Host Hotels & Resorts, Inc. · NASDAQ:HST
Host Hotels & Resorts — Investor Presentation (February 2023)
71 slides from Host Hotels & Resorts's investor presentation, February 2023
Slide 1: Investor Presentation
Investor Presentation FEBRUARY 2023 HYATT REGENCY MAUI RESORT AND SPA
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 13 RECENT HIGHLIGHTS 18 PORTFOLIO UPDATE 23 GROWTH OPPORTUNITIES 37 CORPORATE RESPONSIBILITY 45 RECONCILIATIONS & SUPPLEMENTAL IN
Slide 4: Company Overview
COMPANY RECENT PORTFOLIO GROWTH CORPORATE RECONCILIATIONS & OVERVIEW HIGHLIGHTS UPDATE OPPORTUNITIES RESPONSIBILITY SUPPLEMENTAL INFO Company Overview FOUR SEASONS RESORT AND RESIDENCES JACKSON HOLE
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 $11.6B $15.4B EQUITY MARKET CAP(1) ENTERPRISE VALUE(1) ONLY S&P 500 LODGING REIT 1 1998 st LODGING REIT
Slide 6: Key Highlights – Q4 2022
COMPANY RECENT PORTFOLIO GROWTH CORPORATE RECONCILIATIONS & OVERVIEW HIGHLIGHTS UPDATE OPPORTUNITIES RESPONSIBILITY SUPPLEMENTAL INFO Key Highlights – Q4 2022 +0.6% $373 29.5% RevPAR MILLION MARGIN All Owned Hotel RevPAR All Owned Hotel EBITDA(1), All Owned Hotel EBITDA margin(1), compared to Q4 201
Slide 7: Company Dashboard
COMPANY RECENT PORTFOLIO GROWTH CORPORATE RECONCILIATIONS & OVERVIEW HIGHLIGHTS UPDATE OPPORTUNITIES RESPONSIBILITY SUPPLEMENTAL INFO Company Dashboard Since 2017, we have significantly improved revenue and profitability metrics for our iconic and irreplaceable portfolio. RevPAR Total RevPAR EBITDA/
Slide 8: 2023 Outlook
COMPANY RECENT PORTFOLIO GROWTH CORPORATE RECONCILIATIONS & OVERVIEW HIGHLIGHTS UPDATE OPPORTUNITIES RESPONSIBILITY SUPPLEMENTAL INFO 2023 Outlook OPERATIONAL OUTLOOK Subject to factors that may affect lodging demand Full Year 2023(1) Low High vs. 2022 Midpoint vs. 2022 Comparable Hotel Total RevPAR
Slide 9: Investment Thesis: Capital Allocation Track Record, EBITDA Growth Profile
COMPANY RECENT PORTFOLIO GROWTH CORPORATE RECONCILIATIONS & OVERVIEW HIGHLIGHTS UPDATE OPPORTUNITIES RESPONSIBILITY SUPPLEMENTAL INFO Investment Thesis Capital Allocation Track Record EBITDA Growth Profile Accretive capital recycling since current management team Targeting $290 - $365 million of inc
Slide 10: Investment Thesis: Strong Balance Sheet, Diverse Portfolio
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 11: Strategic Objectives
COMPANY RECENT PORTFOLIO GROWTH CORPORATE RECONCILIATIONS & OVERVIEW HIGHLIGHTS UPDATE OPPORTUNITIES RESPONSIBILITY SUPPLEMENTAL INFO Strategic Objectives REDEFINING THE SEEKING TO GAIN MARKET SHARE THROUGH ALLOCATING CAPITAL TO OPERATING MODEL COMPREHENSIVE RENOVATIONS DEVELOPMENT ROI PROJECTS $100
Slide 12: 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(1) UNENC
Slide 13: Recent Highlights
COMPANY RECENT PORTFOLIO GROWTH CORPORATE RECONCILIATIONS & OVERVIEW HIGHLIGHTS UPDATE OPPORTUNITIES RESPONSIBILITY SUPPLEMENTAL INFO Recent Highlights HOTEL VAN ZANDT
Slide 14: Capital Allocation Recap 2021–2022
COMPANY RECENT PORTFOLIO GROWTH CORPORATE RECONCILIATIONS & OVERVIEW HIGHLIGHTS UPDATE OPPORTUNITIES RESPONSIBILITY SUPPLEMENTAL INFO Capital Allocation Recap 2021 – 2022 ACQUISITIONS 2021 – 2022 DISPOSITIONS ► Hyatt Regency Austin ► San Ramon Marriott (ground lease) ► Four Seasons Resort Orlando at
Slide 15: 2021–2022 Hotel Acquisitions Summary
