BETHESDA, Md., Nov. 02, 2022 (GLOBE NEWSWIRE) -- Host Hotels & Resorts, Inc. (NASDAQ:HST) (the "Company"), the nation's largest lodging real estate investment trust ("REIT"), today announced results for third quarter of 2022.

Operating Results

(unaudited, in millions, except per share and hotel statistics)

	Quarter ended September 30,					Percent Change			Percent Change			Year-to-date ended September 30,					Percent Change			Percent Change
	2022		2021			vs. Q3 2021			vs. Q3 2019⁽²⁾			2022		2021			vs. 2021			vs. 2019⁽²⁾
Revenues	$	1,189	$	844			40.9	%		(5.8	)%	$	3,644	$	1,892			92.6	%		(11.9	)%
All Owned Hotel revenues ⁽¹⁾		1,187		798			48.7	%		4.9	%		3,609		1,884			91.6	%		(3.1	)%
All Owned Hotel Total RevPAR ⁽¹⁾		306.11		206.75			48.1	%		3.8	%		313.58		164.64			90.5	%		(4.1	)%
All Owned Hotel RevPAR ⁽¹⁾		192.06		135.28			42.0	%		1.4	%		193.38		106.56			81.5	%		(4.4	)%



Net income (loss)	$	116	$	(120	)	N/M						$	494	$	(334	)	N/M
EBITDAre⁽¹⁾		328		179			83.2	%					1,140		295			286.4	%
Adjusted EBITDAre⁽¹⁾		328		177			85.3	%					1,134		290			291.0	%

Diluted earnings (loss) per common share		0.16		(0.17	)	N/M							0.68		(0.47	)	N/M
NAREIT FFO per diluted share⁽¹⁾		0.38		0.20			90.0	%					1.35		0.33			309.1	%
Adjusted FFO per diluted share⁽¹⁾		0.38		0.20			90.0	%					1.35		0.33			309.1	%

* Additional detail on the Company's results, including data for 22 domestic markets, is available in the Third Quarter 2022 Supplemental Financial Information on the Company's website at www.hosthotels.com.

James F. Risoleo, President and Chief Executive Officer, said, "During the third quarter, we continued to see strong positive operating trends. RevPAR was $192 for the quarter, representing a 1.4% increase over the third quarter of 2019, the second consecutive quarter of improvement in comparison to 2019. Our results this quarter were driven by continued rate strength, with an increase of 15.8% compared to the same period in 2019, despite typical seasonality and shifting business and market mix."

Risoleo continued, "In November, we completed another acquisition, buying the Four Seasons Resort and Residences Jackson Hole for $315 million. We are pleased to further diversify our portfolio with one of only a handful of ski-in/ski-out luxury resorts in the United States. The hotel is situated in close proximity to Yellowstone and Grand Teton National Parks in a year-round market with shrinking shoulder seasons, severely restricted supply and a history of strong RevPAR growth. This acquisition further demonstrates Host's ability to utilize our strong balance sheet to improve the quality and EBITDA growth profile of our portfolio. As a result, we believe that Host is well-positioned for future growth."

Highlights:

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.
Generated GAAP net income of $116 million in the third quarter and GAAP operating profit margin for the quarter was 12.4%, an improvement of 150 basis points compared to the third quarter of 2019.
Achieved All Owned Hotel EBITDA of $341 million and Adjusted EBITDAre of $328 million, both of which exceeded 2019 third quarter results.
The strong improvement in rate and more normalized staffing levels led to All Owned Hotel EBITDA margin of 28.7% for the third quarter, exceeding the third quarter 2019 margin by 250 basis points. GAAP operating profit margin and All Owned Hotel EBITDA margin benefited from receipt of business interruption insurance proceeds of $10 million related to the Orlando World Center Marriott, which, net of management fees, increased margins by 60 basis points.
During the third quarter, sold the Chicago Marriott Suites Downers Grove for $16 million, including $2 million of furniture fixtures & equipment ("FF&E") funds retained by the Company. The hotel was expected to have capital expenditures needs of approximately $15 million within the next five years.
Subsequent to quarter end, acquired the 125-room Four Seasons Resort and Residences Jackson Hole for $315 million. The luxury ski resort in Jackson Hole, Wyoming also features an additional 44 private residences, the owners of which may participate in a rental program through the resort. The resort, located steps from the gondola at the base of the Jackson Hole Mountain Resort, offers nearly 9,000 square feet of indoor meeting space, three upscale food and beverage outlets plus a pool café, two retail outlets and a 16-treatment room alpine spa.

