Host Hotels & Resorts (HST) 10-Q 29 Apr 16 2016 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Mar. 31, 2016	Apr. 28, 2016
Document And Entity Information [Line Items]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Mar. 31, 2016
Document Fiscal Year Focus	2,016
Document Fiscal Period Focus	Q1
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		747,315,404
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		Mar. 31, 2016	Dec. 31, 2015
ASSETS
Property and equipment, net		$ 10,551	$ 10,583
Assets held for sale		30	55
Due from managers		135	56
Advances to and investments in affiliates		313	324
Furniture, fixtures and equipment replacement fund		152	141
Other		260	261
Restricted cash		15	15
Cash and cash equivalents		234	221
Total assets		11,690	11,656
Debt
Senior notes		2,377	2,376
Credit facility, including term loans of $996 million		1,401	1,291
Mortgage debt		183	200
Total debt		3,961	3,867
Accounts payable and accrued expenses		215	243
Liabilities held for sale		2
Other		295	299
Total liabilities		4,473	4,409
Partnership interests		156	143
Host Hotels & Resorts, Inc. stockholders’ equity:
Common stock, par value $.01, 1,050 million shares authorized, 746.2 million shares and 750.3 million shares issued and outstanding, respectively		7	8
Additional paid-in capital		8,214	8,302
Accumulated other comprehensive loss		(94)	(107)
Deficit		(1,107)	(1,139)
Total equity of Host Hotels & Resorts, Inc. stockholders		7,020	7,064
Non-controlling interests—other consolidated partnerships		41	40
Total equity		7,061	7,104
Total liabilities, non-controlling interests and equity		11,690	11,656
Host Hotels & Resorts, L.P. capital:
Accumulated other comprehensive loss		(94)	(107)
HOST HOTELS & RESORTS L.P.
ASSETS
Property and equipment, net		10,551	10,583
Assets held for sale		30	55
Due from managers		135	56
Advances to and investments in affiliates		313	324
Furniture, fixtures and equipment replacement fund		152	141
Other		260	261
Restricted cash		15	15
Cash and cash equivalents		234	221
Total assets		11,690	11,656
Debt
Senior notes		2,377	2,376
Credit facility, including term loans of $996 million		1,401	1,291
Mortgage debt		183	200
Total debt		3,961	3,867
Accounts payable and accrued expenses		215	243
Liabilities held for sale		2
Other		295	299
Total liabilities		4,473	4,409
Partnership interests	[1]	156	143
Host Hotels & Resorts, Inc. stockholders’ equity:
Accumulated other comprehensive loss		(94)	(107)
Total equity		7,061	7,104
Total liabilities, non-controlling interests and equity		11,690	11,656
Host Hotels & Resorts, L.P. capital:
General partner		1	1
Limited partner		7,113	7,170
Accumulated other comprehensive loss		(94)	(107)
Total Host Hotels & Resorts, L.P. capital		7,020	7,064
Non-controlling interests—consolidated partnerships		41	40
Total capital		$ 7,061	$ 7,104
[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	Mar. 31, 2016	Dec. 31, 2015
Credit facility	$ 1,401	$ 1,291
Common stock, par value	$ 0.01	$ 0.01
Common stock, shares authorized	1,050,000,000	1,050,000,000
Common stock, shares issued	746,200,000	750,300,000
Common stock, shares outstanding	746,200,000	750,300,000
HOST HOTELS & RESORTS L.P.
Credit facility	$ 1,401	$ 1,291
Term Loan
Credit facility	996	996
Term Loan | HOST HOTELS & RESORTS L.P.
Credit facility	$ 996	$ 996

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
REVENUES
Rooms	$ 843	$ 818
Food and beverage	408	403
Other	88	81
Total revenues	1,339	1,302
EXPENSES
Rooms	221	220
Food and beverage	284	283
Other departmental and support expenses	328	321
Management fees	57	52
Other property-level expenses	93	96
Depreciation and amortization	181	173
Corporate and other expenses	27	24
Gain on insurance settlements	(3)
Total operating costs and expenses	1,188	1,169
OPERATING PROFIT	151	133
Interest income	1	1
Interest expense	(39)	(49)
Gain on sale of assets	59	4
Gain (loss) on foreign currency transactions and derivatives	1	(2)
Equity in earnings of affiliates	2	3
INCOME BEFORE INCOME TAXES	175	90
Benefit for income taxes	9	9
NET INCOME	184	99
Less: Net income attributable to non-controlling interests	(2)	(1)
NET INCOME ATTRIBUTABLE TO REPORTING ENTITY	$ 182	$ 98
Basic earnings per common share	$ 0.24	$ 0.13
Diluted earnings per common share	$ 0.24	$ 0.13
HOST HOTELS & RESORTS L.P.
REVENUES
Rooms	$ 843	$ 818
Food and beverage	408	403
Other	88	81
Total revenues	1,339	1,302
EXPENSES
Rooms	221	220
Food and beverage	284	283
Other departmental and support expenses	328	321
Management fees	57	52
Other property-level expenses	93	96
Depreciation and amortization	181	173
Corporate and other expenses	27	24
Gain on insurance settlements	(3)
Total operating costs and expenses	1,188	1,169
OPERATING PROFIT	151	133
Interest income	1	1
Interest expense	(39)	(49)
Gain on sale of assets	59	4
Gain (loss) on foreign currency transactions and derivatives	1	(2)
Equity in earnings of affiliates	2	3
INCOME BEFORE INCOME TAXES	175	90
Benefit for income taxes	9	9
NET INCOME	184	99
NET INCOME ATTRIBUTABLE TO REPORTING ENTITY	$ 184	$ 99
Basic earnings per common share	$ 0.25	$ 0.13
Diluted earnings per common share	$ 0.25	$ 0.13

