HOST HOTELS & RESORTS, INC.HST

HOST HOTELS & RESORTS, INC. Segments Disclosure

10-KFiled Feb 25, 20263 min read
Geographic and Business Segment Information
Our chief operating decision maker ("CODM") is our chief executive officer. We consider each one of our hotels to be an operating segment, as we allocate resources and assess operating performance based on individual hotels. All of our hotels meet the aggregation criteria for segment reporting and our other real estate investment activities (primarily our condominium sales, equity method investments, retail spaces and office buildings) are immaterial. As such, we report one segment: hotel ownership. Our consolidated foreign operations consist of hotels in two countries as of December 31, 2025. There were no intersegment sales during the periods presented. The following table presents revenues and long-lived assets for each of the geographical areas in which we operate (in millions):
202520242023
RevenuesProperty and
Equipment, net		RevenuesProperty and
Equipment, net		RevenuesProperty and
Equipment, net
United States $6,010 $10,575 $5,583 $10,852 $5,219 $9,556 
Brazil 28 30 26 27 22 35 
Canada 76 31 75 27 70 33 
Total $6,114 $10,636 $5,684 $10,906 $5,311 $9,624 
The CODM's primary measure of performance for our reportable segment is Earnings Before Interest Expense, Income Taxes, Depreciation and Amortization ("EBITDA"). The CODM uses EBITDA to analyze how profitable a hotel is, including reviewing how each department at the hotel performed, in comparison to budget and in comparison to prior year performance, when making capital allocation decisions. We do not allocate corporate level income and expenses to segments. Our CODM does not use asset book values in assessing performance or allocating resources for our operating segments and therefore this information is not disclosed.
The following table presents revenues, significant expenses, and EBITDA for our reportable segment (in millions):
202520242023
Hotel OwnershipTotalHotel OwnershipTotalHotel OwnershipTotal
Revenues
Rooms$3,608 $3,608 $3,426 $3,426 $3,244 $3,244 
Food and beverage1,803 1,803 1,716 1,716 1,582 1,582 
Other604 604 542 542 485 485 
Condominium sales99 99 — — — — 
Total revenues 6,114 6,114 5,684 5,684 5,311 5,311 
Expenses
Rooms906 906 849 849 787 787 
Food and beverage1,224 1,224 1,137 1,137 1,042 1,042 
Other departmental and support expenses1,466 1,466 1,383 1,383 1,280 1,280 
Management fees262 262 254 254 249 249 
Other property-level expenses426 426 411 411 383 383 
Cost of goods sold80 80 — — — — 
Other segment items⁽¹⁾(24)(24)(40)(40)(83)(83)
Segment EBITDA1,774 1,774 1,690 1,690 1,653 1,653 
Adjustments and reconciling items:
Depreciation and amortization(795)(762)(697)
Corporate and other expenses(124)(123)(132)
Net gain on property insurance settlements— 70 3 
Interest income32 54 75 
Interest expense(235)(215)(191)
Other gains148 — 71 
Equity in earnings of affiliates18 7 6 
Provision for income taxes(42)(14)(36)
Consolidated Net Income$776 $707 $752 
Capital Expenditures$644 $644 $548 $548 $646 $646 
_____________
(1)Other segment items consist of gain on business interruption proceeds. This amount, combined with net gain on property insurance settlements, make up the amount of net gain on insurance settlements on our consolidated statements of operations.

Historical Timeline

Fiscal YearFiled
2025Feb 25, 2026Showing above
2024Feb 26, 2025
2023Feb 28, 2024
2022Feb 22, 2023
2021Feb 24, 2022
2020Feb 25, 2021
2019Feb 25, 2020
2018Feb 26, 2019
2017Feb 27, 2018
2016Feb 24, 2017
2015Feb 22, 2016

About Segments Disclosures

Segment disclosures break a company into its reportable operating units, revealing revenue, profit, and asset allocation that consolidated financial statements obscure. Under ASC 280, segments must match how the chief operating decision maker views the business, providing a window into internal management structure and resource allocation priorities.

Key signals: compare segment margins to identify which units drive profitability and which destroy value. Watch for changes in the number of reportable segments — segment aggregation or disaggregation often coincides with strategic shifts or attempts to obscure declining performance. Intersegment elimination patterns reveal internal pricing practices. The reconciliation between segment totals and consolidated figures exposes corporate overhead allocation and unallocated items. Geographic revenue concentration highlights regulatory and currency exposure. Compare segment-level capital expenditure against segment revenue to assess where management is investing for future growth versus harvesting existing assets.

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