View Filing Data

HOST HOTELS & RESORTS, INC.

$ 11,635

$ 10,514

ASSETS

11,635

10,514

178

148

172

152

331

354

634

1,113

LIABILITIES, NON-CONTROLLING INTERESTS AND EQUITY

13,103

12,411

Senior notes, including $1,170 million and $1,156 million, respectively, net of discount, of Exchangeable Senior Debentures

4,510

4,249

Credit facility

162

Mortgage debt

1,068

1,025

148

145

Total debt

5,888

5,477

178

208

209

203

Non-controlling interests - Host Hotels & Resorts, L.P.

6,275

5,888

174

191

Host Hotels & Resorts Inc. stockholders' equity:

Common stock, par value $.01, 1,050 million shares authorized; 693.7 million shares and 675.6 million shares issued and outstanding, respectively

Additional paid-in capital

7,566

7,236

Total equity of Host Hotels & Resorts, Inc. stockholders

Deficit

(999)

(965)

6,614

6,303

Non-controlling interests-other consolidated partnerships

Total equity

6,654

6,332

Total liabilities, non-controlling interests and equity

13,103

12,411

Debt

178

208

209

203

Host Hotels & Resorts, L.P. capital:

6,275

5,888

Total liabilities, non-controlling interests and equity

13,103

12,411

ASSETS

11,635

10,514

178

148

172

152

330

353

634

1,113

LIABILITIES, NON-CONTROLLING INTERESTS AND EQUITY

13,102

12,410

Senior notes, including $1,170 million and $1,156 million, respectively, net of discount, of Exchangeable Senior Debentures

4,510

4,249

Credit facility

162

Mortgage debt

1,068

1,025

148

145

Total debt

5,888

5,477

178

208

209

203

Non-controlling interests - Host Hotels & Resorts, L.P.

6,275

5,888

^[1]

174

191

Host Hotels & Resorts Inc. stockholders' equity:

Total liabilities, non-controlling interests and equity

13,102

12,410

Debt

178

208

209

203

Limited partnership interests of third parties

6,275

5,888

174

191

Host Hotels & Resorts, L.P. capital:

General partner

Limited partner

6,572

6,276

Total Host Hotels & Resorts, L.P. capital

6,613

6,302

Non-controlling interests-consolidated partnerships

Total capital

6,653

6,331

Total liabilities, non-controlling interests and equity

$ 13,102

$ 12,410

[1]	The book value recorded is equal to the greater of the redemption value or the historical cost.

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) shares in Millions, $ in Millions	Jun. 17, 2011	Dec. 31, 2010
HOST HOTELS & RESORTS, INC.
Senior notes	$ 4,510	$ 4,249
Common stock, par value	$ 0.01	$ 0.01
Common stock, shares authorized	1,050.0	1,050.0
Common stock, shares issued	693.7	675.6
Common stock, shares outstanding	693.7	675.6
HOST HOTELS & RESORTS, INC. \| Exchangeable Debentures
Senior notes	$ 1,170	$ 1,156
HOST HOTELS & RESORTS L.P.
Senior notes	4,510	4,249
HOST HOTELS & RESORTS L.P. \| Exchangeable Debentures
Senior notes	$ 1,170	$ 1,156

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
$ in Millions

3 Months Ended

6 Months Ended

Jun. 17, 2011

USD ($)

$ / shares

$ / PartnershipUnit

Jun. 18, 2010

USD ($)

$ / shares

$ / PartnershipUnit

Jun. 17, 2011

USD ($)

$ / shares

$ / PartnershipUnit

Jun. 18, 2010

USD ($)

$ / shares

$ / PartnershipUnit

REVENUES

Total revenues

$ 1,296

$ 1,112

$ 2,198

$ 1,934

HOST HOTELS & RESORTS, INC.

REVENUES

780

671

1,302

1,154

380

342

650

595

Total revenues for owned hotels

129

128

1,235

1,085

2,081

1,877

Other revenues

117

Total revenues

1,296

1,112

2,198

1,934

EXPENSES

206

178

356

318

Other departmental and support expenses

268

240

469

427

309

278

547

500

Management fees

Other property-level expenses

137

254

181

Depreciation and amortization

149

139

290

275

Corporate and other expenses

Total operating costs and expenses

1,144

1,002

2,048

1,825

OPERATING PROFIT

152

110

150

109

Interest income

Interest expense

(89)

(82)

(171)

(179)

Net gains on property transactions and other

Gain (loss) on foreign currency transactions and derivatives

(3)

(5)

Equity in earnings (losses) of affiliates

(5)

Income (loss) before income taxes

(5)

(78)

Benefit (provision) for income taxes

(8)

(6)

INCOME (LOSS) FROM CONTINUING OPERATIONS

(62)

Loss from discontinued operations, net of tax

(3)

(4)

(2)

NET INCOME (LOSS)

(64)

Less: Net income attributable to non- controlling interests

(2)

(1)

(2)

(1)

NET INCOME (LOSS) ATTRIBUTABLE TO THE REPORTING ENTITY

(65)

Dividends on preferred stock

(2)

(4)

Issuance costs of redeemed preferred OP units

(4)

Earnings (loss) available to common stockholders

$ 62

$ 13

$ 2

$ (73)

Basic earnings (loss) per common share:

Continuing operations | $ / shares

$ 0.10

$ 0.02

$ 0.01

$ (0.11)

Discontinued operations | $ / shares

(0.01)

Basic earnings (loss) per common share | $ / shares

0.09

0.02

(0.11)

Diluted earnings (loss) per common share:

Continuing operations | $ / shares

0.10

0.02

0.01

(0.11)

Discontinued operations | $ / shares

(0.01)

$ (0.01)

Diluted earnings (loss) per common share | $ / shares

$ 0.09

$ 0.02

$ (0.11)

REVENUES

$ 780

$ 671

$ 1,302

$ 1,154

380

342

650

595

Total revenues for owned hotels

129

128

1,235

1,085

2,081

1,877

Other revenues

117

Total revenues

1,296

1,112

2,198

1,934

EXPENSES

206

178

356

318

Other departmental and support expenses

268

240

469

427

309

278

547

500

Management fees

Other property-level expenses

137

254

181

Depreciation and amortization

149

139

290

275

Corporate and other expenses

Total operating costs and expenses

1,144

1,002

2,048

1,825

OPERATING PROFIT

152

110

150

109

Interest income

Interest expense

(89)

(82)

(171)

(179)

Net gains on property transactions and other

Gain (loss) on foreign currency transactions and derivatives

(3)

(5)

Equity in earnings (losses) of affiliates

(5)

Income (loss) before income taxes

(5)

(78)

Benefit (provision) for income taxes

(8)

(6)

INCOME (LOSS) FROM CONTINUING OPERATIONS

(62)

Loss from discontinued operations, net of tax

(3)

(4)

(2)

NET INCOME (LOSS)

(64)

Less: Net income attributable to non- controlling interests

(1)

(2)

NET INCOME (LOSS) ATTRIBUTABLE TO THE REPORTING ENTITY

(66)

Issuance costs of redeemed preferred OP units

^[1]

(4)

Diluted earnings (loss) per common share:

Distributions on preferred units

(2)

(4)

Earnings (loss) available to common unitholders

$ 63

$ 13

$ 2

$ (74)

Basic earnings (loss) per common unit:

Continuing operations | $ / PartnershipUnit

0.10

0.02

0.01

(0.11)

Discontinued operations | $ / PartnershipUnit

(0.01)

Basic earnings (loss) per common unit | $ / PartnershipUnit

0.09

0.02

(0.11)

Diluted earnings (loss) per common unit:

Continuing operations | $ / PartnershipUnit

0.10

0.02

0.01

(0.11)

Discontinued operations | $ / PartnershipUnit

(0.01)

Diluted earnings (loss) per common unit | $ / PartnershipUnit

0.09

0.02

(0.11)

[1]	Represents the original issuance costs associated with the Class E preferred OP units, which were redeemed during the second quarter 2010.

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Millions	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 17, 2011	Jun. 18, 2010	Jun. 17, 2011	Jun. 18, 2010	Dec. 31, 2010
INVESTING ACTIVITIES
Proceeds from sales of assets, net					$ 12
HOST HOTELS & RESORTS, INC.
OPERATING ACTIVITIES
Net income (loss)	$ 64	$ 20	$ 4	$ (64)
Discontinued operations:
Loss on dispositions				1
Depreciation			3
Depreciation and amortization	149	139	290	275
Amortization of deferred financing costs			5	6
Amortization of debt premiums/discounts, net			9	16
Deferred income taxes			(15)	(17)
Net gain on property transactions and other			(3)
(Gain) loss on foreign currency transactions and derivatives	(1)	3	(2)	5
Non-cash loss on extinguishment of debt			1	2
Equity in (earnings) losses of affiliates, net	(4)		(2)	5
Distributions from equity investments				2
Change in due from managers			(27)	(25)
Changes in other assets			12	34
Changes in other liabilities			(19)	(21)
Cash provided by operations			256	219
INVESTING ACTIVITIES
Proceeds from sales of assets, net				12
Acquisitions			(1,035)
Purchase of mortgage note on a portfolio of hotels				(53)
Investment in affiliates			(18)
Capital expenditures:
Renewals and replacements			(119)	(67)
Repositionings and other investments			(121)	(33)
Change in furniture, fixtures and equipment ("FF&E") replacement fund			1	(22)
Change in FF&E replacement funds designated as restricted cash				5
Property insurance proceeds			2
Cash used in investing activities			(1,290)	(158)
FINANCING ACTIVITIES
Financing costs			(8)
Issuances of debt			576
Draw on credit facility			153
Repayment on credit facility			(50)
Repayments/redemption of senior notes, including exchangeable debentures			(250)	(346)
Mortgage debt prepayments and scheduled maturities			(132)	(124)
Scheduled principal repayments			(2)	(5)
Common stock issuance			288	55
Redemption of preferred stock				(101)
Dividends on common stock			(21)	(7)
Dividends on preferred stock				(6)
Distributions to non-controlling interests			(4)	(3)
Change in restricted cash for financing activities			5	5
Cash provided by (used in) financing activities			555	(532)
DECREASE IN CASH AND CASH EQUIVALENTS			(479)	(471)
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD			1,113	1,642	1,642
CASH AND CASH EQUIVALENTS, END OF PERIOD	634	1,171	634	1,171	1,113
Supplemental disclosure of cash flow information
Interest paid			144	163
Income taxes paid			4	3
HOST HOTELS & RESORTS L.P.
OPERATING ACTIVITIES
Net income (loss)	64	20	4	(64)
Discontinued operations:
Loss on dispositions				1
Depreciation			3
Depreciation and amortization	149	139	290	275
Amortization of deferred financing costs			5	6
Amortization of debt premiums/discounts, net			9	16
Deferred income taxes			(15)	(17)
Net gain on property transactions and other			(3)
(Gain) loss on foreign currency transactions and derivatives	(1)	3	(2)	5
Non-cash loss on extinguishment of debt			1	2
Equity in (earnings) losses of affiliates, net	(4)		(2)	5
Distributions from equity investments				2
Change in due from managers			(27)	(25)
Changes in other assets			12	34
Changes in other liabilities			(19)	(21)
Cash provided by operations			256	219
INVESTING ACTIVITIES
Proceeds from sales of assets, net				12
Acquisitions			(1,035)
Purchase of mortgage note on a portfolio of hotels				(53)
Investment in affiliates			(18)
Capital expenditures:
Renewals and replacements			(119)	(67)
Repositionings and other investments			(121)	(33)
Change in furniture, fixtures and equipment ("FF&E") replacement fund			1	(22)
Change in FF&E replacement funds designated as restricted cash				5
Property insurance proceeds			2
Cash used in investing activities			(1,290)	(158)
FINANCING ACTIVITIES
Financing costs			(8)
Issuances of debt			576
Draw on credit facility			153
Repayment on credit facility			(50)
Repayments/redemption of senior notes, including exchangeable debentures			(250)	(346)
Mortgage debt prepayments and scheduled maturities			(132)	(124)
Scheduled principal repayments			(2)	(5)
Distributions to non-controlling interests			(4)	(3)
Change in restricted cash for financing activities			5	5
Cash provided by (used in) financing activities			555	(532)
Common OP unit issuance			288	55
Redemption of preferred OP units				(101)
Distributions on common OP units			(21)	(7)
Distributions on preferred OP units				(6)
DECREASE IN CASH AND CASH EQUIVALENTS			(479)	(471)
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD			1,113	1,642	1,642
CASH AND CASH EQUIVALENTS, END OF PERIOD	$ 634	$ 1,171	634	1,171	$ 1,113
Supplemental disclosure of cash flow information
Interest paid			144	163
Income taxes paid			$ 4	$ 3

Supplemental disclosure of noncash investing and financing activities:	6 Months Ended
	Jun. 17, 2011
HOST HOTELS & RESORTS, INC.
Supplemental disclosure of noncash investing and financing activities:	Supplemental disclosure of noncash investing and financing activities: For the year-to-date periods ended June 17, 2011 and June 18, 2010, Host Inc. issued approximately 0.2 million shares and 1.0 million shares, respectively, upon the conversion of operating partnership units (“OP units”) of Host Hotels & Resorts, L.P. (“Host L.P.”) held by non-controlling partners valued at approximately $4 million and $12 million, respectively. On March 17, 2011, we acquired the 1,625-room Manchester Grand Hyatt San Diego, and certain related rights. In connection with the acquisition, Host L.P. issued approximately 0.3 million common OP units valued at $18.741 per unit, or approximately $6 million. On April 29, 2011, we acquired a 75% controlling interest in the 364-room Hilton Melbourne South Wharf. In connection with the acquisition, we assumed AUD 80 million ($86 million) of mortgage debt and recorded the mortgage debt at its fair value at the acquisition date, which reflected a premium of $0.5 million. See Note 11 – “Acquisitions” for further discussion.
HOST HOTELS & RESORTS L.P.
Supplemental disclosure of noncash investing and financing activities:	Supplemental disclosure of noncash investing and financing activities: For the year-to-date periods ended June 17, 2011 and June 18, 2010, limited partners converted operating partnership units (“OP units”) valued at approximately $4 million and $12 million, respectively, in exchange for approximately 0.2 million and 1.0 million shares, respectively, of Host Hotels & Resorts, Inc. common stock. On March 17, 2011, we acquired the 1,625-room Manchester Grand Hyatt San Diego, and certain related rights. In connection with the acquisition, Host Hotels & Resorts, L.P. issued approximately 0.3 million common OP units valued at $18.741 per unit, or approximately $6 million. On April 29, 2011, we acquired a 75% controlling interest in the 364-room Hilton Melbourne South Wharf. In connection with the acquisition, we assumed AUD 80 million ($86 million) of mortgage debt and recorded the mortgage debt at its fair value at the acquisition date, which reflected a premium of $0.5 million. See Note 11 – “Acquisitions” for further discussion.

Organization

6 Months Ended

Jun. 17, 2011

Organization

1.	Organization

Description of Business

Host Hotels & Resorts Inc. operates as a self-managed and self-administered real estate investment trust (“REIT”) with its operations conducted solely through Host Hotels & Resorts L.P. and its subsidiaries. Host Hotels & Resorts, L.P., a Delaware limited partnership, operates through an umbrella partnership structure, with Host Hotels & Resorts, Inc., a Maryland corporation, as its sole general partner. In the notes to the condensed consolidated financial statements, we use the terms “we” or “our” to refer to Host Hotels & Resorts, Inc. and Host Hotels & Resorts, L.P. together, unless the context indicates otherwise. We also use the term “Host Inc.” to specifically refer to Host Hotels & Resorts, Inc. and the term “Host L.P.” to specifically refer to Host Hotels & Resorts, L.P. in cases where it is important to distinguish between Host Inc. and Host L.P. Host Inc. holds approximately 98.5% of Host L.P.’s OP units.

As of June 17, 2011, we owned, or had controlling interests in, 106 lodging properties located throughout the United States, as well as 17 international properties located in Australia, Brazil, Chile, Canada, Mexico, New Zealand and the United Kingdom, all operated under some of the leading brands in the lodging industry.

The entire disclosure for organization, consolidation and basis of presentation of financial statements disclosure.

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher AICPA
-Name Accounting Research Bulletin (ARB)
-Number 51
-Paragraph 2-6
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Name Statement of Position (SOP)
-Publisher AICPA
-Number 94-6
-Paragraph 10
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

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-Number 46R
-Paragraph 4, 14, 15
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Summary of Significant Accounting Policies

Summary of Significant Accounting Policies

6 Months Ended

Jun. 17, 2011

2.	Summary of Significant Accounting Policies

We have condensed or omitted certain information and footnote disclosures normally included in financial statements presented in accordance with U.S. generally accepted accounting principles (“GAAP”) in the accompanying unaudited condensed consolidated financial statements. We believe the disclosures made are adequate to prevent the information presented from being misleading. However, the unaudited condensed consolidated financial statements should be read in conjunction with the consolidated financial statements and notes thereto included in our Annual Report on Form 10–K for the year ended December 31, 2010.

