Host Hotels & Resorts 10-Q 31 Jul 15 2015 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Jun. 30, 2015	Jul. 30, 2015
Document And Entity Information [Line Items]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Jun. 30, 2015
Document Fiscal Year Focus	2,015
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		751,122,824
HOST HOTELS & RESORTS L.P.
Document And Entity 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, 2015	Dec. 31, 2014
ASSETS
Property and equipment, net		$ 10,776	$ 10,575
Due from managers		135	70
Advances to and investments in affiliates		419	433
Deferred financing costs, net		31	35
Furniture, fixtures and equipment replacement fund		151	129
Other		264	281
Restricted cash		3
Cash and cash equivalents		262	684
Total assets		12,041	12,207
Debt
Senior notes, including $395 million and $386 million, respectively, net of discount, of Exchangeable Senior Debentures		2,894	2,884
Credit facility		770	704
Mortgage debt		389	404
Total debt		4,053	3,992
Accounts payable and accrued expenses		230	298
Other		310	324
Total liabilities		4,593	4,614
Partnership interests		186	225
Host Hotels & Resorts, Inc. stockholders’ equity:
Common stock, par value $.01, 1,050 million shares authorized, 749.9 million shares and 755.8 million shares issued and outstanding, respectively		7	8
Additional paid-in capital		8,396	8,476
Accumulated other comprehensive loss		(84)	(50)
Deficit		(1,089)	(1,098)
Total equity of Host Hotels & Resorts, Inc. stockholders		7,230	7,336
Non-controlling interests—other consolidated partnerships		32	32
Total equity		7,262	7,368
Total liabilities, non-controlling interests and equity		12,041	12,207
Host Hotels & Resorts, L.P. capital:
Accumulated other comprehensive loss		(84)	(50)
HOST HOTELS & RESORTS L.P.
ASSETS
Property and equipment, net		10,776	10,575
Due from managers		135	70
Advances to and investments in affiliates		419	433
Deferred financing costs, net		31	35
Furniture, fixtures and equipment replacement fund		151	129
Other		264	281
Restricted cash		3
Cash and cash equivalents		262	684
Total assets		12,041	12,207
Debt
Senior notes, including $395 million and $386 million, respectively, net of discount, of Exchangeable Senior Debentures		2,894	2,884
Credit facility		770	704
Mortgage debt		389	404
Total debt		4,053	3,992
Accounts payable and accrued expenses		230	298
Other		310	324
Total liabilities		4,593	4,614
Partnership interests	[1]	186	225
Host Hotels & Resorts, Inc. stockholders’ equity:
Accumulated other comprehensive loss		(84)	(50)
Total equity		7,262	7,368
Total liabilities, non-controlling interests and equity		12,041	12,207
Host Hotels & Resorts, L.P. capital:
General partner		1	1
Limited partner		7,313	7,385
Accumulated other comprehensive loss		(84)	(50)
Total Host Hotels & Resorts, L.P. capital		7,230	7,336
Non-controlling interests—consolidated partnerships		32	32
Total capital		$ 7,262	$ 7,368
[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, 2015	Dec. 31, 2014
Senior notes	$ 395	$ 386
Credit facility	$ 770	$ 704
Common stock, par value	$ 0.01	$ 0.01
Common stock, shares authorized	1,050,000,000	1,050,000,000
Common stock, shares issued	749,900,000	755,800,000
Common stock, shares outstanding	749,900,000	755,800,000
HOST HOTELS & RESORTS L.P.
Senior notes	$ 395	$ 386
Credit facility	770	704
Term Loan
Credit facility	500	500
Term Loan | HOST HOTELS & RESORTS L.P.
Credit facility	$ 500	$ 500

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
REVENUES
Rooms	$ 937	$ 921	$ 1,755	$ 1,729
Food and beverage	420	415	823	820
Other	92	95	188	191
Total revenues	1,449	1,431	2,766	2,740
EXPENSES
Rooms	233	234	453	460
Food and beverage	289	285	572	569
Other departmental and support expenses	330	320	651	635
Management fees	68	66	120	116
Other property-level expenses	99	98	197	195
Depreciation and amortization	180	174	355	346
Corporate and other expenses	23	29	47	63
Gain on insurance settlements				(3)
Total operating costs and expenses	1,222	1,206	2,395	2,381
OPERATING PROFIT	227	225	371	359
Interest income	1	1	2	2
Interest expense	(73)	(55)	(124)	(113)
Gain on sale of assets	53		57	111
Loss on foreign currency transactions and derivatives	(1)	(1)	(2)	(1)
Equity in earnings (losses) of affiliates	22	4	20	(3)
INCOME BEFORE INCOME TAXES	229	174	324	355
Provision for income taxes	(13)	(15)	(4)	(11)
NET INCOME	216	159	320	344
Less: Net income attributable to non-controlling interests	(4)	(4)	(10)	(10)
NET INCOME ATTRIBUTABLE TO REPORTING ENTITY	$ 212	$ 155	$ 310	$ 334
Basic earnings per common share	$ 0.28	$ 0.21	$ 0.41	$ 0.44
Diluted earnings per common share	$ 0.28	$ 0.21	$ 0.41	$ 0.44
HOST HOTELS & RESORTS L.P.
REVENUES
Rooms	$ 937	$ 921	$ 1,755	$ 1,729
Food and beverage	420	415	823	820
Other	92	95	188	191
Total revenues	1,449	1,431	2,766	2,740
EXPENSES
Rooms	233	234	453	460
Food and beverage	289	285	572	569
Other departmental and support expenses	330	320	651	635
Management fees	68	66	120	116
Other property-level expenses	99	98	197	195
Depreciation and amortization	180	174	355	346
Corporate and other expenses	23	29	47	63
Gain on insurance settlements				(3)
Total operating costs and expenses	1,222	1,206	2,395	2,381
OPERATING PROFIT	227	225	371	359
Interest income	1	1	2	2
Interest expense	(73)	(55)	(124)	(113)
Gain on sale of assets	53		57	111
Loss on foreign currency transactions and derivatives	(1)	(1)	(2)	(1)
Equity in earnings (losses) of affiliates	22	4	20	(3)
INCOME BEFORE INCOME TAXES	229	174	324	355
Provision for income taxes	(13)	(15)	(4)	(11)
NET INCOME	216	159	320	344
Less: Net income attributable to non-controlling interests	(1)	(2)	(6)	(5)
NET INCOME ATTRIBUTABLE TO REPORTING ENTITY	$ 215	$ 157	$ 314	$ 339
Basic earnings per common share	$ 0.29	$ 0.21	$ 0.42	$ 0.45
Diluted earnings per common share	$ 0.29	$ 0.21	$ 0.42	$ 0.45

CONDENSED CONSOLIDATED STATEME5

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) (Unaudited) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
NET INCOME	$ 216	$ 159	$ 320	$ 344
OTHER COMPREHENSIVE INCOME (LOSS), NET OF TAX:
Foreign currency translation and other comprehensive income (loss) of unconsolidated affiliates	3	4	(44)	11
Change in fair value of derivative instruments		1	15	1
Amounts reclassified from other comprehensive income (loss)			(5)
OTHER COMPREHENSIVE INCOME (LOSS), NET OF TAX	3	5	(34)	12
COMPREHENSIVE INCOME	219	164	286	356
Less: Comprehensive income attributable to non-controlling interests	(4)	(4)	(10)	(10)
COMPREHENSIVE INCOME ATTRIBUTABLE TO REPORTING ENTITY	215	160	276	346
HOST HOTELS & RESORTS L.P.
NET INCOME	216	159	320	344
OTHER COMPREHENSIVE INCOME (LOSS), NET OF TAX:
Foreign currency translation and other comprehensive income (loss) of unconsolidated affiliates	3	4	(44)	11
Change in fair value of derivative instruments		1	15	1
Amounts reclassified from other comprehensive income (loss)			(5)
OTHER COMPREHENSIVE INCOME (LOSS), NET OF TAX	3	5	(34)	12
COMPREHENSIVE INCOME	219	164	286	356
Less: Comprehensive income attributable to non-controlling interests	(1)	(2)	(6)	(5)
COMPREHENSIVE INCOME ATTRIBUTABLE TO REPORTING ENTITY	$ 218	$ 162	$ 280	$ 351

