Host Hotels & Resorts (HST) has recorded a mixed performance in Q2 2024. It's made significant acquisitions such as the luxury1 Hotel Central Park, in New York City and the Ritz-Carlton O’ahu, Turtle Bay resort. The resort, located in Hawaii, features 4550 rooms and was acquired for $735 million. This acquisition coincided with the company’s disposal of Sheraton Boston. HST also acquired the Four Seasons Resort and Residences Jackson Hole. Stock trends have been unclear with their performance fluctuating in comparison to competitors. Despite these investments, HST reported an unexpected drop in its 2024 forecast, a decision that led to its rating being lowered to neutral by Compass Point. Despite year-on-year profit growth of 13.8%, concerns have been raised regarding the potential execution risks involved with the expanded portfolio, leading to JP Morgan downgrading their stock. Nevertheless, long-term investors recognize value due to HST’s robust portfolio and strong RevPAR performance. Environmental, Social, and Governance (ESG) goals for 2030 have been outlined in their 2024 Corporate Responsibility Report.
Host Hotels Resorts HST News Analytics from Thu, 12 Nov 2020 08:00:00 GMT to Sun, 04 Aug 2024 15:47:47 GMT -
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