The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.

In our opinion, the accompanying unaudited condensed consolidated financial statements reflect all adjustments necessary to present fairly our financial position as of June 17, 2011 and the results of our operations for the quarterly and year-to-date periods ended June 17, 2011 and June 18, 2010 and cash flows for the year-to-date periods ended June 17, 2011 and June 18, 2010. Interim results are not necessarily indicative of full year performance because of the impact of seasonal and short-term variations.

Earnings (Loss) Per Common Share (Unit)

6 Months Ended

Jun. 17, 2011

Earnings (Loss) Per Common Share (Unit)

3.	Earnings (Loss) Per Common Share (Unit)

Host Inc. Earnings (Loss) per Common Share

Basic earnings (loss) per common share is computed by dividing net income (loss) available to common stockholders by the weighted average number of shares of Host Inc. common stock outstanding. Diluted earnings (loss) per common share is computed by dividing net income (loss) available to common stockholders as adjusted for potentially dilutive securities, by the weighted average number of shares of Host Inc. common stock outstanding plus other potentially dilutive securities. Dilutive securities may include shares granted under comprehensive stock plans, other non-controlling interests that have the option to convert their limited partnership interests to common OP units and convertible debt securities. No effect is shown for any securities that are anti-dilutive.


	Quarter ended						Year-to-date ended
	June 17, 2011			June 18, 2010			June 17, 2011			June 18, 2010
	(in millions, except per share amounts)

Net income (loss)	$	64		$	20		$	4		$	(64	)
Net income attributable to non-controlling interests		(2	)		(1	)		(2	)		(1	)
Dividends on preferred stock		—			(2	)		—			(4	)
Issuance costs of redeemed preferred stock (a)		—			(4	)		—			(4	)

Earnings (loss) available to common stockholders		62			13			2			(73	)

Diluted earnings (loss) available to common stockholders	$	62		$	13		$	2		$	(73	)


Basic weighted average shares outstanding		685.7			652.5			681.5			650.3
Diluted weighted average shares outstanding (b)		687.1			654.1			683.0			650.3

Basic earnings (loss) per share	$	.09		$	.02		$	—		$	(.11	)
Diluted earnings (loss) per share	$	.09		$	.02		$	—		$	(.11	)

(a)	Represents the original issuance costs associated with the Class E preferred stock, which were redeemed during the second quarter 2010.

(b)	For all periods presented, there were approximately 50 million potentially dilutive shares related to our Exchangeable Senior Debentures, which were not included in the computation of diluted earnings per share because to do so would have been anti-dilutive for the period.

Host L.P. Earnings (Loss) Per Common Unit

Basic earnings (loss) per common unit is computed by dividing net income available to common unitholders by the weighted average number of common units outstanding. Diluted earnings (loss) per common unit is computed by dividing net income (loss) available to common unitholders as adjusted for potentially dilutive securities, by the weighted average number of common units outstanding plus other potentially dilutive securities. Dilutive securities may include units distributed to Host Inc. to support Host Inc. common shares granted under comprehensive stock plans, other non-controlling interests that have the option to convert their limited partnership interests to common OP units and convertible debt securities. No effect is shown for any securities that are anti-dilutive.


	Quarter ended						Year-to-date ended
	June 17, 2011			June 18, 2010			June 17, 2011			June 18, 2010
	(in millions, except per unit amounts)

Net income (loss)	$	64		$	20		$	4		$	(64	)
Net income attributable to non-controlling interests		(1	)		(1	)		(2	)		(2	)
Distributions on preferred units		—			(2	)		—			(4	)
Issuance costs of redeemed preferred OP units (a)		—			(4	)		—			(4	)

Earnings (loss) available to common unitholders		63			13			2			(74	)

Diluted earnings (loss) available to common unitholders	$	63		$	13		$	2		$	(74	)


Basic weighted average units outstanding		682.0			649.5			677.8			647.5
Diluted weighted average units outstanding (b)		683.3			651.1			679.2			647.5

Basic earnings (loss) per unit	$	.09		$	.02		$	—		$	(.11	)
Diluted earnings (loss) per unit	$	.09		$	.02		$	—		$	(.11	)

(a)	Represents the original issuance costs associated with the Class E preferred OP units, which were redeemed during the second quarter 2010.

(b)	For all periods presented, there were approximately 49 million potentially dilutive units related to our Exchangeable Senior Debentures, which were not included in the computation of diluted earnings per unit because to do so would have been anti-dilutive for the period.

Property and Equipment

6 Months Ended

Jun. 17, 2011

Property and Equipment

4.	Property and Equipment

Property and equipment consists of the following as of (in millions):


	June 17, 2011			December 31, 2010
Land and land improvements	$	1,842		$	1,669
Buildings and leasehold improvements		13,240			12,080
Furniture and equipment		2,000			1,895
Construction in progress		125			168

		17,207			15,812
Less accumulated depreciation and amortization		(5,572	)		(5,298	)

	$	11,635		$	10,514

The entire disclosure for long-lived, physical assets that are used in the normal conduct of business to produce goods and services and not intended for resale. Examples include land, buildings, machinery and equipment, and other types of furniture and equipment including, but not limited to, office equipment, furniture and fixtures, and computer equipment and software. This disclosure may include property plant and equipment accounting policies and methodology, a schedule of property, plant and equipment gross, additions, deletions, transfers and other changes, depreciation, depletion and amortization expense, net, accumulated depreciation, depletion and amortization expense and useful lives, income statement disclosures, assets held for sale and public utility disclosures.

Investment in Affiliates

6 Months Ended

Jun. 17, 2011

Investment in Affiliates

5.	Investment in Affiliates

European Joint Venture. On June 27, 2011, the expansion of the European Joint Venture (Euro JV) was completed through the creation of a new fund (the “Euro JV Fund II”) in which each of the current partners in the Euro JV holds a 33.3% limited partner interest and we hold the remaining 0.1% general partner interest. The Euro JV Fund II has a target size of approximately €450 million of new equity and a target investment of approximately €1 billion, after taking into account anticipated debt. As part of the expansion, on June 28, 2011, we also transferred the Le Méridien Piccadilly to the Euro JV Fund II at a price of £64 million ($102 million), including the assumption of the associated £32 million ($52 million) mortgage. Proceeds received from our partners for the contribution of the Le Méridien Piccadilly was used to repay £25 million ($41 million) under our credit facility. In addition to the expansion of the capacity of the Euro JV, we have extended its term from 2016 to 2021, subject to two one-year extensions.

On July 6, 2011, our Euro JV Fund II reached an agreement to acquire the 396-room Pullman Bercy, Paris, for approximately €96 million. The joint venture has agreed to invest an additional €9 million to renovate the rooms and public space at the hotel. The transaction is subject to a waiver by the City of Paris of its right to purchase the hotel and is expected to close in September 2011.

Debt

6 Months Ended

Jun. 17, 2011

Debt

Senior Notes. On May 11 and May 25, 2011, we issued $425 million and $75 million, respectively, of 5⁷/8% Series W senior notes due June 15, 2019. We received proceeds from these issuances of approximately $489 million, net of discounts, underwriting fees and expenses. Interest on the Series W senior notes is payable semi-annually in arrears on June 15 and December 15, beginning December 15, 2011. The proceeds were used to repay $50 million drawn on our credit facility in connection with the acquisition of the Hilton Melbourne South Wharf, as discussed below, and to redeem the remaining $250 million of the 7¹/8% Series K senior notes due November 2013, plus a $3 million premium on the redemption. The remaining proceeds will be used for general corporate purposes.

On May 27, 2011, we gave notice of our intent to redeem $150 million of the outstanding $325 million 3.25% Exchangeable Senior Debentures. Subsequent to the end of the second quarter, holders of approximately $134 million of the 3.25% Exchangeable Debentures elected to exchange their debentures for shares of Host Inc. common stock totaling approximately 8.8 million shares, rather than receive the cash redemption proceeds, while the remaining $16 million of debentures were redeemed for cash.

Mortgage Debt. On April 29, 2011, we assumed AUD 80 million ($86 million) of mortgage debt in connection with the acquisition of the Hilton Melbourne South Wharf, Australia. We pay a floating interest rate equal to the quoted average bid rate on Reuters BBSY plus a 3.25% margin. At acquisition, we recorded the loan at fair value, which reflected a premium of $0.5 million. We also assumed the associated interest rate swap derivative, which fixes the Reuters BBSY rate at 7.52%. At acquisition, the swap did not qualify for hedge accounting; therefore, changes in the fair value of the derivative will be reflected in the consolidated statements of operations throughout the life of the swap. At acquisition, the swap’s fair value was a liability of AUD 1.8 million ($1.9 million). The swap agreement will expire on March 19, 2012. The loan matures on February 28, 2012.

Credit Facility. On April 26, 2011, to facilitate the acquisition of the Hilton Melbourne South Wharf, we drew $50 million on our credit facility, which was subsequently repaid on May 12, 2011. We have $438 million of remaining available capacity under our credit facility as of June 17, 2011.

Subsequent to quarter end, the contribution of the Le Méridien Piccadilly to the Euro JV Fund II and the $41 million repayment of the credit facility with proceeds therefrom, as well as the exchange or redemption of $150 million of our 3.25% Exchangeable Senior Debentures, decreased our total debt outstanding by $304 million to approximately $5.6 billion and increased the availability under our credit facility to $479 million.

The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants.

Equity of Host Inc. and Capital of Host L.P.

Equity of Host Inc. and Capital of Host L.P.

6 Months Ended

Jun. 17, 2011

7.	Equity of Host Inc. and Capital of Host L.P.

Equity of Host Inc.

Equity is allocated between controlling and non-controlling interests as follows (in millions):


	Host Hotels & Resorts, Inc.			Non-redeemable non-controlling interests			Total equity			Redeemable non-controlling interests
Balance, December 31, 2010	$	6,303		$	29		$	6,332		$	191
Net income		2			2			4			—
Issuance of common stock		288			—			288			—
Other changes in ownership		6			9			15			(17	)
Other comprehensive income (note 9)		15			—			15			—

Balance, June 17, 2011	$	6,614		$	40		$	6,654		$	174


	Host Hotels & Resorts, Inc.			Non-redeemable non-controlling interests			Total equity			Redeemable non-controlling interests
Balance, December 31, 2009	$	6,189		$	22		$	6,211		$	139
Net income (loss)		(65	)		2			(63	)		(1	)
Issuance of common stock		55			—			55			—
Redemption of preferred stock		(101	)		—			(101	)		—
Other changes in ownership		(39	)		(3	)		(42	)		31
Other comprehensive loss(note 9)		(10	)		—			(10	)		—

Balance, June 18, 2010	$	6,029		$	21		$	6,050		$	169

Capital of Host L.P.

As of June 17, 2011, Host Inc. is the owner of approximately 98.5% of Host L.P.’s common OP units. The remaining 1.5% of the common OP units are held by third party limited partners. Each OP unit may be redeemed for cash or, at the election of Host Inc., Host Inc. common stock, based on the conversion ratio of 1.021494 shares of Host Inc. common stock for each OP unit.

In exchange for any shares issued by Host Inc., Host L.P. will issue OP units to Host Inc. based on the applicable conversion ratio. Additionally, funds used by Host Inc. to pay dividends on its common stock are provided by distributions from Host L.P.

Capital is allocated between controlling and non-controlling interests as follows (in millions):


	Capital of Host L.P.			Non-controlling interests			Total Capital			Limited Partnership Interests of Third Parties
Balance, December 31, 2010	$	6,302		$	29		$	6,331		$	191
Net income		2			2			4			—
Issuance of common OP units		288			—			288			—
Other changes in ownership		6			9			15			(17	)
Other comprehensive income (note 9)		15			—			15			—

Balance, June 17, 2011	$	6,613		$	40		$	6,653		$	174


	Capital of Host L.P.			Non-controlling interests			Total Capital			Limited Partnership Interests of Third Parties
Balance, December 31, 2009	$	6,187		$	22		$	6,209		$	139
Net income (loss)		(65	)		2			(63	)		(1	)
Issuance of common OP units		55			—			55			—
Redemption of preferred OP units		(101	)		—			(101	)		—
Other changes in ownership		(38	)		(3	)		(41	)		31
Other comprehensive loss (note 9)		(10	)		—			(10	)		—

Balance, June 18, 2010	$	6,028		$	21		$	6,049		$	169

Issuance of Common Stock

On April 21, 2011, we entered into a Sales Financing Agreement with BNY Mellon Capital Markets, LLC, through which Host may issue and sell, from time to time, shares having an aggregate offering price of up to $400 million. The sales will be made in “at the market” offerings under Securities and Exchange Commission (“SEC”) rules, including sales made directly on the NYSE. BNY Mellon Capital Markets, LLC is acting as sales agent. Host Inc. may sell shares of common stock under its new program from time to time based on market conditions, although it is not under an obligation to sell any shares. During the second quarter 2011, we issued approximately 11 million shares of common stock under the program at an average price of $17.29 per share for net proceeds of approximately $189 million.

Dividends/Distributions

On June 15, 2011, Host Inc.’s Board of Directors declared a dividend of $0.03 per share on its common stock. The dividend was paid on July 15, 2011 to stockholders of record as of June 30, 2011. Accordingly, Host L.P. made a distribution of $0.03064482 per unit on its common OP units based on the current conversion ratio.

Geographic Information

6 Months Ended

Jun. 17, 2011

Geographic Information

8.	Geographic Information

We consider each one of our hotels to be an operating segment, none of which meets the threshold for a reportable segment. We also allocate resources and assess operating performance based on individual hotels. All of our other real estate investment activities (primarily our leased hotels and office buildings) are immaterial and meet the aggregation criteria, and thus, we report one segment: hotel ownership. As of June 17, 2011, our foreign operations consist of 17 properties in seven countries. There were no intercompany sales during the periods presented. The following table presents total revenues and long-lived assets for each of the geographical areas in which we operate (in millions):


	Revenues								Property and Equipment, net
	Quarter ended				Year-to-date ended				June 17, 2011		December 31, 2010
	June 17, 2011		June 18, 2010		June 17, 2011		June 18, 2010		June 17, 2011		December 31, 2010
United States	$	1,222	$	1,072	$	2,082	$	1,866	$	10,906	$	10,095
Australia		4		—		4		—		149		—
Brazil		9		—		14		—		49		48
Canada		30		28		53		49		131		131
Chile		8		7		12		11		57		56
Mexico		6		5		10		8		29		29
New Zealand		8		—		9		—		153		—
United Kingdom		9		—		14		—		161		155

Total	$	1,296	$	1,112	$	2,198	$	1,934	$	11,635	$	10,514

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

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Comprehensive Income

6 Months Ended

Jun. 17, 2011

Comprehensive Income

9.	Comprehensive Income

Other comprehensive income consists of unrealized gains and losses on foreign currency translation adjustments and hedging instruments.

The following table presents comprehensive income for all periods presented (in millions):


	Quarter ended						Year-to-date ended
	June 17, 2011			June 18, 2010			June 17, 2011			June 18, 2010
Net income (loss)	$	64		$	20		$	4		$	(64	)
Other comprehensive income (loss)		11			(7	)		15			(10	)

Comprehensive income (loss)		75			13			19			(74	)
Comprehensive income attributable to the non-controlling interests		(2	)		(1	)		(2	)		(1	)

Comprehensive income (loss) attributable to Host Hotels & Resorts, Inc.	$	73		$	12		$	17		$	(75	)


	Quarter ended						Year-to-date ended
	June 17, 2011			June 18, 2010			June 17, 2011			June 18, 2010
Net income (loss)	$	64		$	20		$	4		$	(64	)
Other comprehensive income (loss)		11			(7	)		15			(10	)

Comprehensive income (loss)		75			13			19			(74	)
Comprehensive income attributable to the non-controlling interests		(1	)		(1	)		(2	)		(2	)

Comprehensive income (loss) attributable to Host Hotels & Resorts, L.P.	$	74		$	12		$	17		$	(76	)

The entire disclosure for comprehensive income. Includes, but is not limited to, the following: 1) the amount of income tax expense or benefit allocated to each component of other comprehensive income, including reclassification adjustments, 2) the reclassification adjustments for each classification of other comprehensive income and 3) the ending accumulated balances for each component of comprehensive income. Components of comprehensive income include: (1) foreign currency translation adjustments; (2) gains (losses) on foreign currency transactions that are designated as, and are effective as, economic hedges of a net investment in a foreign entity; (3) gains (losses) on intercompany foreign currency transactions that are of a long-term-investment nature, when the entities to the transaction are consolidated, combined, or accounted for by the equity method in the reporting enterprise's financial statements; (4) change in the market value of a futures contract that qualifies as a hedge of an asset reported at fair value; (5) unrealized holding gains (losses) on available-for-sale securities and that resulting from transfers of debt securities from the held-to-maturity category to the available-for-sale category; (6) a net loss recognized as an additional pension liability not yet recognized as net periodic pension cost; and (7) the net gain (loss) and net prior service cost or credit for pension plans and other postretirement benefit plans.

