Host Hotels & Resorts, Inc. · NASDAQ:HST
Host Hotels & Resorts — Q1 2025 Earnings Presentation
68 slides from Host Hotels & Resorts's earnings presentation, May 1, 2025
Slide 1: Investor Presentation
Investor Presentation MAY 2025 THE DON CESAR
Slide 2: Forward-Looking Statements
Forward-Looking Statements This investor presentation, and the related discussion, contains forward-looking statements. These include statements about Host Hotels & Resorts’ plans, strategies, financial performance, prospects or future events. Forward-looking statements are not guarantees of future
Slide 3: Table of Contents
COMPANY RECENT PORTFOLIO GROWTH CORPORATE RECONCILIATIONS & OVERVIEW HIGHLIGHTS UPDATE OPPORTUNITIES RESPONSIBILITY SUPPLEMENTAL INFO TABLE OF CONTENTS 4 COMPANY OVERVIEW 14 RECENT HIGHLIGHTS 18 PORTFOLIO UPDATE 23 GROWTH OPPORTUNITIES 35 CORPORATE RESPONSIBILITY 42 RECONCILIATIONS & SUPPLEMENTAL IN
Slide 4: Company Overview
COMPANY RECENT PORTFOLIO GROWTH CORPORATE RECONCILIATIONS & OVERVIEW HIGHLIGHTS UPDATE OPPORTUNITIES RESPONSIBILITY SUPPLEMENTAL INFO Company Overview THE RITZ-CARLTON, NAPLES
Slide 5: Host Hotels & Resorts Fact Sheet
COMPANY RECENT PORTFOLIO GROWTH CORPORATE RECONCILIATIONS & OVERVIEW HIGHLIGHTS UPDATE OPPORTUNITIES RESPONSIBILITY SUPPLEMENTAL INFO Host Hotels & Resorts Fact Sheet HST NASDAQ S&P 500 SINCE 2007 $10.0B $14.9B EQUITY MARKET CAP(1) ENTERPRISE VALUE(1) ONLY S&P 500 LODGING REIT 1 REIT IN 1998 st BECA
Slide 6: Leading Bottom-Line Growth
COMPANY RECENT PORTFOLIO GROWTH CORPORATE RECONCILIATIONS & OVERVIEW HIGHLIGHTS UPDATE OPPORTUNITIES RESPONSIBILITY SUPPLEMENTAL INFO Leading Bottom-Line Growth Entering the pandemic with a fortress balance sheet allowed Host to opportunistically re-invest in our portfolio and accretively recycle as
Slide 7: Shareholder Value Creation
COMPANY RECENT PORTFOLIO GROWTH CORPORATE RECONCILIATIONS & OVERVIEW HIGHLIGHTS UPDATE OPPORTUNITIES RESPONSIBILITY SUPPLEMENTAL INFO Shareholder Value Creation Host leads the full-service lodging REITs in cumulative free cash flow from 2019 through 2024 despite proactively accelerating capex invest
Slide 8: Opportunistic Positioning
COMPANY RECENT PORTFOLIO GROWTH CORPORATE RECONCILIATIONS & OVERVIEW HIGHLIGHTS UPDATE OPPORTUNITIES RESPONSIBILITY SUPPLEMENTAL INFO Opportunistic Positioning Host maintains a fortress, investment grade balance sheet with low leverage and ample liquidity to preserve optionality and flexibility in a
Slide 9: Key Highlights – Q1 2025
COMPANY RECENT PORTFOLIO GROWTH CORPORATE RECONCILIATIONS & OVERVIEW HIGHLIGHTS UPDATE OPPORTUNITIES RESPONSIBILITY SUPPLEMENTAL INFO Key Highlights – Q1 2025 +5.8% $514 31.8% TRevPAR MILLION MARGIN Comparable Hotel Total Adjusted EBITDAre, Comparable Hotel RevPAR compared to Q1 2024 5.1% above Q1 2
Slide 10: 2025 Outlook
