Host Hotels & Resorts 10-Q 8 Aug 18 2018 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Jun. 30, 2018	Aug. 06, 2018
Document Information [Line Items]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Jun. 30, 2018
Document Fiscal Year Focus	2,018
Document Fiscal Period Focus	Q2
Trading Symbol	HST
Entity Registrant Name	HOST HOTELS & RESORTS, INC.
Entity Central Index Key	1,070,750
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Entity Common Stock, Shares Outstanding		741,677,444
HOST HOTELS & RESORTS L.P.
Document Information [Line Items]
Entity Registrant Name	HOST HOTELS & RESORTS L.P.
Entity Central Index Key	1,061,937
Current Fiscal Year End Date	--12-31
Entity Filer Category	Non-accelerated Filer

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($) $ in Millions		Jun. 30, 2018	Dec. 31, 2017
ASSETS
Property and equipment, net		$ 10,377	$ 9,692
Assets held for sale		163	250
Due from managers		161	79
Advances to and investments in affiliates		322	327
Furniture, fixtures and equipment replacement fund		199	195
Other		207	237
Cash and cash equivalents		646	913
Total assets		12,075	11,693
Debt
Senior notes		2,780	2,778
Credit facility, including term loans of $997 million and $996 million, respectively		1,442	1,170
Other debt		6	6
Total debt		4,228	3,954
Accounts payable and accrued expenses		242	283
Other		266	287
Total liabilities		4,736	4,524
Partnership interests		173	167
Host Hotels & Resorts, Inc. stockholders’ equity:
Common stock, par value $.01, 1,050 million shares authorized, 739.8 million shares and 739.1 million shares issued and outstanding, respectively		7	7
Additional paid-in capital		8,100	8,097
Accumulated other comprehensive loss		(68)	(60)
Deficit		(901)	(1,071)
Total equity of Host Hotels & Resorts, Inc. stockholders		7,138	6,973
Non-controlling interests—other consolidated partnerships		28	29
Total equity		7,166	7,002
Total liabilities, non-controlling interests and equity		12,075	11,693
Host Hotels & Resorts, L.P. capital:
Accumulated other comprehensive loss		(68)	(60)
HOST HOTELS & RESORTS L.P.
ASSETS
Property and equipment, net		10,377	9,692
Assets held for sale		163	250
Due from managers		161	79
Advances to and investments in affiliates		322	327
Furniture, fixtures and equipment replacement fund		199	195
Other		207	237
Cash and cash equivalents		646	913
Total assets		12,075	11,693
Debt
Senior notes		2,780	2,778
Credit facility, including term loans of $997 million and $996 million, respectively		1,442	1,170
Other debt		6	6
Total debt		4,228	3,954
Accounts payable and accrued expenses		242	283
Other		266	287
Total liabilities		4,736	4,524
Partnership interests	[1]	173	167
Host Hotels & Resorts, Inc. stockholders’ equity:
Accumulated other comprehensive loss		(68)	(60)
Total equity		7,166	7,002
Total liabilities, non-controlling interests and equity		12,075	11,693
Host Hotels & Resorts, L.P. capital:
General partner		1	1
Limited partner		7,205	7,032
Accumulated other comprehensive loss		(68)	(60)
Total Host Hotels & Resorts, L.P. capital		7,138	6,973
Non-controlling interests—consolidated partnerships		28	29
Total capital		$ 7,166	$ 7,002
[1]	The book value recorded is equal to the greater of redemption value or historical cost.

CONDENSED CONSOLIDATED BALANCE3

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) (Unaudited) - USD ($) $ in Millions	Jun. 30, 2018	Dec. 31, 2017
Credit facility	$ 1,442	$ 1,170
Common stock, par value	$ 0.01	$ 0.01
Common stock, shares authorized	1,050,000,000	1,050,000,000
Common stock, shares issued	739,800,000	739,100,000
Common stock, shares outstanding	739,800,000	739,100,000
Term Loan
Credit facility	$ 997	$ 996

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
REVENUES
Revenues	$ 1,518	$ 1,441	$ 2,864	$ 2,789
EXPENSES
Other property-level expenses	99	97	197	197
Depreciation and amortization	189	178	367	358
Corporate and other expenses	30	26	58	55
Gain on insurance and business interruption settlements		(2)		(5)
Total operating costs and expenses	1,255	1,197	2,430	2,374
OPERATING PROFIT	263	244	434	415
Interest income	2	1	5	2
Interest expense	(45)	(43)	(89)	(82)
Gain on sale of assets		29	120	46
Loss on foreign currency transactions and derivatives	(1)		(1)	(2)
Equity in earnings of affiliates	9	8	19	15
INCOME BEFORE INCOME TAXES	228	239	488	394
Provision for income taxes	(17)	(27)	(21)	(21)
NET INCOME	211	212	467	373
Less: Net (income) loss attributable to non-controlling interests	(2)	(2)	(5)	(5)
NET INCOME ATTRIBUTABLE TO REPORTING ENTITY	$ 209	$ 210	$ 462	$ 368
Basic earnings per common share	$ 0.28	$ 0.28	$ 0.62	$ 0.50
Diluted earnings per common share	$ 0.28	$ 0.28	$ 0.62	$ 0.50
HOST HOTELS & RESORTS L.P.
REVENUES
Revenues	$ 1,518	$ 1,441	$ 2,864	$ 2,789
EXPENSES
Other property-level expenses	99	97	197	197
Depreciation and amortization	189	178	367	358
Corporate and other expenses	30	26	58	55
Gain on insurance and business interruption settlements		(2)		(5)
Total operating costs and expenses	1,255	1,197	2,430	2,374
OPERATING PROFIT	263	244	434	415
Interest income	2	1	5	2
Interest expense	(45)	(43)	(89)	(82)
Gain on sale of assets		29	120	46
Loss on foreign currency transactions and derivatives	(1)		(1)	(2)
Equity in earnings of affiliates	9	8	19	15
INCOME BEFORE INCOME TAXES	228	239	488	394
Provision for income taxes	(17)	(27)	(21)	(21)
NET INCOME	211	212	467	373
Less: Net (income) loss attributable to non-controlling interests				(1)
NET INCOME ATTRIBUTABLE TO REPORTING ENTITY	$ 211	$ 212	$ 467	$ 372
Basic earnings per common share	$ 0.29	$ 0.29	$ 0.64	$ 0.51
Diluted earnings per common share	$ 0.29	$ 0.29	$ 0.64	$ 0.51
Rooms
REVENUES
Revenues	$ 973	$ 940	$ 1,817	$ 1,783
EXPENSES
Expenses	238	230	462	449
Rooms | HOST HOTELS & RESORTS L.P.
REVENUES
Revenues	973	940	1,817	1,783
EXPENSES
Expenses	238	230	462	449
Food and Beverage
REVENUES
Revenues	449	416	862	838
EXPENSES
Expenses	290	275	568	552
Food and Beverage | HOST HOTELS & RESORTS L.P.
REVENUES
Revenues	449	416	862	838
EXPENSES
Expenses	290	275	568	552
Other Departmental and Support Expenses
REVENUES
Revenues	96	85	185	168
EXPENSES
Expenses	336	324	651	643
Other Departmental and Support Expenses | HOST HOTELS & RESORTS L.P.
REVENUES
Revenues	96	85	185	168
EXPENSES
Expenses	336	324	651	643
Management Fees
EXPENSES
Expenses	73	69	127	125
Management Fees | HOST HOTELS & RESORTS L.P.
EXPENSES
Expenses	$ 73	$ 69	$ 127	$ 125

CONDENSED CONSOLIDATED STATEME5

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) (Unaudited) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
NET INCOME	$ 211	$ 212	$ 467	$ 373
OTHER COMPREHENSIVE INCOME (LOSS), NET OF TAX:
Foreign currency translation and other comprehensive income of unconsolidated affiliates	(14)	8	(8)	15
Change in fair value of derivative instruments	1	(9)		(10)
Amounts reclassified from other comprehensive income (loss)		2		1
OTHER COMPREHENSIVE INCOME (LOSS), NET OF TAX	(13)	1	(8)	6
COMPREHENSIVE INCOME	198	213	459	379
Less: Comprehensive (income) loss attributable to non-controlling interests	(2)	(4)	(5)	(6)
COMPREHENSIVE INCOME ATTRIBUTABLE TO REPORTING ENTITY	196	209	454	373
HOST HOTELS & RESORTS L.P.
NET INCOME	211	212	467	373
OTHER COMPREHENSIVE INCOME (LOSS), NET OF TAX:
Foreign currency translation and other comprehensive income of unconsolidated affiliates	(14)	8	(8)	15
Change in fair value of derivative instruments	1	(9)		(10)
Amounts reclassified from other comprehensive income (loss)		2		1
OTHER COMPREHENSIVE INCOME (LOSS), NET OF TAX	(13)	1	(8)	6
COMPREHENSIVE INCOME	198	213	459	379
Less: Comprehensive (income) loss attributable to non-controlling interests		(2)		(2)
COMPREHENSIVE INCOME ATTRIBUTABLE TO REPORTING ENTITY	$ 198	$ 211	$ 459	$ 377

