Host Hotels & Resorts Inc http://www.alacrastore.com/company-snapshot/Host_Hotels_Resorts_Inc-1010531 Sunday, October 12, 2008 3:50:31 AM 1010531 Host Hotels & Resorts Inc en AlacraStore RSS Builder 1.0 30 http://www.alacrastore.com/storecontent/cs/73702cs/73702norm Host Hotels #Q## Tearsheet Host Hotels is the largest publicly traded hotel REIT in North America, with a portfolio that is heavily concentrated with Marriott International-flagged brands, such as Marriott and Ritz-Carlton.REIT's have...73702596YesC21Tearsheet529tearsheets/premium119/30/2008 11:06:29 AM15073702Credit & Investment ResearchCreditSightshttp://www.alacrastore.com/storecontent/cs/72476cs/72476norm Lodging Industry: Travelers Stay Put, We Move to Underweight Headlines continue to drag on the lodging sector, putting operators and investors in a defensive position.  From the start of the year, hotel operators are already in the...724762535YesD0Article2118614570510529corphy1149M&A Activity42High Yield21Sector Outlooks7/31/2008 4:05:00 AM150We discuss Lodging trends in the context of our move to Underweight on the sector.72476Credit & Investment ResearchCreditSightshttp://www.alacrastore.com/storecontent/cs/71924cs/71924norm Gaming the Ratings - Rating Agency Hacks At the Sector In its recent negative rating assessments, Moody's cited deteriorating operating conditions, high levels of capex, and significant leverage as the reasons for its negative actions.  ...719241412YesD0Article186457017321935211819761733510529614corphy1142High Yield7/21/2008 10:05:14 PM150We discuss the recent negative credit rating assessments in the Gaming sector, and review the potential further rating risks among credits in both Gaming and Lodging.71924Credit & Investment ResearchCreditSightshttp://www.alacrastore.com/storecontent/cs/71742cs/71742norm Host Hotels: #Q## Results - Business Travel Outlook Strains RevPAR Guidance Host Hotels & Resorts reported fiscal #Q## revenue of $#.## billion and adjusted EBITDA of $### million, both up #% y-o-y.  The breakeven point on margins...717421489YesD0Article529corphy112868Earnings Reports - Industrials/Consumer42High Yield7/17/2008 2:11:00 AM150Host Hotels reported a stable quarter, which masks the challenges in the outlook. While downward revisions will likely pervade this earnings season, we see HST as well-positioned among the REITS with a manageable maturity calendar.71742Credit & Investment ResearchCreditSightshttp://www.alacrastore.com/storecontent/cs/66697cs/66697norm Host Hotels #Q## Tearsheet Host Hotels is the largest publicly traded hotel REIT in North America, with a portfolio that is heavily concentrated with Marriott International-flagged brands, such as Marriott and Ritz-Carlton.The company...66697593YesC21Tearsheet529tearsheets/premium117/8/2008 11:06:20 AM15066697Credit & Investment ResearchCreditSightshttp://www.alacrastore.com/storecontent/cs/70247cs/70247norm Themes From the #### NYU Lodging Conference - Anywhere But Here The industry conference was generally more confident than we would have expected given the operational headwinds in the U.S. and the illiquid financing markets. Supply...702472647YesD0Article6145702118529510corphy1121Sector Outlooks6/5/2008 3:05:00 AM150With the credit markets chilled and the weakened operating outlook in the U.S., much of the optimism at the 30th NYU Hospitality Conference was focused on growth abroad. We review the key themes from the conference.70247Credit & Investment ResearchCreditSightshttp://www.alacrastore.com/storecontent/fitch/384762_report_framefitch/384762_report_framepdfFitch Ratings is a leading global rating agency committed to providing the world's credit markets with independent, timely and prospective credit opinions. Built on a foundation of organic growth and strategic acquisitions, Fitch Ratings has grown rapidly during the past decade gaining market presence throughout the world and across all fixed income markets.AMB Property CorporationApartment Investment & Management CoBoston Properties, Inc.BRE Properties, Inc.Camden Property TrustCentro NP LLCColonial Properties TrustDevelopers Diversified Realty CorporationDuke Realty CorporationEastGroup PropertiesEquity Residential Properties TrustGeneral