CONDENSED CONSOLIDATED STATEME5

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) (Unaudited) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
NET INCOME	$ 184	$ 99
OTHER COMPREHENSIVE INCOME (LOSS), NET OF TAX:
Foreign currency translation and other comprehensive income (loss) of unconsolidated affiliates	14	(47)
Change in fair value of derivative instruments	(5)	15
Amounts reclassified from other comprehensive (income) loss	4	(5)
OTHER COMPREHENSIVE INCOME (LOSS), NET OF TAX	13	(37)
COMPREHENSIVE INCOME	197	62
Less: Comprehensive income attributable to non-controlling interests	(2)	(1)
COMPREHENSIVE INCOME ATTRIBUTABLE TO REPORTING ENTITY	195	61
HOST HOTELS & RESORTS L.P.
NET INCOME	184	99
OTHER COMPREHENSIVE INCOME (LOSS), NET OF TAX:
Foreign currency translation and other comprehensive income (loss) of unconsolidated affiliates	14	(47)
Change in fair value of derivative instruments	(5)	15
Amounts reclassified from other comprehensive (income) loss	4	(5)
OTHER COMPREHENSIVE INCOME (LOSS), NET OF TAX	13	(37)
COMPREHENSIVE INCOME	197	62
COMPREHENSIVE INCOME ATTRIBUTABLE TO REPORTING ENTITY	$ 197	$ 62

CONDENSED CONSOLIDATED STATEME6

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
OPERATING ACTIVITIES
NET INCOME	$ 184	$ 99
Adjustments to reconcile to cash provided by operations:
Depreciation and amortization	181	173
Amortization of finance costs, discounts and premiums, net	2	6
Stock compensation expense	3	5
Deferred income taxes	(9)	(13)
Gain on sale of assets	(59)	(4)
(Gain) loss on foreign currency transactions and derivatives	(1)	2
Gain on property insurance settlement	(1)
Equity in earnings of affiliates	(2)	(3)
Change in due from managers	(83)	(75)
Distributions from equity investments	12	4
Changes in other assets	9	16
Changes in other liabilities	(17)	(46)
Cash provided by operating activities	219	164
INVESTING ACTIVITIES
Proceeds from sales of assets, net	115	33
Return of investment	7
Advances to and investments in affiliates	(1)
Capital expenditures:
Renewals and replacements	(94)	(125)
Redevelopment and acquisition-related investments	(73)	(45)
Change in furniture, fixtures and equipment ("FF&E") replacement fund	(12)	(28)
Cash used in investing activities	(58)	(165)
FINANCING ACTIVITIES
Draws on credit facility	170
Repayment of credit facility	(70)
Mortgage debt and other prepayments and scheduled maturities	(20)
Common stock repurchase	(81)
Dividends on common stock	(150)	(197)
Other financing activities	(1)	(1)
Cash used in financing activities	(152)	(198)
Effects of exchange rate changes on cash held	4	(7)
INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS	13	(206)
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD	221	666
CASH AND CASH EQUIVALENTS, END OF PERIOD	234	460
Supplemental disclosure of cash flow information:
Interest paid - periodic interest expense	34	43
Income taxes paid	2	1
HOST HOTELS & RESORTS L.P.
OPERATING ACTIVITIES
NET INCOME	184	99
Adjustments to reconcile to cash provided by operations:
Depreciation and amortization	181	173
Amortization of finance costs, discounts and premiums, net	2	6
Stock compensation expense	3	5
Deferred income taxes	(9)	(13)
Gain on sale of assets	(59)	(4)
(Gain) loss on foreign currency transactions and derivatives	(1)	2
Gain on property insurance settlement	(1)
Equity in earnings of affiliates	(2)	(3)
Change in due from managers	(83)	(75)
Distributions from equity investments	12	4
Changes in other assets	9	16
Changes in other liabilities	(17)	(46)
Cash provided by operating activities	219	164
INVESTING ACTIVITIES
Proceeds from sales of assets, net	115	33
Return of investment	7
Advances to and investments in affiliates	(1)
Capital expenditures:
Renewals and replacements	(94)	(125)
Redevelopment and acquisition-related investments	(73)	(45)
Change in furniture, fixtures and equipment ("FF&E") replacement fund	(12)	(28)
Cash used in investing activities	(58)	(165)
FINANCING ACTIVITIES
Draws on credit facility	170
Repayment of credit facility	(70)
Mortgage debt and other prepayments and scheduled maturities	(20)
Repurchase of common OP units	(81)
Distributions on common OP units	(151)	(199)
Other financing activities		1
Cash used in financing activities	(152)	(198)
Effects of exchange rate changes on cash held	4	(7)
INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS	13	(206)
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD	221	666
CASH AND CASH EQUIVALENTS, END OF PERIOD	234	460
Supplemental disclosure of cash flow information:
Interest paid - periodic interest expense	34	43
Income taxes paid	$ 2	$ 1

Organization

Organization	3 Months Ended
	Mar. 31, 2016
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 March 31, 2016, Host Inc. holds approximately 99% of Host L.P.’s OP units. Consolidated Portfolio As of March 31, 2016, our consolidated portfolio, primarily consisting of luxury and upper upscale hotels, is located in the following countries: Hotels United States 92 Australia 1 Brazil 3 Canada 2 Chile 2 Mexico 1 New Zealand 2 Total 103 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”) (3 hotels) and a 33.4% interest in the second fund (“Euro JV Fund II”) (7 hotels). As of March 31, 2016, the Euro JV owned hotels located in the following countries: Hotels Belgium 1 France 3 Germany 1 Spain 2 Sweden 1 The Netherlands 1 United Kingdom 1 Total 10 We also own non-controlling interests in an additional five joint ventures that own eight hotels totaling approximately 3,300 rooms.

Summary of Significant Accounti

Summary of Significant Accounting Policies	3 Months Ended
	Mar. 31, 2016
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, 2015. 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 March 31, 2016, and the results of our operations and cash flows for the quarters ended March 31, 2016 and 2015, respectively. Interim results are not necessarily indicative of full year performance because of the impact of seasonal variations. New Accounting Standards In March 2016, the Financial Accounting Standards Board (“FASB”) issued ASU No. 2016-09, Improvements to Employee Share-Based Payment Accounting In February 2016, the FASB issued ASU No. 2016-02, Leases (Topic 842) In February 2015, the FASB issued ASU No. 2015-02, Amendments to the Consolidation Analysis Additionally, three partnerships now are considered VIE’s as the general partner maintains control over the decisions that most significantly impact the partnerships; however, this consideration did not change the consolidation determination. This includes the operating partnership, Host L.P., which is consolidated by Host Inc., wherein Host Inc. is the general partner and holds 99% of the limited partner interests. Host Inc.’s sole significant asset is its investment in Host L.P. and, consequently, substantially all of Host Inc.’s assets and liabilities represent 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. We also determined that our consolidated partnership that owns the Houston Airport Marriott, wherein we are the general partner and hold 85% of the partnership interests, is a VIE. The total assets of this VIE are $60 million and consist of cash and property and equipment. Liabilities for the VIE total $1 million and consist of deferred revenue. The unconsolidated partnership that owns the Philadelphia Marriott Downtown, wherein we hold 11% of the limited partner interests, is also a VIE. The carrying amount of this investment is $(7) million and is included in advances to and investments in affiliates. The mortgage debt held by this VIE is non-recourse to us. In May 2014, the FASB issued ASU No. 2014-09, Revenue from Contracts with Customers (Topic 606) , Revenue from Contracts with Customers (Topic 606): Principal versus Agent Considerations, Revenue from Contracts with Customers (Topic 606): Deferral of the Effective Date,

