Host Hotels & Resorts, Inc. (HST) Q1 2026 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good morning, and welcome to the Host Hotels and Resorts First Quarter 2026 Earnings Conference Call. Today's conference is being recorded. At this time, I would like to turn the call over to Jamie Marcus, Senior Vice President of Investor Relations. Jamie, 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 on 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 gap 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. The operational results discussed today refer to our 74 hotel comparable hotel portfolio in 2026, which excludes the Don Cesar and Sheridan Parsippany. With me on today's call are Jim Rizzolio, President and Chief Executive Officer, and Saurav Ghosh, Executive Vice President and Chief Finance 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. Our first quarter results exceeded our expectations, representing a strong start to 2026. We delivered adjusted EBITDA RE of $543 million, an increase of 5.6% over last year, and adjusted FFO per share of 67 cents, an increase of 4.7% over las...