CONDENSED CONSOLIDATED STATEME6

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
OPERATING ACTIVITIES
NET INCOME	$ 211	$ 212	$ 467	$ 373
Adjustments to reconcile to cash provided by operations:
Depreciation and amortization	189	178	367	358
Amortization of finance costs, discounts and premiums, net			3	3
Stock compensation expense			7	5
Deferred income taxes				20
Gain on sale of assets		(29)	(120)	(46)
Loss on foreign currency transactions and derivatives	1		1	2
Equity in earnings of affiliates	(9)	(8)	(19)	(15)
Change in due from managers			(81)	(59)
Distributions from investments in affiliates			17	13
Changes in other assets			25	(23)
Changes in other liabilities			(12)	(16)
Net cash provided by operating activities			655	615
INVESTING ACTIVITIES
Proceeds from sales of assets, net			362	226
Return of investments in affiliates			1	4
Advances to and investments in affiliates			(3)
Acquisitions			(1,019)	(467)
Capital expenditures:
Renewals and replacements			(143)	(111)
Return on investment			(58)	(32)
Property insurance proceeds			1
Net cash used in investing activities			(859)	(380)
FINANCING ACTIVITIES
Financing costs				(9)
Issuances of debt				398
Draws on credit facility			360	340
Repayment of credit facility			(75)	(340)
Dividends on common stock			(333)	(332)
Other financing activities			(7)	(2)
Net cash provided by (used in) financing activities			(55)	55
Effects of exchange rate changes on cash held			(4)	4
INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS AND RESTRICTED CASH			(263)	294
CASH AND CASH EQUIVALENTS AND RESTRICTED CASH, BEGINNING OF PERIOD			1,109	544
CASH AND CASH EQUIVALENTS AND RESTRICTED CASH, END OF PERIOD	846	838	846	838
Supplemental disclosure of cash flow information:
Cash and cash equivalents	646	644	646	644
Restricted cash (included in other assets)	1	2	1	2
Cash included in furniture, fixtures and equipment replacement fund	199	192	199	192
Total cash and cash equivalents and restricted cash shown in the statements of cash flows	846	838	846	838
Total interest paid			83	72
Income taxes paid			22	15
HOST HOTELS & RESORTS L.P.
OPERATING ACTIVITIES
NET INCOME	211	212	467	373
Adjustments to reconcile to cash provided by operations:
Depreciation and amortization	189	178	367	358
Amortization of finance costs, discounts and premiums, net			3	3
Stock compensation expense			7	5
Deferred income taxes				20
Gain on sale of assets		(29)	(120)	(46)
Loss on foreign currency transactions and derivatives	1		1	2
Equity in earnings of affiliates	(9)	(8)	(19)	(15)
Change in due from managers			(81)	(59)
Distributions from investments in affiliates			17	13
Changes in other assets			25	(23)
Changes in other liabilities			(12)	(16)
Net cash provided by operating activities			655	615
INVESTING ACTIVITIES
Proceeds from sales of assets, net			362	226
Return of investments in affiliates			1	4
Advances to and investments in affiliates			(3)
Acquisitions			(1,019)	(467)
Capital expenditures:
Renewals and replacements			(143)	(111)
Return on investment			(58)	(32)
Property insurance proceeds			1
Net cash used in investing activities			(859)	(380)
FINANCING ACTIVITIES
Financing costs				(9)
Issuances of debt				398
Draws on credit facility			360	340
Repayment of credit facility			(75)	(340)
Distributions on common OP units			(337)	(336)
Other financing activities			(3)	2
Net cash provided by (used in) financing activities			(55)	55
Effects of exchange rate changes on cash held			(4)	4
INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS AND RESTRICTED CASH			(263)	294
CASH AND CASH EQUIVALENTS AND RESTRICTED CASH, BEGINNING OF PERIOD			1,109	544
CASH AND CASH EQUIVALENTS AND RESTRICTED CASH, END OF PERIOD	846	838	846	838
Supplemental disclosure of cash flow information:
Cash and cash equivalents	646	644	646	644
Restricted cash (included in other assets)	1	2	1	2
Cash included in furniture, fixtures and equipment replacement fund	199	192	199	192
Total cash and cash equivalents and restricted cash shown in the statements of cash flows	$ 846	$ 838	846	838
Total interest paid			83	72
Income taxes paid			$ 22	$ 15

Organization

Organization	6 Months Ended
	Jun. 30, 2018
Organization Consolidation And Presentation Of Financial Statements [Abstract]
Organization	1. Organization Description of Business Host Hotels & Resorts, Inc. operates as a self-managed and self-administered real estate investment trust (“REIT”), with its operations conducted solely through Host Hotels & Resorts, L.P. and its subsidiaries. Host Hotels & Resorts, L.P., a Delaware limited partnership, operates through an umbrella partnership structure, with Host Hotels & Resorts, Inc., a Maryland corporation, as its sole general partner. In the notes to these unaudited condensed consolidated financial statements, we use the terms “we” or “our” to refer to Host Hotels & Resorts, Inc. and Host Hotels & Resorts, L.P. together, unless the context indicates otherwise. We also use the term “Host Inc.” specifically to refer to Host Hotels & Resorts, Inc. and the term “Host L.P.” specifically to refer to Host Hotels & Resorts, L.P. in cases where it is important to distinguish between Host Inc. and Host L.P. As of June 30, 2018, Host Inc. holds approximately 99% of Host L.P.’s OP units. Consolidated Portfolio As of June 30, 2018, our consolidated portfolio, primarily consisting of luxury and upper upscale hotels, is located in the following countries: Hotels United States 89 Brazil 3 Canada 2 Mexico 1 Total 95 Joint Ventures We own approximately a 33% non-controlling interest in a joint venture in Europe (“Euro JV”) that owns 11 hotels in two separate funds in seven countries. We also own non-controlling interests in an additional six joint ventures that own ten hotels.