Earnings Per Common Share (Unit

Earnings Per Common Share (Unit)	3 Months Ended
	Mar. 31, 2016
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 9.1 million OP units which are convertible into 9.3 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 March 31, 2016 2015 Net income $ 184 $ 99 Less: Net income attributable to non-controlling interests (2 ) (1 ) Net income attributable to Host Inc. $ 182 $ 98 Basic weighted average shares outstanding 749.6 756.0 Assuming distribution of common shares granted under the comprehensive stock plans, less shares assumed purchased at market 0.1 0.3 Diluted weighted average shares outstanding (1) 749.7 756.3 Basic earnings per common share $ .24 $ .13 Diluted earnings per common share $ .24 $ .13 ___________ (1) 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 March 31, 2016 2015 Net income $ 184 $ 99 Less: Net loss attributable to non-controlling interests — — Net income attributable to Host L.P. $ 184 $ 99 Basic weighted average units outstanding 742.9 749.4 Assuming distribution of common shares granted under the comprehensive stock plans, less shares assumed purchased at market 0.1 0.3 Diluted weighted average units outstanding (1) 743.0 749.7 Basic earnings per common unit $ .25 $ .13 Diluted earnings per common unit $ .25 $ .13 ___________ (1) There were approximately 30 million potentially dilutive units for the quarter ended March 31, 2015 related to our exchangeable senior debentures, which were anti-dilutive for the period. The exchangeable senior debentures were redeemed in 2015 and Host L.P. issued 31.3 million units.

Property and Equipment

Property and Equipment	3 Months Ended
	Mar. 31, 2016
Property Plant And Equipment [Abstract]
Property and Equipment	4. Property and Equipment Property and equipment consists of the following (in millions): March 31, 2016 December 31, 2015 Land and land improvements $ 2,047 $ 2,044 Buildings and leasehold improvements 13,584 13,472 Furniture and equipment 2,341 2,283 Construction in progress 222 289 18,194 18,088 Less accumulated depreciation and amortization (7,643 ) (7,505 ) $ 10,551 $ 10,583

Debt

Debt	3 Months Ended
	Mar. 31, 2016
Debt Disclosure [Abstract]
Debt	5. Debt Credit facility. During the quarter, we had net borrowings under the revolver portion of our credit facility of $100 million. As of March 31, 2016, we had $592 million of available capacity under the credit facility. Mortgage debt. In connection with the sales of the Novotel and ibis Wellington, we repaid NZ$30 million ($20 million) of the mortgage loan secured by the New Zealand properties. Subsequent to quarter end, on April 1, 2016, we repaid the $100 million mortgage loan secured by the Hyatt Regency Reston, through a draw on the revolver portion of our credit facility.

Equity of Host Inc. and Capital

Equity of Host Inc. and Capital of Host L.P.	3 Months Ended
	Mar. 31, 2016
Equity [Abstract]
Equity of Host Inc. and Capital of Host L.P.	6. 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, 2015 $ 7,064 $ 40 $ 7,104 $ 143 Net income 182 — 182 2 Issuance of common stock 4 — 4 — Repurchase of common stock (81 ) — (81 ) — Dividends declared on common stock (149 ) — (149 ) — Distributions to non-controlling interests — — — (1 ) Other changes in ownership (13 ) 1 (12 ) 12 Other comprehensive income 13 — 13 — Balance, March 31, 2016 $ 7,020 $ 41 $ 7,061 $ 156 Capital of Host L.P. As of March 31, 2016, 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, 2015 $ 7,064 $ 40 $ 7,104 $ 143 Net income 182 — 182 2 Issuance of common OP units 4 — 4 — Repurchase of common OP units (81 ) — (81 ) — Distributions declared on common OP units (149 ) — (149 ) (1 ) Other changes in ownership (13 ) 1 (12 ) 12 Other comprehensive income 13 — 13 — Balance, March 31, 2016 $ 7,020 $ 41 $ 7,061 $ 156 For Host Inc. and Host L.P., during the first quarter of 2016 and 2015, we reclassified a net loss of $4 million and a net gain of $5 million, respectively, that had been recognized previously in foreign currency translation and other comprehensive income (loss) of unconsolidated affiliates in other comprehensive income related to the sale of two properties in New Zealand in 2016 and the Delta Meadowvale Hotel & Conference Centre in 2015 and recognized such gain (loss) in gain on sale of assets on our consolidated statement of operations. Dividends/Distributions On February 16, 2016, 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 April 15, 2016 to stockholders of record as of March 31, 2016. Accordingly, Host L.P. made a distribution of $0.2042988 per unit on its common OP units based on the current conversion ratio. Share In October 2015, Host Inc.’s Board of Directors authorized a second program to repurchase up to $500 million of Host Inc. common stock. During the first quarter of 2016, we repurchased 5.1 million shares at an average price of $16.08 for a total purchase price of approximately $81 million. As of March 31, 2016, we have $242 million of repurchase capacity remaining under the program. The common stock may be purchased in the open market or through private transactions, including principal transactions with various financial institutions, like accelerated share repurchases, forwards, options and similar transactions, from time to time, dependent upon market conditions. The plan does not obligate us to repurchase any specific number or any specific dollar amount of shares and may be suspended at any time at our discretion. The shares repurchased constitute authorized but unissued shares.

