Host Hotels & Resorts, Inc.HST
NasdaqGS•Real Estate•REIT - Hotel & Motel
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 property. We conduct our operations as an umbrella partnership, REIT, through an operating partnership, Host Hotels & Resorts, L.P., 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 December 31, 2025, 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 condensed consolidated statements of operations. Host Hotels & Resorts, Inc. is incorporated in 1927 and is based in Bethesda, Maryland.
Host Hotels & Resorts, Inc. (HST) reported trailing twelve months revenue of $6.17B as of March 2026, a 6.2% increase year-over-year. Quarterly revenue reached $1.65B, reflecting continued top-line momentum.
Host Hotels & Resorts, Inc. generated $1.01B in TTM net income, with quarterly EBITDA of $509.00M. The operating margin expanded from 17.9% to 19.4%, suggesting improving cost efficiency and pricing discipline.
The spread between operating margin (19.4%) and net margin (30.0%) indicates tight cost control with minimal non-operating drag. Net margin has improved from 15.6% a year ago, signaling stronger bottom-line efficiency.
HST trades at a P/E of 16.7x (in line with broad market averages) and a P/S of 2.7x. The price-to-book ratio of 2.5x reflects a moderate premium to book value.
The company generated $291.00M in free cash flow over the trailing twelve months, a 12.4% increase year-over-year, indicating cash generation ability. The balance sheet shows $13.15B in total assets with $5.08B in long-term debt against $6.83B in stockholders equity for a debt-to-equity ratio of 0.7. Data based on the most recent quarterly reports.
Competitive analysis based on 21 quarters of fundamental data
Operating margins are positive at ~14.4% on average, but show some variability — pricing power may be sensitive to market conditions.
ROE is positive at ~11.2% on average, adequate but below the threshold typically associated with wide moats.
Free cash flow is consistently positive and growing — a hallmark of a capital-light business that can self-fund growth.
TTM revenue has grown consistently (7 of 7 quarters up), with ~12.6% growth over the period. Strong demand durability.
Data-driven red flags and warnings across 21 quarters
Margins are stable or improving at ~14.1% — no sign of cost or pricing stress.
FCF covers net income by 1.8x on average — earnings are well-supported by cash generation.
D/E ratio is 0.7 — conservative capital structure with low financial risk.
Revenue is stable or growing over recent quarters — demand appears durable.
Free cash flow is consistently positive — the business self-funds without external capital reliance.
Shares decreased 2.4% — net buybacks are reducing shares outstanding and boosting per-share value.