Host Hotels & Resorts, Inc. Reports Results for the Third Quarter of 2026
HOST HOTELS & RESORTS, INC. (HST) filed an SEC Form 8-K — Results of Operations and Financial Condition. Exhibit 99.1 SOURAV GHOSH Chief Financial Officer (240) 744-5267 JAIME MARCUS Investor Relations (240) 744-5117 ir@hosthotels.com Host Hotels & Resorts, Inc. Reports Results for the Third Quarter of 2026 Delivered Comparable Hotel RevPAR Growth of 8.8% and Comparable Hotel Total
How this was made
The 30-second read
Why it matters
The raised RevPAR guidance and recent acquisitions signal continued growth, likely prompting buying interest.
Market read
The earnings beat and upgraded guidance provide a fresh catalyst for HST, making the stock a near‑term buying candidate.
What to watch
Potential headwinds from rising labor costs and hurricane exposure could temper upside.
Delivered Comparable Hotel RevPAR Growth of 8.8% and Comparable Hotel Total RevPAR Growth of 7.3%; raised full year 2026 growth guidance for comparable hotel RevPAR to 6.75% and Total RevPAR to 6.0%.
Comparable hotel RevPAR and Total RevPAR grew 8.8% and 7.3%, respectively, comparable hotel EBITDA increased 11.4%, margins expanded, and the Company raised full-year operating guidance. GAAP net income declined because of a lower gain on asset sales.
Key metrics
shortened, hover for the filing’s print| Metric | Value | q/q | y/y |
|---|---|---|---|
| Q3 2026 total revenuesGAAP | $1.35B | – | 1.2% |
| Q3 2026 rooms revenuesGAAP | $841M | – | – |
| Q3 2026 food and beverage revenuesGAAP | $367M | – | – |
| Q3 2026 other revenuesGAAP | $132M | – | – |
| Q3 2026 condominium salesGAAP | $7M | – | – |
| Q3 2026 comparable hotel revenuesnon-GAAP | $1.31B | – | 7.4% |
| Q3 2026 comparable hotel Total RevPARnon-GAAP | $348.19 | – | 7.3% |
| Q3 2026 comparable hotel RevPARnon-GAAP | $219.50 | – | 8.8% |
| Q3 2026 operating profitGAAP | $121M | – | – |
| Q3 2026 operating profit marginGAAP | 9.0% | – | 140 basis points |
| Q3 2026 net incomeGAAP | $71M | – | (56.4%) |
| Q3 2026 diluted earnings per common shareGAAP | $0.10 | – | (56.5%) |
| Q3 2026 EBITDArenon-GAAP | $340M | – | 8.3% |
| Q3 2026 Adjusted EBITDArenon-GAAP | $347M | – | 8.8% |
| Q3 2026 comparable hotel EBITDAnon-GAAP | $331M | – | 11.4% |
| Q3 2026 comparable hotel EBITDA marginnon-GAAP | 25.2% | – | 90 basis points |
| Q3 2026 NAREIT FFO per diluted sharenon-GAAP | $0.38 | – | 11.8% |
| Q3 2026 Adjusted FFO per diluted sharenon-GAAP | $0.39 | – | 11.4% |
| Year-to-date 2026 total revenuesGAAP | $4.63B | – | 2.7% |
| Year-to-date 2026 comparable hotel revenuesnon-GAAP | $4.39B | – | 5.9% |
| Year-to-date 2026 comparable hotel Total RevPARnon-GAAP | $392.74 | – | 5.8% |
| Year-to-date 2026 comparable hotel RevPARnon-GAAP | $237.21 | – | 6.6% |
| Year-to-date 2026 operating profitGAAP | $733M | – | – |
| Year-to-date 2026 operating profit marginGAAP | 15.8% | – | 110 basis points |
| Year-to-date 2026 net incomeGAAP | $813M | – | 27.2% |
| Year-to-date 2026 diluted earnings per common shareGAAP | $1.16 | – | 27.5% |
| Year-to-date 2026 EBITDArenon-GAAP | $1.40B | – | 6.3% |
| Year-to-date 2026 Adjusted EBITDArenon-GAAP | $1.42B | – | 6.5% |
| Year-to-date 2026 comparable hotel EBITDAnon-GAAP | $1.33B | – | 8.2% |
| Year-to-date 2026 comparable hotel EBITDA marginnon-GAAP | 30.2% | – | 70 basis points |
| Year-to-date 2026 NAREIT FFO per diluted sharenon-GAAP | $1.66 | – | 7.8% |
| Year-to-date 2026 Adjusted FFO per diluted sharenon-GAAP | $1.69 | – | 8.3% |
| Q3 2026 transient room nightsother | 1.57M | – | 4.8% |
| Q3 2026 group room nightsother | 924K | – | 1.3% |
| Q3 2026 contract room nightsother | 214K | – | (2.3%) |
| Q3 2026 transient rooms revenuesother | $528M | – | 11.5% |
| Q3 2026 group rooms revenuesother | $251M | – | 4.5% |
| Q3 2026 contract rooms revenuesother | $48M | – | 4.6% |
Full Year 2026 outlook
- Revenue$6,213 million
- NoteComparable hotel Total RevPAR of $392, 6.0% change vs. 2025
- NoteComparable hotel RevPAR of $237, 6.75% change vs. 2025
- NoteOperating profit margin under GAAP of 15.4%, 140 bps change vs. 2025
- NoteComparable hotel EBITDA margin of 30.0%, 80 bps change vs. 2025
- NoteNet income of $978 million
- NoteAdjusted EBITDAre of $1,865 million
- NoteDiluted earnings per common share of $1.40
- NoteNAREIT FFO per diluted share of $2.17
- NoteAdjusted FFO per diluted share of $2.21
- NoteCapital expenditures of approximately $550 million to $600 million
Capital returns
- The Company paid a third quarter common stock cash dividend of $0.20 per share on October 15, 2026 to stockholders of record on September 30, 2026.