COMPANY RECENT PORTFOLIO GROWTH CORPORATE RECONCILIATIONS & OVERVIEW HIGHLIGHTS UPDATE OPPORTUNITIES RESPONSIBILITY SUPPLEMENTAL INFO 2025 Outlook OPERATIONAL OUTLOOK Subject to factors that may affect lodging demand Full Year 2025(1) Low High vs. 2024 Midpoint(1) vs. 2024 Comparable Hotel Total Rev
Slide 11: Investment Thesis
COMPANY RECENT PORTFOLIO GROWTH CORPORATE RECONCILIATIONS & OVERVIEW HIGHLIGHTS UPDATE OPPORTUNITIES RESPONSIBILITY SUPPLEMENTAL INFO Investment Thesis Capital Allocation Track Record Significant EBITDA Growth Potential Accretive capital recycling since current management team Path to significant Ad
Slide 12: Investment Thesis
COMPANY RECENT PORTFOLIO GROWTH CORPORATE RECONCILIATIONS & OVERVIEW HIGHLIGHTS UPDATE OPPORTUNITIES RESPONSIBILITY SUPPLEMENTAL INFO Investment Thesis Strong Balance Sheet Diverse Portfolio Size, Scale & Reputation ► Only investment grade rating among lodging Geographic EBITDA diversification: no m
Slide 13: Balance Sheet
COMPANY RECENT PORTFOLIO GROWTH CORPORATE RECONCILIATIONS & OVERVIEW HIGHLIGHTS UPDATE OPPORTUNITIES RESPONSIBILITY SUPPLEMENTAL INFO Balance Sheet Strong credit profile and investment grade balance sheet provides flexibility and optionality. TOTAL AVAILABLE LIQUIDITY INVESTMENT GRADE RATED(2) UNENC
Slide 14: Recent Highlights
COMPANY RECENT PORTFOLIO GROWTH CORPORATE RECONCILIATIONS & OVERVIEW HIGHLIGHTS UPDATE OPPORTUNITIES RESPONSIBILITY SUPPLEMENTAL INFO Recent Highlights THE RITZ-CARLTON, AMELIA ISLAND
Slide 15: Recent Capital Allocation
COMPANY RECENT PORTFOLIO GROWTH CORPORATE RECONCILIATIONS & OVERVIEW HIGHLIGHTS UPDATE OPPORTUNITIES RESPONSIBILITY SUPPLEMENTAL INFO Recent Capital Allocation CAPITAL RETURN TO STOCKHOLDERS DIVIDEND SHARE REPURCHASE $1.8B ► Total dividends paid since re-introducing the $415M ► Since 2022, 25.7 mill
Slide 16: Comprehensive Renovation Scorecard
COMPANY RECENT PORTFOLIO GROWTH CORPORATE RECONCILIATIONS & OVERVIEW HIGHLIGHTS UPDATE OPPORTUNITIES RESPONSIBILITY SUPPLEMENTAL INFO Comprehensive Renovation Scorecard Host leveraged its unique relationship with Marriott to devise the Marriott Transformational Capital Program (“MTCP”), a first-of-i
Slide 17: Hyatt Transformational Capital Program Overview
COMPANY RECENT PORTFOLIO GROWTH CORPORATE RECONCILIATIONS & OVERVIEW HIGHLIGHTS UPDATE OPPORTUNITIES RESPONSIBILITY SUPPLEMENTAL INFO Hyatt Transformational Capital Program Overview WHAT Following the success of stabilized comprehensive renovations, Host has reached an agreement with Hyatt on the Hy
Slide 18: Portfolio Update
COMPANY RECENT PORTFOLIO GROWTH CORPORATE RECONCILIATIONS & OVERVIEW HIGHLIGHTS UPDATE OPPORTUNITIES RESPONSIBILITY SUPPLEMENTAL INFO Portfolio Update FAIRMONT KEA LANI, MAUI
Slide 19: Topline Growth Driven By Rate Growth
