Host Hotels & Resorts, Inc. · NASDAQ:HST
Host Hotels & Resorts — Investor Presentation (May 2024)
73 slides from Host Hotels & Resorts's investor presentation, May 2024
Slide 1: Investor Presentation
Investor Presentation MAY 2024 1 HOTEL NASHVILLE AND EMBASSY SUITES BY HILTON NASHVILLE DOWNTOWN
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 19 PORTFOLIO UPDATE 24 GROWTH OPPORTUNITIES 38 CORPORATE RESPONSIBILITY 47 RECONCILIATIONS & SUPPLEMENTAL IN
Slide 4: Company Overview
COMPANY RECENT PORTFOLIO GROWTH CORPORATE RECONCILIATIONS & OVERVIEW HIGHLIGHTS UPDATE OPPORTUNITIES RESPONSIBILITY SUPPLEMENTAL INFO Company Overview FAIRMONT KEA LANI, MAUI
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 $14.8B $18.2B 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 the portfolio and accretively recycle as
Slide 7: Key Highlights – Q1 2024
COMPANY RECENT PORTFOLIO GROWTH CORPORATE RECONCILIATIONS & OVERVIEW HIGHLIGHTS UPDATE OPPORTUNITIES RESPONSIBILITY SUPPLEMENTAL INFO Key Highlights – Q1 2024 +0.5% $483 31.2% TRevPAR MILLION MARGIN Comparable Hotel Total Adjusted EBITDAre(1), Comparable Hotel RevPAR compared to Q1 2023 +9% above Q1
Slide 8: 2024 Outlook
COMPANY RECENT PORTFOLIO GROWTH CORPORATE RECONCILIATIONS & OVERVIEW HIGHLIGHTS UPDATE OPPORTUNITIES RESPONSIBILITY SUPPLEMENTAL INFO 2024 Outlook OPERATIONAL OUTLOOK Subject to factors that may affect lodging demand Full Year 2024(1) Low High vs. 2023 Midpoint(1) vs. 2023 Comparable Hotel Total Rev
Slide 9: 2024 Outlook – Adjusted EBITDAre Bridge
COMPANY RECENT PORTFOLIO GROWTH CORPORATE RECONCILIATIONS & OVERVIEW HIGHLIGHTS UPDATE OPPORTUNITIES RESPONSIBILITY SUPPLEMENTAL INFO 2024 Outlook – Adjusted EBITDAre Bridge The bridge below illustrates the moving pieces between the prior and current 2024E Adjusted EBITDAre guidance midpoints. Adjus
Slide 10: 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 more than $2 b
Slide 11: 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 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(2) UNENC
Slide 13: Recent Highlights
COMPANY RECENT PORTFOLIO GROWTH CORPORATE RECONCILIATIONS & OVERVIEW HIGHLIGHTS UPDATE OPPORTUNITIES RESPONSIBILITY SUPPLEMENTAL INFO Recent Highlights 1 HOTEL NASHVILLE
Slide 14: 1 Hotel Nashville and Embassy Suites by Hilton Nashville Downtown
COMPANY RECENT PORTFOLIO GROWTH CORPORATE RECONCILIATIONS & OVERVIEW HIGHLIGHTS UPDATE OPPORTUNITIES RESPONSIBILITY SUPPLEMENTAL INFO 1 Hotel Nashville and Embassy Suites by Hilton Nashville Downtown ACQUISITION RATIONALE ► Strong 2024E EBITDA multiple of 12.6x with targeted stabilized EBITDA multip
Slide 15: 1 Hotel Nashville and Embassy Suites by Hilton Nashville Downtown
COMPANY RECENT PORTFOLIO GROWTH CORPORATE RECONCILIATIONS & OVERVIEW HIGHLIGHTS UPDATE OPPORTUNITIES RESPONSIBILITY SUPPLEMENTAL INFO 1 Hotel Nashville and Embassy Suites by Hilton Nashville Downtown Property Overview Property Features Capex Requirements ► 721 keys total with 75% suite mix ► 33,000
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: 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 $1.2B ► Total dividends paid since re-introducing the $208M ► Since 2022, 13.1 mill
Slide 19: Portfolio Update
COMPANY RECENT PORTFOLIO GROWTH CORPORATE RECONCILIATIONS & OVERVIEW HIGHLIGHTS UPDATE OPPORTUNITIES RESPONSIBILITY SUPPLEMENTAL INFO Portfolio Update HYATT REGENCY COCONUT POINT RESORT AND SPA
Slide 20: Uneven Quarterly Topline Growth
COMPANY RECENT PORTFOLIO GROWTH CORPORATE RECONCILIATIONS & OVERVIEW HIGHLIGHTS UPDATE OPPORTUNITIES RESPONSIBILITY SUPPLEMENTAL INFO Uneven Quarterly Topline Growth Tough comparisons and unseasonable weather muted topline growth in Q1 2024. Quarterly comparisons are expected to ease sequentially an