CONDENSED CONSOLIDATED STATEME6

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014
OPERATING ACTIVITIES
NET INCOME	$ 320	$ 344
Adjustments to reconcile to cash provided by operations:
Depreciation and amortization	355	346
Amortization of finance costs, discounts and premiums, net	13	13
Non-cash loss on extinguishment of debt	6	2
Stock compensation expense	8	10
Deferred income taxes	(1)	(3)
Gain on sale of assets	(57)	(111)
Loss on foreign currency transactions and derivatives	2	1
Equity in (earnings) losses of affiliates	(20)	3
Change in due from managers	(60)	(76)
Distributions from equity investments	7
Changes in other assets	33	6
Changes in other liabilities	(44)	(10)
Cash provided by operating activities	562	525
INVESTING ACTIVITIES
Proceeds from sales of assets, net	174	274
Return of investment		42
Acquisitions	(402)	(73)
Advances to and investments in affiliates	(2)	(32)
Capital expenditures:
Renewals and replacements	(220)	(147)
Redevelopment and acquisition-related investments	(101)	(36)
New development		(5)
Change in furniture, fixtures and equipment ("FF&E") replacement fund	(12)	(11)
Change in restricted cash for investing activities	(3)
Cash provided by (used in) investing activities	(566)	12
FINANCING ACTIVITIES
Financing costs	(4)	(4)
Issuances of debt	499
Draws on credit facility	250
Repayment of credit facility	(170)	(225)
Repurchase/redemption of senior notes	(500)	(150)
Mortgage debt and other prepayments and scheduled maturities		(373)
Common stock repurchase	(131)
Dividends on common stock	(348)	(204)
Other financing activities	(6)	(4)
Cash used in financing activities	(410)	(960)
Effects of exchange rate changes on cash held	(8)	2
DECREASE IN CASH AND CASH EQUIVALENTS	(422)	(421)
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD	684	861
CASH AND CASH EQUIVALENTS, END OF PERIOD	262	440
Supplemental disclosure of cash flow information:
Interest paid - periodic interest expense	88	93
Interest paid - debt extinguishments	15	2
Total interest paid	103	95
Income taxes paid	6	14
HOST HOTELS & RESORTS L.P.
OPERATING ACTIVITIES
NET INCOME	320	344
Adjustments to reconcile to cash provided by operations:
Depreciation and amortization	355	346
Amortization of finance costs, discounts and premiums, net	13	13
Non-cash loss on extinguishment of debt	6	2
Stock compensation expense	8	10
Deferred income taxes	(1)	(3)
Gain on sale of assets	(57)	(111)
Loss on foreign currency transactions and derivatives	2	1
Equity in (earnings) losses of affiliates	(20)	3
Change in due from managers	(60)	(76)
Distributions from equity investments	7
Changes in other assets	33	6
Changes in other liabilities	(44)	(10)
Cash provided by operating activities	562	525
INVESTING ACTIVITIES
Proceeds from sales of assets, net	174	274
Return of investment		42
Acquisitions	(402)	(73)
Advances to and investments in affiliates	(2)	(32)
Capital expenditures:
Renewals and replacements	(220)	(147)
Redevelopment and acquisition-related investments	(101)	(36)
New development		(5)
Change in furniture, fixtures and equipment ("FF&E") replacement fund	(12)	(11)
Change in restricted cash for investing activities	(3)
Cash provided by (used in) investing activities	(566)	12
FINANCING ACTIVITIES
Financing costs	(4)	(4)
Issuances of debt	499
Draws on credit facility	250
Repayment of credit facility	(170)	(225)
Repurchase/redemption of senior notes	(500)	(150)
Mortgage debt and other prepayments and scheduled maturities		(373)
Repurchase of common OP units	(131)
Distributions on common OP units	(352)	(207)
Other financing activities	(2)	(1)
Cash used in financing activities	(410)	(960)
Effects of exchange rate changes on cash held	(8)	2
DECREASE IN CASH AND CASH EQUIVALENTS	(422)	(421)
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD	684	861
CASH AND CASH EQUIVALENTS, END OF PERIOD	262	440
Supplemental disclosure of cash flow information:
Interest paid - periodic interest expense	88	93
Interest paid - debt extinguishments	15	2
Total interest paid	103	95
Income taxes paid	$ 6	$ 14

Organization

Organization	6 Months Ended
	Jun. 30, 2015
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 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, 2015, Host Inc. holds approximately 99% of Host L.P.’s OP units. Consolidated Portfolio As of June 30, 2015, our consolidated portfolio, primarily consisting of luxury and upper upscale hotels, is located in the following countries: Hotels United States 95 Australia 1 Brazil 3 Canada 2 Chile 2 Mexico 1 New Zealand 7 Total 111 International Joint Ventures We own a non-controlling interest in a joint venture in Europe (“Euro JV”) that owns hotels in two separate funds. We own a 32.1% interest in the first fund (“Euro JV Fund I”) (9 hotels) and a 33.4% interest in the second fund (“Euro JV Fund II”) (9 hotels). As of June 30, 2015, the Euro JV owned hotels located in the following countries: Hotels Belgium 3 France 4 Germany 2 Italy 3 Poland 1 Spain 2 Sweden 1 The Netherlands 1 United Kingdom 1 Total 18 In addition, our joint venture in Asia (“Asia/Pacific JV”), in which we own a 25% non-controlling interest, owns one hotel in Australia and a non-controlling interest in an entity that owns three operating hotels and four additional hotels in various stages of development in India.

Summary of Significant Accounti

Summary of Significant Accounting Policies	6 Months Ended
	Jun. 30, 2015
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, 2014. 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 financial statements reflect all adjustments necessary to present fairly our financial position as of June 30, 2015, and the results of our operations for the quarter and year-to-date periods ended June 30, 2015 and 2014, respectively, and cash flows for the year-to-date periods ended June 30, 2015 and 2014, respectively. Interim results are not necessarily indicative of full year performance because of the impact of seasonal variations. New Accounting Standards In April 2015, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) No. 2015-03, Interest—Imputation of Interest (Subtopic 835-30): Simplifying the Presentation of Debt Issuance Costs In February 2015, the FASB issued ASU 2015-02, Amendments to the Consolidation Analysis In May 2014, the FASB issued ASU No. 2014-09, Revenue from Contracts with Customers (Topic 606)

Earnings Per Common Share (Unit

Earnings Per Common Share (Unit)	6 Months Ended
	Jun. 30, 2015
Earnings Per Share [Abstract]
Earnings Per Common Share (Unit)	3. Earnings Per Common Share (Unit) Host Inc. Earnings Per Common Share Basic earnings per common share is computed by dividing net income attributable to common stockholders by the weighted average number of shares of Host Inc. common stock outstanding. Diluted earnings per common share is computed by dividing net income attributable to common stockholders, as adjusted for potentially dilutive securities, by the weighted average number of shares of Host Inc. common stock outstanding plus other potentially dilutive securities. Dilutive securities may include shares granted under comprehensive stock plans, other non-controlling interests that have the option to convert their limited partnership interests to common OP units and convertible debt securities. No effect is shown for any securities that are anti-dilutive. We have 9.2 million OP units which are convertible into 9.4 million common shares which are not included in Host Inc.’s calculation of earnings per share as their effect is not dilutive. The calculation of 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, 2015 2014 2015 2014 Net income $ 216 $ 159 $ 320 $ 344 Less: Net income attributable to non-controlling interests (4 ) (4 ) (10 ) (10 ) Net income attributable to Host Inc. 212 155 310 334 Assuming conversion of exchangeable senior debentures 7 — — — Diluted income attributable to Host Inc. $ 219 $ 155 $ 310 $ 334 Basic weighted average shares outstanding 753.9 755.4 755.0 755.1 Assuming weighted average shares for conversion of exchangeable senior debentures 31.2 — — — Assuming distribution of common shares granted under the comprehensive stock plans, less shares assumed purchased at market 0.4 0.5 0.4 0.5 Diluted weighted average shares outstanding (1) 785.5 755.9 755.4 755.6 Basic earnings per common share $ .28 $ .21 $ .41 $ .44 Diluted earnings per common share $ .28 $ .21 $ .41 $ .44 ___________ (1) There were approximately 31 million potentially dilutive shares for the year-to-date period ended June 30, 2015, and approximately 30 million potentially dilutive units for both the quarter and year-to-date periods ended June 30, 2014, related to our exchangeable senior debentures, which shares were not included in the computation of diluted earnings per share because to do so would have been anti-dilutive for the period. Host L.P. Earnings Per Common Unit Basic earnings per common unit is computed by dividing net income attributable to common unitholders by the weighted average number of common units outstanding. Diluted earnings per common unit is computed by dividing net income attributable to common unitholders, as adjusted for potentially dilutive securities, by the weighted average number of common units outstanding plus other potentially dilutive securities. Dilutive securities may include units distributed to Host Inc. to support Host Inc. common shares granted under comprehensive stock plans, other non-controlling interests that have the option to convert their limited partnership interests to common OP units and convertible debt securities. No effect is shown for any securities that are anti-dilutive. The calculation of 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, 2015 2014 2015 2014 Net income $ 216 $ 159 $ 320 $ 344 Less: Net income attributable to non-controlling interests (1 ) (2 ) (6 ) (5 ) Net income attributable to Host L.P. 215 157 314 339 Assuming conversion of exchangeable senior debentures 7 — — — Diluted income attributable to Host L.P. $ 222 $ 157 $ 314 $ 339 Basic weighted average units outstanding 747.3 748.9 748.3 748.7 Assuming weighted average units for conversion of exchangeable senior debentures 30.5 — — — Assuming distribution of common units granted under the comprehensive stock plans, less units assumed purchased at market 0.3 0.6 0.4 0.5 Diluted weighted average units outstanding (1) 778.1 749.5 748.7 749.2 Basic earnings per common unit $ .29 $ .21 $ .42 $ .45 Diluted earnings per common unit $ .29 $ .21 $ .42 $ .45 ___________ (1) There were approximately 30 million potentially dilutive units for the year-to-date ended June 30, 2015, and approximately 30 million and 29 million potentially dilutive shares for the quarter and year-to-date periods ended June 30, 2014, respectively, related to our exchangeable senior debentures, which units were not included in the computation of diluted earnings per unit because to do so would have been anti-dilutive for the period.

Property and Equipment

Property and Equipment	6 Months Ended
	Jun. 30, 2015
Property Plant And Equipment [Abstract]
Property and Equipment	4. Property and Equipment Property and equipment consists of the following (in millions): June 30, 2015 December 31, 2014 Land and land improvements $ 2,047 $ 1,990 Buildings and leasehold improvements 13,665 13,336 Furniture and equipment 2,281 2,217 Construction in progress 165 209 18,158 17,752 Less accumulated depreciation and amortization (7,382 ) (7,177 ) $ 10,776 $ 10,575

Debt

Debt	6 Months Ended
	Jun. 30, 2015
Debt Disclosure [Abstract]
Debt	5. Debt Senior notes. On May 15, 2015, we issued $500 million of 4% Series E senior notes due June of 2025 for net proceeds of approximately $495 million. Interest on the Series E senior notes is payable semi-annually in arrears on June 15 and December 15, commencing June 15, 2015. In contemplation of this issuance, we entered into interest rate hedging transactions that reduced our effective interest rate on the 4% Series E senior notes to 3.93%. The net proceeds from the issuance of the Series E senior notes, along with cash on hand, were used on June 15, 2015 to redeem $500 million of 5 7/8 Credit facility. During the quarter, we had net borrowings under the revolver portion of our credit facility of $80 million. As of June 30, 2015, we have $730 million of available capacity under the credit facility.

