Host said total revenues for Q2 2024 and year-to-date rose 5.2% and 5.9%, respectively, compared with 2023, citing the reopening of The Ritz-Carlton, Naples and the Nashville Acquisition in April 2024 as the main drivers.

1. 01

   Host said total revenues for Q2 2024 and year-to-date rose 5.2% and 5.9%, respectively, compared with 2023, citing the reopening of The Ritz-Carlton, Naples and the Nashville Acquisition in April 2024 as the main drivers.

2. 02

   The company said group revenue rose 7.7% for Q2 compared with 2023, while transient revenue fell 5.0%. It attributed the transient decline to the impact of the Maui wildfires and moderating leisure demand.

3. 03

   Host said Host L.P. issued $600 million of 5.700% Series K senior notes in May 2024 to raise $584 million and used $215 million to repay the remaining revolver borrowings. It also said it paid $954 million after quarter end to complete the acquisitions.

4. 04

   As of June 30, 2024, Host had $805 million in cash and cash equivalents and $1.5 billion available under the revolver, the company said. It also said it repurchased 2.8 million shares of common stock for a total of $50 million in Q2 2024.

Key figures

Quarter ended June 30, 2024

Revenue

$1.5B

Operating income

$292M

Net income

$239M

EPS

$0.34

Analysis scope · Management's discussion (MD&A)We analyzed excerpts of the Management's Discussion and Analysis (MD&A) section (with omissions). Other sections of the report, such as the notes to the financial statements and risk factors, were not reviewed.

AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

The filing as submitted to SEC EDGAR. You can check the figures and statements of this summary against it.