Key Developments: Host Hotels & Resorts Inc (HST)
18.77USD
17 May 2013
$0.07 (+0.37%)
$18.70
$18.73
$18.82
$18.62
4,843,476
7,201,130
$18.82
$13.58
Latest Key Developments (Source: Significant Developments)
Host Hotels and Resorts Inc Raises FY 2013 Earnings Guidance; Comments On FY 2013 RevPAR Guidance
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
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
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
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
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
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
Host Hotels and Resorts Inc Provides Updated FY 2012 Guidance Due To Effects Of Hurricane Sandy
Host Hotels and Resorts Inc announced that based on preliminary information regarding the impact of Hurricane Sandy and assuming no insurance recovery this year, the Company is revising its fiscal 2012 guidance as follows: Comparable hotel RevPAR will increase 6.0% to 6.25%; Total revenues under GAAP would increase 6.8% to 7.2%; and Total comparable hotel revenues would increase 5.0% to 5.4%. Based upon these parameters, the Company estimates that its revised 2012 guidance is as follows: earnings per diluted share (EPS) should range from approximately $0.13 to $0.15; net income should range from $100 million to $113 million; NAREIT FFO per diluted share should be approximately $1.00 to $1.02; Adjusted FFO per diluted share should be approximately $1.05 to $1.07; and Adjusted EBITDA should be approximately $1,147 million to $1,160 million. The Company reported revenue of $4.998 billion in fiscal 2011. According to I/B/E/S Estimates, analysts on an average were expecting the Company to report revenue of $5.307 billion, EPS of $0.16, net income of $121 million, FFO of $1.08 and EBITDA of $1.159 billion for fiscal 2012. Full Article
Host Hotels and Resorts Inc Narrows FY 2012 Net Income Guidance; Raises FY 2012 EBITDA Guidance; Raises Low End Of Revenue, FFO Guidance; Revises FY 2012 Hotel RevPAR Guidance
Host Hotels and Resorts Inc announced that for fiscal 2012, it expects comparable hotel RevPAR to increase 6.25% to 7.0%; total revenues under GAAP would increase 7.2% to 7.7%; total comparable hotel revenues would increase 5.4% to 6.0. Based upon these parameters, the Company estimates fiscal 2012 earnings per diluted share (EPS) should range from approximately $.15 to $.17; net income should range from $109 million to $126 million; NAREIT FFO per diluted share should be approximately $1.01 to $1.04; Adjusted FFO per diluted share should be approximately $1.06 to $1.09; and Adjusted EBITDA should be approximately $1.155 billion to $1.175 billion. The Company reported revenue of $4.998 billion in fiscal 2011. According to I/B/E/S Estimates, analysts on an average were expecting the Company to report revenue of $5.33 billion, EPS of $0.16, net income of $127 million, FFO of $1.07 and EBITDA of $1.163 billion for fiscal 2012. Full Article
Host Hotels and Resorts Inc Announces Increase In Quarterly Dividend On Common Stock
Host Hotels and Resorts Inc announced that its Board of Directors authorized a regular quarterly cash dividend of $0.08 per share on the Company's common stock, a 14% increase from the previous quarter and the Company's seventh consecutive quarterly dividend increase. The dividend is payable on October 15, 2012 to stockholders of record on September 28, 2012. Full Article
Host Hotels and Resorts Inc Raises Low End Of Prior FY 2012 RevPAR Outlook; Raises FY 2012 Revenue, FFO, EBITDA Outlook; Lowers High End Of Prior FY 2012 EPS Outlook; Lowers FY 2012 Net Income Outlook
Host Hotels and Resorts Inc announced that for fiscal 2012, it expects comparable hotel RevPAR will increase 5.5% to 7.0%, total revenues under GAAP would increase 6.3% to 7.8%, earnings per diluted share (EPS) to be in a range from approximately $0.14 to $0.19, net income to be in a range of $104 million to $140 million, adjusted funds from operations (FFO) per diluted share to be approximately $1.04 to $1.09 and adjusted EBITDA to be approximately $1.135 to $1.170 billion. The Company reported revenue of $4.998 billion in fiscal 2011. According to I/B/E/S Estimates, analysts on an average were expecting the Company to report revenue of $5.287 billion, EPS of $0.19, net income of $145 million, FFO of $1.06 and EBITDA of $1.142 billion for fiscal 2012. 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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