Investment in Affiliates

Investment in Affiliates	6 Months Ended
	Jun. 30, 2015
Investments In And Advances To Affiliates Schedule Of Investments [Abstract]
Investment in Affiliates	6 . Investment in Affiliates On June 5, 2015 the Euro JV Fund I sold the Crowne Plaza Hotel Amsterdam City Centre for €106 million ($118 million), which includes the €3 million ($3 million) FF&E reserve, for a gain of approximately €36 million ($40 million). In connection with the sale, the Euro JV Fund I repaid the

Equity of Host Inc. and Capital

Equity of Host Inc. and Capital of Host L.P.	6 Months Ended
	Jun. 30, 2015
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, 2014 $ 7,336 $ 32 $ 7,368 $ 225 Net income 310 6 316 4 Issuance of common stock 12 — 12 — Repurchase of common stock (131 ) — (131 ) — Dividends declared on common stock (301 ) — (301 ) — Distributions to non-controlling interests — (5 ) (5 ) (4 ) Other changes in ownership 38 (1 ) 37 (39 ) Other comprehensive loss (34 ) — (34 ) — Balance, June 30, 2015 $ 7,230 $ 32 $ 7,262 $ 186 Capital of Host L.P. As of June 30, 2015, 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 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 OP unit. In exchange for any shares issued by Host Inc., Host L.P. will issue 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): Limited Non- Partnership Capital of controlling Total Interests of Host L.P. Interests Capital Third Balance, December 31, 2014 $ 7,336 $ 32 $ 7,368 $ 225 Net income 310 6 316 4 Issuance of common OP units 12 — 12 — Repurchase of common OP units (131 ) — (131 ) — Distributions declared on common OP units (301 ) — (301 ) (4 ) Distributions to non-controlling interests — (5 ) (5 ) — Other changes in ownership 38 (1 ) 37 (39 ) Other comprehensive loss (34 ) — (34 ) — Balance, June 30, 2015 $ 7,230 $ 32 $ 7,262 $ 186 Dividends/Distributions On June 11, 2015, 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 15, 2015 to stockholders of record as of June 30, 2015. Accordingly, Host L.P. made a distribution of $0.2042988 per unit on its common OP units based on the current conversion ratio. Share Host Inc.’s Board of Directors has authorized a program to repurchase up to $500 million of common stock. The common stock may be purchased in the open market or through private transactions from time to time through December 31, 2016, dependent upon market conditions. The plan does not obligate us to repurchase any specific number of shares and may be suspended at any time at management’s discretion. As of June 30, 2015, the Company has repurchased 6.55 million shares at an average price of $20.07 for a total purchase price of approximately $131 million. The shares repurchased constitute authorized but unissued shares. We have $369 million of repurchase capacity remaining under the program.

Dispositions

Dispositions	6 Months Ended
	Jun. 30, 2015
Disposal Group Not Discontinued Operation Disposal Disclosures [Abstract]
Dispositions	8. Dispositions On June 23, 2015, we sold the Park Ridge Marriott and the Chicago Marriott O’Hare for approximately $89 million. Additionally, on June 3, 2015, we sold the Sheraton Needham for approximately $54 million. The following table provides summary results of operations for the four hotels sold in 2015 and the five hotels sold in 2014, which are included in continuing operations (in millions): Quarter ended June 30, Year-to-date ended June 30, 2015 2014 2015 2014 Revenues $ 16 $ 45 $ 32 $ 89 Income before taxes 2 7 — 10 Gain on disposals 53 — 56 111

Acquisitions

Acquisitions	6 Months Ended
	Jun. 30, 2015
Business Combinations [Abstract]
Acquisitions	9 . Acquisitions On June 8, 2015, we acquired The Phoenician, a 643-room Luxury Collection resort, in Scottsdale, Arizona for $400 million. In connection with the acquisition, we incurred $1 million of acquisition costs. Accounting for the acquisition requires an allocation of the purchase price to the assets acquired and the liabilities assumed at their respective estimated fair values. The purchase price allocations are estimated based on currently available information; however, we still are in the process of obtaining appraisals and finalizing the accounting for the acquisition. The following table summarizes the estimated fair value of the assets acquired and liabilities assumed related to this acquisition (in millions): Property and equipment $ 400 Other assets 1 Total assets 401 Other liabilities (1 ) Net assets acquired $ 400 Our summarized unaudited consolidated pro forma results of operations, assuming the acquisition completed during 2015 occurred on January 1, 2014, are as follows (in millions, except per share and per unit amounts): Quarter ended June 30, Year-to-date ended June 30, 2015 2014 2015 2014 Revenues $ 1,478 $ 1,461 $ 2,838 $ 2,810 Income from continuing operations 226 163 345 361 Net income 226 163 345 361 Host Inc.: Net income attributable to Host Inc. $ 222 $ 159 $ 335 $ 351 Basic earnings per common share $ .29 $ .21 $ .44 $ .46 Diluted earnings per common share $ .29 $ .21 $ .44 $ .46 Host L.P.: Net income attributable to Host L.P. $ 225 $ 161 $ 339 $ 356 Basic earnings per common unit $ .30 $ .21 $ .45 $ .48 Diluted earnings per common unit $ .30 $ .21 $ .45 $ .48 The above pro forma results of operations exclude $1 million of acquisition costs for both the quarter and year-to-date periods ended June 30, 2015. The condensed consolidated statements of operations for both the quarter and year-to-date periods ended June 30, 2015 include approximately $5 million of revenues and $1 million of net loss for both the quarter and year-to-date periods ended June 30, 2015 related to our 2015 acquisition.

Fair Value Measurements

Fair Value Measurements	6 Months Ended
	Jun. 30, 2015
Fair Value Disclosures [Abstract]
Fair Value Measurements	10. Fair Value Measurements The following tables detail the fair value of our financial assets and liabilities that are required to be measured at fair value on a recurring basis, as well as non-recurring fair value measurements, at June 30, 2015 and December 31, 2014, respectively (in millions): Fair Value at Measurement Date Using Balance at June 30, 2015 Quoted Prices in Active Markets for Identical Assets (Level 1) Significant (Level 2) Significant Unobservable Inputs (Level 3) Fair Value Measurements on a Recurring Basis: Assets Foreign currency forward sale contracts (1) $ 24 $ — $ 24 $ — Liabilities Interest rate swap derivatives (1) (2 ) — (2 ) — Fair Value at Measurement Date Using Balance at December 31, 2014 Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Fair Value Measurements on a Recurring Basis: Assets Foreign currency forward sale contracts (1) $ 13 $ — $ 13 $ — Liabilities Interest rate swap derivatives (1) (2 ) — (2 ) — Fair Value Measurements on a Non-recurring Basis: Impaired hotel properties sold (2) — — — 18 ___________ (1) These derivative contracts have been designated as hedging instruments. (2) The fair value measurements are as of the measurement date of the impairment and may not reflect the book value as of December 31, 2014. Derivatives and Hedging Interest rate swap derivatives designated as cash flow hedges. We have designated our floating-to-fixed interest rate swap derivatives as cash flow hedges. The purpose of the interest rate swaps is to hedge against changes in cash flows (interest payments) attributable to fluctuations in variable rate debt. The derivatives are valued based on the prevailing market yield curve on the date of measurement. We also evaluate counterparty credit risk when we calculate the fair value of the swaps. Changes in the fair value of the derivatives are recorded to other comprehensive income (loss) on the accompanying balance sheets. The hedges were fully effective as of June 30, 2015. During 2015, in contemplation of issuing the 4% Series E senior notes, we entered into three forward swaps and two treasury locks for total notional amounts of $150 million and $200 million, respectively. The purpose of the forward swaps and treasury locks was to hedge against changes in interest-related cash flows (forecast interest payments) on an issuance of long-term debt. The forward swaps hedged the risk of changes in the 3-month LIBOR rate over a 10-year period and the treasury locks hedged the risk of changes in the 10-year U.S. Treasury rate. Subsequent to the pricing date of the 4% Series E senior notes, we net settled the three forward swaps and two treasury locks for total proceeds of approximately $4 million. The gain on the forward swaps and treasury locks has been recorded to other comprehensive income and will be amortized over the 10-year life of the Series E senior notes, as a reduction to interest expense. For the second quarter and year-to-date 2015, there was no material change in the fair value of our interest rate swap derivatives designated as cash flow hedges. The following table summarizes our outstanding contracts (in millions): Total Notional Maturity Swapped All-in- Transaction Date Amount Date Index Rate November 2011 (1) A$ 62 November Reuters BBSY 6.7 % February 2011 (2) NZ$ 79 February 2016 NZ$ Bank Bill 7.15 % ___________ (1) The swap was entered into in connection with the A$86 million ($66 million) mortgage loan on the Hilton Melbourne South Wharf. (2) The swap was entered into in connection with the NZ$105 million ($71 million) mortgage loan on seven properties in New Zealand. Foreign Investment Hedging Instruments. We have five foreign currency forward sale contracts that hedge a portion of the foreign currency exposure resulting from the eventual repatriation of our net investment in foreign operations. These derivatives are considered hedges of the foreign currency exposure of a net investment in a foreign operation and are marked-to-market with changes in fair value recorded to other comprehensive income (loss) within the equity portion of our balance sheet. The foreign currency forward sale contracts are valued based on the forward yield curve of the foreign currency to U.S. dollar forward exchange rate on the date of measurement. We also evaluate counterparty credit risk when we calculate the fair value of the derivatives. The following table summarizes our foreign currency forward sale contracts (in millions): Currently Outstanding Change in Fair Value - All Contracts Total Transaction Amount in Total Transaction Gain (Loss) Gain (Loss) Transaction Date Foreign Amount Forward Quarter ended June 30, Year-to-date ended June 30, Range Currency in Dollars Date Range 2015 2014 2015 2014 July 2011-May 2014 € 100 $ 135 August 2015-May 2017 $ (4 ) $ 1 $ 10 $ 1 November 2014 C$ 25 $ 22 November 2016 $ — $ — $ 1 $ — In addition to the foreign currency forward sale contracts, we have designated a portion of the foreign currency draws on our credit facility as hedges of net investments in foreign operations. Changes in fair value of the designated credit facility draws are recorded to other comprehensive income (loss). The following table summarizes the draws on our credit facility that are designated as hedges of net investments in foreign operations (in millions): Balance Balance Gain (Loss) Gain (Loss) Outstanding Outstanding in Quarter ended June 30, Year-to-date ended June 30, Currency US$ Foreign Currency 2015 2014 2015 2014 Canadian dollars (1) $ 37 C$ 46 $ (1 ) $ (1 ) $ 1 $ — Euros $ 86 € 77 $ (3 ) $ 1 $ 7 $ 1 ___________ (1) We have drawn an additional $49 million on the credit facility in Canadian dollars, which draw has not been designated as a hedging instrument. 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 secured debt and our credit facility are determined based on the expected future payments discounted at risk-adjusted rates. Senior Notes and the Exchangeable Senior Debentures 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, 2015 December 31, 2014 Carrying Amount Fair Value Carrying Amount Fair Value Financial liabilities Senior notes (Level 1) $ 2,499 $ 2,608 $ 2,498 $ 2,668 Exchangeable Senior Debentures (Level 1) 395 621 386 739 Credit facility (Level 2) 770 770 704 704 Mortgage debt and other, excluding capital leases (Level 388 396 403 413

