Host Hotels Q3 2026: RevPAR up 8.8%, GAAP EPS falls on asset-sale swing
Host Hotels had a strong operating quarter where it counts for a hotel REIT: comparable RevPAR rose 8.8% and comparable hotel EBITDA rose 11.4%, and full-year guidance went up again. The ugly headline — GAAP net income down 56.4% to $71 million — is mostly the absence of last year's $122 million asset-sale gain. Read the operating line, not the EPS line.
1 · Expected vs. Actual
Free preview belowDiluted GAAP EPS of $0.10 landed essentially on the $0.101 consensus, so there was no earnings surprise. The 56.5% year-over-year drop is an accounting echo: the year-ago quarter carried a $122 million gain on asset sales versus a $6 million other loss this year. The REIT cash-flow measure tells the better story, with Adjusted FFO per diluted share up 11.4% to $0.39.
Revenue rose just 1.2% to $1.347 billion, but the reported base was shrunk by hotels sold since last year while comparable hotel revenue grew 7.4% to $1.312 billion. Rate did the work, up 5.7%, with occupancy adding 2.1 points. Only $7 million of the quarter came from condominium sales.
Full-year revenue guidance now sits at a $6.213 billion midpoint, above the $6.1385 billion midpoint given three months ago and 1.6% above 2025. Net income of $978 million, diluted EPS of $1.40 and Adjusted EBITDAre of $1.865 billion were all nudged higher. The bigger move is comparable RevPAR growth, lifted to 6.75% from a 5.0% prior midpoint.
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Figures on this page come from the company's original SEC filings. The analysis is generated automatically and checked against validation rules, but may still contain errors or omissions. Not investment advice. · Generated 2026-11-06
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