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Deferred financing costs, net

415

347

Furniture, fixtures and equipment replacement fund

173

154

Cash and cash equivalents

244

319

Restricted cash

861

417

Total assets

12,814

12,994

Debt

Senior notes, including $371 million and $531 million, respectively, net of discount, of Exchangeable Senior Debentures

3,018

3,569

Credit facility

946

763

Mortgage debt

709

993

Accounts payable and accrued expenses

Total debt

4,759

5,411

214

194

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

389

372

Total liabilities

5,362

5,977

190

158

Host Hotels & Resorts, Inc. stockholders’ equity:

Common stock, par value $.01, 1,050 million shares authorized; 754.8 million and 724.6 million shares issued and outstanding, respectively

Additional paid-in capital

8,492

8,040

Total equity of Host Hotels & Resorts, Inc. stockholders

(9)

Deficit

(1,263)

(1,234)

7,228

6,825

Non-controlling interests—other consolidated partnerships

Total equity

7,262

6,859

Total liabilities, non-controlling interests and equity

12,814

12,994

Host Hotels & Resorts, L.P. capital:

(9)

Property and equipment, net

ASSETS

10,995

11,588

Due from managers

Deferred financing costs, net

415

347

Furniture, fixtures and equipment replacement fund

173

154

Cash and cash equivalents

244

319

Restricted cash

861

417

Total assets

12,814

12,994

Debt

Senior notes, including $371 million and $531 million, respectively, net of discount, of Exchangeable Senior Debentures

3,018

3,569

Credit facility

946

763

Mortgage debt

709

993

Accounts payable and accrued expenses

Total debt

4,759

5,411

214

194

Host Hotels & Resorts, Inc. stockholders’ equity:

389

372

Total liabilities

5,362

5,977

Total liabilities, non-controlling interests and equity

(9)

12,814

12,994

Limited partnership interests of third parties

^[1]

190

158

Host Hotels & Resorts, L.P. capital:

General partner

Limited partner

7,236

6,812

Total Host Hotels & Resorts, L.P. capital

(9)

7,228

6,825

Non-controlling interests—consolidated partnerships

Total capital

$ 7,262

$ 6,859

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

Consolidated Balance Sheets (Parenthetical) - USD ($) shares in Millions, $ in Millions	Dec. 31, 2013	Dec. 31, 2012
Senior notes	$ 371	$ 531
Credit facility	$ 946	$ 763
Common stock, par value	$ 0.01	$ 0.01
Common stock, shares authorized	1,050.0	1,050.0
Common stock, shares issued	754.8	724.6
Common stock, shares outstanding	754.8	724.6
Term Loan
Credit facility	$ 500	$ 500
HOST HOTELS & RESORTS L.P. AND SUBSIDIARIES
Senior notes	371	531
Credit facility	946	763
HOST HOTELS & RESORTS L.P. AND SUBSIDIARIES \| Term Loan
Credit facility	$ 500	$ 500

The carrying value as of the balance sheet date of the current and noncurrent portions of long-term obligations drawn from a line of credit, which is a bank's commitment to make loans up to a specific amount. Examples of items that might be included in the application of this element may consist of letters of credit, standby letters of credit, and revolving credit arrangements, under which borrowings can be made up to a maximum amount as of any point in time conditional on satisfaction of specified terms before, as of and after the date of drawdowns on the line. Includes short-term obligations that would normally be classified as current liabilities but for which (a) postbalance sheet date issuance of a long term obligation to refinance the short term obligation on a long term basis, or (b) the enterprise has entered into a financing agreement that clearly permits the enterprise to refinance the short-term obligation on a long term basis and the following conditions are met (1) the agreement does not expire within 1 year and is not cancelable by the lender except for violation of an objectively determinable provision, (2) no violation exists at the BS date, and (3) the lender has entered into the financing agreement is expected to be financially capable of honoring the agreement.

Consolidated Statements Of Operations - USD ($)
$ in Millions

12 Months Ended

Dec. 31, 2013

Dec. 31, 2012

Dec. 31, 2011

REVENUES

$ 3,317

$ 3,082

$ 2,849

1,503

1,419

1,336

295

287

279

Owned hotel revenues

5,115

4,788

4,464

Other revenues

271

250

Total revenues

5,166

5,059

4,714

EXPENSES

894

836

780

Other departmental and support expenses

1,095

1,049

993

1,249

1,219

1,179

Management fees

222

199

181

Other property-level expenses

376

576

554

Corporate and other expenses

697

722

609

121

107

111

Gain on insurance settlements

(11)

(2)

Total operating costs and expenses

4,654

4,697

4,405

OPERATING PROFIT

512

362

309

Interest income

Interest expense

^[1]

(304)

(373)

(371)

Gain (loss) on foreign currency transactions and derivatives

(4)

Equity in earnings (losses) of affiliates

(17)

INCOME (LOSS) BEFORE INCOME TAXES

231

(28)

Benefit (provision) for income taxes

(21)

(31)

INCOME (LOSS) FROM CONTINUING OPERATIONS

210

(8)

(27)

115

Less: Net (income) loss attributable to non-controlling interests

325

(16)

(8)

(2)

NET INCOME (LOSS) ATTRIBUTABLE TO REPORTING ENTITY

$ 317

$ 61

$ (15)

$ 0.27

$ (0.01)

$ (0.04)

0.16

0.09

0.02

0.43

0.08

(0.02)

0.27

(0.01)

(0.04)

0.15

0.09

0.02

$ 0.42

$ 0.08

$ (0.02)

REVENUES

$ 3,317

$ 3,082

$ 2,849

1,503

1,419

1,336

295

287

279

Owned hotel revenues

5,115

4,788

4,464

Other revenues

271

250

Total revenues

5,166

5,059

4,714

EXPENSES

894

836

780

Other departmental and support expenses

1,095

1,049

993

1,249

1,219

1,179

Management fees

222

199

181

Other property-level expenses

376

576

554

Corporate and other expenses

697

722

609

121

107

111

Gain on insurance settlements

(11)

(2)

Total operating costs and expenses

4,654

4,697

4,405

OPERATING PROFIT

512

362

309

Interest income

Interest expense

(304)

(373)

(371)

Gain (loss) on foreign currency transactions and derivatives

(4)

Equity in earnings (losses) of affiliates

(17)

INCOME (LOSS) BEFORE INCOME TAXES

231

(28)

Benefit (provision) for income taxes

(21)

(31)

INCOME (LOSS) FROM CONTINUING OPERATIONS

210

(8)

(27)

115

Less: Net (income) loss attributable to non-controlling interests

325

(16)

(4)

(1)

NET INCOME (LOSS) ATTRIBUTABLE TO REPORTING ENTITY

$ 321

$ 62

$ (15)

$ 0.28

$ (0.01)

$ (0.04)

0.15

0.10

0.02

0.43

0.09

(0.02)

0.28

(0.01)

(0.04)

0.15

0.10

0.02

$ 0.43

$ 0.09

$ (0.02)

[1]	Interest expense and interest paid for 2013, 2012 and 2011 includes cash prepayment premiums of approximately $23 million, $21 million and $5 million, respectively.

Consolidated Statements Of Comprehensive Income (Loss) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011
NET INCOME (LOSS)	$ 325	$ 63	$ (16)
OTHER COMPREHENSIVE INCOME (LOSS), NET OF TAX:
Foreign currency translation and other comprehensive income (loss) of unconsolidated affiliates	(18)	20	(27)
Change in fair value of derivative instruments	(3)	(7)	1
OTHER COMPREHENSIVE INCOME (LOSS), NET OF TAX	(21)	13	(26)
COMPREHENSIVE INCOME (LOSS)	304	76	(42)
Less: Comprehensive (income) loss attributable to non-controlling interests	(8)	(2)	1
COMPREHENSIVE INCOME (LOSS) ATTRIBUTABLE TO HOST HOTELS & RESORTS, INC.	296	74	(41)
HOST HOTELS & RESORTS L.P. AND SUBSIDIARIES
NET INCOME (LOSS)	325	63	(16)
OTHER COMPREHENSIVE INCOME (LOSS), NET OF TAX:
Foreign currency translation and other comprehensive income (loss) of unconsolidated affiliates	(18)	20	(27)
Change in fair value of derivative instruments	(3)	(7)	1
OTHER COMPREHENSIVE INCOME (LOSS), NET OF TAX	(21)	13	(26)
COMPREHENSIVE INCOME (LOSS)	304	76	(42)
Less: Comprehensive (income) loss attributable to non-controlling interests	(4)	(1)	1
COMPREHENSIVE INCOME (LOSS) ATTRIBUTABLE TO HOST HOTELS & RESORTS, INC.	$ 300	$ 75	$ (41)

Consolidated Statements of Equity - USD ($) shares in Millions, $ in Millions	Total	Common Stock	Additional Paid-in Capital	Accumulated Other Comprehensive Income (Loss)	Retained Earnings	Non-controlling Interests of Other Consolidated Partnerships	Non-controlling Interests of Host Hotels & Resorts, L.P.
Balance at Dec. 31, 2010		$ 7	$ 7,236	$ 25	$ (965)	$ 29	$ 191
Balance at Dec. 31, 2010		675.6
NET INCOME (LOSS)	$ (16)				(15)	(1)
Other changes in ownership			33				(33)
Foreign currency translation and other comprehensive income (loss) of unconsolidated affiliates				(27)
Change in fair value of derivative instruments	1			1
Common stock issuances			459
Common stock issuances (shares)		27.9
Common OP unit issuances							6
Comprehensive stock and employee stock purchase plans			17
Comprehensive stock and employee stock purchase plans (shares)		1.3
Common stock dividends					(99)
Redemptions of limited partner interests for common stock	$ 5		5				(5)
Redemptions of limited partner interests for common stock (shares)	0.3	0.3
Contributions from non- controlling interests of consolidated partnerships						12
Distributions to non-controlling interests						(4)	(1)
Balance at Dec. 31, 2011		$ 7	7,750	(1)	(1,079)	36	158
Balance at Dec. 31, 2011		705.1
NET INCOME (LOSS)	$ 63				61	1	1
Other changes in ownership			(12)				12
Foreign currency translation and other comprehensive income (loss) of unconsolidated affiliates				20
Change in fair value of derivative instruments	(7)			(7)
Common stock issuances			274			1
Common stock issuances (shares)		17.5
Comprehensive stock and employee stock purchase plans			18
Comprehensive stock and employee stock purchase plans (shares)		1.4
Common stock dividends					(216)
Redemptions of limited partner interests for common stock	$ 10		10				(10)
Redemptions of limited partner interests for common stock (shares)	0.6	0.6
Distributions to non-controlling interests						(4)	(3)
Balance at Dec. 31, 2012	$ 6,859	$ 7	8,040	12	(1,234)	34	158
Balance at Dec. 31, 2012		724.6
NET INCOME (LOSS)	325				317	4	4
Other changes in ownership			(38)			(3)	38
Foreign currency translation and other comprehensive income (loss) of unconsolidated affiliates				(18)
Change in fair value of derivative instruments	(3)			(3)
Common stock issuances		$ 1	476
Common stock issuances (shares)		28.7
Comprehensive stock and employee stock purchase plans			8
Comprehensive stock and employee stock purchase plans (shares)		1.2
Common stock dividends					(346)
Redemptions of limited partner interests for common stock	$ 6		6				(6)
Redemptions of limited partner interests for common stock (shares)	0.3	0.3
Contributions from non- controlling interests of consolidated partnerships						7
Distributions to non-controlling interests						(8)	(4)
Balance at Dec. 31, 2013	$ 7,262	$ 8	$ 8,492	$ (9)	$ (1,263)	$ 34	$ 190
Balance at Dec. 31, 2013		754.8

Consolidated Statements of Cash Flows - USD ($)
$ in Millions

12 Months Ended

Dec. 31, 2013

Dec. 31, 2012

Dec. 31, 2011

OPERATING ACTIVITIES

$ 325

$ 63

$ (16)

Discontinued operations:

Gain on dispositions

(97)

(48)

Depreciation

Amortization of finance costs, discounts and premiums, net

697

722

609

Non-cash loss on extinguishment of debt

^[1]

Stock compensation expense

Deferred income taxes

(11)

(Gain) loss on foreign currency transactions and derivatives

(33)

(13)

(7)

(3)

Gain on property insurance settlement

(2)

Equity in (earnings) losses of affiliates

(2)

(4)

Change in due from managers

(42)

Changes in other assets

(8)

Changes in other liabilities

(19)

Cash provided by operating activities

1,019

781

662

INVESTING ACTIVITIES

Proceeds from sales of assets, net

643

160

Acquisitions

(166)

(441)

(1,047)

Deferred sale proceeds received from HPT

Return on mortgage loan investment

(74)

(132)

(49)

Return on investment

Capital expenditures:

Renewals and replacements

(303)

(366)

(327)

Redevelopment and acquisition-related investments

(133)

(272)

(215)

New development

(19)

(6)

Change in furniture, fixtures and equipment ("FF&E") replacement fund

(23)

Property insurance proceeds

Cash used in investing activities

(75)

(886)

(1,576)

FINANCING ACTIVITIES

Financing costs

(4)

(18)

(23)

Issuances of debt

550

900

955

Draws on credit facility

393

231

153

Term loan issuance

500

Repayment on credit facility

(207)

(89)

(90)

Repurchase/redemption of senior notes

(801)

(1,795)

(404)

Mortgage debt prepayments and scheduled maturities

(411)

(113)

(210)

Scheduled principal repayments

(2)

(5)

Issuance of common stock

303

274

323

Dividends on common stock

(313)

(187)

(70)

Contributions from non-controlling interests

Distributions to non-controlling interests

(12)

(7)

(5)

Change in restricted cash for financing activities

Cash provided by (used in) financing activities

(493)

(305)

628

Effects of exchange rate changes on cash held

(7)

(1)

INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS

444

(409)

(287)

CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD

417

826

1,113

CASH AND CASH EQUIVALENTS, END OF PERIOD

861

417

826

OPERATING ACTIVITIES

325

(16)

Discontinued operations:

Gain on dispositions

(97)

(48)

Depreciation

Amortization of finance costs, discounts and premiums, net

697

722

609

Non-cash loss on extinguishment of debt

Stock compensation expense

Deferred income taxes

(11)

(Gain) loss on foreign currency transactions and derivatives

(33)

(13)

(7)

(3)

Gain on property insurance settlement

(2)

Equity in (earnings) losses of affiliates

(2)

(4)

Change in due from managers

(42)

Changes in other assets

(8)

Changes in other liabilities

(19)

Cash provided by operating activities

1,019

781

662

INVESTING ACTIVITIES

Proceeds from sales of assets, net

643

160

Acquisitions

(166)

(441)

(1,047)

Deferred sale proceeds received from HPT

Return on mortgage loan investment

(74)

(132)

(49)

Return on investment

Capital expenditures:

Renewals and replacements

(303)

(366)

(327)

Redevelopment and acquisition-related investments

(133)

(272)

(215)

New development

(19)

(6)

Change in furniture, fixtures and equipment ("FF&E") replacement fund

(23)

Property insurance proceeds

Cash used in investing activities

(75)

(886)

(1,576)

FINANCING ACTIVITIES

Financing costs

(4)

(18)

(23)

Issuances of debt

550

900

955

Draws on credit facility

393

231

153

Term loan issuance

500

Repayment on credit facility

(207)

(89)

(90)

Repurchase/redemption of senior notes

(801)

(1,795)

(404)

Mortgage debt prepayments and scheduled maturities

(411)

(113)

(210)

Scheduled principal repayments

(2)

(5)

Contributions from non-controlling interests

Distributions to non-controlling interests

(8)

(4)

Change in restricted cash for financing activities

Cash provided by (used in) financing activities

(493)

(305)

628

Issuance of common OP units

303

274

323

Distributions on common OP units

(317)

(190)

(71)

Effects of exchange rate changes on cash held

(7)

(1)

INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS

444

(409)

(287)

CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD

417

826

1,113

CASH AND CASH EQUIVALENTS, END OF PERIOD

$ 861

$ 417

$ 826

[1]	Interest expense and interest paid for 2013, 2012 and 2011 includes cash prepayment premiums of approximately $23 million, $21 million and $5 million, respectively.

Consolidated Statements Of Capital - USD ($) shares in Millions, $ in Millions	12 Months Ended
	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011
NET INCOME (LOSS)	$ 325	$ 63	$ (16)
Change in fair value of derivative instruments	(3)	(7)	1
Redemptions of limited partnership interests of third parties	$ 6	$ 10	$ 5
Redemptions of limited partner interests for common stock (shares)	0.3	0.6	0.3
HOST HOTELS & RESORTS L.P. AND SUBSIDIARIES
Beginning Balance	$ 6,859
NET INCOME (LOSS)	325	$ 63	$ (16)
Change in fair value of derivative instruments	(3)	(7)	1
Redemptions of limited partnership interests of third parties	$ 6	$ 10	$ 5
Redemptions of limited partner interests for common stock (shares)	0.3	0.6	0.3
Ending Balance	$ 7,262	$ 6,859
HOST HOTELS & RESORTS L.P. AND SUBSIDIARIES \| General Partner
Beginning Balance	$ 1	$ 1	$ 1
Beginning Balance	709.4	690.3	661.4
Change in fair value of derivative instruments
Common OP unit issuances
Common OP unit issuances (units)	28.1	17.1	27.3
Units issued to Host Inc. for the comprehensive stock and employee stock purchase plans
Units issued to Host Inc. for the comprehensive stock and employee stock purchase plans (units)	1.1	1.4	1.3
Distributions on common OP units
Redemptions of limited partnership interests of third parties
Redemptions of limited partner interests for common stock (shares)	0.3	0.6	0.3
Distributions to non-controlling interests
Ending Balance	$ 1	$ 1	$ 1
Ending Balance	738.9	709.4	690.3
Distributions to non-controlling interests
HOST HOTELS & RESORTS L.P. AND SUBSIDIARIES \| Limited Partner
Beginning Balance	6,812	$ 6,677	$ 6,276
NET INCOME (LOSS)	317	61	(15)
Other changes in ownership	(38)	(12)	33
Common OP unit issuances	478	274	460
Units issued to Host Inc. for the comprehensive stock and employee stock purchase plans	7	18	17
Distributions on common OP units	(346)	(216)	(99)
Redemptions of limited partnership interests of third parties	6	10	5
Distributions to non-controlling interests
Ending Balance	7,236	6,812	6,677
Distributions to non-controlling interests
HOST HOTELS & RESORTS L.P. AND SUBSIDIARIES \| Accumulated Other Comprehensive Income (Loss)
Beginning Balance	12	(1)	25
Foreign currency translation and other comprehensive income (loss) of unconsolidated affiliates	(18)	20	(27)
Change in fair value of derivative instruments	(3)	(7)	1
Common OP unit issuances
Units issued to Host Inc. for the comprehensive stock and employee stock purchase plans
Distributions on common OP units
Redemptions of limited partnership interests of third parties
Distributions to non-controlling interests
Ending Balance	(9)	12	(1)
Distributions to non-controlling interests
HOST HOTELS & RESORTS L.P. AND SUBSIDIARIES \| Non-controlling Interests of Consolidated Partnerships
Beginning Balance	34	36	29
NET INCOME (LOSS)	4	1	(1)
Other changes in ownership	(3)
Change in fair value of derivative instruments
Common OP unit issuances
Units issued to Host Inc. for the comprehensive stock and employee stock purchase plans
Distributions on common OP units
Contributions from non- controlling interests of consolidated partnerships	7	1	12
Distributions to non-controlling interests	8	(4)	(4)
Ending Balance	34	34	36
Distributions to non-controlling interests	(8)	4	4
HOST HOTELS & RESORTS L.P. AND SUBSIDIARIES \| Limited Partnership Interests Of Third Parties
Beginning Balance	158	158	191
NET INCOME (LOSS)	4	1
Other changes in ownership	38	12	(33)
Change in fair value of derivative instruments
Common OP unit issuances			6
Distributions on common OP units	(4)	(3)	(1)
Redemptions of limited partnership interests of third parties	(6)	(10)	(5)
Distributions to non-controlling interests
Ending Balance	190	$ 158	$ 158
Distributions to non-controlling interests

Supplemental Schedule of Noncash Investing and Financing Activities	12 Months Ended
	Dec. 31, 2013
Supplemental Schedule of Noncash Investing and Financing Activities	Supplemental schedule of noncash investing and financing activities: During 2013, 2012 and 2011, Host Inc. issued approximately 0.3 million, 0.6 million and 0.3 million shares of common stock, respectively, upon the conversion of Host L.P. units, or OP units, held by non-controlling interests valued at $6 million, $10 million and $5 million, respectively. In March 2013, holders of approximately $174 million of the 3.25% Exchangeable Debentures elected to exchange their debentures for approximately 11.7 million shares of Host Inc. common stock. In November 2012, we contributed land with a book value of $11 million and a fair value of $36 million to a joint venture with Hyatt Residential Group to develop a vacation ownership project in Maui, Hawaii. We recorded an initial investment of $8 million related to our 67% ownership in the joint venture and a gain of $8 million related to the portion of the land attributable to Hyatt Residential Group’s 33% interest, for which we received cash of $12 million. In June 2011, holders of approximately $134 million of the 3.25% Exchangeable Debentures elected to exchange their debentures for approximately 8.8 million shares of Host Inc. common stock. On June 28, 2011, we 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. We also transferred the capital lease asset and corresponding liability associated with the building, each valued at £38 million ($61 million), to the Euro JV Fund II. We retained a 33.4% interest in the property through our general and limited partner interests in the Euro JV Fund II and received cash proceeds on the transfer of £25 million ($40 million). On April 29, 2011, we acquired a 75% controlling interest in the Hilton Melbourne South Wharf. In connection with the acquisition, we assumed A$80 million ($86 million) of mortgage debt. On March 17, 2011, we acquired the Manchester Grand Hyatt San Diego, and certain related rights. In connection with the acquisition, Host Hotels & Resorts, L.P. issued approximately 0.3 million OP units valued at approximately $6 million.
HOST HOTELS & RESORTS L.P. AND SUBSIDIARIES
Supplemental Schedule of Noncash Investing and Financing Activities	Supplemental schedule of noncash investing and financing activities: During 2013, 2012 and 2011, non-controlling partners converted common operating partnership units (“OP units”) valued at $6 million, $10 million and $5 million, respectively, in exchange for 0.3 million, 0.6 million and 0.3 million shares, respectively, of Host Inc. common stock. In March 2013, holders of approximately $174 million of the 3.25% Exchangeable Debentures elected to exchange their debentures for approximately 11.7 million shares of Host Inc. common stock. In connection with the debentures exchanged for Host Inc. common stock, Host L.P. issued 11.5 million common OP units. In November 2012, we contributed land with a book value of $11 million and a fair value of $36 million to a joint venture with Hyatt Residential Group to develop a vacation ownership project in Maui, Hawaii. We recorded an initial investment of $8 million related to our 67% ownership in the joint venture and a gain of $8 million related to the portion of the land attributable to Hyatt Residential Group’s 33% interest, for which we received cash of $12 million. In June 2011, holders of approximately $134 million of the 3.25% Exchangeable Debentures elected to exchange their debentures for approximately 8.8 million shares of Host Inc. common stock. In connection with the debentures exchanged for Host Inc. common stock, Host L.P. issued 8.6 common OP units. On June 28, 2011, we 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. We also transferred the capital lease asset and corresponding liability associated with the building, each valued at £38 million ($61 million), to the Euro JV Fund II. We retained a 33.4% interest in the property through our general and limited partner interests in the Euro JV Fund II and received cash proceeds on the transfer of £25 million ($40 million). On April 29, 2011, we acquired a 75% controlling interest in the Hilton Melbourne South Wharf. In connection with the acquisition, we assumed A$80 million ($86 million) of mortgage debt. On March 17, 2011, we acquired the Manchester Grand Hyatt San Diego, and certain related rights. In connection with the acquisition, Host Hotels & Resorts, L.P. issued approximately 0.3 million OP units valued at approximately $6 million.

Summary of Significant Accounting Policies

12 Months Ended

Dec. 31, 2013

Summary of Significant Accounting Policies

1.	Summary of Significant Accounting Policies

Description of Business

Host Hotels & Resorts, Inc. operates as a self-managed and self-administered real estate investment trust, or REIT, with its operations conducted solely through Host Hotels & Resorts, L.P. 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 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 refer specifically to Host Hotels & Resorts, Inc. and the term “Host L.P.” to refer specifically 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 98.7% of Host L.P.’s partnership interests, or OP units.

Consolidated Portfolio

As of December 31, 2013, the hotels in our consolidated portfolio are located in the following countries:

	Hotels
United States		100
Australia		1
Brazil		1
Canada		3
Chile		2
Mexico		1
New Zealand		7
Total		115

European Joint Venture

We own a non-controlling interest in a joint venture in Europe (“Euro JV”) that owns hotels in two separate funds. We own a 32.1% interest in the first fund (“Euro JV Fund I”) (11 hotels) and a 33.4% interest in the second fund (“Euro JV Fund II”) (8 hotels).

As of December 31, 2013, the Euro JV hotels are located in the following countries:

	Hotels
Belgium		3
France		4
Germany		1
Italy		3
Poland		1
Spain		2
Sweden		1
The Netherlands		2
United Kingdom		2
Total		19

Asia/Pacific Joint Venture

We have a 25% non-controlling interest in a joint venture in Asia (“Asia/Pacific JV”) that owns the 278-room Four Points by Sheraton, Perth, in Australia. The Asia/Pacific JV also has a non-controlling interest in a joint venture in India that is investing in seven hotels, two in Bangalore and five that are in various stages of development.

Basis of Presentation and Principles of Consolidation

The accompanying consolidated financial statements include the consolidated accounts of Host Inc., Host L.P. and their subsidiaries and controlled affiliates, including joint ventures and partnerships. We consolidate subsidiaries when we have the ability to direct the activities that most significantly impact the economic performance of the entity. For those partnerships and joint ventures where we are the general partner, we review the rights of the limited partners to determine if those rights would overcome the presumption of control as the general partner. Limited partner rights which would overcome presumption of control by the general partner include the substantive ability to dissolve (liquidate) the limited partnership or otherwise remove the general partners without cause and substantive participating rights over activities considered most significant to the business of the partnership or joint venture, primarily voting rights.

We also evaluate our subsidiaries to determine if they are variable interest entities (“VIEs”). Typically, the entity that has the power to direct the activities that most significantly impact economic performance would consolidate the VIE. We consider an entity a VIE if equity investors own an interest therein that does not have the characteristics of a controlling financial interest or if such investors do not have sufficient equity at risk for the entity to finance its activities without additional subordinated financial support. We review our subsidiaries at least annually to determine if (i) they should be considered VIEs, and (ii) whether we should change our consolidation determination based on changes in the characteristics of these entities.

Use of Estimates in the Preparation of Financial Statements

The preparation of financial statements in conformity with U.S. generally accepted accounting principles, or 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.

Cash and Cash Equivalents

We consider all highly liquid investments with a maturity of three months or less at the date of purchase to be cash equivalents.

Restricted Cash

Restricted cash includes reserves for debt service, real estate taxes, insurance, furniture, fixtures and equipment replacement, as well as cash collateral and excess cash flow deposits due to mortgage debt agreement restrictions and provisions, and a reserve required for potential legal damages. For purposes of the statements of cash flows, changes in restricted cash caused by changes in required legal reserves are shown as operating activities. Changes in restricted cash caused by using such funds for furniture, fixtures and equipment replacement are shown as investing activities. The remaining changes in restricted cash are the direct result of restrictions under our loan agreements and are reflected in cash flows from financing activities.

Property and Equipment

Generally, property and equipment is recorded at cost. For properties we develop, cost includes interest and real estate taxes incurred during construction. For property and equipment acquired in a business combination, we record the assets based on their fair value as of the acquisition date. Replacements and improvements and capital leases are capitalized, while repairs and maintenance are expensed as incurred. We depreciate our property and equipment using the straight-line method over the estimated useful lives of the assets. Leasehold improvements are amortized over the shorter of the lease term or the useful lives of the related assets.

We capitalize certain inventory (such as china, glass, silver, linen) at the time of a hotel opening or acquisition, or when significant inventory is purchased (in conjunction with a major rooms renovation or when the number of rooms or meeting space at a hotel is expanded). These amounts are then amortized over the estimated useful life of three years. Subsequent replacement purchases are expensed when placed in service.

We maintain a furniture, fixtures and equipment replacement fund for renewal and replacement capital expenditures at certain hotels, which generally is funded with 5% of property revenues.

We analyze our consolidated properties for impairment when events or circumstances occur that indicate the carrying value may not be recoverable. We consider a property to be impaired when the sum of the future undiscounted cash flows over our remaining estimated holding period is less than the carrying value of the asset. We test for impairment in several situations, including when a property has a current or projected loss from operations, when it becomes more likely than not that a hotel will be sold before the end of its previously estimated useful life, or when other events, trends, contingencies or changes in circumstances indicate that a triggering event has occurred and the carrying value of an asset may not be recoverable. For impaired assets, we record an impairment expense equal to the excess of the asset’s carrying value over its fair value. In the evaluation of the impairment of our assets, we make many assumptions and estimates, including assumptions of the projected cash flows, both from operations and the eventual disposition, the expected useful life and holding period of the asset, the future required capital expenditures and fair values, including consideration of capitalization rates, discount rates and comparable selling prices, as well as available third-party appraisals. During 2013 and 2012, we recognized impairment expenses of $1 million and $60 million, respectively, each on one property, which impairment expenses are included in depreciation and amortization, based on changes in estimated holding periods.

We perform a similar analysis for our equity method investments for impairment based on the occurrence of triggering events that would indicate that the carrying amount of the investment exceeds its fair value on an other-than-temporary basis. Triggering events can include a decline in distributable cash flows from the investment, a change in the expected useful life or other significant events which would decrease the value of the investment. Our investments primarily consist of joint ventures which own hotel properties; therefore, we generally will have few observable inputs and will determine fair value based on a discounted cash flow analysis of the investment, as well as consideration of the impact of other elements (i.e. control premiums, etc.). If an equity method investment is impaired and that impairment is determined to be other than temporary, an expense is recorded for the difference between the fair value and the carrying value of the investment.

We will classify a hotel as held for sale when the sale thereof is probable, will be completed within one year and actions to complete the sale unlikely are to change or that the sale will not occur. We typically classify assets as held for sale when Host Inc.’s Board of Directors has approved the sale, a binding agreement to sell the property has been signed under which the buyer has committed a significant amount of nonrefundable cash, and no significant financing contingencies exist which could prevent the transaction from being completed in a timely manner. If these criteria are met, we will cease recording depreciation and will record an impairment expense if the fair value less costs to sell is less than the carrying amount of the hotel. We will classify the impairment expense, together with the related operating results, including interest expense on debt assumed by the buyer or that is required to be repaid as a result of the sale, as discontinued operations on our consolidated statements of operations and classify the assets and related liabilities as held for sale on the balance sheet. Gains on sales of properties are recognized at the time of sale or deferred and recognized as income in subsequent periods as conditions requiring deferral are satisfied or expire without further cost to us.

We recognize the fair value of any liability for conditional asset retirement obligations, including environmental remediation liabilities, when incurred, which generally is upon acquisition, construction, or development and/or through the normal operation of the asset, if sufficient information exists with which to reasonably estimate the fair value of the obligation.

Intangible Assets and Liabilities

In conjunction with our acquisitions, we may identify intangible assets and liabilities. Identifiable intangible assets and liabilities typically include contracts, including ground and retail leases and management and franchise agreements, which are recorded at fair value. These contract values are based on the present value of the difference between contractual amounts to be paid pursuant to the contracts acquired and our estimate of the fair value of rates for corresponding contracts measured over the period equal to the remaining non-cancelable term of the contract. Intangible assets and liabilities are amortized using the straight-line method over the remaining non-cancelable term of the related agreements.

