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Host Hotels & Resorts
Host Hotels & Resorts is the largest lodging REIT in the US, owning luxury and upper-upscale hotels operated by Marriott, Ritz-Carlton, and Hyatt.
Host Hotels & Resorts
Host Hotels & Resorts formed in 1993 as a spin-off from the Marriott Corporation's real estate holdings, becoming a publicly traded real estate investment trust. The firm's origin story ties directly to the Marriott family's decision to separate property ownership from hotel management — a restructuring that left Host holding dozens of full-service Marriott-branded assets at inception. James Risoleo became CEO in 2017 after a decade with the firm and has since accelerated a strategy of pruning non-core suburban hotels while acquiring trophy properties in high-barrier-to-entry markets. Host's portfolio spans luxury, upper-upscale, and convention-center-anchored hotels, with heavy exposure to Marriott International-managed properties alongside assets operated by Hyatt, Accor, and independent luxury groups. The REIT targets acquisitions in US Sunbelt cities, coastal California, Florida, and Hawaii, with additional holdings in Canada and select international gateway markets. Confirmed transactions include the 2019 purchase of the 1 Hotel South Beach in Miami for approximately $610 million (per the firm's public filings, 2019) and the acquisition of the Andaz Maui at Wailea Resort in 2018 for roughly $420 million (per SEC filings, 2018). The firm actively recycles capital, selling older assets to fund equity stakes in newly built or renovated luxury properties with stronger RevPAR growth profiles. As of early 2024, Host held ownership stakes in roughly 75 properties totaling approximately 42,000 rooms, with an enterprise value hovering near $14 billion — making it the largest pure-play lodging REIT by asset base (per public SEC filings, Q1 2024). The firm maintains its headquarters in Bethesda, Maryland. Investment activity is executed through direct property acquisitions, joint ventures, and structured sale-leaseback transactions with major hotel operators. In November 2023, James Risoleo was named chairman of the board in addition to his CEO role, formalizing a leadership transition that concentrated decision-making authority under a single executive (per SEC filing, November 2023). Host's structural differentiator is its size within a fragmented ownership market. As the largest dedicated lodging REIT, it can pursue off-market portfolio acquisitions that smaller competitors cannot underwrite. The firm's public equity currency gives sellers a tax-efficient exit via UPREIT structure, and its deep relationship with Marriott provides preferential access to newly developed properties exiting the manager's pipeline. This hybrid public-private sourcing model — combining stock-for-asset swaps with direct cash purchases — is unusual in hotel real estate and gives Host a negotiating advantage rarely available to private fund operators or smaller public peers.
General information
Firm type
Private Equity
Year founded
1993
AUM
Undisclosed
Location
Region
North America
Country
United States
City
Bethesda
Corporate office
Bethesda, MD, United States
Principals
James Risoleo
President and Chief Executive Officer
Sector focus
Frequently asked questions
Who runs investment decisions at Host Hotels & Resorts?
James Risoleo serves as president, CEO, and chairman of Host Hotels & Resorts, holding ultimate authority over the firm's acquisition, disposition, and capital allocation strategy. Risoleo joined Host in 1996 and became CEO in 2017, succeeding W. Edward Walter. Investment committee decisions are supported by a team of regional asset managers and a dedicated acquisitions group out of the Bethesda headquarters.
How does Host Hotels source its hotel acquisitions?
Host sources acquisitions through direct relationships with hotel developers, off-market negotiations with institutional owners, and broker-led processes. The firm's status as a publicly traded REIT allows it to use operating partnership units as acquisition currency, enabling sellers to defer capital gains taxes via the UPREIT structure. Its long-standing Marriott relationship gives it early visibility into properties in the brand's development pipeline.
What is Host's relationship with Marriott International?
Host Hotels & Resorts was spun out of Marriott Corporation in 1993, separating property ownership from hotel management. While Marriott no longer holds an ownership stake, the majority of Host's portfolio remains Marriott-branded — including Ritz-Carlton, JW Marriott, and Westin properties. Host is an operator-independent owner; Marriott and other managers run the hotels under long-term management contracts.
What types of properties does Host Hotels target?
Host focuses on luxury and upper-upscale hotels with significant meeting and group space, located in high-barrier-to-entry urban and resort markets. The portfolio skews toward large convention-center-adjacent properties, coastal resorts, and Sunbelt leisure destinations. The firm has deliberately divested mid-scale and select-service hotels over the past decade to concentrate capital in the highest-RevPAR segments.
Is Host Hotels & Resorts a family office or a public REIT?
Host Hotels & Resorts is a publicly traded real estate investment trust listed on the New York Stock Exchange under the ticker HST. Despite its Marriott-family origins as a spin-off in 1993, it is not a family office. The firm is widely held by institutional investors, with no single founding family maintaining a controlling stake.
Does Host Hotels invest internationally or only in the US?
Host's portfolio is anchored in the United States, particularly Sunbelt cities, coastal California, Florida, and Hawaii. The firm holds select assets in Canada and has previously owned properties in international gateway markets. The current strategy prioritizes domestic acquisitions in markets with strong group travel and leisure demand fundamentals.
How does Host Hotels compare to other lodging REITs?
Host is the largest pure-play lodging REIT by enterprise value, with roughly 75 properties and 42,000 rooms. Its competitors — including Sunstone Hotel Investors, Pebblebrook Hotel Trust, and Park Hotels & Resorts — all hold portfolios smaller in scale. Host's size advantage translates to better debt-market access and the ability to acquire trophy assets that require equity checks beyond the capacity of smaller peers.
Profile maintained by Altss using OSINT (open-source intelligence), regulatory filings, licensed data partners, and verified direct submissions. Read the methodology. Last updated: . Continuous refresh with full update cycles at least every 30 days.
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