View Filing Data

Cash and cash equivalents

264

281

Restricted cash

262

684

Total assets

12,041

12,207

Debt

Senior notes, including $395 million and $386 million, respectively, net of discount, of Exchangeable Senior Debentures

2,894

2,884

Accounts payable and accrued expenses

770

704

Mortgage debt

389

404

Total debt

4,053

3,992

230

298

Host Hotels & Resorts, Inc. stockholders’ equity:

310

324

Total liabilities

4,593

4,614

Partnership interests

186

225

Common stock, par value $.01, 1,050 million shares authorized, 749.9 million shares and 755.8 million shares issued and outstanding, respectively

Additional paid-in capital

8,396

8,476

Total equity of Host Hotels & Resorts, Inc. stockholders

(84)

(50)

Deficit

(1,089)

(1,098)

7,230

7,336

Non-controlling interests—other consolidated partnerships

Total equity

7,262

7,368

Total liabilities, non-controlling interests and equity

12,041

12,207

Host Hotels & Resorts, L.P. capital:

(84)

(50)

Property and equipment, net

ASSETS

10,776

10,575

Due from managers

135

Advances to and investments in affiliates

419

433

Deferred financing costs, net

Furniture, fixtures and equipment replacement fund

151

129

Cash and cash equivalents

264

281

Restricted cash

262

684

Total assets

12,041

12,207

Debt

Senior notes, including $395 million and $386 million, respectively, net of discount, of Exchangeable Senior Debentures

2,894

2,884

Accounts payable and accrued expenses

770

704

Mortgage debt

389

404

Total debt

4,053

3,992

230

298

Host Hotels & Resorts, Inc. stockholders’ equity:

310

324

Total liabilities

4,593

4,614

Partnership interests

^[1]

186

225

Total liabilities, non-controlling interests and equity

(84)

(50)

Total equity

7,262

7,368

12,041

12,207

Host Hotels & Resorts, L.P. capital:

General partner

Limited partner

7,313

7,385

Total Host Hotels & Resorts, L.P. capital

(84)

(50)

7,230

7,336

Non-controlling interests—consolidated partnerships

Total capital

$ 7,262

$ 7,368

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

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) (Unaudited) - USD ($) $ in Millions	Jun. 30, 2015	Dec. 31, 2014
Senior notes	$ 395	$ 386
Credit facility	$ 770	$ 704
Common stock, par value	$ 0.01	$ 0.01
Common stock, shares authorized	1,050,000,000	1,050,000,000
Common stock, shares issued	749,900,000	755,800,000
Common stock, shares outstanding	749,900,000	755,800,000
HOST HOTELS & RESORTS L.P.
Senior notes	$ 395	$ 386
Credit facility	770	704
Term Loan
Credit facility	500	500
Term Loan \| HOST HOTELS & RESORTS L.P.
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.

Organization Consolidation And Presentation Of Financial Statements [Abstract]

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
REVENUES
Rooms	$ 937	$ 921	$ 1,755	$ 1,729
Food and beverage	420	415	823	820
Other	92	95	188	191
Total revenues	1,449	1,431	2,766	2,740
EXPENSES
Rooms	233	234	453	460
Food and beverage	289	285	572	569
Other departmental and support expenses	330	320	651	635
Management fees	68	66	120	116
Other property-level expenses	99	98	197	195
Depreciation and amortization	180	174	355	346
Corporate and other expenses	23	29	47	63
Gain on insurance settlements				(3)
Total operating costs and expenses	1,222	1,206	2,395	2,381
OPERATING PROFIT	227	225	371	359
Interest income	1	1	2	2
Interest expense	(73)	(55)	(124)	(113)
Gain on sale of assets	53		57	111
Loss on foreign currency transactions and derivatives	(1)	(1)	(2)	(1)
Equity in earnings (losses) of affiliates	22	4	20	(3)
INCOME BEFORE INCOME TAXES	229	174	324	355
Provision for income taxes	(13)	(15)	(4)	(11)
NET INCOME	216	159	320	344
Less: Net income attributable to non-controlling interests	(4)	(4)	(10)	(10)
NET INCOME ATTRIBUTABLE TO REPORTING ENTITY	$ 212	$ 155	$ 310	$ 334
Basic earnings per common share	$ 0.28	$ 0.21	$ 0.41	$ 0.44
Diluted earnings per common share	$ 0.28	$ 0.21	$ 0.41	$ 0.44
HOST HOTELS & RESORTS L.P.
REVENUES
Rooms	$ 937	$ 921	$ 1,755	$ 1,729
Food and beverage	420	415	823	820
Other	92	95	188	191
Total revenues	1,449	1,431	2,766	2,740
EXPENSES
Rooms	233	234	453	460
Food and beverage	289	285	572	569
Other departmental and support expenses	330	320	651	635
Management fees	68	66	120	116
Other property-level expenses	99	98	197	195
Depreciation and amortization	180	174	355	346
Corporate and other expenses	23	29	47	63
Gain on insurance settlements				(3)
Total operating costs and expenses	1,222	1,206	2,395	2,381
OPERATING PROFIT	227	225	371	359
Interest income	1	1	2	2
Interest expense	(73)	(55)	(124)	(113)
Gain on sale of assets	53		57	111
Loss on foreign currency transactions and derivatives	(1)	(1)	(2)	(1)
Equity in earnings (losses) of affiliates	22	4	20	(3)
INCOME BEFORE INCOME TAXES	229	174	324	355
Provision for income taxes	(13)	(15)	(4)	(11)
NET INCOME	216	159	320	344
Less: Net income attributable to non-controlling interests	(1)	(2)	(6)	(5)
NET INCOME ATTRIBUTABLE TO REPORTING ENTITY	$ 215	$ 157	$ 314	$ 339
Basic earnings per common share	$ 0.29	$ 0.21	$ 0.42	$ 0.45
Diluted earnings per common share	$ 0.29	$ 0.21	$ 0.42	$ 0.45

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) (Unaudited) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
NET INCOME	$ 216	$ 159	$ 320	$ 344
OTHER COMPREHENSIVE INCOME (LOSS), NET OF TAX:
Foreign currency translation and other comprehensive income (loss) of unconsolidated affiliates	3	4	(44)	11
Change in fair value of derivative instruments		1	15	1
Amounts reclassified from other comprehensive income (loss)			(5)
OTHER COMPREHENSIVE INCOME (LOSS), NET OF TAX	3	5	(34)	12
COMPREHENSIVE INCOME	219	164	286	356
Less: Comprehensive income attributable to non-controlling interests	(4)	(4)	(10)	(10)
COMPREHENSIVE INCOME ATTRIBUTABLE TO REPORTING ENTITY	215	160	276	346
HOST HOTELS & RESORTS L.P.
NET INCOME	216	159	320	344
OTHER COMPREHENSIVE INCOME (LOSS), NET OF TAX:
Foreign currency translation and other comprehensive income (loss) of unconsolidated affiliates	3	4	(44)	11
Change in fair value of derivative instruments		1	15	1
Amounts reclassified from other comprehensive income (loss)			(5)
OTHER COMPREHENSIVE INCOME (LOSS), NET OF TAX	3	5	(34)	12
COMPREHENSIVE INCOME	219	164	286	356
Less: Comprehensive income attributable to non-controlling interests	(1)	(2)	(6)	(5)
COMPREHENSIVE INCOME ATTRIBUTABLE TO REPORTING ENTITY	$ 218	$ 162	$ 280	$ 351

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014
OPERATING ACTIVITIES
NET INCOME	$ 320	$ 344
Adjustments to reconcile to cash provided by operations:
Depreciation and amortization	355	346
Amortization of finance costs, discounts and premiums, net	13	13
Non-cash loss on extinguishment of debt	6	2
Stock compensation expense	8	10
Deferred income taxes	(1)	(3)
Gain on sale of assets	(57)	(111)
Loss on foreign currency transactions and derivatives	2	1
Equity in (earnings) losses of affiliates	(20)	3
Change in due from managers	(60)	(76)
Distributions from equity investments	7
Changes in other assets	33	6
Changes in other liabilities	(44)	(10)
Cash provided by operating activities	562	525
INVESTING ACTIVITIES
Proceeds from sales of assets, net	174	274
Return of investment		42
Acquisitions	(402)	(73)
Advances to and investments in affiliates	(2)	(32)
Capital expenditures:
Renewals and replacements	(220)	(147)
Redevelopment and acquisition-related investments	(101)	(36)
New development		(5)
Change in furniture, fixtures and equipment ("FF&E") replacement fund	(12)	(11)
Change in restricted cash for investing activities	(3)
Cash provided by (used in) investing activities	(566)	12
FINANCING ACTIVITIES
Financing costs	(4)	(4)
Issuances of debt	499
Draws on credit facility	250
Repayment of credit facility	(170)	(225)
Repurchase/redemption of senior notes	(500)	(150)
Mortgage debt and other prepayments and scheduled maturities		(373)
Common stock repurchase	(131)
Dividends on common stock	(348)	(204)
Other financing activities	(6)	(4)
Cash used in financing activities	(410)	(960)
Effects of exchange rate changes on cash held	(8)	2
DECREASE IN CASH AND CASH EQUIVALENTS	(422)	(421)
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD	684	861
CASH AND CASH EQUIVALENTS, END OF PERIOD	262	440
Supplemental disclosure of cash flow information:
Interest paid - periodic interest expense	88	93
Interest paid - debt extinguishments	15	2
Total interest paid	103	95
Income taxes paid	6	14
HOST HOTELS & RESORTS L.P.
OPERATING ACTIVITIES
NET INCOME	320	344
Adjustments to reconcile to cash provided by operations:
Depreciation and amortization	355	346
Amortization of finance costs, discounts and premiums, net	13	13
Non-cash loss on extinguishment of debt	6	2
Stock compensation expense	8	10
Deferred income taxes	(1)	(3)
Gain on sale of assets	(57)	(111)
Loss on foreign currency transactions and derivatives	2	1
Equity in (earnings) losses of affiliates	(20)	3
Change in due from managers	(60)	(76)
Distributions from equity investments	7
Changes in other assets	33	6
Changes in other liabilities	(44)	(10)
Cash provided by operating activities	562	525
INVESTING ACTIVITIES
Proceeds from sales of assets, net	174	274
Return of investment		42
Acquisitions	(402)	(73)
Advances to and investments in affiliates	(2)	(32)
Capital expenditures:
Renewals and replacements	(220)	(147)
Redevelopment and acquisition-related investments	(101)	(36)
New development		(5)
Change in furniture, fixtures and equipment ("FF&E") replacement fund	(12)	(11)
Change in restricted cash for investing activities	(3)
Cash provided by (used in) investing activities	(566)	12
FINANCING ACTIVITIES
Financing costs	(4)	(4)
Issuances of debt	499
Draws on credit facility	250
Repayment of credit facility	(170)	(225)
Repurchase/redemption of senior notes	(500)	(150)
Mortgage debt and other prepayments and scheduled maturities		(373)
Repurchase of common OP units	(131)
Distributions on common OP units	(352)	(207)
Other financing activities	(2)	(1)
Cash used in financing activities	(410)	(960)
Effects of exchange rate changes on cash held	(8)	2
DECREASE IN CASH AND CASH EQUIVALENTS	(422)	(421)
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD	684	861
CASH AND CASH EQUIVALENTS, END OF PERIOD	262	440
Supplemental disclosure of cash flow information:
Interest paid - periodic interest expense	88	93
Interest paid - debt extinguishments	15	2
Total interest paid	103	95
Income taxes paid	$ 6	$ 14

