The company has acquired fee simple interest in the 234-room 1 Hotel Central Park. Credit: Khadeeja Yasser / Unsplash.

Host Hotels & Resorts has reported net income attributable to the company of $239m for the second quarter (Q2) 2024, up 13.8% from $210m in the same period last year.

Basic and diluted earnings per share were both $0.34 for Q2 2024, compared with $0.30 and $0.29, respectively, in Q2 2023.

Go deeper with GlobalData

Data Insights

The gold standard of business intelligence.

Find out more

Related Company Profiles

View all

Total revenues for the quarter ending 30 June 2024 reached $1.46bn, a 5.03% increase from $1.39bn in the year-ago quarter.

Operating profit stood at $292m in Q2 2024, up from $249m in Q2 2023.

Total operating costs and expenses rose to $1.17bn in the three months to June 2024, from $1.14bn in the prior year.

Adjusted earnings before interest, taxes, depreciation, and amortisation for real estate (EBITDAre) for Q2 2024 were $476m, a 6.7% growth from $446m a year earlier.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

Comparable hotel total revenue per available room (RevPAR) was $368.25 in the quarter, a 0.5% rise from $366.60 in Q2 2023.

The company also announced the acquisition of the fee simple interest in the 234-room 1 Hotel Central Park for nearly $265m in cash.

It also closed the previously announced acquisition of the 450-room Ritz-Carlton O’ahu, Turtle Bay.

Host Hotels & Resorts president and CEO James F Risoleo said: “During the quarter, we repurchased $50m of common stock and completed several financing transactions, including the repayment of our Series G senior notes for $400m and the issuance of $600m of Series K senior notes at 5.7%.

“Thus far in 2024, we have acquired $1.5 billion of iconic and irreplaceable real estate, which we believe positions Host to deliver meaningful EBITDA growth.”

For the first quarter of 2024, Host Hotels & Resorts reported attributable net income of $268m and total revenues of $1.47bn. For the full year of 2024, the company projects adjusted EBITDAre between $1.61bn and $1.67bn, and net income to be in the range of $683m and $741m.