Dispositions

Dispositions	3 Months Ended
	Mar. 31, 2016
Disposal Group Not Discontinued Operation Disposal Disclosures [Abstract]
Dispositions	7. Dispositions During the first quarter, we sold the Novotel Wellington and ibis Wellington for NZ$67 million ($45 million) and repaid NZ$30 million ($20 million) of the mortgage loan secured by the New Zealand properties. We also sold the San Diego Marriott Mission Valley for $76 million on February 11, 2016. The following table provides summary results of operations for the three hotels sold in 2016 and eight hotels sold in 2015, which are included in continuing operations (in millions): Quarter ended March 31, 2016 2015 Revenues $ 4 $ 35 Income before taxes 2 2 Gain on disposals 58 3

Fair Value Measurements

Fair Value Measurements	3 Months Ended
	Mar. 31, 2016
Fair Value Disclosures [Abstract]
Fair Value Measurements	8. 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 March 31, 2016 and December 31, 2015, respectively (in millions): Fair Value at Measurement Date Using Balance at March 31, 2016 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) $ 6 $ — $ 6 $ — Liabilities Interest rate swap derivatives (1) (1 ) — (1 ) — Foreign currency forward sale contracts (1) (2 ) — (2 ) — Fair Value at Measurement Date Using Balance at December 31, 2015 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) $ 17 $ — $ 17 $ — Liabilities Interest rate swap derivatives (1) (1 ) — (1 ) — ___________ (1) These derivative contracts have been designated as hedging instruments. Derivatives and Hedging Interest rate swap derivatives designated as cash flow hedges. We have designated our floating-to-fixed interest rate swap derivative as a cash flow hedge. The purpose of the interest rate swap is to hedge against changes in cash flows (interest payments) attributable to fluctuations in variable rate debt. The derivative is 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 swap. Changes in the fair value of the derivative are recorded to other comprehensive income (loss) on the accompanying balance sheets. The hedge was fully effective as of March 31, 2016. The following table summarizes our interest rate swap derivative designated as a cash flow hedge (in millions): Change in Fair Value Gain (Loss) Total Notional Maturity Swapped All-in- Quarter ended March 31, Transaction Date Amount Date Index Rate 2016 2015 November 2011 (1) A$ 62 November Reuters BBSY 6.7 % $ — $ — ___________ (1) The swap was entered into in connection with the A$86 million ($66 million) mortgage loan on the Hilton Melbourne South Wharf. 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. During the first quarter, in connection with the maturity of a foreign currency forward sale contract with a total notional amount of €30 million, for which we received total proceeds of approximately $8 million, we entered into a new foreign currency forward sale contract with a total notional amount of €30 million. The gain related to the matured contract is included in accumulated other comprehensive income and will be recognized in earnings when our investment in the Euro JV has been repatriated. 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) Transaction Date Foreign Amount Forward Quarter ended March 31, Range Currency in Dollars Date Range 2016 2015 May 2014-January 2016 € 100 $ 118 May 2017-January 2018 $ (4 ) $ 14 November 2014 C$ 25 $ 22 November 2016 $ (1 ) $ 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) Outstanding Outstanding in Quarter ended March 31, Currency US$ Foreign Currency 2016 2015 Canadian dollars (1) $ 35 C$ 46 $ 2 $ 2 Euros $ 88 € 77 $ 4 $ 10 New Zealand dollars $ 21 NZ$ 30 $ 1 $ — ___________ (1) We have drawn an additional $47 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): March 31, 2016 December 31, 2015 Carrying Amount Fair Value Carrying Amount Fair Value Financial liabilities Senior notes (Level 1) $ 2,377 $ 2,478 $ 2,376 $ 2,452 Credit facility (Level 2) 1,401 1,408 1,291 1,298 Mortgage debt and other, excluding capital leases (Level 182 182 199 199

Geographic Information

Geographic Information	3 Months Ended
	Mar. 31, 2016
Segment Reporting [Abstract]
Geographic Information	9. 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 Property and Equipment, net Quarter ended March 31, March 31, December 31, 2016 2015 2016 2015 United States $ 1,296 $ 1,243 $ 10,243 $ 10,294 Australia 8 9 91 88 Brazil 7 7 58 53 Canada 10 14 73 66 Chile 5 7 48 44 Mexico 7 7 18 18 New Zealand 6 15 20 20 Total $ 1,339 $ 1,302 $ 10,551 $ 10,583

Non-Controlling Interests

Non-Controlling Interests	3 Months Ended
	Mar. 31, 2016
Noncontrolling Interest [Abstract]
Non-Controlling Interests	10. Non-controlling Interests Other Consolidated Partnerships. We consolidate four 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 $41 million and $40 million as of March 31, 2016 and December 31, 2015, respectively. One of the partnerships has a finite life that terminates in 2095, and the associated non-controlling interests are redeemable at our option at the end of, but not prior to, the finite life. Net income attributable to non-controlling interests of consolidated partnerships is included in our determination of net income. Net income (loss) attributable to non-controlling interests of third parties was immaterial for both quarters ended March 31, 2016 and 2015, 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: March 31, 2016 December 31, 2015 OP units outstanding (millions) 9.1 9.1 Market price per Host Inc. common share $ 16.70 $ 15.34 Shares issuable upon conversion of one OP unit 1.021494 1.021494 Redemption value (millions) $ 156 $ 143 Historical cost (millions) 89 90 Book value (millions) (1) 156 143 ___________ (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 quarters ended March 31, 2016 and 2015 was $2 million and $1 million, respectively.

