BETHESDA, Md., Feb. 10, 2021 (GLOBE NEWSWIRE) -- Host Hotels & Resorts, Inc. (NASDAQ: HST), the nation's largest lodging real estate investment trust (the “Company”), announced today that it completed a second amendment to the credit agreement governing its $1.5 billion revolving credit facility and two $500 million term loans.
Sourav Ghosh, Executive Vice President, Chief Financial Officer and Treasurer, said, “We obtained new industry-leading amendment terms that provide continued covenant relief while significantly enhancing our flexibility to capitalize on investment opportunities that can create long-term value for our stakeholders. We greatly appreciate the strong, longstanding partnership demonstrated by our banks and their continued recognition of the Company’s superior balance sheet and liquidity position as well as its disciplined capital allocation track record – attributes that we believe will positively differentiate Host through the lodging recovery.”
Key terms of the second amendment to the credit agreement include:
Notably, the Company did not incur any increases in pricing through this amendment. In addition, the Company also continued to preserve the fully unsecured status of its 80 consolidated assets.
For additional information on the terms of the second amendment to the credit agreement, please refer to the presentation titled “Enhancing Financial Flexibility” located in the investor section of the Company’s website.
About Host Hotels & Resorts
Host Hotels & Resorts, Inc. is an S&P 500 company and is the largest lodging real estate investment trust and one of the largest owners of luxury and upper-upscale hotels. The Company currently owns 75 properties in the United States and five properties internationally totaling approximately 46,300 rooms. The Company also holds non-controlling interests in six domestic and one international joint ventures. Guided by a disciplined approach to capital allocation and aggressive asset management, the Company partners with premium brands such as Marriott®, Ritz-Carlton®, Westin®, Sheraton®, W®, St. Regis®, The Luxury Collection®, Hyatt®, Fairmont®, Hilton®, Swissôtel®, ibis® and Novotel®, as well as independent brands. For additional information, please visit the Company’s website at www.hosthotels.com.
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SOURAV GHOSHChief Financial Officer (240) 744-5267
TEJAL ENGMAN Investor Relations (240) 744-5116 ir@hosthotels.com
Source: Host Hotels & Resorts, Inc.