COMPANY RECENT PORTFOLIO GROWTH CORPORATE RECONCILIATIONS & OVERVIEW HIGHLIGHTS UPDATE OPPORTUNITIES RESPONSIBILITY SUPPLEMENTAL INFO Topline Growth Driven By Rate Growth In Q1, RevPAR growth outpaced Total RevPAR driven by outsized rate growth for special events. For the full year 2025, we still ex
Slide 20: Q1 2025 Highlights: Continued Strength in Group Business
COMPANY RECENT PORTFOLIO GROWTH CORPORATE RECONCILIATIONS & OVERVIEW HIGHLIGHTS UPDATE OPPORTUNITIES RESPONSIBILITY SUPPLEMENTAL INFO Continued Strength in Group Business Q1 2025 +7% Group room RevPAR increase over Q1 2024 including a (220) bps impact from Maui recovery Highlights and relief group r
Slide 21: Strong Recent Transient Demand
COMPANY RECENT PORTFOLIO GROWTH CORPORATE RECONCILIATIONS & OVERVIEW HIGHLIGHTS UPDATE OPPORTUNITIES RESPONSIBILITY SUPPLEMENTAL INFO Strong Recent Transient Demand BUSINESS TRANSIENT +2% Overall Transient Overall transient revenue increased 6% in Increase in Business Transient RevPAR in Q1 2025 com
Slide 22: 2025 Outlook - Margin Headwinds
COMPANY RECENT PORTFOLIO GROWTH CORPORATE RECONCILIATIONS & OVERVIEW HIGHLIGHTS UPDATE OPPORTUNITIES RESPONSIBILITY SUPPLEMENTAL INFO 2025 Outlook - Margin Headwinds In 2025, we expect Comparable Hotel EBITDA margins to decline by 130 basis points compared to 2024 driven by wage and benefit expense
Slide 23: Growth Opportunities
COMPANY RECENT PORTFOLIO GROWTH CORPORATE RECONCILIATIONS & OVERVIEW HIGHLIGHTS UPDATE OPPORTUNITIES RESPONSIBILITY SUPPLEMENTAL INFO Growth Opportunities NEW YORK MARRIOTT MARQUIS
Slide 24: Long-Term, Opportunistic Value Creation
COMPANY RECENT PORTFOLIO GROWTH CORPORATE RECONCILIATIONS & OVERVIEW HIGHLIGHTS UPDATE OPPORTUNITIES RESPONSIBILITY SUPPLEMENTAL INFO Long-Term, Opportunistic Value Creation Host has a history of creatively extracting value from its existing investments and recycling capital into EBITDA- generating
Slide 25: CapEx Investment Summary
COMPANY RECENT PORTFOLIO GROWTH CORPORATE RECONCILIATIONS & OVERVIEW HIGHLIGHTS UPDATE OPPORTUNITIES RESPONSIBILITY SUPPLEMENTAL INFO CapEx Investment Summary We have meaningfully reinvested in our properties from 2020-2024 with the goal of increasing our RevPAR index share and elevating the EBITDA
Slide 26: Comprehensive Renovation CapEx Case Study: The Westin Denver Downtown
COMPANY RECENT PORTFOLIO GROWTH CORPORATE RECONCILIATIONS & OVERVIEW HIGHLIGHTS UPDATE OPPORTUNITIES RESPONSIBILITY SUPPLEMENTAL INFO Comprehensive Renovation CapEx Case Study THE WESTIN DENVER DOWNTOWN Situated in the heart of downtown Denver with stunning mountain vistas, the newly renovated Westi
Slide 27: Comprehensive Renovation Case Study
COMPANY RECENT PORTFOLIO GROWTH CORPORATE RECONCILIATIONS & OVERVIEW HIGHLIGHTS UPDATE OPPORTUNITIES RESPONSIBILITY SUPPLEMENTAL INFO Comprehensive Renovation Case Study THE WESTIN DENVER DOWNTOWN GOAL Renovation underwriting target: 3-5 points of RevPAR index share gain(1) compared to the three-yea
