{"id":906570,"date":"2025-11-05T22:07:02","date_gmt":"2025-11-06T03:07:02","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/host-hotels-resorts-inc-reports-results-for-the-third-quarter-2025\/"},"modified":"2025-11-05T22:07:02","modified_gmt":"2025-11-06T03:07:02","slug":"host-hotels-resorts-inc-reports-results-for-the-third-quarter-2025","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/host-hotels-resorts-inc-reports-results-for-the-third-quarter-2025\/","title":{"rendered":"Host Hotels & Resorts, Inc. Reports Results for the Third Quarter 2025"},"content":{"rendered":"
\n

\n Quarterly Comparable Hotel Total RevPAR Growth of 0.8% and Comparable Hotel RevPAR Growth of 0.2%<\/strong>
\n
\n Raises Full Year Comparable Hotel RevPAR Growth Guidance to ~3.0% Over 2024<\/strong>
\n
\n Announces Second Marriott Transformational Capital Program<\/strong>
\n
\n Completed Sale of Washington Marriott at Metro Center<\/strong>\n <\/p>\n

BETHESDA, Md., Nov. 05, 2025 (GLOBE NEWSWIRE) — Host Hotels & Resorts, Inc. (NASDAQ: HST) (the \u201cCompany\u201d), the nation\u2019s largest lodging real estate investment trust (\u201cREIT\u201d), today announced results for the third quarter of 2025.<\/p>\n

\n OPERATING RESULTS<\/strong>
\n
(unaudited, in millions, except per share and hotel statistics)<\/p>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\u00a0<\/td>\n\n Quarter ended<\/strong>
\n
\n September 30,<\/strong>\n <\/td>\n		\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n Year-to-date ended
September 30,<\/strong>\n <\/td>\n		\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\n 2025<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n 2024<\/strong>\n <\/td>\n\u00a0<\/td>\n\n Percent
Change<\/strong>\n <\/td>\n		\u00a0<\/td>\n\u00a0<\/td>\n\n 2025<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n 2024<\/strong>\n <\/td>\n\u00a0<\/td>\n\n Percent
Change<\/strong>\n <\/td>\n<\/tr>\n
Revenues<\/td>\n$<\/td>\n1,331<\/td>\n\u00a0<\/td>\n$<\/td>\n1,319<\/td>\n\u00a0<\/td>\n0.9<\/td>\n%<\/td>\n\u00a0<\/td>\n$<\/td>\n4,511<\/td>\n\u00a0<\/td>\n$<\/td>\n4,256<\/td>\n\u00a0<\/td>\n6.0<\/td>\n%<\/td>\n<\/tr>\n
Comparable hotel revenues\u207d\u00b9\u207e<\/td>\n\u00a0<\/td>\n1,293<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n1,282<\/td>\n\u00a0<\/td>\n0.9<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n4,388<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n4,245<\/td>\n\u00a0<\/td>\n3.4<\/td>\n%<\/td>\n<\/tr>\n
Comparable hotel Total RevPAR\u207d\u00b9\u207e<\/td>\n\u00a0<\/td>\n335.42<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n332.67<\/td>\n\u00a0<\/td>\n0.8<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n383.54<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n369.71<\/td>\n\u00a0<\/td>\n3.7<\/td>\n%<\/td>\n<\/tr>\n
Comparable hotel RevPAR\u207d\u00b9\u207e<\/td>\n\u00a0<\/td>\n208.07<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n207.58<\/td>\n\u00a0<\/td>\n0.2<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n229.95<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n222.10<\/td>\n\u00a0<\/td>\n3.5<\/td>\n%<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Net income<\/td>\n$<\/td>\n163<\/td>\n\u00a0<\/td>\n$<\/td>\n84<\/td>\n\u00a0<\/td>\n94.0<\/td>\n%<\/td>\n\u00a0<\/td>\n$<\/td>\n639<\/td>\n\u00a0<\/td>\n$<\/td>\n598<\/td>\n\u00a0<\/td>\n6.9<\/td>\n%<\/td>\n<\/tr>\n
EBITDAre<\/em>\u207d\u00b9\u207e<\/td>\n\u00a0<\/td>\n314<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n353<\/td>\n\u00a0<\/td>\n(11.0<\/td>\n%)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n1,313<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n1,359<\/td>\n\u00a0<\/td>\n(3.4<\/td>\n%)<\/td>\n<\/tr>\n
Adjusted EBITDAre<\/em>\u207d\u00b9\u207e<\/td>\n\u00a0<\/td>\n319<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n330<\/td>\n\u00a0<\/td>\n(3.3<\/td>\n%)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n1,329<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n1,300<\/td>\n\u00a0<\/td>\n2.2<\/td>\n%<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Diluted earnings per common share<\/td>\n$<\/td>\n0.23<\/td>\n\u00a0<\/td>\n$<\/td>\n0.12<\/td>\n\u00a0<\/td>\n91.7<\/td>\n%<\/td>\n\u00a0<\/td>\n$<\/td>\n0.91<\/td>\n\u00a0<\/td>\n$<\/td>\n0.84<\/td>\n\u00a0<\/td>\n8.3<\/td>\n%<\/td>\n<\/tr>\n
NAREIT FFO per diluted share\u207d\u00b9\u207e<\/td>\n\u00a0<\/td>\n0.34<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n0.36<\/td>\n\u00a0<\/td>\n(5.6<\/td>\n%)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n1.54<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n1.53<\/td>\n\u00a0<\/td>\n0.7<\/td>\n%<\/td>\n<\/tr>\n
Adjusted FFO per diluted share\u207d\u00b9\u207e<\/td>\n\u00a0<\/td>\n0.35<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n0.36<\/td>\n\u00a0<\/td>\n(2.8<\/td>\n%)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n1.56<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n1.55<\/td>\n\u00a0<\/td>\n0.6<\/td>\n%<\/td>\n<\/tr>\n<\/table>\n
    \n
  • \n Additional detail on the Company\u2019s results, including <\/em>
    \n data<\/em>
    \n for <\/em>
    \n 24 domestic markets<\/em>
    \n , is available in the <\/em>
    \n Third<\/em>
    \n Quarter <\/em>
    \n 2025<\/em>
    \n Supplemental Financial Information on the Company\u2019s website at<\/em> www.hosthotels.com.<\/li>\n<\/ul>\n

    James F. Risoleo, President and Chief Executive Officer, said, \u201cOur strong third quarter results reflect our company’s continued positive momentum and industry leadership. We delivered better than expected comparable hotel Total RevPAR growth of 0.8% over the third quarter of 2024, driven by strong transient demand leading to improvements in room revenues and ancillary spend. Comparable hotel RevPAR also outperformed our expectations, increasing 0.2% over the third quarter of last year, driven by higher rates across the portfolio and improving leisure transient trends in Maui. As a result of our outperformance, we now expect comparable hotel RevPAR growth of approximately 3.0% and comparable hotel Total RevPAR growth of approximately 3.4% over 2024, exceeding the high end of our previously announced guidance ranges.”<\/p>\n

    Risoleo continued, \u201cWe continued to actively manage our portfolio with the sale of the Washington Marriott at Metro Center in the third quarter and made additional progress on our portfolio reinvestments. We are very pleased to have entered into a new agreement with Marriott to complete transformational renovations at four properties in our portfolio. We believe Host is well positioned to benefit from favorable demand trends as a result of our investment-grade balance sheet, our size and scale, our diversified business and geographic mix, and our continued reinvestment in our portfolio.\u201d<\/p>\n

    _______________________________
    (1) NAREIT Funds From Operations (\u201cFFO\u201d) per diluted share, Adjusted FFO per diluted share, EBITDAre<\/em>, Adjusted EBITDAre <\/em>and comparable hotel revenues are non-GAAP (U.S. generally accepted accounting principles) financial measures within the meaning of the rules of the Securities and Exchange Commission (\u201cSEC\u201d). See the Notes to Financial Information on why the Company believes these supplemental measures are useful, reconciliations to the most directly comparable GAAP measure, and the limitations on the use of these supplemental measures. Additionally, comparable hotel results and statistics include adjustments for dispositions, acquisitions and non-comparable hotels. See Hotel Operating Data for RevPAR results of the portfolio based on the Company’s ownership period without these adjustments.<\/p>\n

    \n HIGHLIGHTS:<\/strong>\n <\/p>\n

      \n
    • Comparable hotel Total RevPAR was $335.42 for the third quarter of 2025, representing an increase of 0.8% compared to the same period in 2024, due to improvements in room revenues and ancillary spend driven by increased transient demand. Comparable hotel Total RevPAR year-to-date in 2025 was $383.54, an increase of 3.7%.<\/li>\n
    • Comparable hotel RevPAR was $208.07 for the third quarter of 2025, representing an increase of 0.2%, compared to the same period in 2024, driven primarily by increases in room rates and strong transient leisure demand, along with the continuing recovery in Maui, which collectively offset an expected decrease in group demand. Comparable hotel RevPAR year-to-date in 2025 was $229.95, an increase of 3.5%.<\/li>\n
    • GAAP net income was $163 million for the third quarter of 2025, reflecting a 94.0% increase compared to the third quarter of 2024, benefitting from the gain on sale in the quarter. GAAP operating profit margin was 7.6%, a decline of 260 basis points compared to the third quarter of 2024, driven by a $24 million decrease in net gains on insurance settlements. Year-to-date GAAP net income was $639 million, a 6.9% increase compared to 2024, also benefitting from gains on sales, and operating profit margin was 14.7%, a decline of 220 basis points compared to 2024, reflecting a decline of $92 million in net gains on insurance settlements.<\/li>\n
    • Comparable hotel EBITDA was $309 million for the third quarter of 2025, a decrease of 1.3% compared to the third quarter of 2024, reflecting a comparable hotel EBITDA margin decrease of 50 basis points to 23.9%, due to increases in wages and benefits expense. Year-to-date, comparable hotel EBITDA was $1,283 million, an increase of 2.0% compared to 2024, while comparable hotel EBITDA margin decreased 40 basis points to 29.2%.<\/li>\n
    • Adjusted EBITDAre was $319 million for the third quarter of 2025, a decrease of 3.3% compared to the third quarter of 2024, as improvements in revenues did not offset the increase in expenses primarily from higher wages and benefits. Year-to-date Adjusted EBITDAre<\/em> was $1,329\u00a0million, exceeding 2024 by 2.2%, as improvements in room rates and earnings from the 2024 acquisitions more than offset the decline in business interruption proceeds and the increases in wages and benefits.<\/li>\n
    • Sold Washington Marriott at Metro Center for $177 million and recorded a gain on sale of approximately $122 million in the third quarter. In connection with the sale, the Company provided seller financing of $114 million.<\/li>\n
    • Received business interruption proceeds of $5 million in July, as previously reported, related to damages caused by Hurricanes Helene and Milton at The Don CeSar in 2024. To date, a total of $40 million of insurance proceeds have been received related to the claims, of which $24 million is related to business interruption proceeds. The final phases of the reconstruction at The Don CeSar were completed in the third quarter, and all amenities are fully reopened at the property.<\/li>\n
    • Reached an agreement with Marriott International to complete a second transformational capital program at four properties over a four-year period. These portfolio investments are designed to better position the assets to compete in their respective markets and enhance long-term performance. The Company expects to spend between $300 million and $350 million through 2029. In exchange, Marriott has provided enhanced owner priority returns on the agreed upon investments and operating profit guarantees of approximately $22 million, including $1 million in each of the third and fourth quarters of 2025, to offset expected business disruption.<\/li>\n
    • Moody’s upgraded the Company’s credit rating to Baa2 with a stable outlook. In its press release, Moody\u2019s cited the Company\u2019s solid operating performance and maintenance of a conservative financial profile as evidenced by its low leverage, strong fixed charge coverage, and almost fully unencumbered property portfolio. Moody’s also noted The Company’s high-quality portfolio, which has been enhanced through meaningful capital investments over the past several years.1<\/sup><\/li>\n<\/ul>\n

      \n 1<\/sup> A securities rating is not a recommendation to buy, sell or hold securities and may be subject to revision or withdrawal at any time. Credit ratings are subject to change depending on financial and other factors<\/p>\n

      \n BALANCE SHEET<\/strong>\n <\/p>\n

      The Company maintains a robust balance sheet, with the following balances at September\u00a030, 2025:<\/p>\n

        \n
      • Total assets of $13.0 billion.<\/li>\n
      • Debt balance of $5.1 billion, with a weighted average maturity of 5.2 years, a weighted average interest rate of 4.9%, and a balanced maturity schedule.<\/li>\n
      • Total available liquidity of approximately $2.2 billion, including furniture, fixtures and equipment escrow reserves of $205 million and $1.5 billion available under the revolver portion of the credit facility.<\/li>\n<\/ul>\n

        \n DIVIDENDS<\/strong>\n <\/p>\n

        The Company paid a third quarter common stock cash dividend of $0.20 per share on October\u00a015, 2025 to stockholders of record on September\u00a030, 2025. All future dividends, including any special dividends, are subject to approval by the Company\u2019s Board of Directors.<\/p>\n

        \n HOTEL BUSINESS MIX UPDATE<\/strong>\n <\/p>\n

        The Company\u2019s customers fall into three broad groups: transient, group and contract business, which accounted for approximately 60%, 36%, and 4%, respectively, of its full year 2024 room sales. As expected, group room nights for the third quarter were down year-over-year as a result of planned renovations under the Hyatt Transformational Capital Program and a shift in the timing of holidays.<\/p>\n

        The following are the results for transient, group and contract business in comparison to 2024, for the Company’s current portfolio:<\/p>\n\n\n\n\n\n\n\n
        \u00a0<\/td>\n\n Quarter ended September 30, 2025<\/strong>\n <\/td>\n\u00a0<\/td>\n\n Year-to-date ended September 30, 2025<\/strong>\n <\/td>\n<\/tr>\n
        \u00a0<\/td>\n\n Transient<\/strong>\n <\/td>\n\u00a0<\/td>\n\n Group<\/strong>\n <\/td>\n\u00a0<\/td>\n\n Contract<\/strong>\n <\/td>\n\u00a0<\/td>\n\n Transient<\/strong>\n <\/td>\n\u00a0<\/td>\n\n Group<\/strong>\n <\/td>\n\u00a0<\/td>\n\n Contract<\/strong>\n <\/td>\n<\/tr>\n
        Room nights (in thousands)<\/td>\n\u00a0<\/td>\n1,535<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n928<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n219<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n4,383<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n3,127<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n616<\/td>\n\u00a0<\/td>\n<\/tr>\n
        Percent change in room nights vs. same period in 2024<\/td>\n\u00a0<\/td>\n(1.2<\/td>\n%)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(7.8<\/td>\n%)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n11.6<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u2014<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(4.7<\/td>\n%)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n12.5<\/td>\n%<\/td>\n<\/tr>\n
        Rooms revenues (in millions)<\/td>\n$<\/td>\n507<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n249<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n46<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n1,571<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n926<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n134<\/td>\n\u00a0<\/td>\n<\/tr>\n
        Percent change in revenues vs. same period in 2024<\/td>\n\u00a0<\/td>\n1.7<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(4.7<\/td>\n%)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n14.5<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n4.6<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(0.9<\/td>\n%)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n18.8<\/td>\n%<\/td>\n<\/tr>\n<\/table>\n

        \n CAPITAL EXPENDITURES<\/strong>\n <\/p>\n

        The following presents the Company\u2019s capital expenditures spend through the third quarter of 2025 and the forecast for the full year 2025 (in millions):<\/p>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
        \u00a0<\/td>\n\n Year-to-date
        ended September
        30, 2025<\/strong>\n <\/td>\n        		\u00a0<\/td>\n\n 2025 <\/strong>
        \n Full Year Forecast<\/strong>\n <\/td>\n<\/tr>\n
        \u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
        \u00a0<\/td>\n\n Actual<\/strong>\n <\/td>\n\u00a0<\/td>\n\n Low-end of
        range<\/strong>\n <\/td>\n        		\u00a0<\/td>\n\n High-end of
        range<\/strong>\n <\/td>\n<\/tr>\n
        ROI – Marriott and Hyatt Transformational Capital Programs<\/td>\n$<\/td>\n114<\/td>\n\u00a0<\/td>\n$<\/td>\n190<\/td>\n\u00a0<\/td>\n$<\/td>\n195<\/td>\n<\/tr>\n
        All other return on investment (“ROI”) projects<\/td>\n\u00a0<\/td>\n70<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n90<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n100<\/td>\n<\/tr>\n
        Total ROI Projects<\/td>\n\u00a0<\/td>\n184<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n280<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n295<\/td>\n<\/tr>\n
        Renewals and Replacements (“R&R”)<\/td>\n\u00a0<\/td>\n200<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n250<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n265<\/td>\n<\/tr>\n
        R&R and ROI Capital expenditures<\/td>\n\u00a0<\/td>\n384<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n530<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n560<\/td>\n<\/tr>\n
        R&R – Property Damage Reconstruction<\/td>\n\u00a0<\/td>\n70<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n75<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n80<\/td>\n<\/tr>\n
        Total Capital Expenditures<\/td>\n$<\/td>\n454<\/td>\n\u00a0<\/td>\n$<\/td>\n605<\/td>\n\u00a0<\/td>\n$<\/td>\n640<\/td>\n<\/tr>\n
        \u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
        Inventory spend for condo development(1)<\/sup><\/td>\n\u00a0<\/td>\n67<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n80<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n85<\/td>\n<\/tr>\n
        Total capital allocation<\/td>\n$<\/td>\n521<\/td>\n\u00a0<\/td>\n$<\/td>\n685<\/td>\n\u00a0<\/td>\n$<\/td>\n725<\/td>\n<\/tr>\n<\/table>\n

