Item 16. Form 10‑K Summary
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Item 16. Form 10‑K Summary
None.
SIGNATURES
Pursuant to the requirements of Section 13 or 15(d) of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
| HOST HOTELS & RESORTS, INC. | ||||
| Date: February 22, 2023 | By: | /s/ SOURAV GHOSH | ||
| Sourav Ghosh Executive Vice President and Chief Financial Officer |
Pursuant to the requirements of the Securities Exchange Act of 1934, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.
| Signatures | Title | Date | ||
| /s/ RICHARD E. MARRIOTT | Chairman of the Board of Directors | February 22, 2023 | ||
| Richard E. Marriott | ||||
| /s/ JAMES F. RISOLEO | President, Chief Executive Officer and Director (Principal Executive Officer) | February 22, 2023 | ||
| James F. Risoleo | ||||
| /s/ SOURAV GHOSH | Executive Vice President and Chief Financial Officer (Principal Financial Officer) | February 22, 2023 | ||
| Sourav Ghosh | ||||
| /s/ JOSEPH C. OTTINGER | Senior Vice President, Corporate Controller (Principal Accounting Officer) | February 22, 2023 | ||
| Joseph C. Ottinger | ||||
| /s/ MARY L. BAGLIVO | Director | February 22, 2023 | ||
| Mary L. Baglivo | ||||
| /s/ HERMAN E. BULLS | Director | February 22, 2023 | ||
| Herman E. Bulls | ||||
| /s/ DIANA M. LAING | Director | February 22, 2023 | ||
| Diana M. Laing | ||||
| /s/ Mary Hogan Preusse | Director | February 22, 2023 | ||
| Mary Hogan Preusse | ||||
| /s/ WALTER C. RAKOWICH | Director | February 22, 2023 | ||
| Walter C. Rakowich | ||||
| /s/ GORDON H. SMITH | Director | February 22, 2023 | ||
| Gordon H. Smith | ||||
| /s/ A. WILLIAM STEIN | Director | February 22, 2023 | ||
| A. William Stein | ||||
SIGNATURES
Pursuant to the requirements of Section 13 or 15(d) of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
| HOST HOTELS & RESORTS, L.P. | ||||
| Date: February 22, 2023 | By: | HOST HOTELS & RESORTS, INC., its general partner | ||
| By: | /s/ SOURAV GHOSH | |||
| Sourav Ghosh Executive Vice President and Chief Financial Officer |
Pursuant to the requirements of the Securities Exchange Act of 1934, this report has been signed below by the following officers and directors of Host Hotels & Resorts, Inc., the general partner of the registrant, and in the capacities and on the dates indicated.
| Signatures | Title | Date | |||||
| /s/ RICHARD E. MARRIOTT | Chairman of the Board of Directors | February 22, 2023 | |||||
| Richard E. Marriott | |||||||
| /s/ JAMES F. RISOLEO | President, Chief Executive Officer and Director (Principal Executive Officer) | February 22, 2023 | |||||
| James F. Risoleo | |||||||
| /s/ SOURAV GHOSH | Executive Vice President and Chief Financial Officer (Principal Financial Officer) | February 22, 2023 | |||||
| Sourav Ghosh | |||||||
| /s/ JOSEPH C. OTTINGER | Senior Vice President, Corporate Controller (Principal Accounting Officer) | February 22, 2023 | |||||
| Joseph C. Ottinger | |||||||
| /s/ MARY L. BAGLIVO | Director | February 22, 2023 | |||||