Slide 28: Comprehensive Renovation CapEx Case Study: The Westin Georgetown
COMPANY RECENT PORTFOLIO GROWTH CORPORATE RECONCILIATIONS & OVERVIEW HIGHLIGHTS UPDATE OPPORTUNITIES RESPONSIBILITY SUPPLEMENTAL INFO Comprehensive Renovation CapEx Case Study THE WESTIN GEORGETOWN, WASHINGTON D.C. Designed to inspire, the reimagined Westin Georgetown offers guests a luxurious retre
Slide 29: Comprehensive Renovation Case Study
COMPANY RECENT PORTFOLIO GROWTH CORPORATE RECONCILIATIONS & OVERVIEW HIGHLIGHTS UPDATE OPPORTUNITIES RESPONSIBILITY SUPPLEMENTAL INFO Comprehensive Renovation Case Study THE WESTIN GEORGETOWN, WASHINGTON D.C. GOAL Renovation underwriting target: 3-5 points of RevPAR index share gain(1) compared to t
Slide 30: MTCP CapEx Case Study: Marriott Marquis San Diego Marina
COMPANY RECENT PORTFOLIO GROWTH CORPORATE RECONCILIATIONS & OVERVIEW HIGHLIGHTS UPDATE OPPORTUNITIES RESPONSIBILITY SUPPLEMENTAL INFO MTCP CapEx Case Study MARRIOTT MARQUIS SAN DIEGO MARINA Ideally situated in the heart of San Diego, the coastal metro themed renovation provides an air of sophisticat
Slide 31: MTCP CapEx Case Study
COMPANY RECENT PORTFOLIO GROWTH CORPORATE RECONCILIATIONS & OVERVIEW HIGHLIGHTS UPDATE OPPORTUNITIES RESPONSIBILITY SUPPLEMENTAL INFO MTCP CapEx Case Study MARRIOTT MARQUIS SAN DIEGO MARINA GOAL MTCP underwriting target: 3-5 points of RevPAR index share gain(1) compared to the three-year RevPAR inde
Slide 32: Resiliency Program Case Studies
COMPANY RECENT PORTFOLIO GROWTH CORPORATE RECONCILIATIONS & OVERVIEW HIGHLIGHTS UPDATE OPPORTUNITIES RESPONSIBILITY SUPPLEMENTAL INFO Resiliency Program Case Studies PROGRAM DON CESAR RESILIENCY ENHANCEMENTS UPDATE Reconstruction following Hurricanes Helene and Milton allowed for opportunistic resil
Slide 33: Potential Future EBITDA Growth
COMPANY RECENT PORTFOLIO GROWTH CORPORATE RECONCILIATIONS & OVERVIEW HIGHLIGHTS UPDATE OPPORTUNITIES RESPONSIBILITY SUPPLEMENTAL INFO Potential Future EBITDA Growth Our goal is to meaningfully grow our EBITDA over time through multiple internal and external growth drivers. BUILDING BLOCKS OF POTENTI
Slide 34: Potential Future EBITDA Growth Assumptions
COMPANY RECENT PORTFOLIO GROWTH CORPORATE RECONCILIATIONS & OVERVIEW HIGHLIGHTS UPDATE OPPORTUNITIES RESPONSIBILITY SUPPLEMENTAL INFO Potential Future EBITDA Growth Assumptions OPERATIONS ► Occupancy increase of approximately 4 percentage points beyond 2024, which is roughly half of the occupancy ga
Slide 35: Corporate Responsibility
COMPANY RECENT PORTFOLIO GROWTH CORPORATE RECONCILIATIONS & OVERVIEW HIGHLIGHTS UPDATE OPPORTUNITIES RESPONSIBILITY SUPPLEMENTAL INFO Corporate Responsibility THE RITZ-CARLTON O’AHU, TURTLE BAY
Slide 36: Responsible Investments Create Value
