Host Hotels & Resorts Raises Full-Year Outlook Following Strong Third-Quarter Earnings
Host Hotels & Resorts (HST) reported robust third-quarter financial results, highlighted by a 7.3% increase in total revenue per available room (RevPAR) to $348.19 and an 11.4% rise in adjusted funds from operations (FFO) per share to $0.39. The growth was driven by strong transient demand, increased business travel, and higher group bookings. Encouraged by sustained leisure and group demand, the lodging REIT raised its full-year guidance for both RevPAR and adjusted FFO. The company is also actively managing its portfolio through strategic acquisitions of luxury properties in Brooklyn and Dallas, while divesting assets to reduce future capital expenditure requirements and transition toward a less capital-intensive business model.
Tickers: $HST
Topics: earnings report FFO financial performance hospitality REIT RevPAR