Organization

6 Months Ended

Jun. 30, 2015

Organization


1.	Organization

Description of Business

Host Hotels & Resorts, Inc. operates as a self-managed and self-administered real estate investment trust (“REIT”), with its operations conducted solely through Host Hotels & Resorts, L.P. and its subsidiaries. Host Hotels & Resorts, L.P., a Delaware limited partnership, operates through an umbrella partnership structure, with Host Hotels & Resorts, Inc., a Maryland corporation, as its sole general partner. In the notes to these condensed consolidated financial statements, we use the terms “we” or “our” to refer to Host Hotels & Resorts, Inc. and Host Hotels & Resorts, L.P. together, unless the context indicates otherwise. We also use the term “Host Inc.” specifically to refer to Host Hotels & Resorts, Inc. and the term “Host L.P.” specifically to refer to Host Hotels & Resorts, L.P. in cases where it is important to distinguish between Host Inc. and Host L.P. As of June 30, 2015, Host Inc. holds approximately 99% of Host L.P.’s OP units.

Consolidated Portfolio

As of June 30, 2015, our consolidated portfolio, primarily consisting of luxury and upper upscale hotels, is located in the following countries:

	Hotels
United States		95
Australia		1
Brazil		3
Canada		2
Chile		2
Mexico		1
New Zealand		7
Total		111

International Joint Ventures

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”) (9 hotels) and a 33.4% interest in the second fund (“Euro JV Fund II”) (9 hotels).

As of June 30, 2015, the Euro JV owned hotels located in the following countries:

	Hotels
Belgium		3
France		4
Germany		2
Italy		3
Poland		1
Spain		2
Sweden		1
The Netherlands		1
United Kingdom		1
Total		18

In addition, our joint venture in Asia (“Asia/Pacific JV”), in which we own a 25% non-controlling interest, owns one hotel in Australia and a non-controlling interest in an entity that owns three operating hotels and four additional hotels in various stages of development in India.

Summary of Significant Accounting Policies

6 Months Ended

Jun. 30, 2015

Accounting Policies [Abstract]

Summary of Significant Accounting Policies


2.	Summary of Significant Accounting Policies

We have condensed or omitted certain information and footnote disclosures normally included in financial statements presented in accordance with GAAP in the accompanying unaudited condensed consolidated financial statements. We believe the disclosures made herein are adequate to prevent the information presented from being misleading. However, the financial statements should be read in conjunction with the consolidated financial statements and notes thereto included in our Annual Report on Form 10–K for the year ended December 31, 2014.

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

In our opinion, the accompanying financial statements reflect all adjustments necessary to present fairly our financial position as of June 30, 2015, and the results of our operations for the quarter and year-to-date periods ended June 30, 2015 and 2014, respectively, and cash flows for the year-to-date periods ended June 30, 2015 and 2014, respectively. Interim results are not necessarily indicative of full year performance because of the impact of seasonal variations.

New Accounting Standards

In April 2015, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) No. 2015-03, Interest—Imputation of Interest (Subtopic 835-30): Simplifying the Presentation of Debt Issuance Costs. The new standard requires that debt issuance costs related to a recognized debt liability be presented in the balance sheet as a direct deduction from the carrying amount of that debt liability, consistent with debt discounts. The standard is effective for annual reporting periods beginning after December 15, 2015. Upon adoption of the standard we will reclassify deferred financing costs, net, from total assets to net of debt in the liabilities section of our balance sheet. Adoption of this standard will affect only the presentation of our balance sheet.

In February 2015, the FASB issued ASU 2015-02, Amendments to the Consolidation Analysis. The ASU amends the consolidation guidance for variable interest entities (VIEs) and general partners' investments in limited partnerships and modifies the evaluation of whether limited partnerships and similar legal entities are VIEs or voting interest entities. The ASU is effective for interim and annual reporting periods beginning after December 15, 2015, with early adoption permitted. We currently are evaluating the effect of the ASU on our consolidated financial statements and related disclosures.

In May 2014, the FASB issued ASU No. 2014-09, Revenue from Contracts with Customers (Topic 606), which affects virtually all aspects of an entity’s revenue recognition. The core principle of the new standard is that revenue should be recognized to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. The standard is effective for annual reporting periods beginning after December 15, 2017. We have not yet completed our assessment of the effect of the new standard on our financial statements, including possible transition alternatives.

Earnings Per Common Share (Unit)

6 Months Ended

Jun. 30, 2015

Earnings Per Share [Abstract]

Earnings Per Common Share (Unit)


3.	Earnings Per Common Share (Unit)

Host Inc. Earnings Per Common Share

Basic earnings per common share is computed by dividing net income attributable to common stockholders by the weighted average number of shares of Host Inc. common stock outstanding. Diluted earnings per common share is computed by dividing net income 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. We have 9.2 million OP units which are convertible into 9.4 million common shares which are not included in Host Inc.’s calculation of earnings per share as their effect is not dilutive. The calculation of basic and diluted earnings per common share is shown below (in millions, except per share amounts):

	Quarter ended June 30,						Year-to-date ended June 30,
	2015			2014			2015			2014
Net income	$	216		$	159		$	320		$	344
Less: Net income attributable to non-controlling interests		(4	)		(4	)		(10	)		(10	)
Net income attributable to Host Inc.		212			155			310			334
Assuming conversion of exchangeable senior debentures		7			—			—			—
Diluted income attributable to Host Inc.	$	219		$	155		$	310		$	334

Basic weighted average shares outstanding		753.9			755.4			755.0			755.1
Assuming weighted average shares for conversion of exchangeable senior debentures		31.2			—			—			—
Assuming distribution of common shares granted under the comprehensive stock plans, less shares assumed purchased at market		0.4			0.5			0.4			0.5
Diluted weighted average shares outstanding ⁽¹⁾		785.5			755.9			755.4			755.6

Basic earnings per common share	$	.28		$	.21		$	.41		$	.44
Diluted earnings per common share	$	.28		$	.21		$	.41		$	.44
___________

(1)

There were approximately 31 million potentially dilutive shares for the year-to-date period ended June 30, 2015, and approximately 30 million potentially dilutive units for both the quarter and year-to-date periods ended June 30, 2014, related to our exchangeable senior debentures, which shares were not included in the computation of diluted earnings per share because to do so would have been anti-dilutive for the period.

Host L.P. Earnings Per Common Unit

Basic earnings per common unit is computed by dividing net income attributable to common unitholders by the weighted average number of common units outstanding. Diluted earnings per common unit is computed by dividing net income 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 per unit is shown below (in millions, except per unit amounts):

	Quarter ended June 30,						Year-to-date ended June 30,
	2015			2014			2015			2014
Net income	$	216		$	159		$	320		$	344
Less: Net income attributable to non-controlling interests		(1	)		(2	)		(6	)		(5	)
Net income attributable to Host L.P.		215			157			314			339
Assuming conversion of exchangeable senior debentures		7			—			—			—
Diluted income attributable to Host L.P.	$	222		$	157		$	314		$	339

Basic weighted average units outstanding		747.3			748.9			748.3			748.7
Assuming weighted average units for conversion of exchangeable senior debentures		30.5			—			—			—
Assuming distribution of common units granted under the comprehensive stock plans, less units assumed purchased at market		0.3			0.6			0.4			0.5
Diluted weighted average units outstanding⁽¹⁾		778.1			749.5			748.7			749.2

Basic earnings per common unit	$	.29		$	.21		$	.42		$	.45
Diluted earnings per common unit	$	.29		$	.21		$	.42		$	.45
___________

(1)

There were approximately 30 million potentially dilutive units for the year-to-date ended June 30, 2015, and approximately 30 million and 29 million potentially dilutive shares for the quarter and year-to-date periods ended June 30, 2014, respectively, related to our exchangeable senior debentures, which units were not included in the computation of diluted earnings per unit because to do so would have been anti-dilutive for the period.

Property and Equipment

6 Months Ended

Jun. 30, 2015

Property Plant And Equipment [Abstract]

Property and Equipment


4.	Property and Equipment

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

	June 30, 2015			December 31, 2014
Land and land improvements	$	2,047		$	1,990
Buildings and leasehold improvements		13,665			13,336
Furniture and equipment		2,281			2,217
Construction in progress		165			209
		18,158			17,752
Less accumulated depreciation and amortization		(7,382	)		(7,177	)
	$	10,776		$	10,575

Debt

6 Months Ended

Jun. 30, 2015

Debt Disclosure [Abstract]

Debt


5.	Debt

Senior notes. On May 15, 2015, we issued $500 million of 4% Series E senior notes due June of 2025 for net proceeds of approximately $495 million. Interest on the Series E senior notes is payable semi-annually in arrears on June 15 and December 15, commencing June 15, 2015. In contemplation of this issuance, we entered into interest rate hedging transactions that reduced our effective interest rate on the 4% Series E senior notes to 3.93%. The net proceeds from the issuance of the Series E senior notes, along with cash on hand, were used on June 15, 2015 to redeem $500 million of 5^7/8% Series X senior notes due 2019 at an aggregate redemption price of $515 million.

Credit facility. During the quarter, we had net borrowings under the revolver portion of our credit facility of $80 million. As of June 30, 2015, we have $730 million of available capacity under the credit facility.