Geographic Information

Geographic Information	6 Months Ended
	Jun. 30, 2015
Segment Reporting [Abstract]
Geographic Information	11. 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 segment: hotel ownership. Our consolidated foreign operations consist of hotels in six countries. There were no intersegment sales during the periods presented. The following table presents total revenues and property and equipment for each of the geographical areas in which we operate (in millions): Revenues Revenues Property and Equipment, net Quarter ended June 30, Year-to-date ended June 30, June 30, December 31, 2015 2014 2015 2014 2015 2014 United States $ 1,394 $ 1,358 $ 2,652 $ 2,601 $ 10,373 $ 10,111 Australia 8 10 17 19 95 102 Brazil 8 12 15 19 69 82 Canada 15 24 29 44 66 82 Chile 6 8 13 16 42 44 Mexico 7 7 14 14 22 26 New Zealand 11 12 26 27 109 128 Total $ 1,449 $ 1,431 $ 2,766 $ 2,740 $ 10,776 $ 10,575

Non-Controlling Interests

Non-Controlling Interests	6 Months Ended
	Jun. 30, 2015
Noncontrolling Interest [Abstract]
Non-Controlling Interests	12. Non-controlling Interests Other Consolidated Partnerships. We consolidate six majority-owned partnerships that have third-party, non-controlling ownership interests. The third-party partnership interests are included in non-controlling interests — other consolidated partnerships on the balance sheets and totaled $32 million for both June 30, 2015 and December 31, 2014. Two of the partnerships have finite lives that terminate between 2081 and 2095, and the associated non-controlling interests are mandatorily redeemable at our option at the end of, but not prior to, the finite life. At June 30, 2015 and December 31, 2014, the fair values of the non-controlling interests in the partnerships with finite lives were approximately $94 million and $85 million, respectively. Net income attributable to non-controlling interests of consolidated partnerships is included in our determination of net income. Net income attributable to non-controlling interests of third parties was $1 million and $2 million for the quarters ended June 30, 2015 and 2014, respectively, and $6 million and $5 million for the year-to-date periods ended June 30, 2015 and 2014, respectively. 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 into 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, 2015 December 31, 2014 OP units outstanding (millions) 9.2 9.3 Market price per Host Inc. common share $ 19.83 $ 23.77 Shares issuable upon conversion of one OP unit 1.021494 1.021494 Redemption value (millions) $ 186 $ 225 Historical cost (millions) 92 94 Book value (millions) (1) 186 225 ___________ ( 1 ) The book value recorded is equal to the greater of redemption value or historical cost. Net income is allocated to the non-controlling interests of Host L.P. based on their weighted average ownership interest during the period. Net income attributable to the non-controlling interests of Host L.P. for the quarter and year-to- date periods ended June 30, 2015 was $3 million and $4 million, respectively. The income attributable to the non-controlling interests of Host L.P. for the quarter and year-to-date periods ended June 30, 2014 was $2 million and $5 million, respectively.

Legal Proceedings

Legal Proceedings	6 Months Ended
	Jun. 30, 2015
Commitments And Contingencies Disclosure [Abstract]
Legal Proceedings	13. 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 accrued approximately $4 million as of June 30, 2015 for liabilities related to legal proceedings and estimate that, in the aggregate, our losses related to these proceedings will not exceed $10 million. We believe this range represents the maximum potential loss for all of our legal proceedings. We are not aware of any other 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 Accoun20

Summary of Significant Accounting Policies (Policies)	6 Months Ended
	Jun. 30, 2015
Accounting Policies [Abstract]
New Accounting Standards	New Accounting Standards In April 2015, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) No. 2015-03, Interest—Imputation of Interest (Subtopic 835-30): Simplifying the Presentation of Debt Issuance Costs In February 2015, the FASB issued ASU 2015-02, Amendments to the Consolidation Analysis In May 2014, the FASB issued ASU No. 2014-09, Revenue from Contracts with Customers (Topic 606)

Organization (Tables)

Organization (Tables)	6 Months Ended
	Jun. 30, 2015
Consolidated Portfolio of Hotels by Location	As of June 30, 2015, our consolidated portfolio, primarily consisting of luxury and upper upscale hotels, is located in the following countries: Hotels United States 95 Australia 1 Brazil 3 Canada 2 Chile 2 Mexico 1 New Zealand 7 Total 111
European Joint Venture
Consolidated Portfolio of Hotels by Location	As of June 30, 2015, the Euro JV owned hotels located in the following countries: Hotels Belgium 3 France 4 Germany 2 Italy 3 Poland 1 Spain 2 Sweden 1 The Netherlands 1 United Kingdom 1 Total 18

Earnings Per Common Share (Un22

Earnings Per Common Share (Unit) (Tables)	6 Months Ended
	Jun. 30, 2015
Earnings Per Common Share (Unit)	The calculation of 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, 2015 2014 2015 2014 Net income $ 216 $ 159 $ 320 $ 344 Less: Net income attributable to non-controlling interests (4 ) (4 ) (10 ) (10 ) Net income attributable to Host Inc. 212 155 310 334 Assuming conversion of exchangeable senior debentures 7 — — — Diluted income attributable to Host Inc. $ 219 $ 155 $ 310 $ 334 Basic weighted average shares outstanding 753.9 755.4 755.0 755.1 Assuming weighted average shares for conversion of exchangeable senior debentures 31.2 — — — Assuming distribution of common shares granted under the comprehensive stock plans, less shares assumed purchased at market 0.4 0.5 0.4 0.5 Diluted weighted average shares outstanding (1) 785.5 755.9 755.4 755.6 Basic earnings per common share $ .28 $ .21 $ .41 $ .44 Diluted earnings per common share $ .28 $ .21 $ .41 $ .44 ___________ (1) There were approximately 31 million potentially dilutive shares for the year-to-date period ended June 30, 2015, and approximately 30 million potentially dilutive units for both the quarter and year-to-date periods ended June 30, 2014, related to our exchangeable senior debentures, which shares were not included in the computation of diluted earnings per share because to do so would have been anti-dilutive for the period.
HOST HOTELS & RESORTS L.P.
Earnings Per Common Share (Unit)	The calculation of 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, 2015 2014 2015 2014 Net income $ 216 $ 159 $ 320 $ 344 Less: Net income attributable to non-controlling interests (1 ) (2 ) (6 ) (5 ) Net income attributable to Host L.P. 215 157 314 339 Assuming conversion of exchangeable senior debentures 7 — — — Diluted income attributable to Host L.P. $ 222 $ 157 $ 314 $ 339 Basic weighted average units outstanding 747.3 748.9 748.3 748.7 Assuming weighted average units for conversion of exchangeable senior debentures 30.5 — — — Assuming distribution of common units granted under the comprehensive stock plans, less units assumed purchased at market 0.3 0.6 0.4 0.5 Diluted weighted average units outstanding (1) 778.1 749.5 748.7 749.2 Basic earnings per common unit $ .29 $ .21 $ .42 $ .45 Diluted earnings per common unit $ .29 $ .21 $ .42 $ .45 ___________ (1) There were approximately 30 million potentially dilutive units for the year-to-date ended June 30, 2015, and approximately 30 million and 29 million potentially dilutive shares for the quarter and year-to-date periods ended June 30, 2014, respectively, related to our exchangeable senior debentures, which units were not included in the computation of diluted earnings per unit because to do so would have been anti-dilutive for the period.

