Owns luxury and upper-upscale hotels that provide lodging for business and leisure travelers and groups.
10-K for FY2025, filed Feb 25, 2026We are the largest publicly traded lodging REIT, with a geographically diverse portfolio of luxury and upper-upscale hotels. As of February…View ↗
Resorts in destination locations with limited supply growth. These assets feature superior amenities and unique experiential offerings…View ↗
Our customers fall into three broad groups: transient business, group business and contract business, which accounted for approximately…View ↗
Guests and event customers pay for rooms, food and beverage, and other hotel services as those services are provided; Host generally receives cash distributions from its hotel managers each month.
10-K for FY2025, filed Feb 25, 2026Substantially all of our operating results represent revenues and expenses generated by property-level operations. Payments are due from…View ↗
Rooms revenues represent revenues from the occupancy of our hotel rooms and are driven by the occupancy and average daily rate charged.…View ↗
Food and beverage revenues consist of revenues from group functions, which may include banquet revenues and audio-visual revenues, as well…View ↗
Our Revenues and Expenses. Our hotels are operated by third-party managers under long-term agreements, pursuant to which they typically…View ↗
10-K for FY2025, filed Feb 25, 2026
FY2025 revenue by product or service ↗$6.1B
10-K for FY2025, filed Feb 25, 2026
$6.1B ↗| Segment | Share | Revenue | How money arrives |
|---|---|---|---|
|
Rooms
Usage-based
10-K for FY2025, filed Feb 25, 2026 |
59%
FY2022: 61%
|
Rooms, FY2025
$3.6B Sources
|
Usage-based |
|
Food and beverage
Sold outright
10-K for FY2025, filed Feb 25, 2026 |
29%
FY2022: 29%
|
Food and beverage, FY2025
$1.8B Sources
|
Sold outright |
|
Other
|
9.9%
FY2022: 9.7%
|
Other, FY2025
$604M Sources
|
|
|
Condominium sales
|
1.6% |
Condominium sales, FY2025
$99M Sources
|
Hotel customers include transient business travelers, group business customers and contract business customers.
10-K for FY2025, filed Feb 25, 2026Our customers fall into three broad groups: transient business, group business and contract business, which accounted for approximately…View ↗
Yes. It kept 13 cents of every revenue dollar as net income in FY2025.
10-K for FY2025, filed Feb 25, 2026
10-Q for Q2 FY2026, filed Aug 7, 2026
Open tableView ↗
8-K, filed Aug 5, 2026
Raises Full Year 2026 Comparable Hotel Total RevPAR and RevPAR Growth Guidance Ranges to 4.75% to 5.25%View ↗
Growing. Revenue grew 2.1x in 4 years, from $2.9B in FY2021 to $6.1B in FY2025, about 21% a year.
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