Balance Sheet

The Company maintains a robust balance sheet, with the following balances at September 30, 2022:

Total assets of $12.2 billion.
Debt balance of $4.2 billion, with an average maturity of 4.8 years, an average interest rate of 4.1%, and no significant maturities until 2024.
Total available liquidity of approximately $2.6 billion, including FF&E escrow reserves of $187 million and $1.5 billion available under the revolver portion of the credit facility. Following the cash acquisition of the Four Seasons Resort and Residences Jackson Hole that was completed subsequent to quarter end, the Company's total available liquidity was approximately $2.2 billion.

Dividend

The Company paid a third quarter cash dividend of $0.12 per share on its common stock on October 17, 2022 to stockholders of record on September 30, 2022. All future dividends are subject to approval by the Company's Board of Directors. During the third quarter, the Board of Directors authorized an increase in the Company's share repurchase program to $1 billion. No shares were repurchased during the third quarter under the program.

Operating Results

All Owned Hotel RevPAR surpassed third quarter 2019 RevPAR, as strong leisure demand for resorts and hotels located in the Company's Sunbelt markets and Hawaii continued. Results also benefited from group revenues surpassing third quarter 2019, as group demand improved quarter over quarter and rates exceeded 2019.
Food and beverage revenues for the Company's current portfolio exceeded 2019 for the first time since the onset of the pandemic, improving approximately 3.8%, compared to the third quarter of 2019. Banquet and Catering revenues improved 6% compared to 2019 driven by higher contributions from group business, and outlet revenues also exceeded 2019.
Hiring pace improved in the third quarter compared to the second quarter, leading to staffing more aligned with operators' desired levels.
While the majority of the Company's properties in Florida were affected by Hurricane Ian in September, the most significant damage sustained during the storm occurred at The Ritz-Carlton, Naples and Hyatt Regency Coconut Point Resort and Spa. Due to evacuation mandates and/or loss of commercial power, five of the Company's properties in Florida were temporarily closed, three of which reopened within days. Due to proximity of the event to quarter end, operating results for the third quarter 2022 were not materially impacted, however the impact will carry into the fourth quarter as well as into 2023, as The Ritz-Carlton, Naples and Hyatt Regency Coconut Point Resort and Spa remain closed. The Company is still evaluating the complete property and business interruption impacts of the storm. Despite a brief loss of commercial power and damage to the property's grounds, pools and amenities, the Hyatt Regency Coconut Point has remained open to first responders and the hotel is expected to reopen to guests in mid-November, as a phased reopening, with the waterpark reopening during the second quarter of 2023. The Ritz-Carlton, Naples is expected to remain closed for the remainder of the year and into 2023, with a phased reopening strategy being evaluated.

Hotel Business Mix Update

The Company's customers fall into three broad groups: transient, group and contract business, which accounted for approximately 61%, 35%, and 4%, respectively, of its 2019 room sales.

While leisure demand continued to contribute to improvements in the third quarter compared to 2019, group demand also moved closer to 2019 levels, while maintaining a strong increase in rate compared to the third quarter of 2019. The following are the sequential results for transient, group and contract business in comparison to 2019 performance, for the Company's current portfolio:

	Quarter ended September 30, 2022									Quarter ended June 30, 2022
	Transient			Group			Contract			Transient			Group			Contract
Room nights (in thousands)		1,557			991			151			1,581			1,116			138
Percentage change in room nights vs. same period in 2019		(18.4	)%		(2.6	)%		21.2	%		(10.3	)%		(8.4	)%		12.4	%
Rooms Revenues (in millions)	$	487		$	229		$	28		$	529		$	289		$	26
Percentage change in revenues vs. same period in 2019		1.7	%		3.3	%		9.4	%		9.7	%		(2.9	)%		2.1	%

Capital Expenditures

The following presents the Company's capital expenditures spend for the third quarter and the forecast for full year 2022 (in millions):

	Year-to-date ended September 30, 2022		2022 Full Year Forecast

	Actual		Low-end of range		High-end of range
ROI - Marriott Transformational Capital Program	$	70	$	90	$	115
ROI - All other ROI projects		170		230		240
Total ROI project spend		240		320		355
Renewals and Replacements		117		180		220
Total Capital Expenditures	$	357	$	500	$	575