Slide 21: Continued Strength in Group Business
COMPANY RECENT PORTFOLIO GROWTH CORPORATE RECONCILIATIONS & OVERVIEW HIGHLIGHTS UPDATE OPPORTUNITIES RESPONSIBILITY SUPPLEMENTAL INFO Continued Strength in Group Business Q1 2024 +4% Group room RevPAR increase over Q1 2023 driven by an increase in both room nights and ADR Highlights Group business c
Slide 22: Stabilizing Transient Demand
COMPANY RECENT PORTFOLIO GROWTH CORPORATE RECONCILIATIONS & OVERVIEW HIGHLIGHTS UPDATE OPPORTUNITIES RESPONSIBILITY SUPPLEMENTAL INFO Stabilizing Transient Demand BUSINESS TRANSIENT +5% Overall Transient Overall transient RevPAR decreased (6)% Increase in Business Transient revenue in Q1 2024 in Q1
Slide 23: 2024 Outlook - Margin Performance
COMPANY RECENT PORTFOLIO GROWTH CORPORATE RECONCILIATIONS & OVERVIEW HIGHLIGHTS UPDATE OPPORTUNITIES RESPONSIBILITY SUPPLEMENTAL INFO 2024 Outlook - Margin Performance In 2023, Comparable Hotel EBITDA margin was 60 basis points above 2019 due in part to our efforts to redefine the operating MARGIN-E
Slide 24: Growth Opportunities
COMPANY RECENT PORTFOLIO GROWTH CORPORATE RECONCILIATIONS & OVERVIEW HIGHLIGHTS UPDATE OPPORTUNITIES RESPONSIBILITY SUPPLEMENTAL INFO Growth Opportunities THE WESTIN GEORGETOWN, WASHINGTON D.C.
Slide 25: 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 26: 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 2020-2023 with the goal of increasing our RevPAR index share and elevating the EBITDA
Slide 27: 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 28: 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 29: MTCP CapEx Case Study: JW Marriott Houston by the Galleria
COMPANY RECENT PORTFOLIO GROWTH CORPORATE RECONCILIATIONS & OVERVIEW HIGHLIGHTS UPDATE OPPORTUNITIES RESPONSIBILITY SUPPLEMENTAL INFO MTCP CapEx Case Study JW MARRIOTT HOUSTON BY THE GALLERIA Authentic and inspiring, the completely renovated JW Marriott Houston by The Galleria is an oasis of refined
Slide 30: MTCP CapEx Case Study
COMPANY RECENT PORTFOLIO GROWTH CORPORATE RECONCILIATIONS & OVERVIEW HIGHLIGHTS UPDATE OPPORTUNITIES RESPONSIBILITY SUPPLEMENTAL INFO MTCP CapEx Case Study JW MARRIOTT HOUSTON BY THE GALLERIA GOAL Underwriting target: 3-5 points of RevPAR index share gain(1) compared to the three-year RevPAR index a
Slide 31: MTCP CapEx Case Study: San Francisco Marriott Marquis
COMPANY RECENT PORTFOLIO GROWTH CORPORATE RECONCILIATIONS & OVERVIEW HIGHLIGHTS UPDATE OPPORTUNITIES RESPONSIBILITY SUPPLEMENTAL INFO MTCP CapEx Case Study SAN FRANCISCO MARRIOTT MARQUIS Offering modern amenities, exceptional service, and an unparalleled location in San Francisco’s SoMa district, th
Slide 32: MTCP CapEx Case Study
COMPANY RECENT PORTFOLIO GROWTH CORPORATE RECONCILIATIONS & OVERVIEW HIGHLIGHTS UPDATE OPPORTUNITIES RESPONSIBILITY SUPPLEMENTAL INFO MTCP CapEx Case Study SAN FRANCISCO MARRIOTT MARQUIS GOAL Underwriting target: 3-5 points of RevPAR index share gain(1) compared to the three-year RevPAR index averag
Slide 33: Comprehensive Renovation, ROI Development and Enhanced Resiliency Case Study
COMPANY RECENT PORTFOLIO GROWTH CORPORATE RECONCILIATIONS & OVERVIEW HIGHLIGHTS UPDATE OPPORTUNITIES RESPONSIBILITY SUPPLEMENTAL INFO Comprehensive Renovation, ROI Development and Enhanced Resiliency Case Study THE RITZ-CARLTON, NAPLES This evolution of an icon delights guests with signature experie
Slide 34: Comprehensive Renovation Case Study
