Host Hotels & Resorts (HST) investor relations material

Executive summary

• Achieved strong Q2 2026 results with 7.0% comparable hotel RevPAR growth and 5.9% Total RevPAR growth, driven by robust leisure, group, and transient demand, including benefits from the FIFA World Cup and luxury resort performance.

• Net income for Q2 2026 was $241 million, up 7.1% year-over-year, with year-to-date net income of $742 million, a 55.9% increase, aided by asset sales and improved operating margins.

• Adjusted EBITDAre for Q2 2026 was $525 million, up 5.8% year-over-year; adjusted FFO per share rose 8.6%.

• Operates as a self-managed REIT with 75 luxury and upper-upscale hotels totaling 41,300 rooms in 21 top U.S. markets as of August 2026.

• Market capitalization reached $16.5 billion and enterprise value $20.0 billion as of June 30, 2026.

Financial highlights

• Q2 2026 total revenues were $1.64 billion, up 3.4% year-over-year; year-to-date revenues were $3.29 billion, up 3.3%.

• Comparable hotel EBITDA margin improved by 60 bps to 31.9% in Q2 2026; year-to-date margin rose to 32.3%.

• NAREIT FFO per diluted share for Q2 2026 was $0.62, up 8.8%; Adjusted FFO per diluted share was $0.63, up 8.6%.

• Q2 recognized $8M EBITDA from condo sales; $53M in Q2 and $79M YTD revenue from Four Seasons Resort Orlando condo sales.

• Dividend per share for Q2 2026 was $0.92, including a $0.72 special dividend from asset sale gains.

Outlook and guidance

• Raised full-year 2026 guidance for comparable hotel Total RevPAR and RevPAR growth to 4.75%–5.25% over 2025.

• Full-year 2026 net income guidance is $944–$962 million; Adjusted EBITDAre guidance is $1,820–$1,840 million.

• Full-year comparable hotel EBITDA margin expected to increase 40–50 bps over 2025.

• Capital expenditures for 2026 forecasted at $550–$630 million, including $250M–$285M for ROI projects and $275M–$315M for renewals.

• Guidance assumes 5% wage rate growth and mid-single-digit RevPAR growth for the remainder of the year.