The Company invested heavily in capital expenditures in the early phases of recovery in order to minimize future disruption and believes these renovations will position these hotels to capture additional revenue during the lodging recovery. In 2022, the Company expects to complete renovations to 4,000 guestrooms, approximately 33,000 square feet of meeting space and approximately 81,000 square feet of public space. The Company received $1 million of operating profit guarantees in the third quarter and $8 million year-to-date and expects to receive approximately $10 million in total operating profit guarantees in 2022 under the Marriott Transformational Capital Program. Fifteen of the 16 properties in the program are expected to be substantially complete by the end of 2022, with Washington Marriott at Metro Center expected to complete in the first half of 2023.

2022 Outlook

The Company estimates, based on information currently available, that Hurricane Ian will negatively impact its full year revenues by approximately $42 million, of which $36 million is in the fourth quarter, All Owned Hotel RevPAR by 70 basis points, but have a 250 basis points impact in the fourth quarter, and net income and Adjusted EBITDAre by $20 million, of which $17 million is in the fourth quarter. Full Year 2022 Guidance for operating profit margin under GAAP and All Owned Hotel EBITDA margin have also been reduced by 30 basis points and 10 basis points, respectively, due to the estimated impact of Hurricane Ian. As a result, the Company anticipates its full year 2022 operating results, as compared to 2021 and 2019, will be in the following range:

	Full Year 2022 Guidance⁽¹⁾
	Low-end of range			High-end of range			Change vs. 2021	Change vs. 2019
All Owned Hotel Total RevPAR	$	313		$	316		70.0% to 71.7%	(4.0)% to (3.0)%
All Owned Hotel RevPAR		193			195		63.7% to 65.4%	(3.75)% to (2.75)%
Total revenues under GAAP		4,855			4,903		68.0% to 69.7%	(11.2)% to (10.3)%
Operating profit margin under GAAP		15.3	%		15.8	%	2,400 bps to 2,450 bps	70 bps to 120 bps
All Owned Hotel EBITDA margin		31.6	%		31.9	%	820 bps to 850 bps	190 bps to 220 bps

___________

(1) All Owned Hotel guidance does not include the results of the Four Seasons Resort and Residences Jackson Hole, acquired on November 1, 2022.

Based upon the above parameters, the Company estimates its full year 2022 guidance as follows:

	Full Year 2022 Guidance
	Low-end of range		High-end of range
Net income (in millions)	$	617	$	645
Adjusted EBITDAre (in millions)		1,470		1,500
Diluted earnings per common share		0.85		0.89
NAREIT FFO per diluted share		1.75		1.79
Adjusted FFO per diluted share		1.75		1.79

See the 2022 Full Year Forecast Schedule and the Notes to Financial Information for items that may affect forecast results.

About Host Hotels & Resorts

Host Hotels & Resorts, Inc. is an S&P 500 company and is the largest lodging real estate investment trust and one of the largest owners of luxury and upper-upscale hotels. The Company currently owns 73 properties in the United States and five properties internationally totaling approximately 42,200 rooms. The Company also holds non-controlling interests in seven domestic and one international joint ventures. Guided by a disciplined approach to capital allocation and aggressive asset management, the Company partners with premium brands such as Marriott^®, Ritz-Carlton^®, Westin^®, Sheraton^®, W^®, St. Regis^®, The Luxury Collection^®, Hyatt^®, Fairmont^®, Hilton^®, Four Seasons^®, Swissôtel^®, ibis^® and Novotel^®, as well as independent brands. For additional information, please visit the Company's website at www.hosthotels.com.

