HSTHost Hotels & Resorts

Real estate · REIT · Nasdaq

We are the largest publicly traded lodging REIT, with a geographically diverse portfolio of luxury and upper-upscale hotels. 10-K, Item 1

Headquarters: Bethesda, MD
CEO: James F. Risoleo
Next results: around Feb 17, 2027

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HST and 9 peers, year by year

The 9 Real estate companies closest to HST in revenue over the last twelve months. Every number is from the 10-K and links to it in SEC's Inline XBRL viewer.

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Each company's latest fiscal year
Company	Year	Revenue	Sales growth	Gross margin	Operating margin	Net margin	FCF margin	Return on equity	Debt / equity
HST Host Hotels & Resorts	FY2025	$6.1B	+7.6%	-	14.0%	12.5%	-	11.7%	0.19
O Realty Income	FY2025	$5.7B	+9.1%	-	-	18.4%	-	2.7%	0.01
DLR Digital Realty	FY2025	$6.1B	+10.0%	-	10.8%	21.4%	-	5.7%	-
VTR Ventas	FY2025	$5.8B	+18.5%	-	-	4.3%	−22.0%	2.0%	1.04
WY Weyerhaeuser	FY2025	$6.9B	−3.1%	14.8%	10.6%	4.7%	-	3.4%	0.59
SPG Simon Property Group	FY2025	$6.4B	+6.7%	-	49.9%	72.7%	50.3%	88.8%	5.46
PSA Public Storage	FY2025	$4.8B	+2.7%	-	-	37.0%	-	19.3%	1.11
IRM Iron Mountain	FY2025	$6.9B	+12.2%	-	16.9%	2.1%	−13.5%	n/m	n/m
VICI Vici Properties	FY2025	$4.0B	+4.1%	-	-	69.3%	-	10.0%	0.60
CCI Crown Castle	FY2025	$4.3B	+12.0%	-	48.7%	10.4%	67.4%	n/m	n/m

Revenuepeer median $5.8B

Sales growthpeer median +9.1%

Operating marginpeer median 16.9%

SPG 49.9%
CCI 48.7%
IRM 16.9%
HST 14.0%
DLR 10.8%
WY 10.6%
O -
VTR -
PSA -
VICI -

Net marginpeer median 18.4%

FCF marginpeer median 18.4%

CCI 67.4%
SPG 50.3%
IRM −13.5%
VTR −22.0%
HST -
O -
DLR -
WY -
PSA -
VICI -

Return on equitypeer median 5.7%

SPG 88.8%
PSA 19.3%
HST 11.7%
VICI 10.0%
DLR 5.7%
WY 3.4%
O 2.7%
VTR 2.0%
IRM n/m
CCI n/m

Debt / equitypeer median 0.82

SPG 5.46
PSA 1.11
VTR 1.04
VICI 0.60
WY 0.59
HST 0.19
O 0.01
DLR -
IRM n/m
CCI n/m

RevenueSales growthGross marginOperating marginNet marginFree cash flowFCF marginReturn on equityDebt / equityEPS (diluted)

Revenue, FY2016 to FY2025

Revenue as reported in the 10-K.

Company	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
HST Dec	$5.4B	$5.4B	$5.5B	$5.5B	$1.6B	$2.9B	$4.9B	$5.3B	$5.7B	$6.1B
O Dec	$1.1B	$1.2B	$1.3B	$1.5B	$1.6B	$2.1B	$3.3B	$4.1B	$5.3B	$5.7B
DLR Dec	$2.1B	$2.5B	$3.0B	$3.2B	$3.9B	$4.4B	$4.7B	$5.5B	$5.6B	$6.1B
VTR Dec	$3.4B	$3.6B	$3.7B	$3.9B	$3.8B	$3.8B	$4.1B	$4.5B	$4.9B	$5.8B
WY Dec	$6.4B	$7.2B	$7.5B	$6.6B	$7.5B	$10.2B	$10.2B	$7.7B	$7.1B	$6.9B
SPG Dec	$5.4B	$5.5B	$5.6B	$5.8B	$4.6B	$5.1B	$5.3B	$5.7B	$6.0B	$6.4B
PSA Dec	$2.6B	$2.7B	$2.8B	$2.9B	$2.9B	$3.4B	$4.2B	$4.5B	$4.7B	$4.8B
IRM Dec	$3.5B	$3.8B	$4.2B	$4.3B	$4.1B	$4.5B	$5.1B	$5.5B	$6.1B	$6.9B
VICI Dec	-	$187.6M	$898.0M	$894.8M	$1.2B	$1.5B	$2.6B	$3.6B	$3.8B	$4.0B
CCI Dec	$3.9B	$4.4B	$5.4B	$5.8B	$5.8B	$6.3B	$7.0B	$4.7B	$4.5B	$4.3B
Peer median	$3.5B	$3.6B	$3.7B	$3.9B	$3.9B	$4.4B	$4.7B	$4.7B	$5.3B	$5.8B

Sales growth, FY2016 to FY2025

Revenue against the fiscal year before.