Non-Controlling Interests

Other Consolidated Partnerships. As of December 31, 2013, 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 consolidated balance sheets and totaled $34 million as of December 31, 2013 and 2012. Two of the partnerships have finite lives that terminate between 2081 and 2095, and the associated non-controlling interests are mandatorily redeemable at the end of, but not prior to, the finite life. At December 31, 2013 and 2012, the fair values of the non-controlling interests in the partnerships with finite lives were approximately $68 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). Net income (loss) attributable to non-controlling interests of third parties is $4 million, $1 million and $(1) million for the years ended December 31, 2013, 2012 and 2011, respectively.

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 its 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. We have estimated that the redemption value is equivalent to the number of shares issuable upon conversion of the OP units currently owned by unrelated third parties (one OP unit may be exchanged for 1.021494 shares of Host Inc. common stock) valued at the market price of Host Inc. common stock at the balance sheet date. 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:

	As of December 31,
	2013		2012
OP units outstanding (millions)		9.5		9.9
Market price per Host Inc. common share	$	19.44	$	15.67
Shares issuable upon conversion of one OP unit		1.021494		1.021494
Redemption value (millions)	$	190	$	158
Historical cost (millions)		95		96
Book value (millions) ⁽¹⁾		190		158

(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., which totaled $4 million, $1 million and $(0.2) million for 2013, 2012 and 2011, respectively.

Distributions from Investments in Affiliates

We classify the distributions from our equity investments in the statements of cash flows based upon an evaluation of the specific facts and circumstances of each distribution. For example, distributions from cash generated by property operations are classified as cash flows from operating activities. However, distributions received as a result of property sales are classified as cash flows from investing activities.

Income Taxes

Host Inc. has elected to be treated as a REIT effective January 1, 1999, pursuant to the U.S. Internal Revenue Code of 1986, as amended. In general, a corporation that elects REIT status and meets certain tax law requirements regarding the distribution of its taxable income to its stockholders as prescribed by applicable tax laws and complies with certain other requirements (relating primarily to the composition of its assets and the sources of its revenues) generally is not subject to federal and state income taxation on its operating income that is distributed to its stockholders. As a partnership for federal income tax purposes, Host L.P. is not subject to federal income tax. Host L.P. is, however, subject to state, local and foreign income and franchise tax in certain jurisdictions. In addition to paying federal and state income tax on any retained income, one of our subsidiary REITs is subject to a tax on “built-in gains” on sales of certain assets. Additionally, each of the Host L.P. taxable REIT subsidiaries is taxable as a regular C corporation, subject to federal, state and foreign income tax. Our consolidated income tax provision or benefit includes the income tax provision or benefit related to the operations of our taxable REIT subsidiaries, state, local, and foreign income and franchise taxes incurred by Host L.P.

Under the partnership agreement, Host L.P. generally is required to reimburse Host Inc. for any tax payments it is required to make. Accordingly, the tax information included herein represents disclosures regarding Host Inc. and its subsidiaries. Deferred tax assets and liabilities are recognized for the estimated future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases, and for net operating loss, capital loss, and tax credit carryovers. Deferred tax assets and liabilities are measured using enacted tax rates in effect for the year in which such amounts are expected to be realized or settled. The effect on deferred tax assets and liabilities from a change in tax rates is recognized in earnings in the period when the new rate is enacted. However, deferred tax assets are recognized only to the extent that it is more likely than not that they will be realized based on consideration of available evidence, including future reversals of existing taxable temporary differences, future projected taxable income and tax planning strategies.

GAAP prescribes a recognition threshold and measurement attribute for the financial statement recognition and measurement of a tax position taken in a tax return. We must determine whether it is “more-likely-than-not” that a tax position will be sustained upon examination, including resolution of any related appeals or litigation processes, based on the technical merits of the position. Once it is determined that a position meets the more-likely-than-not recognition threshold, the position is measured at the largest amount of benefit that is greater than 50% likely of being realized upon settlement in order to determine the amount of benefit to recognize in the financial statements. This accounting standard applies to all tax positions related to income taxes. We recognize accrued interest related to unrecognized tax benefits in interest expense and penalties in operating expenses.

Deferred Charges

Financing costs related to long-term debt are deferred and amortized over the remaining life of the debt using the effective interest method.

Foreign Currency Translation

As of December 31, 2013, our international operations consist of hotels located in Australia, Brazil, Canada, Chile, Mexico, and New Zealand, as well as investments in the Euro JV and the Asia/Pacific JV. The financial statements of these hotels and our investments therein are maintained in their functional currency and their operations are translated to U.S. dollars using the average exchange rates for the period. The assets and liabilities of the hotels and the investments therein are translated to U.S. dollars using the exchange rate in effect at the balance sheet date. The resulting translation adjustments are reflected in other comprehensive income (loss).

Foreign currency transactions are recorded in the functional currency for each entity using the exchange rates prevailing at the dates of the transactions. Assets and liabilities denominated in foreign currencies are remeasured at period end exchange rates. The resulting exchange differences are recorded in gain (loss) on foreign currency transactions and derivatives on the accompanying consolidated statements of operations, except when recorded in other comprehensive income (loss) as qualifying net investment hedges.

Derivative Instruments

We are subject to market exposures in several aspects of our business and may enter into derivative instruments in order to hedge the effect of these market exposures on our operations. Potential market exposures for which we may use derivative instruments to hedge include: (i) changes in the fair value of our international investments due to fluctuations in currency exchange rates, (ii) changes in the fair value of our fixed-rate debt due to changes in the underlying interest rates, and (iii) variability in interest payments due to changes in the underlying interest rate for our floating-rate debt. Prior to entering into the derivative instrument, we evaluate whether the transaction will qualify for hedge accounting and continue to evaluate hedge effectiveness throughout the life of the instrument. Derivative instruments that meet the requirements for hedge accounting are recorded on the balance sheet at fair value, with offsetting changes recorded to net income (loss) or other comprehensive income (loss), based on the applicable hedge accounting guidance. We incorporate credit valuation adjustments to reflect, as applicable, our own nonperformance risk or the respective counterparty’s nonperformance risk in the fair value measurements. In adjusting the fair value of our derivative instruments for the effect of nonperformance risk, we have considered the impact of netting any applicable credit enhancements, such as collateral postings, thresholds, mutual puts and accumulated guarantees.

Accumulated Other Comprehensive Income (Loss)

The components of total accumulated other comprehensive income (loss) in the balance sheets are as follows (in millions):

	As of December 31,
	2013			2012
Gain on foreign currency forward contracts	$	—		$	5
Loss on interest rate swap cash flow hedges		(2	)		(4	)
Foreign currency translation		(7	)		11
Total accumulated other comprehensive income (loss)	$	(9	)	$	12

There were no material amounts reclassified out of accumulated other comprehensive income (loss) to net income for the year ended December 31, 2013. During 2012, we reclassified a net gain of $2 million that previously had been recognized in gain on foreign currency forward sale contracts in other comprehensive income related to two foreign currency denominated subsidiaries that were substantially liquidated during the year and recognized such gain in gain (loss) on foreign currency transactions and derivatives on our consolidated statement of operations.

Revenues

Our results of operations include revenues and expenses of our hotels. Revenues are recognized when the services are provided. Additionally, we collect sales, use, occupancy and similar taxes at our hotels, which we present on a net basis (excluded from revenues) on our statements of operations.

Fair Value Measurement

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”). Assets and liabilities are measured using inputs from three levels of the fair value hierarchy. The three levels are as follows:

Level 1 — Inputs are quoted prices (unadjusted) in active markets for identical assets or liabilities that we have the ability to access at the measurement date. An active market is defined as a market in which transactions occur with sufficient frequency and volume to provide pricing on an ongoing basis.

Level 2 — Inputs include quoted prices in active markets for similar assets and liabilities, quoted prices for identical or similar assets or liabilities in markets that are not active (markets with few transactions), inputs other than quoted prices that are observable for the asset or liability (i.e., interest rates, yield curves, etc.), and inputs that are derived principally from or corroborated by observable market data correlation or other means.

Level 3 — Unobservable inputs reflect our assumptions about the pricing of an asset or liability when observable inputs are not available.

Host Inc. Earnings (Loss) Per Common Share

Basic earnings (loss) per common share is computed by dividing net income (loss) attributable 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) attributable 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.

The calculation of basic and diluted earnings (loss) per common share is shown below (in million, except per share amounts):

	Year ended December 31,
	2013			2012			2011
Net income (loss)	$	325		$	63		$	(16	)
Less: Net (income) loss attributable to non-controlling interests		(8	)		(2	)		1
Net income (loss) attributable to Host Inc.	$	317		$	61		$	(15	)
Diluted income (loss) attributable to Host Inc.	$	317		$	61		$	(15	)

Basic weighted average shares outstanding		744.4			718.2			693.0
Diluted weighted average shares outstanding ⁽¹⁾		747.9			719.6			693.0

Basic earnings (loss) per common share	$	.43		$	.08		$	(.02	)
Diluted earnings (loss) per common share	$	.42		$	.08		$	(.02	)

(1)

There are 30 million, 40 million and 47 million potentially dilutive shares for our exchangeable senior debentures and shares granted under comprehensive stock plans which were not included in the computation of diluted EPS as of December 31, 2013, 2012 and 2011, respectively, 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 (loss) attributable 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) attributable 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.

The calculation of basic and diluted earnings (loss) per common unit is shown below (in million, except per unit amounts):

	Year ended December 31,
	2013			2012			2011
Net income (loss)	$	325		$	63		$	(16	)
Less: Net (income) loss attributable to non-controlling interests		(4	)		(1	)		1
Net income (loss) attributable to Host L.P.	$	321		$	62		$	(15	)
Diluted income (loss) attributable to Host L.P.	$	322		$	62		$	(15	)

Basic weighted average shares outstanding		738.4			713.3			688.9
Diluted weighted average shares outstanding ⁽¹⁾		741.9			714.6			688.9

Basic earnings (loss) per common unit	$	.43		$	.09		$	(.02	)
Diluted earnings (loss) per common unit	$	.43		$	.09		$	(.02	)

(1)

There are 29 million, 40 million and 46 million potentially dilutive units for our exchangeable senior debentures and for units distributable to Host Inc. for Host Inc. shares granted under comprehensive stock plans which were not included in the computation of diluted earnings per unit as of December 31, 2013, 2012 and 2011, respectively, because to do so would have been anti-dilutive for the period.

Share-Based Payments

At December 31, 2013, Host Inc. maintained two stock-based employee compensation plans. Upon the issuance of Host’s common stock under the compensation plans, Host L.P. will issue to Host Inc. common OP units of an equivalent value. These liabilities are included in the consolidated financial statements for Host Inc. and Host L.P.

Concentrations of Credit Risk

Financial instruments that potentially subject us to significant concentrations of credit risk consist principally of cash and cash equivalents. We are exposed to credit risk with respect to cash held at various financial institutions, access to our credit facility, and amounts due or payable under our derivative contracts. At December 31, 2013 and December 31, 2012, our exposure risk related to our derivative instruments totaled $4 million and $14 million, respectively, and the counterparties to such instruments are investment grade financial institutions. Our credit risk exposure with regard to our cash and the $554 million available under our credit facility is spread among a diversified group of investment grade financial institutions. Following a repayment subsequent to year-end, we have $779 million available under our credit facility.

Business Combinations

We recognize identifiable assets acquired, liabilities assumed, and non-controlling interests in a business combination at their fair values at the acquisition date based on the exit price (i.e. the price that would be received to sell an asset or transfer a liability in an orderly transaction between market participants at the measurement date). Acquisition-related costs, such as due diligence, legal and accounting fees, are not capitalized or applied in determining the fair value of the acquired assets. Capital lease obligations that are assumed as part of the acquisition of a leasehold interest are fair valued and included as debt on the accompanying balance sheet and we will record the corresponding capital lease assets. In certain situations, a deferred tax liability is recognized due to the difference between the fair value and the tax basis of the acquired asset at the acquisition date, which also may result in a goodwill asset being recorded.

Reclassifications

Certain prior year financial statement amounts have been reclassified to conform with the current year presentation.

Property and Equipment

12 Months Ended

Dec. 31, 2013

Property and Equipment

2.	Property and Equipment

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

	As of December 31,
	2013			2012
Land and land improvements	$	1,973		$	1,996
Buildings and leasehold improvements		13,435			13,665
Furniture and equipment		2,223			2,227
Construction in progress		176			199
		17,807			18,087
Less accumulated depreciation and amortization		(6,812	)		(6,499	)
	$	10,995		$	11,588

The aggregate cost of real estate for federal income tax purposes is approximately $10.7 billion at December 31, 2013.

Investment in Affiliates

12 Months Ended

Dec. 31, 2013

Investment in Affiliates

3.	Investments in Affiliates

We own investments in joint ventures that are accounted for under the equity method of accounting. The debt of the Euro JV and Asia/Pacific JV is non-recourse to, and not guaranteed by, us. The debt of the Maui JV and Hyatt Place JV is jointly and severally guaranteed by the partners of the joint ventures. Investments in affiliates consist of the following (in millions):

	As of December 31, 2013
	Ownership			Our		Our Portion
	Interests			Investment		of Debt		Total Debt		Assets
Euro JV	32.1% - 33.4		%	$	374	$	444	$	1,363	Nineteen hotels in Europe
Asia/Pacific JV		25	%		20		10		39	One hotel in Australia and a 36% interest in two operating hotels and five hotels under development in India
Maui JV		67	%		16		34		50	131-unit vacation ownership project in Maui, Hawaii
Hyatt Place JV		50	%		5		12		24	One hotel in Nashville, Tennessee
Total				$	415	$	500	$	1,476

	As of December 31, 2012
	Ownership			Our		Our Portion
	Interests			Investment		of Debt		Total Debt		Assets
Euro JV	32.1% - 33.4		%	$	305	$	443	$	1,360	Nineteen hotels in Europe
Asia/Pacific JV		25	%		22		11		44	One hotel in Australia and a 36% interest in two operating hotels and five hotels under development in India
Maui JV		67	%		15		7		10	131-unit vacation ownership project in Maui, Hawaii
Hyatt Place JV		50	%		5		—		—	One hotel under development in Nashville, Tennessee
Total				$	347	$	461	$	1,414

European Joint Venture

We own general and limited partner interests in the Euro JV that consists of two separate funds, with the other partners thereof including APG Strategic Real Estate Pool NV, an affiliate of a Dutch Pension Fund, and Jasmine Hotels Pte Ltd, an affiliate of the real estate investment company of the Government of Singapore Investment Corporation Pte Ltd (“GIC RE”). We have a combined 32.1% ownership interest of Euro JV Fund I and a combined 33.4% interest of Euro JV Fund II. We do not consolidate the Euro JV due to the ownership structure and substantive participating rights of the non-Host limited partners, including approval over financing, acquisitions and dispositions, and annual operating and capital expenditures budgets. The joint venture agreement expires in 2021, subject to two one-year extensions. As of December 31, 2013, the total assets of the Euro JV are approximately €1.9 billion ($2.6 billion). As asset manager of the Euro JV funds, we earn asset management fees based on the amount of equity commitments and equity invested, which in 2013, 2012 and 2011 were approximately $15 million, $13 million and $11 million, respectively.

As of December 31, 2013, the partners have funded approximately €631 million, or 91%, of the total equity commitment for Euro JV Fund I and €369 million, or 82%, of the total equity commitment for Euro JV Fund II. On April 17, 2013 and June 25, 2013, the Euro JV partners executed amendments of the Euro JV partnership agreement in order to provide the funds necessary for a €95 million principal reduction associated with the refinancing of a mortgage loan secured by a portfolio of six properties, as well as to provide funds for general joint venture purposes, to extend the commitment period of Euro JV Fund I to December 2015 and to extend the commitment period of Euro JV Fund II by one year to June 2014 through the exercise of the extension option. The partners expect to utilize the remaining equity commitment for Euro JV Fund I for capital expenditures and financing needs.

On August 29, 2013, Euro JV Fund II acquired the 465-room Sheraton Stockholm Hotel in Sweden, for approximately €102 million ($135 million). In connection with the acquisition, the Euro JV entered into a €61 million ($81 million) mortgage loan with an interest rate of 5.67% that matures in 2018. We contributed approximately €14 million ($19 million) to the Euro JV in connection with this acquisition, funded through a draw on our credit facility.

On October 22, 2013, Euro JV Fund II sold the Courtyard Paris La Defense West – Colombes for €19 million ($26 million) plus certain customary closing adjustments and recognized a gain of approximately €1.7 million ($2.3 million). In connection with the sale, the Euro JV repaid the associated €10.4 million ($14.4 million) mortgage.

The Euro JV has €989 million ($1,363 million) of mortgage debt, including debt incurred in its recent acquisitions, all of which is non-recourse to us. A default of the Euro JV mortgage debt does not trigger a default under any of our debt. On June 20, 2013, the Euro JV refinanced a mortgage loan secured by six properties, extending the maturity date to 2016, with a one year extension option subject to meeting certain conditions. The loan has a fixed and floating rate component with an initial interest rate of 4.5%. In connection with the refinancing, the joint venture reduced the outstanding principal amount of the mortgage loan from €337 million ($446 million) to €242 million ($320 million). We funded our portion of the principal reduction, as well as certain closing costs and other funding requirements, through a €37 million ($48 million) draw on our credit facility.

We have entered into five foreign currency forward sale contracts in order to hedge the foreign currency exposure resulting from the eventual repatriation of our net investment in the Euro JV. The forward purchases will occur between May 2014 and January 2016. We have hedged €194 million (approximately $265 million) of our investment through these contracts and designated draws under our credit facility in Euros. See Note 12 – “Fair Value Measurement” for further information.

Our unconsolidated investees assess impairment of real estate properties based on whether estimated undiscounted future cash flows from each individual property are less than its carrying value. If a property is impaired, an expense is recorded for the difference between the fair value and the carrying value of the hotel. In 2013, we recognized an expense of approximately $15 million reflecting our share of the impairment of one such property in equity in earnings (losses) of affiliates.

Asia/Pacific Joint Venture

We own a 25% general and limited partner interest in the Asia/Pacific JV, with the other partner thereof including RECO Hotels JV Private Limited, an affiliate of GIC RE. The Asia/Pacific JV may be terminated after a period of seven years, which occurs in March of 2015. Due to the ownership structure and the substantive participating rights of the non-Host limited partner, including approval over financing, acquisitions and dispositions, and annual operating and capital expenditure budgets, the Asia/Pacific JV is not consolidated in our financial statements. The commitment period for the equity contributions to the joint venture expired in March of 2012. As a result, unanimous approval of the joint-holding companies is necessary to fund additional acquisitions. Certain funding commitments remain, however, related to existing investments.

As of December 31, 2013, the Asia/Pacific JV partners have invested approximately $73 million (of which our share was $18 million) in a joint venture in India with Accor S.A. and InterGlobe Enterprises Limited, in which the Asia/Pacific JV holds a 36% interest. This joint venture owns two hotels in Bangalore and is developing five properties in Chennai and Delhi. The hotels will be managed by Accor under the Pullman, ibis and Novotel brands.

Other Investments

Maui Joint Venture. On November 9, 2012, we entered into a joint venture with an affiliate of Hyatt Residential Group (the “Maui JV”) to develop, sell and operate a 131-unit vacation ownership project in Maui, Hawaii adjacent to our Hyatt Regency Maui Resort & Spa. We have a 67% ownership interest in the Maui JV, which is a non-controlling interest as a result of the significant economic rights held by the Hyatt member, which also is the managing member. The development costs are being funded with a $110 million construction loan and member contributions. As of December 31, 2013, $50.5 million has been drawn on the construction loan. The construction loan is jointly and severally guaranteed by both partners and matures in December 2015. As of December 31, 2013, we have contributed land valued at $36 million, approximately $8 million in pre-formation expenditures and additional capital contributions of $3 million. As of December 31, 2013, the book value of our investment in the Maui JV is $16 million, which represents our portion of the historical cost basis of the land plus the pre-formation expenditures and subsequent contributions.

Hyatt Place Joint Venture. In May 2012, we entered into a 50/50 joint venture agreement with White Lodging Services to develop the 255-room Hyatt Place Nashville Downtown in Tennessee for approximately $43 million, including the purchase of the land. The hotel opened in November 2013. The joint venture has a $34.8 million construction loan for this project, and as of December 31, 2013, $23.6 million was drawn on this facility. Along with White Lodging Services, we have jointly and severally guaranteed the payment of the loan. The loan matures in May 2015. If the joint venture fails to perform on the loan, White Lodging Services and we are jointly and severally liable for the outstanding loan. As of December 31, 2013 we have invested cash of approximately $6 million for our investment in the joint venture. Due to the significant control rights of our partner, we do not consolidate the joint venture in our financial statements.

Combined Financial Information of Unconsolidated Investees

Combined summarized balance sheet information for our affiliates is as follows (in millions):

	As of December 31,
	2013		2012
Property and equipment, net	$	2,480	$	2,289
Other assets		376		312
Total assets	$	2,856	$	2,601
Debt	$	1,476	$	1,414
Other liabilities		135		164
Equity		1,245		1,023
Total liabilities and equity	$	2,856	$	2,601

Combined summarized operating results for our affiliates is as follows (in millions):

	Year ended December 31,
	2013			2012			2011
Total revenues	$	617		$	428		$	381
Operating expenses
Expenses		(473	)		(346	)		(294	)
Depreciation and amortization		(112	)		(56	)		(46	)
Operating profit		32			26			41
Interest expense		(59	)		(43	)		(43	)
Gain on disposition		2			—			—
Net loss	$	(25	)	$	(17	)	$	(2	)

Debt

12 Months Ended

Dec. 31, 2013

Debt

Debt consists of the following (in millions):

	As of December 31,
	2013		2012
Series Q senior notes, with a rate of 6¾% due June 2016	$	150	$	550
Series T senior notes, with a rate of 9% due May 2017		—		391
Series V senior notes, with a rate of 6% due November 2020		500		500
Series X senior notes, with a rate of 5⅞% due June 2019		497		497
Series Z senior notes, with a rate of 6% due October 2021		300		300
Series B senior notes, with a rate of 5¼% due March 2022		350		350
Series C senior notes, with a rate of 4¾% due March 2023		450		450
Series D senior notes, with a rate of 3¾% due October 2023		400		—
2004 Exchangeable Senior Debentures, with a rate of 3¼% due April 2024		—		175
2009 Exchangeable Senior Debentures, with a rate of 2½% due October 2029		371		356
Total senior notes		3,018		3,569
Credit facility revolver		446		263
Credit facility term loan due July 2017		500		500
Mortgage debt (non-recourse), with an average interest rate of 4.1% and 4.5% at December 31, 2013 and 2012, respectively, maturing through January 2024		709		993
Other		86		86
Total debt	$	4,759	$	5,411

Senior Notes

General. Under the terms of our senior notes indenture, which includes our Exchangeable Senior Debentures, our senior notes are equal in right of payment with all of our unsubordinated indebtedness and senior to all of our subordinated obligations. The face amount of our senior notes as of December 31, 2013 and 2012 was $3.1 billion and $3.6 billion, respectively. The senior notes balance as of December 31, 2013 and 2012 includes discounts of approximately $32 million and $56 million, respectively. We pay interest on each series of our senior notes semi-annually in arrears at the respective annual rates indicated in the table above.

Under the terms of the senior notes indenture, our ability to incur indebtedness and pay dividends is subject to restrictions and the satisfaction of various conditions. As of December 31, 2013, we are in compliance with all of these covenants.

We completed the following senior notes transactions:

—

We redeemed $400 million ($200 million in June 2013 and $200 million in September 2013) of our 6¾% Series Q senior notes due 2016, for an aggregate price of $404 million, using proceeds from debt issuances and asset dispositions. Subsequent to year-end, we redeemed the remaining $150 million of Series Q senior notes for an aggregate price of $152 million.

—

On March 19, 2013, we issued $400 million of our 3³⁄₄% Series D senior notes due October of 2023 for net proceeds of approximately $396 million. The net proceeds from the issuance of the Series D, together with cash on hand, were used to redeem the $400 million of our 9% Series T senior notes due 2017 at an aggregate price of $418 million in May 2013.

—

In March 2013, holders of $174 million face amount of our 3¹⁄₄% exchangeable senior debentures (the “2004 Debentures”) elected to exchange their debentures for shares of Host Inc. common stock totaling approximately 11.7 million shares, rather than receive the cash redemption proceeds. In connection with the debentures exchanged for Host Inc. common stock, Host L.P. issued 11.5 million common OP units. The remaining $1 million of debentures were redeemed for cash.

—	On December 31, 2012, we redeemed $100 million of our 6³⁄₄% Series Q senior notes due 2016 for a redemption price of $102 million.

—

On August 9, 2012, we issued $450 million of our 4³⁄₄% Series C senior notes due 2023 for net proceeds of approximately $443 million. On September 5, 2012, a portion of the proceeds were used to redeem the $250 million of our 6³⁄₈% Series O senior notes due 2015 for a redemption price of $253 million and $150 million of our 6³⁄₄% Series Q senior notes due 2016 for a redemption price of $153 million.

—	On August 27, 2012, we redeemed $400 million of our 6³⁄₈% Series O senior notes due 2015 with proceeds from our credit facility term loan at a redemption price of $404 million.

—	On April 16, 2012, the holders of $386 million face amount of 2⁵⁄₈% exchangeable senior debentures due 2027 (the “2007 Debentures”) exercised their option to require us to repurchase their debentures at par. We redeemed the remaining $2 million in October 2012.

—	On April 13, 2012, we redeemed $250 million of our 6⁷⁄₈% Series S senior notes due in 2014, and on May 29, 2012, we redeemed the remaining $250 million Series S notes for a total redemption price of $508 million.

—

On March 22, 2012, we issued $350 million of 5¹⁄₄% Series A senior notes due 2022. Net proceeds of the offering of approximately $344 million, and available cash, were used to repay the $113 million loan with a 7.5% interest rate secured by the JW Marriott, Washington, D.C. on April 2, 2012, and to redeem $250 million of our 6⁷⁄₈% Series S senior notes, as noted above. The Series A senior notes were exchanged for Series B senior notes in October 2012. The terms of the Series B senior notes are substantially identical in all respects to those of the Series A senior notes, except that the Series B senior notes are registered under the Securities Act of 1933 and are, therefore, freely transferable by the holders.

Exchangeable Debentures. As of December 31, 2013, we have $400 million of 2¹⁄₂% exchangeable senior debentures outstanding that were issued on December 22, 2009 (the “2009 Debentures”). The 2009 Debentures are equal in right of payment with all of our other senior notes. Holders have the right to require us to purchase the 2009 Debentures at a price equal to 100% of the principal amount outstanding plus accrued interest (the “put option”) on October 15, 2015 and on certain other subsequent dates. Holders of the 2009 Debentures also have the right to exchange the 2009 Debentures prior to maturity under certain conditions, including at any time at which the closing price of Host Inc.’s common stock is more than 130% ($17.40) of the exchange price per share for at least 20 of the last 30 consecutive trading days of the calendar quarter or at any time up to two days prior to the date on which the 2009 Debentures have been called for redemption. We can redeem for cash all, or part of, any of the 2009 Debentures at any time subsequent to October 20, 2015, at a redemption price of 100% of the principal amount plus accrued interest. If, at any time, we elect to redeem the 2009 Debentures and the exchange value exceeds the cash redemption price, we would expect the holders to elect to exchange the 2009 Debentures at the respective exchange value rather than receive the cash redemption price. The exchange value is equal to the applicable exchange rate multiplied by the price of Host Inc.’s common stock. Upon exchange, the 2009 Debentures would be exchanged for Host Inc.’s common stock, cash, or a combination thereof, at our option. Based on Host Inc.’s stock price at December 31, 2013, the 2009 Debentures’ if-converted value would exceed the outstanding principal amount by $181 million. As of December 31, 2013, the closing price of Host Inc.‘s common stock exceeded 130% of the exchange price for more than 20 of 30 consecutive trading days. Therefore, the 2009 Debentures are exchangeable by holders through March 31, 2014. Currently, each $1,000 Debenture would be exchanged for 74.7034 Host Inc. common shares (for an equivalent per share price of $13.39), for a total of 29.9 million shares.

We separately account for the liability and equity components of our 2009 Debentures in order to reflect the fair value of the liability component based on our non-convertible borrowing cost at the issuance date. Accordingly, we record the liability components of the 2009 Debentures at fair value as of the date of issuance and amortize the resulting discount as an increase to interest expense through the initial put option date of the 2009 Debentures, which is the expected life of the debt. However, there is no effect of this accounting treatment on our cash interest payments. We measured the fair value of the debt components of the 2009 Debentures at issuance based on an effective interest rate of 6.9%. The initial allocations between the debt and equity components of the 2009 Debentures, net of the original issue discount, based on the effective interest rate at the time of issuance was $316 million and $82 million, respectively. As of December 31, 2013, the debt carrying value and unamortized discount were $371 million and $29 million, respectively.

Interest expense recorded for our exchangeable senior debentures (including interest expense for debentures redeemed in 2013 and 2012) consists of the following (in millions):

	Year ended December 31,
	2013		2012		2011
Contractual interest expense (cash)	$	10	$	19	$	31
Non-cash interest expense due to discount amortization		15		17		31
Total interest expense	$	25	$	36	$	62

Losses on the repurchased debentures are recorded in interest expense in the consolidated financial statements. We evaluated the fair value of the repurchased debentures based on the fair value of the cash flows at the date of the repurchase, discounted at risk adjusted rates. Based on this calculation, the fair value of our repurchased debentures generally has been greater than the conversion price; therefore, substantially all of the repurchase price was allocated to the debt portion of the debentures.

Authorization for Senior Notes and Exchangeable Senior Debentures Repurchase. Host Inc.’s Board of Directors has authorized repurchases of up to $680 million of senior notes, exchangeable debentures and mortgage debt (other than in accordance with its terms), of which $530 million remains available under this authority following our senior notes redemption subsequent to year-end.

Credit Facility. On November 22, 2011, we entered into a new senior revolving credit facility with Bank of America, N.A., as administrative agent, JPMorgan Chase Bank, N.A., as syndication agent, Wells Fargo Bank, N.A., Deutsche Bank AG New York Branch and The Bank of Nova Scotia as co-documentation agents, and certain other agents and lenders. The amounts outstanding under the prior credit facility were transferred and remain outstanding. Based on our draws at December 31, 2013, we had $554 million of available capacity under our credit facility. The credit facility allows for revolving borrowings in an aggregate principal amount of up to $1 billion, including a foreign currency subfacility for Canadian dollars, Australian dollars, New Zealand dollars, Japanese yen, Euros and British pound sterling of up to the foreign currency equivalent of $500 million, subject to a lower amount in the case of New Zealand dollar borrowings. The credit facility also provides a subfacility of up to $100 million for swingline borrowings and a subfacility of up to $100 million for issuances of letters of credit. Host L.P. also has the option to increase the aggregate principal amount of the credit facility by up to $500 million, subject to obtaining additional loan commitments and satisfaction of certain conditions. The credit facility has an initial scheduled maturity date of November 2015, with an option for Host L.P. to extend the term for one additional year, subject to certain conditions, including the payment of an extension fee.

We had the following transactions under this credit facility during 2013 and 2012 (draws used for bridge financing to facilitate transactions are not included in the below discussion):

—	In 2013, we drew $68 million in net proceeds in Euros on the revolver portion of our credit facility, primarily to facilitate acquisitions and a debt refinancing through investment in the Euro JV.

—

In 2013, we also drew $118 million of net proceeds of the revolver portion of our credit facility in U.S. dollars (net of a $7 million repayment of our draw in Australian dollars) primarily to facilitate the redemption of the Series Q senior notes. Subsequent to year-end, $225 million was repaid on the revolver portion of our credit facility and we have $779 million of available capacity.

—	In July 2012, we drew $100 million in net proceeds on the revolver portion of our credit facility to facilitate the acquisition of the Grand Hyatt Washington.

—	In 2012, we also drew $42 million in net proceeds, in various currencies, including the Euro, Canadian dollars and Australian dollars, on the revolver portion of our credit facility, primarily to facilitate acquisitions through investments in our joint ventures.