COMPANY RECENT PORTFOLIO GROWTH CORPORATE RECONCILIATIONS & OVERVIEW HIGHLIGHTS UPDATE OPPORTUNITIES RESPONSIBILITY SUPPLEMENTAL INFO Responsible Investments Create Value Host’s Corporate Responsibility program is centered around the concept of responsible investment—an overarching strategy that gui
Slide 37: 2050 Vision | Strategy
COMPANY RECENT PORTFOLIO GROWTH CORPORATE RECONCILIATIONS & OVERVIEW HIGHLIGHTS UPDATE OPPORTUNITIES RESPONSIBILITY SUPPLEMENTAL INFO 2050 Vision | Strategy Net Positive Vision to Raise the Bar Host’s aspirational vision is to become a net positive company by 2050. Our 2050 vision is underpinned by
Slide 38: Destinations | Environmental Stewardship at Host
COMPANY RECENT PORTFOLIO GROWTH CORPORATE RECONCILIATIONS & OVERVIEW HIGHLIGHTS UPDATE OPPORTUNITIES RESPONSIBILITY SUPPLEMENTAL INFO Destinations | Environmental Stewardship at Host We are investing in solutions that conserve and restore natural capital to assist Host in mitigating climate change a
Slide 39: Environmental Stewardship | Green Building
COMPANY RECENT PORTFOLIO GROWTH CORPORATE RECONCILIATIONS & OVERVIEW HIGHLIGHTS UPDATE OPPORTUNITIES RESPONSIBILITY SUPPLEMENTAL INFO Environmental Stewardship | Green Building 20 PROPERTIES WITH LEED® CERTIFICATION, INCLUDING 4 LEED GOLD HOTELS 17 LEED PROJECTS AT 16 PROPERTIES IN THE PIPELINE LEED
Slide 40: Oversight | Attention to Governance
COMPANY RECENT PORTFOLIO GROWTH CORPORATE RECONCILIATIONS & OVERVIEW HIGHLIGHTS UPDATE OPPORTUNITIES RESPONSIBILITY SUPPLEMENTAL INFO Oversight | Attention to Governance Our responsible investment strategies are guided by executive and board-level oversight, our EPIC values and ethical standards, an
Slide 41: ESG Leadership & Recognition
COMPANY RECENT PORTFOLIO GROWTH CORPORATE RECONCILIATIONS & OVERVIEW HIGHLIGHTS UPDATE OPPORTUNITIES RESPONSIBILITY SUPPLEMENTAL INFO ESG Leadership & Recognition 2024 Diversity Impact Award Industry Leader (Top 10%) Dow Jones Best-in-Class World Winner for Large Cap REITs and North America Indices
Slide 42: Reconciliations & Supplemental Information
COMPANY RECENT PORTFOLIO GROWTH CORPORATE RECONCILIATIONS & OVERVIEW HIGHLIGHTS UPDATE OPPORTUNITIES RESPONSIBILITY SUPPLEMENTAL INFO Reconciliations & Supplemental Information EMBASSY SUITES BY HILTON NASHVILLE DOWNTOWN
Slide 43: Appendix Table of Contents
COMPANY RECENT PORTFOLIO GROWTH CORPORATE RECONCILIATIONS & OVERVIEW HIGHLIGHTS UPDATE OPPORTUNITIES RESPONSIBILITY SUPPLEMENTAL INFO Appendix Table of Contents Key Terms and Statistics A-3 • Defined Terms A-3 • Non-GAAP Financial Measures A-3 • Items that may Affect Forecast Results, Projections, a
Slide 44: Key Terms And Statistics
COMPANY RECENT PORTFOLIO GROWTH CORPORATE RECONCILIATIONS & OVERVIEW HIGHLIGHTS UPDATE OPPORTUNITIES RESPONSIBILITY SUPPLEMENTAL INFO Key Terms And Statistics Defined Terms Cap Rate – Capitalization Rate, calculated as Net Operating Income (NOI) divided by sales price. The corresponding metric using
