Investment Thesis
Host Hotels & Resorts owns luxury and upper-upscale hotels primarily under Marriott, Hyatt, and Hilton flags. Asset sales, redevelopment, and a fortress balance sheet drive EBITDA growth through cycles.
- Premium Portfolio: Urban and resort assets capture high ADR leisure and group demand.
- Capital Recycling: Dispositions and JV structures fund renovations and share buybacks.
- Operational Leverage: Scale and brand relationships enhance revenue management.