Host Hotels & Resorts ends second quarter with $2.5b of available liquidity

On its second quarter results call on July 31, Host Hotels & Resorts Inc., the nation’s largest lodging REIT, said it has the ability to acquire $1.5 billion of assets using existing liquidity while maintaining certain minimum liquidity requirements. In addition, it has the ability to issue equity without any requirement to repay debt and has preserved the flexibility to use $750 million of net proceeds from asset sales for reinvestment purposes.

Jim Risoleo, president and CEO, said, “As states and markets began to ease their lockdowns, our portfolio achieved over 100 percent hotel revenue growth from the lows of $24 million in April to $49 million in June. Toward the end of the second quarter, we successfully amended our credit agreement and achieved outstanding terms that preserve our liquidity and retain our flexibility to capitalize on va