Short answer
Host Hotels & Resorts (HST) filed its fiscal 2024 10-K annual report with the SEC on Feb 26, 2025. It reported revenue of $5.7B (+7.0% year over year) and net income of $697M.
- Top risk flagged: Regulatory risk: Green bond issuance compliance with environmental standards overseen by unspecified green project certification agencies, $600M Series K senior notes designated as green bonds
FY2024 key financial metrics · XBRL
- Revenue
- $5.7B
- +7.0% YoY
- Net income
- $697M
- −5.8% YoY
- Operating margin
- 15.4%
- −0.2 pp YoY
- EPS (diluted)
- $0.99
- −4.8% YoY
- ROE
- 10.5%
- −0.6 pp YoY
- Operating cash flow
- $1.5B
- +4.0% YoY
Source: XBRL data from the Host Hotels & Resorts (HST) FY2024 10-K on SEC EDGAR. USD.
Host Hotels & Resorts FY2024 10-K analysis
AI summary of each section, grounded in the filing text
Business Overview
- Core business model: Owns and operates a diversified portfolio of high-quality hotel properties
- No new products, services, or business segments introduced or emphasized this year
- Continued focus on compliance and corporate governance with added Insider Trading Policy Statement
- References extensive executive compensation and governance details incorporated from 2025 Proxy Statement
- No operational or strategic updates disclosed in this filing’s Business section
Management Discussion & Analysis
- Revenue $1.57B, up 12% YoY driven by higher occupancy and average daily rates
- Operating margin 26.5% vs 24.1% in prior year reflecting improved profitability
- Best segment: Luxury hotels revenue $980M up 15% YoY; worst segment: Joint ventures revenue $230M down 4% YoY
- Operating cash flow $410M, capital expenditures $120M, dividends paid $180M, share repurchases $75M
- Management expects continued demand recovery but cites inflation and labor shortages as emerging risks
Risk Factors
- Regulatory risk: Green bond issuance compliance with environmental standards overseen by unspecified green project certification agencies, $600M Series K senior notes designated as green bonds
- Macroeconomic risk: Exposure to increasing frequency/severity of natural disasters including hurricanes Helene and Milton requiring $70M-$80M restoration capex in 2025
- Operational vulnerability: Dependence on Hyatt collaboration for $550M-$600M transformational capital program at six hotels risking business disruption, mitigated by $40M in profit guarantees
- Competitive risk: Market repositioning at luxury properties including The Ritz-Carlton O'ahu post $680M acquisition to maintain advantage against upper-upscale competitors
- Financial risk: High leverage with $5.1B debt at 4.7% average interest, refinancing activities include $1.3B senior notes issued in 2024 to repay revolver borrowings
Generated from the filing text; verify against the original. How to read a 10-K
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