| Mary L. Baglivo | |||||||
| /s/ HERMAN E. BULLS | Director | February 22, 2023 | |||||
| Herman E. Bulls | |||||||
| /s/ DIANA M. LAING | Director | February 22, 2023 | |||||
| Diana M. Laing | |||||||
| /s/ Mary Hogan Preusse | Director | February 22, 2023 | |||||
| Mary Hogan Preusse | |||||||
| /s/ WALTER C. RAKOWICH | Director | February 22, 2023 | |||||
| Walter C. Rakowich | |||||||
| /s/ GORDON H. SMITH | Director | February 22, 2023 | |||||
| Gordon H. Smith | |||||||
| /s/ A. WILLIAM STEIN | Director | February 22, 2023 | |||||
| A. William Stein | |||||||
SCHEDULE III
Page 1 of 5
HOST HOTELS & RESORTS, INC., HOST HOTELS & RESORTS, L.P., AND SUBSIDIARIES
REAL ESTATE AND ACCUMULATED DEPRECIATION
December 31, 2022
(in millions)
S-1
SCHEDULE III
Page 2 of 5
| Initial Cost | Subsequent | Foreign | Gross Amount at December 31, 2022 | Date of | ||||||||||||||||||||||||||||||||||||||||||
| Buildings & | Costs | Currency | Buildings & | Accumulated | Completion of | Date | Depreciation | |||||||||||||||||||||||||||||||||||||||
| Description | Debt | Land | Improvements | Capitalized, net ⁽¹⁾ | Adjustment | Land | Improvements | Total | Depreciation | Construction | Acquired | Life | ||||||||||||||||||||||||||||||||||
| Hotels: | ||||||||||||||||||||||||||||||||||||||||||||||
| 1 Hotel South Beach | — | 182 | 443 | 11 | — | 182 | 454 | 636 | 63 | — | 2019 | 34 | ||||||||||||||||||||||||||||||||||
| AC Hotel Scottsdale North | — | 4 | 31 | — | — | 4 | 31 | 35 | 3 | 2020 | — | 31 | ||||||||||||||||||||||||||||||||||
| Alila Ventana Big Sur | — | 40 | 104 | 2 | — | 40 | 106 | 146 | 5 | — | 2021 | 31 | ||||||||||||||||||||||||||||||||||
| Andaz Maui at Wailea Resort | — | 151 | 255 | 53 | — | 151 | 308 | 459 | 42 | — | 2018 | 38 | ||||||||||||||||||||||||||||||||||
| Axiom Hotel | — | 36 | 38 | 41 | — | 36 | 79 | 115 | 26 | — | 2014 | 33 | ||||||||||||||||||||||||||||||||||
| Baker's Cay Resort Key Largo, Curio Collection by Hilton | — | 80 | 117 | 1 | — | 80 | 118 | 198 | 6 | — | 2021 | 33 | ||||||||||||||||||||||||||||||||||
| Boston Marriott Copley Place | — | — | 203 | 99 | — | — | 302 | 302 | 158 | — | 2002 | 40 | ||||||||||||||||||||||||||||||||||
| Calgary Marriott Downtown Hotel | — | 5 | 18 | 48 | (5 | ) | 5 | 61 | 66 | 48 | — | 1996 | 40 | |||||||||||||||||||||||||||||||||
| Coronado Island Marriott Resort & Spa | — | — | 53 | 58 | — | — | 111 | 111 | 78 | — | 1997 | 40 | ||||||||||||||||||||||||||||||||||
| Denver Marriott Tech Center | — | 6 | 26 | 85 | — | 6 | 111 | 117 | 84 | — | 1994 | 40 | ||||||||||||||||||||||||||||||||||
| Denver Marriott West | — | — | 12 | 18 | — | — | 30 | 30 | 27 | — | 1983 | 40 | ||||||||||||||||||||||||||||||||||
| Embassy Suites by Hilton Chicago Downtown Magnificent Mile | — | — | 86 | 19 | — | — | 105 | 105 | 56 | — | 2004 | 40 | ||||||||||||||||||||||||||||||||||
| Fairmont Kea Lani, Maui | — | 55 | 294 | 130 | — | 55 | 424 | 479 | 204 | — | 2004 | 40 | ||||||||||||||||||||||||||||||||||
