BETHESDA, Md., Nov. 04, 2026 (GLOBE NEWSWIRE) -- Host Hotels & Resorts, Inc. (NASDAQ: HST) (the “Company”), the nation’s largest lodging real estate investment trust, today announced that it has acquired the leasehold interest in the 195-room 1 Hotel Brooklyn Bridge (the “1 Hotel”) for $202 million in cash. The property has 83 years remaining on the ground lease with a government nonprofit lessor. The 1 Hotel acquisition price represents a 10.2x EBITDA multiple or a cap rate of approximately 8.2% on the property’s 2026 estimated results¹. The Company has also acquired the fee simple interest in the 308-room Renaissance Dallas at Plano Legacy West Hotel (the “Renaissance Plano”) for approximately $172 million in cash. The Renaissance Plano acquisition price represents an 11.2x EBITDA multiple or a cap rate of approximately 7.9% on the property’s 2026 estimated results¹.

The 1 Hotel is expected to be among Host’s top 10 assets based on estimated full year 2026 results, with expected Total RevPAR of $1,130, RevPAR of $615, and EBITDA per key of approximately $100,000². Renaissance Plano is expected to be among Host’s top 25 assets on a Total RevPAR and EBITDA per key basis based on estimated full year 2026 results, with expected Total RevPAR of $380, RevPAR of $200, and EBITDA per key of approximately $50,000.² Together, these acquisitions further diversify and improve the quality of the Company’s portfolio.

The acquisitions are expected to be immediately accretive to earnings and to contribute $6 million of EBITDA during the Company’s 2026 ownership period. The net increase in Adjusted EBITDAre from the cash invested is expected to be approximately $4 million more than the previously expected interest income.³

James F. Risoleo, President and Chief Executive Officer, said, “We are pleased to add two high-quality, market-leading properties to our portfolio at attractive valuations. The acquisition of 1 Hotel Brooklyn Bridge expands our New York luxury presence into a new submarket with significant barriers to entry while further strengthening our relationship with the 1 Hotel brand. Similarly, the acquisition of Renaissance Plano establishes Host’s presence in the high-growth Dallas/Fort Worth market through a uniquely positioned asset that benefits from strong corporate and group demand. Together, these acquisitions enhance our portfolio’s quality, performance and geographic diversification, underscoring our disciplined capital allocation approach and commitment to delivering attractive returns and long-term shareholder value creation.”

The 1 Hotel Brooklyn Bridge was the first new build for 1 Hotels, and it sits on an irreplaceable site on the East River, along the riverfront park, and adjacent to the Brooklyn Bridge. Opened in 2017, this LEED Gold-certified urban retreat features 29 suites, 12,000 square feet of meeting space, several food and beverage outlets, a Bamford Wellness Spa with ten treatment rooms, underground parking, a fitness center, and a rooftop pool. The ground floor is also home to Barbuto Brooklyn, a new location of the restaurant concept from James Beard Award-winning chef Jonathan Waxman. Located in the DUMBO submarket, the 1 Hotel is Brooklyn’s only branded luxury hotel and is centrally positioned near the borough’s key demand generators, with convenient access to Manhattan by car, train, and ferry.

Located in Dallas’s rapidly growing Plano/Frisco submarket, the Renaissance Plano features 16 suites, 35,000 square feet of meeting space, several food and beverage outlets, an outdoor pool, a fitness center, and an attached parking garage. The Plano/Frisco area has been a major beneficiary of recent corporate relocations and is now home to more than 75 Forbes Global 2000 companies. The submarket is expected to continue to benefit from future corporate relocations and arena entertainment district developments. The hotel is strategically situated within Legacy West, a premier 240-acre mixed-use development anchored by major corporate tenants and featuring Class A office space, luxury residences, and high-end retail. As the only hotel within Legacy West, the Renaissance Plano benefits from a strong base of business transient and corporate group demand. Its extensive meeting facilities and proximity to luxury retail also position the hotel as a leading destination for social groups, including weddings.

