Host Hotels & Resorts, Inc. · NASDAQ:HST
Host Hotels & Resorts — Investor Presentation (August 2026)
67 slides from Host Hotels & Resorts's investor presentation, August 2026
Slide 1: Investor Presentation
Investor Presentation AUGUST 2026 1 HOTEL SOUTH BEACH
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 12 RECENT HIGHLIGHTS 17 PORTFOLIO UPDATE 21 GROWTH OPPORTUNITIES 32 CORPORATE RESPONSIBILITY 41 RECONCILIATIONS & SUPPLEMENTAL IN
Slide 4: Company Overview
COMPANY RECENT PORTFOLIO GROWTH CORPORATE RECONCILIATIONS & OVERVIEW HIGHLIGHTS UPDATE OPPORTUNITIES RESPONSIBILITY SUPPLEMENTAL INFO Company Overview THE DON CESAR
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 $16.5B $20.0B 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 2025 despite proactively accelerating capex invest
Slide 8: Key Highlights – Q2 2026
COMPANY RECENT PORTFOLIO GROWTH CORPORATE RECONCILIATIONS & OVERVIEW HIGHLIGHTS UPDATE OPPORTUNITIES RESPONSIBILITY SUPPLEMENTAL INFO Key Highlights – Q2 2026 +5.9% $525 31.9% TRevPAR MILLION MARGIN Comparable Hotel Total Adjusted EBITDAre, Comparable Hotel EBITDA margin RevPAR compared to Q2 2025,
Slide 9: 2026 Outlook
COMPANY RECENT PORTFOLIO GROWTH CORPORATE RECONCILIATIONS & OVERVIEW HIGHLIGHTS UPDATE OPPORTUNITIES RESPONSIBILITY SUPPLEMENTAL INFO 2026 Outlook OPERATIONAL OUTLOOK Subject to factors that may affect lodging demand Full Year 2026(1) Low High vs. 2025 Midpoint(1) vs. 2025 Comparable Hotel Total Rev
Slide 10: Investment Thesis
COMPANY RECENT PORTFOLIO GROWTH CORPORATE RECONCILIATIONS & OVERVIEW HIGHLIGHTS UPDATE OPPORTUNITIES RESPONSIBILITY SUPPLEMENTAL INFO Investment Thesis Capital Allocation Track Record Strong Balance Sheet Accretive capital recycling since current management team began ► Only investment grade rating
Slide 11: 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 12: Recent Highlights
COMPANY RECENT PORTFOLIO GROWTH CORPORATE RECONCILIATIONS & OVERVIEW HIGHLIGHTS UPDATE OPPORTUNITIES RESPONSIBILITY SUPPLEMENTAL INFO Recent Highlights BAKER’S CAY RESORT KEY LARGO, CURIO COLLECTION BY HILTON
Slide 13: Capital Allocation Highlights
COMPANY RECENT PORTFOLIO GROWTH CORPORATE RECONCILIATIONS & OVERVIEW HIGHLIGHTS UPDATE OPPORTUNITIES RESPONSIBILITY SUPPLEMENTAL INFO Capital Allocation Highlights CAPITAL RETURN TO STOCKHOLDERS DIVIDEND SHARE REPURCHASE $3.1B ► Total dividends paid through July 2026 since re- $1.2B ► Since 2017, 73
Slide 14: 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 15: 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 16: Marriott Transformational Capital Program 2 Overview
COMPANY RECENT PORTFOLIO GROWTH CORPORATE RECONCILIATIONS & OVERVIEW HIGHLIGHTS UPDATE OPPORTUNITIES RESPONSIBILITY SUPPLEMENTAL INFO Marriott Transformational Capital Program 2 Overview WHAT Following the success of stabilized comprehensive renovations, Host has reached a second agreement with Marr
Slide 17: Portfolio Update
COMPANY RECENT PORTFOLIO GROWTH CORPORATE RECONCILIATIONS & OVERVIEW HIGHLIGHTS UPDATE OPPORTUNITIES RESPONSIBILITY SUPPLEMENTAL INFO Portfolio Update MIAMI MARRIOTT BISCAYNE BAY
Slide 18: 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 Year-to-date, RevPAR outpaced Total RevPAR growth as a result of outsized rate growth in the second quarter. Year-to-date room re
Slide 19: Continued Strength in Group Business
COMPANY RECENT PORTFOLIO GROWTH CORPORATE RECONCILIATIONS & OVERVIEW HIGHLIGHTS UPDATE OPPORTUNITIES RESPONSIBILITY SUPPLEMENTAL INFO Continued Strength in Group Business Q2 2026 +7% Group room revenue increase over Q2 2025 driven fairly evenly by group rate growth and group Highlights room nights s