| Four Seasons Resort Orlando at Walt Disney World® Resort | — | 91 | 510 | 6 | — | 91 | 516 | 607 | 28 | — | 2021 | 37 | ||||||||||||||||||||||||||||||||||
| Four Seasons Resort and Residence Jackson Hole | — | 59 | 245 | — | — | 59 | 245 | 304 | 1 | — | 2022 | 35 | ||||||||||||||||||||||||||||||||||
| Gaithersburg Marriott Washingtonian Center | — | 7 | 22 | 15 | — | 7 | 37 | 44 | 29 | — | 1993 | 40 | ||||||||||||||||||||||||||||||||||
| Grand Hyatt Atlanta in Buckhead | — | 8 | 88 | 33 | — | 8 | 121 | 129 | 80 | — | 1998 | 40 | ||||||||||||||||||||||||||||||||||
| Grand Hyatt San Francisco | — | 52 | 331 | 4 | — | 52 | 335 | 387 | 55 | — | 2018 | 34 | ||||||||||||||||||||||||||||||||||
| Grand Hyatt Washington | — | 154 | 247 | 45 | — | 154 | 292 | 446 | 125 | — | 2012 | 33 | ||||||||||||||||||||||||||||||||||
| Hilton Singer Island Oceanfront/Palm Beaches Resort | — | 2 | 10 | 23 | — | 2 | 33 | 35 | 28 | — | 1994 | 40 | ||||||||||||||||||||||||||||||||||
| Hotel Van Zandt | 102 | 58 | 179 | 1 | — | 58 | 180 | 238 | 6 | — | 2021 | 34 |
S-2
SCHEDULE III
Page 3 of 5
| Houston Airport Marriott at George Bush Intercontinental | — | — | 10 | 94 | — | — | 104 | 104 | 90 | — | 1984 | 40 | |||||||||||||||||||||||||||||||||
| Houston Marriott Medical Center/Museum District | — | — | 19 | 45 | — | — | 64 | 64 | 46 | — | 1998 | 40 | |||||||||||||||||||||||||||||||||
| Hyatt Place Waikiki Beach | — | 12 | 120 | 4 | — | 12 | 124 | 136 | 42 | — | 2013 | 34 | |||||||||||||||||||||||||||||||||
| Hyatt Regency Austin | — | 19 | 139 | 2 | — | 19 | 141 | 160 | 9 | — | 2021 | 33 | |||||||||||||||||||||||||||||||||
| Hyatt Regency Coconut Point Resort and Spa | — | 33 | 185 | — | — | 33 | 185 | 218 | 31 | — | 2018 | 36 |
S-3
SCHEDULE III
Page 4 of 5
HOST HOTELS & RESORTS, INC., HOST HOTELS & RESORTS, L.P., AND SUBSIDIARIES
REAL ESTATE AND ACCUMULATED DEPRECIATION (continued)
December 31, 2022
(in millions)
S-4
SCHEDULE III
Page 5 of 5
| Initial Cost | Subsequent | Foreign | Gross Amount at December 31, 2022 | Date of | ||||||||||||||||||||||||||||||||||||||||||
| Buildings & | Costs | Currency | Buildings & | Accumulated | Completion of | Date | Depreciation | |||||||||||||||||||||||||||||||||||||||
| Description | Debt | Land | Improvements | Capitalized, net ⁽¹⁾ | Adjustment | Land | Improvements | Total | Depreciation | Construction | Acquired | Life | ||||||||||||||||||||||||||||||||||
| Hyatt Regency Maui Resort and Spa | — | 92 | 212 | 157 | — | 81 | 380 | 461 | 191 | — | 2003 | 40 | ||||||||||||||||||||||||||||||||||
| Hyatt Regency Reston | — | 11 | 78 | 31 | — | 12 | 108 | 120 | 72 | — | 1998 | 40 | ||||||||||||||||||||||||||||||||||
| Hyatt Regency San Francisco Airport | — | 16 | 119 | 112 | — | 20 | 227 | 247 | 152 | — | 1998 | 40 | ||||||||||||||||||||||||||||||||||
| Hyatt Regency Washington on Capitol Hill | — | 40 | 230 | 51 | — | 40 | 281 | 321 | 143 | — | 2005 | 40 | ||||||||||||||||||||||||||||||||||
| JW Marriott Atlanta Buckhead | — | 16 | 21 | 40 | — | 16 | 61 | 77 | 41 | — | 1990 | 40 | ||||||||||||||||||||||||||||||||||
