Host Hotels Beats Q1 FFO Estimates, Raises Full-Year Guidance and Declares Special Dividend
HST•Host Hotels recorded Q1 funds from operations of $460 million (67¢/share), surpassing the 63¢ consensus, alongside net income of $494 million and revenue of $1.65 billion. The REIT raised full-year FFO guidance to $2.10-$2.16/share and declared a $0.92/share Q2 dividend, including a $0.72 special payout.
1. Q1 Financial Results
Host Hotels & Resorts posted FFO of $460 million (67¢ per share), topping the 63¢ consensus estimate, and reported net income of $494 million and revenue of $1.65 billion in the first quarter.
2. RevPAR Growth and Operating Metrics
Comparable hotel Total RevPAR rose 4.6% to $418.20 and RevPAR grew 4.4% to $244.11, driven by strong leisure demand and increased out-of-room spending across its portfolio.
3. Guidance, Asset Sales and Dividends
The company raised full-year FFO guidance to $2.10-$2.16 per share with revenue forecast of $6.1-$6.18 billion, completed sales of Four Seasons and St. Regis assets for $1.151 billion, and authorized a $0.92 Q2 dividend including a $0.72 special distribution.
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