Jim Risoleo, president and CEO of Host Hotels & Resorts, Inc. (Nasdaq: HST), participated in a video interview in conjunction with Nareit’s REITweek: 2022 Investor Conference in New York travel on June 7-9.
Risoleo described some of the steps that Host took last year to improve its portfolio. He noted that Host deployed $1.6 billion in 2021, and that the assets are all performing “well ahead of our proforma.”
The REIT also disposed of about $1.4 billion of hotels last year and into 2022. “It’s a continuation of a strategy that began in 2017 when I became CEO, with a quest to really elevate the EBITDA growth profile of Host. We’ve made great progress,” he said.
According to Risoleo, Host is in “the best position that we’ve ever been in.”
Meanwhile, Risoleo said the operational recovery within the lodging industry has been “pretty incredible,” and is being led by leisure travelers. A pickup in business transient and group travel is also happening, which is “very encouraging,” he added.
Risoleo also commented on Host’s strategic partnership with Noble Investment Group, which he said, “gives Host the opportunity to invest in select service assets without clouding the story of who we are.”
