Host Hotels & Resorts (NASDAQ:HST) said at its 2026 annual meeting that it entered the year with improved operating trends, substantial liquidity and continued reinvestment across its luxury and upper-upscale hotel portfolio.
Chairman Richard Marriott opened the virtual meeting, noting that a quorum was present and that stockholders would vote on three proposals: the election of nine directors, ratification of KPMG LLP as the company’s independent auditor for 2026, and an advisory vote on executive compensation. General Counsel and Corporate Secretary Julie Aslaksen later reported that all directors were elected and that the proposals related to KPMG and executive compensation were approved, based on preliminary results.
CEO Highlights 2025 Performance
Risoleo said the improvement was driven largely by better transient demand, continued rate strength and increases in ancillary spending. He also noted that a recovery in Maui, room-rate gains and strong transient demand offset an expected decline in group demand. Total RevPAR grew faster than RevPAR for most of the year, he said, due to out-of-room spending.
Margins declined in 2025, which Risoleo said was primarily due to business interruption proceeds received in 2024 related to the Maui wildfires.
Portfolio Reinvestment Remains a Focus
Host said it invested $644 million in 2025 in capital expenditures, resiliency initiatives and hurricane restoration. The company completed renovations to approximately 2,190 guest rooms, 433,000 square feet of meeting space and 109,000 square feet of public space.
Risoleo also highlighted progress on several major projects, including:
- Renovations at three of the six assets under the Hyatt Transformational Capital Program;
- The start of a second transformational capital program with Marriott International at four properties;
- An oceanfront ballroom expansion at The Don CeSar in St. Pete Beach, Florida;
- Villa development at The Phoenician Canyon Suites;
- The new AVIV Restaurant at 1 Hotel South Beach;
- Meeting space expansion and the reopening of The View Restaurant at the New York Marriott Marquis.
Risoleo said Host is also nearing completion of a condo development at the Four Seasons Orlando, which the company retained after selling the adjacent hotel in early 2026.
The company also discussed The Don CeSar, which reopened in early 2025 after a six-month remediation effort following hurricanes Helene and Milton. Risoleo said Host used industry relationships and lessons from prior hurricanes to improve amenities, rebuild infrastructure and increase resilience, including elevating critical equipment and systems.
Balance Sheet and Liquidity
Host ended 2025 with $2.4 billion of total available liquidity, including $1.5 billion of availability under its credit facility. Risoleo said the company returned $860 million of value to stockholders through dividends declared and share repurchases.
The company also completed approximately $237 million of asset sales during the year.
Risoleo said Host maintained an investment-grade balance sheet and a consolidated portfolio that is 99% unencumbered by debt. The company issued $900 million of senior notes through two underwritten public offerings and repaid $900 million of maturing senior notes, which Risoleo said helped maintain a well-laddered maturity schedule. He also noted that Moody’s upgraded the company’s credit rating to Baa2 with a stable outlook.
Corporate Responsibility and Resiliency
Host said it continued to receive recognition for corporate responsibility in 2025. Risoleo said the company was named to the Dow Jones Best-in-Class World Index for the seventh consecutive year and included in the DJSI North America for the ninth consecutive year. The company was also included in S&P’s Global Sustainability Yearbook.
Risoleo said Host’s corporate responsibility program focuses on responsible investment, sustainability, people and community. As part of its climate risk and resiliency program, the company completed the purchase and pre-installation of modular flood barriers exceeding FEMA 100-year flood elevation for six high-risk properties.
Host is also working to connect its climate risk program with property insurance premiums, with the goal of validating resilience investment opportunities, quantifying returns and scaling efforts across properties with elevated climate risk, Risoleo said.
As of Feb. 18, 2026, Host’s portfolio included 76 hotels totaling 41,700 rooms. Risoleo said the company remains the only investment-grade lodging REIT and the only lodging REIT in the S&P 500.
“While there continues to be heightened uncertainty in the macroeconomic environment,” Risoleo said, Host believes its capital allocation efforts, portfolio growth profile, geographic and business mix diversification, balance sheet, size, scale and reputation position the company to outperform in 2026 and beyond.
About Host Hotels & Resorts (NASDAQ:HST)
Host Hotels & Resorts, Inc is a real estate investment trust (REIT) focused on owning and managing premium lodging properties. The company’s portfolio predominantly comprises luxury and upper-upscale hotels and resorts operated under leading global brands. Through strategic acquisitions, dispositions and capital investments, Host Hotels & Resorts seeks to enhance long-term value by aligning property-level operating performance with broader market trends in hospitality demand.
The company’s holdings span major urban, resort and conference destinations across North America, Europe and the Asia-Pacific region.