Note: This press release contains forward-looking statements within the meaning of federal securities regulations. These forward-looking statements which include, but may not be limited to, our expectations regarding the impact of the COVID-19 pandemic on our business, the recovery of travel and the lodging industry, the impact of Hurricane Ian and 2022 estimates with respect to our business are identified by their use of terms and phrases such as "anticipate," "believe," "could," "estimate," "expect," "intend," "may," "should," "plan," "predict," "project," "will," "continue" and other similar terms and phrases, including references to assumptions and forecasts of future results. Forward-looking statements are not guarantees of future performance and involve known and unknown risks, uncertainties and other factors which may cause the actual results to differ materially from those anticipated at the time the forward-looking statements are made. These risks include, but are not limited to: the duration and scope of the COVID-19 pandemic and its short and longer-term impact on the demand for travel, transient and group business, and levels of consumer confidence; actions governments, businesses and individuals take in response to the pandemic, including limiting travel or the size of gatherings; general economic uncertainty in U.S. markets where we own hotels and a worsening of economic conditions or low levels of economic growth in these markets; other changes (apart from the COVID-19 pandemic) in national and local economic and business conditions and other factors such as natural disasters and weather that will affect occupancy rates at our hotels and the demand for hotel products and services; the impact of geopolitical developments outside the U.S. on lodging demand; volatility in global financial and credit markets; operating risks associated with the hotel business; risks and limitations in our operating flexibility associated with the level of our indebtedness and our ability to meet covenants in our debt agreements; risks associated with our relationships with property managers and joint venture partners; our ability to maintain our properties in a first-class manner, including meeting capital expenditure requirements; the effects of hotel renovations on our hotel occupancy and financial results; our ability to compete effectively in areas such as access, location, quality of accommodations and room rate structures; risks associated with our ability to complete acquisitions and develop new properties and the risks that acquisitions and new developments may not perform in accordance with our expectations; our ability to continue to satisfy complex rules in order for us to remain a REIT for federal income tax purposes; risks associated with our ability to effectuate our dividend policy, including factors such as operating results and the economic outlook influencing our board's decision whether to pay further dividends at levels previously disclosed or to use available cash to make special dividends; and other risks and uncertainties associated with our business described in the Company's annual report on Form 10-K, quarterly reports on Form 10-Q and current reports on Form 8-K filed with the SEC. Although the Company believes the expectations reflected in such forward-looking statements are based upon reasonable assumptions, it can give no assurance that the expectations will be attained or that any deviation will not be material. All information in this release is as of November 2, 2022 and the Company undertakes no obligation to update any forward-looking statement to conform the statement to actual results or changes in the Company's expectations.

* This press release contains registered trademarks that are the exclusive property of their respective owners. None of the owners of these trademarks has any responsibility or liability for any information contained in this press release.

*** Tables to Follow ***

Host Hotels & Resorts, Inc., herein referred to as "we," "Host Inc.," or the "Company," is a self-managed and self-administered real estate investment trust that owns hotel properties. We conduct our operations as an umbrella partnership REIT through an operating partnership, Host Hotels & Resorts, L.P. ("Host LP"), of which we are the sole general partner. When distinguishing between Host Inc. and Host LP, the primary difference is approximately 1% of the partnership interests in Host LP held by outside partners as of September 30, 2022, which are non-controlling interests in Host LP in our consolidated balance sheets and are included in net (income) loss attributable to non-controlling interests in our consolidated statements of operations. Readers are encouraged to find further detail regarding our organizational structure in our annual report on Form 10-K.

HOST HOTELS & RESORTS, INC.

Condensed Consolidated Balance Sheets

(unaudited, in millions, except shares and per share amounts)

	September 30, 2022			December 31, 2021

ASSETS
Property and equipment, net	$	9,481		$	9,994
Right-of-use assets		558			551
Assets held for sale		—			270
Due from managers		118			113
Advances to and investments in affiliates		138			42
Furniture, fixtures and equipment replacement fund		187			144
Notes receivable		413			—
Other		389			431
Cash and cash equivalents		883			807
Total assets	$	12,167		$	12,352

LIABILITIES, NON-CONTROLLING INTERESTS AND EQUITY
Debt⁽¹⁾
Senior notes	$	3,113		$	3,109
Credit facility, including the term loans of $998 and $997, respectively		993			1,673
Mortgage and other debt		108			109
Total debt		4,214			4,891
Lease liabilities		570			564
Accounts payable and accrued expenses		162			85
Due to managers		74			42
Other		165			198
Total liabilities		5,185			5,780

Redeemable non-controlling interests - Host Hotels & Resorts, L.P.		165			126

Host Hotels & Resorts, Inc. stockholders' equity:
Common stock, par value $0.01, 1,050 million shares authorized, 714.9 million shares and 714.1 million shares issued and outstanding, respectively		7			7
Additional paid-in capital		7,738			7,702
Accumulated other comprehensive loss		(77	)		(76	)
Deficit		(856	)		(1,192	)
Total equity of Host Hotels & Resorts, Inc. stockholders		6,812			6,441
Non-redeemable non-controlling interests—other consolidated partnerships		5			5
Total equity		6,817			6,446
Total liabilities, non-controlling interests and equity	$	12,167		$	12,352

___________

^{(1) Please see our Third Quarter 2022 Supplemental Financial Information for more detail on our debt balances and financial covenant ratios under our credit facility and senior notes indentures.}

HOST HOTELS & RESORTS, INC.