Investment in Affiliates

6 Months Ended

Jun. 30, 2015

Investments In And Advances To Affiliates Schedule Of Investments [Abstract]

Investment in Affiliates


6.	Investment in Affiliates

On June 5, 2015 the Euro JV Fund I sold the Crowne Plaza Hotel Amsterdam City Centre for €106 million ($118 million), which includes the €3 million ($3 million) FF&E reserve, for a gain of approximately €36 million ($40 million). In connection with the sale, the Euro JV Fund I repaid the €44 million ($49 million) mortgage loan associated with the property. Subsequent to quarter end, on July 8, 2015, the European joint venture distributed proceeds of the sale to its Fund I partners, of which Host’s share was approximately €19 million ($21 million). Additionally, in July 2015, the Euro JV Fund II partners amended the Euro JV partnership agreement to extend the commitment period for Euro JV Fund II by one year to June 27, 2016.

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

6 Months Ended

Jun. 30, 2015

Equity [Abstract]

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


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

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

	Equity of Host Inc.			Non-redeemable, non-controlling interests			Total equity			Redeemable, non-controlling interests
Balance, December 31, 2014	$	7,336		$	32		$	7,368		$	225
Net income		310			6			316			4
Issuance of common stock		12			—			12			—
Repurchase of common stock		(131	)		—			(131	)		—
Dividends declared on common stock		(301	)		—			(301	)		—
Distributions to non-controlling interests		—			(5	)		(5	)		(4	)
Other changes in ownership		38			(1	)		37			(39	)
Other comprehensive loss		(34	)		—			(34	)		—
Balance, June 30, 2015	$	7,230		$	32		$	7,262		$	186

Capital of Host L.P.

As of June 30, 2015, Host Inc. is the owner of approximately 99% of Host L.P.’s common OP units. The remaining common OP units are held by third party limited partners. Each OP unit may be redeemed for cash or, at the election of Host Inc., Host Inc. common stock, based on the conversion ratio of 1.021494 shares of Host Inc. common stock for each OP unit.

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

Capital of Host L.P. is allocated between controlling and non-controlling interests as follows (in millions):

										Limited
				Non-						Partnership
	Capital of			controlling			Total			Interests of
	Host L.P.			Interests			Capital			Third Parties
Balance, December 31, 2014	$	7,336		$	32		$	7,368		$	225
Net income		310			6			316			4
Issuance of common OP units		12			—			12			—
Repurchase of common OP units		(131	)		—			(131	)		—
Distributions declared on common OP units		(301	)		—			(301	)		(4	)
Distributions to non-controlling interests		—			(5	)		(5	)		—
Other changes in ownership		38			(1	)		37			(39	)
Other comprehensive loss		(34	)		—			(34	)		—
Balance, June 30, 2015	$	7,230		$	32		$	7,262		$	186

Dividends/Distributions

On June 11, 2015, Host Inc.’s Board of Directors declared a regular quarterly cash dividend of $0.20 per share on its common stock. The dividend was paid on July 15, 2015 to stockholders of record as of June 30, 2015. Accordingly, Host L.P. made a distribution of $0.2042988 per unit on its common OP units based on the current conversion ratio.

Share Repurchase

Host Inc.’s Board of Directors has authorized a program to repurchase up to $500 million of common stock. The common stock may be purchased in the open market or through private transactions from time to time through December 31, 2016, dependent upon market conditions. The plan does not obligate us to repurchase any specific number of shares and may be suspended at any time at management’s discretion. As of June 30, 2015, the Company has repurchased 6.55 million shares at an average price of $20.07 for a total purchase price of approximately $131 million. The shares repurchased constitute authorized but unissued shares. We have $369 million of repurchase capacity remaining under the program.

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
-Section S99
-Paragraph 4
-Subparagraph (SAB TOPIC 4.C)
-URI http://asc.fasb.org/extlink&oid=27012166&loc=d3e187143-122770

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 6
-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21506-112644

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.3-04)
-URI http://asc.fasb.org/extlink&oid=27012166&loc=d3e187085-122770

Reference 9: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 30
-Section 50
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=6405834&loc=d3e23285-112656

Reference 10: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21475-112644

Reference 11: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Glossary Preferred Stock
-URI http://asc.fasb.org/extlink&oid=6521494

Reference 12: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21463-112644

Reference 13: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 11
-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21564-112644

Reference 14: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Staff Accounting Bulletin (SAB)
-Number Topic 4
-Section E

Reference 15: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Staff Accounting Bulletin (SAB)
-Number Topic 4
-Section C

Disposal Group Not Discontinued Operation Disposal Disclosures [Abstract]

Dispositions

6 Months Ended

Jun. 30, 2015

Dispositions


8.	Dispositions

On June 23, 2015, we sold the Park Ridge Marriott and the Chicago Marriott O’Hare for approximately $89 million. Additionally, on June 3, 2015, we sold the Sheraton Needham for approximately $54 million. The following table provides summary results of operations for the four hotels sold in 2015 and the five hotels sold in 2014, which are included in continuing operations (in millions):

	Quarter ended June 30,				Year-to-date ended June 30,
	2015		2014		2015		2014
Revenues	$	16	$	45	$	32	$	89
Income before taxes		2		7		—		10
Gain on disposals		53		—		56		111

The entire disclosure related to a disposal group. Includes, but is not limited to, a discontinued operation, disposal classified as held-for-sale or disposed of by means other than sale or disposal of an individually significant component.

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 45
-Paragraph 11
-URI http://asc.fasb.org/extlink&oid=51716988&loc=SL51721533-107759

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 50
-Paragraph 4B
-URI http://asc.fasb.org/extlink&oid=51717284&loc=SL51721665-107760

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 50
-Paragraph 5C
-URI http://asc.fasb.org/extlink&oid=51717284&loc=SL51721675-107760

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 360
-SubTopic 10
-Section 50
-Paragraph 3A
-URI http://asc.fasb.org/extlink&oid=51719941&loc=SL51724579-110230

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 50
-Paragraph 4A
-URI http://asc.fasb.org/extlink&oid=51717284&loc=SL51721663-107760

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 360
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=51719941&loc=d3e2941-110230

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=51717284&loc=d3e1361-107760

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 50
-Paragraph 5B
-URI http://asc.fasb.org/extlink&oid=51717284&loc=SL51721673-107760

Reference 9: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 50
-Paragraph 3A
-URI http://asc.fasb.org/extlink&oid=51717284&loc=SL51721659-107760

Reference 10: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 50
-Paragraph 5A
-URI http://asc.fasb.org/extlink&oid=51717284&loc=SL51721671-107760

Reference 11: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 50
-Paragraph 5D
-URI http://asc.fasb.org/extlink&oid=51717284&loc=SL51721677-107760

Reference 12: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=51717284&loc=d3e1474-107760

Reference 13: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 50
-Paragraph 7
-URI http://asc.fasb.org/extlink&oid=51717284&loc=SL51721683-107760

Acquisitions

6 Months Ended

Jun. 30, 2015

Business Combinations [Abstract]

Acquisitions


9.	Acquisitions

On June 8, 2015, we acquired The Phoenician, a 643-room Luxury Collection resort, in Scottsdale, Arizona for $400 million. In connection with the acquisition, we incurred $1 million of acquisition costs. Accounting for the acquisition requires an allocation of the purchase price to the assets acquired and the liabilities assumed at their respective estimated fair values. The purchase price allocations are estimated based on currently available information; however, we still are in the process of obtaining appraisals and finalizing the accounting for the acquisition. The following table summarizes the estimated fair value of the assets acquired and liabilities assumed related to this acquisition (in millions):

Property and equipment	$	400
Other assets		1
Total assets		401
Other liabilities		(1	)
Net assets acquired	$	400

Our summarized unaudited consolidated pro forma results of operations, assuming the acquisition completed during 2015 occurred on January 1, 2014, are as follows (in millions, except per share and per unit amounts):

	Quarter ended June 30,				Year-to-date ended June 30,
	2015		2014		2015		2014
Revenues	$	1,478	$	1,461	$	2,838	$	2,810
Income from continuing operations		226		163		345		361
Net income		226		163		345		361

Host Inc.:
Net income attributable to Host Inc.	$	222	$	159	$	335	$	351

Basic earnings per common share	$	.29	$	.21	$	.44	$	.46
Diluted earnings per common share	$	.29	$	.21	$	.44	$	.46

Host L.P.:
Net income attributable to Host L.P.	$	225	$	161	$	339	$	356

Basic earnings per common unit	$	.30	$	.21	$	.45	$	.48
Diluted earnings per common unit	$	.30	$	.21	$	.45	$	.48

The above pro forma results of operations exclude $1 million of acquisition costs for both the quarter and year-to-date periods ended June 30, 2015. The condensed consolidated statements of operations for both the quarter and year-to-date periods ended June 30, 2015 include approximately $5 million of revenues and $1 million of net loss for both the quarter and year-to-date periods ended June 30, 2015 related to our 2015 acquisition.

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

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 805
-SubTopic 10
-Section 50
-Paragraph 5
-URI http://asc.fasb.org/extlink&oid=56956515&loc=d3e1497-128463

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 805
-SubTopic 10
-Section 50
-Paragraph 4
-URI http://asc.fasb.org/extlink&oid=56956515&loc=d3e1490-128463

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 805
-SubTopic 10
-Section 50
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=56956515&loc=d3e1392-128463

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 805
-SubTopic 30
-Section 50
-Paragraph 4
-URI http://asc.fasb.org/extlink&oid=35744584&loc=d3e7008-128479

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 805
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=56956515&loc=d3e1486-128463

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 805
-SubTopic 30
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=35744584&loc=d3e6927-128479

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 805
-SubTopic 20
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=56956791&loc=d3e4845-128472

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 805
-SubTopic 10
-Section 50
-Paragraph 6
-URI http://asc.fasb.org/extlink&oid=56956515&loc=d3e1500-128463

Reference 9: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 805
-SubTopic 10
-Section 50
-Paragraph 7
-URI http://asc.fasb.org/extlink&oid=56956515&loc=d3e1524-128463

Reference 10: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 805
-SubTopic 30
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=35744584&loc=d3e7000-128479

Reference 11: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 805
-SubTopic 20
-Section 50
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=56956791&loc=d3e4922-128472

Reference 12: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 805
-SubTopic 20
-Section 50
-Paragraph 4
-URI http://asc.fasb.org/extlink&oid=56956791&loc=d3e4934-128472

Reference 13: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 805
-SubTopic 20
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=56956791&loc=d3e4926-128472

Reference 14: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 805
-SubTopic 10
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=56956515&loc=d3e1383-128463

Reference 15: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 805
-SubTopic 30
-Section 50
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=35744584&loc=d3e6996-128479

Fair Value Measurements

6 Months Ended

Jun. 30, 2015

Fair Value Disclosures [Abstract]

Fair Value Measurements


10.	Fair Value Measurements

The following tables detail 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, at June 30, 2015 and December 31, 2014, respectively (in millions):

	Fair Value at Measurement Date Using
	Balance at June 30, 2015			Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)			Significant Unobservable Inputs (Level 3)
Fair Value Measurements on a Recurring Basis:
Assets
Foreign currency forward sale contracts⁽¹⁾	$	24		$	—	$	24		$	—
Liabilities
Interest rate swap derivatives⁽¹⁾		(2	)		—		(2	)		—


	Fair Value at Measurement Date Using
	Balance at December 31, 2014			Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)			Significant Unobservable Inputs (Level 3)
Fair Value Measurements on a Recurring Basis:
Assets
Foreign currency forward sale contracts⁽¹⁾	$	13		$	—	$	13		$	—
Liabilities
Interest rate swap derivatives ⁽¹⁾		(2	)		—		(2	)		—

Fair Value Measurements on a Non-recurring Basis:
Impaired hotel properties sold⁽²⁾		—			—		—			18
___________

(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, 2014.