—

On July 25, 2012, we entered into a $500 million term loan (“Term Loan”) through an amendment of our credit facility. The Term Loan has a five-year maturity and a floating interest rate of LIBOR plus 165 basis points based on our leverage ratio, as defined in our credit facility, at December 31, 2013 (or approximately a 1.8% all-in interest rate).

Financial Covenants. The credit facility contains covenants concerning allowable leverage, fixed charge coverage and unsecured interest coverage (as defined in our credit facility). Currently, we are permitted to borrow and maintain amounts outstanding under the credit facility so long as our leverage ratio is not in excess of 7.25x, our unsecured coverage ratio is not less than 1.75x and our fixed charge coverage ratio is not less than 1.25x. The financial covenants for the credit facility do not apply when there are no borrowings under the credit facility. Therefore, so long as there are no amounts outstanding, we would not be in default if we do not satisfy the financial covenants and we do not lose the potential to draw under the credit facility in the future if we were to regain compliance with the financial covenants. These calculations are performed based on pro forma results for the prior four fiscal quarters, giving effect to transactions such as acquisitions, dispositions and financings as if they had occurred at the beginning of the period. Under the terms of the credit facility, interest expense excludes items such as gains and losses on the extinguishment of debt, deferred financing charges related to the senior notes or the credit facility, amortization of debt premiums or discounts that were recorded at acquisition of a loan in order to establish the debt at fair value and non-cash interest expense due to the implementation in 2009 of accounting standards related to our exchangeable debentures, all of which are included in interest expense on our consolidated statement of operations. Additionally, total debt used in the calculation of our leverage ratio is based on a “net debt” concept, under which cash and cash equivalents in excess of $100 million are deducted from our total debt balance. As of December 31, 2013, we are in compliance with the financial covenants under our credit facility.

Collateral and Guarantees. The credit facility initially does not include any subsidiary guarantees or pledges of equity interests in our subsidiaries, and the guarantees and pledges are required only in the event that Host L.P.’s leverage ratio exceeds 6.0x for two consecutive fiscal quarters at a time that Host L.P. does not have an investment grade long-term unsecured debt rating. In the event that such guarantee and pledge requirement is triggered, the guarantees and pledges ratably would benefit the credit facility, as well as the notes outstanding under Host L.P.’s senior notes indenture, interest rate and currency hedges and certain other hedging and bank product arrangements with lenders that are parties to the credit facility. Even when triggered, the guarantees and pledges only would be required by certain U.S. and Canadian subsidiaries of Host L.P. and a substantial portion of our subsidiaries would provide neither guarantees nor pledges of equity interests. As of December 31, 2013, our leverage ratio was 3.2x.

Interest and Fees. We pay interest on revolver borrowings under the credit facility at floating rates equal to LIBOR plus a margin. During 2013 and prior years, the margin ranged from 175 to 275 basis points (depending on Host L.P.’s consolidated leverage ratio). Based on our leverage ratio at December 31, 2013 of 3.2x, we would be able to borrow at a rate of LIBOR plus 175 basis points. When using leverage-based pricing, to the extent that amounts under the credit facility remain unused, we pay a quarterly commitment fee on the unused portion of the loan commitment of 25 to 35 basis points, depending on our average revolver usage during the applicable period. On and after January 24, 2014, the date on which Host L.P. elected ratings-based pricing, the margin will range from 100 to 160 basis points (depending on Host L.P.’s unsecured long-term debt rating). We also will pay a facility fee ranging from 15 to 40 basis points, depending on our rating and regardless of usage. Based on Host L.P.’s unsecured long-term debt rating as of January 24, 2014, we will be able to borrow at a rate of LIBOR plus 125 basis points and pay a facility fee of 25 basis points. During 2013 and prior years, the interest rate margin on the Term Loan ranged from 165 to 265 basis points (depending on Host L.P.’s consolidated leverage ratio). On and after January 24, 2014, the date on which Host L.P. elected ratings-based pricing, we will pay interest on the term loan at floating rates plus a margin ranging from 115 to 200 basis points (depending on Host L.P.’s unsecured long-term debt rating). Based on Host L.P.’s unsecured long-term debt rating at January 24, 2014, the margin would be 145 basis points.

Other Covenants and Events of Default. The credit facility contains restrictive covenants on customary matters. Certain covenants become less restrictive at any time that our leverage ratio falls below 6.0x. In particular, at any time that our leverage ratio is below 6.0x, we will not be subject to limitations on capital expenditures, and the limitations on acquisitions, investments and dividends contained in the credit facility will be superseded by the generally less restrictive corresponding covenants in our senior notes indenture. Additionally, the credit facility’s restrictions on the incurrence of debt and the payment of dividends generally are consistent with our senior notes indenture. These provisions, under certain circumstances, limit debt incurrence to debt incurred under the credit facility or in connection with a refinancing, and limit dividend payments to those necessary to maintain Host Inc.’s tax status as a REIT. Our senior notes and credit facility have cross default provisions that would trigger a default under those agreements if we were to have a payment default or an acceleration prior to maturity of other debt of Host L.P. or its subsidiaries. The amount of other debt in default needs to be above certain thresholds to trigger a cross default and the thresholds are greater for secured debt than unsecured debt. The credit facility also includes usual and customary events of default for facilities of this nature, and provides that, upon the occurrence and continuance of an event of default, payment of all amounts owed under the credit facility may be accelerated, and the lenders’ commitments may be terminated. In addition, upon the occurrence of certain insolvency or bankruptcy related events of default, all amounts owed under the credit facility will become due and payable and the lenders’ commitments will terminate.

Mortgage Debt

All of our mortgage debt is recourse solely to specific assets, except for environmental liabilities, fraud, misapplication of funds and other customary recourse provisions. As of December 31, 2013, we have 12 assets that are secured by mortgage debt, with an average interest rate of 4.1%, that mature between 2014 and 2024. Interest is payable monthly. As of December 31, 2013, we are in compliance with the covenants under all of our mortgage debt obligations.

We had the following mortgage debt issuances and repayments since January 2012:

					Maturity
Transaction Date	Property	Rate			Date	Amount
Issuances/Assumptions						(in millions)
December 2013	Harbor Beach Marriott Resort & Spa		4.75	%	1/1/2024	$	150
June 2012	Hyatt Regency Reston ⁽¹⁾		3.3	%	7/1/2016		100
Repayments
December 2013	Harbor Beach Marriott Resort & Spa		5.55	%	3/1/2014		(134	)
December 2013	The Westin Denver Downtown		8.51	%	12/11/2023		(31	)
May 2013	Orlando World Center Marriott		4.75	%	7/1/2013		(246	)
April 2012	JW Marriott, Washington, D.C. ⁽²⁾		7.5	%	4/2/2013		(113	)

(1)	The floating interest rate is equal to 1-month LIBOR plus 310 basis points. The rate shown reflects the rate in effect at December 31, 2013. We have the option to extend the maturity for one year, subject to certain conditions.

(2)	We prepaid the mortgage including an exit fee of $1 million.

Aggregate Debt Maturities

Aggregate debt maturities are as follows (in millions):

	As of
	December 31, 2013
2014	$	332
2015 ⁽¹⁾		858
2016 ⁽²⁾		408
2017		540
2018		-
Thereafter		2,650
		4,788
Unamortized (discounts) premiums, net		(32	)
Fair value hedge adjustment		1
Capital lease obligations		2
	$	4,759

(1)Includes $225 million outstanding under the credit facility that was repaid in January 2014.

(2)Includes $150 million Series Q senior notes that were repaid in February 2014.

Interest

The following items are included in interest expense (in millions):

	Year ended December 31,
	2013⁽¹⁾			2012⁽¹⁾			2011⁽¹⁾
Interest expense	$	304		$	373		$	371
Amortization of debt premiums/discounts, net ⁽²⁾		(15	)		(18	)		(32	)
Amortization of deferred financing costs		(10	)		(12	)		(11	)
Non-cash losses on debt extinguishments		(13	)		(9	)		(4	)
Change in accrued interest		16			4			(4	)
Interest paid ⁽³⁾	$	282		$	338		$	320

(1)	Interest expense and interest paid for 2013, 2012 and 2011 includes cash prepayment premiums of approximately $23 million, $21 million and $5 million, respectively.

(2)	Primarily represents the amortization of the debt discount on our Debentures, which is non-cash interest expense.

(3)	Does not include capitalized interest of $6 million, $6 million and $4 million during 2013, 2012 and 2011, respectively.

Our debt repayments resulted in debt extinguishment costs included in interest expense for 2013, 2012 and 2011 of $36 million, $30 million and $9 million, respectively.

Amortization of property and equipment under capital leases totaled $1 million, $1 million and $3 million for 2013, 2012 and 2011, respectively, and is included in depreciation and amortization on the accompanying consolidated statements of operations.

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

12 Months Ended

Dec. 31, 2013

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

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

Equity of Host Inc.

Host Inc. has authorized 1,050 million shares of common stock, with a par value of $0.01 per share, of which 754.8 million and 724.6 million were outstanding as of December 31, 2013 and 2012, respectively. Fifty million shares of no par value preferred stock are authorized; none of such preferred shares were outstanding as of December 31, 2013 and 2012.

Capital of Host L.P.

As of December 31, 2013, Host Inc. is the owner of approximately 98.7% of Host L.P.’s common OP units. The remaining 1.3% of Host L.P.’s common OP units are held by various unaffiliated limited partners. Each common 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 connection with the issuance of shares by Host Inc., Host L.P. will issue OP units based on the same conversion ratio. As of December 31, 2013 and 2012, Host L.P. has 748.4 million and 719.2 million OP units outstanding, respectively, of which Host Inc. held 738.9 million and 709.4 million, respectively.

Issuances of Common Stock and Common OP Units

During 2013, Host Inc. issued 16.9 million shares of common stock, at an average price of $17.78 per share, for net proceeds of approximately $297 million. These issuances were made in “at-the-market” offerings pursuant to Sales Agency Financing Agreements with BNY Mellon Capital Markets, LLC and Scotia Capital (USA) Inc. In connection with the common stock issuance, Host L.P. issued 16.5 million common OP units. These issuances completed the capacity under the current agreements.

During March 2013, $174 million of the 2004 Debentures were exchanged for shares of Host Inc. common stock, totaling approximately 11.7 million shares. In connection with the exchange, Host L.P. issued 11.5 million common OP units.

In 2012, Host Inc. issued 17.5 million shares of common stock, at an average price of $15.67 per share, for net proceeds of approximately $271 million. These issuances were made in “at-the-market” offerings pursuant to Sales Agency Financing Agreements with BNY Mellon Capital Markets, LLC and Scotia Capital (USA) Inc. In connection with the common stock issuance, Host L.P. issued 17.1 million common OP units.

Dividends/Distributions

Host Inc. is required to distribute at least 90% of its annual taxable income, excluding net capital gains, to its stockholders in order to maintain its qualification as a REIT, including taxable income recognized for federal income tax purposes but with regard to which we do not receive cash. Funds used by Host Inc. to pay dividends on its common stock are provided through distributions from Host L.P. The amount of any future dividends will be determined by Host Inc.’s Board of Directors.

The dividends that were taxable to our stockholders in 2013 were considered 96.5% ordinary income and 3.5% unrecaptured Section 1250 gain. All dividends that were taxable to our stockholders in 2012 were considered 100% ordinary income. None of such dividends was considered qualified dividends subject to a reduced tax rate.

The table below presents the amount of common dividends declared per share and common distributions per unit as follows:


	Year ended December 31,
	2013		2012		2011
Common stock	$	.46	$	.30	$	.14
Common OP units		.470		.306		.143

On February 18, 2014, Host Inc.’s Board of Directors authorized a regular quarterly cash dividend of $0.14 per share on Host Inc.’s common stock. The dividend is payable on April 15, 2014 to stockholders of record on March 31, 2014.

The entire disclosure for shareholders' equity comprised of portions attributable to the parent entity and noncontrolling interest, including other comprehensive income. Includes, but is not limited to, balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings, accumulated balance for each classification of other comprehensive income and amount of comprehensive income.

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08.(d),(e))
-URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e23780-122690

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 4
-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21484-112644

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 310
-SubTopic 10
-Section S99
-Paragraph 2
-Subparagraph (SAB TOPIC 4.E)
-URI http://asc.fasb.org/extlink&oid=27010918&loc=d3e74512-122707

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 5
-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21488-112644

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02.29-31)
-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
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Income Taxes

12 Months Ended

Dec. 31, 2013

Income Taxes

6.	Income Taxes

We have recorded a 100% valuation allowance of approximately $44 million against the deferred tax asset related to the net operating loss and asset tax credit carryovers as of December 31, 2013 with respect to our hotel in Mexico. There is a $4 million valuation allowance against the deferred tax asset related to the net operating loss and capital loss carryovers as of December 31, 2013 with respect to our hotels in Canada. There is a $3 million valuation allowance related to the net operating loss incurred by our office in Rio de Janeiro. Finally, there is a $10 million valuation allowance against the deferred tax asset related to the net operating loss carryovers as of December 31, 2013 with respect to certain of our U.S. taxable REIT subsidiaries that acted as lessee pursuant to the terminated HPT leases. We expect that the remaining net operating loss and alternative minimum tax credit carryovers for U.S. federal income tax purposes will be realized. The net decrease and the net increase in the valuation allowance for the year ending December 31, 2013 and December 31, 2012 is approximately $2 million and $16 million, respectively. The primary components of our net deferred tax asset are as follows (in millions):

	As of December 31,
Deferred tax assets	2013			2012
Accrued related party interest	$	19		$	17
Net operating loss and capital loss carryovers		85			101
Alternative minimum tax credits		5			4
Property and equipment		4			4
Investments in domestic affiliates		3			3
Other		1			2
Deferred revenue		57			54
Total gross deferred tax assets		174			185
Less: Valuation allowance		(61	)		(63	)
Total deferred tax assets, net of valuation allowance	$	113		$	122
Deferred tax liabilities
Property and equipment		(21	)		(23	)
Investments in domestic and foreign affiliates		(6	)		(6	)
Other		(3	)		(3	)
Total gross deferred tax liabilities		(30	)		(32	)
Net deferred tax assets	$	83		$	90

At December 31, 2013, we have aggregate gross domestic and foreign net operating loss, capital loss and tax credit carryovers of approximately $250 million. We have deferred tax assets related to these loss and tax credit carryovers of approximately $85 million, with a valuation allowance of approximately $61 million. Our net operating loss carryovers expire through 2031, and our foreign capital loss carryovers have no expiration period. Our domestic alternative minimum tax credits have no expiration period and our foreign asset tax credits expire through 2017.

Our U.S. and foreign income (loss) from continuing operations before income taxes was as follows (in millions):

	Year ended December 31,
	2013		2012			2011
U.S. income (loss)	$	213	$	(22	)	$	(60	)
Foreign income		18		45			32
Total	$	231	$	23		$	(28	)

The provision (benefit) for income taxes for continuing operations consists of (in millions):

		Year ended December 31,
		2013		2012		2011
Current	—Federal	$	2	$	3	$	1
	—State		4		1		1
	—Foreign		9		10		8
			15		14		10
Deferred	—Federal		4		11		(11	)
	—State		1		1		(2	)
	—Foreign		1		5		2
			6		17		(11	)
Income tax provision (benefit) – continuing operations		$	21	$	31	$	(1	)

The total provision (benefit) for income taxes, including the amounts associated with discontinued operations, was $26 million, $32 million, and ($2) million in 2013, 2012, and 2011, respectively.

The differences between the income tax provision (benefit) calculated at the statutory U.S. federal income tax rate of 35% and the actual income tax provision (benefit) recorded for continuing operations are as follows (in millions):

	Year ended December 31,
	2013			2012		2011
Statutory federal income tax provision (benefit) – continuing operations	$	81		$	8	$	(10	)
Adjustment for nontaxable (income) loss of Host Inc. – continuing operations		(77	)		4		—
State income tax provision (benefit), net		5			2		(1	)
Provision for uncertain tax positions		2			2		—
Foreign income tax provision		10			15		10
Income tax provision (benefit) – continuing operations	$	21		$	31	$	(1	)

Cash paid for income taxes, net of refunds received, was $17 million, $12 million, and $8 million in 2013, 2012, and 2011, respectively.

A reconciliation of the beginning and ending amount of unrecognized tax benefits is as follows (in millions):

	2013		2012
Balance at January 1	$	3	$	5
Reduction due to expiration of certain statutes of limitation		—		(4	)
Other increases (decreases)		2		2
Balance at December 31	$	5	$	3

All of such uncertain tax position amount, if recognized, would impact our reconciliation between the income tax provision (benefit) calculated at the statutory U.S. federal income tax rate of 35% and the actual income tax provision (benefit) recorded each year.

We expect an increase to the balance of unrecognized tax benefits within 12 months of the reporting date of approximately $2 million. As of December 31, 2013, the tax years that remain subject to examination by major tax jurisdictions generally include 2010-2013.

There were no material interest or penalties recognized for the years ended December 31, 2013, 2012 and 2011.

Leases

12 Months Ended

Dec. 31, 2013

Leases

Taxable REIT Subsidiaries Leases

We lease substantially all of our hotels to a wholly owned subsidiary that qualifies as a taxable REIT subsidiary due to federal income tax restrictions on a REIT’s ability to derive revenue directly from the operation and management of a hotel.

Vornado Lease

On July 30, 2012, we leased the retail and signage components of the New York Marriott Marquis to Vornado Realty Trust (“Vornado”). Vornado will redevelop and expand the existing retail space and a portion of the parking garage into a high-end retail space, as well as create a six-story, block front, LED signage. The lease has a 20-year term and, over the term of the lease, each party has options that, if exercised, would result in ownership of the retail space being conveyed to Vornado at a price based on the future cash flow of the leased property. Minimum rental revenue is recognized on a straight-line basis over the term of the lease. The future minimum rental revenue under the non-cancelable lease is $12.5 million on an annual basis. Percentage rent is accrued when the specified income targets have been met.

Ground Leases

As of December 31, 2013, all or a portion of 36 of our hotels are subject to ground leases, generally with multiple renewal options, all of which are accounted for as operating leases. For lease agreements with scheduled rent increases, we recognize the lease expense ratably over the term of the lease. Certain of these leases contain provisions for the payment of contingent rentals based on a percentage of sales in excess of stipulated amounts.

Hospitality Properties Trust

We owned a leasehold interest in 53 Courtyard by Marriott and 18 Residence Inn by Marriott properties, which properties were sold to Hospitality Properties Trust (“HPT”) and leased back to us in 1995 and 1996. In connection with our conversion to a REIT, we entered into subleases with a subsidiary of Barceló Crestline Corporation (“Barceló”) for these properties and Barceló guaranteed rent payments to HPT as part of the sublease. We terminated the subleases effective July 6, 2010 and resumed acting as owner under the management agreements. Effective upon termination of the subleases, we recorded the operations of the hotels as opposed to rental income.

We terminated the master lease with HPT on the 18 Residence Inn properties effective December 31, 2010 and received $17.2 million of deferred proceeds related to the initial sale and additional amounts held in the tenant collection account. We terminated the lease on the 53 Courtyard by Marriott properties effective December 31, 2012. At the expiration of the lease in 2012, HPT paid us deferred proceeds related to the initial sale of approximately $51 million. Approximately $11 million related to tenant collections accounts and $5 million for working capital were received in 2013.

Other Lease Information

We also have leases on facilities used in our former restaurant business, all of which we subsequently subleased. These leases and subleases contain one or more renewal options, generally for five or ten-year periods. The restaurant leases are accounted for as operating leases. Our contingent liability related to these leases is $17 million as of December 31, 2013. However, management considers the likelihood of any material funding related to these leases to be remote. Our leasing activity also includes those entered into by our hotels for various types of equipment, such as computer equipment, vehicles and telephone systems. Equipment leases are accounted for either as operating or capital leases, depending on the characteristics of the particular lease arrangement. Equipment leases that are characterized as capital leases are classified as furniture and equipment and are depreciated over the life of the lease. The amortization expense applicable to capitalized leases is included in depreciation expense.

The following table presents the future minimum annual rental commitments required under non-cancelable leases for which we are the lessee (in millions):

	As of December 31, 2013
	Capital		Operating
	Leases		Leases
2014	$	1	$	45
2015		1		43
2016		—		42
2017		—		42
2018		—		41
Thereafter		—		1,591
Total minimum lease payments	$	2	$	1,804

Minimum payments for the operating leases have not been reduced by aggregate minimum sublease rentals from restaurants of approximately $5 million per year that are payable to us under non-cancelable subleases.

Rent expense is included in other property-level expenses on our consolidated statements of operations and consists of (in millions):

	Year ended December 31,
	2013			2012			2011
Minimum rentals on operating leases	$	50		$	117		$	114
Additional rentals based on sales		32			31			26
Rental payments based on real estate tax assessments		24			23			22
Less: sublease rentals		(3	)		(3	)		(3	)
	$	103		$	168		$	159

The entire disclosure for lessor entity's leasing arrangements for operating, capital and leveraged leases.

Pension and Other Postemployment Benefits Plans

Employee Stock Plans

12 Months Ended

Dec. 31, 2013

Employee Stock Plans

8.	Employee Stock Plans

Upon the issuance of Host Inc.’s common stock under either of the two stock-based compensation plans described below, Host L.P. will issue to Host Inc. common OP units of an equivalent value. Accordingly, these liabilities and related disclosures are included in both Host Inc.’s and Host L.P.’s consolidated financial statements.

Host Inc. maintains two stock-based compensation plans, the Comprehensive Stock and Cash Incentive Plan (the “2009 Comprehensive Plan”), under which Host Inc. may award to participating employees restricted stock awards of Host Inc.’s common stock and options to purchase our common stock and the Employee Stock Purchase Plan (“ESPP”). At December 31, 2013, there were approximately 18 million shares of Host Inc.’s common stock reserved and available for issuance under the 2009 Comprehensive Plan.

We recognize costs resulting from share-based payments in our financial statements over their vesting periods. No compensation cost is recognized for awards for which employees do not render the requisite services. We classify share-based payment awards granted in exchange for employee services as either equity or liability awards. Equity awards are measured based on their fair value as of the date of grant. In contrast, liability awards are re-measured to fair value each reporting period.

During 2013, 2012 and 2011, we recorded stock-based compensation expense of approximately $18 million, $16 million and $19 million, respectively. Shares granted in 2013, 2012 and 2011 totaled 2.2 million, 1.8 million and 0.2 million, respectively, while 1.2 million, 0.9 million and 1.5 million, respectively, vested during those years.

Senior Executive Plan

During 2013, Host Inc. granted 1.7 million shares of restricted stock awards and 0.4 million shares of stock option awards to senior executives (the “Annual Plan”). The restricted stock awards and stock option awards vest on an annual basis; therefore, no awards were outstanding at December 31, 2013.

Restricted stock awards

Vesting of restricted stock awards is based on (1) the achievement of relative total shareholder return (“TSR”) and (2) the company and the personal performance of employees attributable to specific management business objectives. Approximately 50% of the restricted stock awards are based on the satisfaction of the TSR compared to (i) the NAREIT index, (ii) the Standards & Poor index, and (iii) a Selected Lodging Company index that serves as a relevant industry/asset specific measurement to our competitors, with the remaining 50% based on the achievement of management business objectives. Restricted stock awards granted to U.S. senior executives are classified as liability awards, due to settlement features that allow the recipient to have a percentage of the restricted stock awards withheld to meet tax requirements in excess of the statutory minimum withholding requirements. The fair value of these shares is adjusted at each balance sheet date and, at year end, is equal to the number of shares earned during the year at the December 31, 2013 stock price. Of the awards granted in 2013, 93% were classified as liability awards. In contrast, restricted stock awards granted to senior executives operating out of our international offices do not have this settlement feature and are considered equity awards. The fair value of these equity awards is based on the fair value on the grant date, and is not adjusted for subsequent movements in fair value.

During 2013, 2012 and 2011, we recorded compensation expense of approximately $14 million, $12 million and $15 million, respectively, related to the restricted stock awards to senior executives. The following table is a summary of the status of our senior executive plans for the three years ended December 31, 2013:

	Year ended December 31,
	2013					2012					2011
	Shares			Fair Value		Shares			Fair Value		Shares			Fair Value
	(in millions)			(per share)		(in millions)			(per share)		(in millions)			(per share)
Balance, at beginning of year		—		$	—		—		$	—		3.7		$	11
Granted		1.7			16		1.6			14		0.1			17
Vested ⁽¹⁾		(0.8	)		19		(0.6	)		16		(1.3	)		15
Forfeited/expired		(0.9	)		19		(1.0	)		16		(2.5	)		15
Balance, at end of year		—			—		—			—		—		—
Issued in calendar year ⁽¹⁾		0.3			19		0.8			16		1.1			15

(1)

Shares that vest at December 31 of each year are issued to the employees in the first quarter of the following year, although the requisite service period is complete. Accordingly, the 0.3 million shares issued in 2013 include shares vested at December 31, 2012, after adjusting for shares withheld to meet employee tax requirements. The shares withheld for employee tax requirements were valued at $5.5 million, $9.5 million and $15.4 million, for 2013, 2012 and 2011, respectively.

Stock Option Awards

As of December 31, 2013, 0.7 million shares of stock option awards were outstanding and exercisable with a weighted average remaining life of 8 years and a weighted average exercise price of $15.41 per share. During 2013, 2012 and 2011, stock option grants totaled 420,000, 201,000 and 22,000, respectively. Stock compensation expense was $1.8 million, $1.6 million and $1.8 million during 2013, 2012 and 2011, respectively, and all stock option awards outstanding as of December 31, 2013 were fully vested. We expense stock option awards over the vesting period based on the estimated fair value of the options at the grant date using a binomial pricing model. To calculate the fair value of stock option awards granted from 2011 to 2013, we assumed (i) a volatility ranging between 36% and 66%, (ii) a risk free rate ranging between 1.0% and 2.2%, (iii) a dividend yield ranging between 3.0% and 3.5%, and (iv) an expected life of 5.5 years.

Other Stock Plans

In addition to the share-based plans described above, we maintain an upper-middle management plan and an employee stock purchase plan. The awards are time-based equity awards that vest within three years of the grant date and expense is recognized over the life of the award based on the grant date fair value. Through the employee stock purchase plan, employees can purchase stock at a 10% discount of the lower price of the beginning and ending stock price each quarter. During 2013, 2012 and 2011, we granted 116,000 shares, 84,000 shares and 93,000 shares, respectively, under both of these programs and recorded expense of $2.0 million, $1.9 million and $1.9 million, respectively.

Profit Sharing and Postemployment Benefit Plans

12 Months Ended

Dec. 31, 2013

9.	Profit Sharing and Postemployment Benefit Plans

We contribute to defined contribution plans for the benefit of employees who meet certain eligibility requirements and who elect participation in the plans. The discretionary amount to be matched by us is determined annually by Host Inc.’s Board of Directors. Our recorded liability for this obligation is not material. Payments for these items were not material for the three years ended December 31, 2013.

Dispositions

12 Months Ended

Dec. 31, 2013

Dispositions

10.	Dispositions

Discontinued Operations

We disposed of five hotels in 2013, three hotels in 2012 and one hotel in 2011. The operations for these hotels are included in discontinued operations. The following table summarizes the revenues, income before taxes, and the gain on disposals, net of tax, of the hotels which have been reclassified to discontinued operations, which includes assets held for sale and the results of sold hotels prior to their disposition for the periods presented (in millions):

	Year ended December 31,
	2013		2012		2011
Revenues	$	104	$	264	$	288
Income before taxes		22		24		11
Gain on disposals, net of tax		97		48		—

Net income (loss) attributable to Host Inc. is allocated between continuing and discontinued operations as follows (in millions):

	Year ended December 31,
	2013		2012			2011
Continuing operations, net of tax	$	203	$	(10	)	$	(26	)
Discontinued operations, net of tax		114		71			11
Net income (loss) attributable to Host Inc.	$	317	$	61		$	(15	)

Net income (loss) attributable to Host L.P. is allocated between continuing and discontinued operations as follows (in millions):

	Year ended December 31,
	2013		2012			2011
Continuing operations, net of tax	$	206	$	(9	)	$	(26	)
Discontinued operations, net of tax		115		71			11
Net income (loss) attributable to Host L.P.	$	321	$	62		$	(15	)

Dispositions in 2013 included (i) the Dallas/Addison Marriot Quorum by the Galleria for $56 million, (ii) the Four Seasons Hotel Atlanta for $63 million, (iii) the Portland Marriott Downtown Waterfront for $87 million, (iv) The Ritz-Carlton, San Francisco for $161 million, and (v) the Atlanta Marriott Marquis for $293 million.

In connection with the sale of The Ritz-Carlton, San Francisco, we recorded a deferred gain of approximately $11 million, the recognition of which is subject to performance guarantees through which we have guaranteed certain annual net operating profit levels for the hotel through 2016, with a maximum payment of $4 million per year, not to exceed $11 million in total.

In connection with the sale of the Atlanta Marriott Marquis, we recorded a gain on the sale of approximately $19 million, net of $5 million deferred for an environmental contingency.

Other Dispositions

During 2013 and 2012, we disposed of certain assets that do not result in reclassification of prior years’ operations to discontinued operations. These transactions included:

—	On April 1, 2013, we sold approximately four acres of land adjacent to our Newport Beach Marriott Hotel & Spa for $24 million and recognized a $21 million gain on the sale.

—	On November 9, 2012, in connection with the Maui JV, we sold land valued at $36 million to the joint venture and we recognized a gain of $8 million on the sale.

Subsequent to year end, on January 10, 2014, we sold an 89% controlling interest in the entity that owns the Philadelphia Marriott Downtown. As a result, the hotel no longer will be consolidated in our financial statements. Due to our remaining 11% interest in the hotel, the operations of the hotel recorded prior to the sale will not be reclassified to discontinued operations. Additionally, on February 12, 2014, we sold the Courtyard Nashua for $10 million.

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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Acquisitions

12 Months Ended

Dec. 31, 2013

Acquisitions

11.	Acquisitions

Business Combinations

We acquired one hotel during 2013 and recorded $1 million of acquisition related expenses and acquired one hotel during 2012 and recorded $6 million of acquisition-related expenses. Subsequent to year-end, we acquired one hotel and recorded $1 million of acquisition related expenses. For 2013 and 2012, including subsequent events, our business combinations were as follows:

—	On January 21, 2014, we acquired the 151-room Powell Hotel in San Francisco, California, including retail space and the fee simple interest in the land, for approximately $75 million.

—	On May 31, 2013, we acquired the 426-room Hyatt Place Waikiki Beach in Honolulu, Hawaii for approximately $138.5 million, including a $0.5 million FF&E replacement fund.

—	On July 16, 2012, we acquired the 888-room Grand Hyatt Washington for approximately $400 million. In connection with the acquisition, we also paid $17 million, net, for the FF&E replacement fund, working capital and other assets.

Accounting for the acquisition of a hotel property or an entity as a purchase transaction requires an allocation of the purchase price to the assets acquired and the liabilities assumed in the transaction at their respective estimated fair values. The purchase price allocations are estimated based on current available information; however, we still are in the process of obtaining appraisals and finalizing the accounting for the acquisition of the Powell Hotel, which was acquired subsequent to year-end. The estimated fair value of the assets acquired related to this acquisition is $75 million; other assets acquired and liabilities assumed are immaterial.