Condensed Consolidated Statements of Operations

(unaudited, in millions, except per share amounts)

	Quarter ended September 30,						Year-to-date ended September 30,
	2022			2021			2022			2021
Revenues
Rooms	$	746		$	557		$	2,251		$	1,237
Food and beverage		330			191			1,032			405
Other		113			96			361			250
Total revenues		1,189			844			3,644			1,892
Expenses
Rooms		190			150			539			324
Food and beverage		230			146			675			313
Other departmental and support expenses		300			252			873			621
Management fees		48			27			150			59
Other property-level expenses		90			82			252			239
Depreciation and amortization		164			263			498			597
Corporate and other expenses⁽¹⁾		29			24			77			73
Gain on insurance and business interruption settlements		(10	)		(5	)		(17	)		(5	)
Total operating costs and expenses		1,041			939			3,047			2,221
Operating profit (loss)		148			(95	)		597			(329	)
Interest income		10			1			17			2
Interest expense		(40	)		(43	)		(113	)		(128	)
Other gains		5			2			19			4
Equity in earnings (losses) of affiliates		(1	)		2			3			36
Income (loss) before income taxes		122			(133	)		523			(415	)
Benefit (provision) for income taxes		(6	)		13			(29	)		81
Net income (loss)		116			(120	)		494			(334	)
Less: Net (income) loss attributable to non- controlling interests		(2	)		1			(8	)		3
Net income (loss) attributable to Host Inc.	$	114		$	(119	)	$	486		$	(331	)
Basic and diluted earnings (loss) per common share	$	0.16		$	(0.17	)	$	0.68		$	(0.47	)

___________

^{(1) Corporate and other expenses include the following items:}

	Quarter ended September 30,				Year-to-date ended September 30,
	2022		2021		2022		2021

General and administrative costs	$	20	$	20	$	58	$	60
Non-cash stock-based compensation expense		9		4		19		13
Total	$	29	$	24	$	77	$	73

HOST HOTELS & RESORTS, INC.

Earnings (Loss) per Common Share

(unaudited, in millions, except per share amounts)

	Quarter ended September 30,						Year-to-date ended September 30,
	2022			2021			2022			2021
Net income (loss)	$	116		$	(120	)	$	494		$	(334	)
Less: Net (income) loss attributable to non- controlling interests		(2	)		1			(8	)		3
Net income (loss) attributable to Host Inc.	$	114		$	(119	)	$	486		$	(331	)

Basic weighted average shares outstanding		714.9			713.9			714.7			709.0
Assuming distribution of common shares granted under the comprehensive stock plans, less shares assumed purchased at market		2.7			—			2.7			—
Diluted weighted average shares outstanding⁽¹⁾		717.6			713.9			717.4			709.0
Basic and diluted earnings (loss) per common share	$	0.16		$	(0.17	)	$	0.68		$	(0.47	)

___________

^{(1) Dilutive securities may include shares granted under comprehensive stock plans, preferred operating partnership units ("OP Units") held by minority partners and other non-controlling interests that have the option to convert their limited partnership interests to common OP Units. No effect is shown for any securities that were anti-dilutive for the period.}

HOST HOTELS & RESORTS, INC.

