{ "docId": "019dd923-5eff-723e-9be6-d2863d97dadc", "docSlug": "a27982921c5d4bb0", "documentTitle": "2026 02 Investor Presentation", "authorId": "Host-Hotels", "authorName": "Host Hotels & Resorts", "documentKindSlug": "consulting-deck", "documentKindLabel": "Consulting deck", "sourceTypeSlug": "strategy_consulting", "sourceTypeLabel": "Strategy consulting", "presentationDate": null, "orientation": "landscape", "aspectRatio": 1.333, "pageNumber": 47, "pageCount": 66, "prevPage": 46, "nextPage": 48, "slideType": "appendix_disclosure", "function": "appendix", "density": "overcrowded", "nDataPoints": 0, "notes": "Includes specific examples of excluded properties (Don CeSar, Alila Ventana Big Sur, Four Seasons Resort Orlando, St. Regis Houston).", "elementsJson": [ "paragraph", "bullet_list" ], "metadataConfidence": 1, "imagePath": null, "slideHref": "/slides/019dd923-5eff-723e-9be6-d2863d97dadc/47", "deckHref": "/decks/019dd923-5eff-723e-9be6-d2863d97dadc", "deckJsonHref": "/decks/019dd923-5eff-723e-9be6-d2863d97dadc.json", "deckAnchorHref": "/decks/019dd923-5eff-723e-9be6-d2863d97dadc#slide-47", "components": [ { "bbox": { "h": 0.1, "w": 0.84, "x": 0.08, "y": 0.74 }, "kind": "list", "text": "The Don CeSar (business disruption due to Hurricane Helene resulting in closure of the hotel beginning at the end of September 2024, reopened in March 2025);\nAlila Ventana Big Sur (business disruption due to the collapse of a portion of Highway 1, causing closure of the hotel beginning in March 2024, reopened in May 2024); and\nOperations related to the development and sale of condominium units on a development parcel adjacent to the Four Seasons Resort Orlando at Walt Disney World® Resort.", "attrs": null, "subkind": "bullet", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "7d738527-da05-4181-99fb-62e60fef5601", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.03, "w": 0.84, "x": 0.08, "y": 0.85 }, "kind": "paragraph", "text": "At December 31, 2025, The St. Regis Houston was classified as held-for-sale. Therefore, the results of this hotel are also excluded from comparable hotel operating statistics and results.", "attrs": null, "subkind": "paragraph", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "18e8b04a-3ffb-4e12-b6f2-0c9d5403b3d7", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.05, "w": 0.84, "x": 0.08, "y": 0.68 }, "kind": "paragraph", "text": "Of the 79 hotels that we owned as of December 31, 2025, 76 have been classified as comparable hotels. The operating results of the following properties that we owned, and that were not classified as held-for-sale, as of December 31, 2025 are excluded from comparable hotel results for these periods:", "attrs": null, "subkind": "paragraph", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "2f271963-8a55-4347-a291-5ca897e961c0", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.08, "w": 0.84, "x": 0.08, "y": 0.36 }, "kind": "paragraph", "text": "We make adjustments to include recent acquisitions to include results for periods prior to our ownership. For these hotels, since the year-over-year comparison includes periods prior to our ownership, the changes will not necessarily correspond to changes in our actual results. Additionally, operating results of hotels that we sell are excluded from the comparable hotel set once the transaction has closed or the hotel is classified as held-for-sale.", "attrs": null, "subkind": "paragraph", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "7c65eca9-8884-4c8a-a867-490457cfda03", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.06, "w": 0.84, "x": 0.08, "y": 0.45 }, "kind": "paragraph", "text": "The hotel business is capital-intensive and renovations are a regular part of the business. Generally, hotels under renovation remain comparable hotels. A large-scale capital project would cause a hotel to be excluded from our comparable hotel set if it requires the entire property to be closed to hotel guests for one month or longer.", "attrs": null, "subkind": "paragraph", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "8cbe923e-f459-405d-aae7-16e0ab8d9f94", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.15, "w": 0.84, "x": 0.08, "y": 0.2 }, "kind": "paragraph", "text": "To facilitate a year-to-year comparison of our operations, we present certain operating statistics (i.e., Total RevPAR, RevPAR, average daily rate and average occupancy) and operating results (revenues, expenses, hotel EBITDA and associated margins) for the periods included in our reports on a comparable hotel basis in order to enable our investors to better evaluate our operating performance. We define our comparable hotels as those that: (i) are owned or leased by us as of the reporting date and are not classified as held-for-sale; and (ii) have not sustained substantial property damage or business interruption, or undergone large-scale capital projects, in each case requiring closures lasting one month or longer (as further defined below), during the reporting periods being compared.", "attrs": null, "subkind": "paragraph", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "c2471fba-3b50-4653-98dc-03d24e2f6cf7", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.15, "w": 0.84, "x": 0.08, "y": 0.52 }, "kind": "paragraph", "text": "Similarly, hotels are excluded from our comparable hotel set from the date that they sustain substantial property damage or business interruption if it requires the property to be closed to hotel guests for one month or longer. In each case, these hotels are returned to the comparable hotel set when the operations of the hotel have been included in our consolidated results for one full calendar year after the hotel has reopened. Often, related to events that cause property damage and the closure of a hotel, we will collect business interruption insurance proceeds for the near-term loss of business. These proceeds are included in net gain on insurance settlements on our condensed consolidated statements of operations. Business interruption insurance gains covering lost revenues while the property was considered non-comparable also will be excluded from the comparable hotel results.", "attrs": null, "subkind": "paragraph", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "c3b4cd1e-9871-4a8e-9dec-40528b3abdf4", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.02, "w": 0.35, "x": 0.08, "y": 0.16 }, "kind": "paragraph", "text": "Comparable Hotel Operating Statistics and Results", "attrs": null, "subkind": "paragraph", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "f01370c1-bd73-42c7-8d7a-4bea64b474ce", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.04, "w": 0.35, "x": 0.08, "y": 0.08 }, "kind": "title", "text": "Key Terms And Statistics", "attrs": null, "subkind": "headline", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "625d3115-bd05-49db-8206-e938ec1ae415", "frameworkName": null, "frameworkSlug": null } ], "metrics": [], "tools": [], "frameworks": [], "arcBeats": [], "loops": [], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }