Host Hotels and Resorts
Headquarters: 6903 Rockledge Dr., Suite 1500
Bethesda, MD 20817
CEO: Edward Walter
Stock Symbol: HST
Host Hotels & Resorts, Inc. is an S&P 500 and Fortune 500 company and is the largest lodging real estate investment trust. It is also one of the largest owners of luxury and upper-upscale hotels.
The Company currently owns 99 properties in the United States and 15 properties internationally, totaling approximately 60,000 rooms. The Company also holds non-controlling interests in five joint ventures, including one in Europe that owns 19 hotels with approximately 6,400 rooms and one in Asia that has interests in three hotels in Australia and India.
The Company has properties with various hotel brands including Marriott, Ritz-Carlton , Westin, Sheraton, W , St. Regis, Le Méridien, The Luxury Collection, Hyatt , Fairmont, Four Seasons, Hilton, Swissôtel, ibis, Pullman, and Novotel in the operation of properties in over 50 major markets worldwide.
In 2013, the company reported revenues of $5.16 billion, up from $5.0 billion, and net income of $325 million.
On January 21, 2014, the Company acquired the 151-room Powell Hotel in San Francisco, along with 8,554 square feet of retail space, and the fee simple interest in the land for $75 million. The property is located in the heart of downtown San Francisco, two blocks from Union Square and three blocks from the Moscone Convention Center.
In 1927, J. Willard Marriott marries Alice Sheets in Salt Lake City, UT, and moves to Washington DC with his new bride. That spring, J. Willard and Alice open a nine-stool A&W Root Beer stand, which they later call "The Hot Shoppe."
The Hot Shoppe would expand with more locations and began offering catering services to airlines in 1937 and landed a food-services contract in 1939 with the U.S. Treasury.
In 1957, Marriott opened its first hotel, The Twin Bridges Motor Hotel, in Arlington, VA. In 1953, the company went public.
By 1967, the company name was changed to Marriott Corporation from Hot Shoppes Inc.
In 1993, the company splits its hotel and real estate/food businesses into Marriott International and Host Marriott Corporation.
In 1996, Host Marriott divides into two separate companies. Host Marriott continues to own lodging real estate; Host Marriott Services Corporation will operate concessions at airports, on toll roads and at sports and entertainment attractions. The company became an REIT in 1999.
In November 2005, Host announced the acquisition of a portfolio of hotels from Starwood Hotels & Resorts Worldwide, Inc. under brand names including Westin, Sheraton, W, St. Regis and The Luxury Collection.
In conjunction with the Starwood transaction, on April 19, 2006, the company changed its name from Host Marriott Corporation to Host Hotels & Resorts, Inc. to reflect its enhanced brand diversity.
Host Marriott pays the full cost for certain benefits including:
- Life/AD&D Insurance: The Company provides Life and Accidental Death and Dismemberment (AD&D) coverage equal to your annual salary (up to a maximum benefit amount of $700,000 that includes any Optional Life/AD&D you may elect).
- Short-Term Disability coverage replaces up to 60% of your salary for 12 weeks of disability with a maximum weekly benefit of $2,250.
- Long-Term Disability coverage replaces up to 60% of your salary if you remain disabled after your STD benefits end. The maximum monthly benefit is $10,000.
- Business Travel Accident Insurance: The benefit equals $100,000 if you earn less than $30,000; or $250,000 if you earn $30,000 or more. The amount of coverage is doubled if you are traveling internationally.
- Paid Time Off may be used for sickness, vacation, unpaid holidays or other personal reasons. Twenty (20) days per year for up to 5 years of service.
- Nine (9) paid holidays per year.
- Free on-site fitness center.
- Associate Assistance Program (AAP): Host Marriott offers an AAP to provide you and your immediate family members help with issues concerning health, work, finances or other personal concerns.
- Company Paid Parking
The company also partially pays for health, dental and vision insurance.
Eligible associates may also take advantage of:
- Hotel Room Discounts: Associates and their immediate family members are eligible for discounted room rates at participating Marriott lodging properties.
- Tuition Assistance: Available after one (1) year of service. 90% of costs up to $1,900 per year are reimbursed for courses meeting the plan's criteria.
- 401(k) Plan: May contribute up to 20%. Employer matches $.50 of each $1 up to 6%. Additional discretionary match determined annually by Board of Directors.
- Employee Stock Purchase Plan available after one (1) year of service. Associates may purchase stock at a 10% discount.
Updated August 29, 2014