Host Hotels & Resorts Inc. Reports Strong Performance in 2025 Annual Report

As of February 20, 2026, Host Hotels owns a diverse portfolio of 76 hotels across the United States, Canada, and Brazil, with further minority interests in 90 additional properties through joint ventures. The company operates primarily in central business districts, near airports, and in popular resort and conference destinations, enabling it to tap into lucrative transient demand.

In 2025, Host Hotels reported total revenues of $6.11 billion, an increase of $430 million, or 7.6%, compared to 2024. This growth was driven by a resurgence in short-term transient demand and increased spending on food and beverage services, alongside the successful sale of condominium units adjacent to the Four Seasons Resort Orlando at Walt Disney World® Resort, which generated $99 million in revenue.

The geographical breakdown of revenue revealed that domestic operations generated $6.01 billion, a growth of 7.65% from the previous year. Canada contributed $76 million, while Brazil added $28 million, marking increases of 1.33% and 7.69%, respectively.

A detailed analysis of revenue by products and services showed that rooms accounted for $3.60 billion, followed by food and beverage at $1.80 billion, condominium sales at $99 million, and other services at $604 million.

Despite a favorable revenue trajectory, operating profit margins faced pressure due to rising wage expenses. The operating profit margin decreased by 140 basis points to 14.0%, while comparable hotel EBITDA margins fell by 40 basis points to 28.9%. Nevertheless, net income rose by $69 million, or 9.8%, to reach $776 million, largely attributed to improved operating results and asset sale gains.

During 2025, Host Hotels executed significant asset transactions, selling The Westin Cincinnati and Washington Marriott at Metro Center for a combined total of $237 million. Subsequent to the fiscal year-end, the company announced the sale of the Four Seasons Resort Orlando and the Four Seasons Resort and Residences Jackson Hole for approximately $1.1 billion. These strategic divestitures reflect the company's commitment to optimizing its asset portfolio.

In line with its growth strategy, Host Hotels invested approximately $644 million in capital expenditures in 2025. This included eco-efficiency improvements and modernization efforts across its portfolio, with notable restoration work at The Don CeSar following hurricane damage, costing around $105 million.

The company also initiated a transformational capital program with Hyatt, targeting six properties with a projected investment of between $550 million and $600 million. In addition, a second program with Marriott was approved, expected to involve an investment of $300 million to $350 million through 2029.

As Host Hotels looks towards 2026, it anticipates continued growth in comparable hotel RevPAR, forecasting an increase between 2.0% and 3.5%. The company remains committed to a disciplined approach to capital allocation, focusing on acquiring luxury properties and pursuing opportunistic hotel sales amidst uncertain economic conditions.

Host Hotels successfully raised capital during 2025, issuing $500 million of senior notes and an additional $400 million to refinance existing debt. As of December 31, 2025, the company maintained a robust liquidity position with $768 million in cash and cash equivalents, and $1.5 billion available under its credit facility.

In a nod to shareholder value, Host Hotels repurchased 13.1 million shares at an average price of $15.68 per share, totaling $205 million. Additionally, the Board of Directors declared dividends of $0.95 per share, including a special dividend of $0.15 in the fourth quarter.

Host Hotels & Resorts Inc. has demonstrated resilience and strategic agility in 2025, positioning itself for sustained growth despite market challenges. With a strong commitment to operational efficiency, strategic acquisitions, and shareholder returns, Host Hotels remains a leader in the hospitality sector, poised to capitalize on emerging opportunities while navigating economic uncertainties.