Summary of Significant Accounti

Summary of Significant Accounting Policies	6 Months Ended
	Jun. 30, 2018
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	2. Summary of Significant Accounting Policies We have condensed or omitted certain information and footnote disclosures normally included in financial statements presented in accordance with GAAP in the accompanying unaudited condensed consolidated financial statements. We believe the disclosures made herein are adequate to prevent the information presented from being misleading. However, the financial statements should be read in conjunction with the consolidated financial statements and notes thereto included in our Annual Report on Form 10–K for the year ended December 31, 2017. The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. In our opinion, the accompanying unaudited condensed consolidated financial statements reflect all adjustments necessary to present fairly our financial position as of June 30, 2018, and the results of our operations for the quarter and year-to-date periods ended June 30, 2018 and 2017, respectively, and cash flows for the year-to-date periods ended June 30, 2018 and 2017, respectively. Interim results are not necessarily indicative of full year performance because of the impact of seasonal variations. Three of our partnerships are considered variable interest entities (VIEs) as the general partner maintains control over the decisions that most significantly impact the partnerships. This includes the operating partnership, Host L.P., which is consolidated by Host Inc., of which Host Inc. is the sole general partner and holds approximately 99% of its partnership interests; the consolidated partnership that owns the Houston Airport Marriott at George Bush Intercontinental; and the unconsolidated partnership that owns the Philadelphia Marriott Downtown. Host Inc.’s sole significant asset is its investment in Host L.P. and, consequently, substantially all of Host Inc.’s assets and liabilities consist of the assets and liabilities of Host L.P. All of Host Inc.’s debt is an obligation of Host L.P. and may be settled only with assets of Host L.P. Reclassifications Certain prior year financial statement amounts have been reclassified to conform with the current year presentation. New Accounting Standards Leases. In February 2016, the FASB issued ASU No. 2016-02, Leases (Topic 842), which affects aspects of accounting for lease agreements. Under the new standard, all leases, including operating leases, will require recognition of the lease assets and lease liabilities by lessees on the balance sheet. However, the effect on the statement of operations and the statement of cash flows largely is unchanged. The standard is effective for fiscal years beginning after December 15, 2018. The current standard requires a modified retrospective approach, with the option of restatement of the comparative periods presented in the year of adoption or applying the new standard only in the year of adoption with a cumulative-effect adjustment in the period of adoption. The primary impact of the new standard will be to the treatment of our 26 ground leases, which represent approximately 85% of our annual operating lease payments. We believe that application of this standard will result in the recording of a right of use asset and the related lease liability of between $400 million and $500 million for the ground leases, although changes in discount rates, ground lease terms or other variables may have a significant effect on the calculation of this recorded amount. As noted above, we expect that the adoption of this standard will have minimal impact on our income statement. Business Combinations. We adopted ASU No. 2017-01, Business Combinations (Topic 805): Clarifying the Definition of a Business on January 1, 2018. The standard adopts a two-step approach wherein, if substantially all of the fair value of the gross assets acquired is concentrated in a single (group of similar) identifiable asset(s), then the transaction will be considered an asset purchase. We anticipate that most of our future hotel purchases will be considered asset purchases as opposed to business combinations, although this determination will be made on a transaction-by-transaction basis. This standard was adopted on a prospective basis and, therefore, it did not affect the accounting for any of our previous transactions. Revenue Recognition. We adopted ASU No. 2014-09, Revenue from Contracts with Customers (Topic 606), on January 1, 2018 . The standard sets forth steps to determine the timing and amount of revenue to be recognized to depict the transfer of goods or services in an amount that reflects the consideration that an entity expects in exchange. We also adopted ASU No. 2017-05, Other Income – Gains and Losses from the Derecognition of Nonfinancial Assets (Subtopic 610-20) , which provides further guidance on accounting for the derecognition of and partial sales of a non-financial asset. This standard may allow for earlier gain recognition for certain sale transactions pursuant to which we have continuing involvement with the asset that was sold. We adopted these standards using a modified retrospective approach with a cumulative effect recognized in our equity balance on the date of adoption and no restatements of prior period amounts. When applying the new standard for the cumulative effect, we elected to apply the new standard only to contracts that were not considered completed as of the date of adoption. Transition adjustment. As a result of the adoption of this standard on January 1, 2018, total liabilities were reduced by $4.5 million, and total equity of Host Inc. stockholders and total Host L.P. capital increased by $4.5 million. This adjustment is related to a previously deferred gain on the sale of the Atlanta Marriott Marquis in 2013 that would have qualified for recognition under the new standard. Our balance sheet as of June 30, 2018 includes $0.4 million retained as a contingent liability for potential environmental liabilities at the Atlanta Marriott Marquis; however, our potential exposure related to the guarantee can be up to $5 million. Adoption did not have an effect on our income statement for the quarter and year-to-date ended June 30, 2018 and 2017. Policy Disclosure. There has been no significant change to our method of revenue recognition for our primary operations; however, we have updated our accounting policy and disclosures for the revenue recognition standard. See Note 4 for this disclosure.

Earnings Per Common Share (Unit

Earnings Per Common Share (Unit)	6 Months Ended
	Jun. 30, 2018
Earnings Per Share [Abstract]
Earnings Per Common Share (Unit)	3. Earnings Per Common Share (Unit) Basic earnings per common share (unit) is computed by dividing net income attributable to common stockholders (unitholders) by the weighted average number of shares of Host Inc. common stock or Host L.P. common units outstanding. Diluted earnings per common share (unit) is computed by dividing net income attributable to common stockholders (unitholders), as adjusted for potentially dilutive securities, by the weighted average number of shares of Host Inc. common stock or Host L.P. common units outstanding plus other potentially dilutive securities. Dilutive securities may include shares granted under comprehensive stock plans or the common OP units distributed to Host Inc. to support such shares granted, and other non-controlling interests that have the option to convert their limited partnership interests to common OP units. No effect is shown for any securities that are anti-dilutive. We have 8 million common OP units which are convertible into 8.2 million common shares that are not included in Host Inc.’s calculation of earnings per share as their effect is not dilutive. The calculation of Host Inc. basic and diluted earnings per common share is shown below (in millions, except per share amounts): Quarter ended June 30, Year-to-date ended June 30, 2018 2017 2018 2017 Net income $ 211 $ 212 $ 467 $ 373 Less: Net income attributable to non-controlling interests (2 ) (2 ) (5 ) (5 ) Net income attributable to Host Inc. $ 209 $ 210 $ 462 $ 368 Basic weighted average shares outstanding 739.7 738.6 739.5 738.3 Assuming distribution of common shares granted under the comprehensive stock plans, less shares assumed purchased at market 0.5 0.2 0.4 0.2 Diluted weighted average shares outstanding 740.2 738.8 739.9 738.5 Basic earnings per common share $ .28 $ .28 $ .62 $ .50 Diluted earnings per common share $ .28 $ .28 $ .62 $ .50 The calculation of Host L.P. basic and diluted earnings per unit is shown below (in millions, except per unit amounts): Quarter ended June 30, Year-to-date ended June 30, 2018 2017 2018 2017 Net income $ 211 $ 212 $ 467 $ 373 Less: Net income attributable to non-controlling interests — — — (1 ) Net income attributable to Host L.P. $ 211 $ 212 $ 467 $ 372 Basic weighted average units outstanding 732.2 731.5 732.1 731.2 Assuming distribution of common units to support shares granted under the comprehensive stock plans, less shares assumed purchased at market 0.5 0.1 0.4 0.2 Diluted weighted average units outstanding 732.7 731.6 732.5 731.4 Basic earnings per common unit $ .29 $ .29 $ .64 $ .51 Diluted earnings per common unit $ .29 $ .29 $ .64 $ .51

Revenue

Revenue	6 Months Ended
	Jun. 30, 2018
Revenue From Contract With Customer [Abstract]
Revenue	4. Revenue Substantially all of our operating results represent revenues and expenses generated by property-level operations. The majority of customers make payments when services are provided to them. Due to the short-term nature of our contracts and the almost concurrent receipt of payment, we have no significant performance obligations outstanding at quarter end. We collect sales, use, occupancy and similar taxes at our hotels, which we present on a net basis (excluded from revenues) on our statements of operations. Revenues are recognized when the performance obligations have been met, as follows: Income statement line item Recognition method Rooms revenues Rooms revenues represent revenues from the occupancy of our hotel rooms and are driven by the occupancy and average daily rate charged. Rooms revenues do not include ancillary services or fees charged. The contracts for room stays with customers generally are very short term in duration and revenues are recognized over time during the course of the hotel stay. Food & beverage revenues Food & beverage (“F&B”) revenues consist of revenue from group functions, which may include banquet revenue and audio-visual revenue, as well as outlet revenue from the restaurants and lounges at our properties. Revenues are recognized at a point in time as the services or products are provided. Our hotels may employ third parties to provide certain services at the property, for example, audio and visual services. We evaluate each of these contracts to determine if the hotel is the principal or the agent in the transaction and record the revenues as appropriate (i.e. gross vs. net). Other revenues Other revenues consist of ancillary revenue at the property, including attrition and cancelation fees, golf courses, resort and destination fees, spas, entertainment and other guest services, as well as rental revenue; primarily consisting of leased retail outlets. Attrition and cancelation fees are recognized at a point in time for non-cancelable deposits when the customer provides notification of cancelation or is a no-show for the specified date, whichever comes first. Disaggregation of Revenues. While we do not consider the following division by location to consist of reportable segments, we have disaggregated hotel revenues by market location. Our revenues also are presented by country in Note 10 – Geographic Information. By Location. The following table presents hotel revenues for each of the geographic locations in our consolidated hotel portfolio (in millions): Quarter ended June 30, Year-to-date ended June 30, Location 2018 2017 2018 2017 New York $ 206 $ 211 $ 367 $ 361 San Diego 133 126 266 263 San Francisco/San Jose 135 103 242 207 Washington, D.C. (Central Business District "CBD") 108 105 181 194 Florida Gulf Coast 81 67 179 154 Maui/Oahu 96 71 177 145 Phoenix 77 62 174 160 Boston 91 94 145 148 Orlando 56 53 126 117 Los Angeles 48 50 95 88 Chicago 57 57 87 84 Atlanta 40 42 82 85 Northern Virginia 45 56 81 100 Houston 31 30 63 63 Seattle 36 35 61 61 San Antonio 30 27 60 60 Orange County 30 30 59 61 New Orleans 28 26 56 54 Jacksonville 30 29 53 51 Philadelphia 24 23 43 40 Denver 25 24 43 42 Miami 13 13 32 31 Other 67 72 135 153 Domestic 1,487 1,406 2,807 2,722 International 31 35 57 67 Total $ 1,518 $ 1,441 $ 2,864 $ 2,789