The following table summarizes the estimated fair value of the assets acquired and liabilities assumed for our 2013 and 2012 hotel acquisitions (in millions):

	As of December 31,
	2013		2012
Property and equipment	$	138	$	409
Restricted cash, FF&E reserves and other assets		1		9
Total assets		139		418
Other liabilities		—		(1	)
Net assets acquired	$	139	$	417

Our summarized unaudited consolidated pro forma results of operations, assuming the 2013 and 2012 hotel acquisitions, including subsequent events, occurred on January 1, 2011 and excluding the acquisition costs discussed above, are as follows (in millions, except per share and per unit amounts):

	Year ended December 31,
	2013		2012
Revenues	$	5,185	$	5,136
Income from continuing operations		214		12
Net income		329		83

Host Inc.:
Net income attributable to Host Inc.	$	321	$	81

Basic earnings per common share:
Continuing operations	$	.27	$	.02
Discontinued operations		.16		.09
Basic earnings per common share	$	.43	$	.11

Diluted earnings per common share:
Continuing operations	$	.28	$	.02
Discontinued operations		.15		.09
Diluted earnings per common share	$	.43	$	.11

Host L.P.:
Net income attributable to Host L.P.	$	325	$	82

Basic earnings per common unit:
Continuing operations	$	.29	$	.01
Discontinued operations		.15		.10
Basic earnings per common unit	$	.44	$	.11

Diluted earnings per common unit:
Continuing operations	$	.29	$	.01
Discontinued operations		.15		.10
Diluted earnings per common unit	$	.44	$	.11

For 2013 and 2012, we have included $109 million and $37 million of revenues, respectively, and $19 million and $6 million of net income, respectively, in our consolidated statements of operations related to the operations of the hotels acquired in 2013 and 2012.

New Development and Other Asset Acquisitions

For 2013 and 2012, our new development and other asset acquisitions were as follows:

—

On December 10, 2013, we made the final incremental payment of $19.9 million for the purchase of the fee simple interest in the land at the New York Marriott Marquis Times Square. In addition, $25 million of the payments made pursuant to the terms of the ground lease have been attributed toward the purchase of the land. The purchase was completed in conjunction with our 2012 lease of the existing retail space to Vornado Realty Trust and its on-going redevelopment.

—	On June 8, 2012, we acquired land and entered into a construction agreement to develop two hotels in Rio de Janeiro, Brazil. We have invested approximately R$94 million ($45 million) as of December 31, 2013. The hotels will be managed by Accor under the ibis and Novotel brands.

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).

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Fair Value Measurements

12 Months Ended

Dec. 31, 2013

Fair Value Measurements

12.	Fair Value Measurements

Overview

Our recurring fair value measurements consist of the valuation of our derivative instruments, all of which are designated as accounting hedges. Non-recurring fair value measurements during 2013 and 2012 consisted of the impairment of two of our hotel properties.

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, as well as non-recurring fair value measurements that we completed during 2013 and 2012 due to the impairment of non-financial assets (in millions):

	Fair Value at Measurement Date Using
				Quoted Prices		Significant
				in Active		Other			Significant
	Balance at			Markets for		Observable			Unobservable
	December 31,			Identical Assets		Inputs			Inputs
	2013			(Level 1)		(Level 2)			(Level 3)
Fair Value Measurements on a Recurring Basis:
Assets
Interest rate swap derivatives ⁽¹⁾	$	1		$	—	$	1		$	—
Foreign currency forward sale contracts⁽¹⁾		3			—		3			—
Liabilities
Interest rate swap derivatives⁽¹⁾		(3	)		—		(3	)		—
Foreign currency forward sale contracts ⁽¹⁾		(6	)		—		(6	)		—

Fair Value Measurements on a Non-recurring Basis:
Impaired hotel properties held and used⁽²⁾		9			—		—			9

	Fair Value at Measurement Date Using
				Quoted Prices		Significant
				in Active		Other			Significant
	Balance at			Markets for		Observable			Unobservable
	December 31,			Identical Assets		Inputs			Inputs
	2012			(Level 1)		(Level 2)			(Level 3)
Fair Value Measurements on a Recurring Basis:
Assets
Interest rate swap derivatives ⁽¹⁾	$	7		$	—	$	7		$	—
Foreign currency forward sale contracts⁽¹⁾		5			—		5			—
Liabilities
Interest rate swap derivatives ⁽¹⁾		(6	)		—		(6	)		—

Fair Value Measurements on a Non-recurring Basis:
Impaired hotel properties held and used ⁽²⁾		34			—		—			34

(1)	These derivative contracts have been designated as hedging instruments.

(2)	The fair value measurements are as of the measurement date of the impairment and may not reflect the book value as of December 31, 2013 and December 31, 2012, respectively.

Impairment

During 2013, we recorded an impairment expense of approximately $1 million related to the Courtyard Nashua. The fair value was based on expected sale proceeds of the property, which property was sold on February 12, 2014. During 2012, we recorded an impairment loss of $60 million related to The Westin Mission Hills Resort & Spa. We evaluated the recoverability of the hotel’s carrying value assuming that it was more likely than not that the hotel will be sold before the end of its estimated useful life. Using an estimated undiscounted net cash flow, we concluded that the carrying value of the hotel was not fully recoverable. We estimated the fair value of the hotel using a discounted cash flow analysis, with an estimated stabilized growth rate of 3%, a discounted cash flow term of 10 years, a capitalization rate of 11%, and a discount rate of 12%. The discount and capitalization rates used for the fair value of the property reflect its heightened risk profile and are not indicative of our portfolio as a whole.

Derivatives and Hedging

Interest rate swap derivatives designated as cash flow hedges. We have designated our floating-to-fixed interest rate swap derivatives as cash flow hedges. The purpose of the interest rate swaps is to hedge against changes in cash flows (interest payments) attributable to fluctuations in variable rate debt. The derivatives are valued based on the prevailing market yield curve on the date of measurement. We also evaluate counterparty credit risk when we calculate the fair value of the swaps. Changes in the fair value of the derivatives are recorded to other comprehensive income (loss) on the accompanying balance sheets. The hedges were fully effective as of December 31, 2013. The following table summarizes our interest rate swap derivatives designed as cash flow hedges (in millions):


							Change in Fair Value
	Total						Gain (Loss)
Transaction	Notional		Maturity	Swapped			Year ended December 31,
Date	Amount		Date	Index	All-in-Rate		2013		2012
November 2011 ⁽¹⁾	A$	62	November 2016	Reuters BBSY	6.7	%	$	1	$	(2)
February 2011⁽²⁾	NZ$	79	February 2016	NZ$ Bank Bill	7.15	%	$	2	$	—

(1)	The swap was entered into in connection with the A$82 million ($71 million) mortgage loan on the Hilton Melbourne South Wharf.

(2)	The swap was entered into in connection with the NZ$105 million ($87 million) mortgage loan on seven properties in New Zealand.

Interest rate swap derivatives designated as fair value hedges. We have designated our fixed-to-floating interest rate swap derivatives as fair value hedges. We enter into these derivative instruments to hedge changes in the fair value of fixed-rate debt that occur as a result of changes in market interest rates. The derivatives are valued 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 swaps. The changes in the fair value of the derivatives are largely offset by corresponding changes in the fair value of the underlying debt due to changes in the 3-month LIBOR rate, which change is recorded as an adjustment 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 periods presented, is considered the ineffective portion of the hedging relationship and is recognized in net income (loss).

We have three fixed-to-floating interest rate swap agreements for an aggregate notional amount totaling $300 million. We pay a floating interest rate equal to the 3-month LIBOR plus a spread which ranges from 2.7% to 3.2%, as opposed to the fixed rate of 5.531%, on the notional amount of $300 million through March 1, 2014. During 2013 and 2012, the fair value of the swaps decreased $6 million and $4 million, respectively.

Foreign Investment Hedging Instruments. We have five foreign currency forward sale contracts that hedge a portion of the foreign currency exposure resulting from the eventual repatriation of our net investment in foreign operations. These derivatives are considered hedges of the foreign currency exposure of a net investment in a foreign operation and are marked-to-market with changes in fair value recorded to other comprehensive income (loss) within the equity portion of our balance sheet. The foreign currency forward sale contracts are valued based on the forward yield curve of the foreign currency to U.S. dollar forward exchange rate on the date of measurement. We also evaluate counterparty credit risk when we calculate the fair value of the derivatives. The following table summarizes our foreign currency forward sale contracts (in millions):

Currently Outstanding

Change in Fair Value - All Contracts

Total

Transaction

Total

Amount in

Transaction

Forward

Gain (Loss)

Transaction

Foreign

Amount

Purchase

Year ended December 31,

Date Range

Currency

in Dollars

Date Range

2013

2012

May 2008-January 2013

€

120

163

May 2014-January 2016

)

In addition to the foreign currency forward sale contracts, we have designated a portion of the foreign currency draws on our credit facility as hedges of net investments in foreign operations. As a result, currency translation adjustments in the designated credit facility draws are recorded to other comprehensive income (loss) within the equity portion of our balance sheet, which adjustments offset a portion of the translation adjustment related to our foreign investments. The following table summarizes the draws on our credit facility that are designated as hedges of net investments in international operations (in millions):

	Balance		Balance		Gain (Loss)
	Outstanding		Outstanding in		Year ended December 31,
Currency	US$		Foreign Currency		2013		2012
Canadian dollars ⁽¹⁾	$	29	C$	31	$	2	$	—
Euros	$	102	€	74	$	(5)	$	(2)

(1)	We have drawn an additional $71 million on the credit facility in Canadian dollars that has not been designated as a hedging instrument.

Other Assets and Liabilities

Fair Value of Other Financial Assets and Liabilities. We did not elect the fair value measurement option for any of our other financial assets or liabilities. The fair values of secured debt and our 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 fair value of certain financial assets and liabilities and other financial instruments are shown below (in millions):

	As of December 31,
	2013				2012
	Carrying		Fair		Carrying		Fair
	Amount		Value		Amount		Value
Financial liabilities
Senior notes (Level 1)	$	2,647	$	2,766	$	3,038	$	3,296
Exchangeable Senior Debentures (Level 1)		371		603		531		725
Credit facility (Level 2)		946		946		763		763
Mortgage debt and other, excluding capital leases (Level 2)		793		802		1,078		1,094

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.

Gain on Insurance Settlements

Gain on Insurance Settlements

12 Months Ended

Dec. 31, 2013

13.	Gain on Insurance Settlements

On February 22, 2011, Christchurch, New Zealand experienced an earthquake that resulted in substantial damage to the Hotel Novotel Christchurch Cathedral Square and the Hotel ibis Christchurch. The ibis reopened in September 2012 and the Novotel reopened in August 2013; however, the historic portion of the Novotel, the Warners building, has been demolished and is not expected to be replaced. We believe the insurance coverage provided by our property manager will be able to cover to the majority of our insured claims for both property and business interruption. We recorded a loss of $3 million which represents the estimated deductible under our insurance policy in the second quarter of 2011.

We estimated that we incurred approximately $33 million of property damage, which amount represents the book value of the properties and equipment written off less any deductible, and the related repairs and clean-up costs incurred. Any gains resulting from insurance proceeds are not recognized until all contingencies are resolved. During 2012 and 2011, we recognized a gain of $9 million and $2 million, respectively, for the receipt of business interruption insurance proceeds. As of December 31, 2013 we have agreed upon settlement amounts with our primary insurer for all property and business interruption insurance, except for real property damage to the Warners building. While the primary insurer has recognized its liability with regard to the Warners building, there is no agreed settlement amount for real property damage to the Warners building as the ground lessor has filed suit to recover a portion of the insurance proceeds from the primary insurer for the hotel. While we can provide no assurance as to the timing of when this dispute will be settled, we believe that it is more likely than not that we will recover the full value of our insurance receivable. In addition, we have made a separate claim for reimbursement under our corporate policy, though we have not recorded any additional amounts of insurance receivable with regard to this claim. We have received $21 million of cash for property insurance and have an outstanding insurance receivable of $8 million which is included in other assets, representing the remaining claims for property damage.

Hotel Management Agreements and Operating and License Agreements

12 Months Ended

Dec. 31, 2013

Hotel Management Agreements and Operating and License Agreements

14.	Hotel Management Agreements and Operating and License Agreements

All of our hotels are managed by third parties pursuant to management or operating agreements, with some of our hotels also being subject to separate license agreements addressing matters pertaining to operation under the designated brand. The hotel brands of three of our managers, Marriott, Starwood and Hyatt, represent 58%, 24% and 12% of our total revenues, respectively. Under these agreements, the managers generally have sole responsibility for all activities necessary for the day-to-day operation of the hotels, including establishing room rates, processing reservations and promoting and publicizing the hotels. The managers also provide all employees for the hotels, prepare reports, budgets and projections, and provide other administrative and accounting support services to the hotels. For the majority of our properties, we have approval rights over budgets, capital expenditures, significant leases and contractual commitments, and various other matters.

The initial term of our agreements generally is 15 to 25 years, with one or more renewal terms at the option of the manager. The majority of our agreements condition the manager’s right to exercise options for renewal upon the satisfaction of specified economic performance criteria. The manager typically receives a base management fee, which is calculated as a percentage (generally 2-3%) of annual gross revenues, and an incentive management fee, which typically is calculated as a percentage (generally 10-20%) of operating profit after the owner has received a priority return on its investment. In the case of our Starwood-managed hotels, the base management fee only is 1% of annual gross revenues, but that amount is supplemented by license fees payable to Starwood under a separate license agreement pertaining to the designated brand, including rights to use trademarks, service marks and logos, matters relating to compliance with certain brand standards and policies, and the provision of certain system programs and centralized services. Under the license agreement Starwood generally receives 5% of gross revenues attributable to room sales and 2% of gross revenues attributable to food and beverage sales in addition to a base management fee.

As part of the agreements, the manager furnishes the hotels with certain chain services, which generally are provided on a central or regional basis to all hotels in the manager’s hotel system. Chain services include central training, advertising and promotion, national reservation systems, computerized payroll and accounting services, and such additional services as needed which may be more efficiently performed on a centralized basis. Costs and expenses incurred in providing such services are allocated among the hotels managed, owned or leased by the manager on a fair and equitable basis. In addition, our managers generally will sponsor a guest rewards program, the costs of which will be charged to all of the hotels that participate in such program.

We are obligated to provide the manager with sufficient funds, generally 5% of the revenue generated at the hotel, to cover the cost of (a) certain non-routine repairs and maintenance to the hotels which normally are capitalized, and (b) replacements and renewals to the hotels’ furniture, fixtures and equipment. Under certain circumstances, we will be required to establish escrow accounts for such purposes under terms outlined in the agreements.

We generally are limited in our ability to sell, lease or otherwise transfer the hotels unless the transferee assumes the related management agreement. However, most agreements include owner rights to terminate the agreements on the basis of the manager’s failure to meet certain performance-based metrics. Typically, these criteria are subject to the manager’s ability to ‘cure’ and avoid termination by payment to us of specified deficiency amounts (or, in some instances, waiver of the right to receive specified future management fees).

In addition to any performance-based or other termination rights, we have negotiated with Marriott, Starwood and some of our other managers specific termination rights related to specific agreements. These termination rights can take a number of different forms, including termination of agreements upon sale that leave the property unencumbered by any agreement; termination upon sale provided that the property continues to be operated under a license or franchise agreement with continued brand affiliation; as well as termination without sale or other condition, which may require the payment of a fee. These termination rights also may restrict the number of agreements that may be terminated over any annual or other period; impose limitations on the number of agreements terminated as measured by EBITDA; require that a certain number of properties continue to maintain the brand affiliation; or be restricted to a specific pool of assets.

Geographic and Business Segment Information

12 Months Ended

Dec. 31, 2013

Geographic and Business Segment Information

15.	Geographic and Business Segment 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 office buildings) are immaterial and, with our operating segments, meet the aggregation criteria, and thus, we report one segment: hotel ownership. Our international operations consist of hotels in six countries. There were no intersegment sales during the periods presented. The following table presents revenues and long-lived assets for each of the geographical areas in which we operate (in millions):

	2013				2012				2011
			Property and				Property and				Property and
	Revenues		Equipment, net		Revenues		Equipment, net		Revenues		Equipment, net
United States	$	4,895	$	10,498	$	4,791	$	11,095	$	4,461	$	10,874
Australia		40		106		42		133		27		136
Brazil		30		76		33		39		33		42
Canada		97		89		95		97		92		126
Chile		34		54		37		63		28		58
Mexico		24		32		25		26		24		23
New Zealand		46		140		36		135		32		124
United Kingdom		—		—		—		—		17		—
Total	$	5,166	$	10,995	$	5,059	$	11,588	$	4,714	$	11,383

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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Guarantees and Contingencies

Guarantees and Contingencies

12 Months Ended

Dec. 31, 2013

16.	Guarantees and Contingencies

We have certain guarantees which consist of commitments made to third parties for leases or debt that are not recognized in our consolidated financial statements due to various dispositions, spin-offs and contractual arrangements, but that we have agreed to pay in the event of certain circumstances, including the default by an unrelated party. We also may have contingent environmental liabilities related to the presence of hazardous or toxic substances. We consider the likelihood of any material payments under these guarantees and contingencies to be remote. The guarantees and contingencies that are not recognized in our consolidated financial statements are listed below:

—

We remain contingently liable for rental payments on certain divested non-lodging properties. These primarily represent certain restaurants that were sold subject to our guarantee of the future rental payments. The aggregate amount of these future rental payments is approximately $17 million as of December 31, 2013.

—

In 1997, we owned Leisure Park Venture Limited Partnership, which owns and operates a senior living facility. We spun-off the partnership to Barceló as part of the REIT conversion, but we remain obligated under a guarantee of interest and principal with respect to $14.7 million of municipal bonds issued by the New Jersey Economic Development Authority through their maturity in 2027. However, to the extent we are required to make any payments under the guarantee, we have been indemnified by Barceló, who, in turn, is indemnified by the current owner of the facility.

—

In connection with the sale of two hotels in January 2005, we remain contingently liable for the amounts due under the respective ground leases. The future minimum lease payments are approximately $12 million through the full term of the leases, including renewal options. We believe that the likelihood of any material payments related to these ground leases is remote, and in each case, we have been indemnified by the purchaser of the hotel.

Guarantees and environmental liabilities that are recorded on our consolidated balance sheet include:

—	In connection with the sale of the Atlanta Marriott Marquis in January 2013, we retained $5 million of contingent liabilities related to potential environmental liabilities.

—

In connection with the sale of the Ritz-Carlton San Francisco hotel in June 2013, we agreed to guarantee the hotel’s operating income through December 31, 2016. During this period, we will make support payments of up to $4 million a year, not to exceed $11 million for the life of the agreement. As of December 31, 2013, we have accrued $11 million for the guarantee.

Legal Proceedings

12 Months Ended

Dec. 31, 2013

Legal Proceedings

17.	Legal Proceedings

We are involved in various legal proceedings in the normal course of business regarding the operation of our hotels and company matters. 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, tax disputes 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 with which we are currently involved or of which we are aware and our experience in resolving similar claims in the past, we have accrued approximately $18 million as of December 31, 2013. We have estimated that, in the aggregate, our losses related to these proceedings could be as much as $50 million. We believe this range represents the maximum potential loss for all of our legal proceedings, with the exception of the San Antonio litigation discussed below. We are not aware of any other matters with a reasonably possible unfavorable outcome for which disclosure of a loss contingency is required. No assurances can be given as to the outcome of any pending legal proceedings.

San Antonio Litigation. On April 27, 2005, we initiated a lawsuit against Keystone-Texas Property Holding Corporation (“Keystone”) seeking a declaration that a provision of the ground lease for the property under the San Antonio Marriott Rivercenter was valid and claiming that Keystone had breached that lease provision. On October 18, 2006, Keystone filed an amended counterclaim and later, a third party claim, alleging that we had tortiously interfered with Keystone’s attempted sale of the property and that we slandered Keystone’s title to the property.

On February 8, 2010, we received an adverse jury verdict in the 166^th Judicial District Court of Bexar County, Texas. The jury found that we tortiously interfered with the attempted sale by Keystone of the land under the San Antonio Marriott Rivercenter and awarded Keystone $34.3 million in damages, plus statutory interest. In addition, the jury found that we slandered Keystone’s title to the property and awarded Keystone $39 million in damages, plus statutory interest. Keystone only will be entitled to receive one of these damage awards. On February 12, 2010, the jury awarded Keystone $7.5 million in exemplary damages with respect to the second claim. The trial court, however, subsequently granted our motion to disregard the jury’s exemplary damages award. On June 3, 2010, the trial court issued its final judgment awarding Keystone: (i) $39 million in damages for slander of title; or (ii) alternatively, $34.3 million for tortious interference of contract; (iii) approximately $6.8 million in pre-judgment and post-judgment interest (as of December 31, 2013 interest was $17 million); (iv) approximately $3.5 million in attorneys’ fees, expenses, and costs; and (v) an additional $750,000 in attorneys’ fees for any appeal to the court of appeals and Texas Supreme Court.

On November 23, 2011, a three-judge panel of the San Antonio Court of Appeals issued its memorandum opinion denying our appeal of the trial court’s June 3, 2010 final judgment. In addition, the panel overturned the trial court’s decision to grant our motion to disregard the jury’s $7.5 million award of exemplary damages. On January 17, 2012, we filed motions seeking rehearing from the three-judge panel and a motion for rehearing by the entire seven-judge court of appeals. Those motions were denied on February 29, 2012.

On May 16, 2012, we filed a Petition for Review in the Texas Supreme Court and on August 17, 2012 the Court requested briefing on the merits. Briefing concluded in January 2013. On June 28, 2013, the Court issued an order denying the petition for review; however, on December 13, 2013, the Court granted our motion for rehearing on that order and heard oral argument on our appeal on February 4, 2014. No assurances can be given as to the outcome of this appeal. We have accrued a loss contingency of approximately $68 million. We have funded a court-ordered $25 million escrow reserve for this legal proceeding.

Quarterly Financial Data (unaudited)

12 Months Ended

Dec. 31, 2013

Quarterly Financial Data (unaudited)

18.	Quarterly Financial Data (unaudited)

Effective January 1, 2013, we report quarterly operating results on a calendar cycle, which now is consistent across all of our hotel managers and the majority of companies in the lodging industry. Historically, our annual financial statements have been reported on a calendar basis and are unaffected by this change. However, our quarterly operating results had been reported based on a 52-53 week fiscal calendar used by Marriott International, Inc. (“Marriott”), the manager of approximately 50% of our properties. For 2013, Marriott converted to reporting results based on a 12-month calendar year. During 2012, Marriott used a fiscal year ending on the Friday closest to December 31 and reported twelve weeks of operations for the first three quarters and sixteen weeks for the fourth quarter of the year for its Marriott-managed hotels. Accordingly, our first three quarters of operations in 2012 ended on March 23, June 15 and September 7. In contrast, managers of our other hotels, such as Ritz-Carlton, Hyatt, and Starwood, reported results on a monthly basis. During 2012, we did not report the month of operations that ended after our fiscal quarter until the following quarter for those hotels using a monthly reporting period because these hotel managers did not make mid-month results available to us. Accordingly, the month of operations that ended after our fiscal quarter was included in our quarterly results of operations in the following quarter for those calendar reporting hotel managers. As a result, our 2012 quarterly results of operations include results from hotel managers reporting results on a monthly basis as follows: first quarter (January, February), second quarter (March to May), third quarter (June to August) and fourth quarter (September to December).

We did not restate the previously filed 2012 quarterly financial statements prepared in accordance with U.S. generally accepted accounting principles (“GAAP”) because certain property-level operating expenses for our Marriott-managed properties necessary to restate operations are unavailable on a daily basis. Because we rely upon our operators for the hotel operating results used in our financial statements, the unavailability of this information on a calendar quarter basis for 2012 made restating our financial statements in accordance with GAAP unfeasible. Accordingly, the corresponding 2012 quarterly historical operating results are not comparable to our 2013 quarterly operating results.

	2013
	First		Second		Third		Fourth
	Quarter		Quarter		Quarter		Quarter
	(in millions, except per share/unit amounts)
Host Hotels & Resorts, Inc.:
Revenues	$	1,225	$	1,399	$	1,211	$	1,331
Operating profit		90		205		79		138
Income from continuing operations		34		116		1		59
Income from discontinued operations		26		5		17		67
Net income		60		121		18		126
Net income attributable to Host Hotels & Resorts, Inc.		56		119		19		123
Basic earnings per common share:
Continuing operations		.04		.16		.01		.07
Discontinued operations		.04		—		.02		.09
Basic earnings per common share		.08		.16		.03		.16
Diluted earnings per common share:
Continuing operations		.04		.16		.01		.07
Discontinued operations		.04		—		.02		.09
Diluted earnings per common share		.08		.16		.03		.16
Host Hotels & Resorts, L.P.⁽¹⁾:
Net income attributable to Host Hotels & Resorts, L.P.		57		120		19		125
Basic earnings per common unit:
Continuing operations		.04		.15		.01		.08
Discontinued operations		.04		.01		.02		.09
Basic earnings per common unit		.08		.16		.03		.17
Diluted earnings per common unit:
Continuing operations		.04		.15		.01		.08
Discontinued operations		.04		.01		.02		.09
Diluted earnings per common unit		.08		.16		.03		.17

	2012
	First			Second		Third			Fourth
	Quarter			Quarter		Quarter			Quarter
	(in millions, except per share/unit amounts)
Host Hotels & Resorts, Inc.:
Revenues	$	929		$	1,308	$	1,149		$	1,673
Operating profit		16			175		63			108
Income (loss) from continuing operations		(54	)		79		(39	)		5
Income from discontinued operations		54			4		3			10
Net income (loss)		—			83		(36	)		15
Net income (loss) attributable to Host Hotels & Resorts, Inc.		(2	)		82		(34	)		15
Basic earnings (loss) per common share:
Continuing operations		(.08	)		.11		(.05	)		.01
Discontinued operations		.08			—		—			.01
Basic earnings (loss) per common share		—			.11		(.05	)		.02
Diluted earnings (loss) per common share:
Continuing operations		(.08	)		.11		(.05	)		.01
Discontinued operations		.08			—		—			.01
Diluted earnings (loss) per common share		—			.11		(.05	)		.02
Host Hotels & Resorts, L.P.⁽¹⁾:
Net income (loss) attributable to Host Hotels & Resorts, L.P.		(2	)		83		(35	)		16
Basic earnings (loss) per common unit:
Continuing operations		(.08	)		.11		(.05	)		.01
Discontinued operations		.08			.01		—			.01
Basic earnings (loss) per common unit		—			.12		(.05	)		.02
Diluted earnings (loss) per common unit:
Continuing operations		(.08	)		.11		(.05	)		.01
Discontinued operations		.08			.01		—			.01
Diluted earnings (loss) per common unit		—			.12		(.05	)		.02

(1)	Other income statement line items not presented for Host L.P. are equal to the amounts presented for Host Inc.

The sum of the basic and diluted earnings per common share and OP units for the four quarters in all years presented differs from the annual earnings per common share and OP units due to the required method of computing the weighted average number of shares and OP units in the respective periods.

Real Estate and Accumulated Depreciation

12 Months Ended

Dec. 31, 2013

Real Estate and Accumulated Depreciation

SCHEDULE III

Page 1 of 6

HOST HOTELS & RESORTS, INC., HOST HOTELS & RESORTS, L.P., AND SUBSIDIARIES

REAL ESTATE AND ACCUMULATED DEPRECIATION

December 31, 2013

(in millions)

	Initial Cost						Subsequent		Foreign		Gross Amount at December 31, 2013								Date of
					Buildings &		Costs		Currency				Buildings &				Accumulated		Completion of		Date		Depreciation
Description	Debt		Land		Improvements		Capitalized		Adjustment		Land		Improvements		Total		Depreciation		Construction		Acquired		Life
Hotels:
Atlanta Marriott Perimeter Center	$	—	$	15	$	7	$	35	$	—	$	15	$	42	$	57	$	25		—		1976		40
Atlanta Marriott Suites Midtown		—		—		26		9		—		—		35		35		17		—		1996		40
Boston Marriott Copley Place		—		—		203		64		—		—		267		267		96		—		2002		40
Calgary Marriott		—		5		18		17		—		5		35		40		20				1996		40
Chicago Marriott O'Hare		—		4		26		54		—		4		80		84		50		—		1998		40
Chicago Marriott Suites Downers Grove		—		2		14		7		—		2		21		23		11		—		1989		40
Chicago Marriott Suites O'Hare		—		5		36		9		—		5		45		50		19		—		1997		40
Coronado Island Marriott Resort & Spa		—		—		53		26		—		—		79		79		40		—		1997		40
Costa Mesa Marriott		—		3		18		7		—		3		25		28		13		—		1996		40
Courtyard Chicago Downtown/ River North		—		7		27		14		—		7		41		48		22		—		1992		40
Courtyard Nashua		—		3		14		5		—		2		20		22		14		—		1989		40
Dayton Marriott		—		2		30		8		—		2		38		40		16		—		1998		40
Delta Meadowvale Hotel & Conference Center		—		4		20		27		—		4		47		51		26		—		1996		40
Denver Marriott Tech Center Hotel		—		6		26		29		—		6		55		61		29		—		1994		40
Denver Marriott West		—		—		12		11		—		—		23		23		16		—		1983		40
Embassy Suites Chicago –Downtown/Lakefront		—		—		86		8		—		—		94		94		24		—		2004		40
Four Seasons Hotel Philadelphia		—		26		60		21		—		27		80		107		37		—		1998		40
Gaithersburg Marriott Washingtonian Center		—		7		22		12		—		7		34		41		17		—		1993		40
Grand Hyatt Atlanta in Buckhead		—		8		88		23		—		8		111		119		46		—		1998		40
Grand Hyatt Washington		—		154		247		12		—		154		259		413		14		—		2012		33
Greensboro-Highpoint Marriott Airport		—		—		19		13		—		—		32		32		18		—		1983		40
Harbor Beach Marriott Resort & Spa		150		—		62		101		—		—		163		163		86		—		1997		40

HOST HOTELS & RESORTS, INC., HOST HOTELS & RESORTS, L.P., AND SUBSIDIARIES

REAL ESTATE AND ACCUMULATED DEPRECIATION (continued)

December 31, 2013

(in millions)

	Initial Cost						Subsequent		Foreign			Gross Amount at December 31, 2013								Date of
					Buildings &		Costs		Currency					Buildings &				Accumulated		Completion of		Date		Depreciation
Description	Debt		Land		Improvements		Capitalized		Adjustment			Land		Improvements		Total		Depreciation		Construction		Acquired		Life
Hilton Melbourne South Wharf		71		—		136		4		(30	)		—		110		110		11		—		2011		31
Hilton Singer Island Oceanfront Resort		—		2		10		20		—			2		30		32		16		—		1986		40
Houston Airport Marriott at George Bush Intercontinental		—		—		10		39		—			—		49		49		42		—		1984		40
Houston Marriott at the Texas Medical Center		—		—		19		19		—			—		38		38		23		—		1998		40
Hyatt Place Waikiki Beach		—		12		120		—		—			12		120		132		2		—		2013		34
Hyatt Regency Cambridge, Overlooking Boston		—		18		84		6		—			19		89		108		44		—		1998		40
Hyatt Regency Maui Resort & Spa		—		92		212		28		—			81		251		332		74		—		2003		40
Hyatt Regency Reston		100		11		78		21		—			12		98		110		41		—		1998		40
Hyatt Regency San Francisco Airport		—		16		119		53		—			20		168		188		69		—		1998		40
Hyatt Regency Washington on Capitol Hill		—		40		230		38		—			40		268		308		62		—		2006		40
JW Marriott Atlanta Buckhead		—		16		21		25		—			16		46		62		28		—		1990		40
JW Marriott Desert Springs Resort & Spa		—		13		143		132		—			13		275		288		122		—		1997		40
JW Marriott Hotel Rio de Janeiro		—		13		29		2		(12	)		9		23		32		2		—		2010		40
JW Marriott Houston		—		4		26		22		—			6		46		52		29		—		1994		40
JW Marriott Mexico City		—		11		35		15		—			10		51		61		37		—		1996		40
JW Marriott Washington, D.C.		—		26		98		44		—			26		142		168		64		—		2003		40
Kansas City Airport Marriott		—		—		8		25		—			—		33		33		29		—		1993		40
Key Bridge Marriott		—		—		38		31		—			—		69		69		62		—		1997		40
Manchester Grand Hyatt, San Diego		—		—		548		27		—			—		575		575		54		—		2011		35
Manhattan Beach Marriott		—		—		29		26		—			—		55		55		28		—		1997		40
Marina del Rey Marriott		—		—		13		24		—			—		37		37		20		—		1995		40
Marriott at Metro Center		—		20		24		25		—			20		49		69		27		—		1994		40
Memphis Marriott Downtown		—		—		16		37		—			—		53		53		26		—		1998		40

