Host Hotels & Resorts
 | |
 Corporate Headquarters | |
| Formerly | Host Marriott Corporation (1993-2005) |
|---|---|
| Company type | Public |
| Nasdaq: HST S&P 500 component | |
| Industry | Real estate investment trust |
| Founded | 1993 |
| Headquarters | 4747 Bethesda Avenue, Suite 1300, , United States |
Key people | Richard E. Marriott (chairman) James F. Risoleo (president & CEO) Sourav Ghosh (CFO) |
| Revenue | $5.311 billion (2023) |
| $752 million (2023) | |
| Total assets | $12.243 billion (2023) |
| Total equity | $6.637 billion (2023) |
Number of employees | 163 (2024) |
| Website | hosthotels |
| Footnotes / references [1] | |
Host Hotels & Resorts, Inc. is an American real estate investment trust that invests in hotels. As of December 31, 2023, the company owned 77 upscale hotels containing approximately 42,000 rooms in the United States, Brazil, and Canada.[1]
History
[edit]In 1927, John Willard Marriott and his wife Alice opened a root beer stand in Washington, D.C. that they named “The Hot Shoppe,” which later became a public company.[2] In 1957, Hot Shoppes, Inc. expanded into the lodging business with the opening of its first hotel in Arlington, Virginia, and in 1967, the company was renamed Marriott Corporation.[2]
In 1897, the Van Noy Brothers of Kansas City, Missouri, formed Van Noy Railway News and Hotel Company to operate news stands along the Missouri Pacific and other regional railroads. The company later expanded to various hospitality services, including hotels. After several name and business changes it became the Host International Company in 1968. It was acquired by Marriott Corporation in 1982.[3][4]
In 1993, Marriott Corporation divided its business into two companies: Marriott International, Inc., which took over management and franchising, and Host Marriott Corporation.[5][6] Host Marriott managed lodging and travel concessions at airports and along turnpikes and interstate highways.[6] The concession businesses were further spun off as Host Marriott Services, or HMSHost.[5] After divesting its non-hotel business and reorganizing it as a real estate investment trust in 1998,[7] it adopted its current name—Host Hotels & Resorts, Inc.—in 2006.[8][9]
References
[edit]- ^ a b c "Host Hotels & Resorts, Inc. 2023 Form 10-K Annual Report". U.S. Securities and Exchange Commission.
- ^ a b "Our Story of Innovation". www.marriott.com. Retrieved 2024-03-21.
- ^ "Marriott Offers To Buy Gino's". The New York Times. Associated Press. January 5, 1982.
- ^ Jones, William H. (December 21, 1981). "The Marriott 'Snack Attack'". The Washington Post.
- ^ a b "Host Marriott to Separate Concessions Unit From Hotel Holdings". The New York Times. August 10, 1995.
- ^ a b "Marriott's Big Split". The Washington Post. July 18, 1993.
- ^ "REIT Plan Finished, Host Marriott Says". The New York Times. January 1, 1999.
- ^ Rosenwald, Michael S. (November 15, 2005). "Host Marriott To Buy 38 Hotels". The Washington Post.
- ^ "Host Marriott Buys Starwood Hotels for $4B". Fox News. Reuters. November 14, 2005.
External links
[edit]- Business data for Host Hotels & Resorts, Inc.:
- Companies in the NASDAQ Financial-100
- Companies listed on the Nasdaq
- American companies established in 1993
- Hospitality companies established in 1993
- Real estate companies established in 1993
- Financial services companies established in 1993
- Companies formerly listed on the New York Stock Exchange
- Hospitality companies of the United States
- Marriott International
- Real estate investment trusts of the United States
- Companies based in Bethesda, Maryland
- Corporate spin-offs