Host Hotels & Resorts (0J66) AI Stock Analysis

Company Guidance

Host raised its 2026 comparable hotel RevPAR and total RevPAR guidance to 4.75%–5.25% (midpoint ~5%, a 125‑bp raise), expects July comparable RevPAR ≈ +10% YoY and mid‑single‑digit RevPAR in H2, and estimates the World Cup added ~160 bps in Q2 and ~70 bps for the full year (special events net +50 bps FY). At the midpoint management now models comparable hotel EBITDA margin of 29.7% (up 50 bps YoY; guidance range +40–50 bps) and a full‑year adjusted EBITDAre midpoint of $1.83 billion (up ~$20M vs. prior), which includes ~$29M Don CeSar operations, ~$7M of business‑interruption proceeds and $16–20M of 4 Seasons condo EBITDA. Capital spending is guided to ~$550M–$630M (including $250M–$285M reinvestment, ~$25M–$30M Kona reconstruction, ~$2M remediation and ~$17M condo close‑out), Host expects ~$19M of operating‑profit guarantees in 2026 (received $5M in Q2), wage‑rate inflation of ~5% (≈50% of comparable hotel opex), an insurance renewal down 6% (≈$2.5M benefit), Maui to contribute ~45 bps to full‑year RevPAR and ~$120M of EBITDA in 2026, and a balance‑sheet with ~4.7‑year weighted average maturity at ~4.8% rate, ~ $1.5B revolver availability and leverage ~2.2x after the July dividends.