.4%San Francisco/San Jose6  4,162   264.77  73.4%  194.22   279.47   244.24  72.4%  176.83   266.41  9.8% 4.9%Boston2  1,496   349.78  79.4%  277.73   354.77   329.47  82.3%  271.06   337.00  2.5% 5.3%Northern Virginia2  916   291.01  75.8%  220.55   337.27   280.77  67.8%  190.41   297.05  15.8% 13.5%Philadelphia2  810   283.74  83.3%  236.29   355.28   256.55  85.5%  219.35   325.22  7.7% 9.2%Orlando1  2,004   243.69  67.7%  164.97   423.75   235.65  72.3%  170.30   424.67  (3.1%) (0.2%)Austin2  769   246.75  69.8%  172.16   329.71   228.65  48.7%  111.26   214.94  54.7% 53.4%Chicago3  1,562   286.67  83.7%  239.87   340.59   271.79  78.9%  214.31   303.52  11.9% 12.2%Houston4  1,710   220.55  68.3%  150.69   204.83   211.13  69.2%  146.16   199.15  3.1% 2.9%Atlanta2  810   229.73  71.3%  163.81   276.00   217.16  68.3%  148.32   258.74  10.4% 6.7%San Antonio2  1,512   228.58  65.9%  150.73   231.44   231.54  61.1%  141.42   222.13  6.6% 4.2%Seattle2  1,315   259.80  72.6%  188.68   258.45   249.43  77.6%  193.66   268.21  (2.6%) (3.6%)New Orleans1  1,333   195.91  63.3%  123.98   205.21   201.72  66.0%  133.12   217.44  (6.9%) (5.6%)Denver3  1,342   211.99  68.6%  145.45   219.33   209.77  71.2%  149.35   231.44  (2.6%) (5.2%)Other7  2,110   295.45  74.3%  219.48   332.71   275.92  75.7%  208.76   317.32  5.1% 4.9%Domestic69  39,475   339.81  75.2%  255.42   425.08   321.66  74.2%  238.66   401.41  7.0% 5.9%                                International5  1,499   219.64  67.8%  149.01   219.29   198.72  70.5%  140.01   205.53  6.4% 6.7%All Locations74  40,974  $335.83  74.9% $251.53  $417.58  $317.39  74.1% $235.05  $394.27  7.0% 5.9% ___________

(1)See the Notes to Financial Information for a discussion of comparable hotel operating statistics. CBD of a location refers to the central business district. Hotel RevPAR is calculated as room revenues divided by the available room nights. Hotel Total RevPAR is calculated by dividing the sum of rooms, food and beverage and other revenues by the available room nights.   Comparable Hotel Results by Location(1)

 As of June 30, 2026 Year-to-date ended June 30, 2026 Year-to-date ended June 30, 2025    LocationNo. of
Properties No. of
Rooms Average
Room Rate Average
Occupancy
Percentage RevPAR Total RevPAR Average
Room Rate Average
Occupancy
Percentage RevPAR Total RevPAR Percent
Change in
RevPAR Percent
Change in
Total RevPARMiami2  1,038  $673.81  81.0% $545.85  $930.88  $599.00  79.8% $478.27  $826.47  14.1% 12.6%Maui3  1,580   653.02  78.4%  511.68   800.33   655.80  72.8%  477.53   755.82  7.2% 5.9%Jacksonville1  446   600.19  77.3%  464.05   1,053.06   561.58  75.7%  425.07   965.27  9.2% 9.1%Florida Gulf Coast4  1,529   608.76  74.9%  456.15   975.21   559.53  76.3%  427.18   928.82  6.8% 5.0%Oahu2  876   495.30  79.0%  391.44   625.92   483.39  83.4%  403.28   617.09  (2.9%) 1.4%Phoenix3  1,565   472.02  75.9%  358.47   790.62   441.07  76.4%  337.14   774.12  6.3% 2.1%New York3  2,720   393.13  84.8%  333.54   495.64   371.30  84.4%  313.21   462.74  6.5% 7.1%Nashville2  721   361.24  80.5%  290.86   493.61   342.91  82.3%  282.25   479.52  3.0% 2.9%Los Angeles/Orange County3  1,067   321.24  77.7%  249.55   373.11   305.62  78.9%  241.11   364.68  3.5% 2.3%San Diego3  3,294   311.73  76.5%  238.61   455.25   302.22  75.8%  229.13   440.88  4.1% 3.3%Washington, D.C. (CBD)4  2,788   321.87  70.1%  225.77   334.66   333.15  67.1%  223.51   320.88  1.0% 4.3%San Francisco/San Jose6  4,162   303.55  71.5%  216.93   312.99   270.28  68.0%  183.90   276.02  18.0% 13.4%Boston2  1,496   303.85  69.5%  211.11   290.06   288.08  73.6%  212.12   280.32  (0.5%) 3.5%Northern Virginia2  916   280.37  72.5%  203.24   312.46   276.19  66.6%  184.04   293.21  10.4% 6.6%Philadelphia2  810   255.68  79.3%  202.83   306.03   238.28  81.1%  193.36   293.01  4.9% 4.4%Orlando1  2,004   256.74  71.9%  184.70   465.92   248.19  73.6%  182.65   456.29  1.1% 2.1%Austin2  769   258.69  68.7%  177.67   330.14   250.94  58.0%  145.46   269.61  22.1% 22.4%Chicago3  1,562   246.91  67.8%  167.52   243.35   237.69  66.0%  156.86   226.03  6.8% 7.7%Houston4  1,710   225.00  71.5%  160.92   220.30   215.87  71.8%  154.89   216.34  3.9% 1.8%Atlanta2  810   226.33  69.8%  158.01   274.07   219.91  67.8%  149.07   257.84  6.0% 6.3%San Antonio2  1,512   235.02  65.5%  153.94   248.65   230.63  63.7%  146.88   237.17  4.8% 4.8%Seattle2  1,315   238.46  64.0%  152.70   212.26   234.08  66.2%  155.07   214.18  (1.5%) (0.9%)New Orleans1  1,333   200.17  63.7%  127.41   212.03   229.88  68.7%  157.87   247.55  (19.3%) (14.3%)Denver3  1,342   201.44  62.0%  124.95   193.16   198.40  63.4%  125.86   195.77  (0.7%) (1.3%)Other7  2,110   301.03  70.5%  212.29   316.30   288.63  70.1%  202.27   304.37  5.0% 3.9%Domestic69  39,475   345.75  72.9%  252.14   426.41   330.33  72.2%  238.66   405.47  5.6% 5.2%                                International5  1,499   209.22  64.3%  134.59   192.47   186.40  65.7%  122.54   171.41  9.8% 12.3%All Locations74  40,974  $341.33  72.6% $247.84  $417.89  $325.53  72.0% $234.41  $396.95  5.7% 5.3% ___________

(1)  See the Notes to Financial Information for a discussion of comparable hotel operating statistics. CBD of a location refers to the central business district. Hotel RevPAR is calculated as room revenues divided by the available room nights. Hotel Total RevPAR is calculated by dividing the sum of rooms, food and beverage and other revenues by the available room nights.

Results by Location - actual, based on ownership period(1)

 As of June 30,                           2026 2025 Quarter ended June 30, 2026 Quarter ended June 30, 2025    LocationNo. of
Properties No. of
Properties Average
Room Rate Average
Occupancy
Percentage RevPAR Total RevPAR Average
Room Rate Average
Occupancy
Percentage RevPAR Total RevPAR Percent
Change in
RevPAR Percent
Change in
Total RevPARMiami2  2  $616.76  74.9% $461.81  $793.41  $539.89  75.7% $408.45  $732.84  13.1% 8.3%Maui3  3   638.22  78.7%  502.56   799.78   626.40  70.6%  442.40   723.40  13.6% 10.6%Jacksonville1  1   630.70  81.3%  512.97   1,115.48   591.43  83.3%  492.44   1,100.34  4.2% 1.4%Florida Gulf Coast5  5   506.96  72.8%  369.21   794.19   463.61  70.4%  326.40   709.67  13.1% 11.9%Oahu2  2   495.33  81.3%  402.80   679.39   483.12  83.1%  401.38   608.74  0.4% 11.6%Phoenix3  3   403.93  68.8%  277.92   660.16   374.07  71.6%  267.76   659.33  3.8% 0.1%New York3  3   437.16  89.2%  389.80   572.39   409.04  89.7%  366.84   542.26  6.3% 5.6%Nashville2  2   381.10  84.3%  321.34   540.78   359.88  84.2%  303.14   507.51  6.0% 6.6%Los Angeles/Orange County3  3   327.75  76.8%  251.76   381.15   300.14  78.6%  235.89   361.04  6.7% 5.6%San Diego3  3   310.67  78.0%  242.20   447.47   302.46  78.9%  238.56   448.16  1.5% (0.2%)Washington, D.C. (CBD)4  5   336.12  77.3%  259.86   377.17   331.57  69.4%  230.04   319.10  13.0% 18.2%San Francisco/San Jose6  6   264.77  73.4%  194.22   279.47   244.24  72.4%  176.83   266.41  9.8% 4.9%Boston2  2   349.78  79.4%  277.73   354.77   329.47  82.3%  271.06   337.00  2.5% 5.3%Northern Virginia2  2   291.01  75.8%  220.55   337.27   280.77  67.8%  190.41   297.05  15.8% 13.5%Philadelphia2  2   283.74  83.3%  236.29   355.28   256.55  85.5%  219.35   325.22  7.7% 9.2%Orlando1  2   243.69  67.7%  164.97   423.75   400.73  71.1%  285.05   592.11  (42.1%) (28.4%)Austin2  2   246.75  69.8%  172.16   329.71   228.65  48.7%  111.26   214.94  54.7% 53.4%Chicago3  3   286.67  83.7%  239.87   340.59   271.79  78.9%  214.31   303.52  11.9% 12.2%Houston4  5   220.55  68.3%  150.69   204.83   223.43  66.8%  149.18   207.36  1.0% (1.2%)Atlanta2  2   229.73  71.3%  163.81   276.00   217.16  68.3%  148.32   258.74  10.4% 6.7%San Antonio2  2   228.58  65.9%  150.73   231.44   231.54  61.1%  141.42   222.13  6.6% 4.2%Seattle2  2   259.80  72.6%  188.68   258.45   249.43  77.6%  193.66   268.21  (2.6%) (3.6%)New Orleans1  1   195.91  63.3%  123.98   205.21   201.72  66.0%  133.12   217.44  (6.9%) (5.6%)Denver3  3   211.99  68.6%  145.45   219.33   209.77  71.2%  149.35   231.44  (2.6%) (5.2%)Other7  9   280.14  71.9%  201.47   304.38   281.32  71.4%  200.88   307.38  0.3% (1.0%)Domestic70  75   339.95  75.1%  255.21   425.78   330.65  73.7%  243.80   408.52  4.7% 4.2%                                International5  5   219.64  67.8%  149.01   219.29   198.72  70.5%  140.01   205.53  6.4% 6.7%All Locations75  80  $336.03  74.8% $251.39  $418.38  $326.28  73.6% $240.22  $401.52  4.7% 4.2% ___________

(1)Represents the results of the portfolio for the time period of our ownership, including the results of non-comparable properties, dispositions through their date of disposal and acquisitions beginning as of the date of acquisition.   Results by Location - actual, based on ownership period(1)

 As of June 30,                           2026 2025 Year-to-date ended June 30, 2026 Year-to-date ended June 30, 2025    LocationNo. of
Properties No. of
Properties Average
Room Rate Average
Occupancy
Percentage RevPAR Total RevPAR Average
Room Rate Average
Occupancy
Percentage RevPAR Total RevPAR Percent
Change in
RevPAR Percent
Change in
Total RevPARMiami2  2  $673.81  81.0% $545.85  $930.88  $599.00  79.8% $478.27  $826.47  14.1% 12.6%Maui3  3   653.02  78.4%  511.68   800.33   655.80  72.8%  477.53   755.82  7.2% 5.9%Jacksonville1  1   600.19  77.3%  464.05   1,053.06   561.58  75.7%  425.07   965.27  9.2% 9.1%Florida Gulf Coast5  5   585.81  75.7%  443.69   938.69   543.85  69.9%  380.32   811.16  16.7% 15.7%Oahu2  2   495.30  79.0%  391.44   625.92   483.39  83.4%  403.28   617.09  (2.9%) 1.4%Phoenix3  3   472.02  75.9%  358.47   790.62   441.07  76.4%  337.14   774.12  6.3% 2.1%New York3  3   393.13  84.8%  333.54   495.64   371.30  84.4%  313.21   462.74  6.5% 7.1%Nashville2  2   361.24  80.5%  290.86   493.61   342.91  82.3%  282.25   479.52  3.0% 2.9%Los Angeles/Orange County3  3   321.24  77.7%  249.55   373.11   305.62  78.9%  241.11   364.68  3.5% 2.3%San Diego3  3   311.73  76.5%  238.61   455.25   302.22  75.8%  229.13   440.88  4.1% 3.3%Washington, D.C. (CBD)4  5   321.87  70.1%  225.77   334.66   329.87  68.7%  226.66   320.93  (0.4%) 4.3%San Francisco/San Jose6  6   303.55  71.5%  216.93   312.99   270.28  68.0%  183.90   276.02  18.0% 13.4%Boston2  2   303.85  69.5%  211.11   290.06   288.08  73.6%  212.12   280.32  (0.5%) 3.5%Northern Virginia2  2   280.37  72.5%  203.24   312.46   276.19  66.6%  184.04   293.21  10.4% 6.6%Philadelphia2  2   255.68  79.3%  202.83   306.03   238.28  81.1%  193.36   293.01  4.9% 4.4%Orlando1  2   304.74  71.3%  217.21   514.18   418.44  72.2%  302.25   625.94  (28.1%) (17.9%)Austin2  2   258.69  68.7%  177.67   330.14   250.94  58.0%  145.46   269.61  22.1% 22.4%Chicago3  3   246.91  67.8%  167.52   243.35   237.69  66.0%  156.86   226.03  6.8% 7.7%Houston4  5   225.11  71.3%  160.51   219.86   227.88  69.2%  157.76   222.95  1.7% (1.4%)Atlanta2  2   226.33  69.8%  158.01   274.07   219.91  67.8%  149.07   257.84  6.0% 6.3%San Antonio2  2   235.02  65.5%  153.94   248.65   230.63  63.7%  146.88   237.17  4.8% 4.8%Seattle2  2   238.46  64.0%  152.70   212.26   234.08  66.2%  155.07   214.18  (1.5%) (0.9%)New Orleans1  1   200.17  63.7%  127.41   212.03   229.88  68.7%  157.87   247.55  (19.3%) (14.3%)Denver3  3   201.44  62.0%  124.95   193.16   198.40  63.4%  125.86   195.77  (0.7%) (1.3%)Other7  9   316.92  67.6%  214.14   325.12   322.83  66.0%  213.23   329.30  0.4% (1.3%)Domestic70  75   349.97  72.7%  254.52   431.50   341.42  71.5%  244.24   412.86  4.2% 4.5%                                International5  5   209.22  64.3%  134.59   192.47   186.40  65.7%  122.54   171.41  9.8% 12.3%All Locations75  80  $345.49  72.4% $250.23  $422.97  $336.49  71.3% $240.04  $404.56  4.2% 4.6% ___________

(1)Represents the results of the portfolio for the time period of our ownership, including the results of non-comparable properties, dispositions through their date of disposal and acquisitions beginning as of the date of acquisition.   HOST HOTELS & RESORTS, INC.
Schedule of Comparable Hotel Results (1)
(unaudited, in millions, except hotel statistics)     Quarter ended
June 30, Year-to-date ended June 30, 2026 2025 2026 2025Number of hotels 74   74   74   74 Number of rooms 40,974   40,974   40,974   40,974 Change in comparable hotel Total RevPAR 5.9%  —   5.3%  — Change in comparable hotel RevPAR 7.0%  —   5.7%  — Operating profit margin⁽²⁾ 17.9%  17.5%  18.6%  17.7%Comparable hotel EBITDA margin⁽²⁾ 31.9%  31.3%  32.3%  31.7%Food and beverage profit margin⁽²⁾ 35.7%  34.5%  36.3%  35.2%Comparable hotel food and beverage profit margin⁽²⁾ 35.5%  35.2%  36.4%  35.8%        Net income$241  $225  $742  $476 Depreciation and amortization 193   195   383   391 Interest expense 58   58   117   115 Provision for income taxes 18   27   35   26 Gain on sale of property and corporate level income/expense 5   (8)  (225)  1 Property transaction adjustments⁽³⁾ —   (24)  (11)  (58)Non-comparable hotel results, net⁽⁴⁾ (10)  (12)  (27)  (18)Condominium sales(5) (8)  —   (12)  — Comparable hotel EBITDA⁽¹⁾$497  $461  $1,002  $933  ___________