Growth Properties, Inc.HCP, Inc.Health Care REIT, Inc.Healthcare Realty Trust Inc.Highwoods Properties, Inc.Home Properties Inc.Host Hotels & Resorts IncIrvine Apartment Communities, LPiStar Financial Inc.Liberty Property TrustMack-Cali Realty CorporationNational Retail Properties, Inc.Pennsylvania Real Estate Investment TrustProLogisPS Business Parks, Inc.Public Storage, Inc.Realty Income CorporationReckson Operating Partnership, L.P.Regency Centers CorporationSimon Property Group, Inc.Sovran Self Storage, Inc.Thornburg Mortgage Inc.Urstadt Biddle PropertiesVentas, Inc.10100006928008944480089445800894938008990580089924800900788009042680090603800918088009181080091811800918148009181580091816800918228009182580091827800918288009183480091836800921128041062080681518808144028082065180908478812234878164991581945745819515198195257981954939819625408197052183497866839180665/1/2008 2:18:00 PM01000000010102100103000001032100275NewsletterAIVAMBBREBXPCLICLPCPTDDRDREEGPEQRGGPHCNHCPHIWHMEHRHSTLRYNNNOPEIPLDPSAPSBREGSFISPGSSSTMAUBAVTR384762_report_frameCredit & Investment ResearchFitch Researchhttp://www.alacrastore.com/storecontent/cs/68263cs/68263norm Host Hotels: #Q## Results - Occupancy Slips On Hotel Renovations Host Hotels reported #Q## revenues of $#.## billion and adjusted EBITDA of $### million, up #% and #%, respectively, compared to the amounts in the prior year period.  ...682631278YesD0Article529corphy1168Earnings Reports - Industrials/Consumer42High Yield4/24/2008 3:06:00 AM150Host Hotels reported slowing RevPAR compared to 2007, but the balance sheet remained in stable shape. Buybacks may increase leverage, if HST cannot push asset sales through an illiquid hotel M&A market.68263Credit & Investment ResearchCreditSightshttp://www.alacrastore.com/storecontent/fitch/406852_pr_framefitch/406852_pr_framehtmlFitch Ratings is a leading global rating agency committed to providing the world's credit markets with independent, timely and prospective credit opinions. Built on a foundation of organic growth and strategic acquisitions, Fitch Ratings has grown rapidly during the past decade gaining market presence throughout the world and across all fixed income markets.Host Hotels & Resorts Inc839180662/22/2008 2:16:00 PM01010210010300000103210085Press ReleaseHST406852_pr_frameCredit & Investment ResearchFitch Researchhttp://www.alacrastore.com/storecontent/spcred/631726spcred/631726normThe latest News from S&P2/20/2008 10:26:26 PMNews100global631726United StatesSpecialized REIT'sUnited StatesGlobal IssuersCorporationsHotel & GamingNewsNEW YORK (Standard&Poor's) Feb. 20, 2008--Standard&Poor's Ratings Services today revised its rating outlook for Host Hotels&Resorts Inc. to stable from positive. Ratings on the company, including the 'BB' corporate credit rating, were affirmed. "The outlook revision reflects that we are unlikely to raise the rating for Host over the near term due to the possibility that its credit metrics, which as of December 2007 were good for the current rating, will decline to levels more appropriate for the 'BB' rating," said Standard&Poor's credit analyst Emile Courtney. "In 2008, we expect slower growth in the U.S. hotel industry and in Host's portfolio, following years of rapid growth." Also, the company just announced aUSA44107857163044108E44107P40402070 404020 4040 40Host Hotels&Resorts Inc.101434USAHMTNEWSGLOBISSCORPHotelCredit & Investment ResearchS&P Credit Researchhttp://www.alacrastore.com/storecontent/spcred/631727spcred/631727normThe latest Research Update from S&P2/20/2008 10:26:26 PMResearch Update175globalstructured631727United StatesSpecialized REIT'sUnited StatesGlobal IssuersStructured FinanceCorporationsAsset-Backed SecuritiesHotel & GamingResearch UpdateOn Feb. 20, 2008, Standard&Poor's Ratings Services revised its rating outlook for Host Hotels&Resorts Inc. to stable from positive. Ratings on the company, including the 'BB' corporate credit rating, were affirmed. The outlook revision reflects that we are unlikely to raise the rating for Host over the near term due to the possibility that its credit metrics, which as of December 2007 were good for the current rating, will decline to levels more appropriate for the 'BB' rating. In 