Portfolio Re-Investment and Growth Opportunities Presentation
COMPANY
OVERVIEW
RECENT
HIGHLIGHTS
PORTFOLIO
UPDATE
GROWTH
OPPORTUNITIES
CORPORATE
RESPONSIBILITY
Reconciliation of Net Income to EBITDA, EBITDAre and
Adjusted EBITDAre and Diluted Earnings per Common
Share to NAREIT and Adjusted Funds From Operations.
per Diluted Share for Full Year 2024 Forecast
The following table reconciles the Full Year 2024 Forecast net income to EBITDA, EBITDAre and Adjusted EBITDAre (in millions):
Net income
Interest expense
Depreciation and amortization
Income taxes
EBITDA
Equity investment adjustments:
Equity in earnings of affiliates
Pro rata EBITDAre of equity investments
EBITDAre
Adjustments to EBITDAre:
Gain on property insurance settlement
Adjusted EBITDAre
RECONCILIATIONS &
SUPPLEMENTAL INFO
Low-end of range
Full Year 2024
Mid-point of range
High-end of range
$
719
$
747
$
775
181
182
183
719
719
719
25
26
27
1,644
1,674
1,704
(14)
(14)
42
42
(15)
43
1,672
1,702
1,732
(32)
(32)
(32)
$
1,640
$
1,670
$
1,700
The Forecasts are based on the below assumptions:
:
Comparable hotel RevPAR will increase 2.0% to 4.0% compared to 2023 for the low and high end of the forecast range. Comparable hotel metrics do not yet include the results of 1
Hotel Nashville and Embassy Suites by Hilton Nashville Downtown, which were acquired in April 2024. We expect to include the comparable hotel results for these two hotels
beginning in the second quarter.
Comparable hotel EBITDA margins will decrease 80 basis points to 30 basis points compared to 2023 for the low and high ends of the forecasted comparable hotel RevPAR range,
respectively.
We expect to spend approximately $500 million to $605 million on capital expenditures.
Includes $17 million of net income and $29 million of EBITDA from the 1 Hotel Nashville and Embassy Suites by Hilton Nashville Downtown, acquired in April 2024. Assumes no
additional acquisitions and no dispositions during the year.
Assumes a total of $38 million of gains from business interruption proceeds expected to be received in 2024 related to Hurricane lan and related to the Maui wildfire disruption. No
further business interruption gains are expected. Also includes $32 million of insurance proceeds from Hurricane lan received through May 1, 2024 that result in a gain on property
insurance settlement. No further property insurance gains have been included related to Hurricane lan. We have collected $263 million out of a potential $310 million insurance
recovery related to Hurricane lan under our policy and we continue to work with our insurers to recover the remaining amount, although there can be no assurances that we will be
able to achieve this result.
2024 Host Hotels & Resorts, Inc.
A-23View entire presentation