Slide 20: Strong Transient Demand
COMPANY RECENT PORTFOLIO GROWTH CORPORATE RECONCILIATIONS & OVERVIEW HIGHLIGHTS UPDATE OPPORTUNITIES RESPONSIBILITY SUPPLEMENTAL INFO Strong Transient Demand BUSINESS TRANSIENT +4% Overall Transient Overall transient revenue increased +7% Increase in business transient revenue in Q2 2026 compared to
Slide 21: Growth Opportunities
COMPANY RECENT PORTFOLIO GROWTH CORPORATE RECONCILIATIONS & OVERVIEW HIGHLIGHTS UPDATE OPPORTUNITIES RESPONSIBILITY SUPPLEMENTAL INFO Growth Opportunities THE RITZ-CARLTON, NAPLES
Slide 22: 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 23: 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 24: 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 2021-2025 with the goal of increasing our RevPAR index share and elevating the EBITDA
Slide 25: Repositioning Renovation CapEx Case Study: The Singer
COMPANY RECENT PORTFOLIO GROWTH CORPORATE RECONCILIATIONS & OVERVIEW HIGHLIGHTS UPDATE OPPORTUNITIES RESPONSIBILITY SUPPLEMENTAL INFO Repositioning Renovation CapEx Case Study THE SINGER OCEANFRONT RESORT, CURIO COLLECTION BY HILTON A reimagined beachfront lifestyle resort, The Singer is a modern se
Slide 26: Repositioning CapEx Case Study
COMPANY RECENT PORTFOLIO GROWTH CORPORATE RECONCILIATIONS & OVERVIEW HIGHLIGHTS UPDATE OPPORTUNITIES RESPONSIBILITY SUPPLEMENTAL INFO Repositioning CapEx Case Study THE SINGER OCEANFRONT RESORT GOAL Generate a double-digit cash-on-cash return through a tailored renovation to a lifestyle resort, incl
Slide 27: ROI Development Case Study: The Phoenician
COMPANY RECENT PORTFOLIO GROWTH CORPORATE RECONCILIATIONS & OVERVIEW HIGHLIGHTS UPDATE OPPORTUNITIES RESPONSIBILITY SUPPLEMENTAL INFO ROI Development Case Study THE PHOENICIAN, A LUXURY COLLECTION RESORT Nestled in the foothills of majestic Camelback Mountain, The Villas at Canyon Suites exemplify u
Slide 28: ROI Development Case Study
COMPANY RECENT PORTFOLIO GROWTH CORPORATE RECONCILIATIONS & OVERVIEW HIGHLIGHTS UPDATE OPPORTUNITIES RESPONSIBILITY SUPPLEMENTAL INFO ROI Development Case Study THE PHOENICIAN, A LUXURY COLLECTION RESORT GOAL ► Generate a double-digit cash-on-cash return on vacant land adjacent to the Canyon Suites,
Slide 29: Comprehensive Renovation CapEx Case Study: Fairmont Kea Lani
COMPANY RECENT PORTFOLIO GROWTH CORPORATE RECONCILIATIONS & OVERVIEW HIGHLIGHTS UPDATE OPPORTUNITIES RESPONSIBILITY SUPPLEMENTAL INFO Comprehensive Renovation CapEx Case Study FAIRMONT KEA LANI, MAUI This tropical paradise redefines luxury with Hawaii’s only all-suite and villa oceanfront resort whi
Slide 30: Comprehensive Renovation Case Study
COMPANY RECENT PORTFOLIO GROWTH CORPORATE RECONCILIATIONS & OVERVIEW HIGHLIGHTS UPDATE OPPORTUNITIES RESPONSIBILITY SUPPLEMENTAL INFO Comprehensive Renovation Case Study FAIRMONT KEA LANI, MAUI GOAL Renovation underwriting target: 3-5 points of RevPAR index share gain(1) compared to the three-year R
Slide 31: Resiliency Program Case Studies
COMPANY RECENT PORTFOLIO GROWTH CORPORATE RECONCILIATIONS & OVERVIEW HIGHLIGHTS UPDATE OPPORTUNITIES RESPONSIBILITY SUPPLEMENTAL INFO Resiliency Program Case Studies RECENT RESILIENCY THE DON CESAR RESILIENCY ENHANCEMENTS INVESTMENT FOCUS Mitigate Severe Reconstruction following Hurricanes Helene an
Slide 32: 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 33: 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 34: 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. This vision is underpinned by five