Property and Equipment

Property and Equipment	6 Months Ended
	Jun. 30, 2018
Property Plant And Equipment [Abstract]
Property and Equipment	5. Property and Equipment Property and equipment consists of the following (in millions): June 30, 2018 December 31, 2017 Land and land improvements $ 2,120 $ 1,934 Buildings and leasehold improvements 14,262 13,529 Furniture and equipment 2,412 2,357 Construction in progress 112 106 18,906 17,926 Less accumulated depreciation and amortization (8,529 ) (8,234 ) $ 10,377 $ 9,692

Debt

Debt	6 Months Ended
	Jun. 30, 2018
Debt Disclosure [Abstract]
Debt	6. Debt Credit Facility. During the second quarter, we repaid CAD$33 million ($25 million) under the revolver portion of the credit facility. As of June 30, 2018, we had $551 million of available capacity under the revolver portion of our credit facility. Subsequent to quarter end, we repaid an additional $150 million under the revolver portion of the credit facility.

Equity of Host Inc. and Capital

Equity of Host Inc. and Capital of Host L.P.	6 Months Ended
	Jun. 30, 2018
Equity [Abstract]
Equity of Host Inc. and Capital of Host L.P.	7. Equity of Host Inc. and Capital of Host L.P. Equity of Host Inc. Equity of Host Inc. is allocated between controlling and non-controlling interests as follows (in millions): Equity of Host Inc. Non-redeemable, non-controlling interests Total equity Redeemable, non-controlling interests Balance, December 31, 2017 $ 6,973 $ 29 $ 7,002 $ 167 Net income 462 — 462 5 Issuance of common stock for comprehensive stock plans, net 6 — 6 — Dividends declared on common stock (296 ) — (296 ) — Distributions to non-controlling interests — (1 ) (1 ) (3 ) Changes in ownership and other (4 ) — (4 ) 4 Other comprehensive loss (8 ) — (8 ) — Cumulative effect of accounting change 5 — 5 — Balance, June 30, 2018 $ 7,138 $ 28 $ 7,166 $ 173 Capital of Host L.P. As of June 30, 2018, Host Inc. is the owner of approximately 99% of Host L.P.’s common OP units. The remaining common OP units are held by third party limited partners. Each common OP unit may be redeemed for cash or, at the election of Host Inc., Host Inc. common stock, based on the conversion ratio of 1.021494 shares of Host Inc. common stock for each common OP unit. In exchange for any shares issued by Host Inc., Host L.P. will issue common OP units to Host Inc. based on the applicable conversion ratio. Additionally, funds used by Host Inc. to pay dividends on its common stock are provided by distributions from Host L.P. Capital of Host L.P. is allocated between controlling and non-controlling interests as follows (in millions): Capital of Host L.P. Non-controlling interests Total capital Limited partnership interests of third parties Balance, December 31, 2017 $ 6,973 $ 29 $ 7,002 $ 167 Net income 462 — 462 5 Issuance of common OP units to Host Inc. for comprehensive stock plans, net 6 — 6 — Distributions declared on common OP units (296 ) — (296 ) (3 ) Distributions to non-controlling interests — (1 ) (1 ) — Changes in ownership and other (4 ) — (4 ) 4 Other comprehensive loss (8 ) — (8 ) — Cumulative effect of accounting change 5 — 5 — Balance, June 30, 2018 $ 7,138 $ 28 $ 7,166 $ 173 Dividends/Distributions On June 14, 2018, Host Inc.’s Board of Directors declared a regular quarterly cash dividend of $0.20 per share on its common stock. The dividend was paid on July 16, 2018 to stockholders of record as of June 29, 2018. Accordingly, Host L.P. made a distribution of $0.2042988 per unit on its common OP units based on the current conversion ratio.

Dispositions

Dispositions	6 Months Ended
	Jun. 30, 2018
Disposal Group Not Discontinued Operation Disposal Disclosures [Abstract]
Dispositions	8. Dispositions On May 9, 2018, we sold the W New York on Lexington Avenue for $190 million. We did not record any material gain or loss in connection with the sale.

Fair Value Measurements

Fair Value Measurements	6 Months Ended
	Jun. 30, 2018
Fair Value Disclosures [Abstract]
Fair Value Measurements	9. Fair Value Measurements Impairment During the second quarter, we recorded an impairment loss of $13 million, which is included in depreciation and amortization expense, related to the W New York – Union Square hotel based on the expected sale price of the property, which sale price is considered an unobservable input (Level 3) in the GAAP fair value hierarchy. The fair value of the property on June 30, 2018 was $162 million. The property was classified as held-for-sale as of June 30, 2018. Other Liabilities Fair Value of Other Financial Liabilities. We did not elect the fair value measurement option for any of our other financial liabilities. The fair values of our secured debt and our credit facility are determined based on expected future payments discounted at risk-adjusted rates. Our senior notes are valued based on quoted market prices. The fair values of financial instruments not included in this table are estimated to be equal to their carrying amounts. The fair value of certain financial liabilities is shown below (in millions): June 30, 2018 December 31, 2017 Carrying Amount Fair Value Carrying Amount Fair Value Financial liabilities Senior notes (Level 1) $ 2,780 $ 2,810 $ 2,778 $ 2,932 Credit facility (Level 2) 1,442 1,449 1,170 1,178

Geographic Information

Geographic Information	6 Months Ended
	Jun. 30, 2018
Segment Reporting [Abstract]
Geographic Information	10. Geographic Information We consider each of our hotels to be an operating segment, none of which meets the threshold for a reportable segment. We also allocate resources and assess operating performance based on individual hotels. All of our other real estate investment activities (primarily office buildings and apartments) are immaterial and, with our operating segments, meet the aggregation criteria, and thus, we report one reportable segment: hotel ownership. Our consolidated foreign operations consist of hotels in three countries as of June 30, 2018. There were no intersegment sales during the periods presented. The following table presents total revenues and property and equipment, net, for each of the geographical areas in which we operate (in millions): Total Revenues Total Revenues Property and Equipment, net Quarter ended June 30, Year-to-date ended June 30, June 30, December 31, 2018 2017 2018 2017 2018 2017 United States $ 1,487 $ 1,406 $ 2,807 $ 2,722 $ 10,249 $ 9,548 Australia — 8 — 16 — — Brazil 5 5 10 11 49 59 Canada 19 15 33 26 66 71 Mexico 7 7 14 14 13 14 Total $ 1,518 $ 1,441 $ 2,864 $ 2,789 $ 10,377 $ 9,692

Non-Controlling Interests

Non-Controlling Interests	6 Months Ended
	Jun. 30, 2018
Noncontrolling Interest [Abstract]
Non-Controlling Interests	11. Non-controlling Interests Host Inc.’s treatment of the non-controlling interests of Host L.P.: Host Inc. adjusts the non-controlling interests of Host L.P. each period so that the amount presented equals the greater of its carrying value based on accumulated historical cost or its redemption value. The historical cost is based on the proportional relationship between the historical cost of equity held by our common stockholders relative to that of the unitholders of Host L.P. The redemption value is based on the amount of cash or Host Inc. common stock, at our option, that would be paid to the non-controlling interests of Host L.P. if it were terminated. Therefore, the redemption value of the common OP units is equivalent to the number of shares that would be issued upon conversion of the common OP units held by third parties valued at the market price of Host Inc. common stock at the balance sheet date. One common OP unit may be exchanged for 1.021494 shares of Host Inc. common stock. Non-controlling interests of Host L.P. are classified in the mezzanine section of our balance sheets as they do not meet the requirements for equity classification because the redemption feature requires the delivery of registered shares. The table below details the historical cost and redemption values for the non-controlling interests: June 30, 2018 December 31, 2017 Common OP units outstanding (millions) 8.0 8.2 Market price per Host Inc. common share $ 21.07 $ 19.85 Shares issuable upon conversion of one common OP unit 1.021494 1.021494 Redemption value (millions) $ 173 $ 167 Historical cost (millions) 80 80 Book value (millions) (1) 173 167 ___________ (1) The book value recorded is equal to the greater of redemption value or historical cost. Other Consolidated Partnerships. We consolidate three majority-owned partnerships that have third-party, non-controlling partners. The third-party partnership interests are included in non-controlling interests — other consolidated partnerships on the balance sheets and totaled $28 million and $29 million as of June 30, 2018 and December 31, 2017, respectively.