(1)See the Notes to Financial Information for a discussion of comparable hotel results, which are non-GAAP measures, and the limitations on their use. For additional information on comparable hotel EBITDA by location, see the Second Quarter 2026 Supplemental Financial Information posted on our website.(2)Profit margins are calculated by dividing the applicable operating profit by the related revenue amount. GAAP profit margins are calculated using amounts presented in the unaudited condensed consolidated statements of operations. Comparable hotel margins are calculated using amounts presented in the following tables, which include reconciliations to the applicable GAAP results:          Quarter ended June 30, 2026
 Quarter ended June 30, 2025
    Adjustments      Adjustments    GAAP Results
 Property transaction
adjustments ⁽³⁾ Non-comparable hotel
results, net ⁽⁴⁾ Condominium sales(5) Depreciation and
corporate level items Comparable hotel
Results
 GAAP Results Property transaction
adjustments(3) Non-comparable hotel
results, net ⁽⁴⁾ Depreciation and
corporate level items Comparable hotel
Results
Revenues                        Room$954  $(2) $(13) $—  $—  $939  $949  $(62) $(10) $—  $877 Food and beverage 484   (1)  (9)  —   —   474   478   (25)  (5)  —   448 Other 149   —   (4)  —   —   145   159   (12)  (1)  —   146 Condominium sales 53   —   —   (53)  —   —   —   —   —   —   — Total revenues 1,640   (3)  (26)  (53)  —   1,558   1,586   (99)  (16)  —   1,471 Expenses                        Room 231   (1)  (3)  —   —   227   233   (14)  (2)  —   217 Food and beverage 311   (1)  (4)  —   —   306   313   (20)  (3)  —   290 Other 539   (1)  (9)  (1)  —   528   552   (41)  (8)  —   503 Depreciation and amortization 193   —   —   —   (193)  —   195   —   —   (195)  — Cost of goods sold 44   —   —   (44)  —   —   —   —   —   —   — Corporate and other expenses 29   —   —   —   (29)  —   25   —   —   (25)  — Net gain on insurance settlements —   —   —   —   —   —   (9)  —   9   —   — Total expenses 1,347   (3)  (16)  (45)  (222)  1,061   1,309   (75)  (4)  (220)  1,010 Operating Profit - Comparable hotel EBITDA$293  $—  $(10) $(8) $222  $497  $277  $(24) $(12) $220  $461                                                     Year-to-date ended June 30, 2026
 Year-to-date ended June 30, 2025
   Adjustments      Adjustments    GAAP Results Property transaction
adjustments ⁽³⁾ Non-comparable hotel
results, net ⁽⁴⁾ Condominium sales(5) Depreciation and
corporate level items Comparable hotel
Results
 GAAP Results Property transaction
adjustments(3) Non-comparable hotel
results, net ⁽⁴⁾ Depreciation and
corporate level items Comparable hotel
Results
Revenues                       Room$1,897  $(32) $(25) $—  $—  $1,840  $1,887  $(135) $(13) $—  $1,739 Food and beverage 1,001   (16)  (16)  —   —   969   981   (56)  (5)  —   920 Other 308   (7)  (8)  —   —   293   312   (25)  (1)  —   286 Condominium sales 79   —   —   (79)  —   —   —   —   —   —   — Total revenues 3,285   (55)  (49)  (79)  —   3,102   3,180   (216)  (19)  —   2,945 Expenses                       Room 455   (7)  (5)  —   —   443   458   (28)  (3)  —   427 Food and beverage 638   (12)  (9)  —   —   617   636   (42)  (4)  —   590 Other 1,082   (25)  (15)  (2)  —   1,040   1,096   (88)  (13)  —   995 Depreciation and amortization 383   —   —   —   (383)  —   391   —   —   (391)  — Cost of goods sold 65   —   —   (65)  —   —   —   —   —   —   — Corporate and other expenses 57   —   —   —   (57)  —   56   —   —   (56)  — Net gain on insurance settlements (7)  —   7   —   —   —   (19)  —   19   —   — Total expenses 2,673   (44)  (22)  (67)  (440)  2,100   2,618   (158)  (1)  (447)  2,012 Operating Profit - Comparable hotel EBITDA$612  $(11) $(27) $(12) $440  $1,002  $562  $(58) $(18) $447  $933  (3)Property transaction adjustments represent the following items: (i) the elimination of results of operations of hotels sold or held-for-sale as of the reporting date, which operations are included in our unaudited condensed consolidated statements of operations as continuing operations, and (ii) the addition of results for periods prior to our ownership for hotels acquired as of the reporting date.(4)Non-comparable hotel results, net, includes the following items: (i) the results of operations of our non-comparable hotels, which operations are included in our unaudited condensed consolidated statements of operations as continuing operations, and (ii) gains on business interruption proceeds covering lost revenues while the property was considered non-comparable. (5)Includes revenues and costs, including marketing and administrative expenses of approximately $1 million and $2 million for the quarter and year-to-date 2026, respectively, related to the development and sale of condominium units adjacent to the Four Seasons Resort Orlando at Walt Disney World® Resort.   HOST HOTELS & RESORTS, INC.
Reconciliation of Net Income to
EBITDA, EBITDAre and Adjusted EBITDAre(1)
(unaudited, in millions)
     Quarter ended June 30, Year-to-date ended June 30, 2026 2025 2026 2025Net income⁽²⁾$241  $225  $742  $476 Interest expense 58   58   117   115 Depreciation and amortization 189   195   379   391 Income taxes 18   27   35   26 EBITDA⁽²⁾ 506   505   1,273   1,008 (Gain) loss on dispositions⁽³⁾ 1   (21)  (241)  (21)Non-cash impairment expense 4   —   4   — Equity investment adjustments:       Equity in earnings of affiliates (7)  (4)  (11)  (14)Pro rata EBITDAre of equity investments⁽⁴⁾ 15   11   31   26 EBITDAre⁽²⁾ 519   491   1,056   999 Adjustments to EBITDAre:       Non-cash stock-based compensation expense 6   5   12   11 Adjusted EBITDAre⁽²⁾$525  $496  $1,068  $1,010  ___________

(1)See the Notes to Financial Information for discussion of non-GAAP measures.(2)Net income, EBITDA, EBITDAre, Adjusted EBITDAre, NAREIT FFO and Adjusted FFO for the year-to-date ended June 30, 2025 include a gain of $4 million from the sale of land adjacent to The Phoenician hotel.(3)Reflects the sale of four hotels in 2026, including the sale of the Sheraton Parsippany Hotel in the second quarter, and one hotel in 2025.(4)Unrealized gains of our unconsolidated investments are not recognized in our EBITDAre, Adjusted EBITDAre, NAREIT FFO or Adjusted FFO until they have been realized by the unconsolidated partnership.   HOST HOTELS & RESORTS, INC.
Reconciliation of Diluted Earnings per Common Share to
NAREIT and Adjusted Funds From Operations per Diluted Share(1)
(unaudited, in millions, except per share amounts)     Quarter ended June 30, Year-to-date ended June 30, 2026 2025 2026 2025Net income⁽²⁾$241  $225  $742  $476 Less: Net income attributable to non-controlling interests (4)  (4)  (11)  (7)Net income attributable to Host Inc. 237   221   731   469 Adjustments:       (Gain) loss on dispositions⁽³⁾ 1   (21)  (241)  (21)Tax on dispositions —   —   5   — Depreciation and amortization 189   195   378   390 Non-cash impairment expense 4   —   4   — Equity investment adjustments:       Equity in earnings of affiliates (7)  (4)  (11)  (14)Pro rata FFO of equity investments⁽⁴⁾ 8   6   19   16 Consolidated partnership adjustments:       FFO adjustment for non-controlling interests of Host L.P. (3)  (2)  (2)  (5)NAREIT FFO⁽²⁾ 429   395   883   835 Adjustments to NAREIT FFO:       Non-cash stock-based compensation expense 6   5   12   11 Adjusted FFO⁽²⁾$435  $400  $895  $846         For calculation on a per share basis:⁽⁵⁾               Diluted weighted average shares outstanding - EPS, NAREIT FFO and Adjusted FFO 687.0   693.9   688.1   696.7 Diluted earnings per common share$0.35  $0.32  $1.06  $0.67 NAREIT FFO per diluted share$0.62  $0.57  $1.28  $1.20 Adjusted FFO per diluted share$0.63  $0.58  $1.30  $1.21  ___________

(1-4)Refer to the corresponding footnote on the Reconciliation of Net Income to EBITDA, EBITDAreand Adjusted EBITDAre.(5)Diluted earnings per common share, NAREIT FFO per diluted share and Adjusted FFO per diluted share are adjusted for the effects of dilutive securities. Dilutive securities may include shares granted under comprehensive stock plans, preferred OP units held by non-controlling limited partners and other non-controlling interests that have the option to convert their limited partner interests to common OP units. No effect is shown for securities if they are anti-dilutive.   HOST HOTELS & RESORTS, INC.
Reconciliation of Net Income to
EBITDA, EBITDAre and Adjusted EBITDAre and Diluted Earnings per Common Share to
NAREIT and Adjusted Funds From Operations per Diluted Share for Full Year 2026 Forecasts (1)
(unaudited, in millions)   Full Year 2026 Low-end of range High-end of rangeNet income$944  $962 Interest expense 241   241 Depreciation and amortization 753   753 Income taxes 52   54 EBITDA 1,990   2,010 Gain on dispositions (241)  (241)Non-cash impairment expense 4   4 Equity investment adjustments:   Equity in earnings of affiliates (20)  (21)Pro rata EBITDAre of equity investments 61   62 EBITDAre 1,794   1,814 Adjustments to EBITDAre:   Non-cash stock-based compensation expense 26   26 Adjusted EBITDAre$1,820  $1,840           Full Year 2026 Low-end of range High-end of rangeNet income$944  $962 Less: Net income attributable to non-controlling interests (14)  (14)Net income attributable to Host Inc. 930   948 Adjustments:   Gain on dispositions (241)  (241)Tax on dispositions 5   5 Depreciation and amortization 752   752 Non-cash impairment expense 4   4 Equity investment adjustments:   Equity in earnings of affiliates (20)  (21)Pro rata FFO of equity investments 32   33 Consolidated partnership adjustments:   FFO adjustment for non-controlling partnerships (1)  (1)FFO adjustment for non-controlling interests of Host LP (7)  (7)NAREIT FFO 1,454   1,472 Adjustments to NAREIT FFO:   Non-cash stock-based compensation expense 26   26 Adjusted FFO$1,480  $1,498     Diluted weighted average shares outstanding - EPS, NAREIT FFO and Adjusted FFO 688.6   688.6 Diluted earnings per common share$1.35  $1.38 NAREIT FFO per diluted share$2.11  $2.14 Adjusted FFO per diluted share$2.15  $2.18  _______________

(1)The Forecasts are based on the below assumptions: •Comparable hotel RevPAR will increase 4.75% to 5.25% compared to 2025 for the low and high end of the forecast range. This forecast assumes a continued recovery at our Maui properties from the 2023 wildfires, however the timing of Maui's full recovery remains uncertain. •Comparable hotel EBITDA margins will increase 40 basis points to 50 basis points compared to 2025 for the low and high end of the forecast comparable hotel RevPAR range, respectively. •We expect to spend approximately $550 million to $630 million on capital expenditures. •Assumes no additional dispositions and no acquisitions during the year.    •This forecast makes no assumptions on the use of the remaining proceeds from the February 2026 Four Seasons sale following the second quarter special dividend and first quarter stock repurchases. We will weigh potential cash uses which may include, subject to market conditions, acquisitions, other investments in our portfolio, continued common stock repurchases or increased dividends, which dividends could be in excess of taxable income. Any additional special dividend will be subject to approval by Host Inc.’s Board of Directors. •Assumes an approximate $16 million to $20 million contribution to net income and Adjusted EBITDAre from the sale of condominium units. •Includes $7 million of gain from business interruption proceeds related to hurricane claims already received in 2026, but assumes no further business interruption proceeds during the year. For a discussion of items that may affect forecast results, see the Notes to Financial Information.    HOST HOTELS & RESORTS, INC.
Schedule of Comparable Hotel Results for Full Year 2026 Forecasts (1)(2)
(unaudited, in millions)   Full Year 2026 Low-end of range  High-end of range Operating profit margin(3) 14.9%  15.1%Comparable hotel EBITDA margin(3) 29.6%  29.7%    Net income$944  $962 Depreciation and amortization 757   757 Interest expense 241   241 Provision for income taxes 52   54 Gain on sale of property and corporate level income/expense (199)  (200)Property transaction adjustments(4) (11)  (11)Non-comparable hotel results, net(5) (36)  (36)Condominium sales (6) (16)  (20)Comparable hotel EBITDA(1)$1,732  $1,747  ___________

(1)See "Reconciliation of Net Income to EBITDA, EBITDAre and Adjusted EBITDAre and Diluted Earnings per Common Share to NAREIT and Adjusted Funds From Operations per Diluted Share for Full Year 2026 Forecasts" for other forecast assumptions.(2)Forecast comparable hotel results include 74 hotels (of our 75 hotels owned at June 30, 2026) that we have assumed will be classified as comparable as of December 31, 2026. See footnote (5) for details on our non-comparable hotel results.
(3)Profit margins are calculated by dividing the applicable operating profit by the related revenue amount. GAAP profit margins are calculated using amounts presented in the unaudited condensed consolidated statements of operations. Comparable hotel margins are calculated using amounts presented in the following tables, which include reconciliations to the applicable GAAP results:    Low-end of range
 High-end of range
   Adjustments     Adjustments   GAAP Results Property transaction adjustments Non-comparable hotel
results, net Condo-minium sales Depreciation and
corporate level items Comparable hotel
Results
 GAAP Results Property transaction adjustments Non-comparable hotel
results, net Condo-minium sales Depreciation and
corporate level items Comparable hotel
Results
Revenues                         Rooms$3,575  $(32) $(40) $—  $—  $3,503  $3,592  $(32) $(40) $—  $—  $3,520 Food and beverage 1,827   (16)  (29)  —   —   1,782   1,833   (16)  (29)  —   —   1,788 Other 722   (7)  (14)  (139)  —   562   728   (7)  (14)  (143)  —   564 Total revenues 6,124   (55)  (83)  (139)  —   5,847   6,153   (55)  (83)  (143)  —   5,872 Expenses                         Hotel expenses 4,219   (44)  (54)  (6)  —   4,115   4,229   (44)  (54)  (6)  —   4,125 Depreciation and amortization 757   —   —   —   (757)  —   757   —   —   —   (757)  — Cost of goods sold 117   —   —   (117)  —   —   117   —   —   (117)  —   — Corporate and other expenses 126   —   —   —   (126)  —   126   —   —   —   (126)  — Net gain on insurance settlements (7)  —   7   —   —   —   (7)  —   7   —   —   — Total expenses 5,212   (44)  (47)  (123)  (883)  4,115   5,222   (44)  (47)  (123)  (883)  4,125 Operating Profit - Comparable hotel EBITDA$912  $(11) $(36) $(16) $883  $1,732  $931  $(11) $(36) $(20) $883  $1,747                            (4)Property transaction adjustments represent the following items: (i) the elimination of results of operations of hotels sold or held-for-sale as of the reporting date, which operations are included in our unaudited condensed consolidated statements of operations as continuing operations, and (ii) the addition of results for periods prior to our ownership for hotels acquired as of the reporting date. Forecast data also eliminates results of hotels assumed to be sold during the year.(5)Non-comparable hotel results, net, includes the following items: (i) the results of operations of our non-comparable hotels, which operations are included in our condensed consolidated statements of operations as continuing operations, and (ii) gains on business interruption proceeds covering lost revenues while the property was considered non-comparable. The following property is expected to be non-comparable for full year 2026: •The Don CeSar (business disruption due to Hurricane Helene resulting in closure of the hotel beginning at the end of September 2024, reopened in March 2025)(6)Includes revenues and costs, including marketing and administrative expenses of approximately $6 million, related to the development and sale of condominium units adjacent to the Four Seasons Resort Orlando at Walt Disney World® Resort. HOST HOTELS & RESORTS, INC.
Notes to Financial Information  FORECASTS

Our forecast of net income, earnings per diluted share, NAREIT and Adjusted FFO per diluted share, EBITDA, EBITDAre, Adjusted EBITDAre and comparable hotel results are forward-looking statements and are not guarantees of future performance and involve known and unknown risks, uncertainties and other factors which may cause actual results and performance to differ materially from those expressed or implied by these forecasts. Although we believe the expectations reflected in the forecasts are based upon reasonable assumptions, we can give no assurance that the expectations will be attained or that the results will not be materially different. Risks that may affect these assumptions and forecasts include the following: potential changes in overall economic outlook make it inherently difficult to forecast the level of RevPAR, earnings and profitability; the amount and timing of debt payments may change significantly based on market conditions, which will directly affect the level of interest expense and net income; the amount and timing of transactions involving shares of our common stock may change based on market conditions; and other risks and uncertainties associated with our business described herein and in our annual report on Form 10-K, quarterly reports on Form 10-Q and current reports on Form 8-K filed with the SEC.

COMPARABLE HOTEL OPERATING STATISTICS AND RESULTS

To facilitate a year-to-year comparison of our operations, we present certain operating statistics (i.e., Total RevPAR, RevPAR, average daily rate and average occupancy) and operating results (revenues, expenses, hotel EBITDA and associated margins) for the periods included in our reports on a comparable hotel basis in order to enable our investors to better evaluate our operating performance. We define our comparable hotels as those that: (i) are owned or leased by us as of the reporting date and are not classified as held-for-sale; and (ii) have not sustained substantial property damage or business interruption, or undergone large-scale capital projects, in each case requiring closures lasting one month or longer (as further defined below), during the reporting periods being compared.

We make adjustments to include recent acquisitions to include results for periods prior to our ownership. For these hotels, since the year-over-year comparison includes periods prior to our ownership, the changes will not necessarily correspond to changes in our actual results. Additionally, operating results of hotels that we sell are excluded from the comparable hotel set once the transaction has closed or the hotel is classified as held-for-sale.

The hotel business is capital-intensive and renovations are a regular part of the business. Generally, hotels under renovation remain comparable hotels. A large-scale capital project would cause a hotel to be excluded from our comparable hotel set if it requires the entire property to be closed to hotel guests for one month or longer.

Similarly, hotels are excluded from our comparable hotel set from the date that they sustain substantial property damage or business interruption if it requires the property to be closed to hotel guests for one month or longer. In each case, these hotels are returned to the comparable hotel set when the operations of the hotel have been included in our consolidated results for one full calendar year after the hotel has reopened. Often, related to events that cause property damage and the closure of a hotel, we will collect business interruption insurance proceeds for the near-term loss of business. These proceeds are included in net gain on insurance settlements on our condensed consolidated statements of operations. Business interruption insurance gains covering lost revenues while the property was considered non-comparable also will be excluded from the comparable hotel results.

Of the 75 hotels that we owned as of June 30, 2026, 74 have been classified as comparable hotels. The operating results of the following properties that we owned as of June 30, 2026 are excluded from comparable hotel results for these periods:

The Don CeSar (business disruption due to Hurricane Helene resulting in closure of the hotel beginning at the end of September 2024, reopened in March 2025); andOperations related to the development and sale of condominium units on a development parcel adjacent to the Four Seasons Resort Orlando at Walt Disney World® Resort. FOREIGN CURRENCY TRANSLATION

Operating results denominated in foreign currencies are translated using the prevailing exchange rates on the date of the transaction, or monthly based on the weighted average exchange rate for the period. Therefore, hotel statistics and results for non-U.S. properties include the effect of currency fluctuations, consistent with our financial statement presentation.

NON-GAAP FINANCIAL MEASURES

Included in this press release are certain “non-GAAP financial measures,” which are measures of our historical or future financial performance that are not calculated and presented in accordance with GAAP, within the meaning of applicable SEC rules. They are as follows: (i) FFO and FFO per diluted share (both NAREIT and Adjusted), (ii) EBITDA, both at the hotel level and company-wide, (iii) EBITDAre and Adjusted EBITDAre, and (iv) Comparable Hotel Operating Statistics and Results. The following discussion defines these measures and presents why we believe they are useful supplemental measures of our performance.