Legal Proceedings

Legal Proceedings	3 Months Ended
	Mar. 31, 2016
Commitments And Contingencies Disclosure [Abstract]
Legal Proceedings	11. 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 $3 million as of March 31, 2016 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 Accoun18

Summary of Significant Accounting Policies (Policies)	3 Months Ended
	Mar. 31, 2016
Accounting Policies [Abstract]
New Accounting Standards	New Accounting Standards In March 2016, the Financial Accounting Standards Board (“FASB”) issued ASU No. 2016-09, Improvements to Employee Share-Based Payment Accounting In February 2016, the FASB issued ASU No. 2016-02, Leases (Topic 842) In February 2015, the FASB issued ASU No. 2015-02, Amendments to the Consolidation Analysis Additionally, three partnerships now are considered VIE’s as the general partner maintains control over the decisions that most significantly impact the partnerships; however, this consideration did not change the consolidation determination. This includes the operating partnership, Host L.P., which is consolidated by Host Inc., wherein Host Inc. is the general partner and holds 99% of the limited partner interests. Host Inc.’s sole significant asset is its investment in Host L.P. and, consequently, substantially all of Host Inc.’s assets and liabilities represent 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. We also determined that our consolidated partnership that owns the Houston Airport Marriott, wherein we are the general partner and hold 85% of the partnership interests, is a VIE. The total assets of this VIE are $60 million and consist of cash and property and equipment. Liabilities for the VIE total $1 million and consist of deferred revenue. The unconsolidated partnership that owns the Philadelphia Marriott Downtown, wherein we hold 11% of the limited partner interests, is also a VIE. The carrying amount of this investment is $(7) million and is included in advances to and investments in affiliates. The mortgage debt held by this VIE is non-recourse to us. In May 2014, the FASB issued ASU No. 2014-09, Revenue from Contracts with Customers (Topic 606) , Revenue from Contracts with Customers (Topic 606): Principal versus Agent Considerations, Revenue from Contracts with Customers (Topic 606): Deferral of the Effective Date,

Organization (Tables)

Organization (Tables)	3 Months Ended
	Mar. 31, 2016
Consolidated Portfolio of Hotels by Location	As of March 31, 2016, our consolidated portfolio, primarily consisting of luxury and upper upscale hotels, is located in the following countries: Hotels United States 92 Australia 1 Brazil 3 Canada 2 Chile 2 Mexico 1 New Zealand 2 Total 103
European Joint Venture
Consolidated Portfolio of Hotels by Location	As of March 31, 2016, the Euro JV owned hotels located in the following countries: Hotels Belgium 1 France 3 Germany 1 Spain 2 Sweden 1 The Netherlands 1 United Kingdom 1 Total 10

Earnings Per Common Share (Un20

Earnings Per Common Share (Unit) (Tables)	3 Months Ended
	Mar. 31, 2016
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 March 31, 2016 2015 Net income $ 184 $ 99 Less: Net income attributable to non-controlling interests (2 ) (1 ) Net income attributable to Host Inc. $ 182 $ 98 Basic weighted average shares outstanding 749.6 756.0 Assuming distribution of common shares granted under the comprehensive stock plans, less shares assumed purchased at market 0.1 0.3 Diluted weighted average shares outstanding (1) 749.7 756.3 Basic earnings per common share $ .24 $ .13 Diluted earnings per common share $ .24 $ .13 ___________ (1)
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 March 31, 2016 2015 Net income $ 184 $ 99 Less: Net loss attributable to non-controlling interests — — Net income attributable to Host L.P. $ 184 $ 99 Basic weighted average units outstanding 742.9 749.4 Assuming distribution of common shares granted under the comprehensive stock plans, less shares assumed purchased at market 0.1 0.3 Diluted weighted average units outstanding (1) 743.0 749.7 Basic earnings per common unit $ .25 $ .13 Diluted earnings per common unit $ .25 $ .13 ___________ (1) There were approximately 30 million potentially dilutive units for the quarter ended March 31, 2015 related to our exchangeable senior debentures, which were anti-dilutive for the period. The exchangeable senior debentures were redeemed in 2015 and Host L.P. issued 31.3 million units.

Property and Equipment (Tables)

Property and Equipment (Tables)	3 Months Ended
	Mar. 31, 2016
Property Plant And Equipment [Abstract]
Property and Equipment	Property and equipment consists of the following (in millions): March 31, 2016 December 31, 2015 Land and land improvements $ 2,047 $ 2,044 Buildings and leasehold improvements 13,584 13,472 Furniture and equipment 2,341 2,283 Construction in progress 222 289 18,194 18,088 Less accumulated depreciation and amortization (7,643 ) (7,505 ) $ 10,551 $ 10,583

Equity of Host Inc. and Capit22

Equity of Host Inc. and Capital of Host L.P. (Tables)	3 Months Ended
	Mar. 31, 2016
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, 2015 $ 7,064 $ 40 $ 7,104 $ 143 Net income 182 — 182 2 Issuance of common stock 4 — 4 — Repurchase of common stock (81 ) — (81 ) — Dividends declared on common stock (149 ) — (149 ) — Distributions to non-controlling interests — — — (1 ) Other changes in ownership (13 ) 1 (12 ) 12 Other comprehensive income 13 — 13 — Balance, March 31, 2016 $ 7,020 $ 41 $ 7,061 $ 156
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, 2015 $ 7,064 $ 40 $ 7,104 $ 143 Net income 182 — 182 2 Issuance of common OP units 4 — 4 — Repurchase of common OP units (81 ) — (81 ) — Distributions declared on common OP units (149 ) — (149 ) (1 ) Other changes in ownership (13 ) 1 (12 ) 12 Other comprehensive income 13 — 13 — Balance, March 31, 2016 $ 7,020 $ 41 $ 7,061 $ 156

Dispositions (Tables)

Dispositions (Tables)	3 Months Ended
	Mar. 31, 2016
Disposal Group Not Discontinued Operation Disposal Disclosures [Abstract]
Summary of Results of Operations for Hotels Sold Included in Continuing Operations	The following table provides summary results of operations for the three hotels sold in 2016 and eight hotels sold in 2015, which are included in continuing operations (in millions): Quarter ended March 31, 2016 2015 Revenues $ 4 $ 35 Income before taxes 2 2 Gain on disposals 58 3