        __________
        (1)\u00a0\u00a0\u00a0\u00a0Represents construction costs for the development of condominium units on a land parcel adjacent to Four Seasons Resort Orlando at Walt Disney World\u00ae Resort. Under GAAP, costs to develop units for resale are considered an operating activity on the statement of cash flows, and categorized as inventory. This spend is separate from payments for capital expenditures, which are considered investing activities.<\/p>\n

        Under the Hyatt Transformational Capital Program, the Company received $8 million of operating guarantees in the third quarter of 2025. The Company substantially completed the transformational renovation of the Hyatt Regency Capitol Hill and, subsequent to quarter end, completed the Hyatt Regency Austin, two of the six assets included in the Hyatt Transformational Capital Program, and expects to receive $24\u00a0million of operating guarantees for the full year to offset expected business disruptions.<\/p>\n

        \n 2025 OUTLOOK <\/strong>\n <\/p>\n

        Comparable hotel RevPAR performance exceeded expectations in the third quarter, leading to an improved forecast for the full year, even as short-term group volume remains soft. Following October estimated results of 5.5% growth in comparable hotel RevPAR over the same period in 2024, the revised guidance assumes limited impacts from the government shutdown, which is comparable to what was experienced in October.<\/p>\n

        The guidance includes an expected decline in operating profit margin and comparable hotel EBITDA margin due to growth in wages and a decrease in business interruption proceeds, as compared to 2024. The guidance for net income and Adjusted EBITDAre increased since the prior quarter, reflecting the higher room rates achieved. Any additional insurance amounts related to Hurricanes Helene and Milton are still under discussion with insurance carriers, with a final determination expected in 2026; therefore, no additional amounts are included in guidance. The guidance for net income and Adjusted EBITDAre also includes an estimated $16 million contribution from sales expected to close in the fourth quarter at the condominium development adjacent to the Four Seasons Resort Orlando at Walt Disney\u00ae Resort. The anticipated 2025 contribution from the condominium development has declined $5 million from previous guidance as eight of the contracts signed thus far have been for the villas, which are anticipated to close in 2026. It is important to note the expectations for the overall project have not changed, and sales prices and project costs are on target.<\/p>\n

        The Company anticipates its 2025 operating results as compared to 2024 will be approximately as follows:<\/p>\n\n\n\n\n\n\n\n
        \u00a0<\/td>\n\n Current Full Year
        2025 Guidance<\/strong>\n <\/td>\n        		\u00a0<\/td>\n\n Current Full Year
        2025 Guidance
        Change vs. 2024<\/strong>\n <\/td>\n        		\u00a0<\/td>\n\n Previous Full Year
        2025 Guidance
        Midpoint Change
        vs. 2024<\/strong>\n <\/td>\n        		\u00a0<\/td>\n\n Change in Full Year
        2025 Guidance<\/strong>\n <\/td>\n<\/tr>\n
        Comparable hotel Total RevPAR<\/td>\n$380<\/td>\n\u00a0<\/td>\n3.4%<\/td>\n\u00a0<\/td>\n2.5%<\/td>\n\u00a0<\/td>\n90 bps<\/td>\n<\/tr>\n
        Comparable hotel RevPAR<\/td>\n$227<\/td>\n\u00a0<\/td>\n3.0%<\/td>\n\u00a0<\/td>\n2.0%<\/td>\n\u00a0<\/td>\n100 bps<\/td>\n<\/tr>\n
        Total revenues under GAAP (in millions)<\/td>\n$6,060<\/td>\n\u00a0<\/td>\n6.6%<\/td>\n\u00a0<\/td>\n7.0%<\/td>\n\u00a0<\/td>\n(40) bps<\/td>\n<\/tr>\n
        Operating profit margin under GAAP<\/td>\n13.9%<\/td>\n\u00a0<\/td>\n(150) bps<\/td>\n\u00a0<\/td>\n(190) bps<\/td>\n\u00a0<\/td>\n40 bps<\/td>\n<\/tr>\n
        Comparable hotel EBITDA margin<\/td>\n28.8%<\/td>\n\u00a0<\/td>\n(50) bps<\/td>\n\u00a0<\/td>\n(70) bps<\/td>\n\u00a0<\/td>\n20 bps<\/td>\n<\/tr>\n<\/table>\n

        Based upon the above parameters, the Company estimates its 2025 guidance will be approximately as follows:<\/p>\n\n\n\n\n\n\n\n
        \u00a0<\/td>\n\n Current Full Year
        2025 Guidance<\/strong>\n <\/td>\n        		\u00a0<\/td>\n\n Previous Full Year
        2025 Guidance
        Midpoint<\/strong>\n <\/td>\n        		\u00a0<\/td>\n\n Change in Full Year
        2025 Guidance<\/strong>\n <\/td>\n<\/tr>\n
        Net income (in millions)<\/td>\n$780<\/td>\n\u00a0<\/td>\n$616<\/td>\n\u00a0<\/td>\n$164<\/td>\n<\/tr>\n
        Adjusted EBITDAre (in millions)<\/td>\n$1,730<\/td>\n\u00a0<\/td>\n$1,705<\/td>\n\u00a0<\/td>\n$25<\/td>\n<\/tr>\n
        Diluted earnings per common share<\/td>\n$1.11<\/td>\n\u00a0<\/td>\n$0.88<\/td>\n\u00a0<\/td>\n$0.24<\/td>\n<\/tr>\n
        NAREIT FFO per diluted share<\/td>\n$2.00<\/td>\n\u00a0<\/td>\n$1.97<\/td>\n\u00a0<\/td>\n$0.03<\/td>\n<\/tr>\n
        Adjusted FFO per diluted share<\/td>\n$2.03<\/td>\n\u00a0<\/td>\n$2.00<\/td>\n\u00a0<\/td>\n$0.03<\/td>\n<\/tr>\n<\/table>\n

        See the 2025 Forecast Schedules and the Notes to Financial Information for items that may affect forecast results.<\/p>\n

        \n ABOUT HOST HOTELS & RESORTS<\/strong>\n <\/p>\n

        Host Hotels & Resorts, Inc. is an S&P 500 company and is the largest lodging real estate investment trust and one of the largest owners of luxury and upper-upscale hotels. The Company currently owns 74 properties in the United States and five properties internationally totaling approximately 42,500 rooms. The Company also holds non-controlling interests in seven domestic joint ventures. Guided by a disciplined approach to capital allocation and aggressive asset management, the Company partners with premium brands such as Marriott\u00ae<\/sup>, Ritz-Carlton\u00ae<\/sup>, Westin\u00ae<\/sup>, Sheraton\u00ae<\/sup>, W\u00ae<\/sup>, The Luxury Collection\u00ae<\/sup>, Hyatt\u00ae<\/sup>, Fairmont\u00ae<\/sup>, 1 Hotels\u00ae<\/sup>, Hilton\u00ae<\/sup>, Four Seasons\u00ae<\/sup>, Swiss\u00f4tel\u00ae<\/sup>, ibis\u00ae<\/sup> and Novotel\u00ae<\/sup>, as well as independent brands. For additional information, please visit the Company\u2019s website at www.hosthotels.com.<\/p>\n

        \n Note: This press release <\/em>
        \n contains forward-looking statements within the meaning of federal securities regulations. These forward-looking statements include, but may not be limited to, our expectations regarding the recovery of travel and the lodging industry, the impact of the Maui wildfires and 2025<\/em>
        \n estimates with respect to our business, including our anticipated capital expenditures and financial and operating results. Forward-looking statements are not guarantees of future performance and involve known and unknown risks, uncertainties and other factors which may cause the actual results to differ materially from those anticipated at the time the forward-looking statements are made. These risks include, but are not limited to, those described in the Company\u2019s annual report on Form 10-K and other filings with the SEC. Although the Company believes the expectations reflected in such forward-looking statements are based upon reasonable assumptions, it can give no assurance that the expectations will be attained or that any deviation will not be material. <\/em>
        \n All information in this release is as of <\/em>
        \n November\u00a05, 2025, and the Company undertakes no obligation to update any forward-looking statement to conform the statement to actual results or changes in the Company\u2019s expectations. <\/em>\n <\/p>\n

        * This press release contains registered trademarks that are the exclusive property of their respective owners. None of the owners of these trademarks have any responsibility or liability for any information contained in this press release. <\/p>\n

        *** Tables to Follow ***<\/p>\n

        Host Hotels & Resorts, Inc., herein referred to as \u201cwe,\u201d \u201cHost Inc.,\u201d or the \u201cCompany,\u201d is a self-managed and self-administered real estate investment trust that owns hotel properties. We conduct our operations as an umbrella partnership REIT through an operating partnership, Host Hotels & Resorts, L.P. (\u201cHost LP\u201d), of which we are the sole general partner. When distinguishing between Host Inc. and Host LP, the primary difference is approximately 1% of the partnership interests in Host LP held by outside partners as of September\u00a030, 2025, which are non-controlling interests in Host LP in our consolidated balance sheets and are included in net (income) loss attributable to non-controlling interests in our condensed consolidated statements of operations. Readers are encouraged to find further detail regarding our organizational structure in our annual report on Form 10-K.<\/p>\n

        \n \n <\/p>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
        \n HOST HOTELS & RESORTS, INC.<\/strong>
        \n
        \n Condensed Consolidated Balance Sheets<\/strong>
        \n
        (unaudited, in millions, except shares and per share amounts)
        <\/strong><\/td>\n<\/tr>\n
        \u00a0<\/td>\n<\/tr>\n
        \u00a0<\/td>\n\u00a0<\/td>\n\n September 30,<\/strong>
        \n
        \n 2025<\/strong>\n <\/td>\n        		\u00a0<\/td>\n\n December 31,
        2024<\/strong>\n <\/td>\n<\/tr>\n
        \u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
        \n ASSETS<\/strong>\n <\/td>\n<\/tr>\n
        Property and equipment, net<\/td>\n\u00a0<\/td>\n$<\/td>\n10,670<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n10,906<\/td>\n\u00a0<\/td>\n<\/tr>\n
        Right-of-use assets<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n561<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n559<\/td>\n\u00a0<\/td>\n<\/tr>\n
        Assets held for sale<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n32<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u2014<\/td>\n\u00a0<\/td>\n<\/tr>\n
        Due from managers<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n101<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n36<\/td>\n\u00a0<\/td>\n<\/tr>\n
        Advances to and investments in affiliates<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n217<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n166<\/td>\n\u00a0<\/td>\n<\/tr>\n
        Furniture, fixtures and equipment replacement fund<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n205<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n242<\/td>\n\u00a0<\/td>\n<\/tr>\n
        Notes receivable<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n114<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n79<\/td>\n\u00a0<\/td>\n<\/tr>\n
        Other<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n601<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n506<\/td>\n\u00a0<\/td>\n<\/tr>\n
        Cash and cash equivalents<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n539<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n554<\/td>\n\u00a0<\/td>\n<\/tr>\n
        Total assets<\/td>\n\u00a0<\/td>\n$<\/td>\n13,040<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n13,048<\/td>\n\u00a0<\/td>\n<\/tr>\n
        \u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
        \n LIABILITIES, NON-CONTROLLING INTERESTS AND EQUITY<\/strong>\n <\/td>\n<\/tr>\n
        Debt\u207d\u00b9\u207e<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
        Senior notes<\/td>\n\u00a0<\/td>\n$<\/td>\n3,988<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n3,993<\/td>\n\u00a0<\/td>\n<\/tr>\n
        Credit facility, including the term loans of $999 and $998, respectively<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n995<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n992<\/td>\n\u00a0<\/td>\n<\/tr>\n
        Mortgage and other debt<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n96<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n98<\/td>\n\u00a0<\/td>\n<\/tr>\n
        Total debt<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n5,079<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n5,083<\/td>\n\u00a0<\/td>\n<\/tr>\n
        Lease liabilities<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n564<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n560<\/td>\n\u00a0<\/td>\n<\/tr>\n
        Accounts payable and accrued expenses<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n260<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n351<\/td>\n\u00a0<\/td>\n<\/tr>\n
        Due to managers<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n60<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n54<\/td>\n\u00a0<\/td>\n<\/tr>\n
        Other<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n264<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n223<\/td>\n\u00a0<\/td>\n<\/tr>\n
        Total liabilities<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n6,227<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n6,271<\/td>\n\u00a0<\/td>\n<\/tr>\n
        \u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
        Redeemable non-controlling interests – Host Hotels\u00a0& Resorts, L.P.<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n149<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n165<\/td>\n\u00a0<\/td>\n<\/tr>\n
        \u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
        Host Hotels & Resorts, Inc. stockholders\u2019 equity:<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
        Common stock, par value $0.01, 1,050 million shares authorized, 687.7 million shares and 699.1 million shares issued and outstanding, respectively<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n7<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n7<\/td>\n\u00a0<\/td>\n<\/tr>\n
        Additional paid-in capital<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n7,284<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n7,462<\/td>\n\u00a0<\/td>\n<\/tr>\n
        Accumulated other comprehensive loss<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(67<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(83<\/td>\n)<\/td>\n<\/tr>\n
        Deficit<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(563<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(777<\/td>\n)<\/td>\n<\/tr>\n
        Total equity of Host Hotels & Resorts, Inc. stockholders<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n6,661<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n6,609<\/td>\n\u00a0<\/td>\n<\/tr>\n
        Non-redeemable non-controlling interests\u2014other consolidated partnerships<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n3<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n3<\/td>\n\u00a0<\/td>\n<\/tr>\n
        Total equity<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n6,664<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n6,612<\/td>\n\u00a0<\/td>\n<\/tr>\n
        Total liabilities, non-controlling interests and equity<\/td>\n\u00a0<\/td>\n$<\/td>\n13,040<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n13,048<\/td>\n\u00a0<\/td>\n<\/tr>\n<\/table>\n

        __________<\/p>\n

        (1)\u00a0\u00a0\u00a0\u00a0Please see our Third Quarter 2025 Supplemental Financial Information for more detail on our debt balances and financial covenant ratios under our credit facility and senior notes indentures.<\/p>\n

