Host Hotels & Resorts increased its full-year 2026 profit and revenue guidance after posting a 7% rise in comparable hotel revenue per available room (RevPAR) for the second quarter of 2026. The growth was led by a deliberate revenue management strategy and strong demand during the FIFA World Cup, alongside recovery trends in the Maui resort market.
World Cup and Maui Drive RevPAR Increase
The company attributed approximately 160 basis points of the Q2 RevPAR growth to the FIFA World Cup, with host-city hotels seeing a 15% increase in June 2026. Non-World Cup markets also experienced a 12% rise in RevPAR during the same month as some
travellers sought alternative destinations. Resort revenue per available room climbed 9%, driven by strong performances in Maui, 1 Hotel South Beach, and Florida Gulf properties. Maui’s RevPAR surged 14%, with occupancy up over eight percentage points and golf revenues exceeding pre-fire levels by 9%. Host Hotels forecasts the Maui properties to contribute around $120 million in EBITDA for 2026, with potential for an additional $20 million to $25 million upon full market stabilization.
Second-Quarter Financial Performance
Adjusted EBITDAre rose 5.8% to $525 million in Q2 2026. Adjusted funds from operations (FFO) per share grew 8.6% to $0.63. Comparable hotel EBITDA margin expanded 60
basis points to 31.9% due to lower fixed costs and efficiency improvements. The company forecasted comparable hotel expense growth of 4.2% for 2026, below the expected 5% wage-rate rise, helped by a 6% decrease in property insurance renewal costs which reduced expenses by $2.5 million.
Group and Transient Demand Statistics
Group room revenue increased 7% in Q2 2026, supported equally by rate and room-night growth. Host Hotels sold 1.1 million group room nights during the quarter, with 3.8 million definite group room nights on the books for 2026, representing an 8% increase since March 31. The total group revenue pace for 2026 is up more
than 5%, with Q4 pace nearing 10%. Business transient revenue rose 4%, aided by a 14% spike in business transient room nights at the New York Marriott Marquis, driven by demand from technology, consulting, and finance sectors. The company acquired 210,000 room nights for the remainder of 2026 in Q2, exceeding 167,000 a year earlier, with corporate groups making up two-thirds of the increase.
Capital Allocation and Outlook Updates
Host Hotels sold the Sheraton Parsippany property for approximately $12 million as part of portfolio optimization. In July 2026, it paid a quarterly dividend of $0.20 per share and a special dividend of $0.72 per share
distributing $500 million in taxable gains from the Four Seasons sale. The $2.1 billion reinvestment program progressed as planned, with the Hyatt program nearly 90% complete and the Marriott program 37% complete. At the Four Seasons Resort Orlando, 28 out of 40 condominium units closed in Q2 2026, generating $8 million in EBITDA, while full-year condo EBITDA guidance was lowered to $16–$20 million.
Host Hotels raised its 2026 comparable hotel RevPAR growth outlook to a range of 4.75% to 5.25%, a 125 basis-point increase at the midpoint, with adjusted EBITDAre midpoint guidance up by $20 million to $1.83 billion. The
company now anticipates comparable hotel EBITDA margin expansion of 40 to 50 basis points for 2026. July 2026 comparable hotel RevPAR is expected to increase about 10%, with roughly three percentage points attributable to World Cup effects. Holiday bookings for Q4 2026 are pacing in double digits. The company forecasts mid-single-digit RevPAR growth for Q3 and Q4 2026, with full-year rate growth around 4% and occupancy gains of 60 basis points.
Leverage remained moderate at 2.2 times following the July dividend payment, with $3 billion in available liquidity and a weighted-average debt maturity of 4.7 years at a 4.8% interest
rate. CEO Jim Risoleo emphasized a disciplined acquisition approach, investing only when unlevered internal rate of return thresholds are met.