2008, we expect slower growth in the U.S. hotel industry and in Host's portfolio, following years of rapid growth. Also, the company just announced a $500 million share repurchase authorization, and that it expects to declare anotherUSA44107857163044108E44107P40402070 404020 4040 40Host Hotels&Resorts Inc.101434USAHMTRESUPDUSA40423Q44107T44108E40402070 404020 4040 40Host Hotels&Resorts L.P.301277EMERGINGEUROMIDAFRLATAMERICAUSAHMTGLOBISSSTRUCCORPABSHotelCredit & Investment ResearchS&P Credit Researchhttp://www.alacrastore.com/storecontent/fitch/371144_report_framefitch/371144_report_framepdfFitch Ratings is a leading global rating agency committed to providing the world's credit markets with independent, timely and prospective credit opinions. Built on a foundation of organic growth and strategic acquisitions, Fitch Ratings has grown rapidly during the past decade gaining market presence throughout the world and across all fixed income markets.Agua Caliente Band Of Cahuilla IndiansBally Technologies IncBoyd Gaming CorporationCarnival CorporationHilton Hotels CorporationHost Hotels & Resorts IncMarriott International, Inc.MGM Mirage IncPinnacle Entertainment, Inc.San Manuel Entertainment AuthoritySeminole Tribe of Florida, Inc.Six Flags, Inc.Starwood Hotels & Resorts Worldwide80089632800910768009134880091350801161368036156980417179804963888064091280932679810854548146245881851587819507278229630882571377826122748276914183918066851860732/6/2008 6:32:00 PM010102100103000001030700010321000104000004000000040200000404000004060000250Special ReportBYDBYICCLHOTHSTMARMGMPNKSIX371144_report_frameCredit & Investment ResearchFitch Researchhttp://www.alacrastore.com/storecontent/spcred/623407spcred/623407normThe latest Summary from S&P12/28/2007 6:33:50 PMSummary175globalstructured623407United StatesSpecialized REIT'sUnited StatesGlobal IssuersStructured FinanceCorporationsAsset-Backed SecuritiesCollateralized Debt ObligationsHotel & GamingSummaryThe rating reflects Host Hotels&Resorts Inc.'s aggressive financial profile and, as a real estate investment trust (REIT), its reliance on external sources of capital for growth. These factors are tempered by the company's high-quality and geographically diversified hotel portfolio, high barriers to entry for new competitors because of its hotels' locations (primarily in urban and resort markets or in close proximity to airports), its strong brand relationships, and its experienced management team. Standard&Poor's anticipates operating improvements in Host's hotel portfolio, largely because of continued strength in the lodging operating environment, which we expect to extend through the intermediate term. Average credit measures could improve over time to levels consistent with a higher rating. However, with theUSA44107857163044108E44107P40402070 404020 4040 40Host Hotels&Resorts Inc.101434USAHMTSUMMARYUSA40423Q44107T44108E57163V57190057190325301020 253010 2530 2540402070 404020 4040 40Marriott International Inc.Host Hotels&Resorts L.P.126538301277ASIAEMERGINGEUROMIDAFRLATAMERICAUSAMARHMTGLOBISSSTRUCCORPABSCDOHotelCredit & Investment ResearchS&P Credit Researchhttp://www.alacrastore.com/storecontent/spcred/623403spcred/623403normThe latest Full Report from S&P12/28/2007 6:33:49 PMFull Report400globalstructured623403United StatesSpecialized REIT'sUnited StatesGlobal IssuersStructured FinanceCorporationsAsset-Backed SecuritiesHotel & GamingFull ReportGood-quality portfolio of upper upscale hotels affiliated with strong brands Good geographic diversification Experienced management team Significant liquidity position Highly leveraged balance sheet High distribution requirements associated with the company's REIT structure The rating reflects Host's aggressive financial profile and, as a real estate investment trust (REIT), its reliance on external sources of capital for growth. These factors are tempered by the company's high-quality and geographically diversified hotel portfolio, high barriers to entry for new competitors because of its hotels' locations (primarily in urban and resort markets or in close proximity to airports), its strong brand relationships, and its experienced management team. Standard&Poor's anticipates operating