Host Hotels & Resorts reported a 7% increase in comparable hotel revenue per available room (RevPAR) for the second quarter of 2026 compared to the same period last year, supported by strong rate management and event-driven demand. Adjusted earnings before interest, taxes, depreciation, amortization and rent (EBITDAre) rose 5.8% to $525 million, while adjusted funds from operations (FFO) per share increased 8.6% to $0.63, according to BigGo Finance.
Second Quarter Performance Driven by Strategic Rate Management and Event Demand
Host’s CEO Jim Risoleo attributed the 7% RevPAR growth to a deliberate revenue management strategy that prioritized higher rates at luxury resorts and transient demand markets, including those hosting FIFA World Cup
matches. Transient revenue increased by 7%, its strongest quarterly gain in seven quarters, despite a slight decline in overall room nights.
Business transient revenue grew 4%, with a significant 14% rise in business transient room nights at the New York Marriott Marquis, fueled by demand from technology, consulting and finance sectors. Group room revenue rose 7%, split evenly between rate increases and room-night growth, with 1.1 million group room nights sold in the quarter.
World Cup and Maui Recovery Boost RevPAR and Revenue
The FIFA World Cup contributed roughly 160 basis points to second-quarter RevPAR growth. In June 2026, hotels in World Cup host cities saw a 15% RevPAR
increase, while non-host markets achieved a 12% rise, reflecting strong traveler interest and some avoidance of congested areas.
Resort RevPAR increased 9%, led by Maui, 1 Hotel South Beach, and Florida Gulf properties. Maui’s market recovery showed a 14% RevPAR improvement and occupancy gains exceeding eight percentage points. Golf revenue in Maui is now 9% above pre-fire levels. Host Hotels expects Maui properties to generate approximately $120 million in EBITDA for 2026, with an additional $20 million to $25 million EBITDA potential once the market fully stabilizes.
Stronger Group Bookings and Capital Moves
Definite group room nights booked for 2026 reached 3.8 million, an 8% rise
since March, with the total group revenue pace for the year increasing more than 5%, accelerating to nearly 10% in the fourth quarter. Host Hotels added 210,000 group room nights for the remainder of the year during Q2, compared to 167,000 in the prior year, with corporate groups comprising two-thirds of this growth.
During Q2 2026, Host sold the Sheraton Parsippany for approximately $12 million, part of the company’s strategy to divest lower-growth assets. In July, Host Hotels paid a quarterly dividend of $0.20 per share and a special dividend of $0.72 per share, distributing a $500 million taxable gain
from the sale of Four Seasons properties.
Revised 2026 Outlook and Financial Position
Host Hotels raised its full-year 2026 comparable hotel RevPAR growth guidance to a range of 4.75% to 5.25%, lifting the midpoint by 125 basis points. The adjusted EBITDAre midpoint was increased by $20 million to $1.83 billion, while comparable hotel EBITDA margin expansion expectations were raised by 20 basis points to 40–50 basis points.
July 2026 RevPAR is projected to grow approximately 10% year-over-year. Holiday bookings for Labor Day, Thanksgiving, and the festive season are pacing up in double digits for Q4 2026. Expense growth for the full year is forecast at 4.2%,
below the 5% wage-rate increase, helped by productivity gains and a 6% reduction in property-insurance renewal costs, lowering expenses by $2.5 million.
Host’s leverage ratio stood at 2.2 times after the July dividend, with $3 billion in available liquidity. The weighted-average debt maturity is 4.7 years, and the average interest rate on debt is 4.8%. CEO Risoleo emphasized disciplined capital allocation, noting ongoing transaction underwritings but maintaining high unlevered IRR thresholds for acquisitions.
At Four Seasons Orlando, 28 of 40 condo units closed in Q2, generating $8 million in EBITDA. Full-year condo EBITDA guidance was adjusted to $16 million to
$20 million due to some closings shifting into 2027. The company’s $2.1 billion reinvestment program remains on schedule and under budget, with the Hyatt Transformational Capital Program nearly 90% complete and a second Marriott program 37% complete.
Host Hotels expects EBITDA at 1 Hotel South Beach to rise from $35 million in prior forecasts to over $65 million in 2026, underscoring the company’s focus on high-performing assets.
“We delivered a strong second quarter, building on the momentum of the first quarter, again exceeding our expectations,” Risoleo said. He reiterated, “The rate-driven RevPAR growth was not an accident. That was a
revenue management strategy we employed across the portfolio.”