COMPANY RECENT PORTFOLIO GROWTH CORPORATE RECONCILIATIONS & OVERVIEW HIGHLIGHTS UPDATE OPPORTUNITIES RESPONSIBILITY SUPPLEMENTAL INFO 2021 – 2022 Hotel Acquisitions Summary EBITDA Stabilized Stabilization Price EBITDA per Off- Keys Multiple at EBITDA Timeframe (millions) Key(1) Market? Acquisition(1
Slide 16: Stabilized EBITDA Multiple Details
COMPANY RECENT PORTFOLIO GROWTH CORPORATE RECONCILIATIONS & OVERVIEW HIGHLIGHTS UPDATE OPPORTUNITIES RESPONSIBILITY SUPPLEMENTAL INFO Stabilized EBITDA Multiple Details We are targeting the stabilized EBITDA multiples presented on the prior slide by taking the following steps at each asset: HYATT FO
Slide 17: Stabilized EBITDA Multiple Details
COMPANY RECENT PORTFOLIO GROWTH CORPORATE RECONCILIATIONS & OVERVIEW HIGHLIGHTS UPDATE OPPORTUNITIES RESPONSIBILITY SUPPLEMENTAL INFO Stabilized EBITDA Multiple Details We are targeting the stabilized EBITDA multiples presented on slide 15 by taking the following steps at each asset: ALILA THE HOTEL
Slide 18: Portfolio Update
COMPANY RECENT PORTFOLIO GROWTH CORPORATE RECONCILIATIONS & OVERVIEW HIGHLIGHTS UPDATE OPPORTUNITIES RESPONSIBILITY SUPPLEMENTAL INFO Portfolio Update ALILA VENTANA BIG SUR
Slide 19: Improved Topline Performance
COMPANY RECENT PORTFOLIO GROWTH CORPORATE RECONCILIATIONS & OVERVIEW HIGHLIGHTS UPDATE OPPORTUNITIES RESPONSIBILITY SUPPLEMENTAL INFO Improved Topline Performance Led by ADR, revenue has recovered to pre-pandemic levels overall, but quarterly results still varied. 2022 RevPAR and Total RevPAR vs. 20
Slide 20: Accelerating Group Business
COMPANY RECENT PORTFOLIO GROWTH CORPORATE RECONCILIATIONS & OVERVIEW HIGHLIGHTS UPDATE OPPORTUNITIES RESPONSIBILITY SUPPLEMENTAL INFO Accelerating Group Business Q4 2022 +2% Group room revenue increase over Q4 2019 despite rooms sold down 8% Highlights Group business continued to show +10% Group ADR
Slide 21: Strengthening Transient Demand
COMPANY RECENT PORTFOLIO GROWTH CORPORATE RECONCILIATIONS & OVERVIEW HIGHLIGHTS UPDATE OPPORTUNITIES RESPONSIBILITY SUPPLEMENTAL INFO Strengthening Transient Demand OVERALL TRANSIENT BUSINESS TRANSIENT +22% Increase in transient ADR in Q4 2022 compared to Q4 +2% Increase in Business Transient ADR in
Slide 22: Margin Performance
COMPANY RECENT PORTFOLIO GROWTH CORPORATE RECONCILIATIONS & OVERVIEW HIGHLIGHTS UPDATE OPPORTUNITIES RESPONSIBILITY SUPPLEMENTAL INFO Margin Performance Through operational and portfolio improvements, our 2022 All Owned Hotel EBITDA margin meaningfully improved compared to 2019 despite lagging occup
Slide 23: Growth Opportunities
COMPANY RECENT PORTFOLIO GROWTH CORPORATE RECONCILIATIONS & OVERVIEW HIGHLIGHTS UPDATE OPPORTUNITIES RESPONSIBILITY SUPPLEMENTAL INFO Growth Opportunities MARINA DEL REY MARRIOTT
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: EBITDA Growth Drivers
COMPANY RECENT PORTFOLIO GROWTH CORPORATE RECONCILIATIONS & OVERVIEW HIGHLIGHTS UPDATE OPPORTUNITIES RESPONSIBILITY SUPPLEMENTAL INFO EBITDA Growth Drivers Our goal is to meaningfully grow our hotel EBITDA throughout the current lodging cycle through multiple external and internal growth drivers. Al
Slide 26: CapEx Investment Comparison
COMPANY RECENT PORTFOLIO GROWTH CORPORATE RECONCILIATIONS & OVERVIEW HIGHLIGHTS UPDATE OPPORTUNITIES RESPONSIBILITY SUPPLEMENTAL INFO CapEx Investment Comparison We have been able to meaningfully invest in our properties with minimal disruption in 2020-2022 as a result of entering 2020 with low leve
