Host Hotels & Resorts, Inc. (HST) Q1 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good morning and welcome to the Host Hotels and Resorts First Quarter 2025 Earnings Conference Call. Today's call is being recorded. At this time, I would like to turn the call over to Jamie Marcus, Senior Vice President of Investor Relations. Please go ahead. Thank you and good morning, everyone. Before we begin, please note that many of the comments made today are considered to be forward-looking statements under federal securities laws. As described in our filings with the SEC, these statements are subject to numerous risks and uncertainties that could cause future results to differ from those expressed, and we are not obligated to publicly update or revise these forward-looking statements. In addition, on today's call, we will discuss certain non-GAAP financial information, such as FFO, adjusted EBITDA RE, and comparable hotel-level results. You can find this information together with reconciliations to the most directly comparable GAAP information in yesterday's earnings press release, in our 8K filed with the SEC, and in the supplemental financial information on our website at hosthotels.com. With me on today's call are Jim Rizzolio, President and Chief Executive Officer, and Saurav Ghosh, Executive Vice President and Chief Financial Officer. With that, I would like to turn the call over to Jim. Thank you, Jamie, and thanks to everyone for joining us this morning. In the first quarter, we delivered adjusted EBITDA RE of $514 million, an increase of 5.1% over last year, an adjusted FFO per share of 64 cents, an increase of 4.9% over last year. First quarter adjusted EBITDA RE and adjusted FFO per share benefited from $10 million of business interruption proceeds related to Hurricanes Helene and Milton, which is the same amount we recognized in the first quarter ...