Portfolio Re-Investment and Growth Opportunities Presentation
COMPANY
OVERVIEW
RECENT
HIGHLIGHTS
PORTFOLIO
UPDATE
GROWTH
OPPORTUNITIES
CORPORATE
RESPONSIBILITY
RECONCILIATIONS &
SUPPLEMENTAL INFO
Schedule of Comparable Hotel Results for Full Year 2024
Forecast (1)
The following table reconciles the Full Year 2024 Forecast GAAP results to Comparable hotel EBITDA result (in millions, except margins):
Operating profit margin (3)
Comparable hotel EBITDA margin (3)
Net income
Depreciation and amortization
Interest expense
Provision for income taxes
Gain on sale of property and corporate level income/expense
Forecast results for Nashville acquisition (1)
Non-comparable hotel results, net (2)
Comparable hotel EBITDA
Low-end of range
Full Year 2024
Mid-point of range
High-end of range
15.4 %
15.7 %
16.1 %
29.3 %
29.6 %
29.8 %
719
$
747
$
775
719
719
719
181
182
183
25
26
27
30
29
28
(29)
(29)
(29)
(77)
(78)
(78)
$
1,568
$
1,596
$
1,625
1.
2.
3.
See "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 2024 Forecasts" for other
forecast assumptions. Forecast comparable hotel results include 75 hotels (of our 77 hotels owned at March 31, 2024) that we have assumed will be classified as comparable as of December 31, 2024. See Key Terms and
Statistics for a discussion of comparable hotel results. No assurances can be made as to the hotels that will be in the comparable hotel set for 2024. As noted in the forecast assumptions above, forecast results for the 1 Hotel
Nashville and Embassy Suites by Hilton Nashville Downtown, acquired in April 2024, are not yet included but are expected to be part of our comparable hotel results for full year.
Non-comparable hotel results, net, includes the following items: (i) the results of operations of our non-comparable hotels, which operations are included in our consolidated statements of operations as continuing
operations, and (ii) gains on business interruption proceeds relating to events that occurred while the hotels were classified as non-comparable. The following hotels are expected to be non-comparable for full year 2024:
The Ritz-Carlton, Naples (business disruption due to Hurricane lan beginning in September 2022, reopened in July 2023);
Alila Ventana Big Sur, (business disruption due to closure of a portion of Highway 1 in California resulting in temporary closure of the hotel beginning at the end of March 2024); and
Sales and marketing expenses related to the development and sale of condominium units on a development parcel adjacent to Four Seasons Resort Orlando at Walt Disney World® Resort.
Profit margins are calculated by dividing the applicable operating profit by the related revenue amount. GAAP profit margins are calculated using amounts presented in the unaudited condensed consolidated statements of
operations. Comparable hotel margins are calculated using amounts presented in the following tables, which include reconciliations to the applicable GAAP results:
2024 Host Hotels & Resorts, Inc.
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