Legal Proceedings

Legal Proceedings	6 Months Ended
	Jun. 30, 2018
Commitments And Contingencies Disclosure [Abstract]
Legal Proceedings	12. Legal Proceedings We are involved in various legal proceedings in the normal course of business regarding the operation of our hotels and company matters. To the extent not covered by insurance, these legal proceedings generally fall into the following broad categories: disputes involving hotel-level contracts, employment litigation, compliance with laws such as the Americans with Disabilities Act, tax disputes and other general matters. Under our management agreements, our operators have broad latitude to resolve individual hotel-level claims for amounts generally less than $150,000. However, for matters exceeding such threshold, our operators may not settle claims without our consent. Based on our analysis of legal proceedings with which we currently are involved or of which we are aware and our experience in resolving similar claims in the past, we have recorded minimal accruals as of June 30, 2018 related to such claims. We have estimated that, in the aggregate, our losses related to these proceedings would not be material. We are not aware of any matters with a reasonably possible unfavorable outcome for which disclosure of a loss contingency is required. No assurances can be given as to the outcome of any pending legal proceedings.

Summary of Significant Accoun19

Summary of Significant Accounting Policies (Policies)	6 Months Ended
	Jun. 30, 2018
Accounting Policies [Abstract]
Reclassifications	Reclassifications Certain prior year financial statement amounts have been reclassified to conform with the current year presentation.
New Accounting Standards	New Accounting Standards Leases. In February 2016, the FASB issued ASU No. 2016-02, Leases (Topic 842), which affects aspects of accounting for lease agreements. Under the new standard, all leases, including operating leases, will require recognition of the lease assets and lease liabilities by lessees on the balance sheet. However, the effect on the statement of operations and the statement of cash flows largely is unchanged. The standard is effective for fiscal years beginning after December 15, 2018. The current standard requires a modified retrospective approach, with the option of restatement of the comparative periods presented in the year of adoption or applying the new standard only in the year of adoption with a cumulative-effect adjustment in the period of adoption. The primary impact of the new standard will be to the treatment of our 26 ground leases, which represent approximately 85% of our annual operating lease payments. We believe that application of this standard will result in the recording of a right of use asset and the related lease liability of between $400 million and $500 million for the ground leases, although changes in discount rates, ground lease terms or other variables may have a significant effect on the calculation of this recorded amount. As noted above, we expect that the adoption of this standard will have minimal impact on our income statement. Business Combinations. We adopted ASU No. 2017-01, Business Combinations (Topic 805): Clarifying the Definition of a Business on January 1, 2018. The standard adopts a two-step approach wherein, if substantially all of the fair value of the gross assets acquired is concentrated in a single (group of similar) identifiable asset(s), then the transaction will be considered an asset purchase. We anticipate that most of our future hotel purchases will be considered asset purchases as opposed to business combinations, although this determination will be made on a transaction-by-transaction basis. This standard was adopted on a prospective basis and, therefore, it did not affect the accounting for any of our previous transactions. Revenue Recognition. We adopted ASU No. 2014-09, Revenue from Contracts with Customers (Topic 606), on January 1, 2018 . The standard sets forth steps to determine the timing and amount of revenue to be recognized to depict the transfer of goods or services in an amount that reflects the consideration that an entity expects in exchange. We also adopted ASU No. 2017-05, Other Income – Gains and Losses from the Derecognition of Nonfinancial Assets (Subtopic 610-20) , which provides further guidance on accounting for the derecognition of and partial sales of a non-financial asset. This standard may allow for earlier gain recognition for certain sale transactions pursuant to which we have continuing involvement with the asset that was sold. We adopted these standards using a modified retrospective approach with a cumulative effect recognized in our equity balance on the date of adoption and no restatements of prior period amounts. When applying the new standard for the cumulative effect, we elected to apply the new standard only to contracts that were not considered completed as of the date of adoption. Transition adjustment. As a result of the adoption of this standard on January 1, 2018, total liabilities were reduced by $4.5 million, and total equity of Host Inc. stockholders and total Host L.P. capital increased by $4.5 million. This adjustment is related to a previously deferred gain on the sale of the Atlanta Marriott Marquis in 2013 that would have qualified for recognition under the new standard. Our balance sheet as of June 30, 2018 includes $0.4 million retained as a contingent liability for potential environmental liabilities at the Atlanta Marriott Marquis; however, our potential exposure related to the guarantee can be up to $5 million. Adoption did not have an effect on our income statement for the quarter and year-to-date ended June 30, 2018 and 2017. Policy Disclosure. There has been no significant change to our method of revenue recognition for our primary operations; however, we have updated our accounting policy and disclosures for the revenue recognition standard. See Note 4 for this disclosure.
Revenue Recognition	Revenues are recognized when the performance obligations have been met, as follows: Income statement line item Recognition method Rooms revenues Rooms revenues represent revenues from the occupancy of our hotel rooms and are driven by the occupancy and average daily rate charged. Rooms revenues do not include ancillary services or fees charged. The contracts for room stays with customers generally are very short term in duration and revenues are recognized over time during the course of the hotel stay. Food & beverage revenues Food & beverage (“F&B”) revenues consist of revenue from group functions, which may include banquet revenue and audio-visual revenue, as well as outlet revenue from the restaurants and lounges at our properties. Revenues are recognized at a point in time as the services or products are provided. Our hotels may employ third parties to provide certain services at the property, for example, audio and visual services. We evaluate each of these contracts to determine if the hotel is the principal or the agent in the transaction and record the revenues as appropriate (i.e. gross vs. net). Other revenues Other revenues consist of ancillary revenue at the property, including attrition and cancelation fees, golf courses, resort and destination fees, spas, entertainment and other guest services, as well as rental revenue; primarily consisting of leased retail outlets. Attrition and cancelation fees are recognized at a point in time for non-cancelable deposits when the customer provides notification of cancelation or is a no-show for the specified date, whichever comes first.

Organization (Tables)

Organization (Tables)	6 Months Ended
	Jun. 30, 2018
Organization Consolidation And Presentation Of Financial Statements [Abstract]
Consolidated Portfolio of Hotels by Location	As of June 30, 2018, our consolidated portfolio, primarily consisting of luxury and upper upscale hotels, is located in the following countries: Hotels United States 89 Brazil 3 Canada 2 Mexico 1 Total 95

Earnings Per Common Share (Un21

Earnings Per Common Share (Unit) (Tables)	6 Months Ended
	Jun. 30, 2018
Earnings Per Common Share (Unit)	The calculation of Host Inc. basic and diluted earnings per common share is shown below (in millions, except per share amounts): Quarter ended June 30, Year-to-date ended June 30, 2018 2017 2018 2017 Net income $ 211 $ 212 $ 467 $ 373 Less: Net income attributable to non-controlling interests (2 ) (2 ) (5 ) (5 ) Net income attributable to Host Inc. $ 209 $ 210 $ 462 $ 368 Basic weighted average shares outstanding 739.7 738.6 739.5 738.3 Assuming distribution of common shares granted under the comprehensive stock plans, less shares assumed purchased at market 0.5 0.2 0.4 0.2 Diluted weighted average shares outstanding 740.2 738.8 739.9 738.5 Basic earnings per common share $ .28 $ .28 $ .62 $ .50 Diluted earnings per common share $ .28 $ .28 $ .62 $ .50
HOST HOTELS & RESORTS L.P.
Earnings Per Common Share (Unit)	The calculation of Host L.P. basic and diluted earnings per unit is shown below (in millions, except per unit amounts): Quarter ended June 30, Year-to-date ended June 30, 2018 2017 2018 2017 Net income $ 211 $ 212 $ 467 $ 373 Less: Net income attributable to non-controlling interests — — — (1 ) Net income attributable to Host L.P. $ 211 $ 212 $ 467 $ 372 Basic weighted average units outstanding 732.2 731.5 732.1 731.2 Assuming distribution of common units to support shares granted under the comprehensive stock plans, less shares assumed purchased at market 0.5 0.1 0.4 0.2 Diluted weighted average units outstanding 732.7 731.6 732.5 731.4 Basic earnings per common unit $ .29 $ .29 $ .64 $ .51 Diluted earnings per common unit $ .29 $ .29 $ .64 $ .51