Slide 27: MTCP CapEx Case Study: JW Marriott Atlanta Buckhead
COMPANY RECENT PORTFOLIO GROWTH CORPORATE RECONCILIATIONS & OVERVIEW HIGHLIGHTS UPDATE OPPORTUNITIES RESPONSIBILITY SUPPLEMENTAL INFO MTCP CapEx Case Study JW MARRIOTT ATLANTA BUCKHEAD Offering the perfect blend of modern mid-century design, luxury service, and serene elegance in Atlanta’s upscale B
Slide 28: MTCP CapEx Case Study: JW Marriott Atlanta Buckhead
COMPANY RECENT PORTFOLIO GROWTH CORPORATE RECONCILIATIONS & OVERVIEW HIGHLIGHTS UPDATE OPPORTUNITIES RESPONSIBILITY SUPPLEMENTAL INFO MTCP CapEx Case Study JW MARRIOTT ATLANTA BUCKHEAD GOAL MTCP underwriting target: 3-5 points of RevPAR index share gain(1) compared to the three-year RevPAR index ave
Slide 29: MTCP CapEx Case Study: New York Marriott Marquis
COMPANY RECENT PORTFOLIO GROWTH CORPORATE RECONCILIATIONS & OVERVIEW HIGHLIGHTS UPDATE OPPORTUNITIES RESPONSIBILITY SUPPLEMENTAL INFO MTCP CapEx Case Study NEW YORK MARRIOTT MARQUIS The newly renovated New York Marriott Marquis is an iconic fixture of Times Square and brilliantly captures the vibran
Slide 30: MTCP CapEx Case Study: New York Marriott Marquis
COMPANY RECENT PORTFOLIO GROWTH CORPORATE RECONCILIATIONS & OVERVIEW HIGHLIGHTS UPDATE OPPORTUNITIES RESPONSIBILITY SUPPLEMENTAL INFO MTCP CapEx Case Study NEW YORK MARRIOTT MARQUIS GOAL MTCP underwriting target: 3-5 points of RevPAR index share gain(1) compared to the three-year RevPAR index averag
Slide 31: Comprehensive Renovation Case Study: Hyatt Regency Maui
COMPANY RECENT PORTFOLIO GROWTH CORPORATE RECONCILIATIONS & OVERVIEW HIGHLIGHTS UPDATE OPPORTUNITIES RESPONSIBILITY SUPPLEMENTAL INFO Comprehensive Renovation Case Study HYATT REGENCY MAUI RESORT AND SPA Set on 40 acres on Ka’anapali Beach, the completely reimagined Hyatt Regency Maui Resort and Spa
Slide 32: Comprehensive Renovation Case Study: Hyatt Regency Maui
COMPANY RECENT PORTFOLIO GROWTH CORPORATE RECONCILIATIONS & OVERVIEW HIGHLIGHTS UPDATE OPPORTUNITIES RESPONSIBILITY SUPPLEMENTAL INFO Comprehensive Renovation Case Study HYATT REGENCY MAUI RESORT AND SPA GOAL Underwriting target: 3-5 points of RevPAR index share gain(1) compared to the three-year Re
Slide 33: MTCP CapEx Case Study: New York Marriott Downtown
COMPANY RECENT PORTFOLIO GROWTH CORPORATE RECONCILIATIONS & OVERVIEW HIGHLIGHTS UPDATE OPPORTUNITIES RESPONSIBILITY SUPPLEMENTAL INFO MTCP CapEx Case Study NEW YORK MARRIOTT DOWNTOWN Soaring above the city streets, the New York Marriott Downtown has been fully reimagined to reflect the classic-meets
Slide 34: MTCP CapEx Case Study: New York Marriott Downtown
COMPANY RECENT PORTFOLIO GROWTH CORPORATE RECONCILIATIONS & OVERVIEW HIGHLIGHTS UPDATE OPPORTUNITIES RESPONSIBILITY SUPPLEMENTAL INFO MTCP CapEx Case Study NEW YORK MARRIOTT DOWNTOWN GOAL MTCP underwriting target: 3-5 points of RevPAR index share gain(1) compared to the three-year RevPAR index avera
Slide 35: ROI CapEx Case Study: Ritz-Carlton Naples, Tiburón
COMPANY RECENT PORTFOLIO GROWTH CORPORATE RECONCILIATIONS & OVERVIEW HIGHLIGHTS UPDATE OPPORTUNITIES RESPONSIBILITY SUPPLEMENTAL INFO ROI CapEx Case Study RITZ-CARLTON NAPLES, TIBURÓN Nestled amid rolling greens, tropical palm trees, and a shimmering lake stands a stately country club offering luxur