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Dispositions

6 Months Ended

Jun. 17, 2011

Dispositions

10.

Dispositions

We have classified one hotel as held for sale as of June 17, 2011. We disposed of two hotels in 2010 for net proceeds of approximately $12 million. The following table summarizes the revenues, income (loss) before taxes, and the gain (loss) on dispositions, net of income tax, of the hotels which have been included in discontinued operations for all periods presented:


	Quarter ended						Year-to-date ended
	June 17, 2011			June 18, 2010			June 17, 2011			June 18, 2010
	(in millions)
Revenues	$	2		$	5		$	3		$	9
Loss before income taxes		(3	)		—			(4	)		(3	)
Loss on dispositions, net of tax		—			(1	)		—			(1	)

Impairment of Assets Held for Sale

We analyze our assets for impairment when events or circumstances occur that indicate the carrying value may not be recoverable. We consider property to be impaired when the sum of future undiscounted cash flows over our remaining estimated holding period is less than the carrying value of the asset. For impaired assets, we record an impairment charge equal to the excess of the property’s carrying value over its fair value.

During the second quarter of 2011, we reviewed our hotel portfolio and evaluated our held-for-sale assets for impairment. Properties are tested for impairment based on management’s estimate of expected future undiscounted cash flows from operations and sale over our expected remaining hold period. The fair value of these properties is generally determined based on either a discounted cash flow analysis or negotiated sales prices. Based on these assessments, we recorded a non-cash impairment charge totaling $3 million in the second quarter associated with a property that was held for sale as of June 17, 2011. The impairment charge is included in discontinued operations on the consolidated statements of operations.

The entire disclosure for the facts and circumstances leading to the completed or expected disposal, manner and timing of disposal, the gain (loss) recognized in the income statement and the income statement caption that includes that gain (loss), amounts of revenues and pretax profit or loss reported in discontinued operations, the segment in which the disposal group was reported, and the classification (whether sold or classified as held for sale) and carrying value of the assets and liabilities comprising the disposal group. Includes all disposal groups, including those classified as components of the entity (discontinued operations).

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-URI http://asc.fasb.org/extlink&oid=6892542&loc=d3e957-107759

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-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=6360339&loc=d3e1474-107760

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Acquisitions

6 Months Ended

Jun. 17, 2011

Acquisitions

11.

Acquisitions

We record the assets acquired, liabilities assumed and non-controlling interests at the estimated fair value on the date of purchase. Acquisition-related costs, such as broker fees, due diligence costs, transfer taxes and legal and accounting fees, are expensed in the period incurred and are not capitalized or applied in determining the fair value of the acquired assets. During the second quarter of 2011, we acquired one hotel property. For the acquisitions described below, we recorded approximately $4 million of acquisition-related expenses year-to-date, $1 million of which were incurred in the second quarter of 2011. These costs are included in corporate and other expenses on the consolidated statement of operations. The purchase price allocations are estimated based on available information, however, we are still in the process of finalizing our accounting for the transactions below:

•

On April 29, 2011, we acquired a 75% common voting interest and a preferred interest in Plenary Holdings No. 4 Pty Ltd, the joint venture that indirectly owns the 364-room Hilton Melbourne South Wharf, Australia. The total transaction value, including the 25% voting interest retained by the previous owners, is AUD 142 million ($152 million) and includes the assumption of an existing AUD 80 million ($86 million) mortgage loan. We drew $50 million on the credit facility to fund the acquisition, which was repaid during the second quarter of 2011. We are entitled to receive a cumulative priority return of 12% based on our initial investment of AUD 45 million ($48 million) plus 75% of the distributable cash after our partner’s subordinated preferred interest.

•

During the first quarter of 2011, we acquired the 775-room New York Helmsley Hotel for $313.5 million, the 1,625-room Manchester Grand Hyatt San Diego for $572 million and a portfolio of seven hotels containing 1,207 rooms in New Zealand for approximately $145 million.

On February 22, 2011, Christchurch, New Zealand experienced an earthquake that resulted in substantial damage to two of the acquired hotels, Hotel Novotel Christchurch Cathedral Square and the Hotel ibis Christchurch. Currently, the hotels remain closed and largely inaccessible, as the New Zealand Ministry of Civil Defense and Emergency Management has restricted access to the area. Based on limited preliminary reviews, the overall structures of our properties remain intact; however, portions of our buildings, particularly the historic portion (39 rooms) of the Novotel property, have experienced significant damage. The properties are expected to remain closed until at least the second quarter of 2012 and potentially longer. We believe we have sufficient coverage under the insurance policy of our property manager for both property and business interruption. We estimate that the economic loss will be capped at approximately $3 million based on the maximum deductible under our insurance policy and have accrued the loss in the second quarter. The city experienced a second significant earthquake on June 13, 2011. While information about additional damage is limited, we do not believe it was significant and have not accrued any additional losses.

The following table summarizes the estimated fair value of the assets acquired and liabilities assumed in our acquisitions (in millions):


Property and equipment	$	1,164
Restricted cash, FF&E reserves and other assets		19

Total assets		1,183


Mortgage debt		86
Other liabilities		6

Total net assets acquired	$	1,091

Our summarized unaudited consolidated pro forma results of operations, assuming the 2011 acquisitions occurred on January 1, 2010, are as follows (in millions, except per share amounts):


	Quarter ended					Year-to-date ended
	June 17, 2011			June 18, 2010		June 17, 2011			June 18, 2010
Revenues	$	1,311		$	1,174	$	2,255		$	2,032
Income (loss) from continuing operations		69			22		17			(61	)
Net income (loss)		66			22		13			(63	)

Host Inc.:
Net income (loss) available to common shareholders		64			15		11			(72	)
Basic earnings (loss) per common share:
Continuing operations	$	.10		$	.02	$	.03		$	(.11	)
Discontinued operations		(.01	)		—		(.01	)		—

Basic earnings (loss) per common share	$	.09		$	.02	$	.02		$	(.11	)


Diluted earnings (loss) per common share:
Continuing operations	$	.10		$	.02	$	.03		$	(.11	)
Discontinued operations		(.01	)		—		(.01	)		—

Diluted earnings (loss) per common share	$	.09		$	.02	$	.02		$	(.11	)

Host L.P.:
Net income (loss) available to common unitholders		65			15		11			(73	)
Basic earnings (loss) per common unit:
Continuing operations	$	.10		$	.02	$	.03		$	(.11	)
Discontinued operations		(.01	)		—		(.01	)		—

Basic earnings (loss) per common unit	$	.09		$	.02	$	.02		$	(.11	)


Diluted earnings (loss) per common unit:
Continuing operations	$	.10		$	.02	$	.03		$	(.11	)
Discontinued operations		(.01	)		—		(.01	)		—

Diluted earnings (loss) per common unit	$	.09		$	.02	$	.02		$	(.11	)

The above pro forma results of operations exclude $1 million and $4 million of acquisitions costs for the quarter and year-to-date periods ended June 17, 2011, respectively. For the second quarter and year-to-date 2011, we have included approximately $55 million and $56 million of revenues, respectively, and $4 million of net income for each of the periods, respectively, in our consolidated statements of operations related to the operations of our 2011 acquisitions.

On July 14, 2011, the Company reached an agreement to acquire the 888-room Grand Hyatt Washington, D.C. for $442 million, which may include the assumption of a $166 million mortgage loan. The Grand Hyatt, which includes over 43,000 square feet of meeting space, is centrally located in the nation’s capital. The transaction is expected to be completed in September and is subject to customary closing conditions.

The entire disclosure for a business combination (or series of individually immaterial business combinations) completed during the period, including background, timing, and recognized assets and liabilities. The disclosure may include leverage buyout transactions (as applicable).

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Emerging Issues Task Force (EITF)
-Number 88-16
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
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Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 141R
-Appendix F
-Paragraph F4
-Subparagraph e

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-Name Statement of Financial Accounting Standard (FAS)
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-Paragraph 67-73
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Fair Value Measurements

6 Months Ended

Jun. 17, 2011

Fair Value Measurements

12.

Fair Value Measurements

We have adopted the provisions under GAAP for both recurring and non-recurring fair value measurements. Our recurring fair value measurements consist of the valuation of our derivative instruments, which may or may not be designated as accounting hedges. In evaluating the fair value of both financial and non-financial assets and liabilities, GAAP outlines a valuation framework and creates a fair value hierarchy that distinguishes between market assumptions based on market data (observable inputs) and a reporting entity’s own assumptions about market data (unobservable inputs). Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability at the measurement date in an orderly transaction (an exit price) and includes an evaluation of counterparty credit risk.

The following table details the fair value of our financial assets and liabilities that are required to be measured at fair value on a recurring basis and the change in the fair value of the derivative instruments at June 17, 2011 (in millions).


	Balance at June 17, 2011		Fair Value at Measurement Date Using
	Balance at June 17, 2011		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
*Fair Value Measurements on a Recurring Basis:*
Interest rate swap derivatives	$	9.1	$	—	$	9.1	$	—
Foreign currency forward purchase contracts		1.3		—		1.3		—

	Balance at December 31, 2010		Fair Value at Measurement Date Using
	Balance at December 31, 2010		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Fair Value Measurements on a Recurring Basis:
Interest rate swap derivatives	$	10.6	$	—	$	10.6	$	—
Foreign currency forward purchase contracts		6.9		—		6.9		—

Interest Rate Swap Derivatives. In connection with the acquisition of the Hilton Melbourne South Wharf, on April 29, 2011, we assumed an interest rate swap agreement with a notional amount of AUD 80 million ($86 million) related to its mortgage debt. The purpose of the interest rate swap is to hedge against changes in cash flows (interest payments) attributable to fluctuations in the Reuters BBSY. As a result, we will pay a fixed rate of 7.52% and will receive a floating rate equal to the Reuters BBSY on the notional amount through maturity. The derivative value is based on the prevailing market yield curve on the date of measurement. We also evaluate counterparty credit risk in the calculation of the fair value of the swap. The swap did not qualify for hedge accounting at acquisition; therefore, the changes in the fair value of the derivative are recorded in gain (loss) on foreign currency transactions and derivatives on the accompanying unaudited condensed consolidated statements of operations at each balance sheet date. As of June 17, 2011, we have recorded a liability of $1.8 million related to the fair value of the swap.

On February 18, 2011, we entered into an interest rate swap agreement with a notional amount of NZD 79 million ($60 million) related to the mortgage debt on the seven properties acquired in New Zealand on February 18, 2011. We entered into the swap in order to hedge against changes in cash flows (interest payments) attributable to fluctuations in the 3-month NZD Bank Bill rate. As a result, we will pay a fixed rate of 4.75% and will receive a floating rate equal to the 3-month NZD Bank Bill rate on the notional amount through February 18, 2016. We have designated the derivative as a cash flow hedge. The derivative value is based on the prevailing market yield curve on the date of measurement. We also evaluate counterparty credit risk in the calculation of the fair value of the swap. The change in fair value of the derivative is recorded in accumulated other comprehensive income within the equity portion of our balance sheet. As of June 17, 2011, we recorded a liability of $1.8 million related to the fair value of the swap. No portion of the cash flow derivative was ineffective during the quarter.

We have three additional interest rate swap agreements for an aggregate notional amount of $300 million. We entered into these derivative instruments in order to hedge changes in the fair value of the fixed-rate debt that occur as a result of changes in market interest rates. We have designated these derivatives as fair value hedges. The derivatives are valued based on the benchmark yield curve on the date of measurement. We also evaluate counterparty credit risk in the calculation of the fair value of the swaps. As of June 17, 2011 and December 31, 2010, we recorded an asset of $12.7 million and $10.6 million, respectively, related to the fair value of the swaps. We record the change in the fair value of the underlying debt due to change in the LIBOR rate as an addition to the carrying amount of the debt. Any difference between the change in the fair value of the swap and the change in the fair value in the underlying debt, which was not significant for the period presented, is considered the ineffective portion of the hedging relationship and is recognized in net income/loss.

Foreign Currency Forward Purchase Contracts. As of June 17, 2011, we had four foreign currency forward purchase contracts that hedge a portion of the foreign currency exposure resulting from the eventual repatriation of our net investment in the Euro JV. These derivatives are considered a hedge of the foreign currency exposure of a net investment in a foreign operation with changes in fair value recorded to accumulated other comprehensive income. The forward purchase contracts are valued based on the forward yield curve of the Euro to U.S. Dollar forward exchange rate on the date of measurement. The following table summarizes our foreign currency forward purchase contracts (in millions):


	Transaction Amount in Euros		Transaction Amount in Dollars		Forward Purchase Date	Fair Value at						Change in Fair Value for the period ended
Transaction Date	Transaction Amount in Euros		Transaction Amount in Dollars		Forward Purchase Date	June 17, 2011			December 31, 2010			June 17, 2011			June 18, 2010
February 2008	€	30	$	43	August 2011	$	—		$	2.8		$	(2.8	)	$	5.5
February 2008		15		22	February 2013		1.2			2.2			(1.0	)		2.4
May 2008		15		23	May 2014		2.2			2.9			(0.7	)		2.6
July 2010		20		26	October 2014		(2.1	)		(1.0	)		(1.1	)		—

Total	€	80	$	114		$	1.3		$	6.9		$	(5.6	)	$	10.5

On July 15, 2011, we entered into an additional €25 million ($34 million) forward purchase contract to hedge a portion of the foreign currency exposure resulting from the eventual repatriation of our net investment in the European joint venture. We will sell the Euro amount and receive the U.S. dollar amount on the forward purchase date of August 18, 2015. As part of the contract, we also entered into a forward purchase contract to net-settle the existing February 2008 €30 million foreign currency purchase contract and will receive cash of $0.4 million on the settlement date of August 18, 2011. Following these transactions, we have hedged our foreign currency exposure related to €75 million ($105 million) of our net investment in the European joint venture. Additionally on July 15, 2011 we entered into a €25 million ($35 million) forward purchase contract to hedge a portion of the foreign currency exposure resulting from our investment in a mortgage note on a portfolio of hotels. We will sell the Euro amount and receive the U.S. dollar amount on the forward purchase date of October 22, 2012.

Fair Value of Other Financial Assets and Liabilities. For financial statement purposes, we did not elect the fair value measurement option for any of our other financial assets or liabilities. We have calculated the fair value of other financial assets and liabilities as detailed below. Notes receivable and other financial assets are valued based on the expected future cash flows discounted at risk-adjusted rates and are adjusted to reflect the effects of foreign currency translation. Valuations for secured debt and the credit facility are determined based on the expected future payments discounted at risk-adjusted rates. Senior notes and the exchangeable senior debentures are valued based on quoted market prices. The fair values of financial instruments not included in this table are estimated to be equal to their carrying amounts. The carrying amount and fair value of certain financial assets and liabilities are shown below (in millions):


	June 17, 2011				December 31, 2010
	Carrying Amount		Fair Value		Carrying Amount		Fair Value
Financial assets
Mortgage notes receivable	$	64	$	86	$	55	$	77
Financial liabilities
Senior notes		3,340		3,467		3,093		3,200
Exchangeable Senior Debentures		1,170		1,398		1,156		1,471
Credit facility		162		162		58		58
Mortgage debt and other, net of capital leases		1,153		1,180		1,110		1,107

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 133
-Paragraph 44A, 44B
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Non-controlling Interests

Non-controlling Interests

6 Months Ended

Jun. 17, 2011

13.

Non-controlling Interests

Other Consolidated Partnerships. As of June 17, 2011, we consolidate five majority-owned partnerships that have third-party, non-controlling ownership interests. The third-party partnership interests are included in non-controlling interest—other consolidated partnerships on the unaudited condensed consolidated balance sheets and totaled $40 million and $29 million as of June 17, 2011 and December 31, 2010, respectively. Three of the partnerships have finite lives ranging from 99 to 100 years that terminate between 2081 and 2095, and the associated non-controlling interests are mandatorily redeemable at our option at the end of, but not prior to, the finite life. At June 17, 2011 and December 31, 2010, the fair values of the non-controlling interests in the partnerships with finite lives were approximately $66 million and $65 million, respectively.

