Host Hotels & Resorts, Inc.
Q4 2021 Earnings Call Transcript

Published:

  • Disclaimer*:
    This transcript is designed to be used alongside the freely available audio recording on this page. Timestamps within the transcript are designed to help you navigate the audio should the corresponding text be unclear. The machine-assisted output provided is partly edited and is designed as a guide.
  • Operator:
    00
  • Jaime Marcus:
    00
  • Jim Risoleo:
    01
  • Sourav Ghosh:
    19
  • Operator:
    31
  • Smedes Rose:
    31
  • Jim Risoleo:
    32
  • Sourav Ghosh:
    33
  • Smedes Rose:
    34
  • Operator:
    34
  • Bill Crow:
    34
  • Sourav Ghosh:
    35
  • Bill Crow:
    36
  • Jim Risoleo:
    37
  • Bill Crow:
    40
  • Operator:
    40
  • Floris Van Dycom:
    Hi, it is Floris at Compass Point. A question, Jim, and maybe if you can touch on this, and I guess I'll -- it is more regarding to the valuation of hotels. And I saw, number one, you have sold 3 ground leases, you have got some more ground leases. I don't think you are going to sell any of the San Diego ground-leased hotels, but maybe if you can -- which other hotels might be on the block? And also talk about -- maybe if you can touch on, I noticed the 1 Hotel had $68 million of hotel EBITDA this past year. How does that compare to pre-COVID levels? And how sustainable -- the one fear that we hear from some investors is, well, gee, these resort hotels are -- have really strong EBITDA today, but could that fall off? How sustainable is the EBITDA from your top resort hotels and maybe talk about -- a little about the growth prospects for those assets?
  • Jim Risoleo:
    41
  • Floris Van Dycom:
    45
  • Operator:
    45
  • Neil Malkin:
    45
  • Sourav Ghosh:
    46
  • Neil Malkin:
    49
  • Operator:
    49
  • Jay Kornbrekke:
    50
  • Jim Risoleo:
    So, Jay, your question is, are we going to move to where the puck's going or where the puck has already been. Right? In the words of Wayne
  • Jay Kornbrekke:
    50
  • Jim Risoleo:
    50
  • Jay Kornbrekke:
    52
  • Operator:
    52
  • Stephen Grambling:
    52
  • Jim Risoleo:
    53
  • Stephen Grambling:
    55
  • Operator:
    55
  • Robin Farley:
    55
  • Jim Risoleo:
    56
  • Robin Farley:
    58
  • Operator:
    58
  • Anthony Powell:
    58
  • Sourav Ghosh:
    58
  • Anthony Powell:
    59
  • Sourav Ghosh:
    59
  • Anthony Powell:
    59
  • Sourav Ghosh:
    59
  • Operator:
    59
  • Ari Klein:
    59
  • Jim Risoleo:
    59
  • Ari Klein:
    64
  • Operator:
    64
  • Chris Woronka:
    64
  • Jim Risoleo:
    65
  • Sourav Ghosh:
    66
  • Chris Woronka:
    68
  • Operator:
    68
  • Rich Hightower:
    68
  • Sourav Ghosh:
    69
  • Rich Hightower:
    69
  • Jim Risoleo:
    70
  • Rich Hightower:
    70
  • Operator:
    71
  • Jim Risoleo:
    71
  • Operator:
    71

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