Last €16.20 EUR
Change Today +0.105 / 0.65%
Volume 10.0
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As of 2:04 AM 07/9/14 All times are local (Market data is delayed by at least 15 minutes).
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Company Description

Contact Info

6903 Rockledge Drive

Suite 1500

Bethesda, MD 20817

United States

Phone: 240-744-1000

Fax:

Host Hotels & Resorts, Inc. operates as a self-managed and self-administered real estate investment trust. The company primarily owns and operates hotel properties. The company’s operations are conducted solely through an operating partnership, Host Hotels & Resorts, L.P. (Host LP) and its subsidiaries. The company is the sole general partner of Host LP and own approximately 96.5% of the partnership interests. The company owned or has controlling interests in luxury and upper upscale, hotel lodging properties operated primarily under the Marriott, Ritz-Carlton, Hyatt, Fairmont, Four Seasons, Hilton, Westin Sheraton, W, St. Regis and Luxury Collection brand names. Hotel Properties As of February 23, 2007, the company’s lodging portfolio primarily consists of 123 luxury and upper upscale hotels containing approximately 65,600 rooms. The company’s portfolio is geographically diverse with hotels in most of the major metropolitan areas in 26 states, Washington, D.C., Toronto and Calgary, Canada, Mexico City, Mexico and Santiago, Chile. The company’s locations primarily include central business districts of major cities, airport areas and resort/convention destinations. The company’s properties typically include meeting and banquet facilities, a variety of restaurants and lounges, swimming pools, exercise facilities and/or spas, gift shops and parking facilities, the combination of which enable them to serve business, leisure and group travelers. Other Real Estate Investments European Joint Venture: In March 2006, the company entered into an Agreement of Limited Partnership, forming a joint venture to acquire hotels in Europe with Stichting Pensioenfonds ABP, the Dutch pension fund (ABP), and Jasmine Hotels Pte Ltd, an affiliate of GIC Real Estate Pte Ltd (GIC RE), the real estate investment company of the Government of Singapore Investment Corporation Pte Ltd (GIC). Host LP is a limited partner and serves as the general partner. The percentage interests of the parties are 19.9% for ABP, 48% for GIC RE and 32.1% for Host LP (including its limited and general partner interests). As of December 31, 2006, the European Joint Venture owns seven hotels in four countries, including Italy, Spain, United Kingdom and Poland. Other Investments: The company own 3.6% limited partner interest in CBM Joint Venture Limited Partnership, which owns 116 Courtyard by Marriott properties. The company own a leasehold interest in 53 Courtyard by Marriott properties and 18 Residence Inn by Marriott properties (the HPT Properties), which were sold to Hospitality Properties Trust, Inc. The company also has 49% limited partner interest in Tiburon Golf Ventures, L.P., which owns the golf club surrounding The Ritz-Carlton, Naples Golf Resort. Foreign Operations The company own four properties in Canada, one in Mexico and two in Chile containing approximately 2,500 rooms. Tax Status The company intends to qualify as an REIT and that it requires to distribute 90% of its taxable income to its shareholders. Joint Venture The company and RECO Hotels JV Private Limited have entered into a joint venture, structured as a Singapore corporation. GIC Real Estate is the real estate investment company of the Government of Singapore Investment Corporation Pte Ltd. The joint venture would explore investment opportunities in Asia and Australia. History Host Hotels & Resorts, Inc. was founded in 1998. The company was formerly known as Host Marriott Corporation and changed its name to Host Hotels & Resorts, Inc. in April 2006.

 

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