Net (income) loss attributable to non-controlling interests of consolidated partnerships is included in our determination of net income (loss). However, net income (loss) has been reduced by the amount attributable to non-controlling interests of third parties, which totaled $1 million for the quarters ended June 17, 2011 and June 18, 2010 and $2 million for the year-to-date periods ended June 17, 2011 and June 18, 2010, in the determination of net income (loss) attributable to Host Inc. and Host L.P.

Host Inc.’s treatment of the non-controlling interests of Host L.P.: Host Inc. adjusts the non-controlling interests of Host L.P. each period so that the amount presented equals the greater of its carrying value based on the accumulated historical cost or its redemption value. The historical cost is based on the proportional relationship between the historical cost of equity held by our common stockholders relative to that of the unitholders of Host L.P. The redemption value is based on the amount of cash or Host Inc. stock, at our option, that would be paid to the non-controlling interests of Host L.P. if it were terminated. Therefore, we have assumed that the redemption value is equivalent to the number of shares issuable upon conversion of the OP units held by third parties valued at the market price of Host Inc. common stock at the balance sheet date. Subsequent to the stock dividend issued in 2009, one OP unit may now be exchanged into 1.021494 shares of Host Inc. common stock. Non-controlling interests of Host L.P. are classified in the mezzanine section of the balance sheet as they do not meet the requirements for equity classification because the redemption feature requires the delivery of registered shares. The table below details the historical cost and redemption values for the non-controlling interests:


	June 17, 2011		December 31, 2010
OP units outstanding (millions)		10.6		10.5
Market price per Host Inc. common share	$	16.09	$	17.87
Shares issuable upon conversion of one OP unit		1.021494		1.021494
Redemption value (millions)	$	174	$	191
Historical cost (millions)	$	104	$	101
Book value (millions) (1)	$	174	$	191

(1)	The book value recorded is equal to the greater of the redemption value or the historical cost.

Net (income) loss is allocated to the non-controlling interests of Host L.P. based on their weighted average ownership percentage during the period. Net income (loss) attributable to Host Inc. has been reduced by the amount attributable to non-controlling interests in Host L.P. The income (loss) attributable to the non-controlling interests of Host L.P. was $1 million for the quarter ended June 17, 2011 and $(1) million for the year-to-date period ended June 18, 2010.

The entire disclosure for noncontrolling interest in consolidated subsidiaries, which could include the name of the subsidiary, the ownership percentage held by the parent, the ownership percentage held by the noncontrolling owners, the amount of the noncontrolling interest, the location of this amount on the balance sheet (when not reported separately), an explanation of the increase or decrease in the amount of the noncontrolling interest, the noncontrolling interest share of the net Income or Loss of the subsidiary, the location of this amount on the income statement (when not reported separately), the nature of the noncontrolling interest such as background information and terms, the amount of the noncontrolling interest represented by preferred stock, a description of the preferred stock, and the dividend requirements of the preferred stock.

Legal Proceedings

6 Months Ended

Jun. 17, 2011

Legal Proceedings

14.

Legal Proceedings

We are involved in various legal proceedings in the normal course of business regarding the operation of our hotels. To the extent not covered by insurance, these lawsuits generally fall into the following broad categories: disputes involving hotel-level contracts, employment litigation, compliance with laws such as the Americans with Disabilities Act and other general matters. Under our management agreements, our operators have broad latitude to resolve individual hotel-level claims for amounts generally less than $150,000. However, for matters exceeding such threshold, our operators may not settle claims without our consent. Based on our analysis of legal proceedings that we are currently involved with or aware of and our experience in resolving similar claims in the past, we have accrued approximately $6 million and estimate that, in the aggregate, our losses related to these proceedings could be as much as $8 million. We are not aware of any other matters with a reasonably possible negative outcome for which disclosure of a loss contingency is required. No assurances can be given as to the outcome of any pending legal proceedings.

We have accrued a loss contingency of approximately $48 million related to the San Antonio Marriott Rivercenter. For further detail on this legal proceeding, see our annual report on Form 10-K for the year ended December 31, 2010.

Supplemental Guarantor and Non-Guarantor Subsidiary Information for Host L.P.

6 Months Ended

Jun. 17, 2011

Supplemental Guarantor and Non-Guarantor Subsidiary Information for Host L.P.

15.

Supplemental Guarantor and Non-Guarantor Subsidiary Information for Host L.P.

A portion of our subsidiaries guarantee our senior notes. Among the subsidiaries not providing guarantees are those owning 40 of our full-service hotels, our taxable REIT subsidiaries and all of their respective subsidiaries, and HMH HPT CBM LLC, the lessee of Courtyard properties. The separate financial statements of each guaranteeing subsidiary (each, a “Guarantor Subsidiary”) are not presented because we have concluded that such financial statements are not material to investors. The guarantee of each Guarantor Subsidiary is full and unconditional and joint and several and each Guarantor Subsidiary is wholly owned by us.

The following unaudited condensed consolidating financial information sets forth the financial position as of June 17, 2011 and December 31, 2010, results of operations for the quarter and year-to-date periods ended June 17, 2011 and June 18, 2010 and cash flows for the year-to-date periods ended June 17, 2011 and June 18, 2010 of the parent, Guarantor Subsidiaries and the Non-Guarantor Subsidiaries:

Supplemental Condensed Consolidating Balance Sheets

(in millions)

June 17, 2011


	Parent			Guarantor Subsidiaries		Non- Guarantor Subsidiaries		Eliminations			Consolidated
Property and equipment, net	$	652		$	5,594	$	5,389	$	—		$	11,635
Assets held for sale		6			—		—		—			6
Due from managers		(18	)		—		92		(7	)		67
Investments in affiliates		6,966			1,494		23		(8,305	)		178
Rent receivable		—			36		—		(36	)		—
Deferred financing costs, net		40			—		5		—			45
Furniture, fixtures and equipment replacement fund		61			34		77		—			172
Other		532			138		274		(614	)		330
Restricted cash		25			1		9		—			35
Cash and cash equivalents		494			11		129		—			634

Total assets	$	8,758		$	7,308	$	5,998	$	(8,962	)	$	13,102

Debt	$	1,872		$	2,981	$	1,338	$	(303	)	$	5,888
Rent payable		—			—		36		(36	)		—
Other liabilities		99			195		411		(318	)		387

Total liabilities		1,971			3,176		1,785		(657	)		6,275
Limited partnership interests of third parties		174			—		—		—			174
Capital		6,613			4,132		4,173		(8,305	)		6,613

Total liabilities and capital		8,758			7,308		5,958		(8,962	)		13,062
Non-controlling interests — consolidated partnerships		—			—		40		—			40

Total liabilities, limited partnership interests of third parties and capital	$	8,758		$	7,308	$	5,998	$	(8,962	)	$	13,102

Supplemental Condensed Consolidating Balance Sheets

(in millions)

December 31, 2010


	Parent			Guarantor Subsidiaries		Non- Guarantor Subsidiaries		Eliminations			Consolidated
Property and equipment, net	$	675		$	5,227	$	4,612	$	—		$	10,514
Due from managers		(22	)		1		66		—			45
Investments in affiliates		6,566			1,547		22		(7,987	)		148
Rent receivable		—			29		—		(29	)		—
Deferred financing costs, net		38			—		6		—			44
Furniture, fixtures and equipment replacement fund		67			30		55		—			152
Other		319			124		325		(415	)		353
Restricted cash		29			1		11		—			41
Cash and cash equivalents		733			30		350		—			1,113

Total assets	$	8,405		$	6,989	$	5,447	$	(8,431	)	$	12,410

Debt	$	1,785		$	2,766	$	1,178	$	(252	)	$	5,477
Rent payable		—			—		29		(29	)		—
Other liabilities		127			166		281		(163	)		411

Total liabilities		1,912			2,932		1,488		(444	)		5,888
Limited partnership interests of third parties		191			—		—		—			191
Capital		6,302			4,057		3,930		(7,987	)		6,302

Total liabilities and capital		8,405			6,989		5,418		(8,431	)		12,381
Non-controlling interests – consolidated partnerships		—			—		29		—			29

Total liabilities, limited partnership interests of third parties and capital	$	8,405		$	6,989	$	5,447	$	(8,431	)	$	12,410

Supplemental Condensed Consolidating Statements of Operations

(in millions)

Quarter ended June 17, 2011


	Parent			Guarantor Subsidiaries			Non- Guarantor Subsidiaries			Eliminations			Consolidated
REVENUES	$	117		$	131		$	1,295		$	(247	)	$	1,296
Hotel operating expenses		—			—			(836	)		—			(836	)
Other property-level expenses		(5	)		(36	)		(96	)		—			(137	)
Depreciation and amortization		(13	)		(70	)		(66	)		—			(149	)
Corporate and other expenses		(2	)		(10	)		(10	)		—			(22	)
Rental expense		—			—			(247	)		247			—
Interest income		4			4			1			(4	)		5
Interest expense		(23	)		(50	)		(20	)		4			(89	)
Net gain on property transactions and other		1			—			1			—			2
Gain (loss) on foreign currency transactions and derivatives		(1	)		—			2			—			1
Equity in earnings (losses) of affiliates		(11	)		17			—			(2	)		4

Income (loss) before income taxes		67			(14	)		24			(2	)		75
Provision for income taxes		—			—			(8	)		—			(8	)

INCOME (LOSS) FROM CONTINUING OPERATIONS		67			(14	)		16			(2	)		67
Loss from discontinued operations, net of tax		(3	)		—			—			—			(3	)

NET INCOME (LOSS)		64			(14	)		16			(2	)		64
Less: Net income attributable to non-controlling interests		—			—			(1	)		—			(1	)

Net income (loss) attributable to Host Hotels & Resorts, L.P.	$	64		$	(14	)	$	15		$	(2	)	$	63

Supplemental Condensed Consolidating Statements of Operations

(in millions)

Quarter ended June 18, 2010


	Parent			Guarantor Subsidiaries			Non- Guarantor Subsidiaries			Eliminations			Consolidated
REVENUES	$	67		$	138		$	1,111		$	(204	)	$	1,112
Hotel operating expenses		—			—			(743	)		—			(743	)
Property-level expenses		(7	)		(37	)		(52	)		—			(96	)
Depreciation and amortization		(13	)		(70	)		(56	)		—			(139	)
Corporate and other expenses		(2	)		(12	)		(10	)		—			(24	)
Rental expense		—			—			(204	)		204			—
Interest income		2			—			3			(4	)		1
Interest expense		(25	)		(47	)		(14	)		4			(82	)
Loss on foreign currency transactions and derivatives		(1	)		—			(2	)		—			(3	)
Equity in earnings (losses) of affiliates		(1	)		21			—			(20	)		—

Income (loss) before income taxes		20			(7	)		33			(20	)		26
Provision for income taxes		—			—			(6	)		—			(6	)

INCOME (LOSS) FROM CONTINUING OPERATIONS		20			(7	)		27			(20	)		20
Income (loss) from discontinued operations, net of tax		—			—			(2	)		2			—

NET INCOME (LOSS)		20			(7	)		25			(18	)		20
Less: Net income attributable to non-controlling interests		—			—			(1	)		—			(1	)

Net income (loss) attributable to Host Hotels & Resorts, L.P.	$	20		$	(7	)	$	24		$	(18	)	$	19

Supplemental Condensed Consolidating Statements of Operations

(in millions)

Year-to-date ended June 17, 2011


	Parent			Guarantor Subsidiaries			Non- Guarantor Subsidiaries			Eliminations			Consolidated
REVENUES	$	187		$	240		$	2,196		$	(425	)	$	2,198
Hotel operating expenses		—			—			(1,457	)		—			(1,457	)
Other property-level expenses		(10	)		(66	)		(178	)		—			(254	)
Depreciation and amortization		(25	)		(142	)		(123	)		—			(290	)
Corporate and other expenses		(3	)		(22	)		(22	)		—			(47	)
Rental expense		—			—			(425	)		425			—
Interest income		5			8			4			(8	)		9
Interest expense		(45	)		(96	)		(38	)		8			(171	)
Net gain (loss) on property transactions and other		74			—			(71	)		—			3
Gain on foreign currency transactions and derivatives		—			—			2			—			2
Equity in earnings (losses) of affiliates		(175	)		17			2			158			2

Income (loss) before income taxes		8			(61	)		(110	)		158			(5	)
Benefit for income taxes		—			—			13			—			13

INCOME (LOSS) FROM CONTINUING OPERATIONS		8			(61	)		(97	)		158			8
Loss from discontinued operations, net of tax		(4	)		—			—			—			(4	)

NET INCOME (LOSS)		4			(61	)		(97	)		158			4
Less: Net income attributable to non-controlling interests		—			—			(2	)		—			(2	)

Net income (loss) attributable to Host Hotels & Resorts, L.P.	$	4		$	(61	)	$	(99	)	$	158		$	2

Supplemental Condensed Consolidating Statements of Operations

(in millions)

Year-to-date ended June 18, 2010


	Parent			Guarantor Subsidiaries			Non- Guarantor Subsidiaries			Eliminations			Consolidated
REVENUES	$	124		$	251		$	1,932		$	(373	)	$	1,934
Hotel operating expenses		—			—			(1,320	)		—			(1,320	)
Property-level expenses		(12	)		(68	)		(101	)		—			(181	)
Depreciation and amortization		(26	)		(139	)		(110	)		—			(275	)
Corporate and other expenses		(4	)		(25	)		(20	)		—			(49	)
Rental expense		—			—			(373	)		373			—
Interest income		3			1			5			(7	)		2
Interest expense		(51	)		(104	)		(31	)		7			(179	)
Loss on foreign currency and derivatives		(3	)		—			(2	)		—			(5	)
Equity in earnings (losses) of affiliates		(93	)		21			—			67			(5	)

Loss before income taxes		(62	)		(63	)		(20	)		67			(78	)
Benefit for income taxes		—			—			16			—			16

LOSS FROM CONTINUING OPERATIONS		(62	)		(63	)		(4	)		67			(62	)
Loss from discontinued operations, net of tax		(2	)		—			(3	)		3			(2	)

NET LOSS		(64	)		(63	)		(7	)		70			(64	)
Less: Net income attributable to non-controlling interests		—			—			(2	)		—			(2	)

Net loss attributable to Host Hotels & Resorts, L.P.	$	(64	)	$	(63	)	$	(9	)	$	70		$	(66	)

Supplemental Condensed Consolidating Statements of Cash Flows

(in millions)

Year-to-date ended June 17, 2011


	Parent			Guarantor Subsidiaries			Non- Guarantor Subsidiaries			Consolidated
OPERATING ACTIVITIES
Cash provided by operations	$	155		$	53		$	48		$	256


INVESTING ACTIVITIES
Acquisitions		—			(283	)		(752	)		(1,035	)
Investment in affiliates		(18	)		—			—			(18	)
Capital expenditures		(14	)		(115	)		(111	)		(240	)
Change in furniture, fixtures and equipment (FF&E) replacement fund		9			(5	)		(3	)		1
Property insurance proceeds		—			—			2			2

Cash used in investing activities		(23	)		(403	)		(864	)		(1,290	)


FINANCING ACTIVITIES
Financing costs		(8	)		—			—			(8	)
Issuances of debt		496			—			80			576
Draw on credit facility		50			103			—			153
Repayment on credit facility		(50	)		—			—			(50	)
Repurchase of senior notes		(250	)		—			—			(250	)
Mortgage debt prepayments and scheduled maturities		—			(132	)		—			(132	)
Scheduled principal repayments		—			—			(2	)		(2	)
Common OP unit issuance		288			—			—			288
Distributions on common OP units		(21	)		—			—			(21	)
Distributions to non-controlling interests		—			—			(4	)		(4	)
Change in restricted cash for financing activities		—			—			5			5
Transfers to/from Parent		(876	)		360			516			—

Cash provided by (used in) financing activities		(371	)		331			595			555

DECREASE IN CASH AND CASH EQUIVALENTS	$	(239	)	$	(19	)	$	(221	)	$	(479	)

Supplemental Condensed Consolidating Statements of Cash Flows

(in millions)

Year-to-date ended June 18, 2010


	Parent			Guarantor Subsidiaries			Non- Guarantor Subsidiaries			Consolidated
OPERATING ACTIVITIES
Cash provided by operations	$	74		$	61		$	84		$	219


INVESTING ACTIVITIES
Proceeds from sales of assets, net		3			—			9			12
Purchase of mortgage note on a portfolio of hotels		(53	)		—			—			(53	)
Capital expenditures		(6	)		(53	)		(41	)		(100	)
Change in furniture, fixtures and equipment (FF&E) replacement fund		(1	)		(6	)		(15	)		(22	)
Change in FF&E replacement funds designated as restricted cash		—			—			5			5

Cash used in investing activities		(57	)		(59	)		(42	)		(158	)


FINANCING ACTIVITIES
Repurchase/redemption of senior notes, including exchangeable debentures		(346	)		—			—			(346	)
Mortgage debt prepayments and scheduled maturities		—			—			(124	)		(124	)
Scheduled principal repayments		—			(1	)		(4	)		(5	)
Common OP unit issuance		55			—			—			55
Redemption of preferred OP units		(101	)		—			—			(101	)
Distributions on common OP units		(7	)		—			—			(7	)
Distributions on preferred OP units		(6	)		—			—			(6	)
Distributions to non-controlling interests		—			—			(3	)		(3	)
Change in restricted cash other than FF&E replacement fund		1			(1	)		5			5
Transfers to/from Parent		(82	)		(8	)		90			—

Cash used in financing activities		(486	)		(10	)		(36	)		(532	)

INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS	$	(469	)	$	(8	)	$	6		$	(471	)

Earnings (Loss) Per Common Share (Unit) (Tables)

6 Months Ended

Jun. 17, 2011

HOST HOTELS & RESORTS, INC.

