Host Hotels & Resorts Q3 earnings call highlights. November 6, 2026 Key points. * Strong Q3 results prompted Host to raise its 2026 outlook: Adjusted EBITDAre rose 8.8% to $347 million, while adjusted FFO per share increased 11.4% to $0.39. The company lifted its EBITDAre guidance by $35 million to $1.865 billion and expects full-year comparable RevPAR growth of about 6.75%. * Travel demand strengthened across key segments: Comparable RevPAR grew 8.8%, with business transient revenue up 9% and group room revenue up 5%; Maui RevPAR increased nearly 14%. Host expects high-single-digit RevPAR growth in Q4 and cited improving business travel as a potential 2027 tailwind. * Host expanded its portfolio with two acquisitions totaling about $374 million: The purchases of 1 Hotel Brooklyn Bridge and Renaissance Dallas at Plano Legacy West are expected to contribute $6 million of EBITDA during Host's 2026 ownership period. * Interested in Host Hotels & Resorts? Here are five stocks we like better. Host Hotels & Resorts NASDAQ: HST raised its full-year 2026 outlook after third-quarter revenue and profit growth exceeded management's expectations, driven by stronger leisure, group and business travel demand. The hotel owner reported adjusted EBITDAre of $347 million for the quarter, up 8.8% from a year earlier. Adjusted funds from operations, or FFO, per share rose 11.4% to $0.39. Comparable hotel revenue per available room, or RevPAR, increased 8.8%, while total RevPAR rose 7.3%. Comparable hotel EBITDA margin expanded 90 basis points to 25.2%, as room-rate growth more than offset higher wage expense. President and CEO Jim Risoleo said 23 of the company's 24 domestic markets posted comparable RevPAR growth. Host estimates the World Cup contributed approximately 100 basis points to third-quarter RevPAR growth. Host raises full-year outlook. Host increased its 2026 adjusted EBITDAre guidance by $35 million to $1.865 billion. The company now expects comparable hotel RevPAR growth of approximately 6.75% and total RevPAR growth of about 6% for the year, compared with 2025. CFO Sourav Ghosh said roughly two-thirds of the guidance increase reflected third-quarter results, with the remainder attributable to improved fourth-quarter expectations. Host expects high-single-digit RevPAR growth in the fourth quarter, supported in part by estimated October growth of 6.5%. The company also expects a full-year comparable hotel EBITDA margin of approximately 30%, up 30 basis points from its prior guidance midpoint and 80 basis points above 2025. Ghosh said Host continues to expect wage rates to rise approximately 5% for the year. During the question-and-answer session, Ghosh said the implied fourth-quarter guidance points to a margin of around 30%, compared with 25.2% in the seasonally weaker third quarter. Higher occupancy in the third quarter brought additional variable expenses, he said. Business travel and Maui lead demand gains. Third-quarter transient revenue grew approximately 12%, with increases in both room rates and occupancy. Business transient revenue rose 9%, including a 5% increase in room nights, while group room revenue climbed 5%. Ghosh said San Francisco and Washington, D.C., generated more than 40% of the business transient growth. San Francisco benefited from technology demand, while D.C. saw gains from corporate and federal government travel. Risoleo said business transient booking windows remained relatively short and had not changed materially. He added that business transient room nights were still about 24% below their 2019 level. In Maui, RevPAR grew nearly 14% during the quarter despite weather disruptions. Host raised its forecast for 2026 EBITDA from its Maui properties by $2 million to approximately $122 million. The company estimates Hawaii weather events will reduce full-year EBITDA by about $10 million, including $7 million in Maui. Food and beverage revenue increased 6% in the third quarter, while golf revenue rose 4% and spa revenue gained 2%. Two acquisitions expand portfolio. Host announced two fourth-quarter acquisitions for a combined approximately $374 million in cash. It purchased a leasehold interest in the 195-room 1 Hotel Brooklyn Bridge for $202 million and a fee simple interest in the 308-room Renaissance Dallas at Plano Legacy West Hotel for approximately $172 million. Based on estimated 2026 results, the Brooklyn purchase price represented a 10.2-times EBITDA multiple and an approximately 8.2% capitalization rate. The Plano purchase represented an 11.2-times multiple and an approximately 7.9% capitalization rate. Risoleo said the acquisitions substantially completed the reallocation of proceeds from Host's Four Seasons sales earlier in the year. Together, the properties are expected to generate $6 million of EBITDA during Host's 2026 ownership period, an estimate included in its guidance. Risoleo described the Plano transaction as a somewhat distressed deal involving a lender-owned property. The Brooklyn acquisition was negotiated directly with Starwood, he said. Neither hotel needs near-term capital investment, according to Risoleo, who added that Host is pursuing other opportunities and is optimistic it could discuss