Slide 36: ROI CapEx Case Study: Ritz-Carlton Naples, Tiburón
COMPANY RECENT PORTFOLIO GROWTH CORPORATE RECONCILIATIONS & OVERVIEW HIGHLIGHTS UPDATE OPPORTUNITIES RESPONSIBILITY SUPPLEMENTAL INFO ROI CapEx Case Study RITZ-CARLTON NAPLES, TIBURÓN GOAL Distinguish the resort within the marketplace to diversify demand generators and drive operating performance th
Slide 37: Corporate Responsibility
COMPANY RECENT PORTFOLIO GROWTH CORPORATE RECONCILIATIONS & OVERVIEW HIGHLIGHTS UPDATE OPPORTUNITIES RESPONSIBILITY SUPPLEMENTAL INFO Corporate Responsibility VILLAS AT ANDAZ MAUI AT WAILEA RESORT
Slide 38: Value Creation Through Responsible Investment
COMPANY RECENT PORTFOLIO GROWTH CORPORATE RECONCILIATIONS & OVERVIEW HIGHLIGHTS UPDATE OPPORTUNITIES RESPONSIBILITY SUPPLEMENTAL INFO Value Creation Through Responsible Investment As the premier lodging REIT and a sustainability industry leader, we are committed to creating long-term value through i
Slide 39: Net Positive: Our 2050 Vision
COMPANY RECENT PORTFOLIO GROWTH CORPORATE RECONCILIATIONS & OVERVIEW HIGHLIGHTS UPDATE OPPORTUNITIES RESPONSIBILITY SUPPLEMENTAL INFO Net Positive: Our 2050 Vision We are currently working to attain our 2025 performance targets across environmental and social targets in addition to determining the k
Slide 40: Environmental Stewardship
COMPANY RECENT PORTFOLIO GROWTH CORPORATE RECONCILIATIONS & OVERVIEW HIGHLIGHTS UPDATE OPPORTUNITIES RESPONSIBILITY SUPPLEMENTAL INFO Environmental Stewardship We are investing in solutions that conserve and restore natural capital to assist Host in mitigating climate change and biodiversity impacts
Slide 41: Social Responsibility
COMPANY RECENT PORTFOLIO GROWTH CORPORATE RECONCILIATIONS & OVERVIEW HIGHLIGHTS UPDATE OPPORTUNITIES RESPONSIBILITY SUPPLEMENTAL INFO Social Responsibility We are committed to advancing health, well-being and opportunity for all Host stakeholders, including investors, employees, partners and communi
Slide 42: Governance
COMPANY RECENT PORTFOLIO GROWTH CORPORATE RECONCILIATIONS & OVERVIEW HIGHLIGHTS UPDATE OPPORTUNITIES RESPONSIBILITY SUPPLEMENTAL INFO Governance Our responsible investment strategies are guided by executive and board-level oversight, our EPIC values and ethical standards, and a disciplined approach
Slide 43: Commitment to Green Building Certifications
COMPANY RECENT PORTFOLIO GROWTH CORPORATE RECONCILIATIONS & OVERVIEW HIGHLIGHTS UPDATE OPPORTUNITIES RESPONSIBILITY SUPPLEMENTAL INFO Commitment to Green Building Certifications 10 LEED CERTIFICATIONS LEED GOLD LEED CERTIFIED LEED-CERTIFIED PROPERTIES, INCLUDING 3 LEED HYATT REGENCY MAUI HYATT REGEN
Slide 44: Awards & Recognition
COMPANY RECENT PORTFOLIO GROWTH CORPORATE RECONCILIATIONS & OVERVIEW HIGHLIGHTS UPDATE OPPORTUNITIES RESPONSIBILITY SUPPLEMENTAL INFO Awards & Recognition ESG LEADERSHIP BARRON’S 2022 Climate Change Leadership Industry Leader (Top 10%) Top 10 Most Sustainable REITs DJSI World & North America Listed
Slide 45: Reconciliations & Supplemental Information
COMPANY RECENT PORTFOLIO GROWTH CORPORATE RECONCILIATIONS & OVERVIEW HIGHLIGHTS UPDATE OPPORTUNITIES RESPONSIBILITY SUPPLEMENTAL INFO Reconciliations & Supplemental Information SAN FRANCISCO MARRIOTT MARQUIS
