Host Hotels Q4 2024 Earnings Report
Key Takeaways
Host Hotels & Resorts reported a 3.3% increase in comparable hotel Total RevPAR and a 3.0% increase in comparable hotel RevPAR for Q4 2024. Net income decreased by 18.7% compared to Q4 2023, primarily due to a decrease in net gains on insurance settlements.
Comparable hotel Total RevPAR increased by 3.3% compared to Q4 2023.
Comparable hotel RevPAR increased by 3.0% compared to the same period in 2023.
Net income decreased by 18.7% compared to Q4 2023.
Adjusted EBITDAre decreased by 1.3% compared to 2023, impacted by hurricanes and the absence of business interruption proceeds.
Host Hotels
Host Hotels
Host Hotels Revenue by Segment
Host Hotels Revenue by Geographic Location
Forward Guidance
The Company anticipates mid-single digit RevPAR growth in the first quarter, with January comparable hotel RevPAR growth up 9.5% over 2024. For the remaining three quarters, the Company anticipates RevPAR growth in the low single digits.
Positive Outlook
- Continued improvement in group business
- Continued gradual recovery in business transient
- Steady leisure demand
- Improving demand on Maui as the island recovers from the August 2023 wildfires
- January comparable hotel RevPAR growth up 9.5% over 2024.
Challenges Ahead
- Operating profit margin and comparable hotel EBITDA margin in 2025 are expected to decline compared to 2024, due to growth in wages, real estate taxes and insurance
- Continued impacts from the Maui wildfires
- Decrease in business interruption proceeds
- The Don CeSar will remain closed due to Hurricanes Helene and Milton through late first quarter 2025.
- Timing for the receipt of additional insurance proceeds related to the hurricanes remains uncertain.