| JW Marriott Hotel Rio de Janeiro | — | 13 | 29 | 5 | (31 | ) | 4 | 12 | 16 | 5 | — | 2010 | 40 | |||||||||||||||||||||||||||||||||
| JW Marriott Houston by the Galleria | — | 4 | 26 | 60 | — | 6 | 84 | 90 | 60 | — | 1994 | 40 | ||||||||||||||||||||||||||||||||||
| JW Marriott Washington, DC | — | 26 | 98 | 72 | — | 26 | 170 | 196 | 118 | — | 2003 | 40 | ||||||||||||||||||||||||||||||||||
| Manchester Grand Hyatt San Diego | — | — | 548 | 76 | — | — | 624 | 624 | 278 | — | 2011 | 35 | ||||||||||||||||||||||||||||||||||
| Marina del Rey Marriott | — | — | 13 | 46 | — | — | 59 | 59 | 36 | — | 1995 | 40 | ||||||||||||||||||||||||||||||||||
| Marriott Downtown at CF Toronto Eaton Centre | — | — | 27 | 37 | (4 | ) | — | 60 | 60 | 44 | — | 1995 | 40 | |||||||||||||||||||||||||||||||||
| Marriott Marquis San Diego Marina | — | — | 202 | 418 | — | — | 620 | 620 | 422 | — | 1996 | 40 | ||||||||||||||||||||||||||||||||||
| Miami Marriott Biscayne Bay | — | 38 | 27 | 73 | — | 38 | 100 | 138 | 61 | — | 1998 | 40 | ||||||||||||||||||||||||||||||||||
| Minneapolis Marriott City Center | — | 34 | 27 | 48 | — | 35 | 74 | 109 | 58 | — | 1995 | 40 | ||||||||||||||||||||||||||||||||||
| New Orleans Marriott | — | 16 | 96 | 158 | — | 16 | 254 | 270 | 193 | — | 1996 | 40 | ||||||||||||||||||||||||||||||||||
| New York Marriott Downtown | — | 19 | 79 | 55 | — | 19 | 134 | 153 | 93 | — | 1997 | 40 | ||||||||||||||||||||||||||||||||||
| New York Marriott Marquis | — | 49 | 552 | 128 | — | 49 | 680 | 729 | 555 | — | 1986 | 40 | ||||||||||||||||||||||||||||||||||
| Newark Liberty International Airport Marriott | — | — | 30 | 49 | — | — | 79 | 79 | 67 | — | 1984 | 40 | ||||||||||||||||||||||||||||||||||
| Orlando World Center Marriott | — | 18 | 157 | 499 | — | 29 | 645 | 674 | 370 | — | 1997 | 40 | ||||||||||||||||||||||||||||||||||
| Philadelphia Airport Marriott | — | — | 42 | 24 | — | — | 66 | 66 | 48 | — | 1995 | 40 | ||||||||||||||||||||||||||||||||||
| Rio de Janeiro Parque Olimpico Hotels | — | 21 | 39 | 1 | (36 | ) | 8 | 17 | 25 | 6 | 2014 | — | 35 | |||||||||||||||||||||||||||||||||
| San Antonio Marriott Rivercenter | — | — | 86 | 108 | — | — | 194 | 194 | 119 | — | 1996 | 40 | ||||||||||||||||||||||||||||||||||
| San Antonio Marriott Riverwalk | — | 6 | 45 | 41 | — | 6 | 86 | 92 | 64 | — | 1995 | 40 | ||||||||||||||||||||||||||||||||||
| San Francisco Marriott Fisherman's Wharf | — | 6 | 20 | 35 | — | 6 | 55 | 61 | 43 | — | 1994 | 40 |
S-5
SCHEDULE III
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| San Francisco Marriott Marquis | — | — | 278 | 194 | — | — | 472 | 472 | 345 | — | 1989 | 40 | |||||||||||||||||||||||||||||||||
| Santa Clara Marriott | — | — | 39 | 83 | — | — | 122 | 122 | 99 | — | 1989 | 40 | |||||||||||||||||||||||||||||||||
| Sheraton Parsippany Hotel | — | 8 | 30 | 17 | — | 8 | 47 | 55 | 34 | — | 2006 | 40 |
S-6
SCHEDULE III
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HOST HOTELS & RESORTS, INC., HOST HOTELS & RESORTS, L.P., AND SUBSIDIARIES