        \n \n <\/p>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
        \n HOST HOTELS & RESORTS, INC.<\/strong>
        \n
        \n Condensed Consolidated Statements of Operations<\/strong>
        \n
        (unaudited, in millions, except per share amounts)
        <\/strong><\/td>\n<\/tr>\n
        \u00a0<\/td>\n<\/tr>\n
        \u00a0<\/td>\n\u00a0<\/td>\n\n Quarter ended<\/strong>
        \n
        \n September 30,<\/strong>\n <\/td>\n        		\u00a0<\/td>\n\n Year-to-date ended
        September 30,<\/strong>\n <\/td>\n<\/tr>\n
        \u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n 2025<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n 2024<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n 2025<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n 2024<\/strong>\n <\/td>\n\u00a0<\/td>\n<\/tr>\n
        \n Revenues<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
        Rooms<\/td>\n\u00a0<\/td>\n$<\/td>\n826<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n825<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n2,713<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n2,563<\/td>\n\u00a0<\/td>\n<\/tr>\n
        Food and beverage<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n364<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n365<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n1,345<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n1,285<\/td>\n\u00a0<\/td>\n<\/tr>\n
        Other<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n141<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n129<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n453<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n408<\/td>\n\u00a0<\/td>\n<\/tr>\n
        Total revenues<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n1,331<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n1,319<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n4,511<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n4,256<\/td>\n\u00a0<\/td>\n<\/tr>\n
        \n Expenses<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
        Rooms<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n222<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n216<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n680<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n632<\/td>\n\u00a0<\/td>\n<\/tr>\n
        Food and beverage<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n278<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n267<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n914<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n848<\/td>\n\u00a0<\/td>\n<\/tr>\n
        Other departmental and support expenses<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n357<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n345<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n1,096<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n1,022<\/td>\n\u00a0<\/td>\n<\/tr>\n
        Management fees<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n52<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n55<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n191<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n193<\/td>\n\u00a0<\/td>\n<\/tr>\n
        Other property-level expenses<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n103<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n108<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n321<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n313<\/td>\n\u00a0<\/td>\n<\/tr>\n
        Depreciation and amortization<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n196<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n197<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n587<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n565<\/td>\n\u00a0<\/td>\n<\/tr>\n
        Corporate and other expenses\u207d\u00b9\u207e<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n27<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n25<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n83<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n81<\/td>\n\u00a0<\/td>\n<\/tr>\n
        Net gain on insurance settlements<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(5<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(29<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(24<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(116<\/td>\n)<\/td>\n<\/tr>\n
        Total operating costs and expenses<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n1,230<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n1,184<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n3,848<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n3,538<\/td>\n\u00a0<\/td>\n<\/tr>\n
        \n Operating profit<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n101<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n135<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n663<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n718<\/td>\n\u00a0<\/td>\n<\/tr>\n
        Interest income<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n7<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n11<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n22<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n43<\/td>\n\u00a0<\/td>\n<\/tr>\n
        Interest expense<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(60<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(59<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(175<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(156<\/td>\n)<\/td>\n<\/tr>\n
        Other gains<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n122<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n1<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n148<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n1<\/td>\n\u00a0<\/td>\n<\/tr>\n
        Equity in earnings of affiliates<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n2<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n2<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n16<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n12<\/td>\n\u00a0<\/td>\n<\/tr>\n
        \n Income before income taxes<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n172<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n90<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n674<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n618<\/td>\n\u00a0<\/td>\n<\/tr>\n
        Provision for income taxes<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(9<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(6<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(35<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(20<\/td>\n)<\/td>\n<\/tr>\n
        \n Net income<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n163<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n84<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n639<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n598<\/td>\n\u00a0<\/td>\n<\/tr>\n
        Less: Net income attributable to non-controlling interests<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(2<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(2<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(9<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(9<\/td>\n)<\/td>\n<\/tr>\n
        \n Net income attributable to Host Inc.<\/strong>\n <\/td>\n\u00a0<\/td>\n$<\/td>\n161<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n82<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n630<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n589<\/td>\n\u00a0<\/td>\n<\/tr>\n
        \n Basic and diluted earnings per common share<\/strong>\n <\/td>\n\u00a0<\/td>\n$<\/td>\n0.23<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n0.12<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n0.91<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n0.84<\/td>\n\u00a0<\/td>\n<\/tr>\n<\/table>\n

        ___________<\/p>\n

        (1)\u00a0\u00a0\u00a0\u00a0Corporate and other expenses include the following items:<\/p>\n\n\n\n\n\n\n
        \u00a0<\/td>\n\u00a0<\/td>\n\n Quarter ended<\/strong>
        \n
        \n September 30,<\/strong>\n <\/td>\n        		\u00a0<\/td>\n\n Year-to-date ended
        September 30,<\/strong>\n <\/td>\n<\/tr>\n
        \u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n 2025<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n 2024<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n 2025<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n 2024<\/strong>\n <\/td>\n<\/tr>\n
        General and administrative costs<\/td>\n\u00a0<\/td>\n$<\/td>\n22<\/td>\n\u00a0<\/td>\n$<\/td>\n19<\/td>\n\u00a0<\/td>\n$<\/td>\n67<\/td>\n\u00a0<\/td>\n$<\/td>\n64<\/td>\n<\/tr>\n
        Non-cash stock-based compensation expense<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n5<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n6<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n16<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n17<\/td>\n<\/tr>\n
        Total<\/td>\n\u00a0<\/td>\n$<\/td>\n27<\/td>\n\u00a0<\/td>\n$<\/td>\n25<\/td>\n\u00a0<\/td>\n$<\/td>\n83<\/td>\n\u00a0<\/td>\n$<\/td>\n81<\/td>\n<\/tr>\n<\/table>\n

        \n \n <\/p>\n\n\n\n\n\n\n\n\n\n\n\n\n\n
        \n HOST HOTELS & RESORTS, INC.<\/strong>
        \n
        \n Earnings per Common Share\u00a0<\/strong>
        \n
        (unaudited, in millions, except per share amounts)
        <\/strong><\/td>\n<\/tr>\n
        \u00a0<\/td>\n<\/tr>\n
        \u00a0<\/td>\n\u00a0<\/td>\n\n Quarter ended September 30,<\/strong>\n <\/td>\n\u00a0<\/td>\n\n Year-to-date ended September 30,<\/strong>\n <\/td>\n<\/tr>\n
        \u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n 2025<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n 2024<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n 2025<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n 2024<\/strong>\n <\/td>\n\u00a0<\/td>\n<\/tr>\n
        Net income<\/td>\n\u00a0<\/td>\n$<\/td>\n163<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n84<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n639<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n598<\/td>\n\u00a0<\/td>\n<\/tr>\n
        Less: Net income attributable to non-controlling interests<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(2<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(2<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(9<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(9<\/td>\n)<\/td>\n<\/tr>\n
        Net income attributable to Host Inc.<\/td>\n\u00a0<\/td>\n$<\/td>\n161<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n82<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n630<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n589<\/td>\n\u00a0<\/td>\n<\/tr>\n
        \u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
        Basic weighted average shares outstanding<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n687.5<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n700.9<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n692.6<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n703.1<\/td>\n\u00a0<\/td>\n<\/tr>\n
        Assuming distribution of common shares granted under the comprehensive stock plans, less shares assumed purchased at market<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n2.0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n1.5<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n1.9<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n1.6<\/td>\n\u00a0<\/td>\n<\/tr>\n
        Diluted weighted average shares outstanding\u207d\u00b9\u207e<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n689.5<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n702.4<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n694.5<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n704.7<\/td>\n\u00a0<\/td>\n<\/tr>\n
        Basic and diluted earnings per common share<\/td>\n\u00a0<\/td>\n$<\/td>\n0.23<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n0.12<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n0.91<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n0.84<\/td>\n\u00a0<\/td>\n<\/tr>\n<\/table>\n

        ___________
        (1) Dilutive securities may include shares granted under comprehensive stock plans, preferred operating partnership units (\u201cOP Units\u201d) held by non-controlling limited partners and other non-controlling interests that have the option to convert their limited partnership interests to common OP Units. No effect is shown for any securities that were anti-dilutive for the period.<\/p>\n

        \n \n <\/p>\n

        \n HOST HOTELS & RESORTS, INC.
        Hotel Operating Data for Consolidated Hotels
        <\/strong>\n <\/p>\n

        \n Comparable Hotel Results by Location<\/strong>
        \n
        \n (1)<\/strong>
        \n <\/sup>\n <\/p>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
        \u00a0<\/td>\nAs of September\u00a030, 2025<\/td>\n\u00a0<\/td>\nQuarter ended September 30, 2025<\/td>\n\u00a0<\/td>\nQuarter ended September 30, 2024<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
        \n Location<\/strong>\n <\/td>\nNo. of
        Properties<\/td>\n        		\u00a0<\/td>\nNo. of
        Rooms<\/td>\n        		\u00a0<\/td>\nAverage
        Room\u00a0Rate<\/td>\n        		\u00a0<\/td>\nAverage
        Occupancy
        Percentage<\/td>\n        		\u00a0<\/td>\nRevPAR<\/td>\n\u00a0<\/td>\nTotal
        RevPAR<\/td>\n        		\u00a0<\/td>\nAverage
        Room\u00a0Rate<\/td>\n        		\u00a0<\/td>\nAverage
        Occupancy
        Percentage<\/td>\n        		\u00a0<\/td>\nRevPAR<\/td>\n\u00a0<\/td>\nTotal
        RevPAR<\/td>\n        		\u00a0<\/td>\nPercent
        Change\u00a0in
        RevPAR<\/td>\n        		\u00a0<\/td>\nPercent
        Change\u00a0in
        Total RevPAR<\/td>\n<\/tr>\n
        Maui<\/td>\n3<\/td>\n\u00a0<\/td>\n1,580<\/td>\n\u00a0<\/td>\n$<\/td>\n611.54<\/td>\n\u00a0<\/td>\n69.9<\/td>\n%<\/td>\n\u00a0<\/td>\n$<\/td>\n427.23<\/td>\n\u00a0<\/td>\n$<\/td>\n675.34<\/td>\n\u00a0<\/td>\n$<\/td>\n626.00<\/td>\n\u00a0<\/td>\n57.0<\/td>\n%<\/td>\n\u00a0<\/td>\n$<\/td>\n356.87<\/td>\n\u00a0<\/td>\n$<\/td>\n569.42<\/td>\n\u00a0<\/td>\n19.7<\/td>\n%<\/td>\n\u00a0<\/td>\n18.6<\/td>\n%<\/td>\n<\/tr>\n
        Jacksonville<\/td>\n1<\/td>\n\u00a0<\/td>\n446<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n516.44<\/td>\n\u00a0<\/td>\n72.4<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n374.11<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n826.86<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n500.84<\/td>\n\u00a0<\/td>\n71.6<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n358.59<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n805.21<\/td>\n\u00a0<\/td>\n4.3<\/td>\n%<\/td>\n\u00a0<\/td>\n2.7<\/td>\n%<\/td>\n<\/tr>\n
        Oahu(2)<\/sup><\/td>\n2<\/td>\n\u00a0<\/td>\n876<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n481.95<\/td>\n\u00a0<\/td>\n83.8<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n403.71<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n620.81<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n458.26<\/td>\n\u00a0<\/td>\n81.6<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n373.80<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n562.08<\/td>\n\u00a0<\/td>\n8.0<\/td>\n%<\/td>\n\u00a0<\/td>\n10.4<\/td>\n%<\/td>\n<\/tr>\n
        Miami<\/td>\n2<\/td>\n\u00a0<\/td>\n1,038<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n387.67<\/td>\n\u00a0<\/td>\n59.1<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n229.04<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n433.63<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n366.49<\/td>\n\u00a0<\/td>\n59.2<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n216.89<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n414.64<\/td>\n\u00a0<\/td>\n5.6<\/td>\n%<\/td>\n\u00a0<\/td>\n4.6<\/td>\n%<\/td>\n<\/tr>\n
        Florida Gulf Coast<\/td>\n4<\/td>\n\u00a0<\/td>\n1,529<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n375.39<\/td>\n\u00a0<\/td>\n42.7<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n160.16<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n350.93<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n321.25<\/td>\n\u00a0<\/td>\n55.6<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n178.55<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n382.02<\/td>\n\u00a0<\/td>\n(10.3<\/td>\n%)<\/td>\n\u00a0<\/td>\n(8.1<\/td>\n%)<\/td>\n<\/tr>\n
        New York<\/td>\n3<\/td>\n\u00a0<\/td>\n2,720<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n400.99<\/td>\n\u00a0<\/td>\n88.9<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n356.36<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n487.87<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n379.23<\/td>\n\u00a0<\/td>\n87.5<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n331.84<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n447.06<\/td>\n\u00a0<\/td>\n7.4<\/td>\n%<\/td>\n\u00a0<\/td>\n9.1<\/td>\n%<\/td>\n<\/tr>\n
        Phoenix<\/td>\n3<\/td>\n\u00a0<\/td>\n1,545<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n262.62<\/td>\n\u00a0<\/td>\n61.9<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n162.56<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n410.51<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n269.17<\/td>\n\u00a0<\/td>\n54.5<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n146.75<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n374.60<\/td>\n\u00a0<\/td>\n10.8<\/td>\n%<\/td>\n\u00a0<\/td>\n9.6<\/td>\n%<\/td>\n<\/tr>\n
        Nashville<\/td>\n2<\/td>\n\u00a0<\/td>\n721<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n330.15<\/td>\n\u00a0<\/td>\n77.6<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n256.22<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n449.68<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n335.61<\/td>\n\u00a0<\/td>\n80.5<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n270.28<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n435.21<\/td>\n\u00a0<\/td>\n(5.2<\/td>\n%)<\/td>\n\u00a0<\/td>\n3.3<\/td>\n%<\/td>\n<\/tr>\n
        Orlando<\/td>\n2<\/td>\n\u00a0<\/td>\n2,448<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n346.50<\/td>\n\u00a0<\/td>\n53.4<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n185.18<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n421.34<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n312.21<\/td>\n\u00a0<\/td>\n60.3<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n188.39<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n426.35<\/td>\n\u00a0<\/td>\n(1.7<\/td>\n%)<\/td>\n\u00a0<\/td>\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0(1.2<\/td>\n%)<\/td>\n<\/tr>\n
        Los Angeles\/Orange County<\/td>\n3<\/td>\n\u00a0<\/td>\n1,067<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n308.01<\/td>\n\u00a0<\/td>\n76.7<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n236.26<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n354.62<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n303.51<\/td>\n\u00a0<\/td>\n81.9<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n248.54<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n369.47<\/td>\n\u00a0<\/td>\n(4.9<\/td>\n%)<\/td>\n\u00a0<\/td>\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0(4.0<\/td>\n%)<\/td>\n<\/tr>\n
        San Diego<\/td>\n3<\/td>\n\u00a0<\/td>\n3,294<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n302.44<\/td>\n\u00a0<\/td>\n76.9<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n232.44<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n410.75<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n305.38<\/td>\n\u00a0<\/td>\n84.2<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n257.27<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n455.83<\/td>\n\u00a0<\/td>\n(9.7<\/td>\n%)<\/td>\n\u00a0<\/td>\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0(9.9<\/td>\n%)<\/td>\n<\/tr>\n
        Boston<\/td>\n2<\/td>\n\u00a0<\/td>\n1,496<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n297.49<\/td>\n\u00a0<\/td>\n79.6<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n236.86<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n303.04<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n301.09<\/td>\n\u00a0<\/td>\n84.4<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n253.98<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n316.86<\/td>\n\u00a0<\/td>\n(6.7<\/td>\n%)<\/td>\n\u00a0<\/td>\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0(4.4<\/td>\n%)<\/td>\n<\/tr>\n
        Washington, D.C. (CBD)<\/td>\n4<\/td>\n\u00a0<\/td>\n2,786<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n265.42<\/td>\n\u00a0<\/td>\n56.6<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n150.31<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n232.09<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n263.04<\/td>\n\u00a0<\/td>\n67.1<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n176.54<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n266.46<\/td>\n\u00a0<\/td>\n(14.9<\/td>\n%)<\/td>\n\u00a0<\/td>\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0(12.9<\/td>\n%)<\/td>\n<\/tr>\n
        Philadelphia<\/td>\n2<\/td>\n\u00a0<\/td>\n810<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n231.56<\/td>\n\u00a0<\/td>\n83.9<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n194.39<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n301.51<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n236.34<\/td>\n\u00a0<\/td>\n83.7<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n197.75<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n298.37<\/td>\n\u00a0<\/td>\n(1.7<\/td>\n%)<\/td>\n\u00a0<\/td>\n1.1<\/td>\n%<\/td>\n<\/tr>\n
        Northern Virginia<\/td>\n2<\/td>\n\u00a0<\/td>\n916<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n254.61<\/td>\n\u00a0<\/td>\n72.4<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n184.39<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n268.82<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n246.97<\/td>\n\u00a0<\/td>\n74.3<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n183.58<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n272.79<\/td>\n\u00a0<\/td>\n0.4<\/td>\n%<\/td>\n\u00a0<\/td>\n(1.5<\/td>\n%)<\/td>\n<\/tr>\n
        Chicago<\/td>\n3<\/td>\n\u00a0<\/td>\n1,562<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n275.28<\/td>\n\u00a0<\/td>\n83.7<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n230.39<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n323.52<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n284.56<\/td>\n\u00a0<\/td>\n79.3<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n225.77<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n302.96<\/td>\n\u00a0<\/td>\n2.0<\/td>\n%<\/td>\n\u00a0<\/td>\n6.8<\/td>\n%<\/td>\n<\/tr>\n
        Seattle<\/td>\n2<\/td>\n\u00a0<\/td>\n1,315<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n278.57<\/td>\n\u00a0<\/td>\n82.7<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n230.37<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n292.94<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n278.67<\/td>\n\u00a0<\/td>\n84.2<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n234.60<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n295.93<\/td>\n\u00a0<\/td>\n(1.8<\/td>\n%)<\/td>\n\u00a0<\/td>\n(1.0<\/td>\n%)<\/td>\n<\/tr>\n
        San Francisco\/San Jose<\/td>\n6<\/td>\n\u00a0<\/td>\n4,162<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n228.63<\/td>\n\u00a0<\/td>\n74.7<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n170.68<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n243.57<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n221.47<\/td>\n\u00a0<\/td>\n71.4<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n158.03<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n224.25<\/td>\n\u00a0<\/td>\n8.0<\/td>\n%<\/td>\n\u00a0<\/td>\n8.6<\/td>\n%<\/td>\n<\/tr>\n
        Atlanta<\/td>\n2<\/td>\n\u00a0<\/td>\n810<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n205.50<\/td>\n\u00a0<\/td>\n69.2<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n142.11<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n218.67<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n193.10<\/td>\n\u00a0<\/td>\n62.3<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n120.29<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n182.01<\/td>\n\u00a0<\/td>\n18.1<\/td>\n%<\/td>\n\u00a0<\/td>\n20.1<\/td>\n%<\/td>\n<\/tr>\n
        Houston<\/td>\n4<\/td>\n\u00a0<\/td>\n1,710<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n195.20<\/td>\n\u00a0<\/td>\n61.2<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n119.37<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n163.15<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n195.95<\/td>\n\u00a0<\/td>\n69.7<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n136.51<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n186.16<\/td>\n\u00a0<\/td>\n(12.6<\/td>\n%)<\/td>\n\u00a0<\/td>\n(12.4<\/td>\n%)<\/td>\n<\/tr>\n
        San Antonio<\/td>\n2<\/td>\n\u00a0<\/td>\n1,512<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n207.97<\/td>\n\u00a0<\/td>\n58.2<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n121.08<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n186.09<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n201.02<\/td>\n\u00a0<\/td>\n56.3<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n113.14<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n179.56<\/td>\n\u00a0<\/td>\n7.0<\/td>\n%<\/td>\n\u00a0<\/td>\n3.6<\/td>\n%<\/td>\n<\/tr>\n
        Denver<\/td>\n3<\/td>\n\u00a0<\/td>\n1,342<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n213.29<\/td>\n\u00a0<\/td>\n74.8<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n159.43<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n230.23<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n212.74<\/td>\n\u00a0<\/td>\n82.1<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n174.65<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n252.81<\/td>\n\u00a0<\/td>\n(8.7<\/td>\n%)<\/td>\n\u00a0<\/td>\n(8.9<\/td>\n%)<\/td>\n<\/tr>\n
        New Orleans<\/td>\n1<\/td>\n\u00a0<\/td>\n1,333<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n150.07<\/td>\n\u00a0<\/td>\n58.8<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n88.31<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n151.18<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n161.65<\/td>\n\u00a0<\/td>\n68.4<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n110.53<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n180.91<\/td>\n\u00a0<\/td>\n(20.1<\/td>\n%)<\/td>\n\u00a0<\/td>\n(16.4<\/td>\n%)<\/td>\n<\/tr>\n
        Austin<\/td>\n2<\/td>\n\u00a0<\/td>\n769<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n205.41<\/td>\n\u00a0<\/td>\n41.4<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n85.07<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n157.45<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n206.04<\/td>\n\u00a0<\/td>\n60.4<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n124.50<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n226.42<\/td>\n\u00a0<\/td>\n(31.7<\/td>\n%)<\/td>\n\u00a0<\/td>\n(30.5<\/td>\n%)<\/td>\n<\/tr>\n
        Other<\/td>\n8<\/td>\n\u00a0<\/td>\n2,551<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n301.73<\/td>\n\u00a0<\/td>\n70.5<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n212.81<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n327.45<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n301.01<\/td>\n\u00a0<\/td>\n68.5<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n206.27<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n323.59<\/td>\n\u00a0<\/td>\n3.2<\/td>\n%<\/td>\n\u00a0<\/td>\n1.2<\/td>\n%<\/td>\n<\/tr>\n
        Domestic<\/td>\n71<\/td>\n\u00a0<\/td>\n40,338<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n302.35<\/td>\n\u00a0<\/td>\n69.5<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n210.04<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n340.12<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n293.19<\/td>\n\u00a0<\/td>\n71.7<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n210.08<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n338.13<\/td>\n\u00a0<\/td>\n\u2014<\/td>\n%<\/td>\n\u00a0<\/td>\n0.6<\/td>\n%<\/td>\n<\/tr>\n
        \u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
        International<\/td>\n5<\/td>\n\u00a0<\/td>\n1,499<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n214.10<\/td>\n\u00a0<\/td>\n72.3<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n154.77<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n206.87<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n206.99<\/td>\n\u00a0<\/td>\n67.6<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n140.02<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n183.91<\/td>\n\u00a0<\/td>\n10.5<\/td>\n%<\/td>\n\u00a0<\/td>\n12.5<\/td>\n%<\/td>\n<\/tr>\n
        All Locations<\/td>\n76<\/td>\n\u00a0<\/td>\n41,837<\/td>\n\u00a0<\/td>\n$<\/td>\n299.07<\/td>\n\u00a0<\/td>\n69.6<\/td>\n%<\/td>\n\u00a0<\/td>\n$<\/td>\n208.07<\/td>\n\u00a0<\/td>\n$<\/td>\n335.42<\/td>\n\u00a0<\/td>\n$<\/td>\n290.27<\/td>\n\u00a0<\/td>\n71.5<\/td>\n%<\/td>\n\u00a0<\/td>\n$<\/td>\n207.58<\/td>\n\u00a0<\/td>\n$<\/td>\n332.67<\/td>\n\u00a0<\/td>\n0.2<\/td>\n%<\/td>\n\u00a0<\/td>\n0.8<\/td>\n%<\/td>\n<\/tr>\n<\/table>\n

