Comparable hotel Total RevPAR was $367.54 for the second quarter and $366.74 year-to-date, representing an increase of 3.8% and 16.9%, respectively, compared to the same periods in 2022.
RevPAR Exceeds 2019 for Third Consecutive Quarter; Full Year Performance Finishes at High End of Q3 Guidance
Host Hotels & Resorts, Inc. (NASDAQ: HST) announced the appointment of Mari Sifo as executive vice president and chief human resources officer, effective November 28, 2022. She succeeds Joanne Hamilton who previously announced her retirement.
Host Hotels & Resorts, Inc. (NASDAQ: HST) yesterday announced that it has acquired the fee simple interest in the Four Seasons Resort and Residences Jackson Hole, a 125-room luxury resort in Jackson Hole, Wyoming, for approximately $315 million in cash.
All Owned Hotel Total RevPAR was $306.11 and All Owned Hotel RevPAR was $192.06 in the third quarter, a 3.8% and 1.4% increase, respectively, over third quarter of 2019. Average room rates were 15.8% above third quarter 2019, driven by continued strong leisure demand, while also benefiting from growth in urban markets, driven by increased group and business travel.
Announces Doubling of Quarterly Dividend to $0.06 Per Share
Host Hotels & Resorts, Inc. (NASDAQ: HST) today announced that it has sold the 1,780-room Sheraton New York Times Square Hotel for approximately $373 million, which represents a 28.0x EBITDA multiple1 on 2019 EBITDA.
The hotels are: The Whitley, A Luxury Collection Hotel, Atlanta Buckhead in Georgia; The Westin Buckhead Atlanta in Georgia; The Westin Los Angeles Airport, located at the Los Angeles International Airport in California; San Ramon Marriott, located in Santa Clara, California; and the Westfields Marriott Washington Dulles, located in Chantilly, Virginia.
Fitch Ratings has upgraded the ratings of Host Hotels & Resorts, Inc. (NYSE: HST) and its operating partnership Host Hotels & Resorts, L.P. (collectively Host or the company), including the Issuer Default Rating (IDR), to 'BBB' from 'BBB-'. The Rating Outlook is Stable.
Comparable RevPAR on a constant dollar basis improved 3.8% for the quarter, driven by rate growth of 4.8%, partially offset by a decrease in occupancy of 0.7 percentage points.