COMPANY RECENT PORTFOLIO GROWTH CORPORATE RECONCILIATIONS & OVERVIEW HIGHLIGHTS UPDATE OPPORTUNITIES RESPONSIBILITY SUPPLEMENTAL INFO Comprehensive Renovation Case Study THE RITZ-CARLTON, NAPLES GOALS Underwriting target: 3-5 points of RevPAR index share gain(1) compared to the three-year RevPAR ind
Slide 35: ROI Development & Resiliency Case Study
COMPANY RECENT PORTFOLIO GROWTH CORPORATE RECONCILIATIONS & OVERVIEW HIGHLIGHTS UPDATE OPPORTUNITIES RESPONSIBILITY SUPPLEMENTAL INFO ROI Development & Resiliency Case Study THE RITZ-CARLTON, NAPLES GOAL ► Vanderbilt Tower development underwriting target: low-to- mid teens cash-on-cash return ► Resi
Slide 36: Path Toward $2 Billion – Potential EBITDA Growth
COMPANY RECENT PORTFOLIO GROWTH CORPORATE RECONCILIATIONS & OVERVIEW HIGHLIGHTS UPDATE OPPORTUNITIES RESPONSIBILITY SUPPLEMENTAL INFO Path Toward $2 Billion – Potential EBITDA Growth Our goal is to meaningfully grow our EBITDA throughout the current lodging cycle through multiple internal and extern
Slide 37: Path Toward $2 Billion – Potential EBITDA Growth Assumptions
COMPANY RECENT PORTFOLIO GROWTH CORPORATE RECONCILIATIONS & OVERVIEW HIGHLIGHTS UPDATE OPPORTUNITIES RESPONSIBILITY SUPPLEMENTAL INFO Path Toward $2 Billion – Potential EBITDA Growth Assumptions Let’s assume our 2023 Adjusted EBITDAre as a starting point(1)… OPERATIONS ► Occupancy increase of approx
Slide 38: Corporate Responsibility
COMPANY RECENT PORTFOLIO GROWTH CORPORATE RECONCILIATIONS & OVERVIEW HIGHLIGHTS UPDATE OPPORTUNITIES RESPONSIBILITY SUPPLEMENTAL INFO Corporate Responsibility ALILA VENTANA BIG SUR
Slide 39: 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 40: Our 2050 Net Positive Vision
COMPANY RECENT PORTFOLIO GROWTH CORPORATE RECONCILIATIONS & OVERVIEW HIGHLIGHTS UPDATE OPPORTUNITIES RESPONSIBILITY SUPPLEMENTAL INFO Our 2050 Net Positive Vision Host’s aspirational vision is to become a net positive company by 2050. Our next generation of interim environmental and social performan
Slide 41: Our Strategic CR Roadmap
COMPANY RECENT PORTFOLIO GROWTH CORPORATE RECONCILIATIONS & OVERVIEW HIGHLIGHTS UPDATE OPPORTUNITIES RESPONSIBILITY SUPPLEMENTAL INFO Our Strategic CR Roadmap To reflect the broader reach and influence of our Corporate Responsibility program—as well as further align our corporate and sustainability
Slide 42: 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 43: 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 44: 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 45: Commitment to Green Building Certifications
COMPANY RECENT PORTFOLIO GROWTH CORPORATE RECONCILIATIONS & OVERVIEW HIGHLIGHTS UPDATE OPPORTUNITIES RESPONSIBILITY SUPPLEMENTAL INFO Commitment to Green Building Certifications LEED® CERTIFICATIONS 17 PROPERTIES WITH LEED CERTIFICATION, INCLUDING 4 LEED GOLD HOTELS 19 LEED PROJECTS AT 18 PROPERTIES
Slide 46: Awards & Recognition
COMPANY RECENT PORTFOLIO GROWTH CORPORATE RECONCILIATIONS & OVERVIEW HIGHLIGHTS UPDATE OPPORTUNITIES RESPONSIBILITY SUPPLEMENTAL INFO Awards & Recognition ESG LEADERSHIP BARRON’S 2023 Climate Change Leadership Industry Leader (Top 10%) Top 10 Most Sustainable REITs DJSI World & North America Listed
Slide 47: Reconciliations & Supplemental Information
COMPANY RECENT PORTFOLIO GROWTH CORPORATE RECONCILIATIONS & OVERVIEW HIGHLIGHTS UPDATE OPPORTUNITIES RESPONSIBILITY SUPPLEMENTAL INFO Reconciliations & Supplemental Information THE SINGER OCEANFRONT RESORT, CURIO COLLECTION BY HILTON
Slide 48: 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 an