Revenue (Tables)

Revenue (Tables)	6 Months Ended
	Jun. 30, 2018
Revenue From Contract With Customer [Abstract]
Summary of Disaggregated Hotel Revenues by Market Location	Disaggregation of Revenues. While we do not consider the following division by location to consist of reportable segments, we have disaggregated hotel revenues by market location. Our revenues also are presented by country in Note 10 – Geographic Information. By Location. The following table presents hotel revenues for each of the geographic locations in our consolidated hotel portfolio (in millions): Quarter ended June 30, Year-to-date ended June 30, Location 2018 2017 2018 2017 New York $ 206 $ 211 $ 367 $ 361 San Diego 133 126 266 263 San Francisco/San Jose 135 103 242 207 Washington, D.C. (Central Business District "CBD") 108 105 181 194 Florida Gulf Coast 81 67 179 154 Maui/Oahu 96 71 177 145 Phoenix 77 62 174 160 Boston 91 94 145 148 Orlando 56 53 126 117 Los Angeles 48 50 95 88 Chicago 57 57 87 84 Atlanta 40 42 82 85 Northern Virginia 45 56 81 100 Houston 31 30 63 63 Seattle 36 35 61 61 San Antonio 30 27 60 60 Orange County 30 30 59 61 New Orleans 28 26 56 54 Jacksonville 30 29 53 51 Philadelphia 24 23 43 40 Denver 25 24 43 42 Miami 13 13 32 31 Other 67 72 135 153 Domestic 1,487 1,406 2,807 2,722 International 31 35 57 67 Total $ 1,518 $ 1,441 $ 2,864 $ 2,789

Property and Equipment (Tables)

Property and Equipment (Tables)	6 Months Ended
	Jun. 30, 2018
Property Plant And Equipment [Abstract]
Property and Equipment	Property and equipment consists of the following (in millions): June 30, 2018 December 31, 2017 Land and land improvements $ 2,120 $ 1,934 Buildings and leasehold improvements 14,262 13,529 Furniture and equipment 2,412 2,357 Construction in progress 112 106 18,906 17,926 Less accumulated depreciation and amortization (8,529 ) (8,234 ) $ 10,377 $ 9,692

Equity of Host Inc. and Capit24

Equity of Host Inc. and Capital of Host L.P. (Tables)	6 Months Ended
	Jun. 30, 2018
HOST HOTELS & RESORTS, INC.
Equity Allocation between Controlling and Non-Controlling Interests	Equity of Host Inc. is allocated between controlling and non-controlling interests as follows (in millions): Equity of Host Inc. Non-redeemable, non-controlling interests Total equity Redeemable, non-controlling interests Balance, December 31, 2017 $ 6,973 $ 29 $ 7,002 $ 167 Net income 462 — 462 5 Issuance of common stock for comprehensive stock plans, net 6 — 6 — Dividends declared on common stock (296 ) — (296 ) — Distributions to non-controlling interests — (1 ) (1 ) (3 ) Changes in ownership and other (4 ) — (4 ) 4 Other comprehensive loss (8 ) — (8 ) — Cumulative effect of accounting change 5 — 5 — Balance, June 30, 2018 $ 7,138 $ 28 $ 7,166 $ 173
HOST HOTELS & RESORTS L.P.
Capital Allocation between Controlling and Non-Controlling Interests	Capital of Host L.P. is allocated between controlling and non-controlling interests as follows (in millions): Capital of Host L.P. Non-controlling interests Total capital Limited partnership interests of third parties Balance, December 31, 2017 $ 6,973 $ 29 $ 7,002 $ 167 Net income 462 — 462 5 Issuance of common OP units to Host Inc. for comprehensive stock plans, net 6 — 6 — Distributions declared on common OP units (296 ) — (296 ) (3 ) Distributions to non-controlling interests — (1 ) (1 ) — Changes in ownership and other (4 ) — (4 ) 4 Other comprehensive loss (8 ) — (8 ) — Cumulative effect of accounting change 5 — 5 — Balance, June 30, 2018 $ 7,138 $ 28 $ 7,166 $ 173

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	6 Months Ended
	Jun. 30, 2018
Fair Value Disclosures [Abstract]
Fair Values of Certain Financial Liabilities and Other Financial Instruments	The fair value of certain financial liabilities is shown below (in millions): June 30, 2018 December 31, 2017 Carrying Amount Fair Value Carrying Amount Fair Value Financial liabilities Senior notes (Level 1) $ 2,780 $ 2,810 $ 2,778 $ 2,932 Credit facility (Level 2) 1,442 1,449 1,170 1,178

Geographic Information (Tables)

Geographic Information (Tables)	6 Months Ended
	Jun. 30, 2018
Segment Reporting [Abstract]
Revenues and Long-Lived Assets by Geographical Area	The following table presents total revenues and property and equipment, net, for each of the geographical areas in which we operate (in millions): Total Revenues Total Revenues Property and Equipment, net Quarter ended June 30, Year-to-date ended June 30, June 30, December 31, 2018 2017 2018 2017 2018 2017 United States $ 1,487 $ 1,406 $ 2,807 $ 2,722 $ 10,249 $ 9,548 Australia — 8 — 16 — — Brazil 5 5 10 11 49 59 Canada 19 15 33 26 66 71 Mexico 7 7 14 14 13 14 Total $ 1,518 $ 1,441 $ 2,864 $ 2,789 $ 10,377 $ 9,692

Non-controlling Interests (Tabl

Non-controlling Interests (Tables)	6 Months Ended
	Jun. 30, 2018
Noncontrolling Interest [Abstract]
Historical Cost and Redemption Values for the Non-Controlling Interests	The table below details the historical cost and redemption values for the non-controlling interests: June 30, 2018 December 31, 2017 Common OP units outstanding (millions) 8.0 8.2 Market price per Host Inc. common share $ 21.07 $ 19.85 Shares issuable upon conversion of one common OP unit 1.021494 1.021494 Redemption value (millions) $ 173 $ 167 Historical cost (millions) 80 80 Book value (millions) (1) 173 167 ___________ (1) The book value recorded is equal to the greater of redemption value or historical cost.

Organization - Additional Infor

Organization - Additional Information (Detail)	Jun. 30, 2018HotelFundCountryJointVenture
Organization Consolidation And Presentation Of Financial Statements Disclosure [Line Items]
Number of hotels	95
Other Joint Venture
Organization Consolidation And Presentation Of Financial Statements Disclosure [Line Items]
Number of hotels	10
Number of joint ventures | JointVenture	6
European Joint Venture
Organization Consolidation And Presentation Of Financial Statements Disclosure [Line Items]
Investment ownership percentage	33.00%
Number of hotels	11
Number of funds | Fund	2
Foreign operations, number of countries | Country	7
HOST HOTELS & RESORTS, INC.
Organization Consolidation And Presentation Of Financial Statements Disclosure [Line Items]
Percentage of the common OP units	99.00%

Consolidated Portfolio of Hotel

Consolidated Portfolio of Hotels by Location (Detail)	Jun. 30, 2018Hotel
Real Estate Properties [Line Items]
Hotels	95
United States
Real Estate Properties [Line Items]
Hotels	89
Brazil
Real Estate Properties [Line Items]
Hotels	3
Canada
Real Estate Properties [Line Items]
Hotels	2
Mexico
Real Estate Properties [Line Items]
Hotels	1

Summary of Significant Accoun30

Summary of Significant Accounting Policies - Additional Information (Detail)	6 Months Ended
	Jun. 30, 2018USD ($)GroundLease	Jan. 01, 2018USD ($)
Atlanta Marriott Marquis
Significant Accounting Policies [Line Items]
Environmental liabilities	$ 400,000
Maximum | Atlanta Marriott Marquis
Significant Accounting Policies [Line Items]
Environmental liabilities	$ 5,000,000
ASU 2016-02
Significant Accounting Policies [Line Items]
Number of ground leases | GroundLease	26
Percentage of annual operating lease payments	85.00%
ASU 2016-02 | Asset | Minimum
Significant Accounting Policies [Line Items]
Adjustment applied due to new accounting principle in period of adoption	$ 400,000,000
ASU 2016-02 | Asset | Maximum
Significant Accounting Policies [Line Items]
Adjustment applied due to new accounting principle in period of adoption	500,000,000
ASU 2016-02 | Liability | Minimum
Significant Accounting Policies [Line Items]
Adjustment applied due to new accounting principle in period of adoption	400,000,000
ASU 2016-02 | Liability | Maximum
Significant Accounting Policies [Line Items]
Adjustment applied due to new accounting principle in period of adoption	$ 500,000,000
ASU No. 2014-09
Significant Accounting Policies [Line Items]
Adoption of revenue recognition, description	We adopted these standards using a modified retrospective approach with a cumulative effect recognized in our equity balance on the date of adoption and no restatements of prior period amounts. When applying the new standard for the cumulative effect, we elected to apply the new standard only to contracts that were not considered completed as of the date of adoption.
Decrease in total liabilities		$ 4,500,000
Increase in total equity		$ 4,500,000
HOST HOTELS & RESORTS, INC.
Significant Accounting Policies [Line Items]
Percentage of the common OP units	99.00%
HOST HOTELS & RESORTS, INC. | Sole General Partner | Variable Interest Entities
Significant Accounting Policies [Line Items]
Percentage of the common OP units	99.00%