Earnings (Loss) Per Common Share (Unit)


	Quarter ended						Year-to-date ended
	June 17, 2011			June 18, 2010			June 17, 2011			June 18, 2010
	(in millions, except per share amounts)

Net income (loss)	$	64		$	20		$	4		$	(64	)
Net income attributable to non-controlling interests		(2	)		(1	)		(2	)		(1	)
Dividends on preferred stock		—			(2	)		—			(4	)
Issuance costs of redeemed preferred stock (a)		—			(4	)		—			(4	)

Earnings (loss) available to common stockholders		62			13			2			(73	)

Diluted earnings (loss) available to common stockholders	$	62		$	13		$	2		$	(73	)


Basic weighted average shares outstanding		685.7			652.5			681.5			650.3
Diluted weighted average shares outstanding (b)		687.1			654.1			683.0			650.3

Basic earnings (loss) per share	$	.09		$	.02		$	—		$	(.11	)
Diluted earnings (loss) per share	$	.09		$	.02		$	—		$	(.11	)

(a)	Represents the original issuance costs associated with the Class E preferred stock, which were redeemed during the second quarter 2010.

(b)	For all periods presented, there were approximately 50 million potentially dilutive shares related to our Exchangeable Senior Debentures, which were not included in the computation of diluted earnings per share because to do so would have been anti-dilutive for the period.

Earnings (Loss) Per Common Share (Unit)


	Quarter ended						Year-to-date ended
	June 17, 2011			June 18, 2010			June 17, 2011			June 18, 2010
	(in millions, except per unit amounts)

Net income (loss)	$	64		$	20		$	4		$	(64	)
Net income attributable to non-controlling interests		(1	)		(1	)		(2	)		(2	)
Distributions on preferred units		—			(2	)		—			(4	)
Issuance costs of redeemed preferred OP units (a)		—			(4	)		—			(4	)

Earnings (loss) available to common unitholders		63			13			2			(74	)

Diluted earnings (loss) available to common unitholders	$	63		$	13		$	2		$	(74	)


Basic weighted average units outstanding		682.0			649.5			677.8			647.5
Diluted weighted average units outstanding (b)		683.3			651.1			679.2			647.5

Basic earnings (loss) per unit	$	.09		$	.02		$	—		$	(.11	)
Diluted earnings (loss) per unit	$	.09		$	.02		$	—		$	(.11	)

(a)	Represents the original issuance costs associated with the Class E preferred OP units, which were redeemed during the second quarter 2010.

(b)	For all periods presented, there were approximately 49 million potentially dilutive units related to our Exchangeable Senior Debentures, which were not included in the computation of diluted earnings per unit because to do so would have been anti-dilutive for the period.

Property and Equipment (Tables)

6 Months Ended

Jun. 17, 2011

Summary of Property and Equipment

Property and equipment consists of the following as of (in millions):


	June 17, 2011			December 31, 2010
Land and land improvements	$	1,842		$	1,669
Buildings and leasehold improvements		13,240			12,080
Furniture and equipment		2,000			1,895
Construction in progress		125			168

		17,207			15,812
Less accumulated depreciation and amortization		(5,572	)		(5,298	)

	$	11,635		$	10,514

Equity of Host Inc. and Capital of Host L.P. (Tables)

6 Months Ended

Jun. 17, 2011

Equity Allocation Between Controlling and Non-Controlling Interests

Equity is allocated between controlling and non-controlling interests as follows (in millions):


	Host Hotels & Resorts, Inc.			Non-redeemable non-controlling interests			Total equity			Redeemable non-controlling interests
Balance, December 31, 2010	$	6,303		$	29		$	6,332		$	191
Net income		2			2			4			—
Issuance of common stock		288			—			288			—
Other changes in ownership		6			9			15			(17	)
Other comprehensive income (note 9)		15			—			15			—

Balance, June 17, 2011	$	6,614		$	40		$	6,654		$	174


	Host Hotels & Resorts, Inc.			Non-redeemable non-controlling interests			Total equity			Redeemable non-controlling interests
Balance, December 31, 2009	$	6,189		$	22		$	6,211		$	139
Net income (loss)		(65	)		2			(63	)		(1	)
Issuance of common stock		55			—			55			—
Redemption of preferred stock		(101	)		—			(101	)		—
Other changes in ownership		(39	)		(3	)		(42	)		31
Other comprehensive loss(note 9)		(10	)		—			(10	)		—

Balance, June 18, 2010	$	6,029		$	21		$	6,050		$	169

Capital Allocation Between Controlling and Non-Controlling Interests

Capital is allocated between controlling and non-controlling interests as follows (in millions):


	Capital of Host L.P.			Non-controlling interests			Total Capital			Limited Partnership Interests of Third Parties
Balance, December 31, 2010	$	6,302		$	29		$	6,331		$	191
Net income		2			2			4			—
Issuance of common OP units		288			—			288			—
Other changes in ownership		6			9			15			(17	)
Other comprehensive income (note 9)		15			—			15			—

Balance, June 17, 2011	$	6,613		$	40		$	6,653		$	174


	Capital of Host L.P.			Non-controlling interests			Total Capital			Limited Partnership Interests of Third Parties
Balance, December 31, 2009	$	6,187		$	22		$	6,209		$	139
Net income (loss)		(65	)		2			(63	)		(1	)
Issuance of common OP units		55			—			55			—
Redemption of preferred OP units		(101	)		—			(101	)		—
Other changes in ownership		(38	)		(3	)		(41	)		31
Other comprehensive loss (note 9)		(10	)		—			(10	)		—

Balance, June 18, 2010	$	6,028		$	21		$	6,049		$	169

The entire disclosure for the formation, structure, control and ownership of the partnership. Disclosures related to accounts comprising partners' capital. Includes balances of general partners' capital account, limited partners' capital account, preferred partners' capital account and total partners' capital account and units outstanding; accumulated other comprehensive income; amount and nature of changes to amount of partner's capital and units outstanding by class, rights and privileges for each class of units; distribution policies and distributions paid by unit class; impact of and correction of an error in previously issued financial statements; limitations of partners' liability; redemption, conversion and distribution policies; and deferred compensation related to the issuance of units.

The entire disclosure for shareholders' equity, comprised of portions attributable to the parent entity and noncontrolling interest, if any, including other comprehensive income (as applicable). Including, but not limited to: (1) balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings; (2) accumulated balance for each classification of other comprehensive income and total amount of comprehensive income; (3) amount and nature of changes in separate accounts, including the number of shares authorized and outstanding, number of shares issued upon exercise and conversion, and for other comprehensive income, the adjustments for reclassifications to net income; (4) rights and privileges of each class of stock authorized; (5) basis of treasury stock, if other than cost, and amounts paid and accounting treatment for treasury stock purchased significantly in excess of market; (6) dividends paid or payable per share and in the aggregate for each class of stock for each period presented; (7) dividend restrictions and accumulated preferred dividends in arrears (in aggregate and per share amount); (8) retained earnings appropriations or restrictions, such as dividend restrictions; (9) impact of change in accounting principle, initial adoption of new accounting principle and correction of an error in previously issued financial statements; (10) shares held in trust for Employee Stock Ownership Plan (ESOP); (11) deferred compensation related to issuance of capital stock; (12) note received for issuance of stock; (13) unamortized discount on shares; (14) description, terms, and number of warrants or rights outstanding; (15) shares under subscription and subscription receivables, effective date of new retained earnings after quasi-reorganization and deficit eliminated by quasi-reorganization and, for a period of at least ten years after the effective date, the point in time from which the new retained dates; and (16) retroactive effective of subsequent change in capital structure.

Reference 1: http://www.xbrl.org/2003/role/presentationRef
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-Name Accounting Principles Board Opinion (APB)
-Number 12
-Paragraph 10
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-Name Regulation S-X (SX)
-Number 210
-Section 04
-Article 3

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-Section 08
-Paragraph d

Reference 4: http://www.xbrl.org/2003/role/presentationRef
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-Section B
-Paragraph 7, 11A
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

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-Name Statement of Financial Accounting Standard (FAS)
-Number 129
-Paragraph 2, 3, 4, 5, 6, 7, 8
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

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-Name Regulation S-X (SX)
-Number 210
-Section 08
-Article 4

Reference 7: http://www.xbrl.org/2003/role/presentationRef
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-Name Statement of Financial Accounting Standard (FAS)
-Number 5
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-Name Regulation S-X (SX)
-Number 210
-Section 02
-Paragraph 29, 30, 31
-Article 5

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-Name Staff Accounting Bulletin (SAB)
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Reference 21: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Glossary Preferred Stock
-URI http://asc.fasb.org/extlink&oid=6521494

Reference 22: http://www.xbrl.org/2003/role/presentationRef
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-Name Accounting Standards Codification
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Revenues and Long-Lived Assets by Geographical Area

Geographic Information (Tables)

6 Months Ended

Jun. 17, 2011

The following table presents total revenues and long-lived assets for each of the geographical areas in which we operate (in millions):


	Revenues								Property and Equipment, net
	Quarter ended				Year-to-date ended				June 17, 2011		December 31, 2010
	June 17, 2011		June 18, 2010		June 17, 2011		June 18, 2010		June 17, 2011		December 31, 2010
United States	$	1,222	$	1,072	$	2,082	$	1,866	$	10,906	$	10,095
Australia		4		—		4		—		149		—
Brazil		9		—		14		—		49		48
Canada		30		28		53		49		131		131
Chile		8		7		12		11		57		56
Mexico		6		5		10		8		29		29
New Zealand		8		—		9		—		153		—
United Kingdom		9		—		14		—		161		155

Total	$	1,296	$	1,112	$	2,198	$	1,934	$	11,635	$	10,514

Comprehensive Income (Tables)

6 Months Ended

Jun. 17, 2011

Comprehensive Income

The following table presents comprehensive income for all periods presented (in millions):


	Quarter ended						Year-to-date ended
	June 17, 2011			June 18, 2010			June 17, 2011			June 18, 2010
Net income (loss)	$	64		$	20		$	4		$	(64	)
Other comprehensive income (loss)		11			(7	)		15			(10	)

Comprehensive income (loss)		75			13			19			(74	)
Comprehensive income attributable to the non-controlling interests		(2	)		(1	)		(2	)		(1	)

Comprehensive income (loss) attributable to Host Hotels & Resorts, Inc.	$	73		$	12		$	17		$	(75	)


	Quarter ended						Year-to-date ended
	June 17, 2011			June 18, 2010			June 17, 2011			June 18, 2010
Net income (loss)	$	64		$	20		$	4		$	(64	)
Other comprehensive income (loss)		11			(7	)		15			(10	)

Comprehensive income (loss)		75			13			19			(74	)
Comprehensive income attributable to the non-controlling interests		(1	)		(1	)		(2	)		(2	)

Comprehensive income (loss) attributable to Host Hotels & Resorts, L.P.	$	74		$	12		$	17		$	(76	)

Dispositions (Tables)

6 Months Ended

Jun. 17, 2011

Schedule of Disposal Groups, Including Discontinued Operations, Income Statement Disclosures

The following table summarizes the revenues, income (loss) before taxes, and the gain (loss) on dispositions, net of income tax, of the hotels which have been included in discontinued operations for all periods presented:


	Quarter ended						Year-to-date ended
	June 17, 2011			June 18, 2010			June 17, 2011			June 18, 2010
	(in millions)
Revenues	$	2		$	5		$	3		$	9
Loss before income taxes		(3	)		—			(4	)		(3	)
Loss on dispositions, net of tax		—			(1	)		—			(1	)

Acquisitions (Tables)

6 Months Ended

Jun. 17, 2011

Estimated Fair Value of the Assets Acquired and Liabilities Assumed in Acquisitions

The following table summarizes the estimated fair value of the assets acquired and liabilities assumed in our acquisitions (in millions):


Property and equipment	$	1,164
Restricted cash, FF&E reserves and other assets		19

Total assets		1,183


Mortgage debt		86
Other liabilities		6

Total net assets acquired	$	1,091

Summary of Unaudited Consolidated Pro Forma Results of Operations

Our summarized unaudited consolidated pro forma results of operations, assuming the 2011 acquisitions occurred on January 1, 2010, are as follows (in millions, except per share amounts):


	Quarter ended					Year-to-date ended
	June 17, 2011			June 18, 2010		June 17, 2011			June 18, 2010
Revenues	$	1,311		$	1,174	$	2,255		$	2,032
Income (loss) from continuing operations		69			22		17			(61	)
Net income (loss)		66			22		13			(63	)

Host Inc.:
Net income (loss) available to common shareholders		64			15		11			(72	)
Basic earnings (loss) per common share:
Continuing operations	$	.10		$	.02	$	.03		$	(.11	)
Discontinued operations		(.01	)		—		(.01	)		—

Basic earnings (loss) per common share	$	.09		$	.02	$	.02		$	(.11	)


Diluted earnings (loss) per common share:
Continuing operations	$	.10		$	.02	$	.03		$	(.11	)
Discontinued operations		(.01	)		—		(.01	)		—

Diluted earnings (loss) per common share	$	.09		$	.02	$	.02		$	(.11	)

Host L.P.:
Net income (loss) available to common unitholders		65			15		11			(73	)
Basic earnings (loss) per common unit:
Continuing operations	$	.10		$	.02	$	.03		$	(.11	)
Discontinued operations		(.01	)		—		(.01	)		—

Basic earnings (loss) per common unit	$	.09		$	.02	$	.02		$	(.11	)


Diluted earnings (loss) per common unit:
Continuing operations	$	.10		$	.02	$	.03		$	(.11	)
Discontinued operations		(.01	)		—		(.01	)		—

Diluted earnings (loss) per common unit	$	.09		$	.02	$	.02		$	(.11	)

Tabular disclosure of pro forma results of operations for a material business acquisition or series of individually immaterial business acquisitions that are material in the aggregate.

Fair Value of Financial Assets and Liabilities

Fair Value Measurements (Tables)

6 Months Ended

Jun. 17, 2011


	Balance at June 17, 2011		Fair Value at Measurement Date Using
	Balance at June 17, 2011		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
*Fair Value Measurements on a Recurring Basis:*
Interest rate swap derivatives	$	9.1	$	—	$	9.1	$	—
Foreign currency forward purchase contracts		1.3		—		1.3		—

	Balance at December 31, 2010		Fair Value at Measurement Date Using
	Balance at December 31, 2010		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Fair Value Measurements on a Recurring Basis:
Interest rate swap derivatives	$	10.6	$	—	$	10.6	$	—
Foreign currency forward purchase contracts		6.9		—		6.9

Foreign Currency Forward Purchase Contracts

The following table summarizes our foreign currency forward purchase contracts (in millions):


	Transaction Amount in Euros		Transaction Amount in Dollars		Forward Purchase Date	Fair Value at						Change in Fair Value for the period ended
Transaction Date	Transaction Amount in Euros		Transaction Amount in Dollars		Forward Purchase Date	June 17, 2011			December 31, 2010			June 17, 2011			June 18, 2010
February 2008	€	30	$	43	August 2011	$	—		$	2.8		$	(2.8	)	$	5.5
February 2008		15		22	February 2013		1.2			2.2			(1.0	)		2.4
May 2008		15		23	May 2014		2.2			2.9			(0.7	)		2.6
July 2010		20		26	October 2014		(2.1	)		(1.0	)		(1.1	)		—

Total	€	80	$	114		$	1.3		$	6.9		$	(5.6	)	$	10.5

Carrying Amount and Fair Value of Certain Financial Assets and Liabilities

The carrying amount and fair value of certain financial assets and liabilities are shown below (in millions):


	June 17, 2011				December 31, 2010
	Carrying Amount		Fair Value		Carrying Amount		Fair Value
Financial assets
Mortgage notes receivable	$	64	$	86	$	55	$	77
Financial liabilities
Senior notes		3,340		3,467		3,093		3,200
Exchangeable Senior Debentures		1,170		1,398		1,156		1,471
Credit facility		162		162		58		58
Mortgage debt and other, net of capital leases		1,153		1,180		1,110		1,107

Tabular disclosure of the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments, assets, and liabilities. Such certain disclosures about the financial instruments, assets, and liabilities include: (1) the fair value of the required items together with their carrying amounts (as appropriate) and (2) the methodology and assumptions used in developing such estimates of fair value.