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 June 30, 2015.

During 2015, in contemplation of issuing the 4% Series E senior notes, we entered into three forward swaps and two treasury locks for total notional amounts of $150 million and $200 million, respectively. The purpose of the forward swaps and treasury locks was to hedge against changes in interest-related cash flows (forecast interest payments) on an issuance of long-term debt. The forward swaps hedged the risk of changes in the 3-month LIBOR rate over a 10-year period and the treasury locks hedged the risk of changes in the 10-year U.S. Treasury rate. Subsequent to the pricing date of the 4% Series E senior notes, we net settled the three forward swaps and two treasury locks for total proceeds of approximately $4 million. The gain on the forward swaps and treasury locks has been recorded to other comprehensive income and will be amortized over the 10-year life of the Series E senior notes, as a reduction to interest expense.

For the second quarter and year-to-date 2015, there was no material change in the fair value of our interest rate swap derivatives designated as cash flow hedges. The following table summarizes our outstanding contracts (in millions):

Total Notional

Maturity

Swapped

All-in-

Transaction Date

Amount

Date

Index

Rate

November 2011 ⁽¹⁾

November 2016

Reuters BBSY

6.7

February 2011⁽²⁾

NZ$

February 2016

NZ$ Bank Bill

7.15

___________

(1)	The swap was entered into in connection with the A$86 million ($66 million) mortgage loan on the Hilton Melbourne South Wharf.

(2)	The swap was entered into in connection with the NZ$105 million ($71 million) mortgage loan on seven properties in New Zealand.

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 Amount in		Total Transaction			Gain (Loss)					Gain (Loss)
Transaction Date	Foreign		Amount		Forward Purchase	Quarter ended June 30,					Year-to-date ended June 30,
Range	Currency		in Dollars		Date Range	2015			2014		2015		2014
July 2011-May 2014	€	100	$	135	August 2015-May 2017	$	(4	)	$	1	$	10	$	1
November 2014	C$	25	$	22	November 2016	$	—		$	—	$	1	$	—

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. Changes in fair value of the designated credit facility draws are recorded to other comprehensive income (loss).

The following table summarizes the draws on our credit facility that are designated as hedges of net investments in foreign operations (in millions):


		Balance		Balance			Gain (Loss)								Gain (Loss)
		Outstanding		Outstanding in			Quarter ended June 30,								Year-to-date ended June 30,
Currency		US$		Foreign Currency			2015				2014				2015			2014
Canadian dollars ⁽¹⁾	$		37	C$	46	$		(1	)	$		(1	)	$		1	$		—
Euros	$		86	€	77	$		(3	)	$		1		$		7	$		1
___________

(1)	We have drawn an additional $49 million on the credit facility in Canadian dollars, which draw has not been designated as a hedging instrument.

Other Liabilities

Fair Value of Other Financial Liabilities. We did not elect the fair value measurement option for any of our other financial 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 liabilities is shown below (in millions):

	June 30, 2015				December 31, 2014
	Carrying Amount		Fair Value		Carrying Amount		Fair Value
Financial liabilities
Senior notes (Level 1)	$	2,499	$	2,608	$	2,498	$	2,668
Exchangeable Senior Debentures (Level 1)		395		621		386		739
Credit facility (Level 2)		770		770		704		704
Mortgage debt and other, excluding capital leases (Level 2)		388		396		403		413

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.

Geographic Information

6 Months Ended

Jun. 30, 2015

Segment Reporting [Abstract]

Geographic Information


11.	Geographic Information

We consider each 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 office buildings and apartments) are immaterial and, with our operating segments, meet the aggregation criteria, and thus, we report one segment: hotel ownership. Our consolidated foreign operations consist of hotels in six countries. There were no intersegment sales during the periods presented.

The following table presents total revenues and property and equipment for each of the geographical areas in which we operate (in millions):

	Revenues				Revenues				Property and Equipment, net
	Quarter ended June 30,				Year-to-date ended June 30,				June 30,		December 31,
	2015		2014		2015		2014		2015		2014
United States	$	1,394	$	1,358	$	2,652	$	2,601	$	10,373	$	10,111
Australia		8		10		17		19		95		102
Brazil		8		12		15		19		69		82
Canada		15		24		29		44		66		82
Chile		6		8		13		16		42		44
Mexico		7		7		14		14		22		26
New Zealand		11		12		26		27		109		128
Total	$	1,449	$	1,431	$	2,766	$	2,740	$	10,776	$	10,575

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.

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 34
-URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8981-108599

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 41
-URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e9038-108599

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 33
-URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8971-108599

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 12
-URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8595-108599

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8380-108599

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8933-108599

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 26
-URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8844-108599

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 35
-URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8984-108599

Reference 9: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 40
-URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e9031-108599

Reference 10: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 42
-URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e9054-108599

Reference 11: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 10
-URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8538-108599

Reference 12: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 29
-URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8864-108599

Reference 13: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 31
-URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8924-108599

Reference 14: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 30
-URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8906-108599

Non-Controlling Interests

Non-Controlling Interests

6 Months Ended

Jun. 30, 2015

Noncontrolling Interest [Abstract]


12.	Non-controlling Interests

Other Consolidated Partnerships. We consolidate six majority-owned partnerships that have third-party, non-controlling ownership interests. The third-party partnership interests are included in non-controlling interests — other consolidated partnerships on the balance sheets and totaled $32 million for both June 30, 2015 and December 31, 2014. Two of the partnerships have finite lives that terminate between 2081 and 2095, and the associated non-controlling interests are mandatorily redeemable at our option at the end of, but not prior to, the finite life. At June 30, 2015 and December 31, 2014, the fair values of the non-controlling interests in the partnerships with finite lives were approximately $94 million and $85 million, respectively.

Net income attributable to non-controlling interests of consolidated partnerships is included in our determination of net income. Net income attributable to non-controlling interests of third parties was $1 million and $2 million for the quarters ended June 30, 2015 and 2014, respectively, and $6 million and $5 million for the year-to-date periods ended June 30, 2015 and 2014, 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 accumulated historical cost or its redemption value. The historical cost is based on the proportional relationship between the historical cost of equity held by our common stockholders relative to that of the unitholders of Host L.P. The redemption value is based on the amount of cash or Host Inc. common stock, at our option, that would be paid to the non-controlling interests of Host L.P. if it were terminated. Therefore, the redemption value of the common OP units is equivalent to the number of shares that would be issued upon conversion of the common OP units held by third parties valued at the market price of Host Inc. common stock at the balance sheet date. One common OP unit may be exchanged into 1.021494 shares of Host Inc. common stock. Non-controlling interests of Host L.P. are classified in the mezzanine section of our balance sheets as they do not meet the requirements for equity classification because the redemption feature requires the delivery of registered shares.

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

	June 30, 2015		December 31, 2014
OP units outstanding (millions)		9.2		9.3
Market price per Host Inc. common share	$	19.83	$	23.77
Shares issuable upon conversion of one OP unit		1.021494		1.021494
Redemption value (millions)	$	186	$	225
Historical cost (millions)		92		94
Book value (millions) ⁽¹⁾		186		225
___________

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

Net income is allocated to the non-controlling interests of Host L.P. based on their weighted average ownership interest during the period. Net income attributable to the non-controlling interests of Host L.P. for the quarter and year-to- date periods ended June 30, 2015 was $3 million and $4 million, respectively. The income attributable to the non-controlling interests of Host L.P. for the quarter and year-to-date periods ended June 30, 2014 was $2 million and $5 million, respectively.

Legal Proceedings

6 Months Ended

Jun. 30, 2015

Commitments And Contingencies Disclosure [Abstract]

Legal Proceedings


13.	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 legal proceedings 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 currently are involved or of which we are aware and our experience in resolving similar claims in the past, we have accrued approximately $4 million as of June 30, 2015 for liabilities related to legal proceedings and estimate that, in the aggregate, our losses related to these proceedings will not exceed $10 million. We believe this range represents the maximum potential loss for all of our legal proceedings. 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.

Summary of Significant Accounting Policies (Policies)	6 Months Ended
Summary of Significant Accounting Policies (Policies)	Jun. 30, 2015
Accounting Policies [Abstract]
New Accounting Standards	New Accounting Standards In April 2015, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) No. 2015-03, Interest—Imputation of Interest (Subtopic 835-30): Simplifying the Presentation of Debt Issuance Costs. The new standard requires that debt issuance costs related to a recognized debt liability be presented in the balance sheet as a direct deduction from the carrying amount of that debt liability, consistent with debt discounts. The standard is effective for annual reporting periods beginning after December 15, 2015. Upon adoption of the standard we will reclassify deferred financing costs, net, from total assets to net of debt in the liabilities section of our balance sheet. Adoption of this standard will affect only the presentation of our balance sheet. In February 2015, the FASB issued ASU 2015-02, Amendments to the Consolidation Analysis. The ASU amends the consolidation guidance for variable interest entities (VIEs) and general partners' investments in limited partnerships and modifies the evaluation of whether limited partnerships and similar legal entities are VIEs or voting interest entities. The ASU is effective for interim and annual reporting periods beginning after December 15, 2015, with early adoption permitted. We currently are evaluating the effect of the ASU on our consolidated financial statements and related disclosures. In May 2014, the FASB issued ASU No. 2014-09, Revenue from Contracts with Customers (Topic 606), which affects virtually all aspects of an entity’s revenue recognition. The core principle of the new standard is that revenue should be recognized to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. The standard is effective for annual reporting periods beginning after December 15, 2017. We have not yet completed our assessment of the effect of the new standard on our financial statements, including possible transition alternatives.

The entire disclosure of changes in accounting principles, including adoption of new accounting pronouncements, that describes the new methods, amount and effects on financial statement line items.