- Third quarter dividend paid on common stock: $137 million.
What drove it
- Comparable hotel RevPAR reflected rate increases of 5.7% and an increase in occupancy of 2.1 points.
- Management cited broad-based strength in leisure transient, group and business transient demand.
- Comparable hotel Total RevPAR growth reflected higher food and beverage revenues and leisure transient demand.
- Eleven of the Company's 24 domestic markets achieved double-digit increases in comparable hotel Total RevPAR.
- Comparable hotel EBITDA margin improved due to average room rate increases that offset wage expense increases.
- The Company expects strong leisure demand, favorable group booking pace and improving business transient demand to support the fourth quarter.
Concerns
- GAAP net income declined 56.4% in the third quarter, reflecting a decline in gain on asset sales.
- Phoenix comparable hotel RevPAR declined 32.0% and comparable hotel Total RevPAR declined 31.9%.
- The active hurricane season in Hawaii affected the quarter.
- Alila Ventana Big Sur was removed from the comparable hotel set after closing for one month during an evacuation mandate due to wildfires.
- The Company is still evaluating complete property and business interruption impacts of the Kona Low rainstorm, with total property costs currently estimated at approximately $20 million to $25 million.
- The forecast assumes a continued recovery at Maui properties from the 2023 wildfires, while the timing of Maui's full recovery remains uncertain.
What to watch
- Comparable hotel RevPAR for October grew approximately 6.5% over 2025.
- The contribution from the 1 Hotel Brooklyn Bridge and Renaissance Dallas at Plano Legacy West Hotel, which are expected to contribute $3 million of net income and $6 million of EBITDA in 2026.
- The expected approximately $18 million net contribution from condominium sales in 2026, with remaining sales expected to shift into 2027.
- Final determination on insurance claims related to Hurricanes Helene and Milton, expected by the end of the year.
- Delivery of full-year comparable hotel RevPAR growth of 6.75% and Total RevPAR growth of 6.0%.
- Capital expenditures of approximately $550 million to $600 million and the planned 2027 restoration efforts related to the Kona Low rainstorm.
Balance sheet and cash flow
- Cash and cash equivalents at September 30, 2026: $1,492 million.
- Total assets at September 30, 2026: $12,753 million.
- Total debt at September 30, 2026: $5,084 million.
- Total available liquidity: approximately $3.1 billion, including furniture, fixtures and equipment escrow reserves of $157 million and $1.5 billion available under the revolver portion of the credit facility.
- Debt had a weighted average maturity of 4.4 years and a weighted average interest rate of 4.8% at September 30, 2026.
- Cash and cash equivalents adjusted for subsequent transactions: $991 million.
- Year-to-date 2026 total capital expenditures: $392 million.
- Full-year 2026 total capital expenditures forecast: $550 million to $600 million.
- Subsequent to quarter end, the Company acquired the 1 Hotel Brooklyn Bridge for a total purchase price of $202 million and the Renaissance Dallas at Plano Legacy West Hotel for a total purchase price of $172 million.
- The amended $2.5 billion credit facility extends the $1.5 billion revolver to January 2031 and the two $500 million term loans to January 2031 and January 2032, respectively.
