Hospitality Expos - Host Hotels Hotel News

Increases Its RevPAR Forecast For 2012

Inland American Real Estate Trust, Inc., acquired the hotel for a sale price of $108 million plus FF&E reserve of $4.7 million for total proceeds to Host LP of $112.7 million.

Host Hotels & Resorts, Inc. (NYSE: HST), the nation's largest lodging real estate investment trust (REIT), today announced results of operations for the fourth quarter and full year ended December 31, 2011. Operating results for the quarter and full year include:

Host Hotels & Resorts, Inc. (NYSE: HST) announced that on February 2, 2012, the board of directors increased its size from eight to nine directors and elected Mr. Walter Rakowich to the board of directors effective as of March 1, 2012.

Crestline Hotels & Resorts, Inc. today announced that Host Hotels, the owner of the Hilton Singer Island Oceanfront/Palm Beaches Resort in Singer Island, FL, renewed its management agreement with Crestline under a long-term management agreement.

Host Hotels & Resorts, Inc. (NYSE: HST) announced that it has closed a new $1 billion revolving credit facility, which represents a $400 million increase over its existing facility, with a syndicate of banks.

Host Hotels & Resorts, Inc.® (NYSE: HST) today announced that Jim Risoleo will assume a new position with the company as executive vice president and managing director – Europe, effective January 1, 2012.

Mr. Marvin joined Host in September 2010 as senior vice president, acquisitions and, during his short tenure, has led company efforts to explore opportunities in Latin America and made valuable contributions to our acquisition efforts in the United States

Hotel revenues for owned hotels were $1.235 billion, an increase of $150 million, or 14%, for the second quarter of 2011 and were $2.081 billion, an increase of $204 million, or 11%, for year-to-date 2011. Total revenue increased $184 million, or 17%, for the quarter and $264 million, or 14% for year-to-date 2011.

Hotel revenues for owned hotels increased $54 million, or 7%, for the quarter compared to the first quarter of 2010.