Slide 49: 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 50: 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 51: 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 52: 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 53: 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 54: 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 55: 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 56: 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 57: 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 58: 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 59: 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 60: 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 followi
Slide 61: 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 table reconciles diluted earnings per
Slide 62: Schedule of Comparable Hotel Results Using Q1 2024 Comparable Hotel Set
COMPANY RECENT PORTFOLIO GROWTH CORPORATE RECONCILIATIONS & OVERVIEW HIGHLIGHTS UPDATE OPPORTUNITIES RESPONSIBILITY SUPPLEMENTAL INFO Schedule of Comparable Hotel Results Using Q1 2024 Comparable Hotel Set The following table reconciles the first quarter 2024 and 2019 GAAP results to Comparable hote
Slide 63: Schedule of Comparable Hotel Results (cont.)
COMPANY RECENT PORTFOLIO GROWTH CORPORATE RECONCILIATIONS & OVERVIEW HIGHLIGHTS UPDATE OPPORTUNITIES RESPONSIBILITY SUPPLEMENTAL INFO Schedule of Comparable Hotel Results (cont.) The following table reconciles net income to Hotel-level EBITDA for an investment of approximately $250 million per year
Slide 64: 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 65: 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 66: Schedule of Net Income to Comparable Hotel EBITDA for 2023 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 2023 by Geographic Location The following table reconciles net income to Comparable Hotel EBITDA for 2023 by geo
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 2018-2024 acquisitions and dispositions (in millions, except for
Slide 68: Acquisitions & Dispositions Metrics
COMPANY RECENT PORTFOLIO GROWTH CORPORATE RECONCILIATIONS & OVERVIEW HIGHLIGHTS UPDATE OPPORTUNITIES RESPONSIBILITY SUPPLEMENTAL INFO Acquisitions & Dispositions Metrics Subsequent to quarter end, we acquired the 1 Hotel Nashville and Embassy Suites by Hilton Nashville Downtown. The following table
Slide 69: Reconciliation of Net Income to EBITDA, EBITDAre and Adjusted EBITDAre for Full Year 2024 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 70: Reconciliation of Net Income to EBITDA, EBITDAre and Adjusted EBITDAre for Full Year 2024 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 71: Schedule of Comparable Hotel Results for Full Year 2024 Forecast
COMPANY RECENT PORTFOLIO GROWTH CORPORATE RECONCILIATIONS & OVERVIEW HIGHLIGHTS UPDATE OPPORTUNITIES RESPONSIBILITY SUPPLEMENTAL INFO Schedule of Comparable Hotel Results for Full Year 2024 Forecast(1) The following table reconciles the Full Year 2024 Forecast GAAP results to Comparable hotel EBITDA
Slide 72: Schedule of Comparable Hotel Results for Full Year 2024 Forecast
COMPANY RECENT PORTFOLIO GROWTH CORPORATE RECONCILIATIONS & OVERVIEW HIGHLIGHTS UPDATE OPPORTUNITIES RESPONSIBILITY SUPPLEMENTAL INFO Schedule of Comparable Hotel Results for Full Year 2024 Forecast Low-end of range Mid-point of range High-end of range Adjustments Adjustments Adjustments Non- Non- N
Slide 73: Schedule of Comparable Hotel Results
COMPANY RECENT PORTFOLIO GROWTH CORPORATE RECONCILIATIONS & OVERVIEW HIGHLIGHTS UPDATE OPPORTUNITIES RESPONSIBILITY SUPPLEMENTAL INFO Schedule of Comparable Hotel Results The following table reconciles the year ended December 31, 2023 and December 31, 2019 GAAP results to Comparable Hotel results us
Host Hotels & Resorts — Investor Presentation (May 2024) on 6ix