Company	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
HST Dec	+1.5%	−0.8%	+2.5%	−1.0%	−70.4%	+78.4%	+69.8%	+8.2%	+7.0%	+7.6%
O Dec	-	+10.2%	+9.2%	+12.3%	+10.7%	+26.3%	+60.7%	+22.0%	+29.2%	+9.1%
DLR Dec	+21.5%	+14.7%	+23.9%	+5.3%	+21.6%	+13.4%	+6.0%	+16.7%	+1.4%	+10.0%
VTR Dec	+4.8%	+3.8%	+4.8%	+3.4%	−2.0%	+0.9%	+7.9%	+8.9%	+9.5%	+18.5%
WY Dec	+21.3%	+13.1%	+3.9%	−12.3%	+14.9%	+35.4%	−0.2%	−24.6%	−7.2%	−3.1%
SPG Dec	+3.2%	+1.9%	+2.1%	+1.9%	−19.9%	+11.1%	+3.4%	+6.9%	+5.4%	+6.7%
PSA Dec	+7.5%	+4.2%	+3.2%	+3.5%	+2.1%	+17.2%	+22.4%	+8.0%	+3.9%	+2.7%
IRM Dec	+16.7%	+9.5%	+9.9%	−1.4%	−11.9%	+8.3%	+13.6%	+7.4%	+12.2%	+12.2%
VICI Dec	-	-	+379%	−0.4%	+37.0%	+23.2%	+72.3%	+38.9%	+6.6%	+4.1%
CCI Dec	+7.0%	−0.1%	+10.2%	+16.7%	−22.4%	+19.4%	+12.2%	−35.6%	−54.4%	+12.0%
Peer median	+7.5%	+6.9%	+9.2%	+3.4%	+2.1%	+17.2%	+12.2%	+8.0%	+5.4%	+9.1%

Gross margin, FY2016 to FY2025

Gross profit / revenue.

Company	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
HST Dec	-	-	-	-	-	-	-	-	-	-
O Dec	-	-	-	-	-	-	-	-	-	-
DLR Dec	-	-	-	-	-	-	-	-	-	-
VTR Dec	-	-	-	-	-	-	-	-	-	-
WY Dec	21.8%	26.4%	25.2%	17.4%	27.7%	40.2%	35.5%	21.9%	18.4%	14.8%
SPG Dec	-	-	-	-	-	-	-	-	-	-
PSA Dec	73.9%	73.5%	73.0%	-	-	-	-	-	-	-
IRM Dec	-	-	-	-	-	-	-	-	-	-
VICI Dec	-	-	-	-	-	-	-	-	-	-
CCI Dec	-	-	-	-	-	-	-	-	-	-
Peer median	-	-	-	-	-	-	-	-	-	-

Operating margin, FY2016 to FY2025

Operating income / revenue.

Company	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
HST Dec	12.6%	12.5%	9.6%	14.6%	−58.8%	−8.7%	15.8%	15.6%	15.4%	14.0%
O Dec	-	-	-	-	-	-	-	-	-	-
DLR Dec	23.2%	18.4%	18.0%	18.5%	14.3%	15.7%	12.6%	9.6%	8.5%	10.8%
VTR Dec	-	-	-	-	-	-	-	-	-	-
WY Dec	12.9%	15.7%	18.6%	9.9%	22.7%	35.7%	30.2%	15.5%	9.6%	10.6%
SPG Dec	50.1%	50.7%	51.8%	50.6%	42.8%	47.2%	48.8%	49.6%	51.9%	49.9%
PSA Dec	53.7%	53.3%	-	-	-	-	-	-	-	-
IRM Dec	14.3%	16.5%	19.1%	18.3%	22.5%	19.0%	20.6%	16.8%	16.4%	16.9%
VICI Dec	-	76.9%	15.6%	5.8%	26.2%	-	-	-	-	-
CCI Dec	24.2%	22.2%	25.8%	27.1%	31.9%	31.6%	34.7%	44.3%	47.5%	48.7%
Peer median	23.7%	22.2%	18.9%	18.4%	24.4%	31.6%	30.2%	16.8%	16.4%	16.9%

Net margin, FY2016 to FY2025

Net income / revenue.

