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BETHESDA, Md. - Host Hotels & Resorts Inc. (NASDAQ:HST) reported fourth-quarter earnings and revenue that topped analyst expectations, sending shares up 1% in after-hours trading.
The lodging real estate investment trust posted adjusted earnings per share of $0.15, beating the consensus estimate of $0.13. Revenue came in at $1.43 billion, surpassing expectations of $1.37 billion.
Comparable hotel Total (EPA:TTEF) RevPAR increased 3.3% YoY to $351.01 in Q4, driven by improvements in food and beverage revenues from group business. Comparable hotel RevPAR rose 3.0% to $212.86, reflecting higher rates from transient leisure demand.
"Host delivered comparable hotel Total RevPAR growth of 3.3% over the fourth quarter of 2023, and full year growth of 2.1% driven by improvements in food and beverage revenues from group business," said James F. Risoleo, President and CEO.
For full-year 2024, comparable hotel Total RevPAR grew 2.1% to $355.88, while comparable hotel RevPAR increased 0.9% to $216.06.
The company acquired $1.5 billion worth of hotel properties in 2024 across four locations. It also returned $844 million to shareholders through dividends and share repurchases.
Looking ahead, Host Hotels & Resorts expects 2025 comparable hotel Total RevPAR growth of 1.0% to 3.0% over 2024 levels. The guidance assumes continued improvement in group business, gradual recovery in business transient, and steady leisure demand.
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