Hotel Operating Data for Consolidated Hotels⁽¹⁾⁽²⁾

All Owned Hotel Results by Location Compared to 2021

	As of September 30, 2022				Quarter ended September 30, 2022									Quarter ended September 30, 2021
Location	No. of Properties		No. of Rooms		Average Room Rate		Average Occupancy Percentage			RevPAR		Total RevPAR		Average Room Rate		Average Occupancy Percentage			RevPAR		Total RevPAR		Percent Change in RevPAR			Percent Change in Total RevPAR
Maui/Oahu		4		2,007	$	565.30		73.6	%	$	416.12	$	643.06	$	514.34		82.8	%	$	425.86	$	635.28		(2.3	)%		1.2	%
Miami		2		1,033		457.43		50.2			229.66		427.55		424.80		53.9			229.17		390.19		0.2			9.6
Jacksonville		1		446		487.53		67.0			326.67		707.75		465.60		68.7			319.90		683.35		2.1			3.6
Florida Gulf Coast		5		1,850		330.56		53.9			178.01		340.62		314.16		45.2			141.93		286.62		25.4			18.8
Orlando		2		2,448		327.78		61.4			201.23		427.58		332.90		37.4			124.35		228.19		61.8			87.4
Phoenix		4		1,822		251.77		58.1			146.25		372.05		245.88		57.7			141.92		321.83		3.0			15.6
Los Angeles/ Orange County		3		1,067		303.74		86.4			262.42		372.72		263.40		72.4			190.80		263.83		37.5			41.3
New York		2		2,486		309.77		84.3			260.99		351.90		238.23		45.3			107.97		138.91		141.7			153.3
San Diego		3		3,288		292.38		85.4			249.83		440.67		247.61		72.1			178.55		281.14		39.9			56.7
Austin		2		767		233.32		68.3			159.46		289.77		210.96		58.1			122.67		207.76		30.0			39.5
Philadelphia		2		810		221.65		85.9			190.48		286.56		191.85		79.1			151.74		223.07		25.5			28.5
Washington, D.C. (CBD)		5		3,238		237.56		65.7			156.01		223.72		185.06		37.1			68.65		96.94		127.3			130.8
Chicago		3		1,562		263.27		79.3			208.86		286.41		200.33		63.2			126.61		159.82		65.0			79.2
Seattle		2		1,315		264.88		81.9			216.97		274.62		202.49		53.5			108.25		130.03		100.4			111.2
San Francisco/ San Jose		6		4,162		244.45		71.3			174.35		249.76		165.10		50.0			82.54		105.04		111.2			137.8
Boston		2		1,495		263.46		63.8			167.99		223.00		202.75		60.3			122.31		149.10		37.3			49.6
Northern Virginia		2		916		214.33		67.2			144.06		219.78		187.15		58.9			110.22		162.40		30.7			35.3
Atlanta		2		810		183.46		72.8			133.57		199.97		163.07		64.8			105.67		146.59		26.4			36.4
San Antonio		2		1,512		190.72		64.5			122.96		194.39		181.30		55.8			101.18		149.13		21.5			30.3
New Orleans		1		1,333		163.33		63.6			103.87		158.20		136.76		54.3			74.30		91.66		39.8			72.6
Denver		3		1,340		197.50		76.5			151.18		214.65		169.25		65.4			110.75		141.64		36.5			51.5
Houston		5		1,942		176.72		62.1			109.74		149.01		149.60		66.6			99.67		133.88		10.1			11.3
Other		9		2,936		261.04		63.6			166.04		240.26		250.39		55.3			138.36		193.81		20.0			24.0
Domestic		72		40,585		278.18		69.9			194.55		311.41		244.92		56.6			138.57		211.96		40.4			46.9

International		5		1,499		200.98		62.0			124.66		162.44		90.99		51.4			46.77		66.43		166.5			144.5
All Locations		77		42,084		275.73		69.7			192.06		306.11		239.89		56.4			135.28		206.75		42.0			48.1