ABOUT HOST HOTELS & RESORTS

Host Hotels & Resorts, Inc. is an S&P 500 company and is the largest lodging real estate investment trust and one of the largest owners of luxury and upper-upscale hotels. The Company currently owns 72 properties in the United States and five properties internationally totaling approximately 41,800 rooms. The Company also holds non-controlling interests in seven domestic joint ventures.

FORWARD LOOKING STATEMENTS

Note: This press release contains forward-looking statements within the meaning of federal securities regulations. These forward-looking statements are identified by their use of terms and phrases such as “anticipate,” “believe,” “could,” “estimate,” “expect,” “intend,” “may,” “should,” “plan,” “predict,” “project,” “will,” “continue” and other similar terms and phrases, including references to assumptions and forecasts of future results. Forward-looking statements are not guarantees of future performance and involve known and unknown risks, uncertainties and other factors which may cause the actual results to differ materially from those anticipated at the time the forward-looking statements are made. These risks include, but are not limited to: general economic uncertainty in the Brooklyn and Dallas/Fort Worth markets and the possibility that future growth in these markets will not meet current expectations or the stabilized results we expect to achieve; other factors such as natural disasters and weather that will affect occupancy rates at the property and the demand for hotel products and services; the impact of economic and geopolitical developments on lodging demand and the Brooklyn and Dallas/Fort Worth markets in particular; operating risks associated with the hotel business; risks that hotel supply in these markets will increase greater than expected or will have a larger impact on occupancy at the properties than currently forecasted; our ability to maintain our properties in a first-class manner, including meeting capital expenditure requirements; the effects of hotel renovations on our hotel occupancy and financial results; our ability to compete effectively in areas such as access, location, quality of accommodations and room rate structures; risks that the acquisitions of the properties and any new developments at the properties may not perform in accordance with our expectations; and other risks and uncertainties associated with our business described in the Company’s annual report on Form 10-K, quarterly reports on Form 10-Q and current reports on Form 8-K filed with the SEC. Although the Company believes the expectations reflected in such forward-looking statements are based upon reasonable assumptions, it can give no assurance that the expectations will be attained or that any deviation will not be material. All information in this release is as of the date of this release and the Company undertakes no obligation to update any forward-looking statement to conform the statement to actual results or changes in the Company’s expectations.

¹  Consistent with industry practice, Host calculates the EBITDA multiple as the ratio of the purchase price to the property’s EBITDA and the capitalization rate as the ratio of property’s net operating income to its purchase price. EBITDA and net operating income are non-GAAP measures. The comparable GAAP metric to EBITDA multiple is the ratio of the purchase price to net income. For the 1 Hotel, purchase price is net of the $4 million furniture, fixtures and equipment ("FF&E") reserve and the ratio of the purchase price to 2026 net income is 20x based on expected net income of $10 million. The comparable GAAP metric to capitalization rate utilizing 2026 estimated net income is the ratio of net income to the purchase price, which is 5.0%. The difference between estimated 2026 net income and EBITDA is depreciation expense of $10 million. The difference between EBITDA and net operating income is $3 million for the estimated annual contractual reserve requirements for renewal and replacement expenditures for 2026. For the Renaissance Plano, the ratio of the purchase price to 2026 net income is 18x and the ratio of net income to purchase price is 5.7%, in each case based on expected net income of $10 million. The difference between estimated 2026 net income and EBITDA is depreciation expense of $5 million. The difference between EBITDA and net operating income is $2 million for the estimated annual contractual reserve requirements for renewal and replacement expenditures for 2026.

²  The comparable GAAP metric to EBITDA per key is net income per key. For the 1 Hotel, net income per key is $52,000 based on 2026 forecast net income of $10 million. For Renaissance Plano, net income per key is $31,500 based on 2026 forecast net income of $10 million.

³  The comparable GAAP metric to the expected EBITDA contribution for the 2026 ownership period is expected net income of $3 million. The difference between estimated 2026 net income contribution and EBITDA is depreciation expense of $3 million. The net increase of net income over expected interest income is $1 million.

Source: Host Hotels & Resorts, L.P.