HOST HOTELS & RESORTS, INC., HOST HOTELS & RESORTS, L.P., AND SUBSIDIARIES

REAL ESTATE AND ACCUMULATED DEPRECIATION (continued)

December 31, 2013

(in millions)

	Initial Cost						Subsequent			Foreign		Gross Amount at December 31, 2013								Date of
					Buildings &		Costs			Currency				Buildings &				Accumulated		Completion of		Date		Depreciation
Description	Debt		Land		Improvements		Capitalized			Adjustment		Land		Improvements		Total		Depreciation		Construction		Acquired		Life
Miami Marriott Biscayne Bay		—		—		27		30			—		—		57		57		35		—		1998		40
Minneapolis Marriott City Center		—		—		27		42			—		—		69		69		48		—		1986		40
New Orleans Marriott		—		16		96		112			—		16		208		224		117		—		1996		40
New York Marriott Downtown		—		19		79		39			—		19		118		137		60		—		1997		40
New York Marriott Marquis		—		49		552		178			—		49		730		779		492		—		1986		40
Newark Liberty International Airport Marriott		—		—		30		26			—		—		56		56		29		—		1984		40
Newport Beach Marriott Bayview		—		6		14		9			—		6		23		29		13		—		1975		40
Newport Beach Marriott Hotel & Spa		100		11		13		110			—		8		126		134		73		—		1975		40
New Zealand Hotel Portfolio		87		34		105		(3	)		11		34		113		147		10		—		2011		35
Orlando World Center Marriott		—		18		157		356			—		29		502		531		204		—		1997		40
Park Ridge Marriott		—		—		20		12			—		—		32		32		15		—		1987		40
Philadelphia Airport Marriott		—		—		42		17			—		—		59		59		25		—		1995		40
Philadelphia Marriott Downtown		—		3		144		110			—		11		246		257		109		—		1995		40
Residence Inn Arlington Pentagon City		—		6		29		11			—		6		40		46		18		—		1996		40
San Antonio Marriott Rivercenter		—		—		86		83			—		—		169		169		77		—		1996		40
San Antonio Marriott Riverwalk		—		—		45		17			—		—		62		62		33		—		1995		40
San Cristobal Tower, Santiago		—		7		15		1			—		7		16		23		4		—		2006		40
San Diego Marriott Marquis & Marina		—		—		202		278			—		—		480		480		198		—		1996		40
San Diego Marriott Mission Valley		—		4		23		15			—		4		38		42		19		—		1998		40
San Francisco Marriott Fisherman’s Wharf		—		6		20		20			—		6		40		46		23		—		1994		40
San Francisco Marriott Marquis		—		—		278		110			—		—		388		388		219		—		1989		40

HOST HOTELS & RESORTS, INC., HOST HOTELS & RESORTS, L.P., AND SUBSIDIARIES

REAL ESTATE AND ACCUMULATED DEPRECIATION (continued)

December 31, 2013

(in millions)

	Initial Cost						Subsequent		Foreign			Gross Amount at December 31, 2013								Date of
					Buildings &		Costs		Currency					Buildings &				Accumulated		Completion of		Date		Depreciation
Description	Debt		Land		Improvements		Capitalized		Adjustment			Land		Improvements		Total		Depreciation		Construction		Acquired		Life
San Ramon Marriott		—		—		22		21		—			—		43		43		20		—		1996		40
Santa Clara Marriott		—		—		39		55		—			—		94		94		75		—		1989		40
Scottsdale Marriott at McDowell Mountains		—		8		48		7		—			8		55		63		13		—		2004		40
Scottsdale Marriott Suites Old Town		—		3		20		10		—			3		30		33		14		—		1988		40
Seattle Airport Marriott		—		3		42		20		—			3		62		65		39		—		1998		40
Sheraton Boston Hotel		—		42		262		50		—			42		312		354		71		—		2006		40
Sheraton Indianapolis Hotel at Keystone Crossing		—		3		51		27		—			3		78		81		16		—		2006		40
Sheraton Needham Hotel		—		5		27		12		—			5		39		44		9		—		1986		40
Sheraton New York Times Square Hotel		—		346		409		183		—			346		592		938		131		—		2006		40
Sheraton Parsippany Hotel		—		8		30		17		—			8		47		55		12		—		2006		40
Sheraton San Diego Hotel & Marina		—		—		328		31		—			—		359		359		76		—		2006		40
Sheraton Santiago Hotel & Convention Center		—		19		11		8		(1	)		19		18		37		7		—		2006		40
Swissôtel Chicago		—		29		132		82		—			30		213		243		73		—		1998		40
Tampa Airport Marriott		—		—		9		22		—			—		31		31		24		—		2000		40
Tampa Marriott Waterside Hotel & Marina		—		11		84		14		—			11		98		109		37		2000		—		40
The Fairmont Kea Lani, Maui		—		55		294		34		—			55		328		383		84		—		2003		40
The Ritz-Carlton, Amelia Island		—		25		115		69		—			25		184		209		76		—		1998		40
The Ritz-Carlton, Buckhead		—		14		81		63		—			15		143		158		72		—		1996		40
The Ritz-Carlton, Marina del Rey		—		—		52		26		—			—		78		78		41		—		1997		40
The Ritz-Carlton, Naples		201		19		126		129		—			21		253		274		122		—		1996		40
The Ritz-Carlton, Naples Golf Resort		—		22		10		67		—			22		77		99		22		2002		—		40
The Ritz-Carlton, Phoenix		—		10		63		8		—			10		71		81		31		—		1998		40
The Ritz-Carlton, Tysons Corner		—		—		89		19		—			—		108		108		47		—		1998		40
The St. Regis Houston		—		6		33		18		—			6		51		57		15		—		2006		40

HOST HOTELS & RESORTS, INC., HOST HOTELS & RESORTS, L.P., AND SUBSIDIARIES

REAL ESTATE AND ACCUMULATED DEPRECIATION (continued)

December 31, 2013

(in millions)

	Initial Cost						Subsequent			Foreign			Gross Amount at December 31, 2013								Date of
					Buildings &		Costs			Currency					Buildings &				Accumulated		Completion of		Date		Depreciation
Description	Debt		Land		Improvements		Capitalized			Adjustment			Land		Improvements		Total		Depreciation		Construction		Acquired		Life
The Westin Buckhead Atlanta		—		5		84		25			—			6		108		114		44		—		1998		40
The Westin Chicago River North		—		33		116		2			—			33		118		151		10		—		2010		40
The Westin Cincinnati		—		—		54		13			—			—		67		67		17		—		2006		40
The Westin Denver Downtown		—		—		89		12			—			—		101		101		22		—		2006		40
The Westin Georgetown, Washington, D.C.		—		16		80		14			—			16		94		110		23		—		2006		40
The Westin Indianapolis		—		12		100		8			—			12		108		120		24		—		2006		40
The Westin Kierland Resort & Spa		—		100		280		21			—			100		301		401		57		—		2006		40
The Westin Los Angeles Airport		—		—		102		15			—			—		117		117		28		—		2006		40
The Westin Mission Hills Resort & Spa		—		40		47		(41	)		—			13		33		46		17		—		2006		40
The Westin New York Grand Central		—		156		152		75			—			156		227		383		32		—		2011		40
The Westin Seattle		—		39		175		23			—			39		198		237		39		—		2006		40
The Westin South Coast Plaza, Costa Mesa		—		—		46		10			—			—		56		56		25		—		2006		40
The Westin Waltham-Boston		—		9		59		11			—			9		70		79		16		—		2006		40
Toronto Marriott Downtown Eaton Centre Hotel		—		—		27		19			—			—		46		46		25		—		1995		40
W New York		—		138		102		64			—			138		166		304		43		—		2006		40
W New York – Union Square		—		48		145		7			—			48		152		200		14		—		2010		40
W Seattle		—		11		125		5			—			11		130		141		25		—		2006		40
Washington Dulles Airport Marriott		—		—		3		37			—			—		40		40		33		—		1970		40
Westfields Marriott Washington Dulles		—		7		32		16			—			7		48		55		27		—		1994		40
Total hotels:		709		1,966		9,359		4,076			(32	)		1,952		13,417		15,369		5,037
Other properties, each less than 5% of total		—		21		4		17			(3	)		21		18		39		11		—		various		40
TOTAL	$	709	$	1,987	$	9,363	$	4,093		$	(35	)	$	1,973	$	13,435	$	15,408	$	5,048

HOST HOTELS & RESORTS, INC., AND SUBSIDIARIES

HOST HOTELS & RESORTS, L.P., AND SUBSIDIARIES

REAL ESTATE AND ACCUMULATED DEPRECIATION

December 31, 2013

(in millions)

Notes:

(A)	The change in total cost of properties for the fiscal years ended December 31, 2013, 2012 and 2011 is as follows:

Balance at December 31, 2010	$	13,749
Additions:
Acquisitions		1,155
Capital expenditures and transfers from construction-in-progress		338
Deductions:
Dispositions and other		(214	)
Impairments		(8	)
Balance at December 31, 2011		15,020
Additions:
Acquisitions		427
Capital expenditures and transfers from construction-in-progress		443
Deductions:
Dispositions and other		(172	)
Impairments		(57	)
Balance at December 31, 2012		15,661
Additions:
Acquisitions		184
Capital expenditures and transfers from construction-in-progress		353
Deductions:
Dispositions and other		(789	)
Impairments		(1	)
Balance at December 31, 2013	$	15,408

(B)	The change in accumulated depreciation and amortization of real estate assets for the fiscal years ended December 31, 2013, 2012 and 2011 is as follows:

Balance at December 31, 2010	$	3,834
Depreciation and amortization		496
Dispositions and other		(24	)
Balance at December 31, 2011		4,306
Depreciation and amortization		537
Dispositions and other		(75	)
Balance at December 31, 2012		4,768
Depreciation and amortization		550
Dispositions and other		(270	)
Balance at December 31, 2013	$	5,048

(C)	The aggregate cost of real estate for federal income tax purposes is approximately $10,745 million at December 31, 2013.

(D)	The total cost of properties excludes construction-in-progress properties.

Summary of Significant Accounting Policies (Policies)

12 Months Ended

Dec. 31, 2013

Basis of Presentation and Principles of Consolidation

Use of Estimates in the Preparation of Financial Statements

Cash and Cash Equivalents

We consider all highly liquid investments with a maturity of three months or less at the date of purchase to be cash equivalents.

Restricted Cash

Property and Equipment

We maintain a furniture, fixtures and equipment replacement fund for renewal and replacement capital expenditures at certain hotels, which generally is funded with 5% of property revenues.

Intangible Assets and Liabilities

Non-Controlling Interests

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

	As of December 31,
	2013		2012
OP units outstanding (millions)		9.5		9.9
Market price per Host Inc. common share	$	19.44	$	15.67
Shares issuable upon conversion of one OP unit		1.021494		1.021494
Redemption value (millions)	$	190	$	158
Historical cost (millions)		95		96
Book value (millions) ⁽¹⁾		190		158

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

Distributions from Investments in Affiliates

Income Taxes

Deferred Charges

Financing costs related to long-term debt are deferred and amortized over the remaining life of the debt using the effective interest method.

Foreign Currency Translation

Derivative Instruments

Accumulated Other Comprehensive Income (Loss)

The components of total accumulated other comprehensive income (loss) in the balance sheets are as follows (in millions):

	As of December 31,
	2013			2012
Gain on foreign currency forward contracts	$	—		$	5
Loss on interest rate swap cash flow hedges		(2	)		(4	)
Foreign currency translation		(7	)		11
Total accumulated other comprehensive income (loss)	$	(9	)	$	12

Earnings (Loss) Per Common Share

Fair Value Measurement

Level 3 — Unobservable inputs reflect our assumptions about the pricing of an asset or liability when observable inputs are not available.

Host Inc. Earnings (Loss) Per Common Share

Earnings (Loss) Per Common Unit

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

Share-Based Payments

Concentrations of Credit Risk

Business Combinations

Reclassifications

Certain prior year financial statement amounts have been reclassified to conform with the current year presentation.

Summary of Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2013

Consolidated Portfolio of Hotels by Location

As of December 31, 2013, the hotels in our consolidated portfolio are located in the following countries:

	Hotels
United States		100
Australia		1
Brazil		1
Canada		3
Chile		2
Mexico		1
New Zealand		7
Total		115

Historical Cost and Redemption Values for the Non-Controlling Interests

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

	As of December 31,
	2013		2012
OP units outstanding (millions)		9.5		9.9
Market price per Host Inc. common share	$	19.44	$	15.67
Shares issuable upon conversion of one OP unit		1.021494		1.021494
Redemption value (millions)	$	190	$	158
Historical cost (millions)		95		96
Book value (millions) ⁽¹⁾		190		158

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

Components of Total Accumulated Other Comprehensive Income in the Balance Sheets

The components of total accumulated other comprehensive income (loss) in the balance sheets are as follows (in millions):

	As of December 31,
	2013			2012
Gain on foreign currency forward contracts	$	—		$	5
Loss on interest rate swap cash flow hedges		(2	)		(4	)
Foreign currency translation		(7	)		11
Total accumulated other comprehensive income (loss)	$	(9	)	$	12

Earnings Per Common Share (Unit)

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

The calculation of basic and diluted earnings (loss) per common unit is shown below (in million, except per unit amounts):

	Year ended December 31,
	2013			2012			2011
Net income (loss)	$	325		$	63		$	(16	)
Less: Net (income) loss attributable to non-controlling interests		(4	)		(1	)		1
Net income (loss) attributable to Host L.P.	$	321		$	62		$	(15	)
Diluted income (loss) attributable to Host L.P.	$	322		$	62		$	(15	)

Basic weighted average shares outstanding		738.4			713.3			688.9
Diluted weighted average shares outstanding ⁽¹⁾		741.9			714.6			688.9

Basic earnings (loss) per common unit	$	.43		$	.09		$	(.02	)
Diluted earnings (loss) per common unit	$	.43		$	.09		$	(.02	)

(1)

European Joint Venture

Consolidated Portfolio of Hotels by Location

As of December 31, 2013, the Euro JV hotels are located in the following countries:

	Hotels
Belgium		3
France		4
Germany		1
Italy		3
Poland		1
Spain		2
Sweden		1
The Netherlands		2
United Kingdom		2
Total		19

HOST HOTELS & RESORTS, INC.

Earnings Per Common Share (Unit)

Host Inc. Earnings (Loss) Per Common Share

The calculation of basic and diluted earnings (loss) per common share is shown below (in million, except per share amounts):

	Year ended December 31,
	2013			2012			2011
Net income (loss)	$	325		$	63		$	(16	)
Less: Net (income) loss attributable to non-controlling interests		(8	)		(2	)		1
Net income (loss) attributable to Host Inc.	$	317		$	61		$	(15	)
Diluted income (loss) attributable to Host Inc.	$	317		$	61		$	(15	)

Basic weighted average shares outstanding		744.4			718.2			693.0
Diluted weighted average shares outstanding ⁽¹⁾		747.9			719.6			693.0

Basic earnings (loss) per common share	$	.43		$	.08		$	(.02	)
Diluted earnings (loss) per common share	$	.42		$	.08		$	(.02	)

Property and Equipment (Tables)

12 Months Ended

Dec. 31, 2013

Property and Equipment

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

	As of December 31,
	2013			2012
Land and land improvements	$	1,973		$	1,996
Buildings and leasehold improvements		13,435			13,665
Furniture and equipment		2,223			2,227
Construction in progress		176			199
		17,807			18,087
Less accumulated depreciation and amortization		(6,812	)		(6,499	)
	$	10,995		$	11,588

Investment in Affiliates (Tables)

12 Months Ended

Dec. 31, 2013

Summary of Investments in Affiliates

	As of December 31, 2013
	Ownership			Our		Our Portion
	Interests			Investment		of Debt		Total Debt		Assets
Euro JV	32.1% - 33.4		%	$	374	$	444	$	1,363	Nineteen hotels in Europe
Asia/Pacific JV		25	%		20		10		39	One hotel in Australia and a 36% interest in two operating hotels and five hotels under development in India
Maui JV		67	%		16		34		50	131-unit vacation ownership project in Maui, Hawaii
Hyatt Place JV		50	%		5		12		24	One hotel in Nashville, Tennessee
Total				$	415	$	500	$	1,476

	As of December 31, 2012
	Ownership			Our		Our Portion
	Interests			Investment		of Debt		Total Debt		Assets
Euro JV	32.1% - 33.4		%	$	305	$	443	$	1,360	Nineteen hotels in Europe
Asia/Pacific JV		25	%		22		11		44	One hotel in Australia and a 36% interest in two operating hotels and five hotels under development in India
Maui JV		67	%		15		7		10	131-unit vacation ownership project in Maui, Hawaii
Hyatt Place JV		50	%		5		—		—	One hotel under development in Nashville, Tennessee
Total				$	347	$	461	$	1,414

Combined Summarized Balance Sheet Information

Combined Financial Information of Unconsolidated Investees

Combined summarized balance sheet information for our affiliates is as follows (in millions):

	As of December 31,
	2013		2012
Property and equipment, net	$	2,480	$	2,289
Other assets		376		312
Total assets	$	2,856	$	2,601
Debt	$	1,476	$	1,414
Other liabilities		135		164
Equity		1,245		1,023
Total liabilities and equity	$	2,856	$	2,601

Combined Summarized Operating Results For Affiliates

Combined summarized operating results for our affiliates is as follows (in millions):

	Year ended December 31,
	2013			2012			2011
Total revenues	$	617		$	428		$	381
Operating expenses
Expenses		(473	)		(346	)		(294	)
Depreciation and amortization		(112	)		(56	)		(46	)
Operating profit		32			26			41
Interest expense		(59	)		(43	)		(43	)
Gain on disposition		2			—			—
Net loss	$	(25	)	$	(17	)	$	(2	)

Debt (Tables)

12 Months Ended

Dec. 31, 2013

Debt

Debt consists of the following (in millions):

	As of December 31,
	2013		2012
Series Q senior notes, with a rate of 6¾% due June 2016	$	150	$	550
Series T senior notes, with a rate of 9% due May 2017		—		391
Series V senior notes, with a rate of 6% due November 2020		500		500
Series X senior notes, with a rate of 5⅞% due June 2019		497		497
Series Z senior notes, with a rate of 6% due October 2021		300		300
Series B senior notes, with a rate of 5¼% due March 2022		350		350
Series C senior notes, with a rate of 4¾% due March 2023		450		450
Series D senior notes, with a rate of 3¾% due October 2023		400		—
2004 Exchangeable Senior Debentures, with a rate of 3¼% due April 2024		—		175
2009 Exchangeable Senior Debentures, with a rate of 2½% due October 2029		371		356
Total senior notes		3,018		3,569
Credit facility revolver		446		263
Credit facility term loan due July 2017		500		500
Mortgage debt (non-recourse), with an average interest rate of 4.1% and 4.5% at December 31, 2013 and 2012, respectively, maturing through January 2024		709		993
Other		86		86
Total debt	$	4,759	$	5,411

Interest Expense

The following items are included in interest expense (in millions):

	Year ended December 31,
	2013⁽¹⁾			2012⁽¹⁾			2011⁽¹⁾
Interest expense	$	304		$	373		$	371
Amortization of debt premiums/discounts, net ⁽²⁾		(15	)		(18	)		(32	)
Amortization of deferred financing costs		(10	)		(12	)		(11	)
Non-cash losses on debt extinguishments		(13	)		(9	)		(4	)
Change in accrued interest		16			4			(4	)
Interest paid ⁽³⁾	$	282		$	338		$	320

(1)	Interest expense and interest paid for 2013, 2012 and 2011 includes cash prepayment premiums of approximately $23 million, $21 million and $5 million, respectively.

(2)	Primarily represents the amortization of the debt discount on our Debentures, which is non-cash interest expense.

(3)	Does not include capitalized interest of $6 million, $6 million and $4 million during 2013, 2012 and 2011, respectively.

Mortgage Debt Issuances and Repayments

We had the following mortgage debt issuances and repayments since January 2012:

					Maturity
Transaction Date	Property	Rate			Date	Amount
Issuances/Assumptions						(in millions)
December 2013	Harbor Beach Marriott Resort & Spa		4.75	%	1/1/2024	$	150
June 2012	Hyatt Regency Reston ⁽¹⁾		3.3	%	7/1/2016		100
Repayments
December 2013	Harbor Beach Marriott Resort & Spa		5.55	%	3/1/2014		(134	)
December 2013	The Westin Denver Downtown		8.51	%	12/11/2023		(31	)
May 2013	Orlando World Center Marriott		4.75	%	7/1/2013		(246	)
April 2012	JW Marriott, Washington, D.C. ⁽²⁾		7.5	%	4/2/2013		(113	)

(1)	The floating interest rate is equal to 1-month LIBOR plus 310 basis points. The rate shown reflects the rate in effect at December 31, 2013. We have the option to extend the maturity for one year, subject to certain conditions.

(2)	We prepaid the mortgage including an exit fee of $1 million.

Aggregate Debt Maturities

Aggregate debt maturities are as follows (in millions):

	As of
	December 31, 2013
2014	$	332
2015 ⁽¹⁾		858
2016 ⁽²⁾		408
2017		540
2018		-
Thereafter		2,650
		4,788
Unamortized (discounts) premiums, net		(32	)
Fair value hedge adjustment		1
Capital lease obligations		2
	$	4,759

(1)Includes $225 million outstanding under the credit facility that was repaid in January 2014.

(2)Includes $150 million Series Q senior notes that were repaid in February 2014.

Convertible Debt

Interest Expense

Interest expense recorded for our exchangeable senior debentures (including interest expense for debentures redeemed in 2013 and 2012) consists of the following (in millions):

	Year ended December 31,
	2013		2012		2011
Contractual interest expense (cash)	$	10	$	19	$	31
Non-cash interest expense due to discount amortization		15		17		31
Total interest expense	$	25	$	36	$	62

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

12 Months Ended

Dec. 31, 2013

Common Dividends Declared Per Share

The table below presents the amount of common dividends declared per share and common distributions per unit as follows:


	Year ended December 31,
	2013		2012		2011
Common stock	$	.46	$	.30	$	.14
Common OP units		.470		.306		.143

Income Taxes (Tables)

12 Months Ended

Dec. 31, 2013

Primary Components of Net Deferred Tax Asset

	As of December 31,
Deferred tax assets	2013			2012
Accrued related party interest	$	19		$	17
Net operating loss and capital loss carryovers		85			101
Alternative minimum tax credits		5			4
Property and equipment		4			4
Investments in domestic affiliates		3			3
Other		1			2
Deferred revenue		57			54
Total gross deferred tax assets		174			185
Less: Valuation allowance		(61	)		(63	)
Total deferred tax assets, net of valuation allowance	$	113		$	122
Deferred tax liabilities
Property and equipment		(21	)		(23	)
Investments in domestic and foreign affiliates		(6	)		(6	)
Other		(3	)		(3	)
Total gross deferred tax liabilities		(30	)		(32	)
Net deferred tax assets	$	83		$	90

Income (Loss) From Continuing Operations Before Income Taxes

Our U.S. and foreign income (loss) from continuing operations before income taxes was as follows (in millions):

	Year ended December 31,
	2013		2012			2011
U.S. income (loss)	$	213	$	(22	)	$	(60	)
Foreign income		18		45			32
Total	$	231	$	23		$	(28	)

Provision (Benefit) for Income Taxes for Continuing Operations

The provision (benefit) for income taxes for continuing operations consists of (in millions):

		Year ended December 31,
		2013		2012		2011
Current	—Federal	$	2	$	3	$	1
	—State		4		1		1
	—Foreign		9		10		8
			15		14		10
Deferred	—Federal		4		11		(11	)
	—State		1		1		(2	)
	—Foreign		1		5		2
			6		17		(11	)
Income tax provision (benefit) – continuing operations		$	21	$	31	$	(1	)

Income Tax (Benefit) Provision Calculated at Statutory U.S. Federal Income Tax Rate and Actual Income Tax (Benefit) Provision Recorded

	Year ended December 31,
	2013			2012		2011
Statutory federal income tax provision (benefit) – continuing operations	$	81		$	8	$	(10	)
Adjustment for nontaxable (income) loss of Host Inc. – continuing operations		(77	)		4		—
State income tax provision (benefit), net		5			2		(1	)
Provision for uncertain tax positions		2			2		—
Foreign income tax provision		10			15		10
Income tax provision (benefit) – continuing operations	$	21		$	31	$	(1	)

Unrecognized Tax Benefits Reconciliation

A reconciliation of the beginning and ending amount of unrecognized tax benefits is as follows (in millions):

	2013		2012
Balance at January 1	$	3	$	5
Reduction due to expiration of certain statutes of limitation		—		(4	)
Other increases (decreases)		2		2
Balance at December 31	$	5	$	3

Leases (Tables)

12 Months Ended

Dec. 31, 2013

Future Minimum Annual Rental Commitments Required Under Non-Cancelable Leases

The following table presents the future minimum annual rental commitments required under non-cancelable leases for which we are the lessee (in millions):

	As of December 31, 2013
	Capital		Operating
	Leases		Leases
2014	$	1	$	45
2015		1		43
2016		—		42
2017		—		42
2018		—		41
Thereafter		—		1,591
Total minimum lease payments	$	2	$	1,804

Rent Expense

Rent expense is included in other property-level expenses on our consolidated statements of operations and consists of (in millions):

	Year ended December 31,
	2013			2012			2011
Minimum rentals on operating leases	$	50		$	117		$	114
Additional rentals based on sales		32			31			26
Rental payments based on real estate tax assessments		24			23			22
Less: sublease rentals		(3	)		(3	)		(3	)
	$	103		$	168		$	159

Employee Stock Plans (Tables)

12 Months Ended

Dec. 31, 2013

Summary of Status of Senior Executive Plans

	Year ended December 31,
	2013					2012					2011
	Shares			Fair Value		Shares			Fair Value		Shares			Fair Value
	(in millions)			(per share)		(in millions)			(per share)		(in millions)			(per share)
Balance, at beginning of year		—		$	—		—		$	—		3.7		$	11
Granted		1.7			16		1.6			14		0.1			17
Vested ⁽¹⁾		(0.8	)		19		(0.6	)		16		(1.3	)		15
Forfeited/expired		(0.9	)		19		(1.0	)		16		(2.5	)		15
Balance, at end of year		—			—		—			—		—		—
Issued in calendar year ⁽¹⁾		0.3			19		0.8			16		1.1			15

(1)

Dispositions (Tables)

12 Months Ended

Dec. 31, 2013

Revenues, Income (Loss) Before Taxes, and Gain on Dispositions, Net of Tax in Discontinued Operations

	Year ended December 31,
	2013		2012		2011
Revenues	$	104	$	264	$	288
Income before taxes		22		24		11
Gain on disposals, net of tax		97		48		—

Net Income (Loss) Attributable to Host Inc.

Net income (loss) attributable to Host Inc. is allocated between continuing and discontinued operations as follows (in millions):

	Year ended December 31,
	2013		2012			2011
Continuing operations, net of tax	$	203	$	(10	)	$	(26	)
Discontinued operations, net of tax		114		71			11
Net income (loss) attributable to Host Inc.	$	317	$	61		$	(15	)

Net Income (Loss) Attributable to Host L.P.

Net income (loss) attributable to Host L.P. is allocated between continuing and discontinued operations as follows (in millions):

	Year ended December 31,
	2013		2012			2011
Continuing operations, net of tax	$	206	$	(9	)	$	(26	)
Discontinued operations, net of tax		115		71			11
Net income (loss) attributable to Host L.P.	$	321	$	62		$	(15	)

Tabular disclosure of disposal groups, which may include 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 classification and carrying value of the assets and liabilities comprising the disposal group, and the segment in which the disposal group was reported. Also may include the amount of adjustments to amounts previously reported in discontinued operations such as resolution of contingencies arising from the disposal transaction or the operations of the component prior to disposal.

Estimated Fair Value of Assets Acquired and Liabilities Assumed in Acquisitions

Acquisitions (Tables)

12 Months Ended

Dec. 31, 2013

The following table summarizes the estimated fair value of the assets acquired and liabilities assumed for our 2013 and 2012 hotel acquisitions (in millions):

	As of December 31,
	2013		2012
Property and equipment	$	138	$	409
Restricted cash, FF&E reserves and other assets		1		9
Total assets		139		418
Other liabilities		—		(1	)
Net assets acquired	$	139	$	417

Summary of Unaudited Consolidated Pro Forma Results of Operations

	Year ended December 31,
	2013		2012
Revenues	$	5,185	$	5,136
Income from continuing operations		214		12
Net income		329		83

Host Inc.:
Net income attributable to Host Inc.	$	321	$	81

Basic earnings per common share:
Continuing operations	$	.27	$	.02
Discontinued operations		.16		.09
Basic earnings per common share	$	.43	$	.11

Diluted earnings per common share:
Continuing operations	$	.28	$	.02
Discontinued operations		.15		.09
Diluted earnings per common share	$	.43	$	.11

Host L.P.:
Net income attributable to Host L.P.	$	325	$	82

Basic earnings per common unit:
Continuing operations	$	.29	$	.01
Discontinued operations		.15		.10
Basic earnings per common unit	$	.44	$	.11

Diluted earnings per common unit:
Continuing operations	$	.29	$	.01
Discontinued operations		.15		.10
Diluted earnings per common unit	$	.44	$	.11

Fair Value Measurements (Tables)

12 Months Ended

Dec. 31, 2013

Fair Value of Financial Assets and Liabilities

	Fair Value at Measurement Date Using
				Quoted Prices		Significant
				in Active		Other			Significant
	Balance at			Markets for		Observable			Unobservable
	December 31,			Identical Assets		Inputs			Inputs
	2013			(Level 1)		(Level 2)			(Level 3)
Fair Value Measurements on a Recurring Basis:
Assets
Interest rate swap derivatives ⁽¹⁾	$	1		$	—	$	1		$	—
Foreign currency forward sale contracts⁽¹⁾		3			—		3			—
Liabilities
Interest rate swap derivatives⁽¹⁾		(3	)		—		(3	)		—
Foreign currency forward sale contracts ⁽¹⁾		(6	)		—		(6	)		—

Fair Value Measurements on a Non-recurring Basis:
Impaired hotel properties held and used⁽²⁾		9			—		—			9

	Fair Value at Measurement Date Using
				Quoted Prices		Significant
				in Active		Other			Significant
	Balance at			Markets for		Observable			Unobservable
	December 31,			Identical Assets		Inputs			Inputs
	2012			(Level 1)		(Level 2)			(Level 3)
Fair Value Measurements on a Recurring Basis:
Assets
Interest rate swap derivatives ⁽¹⁾	$	7		$	—	$	7		$	—
Foreign currency forward sale contracts⁽¹⁾		5			—		5			—
Liabilities
Interest rate swap derivatives ⁽¹⁾		(6	)		—		(6	)		—

Fair Value Measurements on a Non-recurring Basis:
Impaired hotel properties held and used ⁽²⁾		34			—		—			34

(1)	These derivative contracts have been designated as hedging instruments.

(2)	The fair value measurements are as of the measurement date of the impairment and may not reflect the book value as of December 31, 2013 and December 31, 2012, respectively.

Interest Rate Swap Derivatives Designated as Cash Flow Hedges


							Change in Fair Value
	Total						Gain (Loss)
Transaction	Notional		Maturity	Swapped			Year ended December 31,
Date	Amount		Date	Index	All-in-Rate		2013		2012
November 2011 ⁽¹⁾	A$	62	November 2016	Reuters BBSY	6.7	%	$	1	$	(2)
February 2011⁽²⁾	NZ$	79	February 2016	NZ$ Bank Bill	7.15	%	$	2	$	—

(1)	The swap was entered into in connection with the A$82 million ($71 million) mortgage loan on the Hilton Melbourne South Wharf.