All Owned Hotel Results by Location Compared to 2019

	As of September 30, 2022				Quarter ended September 30, 2022									Quarter ended September 30, 2019
Location	No. of Properties		No. of Rooms		Average Room Rate		Average Occupancy Percentage			RevPAR		Total RevPAR		Average Room Rate		Average Occupancy Percentage			RevPAR		Total RevPAR		Percent Change in RevPAR			Percent Change in Total RevPAR
Maui/Oahu		4		2,007	$	565.30		73.6	%	$	416.12	$	643.06	$	385.51		91.5	%	$	352.78	$	554.15		18.0	%		16.0	%
Miami		2		1,033		457.43		50.2			229.66		427.55		259.69		76.2			197.80		341.68		16.1			25.1
Jacksonville		1		446		487.53		67.0			326.67		707.75		363.69		69.0			251.05		516.90		30.1			36.9
Florida Gulf Coast		5		1,850		330.56		53.9			178.01		340.62		242.93		61.6			149.63		302.07		19.0			12.8
Orlando		2		2,448		327.78		61.4			201.23		427.58		250.13		61.0			152.55		315.38		31.9			35.6
Phoenix		4		1,822		251.77		58.1			146.25		372.05		197.07		57.9			114.19		287.59		28.1			29.4
Los Angeles/ Orange County		3		1,067		303.74		86.4			262.42		372.72		271.42		86.6			235.06		344.41		11.6			8.2
New York		2		2,486		309.77		84.3			260.99		351.90		291.70		92.3			269.15		381.03		(3.0	)		(7.6	)
San Diego		3		3,288		292.38		85.4			249.83		440.67		256.92		83.5			214.41		372.78		16.5			18.2
Austin		2		767		233.32		68.3			159.46		289.77		213.65		84.4			180.39		304.72		(11.6	)		(4.9	)
Philadelphia		2		810		221.65		85.9			190.48		286.56		207.13		88.2			182.60		295.52		4.3			(3.0	)
Washington, D.C. (CBD)		5		3,238		237.56		65.7			156.01		223.72		211.15		84.4			178.19		254.63		(12.4	)		(12.1	)
Chicago		3		1,562		263.27		79.3			208.86		286.41		232.68		87.4			203.30		288.11		2.7			(0.6	)
Seattle		2		1,315		264.88		81.9			216.97		274.62		260.45		90.2			234.96		291.64		(7.7	)		(5.8	)
San Francisco/ San Jose		6		4,162		244.45		71.3			174.35		249.76		270.46		84.9			229.73		308.58		(24.1	)		(19.1	)
Boston		2		1,495		263.46		63.8			167.99		223.00		246.21		89.9			221.40		302.19		(24.1	)		(26.2	)
Northern Virginia		2		916		214.33		67.2			144.06		219.78		213.63		76.6			163.58		237.84		(11.9	)		(7.6	)
Atlanta		2		810		183.46		72.8			133.57		199.97		165.72		83.6			138.47		222.85		(3.5	)		(10.3	)
San Antonio		2		1,512		190.72		64.5			122.96		194.39		165.01		66.6			109.84		155.81		11.9			24.8
New Orleans		1		1,333		163.33		63.6			103.87		158.20		156.82		77.0			120.78		175.05		(14.0	)		(9.6	)
Denver		3		1,340		197.50		76.5			151.18		214.65		184.28		84.5			155.64		218.16		(2.9	)		(1.6	)
Houston		5		1,942		176.72		62.1			109.74		149.01		170.32		67.0			114.07		159.84		(3.8	)		(6.8	)
Other		9		2,936		261.04		63.6			166.04		240.26		198.34		79.1			156.91		241.19		5.8			(0.4	)
Domestic		72		40,585		278.18		69.9			194.55		311.41		240.95		79.7			191.95		299.74		1.4			3.9

International		5		1,499		200.98		62.0			124.66		162.44		159.14		75.9			120.86		166.88		3.1			(2.7	)
All Locations		77		42,084		275.73		69.7			192.06		306.11		238.14		79.5			189.39		294.96		1.4			3.8