Earnings Per Common Share (Un31

Earnings Per Common Share (Unit) - Additional Information (Detail) - HOST HOTELS & RESORTS, INC. shares in Millions	6 Months Ended
	Jun. 30, 2018shares
Shares Subject To Mandatory Redemption By Settlement Terms [Line Items]
Common OP units outstanding	8
Number of common shares that would be outstanding if OP units were converted	8.2

Host Inc. Earnings (Loss) Per C

Host Inc. Earnings (Loss) Per Common Share (Detail) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
Earnings Per Share [Abstract]
NET INCOME	$ 211	$ 212	$ 467	$ 373
Less: Net (income) loss attributable to non-controlling interests	(2)	(2)	(5)	(5)
NET INCOME ATTRIBUTABLE TO REPORTING ENTITY	$ 209	$ 210	$ 462	$ 368
Basic weighted average shares outstanding	739.7	738.6	739.5	738.3
Assuming distribution of common shares granted under the comprehensive stock plans, less shares assumed purchased at market	0.5	0.2	0.4	0.2
Diluted weighted average shares/units outstanding	740.2	738.8	739.9	738.5
Basic earnings per common share	$ 0.28	$ 0.28	$ 0.62	$ 0.50
Diluted earnings per common share	$ 0.28	$ 0.28	$ 0.62	$ 0.50

Host LP Earnings (Loss) Per Com

Host LP Earnings (Loss) Per Common Unit (Detail) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
Earnings Per Share Diluted [Line Items]
NET INCOME	$ 211	$ 212	$ 467	$ 373
Less: Net (income) loss attributable to non-controlling interests	(2)	(2)	(5)	(5)
NET INCOME ATTRIBUTABLE TO REPORTING ENTITY	$ 209	$ 210	$ 462	$ 368
Basic weighted average shares outstanding	739.7	738.6	739.5	738.3
Assuming distribution of common units to support shares granted under the comprehensive stock plans, less shares assumed purchased at market	0.5	0.2	0.4	0.2
Diluted weighted average shares/units outstanding	740.2	738.8	739.9	738.5
Basic earnings per common share	$ 0.28	$ 0.28	$ 0.62	$ 0.50
Diluted earnings per common share	$ 0.28	$ 0.28	$ 0.62	$ 0.50
HOST HOTELS & RESORTS L.P.
Earnings Per Share Diluted [Line Items]
NET INCOME	$ 211	$ 212	$ 467	$ 373
Less: Net (income) loss attributable to non-controlling interests				(1)
NET INCOME ATTRIBUTABLE TO REPORTING ENTITY	$ 211	$ 212	$ 467	$ 372
Basic weighted average shares outstanding	732.2	731.5	732.1	731.2
Assuming distribution of common units to support shares granted under the comprehensive stock plans, less shares assumed purchased at market	0.5	0.1	0.4	0.2
Diluted weighted average shares/units outstanding	732.7	731.6	732.5	731.4
Basic earnings per common share	$ 0.29	$ 0.29	$ 0.64	$ 0.51
Diluted earnings per common share	$ 0.29	$ 0.29	$ 0.64	$ 0.51

Summary of Hotel Revenues by Ma

Summary of Hotel Revenues by Market Locations (Detail) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
Disaggregation Of Revenue [Line Items]
Total revenues	$ 1,518	$ 1,441	$ 2,864	$ 2,789
New York
Disaggregation Of Revenue [Line Items]
Total revenues	206	211	367	361
San Diego
Disaggregation Of Revenue [Line Items]
Total revenues	133	126	266	263
San Francisco/San Jose
Disaggregation Of Revenue [Line Items]
Total revenues	135	103	242	207
Washington, D.C. (Central Business District, "CBD")
Disaggregation Of Revenue [Line Items]
Total revenues	108	105	181	194
Florida Gulf Coast
Disaggregation Of Revenue [Line Items]
Total revenues	81	67	179	154
Maui/Oahu
Disaggregation Of Revenue [Line Items]
Total revenues	96	71	177	145
Phoenix
Disaggregation Of Revenue [Line Items]
Total revenues	77	62	174	160
Boston
Disaggregation Of Revenue [Line Items]
Total revenues	91	94	145	148
Orlando
Disaggregation Of Revenue [Line Items]
Total revenues	56	53	126	117
Los Angeles
Disaggregation Of Revenue [Line Items]
Total revenues	48	50	95	88
Chicago
Disaggregation Of Revenue [Line Items]
Total revenues	57	57	87	84
Atlanta
Disaggregation Of Revenue [Line Items]
Total revenues	40	42	82	85
Northern Virginia
Disaggregation Of Revenue [Line Items]
Total revenues	45	56	81	100
Houston
Disaggregation Of Revenue [Line Items]
Total revenues	31	30	63	63
Seattle
Disaggregation Of Revenue [Line Items]
Total revenues	36	35	61	61
San Antonio
Disaggregation Of Revenue [Line Items]
Total revenues	30	27	60	60
Orange County
Disaggregation Of Revenue [Line Items]
Total revenues	30	30	59	61
New Orleans
Disaggregation Of Revenue [Line Items]
Total revenues	28	26	56	54
Jacksonville
Disaggregation Of Revenue [Line Items]
Total revenues	30	29	53	51
Philadelphia
Disaggregation Of Revenue [Line Items]
Total revenues	24	23	43	40
Denver
Disaggregation Of Revenue [Line Items]
Total revenues	25	24	43	42
Miami
Disaggregation Of Revenue [Line Items]
Total revenues	13	13	32	31
Other
Disaggregation Of Revenue [Line Items]
Total revenues	67	72	135	153
United States
Disaggregation Of Revenue [Line Items]
Total revenues	1,487	1,406	2,807	2,722
International
Disaggregation Of Revenue [Line Items]
Total revenues	$ 31	$ 35	$ 57	$ 67

Summary of Property and Equipme

Summary of Property and Equipment (Detail) - USD ($) $ in Millions	Jun. 30, 2018	Dec. 31, 2017
Property Plant And Equipment [Abstract]
Land and land improvements	$ 2,120	$ 1,934
Buildings and leasehold improvements	14,262	13,529
Furniture and equipment	2,412	2,357
Construction in progress	112	106
Property, Plant and Equipment, Gross, Total	18,906	17,926
Less accumulated depreciation and amortization	(8,529)	(8,234)
Property and equipment, net	$ 10,377	$ 9,692

Debt - Additional Information (

Debt - Additional Information (Detail) $ in Millions, $ in Millions	Aug. 08, 2018USD ($)	Jun. 30, 2018USD ($)	Jun. 30, 2018CAD ($)	Jun. 30, 2018USD ($)	Jun. 30, 2017USD ($)
Debt Instrument [Line Items]
Repayment of line of credit facility				$ 75	$ 340
Revolver
Debt Instrument [Line Items]
Repayment of line of credit facility		$ 25	$ 33
Line of credit facility remaining borrowing capacity		$ 551		$ 551
Revolver | Subsequent Event
Debt Instrument [Line Items]
Repayment of line of credit facility	$ 150