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 107
-Paragraph 10
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 2: http://www.xbrl.org/2003/role/presentationRef
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-Paragraph 14
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-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 3: http://www.xbrl.org/2003/role/presentationRef
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-Name Statement of Financial Accounting Standard (FAS)
-Number 107
-Paragraph 15
-Subparagraph b-d
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 4: http://www.xbrl.org/2003/role/presentationRef
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-Name Statement of Financial Accounting Standard (FAS)
-Number 157
-Paragraph 32
-Subparagraph a, c(1), c(2), c(3), d
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Reference 5: http://www.xbrl.org/2003/role/presentationRef
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-Name Statement of Financial Accounting Standard (FAS)
-Number 159
-Paragraph 18
-Subparagraph c(2), d, e, f
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 6: http://www.xbrl.org/2003/role/presentationRef
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-Subparagraph a, b, c(1), d(1)
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

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-Name Accounting Standards Codification
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-SubTopic 10
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-Paragraph 10
-Subparagraph (a)
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Historical Cost and Redemption Values for Non-Controlling Interests

Non-controlling Interests (Tables)

6 Months Ended

Jun. 17, 2011

The table below details the historical cost and redemption values for the non-controlling interests:


	June 17, 2011		December 31, 2010
OP units outstanding (millions)		10.6		10.5
Market price per Host Inc. common share	$	16.09	$	17.87
Shares issuable upon conversion of one OP unit		1.021494		1.021494
Redemption value (millions)	$	174	$	191
Historical cost (millions)	$	104	$	101
Book value (millions) (1)	$	174	$	191

(1)	The book value recorded is equal to the greater of the redemption value or the historical cost.

Tabular disclosure of redeemable noncontrolling interest (as defined) included in the statement of financial position as either a liability or temporary equity. As of the date of the statement of financial position, such redeemable noncontrolling interest is currently redeemable, as defined, for cash or other assets of the entity at (1) at a fixed or determinable price on a fixed or determinable date, (2) at the option of the holder of the noncontrolling interest, or (3) upon occurrence of an event that is not solely within the control of the entity.

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Emerging Issues Task Force (EITF)
-Number D-98
-Paragraph 40
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

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-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

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-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher AICPA
-Name Accounting Research Bulletin (ARB)
-Number 51
-Paragraph 25
-Appendix A

Schedule of Earnings Per Share, Basic and Diluted, by Common Class [Line Items]

Supplemental Disclosure of Noncash Investing and Financing Activities - Additional Information (Detail) shares in Millions, $ in Millions, $ in Millions	6 Months Ended
	Jun. 17, 2011 USD ($) shares	Jun. 18, 2010 USD ($) shares	Apr. 29, 2011 USD ($) Room	Apr. 29, 2011 AUD ($) Room	Mar. 25, 2011 Room	Mar. 17, 2011 USD ($) $ / PartnershipUnit Room
Manchester Grand Hyatt San Diego
Schedule of Cash Flow, Supplemental [Line Items]
Number of rooms \| Room					1,625
Hilton Melbourne South Wharf
Schedule of Cash Flow, Supplemental [Line Items]
Ownership percentage acquired			75.00%	75.00%
Mortgage debt assumed in connection with acquisition			$ 86.0	$ 80
Number of rooms \| Room			364	364
HOST HOTELS & RESORTS, INC.
Schedule of Cash Flow, Supplemental [Line Items]
Shares issued for converted units, shares \| shares	0.2	1.0
Value of shares issued \| $	$ 4.0	$ 12.0
HOST HOTELS & RESORTS, INC. \| Manchester Grand Hyatt San Diego
Schedule of Cash Flow, Supplemental [Line Items]
Number of rooms \| Room						1,625
HOST HOTELS & RESORTS, INC. \| Manchester Grand Hyatt San Diego \| Common Units
Schedule of Cash Flow, Supplemental [Line Items]
OP Units exchanged for ownership right, units \| $ / PartnershipUnit						0.3
OP Units exchanged for ownership right, value per unit \| $ / PartnershipUnit						18.741
OP Units exchanged for ownership right, value \| $						$ 6.0
HOST HOTELS & RESORTS, INC. \| Hilton Melbourne South Wharf
Schedule of Cash Flow, Supplemental [Line Items]
Ownership percentage acquired			75.00%	75.00%
Mortgage debt at fair value, premium \| $			$ 0.5
Mortgage debt assumed in connection with acquisition			$ 86.0	$ 80
Number of rooms \| Room			364	364
HOST HOTELS & RESORTS L.P.
Schedule of Cash Flow, Supplemental [Line Items]
Shares issued for converted units, shares \| shares	0.2	1.0
Common operating partnership units, value \| $	$ 4.0	$ 12.0
HOST HOTELS & RESORTS L.P. \| Manchester Grand Hyatt San Diego
Schedule of Cash Flow, Supplemental [Line Items]
Number of rooms \| Room						1,625
HOST HOTELS & RESORTS L.P. \| Manchester Grand Hyatt San Diego \| Common Units
Schedule of Cash Flow, Supplemental [Line Items]
OP Units exchanged for ownership right, units \| $ / PartnershipUnit						300,000
OP Units exchanged for ownership right, value per unit \| $ / PartnershipUnit						18.741
OP Units exchanged for ownership right, value \| $						$ 6.0
HOST HOTELS & RESORTS L.P. \| Hilton Melbourne South Wharf
Schedule of Cash Flow, Supplemental [Line Items]
Ownership percentage acquired			75.00%	75.00%
Mortgage debt at fair value, premium \| $			$ 0.5
Mortgage debt assumed in connection with acquisition			$ 86.0	$ 80
Number of rooms \| Room			364	364

Organization - Additional Information (Detail)	Jun. 17, 2011 Location
United States
Organization, Consolidation and Presentation of Financial Statements Disclosure [Line Items]
Number of lodging properties owned or controlled	106
Australia, Brazil, Chile, Canada, Mexico, New Zealand, and United Kingdom
Organization, Consolidation and Presentation of Financial Statements Disclosure [Line Items]
Number of lodging properties owned or controlled	17
HOST HOTELS & RESORTS, INC.
Organization, Consolidation and Presentation of Financial Statements Disclosure [Line Items]
Percentage of the common OP Units	98.50%

Host Inc. Earnings (Loss) Per Common Share (Detail) - HOST HOTELS & RESORTS, INC. - USD ($)
$ / shares in Units, shares in Millions, $ in Millions

3 Months Ended

6 Months Ended

Jun. 17, 2011

Jun. 18, 2010

Jun. 17, 2011

Jun. 18, 2010

Net income (loss)

$ 64

$ 20

$ 4

$ (64)

Less: Net income attributable to non- controlling interests

(2)

(1)

(2)

(1)

Dividends on preferred stock

(2)

(4)

Issuance costs of redeemed preferred stock

^[1]

(4)

Earnings (loss) available to common stockholders

(73)

Diluted earnings (loss) available to common stockholders

$ 62

$ 13

$ 2

$ (73)

Basic weighted average shares outstanding

685.7

652.5

681.5

650.3

Diluted weighted average shares outstanding

^[2]

687.1

654.1

683.0

650.3

Basic earnings (loss) per share

$ 0.09

$ 0.02

$ (0.11)

Diluted earnings (loss) per share

$ 0.09

$ 0.02

$ (0.11)

[1]	Represents the original issuance costs associated with the Class E preferred stock, which were redeemed during the second quarter 2010.
[2]	For all periods presented, there were approximately 50 million potentially dilutive shares related to our Exchangeable Senior Debentures, which were not included in the computation of diluted earnings per share because to do so would have been anti-dilutive for the period.

Host Inc. Earnings (Loss) Per Common Share (Parenthetical) (Detail) - shares shares in Millions	3 Months Ended		6 Months Ended
	Jun. 17, 2011	Jun. 18, 2010	Jun. 17, 2011	Jun. 18, 2010
HOST HOTELS & RESORTS, INC.
Schedule of Earnings Per Share, Basic and Diluted, by Common Class [Line Items]
Anti-dilutive shares which were not included in the computation of diluted EPS	50	50	50	50

Securities (including those issuable pursuant to contingent stock agreements) that could potentially dilute basic earnings per share (EPS) or earnings per unit (EPU) in the future that were not included in the computation of diluted EPS or EPU because to do so would increase EPS or EPU amounts or decrease loss per share or unit amounts for the period presented.

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 128
-Paragraph 13, 14
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 128
-Paragraph 171
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 128
-Paragraph 40
-Subparagraph c
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 50
-Paragraph 1
-Subparagraph (c)
-URI http://asc.fasb.org/extlink&oid=6371337&loc=d3e3550-109257

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Glossary Diluted Earnings Per Share
-URI http://asc.fasb.org/extlink&oid=6510752

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Glossary Contingent Stock Agreement
-URI http://asc.fasb.org/extlink&oid=6508534

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Glossary Antidilution
-URI http://asc.fasb.org/extlink&oid=6505113

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Emerging Issues Task Force (EITF)
-Number 07-4
-Paragraph 4
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Schedule of Earnings Per Share, Basic and Diluted, by Common Class [Line Items]

Host L.P. Earnings (Loss) Per Common Unit (Detail) - HOST HOTELS & RESORTS L.P.
PartnershipUnit in Millions, $ in Millions

3 Months Ended

6 Months Ended

Jun. 17, 2011

USD ($)

PartnershipUnit

$ / PartnershipUnit

Jun. 18, 2010

USD ($)

PartnershipUnit

$ / PartnershipUnit

Jun. 17, 2011

USD ($)

PartnershipUnit

Jun. 18, 2010

USD ($)

PartnershipUnit

$ / PartnershipUnit

Net income (loss)

$ 64

$ 20

$ 4

$ (64)

Less: Net income attributable to non- controlling interests

(1)

(2)

Distributions on preferred units

(2)

(4)

Issuance costs of redeemed preferred OP units

^[1]

(4)

Earnings (loss) available to common unitholders

(74)

Diluted earnings (loss) available to common unitholders

$ 63

$ 13

$ 2

$ (74)

Basic weighted average units outstanding | PartnershipUnit

682.0

649.5

677.8

647.5

Diluted weighted average units outstanding | PartnershipUnit

^[2]

683.3

651.1

679.2

647.5

Basic earnings (loss) per unit | $ / PartnershipUnit

0.09

0.02

(0.11)

Diluted earnings (loss) per unit | $ / PartnershipUnit

0.09

0.02

(0.11)

[1]	Represents the original issuance costs associated with the Class E preferred OP units, which were redeemed during the second quarter 2010.
[2]	For all periods presented, there were approximately 49 million potentially dilutive units related to our Exchangeable Senior Debentures, which were not included in the computation of diluted earnings per unit because to do so would have been anti-dilutive for the period.

Host L.P. Earnings (Loss) Per Common Unit (Parenthetical) (Detail) - PartnershipUnit PartnershipUnit in Millions	Jun. 17, 2011	Jun. 18, 2010
HOST HOTELS & RESORTS L.P.
Schedule of Earnings Per Share, Basic and Diluted, by Common Class [Line Items]
Anti-dilutive units which were not included in the computation of diluted earnings per unit	49	49

Summary of Property and Equipment (Detail) - USD ($) $ in Millions	Jun. 17, 2011	Dec. 31, 2010
Property, Plant and Equipment [Line Items]
Land and land improvements	$ 1,842	$ 1,669
Buildings and leasehold improvements	13,240	12,080
Furniture and equipment	2,000	1,895
Construction in progress	125	168
Property, Plant and Equipment, Gross, Total	17,207	15,812
Less accumulated depreciation and amortization	(5,572)	(5,298)
Property and Equipment, net	$ 11,635	$ 10,514

The cumulative amount of depreciation, depletion and amortization (related to property, plant and equipment, but not including land) that has been recognized in the income statement.

Investment in Affiliates - Additional Information (Detail) - 6 months ended Jun. 17, 2011 € in Millions, £ in Millions, $ in Millions	USD ($) Contract	GBP (£) Contract	EUR (€) Room
New Contract \| European Joint Venture
Investments in and Advances to Affiliates [Line Items]
Number of extension option \| Contract	2	2
Subsequent event date	Jun. 27, 2011	Jun. 27, 2011
New Contract \| European Joint Venture \| Secondary Fund
Investments in and Advances to Affiliates [Line Items]
Host's limited partner interest	33.30%	33.30%
Host's general partner interest	0.10%	0.10%
Fund target size, new equity			€ 450
Fund investment potential			€ 1,000
New Contract \| European Joint Venture \| Le Meridien Piccadilly
Investments in and Advances to Affiliates [Line Items]
Property transfer price	$ 102	£ 64
Mortgage debt assumed	52	32
Repayment of credit facility	$ 41	£ 25
New Contract \| European Joint Venture \| Prior Agreement
Investments in and Advances to Affiliates [Line Items]
Term of joint venture			2016
New Contract \| European Joint Venture \| After Amendment
Investments in and Advances to Affiliates [Line Items]
Term of joint venture			2021
Subsequent Event \| Pullman Bercy, Paris
Investments in and Advances to Affiliates [Line Items]
Subsequent event date	Jul. 06, 2011	Jul. 06, 2011
Number of rooms \| Room			396
Acquisition purchase price			€ 96
Renovation cost			€ 9

Debt - Additional Information (Detail) £ in Millions, shares in Millions, $ in Millions, $ in Millions	1 Months Ended					3 Months Ended	6 Months Ended
	May 31, 2011 USD ($)	May 27, 2011 USD ($) shares	May 12, 2011 USD ($)	Apr. 29, 2011 USD ($)	Apr. 26, 2011 USD ($)	Jun. 17, 2011 USD ($)	Jun. 17, 2011 USD ($) shares	Jun. 17, 2011 GBP (£) shares	May 25, 2011 USD ($)	May 11, 2011 USD ($)	Apr. 29, 2011 AUD ($)
Debt Disclosure [Line Items]
Draw on credit facility					$ 50.0
Remaining available capacity under credit facility						$ 438.0	$ 438.0
New Contract
Debt Disclosure [Line Items]
Decrease amount to outstanding debt from repayments							304.0
Total debt outstanding						5,600.0	5,600.0
Remaining available capacity under credit facility						479.0	479.0
New Contract \| European Joint Venture \| Le Meridien Piccadilly
Debt Disclosure [Line Items]
Repayment of credit facility							41.0	£ 25
Series W Senior Notes 5.875 Percent Due June 15, 2019
Debt Disclosure [Line Items]
Face amount of debt									$ 75.0	$ 425.0
Procced from issuance of note	$ 489.0
Interest payment term	Semi-annually in arrears on June 15 and December 15, beginning December 15, 2011.
Proceed used to pay draw on credit facility						50.0	$ 50.0
Debt interest rate										5.875%
Series K Senior Notes 7.125 Percent Due November 2013
Debt Disclosure [Line Items]
Debt principal redeemed amount						250.0
Prepayment premiums						$ 3.0
Debt interest rate						7.125%	7.125%
Exchangeable Senior Debentures 3.25 Percent
Debt Disclosure [Line Items]
Redemption description		we gave notice of our intent to redeem $150 million of the outstanding $325 million 3.25% Exchangeable Senior Debentures.
Repurchase of debt, face amount		$ 150.0
Outstanding amount of debt instrument		$ 325.0
Debt interest rate		3.25%
Exchangeable Senior Debentures 3.25 Percent \| Subsequent Event
Debt Disclosure [Line Items]
Value of debentures converted to equity		$ 134.0					$ 134.0
Debt converted into shares of Host Inc. common stock \| shares		8.8					8.8	8.8
Debentures redeemed for cash		$ 16.0					$ 16.0
Exchangeable Senior Debentures 3.25 Percent \| New Contract
Debt Disclosure [Line Items]
Repurchase of debt, face amount							$ 150.0
Line of Credit
Debt Disclosure [Line Items]
Repayment of credit facility			$ 50.0
Australia \| Hilton Melbourne South Wharf
Debt Disclosure [Line Items]
Mortgage debt assumed				$ 86.0							$ 80.0
Mortgage debt at fair value, premium				0.5
Swap's fair value, liability				$ 1.9							$ 1.8
Fixed rate percentage of swap derivatives				7.52%							7.52%
Australia \| Hilton Melbourne South Wharf \| Interest rate swap derivatives
Debt Disclosure [Line Items]
Basis point over the fixed rate				3.25%							3.25%
Fixed rate percentage of swap derivatives				7.52%							7.52%
Swap agreement expiration date				Mar. 19, 2012
Debt expiration date				Feb. 28, 2012