Slide 45: Key Terms And Statistics
COMPANY RECENT PORTFOLIO GROWTH CORPORATE RECONCILIATIONS & OVERVIEW HIGHLIGHTS UPDATE OPPORTUNITIES RESPONSIBILITY SUPPLEMENTAL INFO Key Terms And Statistics 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
Slide 46: Key Terms And Statistics
COMPANY RECENT PORTFOLIO GROWTH CORPORATE RECONCILIATIONS & OVERVIEW HIGHLIGHTS UPDATE OPPORTUNITIES RESPONSIBILITY SUPPLEMENTAL INFO Key Terms And Statistics • Gains and Losses on the Extinguishment of Debt – We exclude the effect of finance charges and premiums associated with the extinguishment o
Slide 47: Key Terms And Statistics
COMPANY RECENT PORTFOLIO GROWTH CORPORATE RECONCILIATIONS & OVERVIEW HIGHLIGHTS UPDATE OPPORTUNITIES RESPONSIBILITY SUPPLEMENTAL INFO Key Terms And Statistics EBITDAre and Adjusted EBITDAre We present EBITDAre in accordance with NAREIT guidelines, as defined in its September 2017 white paper “Earnin
Slide 48: Key Terms And Statistics
COMPANY RECENT PORTFOLIO GROWTH CORPORATE RECONCILIATIONS & OVERVIEW HIGHLIGHTS UPDATE OPPORTUNITIES RESPONSIBILITY SUPPLEMENTAL INFO Key Terms And Statistics Limitations on the Use of NAREIT FFO per Diluted Share, Adjusted FFO per Diluted Share, EBITDA, EBITDAre, and Adjusted EBITDAre We calculate
Slide 49: Key Terms And Statistics
COMPANY RECENT PORTFOLIO GROWTH CORPORATE RECONCILIATIONS & OVERVIEW HIGHLIGHTS UPDATE OPPORTUNITIES RESPONSIBILITY SUPPLEMENTAL INFO Key Terms And Statistics Comparable Hotel Operating Statistics and Results To facilitate a year-to-year comparison of our operations, we present certain operating sta
Slide 50: Key Terms And Statistics
COMPANY RECENT PORTFOLIO GROWTH CORPORATE RECONCILIATIONS & OVERVIEW HIGHLIGHTS UPDATE OPPORTUNITIES RESPONSIBILITY SUPPLEMENTAL INFO Key Terms And Statistics Comparable Hotel Property Level Operating Results We present certain operating results for our hotels, such as hotel revenues, expenses, food
Slide 51: Key Terms And Statistics
COMPANY RECENT PORTFOLIO GROWTH CORPORATE RECONCILIATIONS & OVERVIEW HIGHLIGHTS UPDATE OPPORTUNITIES RESPONSIBILITY SUPPLEMENTAL INFO Key Terms And Statistics Free Cash Flow We present free cash flow as a non-GAAP financial measure of our performance, in addition to our net cash provided by (used in
Slide 52: Key Terms And Statistics
COMPANY RECENT PORTFOLIO GROWTH CORPORATE RECONCILIATIONS & OVERVIEW HIGHLIGHTS UPDATE OPPORTUNITIES RESPONSIBILITY SUPPLEMENTAL INFO Key Terms And Statistics Forecasts Our forecast of net income, earnings per diluted share, NAREIT and Adjusted FFO per diluted share, EBITDA, EBITDAre, Adjusted EBITD
Slide 53: Reconciliation of GAAP Leverage Ratio to Credit Facility Leverage Ratio
