Host Hotels & Resorts (HST) Q2 2018 Results - Earnings Call Transcript

8/9/18

Host Hotels & Resorts, Inc. (NYSE:HST) Q2 2018 Earnings Call August 8, 2018 11:00 AM ET

Executives

Gee Lingberg - Host Hotels & Resorts, Inc.

James F. Risoleo - Host Hotels & Resorts, Inc.

Michael D. Bluhm - Host Hotels & Resorts, Inc.

Analysts

Rich Allen Hightower - Evercore ISI

Anthony F. Powell - Barclays Capital, Inc.

Michael J. Bellisario - Robert W. Baird & Co., Inc.

Smedes Rose - Citigroup Global Markets, Inc.

Thomas G. Allen - Morgan Stanley & Co. LLC

Chris J. Woronka - Deutsche Bank Securities, Inc.

Shaun C. Kelley - Bank of America Merrill Lynch

Khoa Ngo - Jefferies LLC

Stephen Grambling - Goldman Sachs & Co. LLC

Bill A. Crow - Raymond James & Associates, Inc.

Robin M. Farley - UBS Securities LLC

Jared Shojaian - Wolfe Research LLC

Wes Golladay - RBC Capital Markets LLC

Operator

Good day and welcome to the Host Hotels & Resorts, Incorporated Second Quarter 2018 Earnings Call. Today's conference is being recorded.

At this time, I would like to turn the conference over to Ms. Gee Lingberg, Vice President. Please go ahead, ma'am.

Gee Lingberg - Host Hotels & Resorts, Inc.

Thanks, Jonathan. Good morning, everyone. Welcome to the Host Hotels & Resorts second quarter 2018 earnings call.

Before we begin, I'd like to remind everyone that many of the comments made today are considered to be forward-looking statements under federal securities laws. As described in our filings with the SEC, these statements are subject to numerous risks and uncertainties that could cause future results to differ from those expressed and we are not obligated to publicly update or revise these forward-looking statements.

In addition, on today's call, we will discuss certain non-GAAP financial information, such as FFO, adjusted EBITDAre, and comparable hotel results. You can find this information, together with reconciliations to the most directly comparable GAAP information, in today's earnings press release, in our 8-K filed with the SEC and the supplemental financial information on our website at hosthotels.com.

This morning, Jim Risoleo, our President and Chief Executive Officer, will provide an overview of our second quarter results and our outlook for 2018. Michael Bluhm, our Chief Financial Officer, will then provide details on our second quarter performance by markets, discuss margins and the balance sheet. Following their remarks, we will be available to respond to your questions.

And now, I'd like to turn the call over to Jim.

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