Host Hotels raises annual FFO forecast on strong demand

Aug. 5 (Reuters) - Real estate investment trust Host Hotels & Resorts HST.O raised its forecast for 2026 adjusted funds from operations on Wednesday, helped by strong bookings for luxury hotels and a boost from the FIFA World Cup in June.

The company has benefited from its luxury and upscale portfolio as affluent travelers continue to spend on premium experiences.

Here are more details:

• Travel firms have also been gaining from steady group business demand and the increased domestic and international visitation from the recently concluded FIFA World Cup.
• The Bethesda, Maryland-based firm now expects 2026 adjusted FFO — a key measure of a REIT's performance — to be between $2.15 and $2.18 per share, from its previous range of $2.10 to $2.16 apiece.
• It expects total room revenue to grow 4.75% to 5.25% during the year, up from its earlier projection of 3.5% to 5% growth.
• Host Hotels reported adjusted FFO of 63 cents per share for the second quarter ended June 30, compared with analysts' average estimate of 62 cents, according to data compiled by LSEG.
• Total quarterly revenue came in at $1.64 billion, beating Wall Street estimates of $1.61 billion.