Slide 46: 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-1 • Defined Terms A-1 • Non-GAAP Financial Measures A-1 • Items that may Affect Forecast Results, Projections an
Slide 47: 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 48: 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 49: 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 50: 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 51: 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 E
Slide 52: Key Terms And Statistics
COMPANY RECENT PORTFOLIO GROWTH CORPORATE RECONCILIATIONS & OVERVIEW HIGHLIGHTS UPDATE OPPORTUNITIES RESPONSIBILITY SUPPLEMENTAL INFO Key Terms And Statistics All Owned Hotel Operating Statistics and Results To facilitate a quarter-to-quarter comparison of our operations, we typically present certai
Slide 53: Key Terms And Statistics
COMPANY RECENT PORTFOLIO GROWTH CORPORATE RECONCILIATIONS & OVERVIEW HIGHLIGHTS UPDATE OPPORTUNITIES RESPONSIBILITY SUPPLEMENTAL INFO Key Terms And Statistics The following hotels are expected to be excluded from the comparable hotel set for the year ended December 31, 2023, due to closure of the pr
Slide 54: Key Terms And Statistics
COMPANY RECENT PORTFOLIO GROWTH CORPORATE RECONCILIATIONS & OVERVIEW HIGHLIGHTS UPDATE OPPORTUNITIES RESPONSIBILITY SUPPLEMENTAL INFO Key Terms And Statistics Credit Facility – Leverage Ratio Host’s credit facility contains certain financial covenants, including allowable leverage, which is determin
Slide 55: Key Terms And Statistics
COMPANY RECENT PORTFOLIO GROWTH CORPORATE RECONCILIATIONS & OVERVIEW HIGHLIGHTS UPDATE OPPORTUNITIES RESPONSIBILITY SUPPLEMENTAL INFO Key Terms And Statistics Items that may Affect Forecast Results, Projections and Other Estimates Certain items included in this investor presentation such as forecast
Slide 56: 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 The following tables present the calculation of Host’s leverage ratio using GAAP measures and
Slide 57: 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 (loss) to EBITDA, EBITDAre, Adjust
Slide 58: Schedule of All Owned Hotel Results
COMPANY RECENT PORTFOLIO GROWTH CORPORATE RECONCILIATIONS & OVERVIEW HIGHLIGHTS UPDATE OPPORTUNITIES RESPONSIBILITY SUPPLEMENTAL INFO Schedule of All Owned Hotel Results The following table reconciles the fourth quarter and full year of 2022 and 2019 GAAP results to All Owned Hotel EBITDA Result(1)
Slide 59: Schedule of All Owned Hotel Results
COMPANY RECENT PORTFOLIO GROWTH CORPORATE RECONCILIATIONS & OVERVIEW HIGHLIGHTS UPDATE OPPORTUNITIES RESPONSIBILITY SUPPLEMENTAL INFO Schedule of All Owned Hotel Results Quarter ended December 31, 2022 Quarter ended December 31, 2019 Adjustments Adjustments Depreciation Depreciation All Owned and Al
Slide 60: Schedule of All Owned Hotel Results
COMPANY RECENT PORTFOLIO GROWTH CORPORATE RECONCILIATIONS & OVERVIEW HIGHLIGHTS UPDATE OPPORTUNITIES RESPONSIBILITY SUPPLEMENTAL INFO Schedule of All Owned Hotel Results The following table reconciles Net Income (Loss) to All Owned Hotel EBITDA (in millions): Year ended December 31, 2019 December 31
Slide 61: Reconciliation of Targeted 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 Targeted Net Income (Loss) to Hotel EBITDA for Renovation and Development Projects The following reconciles Hotel Net Income to Hotel-level EBITDA f