Property and Equipment (Tables)

Property and Equipment (Tables)	6 Months Ended
	Jun. 30, 2015
Property Plant And Equipment [Abstract]
Property and Equipment	Property and equipment consists of the following (in millions): June 30, 2015 December 31, 2014 Land and land improvements $ 2,047 $ 1,990 Buildings and leasehold improvements 13,665 13,336 Furniture and equipment 2,281 2,217 Construction in progress 165 209 18,158 17,752 Less accumulated depreciation and amortization (7,382 ) (7,177 ) $ 10,776 $ 10,575

Equity of Host Inc. and Capit24

Equity of Host Inc. and Capital of Host L.P. (Tables)	6 Months Ended
	Jun. 30, 2015
Equity [Abstract]
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, 2014 $ 7,336 $ 32 $ 7,368 $ 225 Net income 310 6 316 4 Issuance of common stock 12 — 12 — Repurchase of common stock (131 ) — (131 ) — Dividends declared on common stock (301 ) — (301 ) — Distributions to non-controlling interests — (5 ) (5 ) (4 ) Other changes in ownership 38 (1 ) 37 (39 ) Other comprehensive loss (34 ) — (34 ) — Balance, June 30, 2015 $ 7,230 $ 32 $ 7,262 $ 186
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): Limited Non- Partnership Capital of controlling Total Interests of Host L.P. Interests Capital Third Balance, December 31, 2014 $ 7,336 $ 32 $ 7,368 $ 225 Net income 310 6 316 4 Issuance of common OP units 12 — 12 — Repurchase of common OP units (131 ) — (131 ) — Distributions declared on common OP units (301 ) — (301 ) (4 ) Distributions to non-controlling interests — (5 ) (5 ) — Other changes in ownership 38 (1 ) 37 (39 ) Other comprehensive loss (34 ) — (34 ) — Balance, June 30, 2015 $ 7,230 $ 32 $ 7,262 $ 186

Dispositions (Tables)

Dispositions (Tables)	6 Months Ended
	Jun. 30, 2015
Discontinued Operations And Disposal Groups [Abstract]
Summary of Results of Operations for Hotels Sold Included in Continuing Operations	The following table provides summary results of operations for the four hotels sold in 2015 and the five hotels sold in 2014, which are included in continuing operations (in millions): Quarter ended June 30, Year-to-date ended June 30, 2015 2014 2015 2014 Revenues $ 16 $ 45 $ 32 $ 89 Income before taxes 2 7 — 10 Gain on disposals 53 — 56 111

Acquisitions (Tables)

Acquisitions (Tables)	6 Months Ended
	Jun. 30, 2015
Business Combinations [Abstract]
Estimated Fair Value of Assets Acquired and Liabilities Assumed in Acquisitions	The following table summarizes the estimated fair value of the assets acquired and liabilities assumed related to this acquisition (in millions): Property and equipment $ 400 Other assets 1 Total assets 401 Other liabilities (1 ) Net assets acquired $ 400
Summary of Unaudited Consolidated Pro Forma Results of Operations	Our summarized unaudited consolidated pro forma results of operations, assuming the acquisition completed during 2015 occurred on January 1, 2014, are as follows (in millions, except per share and per unit amounts): Quarter ended June 30, Year-to-date ended June 30, 2015 2014 2015 2014 Revenues $ 1,478 $ 1,461 $ 2,838 $ 2,810 Income from continuing operations 226 163 345 361 Net income 226 163 345 361 Host Inc.: Net income attributable to Host Inc. $ 222 $ 159 $ 335 $ 351 Basic earnings per common share $ .29 $ .21 $ .44 $ .46 Diluted earnings per common share $ .29 $ .21 $ .44 $ .46 Host L.P.: Net income attributable to Host L.P. $ 225 $ 161 $ 339 $ 356 Basic earnings per common unit $ .30 $ .21 $ .45 $ .48 Diluted earnings per common unit $ .30 $ .21 $ .45 $ .48

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	6 Months Ended
	Jun. 30, 2015
Fair Value Disclosures [Abstract]
Fair Value of Financial Assets and Liabilities	The following tables detail the fair value of our financial assets and liabilities that are required to be measured at fair value on a recurring basis, as well as non-recurring fair value measurements, at June 30, 2015 and December 31, 2014, respectively (in millions): Fair Value at Measurement Date Using Balance at June 30, 2015 Quoted Prices in Active Markets for Identical Assets (Level 1) Significant (Level 2) Significant Unobservable Inputs (Level 3) Fair Value Measurements on a Recurring Basis: Assets Foreign currency forward sale contracts (1) $ 24 $ — $ 24 $ — Liabilities Interest rate swap derivatives (1) (2 ) — (2 ) — Fair Value at Measurement Date Using Balance at December 31, 2014 Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Fair Value Measurements on a Recurring Basis: Assets Foreign currency forward sale contracts (1) $ 13 $ — $ 13 $ — Liabilities Interest rate swap derivatives (1) (2 ) — (2 ) — Fair Value Measurements on a Non-recurring Basis: Impaired hotel properties sold (2) — — — 18 ___________ (1) These derivative contracts have been designated as hedging instruments. (2) The fair value measurements are as of the measurement date of the impairment and may not reflect the book value as of December 31, 2014.
Interest Rate Swap Derivatives Designated as Cash Flow Hedges	For the second quarter and year-to-date 2015, there was no material change in the fair value of our interest rate swap derivatives designated as cash flow hedges. The following table summarizes our outstanding contracts (in millions): Total Notional Maturity Swapped All-in- Transaction Date Amount Date Index Rate November 2011 (1) A$ 62 November Reuters BBSY 6.7 % February 2011 (2) NZ$ 79 February 2016 NZ$ Bank Bill 7.15 % ___________ (1) The swap was entered into in connection with the A$86 million ($66 million) mortgage loan on the Hilton Melbourne South Wharf. (2) The swap was entered into in connection with the NZ$105 million ($71 million) mortgage loan on seven properties in New Zealand.
Foreign Currency Sale Contracts	The following table summarizes our foreign currency forward sale contracts (in millions): Currently Outstanding Change in Fair Value - All Contracts Total Transaction Amount in Total Transaction Gain (Loss) Gain (Loss) Transaction Date Foreign Amount Forward Quarter ended June 30, Year-to-date ended June 30, Range Currency in Dollars Date Range 2015 2014 2015 2014 July 2011-May 2014 € 100 $ 135 August 2015-May 2017 $ (4 ) $ 1 $ 10 $ 1 November 2014 C$ 25 $ 22 November 2016 $ — $ — $ 1 $ —
Draws on Credit Facility that are Designated as Net Investments in Foreign Operations	The following table summarizes the draws on our credit facility that are designated as hedges of net investments in foreign operations (in millions): Balance Balance Gain (Loss) Gain (Loss) Outstanding Outstanding in Quarter ended June 30, Year-to-date ended June 30, Currency US$ Foreign Currency 2015 2014 2015 2014 Canadian dollars (1) $ 37 C$ 46 $ (1 ) $ (1 ) $ 1 $ — Euros $ 86 € 77 $ (3 ) $ 1 $ 7 $ 1 ___________ (1) We have drawn an additional $49 million on the credit facility in Canadian dollars, which draw has not been designated as a hedging instrument.
Fair Values of Certain Financial Liabilities and Other Financial Instruments	The fair value of certain financial liabilities is shown below (in millions): June 30, 2015 December 31, 2014 Carrying Amount Fair Value Carrying Amount Fair Value Financial liabilities Senior notes (Level 1) $ 2,499 $ 2,608 $ 2,498 $ 2,668 Exchangeable Senior Debentures (Level 1) 395 621 386 739 Credit facility (Level 2) 770 770 704 704 Mortgage debt and other, excluding capital leases (Level 388 396 403 413

Geographic Information (Tables)

Geographic Information (Tables)	6 Months Ended
	Jun. 30, 2015
Segment Reporting [Abstract]
Revenues and Long-Lived Assets by Geographical Area	The following table presents total revenues and property and equipment for each of the geographical areas in which we operate (in millions): Revenues Revenues Property and Equipment, net Quarter ended June 30, Year-to-date ended June 30, June 30, December 31, 2015 2014 2015 2014 2015 2014 United States $ 1,394 $ 1,358 $ 2,652 $ 2,601 $ 10,373 $ 10,111 Australia 8 10 17 19 95 102 Brazil 8 12 15 19 69 82 Canada 15 24 29 44 66 82 Chile 6 8 13 16 42 44 Mexico 7 7 14 14 22 26 New Zealand 11 12 26 27 109 128 Total $ 1,449 $ 1,431 $ 2,766 $ 2,740 $ 10,776 $ 10,575

Non-controlling Interests (Tabl

Non-controlling Interests (Tables)	6 Months Ended
	Jun. 30, 2015
Noncontrolling Interest [Abstract]
Historical Cost and Redemption Values for Non-Controlling Interests	The table below details the historical cost and redemption values for the non-controlling interests: June 30, 2015 December 31, 2014 OP units outstanding (millions) 9.2 9.3 Market price per Host Inc. common share $ 19.83 $ 23.77 Shares issuable upon conversion of one OP unit 1.021494 1.021494 Redemption value (millions) $ 186 $ 225 Historical cost (millions) 92 94 Book value (millions) (1) 186 225 ___________ ( 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, 2015	HotelFund
Organization Consolidation And Presentation Of Financial Statements Disclosure [Line Items]
Number of hotels	111
Australia
Organization Consolidation And Presentation Of Financial Statements Disclosure [Line Items]
Number of hotels	1
European Joint Venture
Organization Consolidation And Presentation Of Financial Statements Disclosure [Line Items]
Number of hotels	18
Number of funds | Fund	2
European Joint Venture | Fund I
Organization Consolidation And Presentation Of Financial Statements Disclosure [Line Items]
Investment ownership percentage	32.10%
Number of hotels	9
European Joint Venture | Fund II
Organization Consolidation And Presentation Of Financial Statements Disclosure [Line Items]
Investment ownership percentage	33.40%
Number of hotels	9
Asia/Pacific Joint Venture
Organization Consolidation And Presentation Of Financial Statements Disclosure [Line Items]
Investment ownership percentage	25.00%
Asia/Pacific Joint Venture | Australia
Organization Consolidation And Presentation Of Financial Statements Disclosure [Line Items]
Number of hotels	1
Asia/Pacific Joint Venture | India
Organization Consolidation And Presentation Of Financial Statements Disclosure [Line Items]
Number of hotels	3
Number of hotels in various stages of development	4
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, 2015Hotel
Segment Reporting Other Significant Reconciling Item [Line Items]
Hotels	111
European Joint Venture
Segment Reporting Other Significant Reconciling Item [Line Items]
Hotels	18
United States
Segment Reporting Other Significant Reconciling Item [Line Items]
Hotels	95
Australia
Segment Reporting Other Significant Reconciling Item [Line Items]
Hotels	1
Brazil
Segment Reporting Other Significant Reconciling Item [Line Items]
Hotels	3
Canada
Segment Reporting Other Significant Reconciling Item [Line Items]
Hotels	2
Chile
Segment Reporting Other Significant Reconciling Item [Line Items]
Hotels	2
Mexico
Segment Reporting Other Significant Reconciling Item [Line Items]
Hotels	1
New Zealand
Segment Reporting Other Significant Reconciling Item [Line Items]
Hotels	7
Belgium | European Joint Venture
Segment Reporting Other Significant Reconciling Item [Line Items]
Hotels	3
France | European Joint Venture
Segment Reporting Other Significant Reconciling Item [Line Items]
Hotels	4
Germany | European Joint Venture
Segment Reporting Other Significant Reconciling Item [Line Items]
Hotels	2
Italy | European Joint Venture
Segment Reporting Other Significant Reconciling Item [Line Items]
Hotels	3
Poland | European Joint Venture
Segment Reporting Other Significant Reconciling Item [Line Items]
Hotels	1
Spain | European Joint Venture
Segment Reporting Other Significant Reconciling Item [Line Items]
Hotels	2
Sweden | European Joint Venture
Segment Reporting Other Significant Reconciling Item [Line Items]
Hotels	1
The Netherlands | European Joint Venture
Segment Reporting Other Significant Reconciling Item [Line Items]
Hotels	1
United Kingdom | European Joint Venture
Segment Reporting Other Significant Reconciling Item [Line Items]
Hotels	1