COMPANY RECENT PORTFOLIO GROWTH CORPORATE RECONCILIATIONS & OVERVIEW HIGHLIGHTS UPDATE OPPORTUNITIES RESPONSIBILITY SUPPLEMENTAL INFO Reconciliation of GAAP Leverage Ratio to Credit Facility Leverage Ratio (UNAUDITED, IN MILLIONS, EXCEPT RATIOS) The following tables present the calculation of Host’s
Slide 54: Reconciliation of GAAP Leverage Ratio to Credit Facility Leverage Ratio
COMPANY RECENT PORTFOLIO GROWTH CORPORATE RECONCILIATIONS & OVERVIEW HIGHLIGHTS UPDATE OPPORTUNITIES RESPONSIBILITY SUPPLEMENTAL INFO Reconciliation of GAAP Leverage Ratio to Credit Facility Leverage Ratio 2. The following presents the reconciliation of net income to EBITDA, EBITDAre, Adjusted EBITD
Slide 55: Reconciliation of Net Income to EBITDA, EBITDAre, and Adjusted EBITDAre
COMPANY RECENT PORTFOLIO GROWTH CORPORATE RECONCILIATIONS & OVERVIEW HIGHLIGHTS UPDATE OPPORTUNITIES RESPONSIBILITY SUPPLEMENTAL INFO Reconciliation of Net Income to EBITDA, EBITDAre, and Adjusted EBITDAre The following tables reconcile net income to EBITDA, EBITDAre and Adjusted EBITDAre The follow
Slide 56: Reconciliation of Diluted Earnings per Common Share to NAREIT and Adjusted FFO
COMPANY RECENT PORTFOLIO GROWTH CORPORATE RECONCILIATIONS & OVERVIEW HIGHLIGHTS UPDATE OPPORTUNITIES RESPONSIBILITY SUPPLEMENTAL INFO Reconciliation of Diluted Earnings per Common Share to NAREIT and Adjusted Funds From Operations per Diluted Share The following table reconciles diluted earnings per
Slide 57: Schedule of Comparable Hotel Results Using 2025 Comparable Hotel Set
COMPANY RECENT PORTFOLIO GROWTH CORPORATE RECONCILIATIONS & OVERVIEW HIGHLIGHTS UPDATE OPPORTUNITIES RESPONSIBILITY SUPPLEMENTAL INFO Schedule of Comparable Hotel Results Using 2025 Comparable Hotel Set The following table reconciles the first quarter 2025 and 2024 GAAP results to Comparable hotel E
Slide 58: Schedule of Comparable Hotel Results Using 2025 Comparable Hotel Set (cont.)
COMPANY RECENT PORTFOLIO GROWTH CORPORATE RECONCILIATIONS & OVERVIEW HIGHLIGHTS UPDATE OPPORTUNITIES RESPONSIBILITY SUPPLEMENTAL INFO Schedule of Comparable Hotel Results Using 2025 Comparable Hotel Set (cont.) Quarter ended March 31, 2025 Quarter ended March 31, 2024 Adjustments Adjustments Non- No
Slide 59: Reconciliation of Net Income to Hotel EBITDA for Renovation and Development Projects
COMPANY RECENT PORTFOLIO GROWTH CORPORATE RECONCILIATIONS & OVERVIEW HIGHLIGHTS UPDATE OPPORTUNITIES RESPONSIBILITY SUPPLEMENTAL INFO Reconciliation of Net Income to Hotel EBITDA for Renovation and Development Projects The following table reconciles net income to Hotel-level EBITDA for an investment
Slide 60: Full-Service Lodging REITs Comparisons
COMPANY RECENT PORTFOLIO GROWTH CORPORATE RECONCILIATIONS & OVERVIEW HIGHLIGHTS UPDATE OPPORTUNITIES RESPONSIBILITY SUPPLEMENTAL INFO Full-Service Lodging REITs Comparisons Lodging REITs in the other full-service lodging REIT group are based on the next six largest lodging REITs by market capitaliza