        ___________<\/p>\n

        (1) See the Notes to Financial Information for a discussion of comparable hotel operating statistics. CBD of a location refers to the central business district. Hotel RevPAR is calculated as room revenues divided by the available room nights. Hotel Total RevPAR is calculated by dividing the sum of rooms, food and beverage and other revenues by the available room nights.\u00a0
        (2) Prior to our ownership of The Ritz Carlton O’ahu, Turtle Bay, golf revenues were recorded by the property based on gross sales. After our acquisition of the property in July 2024, the golf course operates under a lease agreement, under which we record rental income, resulting in lower total revenues when compared to the periods prior to our ownership.<\/p>\n

        \n Comparable Hotel Results by Location<\/strong>
        \n
        \n (1)<\/strong>
        \n <\/sup>\n <\/p>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
        \u00a0<\/td>\nAs of September\u00a030, 2025<\/td>\n\u00a0<\/td>\nYear-to-date ended September 30, 2025<\/td>\n\u00a0<\/td>\nYear-to-date ended September 30, 2024<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
        \n Location<\/strong>\n <\/td>\nNo. of
        Properties<\/td>\n        		\u00a0<\/td>\nNo. of
        Rooms<\/td>\n        		\u00a0<\/td>\nAverage
        Room\u00a0Rate<\/td>\n        		\u00a0<\/td>\nAverage
        Occupancy
        Percentage<\/td>\n        		\u00a0<\/td>\nRevPAR<\/td>\n\u00a0<\/td>\nTotal
        RevPAR<\/td>\n        		\u00a0<\/td>\nAverage
        Room\u00a0Rate<\/td>\n        		\u00a0<\/td>\nAverage
        Occupancy
        Percentage<\/td>\n        		\u00a0<\/td>\nRevPAR<\/td>\n\u00a0<\/td>\nTotal
        RevPAR<\/td>\n        		\u00a0<\/td>\nPercent
        Change\u00a0in
        RevPAR<\/td>\n        		\u00a0<\/td>\nPercent
        Change\u00a0in
        Total RevPAR<\/td>\n<\/tr>\n
        Maui<\/td>\n3<\/td>\n\u00a0<\/td>\n1,580<\/td>\n\u00a0<\/td>\n$<\/td>\n641.29<\/td>\n\u00a0<\/td>\n71.8<\/td>\n%<\/td>\n\u00a0<\/td>\n$<\/td>\n460.58<\/td>\n\u00a0<\/td>\n$<\/td>\n728.70<\/td>\n\u00a0<\/td>\n$<\/td>\n658.69<\/td>\n\u00a0<\/td>\n59.3<\/td>\n%<\/td>\n\u00a0<\/td>\n$<\/td>\n390.76<\/td>\n\u00a0<\/td>\n$<\/td>\n639.14<\/td>\n\u00a0<\/td>\n17.9<\/td>\n%<\/td>\n\u00a0<\/td>\n14.0<\/td>\n%<\/td>\n<\/tr>\n
        Jacksonville<\/td>\n1<\/td>\n\u00a0<\/td>\n446<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n546.80<\/td>\n\u00a0<\/td>\n74.6<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n407.90<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n918.63<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n527.92<\/td>\n\u00a0<\/td>\n74.2<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n391.58<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n876.65<\/td>\n\u00a0<\/td>\n4.2<\/td>\n%<\/td>\n\u00a0<\/td>\n4.8<\/td>\n%<\/td>\n<\/tr>\n
        Oahu(2)<\/sup><\/td>\n2<\/td>\n\u00a0<\/td>\n876<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n482.90<\/td>\n\u00a0<\/td>\n83.5<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n403.43<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n618.34<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n454.33<\/td>\n\u00a0<\/td>\n82.5<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n374.93<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n589.86<\/td>\n\u00a0<\/td>\n7.6<\/td>\n%<\/td>\n\u00a0<\/td>\n4.8<\/td>\n%<\/td>\n<\/tr>\n
        Miami<\/td>\n2<\/td>\n\u00a0<\/td>\n1,038<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n541.24<\/td>\n\u00a0<\/td>\n72.8<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n394.28<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n694.08<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n521.24<\/td>\n\u00a0<\/td>\n70.2<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n365.80<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n636.48<\/td>\n\u00a0<\/td>\n7.8<\/td>\n%<\/td>\n\u00a0<\/td>\n9.1<\/td>\n%<\/td>\n<\/tr>\n
        Florida Gulf Coast<\/td>\n4<\/td>\n\u00a0<\/td>\n1,529<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n518.80<\/td>\n\u00a0<\/td>\n65.0<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n337.19<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n734.07<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n480.88<\/td>\n\u00a0<\/td>\n68.8<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n330.77<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n699.62<\/td>\n\u00a0<\/td>\n1.9<\/td>\n%<\/td>\n\u00a0<\/td>\n4.9<\/td>\n%<\/td>\n<\/tr>\n
        New York<\/td>\n3<\/td>\n\u00a0<\/td>\n2,720<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n381.66<\/td>\n\u00a0<\/td>\n85.9<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n327.75<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n471.21<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n360.45<\/td>\n\u00a0<\/td>\n82.9<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n298.70<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n421.87<\/td>\n\u00a0<\/td>\n9.7<\/td>\n%<\/td>\n\u00a0<\/td>\n11.7<\/td>\n%<\/td>\n<\/tr>\n
        Phoenix<\/td>\n3<\/td>\n\u00a0<\/td>\n1,545<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n389.03<\/td>\n\u00a0<\/td>\n71.5<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n278.30<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n651.58<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n393.86<\/td>\n\u00a0<\/td>\n69.8<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n275.08<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n632.88<\/td>\n\u00a0<\/td>\n1.2<\/td>\n%<\/td>\n\u00a0<\/td>\n3.0<\/td>\n%<\/td>\n<\/tr>\n
        Nashville<\/td>\n2<\/td>\n\u00a0<\/td>\n721<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n338.77<\/td>\n\u00a0<\/td>\n80.7<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n273.48<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n469.46<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n341.19<\/td>\n\u00a0<\/td>\n80.8<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n275.55<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n445.00<\/td>\n\u00a0<\/td>\n(0.8<\/td>\n%)<\/td>\n\u00a0<\/td>\n5.5<\/td>\n%<\/td>\n<\/tr>\n
        Orlando<\/td>\n2<\/td>\n\u00a0<\/td>\n2,448<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n398.78<\/td>\n\u00a0<\/td>\n65.9<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n262.80<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n556.99<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n363.77<\/td>\n\u00a0<\/td>\n68.3<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n248.43<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n527.80<\/td>\n\u00a0<\/td>\n5.8<\/td>\n%<\/td>\n\u00a0<\/td>\n5.5<\/td>\n%<\/td>\n<\/tr>\n
        Los Angeles\/Orange County<\/td>\n3<\/td>\n\u00a0<\/td>\n1,067<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n306.41<\/td>\n\u00a0<\/td>\n78.2<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n239.47<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n361.29<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n297.47<\/td>\n\u00a0<\/td>\n79.1<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n235.16<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n350.72<\/td>\n\u00a0<\/td>\n1.8<\/td>\n%<\/td>\n\u00a0<\/td>\n3.0<\/td>\n%<\/td>\n<\/tr>\n
        San Diego<\/td>\n3<\/td>\n\u00a0<\/td>\n3,294<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n302.30<\/td>\n\u00a0<\/td>\n76.2<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n230.25<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n430.73<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n298.26<\/td>\n\u00a0<\/td>\n81.5<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n243.21<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n452.45<\/td>\n\u00a0<\/td>\n(5.3<\/td>\n%)<\/td>\n\u00a0<\/td>\n(4.8<\/td>\n%)<\/td>\n<\/tr>\n
        Boston<\/td>\n2<\/td>\n\u00a0<\/td>\n1,496<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n291.42<\/td>\n\u00a0<\/td>\n75.7<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n220.46<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n287.97<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n280.49<\/td>\n\u00a0<\/td>\n79.8<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n223.91<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n292.37<\/td>\n\u00a0<\/td>\n(1.5<\/td>\n%)<\/td>\n\u00a0<\/td>\n(1.5<\/td>\n%)<\/td>\n<\/tr>\n
        Washington, D.C. (CBD)<\/td>\n4<\/td>\n\u00a0<\/td>\n2,786<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n312.81<\/td>\n\u00a0<\/td>\n63.6<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n198.84<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n290.96<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n289.60<\/td>\n\u00a0<\/td>\n69.6<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n201.45<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n300.31<\/td>\n\u00a0<\/td>\n(1.3<\/td>\n%)<\/td>\n\u00a0<\/td>\n(3.1<\/td>\n%)<\/td>\n<\/tr>\n
        Philadelphia<\/td>\n2<\/td>\n\u00a0<\/td>\n810<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n235.96<\/td>\n\u00a0<\/td>\n82.1<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n193.71<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n295.87<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n233.93<\/td>\n\u00a0<\/td>\n80.5<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n188.37<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n286.45<\/td>\n\u00a0<\/td>\n2.8<\/td>\n%<\/td>\n\u00a0<\/td>\n3.3<\/td>\n%<\/td>\n<\/tr>\n
        Northern Virginia<\/td>\n2<\/td>\n\u00a0<\/td>\n916<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n268.51<\/td>\n\u00a0<\/td>\n68.6<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n184.16<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n284.99<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n255.73<\/td>\n\u00a0<\/td>\n73.0<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n186.80<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n287.34<\/td>\n\u00a0<\/td>\n(1.4<\/td>\n%)<\/td>\n\u00a0<\/td>\n(0.8<\/td>\n%)<\/td>\n<\/tr>\n
        Chicago<\/td>\n3<\/td>\n\u00a0<\/td>\n1,562<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n252.43<\/td>\n\u00a0<\/td>\n72.0<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n181.64<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n258.88<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n255.00<\/td>\n\u00a0<\/td>\n70.5<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n179.73<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n249.82<\/td>\n\u00a0<\/td>\n1.1<\/td>\n%<\/td>\n\u00a0<\/td>\n3.6<\/td>\n%<\/td>\n<\/tr>\n
        Seattle<\/td>\n2<\/td>\n\u00a0<\/td>\n1,315<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n251.35<\/td>\n\u00a0<\/td>\n71.8<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n180.44<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n240.72<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n254.22<\/td>\n\u00a0<\/td>\n70.5<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n179.21<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n239.04<\/td>\n\u00a0<\/td>\n0.7<\/td>\n%<\/td>\n\u00a0<\/td>\n0.7<\/td>\n%<\/td>\n<\/tr>\n
        San Francisco\/San Jose<\/td>\n6<\/td>\n\u00a0<\/td>\n4,162<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n255.37<\/td>\n\u00a0<\/td>\n70.3<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n179.44<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n265.08<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n245.14<\/td>\n\u00a0<\/td>\n68.2<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n167.30<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n244.90<\/td>\n\u00a0<\/td>\n7.3<\/td>\n%<\/td>\n\u00a0<\/td>\n8.2<\/td>\n%<\/td>\n<\/tr>\n
        Atlanta<\/td>\n2<\/td>\n\u00a0<\/td>\n810<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n214.99<\/td>\n\u00a0<\/td>\n68.2<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n146.72<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n244.64<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n204.24<\/td>\n\u00a0<\/td>\n61.4<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n125.42<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n207.89<\/td>\n\u00a0<\/td>\n17.0<\/td>\n%<\/td>\n\u00a0<\/td>\n17.7<\/td>\n%<\/td>\n<\/tr>\n
        Houston<\/td>\n4<\/td>\n\u00a0<\/td>\n1,710<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n209.62<\/td>\n\u00a0<\/td>\n68.2<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n142.92<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n198.42<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n203.11<\/td>\n\u00a0<\/td>\n73.9<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n150.03<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n205.12<\/td>\n\u00a0<\/td>\n(4.7<\/td>\n%)<\/td>\n\u00a0<\/td>\n(3.3<\/td>\n%)<\/td>\n<\/tr>\n
        San Antonio<\/td>\n2<\/td>\n\u00a0<\/td>\n1,512<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n223.44<\/td>\n\u00a0<\/td>\n61.8<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n138.18<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n219.96<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n216.80<\/td>\n\u00a0<\/td>\n61.4<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n133.13<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n214.38<\/td>\n\u00a0<\/td>\n3.8<\/td>\n%<\/td>\n\u00a0<\/td>\n2.6<\/td>\n%<\/td>\n<\/tr>\n
        Denver<\/td>\n3<\/td>\n\u00a0<\/td>\n1,342<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n203.98<\/td>\n\u00a0<\/td>\n67.2<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n137.17<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n207.38<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n201.25<\/td>\n\u00a0<\/td>\n70.5<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n141.92<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n215.52<\/td>\n\u00a0<\/td>\n(3.3<\/td>\n%)<\/td>\n\u00a0<\/td>\n(3.8<\/td>\n%)<\/td>\n<\/tr>\n
        New Orleans<\/td>\n1<\/td>\n\u00a0<\/td>\n1,333<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n205.67<\/td>\n\u00a0<\/td>\n65.4<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n134.43<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n215.07<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n191.16<\/td>\n\u00a0<\/td>\n72.3<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n138.16<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n219.14<\/td>\n\u00a0<\/td>\n(2.7<\/td>\n%)<\/td>\n\u00a0<\/td>\n(1.9<\/td>\n%)<\/td>\n<\/tr>\n
        Austin<\/td>\n2<\/td>\n\u00a0<\/td>\n769<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n238.80<\/td>\n\u00a0<\/td>\n52.4<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n125.10<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n231.79<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n247.35<\/td>\n\u00a0<\/td>\n66.2<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n163.68<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n292.67<\/td>\n\u00a0<\/td>\n(23.6<\/td>\n%)<\/td>\n\u00a0<\/td>\n(20.8<\/td>\n%)<\/td>\n<\/tr>\n
        Other<\/td>\n8<\/td>\n\u00a0<\/td>\n2,551<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n309.70<\/td>\n\u00a0<\/td>\n68.5<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n212.05<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n328.96<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n304.18<\/td>\n\u00a0<\/td>\n65.2<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n198.32<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n311.62<\/td>\n\u00a0<\/td>\n6.9<\/td>\n%<\/td>\n\u00a0<\/td>\n5.6<\/td>\n%<\/td>\n<\/tr>\n
        Domestic<\/td>\n71<\/td>\n\u00a0<\/td>\n40,338<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n328.28<\/td>\n\u00a0<\/td>\n71.1<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n233.53<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n390.93<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n314.22<\/td>\n\u00a0<\/td>\n71.8<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n225.74<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n376.74<\/td>\n\u00a0<\/td>\n3.4<\/td>\n%<\/td>\n\u00a0<\/td>\n3.8<\/td>\n%<\/td>\n<\/tr>\n
        \u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
        International<\/td>\n5<\/td>\n\u00a0<\/td>\n1,499<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n196.33<\/td>\n\u00a0<\/td>\n67.9<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n133.40<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n183.36<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n196.00<\/td>\n\u00a0<\/td>\n63.2<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n123.88<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n178.79<\/td>\n\u00a0<\/td>\n7.7<\/td>\n%<\/td>\n\u00a0<\/td>\n2.6<\/td>\n%<\/td>\n<\/tr>\n
        All Locations<\/td>\n76<\/td>\n\u00a0<\/td>\n41,837<\/td>\n\u00a0<\/td>\n$<\/td>\n323.76<\/td>\n\u00a0<\/td>\n71.0<\/td>\n%<\/td>\n\u00a0<\/td>\n$<\/td>\n229.95<\/td>\n\u00a0<\/td>\n$<\/td>\n383.54<\/td>\n\u00a0<\/td>\n$<\/td>\n310.48<\/td>\n\u00a0<\/td>\n71.5<\/td>\n%<\/td>\n\u00a0<\/td>\n$<\/td>\n222.10<\/td>\n\u00a0<\/td>\n$<\/td>\n369.71<\/td>\n\u00a0<\/td>\n3.5<\/td>\n%<\/td>\n\u00a0<\/td>\n3.7<\/td>\n%<\/td>\n<\/tr>\n<\/table>\n

