HST · 10-Q · 2026Q2 · Full report
Acquisition / Partnership / Divestiture
HOST HOTELS & RESORTS, INC. · 2026-08-07 · Importance 52 · Surprise 42 · In source text
Host is executing a Hyatt transformational capital program across six portfolio properties, with expected investment of approximately $125 million to $200 million annually through 2027 and total investment of approximately $550 million to $600 million. As of June 30, 2026, approximately 88% of the estimated Hyatt program costs had been spent, and the Grand Hyatt Washington renovation was completed during the second quarter. Host also agreed with Marriott International in 2025 to invest $300 million to $350 million through 2029 across four properties. Hyatt and Marriott are providing priority returns and operating-profit guarantees of approximately $40 million and $18 million, respectively, to offset expected business disruption.
Key facts
- The table of significant dispositions shows total net proceeds of $1,094 million and total sales price of $1,163 million for dispositions completed through August 5, 2026. source
- The February disposition of the two Four Seasons properties had net proceeds of $1,035 million and a sales price of $1,100 million. source
- Year-to-date other gains totaled $241 million in 2026 reflecting the sales of The St. Regis Houston, the Four Seasons Resort Orlando at Walt Disney World Resort, the Four Seasons Resort and Residences Jackson Hole and the Sheraton Parsippany Hotel. source
- Revenue reduction of $95 million in the second quarter due to dispositions of specific hotels in 2025 and 2026. source
- Condominium sales recognized: $53 million in the quarter and $79 million year-to-date in 2026 from sales adjacent to the Four Seasons Resort Orlando. source
- During the second quarter of 2026, Host sold the Sheraton Parsippany Hotel for $12 million, which includes approximately $3.5 million of FF&E funds retained by Host. source
- Cash provided by investing activities in 2026 included proceeds from the sale of four hotels. source
Impact estimates
| metric | direction | stage | expected | basis |
|---|---|---|---|---|
| net_income | positive | realized | +14.7% | Year-to-date other gains totaled $241 million in 2026 reflecting the sales of The St. Regis Houston, the Four Seasons Resort Orlando at… |
| cash | positive | realized | +8.3% | The table of significant dispositions shows total net proceeds of $1,094 million and total sales price of $1,163 million for dispositions… |
| revenue | negative | realized | -5.8% | Revenue reduction of $95 million in the second quarter due to dispositions of specific hotels in 2025 and 2026. |
| revenue | positive | realized | +3.2% | Condominium sales recognized: $53 million in the quarter and $79 million year-to-date in 2026 from sales adjacent to the Four Seasons… |
| cash | positive | realized | +0.1% | During the second quarter of 2026, Host sold the Sheraton Parsippany Hotel for $12 million, which includes approximately $3.5 million of… |
| assets | negative | realized | -0.1% | During the second quarter of 2026, Host sold the Sheraton Parsippany Hotel for $12 million, which includes approximately $3.5 million of… |