NAREIT FFO AND NAREIT FFO PER DILUTED SHARE

We present NAREIT FFO and NAREIT FFO per diluted share as non-GAAP measures of our performance in addition to our earnings per share (calculated in accordance with GAAP). We calculate NAREIT FFO per diluted share as our NAREIT FFO (defined as set forth below) for a given operating period, as adjusted for the effect of dilutive securities, divided by the number of fully diluted shares outstanding during such period, in accordance with NAREIT guidelines. As noted in NAREIT’s Funds From Operations White Paper – 2018 Restatement, NAREIT defines FFO as net income (calculated in accordance with GAAP) excluding depreciation and amortization related to certain real estate assets, gains and losses from the sale of certain real estate assets, gains and losses from change in control, impairment expense of certain real estate assets and investments and adjustments for consolidated partially owned entities and unconsolidated affiliates. Adjustments for consolidated partially owned entities and unconsolidated affiliates are calculated to reflect our pro rata share of the FFO of those entities on the same basis.

We believe that NAREIT FFO per diluted share is a useful supplemental measure of our operating performance and that the presentation of NAREIT FFO per diluted share, when combined with the primary GAAP presentation of diluted earnings per share, provides beneficial information to investors. By excluding the effect of real estate depreciation, amortization, impairment expense and gains and losses from sales of depreciable real estate, all of which are based on historical cost accounting and which may be of lesser significance in evaluating current performance, we believe that such measures can facilitate comparisons of operating performance between periods and with other REITs, even though NAREIT FFO per diluted share does not represent an amount that accrues directly to holders of our common stock. Historical cost accounting for real estate assets implicitly assumes that the value of real estate assets diminishes predictably over time. As noted by NAREIT in its Funds From Operations White Paper – 2018 Restatement, the primary purpose for including FFO as a supplemental measure of operating performance of a REIT is to address the artificial nature of historical cost depreciation and amortization of real estate and real estate-related assets mandated by GAAP. For these reasons, NAREIT adopted the FFO metric in order to promote a uniform industry-wide measure of REIT operating performance.

Adjusted FFO per Diluted Share

We also present Adjusted FFO per diluted share when evaluating our performance because management believes that the exclusion of certain additional items described below provides useful supplemental information to investors regarding our ongoing operating performance. Management historically has made the adjustments detailed below in evaluating our performance, in our annual budget process and for our compensation programs. We believe that the presentation of Adjusted FFO per diluted share, when combined with both the primary GAAP presentation of diluted earnings per share and FFO per diluted share as defined by NAREIT, provides useful supplemental information that is beneficial to an investor’s understanding of our operating performance. We adjust NAREIT FFO per diluted share for the following items, which may occur in any period, and refer to this measure as Adjusted FFO per diluted share:

Gains and Losses on the Extinguishment of Debt – We exclude the effect of finance charges and premiums associated with the extinguishment of debt, including the acceleration of the write-off of deferred financing costs from the original issuance of the debt being redeemed or retired and incremental interest expense incurred during the refinancing period. We also exclude the gains on debt repurchases and the original issuance costs associated with the retirement of preferred stock. We believe that these items are not reflective of our ongoing finance costs.Acquisition Costs – Under GAAP, costs associated with completed property acquisitions that are considered business combinations are expensed in the year incurred. We exclude the effect of these costs because we believe they are not reflective of the ongoing performance of the Company.Litigation Gains and Losses – We exclude the effect of gains or losses associated with litigation recorded under GAAP that we consider to be outside the ordinary course of business. We believe that including these items is not consistent with our ongoing operating performance.Severance Expense – In certain circumstances, we will add back hotel-level severance expenses when we do not believe that such expenses are reflective of the ongoing operation of our properties. Situations that would result in a severance add-back include, but are not limited to, (i) costs incurred as part of a broad-based reconfiguration of the operating model with the specific hotel operator for a portfolio of hotels and (ii) costs incurred at a specific hotel due to a broad-based and significant reconfiguration of a hotel and/or its workforce. We do not add back corporate-level severance costs or severance costs at an individual hotel that we consider to be incurred in the normal course of business.Non-Cash Stock-Based Compensation - We exclude the expense recorded for non-cash stock-based compensation, as it represents a non-cash transaction and the add back is consistent with the calculation of Adjusted EBITDA for our financial covenant ratios under our credit facility and senior notes indentures and consistent with the presentation of Adjusted FFO per diluted share for the majority of other lodging REIT filers.
In unusual circumstances, we also may adjust NAREIT FFO for gains or losses that management believes are not representative of the Company’s current operating performance. For example, in 2017, as a result of the reduction of the U.S. federal corporate income tax rate from 35% to 21% by the Tax Cuts and Jobs Act, we remeasured our domestic deferred tax assets as of December 31, 2017 and recorded a one-time adjustment to reduce our deferred tax assets and to increase the provision for income taxes by approximately $11 million. We do not consider this adjustment to be reflective of our ongoing operating performance and, therefore, we excluded this item from Adjusted FFO.

EBITDA

Earnings before Interest Expense, Income Taxes, Depreciation and Amortization (“EBITDA”) is a commonly used measure of performance in many industries. Management believes EBITDA provides useful information to investors regarding our results of operations because it helps us and our investors evaluate the ongoing operating performance of our properties after removing the impact of the Company’s capital structure (primarily interest expense) and its asset base (primarily depreciation and amortization). Management also believes the use of EBITDA facilitates comparisons between us and other lodging REITs, hotel owners that are not REITs and other capital-intensive companies. Management uses EBITDA to evaluate property-level results and as one measure in determining the value of acquisitions and dispositions and, like FFO and Adjusted FFO per diluted share, it is widely used by management in the annual budget process and for our compensation programs.

EBITDAre and Adjusted EBITDAre

We present EBITDAre in accordance with NAREIT guidelines, as defined in its September 2017 white paper “Earnings Before Interest, Taxes, Depreciation and Amortization for Real Estate,” to provide an additional performance measure to facilitate the evaluation and comparison of the Company’s results with other REITs. NAREIT defines EBITDAre as net income (calculated in accordance with GAAP) excluding interest expense, income tax, depreciation and amortization, gains or losses on disposition of depreciated property (including gains or losses on change of control), impairment expense for depreciated property and of investments in unconsolidated affiliates caused by a decrease in value of depreciated property in the affiliate, and adjustments to reflect the entity’s pro rata share of EBITDAre of unconsolidated affiliates.

We make additional adjustments to EBITDAre when evaluating our performance because we believe that the exclusion of certain additional items described below provides useful supplemental information to investors regarding our ongoing operating performance. We believe that the presentation of Adjusted EBITDAre, when combined with the primary GAAP presentation of net income, is beneficial to an investor’s understanding of our operating performance. Adjusted EBITDAre also is similar to the measure used to calculate certain credit ratios for our credit facility and senior notes. We adjust EBITDAre for the following items, which may occur in any period, and refer to this measure as Adjusted EBITDAre:

Property Insurance Gains and Property Damage Losses – We exclude the effect of property insurance gains reflected in our condensed consolidated statements of operations because we believe that including them in Adjusted EBITDAre is not consistent with reflecting the ongoing performance of our assets. In addition, property insurance gains could be less important to investors given that the depreciated asset book value written off in connection with the calculation of the property insurance gain often does not reflect the market value of real estate assets. Similarly, losses from property damage or remediation costs that are not covered through insurance are excluded.Acquisition Costs – Under GAAP, costs associated with completed property acquisitions that are considered business combinations are expensed in the year incurred. We exclude the effect of these costs because we believe they are not reflective of the ongoing performance of the Company.Litigation Gains and Losses – We exclude the effect of gains or losses associated with litigation recorded under GAAP that we consider to be outside the ordinary course of business. We believe that including these items is not consistent with our ongoing operating performance.Severance Expense – In certain circumstances, we will add back hotel-level severance expenses when we do not believe that such expenses are reflective of the ongoing operation of our properties. Situations that would result in a severance add-back include, but are not limited to, (i) costs incurred as part of a broad-based reconfiguration of the operating model with the specific hotel operator for a portfolio of hotels and (ii) costs incurred at a specific hotel due to a broad-based and significant reconfiguration of a hotel and/or its workforce. We do not add back corporate-level severance costs or severance costs at an individual hotel that we consider to be incurred in the normal course of business.Non-Cash Stock-Based Compensation - We exclude the expense recorded for non-cash stock-based compensation, as it represents a non-cash transaction and the add back is consistent with the calculation of Adjusted EBITDA for our financial covenant ratios under our credit facility and senior notes indentures and consistent with the presentation of Adjusted EBITDAre for the majority of other lodging REIT filers.
In unusual circumstances, we also may adjust EBITDAre for gains or losses that management believes are not representative of the Company’s current operating performance. The last adjustment of this nature was a 2013 exclusion of a gain from an eminent domain claim.

Limitations on the Use of NAREIT FFO per Diluted Share, Adjusted FFO per Diluted Share, EBITDA, EBITDAre and Adjusted EBITDAre

We calculate EBITDAre and NAREIT FFO per diluted share in accordance with standards established by NAREIT, which may not be comparable to measures calculated by other companies that do not use the NAREIT definition of EBITDAre and FFO or do not calculate FFO per diluted share in accordance with NAREIT guidance. In addition, although EBITDAre and FFO per diluted share are useful measures when comparing our results to other REITs, they may not be helpful to investors when comparing us to non-REITs. We also calculate Adjusted FFO per diluted share and Adjusted EBITDAre, which measures are not in accordance with NAREIT guidance and may not be comparable to measures calculated by other REITs or by other companies. This information should not be considered as an alternative to net income, operating profit, cash from operations or any other operating performance measure calculated in accordance with GAAP. Cash expenditures for various long-term assets (such as renewal and replacement capital expenditures), interest expense (for EBITDA, EBITDAre and Adjusted EBITDAre purposes only), severance expense related to significant property-level reconfiguration and other items have been, and will be, made and are not reflected in the EBITDA, EBITDAre, Adjusted EBITDAre, NAREIT FFO per diluted share and Adjusted FFO per diluted share presentations. Management compensates for these limitations by separately considering the impact of these excluded items to the extent they are material to operating decisions or assessments of our operating performance. Our consolidated statements of operations and consolidated statements of cash flows in the Company’s annual report on Form 10-K and quarterly reports on Form 10-Q include interest expense, capital expenditures, and other excluded items, all of which should be considered when evaluating our performance, as well as the usefulness of our non-GAAP financial measures. Additionally, NAREIT FFO per diluted share, Adjusted FFO per diluted share, EBITDA, EBITDAre and Adjusted EBITDAre should not be considered as measures of our liquidity or indicative of funds available to fund our cash needs, including our ability to make cash distributions. In addition, NAREIT FFO per diluted share and Adjusted FFO per diluted share do not measure, and should not be used as measures of, amounts that accrue directly to stockholders’ benefit.

Similarly, EBITDAre, Adjusted EBITDAre, NAREIT FFO and Adjusted FFO per diluted share include adjustments for the pro rata share of our equity investments, and NAREIT FFO and Adjusted FFO per diluted share include adjustments for the pro rata share of non-controlling partners in consolidated partnerships. Our equity investments consist of interests ranging from 11% to 67% in seven domestic partnerships that own a total of 120 properties and a vacation ownership development. Due to the voting rights of the outside owners, we do not control and, therefore, do not consolidate these entities. The non-controlling partners in consolidated partnerships primarily consist of the approximate 1% interest in Host LP held by unaffiliated limited partners and a 15% interest held by an unaffiliated limited partner in a partnership owning one hotel for which we do control the entity and, therefore, consolidate its operations. These pro rata results for NAREIT FFO and Adjusted FFO per diluted share, EBITDAre and Adjusted EBITDAre were calculated as set forth in the definitions above. Readers should be cautioned that the pro rata results presented in these measures for consolidated partnerships (for NAREIT FFO and Adjusted FFO per diluted share) and equity investments may not accurately depict the legal and economic implications of our investments in these entities.

Comparable Hotel Property Level Operating Results

We present certain operating results for our hotels, such as hotel revenues, expenses, food and beverage profit, and EBITDA (and the related margins), on a comparable hotel, or "same store," basis as supplemental information for our investors. Our comparable hotel results present operating results for our hotels without giving effect to dispositions or properties that experienced closures due to renovations or property damage, as discussed in “Comparable Hotel Operating Statistics and Results” above. We present comparable hotel EBITDA to help us and our investors evaluate the ongoing operating performance of our comparable hotels after removing the impact of the Company’s capital structure (primarily interest expense) and its asset base (primarily depreciation and amortization expense). Corporate-level costs and expenses also are removed to arrive at property-level results. We believe these property-level results provide investors with supplemental information about the ongoing operating performance of our comparable hotels. Comparable hotel results are presented both by location and for the Company’s properties in the aggregate. We eliminate from our comparable hotel level operating results severance costs related to broad-based and significant property-level reconfiguration that is not considered to be within the normal course of business, as we believe this elimination provides useful supplemental information that is beneficial to an investor’s understanding of our ongoing operating performance. We also eliminate depreciation and amortization expense because, even though depreciation and amortization expense are property-level expenses, these non-cash expenses, which are based on historical cost accounting for real estate assets, implicitly assume that the value of real estate assets diminishes predictably over time. As noted earlier, because real estate values historically have risen or fallen with market conditions, many real estate industry investors have considered presentation of historical cost accounting for operating results to be insufficient.

Because of the elimination of corporate-level costs and expenses, gains or losses on disposition, certain severance expenses and depreciation and amortization expense, the comparable hotel operating results we present do not represent our total revenues, expenses, operating profit or net income and should not be used to evaluate our performance as a whole. Management compensates for these limitations by separately considering the impact of these excluded items to the extent they are material to operating decisions or assessments of our operating performance. Our condensed consolidated statements of operations include such amounts, all of which should be considered by investors when evaluating our performance.

We present these hotel operating results on a comparable hotel basis because we believe that doing so provides investors and management with useful information for evaluating the period-to-period performance of our hotels and facilitates comparisons with other hotel REITs and hotel owners. In particular, these measures assist management and investors in distinguishing whether increases or decreases in revenues and/or expenses are due to growth or decline of operations at comparable hotels (which represent the vast majority of our portfolio) or from other factors. While management believes that presentation of comparable hotel results is a supplemental measure that provides useful information in evaluating our ongoing performance, this measure is not used to allocate resources or to assess the operating performance of each of our hotels, as these decisions are based on data for individual hotels and are not based on comparable hotel results in the aggregate. For these reasons, we believe comparable hotel operating results, when combined with the presentation of GAAP operating profit, revenues and expenses, provide useful information to investors and management.

SOURAV GHOSH
Chief Financial Officer
(240) 744-5267JAIME MARCUS
Investor Relations
(240) 744-5117
[email protected] A PDF accompanying this announcement is available at http://ml.globenewswire.com/Resource/Download/ada59729-2db1-46e5-82f2-a79f2cd8c1a2

August 04, 2026 08:30 ET  | Source: Host Hotels & Resorts, L.P.

BETHESDA, Md., Aug. 04, 2026 (GLOBE NEWSWIRE) -- Host Hotels & Resorts, Inc. (NASDAQ: HST) (the “Company”), the nation’s largest lodging real estate investment trust (“REIT”), published its 2026 Corporate Responsibility (CR) Report, Investing for the Future. The report provides an overview of the Company’s CR strategy and performance, highlighting continued progress across environmental stewardship, social impact and governance in support of its long-term responsible investment strategy and 2050 net positive vision.

“At Host, responsible investment is how we protect and strengthen our portfolio — from deploying resilience capital in higher-risk markets and expanding renewable energy to advancing green building certifications and investing in our people and communities,” said Mike Lentz, executive vice president, development, design & construction and executive sponsor of Host’s CR program. “This year’s report highlights how disciplined capital allocation and environmental stewardship are helping us build a more resilient, efficient portfolio, support stronger communities, and create enduring value for our stockholders and other stakeholders.”

The report also highlights continued recognition of the Company’s corporate responsibility leadership, including Nareit’s 2026 Leader in the Light® Award for Operations for large cap REITs, inclusion in the 2026 Dow Jones Best-in-Class World and North America Indices, re-validation of the Company’s emissions reduction target by the Science Based Targets initiative and an advanced Net Zero Assessment rating from Moody’s.

Notable milestones highlighted in the report include:

RESILIENCE INVESTMENTS

Assessed climate risk across 100% of properties and integrated findings into a climate transition planInvested approximately $300 million in resilience measures since 2016 and approved more than 30 proactive resilience projects since 2025 to mitigate climate riskExpanded the LEED®-certified portfolio to 27 properties — including six LEED Gold® hotels — representing 36% of portfolio and a 3.9x increase in LEED certifications since 2019 SUSTAINABILITY INVESTMENTS

Completed more than 1,000 sustainability projects between 2021 and 2025, resulting in approximately $30 million in expected annual utility savings and average cash-on-cash returns of 12% to 20%Reached nearly $5 billion in aggregate sustainable financing, including the full allocation of $2.45 billion of green bond proceeds and a $2.5 billion of sustainability-linked credit facilitySourced over 30% of electricity from renewable sources in 2025, with 14 hotels operating on-site solar photovoltaic systems and eight additional hotels with systems in developmentDiverted more than 1,150 tons of waste and supported nearly 87,000 people since 2022 through the green donations program, which directs used furniture, fixtures and equipment from hotel renovation projects to local nonprofits serving those in need COMMUNITY INVESTMENTS

Supported 276 nonprofits in 2025, including more than 230 employee-selected community investments, guided by the new Community Impact FrameworkAchieved 96% employee participation in charitable giving and volunteerism, including eight employee-led volunteer eventsInvested 40% to 50% of excess investable cash in social impact funds in 2025, with approximately $340 million in trailing 12-month average balances PEOPLE INVESTMENTS

Achieved a 92% engagement score in the most recent employee engagement survey with a 99% response rateMaintained 14 years of average employee tenureReached approximately 63% employee participation in learning and development programs, including a new manager training program and expanded opportunities for employees at all levels Now in its ninth edition, the 2026 Corporate Responsibility Report includes updated Task Force on Climate-related Financial Disclosures (TCFD) and Sustainability Accounting Standards Board (SASB) frameworks.

For more information, read the 2026 Corporate Responsibility Report and visit the Corporate Responsibility section on the Company website.

ABOUT HOST HOTELS & RESORTS

Host Hotels & Resorts, Inc. is an S&P 500 company and is the largest lodging real estate investment trust and one of the largest owners of luxury and upper-upscale hotels. The Company currently owns 71 properties in the United States and five properties internationally totaling approximately 41,700 rooms. The Company also holds non-controlling interests in seven domestic joint ventures.