Slide 35: 2030 Targets
COMPANY RECENT PORTFOLIO GROWTH CORPORATE RECONCILIATIONS & OVERVIEW HIGHLIGHTS UPDATE OPPORTUNITIES RESPONSIBILITY SUPPLEMENTAL INFO 2030 Targets Host’s 2030 targets serve as the interim milestone in our roadmap toward our net positive vision. © Host Hotels & Resorts, Inc. 35
Slide 36: 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 37: Culture | Impactful Social Responsibility Initiatives
COMPANY RECENT PORTFOLIO GROWTH CORPORATE RECONCILIATIONS & OVERVIEW HIGHLIGHTS UPDATE OPPORTUNITIES RESPONSIBILITY SUPPLEMENTAL INFO Culture | Impactful Social Responsibility Initiatives We are committed to advancing health, well-being and opportunity for all Host stakeholders, including investors,
Slide 38: Environmental Stewardship | Green Building
COMPANY RECENT PORTFOLIO GROWTH CORPORATE RECONCILIATIONS & OVERVIEW HIGHLIGHTS UPDATE OPPORTUNITIES RESPONSIBILITY SUPPLEMENTAL INFO Environmental Stewardship | Green Building LEED® HIGHLIGHTS* 36% OF PROPERTIES WITH LEED CERTIFICATIONS 9.5M SQUARE FEET OF LEED-CERTIFIED SPACE 27 PROPERTIES WITH LE
Slide 39: 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 40: ESG Leadership & Recognition
COMPANY RECENT PORTFOLIO GROWTH CORPORATE RECONCILIATIONS & OVERVIEW HIGHLIGHTS UPDATE OPPORTUNITIES RESPONSIBILITY SUPPLEMENTAL INFO ESG Leadership & Recognition Large Cap REITs 2026 Leader in the Light® Dow Jones Best-in-Class World Award for Operations and North America Indices Prime Corporate Ra
Slide 41: Reconciliations & Supplemental Information
COMPANY RECENT PORTFOLIO GROWTH CORPORATE RECONCILIATIONS & OVERVIEW HIGHLIGHTS UPDATE OPPORTUNITIES RESPONSIBILITY SUPPLEMENTAL INFO Reconciliations & Supplemental Information HYATT REGENCY WASHINGTON ON CAPITOL HILL
Slide 42: 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 43: 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 44: 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 45: Key Terms And Statistics
COMPANY RECENT PORTFOLIO GROWTH CORPORATE RECONCILIATIONS & OVERVIEW HIGHLIGHTS UPDATE OPPORTUNITIES RESPONSIBILITY SUPPLEMENTAL INFO Key Terms And Statistics • Acquisition Costs – Under GAAP, costs associated with completed property acquisitions that are considered business combinations are expense
Slide 46: 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 47: 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 48: 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 49: 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 50: 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 51: Key Terms And Statistics: Forecasts
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 52: 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 our le
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) 2. The following presents the reconciliation of net in
Slide 54: 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 The following tables reconci
Slide 55: Reconciliation of Diluted Earnings per 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 tables reconcile net income to EBITDA
Slide 56: Schedule of Comparable Hotel Results Using 2026 Comparable Hotel Set
COMPANY RECENT PORTFOLIO GROWTH CORPORATE RECONCILIATIONS & OVERVIEW HIGHLIGHTS UPDATE OPPORTUNITIES RESPONSIBILITY SUPPLEMENTAL INFO Schedule of Comparable Hotel Results Using 2026 Comparable Hotel Set The following table reconciles the second quarter 2026 and 2025 GAAP results to Comparable hotel
Slide 57: Schedule of Comparable Hotel Results Using 2026 Comparable Hotel Set (cont.)
