Business
Host Hotels & Resorts, Inc. Reports Results for 2021
Fourth Quarter Represented Highest RevPAR of 2021;Successful Execution of Capital Allocation Strategy – Since the Start of 2021, Acquired $1.6 Billion
About this update from Host Hotels & Resorts, Inc.
[{"type":"text","content":"Fourth Quarter Represented Highest RevPAR of 2021;Successful Execution of Capital Allocation Strategy – Since the Start of 2021, Acquired $1.6 Billion andDisposed of $1 BillionAnnounces Reinstatement of Quarterly Dividend BETHESDA, Md., Feb. 16, 2022 (GLOBE NEWSWIRE) -- Host Hotels & Resorts, Inc. (NASDAQ: HST) (the “Company”), the nation’s largest lodging real estate investment trust (“REIT”), today announced results for fourth quarter and full year 2021. Operating Results (unaudited, in millions, except per share and hotel statistics) Quarter ended December 31, Percent Change Percent Change Year ended December 31, Percent Change Percent Change 2021 2020 vs. Q4 2020 vs. Q4 2019⁽²⁾ 2021 2020 vs.2020 vs.2019⁽²⁾ Revenues $998 $267 273.8% (25.2)% $2,890 $1,620 78.4% (47.2)%All owned hotel revenues (pro forma)⁽¹⁾ 1,000 293 241.3% (25.0)% 2,933 1,678 74.8% (44.6)%All owned hotel (pro forma) Total RevPAR 237.98 70.31 238.5% (25.7)% 176.59 101.12 74.6% (44.9)%All owned hotel (pro forma) RevPAR 148.46 42.52 249.2% (24.2)% 113.40 60.44 87.6% (43.2)% Net income (loss) $323 $(66) N/M $(11) $(741) 98.5% EBITDAre⁽¹⁾ 247 (53) N/M 542 (233) N/M Adjusted EBITDAre⁽¹⁾ 242 (32) N/M 532 (168) N/M Diluted earnings (loss) per common share .45 .(09) N/M .(02) (1.04) 98.1% NAREIT FFO per diluted share⁽¹⁾ .26 .(07) N/M .60 .(31) N/M Adjusted FFO per diluted share⁽¹⁾ .29 .(02) N/M .61 .(17) N/M * Additional detail on the Company’s results, including data for 22 domestic markets and top 40 hotels by Total RevPAR, is available in the Fourth Quarter 2021 Supplemental Financial Information available on the Company’s website at www.hosthotels.com. James F. Risoleo, President and Chief Executive Officer, said, “We finished 2021 on a high note as we continued to see strong sequential operating improvements across our portfolio. During the fourth quarter, RevPAR was approximately $148, representing a 13% increase over the prior quarter. While the newest variant created additional uncertainty for the lodging industry, it did not dampen the recovery, which continues to be concentrated in Sunbelt markets, particularly at our resorts. Our urban markets also saw strong sequential improvements, driven by business transient customers, where room nights improved over last quarter relative to 2019.” __________________________________(1) NAREIT Funds From Operations (“FFO...