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Host Hotels & Resorts

Host Hotels & Resorts, Inc.
FormerlyHost Marriott Corporation (1993-2005)
Company typePublic
Nasdaq: HST
S&P 500 component
IndustryReal estate investment trust
Founded1993; 31 years ago (1993)
Headquarters4747 Bethesda Avenue, Suite 1300,
Bethesda, Maryland[1]
,
United States
Key people
 Richard E. Marriott (chairman)
James F. Risoleo (president & CEO)
Sourav Ghosh (CFO)
Revenue$5.311 billion (2023)
$752 million (2023)
Total assets$12.243 billion (2023)
Total equity$6.637 billion (2023)
Number of employees
163 (2024)
Websitehosthotels.com
Footnotes / references
[1]

Host Hotels & Resorts, Inc. is an American real estate investment trust that invests in hotels. As of December 31, 2023, the company owned 77 upscale hotels containing approximately 42,000 rooms in the United States, Brazil, and Canada.[1] The company, based in Bethesda, Maryland, is listed on Nasdaq, and is a component of the Nasdaq Financial-100 and the S&P 500 indices.

History

In 1927, John Willard Marriott and his wife Alice opened a root beer stand in Washington, D.C. that they named “The Hot Shoppe,” which later became a public company.[2] In 1957, Hot Shoppes, Inc. expanded into the lodging business with the opening of its first hotel in Arlington, Virginia, and in 1967, the company was renamed Marriott Corporation.[2]

In 1897, the Van Noy Brothers of Kansas City, Missouri, formed Van Noy Railway News and Hotel Company to operate news stands along the Missouri Pacific and other regional railroads. The company later expanded to various hospitality services, including hotels. After several name and business changes it became the Host International Company in 1968. It was acquired by Marriott Corporation in 1982.[3][4]

In 1993, Marriott Corporation divided its business into two companies: Marriott International, Inc., which took over management and franchising, and Host Marriott Corporation, which became the new name for the original Marriott Corporation.[5][6] Host Marriott managed lodging and travel concessions at airports and along turnpikes and interstate highways.[6] The concession businesses were further spun off as Host Marriott Services, or HMSHost.[5]

After the company divested its non-hotel business and reorganized as a real estate investment trust in 1998,[7] it adopted its current name—Host Hotels & Resorts, Inc.—in 2006.[8][9]

On November 2, 2020, Host Hotels & Resorts switched its stock listing from the New York Stock Exchange to the Nasdaq Global Select Market.[10] The last day of trading on the NYSE was October 30, 2020. Host's stock remained under the ticker symbol "HST".

References

  1. ^ a b c "Host Hotels & Resorts, Inc. 2023 Form 10-K Annual Report". U.S. Securities and Exchange Commission.
  2. ^ a b "Our Story of Innovation". www.marriott.com. Retrieved 2024-03-21.
  3. ^ "Marriott Offers To Buy Gino's". The New York Times. Associated Press. January 5, 1982.
  4. ^ Jones, William H. (December 21, 1981). "The Marriott 'Snack Attack'". The Washington Post.
  5. ^ a b "Host Marriott to Separate Concessions Unit From Hotel Holdings". The New York Times. August 10, 1995.
  6. ^ a b "Marriott's Big Split". The Washington Post. July 18, 1993.
  7. ^ "REIT Plan Finished, Host Marriott Says". The New York Times. January 1, 1999.
  8. ^ Rosenwald, Michael S. (November 15, 2005). "Host Marriott To Buy 38 Hotels". The Washington Post.
  9. ^ "Host Marriott Buys Starwood Hotels for $4B". Fox News. Reuters. November 14, 2005.
  10. ^ https://www.bizjournals.com/washington/news/2020/10/19/host-hotels-to-transfer-to-nasdaq-stock-exchange.html
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