(2)	The swap was entered into in connection with the NZ$105 million ($87 million) mortgage loan on seven properties in New Zealand.

Foreign Currency Sale Contracts

Currently Outstanding

Change in Fair Value - All Contracts

Total

Transaction

Total

Amount in

Transaction

Forward

Gain (Loss)

Transaction

Foreign

Amount

Purchase

Year ended December 31,

Date Range

Currency

in Dollars

Date Range

2013

2012

May 2008-January 2013

€

120

163

May 2014-January 2016

)

Draws on Credit Facility that are Designated as Net Investments in International Operations

	Balance		Balance		Gain (Loss)
	Outstanding		Outstanding in		Year ended December 31,
Currency	US$		Foreign Currency		2013		2012
Canadian dollars ⁽¹⁾	$	29	C$	31	$	2	$	—
Euros	$	102	€	74	$	(5)	$	(2)

(1)	We have drawn an additional $71 million on the credit facility in Canadian dollars that has not been designated as a hedging instrument.

Fair Values of Certain Financial Liabilities and Other Financial Instruments

	As of December 31,
	2013				2012
	Carrying		Fair		Carrying		Fair
	Amount		Value		Amount		Value
Financial liabilities
Senior notes (Level 1)	$	2,647	$	2,766	$	3,038	$	3,296
Exchangeable Senior Debentures (Level 1)		371		603		531		725
Credit facility (Level 2)		946		946		763		763
Mortgage debt and other, excluding capital leases (Level 2)		793		802		1,078		1,094

Geographic and Business Segment Information (Tables)

12 Months Ended

Dec. 31, 2013

Revenues and Long-Lived Assets by Geographical Area

	2013				2012				2011
			Property and				Property and				Property and
	Revenues		Equipment, net		Revenues		Equipment, net		Revenues		Equipment, net
United States	$	4,895	$	10,498	$	4,791	$	11,095	$	4,461	$	10,874
Australia		40		106		42		133		27		136
Brazil		30		76		33		39		33		42
Canada		97		89		95		97		92		126
Chile		34		54		37		63		28		58
Mexico		24		32		25		26		24		23
New Zealand		46		140		36		135		32		124
United Kingdom		—		—		—		—		17		—
Total	$	5,166	$	10,995	$	5,059	$	11,588	$	4,714	$	11,383

Quarterly Financial Data (unaudited) (Tables)

12 Months Ended

Dec. 31, 2013

Quarterly Financial Data

	2013
	First		Second		Third		Fourth
	Quarter		Quarter		Quarter		Quarter
	(in millions, except per share/unit amounts)
Host Hotels & Resorts, Inc.:
Revenues	$	1,225	$	1,399	$	1,211	$	1,331
Operating profit		90		205		79		138
Income from continuing operations		34		116		1		59
Income from discontinued operations		26		5		17		67
Net income		60		121		18		126
Net income attributable to Host Hotels & Resorts, Inc.		56		119		19		123
Basic earnings per common share:
Continuing operations		.04		.16		.01		.07
Discontinued operations		.04		—		.02		.09
Basic earnings per common share		.08		.16		.03		.16
Diluted earnings per common share:
Continuing operations		.04		.16		.01		.07
Discontinued operations		.04		—		.02		.09
Diluted earnings per common share		.08		.16		.03		.16
Host Hotels & Resorts, L.P.⁽¹⁾:
Net income attributable to Host Hotels & Resorts, L.P.		57		120		19		125
Basic earnings per common unit:
Continuing operations		.04		.15		.01		.08
Discontinued operations		.04		.01		.02		.09
Basic earnings per common unit		.08		.16		.03		.17
Diluted earnings per common unit:
Continuing operations		.04		.15		.01		.08
Discontinued operations		.04		.01		.02		.09
Diluted earnings per common unit		.08		.16		.03		.17

	2012
	First			Second		Third			Fourth
	Quarter			Quarter		Quarter			Quarter
	(in millions, except per share/unit amounts)
Host Hotels & Resorts, Inc.:
Revenues	$	929		$	1,308	$	1,149		$	1,673
Operating profit		16			175		63			108
Income (loss) from continuing operations		(54	)		79		(39	)		5
Income from discontinued operations		54			4		3			10
Net income (loss)		—			83		(36	)		15
Net income (loss) attributable to Host Hotels & Resorts, Inc.		(2	)		82		(34	)		15
Basic earnings (loss) per common share:
Continuing operations		(.08	)		.11		(.05	)		.01
Discontinued operations		.08			—		—			.01
Basic earnings (loss) per common share		—			.11		(.05	)		.02
Diluted earnings (loss) per common share:
Continuing operations		(.08	)		.11		(.05	)		.01
Discontinued operations		.08			—		—			.01
Diluted earnings (loss) per common share		—			.11		(.05	)		.02
Host Hotels & Resorts, L.P.⁽¹⁾:
Net income (loss) attributable to Host Hotels & Resorts, L.P.		(2	)		83		(35	)		16
Basic earnings (loss) per common unit:
Continuing operations		(.08	)		.11		(.05	)		.01
Discontinued operations		.08			.01		—			.01
Basic earnings (loss) per common unit		—			.12		(.05	)		.02
Diluted earnings (loss) per common unit:
Continuing operations		(.08	)		.11		(.05	)		.01
Discontinued operations		.08			.01		—			.01
Diluted earnings (loss) per common unit		—			.12		(.05	)		.02

(1)	Other income statement line items not presented for Host L.P. are equal to the amounts presented for Host Inc.

Supplemental Schedule of Noncash Investing and Financing Activities (Host Hotels & Resorts, Inc) - Additional Information (Detail) £ in Millions, shares in Millions, $ in Millions, $ in Millions	1 Months Ended							12 Months Ended
	Apr. 30, 2013 USD ($)	Mar. 31, 2013 USD ($) shares	Nov. 09, 2012 USD ($)	Jun. 30, 2011 USD ($) shares	Jun. 28, 2011 USD ($)	Jun. 28, 2011 GBP (£)	Mar. 17, 2011 USD ($) shares	Dec. 31, 2013 USD ($) shares	Dec. 31, 2012 USD ($) shares	Dec. 31, 2011 USD ($) shares	Jun. 28, 2011 GBP (£)	Apr. 29, 2011 USD ($)	Apr. 29, 2011 AUD ($)
Other Significant Noncash Transactions [Line Items]
Shares issued for converted units, shares \| shares								0.3	0.6	0.3
Redemptions of limited partner interests for common stock								$ 6	$ 10	$ 5
Contributed land			$ 36
Investment in joint venture								415	347
Gain on sale of the land	$ 21							33	13	$ 7
Cash received on land contribution	$ 24
Fund II
Other Significant Noncash Transactions [Line Items]
Investment ownership percentage					33.40%						33.40%
Manchester Grand Hyatt San Diego \| Common Units
Other Significant Noncash Transactions [Line Items]
OP Units exchanged for ownership right, units \| shares							0.3
OP Units exchanged for ownership right, value							$ 6
Le Meridien Piccadilly
Other Significant Noncash Transactions [Line Items]
Contributed land					$ 102	£ 64
Mortgage debt assumed					52	32
Capital lease transferred					61						£ 38
Proceeds from transfer of Le Meridien Piccadilly to the Euro JV Fund II					$ 40	£ 25
Hilton Melbourne South Wharf
Other Significant Noncash Transactions [Line Items]
Common voting interest acquired												75.00%	75.00%
Mortgage debt assumed in connection with acquisition												$ 86	$ 80
Exchangeable Senior Debentures 3.25%
Other Significant Noncash Transactions [Line Items]
Exchangeable Debentures		$ 174		$ 134
Debt interest rate		3.25%		3.25%
Debt converted into shares of Host Inc. common stock \| shares		11.7		8.8
Maui JV
Other Significant Noncash Transactions [Line Items]
Contributed land			11
Investment in joint venture			$ 8					$ 16	$ 15
Investment ownership percentage			67.00%					67.00%	67.00%
Gain on sale of the land									$ 8
Cash received on land contribution			$ 12
Maui JV \| Hyatt Residential Group
Other Significant Noncash Transactions [Line Items]
Equity method investment outside ownership percentage			33.00%
Maui JV \| Fair Value
Other Significant Noncash Transactions [Line Items]
Contributed land			$ 36

Supplemental Schedule of Noncash Investing and Financing Activities (HOST HOTELS & RESORTS, L.P.) - Additional Information (Detail) £ in Millions, shares in Millions, $ in Millions, $ in Millions	1 Months Ended								12 Months Ended
	Apr. 30, 2013 USD ($)	Mar. 31, 2013 USD ($) shares	Mar. 31, 2013 USD ($) shares	Nov. 09, 2012 USD ($)	Jun. 30, 2011 USD ($) shares	Jun. 28, 2011 USD ($)	Jun. 28, 2011 GBP (£)	Mar. 17, 2011 USD ($) shares	Dec. 31, 2013 USD ($) shares	Dec. 31, 2012 USD ($) shares	Dec. 31, 2011 USD ($) shares	Jun. 28, 2011 GBP (£)	Apr. 29, 2011 USD ($)	Apr. 29, 2011 AUD ($)
Other Significant Noncash Transactions [Line Items]
Redemptions of limited partnership interests of third parties									$ 6	$ 10	$ 5
Redemptions of limited partner interests for common stock (shares) \| shares									0.3	0.6	0.3
Contributed land				$ 36
Advances to and investments in affiliates									$ 415	$ 347
Gain on sale of the land	$ 21								33	13	$ 7
Cash received on land contribution	$ 24
Le Meridien Piccadilly
Other Significant Noncash Transactions [Line Items]
Contributed land						$ 102	£ 64
Mortgage debt assumed						52	32
Capital lease transferred						61						£ 38
Proceeds from transfer of Le Meridien Piccadilly to the Euro JV Fund II						$ 40	25
Hilton Melbourne South Wharf
Other Significant Noncash Transactions [Line Items]
Common voting interest acquired													75.00%	75.00%
Mortgage debt assumed in connection with acquisition													$ 86	$ 80
Fund II
Other Significant Noncash Transactions [Line Items]
Investment ownership percentage						33.40%						33.40%
Manchester Grand Hyatt San Diego \| Common Units
Other Significant Noncash Transactions [Line Items]
OP Units exchanged for ownership right, units \| shares								0.3
OP Units exchanged for ownership right, value								$ 6
Maui JV
Other Significant Noncash Transactions [Line Items]
Contributed land				11
Advances to and investments in affiliates				$ 8					$ 16	$ 15
Investment ownership percentage				67.00%					67.00%	67.00%
Gain on sale of the land										$ 8
Cash received on land contribution				$ 12
Maui JV \| Fair Value
Other Significant Noncash Transactions [Line Items]
Contributed land				$ 36
Hyatt Residential Group \| Maui JV
Other Significant Noncash Transactions [Line Items]
Equity method investment outside ownership percentage				33.00%
Exchangeable Senior Debentures 3.25%
Other Significant Noncash Transactions [Line Items]
Exchangeable Debentures		$ 174			$ 134
Debt interest rate		3.25%	3.25%		3.25%
Debt converted into shares of Host Inc. common stock \| shares		11.7			8.8
HOST HOTELS & RESORTS L.P. AND SUBSIDIARIES
Other Significant Noncash Transactions [Line Items]
Redemptions of limited partnership interests of third parties									$ 6	$ 10	$ 5
Redemptions of limited partner interests for common stock (shares) \| shares									0.3	0.6	0.3
Advances to and investments in affiliates									$ 415	$ 347
Gain on sale of the land									$ 33	13	$ 7
HOST HOTELS & RESORTS L.P. AND SUBSIDIARIES \| Le Meridien Piccadilly
Other Significant Noncash Transactions [Line Items]
Contributed land						$ 102	64
Mortgage debt assumed						52	32
Capital lease transferred						61						£ 38
Proceeds from transfer of Le Meridien Piccadilly to the Euro JV Fund II						$ 40	£ 25
HOST HOTELS & RESORTS L.P. AND SUBSIDIARIES \| Hilton Melbourne South Wharf
Other Significant Noncash Transactions [Line Items]
Common voting interest acquired													75.00%	75.00%
Mortgage debt assumed in connection with acquisition													$ 86	$ 80
HOST HOTELS & RESORTS L.P. AND SUBSIDIARIES \| Fund II
Other Significant Noncash Transactions [Line Items]
Investment ownership percentage						33.40%						33.40%
HOST HOTELS & RESORTS L.P. AND SUBSIDIARIES \| Manchester Grand Hyatt San Diego \| Common Units
Other Significant Noncash Transactions [Line Items]
OP Units exchanged for ownership right, units \| shares								0.3
OP Units exchanged for ownership right, value								$ 6
HOST HOTELS & RESORTS L.P. AND SUBSIDIARIES \| Maui JV
Other Significant Noncash Transactions [Line Items]
Contributed land				$ 11
Advances to and investments in affiliates				$ 8
Investment ownership percentage				67.00%
Gain on sale of the land										$ 8
Cash received on land contribution				$ 12
HOST HOTELS & RESORTS L.P. AND SUBSIDIARIES \| Maui JV \| Fair Value
Other Significant Noncash Transactions [Line Items]
Contributed land				$ 36
HOST HOTELS & RESORTS L.P. AND SUBSIDIARIES \| Hyatt Residential Group \| Maui JV
Other Significant Noncash Transactions [Line Items]
Equity method investment outside ownership percentage				33.00%
HOST HOTELS & RESORTS L.P. AND SUBSIDIARIES \| Exchangeable Senior Debentures 3.25%
Other Significant Noncash Transactions [Line Items]
Exchangeable Debentures			$ 174		$ 134
Debt interest rate		3.25%	3.25%		3.25%
Debt converted into shares of Host Inc. common stock \| shares			11.7		8.8
Common OP unit issuances (units) \| shares			11.5		8.6

Consolidated Portfolio of Hotels by Location (Detail)	Dec. 31, 2013 Hotel
Segment Reporting Other Significant Reconciling Item [Line Items]
Hotels	115
European Joint Venture
Segment Reporting Other Significant Reconciling Item [Line Items]
Hotels	19
United States
Segment Reporting Other Significant Reconciling Item [Line Items]
Hotels	100
Australia
Segment Reporting Other Significant Reconciling Item [Line Items]
Hotels	1
Brazil
Segment Reporting Other Significant Reconciling Item [Line Items]
Hotels	1
Canada
Segment Reporting Other Significant Reconciling Item [Line Items]
Hotels	3
Chile
Segment Reporting Other Significant Reconciling Item [Line Items]
Hotels	2
Mexico
Segment Reporting Other Significant Reconciling Item [Line Items]
Hotels	1
New Zealand
Segment Reporting Other Significant Reconciling Item [Line Items]
Hotels	7
Belgium \| European Joint Venture
Segment Reporting Other Significant Reconciling Item [Line Items]
Hotels	3
France \| European Joint Venture
Segment Reporting Other Significant Reconciling Item [Line Items]
Hotels	4
Germany \| European Joint Venture
Segment Reporting Other Significant Reconciling Item [Line Items]
Hotels	1
Italy \| European Joint Venture
Segment Reporting Other Significant Reconciling Item [Line Items]
Hotels	3
Poland \| European Joint Venture
Segment Reporting Other Significant Reconciling Item [Line Items]
Hotels	1
Spain \| European Joint Venture
Segment Reporting Other Significant Reconciling Item [Line Items]
Hotels	2
Sweden \| European Joint Venture
Segment Reporting Other Significant Reconciling Item [Line Items]
Hotels	1
The Netherlands \| European Joint Venture
Segment Reporting Other Significant Reconciling Item [Line Items]
Hotels	2
United Kingdom \| European Joint Venture
Segment Reporting Other Significant Reconciling Item [Line Items]
Hotels	2

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

Dec. 31, 2013

Dec. 31, 2012

Shares Subject To Mandatory Redemption By Settlement Terms [Line Items]

OP units outstanding (millions)

9,500,000

9,900,000

Market price per Host Inc. common share

$ 19.44

$ 15.67

Shares issuable upon conversion of one OP unit

1.021494

Redemption value (millions)

$ 190

$ 158

Historical cost (millions)

Book value (millions)

^[1]

$ 190

$ 158

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

Components of Total Accumulated Other Comprehensive Income in Balance Sheets (Detail) - USD ($) $ in Millions	Dec. 31, 2013	Dec. 31, 2012
Accumulated Other Comprehensive Income Loss [Line Items]
Gain on foreign currency forward contracts	$ 0	$ 5
Loss on interest rate swap cash flow hedges	(2)	(4)
Foreign currency translation	(7)	11
Total accumulated other comprehensive income (loss)	$ (9)	$ 12

Accumulated change in equity from transactions and other events and circumstances from non-owner sources, net of tax effect, at period end. Excludes Net Income (Loss), and accumulated changes in equity from transactions resulting from investments by owners and distributions to owners. Includes foreign currency translation items, certain pension adjustments, unrealized gains and losses on certain investments in debt and equity securities, other than temporary impairment (OTTI) losses related to factors other than credit losses on available-for-sale and held-to-maturity debt securities that an entity does not intend to sell and it is not more likely than not that the entity will be required to sell before recovery of the amortized cost basis, as well as changes in the fair value of derivatives related to the effective portion of a designated cash flow hedge.

Schedule Of Earnings Per Share Basic And Diluted By Common Class [Line Items]

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

12 Months Ended

Dec. 31, 2013

Dec. 31, 2012

Dec. 31, 2011

Less: Net (income) loss attributable to non-controlling interests

$ 325

$ 63

$ (16)

(8)

(2)

Diluted income (loss) attributable to Host Inc.

317

(15)

$ 317

$ 61

$ (15)

Basic weighted average shares outstanding

744.4

718.2

693.0

Diluted weighted average shares outstanding

^[1]

747.9

719.6

693.0

$ 0.43

$ 0.08

$ (0.02)

$ 0.42

$ 0.08

$ (0.02)

[1]

The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period.

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

Reference 1: 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 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 230
-SubTopic 10
-Section 45
-Paragraph 28
-URI http://asc.fasb.org/extlink&oid=31042434&loc=d3e3602-108585

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 944
-SubTopic 225
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-04.19)
-URI http://asc.fasb.org/extlink&oid=6879464&loc=d3e573970-122913

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 50
-Paragraph 1
-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
-Topic 225
-SubTopic 10
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03.18)
-URI http://asc.fasb.org/extlink&oid=26872669&loc=d3e20235-122688

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 944
-SubTopic 225
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-04.22)
-URI http://asc.fasb.org/extlink&oid=6879464&loc=d3e573970-122913

Reference 7: 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 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section 45
-Paragraph 6
-URI http://asc.fasb.org/extlink&oid=28358780&loc=d3e565-108580

Reference 9: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 03
-Paragraph 19
-Article 5

Reference 10: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 04
-Paragraph 20
-Article 9

Schedule Of Earnings Per Share Basic And Diluted By Common Class [Line Items]

Host Inc. Earnings (Loss) Per Common Share (Parenthetical) (Detail) - shares shares in Millions	12 Months Ended
	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011
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	30	40	47

Host LP Earnings (Loss) Per Common Unit (Detail) - USD ($)
$ / shares in Units, shares in Millions, $ in Millions

3 Months Ended

12 Months Ended

Dec. 31, 2013

^[2]

Sep. 30, 2013

^[2]

Jun. 30, 2013

^[2]

Mar. 31, 2013

^[2]

Dec. 31, 2012

^[2]

Sep. 30, 2012

^[2]

Jun. 30, 2012

^[2]

Mar. 31, 2012

^[2]

Dec. 31, 2013

Dec. 31, 2012

Dec. 31, 2011

Less: Net (income) loss attributable to non-controlling interests

$ 325

$ 63

$ (16)

(8)

(2)

Basic weighted average shares outstanding

$ 317

$ 61

$ (15)

744.4

718.2

693.0

Diluted weighted average shares outstanding

^[1]

747.9

719.6

693.0

$ 0.43

$ 0.08

$ (0.02)

$ 0.42

$ 0.08

$ (0.02)

Schedule Of Earnings Per Share Basic And Diluted By Common Class [Line Items]

Less: Net (income) loss attributable to non-controlling interests

$ 325

$ 63

$ (16)

(4)

(1)

Diluted income (loss) attributable to Host L.P.

$ 125

$ 19

$ 120

$ 57

$ 16

$ (35)

$ 83

$ (2)

321

(15)

$ 322

$ 62

$ (15)

Basic weighted average shares outstanding

738.4

713.3

688.9

Diluted weighted average shares outstanding

^[3]

741.9

714.6

688.9

$ 0.17

$ 0.03

$ 0.16

$ 0.08

$ 0.02

$ (0.05)

$ 0.12

$ 0.43

$ 0.09

$ (0.02)

$ 0.17

$ 0.03

$ 0.16

$ 0.08

$ 0.02

$ (0.05)

$ 0.12

$ 0.43

$ 0.09

$ (0.02)

[1]	There are 30 million, 40 million and 47 million potentially dilutive shares for our exchangeable senior debentures and shares granted under comprehensive stock plans which were not included in the computation of diluted EPS as of December 31, 2013, 2012 and 2011, respectively, because to do so would have been anti-dilutive for the period.
[2]	Other income statement line items not presented for Host L.P. are equal to the amounts presented for Host Inc.
[3]	There are 29 million, 40 million and 46 million potentially dilutive units for our exchangeable senior debentures and for units distributable to Host Inc. for Host Inc. shares granted under comprehensive stock plans which were not included in the computation of diluted earnings per unit as of December 31, 2013, 2012 and 2011, respectively, because to do so would have been anti-dilutive for the period.

Host LP Earnings (Loss) Per Common Unit (Parenthetical) (Detail) - shares shares in Millions	12 Months Ended
	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011
HOST HOTELS & RESORTS L.P. AND SUBSIDIARIES
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	29	40	46

Summary of Significant Accounting Policies - Additional Information (Detail) $ in Millions	12 Months Ended
	Dec. 31, 2013 USD ($) Hotel Room Property Entity Contract	Dec. 31, 2012 USD ($) Property	Dec. 31, 2011 USD ($)	Jun. 28, 2011
Significant Accounting Policies [Line Items]
Number of hotels \| Hotel	115
Percentage of property revenue allocated for renewal and replacement capital expenditures	5.00%
Impairment charges	$ 1.0	$ 60.0
Number of impaired assets \| Property	1	1
Number of majority-owned partnerships that have third-party, non-controlling ownership interests that have been consolidated \| Entity	5
Non-controlling interests—other consolidated partnerships	$ 34.0	$ 34.0
Number of majority-owned partnerships that have third-party, non-controlling ownership interests with finite lives \| Entity	2
Non-controlling interests in outside partnerships, fair value	$ 68.0	65.0
Net (income) loss attributable to non-controlling interests outside partnerships	4.0	1.0	$ (1.0)
Net (income) loss attributable to outside partners of Host LP	$ 4.0	1.0	$ (0.2)
Percentage greater than threshold of income tax examination minimum likelihood of tax benefits being realized upon settlement	50.00%
Net gain related to two foreign currency denominated subsidiaries that were substantially liquidated	$ 2.0
Stock-based employee compensation plans \| Contract	2
Exposure risk related for derivative contracts	$ 4.0	$ 14.0
Amount of borrowing capacity currently available under the credit facility	554.0
Repayment of credit facility in subsequent to year-end	$ 779.0
Property, Plant and Equipment, Other Types
Significant Accounting Policies [Line Items]
Estimated useful lives	3 years
Lower Limit
Significant Accounting Policies [Line Items]
Majority-owned partnerships with mandatorily redeemable non-controlling interests, termination year	2081
Upper Limit
Significant Accounting Policies [Line Items]
Majority-owned partnerships with mandatorily redeemable non-controlling interests, termination year	2095
Fund II
Significant Accounting Policies [Line Items]
Investment ownership percentage				33.40%
European Joint Venture
Significant Accounting Policies [Line Items]
Number of hotels \| Hotel	19
European Joint Venture \| Fund I
Significant Accounting Policies [Line Items]
Investment ownership percentage	32.10%
Number of hotels \| Hotel	11
European Joint Venture \| Fund II
Significant Accounting Policies [Line Items]
Investment ownership percentage	33.40%
Number of hotels \| Hotel	8
Asia/Pacific Joint Venture
Significant Accounting Policies [Line Items]
Investment ownership percentage	25.00%
Asia/Pacific Joint Venture \| India
Significant Accounting Policies [Line Items]
Number of hotels \| Hotel	7
Asia/Pacific Joint Venture \| India \| Bangalore
Significant Accounting Policies [Line Items]
Number of hotels \| Hotel	2
Asia/Pacific Joint Venture \| India \| Chennai and Delhi
Significant Accounting Policies [Line Items]
Number of hotels \| Hotel	5
Asia/Pacific Joint Venture \| Citigate Perth
Significant Accounting Policies [Line Items]
Number of rooms \| Room	278
HOST HOTELS & RESORTS, INC.
Significant Accounting Policies [Line Items]
Percentage of the common OP Units	98.70%
HOST HOTELS & RESORTS L.P. AND SUBSIDIARIES
Significant Accounting Policies [Line Items]
OP units conversion basis	One OP unit may be exchanged for 1.021494 shares of Host Inc. common stock) valued at the market price of Host Inc.
HOST HOTELS & RESORTS L.P. AND SUBSIDIARIES \| Fund II
Significant Accounting Policies [Line Items]
Investment ownership percentage				33.40%

Summary of Property and Equipment (Detail) - USD ($) $ in Millions	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011
Property Plant And Equipment [Line Items]
Land and land improvements	$ 1,973	$ 1,996
Buildings and leasehold improvements	13,435	13,665
Furniture and equipment	2,223	2,227
Construction in progress	176	199
Property, Plant and Equipment, Gross, Total	17,807	18,087
Less accumulated depreciation and amortization	(6,812)	(6,499)
Property and equipment, net	$ 10,995	$ 11,588	$ 11,383

Property and Equipment - Additional information (Detail) $ in Millions	Dec. 31, 2013 USD ($)
Property Plant And Equipment [Line Items]
Cost of real estate for federal income tax purposes	$ 10,745

Investment in Affiliates - Additional Information (Detail) € in Millions, $ in Millions	1 Months Ended					6 Months Ended		12 Months Ended
	Oct. 22, 2013 USD ($)	Oct. 22, 2013 EUR (€)	Aug. 29, 2013 USD ($) Room	Aug. 29, 2013 EUR (€) Room	Nov. 09, 2012 USD ($) Room	Jun. 30, 2013 USD ($) Hotel	Jun. 30, 2013 EUR (€)	Dec. 31, 2013 USD ($) Hotel Contract	Dec. 31, 2013 EUR (€)	Dec. 31, 2012 USD ($)	Dec. 31, 2012 EUR (€)	Dec. 31, 2011 USD ($)	Dec. 31, 2013 EUR (€) Hotel Contract	Jun. 30, 2013 EUR (€) Hotel	May 31, 2012 USD ($) Room	Jun. 28, 2011
Investments In And Advances To Affiliates [Line Items]
Total assets								$ 2,856.0		$ 2,601.0
Mortgage repayment								411.0		113.0		$ 210.0
Proceeds from sales of assets, net								643.0		160.0		46.0
Mortgage debt								$ 709.0		993.0
Number of hotels \| Hotel								115					115
Draws on credit facility								$ 393.0		231.0		153.0
Foreign currency forward purchase contract \| Contract								5					5
Equity in earnings (losses) of affiliates								$ (17.0)		2.0		4.0
Contributed land					$ 36.0
Investment in joint venture								415.0		347.0
Issuance of long term debt								500.0		461.0
Fund II
Investments In And Advances To Affiliates [Line Items]
Investment ownership percentage																33.40%
European Joint Venture
Investments In And Advances To Affiliates [Line Items]
Total assets								2,600.0					€ 1,900.0
Management fees								15.0		13.0		$ 11.0
Interest rate of secured debt						4.50%								4.50%
Mortgage debt						$ 1,363.0								€ 989.0
Number of hotels \| Hotel						6								6
Mortgage on debt principal reduction before refinancing										446.0	€ 337.0
Mortgage on debt principal reduction after refinancing						$ 320.0	€ 242.0
Draws on credit facility						$ 48.0	€ 37.0
Hedged amount of our net investment in the European joint venture								265.0					€ 194.0
Equity in earnings (losses) of affiliates								(15.0)
Investment in joint venture								374.0		305.0
Issuance of long term debt								$ 444.0		$ 443.0
European Joint Venture \| Forward Currency Sale Contracts
Investments In And Advances To Affiliates [Line Items]
Foreign currency forward purchase contract \| Contract								5					5
European Joint Venture \| Mortgage Loans Due Twenty Sixteen
Investments In And Advances To Affiliates [Line Items]
Mortgage repayment \| €									€ 95.0
European Joint Venture \| Fund I
Investments In And Advances To Affiliates [Line Items]
Investment ownership percentage								32.10%					32.10%
Partners contribution \| €									631.0
Percentage of total equity commitment funded								91.00%					91.00%
European Joint Venture \| Fund II
Investments In And Advances To Affiliates [Line Items]
Investment ownership percentage								33.40%					33.40%
Partners contribution \| €									€ 369.0
Percentage of total equity commitment funded								82.00%					82.00%
Asia/Pacific Joint Venture
Investments In And Advances To Affiliates [Line Items]
Investment ownership percentage								25.00%		25.00%			25.00%
Amount of contribution in connection acquisition								$ 73.0
Investment in joint venture								20.0		$ 22.0
Issuance of long term debt								10.0		$ 11.0
Investment in joint venture								$ 73.0
Asia/Pacific Joint Venture \| India
Investments In And Advances To Affiliates [Line Items]
Investment ownership percentage								36.00%					36.00%
Asia/Pacific Joint Venture \| India \| Bangalore
Investments In And Advances To Affiliates [Line Items]
Number of hotels \| Hotel								2					2
Asia/Pacific Joint Venture \| India \| Chennai and Delhi
Investments In And Advances To Affiliates [Line Items]
Number of hotels \| Hotel								5					5
Maui JV
Investments In And Advances To Affiliates [Line Items]
Investment ownership percentage					67.00%			67.00%		67.00%			67.00%
Number of rooms \| Room					131
Amount of contribution in connection acquisition					$ 3.0
Amount withdrawn on construction loan, current								$ 50.5
Contributed land					11.0
Pre-formation expenditures contributed to joint venture					8.0
Investment in joint venture					8.0			16.0		$ 15.0
Issuance of long term debt								$ 34.0		$ 7.0
Investment in joint venture					3.0
Maui JV \| Fair Value
Investments In And Advances To Affiliates [Line Items]
Contributed land					36.0
Hyatt Place JV
Investments In And Advances To Affiliates [Line Items]
Investment ownership percentage								50.00%		50.00%			50.00%		50.00%
Number of rooms \| Room															255
Amount of contribution in connection acquisition								$ 6.0
Amount withdrawn on construction loan, current								23.6
Investment in joint venture								5.0		$ 5.0
Hotels to be developed, agreement amount															$ 43.0
Issuance of long term debt								12.0							$ 34.8
Investment in joint venture								6.0
Sheraton Stockholm Hotel \| Sweden
Investments In And Advances To Affiliates [Line Items]
Amount of contribution in connection acquisition			$ 19.0	€ 14.0
Investment in joint venture			$ 19.0	€ 14.0
Sheraton Stockholm Hotel \| European Joint Venture \| Sweden
Investments In And Advances To Affiliates [Line Items]
Number of rooms \| Room			465	465
Acquisition date total consideration transferred			$ 135.0	€ 102.0
Issuances of debt			$ 81.0	€ 61.0
Interest rate of secured debt			5.67%	5.67%
Courtyard Paris La Defense West – Colombes \| European Joint Venture
Investments In And Advances To Affiliates [Line Items]
Mortgage repayment	$ 14.4	€ 10.4
Proceeds from sales of assets, net	26.0	19.0
Gain on sale of asset	$ 2.3	€ 1.7
HOST HOTELS & RESORTS, INC. \| Asia/Pacific Joint Venture
Investments In And Advances To Affiliates [Line Items]
Amount of contribution in connection acquisition								18.0
Investment in joint venture								$ 18.0
HOST HOTELS & RESORTS, INC. \| Maui JV
Investments In And Advances To Affiliates [Line Items]
Construction loan and partner contributions					110.0
HOST HOTELS & RESORTS, INC. \| Maui JV \| Fair Value
Investments In And Advances To Affiliates [Line Items]
Contributed land					$ 36.0

