Host Hotels raises FY23 adjusted FFO guidance to $1.84-$1.95 from $1.60-$1.83

Consensus $1.76. The company said, "Based on its strong first quarter performance coupled with its improved outlook for the rest of year, the Company raised its full-year comparable hotel RevPAR growth guidance to 7.5% to 10.5%. Further improvement in operations will continue to depend on the broader macroeconomic environment, which will affect the ability to maintain high-rated business in resort markets, as well as the continued improvement of group, business transient and international inbound travel. Given the significant macroeconomic uncertainty in the second half of 2023, the Company’s guidance contemplates varying degrees of a slowdown in 2023. In this context, the Company expects year-over-year comparable hotel RevPAR percentage changes in the second half of the year to be up low-single digits at the midpoint of guidance."