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Host Hotels (HST) posts better-than-expected Q1 results on higher revenues aided by improvements in group and contract business. It has also raised its 2024 AFFO per share outlook.
Host Hotels' (HST) Q1 results outshine estimates on higher revenues, driven by a rise in room & F&B revenues.
Although the revenue and EPS for Host Hotels (HST) give a sense of how its business performed in the quarter ended March 2024, it might be worth considering how some key metrics compare with Wall Street estimates and the year-ago numbers.
Host Hotels' (HST) Q1 earnings are likely to have benefited from the continued recovery in group travel and business transient demand. However, high interest expenses raise concerns.
Beyond analysts' top -and-bottom-line estimates for Host Hotels (HST), evaluate projections for some of its key metrics to gain a better insight into how the business might have performed for the quarter ended March 2024.
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Despite the generally unattractive nature of the travel industry, particularly affected by economic cycles and competition, Host Hotels & Resorts is probably one of the best lodging REITs. Host Hotels has demonstrated resilience with healthy profit margins, a strategic buyback program, and significant returns on sustainability investments, outperforming many of its peers even in challenging conditions. Looking ahead, Host Hotels expects continued revenue growth per available room but faces potential pressures on margins due to rising costs. The company also faces competition from alternative accommodation providers.
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Host Hotels (HST) might move higher on growing optimism about its earnings prospects, which is reflected by its upgrade to a Zacks Rank #1 (Strong Buy).