SOURAV GHOSH JAIME MARCUS Chief Financial Officer Investor Relations (240) 744-5267 (240) 744-5117  [email protected]

Investors looking for stocks in the REIT and Equity Trust - Other sector might want to consider either Host Hotels (HST - Free Report) or CubeSmart (CUBE - Free Report) . But which of these two stocks offers value investors a better bang for their buck right now? We'll need to take a closer look.

We have found that the best way to discover great value opportunities is to pair a strong Zacks Rank with a great grade in the Value category of our Style Scores system. The proven Zacks Rank puts an emphasis on earnings estimates and estimate revisions, while our Style Scores work to identify stocks with specific traits.

Host Hotels and CubeSmart are sporting Zacks Ranks of #2 (Buy) and #3 (Hold), respectively, right now. This system places an emphasis on companies that have seen positive earnings estimate revisions, so investors should feel comfortable knowing that HST is likely seeing its earnings outlook improve to a greater extent. But this is just one factor that value investors are interested in.

Value investors also tend to look at a number of traditional, tried-and-true figures to help them find stocks that they believe are undervalued at their current share price levels.

The Style Score Value grade factors in a variety of key fundamental metrics, including the popular P/E ratio, P/S ratio, earnings yield, cash flow per share, and a number of other key stats that are commonly used by value investors.

HST currently has a forward P/E ratio of 11.94, while CUBE has a forward P/E of 16.48. We also note that HST has a PEG ratio of 2.88. This figure is similar to the commonly-used P/E ratio, with the PEG ratio also factoring in a company's expected earnings growth rate. CUBE currently has a PEG ratio of 7.34.

Another notable valuation metric for HST is its P/B ratio of 2.57. The P/B ratio pits a stock's market value against its book value, which is defined as total assets minus total liabilities. For comparison, CUBE has a P/B of 3.6.

These metrics, and several others, help HST earn a Value grade of B, while CUBE has been given a Value grade of D.

HST stands above CUBE thanks to its solid earnings outlook, and based on these valuation figures, we also feel that HST is the superior value option right now.

It doesn't matter your age or experience: taking full advantage of the stock market and investing with confidence are common goals for all investors. Luckily, Zacks Premium offers several different ways to do both.

The popular research service can help you become a smarter, more self-assured investor, giving you access to daily updates of the Zacks Rank and Zacks Industry Rank, the Zacks #1 Rank List, Equity Research reports, and Premium stock screens.

Zacks Premium includes access to the Zacks Style Scores as well.

What are the Zacks Style Scores? The Zacks Style Scores is a unique set of guidelines that rates stocks based on three popular investing types, and were developed as complementary indicators for the Zacks Rank. This combination helps investors choose securities with the highest chances of beating the market over the next 30 days.

Based on their value, growth, and momentum characteristics, each stock is assigned a rating of A, B, C, D, or F. The better the score, the better chance the stock will outperform; an A is better than a B, a B is better than a C, and so on.

The Style Scores are broken down into four categories:

Value ScoreValue investors love finding good stocks at good prices, especially before the broader market catches on to a stock's true value. Utilizing ratios like P/E, PEG, Price/Sales, Price/Cash Flow, and many other multiples, the Value Style Score identifies the most attractive and most discounted stocks.

Growth ScoreWhile good value is important, growth investors are more focused on a company's financial strength and health, and its future outlook. The Growth Style Score takes projected and historic earnings, sales, and cash flow into account to uncover stocks that will see long-term, sustainable growth.

Momentum ScoreMomentum traders and investors live by the saying "the trend is your friend." This investing style is all about taking advantage of upward or downward trends in a stock's price or earnings outlook. Employing factors like one-week price change and the monthly percentage change in earnings estimates, the Momentum Style Score can indicate favorable times to build a position in high-momentum stocks.

VGM ScoreWhat if you like to use all three types of investing? The VGM Score is a combination of all Style Scores, making it one of the most comprehensive indicators to use with the Zacks Rank. It rates each stock on their combined weighted styles, which helps narrow down the companies with the most attractive value, best growth forecast, and most promising momentum.

How Style Scores Work with the Zacks Rank The Zacks Rank, which is a proprietary stock-rating model, employs earnings estimate revisions, or changes to a company's earnings expectations, to make building a winning portfolio easier.

#1 (Strong Buy) stocks have produced an unmatched +23.94% average annual return since 1988, which is more than double the S&P 500's performance over the same time frame. However, the Zacks Rank examines a ton of stocks, and there can be more than 200 companies with a Strong Buy rank, and another 600 with a #2 (Buy) rank, on any given day.

With more than 800 top-rated stocks to choose from, it can certainly feel overwhelming to pick the ones that are right for you and your investing journey.

That's where the Style Scores come in.

To have the best chance of big returns, you'll want to always consider stocks with a Zacks Rank #1 or #2 that also have Style Scores of A or B, which will give you the highest probability of success. If you're looking at stocks with a #3 (Hold) rank, it's important they have Scores of A or B as well to ensure as much upside potential as possible.

The direction of a stock's earnings estimate revisions should always be a key factor when choosing which stocks to buy, since the Scores were created to work together with the Zacks Rank.

Here's an example: a stock with a #4 (Sell) or #5 (Strong Sell) rating, even one with Style Scores of A and B, still has a downward-trending earnings outlook, and a bigger chance its share price will decrease too.

Thus, the more stocks you own with a #1 or #2 Rank and Scores of A or B, the better.

Stock to Watch: Host Hotels (HST - Free Report) Bethesda, MD-based Host Hotels & Resorts Inc., one of the leading lodging real estate investment trusts (REITs), engages in the ownership, acquisition, and redevelopment of luxury and upper-upscale hotels in the United States and abroad. It is an S&P 500 Index company.

HST is a #2 (Buy) on the Zacks Rank, with a VGM Score of B.

It also boasts a Value Style Score of B thanks to attractive valuation metrics like a forward P/E ratio of 11.26; value investors should take notice.

Five analysts revised their earnings estimate higher in the last 60 days for fiscal 2026, while the Zacks Consensus Estimate has increased $0.04 to $2.14 per share. HST also boasts an average earnings surprise of +8.7%.

With a solid Zacks Rank and top-tier Value and VGM Style Scores, HST should be on investors' short list.

Key Takeaways Hinge Health expanded HingeSelect and raised 2026 revenue and profitability guidance.EVH narrowed its net loss, reaffirmed 2026 guidance and highlighted Performance Suite momentum.HeartBeam is licensing its 3D ECG platform while advancing AI-driven heart attack detection. Artificial intelligence (AI) investing has largely centered on chipmakers and hyperscale cloud providers over the past two years. However, as enterprise AI adoption broadens, another segment is emerging as a compelling long-term growth opportunity: healthcare information technology (healthcare IT).

Unlike many AI applications that remain experimental, healthcare providers and payers are deploying AI to address tangible operational challenges, including physician shortages, rising administrative costs, reimbursement pressure and growing patient volumes. This makes healthcare IT one of the few industries where AI can deliver measurable cost savings while improving clinical workflows.

Going by McKinsey’s research,  health services and technology (HST) is expected to remain the fastest-growing segment within healthcare in 2026, driven by AI-enabled software, data analytics, workflow automation and technology outsourcing.

Against this backdrop, here are three healthcare IT stocks — Hinge Health (HNGE - Free Report) , Evolent Health (EVH - Free Report) and HeartBeam (BEAT - Free Report) that offer compelling long-term investment opportunities.

Why Healthcare IT Is Gaining MomentumThe healthcare sector is facing several structural headwinds simultaneously.

An aging U.S. population is increasing demand for healthcare services, while providers continue to grapple with workforce shortages and higher labor costs. Hospitals and physician groups are also under pressure from reimbursement changes and tighter operating margins.

These challenges are encouraging healthcare organizations to invest in technologies that automate repetitive administrative tasks, improve clinical documentation, optimize revenue-cycle management and generate actionable insights from electronic health records (EHRs).

According to McKinsey, healthcare organizations are increasingly shifting their focus from isolated AI pilots toward enterprise-scale transformation. Rather than deploying standalone AI tools, providers are seeking integrated solutions that can streamline clinical and administrative workflows across the organization. The consulting firm expects software and tech-enabled services to capture a growing share of healthcare value creation over the coming years.

A Supportive Macro EnvironmentThe macro backdrop has also become more supportive for healthcare technology investments.

June inflation data showed continued moderation in price pressures, reducing expectations of an immediate Federal Reserve rate increase. Treasury yields eased after the report, improving investor sentiment toward growth-oriented technology companies.

Federal Reserve officials continue to emphasize that inflation risks have not disappeared, citing tariffs, AI-related investment spending and Middle East geopolitical tensions as ongoing sources of uncertainty. Nevertheless, cooling core inflation has strengthened expectations that policy will remain relatively stable in the near term, improving visibility for long-duration growth investments.

3 Best PicksHinge Health: The company is leveraging an AI-powered care model, wearable technology and clinician support to automate musculoskeletal (MSK) care delivery. In June, Hinge Health raised its 2026 revenue and profitability guidance, reflecting continued business momentum. It also expanded its HingeSelect platform to offer integrated MSK care spanning physical therapy, specialist referrals, imaging, surgery and post-operative recovery, strengthening its position as a comprehensive digital healthcare platform.

This Zacks Rank #1 (Strong Buy) stock is projected to report 2027 earnings growth of 31.3% on revenue growth of 24.1%. The stock also holds a Growth Style Score of B. Our research shows that stocks with a Growth Score of A or B, when combined with a Zacks Rank #1, 2 (Buy) or 3 (Hold), offer the best upside potential.

Image Source: Zacks Investment Research

Evolent Health: The company is benefiting from growing demand for technology-enabled specialty care management solutions that help payers improve outcomes while controlling medical costs. In the first quarter of 2026, revenues increased 2.6% year over year, while the company significantly narrowed its net loss. Evolent Health also reiterated its 2026 guidance and noted the continued momentum in its Performance Suite business, supported by new payer partnerships and expanded oncology and imaging programs.

This Zacks Rank #2 stock is projected to report 2026 earnings growth of 122.2% on revenue growth of 32.3%. The stock trades at a Price-to-Sales (P/S) F1 ratio of 0.35x, significantly below the industry average of 1.98x. The stock holds a Value Style Score of B. Our research also shows that stocks with a Value Score of A or B, when combined with a Zacks Rank #1, 2 or 3, offer the best upside potential.

Image Source: Zacks Investment Research

HeartBeam: It continues to expand its healthcare IT capabilities by combining AI-ready ECG data with cloud-enabled cardiac diagnostics. In June, HeartBeam announced a strategic shift toward licensing its proprietary 3D ECG signal platform to commercial partners while advancing AI-driven heart attack detection and restructuring operations to improve capital efficiency. The strategy broadens HeartBeam's focus from medical devices to scalable digital cardiac intelligence and software-enabled healthcare solutions.

This Zacks Rank #2 stock is projected to report 2027 earnings growth of 21.1% on revenue growth of 750.5%. The stock holds a Growth Score of A. You can see the complete list of today’s Zacks #1 Rank stocks here.

Image Source: Zacks Investment Research

Key Takeaways HST shares gained 18.8% in three months, supported by demand in key U.S. and Sunbelt markets.HST raised 2026 comparable hotel RevPAR and total RevPAR growth guidance after a strong first quarter.Host Hotels backs growth with capital recycling, strong liquidity and ongoing dividends and share repurchases. Shares of Host Hotels & Resorts Inc. (HST - Free Report) have gained 18.8% in the past three months compared with the industry’s growth of 2.3%.

Host Hotels, which has a portfolio of luxury and upper-upscale hotels in top U.S. markets and the Sunbelt region, is poised to benefit from the strong demand drivers in these markets.

Strong leisure demand and improving group business are expected to support the RevPAR growth through healthy occupancy trends. Also, a strategic capital-recycling program and a healthy balance sheet augur well.

Analysts seem positive on this lodging REIT, which currently carries a Zacks Rank #3 (Hold). The Zacks Consensus Estimate for its 2026 FFO per share has been revised 2 cents northward to $2.13 over the past month.

Image Source: Zacks Investment Research

Factors Behind HST’s Share Price RiseHost Hotels has a strong Sunbelt exposure and a presence in the top 21 U.S. markets. Its properties are strategically located in central business districts, near major airports and resort and conference destinations, which support both leisure and business travel demand.

In the first quarter of 2026, comparable hotel RevPAR rose 4.4% year over year, while comparable hotel total RevPAR increased 4.6%. Reflecting solid demand trends, management raised full-year 2026 comparable hotel RevPAR growth guidance to 3-4.5% and total RevPAR growth guidance to 3.5-5%. The outlook is supported by continued leisure and group travel demand, as well as incremental demand expected from major events, including the 2026 FIFA World Cup. With supply growth in its markets and chain scales remaining low, this backdrop should support continued RevPAR growth.

Host Hotels continues to sell non-strategic assets and redeploy the proceeds into higher-quality hotels and portfolio reinvestment. Per the company’s May 2026 Investor Presentation, from 2021 to 2026, it completed $2.9 billion of dispositions at a 16.2x EBITDA multiple. Its acquisitions during this period totaled $3.3 billion at a 13.3x EBITDA multiple. With the hotel transaction activity remaining relatively muted, the company’s scale and investment-grade balance sheet provide the flexibility to pursue acquisitions and continue capital recycling when valuations are favorable.

Host Hotels maintains a strong balance sheet that provides flexibility to reinvest in its portfolio. As of March 31, 2026, the company had approximately $3.4 billion of total available liquidity. Total debt was approximately $5.1 billion, with a weighted average maturity of 4.9 years and a weighted average interest rate of 4.8%. The company had no significant debt maturities in 2026. Net leverage was 2.5x on a credit facility basis, while 99% of the consolidated portfolio was unencumbered, underscoring its financial flexibility. This strong liquidity position should help Host Hotels fund its 2026 capital program while preserving financial flexibility for acquisitions and shareholder returns, including dividends and share repurchases.

Host Hotels continues to emphasize shareholder returns through dividends and repurchases. The board authorized a regular quarterly dividend of 20 cents per share and a special dividend of 72-cent per share, payable in mid-July to stockholders of record at the end of June. During the first quarter, the company repurchased 4.0 million shares for $75 million at an average price of $18.97, and it had $405 million of remaining authorization at quarter end. This supports continued capital returns to shareholders.

With the factors mentioned above, the positive trend in the stock is expected to continue in the near term.

Risks Likely to Affect HST’s Positive TrendMacroeconomic uncertainty and a cautious approach by many businesses are likely to hurt demand for its properties in the near term. The competitive landscape and elevated interest expenses are other concerns.

Stocks to ConsiderSome better-ranked stocks from the broader REIT sector are Cousins Properties (CUZ - Free Report) and Welltower (WELL - Free Report) , each carrying a Zacks Rank of #2 (Buy) at present. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

The Zacks Consensus Estimate for CUZ’s 2026 FFO per share is pegged at $2.95, which indicates year-over-year growth of 3.87%.

The Zacks Consensus Estimate for WELL’s full-year FFO per share is pinned at $6.32, which calls for an increase of 19.47% from the year-ago period’s level.

Note: Anything related to earnings presented in this write-up represents FFO, a widely used metric to gauge the performance of REITs.

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Growth ScoreGrowth investors, on the other hand, are more concerned with a company's financial strength and health, and its future outlook. The Growth Style Score examines things like projected and historic earnings, sales, and cash flow to find stocks that will experience sustainable growth over time.

Momentum ScoreMomentum traders and investors live by the saying "the trend is your friend." This investing style is all about taking advantage of upward or downward trends in a stock's price or earnings outlook. Employing factors like one-week price change and the monthly percentage change in earnings estimates, the Momentum Style Score can indicate favorable times to build a position in high-momentum stocks.

VGM ScoreIf you like to use all three kinds of investing, then the VGM Score is for you. It's a combination of all Style Scores, and is an important indicator to use with the Zacks Rank. The VGM Score rates each stock on their shared weighted styles, narrowing down the companies with the most attractive value, best growth forecast, and most promising momentum.

How Style Scores Work with the Zacks Rank A proprietary stock-rating model, the Zacks Rank utilizes the power of earnings estimate revisions, or changes to a company's earnings outlook, to help investors create a successful portfolio.

Investors can count on the Zacks Rank's success, with #1 (Strong Buy) stocks producing an unmatched +23.94% average annual return since 1988, more than double the S&P 500's performance. But the model rates a large number of stocks, and there are over 200 companies with a Strong Buy rank, plus another 600 with a #2 (Buy) rank, on any given day.

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To maximize your returns, you want to buy stocks with the highest probability of success. This means picking stocks with a Zacks Rank #1 or #2 that also have Style Scores of A or B. If you find yourself looking at stocks with a #3 (Hold) rank, make sure they have Scores of A or B as well to ensure as much upside potential as possible.

As mentioned above, the Scores are designed to work with the Zacks Rank, so any change to a company's earnings outlook should be a deciding factor when picking which stocks to buy.

For instance, a stock with a #4 (Sell) or #5 (Strong Sell) rating, even one that boasts Scores of A and B, still has a downward-trending earnings forecast, and a much greater likelihood its share price will decline as well.

Thus, the more stocks you own with a #1 or #2 Rank and Scores of A or B, the better.

Stock to Watch: Host Hotels (HST - Free Report) Bethesda, MD-based Host Hotels & Resorts Inc., one of the leading lodging real estate investment trusts (REITs), engages in the ownership, acquisition, and redevelopment of luxury and upper-upscale hotels in the United States and abroad. It is an S&P 500 Index company.

HST is a #3 (Hold) on the Zacks Rank, with a VGM Score of B.

Momentum investors should take note of this Finance stock. HST has a Momentum Style Score of A, and shares are up 7.5% over the past four weeks.

Five analysts revised their earnings estimate higher in the last 60 days for fiscal 2026, while the Zacks Consensus Estimate has increased $0.04 to $2.13 per share. HST also boasts an average earnings surprise of +8.7%.

With a solid Zacks Rank and top-tier Momentum and VGM Style Scores, HST should be on investors' short list.

June 18, 2026 16:30 ET  | Source: Host Hotels & Resorts, L.P.

BETHESDA, Md., June 18, 2026 (GLOBE NEWSWIRE) -- Host Hotels & Resorts, Inc. (NASDAQ: HST) (the “Company”), the nation’s largest lodging real estate investment trust, will report second quarter 2026 financial results on Wednesday, August 5, 2026, after the market close.

The Company will hold a conference call to discuss its second quarter 2026 results and business outlook on Thursday, August 6, 2026 at 10:00 a.m. ET. Conference call access information is as follows:

Conference Call:

USA/Canada Toll Free Number833-461-5787Conference ID509534202   A simultaneous webcast of the call will be available on the Company’s website at www.hosthotels.com.