Combined Summarized Balance Sheet Information (Detail) - USD ($) $ in Millions	Dec. 31, 2013	Dec. 31, 2012
Segment Reporting Asset Reconciling Item [Line Items]
Property and equipment, net	$ 2,480	$ 2,289
Other assets	376	312
Total assets	2,856	2,601
Debt	1,476	1,414
Other liabilities	135	164
Equity	1,245	1,023
Total liabilities and equity	$ 2,856	$ 2,601

Combined Summarized Operating Results for Affiliates (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011
Segment Reporting Revenue Reconciling Item [Line Items]
Total revenues	$ 617	$ 428	$ 381
Expenses	(473)	(346)	(294)
Depreciation and amortization	(112)	(56)	(46)
Operating profit	32	26	41
Interest expense	(59)	(43)	(43)
Gain on disposition	2
Net loss	$ (25)	$ (17)	$ (2)

Summary of Investments in Affiliates (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2013	Dec. 31, 2012	Nov. 09, 2012	May 31, 2012
Schedule Of Investments [Line Items]
Advances to and investments in affiliates	$ 415.0	$ 347.0
Our Portion of Debt	500.0	461.0
Debt	1,476.0	1,414.0
European Joint Venture
Schedule Of Investments [Line Items]
Advances to and investments in affiliates	374.0	305.0
Our Portion of Debt	444.0	443.0
Debt	$ 1,363.0	$ 1,360.0
Assets	Nineteen hotels in Europe	Nineteen hotels in Europe
European Joint Venture \| Lower Limit
Schedule Of Investments [Line Items]
Investment ownership percentage	32.10%	32.10%
European Joint Venture \| Upper Limit
Schedule Of Investments [Line Items]
Investment ownership percentage	33.40%	33.40%
Asia/Pacific Joint Venture
Schedule Of Investments [Line Items]
Investment ownership percentage	25.00%	25.00%
Advances to and investments in affiliates	$ 20.0	$ 22.0
Our Portion of Debt	10.0	11.0
Debt	$ 39.0	$ 44.0
Assets	One hotel in Australia and a 36% interest in two operating hotels and five hotels under development in India	One hotel in Australia and a 36% interest in two operating hotels and five hotels under development in India
Maui JV
Schedule Of Investments [Line Items]
Investment ownership percentage	67.00%	67.00%	67.00%
Advances to and investments in affiliates	$ 16.0	$ 15.0	$ 8.0
Our Portion of Debt	34.0	7.0
Debt	$ 50.0	$ 10.0
Assets	131-unit vacation ownership project in Maui, Hawaii	131-unit vacation ownership project in Maui, Hawaii
Hyatt Place JV
Schedule Of Investments [Line Items]
Investment ownership percentage	50.00%	50.00%		50.00%
Advances to and investments in affiliates	$ 5.0	$ 5.0
Our Portion of Debt	12.0			$ 34.8
Debt	$ 24.0
Assets	One hotel in Nashville, Tennessee	One hotel under development in Nashville, Tennessee

Debt (Detail) - USD ($) $ in Millions	Dec. 31, 2013	Dec. 31, 2012
Debt Instrument [Line Items]
Senior Notes	$ 3,018	$ 3,569
Exchangeable senior debentures	371	531
Credit facility	946	763
Mortgage debt (non-recourse), with an average interest rate of 4.1% and 4.5% at December 31, 2013 and 2012, respectively, maturing through January 2024	709	993
Other	86	86
Total debt	4,759	5,411
Series Q senior notes 6.75% due June 2016
Debt Instrument [Line Items]
Senior Notes	150	550
Series T senior notes 9% due May 2017
Debt Instrument [Line Items]
Senior Notes	0	391
Series V senior notes 6% due November 2020
Debt Instrument [Line Items]
Senior Notes	500	500
Series X senior notes 5.875% due June 2019
Debt Instrument [Line Items]
Senior Notes	497	497
Series Z senior notes 6% due October 2021
Debt Instrument [Line Items]
Senior Notes	300	300
Series B senior notes 5.25% due March 2022
Debt Instrument [Line Items]
Senior Notes	350	350
Series C senior notes 4.75% due March 2023
Debt Instrument [Line Items]
Senior Notes	450	450
Series D senior notes 3.75% due October 2023
Debt Instrument [Line Items]
Senior Notes	400
Exchangeable 2004 senior debentures 3.25% due April 2024
Debt Instrument [Line Items]
Exchangeable senior debentures	0	175
Exchangeable 2009 senior debentures 2.5% due October 2029
Debt Instrument [Line Items]
Exchangeable senior debentures	371	356
Revolver
Debt Instrument [Line Items]
Credit facility	446	263
Term Loan due July 2017
Debt Instrument [Line Items]
Credit facility	$ 500	$ 500

Mortgage Debt Issuances and Repayments (Detail) - USD ($)
$ in Millions

12 Months Ended

Dec. 31, 2013

Dec. 31, 2012

Dec. 31, 2011

Harbor Beach Marriott Resort & Spa | Issuance of Debt

$ (411)

$ (113)

$ (210)

4.75%

Harbor Beach Marriott Resort & Spa | Repayment of Debt

Jan. 01, 2024

Issuance amount

$ 150

5.55%

Mar. 01, 2014

Hyatt Regency Reston | Issuance of Debt

$ (134)

^[1]

3.30%

Westin Denver Downtown | Repayment of Debt

^[1]

Jul. 01, 2016

Issuance amount

^[1]

$ 100

8.51%

Dec. 11, 2023

Orlando World Center Marriott | Repayment of Debt

$ (31)

4.75%

Jul. 01, 2013

J W Marriott Washington D C | Repayment of Debt

$ (246)

^[2]

7.50%

^[2]

Apr. 02, 2013

^[2]

$ (113)

[1]	The floating interest rate is equal to 1-month LIBOR plus 310 basis points. The rate shown reflects the rate in effect at December 31, 2013. We have the option to extend the maturity for one year, subject to certain conditions.
[2]	We prepaid the mortgage including an exit fee of $1 million.

Interest Expense (Detail) - USD ($)
$ in Millions

12 Months Ended

Dec. 31, 2013

Dec. 31, 2012

Dec. 31, 2011

Amortization of debt premiums/discounts, net

Interest expense

^[1]

$ 304

$ 373

$ 371

^[1],[2]

(15)

(18)

(32)

Amortization of deferred financing costs

^[1]

(10)

(12)

(11)

Non-cash losses on debt extinguishments

^[1]

(13)

(9)

(4)

Change in accrued interest

^[1]

(4)

Interest paid

^[1],[3]

$ 282

$ 338

$ 320

[1]	Interest expense and interest paid for 2013, 2012 and 2011 includes cash prepayment premiums of approximately $23 million, $21 million and $5 million, respectively.
[2]	Primarily represents the amortization of the debt discount on our Debentures, which is non-cash interest expense.
[3]	Does not include capitalized interest of $6 million, $6 million and $4 million during 2013, 2012 and 2011, respectively.

Debt (Parenthetical) (Detail) - Mortgages	12 Months Ended
Debt (Parenthetical) (Detail) - Mortgages	Dec. 31, 2013	Dec. 31, 2012
Debt Instrument [Line Items]
Average interest rate	4.10%	4.50%
Upper Limit
Debt Instrument [Line Items]
Debt maturity date	Jan. 01, 2024

Mortgage Debt Issuances and Repayments (Parenthetical) (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011
Debt Instrument [Line Items]
Exit fee	$ 23	$ 21	$ 5
Hyatt Regency Reston
Debt Instrument [Line Items]
Basis points addition	3.10%
Maturity extension option period	1 year
J W Marriott Washington D C
Debt Instrument [Line Items]
Exit fee		$ 1

Interest Expense (Parenthetical) (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011
Debt Instrument [Line Items]
Prepayment premiums	$ 23	$ 21	$ 5
Capitalized interest	$ 6	$ 6	$ 4

Debt - Additional Information (Detail) $ / shares in Units, shares in Millions, $ in Millions		1 Months Ended																12 Months Ended
	Sep. 05, 2012 USD ($)	Jan. 31, 2014 USD ($)	Sep. 30, 2013 USD ($)	Jun. 30, 2013 USD ($)	May 31, 2013 USD ($)	Mar. 31, 2013 USD ($) shares	Mar. 19, 2013 USD ($)	Dec. 31, 2012 USD ($)	Oct. 31, 2012 USD ($)	Aug. 27, 2012 USD ($)	Aug. 09, 2012 USD ($)	Jul. 31, 2012 USD ($)	Jul. 25, 2012 USD ($)	May 29, 2012 USD ($)	Apr. 16, 2012 USD ($)	Apr. 13, 2012 USD ($)	Mar. 22, 2012 USD ($)	Dec. 31, 2013 USD ($) shares Entity d $ / shares	Dec. 31, 2012 USD ($)	Dec. 31, 2011 USD ($)	Feb. 28, 2014 USD ($)	Dec. 31, 2010 USD ($)	Dec. 22, 2009 USD ($)
Debt Instrument [Line Items]
Redemption price of Senior notes																		$ 801	$ 1,795	$ 404
Debt principal outstanding																		4,788
Exchangeable senior debentures								$ 531										371	531
Amount of borrowing capacity currently available under the credit facility																		554
Aggregate borrowing capacity																		1,000
Additional borrowing capacity																		500
Draws on credit facility																		393	231	153
Repayments on credit facility																		$ 207	89	90
Leverage ratio																		3.2
Cash and cash equivalents								417										$ 861	417	826		$ 1,113
Assets that are secured by mortgage debt \| Entity																		12
Amortization of property and equipment under capital leases																		$ 1	1	3
Interest Expense
Debt Instrument [Line Items]
Loss on extinguishment																		$ 36	30	$ 9
Covenant Requiring Guarantees
Debt Instrument [Line Items]
Leverage ratio																		6.0
Grand hyatt washington
Debt Instrument [Line Items]
Draws on credit facility												$ 100
Foreign Currency
Debt Instrument [Line Items]
Draws on credit facility												$ 42						$ 68
Repayments on credit facility																		7
US Currency
Debt Instrument [Line Items]
Draws on credit facility																		118
Foreign Currency Borrowings
Debt Instrument [Line Items]
Aggregate borrowing capacity																		500
Swingline Loans
Debt Instrument [Line Items]
Aggregate borrowing capacity																		100
Letter of Credit
Debt Instrument [Line Items]
Aggregate borrowing capacity																		100
J W Marriott Washington D C
Debt Instrument [Line Items]
Debt interest rate																	7.50%
Repayment of senior notes																	$ 113
Subsequent Event
Debt Instrument [Line Items]
Amount of borrowing capacity currently available under the credit facility																		779
Repayments on credit facility		$ 225
Subsequent Event \| Credit facility
Debt Instrument [Line Items]
Repayments on credit facility																		225
Senior Notes
Debt Instrument [Line Items]
Face amount of debt								3,600										3,100	3,600
Unamortized Discount								$ 56										$ 32	$ 56
Debt covenant compliance																		As of December 31, 2013, we are in compliance with all of these covenants.
Senior Notes \| Upper limit
Debt Instrument [Line Items]
Debt Repurchase Authorized Amount																		$ 680
Senior Notes \| Subsequent Event \| Upper limit
Debt Instrument [Line Items]
Debt Repurchase Authorized Amount																					$ 530
Series D senior notes 3.75% due October 2023
Debt Instrument [Line Items]
Face amount of debt							$ 400
Debt interest rate							3.75%
Proceed from issuance of note							$ 396
Series T senior notes 9% due May 2017
Debt Instrument [Line Items]
Debt interest rate					9.00%
Repayment of senior notes					$ 400
Redemption price of Senior notes					$ 418
Series Q senior notes 6.75% due June 2016
Debt Instrument [Line Items]
Debt interest rate			6.75%	6.75%				6.75%										6.75%	6.75%
Repayment of senior notes			$ 200	$ 200				$ 100										$ 400
Redemption price of Senior notes								102										404
Series Q senior notes 6.75% due June 2016 \| Subsequent Event
Debt Instrument [Line Items]
Repayment of senior notes																		150
Redemption price of Senior notes																		152
Exchangeable 2004 senior debentures 3.25% due April 2024
Debt Instrument [Line Items]
Debt interest rate						3.25%
Exchangeable Debentures						$ 174
Common stock issuances \| shares						11.7
Common OP units issued \| shares						11.5
Debentures redeemed for cash						$ 1
Exchangeable senior debentures								175										0	$ 175
Series C senior notes 4.75% due March 2023
Debt Instrument [Line Items]
Face amount of debt											$ 450
Debt interest rate											4.75%
Proceed from issuance of note											$ 443
Series O senior notes 6.375% due 2015
Debt Instrument [Line Items]
Debt interest rate	6.375%									6.375%
Repayment of senior notes	$ 250									$ 400
Redemption price of Senior notes	$ 253									$ 404
Series Q senior notes 6.75% due 2016
Debt Instrument [Line Items]
Debt interest rate	6.75%
Repayment of senior notes	$ 150
Redemption price of Senior notes	$ 153
Exchangeable 2007 senior debentures 2.625% due April 2027
Debt Instrument [Line Items]
Debt interest rate															2.625%
Debentures redeemed for cash									$ 2						$ 386
Series S senior notes 6.875% due November 2014
Debt Instrument [Line Items]
Debt interest rate																6.875%
Repayment of senior notes														$ 250		$ 250
Redemption price of Senior notes														$ 508
Series A Senior Notes, 5.25% Due 2022
Debt Instrument [Line Items]
Face amount of debt																	$ 350
Debt interest rate																	5.25%
Proceed from issuance of note																	$ 344
Exchangeable 2009 Senior Debentures 2.5% Due October 2029
Debt Instrument [Line Items]
Unamortized Discount																		$ 29
Debt interest rate																		2.50%
Debt principal outstanding																		$ 400					$ 316
Debt issuance date																		Dec. 22, 2009
Percentage of closing exchange price common stock																		130.00%
Current equivalent exchange price \| $ / shares																		$ 17.40
Debt exchange description																		at any time at which the closing price of Host Inc.’s common stock is more than 130% ($17.40) of the exchange price per share for at least 20 of the last 30 consecutive trading days of the calendar quarter or at any time up to two days prior to the date on which the 2009 Debentures have been called for redemption
Excess fair value over principal value																		$ 181
Current equivalent exchange price \| $ / shares																		$ 13.39
Exchangeable share equivalents \| shares																		29.9
Debt Instrument convertible threshold trading days \| d																		20
Debt Instrument convertible threshold consecutive trading days																		30 days
Initial Equity Value of Exchangeable Debenture																							$ 82
Exchangeable senior debentures								$ 356										$ 371	$ 356
Term Loan
Debt Instrument [Line Items]
Face amount of debt													$ 500
Debt instrument, interest rate terms													The Term Loan has a five-year maturity and a floating interest rate of LIBOR plus 165 basis points based on our leverage ratio, as defined in our credit facility, at December 31, 2013 (or approximately a 1.8% all-in interest rate).
Debt maturity period													5 years
Debt interest rate																		1.80%
Line of credit interest terms																		The interest rate margin on the Term Loan ranged from 165 to 265 basis points (depending on Host L.P.’s consolidated leverage ratio). On and after January 24, 2014, the date on which Host L.P. elected ratings-based pricing, we will pay interest on the term loan at floating rates plus a margin ranging from 115 to 200 basis points (depending on Host L.P.’s unsecured long-term debt rating). Based on Host L.P.’s unsecured long-term debt rating at January 24, 2014, the margin would be 145 basis points.
Term Loan \| LIBOR
Debt Instrument [Line Items]
Basis points addition													1.65%
Term Loan \| Upper limit
Debt Instrument [Line Items]
Basis points addition																		2.65%
Term Loan \| Upper limit \| Investment grade
Debt Instrument [Line Items]
Basis points addition																		2.00%
Term Loan \| Lower Limit
Debt Instrument [Line Items]
Basis points addition																		1.65%
Term Loan \| Lower Limit \| Investment grade
Debt Instrument [Line Items]
Basis points addition																		1.15%
Term Loan \| Subsequent Event \| LIBOR
Debt Instrument [Line Items]
Basis points addition		1.45%
Covenant Requirement \| Credit facility
Debt Instrument [Line Items]
Debt covenant compliance																		As of December 31, 2013, we are in compliance with the financial covenants under our credit facility.
Debt instrument covenant description																		Additionally, total debt used in the calculation of our leverage ratio is based on a “net debt” concept, under which cash and cash equivalents in excess of $100 million are deducted from our total debt balance.
Covenant Requirement \| Upper limit \| Credit facility
Debt Instrument [Line Items]
Leverage ratio																		7.25
Covenant Requirement \| Lower Limit \| Credit facility
Debt Instrument [Line Items]
Unsecured interest coverage ratio																		1.75
Fixed charge coverage ratio																		1.25
Cash and cash equivalents																		$ 100
Revolver
Debt Instrument [Line Items]
Line of credit interest terms																		We pay interest on revolver borrowings under the credit facility at floating rates equal to LIBOR plus a margin. During 2013 and prior years, the margin ranged from 175 to 275 basis points (depending on Host L.P.’s consolidated leverage ratio). Based on our leverage ratio at December 31, 2013 of 3.2x, we would be able to borrow at a rate of LIBOR plus 175 basis points. When using leverage-based pricing, to the extent that amounts under the credit facility remain unused, we pay a quarterly commitment fee on the unused portion of the loan commitment of 25 to 35 basis points, depending on our average revolver usage during the applicable period.
Line of credit commitment fee																		To the extent that amounts under the credit facility remain unused, we pay a quarterly commitment fee on the unused portion of the loan commitment of 25 to 35 basis points, depending on our average revolver usage during the applicable period
Revolver \| LIBOR
Debt Instrument [Line Items]
Basis points addition																		1.75%
Revolver \| Upper limit
Debt Instrument [Line Items]
Line of credit unused capacity commitment fee																		0.35%
Revolver \| Upper limit \| Investment grade
Debt Instrument [Line Items]
Basis points addition																		1.60%
Facility commitment fee																		0.40%
Revolver \| Upper limit \| LIBOR
Debt Instrument [Line Items]
Basis points addition																		2.75%
Revolver \| Lower Limit
Debt Instrument [Line Items]
Line of credit unused capacity commitment fee																		0.25%
Revolver \| Lower Limit \| Investment grade
Debt Instrument [Line Items]
Basis points addition																		1.00%
Facility commitment fee																		0.15%
Revolver \| Lower Limit \| LIBOR
Debt Instrument [Line Items]
Basis points addition																		1.75%
Revolver \| Subsequent Event
Debt Instrument [Line Items]
Facility commitment fee		0.25%
Revolver \| Subsequent Event \| LIBOR
Debt Instrument [Line Items]
Basis points addition		1.25%
Debt Covenant
Debt Instrument [Line Items]
Leverage ratio																		6.0
Mortgages
Debt Instrument [Line Items]
Debt covenant compliance																		As of December 31, 2013, we are in compliance with the covenants under all of our mortgage debt obligations.
Average interest rate								4.50%										4.10%	4.50%
HOST HOTELS & RESORTS, INC. \| Exchangeable 2009 Senior Debentures 2.5% Due October 2029
Debt Instrument [Line Items]
Current exchange rate for each $1,000 of principal																		74.7034

Interest Expense for Debentures (Detail) - USD ($)
$ in Millions

12 Months Ended

Dec. 31, 2013

Dec. 31, 2012

Dec. 31, 2011

Non-cash interest expense due to discount amortization

$ 25

$ 13

$ 30

Total interest expense

^[1]

304

373

371

Exchangeable Senior Debentures

Contractual interest expense (cash)

Non-cash interest expense due to discount amortization

Total interest expense

$ 25

$ 36

$ 62

[1]	Interest expense and interest paid for 2013, 2012 and 2011 includes cash prepayment premiums of approximately $23 million, $21 million and $5 million, respectively.

Aggregate Debt Maturities (Detail) - USD ($)
$ in Millions

Dec. 31, 2013

Dec. 31, 2012

Debt principal outstanding

2014

$ 332

2015

^[1]

858

2016

^[2]

408

2017

540

2018

Thereafter

2,650

4,788

Unamortized (discounts) premiums, net

(32)

Fair value hedge adjustment

Capital lease obligations

Total debt

$ 4,759

$ 5,411

[1]	Includes $225 million outstanding under the credit facility that was repaid in January 2014.
[2]	Includes $150 million Series Q senior notes that were repaid in February 2014.

Aggregate Debt Maturities (Detail) (Parenthetical) - USD ($) $ in Millions	1 Months Ended	12 Months Ended
	Jan. 31, 2014	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011
Debt Instrument [Line Items]
Repayment of credit facility revolver		$ 207	$ 89	$ 90
Repayment of Senior notes		801	$ 1,795	$ 404
Subsequent Event
Debt Instrument [Line Items]
Repayment of credit facility revolver	$ 225
Subsequent Event \| Credit facility
Debt Instrument [Line Items]
Repayment of credit facility revolver		225
Subsequent Event \| Series Q Senior Notes Due February 2014
Debt Instrument [Line Items]
Repayment of Senior notes		$ 150

Common Dividends Declared Per Share (Detail) - $ / shares	12 Months Ended
	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011
Stockholders Equity Note [Line Items]
Common stock	$ 0.46	$ 0.30	$ 0.14
Common OP units	$ 0.470	$ 0.306	$ 0.143

Equity of Host Inc. and Capital of Host L.P. - Additional Information (Detail) - USD ($) $ / shares in Units, $ in Millions	1 Months Ended		12 Months Ended
	Feb. 28, 2014	Mar. 31, 2013	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011
Stockholders Equity Note [Line Items]
Common stock, shares authorized			1,050,000,000	1,050,000,000
Common stock, par value			$ 0.01	$ 0.01
Common stock, shares outstanding			754,800,000	724,600,000
Issuance of common stock			$ 303	$ 274	$ 323
Dividend policy			The amount of any future dividends will be determined by Host Inc.’s Board of Directors.
Dividend per share, declared			$ 0.46	$ 0.30	$ 0.14
Dividends taxable as ordinary income to stockholders			96.50%	100.00%
Dividends taxable as unrecaptured Section 1250 gain			3.50%
Lower Limit
Stockholders Equity Note [Line Items]
Percentage of annual taxable income Host Inc is required to distribute			90.00%
Exchangeable 2004 senior debentures 3.25% due April 2024
Stockholders Equity Note [Line Items]
Common OP units issued		11,500,000
Value of debentures converted to equity		$ 174
Debt converted into shares of Host Inc. common stock		11,700,000
HOST HOTELS & RESORTS, INC.
Stockholders Equity Note [Line Items]
Common stock, shares authorized			1,050,000,000	1,050,000,000
Common stock, par value			$ 0.01	$ 0.01
Common stock, shares outstanding			754,800,000	724,600,000
Preferred stock, shares authorized			50,000,000
Preferred stock, no par value
Preferred stock, shares outstanding			0	0
Percentage of the common OP Units			98.70%
Common OP units, outstanding			738,900,000	709,400,000
HOST HOTELS & RESORTS, INC. \| Subsequent Event
Stockholders Equity Note [Line Items]
Dividend declaration date	Feb. 18, 2014
Dividend per share, declared	$ 0.14
Dividend payable date	Apr. 15, 2014
Dividend record date	Mar. 31, 2014
HOST HOTELS & RESORTS, INC. \| Sales Agency Financing Agreement Twenty Twelve
Stockholders Equity Note [Line Items]
Common stock issuances			16,900,000	17,500,000
Average price per share for stock issued			$ 17.78	$ 15.67
Issuance of common stock			$ 297	$ 271
Limited Partner
Stockholders Equity Note [Line Items]
Percentage of the common OP Units			1.30%
HOST HOTELS & RESORTS L.P. AND SUBSIDIARIES
Stockholders Equity Note [Line Items]
Shares issuable upon conversion of one OP unit			1.021494	1.021494
Common OP units, outstanding			748,400,000	719,200,000
HOST HOTELS & RESORTS L.P. AND SUBSIDIARIES \| Exchangeable 2004 senior debentures 3.25% due April 2024
Stockholders Equity Note [Line Items]
Common OP units issued		11,500,000
HOST HOTELS & RESORTS L.P. AND SUBSIDIARIES \| Sales Agency Financing Agreement Twenty Twelve
Stockholders Equity Note [Line Items]
Common OP units issued			16,500,000	17,100,000

Income (Loss) from Continuing Operations Before Income Taxes (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011
Schedule Of Components Of Income Before Income Tax Expense Benefit [Line Items]
U.S. income (loss)	$ 213	$ (22)	$ (60)
Foreign income	18	45	32
Total	$ 231	$ 23	$ (28)

Provision (Benefit) for Income Taxes for Continuing Operations (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011
Reconciliation Of Provision Of Income Taxes [Line Items]
Current Federal	$ 2	$ 3	$ 1
Current State	4	1	1
Current Foreign	9	10	8
Current Income Tax Expense (Benefit), Total	15	14	10
Deferred Federal	4	11	(11)
Deferred State	1	1	(2)
Deferred Foreign	1	5	2
Deferred income taxes	6	17	(11)
Income tax provision (benefit) – continuing operations	$ 21	$ 31	$ (1)

Income Tax (Benefit) Provision Calculated at Statutory U.S. Federal Income Tax Rate and Actual Income Tax (Benefit) Provision Recorded (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011
Reconciliation Of Statutory Federal Tax Rate [Line Items]
Statutory federal income tax provision (benefit) – continuing operations	$ 81	$ 8	$ (10)
Adjustment for nontaxable (income) loss of Host Inc. – continuing operations	(77)	4
State income tax provision (benefit), net	5	2	(1)
Provision for uncertain tax positions	2	2
Foreign income tax provision	10	15	10
Income tax provision (benefit) – continuing operations	$ 21	$ 31	$ (1)

Unrecognized Tax Benefits Reconciliation (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2013	Dec. 31, 2012
Income Tax Contingency [Line Items]
Balance at January 1	$ 3	$ 5
Reduction due to expiration of certain statutes of limitation	0	(4)
Other increases (decreases)	2	2
Balance at December 31	$ 5	$ 3

Income Taxes - Additional Information (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011
Income Taxes [Line Items]
Valuation allowance	$ 61	$ 63
Net decrease and increase in valuation allowance	2	16
Domestic and foreign net operating loss, capital loss and tax credit carryovers	250
Deferred tax asset operating loss carryforwards	$ 85
Net operating loss carryover expiration date	Our net operating loss carryovers expire through 2031, and our foreign capital loss carryovers have no expiration period.
Expiration of tax credits	Our domestic alternative minimum tax credits have no expiration period and our foreign asset tax credits expire through 2017.
Income tax provision (benefit) continuing and discontinued operations	$ 26	32	$ (2)
Cash paid for income taxes, net of refunds received	$ 17	$ 12	$ 8
Statutory federal income tax rate	35.00%
Expected increase in unrecognized tax benefits within 12 months	$ 2
Lower Limit
Income Taxes [Line Items]
Open tax year by major tax jurisdiction	2010
Upper Limit
Income Taxes [Line Items]
Open tax year by major tax jurisdiction	2013
Mexico
Income Taxes [Line Items]
Valuation allowance	$ 44
Canada
Income Taxes [Line Items]
Valuation allowance	4
Brazil
Income Taxes [Line Items]
Valuation allowance	3
United States
Income Taxes [Line Items]
Valuation allowance	$ 10

Primary Components of Net Deferred Tax Asset (Detail) - USD ($) $ in Millions	Dec. 31, 2013	Dec. 31, 2012
Deferred tax assets
Accrued related party interest	$ 19	$ 17
Net operating loss and capital loss carryovers	85	101
Alternative minimum tax credits	5	4
Property and equipment	4	4
Investments in domestic affiliates	3	3
Other	1	2
Deferred revenue	57	54
Total gross deferred tax assets	174	185
Valuation allowance	61	63
Total deferred tax assets, net of valuation allowance	113	122
Deferred tax liabilities
Property and equipment	(21)	(23)
Investments in domestic and foreign affiliates	(6)	(6)
Other	(3)	(3)
Total gross deferred tax liabilities	(30)	(32)
Net deferred tax assets	$ 83	$ 90

Leases - Additional Information (Detail) $ in Millions	1 Months Ended	12 Months Ended
Leases - Additional Information (Detail) $ in Millions	Jul. 30, 2012 USD ($)	Dec. 31, 2013 USD ($) yr Hotel Contract	Dec. 31, 2012 USD ($) Hotel	Dec. 31, 2010 USD ($) Hotel	Dec. 31, 1995 Hotel
Leases Disclosure [Line Items]
Number of hotels subject to ground leases \| Hotel		36
Number of hotels \| Hotel		115
Deferred sale proceeds received			$ 51.0
Operating leases information		Leases and subleases contain one or more renewal options
Minimum additional renewal option period \| yr		5
Maximum additional renewal option period \| yr		10
Aggregate contingent liabilities relating to our former restaurant business		$ 17.0
Minimum payments from restaurants and the Sublessee payable to us under non-cancelable subleases		$ 5.0
Lower Limit
Leases Disclosure [Line Items]
Number of renewal options \| Contract		1
New York Marriott Marquis \| Vornado Realty Trust
Leases Disclosure [Line Items]
Lease term	20 years
Future minimum rental revenue under the non-cancelable lease on an annual basis	$ 12.5
Courtyard By Marriott Hotel
Leases Disclosure [Line Items]
Number of hotels \| Hotel			53
Deferred sale proceeds received		$ 51.0
Tenant collections accounts		11.0
Working capital		$ 5.0
Courtyard By Marriott Hotel \| Leasehold Interest
Leases Disclosure [Line Items]
Number of hotels \| Hotel					53
Residence Inn By Marriott
Leases Disclosure [Line Items]
Number of hotels \| Hotel				18
Deferred sale proceeds received				$ 17.2

Future Minimum Annual Rental Commitments Required Under Non-Cancelable Leases (Detail) $ in Millions	Dec. 31, 2013 USD ($)
Capital Leases
2014	$ 1
2015	1
2016
2017
2018
Thereafter
Total minimum lease payments	2
Operating Leases
2014	45
2015	43
2016	42
2017	42
2018	41
Thereafter	1,591
Total minimum lease payments	$ 1,804

Rent Expense (Detail) - USD ($) $ in Millions	12 Months Ended
Rent Expense (Detail) - USD ($) $ in Millions	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011
Schedule Of Operating Leases [Line Items]
Minimum rentals on operating leases	$ 50	$ 117	$ 114
Additional rentals based on sales	32	31	26
Rental payments based on real estate tax assessments	24	23	22
Less: sublease rentals	(3)	(3)	(3)
Operating Leases, Rent Expense, Total	$ 103	$ 168	$ 159

The increases or decreases in lease payments that result from changes occurring after the inception of the lease in the factors (other than the passage of time) on which lease payments are based, except that any escalation of minimum lease payments relating to increases in construction or acquisition cost of the leased property or for increases in some measure of cost or value during the construction or preconstruction period, are excluded from contingent rentals. Contingent rentals also may include amounts for which the triggering events have not yet occurred or the specified targets for which have not yet been achieved (such as sales based percentage rent), but which events are considered probable of occurring or which specified targets are considered probable of being achieved.