        ___________<\/p>\n

        (1) See the Notes to Financial Information for a discussion of comparable hotel operating statistics. CBD of a location refers to the central business district. Hotel RevPAR is calculated as room revenues divided by the available room nights. Hotel Total RevPAR is calculated by dividing the sum of rooms, food and beverage and other revenues by the available room nights.\u00a0
        (2) Prior to our ownership of The Ritz Carlton O’ahu, Turtle Bay, golf revenues were recorded by the property based on gross sales. After our acquisition of the property in July 2024, the golf course operates under a lease agreement, under which we record rental income, resulting in lower total revenues when compared to the periods prior to our ownership.<\/p>\n

        \n Results by Location – <\/strong>
        \n actual<\/strong>
        \n , based on ownership period<\/strong>
        \n
        \n (1)<\/strong>
        \n <\/sup>\n <\/p>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
        \u00a0<\/td>\nAs of September 30,<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
        \u00a0<\/td>\n2025<\/td>\n\u00a0<\/td>\n2024<\/td>\n\u00a0<\/td>\nQuarter ended September 30, 2025<\/td>\n\u00a0<\/td>\nQuarter ended September 30, 2024<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
        \n Location<\/strong>\n <\/td>\nNo. of
        Properties<\/td>\n        		\u00a0<\/td>\nNo. of
        Properties<\/td>\n        		\u00a0<\/td>\nAverage
        Room\u00a0Rate<\/td>\n        		\u00a0<\/td>\nAverage
        Occupancy
        Percentage<\/td>\n        		\u00a0<\/td>\nRevPAR<\/td>\n\u00a0<\/td>\nTotal
        RevPAR<\/td>\n        		\u00a0<\/td>\nAverage
        Room\u00a0Rate<\/td>\n        		\u00a0<\/td>\nAverage
        Occupancy
        Percentage<\/td>\n        		\u00a0<\/td>\nRevPAR<\/td>\n\u00a0<\/td>\nTotal
        RevPAR<\/td>\n        		\u00a0<\/td>\nPercent
        Change\u00a0in
        RevPAR<\/td>\n        		\u00a0<\/td>\nPercent
        Change\u00a0in
        Total RevPAR<\/td>\n<\/tr>\n
        Maui<\/td>\n3<\/td>\n\u00a0<\/td>\n3<\/td>\n\u00a0<\/td>\n$<\/td>\n611.54<\/td>\n\u00a0<\/td>\n69.9<\/td>\n%<\/td>\n\u00a0<\/td>\n$<\/td>\n427.23<\/td>\n\u00a0<\/td>\n$<\/td>\n675.34<\/td>\n\u00a0<\/td>\n$<\/td>\n626.00<\/td>\n\u00a0<\/td>\n57.0<\/td>\n%<\/td>\n\u00a0<\/td>\n$<\/td>\n356.87<\/td>\n\u00a0<\/td>\n$<\/td>\n569.42<\/td>\n\u00a0<\/td>\n19.7<\/td>\n%<\/td>\n\u00a0<\/td>\n18.6<\/td>\n%<\/td>\n<\/tr>\n
        Jacksonville<\/td>\n1<\/td>\n\u00a0<\/td>\n1<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n516.44<\/td>\n\u00a0<\/td>\n72.4<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n374.11<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n826.86<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n500.84<\/td>\n\u00a0<\/td>\n71.6<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n358.59<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n805.21<\/td>\n\u00a0<\/td>\n4.3<\/td>\n%<\/td>\n\u00a0<\/td>\n2.7<\/td>\n%<\/td>\n<\/tr>\n
        Oahu<\/td>\n2<\/td>\n\u00a0<\/td>\n2<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n481.95<\/td>\n\u00a0<\/td>\n83.8<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n403.71<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n620.81<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n386.23<\/td>\n\u00a0<\/td>\n82.6<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n318.97<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n462.52<\/td>\n\u00a0<\/td>\n26.6<\/td>\n%<\/td>\n\u00a0<\/td>\n34.2<\/td>\n%<\/td>\n<\/tr>\n
        Miami<\/td>\n2<\/td>\n\u00a0<\/td>\n2<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n387.67<\/td>\n\u00a0<\/td>\n59.1<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n229.04<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n433.63<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n366.49<\/td>\n\u00a0<\/td>\n59.2<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n216.89<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n414.64<\/td>\n\u00a0<\/td>\n5.6<\/td>\n%<\/td>\n\u00a0<\/td>\n4.6<\/td>\n%<\/td>\n<\/tr>\n
        Florida Gulf Coast<\/td>\n5<\/td>\n\u00a0<\/td>\n5<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n372.69<\/td>\n\u00a0<\/td>\n46.3<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n172.40<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n369.38<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n332.00<\/td>\n\u00a0<\/td>\n57.0<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n189.13<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n403.96<\/td>\n\u00a0<\/td>\n(8.8<\/td>\n%)<\/td>\n\u00a0<\/td>\n(8.6<\/td>\n%)<\/td>\n<\/tr>\n
        New York<\/td>\n3<\/td>\n\u00a0<\/td>\n3<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n400.99<\/td>\n\u00a0<\/td>\n88.9<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n356.36<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n487.87<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n378.23<\/td>\n\u00a0<\/td>\n87.7<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n331.88<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n441.73<\/td>\n\u00a0<\/td>\n7.4<\/td>\n%<\/td>\n\u00a0<\/td>\n10.4<\/td>\n%<\/td>\n<\/tr>\n
        Phoenix<\/td>\n3<\/td>\n\u00a0<\/td>\n3<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n262.62<\/td>\n\u00a0<\/td>\n61.9<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n162.56<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n410.51<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n269.17<\/td>\n\u00a0<\/td>\n54.5<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n146.75<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n374.60<\/td>\n\u00a0<\/td>\n10.8<\/td>\n%<\/td>\n\u00a0<\/td>\n9.6<\/td>\n%<\/td>\n<\/tr>\n
        Nashville<\/td>\n2<\/td>\n\u00a0<\/td>\n2<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n330.15<\/td>\n\u00a0<\/td>\n77.6<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n256.22<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n449.68<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n335.61<\/td>\n\u00a0<\/td>\n80.5<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n270.28<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n435.21<\/td>\n\u00a0<\/td>\n(5.2<\/td>\n%)<\/td>\n\u00a0<\/td>\n3.3<\/td>\n%<\/td>\n<\/tr>\n
        Orlando<\/td>\n2<\/td>\n\u00a0<\/td>\n2<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n346.50<\/td>\n\u00a0<\/td>\n53.4<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n185.18<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n421.34<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n312.21<\/td>\n\u00a0<\/td>\n60.3<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n188.39<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n426.35<\/td>\n\u00a0<\/td>\n(1.7<\/td>\n%)<\/td>\n\u00a0<\/td>\n(1.2<\/td>\n%)<\/td>\n<\/tr>\n
        Los Angeles\/Orange County<\/td>\n3<\/td>\n\u00a0<\/td>\n3<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n308.01<\/td>\n\u00a0<\/td>\n76.7<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n236.26<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n354.62<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n303.51<\/td>\n\u00a0<\/td>\n81.9<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n248.54<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n369.47<\/td>\n\u00a0<\/td>\n(4.9<\/td>\n%)<\/td>\n\u00a0<\/td>\n(4.0<\/td>\n%)<\/td>\n<\/tr>\n
        San Diego<\/td>\n3<\/td>\n\u00a0<\/td>\n3<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n302.44<\/td>\n\u00a0<\/td>\n76.9<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n232.44<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n410.75<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n305.38<\/td>\n\u00a0<\/td>\n84.2<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n257.27<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n455.83<\/td>\n\u00a0<\/td>\n(9.7<\/td>\n%)<\/td>\n\u00a0<\/td>\n(9.9<\/td>\n%)<\/td>\n<\/tr>\n
        Boston<\/td>\n2<\/td>\n\u00a0<\/td>\n2<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n297.49<\/td>\n\u00a0<\/td>\n79.6<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n236.86<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n303.04<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n301.09<\/td>\n\u00a0<\/td>\n84.4<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n253.98<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n316.86<\/td>\n\u00a0<\/td>\n(6.7<\/td>\n%)<\/td>\n\u00a0<\/td>\n(4.4<\/td>\n%)<\/td>\n<\/tr>\n
        Washington, D.C. (CBD)<\/td>\n4<\/td>\n\u00a0<\/td>\n5<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n260.24<\/td>\n\u00a0<\/td>\n57.4<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n149.50<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n227.53<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n261.33<\/td>\n\u00a0<\/td>\n69.0<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n180.29<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n265.21<\/td>\n\u00a0<\/td>\n(17.1<\/td>\n%)<\/td>\n\u00a0<\/td>\n(14.2<\/td>\n%)<\/td>\n<\/tr>\n
        Philadelphia<\/td>\n2<\/td>\n\u00a0<\/td>\n2<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n231.56<\/td>\n\u00a0<\/td>\n83.9<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n194.39<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n301.51<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n236.34<\/td>\n\u00a0<\/td>\n83.7<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n197.75<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n298.37<\/td>\n\u00a0<\/td>\n(1.7<\/td>\n%)<\/td>\n\u00a0<\/td>\n1.1<\/td>\n%<\/td>\n<\/tr>\n
        Northern Virginia<\/td>\n2<\/td>\n\u00a0<\/td>\n2<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n254.61<\/td>\n\u00a0<\/td>\n72.4<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n184.39<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n268.82<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n246.97<\/td>\n\u00a0<\/td>\n74.3<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n183.58<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n272.79<\/td>\n\u00a0<\/td>\n0.4<\/td>\n%<\/td>\n\u00a0<\/td>\n(1.5<\/td>\n%)<\/td>\n<\/tr>\n
        Chicago<\/td>\n3<\/td>\n\u00a0<\/td>\n3<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n275.28<\/td>\n\u00a0<\/td>\n83.7<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n230.39<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n323.52<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n284.56<\/td>\n\u00a0<\/td>\n79.3<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n225.77<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n302.96<\/td>\n\u00a0<\/td>\n2.0<\/td>\n%<\/td>\n\u00a0<\/td>\n6.8<\/td>\n%<\/td>\n<\/tr>\n
        Seattle<\/td>\n2<\/td>\n\u00a0<\/td>\n2<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n278.57<\/td>\n\u00a0<\/td>\n82.7<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n230.37<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n292.94<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n278.67<\/td>\n\u00a0<\/td>\n84.2<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n234.60<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n295.93<\/td>\n\u00a0<\/td>\n(1.8<\/td>\n%)<\/td>\n\u00a0<\/td>\n(1.0<\/td>\n%)<\/td>\n<\/tr>\n
        San Francisco\/San Jose<\/td>\n6<\/td>\n\u00a0<\/td>\n6<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n228.63<\/td>\n\u00a0<\/td>\n74.7<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n170.68<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n243.57<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n221.47<\/td>\n\u00a0<\/td>\n71.4<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n158.03<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n224.25<\/td>\n\u00a0<\/td>\n8.0<\/td>\n%<\/td>\n\u00a0<\/td>\n8.6<\/td>\n%<\/td>\n<\/tr>\n
        Atlanta<\/td>\n2<\/td>\n\u00a0<\/td>\n2<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n205.50<\/td>\n\u00a0<\/td>\n69.2<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n142.11<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n218.67<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n193.10<\/td>\n\u00a0<\/td>\n62.3<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n120.29<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n182.01<\/td>\n\u00a0<\/td>\n18.1<\/td>\n%<\/td>\n\u00a0<\/td>\n20.1<\/td>\n%<\/td>\n<\/tr>\n
        Houston<\/td>\n5<\/td>\n\u00a0<\/td>\n5<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n204.97<\/td>\n\u00a0<\/td>\n58.2<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n119.28<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n164.24<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n207.33<\/td>\n\u00a0<\/td>\n66.6<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n138.07<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n189.00<\/td>\n\u00a0<\/td>\n(13.6<\/td>\n%)<\/td>\n\u00a0<\/td>\n(13.1<\/td>\n%)<\/td>\n<\/tr>\n
        San Antonio<\/td>\n2<\/td>\n\u00a0<\/td>\n2<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n207.97<\/td>\n\u00a0<\/td>\n58.2<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n121.08<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n186.09<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n201.02<\/td>\n\u00a0<\/td>\n56.3<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n113.14<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n179.56<\/td>\n\u00a0<\/td>\n7.0<\/td>\n%<\/td>\n\u00a0<\/td>\n3.6<\/td>\n%<\/td>\n<\/tr>\n
        Denver<\/td>\n3<\/td>\n\u00a0<\/td>\n3<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n213.29<\/td>\n\u00a0<\/td>\n74.8<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n159.43<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n230.23<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n212.74<\/td>\n\u00a0<\/td>\n82.1<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n174.65<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n252.81<\/td>\n\u00a0<\/td>\n(8.7<\/td>\n%)<\/td>\n\u00a0<\/td>\n(8.9<\/td>\n%)<\/td>\n<\/tr>\n
        New Orleans<\/td>\n1<\/td>\n\u00a0<\/td>\n1<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n150.07<\/td>\n\u00a0<\/td>\n58.8<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n88.31<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n151.18<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n161.65<\/td>\n\u00a0<\/td>\n68.4<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n110.53<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n180.91<\/td>\n\u00a0<\/td>\n(20.1<\/td>\n%)<\/td>\n\u00a0<\/td>\n(16.4<\/td>\n%)<\/td>\n<\/tr>\n
        Austin<\/td>\n2<\/td>\n\u00a0<\/td>\n2<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n205.41<\/td>\n\u00a0<\/td>\n41.4<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n85.07<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n157.45<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n206.04<\/td>\n\u00a0<\/td>\n60.4<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n124.50<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n226.42<\/td>\n\u00a0<\/td>\n(31.7<\/td>\n%)<\/td>\n\u00a0<\/td>\n(30.5<\/td>\n%)<\/td>\n<\/tr>\n
        Other<\/td>\n9<\/td>\n\u00a0<\/td>\n10<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n353.05<\/td>\n\u00a0<\/td>\n67.2<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n237.21<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n361.71<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n325.57<\/td>\n\u00a0<\/td>\n69.7<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n226.89<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n348.53<\/td>\n\u00a0<\/td>\n4.5<\/td>\n%<\/td>\n\u00a0<\/td>\n3.8<\/td>\n%<\/td>\n<\/tr>\n
        Domestic<\/td>\n74<\/td>\n\u00a0<\/td>\n76<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n305.68<\/td>\n\u00a0<\/td>\n69.0<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n210.84<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n341.26<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n293.06<\/td>\n\u00a0<\/td>\n71.6<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n209.71<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n336.55<\/td>\n\u00a0<\/td>\n0.5<\/td>\n%<\/td>\n\u00a0<\/td>\n1.4<\/td>\n%<\/td>\n<\/tr>\n
        \u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
        International<\/td>\n5<\/td>\n\u00a0<\/td>\n5<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n214.10<\/td>\n\u00a0<\/td>\n72.3<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n154.77<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n206.87<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n206.99<\/td>\n\u00a0<\/td>\n67.6<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n140.02<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n183.91<\/td>\n\u00a0<\/td>\n10.5<\/td>\n%<\/td>\n\u00a0<\/td>\n12.5<\/td>\n%<\/td>\n<\/tr>\n
        All Locations<\/td>\n79<\/td>\n\u00a0<\/td>\n81<\/td>\n\u00a0<\/td>\n$<\/td>\n302.34<\/td>\n\u00a0<\/td>\n69.1<\/td>\n%<\/td>\n\u00a0<\/td>\n$<\/td>\n208.89<\/td>\n\u00a0<\/td>\n$<\/td>\n336.63<\/td>\n\u00a0<\/td>\n$<\/td>\n290.24<\/td>\n\u00a0<\/td>\n71.4<\/td>\n%<\/td>\n\u00a0<\/td>\n$<\/td>\n207.30<\/td>\n\u00a0<\/td>\n$<\/td>\n331.32<\/td>\n\u00a0<\/td>\n0.8<\/td>\n%<\/td>\n\u00a0<\/td>\n1.6<\/td>\n%<\/td>\n<\/tr>\n<\/table>\n