Company	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
HST Dec	14.0%	10.5%	19.7%	16.8%	−45.2%	−0.4%	12.9%	13.9%	12.3%	12.5%
O Dec	28.6%	26.2%	27.4%	29.3%	24.0%	17.3%	26.0%	21.4%	16.3%	18.4%
DLR Dec	19.9%	10.1%	10.9%	18.1%	9.1%	38.6%	8.0%	17.3%	10.8%	21.4%
VTR Dec	18.9%	38.0%	10.9%	11.2%	11.6%	1.3%	−1.1%	−0.9%	1.6%	4.3%
WY Dec	16.1%	8.1%	10.0%	−1.2%	10.6%	25.6%	18.5%	10.9%	5.6%	4.7%
SPG Dec	33.8%	35.2%	43.2%	36.5%	24.1%	43.9%	40.4%	40.3%	39.7%	72.7%
PSA Dec	56.8%	54.0%	62.0%	53.3%	46.6%	57.2%	104.0%	47.6%	44.1%	37.0%
IRM Dec	3.0%	4.4%	8.4%	6.3%	8.3%	10.0%	10.9%	3.4%	2.9%	2.1%
VICI Dec	-	23.7%	58.3%	61.0%	72.8%	67.2%	43.0%	69.6%	69.6%	69.3%
CCI Dec	9.1%	10.2%	9.5%	13.0%	17.1%	17.3%	24.0%	31.7%	−87.5%	10.4%
Peer median	19.4%	23.7%	10.9%	18.1%	17.1%	25.6%	24.0%	21.4%	10.8%	18.4%

Free cash flow, FY2016 to FY2025

Cash from operations minus capital spending.

Company	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
HST Dec	$1.0B	$1.0B	$1.0B	-	-	-	-	-	-	-
O Dec	-	-	-	-	-	-	-	-	-	-
DLR Dec	-	-	-	-	-	-	-	-	-	-
VTR Dec	$1.2B	$1.3B	$1.2B	$1.3B	$842.9M	−$775.9M	$219.5M	$470.4M	−$1.2B	−$1.3B
WY Dec	$284.0M	$843.0M	$744.0M	-	-	-	-	-	-	-
SPG Dec	$2.6B	$2.9B	$3.0B	$2.9B	$1.8B	$3.1B	$3.1B	$3.1B	$3.1B	$3.2B
PSA Dec	-	-	-	-	-	-	-	-	-	-
IRM Dec	$215.3M	$377.8M	$475.5M	$273.7M	$549.4M	$147.8M	$52.3M	−$225.7M	−$594.9M	−$931.6M
VICI Dec	-	-	$503.2M	$679.4M	-	-	-	-	-	-
CCI Dec	$913.0M	$3.2B	$761.0M	$641.0M	$1.4B	$1.6B	$1.6B	$2.9B	$2.8B	$2.9B
Peer median	$913.0M	$1.3B	$752.5M	$679.4M	$1.1B	$853.9M	$893.7M	$1.7B	$1.1B	$971.7M

FCF margin, FY2016 to FY2025

Free cash flow / revenue.

Company	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
HST Dec	18.6%	19.0%	18.6%	-	-	-	-	-	-	-
O Dec	-	-	-	-	-	-	-	-	-	-
DLR Dec	-	-	-	-	-	-	-	-	-	-
VTR Dec	35.9%	36.3%	33.4%	33.1%	22.2%	−20.3%	5.3%	10.5%	−24.4%	−22.0%
WY Dec	4.5%	11.7%	10.0%	-	-	-	-	-	-	-
SPG Dec	47.4%	51.8%	52.6%	50.9%	40.0%	60.8%	58.9%	55.4%	51.3%	50.3%
PSA Dec	-	-	-	-	-	-	-	-	-	-
IRM Dec	6.1%	9.8%	11.3%	6.4%	13.2%	3.3%	1.0%	−4.1%	−9.7%	−13.5%
VICI Dec	-	-	56.0%	75.9%	-	-	-	-	-	-
CCI Dec	23.3%	74.6%	14.2%	11.1%	24.5%	24.6%	22.4%	60.9%	62.0%	67.4%
Peer median	23.3%	36.3%	23.8%	33.1%	23.4%	13.9%	13.9%	33.0%	20.8%	18.4%

Return on equity, FY2016 to FY2025

Net income / shareholders' equity at the year end.