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	3 Months Ended
	Mar. 31, 2016
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 March 31, 2016 and December 31, 2015, respectively (in millions): Fair Value at Measurement Date Using Balance at March 31, 2016 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) $ 6 $ — $ 6 $ — Liabilities Interest rate swap derivatives (1) (1 ) — (1 ) — Foreign currency forward sale contracts (1) (2 ) — (2 ) — Fair Value at Measurement Date Using Balance at December 31, 2015 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) $ 17 $ — $ 17 $ — Liabilities Interest rate swap derivatives (1) (1 ) — (1 ) — ___________ (1) These derivative contracts have been designated as hedging instruments.
Interest Rate Swap Derivatives Designated as Cash Flow Hedges	The following table summarizes our interest rate swap derivative designated as a cash flow hedge (in millions): Change in Fair Value Gain (Loss) Total Notional Maturity Swapped All-in- Quarter ended March 31, Transaction Date Amount Date Index Rate 2016 2015 November 2011 (1) A$ 62 November Reuters BBSY 6.7 % $ — $ — ___________ (1) The swap was entered into in connection with the A$86 million ($66 million) mortgage loan on the Hilton Melbourne South Wharf.
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) Transaction Date Foreign Amount Forward Quarter ended March 31, Range Currency in Dollars Date Range 2016 2015 May 2014-January 2016 € 100 $ 118 May 2017-January 2018 $ (4 ) $ 14 November 2014 C$ 25 $ 22 November 2016 $ (1 ) $ 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) Outstanding Outstanding in Quarter ended March 31, Currency US$ Foreign Currency 2016 2015 Canadian dollars (1) $ 35 C$ 46 $ 2 $ 2 Euros $ 88 € 77 $ 4 $ 10 New Zealand dollars $ 21 NZ$ 30 $ 1 $ — ___________ (1) We have drawn an additional $47 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): March 31, 2016 December 31, 2015 Carrying Amount Fair Value Carrying Amount Fair Value Financial liabilities Senior notes (Level 1) $ 2,377 $ 2,478 $ 2,376 $ 2,452 Credit facility (Level 2) 1,401 1,408 1,291 1,298 Mortgage debt and other, excluding capital leases (Level 182 182 199 199

Geographic Information (Tables)

Geographic Information (Tables)	3 Months Ended
	Mar. 31, 2016
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 Property and Equipment, net Quarter ended March 31, March 31, December 31, 2016 2015 2016 2015 United States $ 1,296 $ 1,243 $ 10,243 $ 10,294 Australia 8 9 91 88 Brazil 7 7 58 53 Canada 10 14 73 66 Chile 5 7 48 44 Mexico 7 7 18 18 New Zealand 6 15 20 20 Total $ 1,339 $ 1,302 $ 10,551 $ 10,583

Non-controlling Interests (Tabl

Non-controlling Interests (Tables)	3 Months Ended
	Mar. 31, 2016
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: March 31, 2016 December 31, 2015 OP units outstanding (millions) 9.1 9.1 Market price per Host Inc. common share $ 16.70 $ 15.34 Shares issuable upon conversion of one OP unit 1.021494 1.021494 Redemption value (millions) $ 156 $ 143 Historical cost (millions) 89 90 Book value (millions) (1) 156 143 ___________ (1) The book value recorded is equal to the greater of redemption value or historical cost.

Organization - Additional Infor

Organization - Additional Information (Detail)	Mar. 31, 2016HotelFundJointVentureRoom
Organization Consolidation And Presentation Of Financial Statements Disclosure [Line Items]
Number of hotels	103
European Joint Venture
Organization Consolidation And Presentation Of Financial Statements Disclosure [Line Items]
Number of hotels	10
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	3
European Joint Venture | Fund II
Organization Consolidation And Presentation Of Financial Statements Disclosure [Line Items]
Investment ownership percentage	33.40%
Number of hotels	7
Other Joint Venture
Organization Consolidation And Presentation Of Financial Statements Disclosure [Line Items]
Number of hotels	8
Number of joint ventures | JointVenture	5
Number of rooms | Room	3,300
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)	Mar. 31, 2016Hotel
Real Estate Properties [Line Items]
Hotels	103
European Joint Venture
Real Estate Properties [Line Items]
Hotels	10
United States
Real Estate Properties [Line Items]
Hotels	92
Australia
Real Estate Properties [Line Items]
Hotels	1
Brazil
Real Estate Properties [Line Items]
Hotels	3
Canada
Real Estate Properties [Line Items]
Hotels	2
Chile
Real Estate Properties [Line Items]
Hotels	2
Mexico
Real Estate Properties [Line Items]
Hotels	1
New Zealand
Real Estate Properties [Line Items]
Hotels	2
Belgium | European Joint Venture
Real Estate Properties [Line Items]
Hotels	1
France | European Joint Venture
Real Estate Properties [Line Items]
Hotels	3
Germany | European Joint Venture
Real Estate Properties [Line Items]
Hotels	1
Spain | European Joint Venture
Real Estate Properties [Line Items]
Hotels	2
Sweden | European Joint Venture
Real Estate Properties [Line Items]
Hotels	1
The Netherlands | European Joint Venture
Real Estate Properties [Line Items]
Hotels	1
United Kingdom | European Joint Venture
Real Estate Properties [Line Items]
Hotels	1

Summary of Significant Accoun29

Summary of Significant Accounting Policies - Additional Information (Detail) - USD ($)	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015	Dec. 31, 2015
Significant Accounting Policies [Line Items]
Cumulative effect of new accounting principle in period of adoption	$ 0
Investments	(313,000,000)		$ (324,000,000)
Variable Interest Entities
Significant Accounting Policies [Line Items]
Total assets of VIE	60,000,000
Liabilities of VIE	1,000,000
Variable Interest Entities Not Primary Beneficiary
Significant Accounting Policies [Line Items]
Investments	$ (7,000,000)
HOST HOTELS & RESORTS, INC.
Significant Accounting Policies [Line Items]
Percentage of the common OP units	99.00%
Philadelphia Marriott Downtown | Limited Partnership Interests Of Parent Company Ownership
Significant Accounting Policies [Line Items]
General partner and limited partner interest	11.00%
General Partner | HOST HOTELS & RESORTS, INC.
Significant Accounting Policies [Line Items]
Percentage of the common OP units	99.00%
General Partner | Houston Airport Marriott
Significant Accounting Policies [Line Items]
General partner and limited partner interest	85.00%
Fort Lauderdale Marriott Harbor Beach Resort | General Partner
Significant Accounting Policies [Line Items]
Investment ownership percentage	49.90%
New Accounting Pronouncement
Significant Accounting Policies [Line Items]
Total assets, adjustment applied due to new accounting principle in period of adoption			128,000,000
Total liabilities, adjustment applied due to new accounting principle in period of adoption			$ 150,000,000
Change on total revenues due to new accounting principle in period of adoption		$ (15,000,000)
Change on net income due to new accounting principle in period of adoption		$ (5,000,000)
Effect on equity due to new accounting principle in period of adoption	$ 0