All Owned Hotel Results by Location Compared to 2021

	As of September 30, 2022				Year-to-date ended September 30, 2022									Year-to-date ended September 30, 2021
Location	No. of Properties		No. of Rooms		Average Room Rate		Average Occupancy Percentage			RevPAR		Total RevPAR		Average Room Rate		Average Occupancy Percentage			RevPAR		Total RevPAR		Percent Change in RevPAR			Percent Change in Total RevPAR
Maui/Oahu		4		2,007	$	559.15		76.0	%	$	424.91	$	657.89	$	470.97		67.4	%	$	317.20	$	480.87		34.0	%		36.8	%
Miami		2		1,033		618.23		62.8			388.09		647.24		555.80		56.4			313.58		499.04		23.8			29.7
Jacksonville		1		446		533.33		69.5			370.85		799.91		506.77		57.8			293.02		587.76		26.6			36.1
Florida Gulf Coast		5		1,850		442.56		65.9			291.82		570.66		416.57		54.8			228.24		426.68		27.9			33.7
Orlando		2		2,448		395.30		64.4			254.71		498.62		398.72		27.3			108.98		196.25		133.7			154.1
Phoenix		4		1,822		366.88		69.1			253.45		551.73		301.23		56.5			170.12		346.53		49.0			59.2
Los Angeles/ Orange County		3		1,067		290.28		79.6			231.14		331.60		234.10		50.5			118.33		162.84		95.3			103.6
New York		2		2,486		305.98		68.8			210.55		297.35		200.01		34.6			69.19		85.45		204.3			248.0
San Diego		3		3,288		275.85		76.1			209.91		376.43		218.39		45.3			98.85		155.68		112.4			141.8
Austin		2		767		261.29		70.3			183.71		319.55		190.23		51.9			98.76		159.17		86.0			100.8
Philadelphia		2		810		212.19		79.8			169.40		258.46		169.58		58.7			99.52		147.38		70.2			75.4
Washington, D.C. (CBD)		5		3,238		258.02		60.5			156.14		222.68		161.96		42.2			68.41		81.26		128.2			174.0
Chicago		3		1,562		238.34		64.8			154.44		212.39		176.19		37.4			65.84		81.71		134.6			159.9
Seattle		2		1,315		234.51		64.1			150.37		194.36		188.47		27.8			52.43		63.79		186.8			204.7
San Francisco/ San Jose		6		4,162		230.51		63.1			145.43		208.62		155.78		31.4			48.92		63.32		197.3			229.5
Boston		2		1,495		246.01		57.4			141.27		186.74		173.03		37.5			64.82		80.96		117.9			130.6
Northern Virginia		2		916		215.60		65.3			140.83		212.13		177.75		45.4			80.62		118.44		74.7			79.1
Atlanta		2		810		181.26		72.2			130.94		204.64		152.57		54.5			83.14		112.32		57.5			82.2
San Antonio		2		1,512		194.11		67.3			130.73		201.94		160.63		40.8			65.54		95.17		99.5			112.2
New Orleans		1		1,333		196.59		65.3			128.42		187.76		128.95		37.6			48.51		65.71		164.7			185.7
Denver		3		1,340		183.44		63.9			117.14		169.54		149.35		42.1			62.95		80.24		86.1			111.3
Houston		5		1,942		180.33		63.4			114.29		158.00		140.32		59.7			83.73		113.03		36.5			39.8
Other		9		2,936		264.87		61.2			162.17		233.33		243.29		45.3			110.15		156.34		47.2			49.2
Domestic		72		40,585		296.19		66.6			197.36		320.69		249.37		44.0			109.63		169.48		80.0			89.2

International		5		1,499		159.59		53.6			85.55		120.75		85.10		28.0			23.85		34.15		258.8			253.6
All Locations		77		42,084		292.25		66.2			193.38		313.58		245.57		43.4			106.56		164.64		81.5			90.5

All Owned Hotel Results by Location Compared to 2019

	As of September 30, 2022				Year-to-date ended September 30, 2022									Year-to-date ended September 30, 2019
Location	No. of Properties		No. of Rooms		Average Room Rate		Average Occupancy Percentage			RevPAR		Total RevPAR		Average Room Rate		Average Occupancy Percentage			RevPAR		Total RevPAR		Percent Change in RevPAR			Percent Change in Total RevPAR
Maui/Oahu		4		2,007	$	559.15		76.0	%	$	424.91	$	657.89	$	401.92		90.9	%	$	365.45	$	577.41		16.3	%		13.9	%
Miami		2		1,033		618.23		62.8			388.09		647.24		356.95		80.6			287.82		463.01		34.8			39.8
Jacksonville		1		446		533.33		69.5			370.85		799.91		383.37		77.2			296.02		652.91		25.3			22.5
Florida Gulf Coast		5		1,850		442.56		65.9			291.82		570.66		340.73		72.8			247.94		507.99		17.7			12.3
Orlando		2		2,448		395.30		64.4			254.71		498.62		285.49		70.7			201.76		412.06		26.2			21.0
Phoenix		4		1,822		366.88		69.1			253.45		551.73		292.22		71.7			209.42		472.19		21.0			16.8
Los Angeles/ Orange County		3		1,067		290.28		79.6			231.14		331.60		262.50		84.7			222.39		335.37		3.9			(1.1	)
New York		2		2,486		305.98		68.8			210.55		297.35		290.81		82.3			239.46		368.99		(12.1	)		(19.4	)
San Diego		3		3,288		275.85		76.1			209.91		376.43		255.81		81.2			207.62		372.41		1.1			1.1
Austin		2		767		261.29		70.3

Host Hotels & Resorts, Inc. Reports Strong Third Quarter 2022 Operating Results; Acquires Four Seasons Resort and Residences Jackson Hole