Equity Allocation Between Controlling and Non-Controlling Interests (Detail) - HOST HOTELS & RESORTS, INC. - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 17, 2011	Jun. 18, 2010	Jun. 17, 2011	Jun. 18, 2010
Stockholders Equity Note [Line Items]
Beginning Balance			$ 6,332	$ 6,211
Net income (loss)			4	(63)
Issuance of common stock			288	55
Redemption of preferred stock				(101)
Other changes in ownership			15	(42)
Other comprehensive income (note 9)	$ 11	$ (7)	15	(10)
Ending Balance	6,654	6,050	6,654	6,050
Parent
Stockholders Equity Note [Line Items]
Beginning Balance			6,303	6,189
Net income (loss)			2	(65)
Issuance of common stock			288	55
Redemption of preferred stock				(101)
Other changes in ownership			6	(39)
Other comprehensive income (note 9)			15	(10)
Ending Balance	6,614	6,029	6,614	6,029
Non-redeemable non-controlling interests
Stockholders Equity Note [Line Items]
Beginning Balance			29	22
Net income (loss)			2	2
Other changes in ownership			9	(3)
Ending Balance	40	21	40	21
Redeemable non-controlling interests
Stockholders Equity Note [Line Items]
Beginning Balance			191	139
Net income (loss)				(1)
Other changes in ownership			(17)	31
Ending Balance	$ 174	$ 169	$ 174	$ 169

Equity of Host Inc. and Capital of Host L.P. - Additional Information (Detail) $ / shares in Units, $ in Millions	1 Months Ended	6 Months Ended
	Apr. 21, 2011 USD ($)	Jun. 17, 2011 USD ($) shares $ / shares	Jun. 18, 2010 USD ($)	Dec. 31, 2010 shares
Limited Partner
Stockholders Equity Note [Line Items]
Percentage of the common OP Units		1.50%
Shares issuable upon conversion of one OP unit \| shares		1.021494
HOST HOTELS & RESORTS, INC.
Stockholders Equity Note [Line Items]
Percentage of the common OP Units		98.50%
Common stock issuance \| $		$ 288	$ 55
Declaration Date		Jun. 15, 2011
Dividend per share, declared \| $ / shares		$ 0.03
Payment Date		Jul. 15, 2011
Record Date		Jun. 30, 2011
HOST HOTELS & RESORTS, INC. \| 2011 Sales Agency Financing Agreement
Stockholders Equity Note [Line Items]
Common stock issued \| shares		11,000,000
Average price per share for stock issued \| $ / shares		$ 17.29
Common stock issuance \| $		$ 189
HOST HOTELS & RESORTS, INC. \| 2011 Sales Agency Financing Agreement \| Upper Limit
Stockholders Equity Note [Line Items]
Aggregate common stock offering price value \| $	$ 400
HOST HOTELS & RESORTS L.P.
Stockholders Equity Note [Line Items]
Shares issuable upon conversion of one OP unit \| shares		1.021494		1.021494
Common OP units, distribution paid \| $ / shares		$ 0.03064482

Capital Allocation Between Controlling and Non-Controlling Interests (Detail) - HOST HOTELS & RESORTS L.P. - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 17, 2011	Jun. 18, 2010	Jun. 17, 2011	Jun. 18, 2010
Other Ownership Interests [Line Items]
Beginning Balance			$ 6,331	$ 6,209
Net income (loss)			4	(63)
Issuance of common OP units			288	55
Redemption of preferred OP units				(101)
Other changes in ownership			15	(41)
Other comprehensive income (note 9)	$ 11	$ (7)	15	(10)
Ending Balance	6,653	6,049	6,653	6,049
Parent
Other Ownership Interests [Line Items]
Beginning Balance			6,302	6,187
Net income (loss)			2	(65)
Issuance of common OP units			288	55
Redemption of preferred OP units				(101)
Other changes in ownership			6	(38)
Other comprehensive income (note 9)			15	(10)
Ending Balance	6,613	6,028	6,613	6,028
Noncontrolling Interest
Other Ownership Interests [Line Items]
Beginning Balance			29	22
Net income (loss)			2	2
Other changes in ownership			9	(3)
Ending Balance	40	21	40	21
Limited Partnership Interests Of Third Parties
Other Ownership Interests [Line Items]
Beginning Balance			191	139
Net income (loss)				(1)
Other changes in ownership			(17)	31
Ending Balance	$ 174	$ 169	$ 174	$ 169

Revenues and Long-Lived Assets by Geographical Area (Detail) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 17, 2011	Jun. 18, 2010	Jun. 17, 2011	Jun. 18, 2010	Dec. 31, 2010
Segment Reporting Information [Line Items]
Revenues	$ 1,296	$ 1,112	$ 2,198	$ 1,934
Property and Equipment, net	11,635		11,635		$ 10,514
United States
Segment Reporting Information [Line Items]
Revenues	1,222	1,072	2,082	1,866
Property and Equipment, net	10,906		10,906		10,095
Australia
Segment Reporting Information [Line Items]
Revenues	4		4
Property and Equipment, net	149		149
Brazil
Segment Reporting Information [Line Items]
Revenues	9		14
Property and Equipment, net	49		49		48
Canada
Segment Reporting Information [Line Items]
Revenues	30	28	53	49
Property and Equipment, net	131		131		131
Chile
Segment Reporting Information [Line Items]
Revenues	8	7	12	11
Property and Equipment, net	57		57		56
Mexico
Segment Reporting Information [Line Items]
Revenues	6	$ 5	10	$ 8
Property and Equipment, net	29		29		29
New Zealand
Segment Reporting Information [Line Items]
Revenues	8		9
Property and Equipment, net	153		153
United Kingdom
Segment Reporting Information [Line Items]
Revenues	9		14
Property and Equipment, net	$ 161		$ 161		$ 155

Comprehensive Income (Detail) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
Comprehensive Income (Detail) - USD ($) $ in Millions	Jun. 17, 2011	Jun. 18, 2010	Jun. 17, 2011	Jun. 18, 2010
HOST HOTELS & RESORTS, INC.
Net income (loss)	$ 64	$ 20	$ 4	$ (64)
Other comprehensive income (loss)	11	(7)	15	(10)
Comprehensive income (loss)	75	13	19	(74)
Comprehensive income attributable to the non-controlling interests	(2)	(1)	(2)	(1)
Comprehensive loss attributable to the reporting entity	73	12	17	(75)
HOST HOTELS & RESORTS L.P.
Net income (loss)	64	20	4	(64)
Other comprehensive income (loss)	11	(7)	15	(10)
Comprehensive income (loss)	75	13	19	(74)
Comprehensive income attributable to the non-controlling interests	(1)	(1)	(2)	(2)
Comprehensive loss attributable to the reporting entity	$ 74	$ 12	$ 17	$ (76)

The change in equity [net assets] of a business enterprise during a period from transactions and other events and circumstances from non-owner sources which are attributable to the reporting entity. It includes all changes in equity during a period except those resulting from investments by owners and distributions to owners, but excludes any and all transactions which are directly or indirectly attributable to that ownership interest in subsidiary equity which is not attributable to the parent.

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher AICPA
-Name Accounting Research Bulletin (ARB)
-Number 51
-Paragraph 8, 9, 10, 11, 12, 13, 14
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher AICPA
-Name Accounting Research Bulletin (ARB)
-Number 51
-Paragraph 30
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher AICPA
-Name Accounting Research Bulletin (ARB)
-Number 51
-Paragraph A5
-Appendix A

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section 45
-Paragraph 5
-URI http://asc.fasb.org/extlink&oid=6920043&loc=d3e557-108580

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Glossary Net Income
-URI http://asc.fasb.org/extlink&oid=6518256

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Glossary Other Comprehensive Income
-URI http://asc.fasb.org/extlink&oid=6519514

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section 45
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=6920043&loc=d3e540-108580

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Glossary Comprehensive Income
-URI http://asc.fasb.org/extlink&oid=6508144

Reference 9: http://www.xbrl.org/2003/role/presentationRef
-Publisher AICPA
-Name Accounting Research Bulletin (ARB)
-Number 51
-Paragraph 38
-Subparagraph c(3)
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

The change in equity [net assets] of a business enterprise during a period from transactions and other events and circumstances from non-owner sources which are attributable to noncontrolling interests, if any. It includes all changes in equity during a period except those resulting from investments by owners and distributions to owners, which are directly or indirectly attributable to that ownership interest in subsidiary equity which is not attributable to the parent.

The change in equity [net assets] of a business enterprise during a period from transactions and other events and circumstances from non-owner sources which are attributable to the economic entity, including both controlling (parent) and noncontrolling interests. It includes all changes in equity during a period except those resulting from investments by owners and distributions to owners, including any and all transactions which are directly or indirectly attributable to that ownership interest in subsidiary equity which is not attributable to the parent.

This element represents Other Comprehensive Income or Loss, Net of Tax, for the period. Includes deferred gains or losses on qualifying hedges, unrealized holding gains or losses on available-for-sale securities, minimum pension liability, and cumulative translation adjustment. While for technical reasons this element has no balance attribute, the default assumption is a credit balance consistent with its label.

The consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest.

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher AICPA
-Name Accounting Research Bulletin (ARB)
-Number 51
-Paragraph 29
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher AICPA
-Name Accounting Research Bulletin (ARB)
-Number 51
-Paragraph 38
-Subparagraph a
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher AICPA
-Name Accounting Research Bulletin (ARB)
-Number 51
-Paragraph A1, A4, A5
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher AICPA
-Name Accounting Research Bulletin (ARB)
-Number 51
-Paragraph 5
-Subparagraph b
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 810
-SubTopic 10
-Section 55
-Paragraph 4K
-URI http://asc.fasb.org/extlink&oid=6922042&loc=SL4591552-111686

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 810
-SubTopic 10
-Section 45
-Paragraph 19
-URI http://asc.fasb.org/extlink&oid=6921628&loc=SL4569616-111683

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 810
-SubTopic 10
-Section 55
-Paragraph 4J
-URI http://asc.fasb.org/extlink&oid=6922042&loc=SL4591551-111686

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 810
-SubTopic 10
-Section 50
-Paragraph 1A
-Subparagraph (a),(c)
-URI http://asc.fasb.org/extlink&oid=6921930&loc=SL4573702-111684

Reference 9: http://www.xbrl.org/2003/role/presentationRef
-Publisher AICPA
-Name Accounting Research Bulletin (ARB)
-Number 51
-Paragraph 38
-Subparagraph c(1)
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Dispositions - Additional Information (Detail) $ in Millions	3 Months Ended	12 Months Ended
	Jun. 17, 2011 USD ($) Location	Dec. 31, 2010 USD ($) Location
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Number of hotels sold \| Location		2
Proceeds from sale of hotels \| $		$ 12
Non-cash impairment charges \| $	$ 3
Assets Held-for-sale
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Number of hotels \| Location	1

Summary of Revenues, Income (Loss) Before Taxes, and Gain (Loss) on Dispositions, Net of Income Tax (Detail) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 17, 2011	Jun. 18, 2010	Jun. 17, 2011	Jun. 18, 2010
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Revenues	$ 2	$ 5	$ 3	$ 9
Loss before income taxes	$ (3)		$ (4)	(3)
Loss on dispositions, net of tax		$ (1)		$ (1)

Gain (loss) after tax expense or benefit, not previously recognized and resulting from the sale of a business component, which is recognized at the date of sale. A gain (loss) reflects the amount by which the consideration received exceeds (is exceeded by) the net carrying amount (reflecting previous provisions for loss on disposal, if any) of the disposal group.

Overall income (loss) from a disposal group that is classified as a component of the entity, before income tax, reported as a separate component of income before extraordinary items. Includes the following (before income tax): income (loss) from operations during the phase-out period, gain (loss) on disposal, provision (or any reversals of earlier provisions) for loss on disposal, and adjustments of a prior period gain (loss) on disposal.

Financial Instruments Subject to Mandatory Redemption by Settlement Terms [Line Items]

Acquisitions - Additional Information (Detail) $ in Millions, $ in Millions	1 Months Ended					3 Months Ended		6 Months Ended
	Jun. 13, 2011	Apr. 29, 2011 USD ($) Room	Apr. 26, 2011 USD ($)	Feb. 22, 2011 USD ($) Room	Feb. 18, 2011 Location	Jun. 17, 2011 USD ($) Room Location	Mar. 25, 2011 USD ($) Room Location	Jun. 17, 2011 USD ($) sqft Room	Apr. 29, 2011 AUD ($) Room
Business Acquisition, Contingent Consideration [Line Items]
Number of hotels acquired \| Location						1
Acquisition-related expenses						$ 1.0		$ 4.0
Pro-forma - total revenues						55.0		56.0
Pro-forma - net income						$ 4.0		$ 4.0
Draw on credit facility			$ 50.0
Hilton Melbourne South Wharf
Business Acquisition, Contingent Consideration [Line Items]
Business acquisition date		Apr. 29, 2011
Business acquisition description		On April 29, 2011, we acquired a 75% common voting interest and a preferred interest in Plenary Holdings No. 4 Pty Ltd, the joint venture that indirectly owns the 364-room Hilton Melbourne South Wharf, Australia.
Common voting interest acquired		75.00%							75.00%
Number of rooms \| Room		364							364
Voting interest retained by third party		25.00%							25.00%
Acquisition purchase price		$ 152.0							$ 142
Existing mortgage loan acquired		86.0							80
Draw on credit facility		$ 50.0
Agreement description		We are entitled to receive a cumulative priority return of 12% based on our initial investment of AUD 45 million ($48 million) plus 75% of the distributable cash after our partner’s subordinated preferred interest.
Cumulative priority return on initial investment		12.00%
Initial investment		$ 48.0							$ 45
Percentage of proceeds after preferred interests		75.00%							75.00%
New York Helmsley Hotel
Business Acquisition, Contingent Consideration [Line Items]
Number of rooms \| Room							775
Acquisition purchase price							$ 313.5
Manchester Grand Hyatt San Diego
Business Acquisition, Contingent Consideration [Line Items]
Number of rooms \| Room							1,625
Acquisition purchase price							$ 572.0
Grand Hyatt Washington, DC \| Subsequent Event
Business Acquisition, Contingent Consideration [Line Items]
Subsequent event date								Jul. 14, 2011
Business acquisition description								The Grand Hyatt, which includes over 43,000 square feet of meeting space, is centrally located in the nation’s capital. The transaction is expected to be completed in September and is subject to customary closing conditions.
Purchase agreement								On July 14, 2011, the Company reached an agreement to acquire the 888-room Grand Hyatt Washington, D.C. for $442 million, which may include the assumption of a $166 million mortgage loan.
Number of rooms \| Room						888		888
Acquisition purchase price						$ 442.0		$ 442.0
Existing mortgage loan that may be assumed						$ 166.0		$ 166.0
Grand Hyatt Washington, DC \| Subsequent Event \| Lower Limit
Business Acquisition, Contingent Consideration [Line Items]
Square footage of meeting space which is located in the center of the nation's capital \| sqft								43,000
New Zealand
Business Acquisition, Contingent Consideration [Line Items]
Number of hotels acquired \| Location					7		7
Number of rooms \| Room							1,207
Acquisition purchase price							$ 145.0
New Zealand \| Loss from Catastrophes
Business Acquisition, Contingent Consideration [Line Items]
Description of loss due to earthquake				On February 22, 2011, Christchurch, New Zealand experienced an earthquake that resulted in substantial damage to two of the acquired hotels, Hotel Novotel Christchurch Cathedral Square and the Hotel ibis Christchurch. Currently, the hotels remain closed and largely inaccessible, as the New Zealand Ministry of Civil Defense and Emergency Management has restricted access to the area.
Estimate of maximum insurance deductible amount for property loss				$ 3.0
New Zealand \| Hotel Novotel Christchurch Cathedral Square \| Loss from Catastrophes
Business Acquisition, Contingent Consideration [Line Items]
Description of loss due to earthquake	The city experienced a second significant earthquake on June 13, 2011. While information about additional damage is limited, we do not believe it was significant and have not accrued any additional losses.			The historic portion (39 rooms) of the Novotel property, have experienced significant damage.
Number of rooms \| Room				39
New Zealand \| Hotel Novotel Christchurch Cathedral Square and Hotel ibis Christchurch \| Loss from Catastrophes
Business Acquisition, Contingent Consideration [Line Items]
Description of loss due to earthquake	The city experienced a second significant earthquake on June 13, 2011. While information about additional damage is limited, we do not believe it was significant and have not accrued any additional losses.			The properties are expected to remain closed until at least the second quarter of 2012 and potentially longer.