Earnings Per Common Share (Un30

Earnings Per Common Share (Unit) - Additional Information (Detail) - HOST HOTELS & RESORTS, INC. shares in Millions	3 Months Ended
	Mar. 31, 2016shares
Shares Subject To Mandatory Redemption By Settlement Terms [Line Items]
OP units outstanding	9.1
Number of common shares that would be outstanding if OP units were converted	9.3

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
		Mar. 31, 2016	Mar. 31, 2015
Earnings Per Share [Abstract]
NET INCOME		$ 184	$ 99
Less: Net income attributable to non-controlling interests		(2)	(1)
NET INCOME ATTRIBUTABLE TO REPORTING ENTITY		$ 182	$ 98
Basic weighted average shares outstanding		749.6	756
Assuming distribution of common shares granted under the comprehensive stock plans, less shares assumed purchased at market		0.1	0.3
Diluted weighted average shares outstanding	[1]	749.7	756.3
Basic earnings per common share		$ 0.24	$ 0.13
Diluted earnings per common share		$ 0.24	$ 0.13
[1]	There were approximately 31 million potentially dilutive shares for the quarter ended March 31, 2015 related to our exchangeable senior debentures, which were anti-dilutive for the period. The exchangeable senior debentures were redeemed in 2015 in exchange for 32 million shares.

Host Inc. Earnings (Loss) Per32

Host Inc. Earnings (Loss) Per Common Share (Parenthetical) (Detail) - HOST HOTELS & RESORTS, INC. - shares shares in Millions	3 Months Ended	12 Months Ended
	Mar. 31, 2015	Dec. 31, 2015
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Anti-dilutive shares which were not included in the computation of diluted EPS	31
Shares issued in exchange of senior debentures		32

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
		Mar. 31, 2016	Mar. 31, 2015
Earnings Per Share Diluted [Line Items]
NET INCOME		$ 184	$ 99
Less: Net income attributable to non-controlling interests		(2)	(1)
NET INCOME ATTRIBUTABLE TO REPORTING ENTITY		$ 182	$ 98
Basic weighted average shares outstanding		749.6	756
Assuming distribution of common shares granted under the comprehensive stock plans, less shares assumed purchased at market		0.1	0.3
Diluted weighted average shares outstanding	[1]	749.7	756.3
Basic earnings per common share		$ 0.24	$ 0.13
Diluted earnings per common share		$ 0.24	$ 0.13
HOST HOTELS & RESORTS L.P.
Earnings Per Share Diluted [Line Items]
NET INCOME		$ 184	$ 99
NET INCOME ATTRIBUTABLE TO REPORTING ENTITY		$ 184	$ 99
Basic weighted average shares outstanding		742.9	749.4
Assuming distribution of common shares granted under the comprehensive stock plans, less shares assumed purchased at market		0.1	0.3
Diluted weighted average shares outstanding	[2]	743	749.7
Basic earnings per common share		$ 0.25	$ 0.13
Diluted earnings per common share		$ 0.25	$ 0.13
[1]	There were approximately 31 million potentially dilutive shares for the quarter ended March 31, 2015 related to our exchangeable senior debentures, which were anti-dilutive for the period. The exchangeable senior debentures were redeemed in 2015 in exchange for 32 million shares.
[2]	There were approximately 30 million potentially dilutive units for the quarter ended March 31, 2015 related to our exchangeable senior debentures, which were anti-dilutive for the period. The exchangeable senior debentures were redeemed in 2015 and Host L.P. issued 31.3 million units.

Host LP Earnings (Loss) Per C34

Host LP Earnings (Loss) Per Common Unit (Parenthetical) (Detail) - HOST HOTELS & RESORTS L.P. - shares shares in Millions	3 Months Ended	12 Months Ended
	Mar. 31, 2015	Dec. 31, 2015
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
Units issued by Host L.P.		31.3

Summary of Property and Equipme

Summary of Property and Equipment (Detail) - USD ($) $ in Millions	Mar. 31, 2016	Dec. 31, 2015
Property Plant And Equipment [Abstract]
Land and land improvements	$ 2,047	$ 2,044
Buildings and leasehold improvements	13,584	13,472
Furniture and equipment	2,341	2,283
Construction in progress	222	289
Property, Plant and Equipment, Gross, Total	18,194	18,088
Less accumulated depreciation and amortization	(7,643)	(7,505)
Property and equipment, net	$ 10,551	$ 10,583

Debt - Additional Information (

Debt - Additional Information (Detail) NZD in Millions, $ in Millions	Apr. 01, 2016USD ($)	Mar. 31, 2016USD ($)	Mar. 31, 2016NZD
Debt Instrument [Line Items]
Repayment of mortgage		$ 20
Novotel and ibis Wellington
Debt Instrument [Line Items]
Repayment of mortgage		20	NZD 30
Revolving Credit Facility
Debt Instrument [Line Items]
Net borrowings under revolver portion of credit facility		100
Amount of borrowing capacity currently available under the credit facility		$ 592
Hyatt Regency Reston | Subsequent Event
Debt Instrument [Line Items]
Repayment of mortgage	$ 100

Equity Allocation between Contr

Equity Allocation between Controlling and Non-Controlling Interests (Detail) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Stockholders Equity Note [Line Items]
Beginning Balance	$ 7,104
NET INCOME ATTRIBUTABLE TO REPORTING ENTITY	182	$ 98
Net income	2	1
Other comprehensive income	13	$ (37)
Ending Balance	7,061
HOST HOTELS & RESORTS, INC.
Stockholders Equity Note [Line Items]
Beginning Balance	7,104
Net income	182
Issuance of common stock	4
Repurchase of common stock /OP units	(81)
Dividends declared on common stock	(149)
Other changes in ownership	(12)
Other comprehensive income	13
Ending Balance	7,061
HOST HOTELS & RESORTS, INC. | Parent
Stockholders Equity Note [Line Items]
Beginning Balance	7,064
NET INCOME ATTRIBUTABLE TO REPORTING ENTITY	182
Issuance of common stock	4
Repurchase of common stock /OP units	(81)
Dividends declared on common stock	(149)
Other changes in ownership	(13)
Other comprehensive income	13
Ending Balance	7,020
HOST HOTELS & RESORTS, INC. | Non-redeemable, non-controlling interest
Stockholders Equity Note [Line Items]
Beginning Balance	40
Other changes in ownership	1
Ending Balance	41
HOST HOTELS & RESORTS, INC. | Redeemable non-controlling interests
Stockholders Equity Note [Line Items]
Beginning Balance	143
Net income	2
Distributions to non-controlling interests	(1)
Other changes in ownership	12
Ending Balance	$ 156