A replay of the call will be available Thursday, August 6, 2026 until Wednesday, November 4, 2026 via webcast on the Company’s website.

ABOUT HOST HOTELS & RESORTS

Host Hotels & Resorts, Inc. is an S&P 500 company and is the largest lodging real estate investment trust and one of the largest owners of luxury and upper-upscale hotels. The Company currently owns 71 properties in the United States and five properties internationally totaling approximately 41,700 rooms. The Company also holds non-controlling interests in seven domestic joint ventures.

  SOURAV GHOSH
Chief Financial Officer
(240) 744-5267
JAIME MARCUS
Investor Relations
(240) 744-5117
[email protected]

Ryman Hospitality and Host Hotels are the top Lodging REIT picks, offering strong balance sheets, premium assets, and disciplined management. Hotel REITs' daily pricing creates both opportunity and volatility; quality, capital allocation, and prudent leverage are key to long-term outperformance. RHP trades at 12.4x P/AFFO (vs. 15.7x normal), yields 4.4%, and is forecast to deliver 25% annualized returns with a $118 YE price target.

Delivered Comparable Hotel Total RevPAR Growth of 4.6% and Comparable Hotel RevPAR Growth of 4.4% 
Raises Full Year 2026 Comparable Hotel RevPAR Guidance Range to 3.0% to 4.5%
Announces $0.20 Quarterly Dividend and $0.72 Special Dividend

BETHESDA, Md., May 06, 2026 (GLOBE NEWSWIRE) -- Host Hotels & Resorts, Inc. (NASDAQ: HST) (the “Company”), the nation’s largest lodging real estate investment trust (“REIT”), today announced results for first quarter of 2026.

OPERATING RESULTS
(unaudited, in millions, except per share and hotel statistics)

 Quarter ended March 31,    2026  2025 Percent Change Revenues$1,645 $1,594 3.2%Comparable hotel revenues⁽¹⁾ 1,544  1,474 4.7%Comparable hotel Total RevPAR⁽¹⁾ 418.20  399.66 4.6%Comparable hotel RevPAR⁽¹⁾ 244.11  233.77 4.4%      Net income$501 $251 99.6%EBITDAre⁽¹⁾ 537  508 5.7%Adjusted EBITDAre⁽¹⁾ 543  514 5.6%      Diluted earnings per common share$0.72 $0.35 105.7%NAREIT FFO per diluted share⁽¹⁾ 0.66  0.63 4.8%Adjusted FFO per diluted share⁽¹⁾ 0.67  0.64 4.7% * Additional detail on the Company’s results, including data for 24 domestic markets, is available in the First Quarter 2026 Supplemental Financial Information on the Company’s website at www.hosthotels.com. 

James F. Risoleo, President and Chief Executive Officer, said, “Our first quarter results exceeded expectations with comparable hotel RevPAR growth of 4.4% over the first quarter of 2025 as strong leisure demand continued to drive higher room rates coupled with solid group demand. Comparable hotel Total RevPAR increased 4.6% over the same period last year due to strong transient demand and increased out-of-room spending."

Risoleo continued, “As evidenced by our results, affluent consumers are continuing to prioritize spending on travel, and group demand remains steady. As a result, we are increasing our 2026 comparable hotel RevPAR growth guidance range to 3.0% to 4.5% over 2025 and our comparable hotel Total RevPAR growth guidance range to 3.5% to 5.0% over last year. We believe Host's investment grade balance sheet, strong liquidity position, and continued reinvestment in our diversified portfolio uniquely position the Company to capture additional upside in the current environment.”
_______________________________

(1)NAREIT Funds From Operations (“FFO”) per diluted share, Adjusted FFO per diluted share, EBITDAre, Adjusted EBITDAre and comparable hotel revenues are non-GAAP (U.S. generally accepted accounting principles) financial measures within the meaning of the rules of the Securities and Exchange Commission (“SEC”). See the Notes to Financial Information on why the Company believes these supplemental measures are useful, reconciliations to the most directly comparable GAAP measure, and the limitations on the use of these supplemental measures. Additionally, comparable hotel results and statistics include adjustments for dispositions, acquisitions and non-comparable hotels. See Hotel Operating Data for RevPAR results of the portfolio based on the Company's ownership period without these adjustments.   HIGHLIGHTS:

Comparable hotel Total RevPAR was $418.20 for the first quarter of 2026, representing an increase of 4.6% compared to the first quarter of 2025, primarily due to improvements in room revenues from increased transient leisure demand and continued strength in out-of-room spending.Comparable hotel RevPAR was $244.11, representing an increase of 4.4% over the first quarter of 2025, driven primarily by an increase in room rates. This reflected robust leisure demand across the portfolio and an increase in group business, as well as strong performances in San Francisco around the Super Bowl, and in each of the Florida markets. These results were despite difficult comparisons to the first quarter of 2025 and reflect the impacts of the Kona Low rainstorm that affected the Company's Hawaii properties in March 2026.GAAP net income was $501 million, a 99.6% increase compared to the first quarter of 2025, primarily due to the gain on sale of assets in the first quarter of 2026. GAAP operating profit margin was 19.4%, an improvement of 150 basis points compared to the first quarter of 2025, reflecting the improved operations.Comparable hotel EBITDA was $505 million, an increase of 7.0% compared to the first quarter of 2025, leading to a comparable hotel EBITDA margin improvement of 70 basis points to 32.7%. The increase for the quarter was driven by rate improvements, which offset an increase in wage expenses.Adjusted EBITDAre was $543 million, an increase of 5.6% compared to the first quarter of 2025. Results benefited from improved operations and comparable hotel EBITDA margins. In addition, the sale of four condominium units at the development adjacent to the Four Seasons Resort Orlando at Walt Disney World® Resort contributed $4 million to net income and Adjusted EBITDAre.As previously announced, the Company sold the 444-room Four Seasons Resort Orlando at Walt Disney World® Resort and the 125-room Four Seasons Resort and Residences Jackson Hole in February 2026 for a sale price of $1.1 billion. The hotels were expected to have approximately $88 million of capital expenditures needs over the next five years. In addition, the Company sold the St. Regis Houston in January 2026 for $51 million, which was expected to have capital expenditures needs of approximately $49 million over the next five years. 1On May 6, 2026, the Board of Directors authorized a second quarter cash dividend of $0.92 per share on its common stock, consisting of a regular quarterly dividend of $0.20 per share and a special dividend of $0.72 per share, which represents the distribution of the approximately $500 million taxable gain resulting from the Four Seasons sales completed in the first quarter of 2026. The dividend will be paid on July 15, 2026 to stockholders of record on June 30, 2026.As previously reported, the Company received business interruption proceeds of $7 million in the first quarter of 2026 related to damage caused by Hurricanes Helene and Milton in 2024. To date, a total of $81 million of insurance proceeds have been received related to the claims, of which $31 million was related to business interruption proceeds. 1 The Four Seasons proceeds were net of $23 million for the buyer's acquisition of the furniture, fixture and equipment ("FF&E") reserves.

BALANCE SHEET

The Company maintains a robust balance sheet, with the following balances at March 31, 2026:

Total assets of $13.2 billion.Debt balance of $5.1 billion, with a weighted average maturity of 4.9 years and a weighted average interest rate of 4.8%, and no maturities in 2026.Total available liquidity of approximately $3.4 billion, including furniture, fixtures and equipment escrow reserves of $151 million and $1.5 billion available under the revolver portion of the credit facility. The payment of the first and second quarter regular dividend and the special dividend discussed above will reduce the cash balance by approximately $767 million. SHARE REPURCHASES AND DIVIDENDS

During the first quarter of 2026, the Company repurchased 4.0 million shares of common stock at an average price of $18.97 per share, exclusive of commissions, through its common share repurchase program for a total of $75 million. As of March 31, 2026, the Company had $405 million of remaining capacity under the repurchase program, pursuant to which its common stock may be purchased from time to time, depending upon market conditions.

The Company paid a first quarter common stock cash dividend of $0.20 per share on April 15, 2026 to stockholders of record on March 31, 2026. All future dividends, including any special dividends, are subject to approval by the Company’s Board of Directors.

HOTEL BUSINESS MIX UPDATE

The Company’s customers fall into three broad groups: transient, group and contract business, which accounted for approximately 61%, 34%, and 5%, respectively, of its full year 2025 room sales.

The following are the results for transient, group and contract business in comparison to 2025 performance, for the Company's current portfolio:

 Quarter ended March 31, 2026 Transient  Group  Contract Room nights (in thousands) 1,286   1,106   204 Percent change in room nights vs. same period in 2025 (0.6%)  0.7%  8.0%Rooms revenues (in millions)$498  $356  $47 Percent change in revenues vs. same period in 2025 5.5%  2.4%  10.4%             CAPITAL EXPENDITURES

The following presents the Company’s capital expenditures spend through the first quarter of 2026 and the forecast for the full year 2026 (in millions):

 Quarter ended March 31, 2026 2026 Full Year Forecast       Actual Low-end of range High-end of rangeROI - Marriott and Hyatt Transformational Capital Programs$34 $175 $210All other return on investment ("ROI") projects 17  75  90Total ROI Projects 51  250  300Renewals and Replacements ("R&R") 71  275  325R&R and ROI Capital expenditures 122  525  625R&R - Property Damage Reconstruction —  20  30Total Capital Expenditures$122 $545 $655      Inventory spend for condo development(1) 8  15  15Total capital allocation$130 $560 $670 _______________________________

(1)Represents construction costs for the development of condominium units on a land parcel adjacent to Four Seasons Resort Orlando at Walt Disney World® Resort. Under GAAP, costs to develop units for resale are considered an operating activity on the statement of cash flows, and categorized as inventory. This spend is separate from payments for capital expenditures, which are considered investing activities.   The forecast property damage reconstruction includes estimated spend for damage caused by the Kona Low rainstorm to the Company's properties in Hawaii. Remediation efforts are substantially complete, and the hotels remained operational with isolated instances of water damage. The Company is still evaluating the complete property and business interruption impacts of the storm, but currently estimates the total property costs to be approximately $25 million to $35 million, which includes remediation costs of up to $5 million. The Company expects its insurance coverage to substantially cover the property damage in excess of the insurance deductible.

Under the Hyatt and Marriott Transformational Capital Programs, the Company received $3 million of operating guarantees in the first quarter of 2026 to offset expected business disruption. The Company expects to receive a total of $19 million of operating guarantees in 2026 under the two programs. The transformational renovation at the Hyatt Regency Reston was completed in the first quarter of 2026.

2026 OUTLOOK

First quarter of 2026 results exceeded expectations with strong leisure demand driving an increase in rates. Comparable hotel RevPAR for April also grew approximately 4.4% over 2025. The 2026 guidance range contemplates a continuation of this trend in a stable operating environment, with leisure transient strength bolstered by special events, such as the FIFA World Cup games, and modest improvements to short-term group booking trends. Full year operating profit margins and comparable hotel EBITDA margins are expected to increase slightly compared to 2025, as first quarter rate improvements offset increases in wage expense, while year-over-year comparisons are expected to moderate, particularly for the second half of the year, primarily due to lower room rate growth expectations.

In comparison to 2025, the guidance reflects a reduction in earnings due to the 2026 and 2025 dispositions. The guidance for net income and Adjusted EBITDAre also includes an estimated $20 million to $25 million net contribution for the year from total sales expected to close at the condominium development adjacent to the Four Seasons Resort Orlando at Walt Disney World® Resort. Additionally, the final determination on insurance claims related to Hurricanes Helene and Milton is expected in 2026, but no additional amounts from what was received in first quarter are included in guidance.

The Company anticipates its 2026 operating results as compared to 2025 will be in the following range:

 Current Full Year
2026 Guidance Current Full Year
2026 Guidance
Change vs. 2025 Previous Full Year
2026 Guidance
Change vs. 2025 Change in Full Year
2026 Guidance
to the Mid-PointComparable hotel Total RevPAR$386 to $391 3.5% to 5.0% 2.5% to 4.0% 100 bpsComparable hotel RevPAR$230 to $233 3.0% to 4.5% 2.0% to 3.5% 100 bpsTotal revenues under GAAP (in millions)$6,097 to $6,184 (0.3%) to 1.1% (1.4%) to 0.1% 100 bpsOperating profit margin under GAAP14.4% to 15.1% 40 bps to 110 bps (10) bps to 60 bps 50 bpsComparable hotel EBITDA margin29.4% to 29.7% 20 bps to 50 bps (20) bps to 20 bps 30 bps         Based upon the above parameters, the Company estimates its 2026 guidance as follows:

 Current Full Year
2026 Guidance Previous Full Year
2026 Guidance Change in Full Year
2026 Guidance
to the Mid-PointNet income (in millions)$908 to $955 $836 to $891 $67Adjusted EBITDAre (in millions)$1,785 to $1,835 $1,740 to $1,800 $40Diluted earnings per common share$1.30 to $1.37 $1.19 to $1.27 $0.10NAREIT FFO per diluted share$2.06 to $2.12 $1.99 to $2.07 $0.06Adjusted FFO per diluted share$2.10 to $2.16 $2.03 to $2.11 $0.06       See the 2026 Forecast Schedules and the Notes to Financial Information for items that may affect forecast results and the First Quarter 2026 Supplemental Financial Information for additional detail on the mid-point of full year 2026 guidance.

ABOUT HOST HOTELS & RESORTS

Host Hotels & Resorts, Inc. is an S&P 500 company and is the largest lodging real estate investment trust and one of the largest owners of luxury and upper-upscale hotels. The Company currently owns 71 properties in the United States and five properties internationally totaling approximately 41,700 rooms. The Company also holds non-controlling interests in seven domestic joint ventures. Guided by a disciplined approach to capital allocation and aggressive asset management, the Company partners with premium brands such as Marriott®, Ritz-Carlton®, Westin®, W®, The Luxury Collection®, Hyatt®, Fairmont®, 1 Hotels®, Hilton®, Swissôtel®, ibis® and Novotel®, as well as independent brands. For additional information, please visit the Company’s website at www.hosthotels.com. 

Note: This press release contains forward-looking statements within the meaning of federal securities regulations. These forward-looking statements include, but may not be limited to, our expectations regarding the strength of lodging demand, the continued recovery in Maui from the 2023 wildfires, and 2026 estimates with respect to our business, including our anticipated capital expenditures and financial and operating results. Forward-looking statements are not guarantees of future performance and involve known and unknown risks, uncertainties and other factors which may cause the actual results to differ materially from those anticipated at the time the forward-looking statements are made. These risks include, but are not limited to, those described in the Company’s annual report on Form 10-K and other filings with the SEC. Although the Company believes the expectations reflected in such forward-looking statements are based upon reasonable assumptions, it can give no assurance that the expectations will be attained or that any deviation will not be material. All information in this release is as of May 6, 2026, and the Company undertakes no obligation to update any forward-looking statement to conform the statement to actual results or changes in the Company’s expectations.

* This press release contains registered trademarks that are the exclusive property of their respective owners. None of the owners of these trademarks have any responsibility or liability for any information contained in this press release.

*** Tables to Follow ***

Host Hotels & Resorts, Inc., herein referred to as “we,” “Host Inc.,” or the “Company,” is a self-managed and self-administered real estate investment trust that owns hotel properties. We conduct our operations as an umbrella partnership REIT through an operating partnership, Host Hotels & Resorts, L.P. (“Host LP”), of which we are the sole general partner. When distinguishing between Host Inc. and Host LP, the primary difference is approximately 1% of the partnership interests in Host LP held by outside partners as of March 31, 2026, which are non-controlling interests in Host LP in our consolidated balance sheets and are included in net (income) loss attributable to non-controlling interests in our condensed consolidated statements of operations. Readers are encouraged to find further detail regarding our organizational structure in our annual report on Form 10-K.

HOST HOTELS & RESORTS, INC.
Condensed Consolidated Balance Sheets
(unaudited, in millions, except shares and per share amounts)       March 31,
2026 December 31,
2025     ASSETSProperty and equipment, net $9,698  $10,636 Right-of-use assets  563   560 Assets held for sale  9   34 Due from managers  129   39 Advances to and investments in affiliates  284   259 Furniture, fixtures and equipment replacement fund  151   167 Notes receivable  114   114 Other  503   472 Cash and cash equivalents  1,703   768 Total assets $13,154  $13,049      LIABILITIES, NON-CONTROLLING INTERESTS AND EQUITYDebt⁽¹⁾    Senior notes $3,988  $3,986 Credit facility, including the term loans of $999  997   996 Mortgage and other debt  94   95 Total debt  5,079   5,077 Lease liabilities  566   563 Accounts payable and accrued expenses  246   355 Due to managers  4   76 Other  245   246 Total liabilities  6,140   6,317      Redeemable non-controlling interests - Host Hotels & Resorts, L.P.  184   171      Host Hotels & Resorts, Inc. stockholders’ equity:    Common stock, par value $0.01, 1,050 million shares authorized, 684.9 million shares and 687.8 million shares issued and outstanding, respectively  7   7 Additional paid-in capital  7,199   7,289 Accumulated other comprehensive loss  (65)  (68)Deficit  (314)  (670)Total equity of Host Hotels & Resorts, Inc. stockholders  6,827   6,558 Non-redeemable non-controlling interests—other consolidated partnerships  3   3 Total equity  6,830   6,561 Total liabilities, non-controlling interests and equity $13,154  $13,049  _______________________________

(1)Please see our First Quarter 2026 Supplemental Financial Information for more detail on our debt balances and financial covenant ratios under our credit facility and senior notes indentures.   HOST HOTELS & RESORTS, INC.
Condensed Consolidated Statements of Operations
(unaudited, in millions, except per share amounts)     Quarter ended March 31,   2026   2025 Revenues    Rooms $943  $938 Food and beverage  517   503 Other  159   153 Condominium sales  26   — Total revenues  1,645   1,594 Expenses    Rooms  224   225 Food and beverage  327   323 Other departmental and support expenses  373   364 Management fees  67   69 Other property-level expenses  103   111 Depreciation and amortization  190   196 Cost of goods sold  21   — Corporate and other expenses⁽¹⁾  28   31 Net gain on insurance settlements  (7)  (10)Total operating costs and expenses  1,326   1,309 Operating profit  319   285 Interest income  12   8 Interest expense  (59)  (57)Other gains  242   4 Equity in earnings of affiliates  4   10 Income before income taxes  518   250 Benefit (provision) for income taxes  (17)  1 Net income  501   251 Less: Net income attributable to non-controlling interests  (7)  (3)Net income attributable to Host Inc. $494  $248 Basic and diluted earnings per common share $0.72  $0.35  _______________________________