        \n ___________<\/strong>\n <\/p>\n

        (1) Represents the results of the portfolio for the time period of our ownership, including the results of non-comparable properties, dispositions through their date of disposal and acquisitions beginning as of the date of acquisition.<\/p>\n

        \n Results by Location – actual, based on ownership period<\/strong>
        \n
        \n (1)<\/strong>
        \n <\/sup>\n <\/p>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
        \u00a0<\/td>\nAs of September 30,<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
        \u00a0<\/td>\n2025<\/td>\n\u00a0<\/td>\n2024<\/td>\n\u00a0<\/td>\nYear-to-date ended September 30, 2025<\/td>\n\u00a0<\/td>\nYear-to-date ended September 30, 2024<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
        \n Location<\/strong>\n <\/td>\nNo. of
        Properties<\/td>\n        		\u00a0<\/td>\nNo. of
        Properties<\/td>\n        		\u00a0<\/td>\nAverage
        Room\u00a0Rate<\/td>\n        		\u00a0<\/td>\nAverage
        Occupancy
        Percentage<\/td>\n        		\u00a0<\/td>\nRevPAR<\/td>\n\u00a0<\/td>\nTotal
        RevPAR<\/td>\n        		\u00a0<\/td>\nAverage
        Room\u00a0Rate<\/td>\n        		\u00a0<\/td>\nAverage
        Occupancy
        Percentage<\/td>\n        		\u00a0<\/td>\nRevPAR<\/td>\n\u00a0<\/td>\nTotal
        RevPAR<\/td>\n        		\u00a0<\/td>\nPercent
        Change\u00a0in
        RevPAR<\/td>\n        		\u00a0<\/td>\nPercent
        Change\u00a0in
        Total RevPAR<\/td>\n<\/tr>\n
        Maui<\/td>\n3<\/td>\n\u00a0<\/td>\n3<\/td>\n\u00a0<\/td>\n$<\/td>\n641.29<\/td>\n\u00a0<\/td>\n71.8<\/td>\n%<\/td>\n\u00a0<\/td>\n$<\/td>\n460.58<\/td>\n\u00a0<\/td>\n$<\/td>\n728.70<\/td>\n\u00a0<\/td>\n$<\/td>\n658.69<\/td>\n\u00a0<\/td>\n59.3<\/td>\n%<\/td>\n\u00a0<\/td>\n$<\/td>\n390.76<\/td>\n\u00a0<\/td>\n$<\/td>\n639.14<\/td>\n\u00a0<\/td>\n17.9<\/td>\n%<\/td>\n\u00a0<\/td>\n14.0<\/td>\n%<\/td>\n<\/tr>\n
        Jacksonville<\/td>\n1<\/td>\n\u00a0<\/td>\n1<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n546.80<\/td>\n\u00a0<\/td>\n74.6<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n407.90<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n918.63<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n527.92<\/td>\n\u00a0<\/td>\n74.2<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n391.58<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n876.65<\/td>\n\u00a0<\/td>\n4.2<\/td>\n%<\/td>\n\u00a0<\/td>\n4.8<\/td>\n%<\/td>\n<\/tr>\n
        Oahu<\/td>\n2<\/td>\n\u00a0<\/td>\n2<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n482.90<\/td>\n\u00a0<\/td>\n83.5<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n403.43<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n618.34<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n286.14<\/td>\n\u00a0<\/td>\n90.3<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n258.41<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n343.46<\/td>\n\u00a0<\/td>\n56.1<\/td>\n%<\/td>\n\u00a0<\/td>\n80.0<\/td>\n%<\/td>\n<\/tr>\n
        Miami<\/td>\n2<\/td>\n\u00a0<\/td>\n2<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n541.24<\/td>\n\u00a0<\/td>\n72.8<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n394.28<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n694.08<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n521.24<\/td>\n\u00a0<\/td>\n70.2<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n365.80<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n636.48<\/td>\n\u00a0<\/td>\n7.8<\/td>\n%<\/td>\n\u00a0<\/td>\n9.1<\/td>\n%<\/td>\n<\/tr>\n
        Florida Gulf Coast<\/td>\n5<\/td>\n\u00a0<\/td>\n5<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n500.78<\/td>\n\u00a0<\/td>\n62.0<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n310.25<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n662.29<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n474.03<\/td>\n\u00a0<\/td>\n70.0<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n331.62<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n694.60<\/td>\n\u00a0<\/td>\n(6.4<\/td>\n%)<\/td>\n\u00a0<\/td>\n(4.7<\/td>\n%)<\/td>\n<\/tr>\n
        New York<\/td>\n3<\/td>\n\u00a0<\/td>\n3<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n381.66<\/td>\n\u00a0<\/td>\n85.9<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n327.75<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n471.21<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n347.40<\/td>\n\u00a0<\/td>\n83.0<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n288.45<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n406.46<\/td>\n\u00a0<\/td>\n13.6<\/td>\n%<\/td>\n\u00a0<\/td>\n15.9<\/td>\n%<\/td>\n<\/tr>\n
        Phoenix<\/td>\n3<\/td>\n\u00a0<\/td>\n3<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n389.03<\/td>\n\u00a0<\/td>\n71.5<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n278.30<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n651.58<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n393.86<\/td>\n\u00a0<\/td>\n69.8<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n275.08<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n632.88<\/td>\n\u00a0<\/td>\n1.2<\/td>\n%<\/td>\n\u00a0<\/td>\n3.0<\/td>\n%<\/td>\n<\/tr>\n
        Nashville<\/td>\n2<\/td>\n\u00a0<\/td>\n2<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n338.77<\/td>\n\u00a0<\/td>\n80.7<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n273.48<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n469.46<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n355.57<\/td>\n\u00a0<\/td>\n84.0<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n298.70<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n474.17<\/td>\n\u00a0<\/td>\n(8.4<\/td>\n%)<\/td>\n\u00a0<\/td>\n(1.0<\/td>\n%)<\/td>\n<\/tr>\n
        Orlando<\/td>\n2<\/td>\n\u00a0<\/td>\n2<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n398.78<\/td>\n\u00a0<\/td>\n65.9<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n262.80<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n556.99<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n363.77<\/td>\n\u00a0<\/td>\n68.3<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n248.43<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n527.80<\/td>\n\u00a0<\/td>\n5.8<\/td>\n%<\/td>\n\u00a0<\/td>\n5.5<\/td>\n%<\/td>\n<\/tr>\n
        Los Angeles\/Orange County<\/td>\n3<\/td>\n\u00a0<\/td>\n3<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n306.41<\/td>\n\u00a0<\/td>\n78.2<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n239.47<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n361.29<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n297.47<\/td>\n\u00a0<\/td>\n79.1<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n235.16<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n350.72<\/td>\n\u00a0<\/td>\n1.8<\/td>\n%<\/td>\n\u00a0<\/td>\n3.0<\/td>\n%<\/td>\n<\/tr>\n
        San Diego<\/td>\n3<\/td>\n\u00a0<\/td>\n3<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n302.30<\/td>\n\u00a0<\/td>\n76.2<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n230.25<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n430.73<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n298.26<\/td>\n\u00a0<\/td>\n81.5<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n243.21<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n452.45<\/td>\n\u00a0<\/td>\n(5.3<\/td>\n%)<\/td>\n\u00a0<\/td>\n(4.8<\/td>\n%)<\/td>\n<\/tr>\n
        Boston<\/td>\n2<\/td>\n\u00a0<\/td>\n2<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n291.42<\/td>\n\u00a0<\/td>\n75.7<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n220.46<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n287.97<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n280.49<\/td>\n\u00a0<\/td>\n79.8<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n223.91<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n292.37<\/td>\n\u00a0<\/td>\n(1.5<\/td>\n%)<\/td>\n\u00a0<\/td>\n(1.5<\/td>\n%)<\/td>\n<\/tr>\n
        Washington, D.C. (CBD)<\/td>\n4<\/td>\n\u00a0<\/td>\n5<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n309.88<\/td>\n\u00a0<\/td>\n65.0<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n201.57<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n290.56<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n289.07<\/td>\n\u00a0<\/td>\n71.0<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n205.24<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n298.07<\/td>\n\u00a0<\/td>\n(1.8<\/td>\n%)<\/td>\n\u00a0<\/td>\n(2.5<\/td>\n%)<\/td>\n<\/tr>\n
        Philadelphia<\/td>\n2<\/td>\n\u00a0<\/td>\n2<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n235.96<\/td>\n\u00a0<\/td>\n82.1<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n193.71<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n295.87<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n233.93<\/td>\n\u00a0<\/td>\n80.5<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n188.37<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n286.45<\/td>\n\u00a0<\/td>\n2.8<\/td>\n%<\/td>\n\u00a0<\/td>\n3.3<\/td>\n%<\/td>\n<\/tr>\n
        Northern Virginia<\/td>\n2<\/td>\n\u00a0<\/td>\n2<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n268.51<\/td>\n\u00a0<\/td>\n68.6<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n184.16<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n284.99<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n255.73<\/td>\n\u00a0<\/td>\n73.0<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n186.80<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n287.34<\/td>\n\u00a0<\/td>\n(1.4<\/td>\n%)<\/td>\n\u00a0<\/td>\n(0.8<\/td>\n%)<\/td>\n<\/tr>\n
        Chicago<\/td>\n3<\/td>\n\u00a0<\/td>\n3<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n252.43<\/td>\n\u00a0<\/td>\n72.0<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n181.64<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n258.88<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n255.00<\/td>\n\u00a0<\/td>\n70.5<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n179.73<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n249.82<\/td>\n\u00a0<\/td>\n1.1<\/td>\n%<\/td>\n\u00a0<\/td>\n3.6<\/td>\n%<\/td>\n<\/tr>\n
        Seattle<\/td>\n2<\/td>\n\u00a0<\/td>\n2<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n251.35<\/td>\n\u00a0<\/td>\n71.8<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n180.44<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n240.72<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n254.22<\/td>\n\u00a0<\/td>\n70.5<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n179.21<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n239.04<\/td>\n\u00a0<\/td>\n0.7<\/td>\n%<\/td>\n\u00a0<\/td>\n0.7<\/td>\n%<\/td>\n<\/tr>\n
        San Francisco\/San Jose<\/td>\n6<\/td>\n\u00a0<\/td>\n6<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n255.37<\/td>\n\u00a0<\/td>\n70.3<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n179.44<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n265.08<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n245.14<\/td>\n\u00a0<\/td>\n68.2<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n167.30<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n244.90<\/td>\n\u00a0<\/td>\n7.3<\/td>\n%<\/td>\n\u00a0<\/td>\n8.2<\/td>\n%<\/td>\n<\/tr>\n
        Atlanta<\/td>\n2<\/td>\n\u00a0<\/td>\n2<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n214.99<\/td>\n\u00a0<\/td>\n68.2<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n146.72<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n244.64<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n204.24<\/td>\n\u00a0<\/td>\n61.4<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n125.42<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n207.89<\/td>\n\u00a0<\/td>\n17.0<\/td>\n%<\/td>\n\u00a0<\/td>\n17.7<\/td>\n%<\/td>\n<\/tr>\n
        Houston<\/td>\n5<\/td>\n\u00a0<\/td>\n5<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n221.02<\/td>\n\u00a0<\/td>\n65.5<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n144.79<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n203.16<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n215.18<\/td>\n\u00a0<\/td>\n70.9<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n152.65<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n210.55<\/td>\n\u00a0<\/td>\n(5.1<\/td>\n%)<\/td>\n\u00a0<\/td>\n(3.5<\/td>\n%)<\/td>\n<\/tr>\n
        San Antonio<\/td>\n2<\/td>\n\u00a0<\/td>\n2<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n223.44<\/td>\n\u00a0<\/td>\n61.8<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n138.18<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n219.96<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n216.80<\/td>\n\u00a0<\/td>\n61.4<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n133.13<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n214.38<\/td>\n\u00a0<\/td>\n3.8<\/td>\n%<\/td>\n\u00a0<\/td>\n2.6<\/td>\n%<\/td>\n<\/tr>\n
        Denver<\/td>\n3<\/td>\n\u00a0<\/td>\n3<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n203.98<\/td>\n\u00a0<\/td>\n67.2<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n137.17<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n207.38<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n201.25<\/td>\n\u00a0<\/td>\n70.5<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n141.92<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n215.52<\/td>\n\u00a0<\/td>\n(3.3<\/td>\n%)<\/td>\n\u00a0<\/td>\n(3.8<\/td>\n%)<\/td>\n<\/tr>\n
        New Orleans<\/td>\n1<\/td>\n\u00a0<\/td>\n1<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n205.67<\/td>\n\u00a0<\/td>\n65.4<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n134.43<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n215.07<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n191.16<\/td>\n\u00a0<\/td>\n72.3<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n138.16<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n219.14<\/td>\n\u00a0<\/td>\n(2.7<\/td>\n%)<\/td>\n\u00a0<\/td>\n(1.9<\/td>\n%)<\/td>\n<\/tr>\n
        Austin<\/td>\n2<\/td>\n\u00a0<\/td>\n2<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n238.80<\/td>\n\u00a0<\/td>\n52.4<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n125.10<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n231.79<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n247.35<\/td>\n\u00a0<\/td>\n66.2<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n163.68<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n292.67<\/td>\n\u00a0<\/td>\n(23.6<\/td>\n%)<\/td>\n\u00a0<\/td>\n(20.8<\/td>\n%)<\/td>\n<\/tr>\n
        Other<\/td>\n9<\/td>\n\u00a0<\/td>\n10<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n332.51<\/td>\n\u00a0<\/td>\n66.4<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n220.82<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n339.56<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n312.71<\/td>\n\u00a0<\/td>\n65.8<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n205.79<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n317.66<\/td>\n\u00a0<\/td>\n7.3<\/td>\n%<\/td>\n\u00a0<\/td>\n6.9<\/td>\n%<\/td>\n<\/tr>\n
        Domestic<\/td>\n74<\/td>\n\u00a0<\/td>\n76<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n329.75<\/td>\n\u00a0<\/td>\n70.7<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n233.06<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n388.90<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n310.56<\/td>\n\u00a0<\/td>\n71.7<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n222.80<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n370.84<\/td>\n\u00a0<\/td>\n4.6<\/td>\n%<\/td>\n\u00a0<\/td>\n4.9<\/td>\n%<\/td>\n<\/tr>\n
        \u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
        International<\/td>\n5<\/td>\n\u00a0<\/td>\n5<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n196.33<\/td>\n\u00a0<\/td>\n67.9<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n133.40<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n183.36<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n196.00<\/td>\n\u00a0<\/td>\n63.2<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n123.88<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n178.79<\/td>\n\u00a0<\/td>\n7.7<\/td>\n%<\/td>\n\u00a0<\/td>\n2.6<\/td>\n%<\/td>\n<\/tr>\n
        All Locations<\/td>\n79<\/td>\n\u00a0<\/td>\n81<\/td>\n\u00a0<\/td>\n$<\/td>\n325.30<\/td>\n\u00a0<\/td>\n70.6<\/td>\n%<\/td>\n\u00a0<\/td>\n$<\/td>\n229.61<\/td>\n\u00a0<\/td>\n$<\/td>\n381.82<\/td>\n\u00a0<\/td>\n$<\/td>\n306.99<\/td>\n\u00a0<\/td>\n71.4<\/td>\n%<\/td>\n\u00a0<\/td>\n$<\/td>\n219.32<\/td>\n\u00a0<\/td>\n$<\/td>\n364.14<\/td>\n\u00a0<\/td>\n4.7<\/td>\n%<\/td>\n\u00a0<\/td>\n4.9<\/td>\n%<\/td>\n<\/tr>\n<\/table>\n

