Host Hotels & Resorts, Inc. Reports Strong First Quarter 2022 Operating Results Surpassing 2019 Room Rates, as Lodging Recovery Accelerates; Announces Doubling of Quarterly Dividend to $0.06 Per Share

About this update from Host Hotels & Resorts, Inc.

[{"type":"text","content":"BETHESDA, Md., May 04, 2022 (GLOBE NEWSWIRE) -- Host Hotels & Resorts, Inc. (NASDAQ: HST) (the “Company”), the nation’s largest lodging real estate investment trust (“REIT”), today announced results for first quarter of 2022. OPERATING RESULTS(unaudited, in millions, except per share and hotel statistics) Quarter ended March 31, Percent Change Percent Change 2022 2021 vs. 2021 vs. 2019⁽²⁾ Revenues $1,074 $399 169.2% (22.7)%All owned hotel revenues (pro forma)⁽¹⁾ 1,052 431 144.1% (17.4)%All owned hotel (pro forma) Total RevPAR 275.55 113.55 142.7% (18.3)%All owned hotel (pro forma) RevPAR 166.93 72.27 131.0% (18.5)% Net income (loss) $118 $(153) EBITDAre⁽¹⁾ 306 5 Adjusted EBITDAre⁽¹⁾ 306 3 Diluted earnings (loss) per common share 0.16 (0.22) NAREIT FFO per diluted share⁽¹⁾ 0.39 0.01 Adjusted FFO per diluted share⁽¹⁾ 0.39 0.01 * Additional detail on the Company’s results, including data for 22 domestic markets, is available in the First Quarter 2022 Supplemental Financial Information available on the Company’s website at www.hosthotels.com. James F. Risoleo, President and Chief Executive Officer, said, “We ended the first quarter on a high note, as we continued to see strong operational improvements across our portfolio. RevPAR was $167 during the first quarter representing an 11% increase over the prior quarter, and the highest quarterly RevPAR we have seen in the recovery. We saw meaningful improvements within the quarter in transient and group business segments, driven by both demand and significant rate growth.” Risoleo continued, “In addition, subsequent to quarter end, we sold two hotels, bringing our total dispositions to $1.4 billion since the beginning of 2021. These sales represent another important step in the transformation of our portfolio as we continue to elevate our EBITDA growth profile.\" __________________________________(1) NAREIT Funds From Operations (“FFO”) per diluted share, Adjusted FFO per diluted share, EBITDAre, Adjusted EBITDAre and all owned hotel results (pro forma) are non-GAAP (U.S. generally accepted accounting principles) financial measures within the meaning of the rules of the Securities and Exchange Commission (“SEC”). The pro forma all owned hotel results exclude the operations of hotels sold or held-for sale as of March 31, 2022. Held-for-sale properties at March 31, 2022 included the Sherat...

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