Company	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
HST Dec	10.9%	8.1%	14.5%	12.6%	−11.6%	−0.2%	9.4%	11.2%	10.5%	11.7%
O Dec	4.7%	4.3%	4.5%	4.5%	3.6%	1.4%	3.0%	2.6%	2.2%	2.7%
DLR Dec	8.4%	2.4%	3.4%	5.9%	2.0%	9.5%	2.1%	5.0%	2.8%	5.7%
VTR Dec	6.2%	12.5%	4.0%	4.1%	4.3%	0.5%	−0.5%	−0.4%	0.8%	2.0%
WY Dec	11.2%	6.5%	8.3%	−0.9%	9.1%	24.2%	17.5%	8.2%	4.1%	3.4%
SPG Dec	42.6%	52.8%	73.9%	83.1%	36.5%	66.8%	68.1%	75.4%	80.5%	88.8%
PSA Dec	15.4%	16.1%	18.8%	16.8%	15.9%	20.9%	43.2%	21.5%	21.3%	19.3%
IRM Dec	5.4%	7.4%	19.0%	18.3%	30.1%	52.6%	87.5%	87.0%	n/m	n/m
VICI Dec	-	0.9%	7.7%	6.9%	9.5%	8.4%	5.1%	10.0%	10.1%	10.0%
CCI Dec	4.9%	3.7%	4.4%	7.1%	10.6%	13.3%	22.5%	23.5%	n/m	n/m
Peer median	7.3%	6.5%	7.7%	6.9%	9.5%	13.3%	17.5%	10.0%	4.1%	5.7%

Debt / equity, FY2016 to FY2025

Total debt / shareholders' equity at the year end.

Company	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
HST Dec	0.17	0.21	0.06	0.06	0.07	0.07	0.11	0.11	0.14	0.19
O Dec	0.59	-	-	-	0.00	0.04	0.02	0.02	0.00	0.01
DLR Dec	-	-	-	-	-	-	-	-	-	-
VTR Dec	1.06	1.04	1.05	1.22	1.17	1.13	1.25	1.42	1.26	1.04
WY Dec	0.72	0.67	0.65	0.75	0.63	0.47	0.47	0.50	0.52	0.59
SPG Dec	5.33	6.68	7.07	9.56	8.79	7.53	7.95	8.61	8.25	5.46
PSA Dec	0.04	0.16	0.15	0.21	0.30	0.80	0.68	0.91	0.96	1.11
IRM Dec	3.23	3.07	4.38	5.92	7.66	10.83	16.60	n/m	n/m	n/m
VICI Dec	-	0.88	0.60	0.60	0.72	0.39	0.63	0.66	0.63	0.60
CCI Dec	1.70	1.36	1.45	1.74	2.05	2.51	3.03	3.72	n/m	n/m
Peer median	1.06	1.04	1.05	1.22	0.94	0.97	0.97	0.91	0.80	0.82

EPS (diluted), FY2016 to FY2025

Diluted earnings per share, on today's share count after splits.

Company	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
HST Dec	$1.02	$0.76	$1.47	$1.26	−$1.04	−$0.02	$0.88	$1.04	$0.99	$1.10
O Dec	$1.13	$1.10	$1.26	$1.38	$1.14	$0.87	$1.42	$1.26	$0.98	$1.17
DLR Dec	$2.20	$0.99	$1.21	$2.35	$1.00	$5.94	$1.11	$2.88	$1.61	$3.58
VTR Dec	$1.86	$3.78	$1.14	$1.17	$1.17	$0.13	−$0.12	−$0.10	$0.19	$0.54
WY Dec	$1.39	$0.77	$0.99	−$0.10	$1.07	$3.47	$2.53	$1.15	$0.54	$0.45
SPG Dec	$5.87	$6.24	$7.87	$6.81	$3.59	$6.84	$6.52	$6.98	$7.26	$14.17
PSA Dec	$6.81	$6.73	$8.54	$7.29	$6.29	$9.87	$23.50	$11.06	$10.64	$9.01
IRM Dec	$0.42	$0.64	$1.23	$0.93	$1.19	$1.55	$1.90	$0.63	$0.61	$0.49
VICI Dec	-	-	$1.43	$1.24	$1.75	$1.76	$1.27	$2.47	$2.56	$2.61
CCI Dec	$0.95	$0.80	$1.23	$1.79	$2.35	$2.53	$3.86	$3.46	−$8.98	$1.01
Peer median	$1.62	$1.04	$1.23	$1.38	$1.19	$2.53	$1.90	$2.47	$0.98	$1.17

Fiscal years are lined up as each company's 10-K names them; the month next to a ticker is when its year ends. Hover a number for the XBRL line items and the filing; click it to open the filing on sec.gov. "n/m" means not meaningful: equity below zero, or a base so close to zero that the ratio says nothing. The peer median leaves out HST and needs at least three peers with the number. P/E, P/S and P/FCF at each year end appear here once the site has daily prices. What the same companies write about AI, tariffs and more →

Work on HST in a spreadsheet: Excel workbook (a sheet per section, ten years by column, charts, links to the filings) · CSV. For a Google Sheet that stays up to date, paste =IMPORTDATA("https://tickdelta.com/company/HST/export.csv") into a cell.