HST · 10-Q · 2026Q3 · Full report

Liquidity and Debt Position

HOST HOTELS & RESORTS, INC. · 2026-11-06 · Importance 56 · Surprise 24 · In source text

At September 30, 2026, Host had $1.492 billion of cash and cash equivalents, $157 million in FF&E escrow reserves, and $1.5 billion available under its revolver; post-quarter acquisitions and the dividend reduced cash by approximately $500 million. Total debt was $5.1 billion, with a 4.8% weighted-average interest rate and 4.4-year weighted-average maturity, increasing to 5.2 years after the credit-facility restatement. The October 21 restatement replaced $1.5 billion of revolving capacity and two $500 million term-loan tranches, extending maturities to January 2031 and January 2032; $500 million was outstanding under each new term facility and nothing was outstanding under the revolver apart from letters of credit. At September 30, leverage was 2.0x versus a 7.25x maximum, fixed-charge coverage was 5.8x versus a 1.25x minimum, and unsecured interest coverage was 7.6x versus a 1.75x minimum.

Key facts

• Subsequent to quarter-end, Host amended and restated its $2.5 billion credit facility, extending the maturities of the revolver and outstanding term loans, improving its credit ratings-based pricing grid and retaining sustainability-linked pricing incentives. source
• On October 21, 2026, Host L.P. refinanced its $1.5 billion revolver tranche due January 2027 with a new revolving tranche of the same commitment amount. source
• Host L.P. may add up to $1.25 billion of future revolving and/or term-loan commitments under the restated credit facility, subject to additional commitments and specified conditions. source
• The October 21, 2026 credit-facility restatement replaced a $500 million term loan due January 2027 and a $500 million term loan due January 2028 with new term facilities of the same principal amounts. source
• The restated credit facility provides a foreign-currency subfacility equivalent to up to $500 million for Canadian dollars, Australian dollars, euros, pounds sterling, and, if available, Mexican pesos, subject to a lower amount for Mexican-peso borrowings. source
• The restated credit facility includes up to $100 million for swingline borrowings and up to $100 million for letters of credit, with no scheduled amortization before facility maturities. source
• The post-quarter acquisitions and payment of the Q3 dividend reduced Host's cash balance by approximately $500 million. source
• As of September 30, 2026, Host's total debt was $5.1 billion, with a 4.8% weighted-average interest rate and a 4.4-year weighted-average maturity; following the credit-facility restatement, weighted-average maturity increased to 5.2 years. source

Impact estimates