COMPANY RECENT PORTFOLIO GROWTH CORPORATE RECONCILIATIONS & OVERVIEW HIGHLIGHTS UPDATE OPPORTUNITIES RESPONSIBILITY SUPPLEMENTAL INFO Schedule of Comparable Hotel Results Using 2026 Comparable Hotel Set (cont.) Quarter ended June 30, 2026 Quarter ended June 30, 2025 Adjustments Adjustments Non- Non-
Slide 58: Full-Service Lodging REITs Comparisons
COMPANY RECENT PORTFOLIO GROWTH CORPORATE RECONCILIATIONS & OVERVIEW HIGHLIGHTS UPDATE OPPORTUNITIES RESPONSIBILITY SUPPLEMENTAL INFO Full-Service Lodging REITs Comparisons TOTAL SHAREHOLDER RETURNS AND OTHER CORPORATE METRICS Lodging REITs in the other full-service lodging REIT group are based on t
Slide 59: Full-Service Lodging REITs Comparisons
COMPANY RECENT PORTFOLIO GROWTH CORPORATE RECONCILIATIONS & OVERVIEW HIGHLIGHTS UPDATE OPPORTUNITIES RESPONSIBILITY SUPPLEMENTAL INFO Full-Service Lodging REITs Comparisons FREE CASH FLOW AS % OF TOTAL REVENUE The following tables reconcile Free Cash Flow, which is calculated as Net cash provided by
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 FREE CASH FLOW AS % OF TOTAL REVENUE The following table reconciles Free Cash Flow, which is calculated as Net cash provided by
Slide 61: Schedule of Net Income to Comparable Hotel EBITDA for 2025 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 2025 by Geographic Location The following table reconciles net income to Comparable Hotel EBITDA for 2025 by geo
Slide 62: 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 2018-2026 acquisitions and dispositions (in millions, except for
Slide 63: Reconciliation of Net Income to EBITDA, EBITDAre and Adjusted EBITDAre for Full Year 2026 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 64: Reconciliation of Net Income to EBITDA, EBITDAre and Adjusted EBITDAre for Full Year 2026 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 65: Schedule of Comparable Hotel Results for Full Year 2026 Forecast
COMPANY RECENT PORTFOLIO GROWTH CORPORATE RECONCILIATIONS & OVERVIEW HIGHLIGHTS UPDATE OPPORTUNITIES RESPONSIBILITY SUPPLEMENTAL INFO Schedule of Comparable Hotel Results for Full Year 2026 Forecast(1) The following table reconciles the Full Year 2026 Forecast GAAP results to Comparable hotel EBITDA
Slide 66: Schedule of Comparable Hotel Results for Full Year 2026 Forecast
COMPANY RECENT PORTFOLIO GROWTH CORPORATE RECONCILIATIONS & OVERVIEW HIGHLIGHTS UPDATE OPPORTUNITIES RESPONSIBILITY SUPPLEMENTAL INFO Schedule of Comparable Hotel Results for Full Year 2026 Forecast Low-end of range Mid-point of range High-end of range Adjustments Adjustments Adjustments Non- Non- N
Slide 67: Schedule of Comparable Hotel Results using 2026 Comparable Hotel Set
COMPANY RECENT PORTFOLIO GROWTH CORPORATE RECONCILIATIONS & OVERVIEW HIGHLIGHTS UPDATE OPPORTUNITIES RESPONSIBILITY SUPPLEMENTAL INFO Schedule of Comparable Hotel Results using 2026 Comparable Hotel Set The following table reconciles the year ended December 31, 2025 GAAP results to Comparable Hotel
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