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Host Hotels & Resorts, Inc.

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Shares of Host Hotels & Resorts have underperformed its industry, over the past three months. Moreover, the trend in estimate revisions of 2018 and 2019 funds from operations (FFO) per share do not indicate a favorable outlook for the company. The company recently announced a better-than-expected FFO per share for the third quarter, backed by improvements in food and beverage sales, productivity gains and operations of Hyatt portfolio acquired. These were partly muted by the disposition of eight hotels in 2017 and 2018. The company is making concerted efforts to improve the portfolio quality through targeted dispositions and lowering its international and New York exposure. However, elevated supply in some of the company’s key markets is expected to affect its pricing power. Moreover, dilutive impact on earnings from sale of assets and hike in interest rate adds to its woes.


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