Business
Host Hotels & Resorts, Inc. Reports Results for 2022; RevPAR Exceeds 2019 for Third Consecutive Quarter; Full Year Performance Finishes at High End of Q3 Guidance
BETHESDA, Md., Feb. 15, 2023 (GLOBE NEWSWIRE) -- Host Hotels & Resorts, Inc. (NASDAQ: HST) (the “Company”), the nation’s largest lodging real estate
About this update from Host Hotels & Resorts, Inc.
[{"type":"text","content":"BETHESDA, Md., Feb. 15, 2023 (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 2022. OPERATING RESULTS(unaudited, in millions, except per share and hotel statistics) Quarter endedDecember 31, PercentChange PercentChange Year endedDecember 31, PercentChange PercentChange 2022 2021 vs. Q42021 vs. Q42019⁽²⁾ 2022 2021 vs. 2021 vs.2019⁽²⁾ Revenues $1,263 $998 26.6% (5.3)% $4,907 $2,890 69.8% (10.3)%All Owned Hotel revenues⁽¹⁾ 1,267 967 31.0% 1.1% 4,944 2,912 69.8% (1.7)%All Owned Hotel Total RevPAR⁽¹⁾ 325.88 249.28 30.7% 0.1% 320.39 189.70 68.9% (2.7)%All Owned Hotel RevPAR⁽¹⁾ 196.82 152.91 28.7% 0.6% 196.33 120.33 63.2% (2.8)% Net income (loss) $149 $323 (53.9)% $643 $(11) N/M EBITDAre⁽¹⁾ 364 247 47.4% 1,504 542 177.5% Adjusted EBITDAre⁽¹⁾ 364 242 50.4% 1,498 532 181.6% Diluted earnings (loss) per common share 0.20 0.45 (55.6)% 0.88 (0.02) N/M NAREIT FFO per diluted share⁽¹⁾ 0.44 0.26 69.2% 1.79 0.60 198.3% Adjusted FFO per diluted share⁽¹⁾ 0.44 0.29 51.7% 1.79 0.61 193.4% * 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 2022 Supplemental Financial Information on the Company’s website at www.hosthotels.com.(1) NAREIT Funds From Operations (“FFO”) per diluted share, Adjusted FFO per diluted share, EBITDAre, Adjusted EBITDAre and All Owned 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, All Owned Hotel results and statistics include adjustments for dispositions and acquisitions. See Hotel Operating Data for RevPAR results of the portfolio based on the Company's ownership period, without these adjustments.(2) Presentation includes comparisons to 2019 operating results in order to allow investors to better understand the trajectory and timing of recovery from the COVID-19 impacts on hotel operations.N/M = Not Mea...