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Variance of muscle synergy9/26/2023 These strong results continue to underscore the advantages of our geographically diversified portfolio of iconic and irreplaceable hotels, our unprecedented scale and platform to drive internal and external growth and the power and flexibility of our investment-grade balance sheet. We beat the midpoint of our original RevPAR guidance by 50 basis points, margins by 80 basis points, EBITDAre by $62 million or 4% and adjusted FFO per share by $0.12 or 7.3%. We had a consistent beat and raise year with margins, EBITDAre and FFO, all coming in well ahead of the top-end of our initial guidance provided last February. This resulted in a 3.4% EBITDAre expansion to $1.562 billion and a 4.7% increase in adjusted FFO per share to $1.77. Following their remarks, we will be available to respond to your questions.Ģ018 was a solid year for Host with comparable RevPAR growing 2% and (technical difficulty) margin growing an impressive 60 basis points. Michael Bluhm, our Chief Financial Officer, will then provide commentary on our fourth quarter and full year performance, including market, margins, balance sheet and our guidance for 2019. This morning, Jim Risoleo, our President and Chief Executive Officer, will provide his remarks on our fourth quarter and full year results, our 2018 achievements including the acquisition of the 1 Hotel South Beach and conclude with our capital allocation strategy and outlook for 2019. You can find this information, together with reconciliation to the most directly comparable GAAP information, in today's earnings press release, in our 8-K filed with the SEC, and the supplemental financial information on our website at. In addition, on today's call, we will discuss certain non-GAAP financial information, such as FFO, adjusted EBITDAre and comparable hotel results. As described in our filings with the SEC, these statements are subject to numerous risks and uncertainties that could cause future results to differ from those expressed and we are not obligated to publicly update or revise these forward-looking statements. Before we begin, I'd like to remind everyone that many of the comments made today are considered to be forward-looking statements under federal securities law. Welcome to the Host Hotels & Resorts Fourth Quarter 2018 Earnings Call. Today's conference is being recorded.Īt this time, I would like to turn the conference over to Ms. Good day, and welcome to the Host Hotels & Resorts Incorporated Fourth Quarter and Full Year 2018 Earnings Conference.
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