Slide 62: Schedule of All Owned Hotel Results for 2022 and 2017
COMPANY RECENT PORTFOLIO GROWTH CORPORATE RECONCILIATIONS & OVERVIEW HIGHLIGHTS UPDATE OPPORTUNITIES RESPONSIBILITY SUPPLEMENTAL INFO Schedule of All Owned Hotel Results for 2022 and 2017 Year ended December 31, 2022 2017 December 31, 2022 Portfolio December 31, 2017 Portfolio Number of hotels 78 94
Slide 63: Schedule of All Owned Hotel Results for 2022 and 2017
COMPANY RECENT PORTFOLIO GROWTH CORPORATE RECONCILIATIONS & OVERVIEW HIGHLIGHTS UPDATE OPPORTUNITIES RESPONSIBILITY SUPPLEMENTAL INFO Schedule of All Owned Hotel Results for 2022 and 2017 The following tables present the calculations of per key amounts for the full Host portfolio: 2022 2022 December
Slide 64: Total Shareholder Returns at December 31, 2022 for Other Full-Service Lodging REITs
COMPANY RECENT PORTFOLIO GROWTH CORPORATE RECONCILIATIONS & OVERVIEW HIGHLIGHTS UPDATE OPPORTUNITIES RESPONSIBILITY SUPPLEMENTAL INFO Total Shareholder Returns at December 31, 2022 for Other Full-Service Lodging REITs The following table presents the Total Shareholder Returns compared to other Full-
Slide 65: Schedule of Net Income to All Owned Hotel EBITDA for 2022 by Geographic Location
COMPANY RECENT PORTFOLIO GROWTH CORPORATE RECONCILIATIONS & OVERVIEW HIGHLIGHTS UPDATE OPPORTUNITIES RESPONSIBILITY SUPPLEMENTAL INFO Schedule of Net Income to All Owned Hotel EBITDA for 2022 by Geographic Location The following table reconciles net income to All Owned Hotel EBITDA for 2022 by geogr
Slide 66: Acquisitions & Dispositions Metrics
COMPANY RECENT PORTFOLIO GROWTH CORPORATE RECONCILIATIONS & OVERVIEW HIGHLIGHTS UPDATE OPPORTUNITIES RESPONSIBILITY SUPPLEMENTAL INFO Acquisitions & Dispositions Metrics The following table reconciles net income to Hotel EBITDA for the 2021-2022 hotel acquisitions, as well as the per key amounts (in
Slide 67: 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 2018-2022 acquisitions and dispositions (in millions, except for
Slide 68: Reconciliation of Net Income to EBITDA, EBITDAre and Adjusted EBITDAre for 2023 Forecasts
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 69: Schedule of Comparable Hotel Results for Full Year 2023 Forecasts
COMPANY RECENT PORTFOLIO GROWTH CORPORATE RECONCILIATIONS & OVERVIEW HIGHLIGHTS UPDATE OPPORTUNITIES RESPONSIBILITY SUPPLEMENTAL INFO Schedule of Comparable Hotel Results for Full Year 2023 Forecasts Full Year 2023(1) Low-end of range Mid-point of range High-end of range Operating profit margin⁽³⁾ 1
Slide 70: Schedule of Comparable Hotel Results for Full Year 2023 Forecasts
COMPANY RECENT PORTFOLIO GROWTH CORPORATE RECONCILIATIONS & OVERVIEW HIGHLIGHTS UPDATE OPPORTUNITIES RESPONSIBILITY SUPPLEMENTAL INFO Schedule of Comparable Hotel Results for Full Year 2023 Forecasts Low-end of range Mid-point of range High-end of range Adjustments Adjustments Adjustments Non- Depre
Slide 71: Schedule of Comparable Hotel Results for Full Year 2023 Forecasts
COMPANY RECENT PORTFOLIO GROWTH CORPORATE RECONCILIATIONS & OVERVIEW HIGHLIGHTS UPDATE OPPORTUNITIES RESPONSIBILITY SUPPLEMENTAL INFO Schedule of Comparable Hotel Results for Full Year 2023 Forecasts The following table reconciles the year ended December 31, 2019 GAAP results to Comparable Hotel res
Host Hotels & Resorts — Investor Presentation (February 2023) on 6ix