HOST HOTELS & RESORTS Business Summary

Host Hotels & Resorts, Inc. (HST) operates as the world’s largest lodging real estate investment trust (REIT), primarily generating revenue through the ownership and management of luxury and upper-upscale hotel properties. The company’s business model is centered on the "Hotel Ownership" segment, where it derives income from room rentals, food and beverage sales, and ancillary services across a portfolio of approximately 80 iconic properties totaling over 42,000 rooms. While its operations are geographically concentrated in the United States, it maintains a strategic international presence in Canada and Brazil. Host partners with premier hospitality brands including Marriott, Ritz-Carlton, Westin, and Hyatt to manage its assets. In the competitive landscape, Host maintains a dominant market position as the largest publicly traded lodging REIT, outscaling direct peers such as Park Hotels & Resorts Inc. (PK), Ryman Hospitality Properties, Inc. (RHP), DiamondRock Hospitality Company (DRH), and Sunstone Hotel Investors, Inc. (SHO). Originally established in 1993 following the split of the Marriott Corporation, the company is led by President and CEO James F. Risoleo, who joined in 1996 and has served as chief executive since 2017, bringing a background from Interstate Hotels Corporation and Westinghouse Electric. The executive team includes EVP and CFO Sourav Ghosh, formerly of Starwood Hotels & Resorts; EVP and Chief Investment Officer Nathan S. Tyrrell, who previously held roles at the Rouse Company; and EVP and General Counsel Julie P. Aslaksen, a former General Dynamics executive. Technology and digital strategy are overseen by Padmanabh Yardi, Senior Vice President of Information Technology, who joined from Marriott International in 2022. The Board of Directors is chaired by Richard E. Marriott, ensuring a direct link to the company's founding heritage. Host is characterized by high institutional ownership, with major stakeholders including The Vanguard Group, BlackRock, and Cohen & Steers.