Analysis
Host produced strong underlying hotel operating results in the third quarter. Comparable hotel RevPAR increased 8.8% to $219.50 and comparable hotel Total RevPAR increased 7.3% to $348.19. The growth reflected rate increases of 5.7%, an increase in occupancy of 2.1 points, higher food and beverage spend, and broad demand across leisure transient, group and business transient customers. Comparable hotel revenues increased 7.4% to $1,312 million, ahead of the 1.2% increase in reported GAAP revenue to $1,347 million.
Profitability improved at the property level. Comparable hotel EBITDA increased 11.4% to $331 million, while comparable hotel EBITDA margin increased 90 basis points to 25.2%. GAAP operating profit increased to $121 million from $101 million and the GAAP operating profit margin increased to 9.0% from 7.6%. Rate improvement offset higher wage expense. Adjusted EBITDAre rose 8.8% to $347 million, and NAREIT FFO and Adjusted FFO per diluted share rose to $0.38 and $0.39, respectively.
GAAP net income moved in the opposite direction, declining to $71 million from $163 million, because of a decline in gain on asset sales. This distinction is central to the quarter: operational measures and property-level profitability improved, while reported earnings were affected by transaction-related gains. Market performance was broad, with 11 of 24 domestic markets achieving double-digit comparable hotel Total RevPAR growth, although Phoenix reported declines and management noted hurricane impacts in Hawaii.
Capital allocation included acquisitions of the 195-room 1 Hotel Brooklyn Bridge for $202 million and the 308-room Renaissance Dallas at Plano Legacy West Hotel for $172 million. The Company also amended and restated its $2.5 billion credit facility, extending maturities and reducing pricing. At September 30, 2026, it reported $1,492 million of cash and cash equivalents, $5,084 million of total debt and approximately $3.1 billion of available liquidity. It paid a $0.20 per-share common dividend during the quarter.
The full-year outlook was raised following the third-quarter result and an approximately 6.5% October comparable hotel RevPAR increase. Management now guides to comparable hotel RevPAR growth of 6.75%, comparable hotel Total RevPAR growth of 6.0%, GAAP revenue of $6,213 million, net income of $978 million and Adjusted EBITDAre of $1,865 million. The guide incorporates expected contributions from the October acquisitions and condominium sales, while excluding any additional hurricane-related business interruption proceeds beyond amounts already received.
Management, verbatim
We delivered a strong third quarter, driven by the quality of our portfolio, disciplined capital allocation and continued reinvestment in our assets. Comparable hotel RevPAR increased 8.8%, supported by rate growth and broad-based strength in leisure transient, group, and business transient demand.
James F. Risoleo, President and Chief Executive Officer
We now expect full year comparable hotel RevPAR growth of approximately 6.75% and comparable hotel Total RevPAR growth of approximately 6.0% over 2025, both of which are above the high end of our previously announced guidance ranges.
James F. Risoleo, President and Chief Executive Officer
Subsequent to quarter end, we further strengthened our balance sheet by recasting our $2.5 billion credit facility, extending maturities through 2031 and 2032 and improving pricing.
Sourav Ghosh, Executive Vice President and Chief Financial Officer
Not in the filing
stated, not guessed- Previous outlook document for formal actual-versus-prior-guidance comparisons
- Operating cash flow
- Free cash flow
- Gross margin
- Gross-margin guidance
- Income tax rate
- Share repurchases
- Q3 2026 prior-quarter metrics
- Q3 2026 cash flow statement
Written by an AI language model from the company’s SEC earnings filing (Form 8-K Item 2.02, or Form 6-K for a foreign private issuer). Every figure was checked against the filing text, and a metric whose value, prior period and change do not add up is dropped from the metrics. The model can still misread a table, in the metrics or in the text, so check a number in the filing before you rely on it. Consensus estimates, price targets and share-price reactions are not shown because they are not in the filing. AI-generated research, not investment advice.
Background
Host Hotels & Resorts is the largest lodging REIT in the U.S., regularly monitored by income‑focused investors.
Ticker impact
Host Hotels & Resorts reported Q3 2026 results and raised full‑year RevPAR guidance to 6.75% and total RevPAR to 6.0%, a material update for the REIT.
upward pressure as investors price in higher RevPAR growth
The company posted double‑digit RevPAR growth and announced acquisitions, while also improving its credit facility, which together reinforce a bullish outlook.
Market effects
Strong RevPAR growth may lift other hotel REITs and hospitality stocks.
Positive for U.S. lodging sector and related consumer discretionary exposure.
Reinforces confidence in global travel demand post‑hurricane season.
Counterpoint
If the raised guidance is already priced in, the stock could face a short‑term pullback.
Key entities
- ExecutiveJames F. Risoleo
President and CEO who provided the guidance commentary.