Summary of Status of Senior Executive Plans (Detail) - $ / shares
shares in Millions

12 Months Ended

Dec. 31, 2013

Dec. 31, 2012

Dec. 31, 2011

Shares

2.2

1.8

0.2

Restricted Stock | Executive Officer

(1.2)

(0.9)

(1.5)

Shares

Balance, at beginning of year

3.7

1.7

1.6

0.1

Balance, at beginning of year

^[1]

(0.8)

(0.6)

(1.3)

Forfeited/expired

(0.9)

(1.0)

(2.5)

Balance, at end of year

Issued in calendar year

^[1]

0.3

0.8

1.1

Fair Value

$ 11

Share Based Compensation Arrangement By Share Based Payment Award [Line Items]

^[1]

Forfeited/expired

Balance, at end of year

Issued in calendar year

^[1]

$ 19

$ 16

$ 15

[1]

Summary of Status of Senior Executive Plans (Parenthetical) (Detail) - Executive Officer - Restricted Stock - USD ($)
shares in Millions, $ in Millions

12 Months Ended

Dec. 31, 2013

Dec. 31, 2012

Dec. 31, 2011

Shares issued

^[1]

0.3

0.8

1.1

Value of shares withheld for employee tax requirements

$ 5.5

$ 9.5

$ 15.4

[1]

Employee Stock Plans - Additional Information (Detail) - USD ($)
$ / shares in Units, $ in Millions

12 Months Ended

Dec. 31, 2013

Dec. 31, 2012

Dec. 31, 2011

$ 18.0

$ 16.0

$ 19.0

2,200,000

1,800,000

200,000

Liability awards as a percentage of restricted stock awards granted

1,200,000

900,000

1,500,000

93.00%

Common stock reserved and available for issuance under the Comprehensive Plan

18,000,000

Restricted Stock | Executive Officer

$ 14.0

$ 12.0

$ 15.0

1,700,000

1,600,000

100,000

^[1]

800,000

600,000

1,300,000

Employee Stock Option

$ 1.8

$ 1.6

$ 1.8

Stock options outstanding

420,000

201,000

22,000

700,000

Stock options exercisable

700,000

Weighted average remaining life - outstanding

8 years

Weighted average remaining life - exercisable

8 years

Weighted average exercise price - outstanding

$ 15.41

Weighted average exercise price - exercisable

$ 15.41

Weighted average volatility, minimum

36.00%

Weighted average volatility, maximum

66.00%

Weighted average risk free rate, minimum

1.00%

Weighted average risk free rate, maximum

2.20%

Expected life

5 years 6 months

Employee Stock Option | Lower Limit

Weighted average dividend yield

3.00%

Employee Stock Option | Upper Limit

Weighted average dividend yield

3.50%

Other Stock Plans

$ 2.0

$ 1.9

Employee stock purchase plan discount percentage

116,000

84,000

93,000

Vesting term

3 years

10.00%

Senior Executive Plan | Restricted Stock | Executive Officer

Shares vesting percentage

1,700,000

50.00%

Payout comparison

Senior Executive Plan | Restricted Stock | Executive Officer | Total Shareholders Return

Shares vesting percentage

50.00%

Senior Executive Plan | Employee Stock Option | Executive Officer

400,000

[1]

Dispositions- Additional Information (Detail) $ in Millions	1 Months Ended				12 Months Ended
Dispositions- Additional Information (Detail) $ in Millions	Jan. 10, 2014 USD ($)	Apr. 30, 2013 USD ($) acre	Jan. 11, 2013 USD ($)	Nov. 09, 2012 USD ($)	Dec. 31, 2013 USD ($) Hotel	Dec. 31, 2012 USD ($) Hotel	Dec. 31, 2011 USD ($) Hotel
Income Statement Balance Sheet And Additional Disclosures By Disposal Groups Including Discontinued Operations [Line Items]
Number of properties sold \| Hotel					5	3	1
Proceeds from sales of assets, net					$ 643	$ 160	$ 46
Guarantor obligations, maximum exposure, undiscounted					11
Gain on sale					97	48	0
Contributed land				$ 36
Gain on sale of asset				$ 8
Cash received on land contribution		$ 24
Net gains on property transactions and other		$ 21			33	$ 13	$ 7
Marriot Quorum
Income Statement Balance Sheet And Additional Disclosures By Disposal Groups Including Discontinued Operations [Line Items]
Proceeds from sales of assets, net					56
Four Seasons
Income Statement Balance Sheet And Additional Disclosures By Disposal Groups Including Discontinued Operations [Line Items]
Proceeds from sales of assets, net					63
Portland Marriott
Income Statement Balance Sheet And Additional Disclosures By Disposal Groups Including Discontinued Operations [Line Items]
Proceeds from sales of assets, net					87
Ritz Carlton San Francisco
Income Statement Balance Sheet And Additional Disclosures By Disposal Groups Including Discontinued Operations [Line Items]
Proceeds from sales of assets, net					161
Ritz Carlton San Francisco \| Final Closing Obligations
Income Statement Balance Sheet And Additional Disclosures By Disposal Groups Including Discontinued Operations [Line Items]
Recognized deferred gain on sale of properties					11
Guarantor obligations, maximum exposure, undiscounted per year					4
Guarantor obligations, maximum exposure, undiscounted					11
Atlanta Marriott Marquis
Income Statement Balance Sheet And Additional Disclosures By Disposal Groups Including Discontinued Operations [Line Items]
Proceeds from sales of assets, net					293
Gain on sale					19
Deferred for an environmental contingency			$ 5		$ 5
Philadelphia Marriott Downtown \| Subsequent Event
Income Statement Balance Sheet And Additional Disclosures By Disposal Groups Including Discontinued Operations [Line Items]
Percentage of controlling interest sold	89.00%
Investment ownership percentage	11.00%
Courtyard Nashua \| Subsequent Event
Income Statement Balance Sheet And Additional Disclosures By Disposal Groups Including Discontinued Operations [Line Items]
Proceeds from sales of assets, net	$ 10
Newport Beach Marriott Hotel Spa
Income Statement Balance Sheet And Additional Disclosures By Disposal Groups Including Discontinued Operations [Line Items]
Land sold in acres \| acre		4

Revenues, Income (Loss) before Taxes, and Gain on Dispositions in Discontinued Operations (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011
Income Statement Balance Sheet And Additional Disclosures By Disposal Groups Including Discontinued Operations [Line Items]
Revenues	$ 104	$ 264	$ 288
Income before taxes	22	24	11
Gain on disposals, net of tax	$ 97	$ 48	$ 0

Net Income (Loss) Attributable to Host Inc. (Detail) - USD ($) $ in Millions	3 Months Ended								12 Months Ended
	Dec. 31, 2013	Sep. 30, 2013	Jun. 30, 2013	Mar. 31, 2013	Dec. 31, 2012	Sep. 30, 2012	Jun. 30, 2012	Mar. 31, 2012	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011
Income Statement Balance Sheet And Additional Disclosures By Disposal Groups Including Discontinued Operations [Line Items]
Net income (loss) attributable to Host Inc.									$ 317	$ 61	$ (15)
HOST HOTELS & RESORTS, INC.
Income Statement Balance Sheet And Additional Disclosures By Disposal Groups Including Discontinued Operations [Line Items]
Continuing operations, net of tax									203	(10)	(26)
Discontinued operations, net of tax									114	71	11
Net income (loss) attributable to Host Inc.	$ 123	$ 19	$ 119	$ 56	$ 15	$ (34)	$ 82	$ (2)	$ 317	$ 61	$ (15)

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

Income Statement Balance Sheet And Additional Disclosures By Disposal Groups Including Discontinued Operations [Line Items]

Net Income (Loss) Attributable to Host Hotels L.P. (Detail) - USD ($)
$ in Millions

3 Months Ended

12 Months Ended

Dec. 31, 2013

^[1]

Sep. 30, 2013

^[1]

Jun. 30, 2013

^[1]

Mar. 31, 2013

^[1]

Dec. 31, 2012

^[1]

Sep. 30, 2012

^[1]

Jun. 30, 2012

^[1]

Mar. 31, 2012

^[1]

Dec. 31, 2013

Dec. 31, 2012

Dec. 31, 2011

$ 317

$ 61

$ (15)

Income Statement Balance Sheet And Additional Disclosures By Disposal Groups Including Discontinued Operations [Line Items]

Continuing operations, net of tax

206

(9)

(26)

Discontinued operations, net of tax

115

$ 125

$ 19

$ 120

$ 57

$ 16

$ (35)

$ 83

$ (2)

$ 321

$ 62

$ (15)

[1]	Other income statement line items not presented for Host L.P. are equal to the amounts presented for Host Inc.

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

Fair Value Measurements on a Recurring Basis | Interest Rate Swap Derivatives

Estimated Fair Value of Assets Acquired and Liabilities Assumed in Acquisitions (Detail) - USD ($) $ in Millions	Dec. 31, 2013	Dec. 31, 2012
Business Acquisition [Line Items]
Property and equipment	$ 138	$ 409
Restricted cash, FF&E reserves and other assets	1	9
Total assets	139	418
Other liabilities	0	(1)
Net assets acquired	$ 139	$ 417

Summary of Unaudited Consolidated Pro Forma Results of Operations (Detail) $ / shares in Units, $ in Millions	12 Months Ended
	Dec. 31, 2013 USD ($) $ / shares $ / PartnershipUnit	Dec. 31, 2012 USD ($) $ / shares $ / PartnershipUnit
Business Acquisition, Pro Forma Information [Abstract]
Revenues \| $	$ 5,185	$ 5,136
Income from continuing operations \| $	214	12
Net income \| $	329	83
HOST HOTELS & RESORTS, INC.
Business Acquisition, Pro Forma Information [Abstract]
Net income attributable to Host Inc. \| $	$ 321	$ 81
Basic earnings per common share:
Continuing operations \| $ / shares	$ 0.27	$ 0.02
Discontinued operations \| $ / shares	0.16	0.09
Basic earnings per common share \| $ / shares	0.43	0.11
Diluted earnings per common share:
Continuing operations \| $ / shares	0.28	0.02
Discontinued operations \| $ / shares	0.15	0.09
Diluted earnings per common share \| $ / shares	$ 0.43	$ 0.11
HOST HOTELS & RESORTS L.P.
Business Acquisition, Pro Forma Information [Abstract]
Net income attributable to Host Inc. \| $	$ 325	$ 82
Basic earnings per common unit:
Continuing operations \| $ / PartnershipUnit	0.29	0.01
Discontinued operations \| $ / PartnershipUnit	0.15	0.10
Basic earnings per common unit \| $ / PartnershipUnit	0.44	0.11
Diluted earnings per common unit:
Continuing operations \| $ / PartnershipUnit	0.29	0.01
Discontinued operations \| $ / PartnershipUnit	0.15	0.10
Diluted earnings per common unit \| $ / PartnershipUnit	0.44	0.11

Acquisitions - Additional Information (Detail) R$ in Millions, $ in Millions	1 Months Ended				12 Months Ended
	Jan. 21, 2014 USD ($) Hotel Room	Dec. 10, 2013 USD ($)	May 31, 2013 USD ($) Room	Jul. 16, 2012 USD ($) Room	Dec. 31, 2013 USD ($) Hotel	Dec. 31, 2013 BRL (R$) Hotel	Dec. 31, 2012 USD ($) Hotel	Jun. 08, 2012 Hotel
Business Acquisition [Line Items]
Number of hotel acquired \| Hotel					1	1	1
Acquisition-related expenses					$ 1.0		$ 6.0
Pro forma, total revenues					109.0		37.0
Pro forma, net income					19.0		$ 6.0
Hyatt Place Waikiki Beach
Business Acquisition [Line Items]
Number of rooms \| Room			426
Acquisition purchase price			$ 138.5
FF&E replacement fund			$ 0.5
Grand Hyatt Washington
Business Acquisition [Line Items]
Number of rooms \| Room				888
Acquisition purchase price				$ 400.0
FF&E replacement fund				$ 17.0
Brazil Agreement To Develop
Business Acquisition [Line Items]
Number of hotels to be developed \| Hotel								2
Development cost incurred to date					45.0	R$ 94
New York Marriott Marquis Times Square
Business Acquisition [Line Items]
Asset acquisition		$ 19.9
New York Marriott Marquis Times Square \| Ground lease
Business Acquisition [Line Items]
Asset acquisition					$ 25.0
Subsequent Event
Business Acquisition [Line Items]
Number of hotel acquired \| Hotel	1
Acquisition-related expenses	$ 1.0
Subsequent Event \| Powell Hotel San Francisco California
Business Acquisition [Line Items]
Number of rooms \| Room	151
Acquisition purchase price	$ 75.0
Estimated fair value of asset acquired	$ 75.0

Fair Value Measurements - Additional Information (Detail) $ in Millions	12 Months Ended
	Dec. 31, 2013 USD ($) Property Contract	Dec. 31, 2012 USD ($) Property
Derivative Instruments And Hedging Activities Disclosures [Line Items]
Number of hotel properties impaired \| Property	1	1
Impairment loss	$ 1	$ 60
Estimated stabilized growth rate		3.00%
Discounted cash flow term		10 years
Capitalization rate		11.00%
Discount rate		12.00%
Number of foreign currency forward contracts outstanding \| Contract	5
Interest Rate Swap Derivatives \| 3-month LIBOR
Derivative Instruments And Hedging Activities Disclosures [Line Items]
Derivative spread in addition to LIBOR, lower range	2.70%
Derivative spread in addition to LIBOR, upper range	3.20%
Fixed To Floating \| Interest Rate Swap Derivatives
Derivative Instruments And Hedging Activities Disclosures [Line Items]
Number of interest rate derivative agreements \| Contract	3
Interest rate notional amount	$ 300
Fair value of swaps decreased	$ 6	$ 4
Derivative, fixed rate	5.531%
Derivative, maturity date	Mar. 01, 2014
Fair Value, Measurements, Nonrecurring
Derivative Instruments And Hedging Activities Disclosures [Line Items]
Number of hotel properties impaired \| Property	1	1

Fair Value of Financial Assets and Liabilities (Detail) - USD ($)
$ in Millions

Dec. 31, 2013

Dec. 31, 2012

Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]

^[1]

$ 1

$ 7

Fair Value Measurements on a Recurring Basis | Forward Currency Sale Contracts

^[1]

(3)

(6)

Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]

^[1]

Fair Value, Measurements, Nonrecurring | Impaired Hotel Properties Held And Used

^[1]

(6)

Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]

Impaired hotel properties held and used

^[2]

Significant Other Observable Inputs (Level 2) | Fair Value Measurements on a Recurring Basis | Interest Rate Swap Derivatives

Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]

^[1]

Significant Other Observable Inputs (Level 2) | Fair Value Measurements on a Recurring Basis | Forward Currency Sale Contracts

^[1]

(3)

(6)

Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]

^[1]

Significant Unobservable Inputs (Level 3) | Fair Value, Measurements, Nonrecurring | Impaired Hotel Properties Held And Used

^[1]

(6)

Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]

Impaired hotel properties held and used

^[2]

$ 9

$ 34

[1]	These derivative contracts have been designated as hedging instruments.
[2]	The fair value measurements are as of the measurement date of the impairment and may not reflect the book value as of December 31, 2013 and December 31, 2012, respectively.

Interest Rate Swap Derivatives Designated as Cash Flow Hedges (Detail)
$ in Millions, $ in Millions, $ in Millions

12 Months Ended

Dec. 31, 2013

USD ($)

Dec. 31, 2012

USD ($)

Dec. 31, 2011

USD ($)

Dec. 31, 2013

AUD ($)

Dec. 31, 2013

NZD ($)

Derivative [Line Items]

Change in fair value of derivative instruments

$ (3)

$ (7)

$ 1

Cash Flow Hedging | Interest Rate Swap 1

Derivative [Line Items]

Transaction Date

^[1]

November 2011

Notional Amount

^[1]

$ 62

Maturity Date

^[1]

2016-11

Swapped Index

^[1]

Reuters BBSY

All-in-Rate

^[1]

6.70%

Change in fair value of derivative instruments

^[1]

$ 1

(2)

Cash Flow Hedging | Interest Rate Swap 2

Derivative [Line Items]

Transaction Date

^[2]

February 2011

Notional Amount

^[2]

$ 79

Maturity Date

^[2]

2016-02

Swapped Index

^[2]

NZ$ Bank Bill

All-in-Rate

^[2]

7.15%

Change in fair value of derivative instruments

^[2]

$ 2

$ 0

[1]	The swap was entered into in connection with the A$82 million ($71 million) mortgage loan on the Hilton Melbourne South Wharf.
[2]	The swap was entered into in connection with the NZ$105 million ($87 million) mortgage loan on seven properties in New Zealand.

Interest Rate Swap Derivatives Designated as Cash Flow Hedges (Parenthetical) (Detail) $ in Millions, $ in Millions, $ in Millions	Dec. 31, 2013 USD ($) Hotel	Dec. 31, 2013 AUD ($) Hotel	Dec. 31, 2013 NZD ($) Hotel	Dec. 31, 2012 USD ($)
Derivative [Line Items]
Mortgage debt \| $	$ 709			$ 993
Hotels	115	115	115
New Zealand
Derivative [Line Items]
Hotels	7	7	7
Hilton Melbourne South Wharf
Derivative [Line Items]
Mortgage debt \| $	$ 71
Interest Rate Swap Derivatives \| New Zealand
Derivative [Line Items]
Mortgage debt	$ 87		$ 105
Hotels	7	7	7
Interest Rate Swap Derivatives \| Hilton Melbourne South Wharf
Derivative [Line Items]
Mortgage debt	$ 71	$ 82

Foreign Currency Sale Contracts (Detail) - Foreign Exchange Contract - European Joint Venture € in Millions, $ in Millions	12 Months Ended
	Dec. 31, 2013 USD ($)	Dec. 31, 2012 USD ($)	Dec. 31, 2013 EUR (€)
Derivative [Line Items]
Transaction Date Range	May 2008-January 2013
Total transaction amount	$ 163		€ 120
Forward purchase date range	May 2014-January 2016
Change in fair value gain (loss)	$ (5)	$ 4

Draws on Credit Facility that are Designated as Net Investments in International Operations (Detail)
€ in Millions, $ in Millions, $ in Millions

12 Months Ended

Dec. 31, 2013

USD ($)

Dec. 31, 2012

USD ($)

Dec. 31, 2011

USD ($)

Dec. 31, 2013

EUR (€)

Dec. 31, 2013

CAD ($)

Debt Instrument Designated As Hedges Of Net Investment In Foreign Operations [Line Items]

Foreign currency translation and other comprehensive income (loss) of unconsolidated affiliates

$ (18)

$ 20

$ (27)

Canadian Dollars

Debt Instrument Designated As Hedges Of Net Investment In Foreign Operations [Line Items]

Foreign currency translation and other comprehensive income (loss) of unconsolidated affiliates

^[1]

$ 31

^[1]

Euros

Debt Instrument Designated As Hedges Of Net Investment In Foreign Operations [Line Items]

Foreign currency translation and other comprehensive income (loss) of unconsolidated affiliates

102

€ 74

$ (5)

$ (2)

[1]	We have drawn an additional $71 million on the credit facility in Canadian dollars that has not been designated as a hedging instrument.

Draws on Credit Facility that are Designated as Net Investments in International Operations (Parenthetical) (Detail) - Dec. 31, 2013 - Canadian Dollars
$ in Millions, $ in Millions

USD ($)

CAD ($)

Debt Instrument Designated As Hedges Of Net Investment In Foreign Operations [Line Items]

Not Designated as Hedging Instrument

^[1]

$ 29

$ 31

Debt Instrument Designated As Hedges Of Net Investment In Foreign Operations [Line Items]

Quarterly Financial Information [Line Items]

$ 71

[1]	We have drawn an additional $71 million on the credit facility in Canadian dollars that has not been designated as a hedging instrument.

Fair Values of Certain Financial Liabilities and Other Financial Instruments (Detail) - USD ($) $ in Millions	Dec. 31, 2013	Dec. 31, 2012
Quoted Prices in Active Markets for Indentical Assets (Level 1) \| Senior Notes \| Carrying (Reported) Amount, Fair Value Disclosure
Financial liabilities
Senior notes (Level 1)	$ 2,647	$ 3,038
Quoted Prices in Active Markets for Indentical Assets (Level 1) \| Senior Notes \| Portion at Fair Value, Fair Value Disclosure
Financial liabilities
Senior notes (Level 1)	2,766	3,296
Quoted Prices in Active Markets for Indentical Assets (Level 1) \| Convertible Debt \| Carrying (Reported) Amount, Fair Value Disclosure
Financial liabilities
Exchangeable Senior Debentures (Level 1)	371	531
Quoted Prices in Active Markets for Indentical Assets (Level 1) \| Convertible Debt \| Portion at Fair Value, Fair Value Disclosure
Financial liabilities
Exchangeable Senior Debentures (Level 1)	603	725
Significant Other Observable Inputs (Level 2) \| Credit Facility \| Carrying (Reported) Amount, Fair Value Disclosure
Financial liabilities
Credit facility (Level 2)	946	763
Significant Other Observable Inputs (Level 2) \| Credit Facility \| Portion at Fair Value, Fair Value Disclosure
Financial liabilities
Credit facility (Level 2)	946	763
Significant Other Observable Inputs (Level 2) \| Mortgage Backed Securities, Other \| Carrying (Reported) Amount, Fair Value Disclosure
Financial liabilities
Mortgage debt and other, excluding capital leases (Level 2)	793	1,078
Significant Other Observable Inputs (Level 2) \| Mortgage Backed Securities, Other \| Portion at Fair Value, Fair Value Disclosure
Financial liabilities
Mortgage debt and other, excluding capital leases (Level 2)	$ 802	$ 1,094

Gain on Insurance Settlements - Additional Information (Detail) - USD ($) $ in Millions	1 Months Ended	12 Months Ended
	Feb. 22, 2011	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011	Jun. 17, 2011
Gain Contingencies [Line Items]
Gain on business interruption insurance proceeds		$ 0	$ 11	$ 2
Property insurance proceeds			19	11
New Zealand \| Loss from Catastrophes
Gain Contingencies [Line Items]
Estimate of maximum insurance deductible amount for property loss					$ 3
Description of loss due to earthquake	On February 22, 2011, Christchurch, New Zealand experienced an earthquake that resulted in substantial damage to the Hotel Novotel Christchurch Cathedral Square and the Hotel ibis Christchurch.	The ibis reopened in September 2012 and the Novotel reopened in August 2013; however, the historic portion of the Novotel, the Warners building, has been demolished and is not expected to be replaced.
Property damage incurred			33
Gain on business interruption insurance proceeds			$ 9	$ 2
Property insurance proceeds		$ 21
Insurance receivable		$ 8

Hotel Management Agreements and Operating and License Agreements - Additional Information (Detail)	12 Months Ended
	Dec. 31, 2013 Contract
Longterm Contracts Or Programs Disclosure [Line Items]
Percentage of revenue we are obligated to provide the manager	5.00%
Lower Limit
Longterm Contracts Or Programs Disclosure [Line Items]
Base fee percentage	2.00%
Management incentive fee percentage	10.00%
Number of renewal options	1
Lower Limit \| Contractual Rights
Longterm Contracts Or Programs Disclosure [Line Items]
Agreement initial term	15 years
Number of renewal options	1
Upper Limit
Longterm Contracts Or Programs Disclosure [Line Items]
Base fee percentage	3.00%
Management incentive fee percentage	20.00%
Upper Limit \| Contractual Rights
Longterm Contracts Or Programs Disclosure [Line Items]
Agreement initial term	25 years
Marriott
Longterm Contracts Or Programs Disclosure [Line Items]
Percentage of total revenues	58.00%
Starwood
Longterm Contracts Or Programs Disclosure [Line Items]
Percentage of total revenues	24.00%
Base fee percentage	1.00%
Starwood \| Occupancy \| Nonsoftware License Arrangement
Longterm Contracts Or Programs Disclosure [Line Items]
Percentage sales paid for fees	5.00%
Starwood \| Food and Beverage \| Nonsoftware License Arrangement
Longterm Contracts Or Programs Disclosure [Line Items]
Percentage sales paid for fees	2.00%
Hyatt
Longterm Contracts Or Programs Disclosure [Line Items]
Percentage of total revenues	12.00%

Revenues and Long-Lived Assets by Geographical Area (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011
Segment Reporting Information [Line Items]
Revenues	$ 5,166	$ 5,059	$ 4,714
Property and equipment, net	10,995	11,588	11,383
Operating Segments \| United States
Segment Reporting Information [Line Items]
Revenues	4,895	4,791	4,461
Property and equipment, net	10,498	11,095	10,874
Operating Segments \| Australia
Segment Reporting Information [Line Items]
Revenues	40	42	27
Property and equipment, net	106	133	136
Operating Segments \| Brazil
Segment Reporting Information [Line Items]
Revenues	30	33	33
Property and equipment, net	76	39	42
Operating Segments \| Canada
Segment Reporting Information [Line Items]
Revenues	97	95	92
Property and equipment, net	89	97	126
Operating Segments \| Chile
Segment Reporting Information [Line Items]
Revenues	34	37	28
Property and equipment, net	54	63	58
Operating Segments \| Mexico
Segment Reporting Information [Line Items]
Revenues	24	25	24
Property and equipment, net	32	26	23
Operating Segments \| New Zealand
Segment Reporting Information [Line Items]
Revenues	46	36	32
Property and equipment, net	140	135	124
Operating Segments \| United Kingdom
Segment Reporting Information [Line Items]
Revenues			17
Property and equipment, net

Geographic and Business Segment Information - Additional Information (Detail)	12 Months Ended
	Dec. 31, 2013 Entity Country
Segment Reporting Information [Line Items]
Number of operating segments \| Entity	1
Australia, Brazil, Canada, Chile, Mexico and New Zealand
Segment Reporting Information [Line Items]
Foreign operations, number of countries \| Country	6

Guarantees and Contingencies - Additional Information (Detail) $ in Millions	1 Months Ended		12 Months Ended
	Jan. 11, 2013 USD ($)	Jan. 31, 2005 Hotel	Dec. 31, 2013 USD ($) Hotel	Dec. 31, 2012 Hotel	Dec. 31, 2011 Hotel
Commitments And Contingencies Disclosure [Line Items]
Aggregate contingent liabilities relating to our former restaurant business			$ 17.0
Guarantor obligations, maximum exposure, undiscounted			$ 11.0
Hotel sold that are still contingently liable for ground lease \| Hotel			5	3	1
Future minimum lease payments			$ 1,804.0
Guarantor Obligations, Maximum Payment			4.0
Guarantee obligation amount			11.0
Atlanta Marriott Marquis
Commitments And Contingencies Disclosure [Line Items]
Environmental liabilities	$ 5.0		5.0
Contingent Consideration Hotel
Commitments And Contingencies Disclosure [Line Items]
Hotel sold that are still contingently liable for ground lease \| Hotel		2
Future minimum lease payments			12.0
Municipal Bonds
Commitments And Contingencies Disclosure [Line Items]
Guarantor obligations, maximum exposure, undiscounted			$ 14.7
Debt maturity date			2027

Legal Proceedings - Additional Information (Detail) - USD ($)		1 Months Ended			12 Months Ended
	Jun. 03, 2010	Nov. 23, 2011	Feb. 12, 2010	Feb. 08, 2010	Dec. 31, 2013
Other Litigation Cases
Loss Contingencies [Line Items]
Loss contingency accrual					$ 18,000,000
Estimate of possible losses					50,000,000
Keystone
Loss Contingencies [Line Items]
Loss contingency accrual					68,000,000
Escrow reserve					25,000,000
Keystone \| Slander
Loss Contingencies [Line Items]
Damages awarded	$ 34,300,000			$ 39,000,000
Keystone \| Breach of Contract
Loss Contingencies [Line Items]
Damages awarded	39,000,000			$ 34,300,000
Keystone \| Exemplary Damages Award
Loss Contingencies [Line Items]
Damages awarded		$ 7,500,000	$ 7,500,000
Keystone \| Pre-judgment and Post-judgment Interest
Loss Contingencies [Line Items]
Damages awarded	6,800,000				17,000,000
Keystone \| Attorneys' Fees
Loss Contingencies [Line Items]
Damages awarded	3,500,000
Keystone \| Additional Attorneys' fees
Loss Contingencies [Line Items]
Damages awarded	$ 750,000
Individual Counterparty \| Other Litigation Cases
Loss Contingencies [Line Items]
Maximum exposure of litigation					$ 150,000

Quarterly Financial Data (Detail) - USD ($)
$ / shares in Units, $ in Millions

3 Months Ended

12 Months Ended

Dec. 31, 2013

Sep. 30, 2013

Jun. 30, 2013

Mar. 31, 2013

Dec. 31, 2012

Sep. 30, 2012

Jun. 30, 2012

Mar. 31, 2012

Dec. 31, 2013

Dec. 31, 2012

Dec. 31, 2011

Income (loss) from continuing operations

$ 5,166

$ 5,059

$ 4,714

Operating profit

512

362

309

210

(8)

(27)

Income (loss) from discontinued operations, net of tax

115

325

(16)

$ 317

$ 61

$ (15)

$ 0.27

$ (0.01)

$ (0.04)

0.16

0.09

0.02

0.43

0.08

(0.02)

0.27

(0.01)

(0.04)

0.15

0.09

0.02

$ 0.42

$ 0.08

$ (0.02)

$ 115

$ 71

$ 11

HOST HOTELS & RESORTS, INC.

325

(16)

Quarterly Financial Information [Line Items]

Income (loss) from continuing operations

$ 1,331

$ 1,211

$ 1,399

$ 1,225

$ 1,673

$ 1,149

$ 1,308

$ 929

Operating profit

138

205

108

175

116

(39)

(54)

Income (loss) from discontinued operations, net of tax

126

121

(36)

$ 123

$ 19

$ 119

$ 56

$ 15

$ (34)

$ 82

$ (2)

317

(15)

$ 0.07

$ 0.01

$ 0.16

$ 0.04

$ 0.01

$ (0.05)

$ 0.11

$ (0.08)

0.09

0.02

0.04

0.01

0.08

0.16

0.03

0.16

0.08

0.02

(0.05)

0.11

0.07

0.01

0.16

0.04

0.01

(0.05)

0.11

(0.08)

0.09

0.02

0.04

0.01

$ 0.08

$ 0.16

$ 0.03

$ 0.16

$ 0.08

$ 0.02

$ (0.05)

$ 0.11

$ 67

$ 17

$ 5

$ 26

$ 10

$ 3

$ 4

$ 54

126

121

(36)

Quarterly Financial Information [Line Items]

Income (loss) from continuing operations

5,166

5,059

4,714

Operating profit

512

362

309

210

(8)

(27)

Income (loss) from discontinued operations, net of tax

115

325

(16)

$ 125

^[1]

$ 19

^[1]

$ 120

^[1]

$ 57

^[1]

$ 16

^[1]

$ (35)

^[1]

$ 83

^[1]

$ (2)

^[1]

$ 321

$ 62

$ (15)

$ 0.08

^[1]

$ 0.01

^[1]

$ 0.15

^[1]

$ 0.04

^[1]

$ 0.01

^[1]

$ (0.05)

^[1]

$ 0.11

^[1]

$ (0.08)

^[1]

$ 0.28

$ (0.01)

$ (0.04)

0.09

^[1]

0.02

^[1]

0.01

^[1]

0.04

^[1]

0.01

^[1]

0.01

^[1]

0.08

^[1]

0.15

0.10

0.02

0.17

^[1]

0.03

^[1]

0.16

^[1]

0.08

^[1]

0.02

^[1]

(0.05)

^[1]

0.12

^[1]

0.43

0.09

(0.02)

0.08

^[1]

0.01

^[1]

0.15

^[1]

0.04

^[1]

0.01

^[1]

(0.05)

^[1]

0.11

^[1]

(0.08)

^[1]

0.28

(0.01)

(0.04)

0.09

^[1]

0.02

^[1]

0.01

^[1]

0.04

^[1]

0.01

^[1]

0.01

^[1]

$ 0.08

^[1]

0.15

0.10

0.02

$ 0.17

^[1]

$ 0.03

^[1]

$ 0.16

^[1]

$ 0.08

^[1]

$ 0.02

^[1]

$ (0.05)

^[1]

$ 0.12

^[1]

$ 0.43

$ 0.09

$ (0.02)

$ 115

$ 71

$ 11