REAL ESTATE AND ACCUMULATED DEPRECIATION (continued)
December 31, 2022
(in millions)
| Initial Cost | Subsequent | Foreign | Gross Amount at December 31, 2022 | Date of | ||||||||||||||||||||||||||||||||||||||||||
| Buildings & | Costs | Currency | Buildings & | Accumulated | Completion of | Date | Depreciation | |||||||||||||||||||||||||||||||||||||||
| Description | Debt | Land | Improvements | Capitalized, net ⁽¹⁾ | Adjustment | Land | Improvements | Total | Depreciation | Construction | Acquired | Life | ||||||||||||||||||||||||||||||||||
| Swissôtel Chicago | — | 29 | 132 | 99 | — | 30 | 230 | 260 | 137 | — | 1998 | 40 | ||||||||||||||||||||||||||||||||||
| Tampa Airport Marriott | — | — | 9 | 29 | — | — | 38 | 38 | 33 | — | 1971 | 40 | ||||||||||||||||||||||||||||||||||
| The Alida, Savannah, a Tribute Portfolio Hotel | — | 6 | 96 | — | — | 6 | 96 | 102 | 3 | — | 2021 | 36 | ||||||||||||||||||||||||||||||||||
| The Camby Hotel | — | 10 | 63 | 32 | — | 10 | 95 | 105 | 66 | — | 1998 | 40 | ||||||||||||||||||||||||||||||||||
| The Don CeSar | — | 46 | 158 | 39 | — | 46 | 197 | 243 | 44 | — | 2017 | 34 | ||||||||||||||||||||||||||||||||||
| The Laura Hotel | — | 9 | 55 | — | — | 9 | 55 | 64 | 3 | — | 2021 | 33 | ||||||||||||||||||||||||||||||||||
| The Logan | — | 26 | 60 | 73 | — | 27 | 132 | 159 | 91 | — | 1998 | 40 | ||||||||||||||||||||||||||||||||||
| The Phoenician, A Luxury Collection Resort | — | 59 | 307 | 110 | — | 58 | 418 | 476 | 145 | — | 2015 | 32 | ||||||||||||||||||||||||||||||||||
| The Ritz-Carlton Golf Resort, Naples | — | 22 | 10 | 101 | — | 22 | 111 | 133 | 57 | 2002 | — | 40 | ||||||||||||||||||||||||||||||||||
| The Ritz-Carlton, Amelia Island | — | 25 | 115 | 104 | — | 25 | 219 | 244 | 134 | — | 1998 | 40 | ||||||||||||||||||||||||||||||||||
| The Ritz-Carlton, Marina del Rey | — | — | 52 | 40 | — | — | 92 | 92 | 69 | — | 1997 | 40 | ||||||||||||||||||||||||||||||||||
| The Ritz-Carlton, Naples | — | 19 | 126 | 189 | — | 21 | 313 | 334 | 221 | — | 1996 | 40 | ||||||||||||||||||||||||||||||||||
| The Ritz-Carlton, Tysons Corner | — | — | 89 | 45 | — | — | 134 | 134 | 87 | — | 1998 | 40 | ||||||||||||||||||||||||||||||||||
| The St. Regis Houston | — | 6 | 33 | 23 | — | 6 | 56 | 62 | 33 | — | 2006 | 40 | ||||||||||||||||||||||||||||||||||
| The Westin Chicago River North | — | 33 | 116 | 25 | — | 33 | 141 | 174 | 51 | — | 2010 | 40 | ||||||||||||||||||||||||||||||||||
| The Westin Cincinnati | — | — | 54 | 22 | — | — | 76 | 76 | 40 | — | 2006 | 40 | ||||||||||||||||||||||||||||||||||
| The Westin Denver Downtown | — | — | 89 | 24 | — | — | 113 | 113 | 57 | — | 2006 | 40 | ||||||||||||||||||||||||||||||||||
| The Westin Georgetown, Washington D.C. | — | 16 | 80 | 22 | — | 16 | 102 | 118 | 51 | — | 2006 | 40 | ||||||||||||||||||||||||||||||||||
| The Westin Kierland Resort & Spa | — | 100 | 280 | 43 | — | 100 | 323 | 423 | 140 | — | 2006 | 40 | ||||||||||||||||||||||||||||||||||
| The Westin Seattle | — | 39 | 175 | 51 | — | 39 | 226 | 265 | 111 | — | 2006 | 40 | ||||||||||||||||||||||||||||||||||
