Portfolio Re-Investment and Growth Opportunities Presentation
COMPANY
OVERVIEW
RECENT
HIGHLIGHTS
PORTFOLIO
UPDATE
GROWTH
OPPORTUNITIES
CORPORATE
RESPONSIBILITY
RECONCILIATIONS &
SUPPLEMENTAL INFO
2024 Outlook - Adjusted EBITDAre Bridge
The bridge below illustrates the moving pieces between the prior and current 2024E Adjusted EBITDAre
guidance midpoints. Adjusted EBITDAre is expected to grow meaningfully in 2024 driven by Nashville
acquisition EBITDA and an increase in business interruption proceeds.
2024 ADJUSTED EBITDARE (1)
($ in millions)
$2
$1,635
$6
$10
$8
$1,670
$29
Prior 2024E Ritz-Carlton, Naples
Midpoint
Increase
Nashville
Acquisition
Hurricane lan Bl
Increase
Net Comparable
Hotel EBITDA
Alila Ventana
Decrease
Current 2024E
Midpoint
1)
Potential contributions and deductions are estimates only; actual results are expected to vary from these forecasts.
The prior and current midpoints of full year 2024 forecast net income are $751 million and $747 million, respectively. Estimated changes in net income are equal to changes in Adjusted EBITDAre unless noted below.
• Ritz-Carlton, Naples Increase reflects current estimated EBITDA of $62 million, an increase from $60 million initially included in prior guidance. The expected 2024 net income from the Ritz-Carlton, Naples is $7 million.
⚫ Nashville acquisition includes $29 million of EBITDA estimated for our ownership period in 2024. The expected 2024 net income from 1 Hotel Nashville and Embassy Suites by Hilton Nashville Downtown for our ownership period in 2024 is
$17 million.
• Hurricane lan BI Increase includes $8 million of additional business interruption proceeds expected in 2024 related to Hurricane lan.
• Alila Ventana Estimated Contribution reflects a decrease of $(10) million from the prior Alila Ventana Big Sur full year forecast, and it has been removed from our Comparable Hotel set due to closure. The expected 2024 EBITDA from Alila
Ventana Big Sur is $6 million. The expected 2024 net income from Alila Ventana Big Sur is $1 million.
⚫Net Comparable Hotel EBITDA includes a decrease of $(13) million from Comparable Hotel EBITDA and an increase of $20 million at the midpoint of additional business interruption proceeds expected in 2024 related to Maui wildfires ($1
million difference due to rounding).
• The changes to net income also include the following, which are not included in the Adjusted EBITDAre calculation: (i) interest expense $(8) million (ii) depreciation expense $(20) million, (iii) income tax provision $(3) million, and (iv) gain
on property insurance settlement $(8) million.
See Reconciliations & Supplemental Information for reconciliations and items that may affect forecast results, projections, and other estimates. See slide 2 (Forward Looking Statements) for factors that may affect lodging demand.
2024 Host Hotels & Resorts, Inc.
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