Host Hotels & Resorts (HST) FY2025 10-K Annual Report
Host Hotels & Resorts (HST) 10-K annual report for fiscal year 2025, filed with SEC EDGAR on Feb 25, 2026. This page provides AI-powered analysis including business overview, management discussion & analysis (MD&A), risk factors, and key financial data such as revenue, net income, gross margin, operating margin, and return on equity (ROE) extracted from XBRL.
Host Hotels & Resorts FY2025 10-K Analysis
Business Overview
- • Largest publicly traded lodging REIT; 76 luxury/upper-upscale hotels (~41,700 rooms), ~62.9% of revenues from Marriott-branded properties
- • Asia/Pacific exit completed in 2025: JV sold its 36% share in two India joint ventures, ending Host's Asia investment
Management Discussion & Analysis
- • Total revenues $6,114M, up $430M or 7.6% YoY; driven by strong transient demand, F&B growth, and $99M condominium sales
- • GAAP operating profit margin 14.0% vs 15.4%; comparable hotel EBITDA margin 28.9% vs 29.3%; both pressured by ~5% wage inflation and $86M decline in insurance settlement gains
Risk Factors
- • Marriott concentration risk: ~64% of 2025 hotel revenues managed/franchised by Marriott; prior $52M FTC/state AG settlement for 2014–2018 data breach, ongoing litigation
- • Total debt $5.1B as of Dec 31, 2025; REIT rules require distributing ≥90% of taxable income, forcing reliance on external capital markets for growth and debt repayment
Host Hotels & Resorts FY2025 Key Financial MetricsXBRL
Revenue
$6.1B
▲ +7.6% YoY
Net Income
$765M
▲ +9.8% YoY
Operating Margin
14.0%
▼ -141bp YoY
Net Margin
12.5%
▲ +25bp YoY
ROE
11.7%
▲ +112bp YoY
Total Assets
$13.0B
▲ +0.0% YoY
EPS (Diluted)
$1.10
▲ +11.1% YoY
Operating Cash Flow
$1.5B
▲ +0.8% YoY
Source: XBRL data from Host Hotels & Resorts FY2025 10-K filing on SEC EDGAR. All figures in USD.
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