Slide 61: Full-Service Lodging REITs Comparisons
COMPANY RECENT PORTFOLIO GROWTH CORPORATE RECONCILIATIONS & OVERVIEW HIGHLIGHTS UPDATE OPPORTUNITIES RESPONSIBILITY SUPPLEMENTAL INFO Full-Service Lodging REITs Comparisons The following tables reconciles Free Cash Flow, which is calculated as Net cash provided by operating activities less Capital E
Slide 62: Schedule of Net Income to Comparable Hotel EBITDA for 2024 by Geographic Location
COMPANY RECENT PORTFOLIO GROWTH CORPORATE RECONCILIATIONS & OVERVIEW HIGHLIGHTS UPDATE OPPORTUNITIES RESPONSIBILITY SUPPLEMENTAL INFO Schedule of Net Income to Comparable Hotel EBITDA for 2024 by Geographic Location The following table reconciles net income to Comparable Hotel EBITDA for 2024 by geo
Slide 63: Acquisitions & Dispositions Metrics
COMPANY RECENT PORTFOLIO GROWTH CORPORATE RECONCILIATIONS & OVERVIEW HIGHLIGHTS UPDATE OPPORTUNITIES RESPONSIBILITY SUPPLEMENTAL INFO Acquisitions & Dispositions Metrics The following tables reconcile net income to Hotel EBITDA for the 2018-2024 acquisitions and dispositions (in millions, except for
Slide 64: Reconciliation of Net Income to EBITDA, EBITDAre, and Adjusted EBITDAre for Full Year 2025 Forecast
COMPANY RECENT PORTFOLIO GROWTH CORPORATE RECONCILIATIONS & OVERVIEW HIGHLIGHTS UPDATE OPPORTUNITIES RESPONSIBILITY SUPPLEMENTAL INFO 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
Slide 65: Reconciliation of Net Income to EBITDA, EBITDAre, and Adjusted EBITDAre for Full Year 2025 Forecast
COMPANY RECENT PORTFOLIO GROWTH CORPORATE RECONCILIATIONS & OVERVIEW HIGHLIGHTS UPDATE OPPORTUNITIES RESPONSIBILITY SUPPLEMENTAL INFO 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
Slide 66: Schedule of Comparable Hotel Results for Full Year 2025 Forecast
COMPANY RECENT PORTFOLIO GROWTH CORPORATE RECONCILIATIONS & OVERVIEW HIGHLIGHTS UPDATE OPPORTUNITIES RESPONSIBILITY SUPPLEMENTAL INFO Schedule of Comparable Hotel Results for Full Year 2025 Forecast(1) The following table reconciles the Full Year 2025 Forecast GAAP results to Comparable hotel EBITDA
Slide 67: Schedule of Comparable Hotel Results for Full Year 2025 Forecast
COMPANY RECENT PORTFOLIO GROWTH CORPORATE RECONCILIATIONS & OVERVIEW HIGHLIGHTS UPDATE OPPORTUNITIES RESPONSIBILITY SUPPLEMENTAL INFO Schedule of Comparable Hotel Results for Full Year 2025 Forecast Low-end of range Mid-point of range High-end of range Adjustments Adjustments Adjustments Non- Deprec
Slide 68: Schedule of Comparable Hotel Results using 2025 Comparable Hotel Set
COMPANY RECENT PORTFOLIO GROWTH CORPORATE RECONCILIATIONS & OVERVIEW HIGHLIGHTS UPDATE OPPORTUNITIES RESPONSIBILITY SUPPLEMENTAL INFO Schedule of Comparable Hotel Results using 2025 Comparable Hotel Set The following table reconciles the year ended December 31, 2024 GAAP results to Comparable Hotel
Host Hotels & Resorts — Q1 2025 Earnings Presentation on 6ix