at least one additional transaction within 60 to 90 days. Management points to 2027 tailwinds. Host has not issued 2027 guidance. Risoleo said the company plans to provide a more specific outlook in February, but cited acquisitions, renovations, business travel and recoveries in Maui and San Francisco among potential benefits next year. Host's 2027 total group revenue pace was 6% ahead of the same point a year earlier, supported by room rates, room nights and banquet contributions, Ghosh said. Risoleo said the Hyatt Transformational Capital Program was approximately 90% complete at the end of the third quarter and remained on track for completion by year-end. The company's second Marriott Transformational Capital Program was approximately 50% complete, on time and under budget, he said. Following a recast of its $2.5 billion credit facility and adjusting cash for the acquisitions and October dividend, Host reported $2.6 billion of available liquidity and an adjusted leverage ratio of 2.3 times. The company paid a quarterly cash dividend of $0.20 per share in October. About Host Hotels & Resorts (NASDAQ:HST). Host Hotels & Resorts, Inc is a self-managed and self-administered real estate investment trust that owns and operates a portfolio of luxury and upper-upscale hotels. The company's properties are generally located in high-demand business and leisure destinations and include full-service hotels, resorts and convention-oriented lodging facilities. Host Hotels typically invests in hotel real estate while relying on hotel management companies and major hospitality brands to operate its properties. This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to [email protected]. Before you consider Host Hotels & Resorts, you'll want to hear this. MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Host Hotels & Resorts wasn't on the list. While Host Hotels & Resorts currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys. 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Host Hotels acquires Brooklyn, Plano hotels for $374M. The deal brings the firm's total portfolio to more than 41,000 rooms. Host Hotels & Resorts Inc. has acquired interests in two luxury hotels, one in Brooklyn and the other in Plano, Texas, for a total of $374 million, in cash. The real estate investment trust spent $202 million on the leasehold interest in the 195-key 1 Hotel Brooklyn Bridge from Starwood Capital Partners. Host Hotels used the remaining $172 million to acquire the fee-simple interest in the 308-key Renaissance Dallas at Plano Legacy West Hotel from Paceline Equity Partners and Aravest, according to The Business Journal. Following the two transactions, Host Hotels' portfolio has expanded to 72 U.S. properties and five international ones, totalling approximately 41,800 rooms. Alongside them, the firm has noncontrolling interests in seven U.S. joint ventures. Two luxury hotels in Brooklyn and Plano. The Brooklyn asset has 83 years remaining on its ground lease. Completed in 2017 by Starwood Capital Partners and Toll Brothers, 1 Hotel Brooklyn Bridge features 29 suites, 12,000 square feet of meeting space, a wellness spa with ten treatment rooms, underground parking, a fitness center and a rooftop pool. The property is at 60 Furman St., just off the Brooklyn Bridge, some 2.4 miles from Manhattan's Financial District. Developed by Sam Moon Group, the Renaissance Plano also came online in 2017 as the only hotel within the 240-acre mixed-use Legacy West development, which features office, retail and residential space. The property stands at 6007 Legacy Drive, just off the Dallas North tollway and close to the interchange with Sam Rayburn tollway. Downtown Plano is 14 miles southeast. The Renaissance Plano rises 15 stories and features 16 suites, 35,000 square feet of meeting space, an outdoor pool, a fitness center and a parking garage. Hospitality investment activity across New York City continues to benefit from limited land availability and stricter short-term rental regulations, according to a report by Marcus & Millichap. Last year, the average sale price per room rose 40 percent compared to the figures recorded three years prior. Luxury and full-service hotels are expected to surpass 2025's metrics, with Brooklyn and Queens as the boroughs with the strongest demand growth. Meanwhile, transaction activity across the sector in Dallas-Fort Worth saw moderate growth, the same report points out. Dallas accounted for approximately 25 percent of transactions, with Plano trailing behind it at 12 percent. In these two markets, corporate relocations and business travel have been and are expected to continue being the main drivers for investor interest.

Host Hotels & Resorts, the Bethesda, Maryland-based real estate investment trust, reported third-quarter funds from operations of $268 million, or 39 cents per share. That beat the 38 cents per share average estimate of eight analysts surveyed by Zacks Investment Research. Net income was $70 million, or 10 cents per share. Revenue was $1.35 billion, short of the $1.38 billion analysts expected. For the full year, the company expects funds from operations of $2.21 per share and revenue of $6.21 billion.