earnings
confidence high
sentiment positive
materiality 0.80
Host Hotels Q1 net income $272M (-6.5%), RevPAR -1.2%, acquires Nashville hotels for $530M, raises EBITDA guidance
HOST HOTELS & RESORTS, INC.
2024-Q1 EPS reported
$0.38
revenue$1,471,000,000
- Q1 2024 revenues $1,471M (+6.5% YoY); net income $272M (-6.5%); diluted EPS $0.38 vs $0.40.
- Comparable hotel RevPAR $215.37 (-1.2% YoY) impacted by Maui wildfires (170bps), weather and renovation delays.
- Acquired 1 Hotel Nashville (215 rooms) and Embassy Suites Nashville (506 rooms) for $530M on April 15.
- 2024 guidance: net income $719-775M, Adjusted EBITDAre $1,640-1,700M (midpoint +$35M vs prior).
- Ended Q1 with $1.7B liquidity; repaid $400M senior notes; quarterly dividend $0.20/share paid April 15.