(1)Corporate and other expenses include the following items:     Quarter ended March 31,  2026 2025General and administrative costs $22 $25Non-cash stock-based compensation expense  6  6Total $28 $31        HOST HOTELS & RESORTS, INC.
Earnings per Common Share
(unaudited, in millions, except per share amounts)     Quarter ended March 31,   2026   2025 Net income $501  $251 Less: Net income attributable to non-controlling interests  (7)  (3)Net income attributable to Host Inc. $494  $248      Basic weighted average shares outstanding  687.5   697.8 Assuming distribution of common shares granted under the comprehensive stock plans, less shares assumed purchased at market  1.8   0.5 Diluted weighted average shares outstanding⁽¹⁾  689.3   698.3 Basic and diluted earnings per common share $0.72  $0.35  _______________________________

(1)Dilutive securities may include shares granted under comprehensive stock plans, preferred operating partnership units (“OP Units”) held by non-controlling limited partners and other non-controlling interests that have the option to convert their limited partnership interests to common OP Units. No effect is shown for any securities that were anti-dilutive for the period.   HOST HOTELS & RESORTS, INC.
Hotel Operating Data for Consolidated Hotels

Comparable Hotel Results by Location(1)

 As of March 31, 2026 Quarter ended March 31, 2026 Quarter ended March 31, 2025    LocationNo. of
Properties No. of
Rooms Average
Room Rate Average
Occupancy
Percentage RevPAR Total RevPAR Average
Room Rate Average
Occupancy
Percentage RevPAR Total RevPAR Percent
Change in
RevPAR Percent
Change in
Total RevPARMiami2 1,038 $723.32 87.2% $630.77 $1,069.78 $652.77 84.1% $548.88 $921.13 14.9% 16.1%Florida Gulf Coast4 1,529  693.90 79.2%  549.46  1,158.45  637.22 81.6%  519.77  1,103.93 5.7% 4.9%Maui3 1,580  668.13 78.0%  520.91  800.88  683.78 75.0%  513.04  788.61 1.5% 1.6%Phoenix3 1,565  528.97 83.2%  439.93  922.54  500.68 81.3%  407.28  890.19 8.0% 3.6%Jacksonville1 446  565.94 73.3%  414.58  989.96  524.64 68.0%  356.95  828.70 16.1% 19.5%Oahu2 876  495.26 76.7%  379.96  571.86  483.66 83.8%  405.20  625.53 (6.2%) (8.6%)New York3 2,720  343.81 80.5%  276.66  418.04  327.97 79.0%  258.99  382.34 6.8% 9.3%Nashville2 721  339.15 76.7%  260.04  445.92  324.92 80.4%  261.13  451.22 (0.4%) (1.2%)Los Angeles/Orange County3 1,067  314.80 78.6%  247.31  364.97  311.12 79.2%  246.38  368.36 0.4% (0.9%)San Francisco/San Jose6 4,162  344.91 69.6%  239.89  346.89  300.24 63.6%  191.05  285.73 25.6% 21.4%San Diego3 3,294  312.85 75.1%  234.98  463.12  301.96 72.7%  219.60  433.52 7.0% 6.8%Orlando1 2,004  268.46 76.2%  204.64  508.55  260.42 74.9%  195.13  488.25 4.9% 4.2%Washington, D.C. (CBD)4 2,788  304.15 62.9%  191.30  291.68  333.42 67.2%  223.90  328.62 (14.6%) (11.2%)Northern Virginia2 916  268.57 69.2%  185.73  287.38  271.39 65.4%  177.61  289.32 4.6% (0.7%)Austin2 769  271.16 67.6%  183.24  330.58  267.21 67.4%  180.05  324.90 1.8% 1.7%Houston4 1,710  229.11 74.7%  171.25  235.94  220.34 74.3%  163.72  233.72 4.6% 0.9%Philadelphia2 810  224.32 75.3%  168.99  256.23  217.69 76.8%  167.08  260.44 1.1% (1.6%)San Antonio2 1,512  241.61 65.1%  157.18  266.06  229.79 66.3%  152.40  252.38 3.1% 5.4%Atlanta2 810  222.75 68.3%  152.14  272.12  222.74 67.3%  149.83  256.93 1.5% 5.9%Boston2 1,496  241.81 59.4%  143.75  224.63  235.02 64.9%  152.52  223.00 (5.8%) 0.7%New Orleans1 1,333  204.42 64.0%  130.89  218.92  256.20 71.4%  182.91  278.00 (28.4%) (21.3%)Seattle2 1,315  210.15 55.3%  116.32  165.55  212.06 54.7%  116.05  159.55 0.2% 3.8%Denver3 1,342  188.23 55.4%  104.22  166.69  183.68 55.6%  102.11  159.71 2.1% 4.4%Chicago3 1,562  182.02 51.8%  94.38  145.04  186.39 53.0%  98.78  147.67 (4.5%) (1.8%)Other7 2,110  307.33 66.7%  205.02  299.70  303.72 64.4%  195.71  291.28 4.8% 2.9%Domestic69 39,475  352.13 70.7%  248.82  427.75  339.59 70.3%  238.66  409.58 4.3% 4.4%                        International5 1,499  197.46 60.8%  120.02  165.34  172.01 61.0%  104.88  136.91 14.4% 20.8%All Locations74 40,974 $347.24 70.3% $244.11 $418.20 $334.24 69.9% $233.77 $399.66 4.4% 4.6% _______________________________

(1)See the Notes to Financial Information for a discussion of comparable hotel operating statistics. CBD of a location refers to the central business district. Hotel RevPAR is calculated as room revenues divided by the available room nights. Hotel Total RevPAR is calculated by dividing the sum of rooms, food and beverage and other revenues by the available room nights.   Results by Location - actual, based on ownership period(1)

 As of March 31,                     2026 2025 Quarter ended March 31, 2026 Quarter ended March 31, 2025    LocationNo. of
Properties No. of
Properties Average
Room Rate Average
Occupancy
Percentage RevPAR Total RevPAR Average
Room Rate Average
Occupancy
Percentage RevPAR Total RevPAR Percent
Change in
RevPAR Percent
Change in
Total RevPARMiami2 2 $723.32 87.2% $630.77 $1,069.78 $652.77 84.1% $548.88 $921.13 14.9% 16.1%Florida Gulf Coast5 5  659.61 78.7%  519.00  1,084.79  626.09 69.5%  434.83  913.78 19.4% 18.7%Maui3 3  668.13 78.0%  520.91  800.88  683.78 75.0%  513.04  788.61 1.5% 1.6%Phoenix3 3  528.97 83.2%  439.93  922.54  500.68 81.3%  407.28  890.19 8.0% 3.6%Jacksonville1 1  565.94 73.3%  414.58  989.96  524.64 68.0%  356.95  828.70 16.1% 19.5%Oahu2 2  495.26 76.7%  379.96  571.86  483.66 83.8%  405.20  625.53 (6.2%) (8.6%)New York3 3  343.81 80.5%  276.66  418.04  327.97 79.0%  258.99  382.34 6.8% 9.3%Nashville2 2  339.15 76.7%  260.04  445.92  324.92 80.4%  261.13  451.22 (0.4%) (1.2%)Los Angeles/Orange County3 3  314.80 78.6%  247.31  364.97  311.12 79.2%  246.38  368.36 0.4% (0.9%)San Francisco/San Jose6 6  344.91 69.6%  239.89  346.89  300.24 63.6%  191.05  285.73 25.6% 21.4%San Diego3 3  312.85 75.1%  234.98  463.12  301.96 72.7%  219.60  433.52 7.0% 6.8%Orlando1 2  355.01 74.5%  264.55  596.12  435.81 73.3%  319.65  660.15 (17.2%) (9.7%)Washington, D.C. (CBD)4 5  304.15 62.9%  191.30  291.68  328.11 68.0%  223.24  322.78 (14.3%) (9.6%)Northern Virginia2 2  268.57 69.2%  185.73  287.38  271.39 65.4%  177.61  289.32 4.6% (0.7%)Austin2 2  271.16 67.6%  183.24  330.58  267.21 67.4%  180.05  324.90 1.8% 1.7%Houston4 5  229.31 74.3%  170.36  234.91  232.08 71.7%  166.43  238.70 2.4% (1.6%)Philadelphia2 2  224.32 75.3%  168.99  256.23  217.69 76.8%  167.08  260.44 1.1% (1.6%)San Antonio2 2  241.61 65.1%  157.18  266.06  229.79 66.3%  152.40  252.38 3.1% 5.4%Atlanta2 2  222.75 68.3%  152.14  272.12  222.74 67.3%  149.83  256.93 1.5% 5.9%Boston2 2  241.81 59.4%  143.75  224.63  235.02 64.9%  152.52  223.00 (5.8%) 0.7%New Orleans1 1  204.42 64.0%  130.89  218.92  256.20 71.4%  182.91  278.00 (28.4%) (21.3%)Seattle2 2  210.15 55.3%  116.32  165.55  212.06 54.7%  116.05  159.55 0.2% 3.8%Denver3 3  188.23 55.4%  104.22  166.69  183.68 55.6%  102.11  159.71 2.1% 4.4%Chicago3 3  182.02 51.8%  94.38  145.04  186.39 53.0%  98.78  147.67 (4.5%) (1.8%)Other8 10  357.25 63.4%  226.37  345.16  371.12 60.7%  225.44  350.98 0.4% (1.7%)Domestic71 76  360.68 70.4%  253.83  437.23  352.99 69.3%  244.68  417.24 3.7% 4.8%                        International5 5  197.46 60.8%  120.02  165.34  172.01 61.0%  104.88  136.91 14.4% 20.8%All Locations76 81 $355.63 70.0% $249.07 $427.58 $347.48 69.0% $239.86 $407.62 3.8% 4.9% _______________________________

(1)Represents the results of the portfolio for the time period of our ownership, including the results of non-comparable properties, dispositions through their date of disposal and acquisitions beginning as of the date of acquisition.   HOST HOTELS & RESORTS, INC.
Schedule of Comparable Hotel Results (1)
(unaudited, in millions, except hotel statistics)   Quarter ended March 31,  2026   2025 Number of hotels 74   74 Number of rooms 40,974   40,974 Change in comparable hotel Total RevPAR 4.6%  — Change in comparable hotel RevPAR 4.4%  — Operating profit margin⁽²⁾ 19.4%  17.9%Comparable hotel EBITDA margin⁽²⁾ 32.7%  32.0%Food and beverage profit margin⁽²⁾ 36.8%  35.8%Comparable hotel food and beverage profit margin⁽²⁾ 37.2%  36.5%    Net income$501  $251 Depreciation and amortization 190   196 Interest expense 59   57 Provision (benefit) for income taxes 17   (1)Gain on sale of property and corporate level income/expense (230)  9 Property transaction adjustments⁽³⁾ (11)  (34)Non-comparable hotel results, net⁽⁴⁾ (17)  (6)Condominium sales (5) (4)  — Comparable hotel EBITDA⁽¹⁾$505  $472  _______________________________

(1)See the Notes to Financial Information for a discussion of comparable hotel results, which are non-GAAP measures, and the limitations on their use. For additional information on comparable hotel EBITDA by location, see the First Quarter 2026 Supplemental Financial Information posted on our website.(2)Profit margins are calculated by dividing the applicable operating profit by the related revenue amount. GAAP profit margins are calculated using amounts presented in the unaudited condensed consolidated statements of operations. Comparable hotel margins are calculated using amounts presented in the following tables, which include reconciliations to the applicable GAAP results:    Quarter ended March 31, 2026 Quarter ended March 31, 2025   Adjustments      Adjustments   GAAP Results  Property transaction
adjustments ⁽³⁾ Non-comparable hotel
results, net ⁽⁴⁾ Condominium sales (5) Depreciation and
corporate level items Comparable hotel
Results  GAAP Results  Property transaction
adjustments (3) Non-comparable hotel
results, net ⁽⁴⁾ Depreciation and
corporate level items Comparable hotel
Results Revenues                     Room$943  $(30) $(12) $—  $—  $901 $938  $(73) $(3) $—  $862Food and beverage 517   (15)  (7)  —   —   495  503   (31)  —   —   472Other 159   (7)  (4)  —   —   148  153   (13)  —   —   140Condominium sales 26   —   —   (26)  —   —  —   —   —   —   —Total revenues 1,645   (52)  (23)  (26)  —   1,544  1,594   (117)  (3)  —   1,474Expenses                     Room 224   (6)  (2)  —   —   216  225   (14)  (1)  —   210Food and beverage 327   (11)  (5)  —   —   311  323   (22)  (1)  —   300Other 543   (24)  (6)  (1)  —   512  544   (47)  (5)  —   492Depreciation and amortization 190   —   —   —   (190)  —  196   —   —   (196)  —Cost of goods sold 21   —   —   (21)  —   —  —   —   —   —   —Corporate and other expenses 28   —   —   —   (28)  —  31   —   —   (31)  —Net gain on insurance settlements (7)  —   7   —   —   —  (10)  —   10   —   —Total expenses 1,326   (41)  (6)  (22)  (218)  1,039  1,309   (83)  3   (227)  1,002Operating Profit - Comparable hotel EBITDA$319  $(11) $(17) $(4) $218  $505 $285  $(34) $(6) $227  $472 (3)Property transaction adjustments represent the following items: (i) the elimination of results of operations of hotels sold or held-for-sale as of the reporting date, which operations are included in our unaudited condensed consolidated statements of operations as continuing operations, and (ii) the addition of results for periods prior to our ownership for hotels acquired as of the reporting date.(4)Non-comparable hotel results, net, includes the following items: (i) the results of operations of our non-comparable hotels, which operations are included in our condensed consolidated statements of operations as continuing operations, and (ii) gains on business interruption proceeds covering lost revenues while the property was considered non-comparable. (5)Includes revenues and costs, including marketing and administrative expenses of approximately $1 million in 2026, related to the development and sale of condominium units adjacent to the Four Seasons Resort Orlando at Walt Disney World® Resort.   HOST HOTELS & RESORTS, INC.
Reconciliation of Net Income to
EBITDA, EBITDAre and Adjusted EBITDAre (1)
(unaudited, in millions)   Quarter ended March 31,  2026   2025 Net income⁽²⁾$501  $251 Interest expense 59   57 Depreciation and amortization 190   196 Income taxes 17   (1)EBITDA⁽²⁾ 767   503 Gain on dispositions⁽³⁾ (242)  — Equity investment adjustments:   Equity in earnings of affiliates (4)  (10)Pro rata EBITDAre of equity investments⁽⁴⁾ 16   15 EBITDAre⁽²⁾ 537   508 Adjustments to EBITDAre:   Non-cash stock-based compensation expense 6   6 Adjusted EBITDAre⁽²⁾$543  $514  _______________________________

(1)See the Notes to Financial Information for discussion of non-GAAP measures.(2)Net income, EBITDA, EBITDAre, Adjusted EBITDAre, NAREIT FFO and Adjusted FFO for the quarter ended March 31, 2025 include a gain of $4 million from the sale of land adjacent to The Phoenician hotel.(3)Reflects the sale of three hotels in the first quarter of 2026.(4)Unrealized gains of our unconsolidated investments are not recognized in our EBITDAre, Adjusted EBITDAre, NAREIT FFO or Adjusted FFO until they have been realized by the unconsolidated partnership.   HOST HOTELS & RESORTS, INC.
Reconciliation of Diluted Earnings per Common Share to
NAREIT and Adjusted Funds From Operations per Diluted Share (1)
(unaudited, in millions, except per share amounts)   Quarter ended March 31,  2026   2025 Net income⁽²⁾$501  $251 Less: Net income attributable to non-controlling interests (7)  (3)Net income attributable to Host Inc. 494   248 Adjustments:   Gain on dispositions⁽³⁾ (242)  — Tax on dispositions 5   — Depreciation and amortization 189   195 Equity investment adjustments:   Equity in earnings of affiliates (4)  (10)Pro rata FFO of equity investments⁽⁴⁾ 11   10 Consolidated partnership adjustments:   FFO adjustment for non-controlling interests of Host L.P. 1   (3)NAREIT FFO⁽²⁾ 454   440 Adjustments to NAREIT FFO:   Non-cash stock-based compensation expense 6   6 Adjusted FFO⁽²⁾$460  $446     For calculation on a per share basis:⁽⁵⁾       Diluted weighted average shares outstanding - EPS, NAREIT FFO and Adjusted FFO 689.3   698.3 Diluted earnings per common share$0.72  $0.35 NAREIT FFO per diluted share$0.66  $0.63 Adjusted FFO per diluted share$0.67  $0.64  _______________________________

(1-4)Refer to the corresponding footnote on the Reconciliation of Net Income to EBITDA, EBITDAre and Adjusted EBITDAre.(5)Diluted earnings per common share, NAREIT FFO per diluted share and Adjusted FFO per diluted share are adjusted for the effects of dilutive securities. Dilutive securities may include shares granted under comprehensive stock plans, preferred OP units held by non-controlling limited partners and other non-controlling interests that have the option to convert their limited partner interests to common OP units. No effect is shown for securities if they are anti-dilutive.   HOST HOTELS & RESORTS, INC.
Reconciliation of Net Income to
EBITDA, EBITDAre and Adjusted EBITDAre and Diluted Earnings per Common Share to
NAREIT and Adjusted Funds From Operations per Diluted Share for Full Year 2026 Forecasts (1)(2)
(unaudited, in millions)   Full Year 2026 Low-end of range  High-end of range Net income$908  $955 Interest expense 242   242 Depreciation and amortization 756   756 Income taxes 51   54 EBITDA 1,957   2,007 Gain on dispositions (242)  (242)Equity investment adjustments:   Equity in earnings of affiliates (17)  (18)Pro rata EBITDAre of equity investments 61   62 EBITDAre 1,759   1,809 Adjustments to EBITDAre:   Non-cash stock-based compensation expense 26   26 Adjusted EBITDAre$1,785  $1,835   Full Year 2026 Low-end of range  High-end of range Net income $908  $955 Less: Net income attributable to non-controlling interests (14)  (15)Net income attributable to Host Inc.  894   940 Adjustments:   Gain on dispositions (242)  (242)Tax on dispositions 5   5 Depreciation and amortization 754   754 Equity investment adjustments:   Equity in earnings of affiliates (17)  (18)Pro rata FFO of equity investments 31   32 Consolidated partnership adjustments:   FFO adjustment for non-controlling partnerships (1)  (1)FFO adjustment for non-controlling interests of Host LP (7)  (7)NAREIT FFO 1,417   1,463 Adjustments to NAREIT FFO:   Non-cash stock-based compensation expense 26   26 Adjusted FFO $1,443  $1,489     Diluted weighted average shares outstanding - EPS, NAREIT FFO and Adjusted FFO 688.6   688.6 Diluted earnings per common share $1.30  $1.37 NAREIT FFO per diluted share $2.06  $2.12 Adjusted FFO per diluted share $2.10  $2.16  _______________________________

(1)The Forecasts are based on the below assumptions: • Comparable hotel RevPAR will increase 3.0% to 4.5% compared to 2025 for the low and high end of the forecast range. This forecast assumes a continued recovery at our Maui properties from the 2023 wildfires, however the timing of Maui's full recovery remains uncertain. • Comparable hotel RevPAR will increase 3.0% to 4.5% compared to 2025 for the low and high end of the forecast range. This forecast assumes a continued recovery at our Maui properties from the 2023 wildfires, however the timing of Maui's full recovery remains uncertain. • Comparable hotel EBITDA margins will increase 20 basis points to 50 basis points compared to 2025 for the low and high end of the forecast comparable hotel RevPAR range, respectively. • We expect to spend approximately $545 million to $655 million on capital expenditures. • Assumes the disposition of Sheraton Parsippany during the year with no additional dispositions and no acquisitions during the year. There can be no assurances that the sale will be completed. • This forecast makes no assumptions on the use of the remaining proceeds from the Four Seasons sale, though we will weigh potential cash uses which may include, subject to market conditions, acquisitions, other investments in our portfolio, continued common stock repurchases or increased dividends, which dividends could be in excess of taxable income. Any additional special dividend will be subject to approval by Host Inc.’s Board of Directors. • Assumes an approximate $20 million to $25 million contribution to net income and Adjusted EBITDAre from the sale of condominium units. • Includes $7 million of gain from business interruption proceeds related to hurricane claims already received in 2026, but assumes no further business interruption proceeds during the year. For a discussion of items that may affect forecast results, see the Notes to Financial Information.