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Glossary Change in Accounting Principle
-URI http://asc.fasb.org/extlink&oid=6507316

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Glossary Direct Effects of a Change in Accounting Principle
-URI http://asc.fasb.org/extlink&oid=6510796

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=56949863&loc=d3e22583-107794

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Glossary Indirect Effects of a Change in Accounting Principle
-URI http://asc.fasb.org/extlink&oid=6515603

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=56949863&loc=d3e22580-107794

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 270
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.10-01.(b)(6))
-URI http://asc.fasb.org/extlink&oid=27015980&loc=d3e46468-122699

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Glossary Accounting Change
-URI http://asc.fasb.org/extlink&oid=6503790

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=56949863&loc=d3e22499-107794

Reference 9: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Glossary Retrospective Application
-URI http://asc.fasb.org/extlink&oid=6523989

Reference 10: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 270
-SubTopic 10
-Section 45
-Paragraph 13
-URI http://asc.fasb.org/extlink&oid=51655806&loc=d3e765-108305

Reference 11: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 270
-SubTopic 10
-Section 45
-Paragraph 12
-URI http://asc.fasb.org/extlink&oid=51655806&loc=d3e725-108305

Consolidated Portfolio of Hotels by Location

Organization (Tables)

6 Months Ended

Jun. 30, 2015

As of June 30, 2015, our consolidated portfolio, primarily consisting of luxury and upper upscale hotels, is located in the following countries:

	Hotels
United States		95
Australia		1
Brazil		3
Canada		2
Chile		2
Mexico		1
New Zealand		7
Total		111

European Joint Venture

Consolidated Portfolio of Hotels by Location

As of June 30, 2015, the Euro JV owned hotels located in the following countries:

	Hotels
Belgium		3
France		4
Germany		2
Italy		3
Poland		1
Spain		2
Sweden		1
The Netherlands		1
United Kingdom		1
Total		18

Earnings Per Common Share (Unit) (Tables)

6 Months Ended

Jun. 30, 2015

Earnings Per Common Share (Unit)

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

	Quarter ended June 30,						Year-to-date ended June 30,
	2015			2014			2015			2014
Net income	$	216		$	159		$	320		$	344
Less: Net income attributable to non-controlling interests		(4	)		(4	)		(10	)		(10	)
Net income attributable to Host Inc.		212			155			310			334
Assuming conversion of exchangeable senior debentures		7			—			—			—
Diluted income attributable to Host Inc.	$	219		$	155		$	310		$	334

Basic weighted average shares outstanding		753.9			755.4			755.0			755.1
Assuming weighted average shares for conversion of exchangeable senior debentures		31.2			—			—			—
Assuming distribution of common shares granted under the comprehensive stock plans, less shares assumed purchased at market		0.4			0.5			0.4			0.5
Diluted weighted average shares outstanding ⁽¹⁾		785.5			755.9			755.4			755.6

Basic earnings per common share	$	.28		$	.21		$	.41		$	.44
Diluted earnings per common share	$	.28		$	.21		$	.41		$	.44
___________

(1)

Earnings Per Common Share (Unit)

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

	Quarter ended June 30,						Year-to-date ended June 30,
	2015			2014			2015			2014
Net income	$	216		$	159		$	320		$	344
Less: Net income attributable to non-controlling interests		(1	)		(2	)		(6	)		(5	)
Net income attributable to Host L.P.		215			157			314			339
Assuming conversion of exchangeable senior debentures		7			—			—			—
Diluted income attributable to Host L.P.	$	222		$	157		$	314		$	339

Basic weighted average units outstanding		747.3			748.9			748.3			748.7
Assuming weighted average units for conversion of exchangeable senior debentures		30.5			—			—			—
Assuming distribution of common units granted under the comprehensive stock plans, less units assumed purchased at market		0.3			0.6			0.4			0.5
Diluted weighted average units outstanding⁽¹⁾		778.1			749.5			748.7			749.2

Basic earnings per common unit	$	.29		$	.21		$	.42		$	.45
Diluted earnings per common unit	$	.29		$	.21		$	.42		$	.45
___________

(1)

Property and Equipment (Tables)

6 Months Ended

Jun. 30, 2015

Property Plant And Equipment [Abstract]

Property and Equipment

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

	June 30, 2015			December 31, 2014
Land and land improvements	$	2,047		$	1,990
Buildings and leasehold improvements		13,665			13,336
Furniture and equipment		2,281			2,217
Construction in progress		165			209
		18,158			17,752
Less accumulated depreciation and amortization		(7,382	)		(7,177	)
	$	10,776		$	10,575

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

6 Months Ended

Jun. 30, 2015

Equity [Abstract]

Equity Allocation between Controlling and Non-Controlling Interests

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

	Equity of Host Inc.			Non-redeemable, non-controlling interests			Total equity			Redeemable, non-controlling interests
Balance, December 31, 2014	$	7,336		$	32		$	7,368		$	225
Net income		310			6			316			4
Issuance of common stock		12			—			12			—
Repurchase of common stock		(131	)		—			(131	)		—
Dividends declared on common stock		(301	)		—			(301	)		—
Distributions to non-controlling interests		—			(5	)		(5	)		(4	)
Other changes in ownership		38			(1	)		37			(39	)
Other comprehensive loss		(34	)		—			(34	)		—
Balance, June 30, 2015	$	7,230		$	32		$	7,262		$	186

Capital Allocation between Controlling and Non-Controlling Interests

Capital of Host L.P. is allocated between controlling and non-controlling interests as follows (in millions):

										Limited
				Non-						Partnership
	Capital of			controlling			Total			Interests of
	Host L.P.			Interests			Capital			Third Parties
Balance, December 31, 2014	$	7,336		$	32		$	7,368		$	225
Net income		310			6			316			4
Issuance of common OP units		12			—			12			—
Repurchase of common OP units		(131	)		—			(131	)		—
Distributions declared on common OP units		(301	)		—			(301	)		(4	)
Distributions to non-controlling interests		—			(5	)		(5	)		—
Other changes in ownership		38			(1	)		37			(39	)
Other comprehensive loss		(34	)		—			(34	)		—
Balance, June 30, 2015	$	7,230		$	32		$	7,262		$	186

Dispositions (Tables)

6 Months Ended

Jun. 30, 2015

Discontinued Operations And Disposal Groups [Abstract]

Summary of Results of Operations for Hotels Sold Included in Continuing Operations

The following table provides summary results of operations for the four hotels sold in 2015 and the five hotels sold in 2014, which are included in continuing operations (in millions):

	Quarter ended June 30,				Year-to-date ended June 30,
	2015		2014		2015		2014
Revenues	$	16	$	45	$	32	$	89
Income before taxes		2		7		—		10
Gain on disposals		53		—		56		111

Tabular disclosure of information related to a disposal group. Includes, but is not limited to, a discontinued operation, disposal classified as held-for-sale or disposed of by means other than sale or disposal of an individually significant component.

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 45
-Paragraph 11
-URI http://asc.fasb.org/extlink&oid=51716988&loc=SL51721533-107759

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 50
-Paragraph 4B
-URI http://asc.fasb.org/extlink&oid=51717284&loc=SL51721665-107760

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=51717284&loc=d3e1474-107760

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=51717284&loc=d3e1361-107760

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 50
-Paragraph 7
-URI http://asc.fasb.org/extlink&oid=51717284&loc=SL51721683-107760

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 360
-SubTopic 10
-Section 50
-Paragraph 3A
-URI http://asc.fasb.org/extlink&oid=51719941&loc=SL51724579-110230

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 50
-Paragraph 5C
-URI http://asc.fasb.org/extlink&oid=51717284&loc=SL51721675-107760

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 50
-Paragraph 4A
-URI http://asc.fasb.org/extlink&oid=51717284&loc=SL51721663-107760

Reference 9: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 360
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=51719941&loc=d3e2941-110230

Reference 10: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 50
-Paragraph 5B
-URI http://asc.fasb.org/extlink&oid=51717284&loc=SL51721673-107760

Reference 11: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 50
-Paragraph 3A
-URI http://asc.fasb.org/extlink&oid=51717284&loc=SL51721659-107760

Reference 12: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 50
-Paragraph 5A
-URI http://asc.fasb.org/extlink&oid=51717284&loc=SL51721671-107760

Reference 13: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 50
-Paragraph 5D
-URI http://asc.fasb.org/extlink&oid=51717284&loc=SL51721677-107760

Estimated Fair Value of Assets Acquired and Liabilities Assumed in Acquisitions

Acquisitions (Tables)

6 Months Ended

Jun. 30, 2015

Business Combinations [Abstract]

The following table summarizes the estimated fair value of the assets acquired and liabilities assumed related to this acquisition (in millions):

Property and equipment	$	400
Other assets		1
Total assets		401
Other liabilities		(1	)
Net assets acquired	$	400

Summary of Unaudited Consolidated Pro Forma Results of Operations

	Quarter ended June 30,				Year-to-date ended June 30,
	2015		2014		2015		2014
Revenues	$	1,478	$	1,461	$	2,838	$	2,810
Income from continuing operations		226		163		345		361
Net income		226		163		345		361

Host Inc.:
Net income attributable to Host Inc.	$	222	$	159	$	335	$	351

Basic earnings per common share	$	.29	$	.21	$	.44	$	.46
Diluted earnings per common share	$	.29	$	.21	$	.44	$	.46

Host L.P.:
Net income attributable to Host L.P.	$	225	$	161	$	339	$	356

Basic earnings per common unit	$	.30	$	.21	$	.45	$	.48
Diluted earnings per common unit	$	.30	$	.21	$	.45	$	.48

Fair Value Measurements (Tables)

6 Months Ended

Jun. 30, 2015

Fair Value Disclosures [Abstract]

Fair Value of Financial Assets and Liabilities

	Fair Value at Measurement Date Using
	Balance at June 30, 2015			Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)			Significant Unobservable Inputs (Level 3)
Fair Value Measurements on a Recurring Basis:
Assets
Foreign currency forward sale contracts⁽¹⁾	$	24		$	—	$	24		$	—
Liabilities
Interest rate swap derivatives⁽¹⁾		(2	)		—		(2	)		—


	Fair Value at Measurement Date Using
	Balance at December 31, 2014			Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)			Significant Unobservable Inputs (Level 3)
Fair Value Measurements on a Recurring Basis:
Assets
Foreign currency forward sale contracts⁽¹⁾	$	13		$	—	$	13		$	—
Liabilities
Interest rate swap derivatives ⁽¹⁾		(2	)		—		(2	)		—

Fair Value Measurements on a Non-recurring Basis:
Impaired hotel properties sold⁽²⁾		—			—		—			18
___________

(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, 2014.