Estimated Fair Value of the Assets Acquired and Liabilities Assumed in Acquisitions (Detail) $ in Millions	Jun. 17, 2011 USD ($)
Business Acquisition [Line Items]
Property and equipment	$ 1,164
Restricted cash, FF&E reserves and other assets	19
Total assets	1,183
Mortgage debt	86
Other liabilities	6
Total net assets acquired	$ 1,091

Summary of Unaudited Consolidated Pro Forma Results of Operations (Detail) $ / shares in Units, $ in Millions	3 Months Ended		6 Months Ended
	Jun. 17, 2011 USD ($) $ / shares $ / PartnershipUnit	Jun. 18, 2010 USD ($) $ / shares $ / PartnershipUnit	Jun. 17, 2011 USD ($) $ / shares $ / PartnershipUnit	Jun. 18, 2010 USD ($) $ / shares $ / PartnershipUnit
Business Acquisition, Pro Forma Information [Line Items]
Revenues \| $	$ 1,311	$ 1,174	$ 2,255	$ 2,032
Income (loss) from continuing operations \| $	69	22	17	(61)
Net income (loss) \| $	66	22	13	(63)
HOST HOTELS & RESORTS, INC.
Business Acquisition, Pro Forma Information [Line Items]
Net income (loss) available to common shareholders \| $	$ 64	$ 15	$ 11	$ (72)
Basic earnings (loss) per common share:
Continuing operations \| $ / shares	$ 0.10	$ 0.02	$ 0.03	$ (0.11)
Discontinued operations \| $ / shares	(0.01)		(0.01)
Basic earnings (loss) per common share \| $ / shares	0.09	0.02	0.02	(0.11)
Diluted earnings (loss) per common share:
Continuing operations \| $ / shares	0.10	0.02	0.03	(0.11)
Discontinued operations \| $ / shares	(0.01)		(0.01)
Diluted earnings (loss) per common share \| $ / shares	$ 0.09	$ 0.02	$ 0.02	$ (0.11)
HOST HOTELS & RESORTS L.P.
Diluted earnings (loss) per common share:
Net income (loss) available to common unitholders \| $	$ 65	$ 15	$ 11	$ (73)
Basic earnings (loss) per common unit:
Continuing operations \| $ / PartnershipUnit	0.10	0.02	0.03	(0.11)
Discontinued operations \| $ / PartnershipUnit	(0.01)		(0.01)
Basic earnings (loss) per common unit \| $ / PartnershipUnit	0.09	0.02	0.02	(0.11)
Diluted earnings (loss) per common unit:
Continuing operations \| $ / PartnershipUnit	0.10	0.02	0.03	(0.11)
Discontinued operations \| $ / PartnershipUnit	(0.01)		(0.01)
Diluted earnings (loss) per common unit \| $ / PartnershipUnit	0.09	0.02	0.02	(0.11)

Fair Value of Financial Assets and Liabilities (Detail) - Fair Value Measurements on a Recurring Basis - USD ($) $ in Millions	Jun. 17, 2011	Dec. 31, 2010
Interest rate swap derivatives
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value	$ 9.1	$ 10.6
Foreign currency forward purchase contracts
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value	1.3	6.9
Significant Other Observable Inputs (Level 2) \| Interest rate swap derivatives
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value	9.1	10.6
Significant Other Observable Inputs (Level 2) \| Foreign currency forward purchase contracts
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value	$ 1.3	$ 6.9

Fair Value Measurements - Additional Information (Detail) € in Millions, $ in Millions, $ in Millions, $ in Millions	1 Months Ended		3 Months Ended		6 Months Ended
	Apr. 29, 2011 USD ($)	Feb. 18, 2011 USD ($) Location	Jun. 17, 2011 USD ($) Location Contract	Mar. 25, 2011 Location	Jun. 17, 2011 USD ($) Contract	Jun. 17, 2011 EUR (€)	Jun. 17, 2011 EUR (€) Contract	Apr. 29, 2011 AUD ($)	Feb. 18, 2011 NZD ($)	Dec. 31, 2010 USD ($)
Fair Value, Measurement Inputs, Disclosure [Line Items]
Number of hotels acquired \| Location			1
Foreign currency forward purchase contracts
Fair Value, Measurement Inputs, Disclosure [Line Items]
Transaction Amount					$ 114.0	€ 80
Foreign currency forward purchase contracts \| Contract			4		4		4
Subsequent Event \| Foreign currency forward purchase contracts \| Group 5
Fair Value, Measurement Inputs, Disclosure [Line Items]
Subsequent event date					Jul. 15, 2011	Jul. 15, 2011
Transaction Date					Jul. 15, 2011	Jul. 15, 2011
Transaction Amount					$ 34.0	€ 25
Derivative expiration					Aug. 18, 2015	Aug. 18, 2015
Amount of cash that will be received on settlement date					$ 0.4
Settlement date					Aug. 18, 2011	Aug. 18, 2011
Hedged amount of our net investment in the European joint venture			$ 105.0		$ 105.0		€ 75
Subsequent Event \| Foreign currency forward purchase contracts \| Group 5 \| Gain (Loss) on Settlement of Derivative Instrument
Fair Value, Measurement Inputs, Disclosure [Line Items]
Transaction Amount \| €						€ 30
Subsequent Event \| Foreign currency forward purchase contracts \| Group 6
Fair Value, Measurement Inputs, Disclosure [Line Items]
Subsequent event date					Jul. 15, 2011	Jul. 15, 2011
Transaction Date					Jul. 15, 2011	Jul. 15, 2011
Transaction Amount					$ 35.0	€ 25
Fair Value Hedging \| Interest rate swap derivatives
Fair Value, Measurement Inputs, Disclosure [Line Items]
Number of interest rate agreements, fair value hedges \| Contract			3		3		3
Interest rate notional amount, fair value hedges			$ 300.0		$ 300.0
Fair value of derivative asset, fair value hedges			12.7		12.7					$ 10.6
Australia
Fair Value, Measurement Inputs, Disclosure [Line Items]
Fair value of derivative liability			1.8		1.8
Australia \| Hilton Melbourne South Wharf
Fair Value, Measurement Inputs, Disclosure [Line Items]
Mortgage debt assumed in connection with acquisition	$ 86.0							$ 80
Derivative fixed interest rate	7.52%							7.52%
Australia \| Interest rate swap derivatives \| Hilton Melbourne South Wharf
Fair Value, Measurement Inputs, Disclosure [Line Items]
Derivative fixed interest rate	7.52%							7.52%
Derivative expiration	Mar. 19, 2012
New Zealand
Fair Value, Measurement Inputs, Disclosure [Line Items]
Number of hotels acquired \| Location		7		7
New Zealand \| Interest rate swap derivatives
Fair Value, Measurement Inputs, Disclosure [Line Items]
Fair value of derivative liability, cash flow hedge			$ 1.8		$ 1.8
New Zealand \| Cash Flow Hedging \| Interest rate swap derivatives
Fair Value, Measurement Inputs, Disclosure [Line Items]
Interest rate risk exposure		Floating rate equal to the 3-month NZD Bank Bill rate.
Derivative fixed interest rate		4.75%							4.75%
Interest rate swap, payments type		Fixed rate of 4.75%
Derivative expiration		Feb. 18, 2016
Interest rate notional amount, cash flow hedges		$ 60.0							$ 79

Foreign Currency Forwards Purchase Contracts (Detail) - Foreign currency forward purchase contracts € in Millions, $ in Millions	6 Months Ended
	Jun. 17, 2011 USD ($)	Jun. 17, 2011 EUR (€)	Jun. 18, 2010 USD ($)	Dec. 31, 2010 USD ($)
Derivative [Line Items]
Transaction Amount	$ 114.0	€ 80
Fair Value	1.3			$ 6.9
Change in Fair Value	$ (5.6)		$ 10.5
Group 1
Derivative [Line Items]
Transaction Date	Feb. 29, 2008	Feb. 29, 2008
Transaction Amount	$ 43.0	€ 30
Forward Purchase Date	Aug. 31, 2011	Aug. 31, 2011
Fair Value				2.8
Change in Fair Value	$ (2.8)		5.5
Group 2
Derivative [Line Items]
Transaction Date	Feb. 29, 2008	Feb. 29, 2008
Transaction Amount	$ 22.0	€ 15
Forward Purchase Date	Feb. 28, 2013	Feb. 28, 2013
Fair Value	$ 1.2			2.2
Change in Fair Value	$ (1.0)		2.4
Group 3
Derivative [Line Items]
Transaction Date	May 31, 2008	May 31, 2008
Transaction Amount	$ 23.0	€ 15
Forward Purchase Date	May 31, 2014	May 31, 2014
Fair Value	$ 2.2			2.9
Change in Fair Value	$ (0.7)		$ 2.6
Group 4
Derivative [Line Items]
Transaction Date	Jul. 31, 2010	Jul. 31, 2010
Transaction Amount	$ 26.0	€ 20
Forward Purchase Date	Oct. 31, 2014	Oct. 31, 2014
Fair Value	$ (2.1)			$ (1.0)
Change in Fair Value	$ (1.1)

Carrying Amount and Fair Value of Certain Financial Assets and Liabilities (Detail) - USD ($) $ in Millions	Jun. 17, 2011	Dec. 31, 2010
Carrying (Reported) Amount, Fair Value Disclosure
Financial assets
Mortgage notes receivable	$ 64	$ 55
Financial liabilities
Senior notes	3,340	3,093
Exchangeable Senior Debentures	1,170	1,156
Credit facility	162	58
Mortgage debt and other, net of capital leases	1,153	1,110
Portion at Fair Value, Fair Value Disclosure
Financial assets
Mortgage notes receivable	86	77
Financial liabilities
Senior notes	3,467	3,200
Exchangeable Senior Debentures	1,398	1,471
Credit facility	162	58
Mortgage debt and other, net of capital leases	$ 1,180	$ 1,107

Non-controlling Interests - Additional Information (Detail) $ in Millions	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 17, 2011 USD ($) shares Year Entity	Jun. 18, 2010 USD ($)	Jun. 17, 2011 USD ($) shares Year Entity	Jun. 18, 2010 USD ($)	Dec. 31, 2010 USD ($) shares
HOST HOTELS & RESORTS, INC.
Noncontrolling Interest [Line Items]
Number of majority-owned partnerships that have third-party, non-controlling ownership interests that have been consolidated \| Entity	5		5
Number of majority-owned partnerships that have third-party, non-controlling ownership interests with finite lives \| Entity	3		3
Non-controlling interests in outside partnerships	$ 40		$ 40		$ 29
Net (income) loss attributable to non-controlling interests	2	$ 1	2	$ 1
Amounts attributable to outside partners of Host LP	1			(1)
HOST HOTELS & RESORTS, INC. \| Estimate of Fair Value, Fair Value Disclosure
Noncontrolling Interest [Line Items]
Non-controlling interests in outside partnerships	$ 66		$ 66		$ 65
HOST HOTELS & RESORTS, INC. \| Lower Limit
Noncontrolling Interest [Line Items]
Majority-owned partnerships with manditorily redeemable non-controlling interests, finite life (years) \| Year	99		99
Majority-owned partnerships with manditorily redeemable non-controlling interests, termination year	2081		2081
HOST HOTELS & RESORTS, INC. \| Upper Limit
Noncontrolling Interest [Line Items]
Majority-owned partnerships with manditorily redeemable non-controlling interests, finite life (years) \| Year	100		100
Majority-owned partnerships with manditorily redeemable non-controlling interests, termination year	2095		2095
HOST HOTELS & RESORTS L.P.
Noncontrolling Interest [Line Items]
Net (income) loss attributable to non-controlling interests	$ 1	$ 1	$ 2	$ 2
OP units conversion basis					One OP unit may now be exchanged into 1.021494 shares of Host Inc. common stock
Shares issuable upon conversion of one OP unit \| shares	1.021494		1.021494		1.021494

Historical Cost and Redemption Values for Non-Controlling Interests (Detail) - HOST HOTELS & RESORTS L.P. - USD ($)
$ / shares in Units, $ in Millions

Jun. 17, 2011

Dec. 31, 2010

OP units outstanding (millions)

10,600,000

10,500,000

Market price per Host Inc. common share

$ 16.09

$ 17.87

Shares issuable upon conversion of one OP unit

1.021494

Redemption value (millions)

$ 174

$ 191

Historical cost (millions)

104

101

Book value (millions)

^[1]

$ 174

$ 191

[1]	The book value recorded is equal to the greater of the redemption value or the historical cost.

The carrying value (book value) of an entity's issued and outstanding stock which is not included within permanent equity in Stockholders Equity. Temporary equity is a security with redemption features that are outside the control of the issuer, is not classified as an asset or liability in conformity with GAAP, and is not mandatorily redeemable. Includes any type of security that is redeemable at a fixed or determinable price or on a fixed or determinable date or dates, is redeemable at the option of the holder, or has conditions for redemption which are not solely within the control of the issuer. If convertible, the issuer does not control the actions or events necessary to issue the maximum number of shares that could be required to be delivered under the conversion option if the holder exercises the option to convert the stock to another class of equity. If the security is a warrant or a rights issue, the warrant or rights issue is considered to be temporary equity if the issuer cannot demonstrate that it would be able to deliver upon the exercise of the option by the holder in all cases. Includes stock with a put option held by an ESOP and stock redeemable by a holder only in the event of a change in control of the issuer.

Condensed Financial Statements, Captions [Line Items]

Legal Proceedings - Additional Information (Detail)	Jun. 17, 2011 USD ($)
Upper Limit
Commitments and Contingencies Disclosure [Line Items]
Individual hotel-level claims that may be settled without our consent	$ 150,000
San Antonio Marriott Rivercenter
Commitments and Contingencies Disclosure [Line Items]
Loss contingency accrual	48,000,000
Pending or Threatened Litigation
Commitments and Contingencies Disclosure [Line Items]
Loss contingency accrual	6,000,000
Aggregate losses on legal proceedings, high estimate	$ 8,000,000

Supplemental Guarantor and Non-Guarantor Subsidiary Information - Additional Information (Detail)	Jun. 17, 2011 Location
HOST HOTELS & RESORTS L.P. \| Non-Guarantor Subsidiaries \| Full Service
Condensed Financial Statements, Captions [Line Items]
Number of hotels	40

Supplemental Condensed Consolidating Balance Sheets (Detail) - USD ($)
$ in Millions

Jun. 17, 2011

Dec. 31, 2010

Jun. 18, 2010

Dec. 31, 2009

$ 11,635

$ 10,514

Condensed Financial Statements, Captions [Line Items]

11,635

10,514

178

148

172

152

330

353

634

1,113

$ 1,171

$ 1,642

13,102

12,410

5,888

5,477

387

411

Limited partnership interests of third parties

6,275

5,888

^[1]

174

191

6,613

6,302

Non-controlling interests - consolidated partnerships

13,062

12,381

Total liabilities, non-controlling interests and equity

13,102

12,410

HOST HOTELS & RESORTS L.P. | Company Parent Member

Condensed Financial Statements, Captions [Line Items]

652

675

(18)

(22)

6,966

6,566

532

319

494

733

8,758

8,405

1,872

1,785

127

Limited partnership interests of third parties

1,971

1,912

174

191

6,613

6,302

Total liabilities, non-controlling interests and equity

8,758

8,405

8,758

8,405

HOST HOTELS & RESORTS L.P. | Guarantor Subsidiaries

Condensed Financial Statements, Captions [Line Items]

5,594

5,227

1,494

1,547

Rent receivable

138

124

7,308

6,989

2,981

2,766

195

166

3,176

2,932

4,132

4,057

Total liabilities, non-controlling interests and equity

7,308

6,989

7,308

6,989

HOST HOTELS & RESORTS L.P. | Non-Guarantor Subsidiaries

Condensed Financial Statements, Captions [Line Items]

5,389

4,612

274

325

129

350

5,998

5,447

1,338

1,178

Rent payable

411

281

1,785

1,488

4,173

3,930

Non-controlling interests - consolidated partnerships

5,958

5,418

Total liabilities, non-controlling interests and equity

5,998

5,447

HOST HOTELS & RESORTS L.P. | Consolidation, Eliminations

Condensed Financial Statements, Captions [Line Items]

(7)

(8,305)

(7,987)

Rent receivable

(36)

(29)

(614)

(415)

(8,962)

(8,431)

(303)

(252)

Rent payable

(36)

(29)

(318)

(163)

(657)

(444)

(8,305)

(7,987)