Host Hotels & Resorts lowers FY24 earnings guidance, projecting EPS below analyst estimates.

Host Hotels & Resorts, the largest U.S. lodging REIT, has revised its FY24 earnings guidance, projecting an EPS of $1.92-$1.94, below the consensus estimate of $1.96. Revenue guidance is set at $5.637 billion, slightly lower than expected. Despite a 3.1% RevPAR growth in Q3 2024 and a 6.7% increase in total revenues to $4.256 billion year-to-date, net income dropped 25.7%. The stock rose to $17.99, with an average analyst rating of "Moderate Buy."

November 06, 2024
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