Host Hotels & Resorts, Inc., herein referred to as we, Host Inc., or the Company, is a self-managed and self-administered real estate investment trust that owns hotel property. We conduct our operations as an umbrella partnership, REIT, through an operating partnership, Host Hotels & Resorts, L.P., of which we are the sole general partner. When distinguishing between Host Inc. and Host LP, the primary difference is approximately 1% of the partnership interests in Host LP held by outside partners as of December 31, 2025, which are non-controlling interests in Host LP in our consolidated balance sheets and are included in net (income) loss attributable to non-controlling interests in our condensed consolidated statements of operations. Host Hotels & Resorts, Inc. is incorporated in 1927 in Maryland, USA.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2025
Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2025 | $6.1B | $1.8B | $765M | $866M | 11.7% | 7.6% | 9.8% |
| 2024 | $5.7B | $1.7B | $697M | $950M | 10.5% | 7.0% | -5.8% |
| 2023 | $5.3B | $1.7B | $740M | $795M | 11.2% | 8.2% | 16.9% |
| 2022 | $4.9B | $1.5B | $633M | $912M | 9.4% | - | - |
| 2021 | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Total Revenue | - | 4,907 | 5,311 | 5,684 | 6,114 |
| Cost Of Revenue | - | 2,197 | 2,461 | 2,651 | 2,898 |
| Gross Profit | - | 2,710 | 2,850 | 3,033 | 3,216 |
| Operating Expense | - | 1,952 | 2,109 | 2,262 | 2,385 |
| Operating Income | - | 758 | 741 | 771 | 831 |
| EBITDA | - | 1,489 | 1,676 | 1,698 | 1,848 |
| EBIT | - | 825 | 979 | 936 | 1,053 |
| Pretax Income | - | 669 | 788 | 721 | 818 |
| Tax Provision | - | 26 | 36 | 14 | 42 |
| Net Income | - | 633 | 740 | 697 | 765 |
| Net Income Common Stockholders | - | 633 | 740 | 697 | 765 |
| Total Expenses | - | 4,149 | 4,570 | 4,913 | 5,283 |
| Interest Expense | - | 156 | 191 | 215 | 235 |
| Interest Income | - | 30 | 75 | 54 | 32 |
| Selling General And Administration | - | 107 | 115 | 117 | 124 |
| Normalized EBITDA | - | 1,472 | 1,590 | 1,594 | 1,681 |
| Normalized Income | - | 616.66 | 657.93 | 595.02 | 606.57 |
| Market Cap | 14,365.27 | 14,365.27 | 14,365.27 | 14,365.27 | 14,365.27 |
Real Estate sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| Host Hotels & Resorts, Inc.this co. | HST | $14.4B | 18.78β discount | 2.19 | 11.7% | 10.41 |
| Kimco Realty Corporation | KIM | $16.9B | 27.32 | 1.54 | 5.6% | 16.59 |
| Essex Property Trust, Inc. | ESS | $16.4B | 24.59 | 2.97 | 12.1% | 14.82 |
| Regency Centers Corporation | REG | $15.0B | 28.42 | 2.24 | 7.9% | 17.55 |
| Mid-America Apartment Communities, Inc. | MAA |
| - |
| - |
| - |
| - |
| - |
| - |
| $14.8B |
| 32.71 |
| 2.57 |
| 7.9% |
| 15.77 |
| CoStar Group, Inc. | CSGP | $12.7B | 2206.30 | 1.85 | 0.1% | 78.51 |
| Healthpeak Properties, Inc. | DOC | $11.7B | 160.11 | 1.52 | 1.0% | 12.80 |
| UDR, Inc. | UDR | $11.6B | 34.66 | 4.03 | 11.6% | 14.90 |
| Camden Property Trust | CPT | $11.1B | 27.72 | 2.44 | 8.8% | 12.66 |
| Peer Median | - | 30.57 | 2.34 | 7.9% | 15.34 | |