Summary by Moomoo AI
On May 1, 2024, Host Hotels & Resorts, Inc. (NASDAQ: HST), the nation's largest lodging real estate investment trust (REIT), reported its financial results for the first quarter ended March 31, 2024. The company announced a 6.5% increase in revenues to $1.471 billion compared to $1.381 billion in the same period of the previous year. However, net income saw a decrease of 6.5% to $272 million from $291 million in Q1 2023. The company experienced a slight 0.5% growth in Comparable hotel Total RevPAR, but Comparable hotel RevPAR decreased by 1.2%. Adjusted EBITDAre improved by 8.8% to $483 million. The diluted earnings per common share were down 5% to $0.38. Host Hotels & Resorts also announced the acquisition of 1 Hotel Nashville and Embassy Suites by Hilton Nashville Downtown, which was completed after the quarter ended, for a total purchase...Show More