Earnings Per Common Share (Un32

Earnings Per Common Share (Unit) - Additional Information (Detail) - Jun. 30, 2015 - HOST HOTELS & RESORTS, INC. - shares shares in Millions	Total
Shares Subject To Mandatory Redemption By Settlement Terms [Line Items]
OP units outstanding	9.2
Number of common shares that would be outstanding if OP units were converted	9.4

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, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Earnings Per Share [Abstract]
NET INCOME		$ 216	$ 159	$ 320	$ 344
Less: Net income attributable to non-controlling interests		(4)	(4)	(10)	(10)
NET INCOME ATTRIBUTABLE TO REPORTING ENTITY		212	155	310	334
Assuming conversion of exchangeable senior debentures		7
Diluted income attributable to Host Inc.		$ 219	$ 155	$ 310	$ 334
Basic weighted average shares outstanding		753.9	755.4	755	755.1
Assuming weighted average shares for conversion of exchangeable senior debentures		31.2
Assuming distribution of common shares granted under the comprehensive stock plans, less shares assumed purchased at market		0.4	0.5	0.4	0.5
Diluted weighted average shares outstanding	[1]	785.5	755.9	755.4	755.6
Basic earnings per common share		$ 0.28	$ 0.21	$ 0.41	$ 0.44
Diluted earnings per common share		$ 0.28	$ 0.21	$ 0.41	$ 0.44
[1]	There were approximately 31 million potentially dilutive shares for the year-to-date period ended June 30, 2015, and approximately 30 million potentially dilutive units for both the quarter and year-to-date periods ended June 30, 2014, related to our exchangeable senior debentures, which shares were not included in the computation of diluted earnings per share because to do so would have been anti-dilutive for the period.

Host Inc. Earnings (Loss) Per34

Host Inc. Earnings (Loss) Per Common Share (Parenthetical) (Detail) - shares shares in Millions	3 Months Ended	6 Months Ended
	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Earnings Per Share [Abstract]
Anti-dilutive shares which were not included in the computation of diluted EPS	30	31	30

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, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Earnings Per Share Diluted [Line Items]
NET INCOME		$ 216	$ 159	$ 320	$ 344
Less: Net income attributable to non-controlling interests		(4)	(4)	(10)	(10)
NET INCOME ATTRIBUTABLE TO REPORTING ENTITY		212	155	310	334
Diluted income attributable to Host Inc.		$ 219	$ 155	$ 310	$ 334
Basic weighted average shares outstanding		753.9	755.4	755	755.1
Assuming weighted average shares for conversion of exchangeable senior debentures		31.2
Assuming distribution of common shares granted under the comprehensive stock plans, less shares assumed purchased at market		0.4	0.5	0.4	0.5
Diluted weighted average shares outstanding	[1]	785.5	755.9	755.4	755.6
Basic earnings per common share		$ 0.28	$ 0.21	$ 0.41	$ 0.44
Diluted earnings per common share		$ 0.28	$ 0.21	$ 0.41	$ 0.44
HOST HOTELS & RESORTS L.P.
Earnings Per Share Diluted [Line Items]
NET INCOME		$ 216	$ 159	$ 320	$ 344
Less: Net income attributable to non-controlling interests		(1)	(2)	(6)	(5)
NET INCOME ATTRIBUTABLE TO REPORTING ENTITY		215	157	314	339
Assuming conversion of exchangeable senior debentures		7
Diluted income attributable to Host Inc.		$ 222	$ 157	$ 314	$ 339
Basic weighted average shares outstanding		747.3	748.9	748.3	748.7
Assuming weighted average shares for conversion of exchangeable senior debentures		30.5
Assuming distribution of common shares granted under the comprehensive stock plans, less shares assumed purchased at market		0.3	0.6	0.4	0.5
Diluted weighted average shares outstanding	[2]	778.1	749.5	748.7	749.2
Basic earnings per common share		$ 0.29	$ 0.21	$ 0.42	$ 0.45
Diluted earnings per common share		$ 0.29	$ 0.21	$ 0.42	$ 0.45
[1]	There were approximately 31 million potentially dilutive shares for the year-to-date period ended June 30, 2015, and approximately 30 million potentially dilutive units for both the quarter and year-to-date periods ended June 30, 2014, related to our exchangeable senior debentures, which shares were not included in the computation of diluted earnings per share because to do so would have been anti-dilutive for the period.
[2]	There were approximately 30 million potentially dilutive units for the year-to-date ended June 30, 2015, and approximately 30 million and 29 million potentially dilutive shares for the quarter and year-to-date periods ended June 30, 2014, respectively, related to our exchangeable senior debentures, which units were not included in the computation of diluted earnings per unit because to do so would have been anti-dilutive for the period.

Host LP Earnings (Loss) Per C36

Host LP Earnings (Loss) Per Common Unit (Parenthetical) (Detail) - shares shares in Millions	3 Months Ended	6 Months Ended
	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Anti-dilutive shares which were not included in the computation of diluted EPS	30	31	30
HOST HOTELS & RESORTS L.P.
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Anti-dilutive shares which were not included in the computation of diluted EPS	30	30	29

Summary of Property and Equipme

Summary of Property and Equipment (Detail) - USD ($) $ in Millions	Jun. 30, 2015	Dec. 31, 2014
Property Plant And Equipment [Abstract]
Land and land improvements	$ 2,047	$ 1,990
Buildings and leasehold improvements	13,665	13,336
Furniture and equipment	2,281	2,217
Construction in progress	165	209
Property, Plant and Equipment, Gross, Total	18,158	17,752
Less accumulated depreciation and amortization	(7,382)	(7,177)
Property and equipment, net	$ 10,776	$ 10,575

Debt - Additional Information (

Debt - Additional Information (Detail) - USD ($) $ in Millions	Jun. 15, 2015	May. 15, 2015	Jun. 30, 2015	Jun. 30, 2015
Debt Instrument [Line Items]
Net borrowings under revolver portion of credit facility				$ 250
Revolving Credit Facility
Debt Instrument [Line Items]
Net borrowings under revolver portion of credit facility			$ 80
Amount of borrowing capacity currently available under the credit facility			$ 730	$ 730
Series E senior notes 4% due June 2025
Debt Instrument [Line Items]
Face amount of debt		$ 500
Debt interest rate		4.00%	4.00%	4.00%
Proceed from issuance of note		$ 495
Effective interest rate with hedge		3.93%
Series X senior notes 5.875% due 2019
Debt Instrument [Line Items]
Debt interest rate	5.875%
Repayment of debt	$ 500
Redemption price of senior notes	$ 515

Investment in Affiliates - Addi

Investment in Affiliates - Additional Information (Detail) € in Millions, $ in Millions	Jul. 08, 2015USD ($)	Jul. 08, 2015EUR (€)	Jun. 05, 2015USD ($)	Jun. 05, 2015EUR (€)	Jul. 31, 2015	Jun. 30, 2015USD ($)	Jun. 30, 2014USD ($)
Investments In And Advances To Affiliates [Line Items]
Proceeds from sales of assets, net						$ 174	$ 274
Mortgage repayment							$ 373
Distributions from equity investments						$ 7
European Joint Venture | Crowne Plaza Hotel Amsterdam City Centre
Investments In And Advances To Affiliates [Line Items]
Proceeds from sales of assets, net			$ 118	€ 106
Gain on sale of asset			40	36
Mortgage repayment			49	44
Fund II | European Joint Venture | Subsequent Event
Investments In And Advances To Affiliates [Line Items]
Capital commitment extension period					one year
European Joint Venture | Fund I | Subsequent Event
Investments In And Advances To Affiliates [Line Items]
Distributions from equity investments	$ 21	€ 19
FF&E reserve | European Joint Venture | Crowne Plaza Hotel Amsterdam City Centre
Investments In And Advances To Affiliates [Line Items]
Proceeds from sales of assets, net			$ 3	€ 3