HOST HOTELS & RESORTS, INC.
Schedule of Comparable Hotel Results for Full Year 2026 Forecasts (1)(2)
(unaudited, in millions)   Full Year 2026 Low-end of range  High-end of range Operating profit margin(3) 14.4%  15.1%Comparable hotel EBITDA margin(3) 29.4%  29.7%    Net income$908  $955 Depreciation and amortization 756   756 Interest expense 242   242 Provision for income taxes 51   54 Gain on sale of property and corporate level income/expense (195)  (195)Property transaction adjustments(4) (11)  (11)Non-comparable hotel results, net(5) (35)  (36)Condominium sales (6) (20)  (25)Comparable hotel EBITDA(1)$1,696  $1,740  _______________________________

(1)See "Reconciliation of Net Income to EBITDA, EBITDAre and Adjusted EBITDAre and Diluted Earnings per Common Share to NAREIT and Adjusted Funds From Operations per Diluted Share for Full Year 2026 Forecasts" for other forecast assumptions.(2)Forecast comparable hotel results include 74 hotels (of our 76 hotels owned at March 31, 2026) that we have assumed will be classified as comparable as of December 31, 2026. See footnote (5) for details on our non-comparable hotel results.(3)Profit margins are calculated by dividing the applicable operating profit by the related revenue amount. GAAP profit margins are calculated using amounts presented in the unaudited condensed consolidated statements of operations. Comparable hotel margins are calculated using amounts presented in the following tables, which include reconciliations to the applicable GAAP results:    Low-end of range  High-end of range    Adjustments     Adjustments   GAAP Results  Property transaction adjustments Non-comparable hotel
results, net Condo-minium sales Depreciation and
corporate level items Comparable hotel
Results  GAAP Results  Property transaction adjustments Non-comparable hotel
results, net Condo-minium sales Depreciation and
corporate level items Comparable hotel
Results Revenues                       Rooms$3,514  $(30) $(39) $—  $—  $3,445 $3,563  $(30) $(39) $—  $—  $3,494Food and beverage 1,819   (15)  (28)  —   —   1,776  1,844   (15)  (28)  —   —   1,801Other 764   (7)  (14)  (188)  —   555  777   (7)  (14)  (193)  —   563Total revenues 6,097   (52)  (81)  (188)  —   5,776  6,184   (52)  (81)  (193)  —   5,858Expenses                       Hotel expenses 4,180   (41)  (53)  (6)  —   4,080  4,217   (41)  (52)  (6)  —   4,118Depreciation and amortization 756   —   —   —   (756)  —  756   —   —   —   (756)  —Cost of goods sold 162   —   —   (162)  —   —  162   —   —   (162)  —   —Corporate and other expenses 125   —   —   —   (125)  —  125   —   —   —   (125)  —Net gain on insurance settlements (7)  —   7   —   —   —  (7)  —   7   —   —   —Total expenses 5,216   (41)  (46)  (168)  (881)  4,080  5,253   (41)  (45)  (168)  (881)  4,118Operating Profit - Comparable hotel EBITDA$881  $(11) $(35) $(20) $881  $1,696 $931  $(11) $(36) $(25) $881  $1,740                         (4)Property transaction adjustments represent the following items: (i) the elimination of results of operations of hotels sold or held-for-sale as of the reporting date, which operations are included in our unaudited condensed consolidated statements of operations as continuing operations, and (ii) the addition of results for periods prior to our ownership for hotels acquired as of the reporting date. Forecast data also eliminates results of hotels assumed to be sold during the year.(5)Non-comparable hotel results, net, includes the following items: (i) the results of operations of our non-comparable hotels, which operations are included in our condensed consolidated statements of operations as continuing operations, and (ii) gains on business interruption proceeds covering lost revenues while the property was considered non-comparable. The following property that we own and that is not classified as held-for-sale, is expected to be non-comparable for full year 2026: • The Don CeSar (business disruption due to Hurricane Helene resulting in closure of the hotel beginning at the end of September 2024, reopened in March 2025)(6)Includes revenues and costs, including marketing and administrative expenses of approximately $6 million, related to the development and sale of condominium units adjacent to the Four Seasons Resort Orlando at Walt Disney World® Resort.   HOST HOTELS & RESORTS, INC.
Notes to Financial Information

FORECASTS

Our forecast of net income, earnings per diluted share, NAREIT and Adjusted FFO per diluted share, EBITDA, EBITDAre, Adjusted EBITDAre and comparable hotel results are forward-looking statements and are not guarantees of future performance and involve known and unknown risks, uncertainties and other factors which may cause actual results and performance to differ materially from those expressed or implied by these forecasts. Although we believe the expectations reflected in the forecasts are based upon reasonable assumptions, we can give no assurance that the expectations will be attained or that the results will not be materially different. Risks that may affect these assumptions and forecasts include the following: potential changes in overall economic outlook make it inherently difficult to forecast the level of RevPAR, earnings and profitability; the amount and timing of debt payments may change significantly based on market conditions, which will directly affect the level of interest expense and net income; the amount and timing of transactions involving shares of our common stock may change based on market conditions; and other risks and uncertainties associated with our business described herein and in our annual report on Form 10-K, quarterly reports on Form 10-Q and current reports on Form 8-K filed with the SEC.

COMPARABLE HOTEL OPERATING STATISTICS AND RESULTS

To facilitate a year-to-year comparison of our operations, we present certain operating statistics (i.e., Total RevPAR, RevPAR, average daily rate and average occupancy) and operating results (revenues, expenses, hotel EBITDA and associated margins) for the periods included in our reports on a comparable hotel basis in order to enable our investors to better evaluate our operating performance. We define our comparable hotels as those that: (i) are owned or leased by us as of the reporting date and are not classified as held-for-sale; and (ii) have not sustained substantial property damage or business interruption, or undergone large-scale capital projects, in each case requiring closures lasting one month or longer (as further defined below), during the reporting periods being compared.

We make adjustments to include recent acquisitions to include results for periods prior to our ownership. For these hotels, since the year-over-year comparison includes periods prior to our ownership, the changes will not necessarily correspond to changes in our actual results. Additionally, operating results of hotels that we sell are excluded from the comparable hotel set once the transaction has closed or the hotel is classified as held-for-sale.

The hotel business is capital-intensive and renovations are a regular part of the business. Generally, hotels under renovation remain comparable hotels. A large-scale capital project would cause a hotel to be excluded from our comparable hotel set if it requires the entire property to be closed to hotel guests for one month or longer.

Similarly, hotels are excluded from our comparable hotel set from the date that they sustain substantial property damage or business interruption if it requires the property to be closed to hotel guests for one month or longer. In each case, these hotels are returned to the comparable hotel set when the operations of the hotel have been included in our consolidated results for one full calendar year after the hotel has reopened. Often, related to events that cause property damage and the closure of a hotel, we will collect business interruption insurance proceeds for the near-term loss of business. These proceeds are included in net gain on insurance settlements on our condensed consolidated statements of operations. Business interruption insurance gains covering lost revenues while the property was considered non-comparable also will be excluded from the comparable hotel results.

Of the 76 hotels that we owned as of March 31, 2026, 74 have been classified as comparable hotels. The operating results of the following properties that we owned, and that were not classified as held-for-sale, as of March 31, 2026 are excluded from comparable hotel results for these periods:

The Don CeSar (business disruption due to Hurricane Helene resulting in closure of the hotel beginning at the end of September 2024, reopened in March 2025); andOperations related to the development and sale of condominium units on a development parcel adjacent to the Four Seasons Resort Orlando at Walt Disney World® Resort. At March 31, 2026, the Sheraton Parsippany Hotel was classified as held-for-sale. Therefore, the results of this hotel are also excluded from comparable hotel operating statistics and results.

FOREIGN CURRENCY TRANSLATION

Operating results denominated in foreign currencies are translated using the prevailing exchange rates on the date of the transaction, or monthly based on the weighted average exchange rate for the period. Therefore, hotel statistics and results for non-U.S. properties include the effect of currency fluctuations, consistent with our financial statement presentation.

NON-GAAP FINANCIAL MEASURES

Included in this press release are certain “non-GAAP financial measures,” which are measures of our historical or future financial performance that are not calculated and presented in accordance with GAAP, within the meaning of applicable SEC rules. They are as follows: (i) FFO and FFO per diluted share (both NAREIT and Adjusted), (ii) EBITDA, both at the hotel level and company-wide, (iii) EBITDAre and Adjusted EBITDAre, and (iv) Comparable Hotel Operating Statistics and Results. The following discussion defines these measures and presents why we believe they are useful supplemental measures of our performance.

NAREIT FFO AND NAREIT FFO PER DILUTED SHARE

We present NAREIT FFO and NAREIT FFO per diluted share as non-GAAP measures of our performance in addition to our earnings per share (calculated in accordance with GAAP). We calculate NAREIT FFO per diluted share as our NAREIT FFO (defined as set forth below) for a given operating period, as adjusted for the effect of dilutive securities, divided by the number of fully diluted shares outstanding during such period, in accordance with NAREIT guidelines. As noted in NAREIT’s Funds From Operations White Paper – 2018 Restatement, NAREIT defines FFO as net income (calculated in accordance with GAAP) excluding depreciation and amortization related to certain real estate assets, gains and losses from the sale of certain real estate assets, gains and losses from change in control, impairment expense of certain real estate assets and investments and adjustments for consolidated partially owned entities and unconsolidated affiliates. Adjustments for consolidated partially owned entities and unconsolidated affiliates are calculated to reflect our pro rata share of the FFO of those entities on the same basis.

We believe that NAREIT FFO per diluted share is a useful supplemental measure of our operating performance and that the presentation of NAREIT FFO per diluted share, when combined with the primary GAAP presentation of diluted earnings per share, provides beneficial information to investors. By excluding the effect of real estate depreciation, amortization, impairment expense and gains and losses from sales of depreciable real estate, all of which are based on historical cost accounting and which may be of lesser significance in evaluating current performance, we believe that such measures can facilitate comparisons of operating performance between periods and with other REITs, even though NAREIT FFO per diluted share does not represent an amount that accrues directly to holders of our common stock. Historical cost accounting for real estate assets implicitly assumes that the value of real estate assets diminishes predictably over time. As noted by NAREIT in its Funds From Operations White Paper – 2018 Restatement, the primary purpose for including FFO as a supplemental measure of operating performance of a REIT is to address the artificial nature of historical cost depreciation and amortization of real estate and real estate-related assets mandated by GAAP. For these reasons, NAREIT adopted the FFO metric in order to promote a uniform industry-wide measure of REIT operating performance.

Adjusted FFO per Diluted Share

We also present Adjusted FFO per diluted share when evaluating our performance because management believes that the exclusion of certain additional items described below provides useful supplemental information to investors regarding our ongoing operating performance. Management historically has made the adjustments detailed below in evaluating our performance, in our annual budget process and for our compensation programs. We believe that the presentation of Adjusted FFO per diluted share, when combined with both the primary GAAP presentation of diluted earnings per share and FFO per diluted share as defined by NAREIT, provides useful supplemental information that is beneficial to an investor’s understanding of our operating performance. We adjust NAREIT FFO per diluted share for the following items, which may occur in any period, and refer to this measure as Adjusted FFO per diluted share:

Gains and Losses on the Extinguishment of Debt – We exclude the effect of finance charges and premiums associated with the extinguishment of debt, including the acceleration of the write-off of deferred financing costs from the original issuance of the debt being redeemed or retired and incremental interest expense incurred during the refinancing period. We also exclude the gains on debt repurchases and the original issuance costs associated with the retirement of preferred stock. We believe that these items are not reflective of our ongoing finance costs.Acquisition Costs – Under GAAP, costs associated with completed property acquisitions that are considered business combinations are expensed in the year incurred. We exclude the effect of these costs because we believe they are not reflective of the ongoing performance of the Company.Litigation Gains and Losses – We exclude the effect of gains or losses associated with litigation recorded under GAAP that we consider to be outside the ordinary course of business. We believe that including these items is not consistent with our ongoing operating performance.Severance Expense – In certain circumstances, we will add back hotel-level severance expenses when we do not believe that such expenses are reflective of the ongoing operation of our properties. Situations that would result in a severance add-back include, but are not limited to, (i) costs incurred as part of a broad-based reconfiguration of the operating model with the specific hotel operator for a portfolio of hotels and (ii) costs incurred at a specific hotel due to a broad-based and significant reconfiguration of a hotel and/or its workforce. We do not add back corporate-level severance costs or severance costs at an individual hotel that we consider to be incurred in the normal course of business.Non-Cash Stock-Based Compensation - We exclude the expense recorded for non-cash stock-based compensation, as it represents a non-cash transaction and the add back is consistent with the calculation of Adjusted EBITDA for our financial covenant ratios under our credit facility and senior notes indentures and consistent with the presentation of Adjusted FFO per diluted share for the majority of other lodging REIT filers. In unusual circumstances, we also may adjust NAREIT FFO for gains or losses that management believes are not representative of the Company’s current operating performance. For example, in 2017, as a result of the reduction of the U.S. federal corporate income tax rate from 35% to 21% by the Tax Cuts and Jobs Act, we remeasured our domestic deferred tax assets as of December 31, 2017 and recorded a one-time adjustment to reduce our deferred tax assets and to increase the provision for income taxes by approximately $11 million. We do not consider this adjustment to be reflective of our ongoing operating performance and, therefore, we excluded this item from Adjusted FFO.

EBITDA

Earnings before Interest Expense, Income Taxes, Depreciation and Amortization (“EBITDA”) is a commonly used measure of performance in many industries. Management believes EBITDA provides useful information to investors regarding our results of operations because it helps us and our investors evaluate the ongoing operating performance of our properties after removing the impact of the Company’s capital structure (primarily interest expense) and its asset base (primarily depreciation and amortization). Management also believes the use of EBITDA facilitates comparisons between us and other lodging REITs, hotel owners that are not REITs and other capital-intensive companies. Management uses EBITDA to evaluate property-level results and as one measure in determining the value of acquisitions and dispositions and, like FFO and Adjusted FFO per diluted share, it is widely used by management in the annual budget process and for our compensation programs.

EBITDAre and Adjusted EBITDAre

We present EBITDAre in accordance with NAREIT guidelines, as defined in its September 2017 white paper “Earnings Before Interest, Taxes, Depreciation and Amortization for Real Estate,” to provide an additional performance measure to facilitate the evaluation and comparison of the Company’s results with other REITs. NAREIT defines EBITDAre as net income (calculated in accordance with GAAP) excluding interest expense, income tax, depreciation and amortization, gains or losses on disposition of depreciated property (including gains or losses on change of control), impairment expense for depreciated property and of investments in unconsolidated affiliates caused by a decrease in value of depreciated property in the affiliate, and adjustments to reflect the entity’s pro rata share of EBITDAre of unconsolidated affiliates.

We make additional adjustments to EBITDAre when evaluating our performance because we believe that the exclusion of certain additional items described below provides useful supplemental information to investors regarding our ongoing operating performance. We believe that the presentation of Adjusted EBITDAre, when combined with the primary GAAP presentation of net income, is beneficial to an investor’s understanding of our operating performance. Adjusted EBITDAre also is similar to the measure used to calculate certain credit ratios for our credit facility and senior notes. We adjust EBITDAre for the following items, which may occur in any period, and refer to this measure as Adjusted EBITDAre:

Property Insurance Gains and Property Damage Losses – We exclude the effect of property insurance gains reflected in our condensed consolidated statements of operations because we believe that including them in Adjusted EBITDAre is not consistent with reflecting the ongoing performance of our assets. In addition, property insurance gains could be less important to investors given that the depreciated asset book value written off in connection with the calculation of the property insurance gain often does not reflect the market value of real estate assets. Similarly, losses from property damage or remediation costs that are not covered through insurance are excluded.Acquisition Costs – Under GAAP, costs associated with completed property acquisitions that are considered business combinations are expensed in the year incurred. We exclude the effect of these costs because we believe they are not reflective of the ongoing performance of the Company.Litigation Gains and Losses – We exclude the effect of gains or losses associated with litigation recorded under GAAP that we consider to be outside the ordinary course of business. We believe that including these items is not consistent with our ongoing operating performance.Severance Expense – In certain circumstances, we will add back hotel-level severance expenses when we do not believe that such expenses are reflective of the ongoing operation of our properties. Situations that would result in a severance add-back include, but are not limited to, (i) costs incurred as part of a broad-based reconfiguration of the operating model with the specific hotel operator for a portfolio of hotels and (ii) costs incurred at a specific hotel due to a broad-based and significant reconfiguration of a hotel and/or its workforce. We do not add back corporate-level severance costs or severance costs at an individual hotel that we consider to be incurred in the normal course of business.Non-Cash Stock-Based Compensation - We exclude the expense recorded for non-cash stock-based compensation, as it represents a non-cash transaction and the add back is consistent with the calculation of Adjusted EBITDA for our financial covenant ratios under our credit facility and senior notes indentures and consistent with the presentation of Adjusted EBITDAre for the majority of other lodging REIT filers. In unusual circumstances, we also may adjust EBITDAre for gains or losses that management believes are not representative of the Company’s current operating performance. The last adjustment of this nature was a 2013 exclusion of a gain from an eminent domain claim.