Interest Rate Swap Derivatives Designated as Cash Flow Hedges

Total Notional

Maturity

Swapped

All-in-

Transaction Date

Amount

Date

Index

Rate

November 2011 ⁽¹⁾

November 2016

Reuters BBSY

6.7

February 2011⁽²⁾

NZ$

February 2016

NZ$ Bank Bill

7.15

___________

(1)	The swap was entered into in connection with the A$86 million ($66 million) mortgage loan on the Hilton Melbourne South Wharf.

(2)	The swap was entered into in connection with the NZ$105 million ($71 million) mortgage loan on seven properties in New Zealand.

Foreign Currency Sale Contracts

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

Currently Outstanding						Change in Fair Value - All Contracts
	Total
	Transaction Amount in		Total Transaction			Gain (Loss)					Gain (Loss)
Transaction Date	Foreign		Amount		Forward Purchase	Quarter ended June 30,					Year-to-date ended June 30,
Range	Currency		in Dollars		Date Range	2015			2014		2015		2014
July 2011-May 2014	€	100	$	135	August 2015-May 2017	$	(4	)	$	1	$	10	$	1
November 2014	C$	25	$	22	November 2016	$	—		$	—	$	1	$	—

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

The following table summarizes the draws on our credit facility that are designated as hedges of net investments in foreign operations (in millions):


		Balance		Balance			Gain (Loss)								Gain (Loss)
		Outstanding		Outstanding in			Quarter ended June 30,								Year-to-date ended June 30,
Currency		US$		Foreign Currency			2015				2014				2015			2014
Canadian dollars ⁽¹⁾	$		37	C$	46	$		(1	)	$		(1	)	$		1	$		—
Euros	$		86	€	77	$		(3	)	$		1		$		7	$		1
___________

(1)	We have drawn an additional $49 million on the credit facility in Canadian dollars, which draw has not been designated as a hedging instrument.

Fair Values of Certain Financial Liabilities and Other Financial Instruments

The fair value of certain financial liabilities is shown below (in millions):

	June 30, 2015				December 31, 2014
	Carrying Amount		Fair Value		Carrying Amount		Fair Value
Financial liabilities
Senior notes (Level 1)	$	2,499	$	2,608	$	2,498	$	2,668
Exchangeable Senior Debentures (Level 1)		395		621		386		739
Credit facility (Level 2)		770		770		704		704
Mortgage debt and other, excluding capital leases (Level 2)		388		396		403		413

Geographic Information (Tables)

6 Months Ended

Jun. 30, 2015

Segment Reporting [Abstract]

Revenues and Long-Lived Assets by Geographical Area

The following table presents total revenues and property and equipment for each of the geographical areas in which we operate (in millions):

	Revenues				Revenues				Property and Equipment, net
	Quarter ended June 30,				Year-to-date ended June 30,				June 30,		December 31,
	2015		2014		2015		2014		2015		2014
United States	$	1,394	$	1,358	$	2,652	$	2,601	$	10,373	$	10,111
Australia		8		10		17		19		95		102
Brazil		8		12		15		19		69		82
Canada		15		24		29		44		66		82
Chile		6		8		13		16		42		44
Mexico		7		7		14		14		22		26
New Zealand		11		12		26		27		109		128
Total	$	1,449	$	1,431	$	2,766	$	2,740	$	10,776	$	10,575

Non-controlling Interests (Tables)

6 Months Ended

Jun. 30, 2015

Noncontrolling Interest [Abstract]

Historical Cost and Redemption Values for Non-Controlling Interests

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

	June 30, 2015		December 31, 2014
OP units outstanding (millions)		9.2		9.3
Market price per Host Inc. common share	$	19.83	$	23.77
Shares issuable upon conversion of one OP unit		1.021494		1.021494
Redemption value (millions)	$	186	$	225
Historical cost (millions)		92		94
Book value (millions) ⁽¹⁾		186		225
___________

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

Organization - Additional Information (Detail)	Jun. 30, 2015 Hotel Fund
Organization Consolidation And Presentation Of Financial Statements Disclosure [Line Items]
Number of hotels	111
Australia
Organization Consolidation And Presentation Of Financial Statements Disclosure [Line Items]
Number of hotels	1
European Joint Venture
Organization Consolidation And Presentation Of Financial Statements Disclosure [Line Items]
Number of hotels	18
Number of funds \| Fund	2
European Joint Venture \| Fund I
Organization Consolidation And Presentation Of Financial Statements Disclosure [Line Items]
Investment ownership percentage	32.10%
Number of hotels	9
European Joint Venture \| Fund II
Organization Consolidation And Presentation Of Financial Statements Disclosure [Line Items]
Investment ownership percentage	33.40%
Number of hotels	9
Asia/Pacific Joint Venture
Organization Consolidation And Presentation Of Financial Statements Disclosure [Line Items]
Investment ownership percentage	25.00%
Asia/Pacific Joint Venture \| Australia
Organization Consolidation And Presentation Of Financial Statements Disclosure [Line Items]
Number of hotels	1
Asia/Pacific Joint Venture \| India
Organization Consolidation And Presentation Of Financial Statements Disclosure [Line Items]
Number of hotels	3
Number of hotels in various stages of development	4
HOST HOTELS & RESORTS, INC.
Organization Consolidation And Presentation Of Financial Statements Disclosure [Line Items]
Percentage of the common OP Units	99.00%

Consolidated Portfolio of Hotels by Location (Detail)	Jun. 30, 2015 Hotel
Segment Reporting Other Significant Reconciling Item [Line Items]
Hotels	111
European Joint Venture
Segment Reporting Other Significant Reconciling Item [Line Items]
Hotels	18
United States
Segment Reporting Other Significant Reconciling Item [Line Items]
Hotels	95
Australia
Segment Reporting Other Significant Reconciling Item [Line Items]
Hotels	1
Brazil
Segment Reporting Other Significant Reconciling Item [Line Items]
Hotels	3
Canada
Segment Reporting Other Significant Reconciling Item [Line Items]
Hotels	2
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	2
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	1
United Kingdom \| European Joint Venture
Segment Reporting Other Significant Reconciling Item [Line Items]
Hotels	1

Earnings Per Common Share (Unit) - Additional Information (Detail) - HOST HOTELS & RESORTS, INC. shares in Millions	6 Months Ended
	Jun. 30, 2015 shares
Shares Subject To Mandatory Redemption By Settlement Terms [Line Items]
OP units outstanding	9.2
Number of common shares that would be outstanding if OP units were converted	9.4

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

3 Months Ended

6 Months Ended

Jun. 30, 2015

Jun. 30, 2014

Jun. 30, 2015

Jun. 30, 2014

Earnings Per Share [Abstract]

NET INCOME

$ 216

$ 159

$ 320

$ 344

Less: Net income attributable to non-controlling interests

(4)

(10)

NET INCOME ATTRIBUTABLE TO REPORTING ENTITY

212

155

310

334

Assuming conversion of exchangeable senior debentures

Diluted income attributable to Host Inc.

$ 219

$ 155

$ 310

$ 334

Basic weighted average shares outstanding

753.9

755.4

755.0

755.1

Assuming weighted average shares for conversion of exchangeable senior debentures

31.2

Assuming distribution of common shares granted under the comprehensive stock plans, less shares assumed purchased at market

0.4

0.5

0.4

0.5

Diluted weighted average shares outstanding

^[1]

785.5

755.9

755.4

755.6

Basic earnings per common share

$ 0.28

$ 0.21

$ 0.41

$ 0.44

Diluted earnings per common share

$ 0.28

$ 0.21

$ 0.41

$ 0.44

[1]

Host Inc. Earnings (Loss) Per Common Share (Parenthetical) (Detail) - shares shares in Millions	3 Months Ended	6 Months Ended
	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Earnings Per Share [Abstract]
Anti-dilutive shares which were not included in the computation of diluted EPS	30	31	30

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

3 Months Ended

6 Months Ended

Jun. 30, 2015

Jun. 30, 2014

Jun. 30, 2015

Jun. 30, 2014

Earnings Per Share Diluted [Line Items]

NET INCOME

$ 216

$ 159

$ 320

$ 344

Less: Net income attributable to non-controlling interests

(4)

(10)

NET INCOME ATTRIBUTABLE TO REPORTING ENTITY

212

155

310

334

Diluted income attributable to Host Inc.

$ 219

$ 155

$ 310

$ 334

Basic weighted average shares outstanding

753.9

755.4

755.0

755.1

Assuming weighted average shares for conversion of exchangeable senior debentures

31.2

Assuming distribution of common shares granted under the comprehensive stock plans, less shares assumed purchased at market

0.4

0.5

0.4

0.5

Diluted weighted average shares outstanding

^[1]

785.5

755.9

755.4

755.6

Basic earnings per common share

$ 0.28

$ 0.21

$ 0.41

$ 0.44

Diluted earnings per common share

$ 0.28

$ 0.21

$ 0.41

$ 0.44

Earnings Per Share Diluted [Line Items]

NET INCOME

$ 216

$ 159

$ 320

$ 344

Less: Net income attributable to non-controlling interests

(1)

(2)

(6)

(5)

NET INCOME ATTRIBUTABLE TO REPORTING ENTITY

215

157

314

339

Assuming conversion of exchangeable senior debentures

Diluted income attributable to Host Inc.