improvements in Host's hotel portfolio, largely because of continued strength in the lodgingUSA44107857163044108E44107P40402070 404020 4040 40Host Hotels&Resorts Inc.101434USAHMTFULLUSA40423Q44107T44108E40402070 404020 4040 40Host Hotels&Resorts L.P.301277EMERGINGEUROMIDAFRLATAMERICAUSAHMTGLOBISSSTRUCCORPABSHotelCredit & Investment ResearchS&P Credit Researchhttp://www.alacrastore.com/storecontent/fitch/394132_pr_framefitch/394132_pr_framehtmlSeminole Tribe of Florida, Inc.SIXHST82296308MAR758008963201030700BYIBoyd Gaming CorporationPNKMGM804963880404000085186073Six Flags, Inc.8391806612/13/2007 10:14:00 AMHOT010400008261227480116136800913508146245804000000MGM Mirage Inc80932679CCL0101021081085454010321008185158782571377Bally Technologies IncPress Release04060000Carnival Corporation80091348Pinnacle Entertainment, Inc.Fitch Ratings is a leading global rating agency committed to providing the world's credit markets with independent, timely and prospective credit opinions. Built on a foundation of organic growth and strategic acquisitions, Fitch Ratings has grown rapidly during the past decade gaining market presence throughout the world and across all fixed income markets.BYD01030000Harrah's Entertainment, Inc.Starwood Hotels & Resorts WorldwideHET80640912San Manuel Entertainment AuthorityMarriott International, Inc.04020000Agua Caliente Band Of Cahuilla IndiansHost Hotels & Resorts Inc81950727394132_pr_frameCredit & Investment ResearchFitch Researchhttp://www.alacrastore.com/storecontent/fitch/349350_report_framefitch/349350_report_framepdfHost Hotels & Resorts IncHost Hotels & Resorts, L.P.839180668391807310/26/2007 2:10:44 PM010102100103000001032100385Full Rating ReportHSTFitch Ratings is a leading global rating agency committed to providing the world's credit markets with independent, timely and prospective credit opinions. Built on a foundation of organic growth and strategic acquisitions, Fitch Ratings has grown rapidly during the past decade gaining market presence throughout the world and across all fixed income markets.349350_report_frameCredit & Investment ResearchFitch Researchhttp://www.alacrastore.com/storecontent/fitch/348034_report_framefitch/348034_report_framepdfBeazer Homes USA, Inc.Burger King CorporationFirst Data CorporationHearst-Argyle Television, Inc.Host Hotels & Resorts IncHost Hotels & Resorts, L.P.Jabil Circuit, Inc.Levi Strauss & Company8008927980089459804171798061323880614229811996898142405483403661839180668391807310/19/2007 4:12:27 PM01010210010300000103010001030200010303000103050001030700010321000103240001040000250NewsletterBZHHSTHTVJBLFitch Ratings is a leading global rating agency committed to providing the world's credit markets with independent, timely and prospective credit opinions. Built on a foundation of organic growth and strategic acquisitions, Fitch Ratings has grown rapidly during the past decade gaining market presence throughout the world and across all fixed income markets.348034_report_frameCredit & Investment ResearchFitch Researchhttp://www.alacrastore.com/storecontent/fitch/376132_pr_framefitch/376132_pr_framehtmlHost Hotels & Resorts IncHost Hotels & Resorts, L.P.839180668391807310/17/2007 6:26:00 PM01010210010300000103210075Press ReleaseHSTFitch Ratings is a leading global rating agency committed to providing the world's credit markets with independent, timely and prospective credit opinions. Built on a foundation of organic growth and strategic acquisitions, Fitch Ratings has grown rapidly during the past decade gaining market presence throughout the world and across all fixed income markets.376132_pr_frameCredit & Investment ResearchFitch Researchhttp://www.alacrastore.com/storecontent/srp/22769srp/22769norm...Address:#### Rockledge Drive, Suite ####, Bethesda, Maryland ##### Incorporated:MarylandWeb Site: www.hosthotels.comSIC Classification: Real Estate Investment Trusts (####) Business Description: Host Hotels & Resorts Inc. is a self-managed and self-administered real estate investment trust that owns full-service luxury and upscale hotel properties. Indices:Fortune ### (####), Russell ####, Russell ####, S&P ### ... 2276944107P104HST10/6/2006 12:31:00 PM22769Credit & Investment ResearchSharkRepellent.net