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
The following table reconciles the year ended December 31, 2023 and December 31, 2019 GAAP results to Comparable Hotel results using the 2024 Forecast comparable hotel set
(in millions):
2023
2019
Number of hotels
Number of rooms
75
41,451
Operating profit margin (1)
15.6%
Comparable hotel EBITDA margin (1)
30.1%
73
41,063
14.6%
29.5%
Net income
$
752
$
932
Depreciation and amortization
697
676
Interest expense
Provision for income taxes
191
222
36
30
Gain on sale of property and corporate level income/expense
(23)
(283)
Property transaction adjustments
(3)
(96)
Non-comparable hotel results, net
(89)
(53)
Comparable hotel EBITDA
1,561
$
1,428
1.
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:
Year ended December 31, 2023
Year ended December 31, 2019
Adjustments
Adjustments
GAAP Results
Property
transaction
adjustments
Non-comparable
Depreciation and
corporate level
hotel results, net
items
Comparable
hotel Results
GAAP Results
Property
transaction
adjustments
Non-comparable
hotel results, net
Depreciation and
corporate level
items
Comparable
hotel Results
Revenues
Room
$
3,244
$
(5)
$
(62)
$
Food and beverage
1,582
(2)
(37)
Other
485
(12)
Total revenues
Expenses
Room
Food and beverage
Other
Depreciation and amortization
5,311
(7)
(111)
$
3,177
$
3,431
$
(363)
$
(81)
$
$
2,987
1,543
1,647
(95)
(63)
1,489
473
391
(7)
(24)
360
5,193
5,469
(465)
(168)
$
4,836
787
(1)
(14)
772
873
(125)
(17)
731
1,042
(1)
(34)
1,007
1,120
(84)
(46)
990
1,912
(2)
(49)
1,861
1,899
(160)
(52)
1,687
697
(697)
676
(676)
Corporate and other expenses
132
(132)
107
(107)
Gain on insurance settlements
(86)
75
3
(8)
(5)
5
Total expenses
4,484
(4)
(22)
(826)
3,632
4,670
(369)
(115)
(778)
3,408
Operating Profit - Comparable hotel
EBITDA
$
827
$
(3)
$
(89)
$
826
$
1,561
$
799
$
(96)
$
(53)
$
778
$
1,428
A-27
2024 Host Hotels & Resorts, Inc.View entire presentation