Host Hotels & Resorts Reports Q3 2026 Results, Raises Full-Year RevPAR Guidance

Executive Summary

On November 4, 2026, Host Hotels & Resorts, Inc. (NASDAQ: HST) filed a Current Report on Form 8-K under Item 2.02 (Results of Operations and Financial Condition) disclosing its financial performance for the third quarter ended September 30, 2026. The company delivered solid operational performance, highlighted by an 8.8% year-over-year increase in Comparable Hotel RevPAR and an 11.4% rise in Adjusted FFO per diluted share. Bolstered by durable leisure travel, recovering business transient demand, and healthy group bookings, management raised its full-year 2026 guidance for Comparable Hotel RevPAR and Total RevPAR growth.

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Key Financial & Operational Results (Q3 2026 vs. Q3 2025)

• Revenues: Total revenues reached $1,347 million, up 1.2% compared to $1,331 million in Q3 2025. Comparable hotel revenues rose 7.4% to $1,312 million.
• RevPAR Metrics:
  • Comparable Hotel RevPAR: $219.50, up 8.8% (driven by a 5.7% increase in room rates and a 2.1 percentage point increase in occupancy).
  • Comparable Hotel Total RevPAR: $348.19, up 7.3%, supported by higher food and beverage spend.
• Profitability:
  • GAAP Net Income: $71 million ($0.10 per diluted share), down 56.4% YoY from $163 million ($0.23 per diluted share), primarily due to reduced gains on asset sales versus the prior-year period. GAAP operating profit margin expanded 140 basis points to 9.0%.
  • Comparable Hotel EBITDA: $331 million (+11.4% YoY); margin expanded 90 bps to 25.2%.
  • Adjusted EBITDAre: $347 million (+8.8% YoY from $319 million).
  • Adjusted FFO per Diluted Share: $0.39, up 11.4% from $0.35 in Q3 2025 (NAREIT FFO per diluted share rose 11.8% to $0.38).

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Guidance Update

Management raised its full-year 2026 operational growth targets beyond the top end of its prior guidance ranges:

• Full-Year Comparable Hotel RevPAR Growth: Expected to reach approximately 6.75% over 2025.
• Full-Year Comparable Hotel Total RevPAR Growth: Expected to reach approximately 6.0% over 2025.

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Strategic Acquisitions and Credit Facility Recast

Subsequent to the close of the third quarter, Host Hotels executed several strategic capital deployment initiatives:

1. 1 Hotel Brooklyn Bridge: Acquired the leasehold interest in the 195-room luxury hotel for $202 million (net of a $4 million FF&E reserve), expanding the company’s footprint into a high-demand New York submarket.
2. Renaissance Dallas at Plano Legacy West Hotel: Acquired the fee simple interest in the 308-room hotel for $172 million, establishing a presence in the growing Dallas/Fort Worth market.
3. Credit Facility Amendment: Recast its $2.5 billion senior credit facility, extending the maturity of the $1.5 billion revolver to January 2031 and term loan maturities to January 2031/2032 (with options extending all to January 2032). Pricing spreads were reduced by 12.5 bps on revolver draws and 15 bps on term loans, and the accordion feature was expanded to $1.25 billion.

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Balance Sheet & Liquidity

• Total Assets: $12.8 billion as of September 30, 2026.
• Debt: $5.1 billion outstanding with a weighted average interest rate of 4.8%. Following the credit facility recast, weighted average maturity extended from 4.4 years to 5.2 years, with no significant maturities until December 2028.
• Liquidity: Total available liquidity stood at approximately $3.1 billion at quarter-end. Pro forma for post-quarter acquisitions and common dividends, adjusted cash and cash equivalents totaled $991 million, with an undrawn $1.5 billion revolving credit line.