Host Hotels & Resorts Investor Relations Material

Host Hotels & Resorts, Inc. is an American real estate investment trust (REIT) and one of the largest owners of luxury and upper-upscale hotels in the country. The company's portfolio primarily consists of properties in key urban and resort markets in the U.S., but it also includes international holdings across the Americas. It is headquartered in Bethesda, Maryland, and its shares are listed on the Nasdaq.

The company has its roots in the Marriott Corporation and was originally known as Host Marriott. In 1993, Marriott underwent a significant restructuring and split into two separate companies: Marriott International, which continued the hotel management and franchise business, and Host Marriott Corporation, which took over the ownership of hotel properties. This move marked Host's transition to focusing primarily on real estate investment in the hospitality sector. In 1999, Host Marriott Corporation converted into a REIT, and the company got its current name in 2005.

Host Hotels & Resorts specializes in the acquisition, management, and renovation of upscale hospitality properties. The company strategically focuses on high-end, well-positioned hotels that command a premium cost per stay. Host frequently partners with large hotel chains such as Hyatt Hotels and Hilton Worldwide, and these partnerships are central to its business model. The company can let the partnering companies handle the marketing and operational aspects of the properties while it generates revenue from leasing out the properties.

A REIT is a type of company that owns, and in some cases operates, income-producing real estate. The primary characteristic of REITs is that they must distribute at least 90% of their taxable income to shareholders annually in the form of dividends. Investors in REITs earn a share of the income produced without having to buy, manage, or finance any properties themselves. This makes REITs an accessible way for individuals to invest in large-scale, income-producing real estate, combining the potential for capital appreciation with the income generation of dividends.