        \n ___________<\/strong>\n <\/p>\n

        (1) Represents the results of the portfolio for the time period of our ownership, including the results of non-comparable properties, dispositions through their date of disposal and acquisitions beginning as of the date of acquisition.<\/p>\n

        \n \n <\/p>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
        \n HOST HOTELS & RESORTS, INC.<\/strong>
        \n
        \n Schedule of Comparable Hotel Results (1)<\/sup><\/strong>
        \n
        (unaudited, in millions, except hotel statistics)
        <\/strong><\/td>\n<\/tr>\n
        \u00a0<\/td>\n<\/tr>\n
        \u00a0<\/td>\n\n Quarter ended<\/strong>
        \n
        \n September 30,<\/strong>\n <\/td>\n        		\u00a0<\/td>\n\n Year-to-date ended
        September 30,<\/strong>\n <\/td>\n<\/tr>\n
        \u00a0<\/td>\n\u00a0<\/td>\n\n 2025<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n 2024<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n 2025<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n 2024<\/strong>\n <\/td>\n\u00a0<\/td>\n<\/tr>\n
        Number of hotels<\/td>\n\u00a0<\/td>\n76<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n76<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n76<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n76<\/td>\n\u00a0<\/td>\n<\/tr>\n
        Number of rooms<\/td>\n\u00a0<\/td>\n41,837<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n41,837<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n41,837<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n41,837<\/td>\n\u00a0<\/td>\n<\/tr>\n
        Change in comparable hotel Total RevPAR<\/td>\n\u00a0<\/td>\n0.8<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u2014<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n3.7<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u2014<\/td>\n\u00a0<\/td>\n<\/tr>\n
        Change in comparable hotel RevPAR<\/td>\n\u00a0<\/td>\n0.2<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u2014<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n3.5<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u2014<\/td>\n\u00a0<\/td>\n<\/tr>\n
        Operating profit margin\u207d\u00b2\u207e<\/td>\n\u00a0<\/td>\n7.6<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n10.2<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n14.7<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n16.9<\/td>\n%<\/td>\n<\/tr>\n
        Comparable hotel EBITDA margin\u207d\u00b2\u207e<\/td>\n\u00a0<\/td>\n23.9<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n24.4<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n29.2<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n29.6<\/td>\n%<\/td>\n<\/tr>\n
        Food and beverage profit margin\u207d\u00b2\u207e<\/td>\n\u00a0<\/td>\n23.6<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n26.8<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n32.0<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n34.0<\/td>\n%<\/td>\n<\/tr>\n
        Comparable hotel food and beverage profit margin\u207d\u00b2\u207e<\/td>\n\u00a0<\/td>\n24.1<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n26.6<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n32.4<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n33.7<\/td>\n%<\/td>\n<\/tr>\n
        \u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
        \n Net income<\/strong>\n <\/td>\n$<\/td>\n163<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n84<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n639<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n598<\/td>\n\u00a0<\/td>\n<\/tr>\n
        Depreciation and amortization<\/td>\n\u00a0<\/td>\n196<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n197<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n587<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n565<\/td>\n\u00a0<\/td>\n<\/tr>\n
        Interest expense<\/td>\n\u00a0<\/td>\n60<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n59<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n175<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n156<\/td>\n\u00a0<\/td>\n<\/tr>\n
        Provision for income taxes<\/td>\n\u00a0<\/td>\n9<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n6<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n35<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n20<\/td>\n\u00a0<\/td>\n<\/tr>\n
        Gain on sale of property and corporate level income\/expense<\/td>\n\u00a0<\/td>\n(104<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(18<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(103<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(51<\/td>\n)<\/td>\n<\/tr>\n
        Property transaction adjustments\u207d\u00b3\u207e<\/td>\n\u00a0<\/td>\n\u2014<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(3<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(13<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n21<\/td>\n\u00a0<\/td>\n<\/tr>\n
        Non-comparable hotel results, net\u207d\u2074\u207e<\/td>\n\u00a0<\/td>\n(15<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(12<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(37<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(51<\/td>\n)<\/td>\n<\/tr>\n
        \n Comparable hotel EBITDA\u207d\u00b9\u207e<\/strong>\n <\/td>\n$<\/td>\n309<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n313<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n1,283<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n1,258<\/td>\n\u00a0<\/td>\n<\/tr>\n<\/table>\n

        ___________
        (1) See the Notes to Financial Information for a discussion of comparable hotel results, which are non-GAAP measures, and the limitations on their use. For additional information on comparable hotel EBITDA by location, see the Third Quarter 2025 Supplemental Financial Information posted on our website.
        (2) Profit margins are calculated by dividing the applicable operating profit by the related revenue amount. GAAP profit margins are calculated using amounts presented in the unaudited condensed consolidated statements of operations. Comparable hotel margins are calculated using amounts presented in the following tables, which include reconciliations to the applicable GAAP results:<\/p>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
        \u00a0<\/td>\n<\/tr>\n
        \u00a0<\/td>\n<\/tr>\n
        \u00a0<\/td>\n\n Quarter ended September 30, 2025<\/strong>\n <\/td>\n\u00a0<\/td>\n\n Quarter ended September 30, 2024<\/strong>\n <\/td>\n<\/tr>\n
        \u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n Adjustments<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n Adjustments<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
        \u00a0<\/td>\n\n GAAP
        Results<\/strong>\n <\/td>\n        		\u00a0<\/td>\nProperty transaction
        adjustments
        \u207d\u00b3\u207e<\/td>\n        		\u00a0<\/td>\nNon-
        comparable
        hotel
        results, net
        \u207d\u2074\u207e<\/td>\n        		\u00a0<\/td>\nDepreciation
        and
        corporate
        level items<\/td>\n        		\u00a0<\/td>\n\n Comparable hotel<\/strong>
        \n
        \n Results<\/strong>\n <\/td>\n        		\u00a0<\/td>\n\n GAAP
        Results<\/strong>\n <\/td>\n        		\u00a0<\/td>\nProperty transaction
        adjustments
        (3)<\/sup><\/td>\n        		\u00a0<\/td>\nNon-
        comparable
        hotel
        results, net
        \u207d\u2074\u207e<\/td>\n        		\u00a0<\/td>\nDepreciation
        and
        corporate
        level items<\/td>\n        		\u00a0<\/td>\n\n Comparable hotel<\/strong>
        \n
        \n Results<\/strong>\n <\/td>\n<\/tr>\n
        \n Revenues<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
        Room<\/td>\n$<\/td>\n826<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n(6<\/td>\n)<\/td>\n\u00a0<\/td>\n$<\/td>\n(18<\/td>\n)<\/td>\n\u00a0<\/td>\n$<\/td>\n\u2014<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n802<\/td>\n\u00a0<\/td>\n$<\/td>\n825<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n(8<\/td>\n)<\/td>\n\u00a0<\/td>\n$<\/td>\n(17<\/td>\n)<\/td>\n\u00a0<\/td>\n$<\/td>\n\u2014<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n800<\/td>\n<\/tr>\n
        Food and beverage<\/td>\n\u00a0<\/td>\n364<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(2<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(7<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u2014<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n355<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n365<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u2014<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(9<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u2014<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n356<\/td>\n<\/tr>\n
        Other<\/td>\n\u00a0<\/td>\n141<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(1<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(4<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u2014<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n136<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n129<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n2<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(5<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u2014<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n126<\/td>\n<\/tr>\n
        Total revenues<\/td>\n\u00a0<\/td>\n1,331<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(9<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(29<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u2014<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n1,293<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n1,319<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(6<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(31<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u2014<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n1,282<\/td>\n<\/tr>\n
        \n Expenses<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
        Room<\/td>\n\u00a0<\/td>\n222<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(2<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(2<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u2014<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n218<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n216<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(1<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(3<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u2014<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n212<\/td>\n<\/tr>\n
        Food and beverage<\/td>\n\u00a0<\/td>\n278<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(2<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(7<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u2014<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n269<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n267<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n1<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(7<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u2014<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n261<\/td>\n<\/tr>\n
        Other<\/td>\n\u00a0<\/td>\n512<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(5<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(10<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u2014<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n497<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n508<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(3<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(9<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u2014<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n496<\/td>\n<\/tr>\n
        Depreciation and amortization<\/td>\n\u00a0<\/td>\n196<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u2014<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u2014<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(196<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u2014<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n197<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u2014<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u2014<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(197<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u2014<\/td>\n<\/tr>\n
        Corporate and other expenses<\/td>\n\u00a0<\/td>\n27<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u2014<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u2014<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(27<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u2014<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n25<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u2014<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u2014<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(25<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u2014<\/td>\n<\/tr>\n
        Net gain on insurance settlements<\/td>\n\u00a0<\/td>\n(5<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u2014<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n5<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u2014<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u2014<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(29<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u2014<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u2014<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n29<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u2014<\/td>\n<\/tr>\n
        Total expenses<\/td>\n\u00a0<\/td>\n1,230<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(9<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(14<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(223<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n984<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n1,184<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(3<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(19<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(193<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n969<\/td>\n<\/tr>\n
        \n Operating Profit – Comparable hotel EBITDA<\/strong>\n <\/td>\n$<\/td>\n101<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n\u2014<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n(15<\/td>\n)<\/td>\n\u00a0<\/td>\n$<\/td>\n223<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n309<\/td>\n\u00a0<\/td>\n$<\/td>\n135<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n(3<\/td>\n)<\/td>\n\u00a0<\/td>\n$<\/td>\n(12<\/td>\n)<\/td>\n\u00a0<\/td>\n$<\/td>\n193<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n313<\/td>\n<\/tr>\n<\/table>\n

        \n \n <\/p>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
        \u00a0<\/td>\n<\/tr>\n
        \u00a0<\/td>\n\n Year-to-date ended September 30, 2025<\/strong>\n <\/td>\n\u00a0<\/td>\n\n Year-to-date ended September 30, 2024<\/strong>\n <\/td>\n<\/tr>\n
        \u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n Adjustments<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n Adjustments<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
        \u00a0<\/td>\n\n GAAP
        Results<\/strong>\n <\/td>\n        		\u00a0<\/td>\nProperty
        transaction
        adjustments
        \u207d\u00b3\u207e<\/td>\n        		\u00a0<\/td>\nNon-
        comparable
        hotel
        results, net \u207d\u2074\u207e<\/td>\n        		\u00a0<\/td>\nDepreciation
        and
        corporate level
        items<\/td>\n        		\u00a0<\/td>\n\n Comparable
        hotel<\/strong>
        \n
        \n Results<\/strong>\n <\/td>\n        		\u00a0<\/td>\n\n GAAP
        Results<\/strong>\n <\/td>\n        		\u00a0<\/td>\nProperty
        transaction
        adjustments
        (3)<\/sup><\/td>\n        		\u00a0<\/td>\nNon-
        comparable
        hotel
        results, net \u207d\u2074\u207e<\/td>\n        		\u00a0<\/td>\nDepreciation
        and
        corporate level
        items<\/td>\n        		\u00a0<\/td>\n\n Comparable
        hotel<\/strong>
        \n
        \n Results<\/strong>\n <\/td>\n<\/tr>\n
        \n Revenues<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
        Room<\/td>\n$<\/td>\n2,713<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n(41<\/td>\n)<\/td>\n\u00a0<\/td>\n$<\/td>\n(41<\/td>\n)<\/td>\n\u00a0<\/td>\n$<\/td>\n\u2014<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n2,631<\/td>\n\u00a0<\/td>\n$<\/td>\n2,563<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n37<\/td>\n\u00a0<\/td>\n$<\/td>\n(50<\/td>\n)<\/td>\n\u00a0<\/td>\n$<\/td>\n\u2014<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n2,550<\/td>\n\u00a0<\/td>\n<\/tr>\n
        Food and beverage<\/td>\n\u00a0<\/td>\n1,345<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(12<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(17<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u2014<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n1,316<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n1,285<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n25<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(29<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u2014<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n1,281<\/td>\n\u00a0<\/td>\n<\/tr>\n
        Other<\/td>\n\u00a0<\/td>\n453<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(4<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(8<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u2014<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n441<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n408<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n20<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(14<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u2014<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n414<\/td>\n\u00a0<\/td>\n<\/tr>\n
        Total revenues<\/td>\n\u00a0<\/td>\n4,511<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(57<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(66<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u2014<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n4,388<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n4,256<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n82<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(93<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u2014<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n4,245<\/td>\n\u00a0<\/td>\n<\/tr>\n
        \n Expenses<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
        Room<\/td>\n\u00a0<\/td>\n680<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(9<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(8<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u2014<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n663<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n632<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n11<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(9<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u2014<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n634<\/td>\n\u00a0<\/td>\n<\/tr>\n
        Food and beverage<\/td>\n\u00a0<\/td>\n914<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(9<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(15<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u2014<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n890<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n848<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n21<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(19<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u2014<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n850<\/td>\n\u00a0<\/td>\n<\/tr>\n
        Other<\/td>\n\u00a0<\/td>\n1,608<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(26<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(30<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u2014<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n1,552<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n1,528<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n29<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(33<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u2014<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n1,524<\/td>\n\u00a0<\/td>\n<\/tr>\n
        Depreciation and amortization<\/td>\n\u00a0<\/td>\n587<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u2014<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u2014<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(587<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u2014<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n565<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u2014<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u2014<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(565<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u2014<\/td>\n\u00a0<\/td>\n<\/tr>\n
        Corporate and other expenses<\/td>\n\u00a0<\/td>\n83<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u2014<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u2014<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(83<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u2014<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n81<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u2014<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u2014<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(81<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u2014<\/td>\n\u00a0<\/td>\n<\/tr>\n
        Net gain on insurance settlements<\/td>\n\u00a0<\/td>\n(24<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u2014<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n24<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u2014<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u2014<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(116<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u2014<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n19<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n76<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(21<\/td>\n)<\/td>\n<\/tr>\n
        Total expenses<\/td>\n\u00a0<\/td>\n3,848<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(44<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(29<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(670<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n3,105<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n3,538<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n61<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(42<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(570<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n2,987<\/td>\n\u00a0<\/td>\n<\/tr>\n
        \n Operating Profit – Comparable hotel EBITDA<\/strong>\n <\/td>\n$<\/td>\n663<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n(13<\/td>\n)<\/td>\n\u00a0<\/td>\n$<\/td>\n(37<\/td>\n)<\/td>\n\u00a0<\/td>\n$<\/td>\n670<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n1,283<\/td>\n\u00a0<\/td>\n$<\/td>\n718<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n21<\/td>\n\u00a0<\/td>\n$<\/td>\n(51<\/td>\n)<\/td>\n\u00a0<\/td>\n$<\/td>\n570<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n1,258<\/td>\n\u00a0<\/td>\n<\/tr>\n<\/table>\n

