Key Developments: Host Hotels & Resorts Inc (HST.N)

HST.N on New York Stock Exchange

18.16USD
1 Aug 2013
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Latest Key Developments (Source: Significant Developments)

Host Hotels and Resorts Inc Announces Sale Of Ritz-Carlton, San Francisco
Monday, 1 Jul 2013 08:30am EDT 

Host Hotels and Resorts Inc announced that it has sold the 336-room Ritz-Carlton, San Francisco for approximately $161 million to an investment vehicle sponsored by Thayer Lodging Group. The proceeds will be used to fund future acquisitions or for general corporate purposes.  Full Article

Host Hotels and Resorts Inc Announces Increase In Quarterly Dividend On Common Stock
Monday, 17 Jun 2013 04:15pm EDT 

Host Hotels and Resorts Inc announced that its board of directors authorized a regular quarterly cash dividend of $0.11 per share on the Company's common stock, a 10% increase from the previous quarter. The dividend is payable on July 15, 2013 to stockholders of record on June 28, 2013.  Full Article

Host Hotels and Resorts Inc Announces Acquisition Of The Hyatt Place Waikiki Beach
Monday, 3 Jun 2013 08:00am EDT 

Host Hotels and Resorts Inc announced that it acquired the fee-simple interest in the 426-room Hyatt Place Waikiki Beach in Honolulu, Hawaii for $138.5 million from an affiliate of Chartres Lodging Group, LLC and Morgan Stanley Real Estate Fund VII Global. Kokua Hospitality will continue to manage the hotel subject to a franchise agreement with Hyatt.  Full Article

Host Hotels and Resorts Inc Names Gregory J. Larson As Chief Financial Officer
Monday, 20 May 2013 08:30am EDT 

Host Hotels and Resorts Inc announced that Gregory J. Larson, its current Executive Vice President, corporate strategy, has become the Chief Financial Officer of the Company. Struan Robertson, the current Chief Investment Officer, will, in addition to his investment activities, assume leadership of the Company's disposition efforts. Larry K. Harvey, who rejoined the Company in February 2003 and has acted as Chief Financial Officer since 2007, will remain with the Company until the third quarter. He will continue to serve as an Executive Vice President reporting to Chief Executive Officer, W. Edward Walter and assist in the transition of the duties to the new Chief Financial Officer.  Full Article

Host Hotels and Resorts Inc Raises FY 2013 Earnings Guidance; Comments On FY 2013 RevPAR Guidance
Friday, 3 May 2013 06:00am EDT 

Host Hotels and Resorts Inc announced that for fiscal 2013, it expects comparable hotel RevPAR will increase 5.0% to 7.0%; EPS to range from approximately $.31 to $.39; net income should range from $238 million to $298 million; NAREIT FFO per diluted share should range from approximately $1.22 to $1.30; Adjusted FFO per diluted share should range from approximately $1.25 to $1.33; and Adjusted EBITDA should be approximately $1.275 billion to $1.335 billion. According to I/B/E/S Estimates, analysts on an average were expecting the Company to report FFO of $1.26 and EBITDA of $1.289 billion for fiscal 2013.  Full Article

Host Hotels and Resorts Inc Issues FY 2013 FFO And EBITDA Guidance In Line With Analysts' Estimates; Comments On FY 2013 Comparable RevPAR Guidance
Thursday, 21 Feb 2013 06:00am EST 

Host Hotels and Resorts Inc announced that for fiscal 2013, it expects earnings per diluted share (EPS) to a range from approximately $0.29 to $0.36, net income to a range from $217 million to $276 million, NAREIT and adjusted funds from operations (FFO) per diluted share to be approximately $1.19 to $1.27 and adjusted EBITDA to be approximately $1.250 billion to $1.310 billion. The Company expects fiscal 2013 comparable hotel RevPAR to increase 5.0% to 7.0%. According to I/B/E/S Estimates, analysts on an average were expecting the Company to report FFO of $1.27 and EBITDA of $1.29 billion for fiscal 2013.  Full Article

Host Hotels and Resorts Inc Announces Increase In Quarterly Dividend On Common Stock
Wednesday, 20 Feb 2013 04:15pm EST 

Host Hotels and Resorts Inc announced that its board of directors authorized a regular quarterly cash dividend of $0.10 per share on the Company's common stock, an 11% increase from the previous quarter. The dividend is payable on April 15, 2013 to stockholders of record on March 28, 2013.  Full Article

Host Hotels and Resorts Inc Announces Acquisition Of Five Hotels By European Joint Venture
Monday, 3 Dec 2012 07:30am EST 

Host Hotels and Resorts Inc announced that the second fund of the Company's joint venture in Europe, in which the Company holds a 33.4% interest, acquired five hotels from Whitehall comprising 1,733 rooms in two countries for approximately EUR440 million. The acquisition price, which represents a significant discount to replacement cost, has been partially funded by a EUR250 million loan secured by the properties with an interest rate of approximately 4.4%. The loan is non-recourse to the Company. The five fee simple properties include the 757-room Paris Marriott Rive Gauche Hotel & Conference Center, the 402-room Renaissance Amsterdam Hotel, the 327-room Renaissance Paris La Defense Hotel, the 97-room Renaissance Paris Vendome Hotel, and the 150-room Courtyard Paris La Defense West - Colombes. As previously disclosed, the Company has an investment in the two most junior tranches of the mortgage loan secured by these properties. As part of this transaction, the Company will receive full repayment for its portion of the outstanding mortgage on these hotels in the amount of approximately EUR62 million.  Full Article

Host Hotels and Resorts Inc Announces Increase In Quarterly Dividend On Common Stock
Thursday, 29 Nov 2012 08:00am EST 

Host Hotels and Resorts Inc announced that its Board of Directors authorized a regular quarterly cash dividend of $0.09 per share on the Company's common stock, a 12.5% increase from the previous quarter. The dividend is payable on January 15, 2013 to stockholders of record on December 31, 2012.  Full Article

Host Hotels and Resorts Inc Announces Completion Of Joint Venture Agreement With Hyatt; Sale Of Toronto Airport Marriott Hotel
Tuesday, 20 Nov 2012 04:32pm EST 

Host Hotels and Resorts Inc announced that Host Hotels & Resorts, L.P. (Host) recently completed the previously announced joint venture agreement with an affiliate of Hyatt Hotels Corporation (Hyatt) to develop, sell and operate a 131-unit vacation ownership project adjacent to the Company's Hyatt Regency Maui Resort & Spa. Construction has begun and the project is expected to open in late 2014. In addition, on November 15, 2012, Host, consistent with its strategy to reduce its exposure to non-core, suburban, airport assets, closed on the sale of its 94.8% interest in the Toronto Airport Marriott Hotel for CAD30.6 million and retained the FF&E reserve of CAD1.7 million for total cash proceeds to Host of CAD32.3 million.  Full Article

TEXT-Fitch upgrades Host Hotels & Resorts IDR to 'BB+'

Feb 28 - Fitch Ratings has upgraded the credit ratings of Host Hotels & Resorts (NYSE: HST) and its operating partnership, Host Hotels & Resorts Limited Partnership (collectively Host, or the company) as follows: Host Hotels & Resorts, Inc. --Issuer Default Rating (IDR) to 'BB+' from 'BB'. Host Hotels & Resorts, L.P. --IDR to 'BB+' from 'BB'; --Unsecured revolving credit facility to 'BB+' from 'BB'; --Senior unsecured notes to 'BB+' from 'BB'; --Senior unsecured exchangeable notes to 'BB+' fro

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