Equity Allocation between Contr

Equity Allocation between Controlling and Non-Controlling Interests (Detail) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Stockholders Equity Note [Line Items]
Beginning Balance			$ 7,368
NET INCOME ATTRIBUTABLE TO REPORTING ENTITY	$ 212	$ 155	310	$ 334
Net income attributable to non-controlling interests	1	2	6	5
Net income	3	2	4	5
Other comprehensive loss	3	$ 5	(34)	$ 12
Ending Balance	7,262		7,262
HOST HOTELS & RESORTS, INC.
Stockholders Equity Note [Line Items]
Beginning Balance			7,368
Net income			316
Issuance of common stock			12
Repurchase of common stock /OP units			(131)
Dividends declared on common stock			(301)
Distributions to non-controlling interests			(5)
Other changes in ownership			37
Other comprehensive loss			(34)
Ending Balance	7,262		7,262
HOST HOTELS & RESORTS, INC. | Parent
Stockholders Equity Note [Line Items]
Beginning Balance			7,336
NET INCOME ATTRIBUTABLE TO REPORTING ENTITY			310
Issuance of common stock			12
Repurchase of common stock /OP units			(131)
Dividends declared on common stock			(301)
Other changes in ownership			38
Other comprehensive loss			(34)
Ending Balance	7,230		7,230
HOST HOTELS & RESORTS, INC. | Non-redeemable, non-controlling interest
Stockholders Equity Note [Line Items]
Beginning Balance			32
Net income attributable to non-controlling interests			6
Distributions to non-controlling interests			(5)
Other changes in ownership			(1)
Ending Balance	32		32
HOST HOTELS & RESORTS, INC. | Redeemable non-controlling interests
Stockholders Equity Note [Line Items]
Beginning Balance			225
Net income			4
Distributions to non-controlling interests			(4)
Other changes in ownership			(39)
Ending Balance	$ 186		$ 186

Equity of Host Inc. and Capit41

Equity of Host Inc. and Capital of Host L.P. - Additional Information (Detail) $ / shares in Units, shares in Thousands	Jun. 11, 2015$ / shares	Jun. 30, 2015USD ($)$ / sharesshares	Dec. 31, 2014
HOST HOTELS & RESORTS, INC.
Stockholders Equity Note [Line Items]
Percentage of the common OP Units		99.00%
Dividend declaration date		Jun. 11, 2015
Dividend per share, declared | $ / shares	$ 0.20
Dividend payable date		Jul. 15, 2015
Dividend record date		Jun. 30, 2015
Common stock repurchase, shares | shares		6,550
Common stock repurchase, average price per share | $ / shares		$ 20.07
Common stock repurchase, value		$ 131,000,000
Remaining capacity of stock repurchase		369,000,000
HOST HOTELS & RESORTS, INC. | Maximum
Stockholders Equity Note [Line Items]
Common stock repurchase, authorized amount		$ 500,000,000
HOST HOTELS & RESORTS L.P.
Stockholders Equity Note [Line Items]
Shares issuable upon conversion of one OP unit		1.021494	1.021494
Common OP units, distribution paid | $ / shares		$ 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, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Limited Partners Capital Account [Line Items]
Beginning Balance			$ 7,368
NET INCOME ATTRIBUTABLE TO REPORTING ENTITY	$ 212	$ 155	310	$ 334
Net income attributable to non-controlling interests	1	2	6	5
Net income	3	2	4	5
Other comprehensive loss	3	5	(34)	12
Ending Balance	7,262		7,262
HOST HOTELS & RESORTS L.P.
Limited Partners Capital Account [Line Items]
Beginning Balance			7,368
NET INCOME ATTRIBUTABLE TO REPORTING ENTITY	215	157	314	339
Net income			316
Issuance of common OP units			12
Repurchase of common stock /OP units			(131)
Distributions declared on common OP units			(301)
Distributions to non-controlling interests			(5)
Other changes in ownership			37
Other comprehensive loss	3	$ 5	(34)	$ 12
Ending Balance	7,262		7,262
HOST HOTELS & RESORTS L.P. | Parent
Limited Partners Capital Account [Line Items]
Beginning Balance			7,336
NET INCOME ATTRIBUTABLE TO REPORTING ENTITY			310
Issuance of common OP units			12
Repurchase of common stock /OP units			(131)
Distributions declared on common OP units			(301)
Other changes in ownership			38
Other comprehensive loss			(34)
Ending Balance	7,230		7,230
HOST HOTELS & RESORTS L.P. | Non-controlling Interests
Limited Partners Capital Account [Line Items]
Beginning Balance			32
Net income attributable to non-controlling interests			6
Distributions to non-controlling interests			(5)
Other changes in ownership			(1)
Ending Balance	32		32
HOST HOTELS & RESORTS L.P. | Limited Partnership Interests Of Third Parties
Limited Partners Capital Account [Line Items]
Beginning Balance			225
Net income			4
Distributions declared on common OP units			(4)
Other changes in ownership			(39)
Ending Balance	$ 186		$ 186

Dispositions - Additional Infor

Dispositions - Additional Information (Detail) $ in Millions	Jun. 23, 2015USD ($)	Jun. 03, 2015USD ($)	Jun. 30, 2015USD ($)Hotel	Jun. 30, 2014USD ($)	Dec. 31, 2014Hotel
Income Statement Balance Sheet And Additional Disclosures By Disposal Groups Including Discontinued Operations [Line Items]
Proceeds from sales of assets, net			$ 174	$ 274
Number of properties sold | Hotel			4		5
Park Ridge Marriott & Chicago Marriott O’Hare
Income Statement Balance Sheet And Additional Disclosures By Disposal Groups Including Discontinued Operations [Line Items]
Proceeds from sales of assets, net	$ 89
Sheraton Needham
Income Statement Balance Sheet And Additional Disclosures By Disposal Groups Including Discontinued Operations [Line Items]
Proceeds from sales of assets, net		$ 54

Summary of Results of Operation

Summary of Results of Operations for One Hotel Sold in Twenty Fifteen and Five Hotels Sold in Twenty Fourteen which are Included in Continuing Operations (Detail) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Disposal Group Not Discontinued Operation Disposal Disclosures [Abstract]
Revenues	$ 16	$ 45	$ 32	$ 89
Income before taxes	2	$ 7		10
Gain on disposals	$ 53		$ 56	$ 111

Acquisitions - Additional Infor

Acquisitions - Additional Information (Detail) $ in Millions	Jun. 08, 2015USD ($)Room	Jun. 30, 2015USD ($)	Jun. 30, 2015USD ($)
Business Acquisition [Line Items]
Acquisition-related expenses		$ 1	$ 1
Pro forma, total revenues		5	5
Pro forma, net loss		$ (1)	$ (1)
The Phoenician
Business Acquisition [Line Items]
Number of rooms | Room	643
Acquisition purchase price	$ 400
Acquisition-related expenses	$ 1

Estimated Fair Value of Assets

Estimated Fair Value of Assets Acquired and Liabilities Assumed in Acquisitions (Detail) $ in Millions	Jun. 30, 2015USD ($)
Business Combinations [Abstract]
Property and equipment	$ 400
Other assets	1
Total assets	401
Other liabilities	(1)
Net assets acquired	$ 400

Summary of Unaudited Consolidat

Summary of Unaudited Consolidated Pro Forma Results of Operations (Detail) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Business Acquisition, Pro Forma Information [Abstract]
Revenues	$ 1,478	$ 1,461	$ 2,838	$ 2,810
Income from continuing operations	226	163	345	361
Net income	226	163	345	361
HOST HOTELS & RESORTS, INC.
Business Acquisition, Pro Forma Information [Abstract]
Net income attributable to Host Inc.	$ 222	$ 159	$ 335	$ 351
Basic earnings per common share	$ 0.29	$ 0.21	$ 0.44	$ 0.46
Diluted earnings per common share	$ 0.29	$ 0.21	$ 0.44	$ 0.46
HOST HOTELS & RESORTS L.P.
Business Acquisition, Pro Forma Information [Abstract]
Net income attributable to Host Inc.	$ 225	$ 161	$ 339	$ 356
Basic earnings per common share	$ 0.30	$ 0.21	$ 0.45	$ 0.48
Diluted earnings per common share	$ 0.30	$ 0.21	$ 0.45	$ 0.48

Fair Value of Financial Assets

Fair Value of Financial Assets and Liabilities (Detail) - USD ($) $ in Millions		Jun. 30, 2015	Dec. 31, 2014
Foreign currency forward sale contracts
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Fair value measurements on a recurring basis, Assets	[1]	$ 24	$ 13
Interest rate swap derivatives
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Fair value measurements on a recurring basis, Liabilities	[1]	(2)	(2)
Significant Other Observable Inputs (Level 2) | Foreign currency forward sale contracts
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Fair value measurements on a recurring basis, Assets	[1]	24	13
Significant Other Observable Inputs (Level 2) | Interest rate swap derivatives
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Fair value measurements on a recurring basis, Liabilities	[1]	$ (2)	(2)
Significant Unobservable Inputs (Level 3) | Impaired Hotel Properties Held And Used
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Fair value measurements on a non-recurring basis, Impaired hotel properties held and used	[2]		$ 18
[1]	These derivative contracts have been designated as hedging instruments.
[2]	The fair value measurements are as of the measurement date of the impairment and may not reflect the book value as of December 31, 2014.

Fair Value Measurements - Addit

Fair Value Measurements - Additional Information (Detail)	6 Months Ended
	Jun. 30, 2015USD ($)DerivativesContract	May. 15, 2015
Derivative Instruments And Hedging Activities Disclosures [Line Items]
Number of foreign currency forward contracts outstanding | Contract	5
Series E senior notes 4% due June 2025
Derivative Instruments And Hedging Activities Disclosures [Line Items]
Debt interest rate	4.00%	4.00%
Proceeds from forward swaps and treasury locks	$ 4,000,000
Amortization of forward swaps and treasury locks	10 years
Series E senior notes 4% due June 2025 | Interest rate swap derivatives
Derivative Instruments And Hedging Activities Disclosures [Line Items]
Number of interest rate derivatives | Derivatives	3
Notional amount	$ 150,000,000
Swaps hedged of variable rate basis	3-month LIBOR
Series E senior notes 4% due June 2025 | Treasury locks
Derivative Instruments And Hedging Activities Disclosures [Line Items]
Number of interest rate derivatives | Derivatives	2
Notional amount	$ 200,000,000
Swaps hedged of variable rate basis	10-year U.S. Treasury rate

Interest Rate Swap Derivatives

Interest Rate Swap Derivatives Designated as Cash Flow Hedges (Detail) - Jun. 30, 2015 - Cash Flow Hedging - Interest Rate Swap		AUD	NZD
Swap Entered In Connection With Mortgage Loan On Hilton Melbourne South Wharf | Australia
Derivative [Line Items]
Transaction Date	[1]	November 2,011
Notional amount | AUD	[1]	AUD 62,000,000
Maturity Date	[1]	2016-11
Swapped Index	[1]	Reuters BBSY
All-in-Rate	[1]	6.70%	6.70%
Swap Entered In Connection With Seven Properties | New Zealand
Derivative [Line Items]
Transaction Date	[2]	February 2,011
Notional amount	[2]		NZD 79,000,000
Maturity Date	[2]	2016-02
Swapped Index	[2]	NZ$ Bank Bill
All-in-Rate	[2]	7.15%	7.15%
[1]	The swap was entered into in connection with the A$86 million ($66 million) mortgage loan on the Hilton Melbourne South Wharf.
[2]	The swap was entered into in connection with the NZ$105 million ($71 million) mortgage loan on seven properties in New Zealand.

