Host Hotels & Resorts

{{short description|International hotel company in Bethesda, Maryland, United States}}

{{Infobox company

| name = Host Hotels & Resorts, Inc.

| former_name = Host Marriott Corporation (1993-2005)

| logo = Host Hotels & Resorts Update Logo.jpg

| type = Public

| traded_as = {{ubl|{{NASDAQ|HST}}|S&P 500 component}}

| founded = {{Start date and age|1993}}

| hq_location_city = Bethesda, Maryland

| hq_location_country = United States

| industry = Real estate investment trust

| key_people = {{nowrap| Richard E. Marriott (chairman)
James F. Risoleo (president & CEO)
Sourav Ghosh (CFO)}}

| revenue = {{US$|5.311 billion|link=yes}} (2023)

| net_income = US$752 million (2023)

| assets = US$12.243 billion (2023)

| equity = US$6.637 billion (2023)

| num_employees = 163 (2024)

| website = {{URL|hosthotels.com}}

| footnotes = {{cite web | url=https://www.sec.gov/ixviewer/ix.html?doc=/Archives/edgar/data/0001070750/000107075024000081/hst-20231231.htm | title=Host Hotels & Resorts, Inc. 2023 Form 10-K Annual Report | publisher=U.S. Securities and Exchange Commission}}

| image = Host Hotels HQ Bethesda MD HST 20210314 181959 1 crop.jpg

| image_caption = Corporate Headquarters

}}

Host Hotels & Resorts, Inc., based in Bethesda, Maryland, 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.

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. 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.{{Cite web |title=Our Story of Innovation |url=https://www.marriott.com/about/culture-and-values/history.mi#earlyyears |access-date=2024-03-21 |website=www.marriott.com |language=en-US}}

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.{{cite news | url=https://www.nytimes.com/1982/01/05/business/marriott-offers-to-buy-gino-s.html | title=Marriott Offers To Buy Gino's | agency=Associated Press | work=The New York Times | date=January 5, 1982 | url-access=limited}}{{cite news | url=https://www.washingtonpost.com/archive/business/1981/12/21/the-marriott-snack-attack/b24bfbfc-a3d7-453b-b096-e9460b1ffd39/ | title=The Marriott 'Snack Attack' | first=William H. | last=Jones | newspaper=The Washington Post | date=December 21, 1981 | url-access=limited}}

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.{{cite news | url=https://www.nytimes.com/1995/08/10/business/host-marriott-to-separate-concessions-unit-from-hotel-holdings.html | title=Host Marriott to Separate Concessions Unit From Hotel Holdings | work=The New York Times | date=August 10, 1995 | url-access=limited}}{{cite news | url=https://www.washingtonpost.com/archive/business/1993/07/19/marriotts-big-split/1d5353fd-c254-4e39-b24e-006fec29f406/ | title=Marriott's Big Split | work=The Washington Post | date=July 18, 1993 | url-access=limited}} Host Marriott managed lodging and travel concessions at airports and along turnpikes and interstate highways. The concession businesses were further spun off as Host Marriott Services, now HMSHost.

After the company divested its non-hotel business and reorganized as a real estate investment trust in 1998,{{cite news | url=https://www.nytimes.com/1999/01/01/business/reit-plan-finished-host-marriott-says.html | title=REIT Plan Finished, Host Marriott Says | work=The New York Times | date=January 1, 1999 | url-access=limited}} it adopted its current name—Host Hotels & Resorts, Inc.—in 2006.{{cite news | url=https://www.washingtonpost.com/wp-dyn/content/article/2005/11/14/AR2005111400383.html | title=Host Marriott To Buy 38 Hotels | first=Michael S. | last=Rosenwald | newspaper=The Washington Post | date=November 15, 2005}}{{cite news | url=https://www.foxnews.com/story/host-marriott-buys-starwood-hotels-for-4b | title=Host Marriott Buys Starwood Hotels for $4B | agency=Reuters | publisher=Fox News | date=November 14, 2005}}