$ 222

$ 157

$ 314

$ 339

Basic weighted average shares outstanding

747.3

748.9

748.3

748.7

Assuming weighted average shares for conversion of exchangeable senior debentures

30.5

Assuming distribution of common shares granted under the comprehensive stock plans, less shares assumed purchased at market

0.3

0.6

0.4

0.5

Diluted weighted average shares outstanding

^[2]

778.1

749.5

748.7

749.2

Basic earnings per common share

$ 0.29

$ 0.21

$ 0.42

$ 0.45

Diluted earnings per common share

$ 0.29

$ 0.21

$ 0.42

$ 0.45

[1]

[2]

Host LP Earnings (Loss) Per Common Unit (Parenthetical) (Detail) - shares shares in Millions	3 Months Ended	6 Months Ended
	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Anti-dilutive shares which were not included in the computation of diluted EPS	30	31	30
HOST HOTELS & RESORTS L.P.
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Anti-dilutive shares which were not included in the computation of diluted EPS	30	30	29

Summary of Property and Equipment (Detail) - USD ($) $ in Millions	Jun. 30, 2015	Dec. 31, 2014
Property Plant And Equipment [Abstract]
Land and land improvements	$ 2,047	$ 1,990
Buildings and leasehold improvements	13,665	13,336
Furniture and equipment	2,281	2,217
Construction in progress	165	209
Property, Plant and Equipment, Gross, Total	18,158	17,752
Less accumulated depreciation and amortization	(7,382)	(7,177)
Property and equipment, net	$ 10,776	$ 10,575

Debt - Additional Information (Detail) - USD ($) $ in Millions			3 Months Ended	6 Months Ended
	Jun. 15, 2015	May 15, 2015	Jun. 30, 2015	Jun. 30, 2015
Debt Instrument [Line Items]
Net borrowings under revolver portion of credit facility				$ 250
Revolving Credit Facility
Debt Instrument [Line Items]
Net borrowings under revolver portion of credit facility			$ 80
Amount of borrowing capacity currently available under the credit facility			$ 730	$ 730
Series E senior notes 4% due June 2025
Debt Instrument [Line Items]
Face amount of debt		$ 500
Debt interest rate		4.00%	4.00%	4.00%
Proceed from issuance of note		$ 495
Effective interest rate with hedge		3.93%
Series X senior notes 5.875% due 2019
Debt Instrument [Line Items]
Debt interest rate	5.875%
Repayment of debt	$ 500
Redemption price of senior notes	$ 515

Investment in Affiliates - Additional Information (Detail) € in Millions, $ in Millions					1 Months Ended	6 Months Ended
	Jul. 08, 2015 USD ($)	Jul. 08, 2015 EUR (€)	Jun. 05, 2015 USD ($)	Jun. 05, 2015 EUR (€)	Jul. 31, 2015	Jun. 30, 2015 USD ($)	Jun. 30, 2014 USD ($)
Investments In And Advances To Affiliates [Line Items]
Proceeds from sales of assets, net						$ 174	$ 274
Mortgage repayment							$ 373
Distributions from equity investments						$ 7
European Joint Venture \| Crowne Plaza Hotel Amsterdam City Centre
Investments In And Advances To Affiliates [Line Items]
Proceeds from sales of assets, net			$ 118	€ 106
Gain on sale of asset			40	36
Mortgage repayment			49	44
Fund II \| European Joint Venture \| Subsequent Event
Investments In And Advances To Affiliates [Line Items]
Capital commitment extension period					one year
European Joint Venture \| Fund I \| Subsequent Event
Investments In And Advances To Affiliates [Line Items]
Distributions from equity investments	$ 21	€ 19
FF&E reserve \| European Joint Venture \| Crowne Plaza Hotel Amsterdam City Centre
Investments In And Advances To Affiliates [Line Items]
Proceeds from sales of assets, net			$ 3	€ 3

Equity Allocation between Controlling and Non-Controlling Interests (Detail) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Stockholders Equity Note [Line Items]
Beginning Balance			$ 7,368
NET INCOME ATTRIBUTABLE TO REPORTING ENTITY	$ 212	$ 155	310	$ 334
Net income attributable to non-controlling interests	1	2	6	5
Net income	3	2	4	5
Other comprehensive loss	3	$ 5	(34)	$ 12
Ending Balance	7,262		7,262
HOST HOTELS & RESORTS, INC.
Stockholders Equity Note [Line Items]
Beginning Balance			7,368
Net income			316
Issuance of common stock			12
Repurchase of common stock /OP units			(131)
Dividends declared on common stock			(301)
Distributions to non-controlling interests			(5)
Other changes in ownership			37
Other comprehensive loss			(34)
Ending Balance	7,262		7,262
HOST HOTELS & RESORTS, INC. \| Parent
Stockholders Equity Note [Line Items]
Beginning Balance			7,336
NET INCOME ATTRIBUTABLE TO REPORTING ENTITY			310
Issuance of common stock			12
Repurchase of common stock /OP units			(131)
Dividends declared on common stock			(301)
Other changes in ownership			38
Other comprehensive loss			(34)
Ending Balance	7,230		7,230
HOST HOTELS & RESORTS, INC. \| Non-redeemable, non-controlling interest
Stockholders Equity Note [Line Items]
Beginning Balance			32
Net income attributable to non-controlling interests			6
Distributions to non-controlling interests			(5)
Other changes in ownership			(1)
Ending Balance	32		32
HOST HOTELS & RESORTS, INC. \| Redeemable non-controlling interests
Stockholders Equity Note [Line Items]
Beginning Balance			225
Net income			4
Distributions to non-controlling interests			(4)
Other changes in ownership			(39)
Ending Balance	$ 186		$ 186

Equity of Host Inc. and Capital of Host L.P. - Additional Information (Detail) $ / shares in Units, shares in Thousands		6 Months Ended
	Jun. 11, 2015 $ / shares	Jun. 30, 2015 USD ($) $ / shares shares	Dec. 31, 2014
HOST HOTELS & RESORTS, INC.
Stockholders Equity Note [Line Items]
Percentage of the common OP Units		99.00%
Dividend declaration date		Jun. 11, 2015
Dividend per share, declared \| $ / shares	$ 0.20
Dividend payable date		Jul. 15, 2015
Dividend record date		Jun. 30, 2015
Common stock repurchase, shares \| shares		6,550
Common stock repurchase, average price per share \| $ / shares		$ 20.07
Common stock repurchase, value \| $		$ 131,000,000
Remaining capacity of stock repurchase \| $		369,000,000
HOST HOTELS & RESORTS, INC. \| Maximum
Stockholders Equity Note [Line Items]
Common stock repurchase, authorized amount \| $		$ 500,000,000
HOST HOTELS & RESORTS L.P.
Stockholders Equity Note [Line Items]
Shares issuable upon conversion of one OP unit		1.021494	1.021494
Common OP units, distribution paid \| $ / shares		$ 0.2042988

Capital Allocation between Controlling and Non-Controlling Interests (Detail) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Limited Partners Capital Account [Line Items]
Beginning Balance			$ 7,368
NET INCOME ATTRIBUTABLE TO REPORTING ENTITY	$ 212	$ 155	310	$ 334
Net income attributable to non-controlling interests	1	2	6	5
Net income	3	2	4	5
Other comprehensive loss	3	5	(34)	12
Ending Balance	7,262		7,262
HOST HOTELS & RESORTS L.P.
Limited Partners Capital Account [Line Items]
Beginning Balance			7,368
NET INCOME ATTRIBUTABLE TO REPORTING ENTITY	215	157	314	339
Net income			316
Issuance of common OP units			12
Repurchase of common stock /OP units			(131)
Distributions declared on common OP units			(301)
Distributions to non-controlling interests			(5)
Other changes in ownership			37
Other comprehensive loss	3	$ 5	(34)	$ 12
Ending Balance	7,262		7,262
HOST HOTELS & RESORTS L.P. \| Parent
Limited Partners Capital Account [Line Items]
Beginning Balance			7,336
NET INCOME ATTRIBUTABLE TO REPORTING ENTITY			310
Issuance of common OP units			12
Repurchase of common stock /OP units			(131)
Distributions declared on common OP units			(301)
Other changes in ownership			38
Other comprehensive loss			(34)
Ending Balance	7,230		7,230
HOST HOTELS & RESORTS L.P. \| Non-controlling Interests
Limited Partners Capital Account [Line Items]
Beginning Balance			32
Net income attributable to non-controlling interests			6
Distributions to non-controlling interests			(5)
Other changes in ownership			(1)
Ending Balance	32		32
HOST HOTELS & RESORTS L.P. \| Limited Partnership Interests Of Third Parties
Limited Partners Capital Account [Line Items]
Beginning Balance			225
Net income			4
Distributions declared on common OP units			(4)
Other changes in ownership			(39)
Ending Balance	$ 186		$ 186

Dispositions - Additional Information (Detail) $ in Millions			6 Months Ended		12 Months Ended
	Jun. 23, 2015 USD ($)	Jun. 03, 2015 USD ($)	Jun. 30, 2015 USD ($) Hotel	Jun. 30, 2014 USD ($)	Dec. 31, 2014 Hotel
Income Statement Balance Sheet And Additional Disclosures By Disposal Groups Including Discontinued Operations [Line Items]
Proceeds from sales of assets, net			$ 174	$ 274
Number of properties sold \| Hotel			4		5
Park Ridge Marriott & Chicago Marriott O’Hare
Income Statement Balance Sheet And Additional Disclosures By Disposal Groups Including Discontinued Operations [Line Items]
Proceeds from sales of assets, net	$ 89
Sheraton Needham
Income Statement Balance Sheet And Additional Disclosures By Disposal Groups Including Discontinued Operations [Line Items]
Proceeds from sales of assets, net		$ 54

Summary of Results of Operations for One Hotel Sold in Twenty Fifteen and Five Hotels Sold in Twenty Fourteen which are Included in Continuing Operations (Detail) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Disposal Group Not Discontinued Operation Disposal Disclosures [Abstract]
Revenues	$ 16	$ 45	$ 32	$ 89
Income before taxes	2	$ 7		10
Gain on disposals	$ 53		$ 56	$ 111

Acquisitions - Additional Information (Detail) $ in Millions		3 Months Ended	6 Months Ended
	Jun. 08, 2015 USD ($) Room	Jun. 30, 2015 USD ($)	Jun. 30, 2015 USD ($)
Business Acquisition [Line Items]
Acquisition-related expenses		$ 1	$ 1
Pro forma, total revenues		5	5
Pro forma, net loss		$ (1)	$ (1)
The Phoenician
Business Acquisition [Line Items]
Number of rooms \| Room	643
Acquisition purchase price	$ 400
Acquisition-related expenses	$ 1

Estimated Fair Value of Assets Acquired and Liabilities Assumed in Acquisitions (Detail) $ in Millions	Jun. 30, 2015 USD ($)
Business Combinations [Abstract]
Property and equipment	$ 400
Other assets	1
Total assets	401
Other liabilities	(1)
Net assets acquired	$ 400

Summary of Unaudited Consolidated Pro Forma Results of Operations (Detail) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Business Acquisition, Pro Forma Information [Abstract]
Revenues	$ 1,478	$ 1,461	$ 2,838	$ 2,810
Income from continuing operations	226	163	345	361
Net income	226	163	345	361
HOST HOTELS & RESORTS, INC.
Business Acquisition, Pro Forma Information [Abstract]
Net income attributable to Host Inc.	$ 222	$ 159	$ 335	$ 351
Basic earnings per common share	$ 0.29	$ 0.21	$ 0.44	$ 0.46
Diluted earnings per common share	$ 0.29	$ 0.21	$ 0.44	$ 0.46
HOST HOTELS & RESORTS L.P.
Business Acquisition, Pro Forma Information [Abstract]
Net income attributable to Host Inc.	$ 225	$ 161	$ 339	$ 356
Basic earnings per common share	$ 0.30	$ 0.21	$ 0.45	$ 0.48
Diluted earnings per common share	$ 0.30	$ 0.21	$ 0.45	$ 0.48

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

Jun. 30, 2015

Dec. 31, 2014

Foreign currency forward sale contracts

Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]

Fair value measurements on a recurring basis, Assets

^[1]

$ 24

$ 13

Interest rate swap derivatives

Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]

Fair value measurements on a recurring basis, Liabilities

^[1]

(2)

Significant Other Observable Inputs (Level 2) | Foreign currency forward sale contracts

Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]

Fair value measurements on a recurring basis, Assets

^[1]

Significant Other Observable Inputs (Level 2) | Interest rate swap derivatives

Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]

Fair value measurements on a recurring basis, Liabilities

^[1]

$ (2)

(2)

Significant Unobservable Inputs (Level 3) | Impaired Hotel Properties Held And Used

Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]

Fair value measurements on a non-recurring basis, Impaired hotel properties held and used

^[2]

$ 18

[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, 2014.