Equity Allocation between Contr

Equity Allocation between Controlling and Non-Controlling Interests (Detail) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
Stockholders Equity Note [Line Items]
Beginning Balance			$ 7,002
NET INCOME ATTRIBUTABLE TO REPORTING ENTITY	$ 209	$ 210	462	$ 368
Other comprehensive loss	(13)	$ 1	(8)	$ 6
Ending Balance	7,166		7,166
HOST HOTELS & RESORTS, INC.
Stockholders Equity Note [Line Items]
Beginning Balance			7,002
Net income			462
Issuance of common stock for comprehensive stock plans, net			6
Dividends declared on common stock			(296)
Distributions to non-controlling interests			(1)
Changes in ownership and other			(4)
Other comprehensive loss			(8)
Cumulative effect of accounting change	5		5
Ending Balance	7,166		7,166
HOST HOTELS & RESORTS, INC. | Parent
Stockholders Equity Note [Line Items]
Beginning Balance			6,973
NET INCOME ATTRIBUTABLE TO REPORTING ENTITY			462
Issuance of common stock for comprehensive stock plans, net			6
Dividends declared on common stock			(296)
Changes in ownership and other			(4)
Other comprehensive loss			(8)
Cumulative effect of accounting change	5		5
Ending Balance	7,138		7,138
HOST HOTELS & RESORTS, INC. | Non-redeemable, non-controlling interest
Stockholders Equity Note [Line Items]
Beginning Balance			29
Distributions to non-controlling interests			(1)
Ending Balance	28		28
HOST HOTELS & RESORTS, INC. | Redeemable non-controlling interests
Stockholders Equity Note [Line Items]
Beginning Balance			167
Net income			5
Distributions to non-controlling interests			(3)
Changes in ownership and other			4
Ending Balance	$ 173		$ 173

Equity of Host Inc. and Capit38

Equity of Host Inc. and Capital of Host L.P. - Additional Information (Detail)	Jun. 14, 2018$ / shares	Jun. 30, 2018$ / shares	Dec. 31, 2017
HOST HOTELS & RESORTS, INC.
Stockholders Equity Note [Line Items]
Percentage of the common OP units		99.00%
Dividend declaration date	Jun. 14, 2018
Dividend per share, declared	$ 0.20
Dividend paid date	Jul. 16, 2018
Dividend record date	Jun. 29, 2018
HOST HOTELS & RESORTS L.P.
Stockholders Equity Note [Line Items]
Shares issuable upon conversion of one common OP unit		1.021494	1.021494
Common OP units, distribution paid		$ 0.2042988

Capital Allocation between Cont

Capital Allocation between Controlling and Non-Controlling Interests (Detail) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
Limited Partners Capital Account [Line Items]
Beginning Balance			$ 7,002
NET INCOME ATTRIBUTABLE TO REPORTING ENTITY	$ 209	$ 210	462	$ 368
Other comprehensive loss	(13)	1	(8)	6
Ending Balance	7,166		7,166
HOST HOTELS & RESORTS L.P.
Limited Partners Capital Account [Line Items]
Beginning Balance			7,002
NET INCOME ATTRIBUTABLE TO REPORTING ENTITY	211	212	467	372
Net income			462
Issuance of common stock for comprehensive stock plans, net			6
Distributions declared on common OP units			(296)
Distributions to non-controlling interests			(1)
Changes in ownership and other			(4)
Other comprehensive loss	(13)	$ 1	(8)	$ 6
Cumulative effect of accounting change	5		5
Ending Balance	7,166		7,166
HOST HOTELS & RESORTS L.P. | Parent
Limited Partners Capital Account [Line Items]
Beginning Balance			6,973
NET INCOME ATTRIBUTABLE TO REPORTING ENTITY			462
Issuance of common stock for comprehensive stock plans, net			6
Distributions declared on common OP units			(296)
Changes in ownership and other			(4)
Other comprehensive loss			(8)
Cumulative effect of accounting change	5		5
Ending Balance	7,138		7,138
HOST HOTELS & RESORTS L.P. | Non-controlling Interests
Limited Partners Capital Account [Line Items]
Beginning Balance			29
Distributions to non-controlling interests			(1)
Ending Balance	28		28
HOST HOTELS & RESORTS L.P. | Limited partnership interests of third parties
Limited Partners Capital Account [Line Items]
Beginning Balance			167
Net income			5
Distributions declared on common OP units			(3)
Changes in ownership and other			4
Ending Balance	$ 173		$ 173

Dispositions - Additional Infor

Dispositions - Additional Information (Detail) - USD ($) $ in Millions	May 09, 2018	Jun. 30, 2018	Jun. 30, 2017
Income Statement Balance Sheet And Additional Disclosures By Disposal Groups Including Discontinued Operations [Line Items]
Proceeds from sales of assets, net		$ 362	$ 226
W New York | Lexington Avenue
Income Statement Balance Sheet And Additional Disclosures By Disposal Groups Including Discontinued Operations [Line Items]
Proceeds from sales of assets, net	$ 190

Fair Value Measurements - Addit

Fair Value Measurements - Additional Information (Detail) - W New York – Union Square $ in Millions	3 Months Ended
	Jun. 30, 2018USD ($)
Level 3
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Fair value of property	$ 162
Depreciation and Amortization Expense
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Impairment loss	$ 13

Fair Values of Certain Financia

Fair Values of Certain Financial Liabilities and Other Financial Instruments (Detail) - USD ($) $ in Millions	Jun. 30, 2018	Dec. 31, 2017
Financial liabilities
Senior notes	$ 2,780	$ 2,778
Credit facility, carrying value	1,442	1,170
Quoted Prices in Active Markets for Identical Assets (Level 1) | Senior Notes
Financial liabilities
Senior notes (Level 1), fair value	2,810	2,932
Significant Other Observable Inputs (Level 2)
Financial liabilities
Credit facility (Level 2), fair value	$ 1,449	$ 1,178

Geographic Information - Additi

Geographic Information - Additional Information (Detail)	6 Months Ended
	Jun. 30, 2018CountrySegment
Segment Reporting Information [Line Items]
Number of reportable segments | Segment	1
Non-US
Segment Reporting Information [Line Items]
Foreign operations, number of countries | Country	3

Revenues and Long-Lived Assets

Revenues and Long-Lived Assets by Geographical Area (Detail) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017	Dec. 31, 2017
Segment Reporting Information [Line Items]
Revenues	$ 1,518	$ 1,441	$ 2,864	$ 2,789
Property and equipment, net	10,377		10,377		$ 9,692
United States
Segment Reporting Information [Line Items]
Revenues	1,487	1,406	2,807	2,722
Property and equipment, net	10,249		10,249		9,548
Australia
Segment Reporting Information [Line Items]
Revenues		8		16
Brazil
Segment Reporting Information [Line Items]
Revenues	5	5	10	11
Property and equipment, net	49		49		59
Canada
Segment Reporting Information [Line Items]
Revenues	19	15	33	26
Property and equipment, net	66		66		71
Mexico
Segment Reporting Information [Line Items]
Revenues	7	$ 7	14	$ 14
Property and equipment, net	$ 13		$ 13		$ 14

Non-Controlling Interests - Add

Non-Controlling Interests - Additional Information (Detail) $ in Millions	6 Months Ended
	Jun. 30, 2018USD ($)Entity	Dec. 31, 2017USD ($)
Minority Interest [Line Items]
Number of majority-owned partnerships that have third-party, non-controlling partners that have been consolidated | Entity	3
Non-controlling interests—other consolidated partnerships | $	$ 28	$ 29
HOST HOTELS & RESORTS L.P.
Minority Interest [Line Items]
OP units conversion basis	One common OP unit may be exchanged for 1.021494 shares of Host Inc
Shares issuable upon conversion of one OP unit	1.021494	1.021494

Historical Cost and Redemption

Historical Cost and Redemption Values for Non-Controlling Interests (Detail) $ / shares in Units, shares in Millions, $ in Millions		Jun. 30, 2018USD ($)$ / sharesshares	Dec. 31, 2017USD ($)$ / sharesshares
Shares Subject To Mandatory Redemption By Settlement Terms [Line Items]
Book value (millions)		$ 173	$ 167
HOST HOTELS & RESORTS L.P.
Shares Subject To Mandatory Redemption By Settlement Terms [Line Items]
Common OP units outstanding (millions) | shares		8	8.2
Market price per Host Inc. common share | $ / shares		$ 21.07	$ 19.85
Shares issuable upon conversion of one common OP unit		1.021494	1.021494
Redemption value (millions)		$ 173	$ 167
Historical cost (millions)		80	80
Book value (millions)	[1]	$ 173	$ 167
[1]	The book value recorded is equal to the greater of redemption value or historical cost.

Legal Proceedings - Additional

Legal Proceedings - Additional Information (Detail)	Jun. 30, 2018USD ($)
Other Litigation Cases
Loss Contingencies [Line Items]
Estimate of possible losses	$ 150,000