Limitations on the Use of NAREIT FFO per Diluted Share, Adjusted FFO per Diluted Share, EBITDA, EBITDAre and Adjusted EBITDAre

We calculate EBITDAre and NAREIT FFO per diluted share in accordance with standards established by NAREIT, which may not be comparable to measures calculated by other companies that do not use the NAREIT definition of EBITDAre and FFO or do not calculate FFO per diluted share in accordance with NAREIT guidance. In addition, although EBITDAre and FFO per diluted share are useful measures when comparing our results to other REITs, they may not be helpful to investors when comparing us to non-REITs. We also calculate Adjusted FFO per diluted share and Adjusted EBITDAre, which measures are not in accordance with NAREIT guidance and may not be comparable to measures calculated by other REITs or by other companies. This information should not be considered as an alternative to net income, operating profit, cash from operations or any other operating performance measure calculated in accordance with GAAP. Cash expenditures for various long-term assets (such as renewal and replacement capital expenditures), interest expense (for EBITDA, EBITDAre and Adjusted EBITDAre purposes only), severance expense related to significant property-level reconfiguration and other items have been, and will be, made and are not reflected in the EBITDA, EBITDAre, Adjusted EBITDAre, NAREIT FFO per diluted share and Adjusted FFO per diluted share presentations. Management compensates for these limitations by separately considering the impact of these excluded items to the extent they are material to operating decisions or assessments of our operating performance. Our consolidated statements of operations and consolidated statements of cash flows in the Company’s annual report on Form 10-K and quarterly reports on Form 10-Q include interest expense, capital expenditures, and other excluded items, all of which should be considered when evaluating our performance, as well as the usefulness of our non-GAAP financial measures. Additionally, NAREIT FFO per diluted share, Adjusted FFO per diluted share, EBITDA, EBITDAre and Adjusted EBITDAre should not be considered as measures of our liquidity or indicative of funds available to fund our cash needs, including our ability to make cash distributions. In addition, NAREIT FFO per diluted share and Adjusted FFO per diluted share do not measure, and should not be used as measures of, amounts that accrue directly to stockholders’ benefit.

Similarly, EBITDAre, Adjusted EBITDAre, NAREIT FFO and Adjusted FFO per diluted share include adjustments for the pro rata share of our equity investments, and NAREIT FFO and Adjusted FFO per diluted share include adjustments for the pro rata share of non-controlling partners in consolidated partnerships. Our equity investments consist of interests ranging from 11% to 67% in seven domestic partnerships that own a total of 105 properties and a vacation ownership development. Due to the voting rights of the outside owners, we do not control and, therefore, do not consolidate these entities. The non-controlling partners in consolidated partnerships primarily consist of the approximate 1% interest in Host LP held by unaffiliated limited partners and a 15% interest held by an unaffiliated limited partner in a partnership owning one hotel for which we do control the entity and, therefore, consolidate its operations. These pro rata results for NAREIT FFO and Adjusted FFO per diluted share, EBITDAre and Adjusted EBITDAre were calculated as set forth in the definitions above. Readers should be cautioned that the pro rata results presented in these measures for consolidated partnerships (for NAREIT FFO and Adjusted FFO per diluted share) and equity investments may not accurately depict the legal and economic implications of our investments in these entities.

Comparable Hotel Property Level Operating Results

We present certain operating results for our hotels, such as hotel revenues, expenses, food and beverage profit, and EBITDA (and the related margins), on a comparable hotel, or "same store," basis as supplemental information for our investors. Our comparable hotel results present operating results for our hotels without giving effect to dispositions or properties that experienced closures due to renovations or property damage, as discussed in “Comparable Hotel Operating Statistics and Results” above. We present comparable hotel EBITDA to help us and our investors evaluate the ongoing operating performance of our comparable hotels after removing the impact of the Company’s capital structure (primarily interest expense) and its asset base (primarily depreciation and amortization expense). Corporate-level costs and expenses also are removed to arrive at property-level results. We believe these property-level results provide investors with supplemental information about the ongoing operating performance of our comparable hotels. Comparable hotel results are presented both by location and for the Company’s properties in the aggregate. We eliminate from our comparable hotel level operating results severance costs related to broad-based and significant property-level reconfiguration that is not considered to be within the normal course of business, as we believe this elimination provides useful supplemental information that is beneficial to an investor’s understanding of our ongoing operating performance. We also eliminate depreciation and amortization expense because, even though depreciation and amortization expense are property-level expenses, these non-cash expenses, which are based on historical cost accounting for real estate assets, implicitly assume that the value of real estate assets diminishes predictably over time. As noted earlier, because real estate values historically have risen or fallen with market conditions, many real estate industry investors have considered presentation of historical cost accounting for operating results to be insufficient.

Because of the elimination of corporate-level costs and expenses, gains or losses on disposition, certain severance expenses and depreciation and amortization expense, the comparable hotel operating results we present do not represent our total revenues, expenses, operating profit or net income and should not be used to evaluate our performance as a whole. Management compensates for these limitations by separately considering the impact of these excluded items to the extent they are material to operating decisions or assessments of our operating performance. Our condensed consolidated statements of operations include such amounts, all of which should be considered by investors when evaluating our performance.

We present these hotel operating results on a comparable hotel basis because we believe that doing so provides investors and management with useful information for evaluating the period-to-period performance of our hotels and facilitates comparisons with other hotel REITs and hotel owners. In particular, these measures assist management and investors in distinguishing whether increases or decreases in revenues and/or expenses are due to growth or decline of operations at comparable hotels (which represent the vast majority of our portfolio) or from other factors. While management believes that presentation of comparable hotel results is a supplemental measure that provides useful information in evaluating our ongoing performance, this measure is not used to allocate resources or to assess the operating performance of each of our hotels, as these decisions are based on data for individual hotels and are not based on comparable hotel results in the aggregate. For these reasons, we believe comparable hotel operating results, when combined with the presentation of GAAP operating profit, revenues and expenses, provide useful information to investors and management.

SOURAV GHOSH
Chief Financial Officer
(240) 744-5267JAIME MARCUS
Investor Relations
(240) 744-5117
[email protected]   A PDF accompanying this announcement is available at http://ml.globenewswire.com/Resource/Download/48bde166-0a75-42e4-887b-5b2f72e88c34

Host Hotels (HST - Free Report) came out with quarterly funds from operations (FFO) of $0.67 per share, beating the Zacks Consensus Estimate of $0.63 per share. This compares to FFO of $0.64 per share a year ago. These figures are adjusted for non-recurring items.

This quarterly report represents an FFO surprise of +7.01%. A quarter ago, it was expected that this lodging real estate investment trust would post FFO of $0.47 per share when it actually produced FFO of $0.51, delivering a surprise of +8.51%.

Over the last four quarters, the company has surpassed consensus FFO estimates four times.

Host Hotels, which belongs to the Zacks REIT and Equity Trust - Other industry, posted revenues of $1.65 billion for the quarter ended March 2026, surpassing the Zacks Consensus Estimate by 0.86%. This compares to year-ago revenues of $1.59 billion. The company has topped consensus revenue estimates four times over the last four quarters.

The sustainability of the stock's immediate price movement based on the recently-released numbers and future FFO expectations will mostly depend on management's commentary on the earnings call.

Host Hotels shares have added about 20.2% since the beginning of the year versus the S&P 500's gain of 6%.

What's Next for Host Hotels?While Host Hotels has outperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock?

There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's FFO outlook. Not only does this include current consensus FFO expectations for the coming quarter(s), but also how these expectations have changed lately.

Empirical research shows a strong correlation between near-term stock movements and trends in estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of estimate revisions.

Ahead of this earnings release, the estimate revisions trend for Host Hotels was mixed. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #3 (Hold) for the stock. So, the shares are expected to perform in line with the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.

It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus FFO estimate is $0.61 on $1.64 billion in revenues for the coming quarter and $2.09 on $6.14 billion in revenues for the current fiscal year.

Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, REIT and Equity Trust - Other is currently in the top 24% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.

Another stock from the same industry, Chatham Lodging (CLDT - Free Report) , has yet to report results for the quarter ended March 2026. The results are expected to be released on May 7.

This real estate investment trust is expected to post quarterly earnings of $0.16 per share in its upcoming report, which represents a year-over-year change of +14.3%. The consensus EPS estimate for the quarter has remained unchanged over the last 30 days.

Chatham Lodging's revenues are expected to be $65.17 million, down 5.1% from the year-ago quarter.

Host Hotels & Resorts, Inc. (HST) Q1 2026 Earnings Call Transcript

Host Hotels & Resorts reported a strong start to 2026, beating Q1 earnings estimates and raising its full-year guidance for adjusted funds from operations. HST maintains a solid financial position with high liquidity and zero debt maturities in 2026 following successful asset sales. Geopolitical risks and administrative backlogs from the recent record-breaking partial government shutdown could pressure the travel industry despite the expected boost from the World Cup.

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How Style Scores Work with the Zacks Rank The Zacks Rank is a proprietary stock-rating model that harnesses the power of earnings estimate revisions, or changes to a company's earnings expectations, to help investors build a successful portfolio.

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As mentioned above, the Scores are designed to work with the Zacks Rank, so any change to a company's earnings outlook should be a deciding factor when picking which stocks to buy.

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Stock to Watch: Host Hotels (HST - Free Report) Bethesda, MD-based Host Hotels & Resorts Inc., one of the leading lodging real estate investment trusts (REITs), engages in the ownership, acquisition, and redevelopment of luxury and upper-upscale hotels in the United States and abroad. It is an S&P 500 Index company.

HST is a #3 (Hold) on the Zacks Rank, with a VGM Score of B.

It also boasts a Value Style Score of B thanks to attractive valuation metrics like a forward P/E ratio of 10.35; value investors should take notice.

Five analysts revised their earnings estimate upwards in the last 60 days for fiscal 2026. The Zacks Consensus Estimate has increased $0.05 to $2.10 per share. HST boasts an average earnings surprise of +8.7%.

With a solid Zacks Rank and top-tier Value and VGM Style Scores, HST should be on investors' short list.

Host Hotels & Resorts, Inc. (HST) Shareholder/Analyst Call Prepared Remarks Transcript

For new and old investors, taking full advantage of the stock market and investing with confidence are common goals. Zacks Premium provides lots of different ways to do both.

The popular research service can help you become a smarter, more self-assured investor, giving you access to daily updates of the Zacks Rank and Zacks Industry Rank, the Zacks #1 Rank List, Equity Research reports, and Premium stock screens.

Zacks Premium also includes the Zacks Style Scores.

What are the Zacks Style Scores? The Zacks Style Scores is a unique set of guidelines that rates stocks based on three popular investing types, and were developed as complementary indicators for the Zacks Rank. This combination helps investors choose securities with the highest chances of beating the market over the next 30 days.

Based on their value, growth, and momentum characteristics, each stock is assigned a rating of A, B, C, D, or F. The better the score, the better chance the stock will outperform; an A is better than a B, a B is better than a C, and so on.

The Style Scores are broken down into four categories:

Value ScoreFor value investors, it's all about finding good stocks at good prices, and discovering which companies are trading under their true value before the broader market catches on. The Value Style Score utilizes ratios like P/E, PEG, Price/Sales, Price/Cash Flow, and a host of other multiples to help pick out the most attractive and discounted stocks.

Growth ScoreGrowth investors, on the other hand, are more concerned with a company's financial strength and health, and its future outlook. The Growth Style Score examines things like projected and historic earnings, sales, and cash flow to find stocks that will experience sustainable growth over time.

Momentum ScoreMomentum trading is all about taking advantage of upward or downward trends in a stock's price or earnings outlook, and these investors live by the saying "the trend is your friend." The Momentum Style Score can pinpoint good times to build a position in a stock, using factors like one-week price change and the monthly percentage change in earnings estimates.

VGM ScoreIf you like to use all three kinds of investing, then the VGM Score is for you. It's a combination of all Style Scores, and is an important indicator to use with the Zacks Rank. The VGM Score rates each stock on their shared weighted styles, narrowing down the companies with the most attractive value, best growth forecast, and most promising momentum.

How Style Scores Work with the Zacks Rank The Zacks Rank, which is a proprietary stock-rating model, employs earnings estimate revisions, or changes to a company's earnings expectations, to make building a winning portfolio easier.

#1 (Strong Buy) stocks have produced an unmatched +23.7% average annual return since 1988, which is more than double the S&P 500's performance over the same time frame. However, the Zacks Rank examines a ton of stocks, and there can be more than 200 companies with a Strong Buy rank, and another 600 with a #2 (Buy) rank, on any given day.

With more than 800 top-rated stocks to choose from, it can certainly feel overwhelming to pick the ones that are right for you and your investing journey.

That's where the Style Scores come in.

You want to make sure you're buying stocks with the highest likelihood of success, and to do that, you'll need to pick stocks with a Zacks Rank #1 or #2 that also have Style Scores of A or B. If you like a stock that only has a #3 (Hold) rank, it should also have Scores of A or B to guarantee as much upside potential as possible.

Since the Scores were created to work together with the Zacks Rank, the direction of a stock's earnings estimate revisions should be a key factor when choosing which stocks to buy.

A stock with a #4 (Sell) or #5 (Strong Sell) rating, for instance, even one with Scores of A and B, will still have a declining earnings forecast, and a greater chance its share price will fall too.

Thus, the more stocks you own with a #1 or #2 Rank and Scores of A or B, the better.

Stock to Watch: Host Hotels (HST - Free Report) Bethesda, MD-based Host Hotels & Resorts Inc., one of the leading lodging real estate investment trusts (REITs), engages in the ownership, acquisition, and redevelopment of luxury and upper-upscale hotels in the United States and abroad. It is an S&P 500 Index company.

HST is a #3 (Hold) on the Zacks Rank, with a VGM Score of B.

Momentum investors should take note of this Finance stock. HST has a Momentum Style Score of B, and shares are up 7.1% over the past four weeks.

Four analysts revised their earnings estimate upwards in the last 60 days for fiscal 2026. The Zacks Consensus Estimate has increased $0.04 to $2.10 per share. HST boasts an average earnings surprise of +8.7%.

With a solid Zacks Rank and top-tier Momentum and VGM Style Scores, HST should be on investors' short list.

For new and old investors, taking full advantage of the stock market and investing with confidence are common goals. Zacks Premium provides lots of different ways to do both.

The research service features daily updates of the Zacks Rank and Zacks Industry Rank, full access to the Zacks #1 Rank List, Equity Research reports, and Premium stock screens, all of which will help you become a smarter, more confident investor.

Zacks Premium includes access to the Zacks Style Scores as well.

What are the Zacks Style Scores? The Zacks Style Scores is a unique set of guidelines that rates stocks based on three popular investing types, and were developed as complementary indicators for the Zacks Rank. This combination helps investors choose securities with the highest chances of beating the market over the next 30 days.

Each stock is assigned a rating of A, B, C, D, or F based on their value, growth, and momentum characteristics. Just like in school, an A is better than a B, a B is better than a C, and so on -- that means the better the score, the better chance the stock will outperform.

The Style Scores are broken down into four categories:

Value ScoreFinding good stocks at good prices, and discovering which companies are trading under their true value, are what value investors like to focus on. So, the Value Style Score takes into account ratios like P/E, PEG, Price/Sales, Price/Cash Flow, and a host of other multiples to highlight the most attractive and discounted stocks.

Growth ScoreGrowth investors are more concerned with a stock's future prospects, and the overall financial health and strength of a company. Thus, the Growth Style Score analyzes characteristics like projected and historic earnings, sales, and cash flow to find stocks that will see sustainable growth over time.

Momentum ScoreMomentum traders and investors live by the saying "the trend is your friend." This investing style is all about taking advantage of upward or downward trends in a stock's price or earnings outlook. Employing factors like one-week price change and the monthly percentage change in earnings estimates, the Momentum Style Score can indicate favorable times to build a position in high-momentum stocks.

VGM ScoreWhat if you like to use all three types of investing? The VGM Score is a combination of all Style Scores, making it one of the most comprehensive indicators to use with the Zacks Rank. It rates each stock on their combined weighted styles, which helps narrow down the companies with the most attractive value, best growth forecast, and most promising momentum.

How Style Scores Work with the Zacks Rank The Zacks Rank is a proprietary stock-rating model that harnesses the power of earnings estimate revisions, or changes to a company's earnings expectations, to help investors build a successful portfolio.

Investors can count on the Zacks Rank's success, with #1 (Strong Buy) stocks producing an unmatched +23.7% average annual return since 1988, more than double the S&P 500's performance. But the model rates a large number of stocks, and there are over 200 companies with a Strong Buy rank, plus another 600 with a #2 (Buy) rank, on any given day.

With more than 800 top-rated stocks to choose from, it can certainly feel overwhelming to pick the ones that are right for you and your investing journey.

That's where the Style Scores come in.

You want to make sure you're buying stocks with the highest likelihood of success, and to do that, you'll need to pick stocks with a Zacks Rank #1 or #2 that also have Style Scores of A or B. If you like a stock that only has a #3 (Hold) rank, it should also have Scores of A or B to guarantee as much upside potential as possible.

Since the Scores were created to work together with the Zacks Rank, the direction of a stock's earnings estimate revisions should be a key factor when choosing which stocks to buy.

A stock with a #4 (Sell) or #5 (Strong Sell) rating, for instance, even one with Scores of A and B, will still have a declining earnings forecast, and a greater chance its share price will fall too.

Thus, the more stocks you own with a #1 or #2 Rank and Scores of A or B, the better.

Stock to Watch: Host Hotels (HST - Free Report) Bethesda, MD-based Host Hotels & Resorts Inc., one of the leading lodging real estate investment trusts (REITs), engages in the ownership, acquisition, and redevelopment of luxury and upper-upscale hotels in the United States and abroad. It is an S&P 500 Index company.

HST is a #3 (Hold) on the Zacks Rank, with a VGM Score of B.

It also boasts a Value Style Score of B thanks to attractive valuation metrics like a forward P/E ratio of 11.54; value investors should take notice.

Four analysts revised their earnings estimate higher in the last 60 days for fiscal 2026, while the Zacks Consensus Estimate has increased $0.03 to $2.12 per share. HST also boasts an average earnings surprise of +8.7%.

With a solid Zacks Rank and top-tier Value and VGM Style Scores, HST should be on investors' short list.