| The Westin South Coast Plaza, Costa Mesa | — | — | 46 | 25 | — | — | 71 | 71 | 62 | — | 2006 | 40 | ||||||||||||||||||||||||||||||||||
| The Westin Waltham Boston | — | 9 | 59 | 22 | — | 9 | 81 | 90 | 44 | — | 2006 | 40 | ||||||||||||||||||||||||||||||||||
| W Seattle | — | 11 | 125 | 15 | — | 11 | 140 | 151 | 63 | — | 2006 | 40 | ||||||||||||||||||||||||||||||||||
| Washington Marriott at Metro Center | — | 20 | 24 | 33 | — | 20 | 57 | 77 | 46 | — | 1994 | 40 | ||||||||||||||||||||||||||||||||||
| Total hotels: | 102 | 1,972 | 9,288 | 4,621 | (76 | ) | 1,961 | 13,844 | 15,805 | 6,875 | ||||||||||||||||||||||||||||||||||||
| Other properties, each less than 5% of total | — | 59 | 1 | 4 | — | 59 | 5 | 64 | 1 | — | Various | 40 | ||||||||||||||||||||||||||||||||||
| TOTAL | $ | 102 | $ | 2,031 | $ | 9,289 | $ | 4,625 | $ | (76 | ) | $ | 2,020 | $ | 13,849 | $ | 15,869 | $ | 6,876 |
(1) Subsequent costs capitalized are net of impairment expense.
S-7
SCHEDULE III
Page 8 of 5
HOST HOTELS & RESORTS, INC., AND SUBSIDIARIES
HOST HOTELS & RESORTS, L.P., AND SUBSIDIARIES
REAL ESTATE AND ACCUMULATED DEPRECIATION
December 31, 2022
(in millions)
Notes:
(A) The change in total cost of properties for the fiscal years ended December 31, 2022, 2021 and 2020 is as follows:
| Balance at December 31, 2019 | $ | 15,370 | ||
| Additions: | ||||
| Capital expenditures and transfers from construction-in-progress | 446 | |||
| Deductions: | ||||
| Dispositions and other | (174 | ) | ||
| Balance at December 31, 2020 | 15,642 | |||
| Additions: | ||||
| Acquisitions | 1,563 | |||
| Capital expenditures and transfers from construction-in-progress | 231 | |||
| Deductions: | ||||
| Dispositions and other | (954 | ) | ||
| Assets held for sale | (444 | ) | ||
| Impairments | (92 | ) | ||
| Balance at December 31, 2021 | 15,946 | |||
| Additions: | ||||
| Acquisitions | 303 | |||
| Capital expenditures and transfers from construction-in-progress | 314 | |||
| Deductions: | ||||
| Dispositions and other | (694 | ) | ||
| Balance at December 31, 2022 | $ | 15,869 |
S-8
SCHEDULE III
Page 9 of 5
(B) The change in accumulated depreciation and amortization of real estate assets for the fiscal years ended December 31, 2022, 2021 and 2020 is as follows:
| Balance at December 31, 2019 | $ | 6,364 | ||
| Depreciation and amortization | 541 | |||
| Dispositions and other | (96 | ) | ||
| Balance at December 31, 2020 | 6,809 | |||
| Depreciation and amortization | 554 | |||
| Dispositions and other | (555 | ) | ||
| Assets held for sale | (182 | ) | ||
| Balance at December 31, 2021 | 6,626 | |||
| Depreciation and amortization | 550 | |||
| Dispositions and other | (300 | ) | ||
| Balance at December 31, 2022 | $ | 6,876 |
(C) The aggregate cost of real estate for federal income tax purposes is approximately $9,890 million at December 31, 2022.
(D) The total cost of properties excludes construction-in-progress assets.
S-9
Previous: Item 15. Exhibits and Financial Statement Schedules.