Fair Value Measurements - Additional Information (Detail)	6 Months Ended
	Jun. 30, 2015 USD ($) Derivatives Contract	May 15, 2015
Derivative Instruments And Hedging Activities Disclosures [Line Items]
Number of foreign currency forward contracts outstanding \| Contract	5
Series E senior notes 4% due June 2025
Derivative Instruments And Hedging Activities Disclosures [Line Items]
Debt interest rate	4.00%	4.00%
Proceeds from forward swaps and treasury locks	$ 4,000,000
Amortization of forward swaps and treasury locks	10 years
Series E senior notes 4% due June 2025 \| Interest rate swap derivatives
Derivative Instruments And Hedging Activities Disclosures [Line Items]
Number of interest rate derivatives \| Derivatives	3
Notional amount	$ 150,000,000
Swaps hedged of variable rate basis	3-month LIBOR
Series E senior notes 4% due June 2025 \| Treasury locks
Derivative Instruments And Hedging Activities Disclosures [Line Items]
Number of interest rate derivatives \| Derivatives	2
Notional amount	$ 200,000,000
Swaps hedged of variable rate basis	10-year U.S. Treasury rate

Interest Rate Swap Derivatives Designated as Cash Flow Hedges (Detail) - Cash Flow Hedging - Interest Rate Swap

6 Months Ended

Jun. 30, 2015

AUD ($)

Jun. 30, 2015

NZD ($)

Swap Entered In Connection With Mortgage Loan On Hilton Melbourne South Wharf | Australia

Derivative [Line Items]

Transaction Date

November 2011

^[1]

Notional amount

$ 62,000,000

^[1]

Maturity Date

2016-11

^[1]

Swapped Index

Reuters BBSY

^[1]

All-in-Rate

6.70%

^[1]

6.70%

^[1]

Swap Entered In Connection With Seven Properties | New Zealand

Derivative [Line Items]

Transaction Date

February 2011

^[2]

Notional amount

$ 79,000,000

^[2]

Maturity Date

2016-02

^[2]

Swapped Index

NZ$ Bank Bill

^[2]

All-in-Rate

7.15%

^[2]

7.15%

^[2]

[1]	The swap was entered into in connection with the A$86 million ($66 million) mortgage loan on the Hilton Melbourne South Wharf.
[2]	The swap was entered into in connection with the NZ$105 million ($71 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	Jun. 30, 2015 USD ($) Hotel	Jun. 30, 2015 AUD ($) Hotel	Jun. 30, 2015 NZD ($) Hotel	Dec. 31, 2014 USD ($)
Derivative [Line Items]
Mortgage debt \| $	$ 389			$ 404
Hotels	111	111	111
Australia
Derivative [Line Items]
Hotels	1	1	1
New Zealand
Derivative [Line Items]
Hotels	7	7	7
Interest Rate Swap \| Australia \| Swap Entered In Connection With Mortgage Loan On Hilton Melbourne South Wharf
Derivative [Line Items]
Mortgage debt	$ 66	$ 86
Interest Rate Swap \| New Zealand \| Swap Entered In Connection With Seven Properties
Derivative [Line Items]
Mortgage debt	$ 71		$ 105
Hotels	7	7	7

Foreign Currency Sale Contracts (Detail) - Foreign Exchange Contract	3 Months Ended		6 Months Ended
	Jun. 30, 2015 USD ($)	Mar. 31, 2014 USD ($)	Jun. 30, 2015 USD ($)	Jun. 30, 2014 USD ($)	Jun. 30, 2015 EUR (€)	Jun. 30, 2015 CAD ($)
Euros
Derivative [Line Items]
Transaction Date Range			July 2011-May 2014
Total transaction amount	$ 135,000,000		$ 135,000,000		€ 100,000,000
Forward purchase date range			August 2015-May 2017
Change in fair value gain (loss)	(4,000,000)	$ 1,000,000	$ 10,000,000	$ 1,000,000
Canadian Dollars
Derivative [Line Items]
Transaction Date Range			November 2014
Total transaction amount	$ 22,000,000		$ 22,000,000			$ 25,000,000
Forward purchase date range			November 2016
Change in fair value gain (loss)			$ 1,000,000

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

3 Months Ended

6 Months Ended

Jun. 30, 2015

USD ($)

Jun. 30, 2014

USD ($)

Jun. 30, 2015

USD ($)

Jun. 30, 2014

USD ($)

Dec. 31, 2014

USD ($)

Dec. 31, 2014

EUR (€)

Dec. 31, 2014

CAD ($)

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

Balance Outstanding

$ 770

$ 704

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

$ 4

(44)

$ 11

Canadian Dollars

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

Balance Outstanding

^[1]

$ 46

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

^[1]

(1)

Euros

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

Balance Outstanding

€ 77

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

$ (3)

$ 1

$ 7

$ 1

[1]	We have drawn an additional $49 million on the credit facility in Canadian dollars, which draw has not been designated as a hedging instrument.

Derivative Instruments And Hedging Activities Disclosures [Line Items]

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

Jun. 30, 2015

USD ($)

Dec. 31, 2014

USD ($)

Dec. 31, 2014

CAD ($)

Derivative Instruments And Hedging Activities Disclosures [Line Items]

$ 770

$ 704

Canadian Dollars

Canadian Dollars | Not Designated as Hedging Instrument

^[1]

$ 46

Derivative Instruments And Hedging Activities Disclosures [Line Items]

$ 49

[1]	We have drawn an additional $49 million on the credit facility in Canadian dollars, which draw has not been designated as a hedging instrument.

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

Fair Values of Certain Financial Liabilities and Other Financial Instruments (Detail) - USD ($) $ in Millions	Jun. 30, 2015	Dec. 31, 2014
Financial liabilities
Senior notes (Level 1)	$ 2,499	$ 2,498
Exchangeable Senior Debentures (Level 1), carrying value	395	386
Credit facility (Level 2), carrying value	770	704
Mortgage debt and other, excluding capital leases (Level 2), carrying value	388	403
Quoted Prices in Active Markets for Identical Assets (Level 1)
Financial liabilities
Senior notes (Level 1), fair value	2,608	2,668
Exchangeable Senior Debentures (Level 1), fair value	621	739
Significant Other Observable Inputs (Level 2)
Financial liabilities
Credit facility (Level 2), fair value	770	704
Significant Other Observable Inputs (Level 2) \| Mortgage debt and other, excluding capital leases
Financial liabilities
Mortgage debt and other, excluding capital leases (Level 2), fair value	$ 396	$ 413

Geographic Information - Additional Information (Detail)	6 Months Ended
	Jun. 30, 2015 Entity Country
Segment Reporting [Abstract]
Number of operating segments \| Entity	1
Foreign operations, number of countries \| Country	6

Revenues and Long-Lived Assets by Geographical Area (Detail) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014	Dec. 31, 2014
Segment Reporting Information [Line Items]
Revenues	$ 1,449	$ 1,431	$ 2,766	$ 2,740
Property and equipment, net	10,776		10,776		$ 10,575
United States
Segment Reporting Information [Line Items]
Revenues	1,394	1,358	2,652	2,601
Property and equipment, net	10,373		10,373		10,111
Australia
Segment Reporting Information [Line Items]
Revenues	8	10	17	19
Property and equipment, net	95		95		102
Brazil
Segment Reporting Information [Line Items]
Revenues	8	12	15	19
Property and equipment, net	69		69		82
Canada
Segment Reporting Information [Line Items]
Revenues	15	24	29	44
Property and equipment, net	66		66		82
Chile
Segment Reporting Information [Line Items]
Revenues	6	8	13	16
Property and equipment, net	42		42		44
Mexico
Segment Reporting Information [Line Items]
Revenues	7	7	14	14
Property and equipment, net	22		22		26
New Zealand
Segment Reporting Information [Line Items]
Revenues	11	$ 12	26	$ 27
Property and equipment, net	$ 109		$ 109		$ 128

Non-Controlling Interests - Additional Information (Detail) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2015 USD ($) Entity	Jun. 30, 2014 USD ($)	Jun. 30, 2015 USD ($) Entity	Jun. 30, 2014 USD ($)	Dec. 31, 2014 USD ($)
Minority Interest [Line Items]
Number of majority-owned partnerships that have third-party, non-controlling ownership interests that have been consolidated \| Entity	6		6
Non-controlling interests—other consolidated partnerships	$ 32		$ 32		$ 32
Number of majority-owned partnerships that have third-party, non-controlling ownership interests with finite lives \| Entity	2		2
Non-controlling interests in outside partnerships, fair value	$ 94		$ 94		$ 85
Net income attributable to non-controlling interests outside partnerships	1	$ 2	6	$ 5
Net income	$ 3	$ 2	$ 4	$ 5
HOST HOTELS & RESORTS L.P.
Minority Interest [Line Items]
OP units conversion basis			One common OP unit may be exchanged into 1.021494 shares of Host Inc
Shares issuable upon conversion of one OP unit	1.021494		1.021494		1.021494
Lower Limit
Minority Interest [Line Items]
Majority-owned partnerships with mandatorily redeemable non-controlling interests, termination year			2081
Upper Limit
Minority Interest [Line Items]
Majority-owned partnerships with mandatorily redeemable non-controlling interests, termination year			2095

Historical Cost and Redemption Values for Non-Controlling Interests (Detail)
$ / shares in Units, shares in Millions, $ in Millions

Jun. 30, 2015

USD ($)

$ / shares

Dec. 31, 2014

USD ($)

$ / shares

Book value

$ 186

$ 225