Interest Rate Swap Derivative51

Interest Rate Swap Derivatives Designated as Cash Flow Hedges (Parenthetical) (Detail) NZD in Millions, AUD in Millions, $ in Millions	Jun. 30, 2015USD ($)Hotel	Jun. 30, 2015AUDHotel	Jun. 30, 2015NZDHotel	Dec. 31, 2014USD ($)
Derivative [Line Items]
Mortgage debt | $	$ 389			$ 404
Hotels	111	111	111
Australia
Derivative [Line Items]
Hotels	1	1	1
New Zealand
Derivative [Line Items]
Hotels	7	7	7
Interest Rate Swap | Australia | Swap Entered In Connection With Mortgage Loan On Hilton Melbourne South Wharf
Derivative [Line Items]
Mortgage debt	$ 66	AUD 86
Interest Rate Swap | New Zealand | Swap Entered In Connection With Seven Properties
Derivative [Line Items]
Mortgage debt	$ 71		NZD 105
Hotels	7	7	7

Foreign Currency Sale Contracts

Foreign Currency Sale Contracts (Detail) - Foreign Exchange Contract	3 Months Ended		6 Months Ended
	Jun. 30, 2015USD ($)	Mar. 31, 2014USD ($)	Jun. 30, 2015USD ($)	Jun. 30, 2014USD ($)	Jun. 30, 2015EUR (€)	Jun. 30, 2015CAD
Euros
Derivative [Line Items]
Transaction Date Range			July 2011-May 2014
Total transaction amount	$ 135,000,000		$ 135,000,000		€ 100,000,000
Forward purchase date range			August 2015-May 2017
Change in fair value gain (loss)	(4,000,000)	$ 1,000,000	$ 10,000,000	$ 1,000,000
Canadian Dollars
Derivative [Line Items]
Transaction Date Range			November 2,014
Total transaction amount	$ 22,000,000		$ 22,000,000			CAD 25,000,000
Forward purchase date range
Change in fair value gain (loss)			$ 1,000,000

Draws on Credit Facility that a

Draws on Credit Facility that are Designated as Net Investments in Foreign Operations (Detail) € in Millions, CAD in Millions, $ in Millions		3 Months Ended		6 Months Ended
		Jun. 30, 2015USD ($)	Jun. 30, 2014USD ($)	Jun. 30, 2015USD ($)	Jun. 30, 2014USD ($)	Dec. 31, 2014USD ($)	Dec. 31, 2014EUR (€)	Dec. 31, 2014CAD
Debt Instrument Designated As Hedges Of Net Investment In Foreign Operations [Line Items]
Balance Outstanding		$ 770		$ 770		$ 704
Foreign currency translation and other comprehensive income (loss) of unconsolidated affiliates		3	$ 4	(44)	$ 11
Canadian Dollars
Debt Instrument Designated As Hedges Of Net Investment In Foreign Operations [Line Items]
Balance Outstanding	[1]	37		37				CAD 46
Foreign currency translation and other comprehensive income (loss) of unconsolidated affiliates	[1]	(1)	(1)	1
Euros
Debt Instrument Designated As Hedges Of Net Investment In Foreign Operations [Line Items]
Balance Outstanding		86		86			€ 77
Foreign currency translation and other comprehensive income (loss) of unconsolidated affiliates		$ (3)	$ 1	$ 7	$ 1
[1]	We have drawn an additional $49 million on the credit facility in Canadian dollars, which draw has not been designated as a hedging instrument.

Draws on Credit Facility that54

Draws on Credit Facility that are Designated as Net Investments in Foreign Operations (Parenthetical) (Detail) CAD in Millions, $ in Millions		Jun. 30, 2015USD ($)	Dec. 31, 2014USD ($)	Dec. 31, 2014CAD
Derivative Instruments And Hedging Activities Disclosures [Line Items]
Credit facility		$ 770	$ 704
Canadian Dollars
Derivative Instruments And Hedging Activities Disclosures [Line Items]
Credit facility	[1]	37		CAD 46
Canadian Dollars | Not Designated as Hedging Instrument
Derivative Instruments And Hedging Activities Disclosures [Line Items]
Credit facility		$ 49
[1]	We have drawn an additional $49 million on the credit facility in Canadian dollars, which draw has not been designated as a hedging instrument.

Fair Values of Certain Financia

Fair Values of Certain Financial Liabilities and Other Financial Instruments (Detail) - USD ($) $ in Millions	Jun. 30, 2015	Dec. 31, 2014
Financial liabilities
Senior notes (Level 1)	$ 2,499	$ 2,498
Exchangeable Senior Debentures (Level 1), carrying value	395	386
Credit facility (Level 2), carrying value	770	704
Mortgage debt and other, excluding capital leases (Level 2), carrying value	388	403
Quoted Prices in Active Markets for Identical Assets (Level 1)
Financial liabilities
Senior notes (Level 1), fair value	2,608	2,668
Exchangeable Senior Debentures (Level 1), fair value	621	739
Significant Other Observable Inputs (Level 2)
Financial liabilities
Credit facility (Level 2), fair value	770	704
Significant Other Observable Inputs (Level 2) | Mortgage debt and other, excluding capital leases
Financial liabilities
Mortgage debt and other, excluding capital leases (Level 2), fair value	$ 396	$ 413

Geographic Information - Additi

Geographic Information - Additional Information (Detail) - Jun. 30, 2015	EntityCountry
Segment Reporting [Abstract]
Number of operating segments	1
Foreign operations, number of countries | Country	6

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, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014	Dec. 31, 2014
Segment Reporting Information [Line Items]
Revenues	$ 1,449	$ 1,431	$ 2,766	$ 2,740
Property and equipment, net	10,776		10,776		$ 10,575
United States
Segment Reporting Information [Line Items]
Revenues	1,394	1,358	2,652	2,601
Property and equipment, net	10,373		10,373		10,111
Australia
Segment Reporting Information [Line Items]
Revenues	8	10	17	19
Property and equipment, net	95		95		102
Brazil
Segment Reporting Information [Line Items]
Revenues	8	12	15	19
Property and equipment, net	69		69		82
Canada
Segment Reporting Information [Line Items]
Revenues	15	24	29	44
Property and equipment, net	66		66		82
Chile
Segment Reporting Information [Line Items]
Revenues	6	8	13	16
Property and equipment, net	42		42		44
Mexico
Segment Reporting Information [Line Items]
Revenues	7	7	14	14
Property and equipment, net	22		22		26
New Zealand
Segment Reporting Information [Line Items]
Revenues	11	$ 12	26	$ 27
Property and equipment, net	$ 109		$ 109		$ 128

Non-Controlling Interests - Add

Non-Controlling Interests - Additional Information (Detail) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2015USD ($)Entity	Jun. 30, 2014USD ($)	Jun. 30, 2015USD ($)Entity	Jun. 30, 2014USD ($)	Dec. 31, 2014USD ($)
Minority Interest [Line Items]
Number of majority-owned partnerships that have third-party, non-controlling ownership interests that have been consolidated | Entity	6		6
Non-controlling interests—other consolidated partnerships	$ 32		$ 32		$ 32
Number of majority-owned partnerships that have third-party, non-controlling ownership interests with finite lives | Entity	2		2
Non-controlling interests in outside partnerships, fair value	$ 94		$ 94		$ 85
Net income attributable to non-controlling interests outside partnerships	1	$ 2	6	$ 5
Net income	$ 3	$ 2	$ 4	$ 5
HOST HOTELS & RESORTS L.P.
Minority Interest [Line Items]
OP units conversion basis			One common OP unit may be exchanged into 1.021494 shares of Host Inc
Shares issuable upon conversion of one OP unit	1.021494		1.021494		1.021494
Lower Limit
Minority Interest [Line Items]
Majority-owned partnerships with mandatorily redeemable non-controlling interests, termination year			2,081
Upper Limit
Minority Interest [Line Items]
Majority-owned partnerships with mandatorily redeemable non-controlling interests, termination year			2,095

Historical Cost and Redemption

Historical Cost and Redemption Values for Non-Controlling Interests (Detail) $ / shares in Units, shares in Millions, $ in Millions		Jun. 30, 2015USD ($)$ / sharesshares	Dec. 31, 2014USD ($)$ / sharesshares
Shares Subject To Mandatory Redemption By Settlement Terms [Line Items]
Book value		$ 186	$ 225
HOST HOTELS & RESORTS L.P.
Shares Subject To Mandatory Redemption By Settlement Terms [Line Items]
OP units outstanding | shares		9.2	9.3
Market price per Host Inc. common share | $ / shares		$ 19.83	$ 23.77
Shares issuable upon conversion of one OP unit		1.021494	1.021494
Redemption value		$ 186	$ 225
Historical cost		92	94
Book value	[1]	$ 186	$ 225
[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, 2015USD ($)
Loss Contingencies [Line Items]
Loss contingency accrual	$ 4,000,000
Estimate of possible losses	10,000,000
Other Litigation Cases
Loss Contingencies [Line Items]
Maximum exposure of litigation	$ 150,000