        (3) Property transaction adjustments represent the following items: (i) the elimination of results of operations of hotels sold or held-for-sale as of the reporting date, which operations are included in our unaudited condensed consolidated statements of operations as continuing operations, and (ii) the addition of results for periods prior to our ownership for hotels acquired as of the reporting date.
        (4) Non-comparable hotel results, net, includes the following items: (i)\u202fthe results of operations of our non-comparable hotels, which operations are included in our condensed consolidated statements of operations as continuing operations, and (ii)\u202fgains on business interruption proceeds covering lost revenues while the property was considered non-comparable.\u202f<\/p>\n

        \n \n <\/p>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
        \n HOST HOTELS & RESORTS, INC.<\/strong>
        \n
        \n Reconciliation of Net Income to<\/strong>
        \n
        \n EBITDA, EBITDAre and Adjusted EBITDAre (1)<\/sup><\/strong>
        \n
        (unaudited, in millions)<\/td>\n<\/tr>\n
        \u00a0<\/td>\n<\/tr>\n
        \u00a0<\/td>\n\n Quarter ended September 30,<\/strong>\n <\/td>\n\u00a0<\/td>\n\n Year-to-date ended September 30,<\/strong>\n <\/td>\n<\/tr>\n
        \u00a0<\/td>\n\u00a0<\/td>\n\n 2025<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n 2024<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n 2025<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n 2024<\/strong>\n <\/td>\n\u00a0<\/td>\n<\/tr>\n
        \n Net income\u207d\u00b2\u207e<\/strong>\n <\/td>\n$<\/td>\n163<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n84<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n639<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n598<\/td>\n\u00a0<\/td>\n<\/tr>\n
        Interest expense<\/td>\n\u00a0<\/td>\n60<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n59<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n175<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n156<\/td>\n\u00a0<\/td>\n<\/tr>\n
        Depreciation and amortization<\/td>\n\u00a0<\/td>\n196<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n197<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n587<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n565<\/td>\n\u00a0<\/td>\n<\/tr>\n
        Income taxes<\/td>\n\u00a0<\/td>\n9<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n6<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n35<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n20<\/td>\n\u00a0<\/td>\n<\/tr>\n
        \n EBITDA\u207d\u00b2\u207e<\/strong>\n <\/td>\n\u00a0<\/td>\n428<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n346<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n1,436<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n1,339<\/td>\n\u00a0<\/td>\n<\/tr>\n
        Gain on dispositions\u207d\u00b3\u207e<\/td>\n\u00a0<\/td>\n(122<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u2014<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(143<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u2014<\/td>\n\u00a0<\/td>\n<\/tr>\n
        Equity investment adjustments:<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
        Equity in earnings of affiliates<\/td>\n\u00a0<\/td>\n(2<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(2<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(16<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(12<\/td>\n)<\/td>\n<\/tr>\n
        Pro rata EBITDAre of equity investments\u207d\u2074\u207e<\/td>\n\u00a0<\/td>\n10<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n9<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n36<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n32<\/td>\n\u00a0<\/td>\n<\/tr>\n
        \n EBITDAre\u207d\u00b2\u207e<\/strong>\n <\/td>\n\u00a0<\/td>\n314<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n353<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n1,313<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n1,359<\/td>\n\u00a0<\/td>\n<\/tr>\n
        Adjustments to EBITDAre:<\/em><\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
        Net gain on property insurance settlements<\/td>\n\u00a0<\/td>\n\u2014<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(29<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u2014<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(76<\/td>\n)<\/td>\n<\/tr>\n
        Non-cash stock-based compensation expense\u207d\u2075\u207e<\/td>\n\u00a0<\/td>\n5<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n6<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n16<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n17<\/td>\n\u00a0<\/td>\n<\/tr>\n
        \n Adjusted EBITDAre\u207d\u00b2\u207e<\/strong>\n <\/td>\n$<\/td>\n319<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n330<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n1,329<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n1,300<\/td>\n\u00a0<\/td>\n<\/tr>\n<\/table>\n

        ___________
        (1) See the Notes to Financial Information for discussion of non-GAAP measures.
        (2) Net income, EBITDA, EBITDAre<\/em>, Adjusted EBITDAre<\/em>, NAREIT FFO and Adjusted FFO for the year-to-date ended September\u00a030, 2025 include a gain of $4 million from the sale of land adjacent to The Phoenician hotel.
        (3) Reflects the sale of two hotels in 2025, and the sale of the Asia\/Pacific joint venture’s interest in two separate joint ventures in India in the third quarter of 2025, representing our exit from our Asia investment.
        (4) Unrealized gains of our unconsolidated investments are not recognized in our EBITDAre, Adjusted EBITDAre, NAREIT FFO or Adjusted FFO until they have been realized by the unconsolidated partnership.
        (5) Effective January 1, 2025, we exclude the expense recorded for non-cash stock-based compensation, as it represents a non-cash transaction and the add back is consistent with the calculation of Adjusted EBITDA for our financial covenant ratios. Prior year results have been updated to conform with the current year presentation. See the Notes to Financial Information for more information on this change.<\/p>\n

        \n \n <\/p>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
        \n HOST HOTELS & RESORTS, INC.<\/strong>
        \n
        \n Reconciliation of Diluted Earnings per Common Share to<\/strong>
        \n
        \n NAREIT and Adjusted Funds From Operations per Diluted Share (1)<\/sup><\/strong>
        \n
        (unaudited, in millions, except per share amounts)<\/td>\n<\/tr>\n
        \u00a0<\/td>\n<\/tr>\n
        \u00a0<\/td>\n\n Quarter ended September 30,<\/strong>\n <\/td>\n\u00a0<\/td>\n\n Year-to-date ended September 30,<\/strong>\n <\/td>\n<\/tr>\n
        \u00a0<\/td>\n\u00a0<\/td>\n\n 2025<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n 2024<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n 2025<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n 2024<\/strong>\n <\/td>\n\u00a0<\/td>\n<\/tr>\n
        \n Net income\u207d\u00b2\u207e<\/strong>\n <\/td>\n$<\/td>\n163<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n84<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n639<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n598<\/td>\n\u00a0<\/td>\n<\/tr>\n
        Less: Net income attributable to non-controlling interests<\/td>\n\u00a0<\/td>\n(2<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(2<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(9<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(9<\/td>\n)<\/td>\n<\/tr>\n
        \n Net income attributable to Host Inc.<\/strong>\n <\/td>\n\u00a0<\/td>\n161<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n82<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n630<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n589<\/td>\n\u00a0<\/td>\n<\/tr>\n
        Adjustments:<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
        Gain on dispositions\u207d\u00b3\u207e<\/td>\n\u00a0<\/td>\n(122<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u2014<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(143<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u2014<\/td>\n\u00a0<\/td>\n<\/tr>\n
        Net gain on property insurance settlements<\/td>\n\u00a0<\/td>\n\u2014<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(29<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u2014<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(76<\/td>\n)<\/td>\n<\/tr>\n
        Depreciation and amortization<\/td>\n\u00a0<\/td>\n196<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n197<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n586<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n564<\/td>\n\u00a0<\/td>\n<\/tr>\n
        Equity investment adjustments:<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
        Equity in earnings of affiliates<\/td>\n\u00a0<\/td>\n(2<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(2<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(16<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(12<\/td>\n)<\/td>\n<\/tr>\n
        Pro rata FFO of equity investments\u207d\u2074\u207e<\/td>\n\u00a0<\/td>\n4<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n5<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n20<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n18<\/td>\n\u00a0<\/td>\n<\/tr>\n
        Consolidated partnership adjustments:<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
        FFO adjustment for non-controlling partnerships<\/td>\n\u00a0<\/td>\n(1<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(1<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(1<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(1<\/td>\n)<\/td>\n<\/tr>\n
        FFO adjustments for non-controlling interests of Host L.P.<\/td>\n\u00a0<\/td>\n(1<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(2<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(6<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(7<\/td>\n)<\/td>\n<\/tr>\n
        \n NAREIT FFO\u207d\u00b2\u207e<\/strong>\n <\/td>\n\u00a0<\/td>\n235<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n250<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n1,070<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n1,075<\/td>\n\u00a0<\/td>\n<\/tr>\n
        Adjustments to NAREIT FFO:<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
        Non-cash stock-based compensation expense\u207d\u2075\u207e<\/td>\n\u00a0<\/td>\n5<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n6<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n16<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n17<\/td>\n\u00a0<\/td>\n<\/tr>\n
        \n Adjusted FFO\u207d\u00b2\u207e<\/strong>\n <\/td>\n$<\/td>\n240<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n256<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n1,086<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n1,092<\/td>\n\u00a0<\/td>\n<\/tr>\n
        \u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
        \n For calculation on a per share basis:<\/strong>
        \n
        \n (6)<\/strong>
        \n <\/sup>\n <\/td>\n        		\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
        \u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
        \n Diluted weighted average shares outstanding – EPS, NAREIT FFO and Adjusted FFO<\/strong>\n <\/td>\n\u00a0<\/td>\n689.5<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n702.4<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n694.5<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n704.7<\/td>\n\u00a0<\/td>\n<\/tr>\n
        \n Diluted earnings per common share<\/strong>\n <\/td>\n$<\/td>\n0.23<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n0.12<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n0.91<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n0.84<\/td>\n\u00a0<\/td>\n<\/tr>\n
        \n NAREIT FFO per diluted share<\/strong>\n <\/td>\n$<\/td>\n0.34<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n0.36<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n1.54<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n1.53<\/td>\n\u00a0<\/td>\n<\/tr>\n
        \n Adjusted FFO per diluted share<\/strong>\n <\/td>\n$<\/td>\n0.35<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n0.36<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n1.56<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n1.55<\/td>\n\u00a0<\/td>\n<\/tr>\n<\/table>\n

        ___________<\/p>\n

        (1-5) Refer to the corresponding footnote on the Reconciliation of Net Income to EBITDA, EBITDAre<\/em> and Adjusted EBITDAre<\/em>.
        (6) Diluted earnings per common share, NAREIT FFO per diluted share and Adjusted FFO per diluted share are adjusted for the effects of dilutive securities. Dilutive securities may include shares granted under comprehensive stock plans, preferred OP units held by non-controlling limited partners and other non-controlling interests that have the option to convert their limited partner interests to common OP units. No effect is shown for securities if they are anti-dilutive.<\/p>\n

        \n \n <\/p>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
        \n HOST HOTELS & RESORTS, INC.<\/strong>
        \n
        \n Reconciliation of Net Income to<\/strong>
        \n
        \n EBITDA, EBITDAre and Adjusted EBITDAre and Diluted Earnings per Common Share to<\/strong>
        \n
        \n NAREIT and Adjusted Funds From Operations per Diluted Share for Full Year 2025 Forecasts (1)(2)<\/sup><\/strong>
        \n
        (unaudited, in millions)
        <\/strong><\/td>\n<\/tr>\n
        \u00a0<\/td>\n<\/tr>\n
        \u00a0<\/td>\n\n Full Year <\/strong>
        \n 2025<\/strong>\n <\/td>\n<\/tr>\n
        \n Net income<\/strong>\n <\/td>\n$<\/td>\n780<\/td>\n\u00a0<\/td>\n<\/tr>\n
        Interest expense<\/td>\n\u00a0<\/td>\n237<\/td>\n\u00a0<\/td>\n<\/tr>\n
        Depreciation and amortization<\/td>\n\u00a0<\/td>\n784<\/td>\n\u00a0<\/td>\n<\/tr>\n
        Income taxes<\/td>\n\u00a0<\/td>\n40<\/td>\n\u00a0<\/td>\n<\/tr>\n
        \n EBITDA<\/strong>\n <\/td>\n\u00a0<\/td>\n1,841<\/td>\n\u00a0<\/td>\n<\/tr>\n
        Gain on dispositions<\/td>\n\u00a0<\/td>\n(163<\/td>\n)<\/td>\n<\/tr>\n
        Equity investment adjustments:<\/td>\n\u00a0<\/td>\n<\/tr>\n
        Equity in earnings of affiliates<\/td>\n\u00a0<\/td>\n(18<\/td>\n)<\/td>\n<\/tr>\n
        Pro rata EBITDAre of equity investments<\/td>\n\u00a0<\/td>\n46<\/td>\n\u00a0<\/td>\n<\/tr>\n
        \n EBITDAre<\/strong>\n <\/td>\n\u00a0<\/td>\n1,706<\/td>\n\u00a0<\/td>\n<\/tr>\n
        Adjustments to EBITDAre:<\/td>\n\u00a0<\/td>\n<\/tr>\n
        Non-cash stock-based compensation expense \u207d\u00b2\u207e<\/td>\n\u00a0<\/td>\n24<\/td>\n\u00a0<\/td>\n<\/tr>\n
        \n Adjusted EBITDAre<\/strong>\n <\/td>\n$<\/td>\n1,730<\/td>\n\u00a0<\/td>\n<\/tr>\n<\/table>\n

        \n \n <\/p>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
        \u00a0<\/td>\n\n Full Year <\/strong>
        \n 2025<\/strong>\n <\/td>\n<\/tr>\n
        \n Net income<\/strong>\n <\/td>\n$<\/td>\n780<\/td>\n\u00a0<\/td>\n<\/tr>\n
        Less: Net income attributable to non-controlling interests<\/td>\n\u00a0<\/td>\n(11<\/td>\n)<\/td>\n<\/tr>\n
        \n Net income attributable to Host Inc.<\/strong>\n <\/td>\n\u00a0<\/td>\n769<\/td>\n\u00a0<\/td>\n<\/tr>\n
        Adjustments:<\/td>\n\u00a0<\/td>\n<\/tr>\n
        Gain on dispositions<\/td>\n\u00a0<\/td>\n(163<\/td>\n)<\/td>\n<\/tr>\n
        Depreciation and amortization<\/td>\n\u00a0<\/td>\n782<\/td>\n\u00a0<\/td>\n<\/tr>\n
        Equity investment adjustments:<\/td>\n\u00a0<\/td>\n<\/tr>\n
        Equity in earnings of affiliates<\/td>\n\u00a0<\/td>\n(18<\/td>\n)<\/td>\n<\/tr>\n
        Pro rata FFO of equity investments<\/td>\n\u00a0<\/td>\n24<\/td>\n\u00a0<\/td>\n<\/tr>\n
        Consolidated partnership adjustments:<\/td>\n\u00a0<\/td>\n<\/tr>\n
        FFO adjustment for non-controlling partnerships<\/td>\n\u00a0<\/td>\n(1<\/td>\n)<\/td>\n<\/tr>\n
        FFO adjustment for non-controlling interests of Host LP<\/td>\n\u00a0<\/td>\n(8<\/td>\n)<\/td>\n<\/tr>\n
        \n NAREIT FFO<\/strong>\n <\/td>\n\u00a0<\/td>\n1,385<\/td>\n\u00a0<\/td>\n<\/tr>\n
        Adjustments to NAREIT FFO:<\/td>\n\u00a0<\/td>\n<\/tr>\n
        Non-cash stock-based compensation expense \u207d\u00b2\u207e<\/td>\n\u00a0<\/td>\n24<\/td>\n\u00a0<\/td>\n<\/tr>\n
        \n Adjusted FFO<\/strong>\n <\/td>\n$<\/td>\n1,409<\/td>\n\u00a0<\/td>\n<\/tr>\n
        \u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
        \n Diluted weighted average shares outstanding – EPS, NAREIT FFO and Adjusted FFO<\/strong>\n <\/td>\n\u00a0<\/td>\n694.1<\/td>\n\u00a0<\/td>\n<\/tr>\n
        \n Diluted earnings per common share<\/strong>\n <\/td>\n$<\/td>\n1.11<\/td>\n\u00a0<\/td>\n<\/tr>\n
        \n NAREIT FFO per diluted share<\/strong>\n <\/td>\n$<\/td>\n2.00<\/td>\n\u00a0<\/td>\n<\/tr>\n
        \n Adjusted FFO per diluted share<\/strong>\n <\/td>\n$<\/td>\n2.03<\/td>\n\u00a0<\/td>\n<\/tr>\n<\/table>\n

        _______________<\/p>\n

        (1)\u00a0\u00a0\u00a0\u00a0The Forecasts are based on the below assumptions:<\/p>\n