Equity of Host Inc. and Capit38

Equity of Host Inc. and Capital of Host L.P. - Additional Information (Detail) $ / shares in Units, shares in Millions	Feb. 16, 2016$ / shares	Mar. 31, 2016USD ($)$ / sharesshares	Mar. 31, 2015USD ($)	Dec. 31, 2015	Oct. 31, 2015USD ($)
Stockholders Equity Note [Line Items]
Amounts reclassified from other comprehensive income (loss)		$ (4,000,000)	$ 5,000,000
HOST HOTELS & RESORTS, INC.
Stockholders Equity Note [Line Items]
Percentage of the common OP units		99.00%
Dividend declaration date		Feb. 16, 2016
Dividend per share, declared | $ / shares	$ 0.20
Dividend payable date		Apr. 15, 2016
Dividend record date		Mar. 31, 2016
Common stock repurchase, shares | shares		5.1
Common stock repurchase, average price per share | $ / shares		$ 16.08
Common stock repurchase, value		$ 81,000,000
Stock Repurchase Program capacity		$ 242,000,000
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
Amounts reclassified from other comprehensive income (loss)		$ (4,000,000)	$ 5,000,000
Common OP units, distribution paid | $ / shares		$ 0.2042988
Common stock repurchase, value		$ 81,000,000

Capital Allocation between Cont

Capital Allocation between Controlling and Non-Controlling Interests (Detail) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Limited Partners Capital Account [Line Items]
Beginning Balance	$ 7,104
NET INCOME ATTRIBUTABLE TO REPORTING ENTITY	182	$ 98
Net income	2	1
Other comprehensive income	13	(37)
Ending Balance	7,061
HOST HOTELS & RESORTS L.P.
Limited Partners Capital Account [Line Items]
Beginning Balance	7,104
NET INCOME ATTRIBUTABLE TO REPORTING ENTITY	184	99
Net income	182
Issuance of common OP units	4
Repurchase of common stock /OP units	(81)
Distributions declared on common OP units	(149)
Other changes in ownership	(12)
Other comprehensive income	13	$ (37)
Ending Balance	7,061
HOST HOTELS & RESORTS L.P. | Parent
Limited Partners Capital Account [Line Items]
Beginning Balance	7,064
NET INCOME ATTRIBUTABLE TO REPORTING ENTITY	182
Issuance of common OP units	4
Repurchase of common stock /OP units	(81)
Distributions declared on common OP units	(149)
Other changes in ownership	(13)
Other comprehensive income	13
Ending Balance	7,020
HOST HOTELS & RESORTS L.P. | Non-controlling Interests
Limited Partners Capital Account [Line Items]
Beginning Balance	40
Other changes in ownership	1
Ending Balance	41
HOST HOTELS & RESORTS L.P. | Limited Partnership Interests Of Third Parties
Limited Partners Capital Account [Line Items]
Beginning Balance	143
Net income	2
Distributions declared on common OP units	(1)
Other changes in ownership	12
Ending Balance	$ 156

Dispositions - Additional Infor

Dispositions - Additional Information (Detail) NZD in Millions, $ in Millions	Feb. 11, 2016USD ($)	Mar. 31, 2016USD ($)Hotel	Mar. 31, 2016NZDHotel	Mar. 31, 2015USD ($)	Dec. 31, 2015Hotel
Income Statement Balance Sheet And Additional Disclosures By Disposal Groups Including Discontinued Operations [Line Items]
Proceeds from sales of assets, net		$ 115		$ 33
Mortgage repayment		$ 20
Number of hotels sold | Hotel		3	3		8
Novotel Wellington and ibis Wellington
Income Statement Balance Sheet And Additional Disclosures By Disposal Groups Including Discontinued Operations [Line Items]
Proceeds from sales of assets, net		$ 45	NZD 67
Mortgage repayment		$ 20	NZD 30
San Diego Marriott Mission Valley
Income Statement Balance Sheet And Additional Disclosures By Disposal Groups Including Discontinued Operations [Line Items]
Proceeds from sales of assets, net	$ 76

Summary of Results of Operation

Summary of Results of Operations for Three Hotels Sold in Twenty Sixteen and Eight Hotels Sold in Twenty Fifteen which are Included in Continuing Operations (Detail) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Disposal Group Not Discontinued Operation Disposal Disclosures [Abstract]
Revenues	$ 4	$ 35
Income before taxes	2	2
Gain on disposals	$ 58	$ 3

Fair Value of Financial Assets

Fair Value of Financial Assets and Liabilities (Detail) - USD ($) $ in Millions		Mar. 31, 2016	Dec. 31, 2015
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]	$ 6	$ 17
Fair value measurements on a recurring basis, Liabilities	[1]	(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]	(1)	(1)
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]	6	17
Fair value measurements on a recurring basis, Liabilities	[1]	(2)
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]	$ (1)	$ (1)
[1]	These derivative contracts have been designated as hedging instruments.

Interest Rate Swap Derivatives

Interest Rate Swap Derivatives Designated as Cash Flow Hedges (Detail) $ in Millions		3 Months Ended
		Mar. 31, 2016USD ($)	Mar. 31, 2015USD ($)	Mar. 31, 2016AUD
Derivative [Line Items]
Change in Fair Value Gain (Loss) | $		$ (5)	$ 15
Cash Flow Hedging | Interest rate swap derivatives | Swap Entered In Connection With Mortgage Loan On Hilton Melbourne South Wharf | Australia
Derivative [Line Items]
Transaction Date	[1]	2011-11
Notional amount | AUD	[1]			AUD 62,000,000
Maturity Date	[1]	2016-11
Swapped Index	[1]	Reuters BBSY
All-in-Rate	[1]			6.70%
[1]	The swap was entered into in connection with the A$86 million ($66 million) mortgage loan on the Hilton Melbourne South Wharf.

Interest Rate Swap Derivative44

Interest Rate Swap Derivatives Designated as Cash Flow Hedges (Parenthetical) (Detail) AUD in Millions, $ in Millions	Mar. 31, 2016USD ($)	Mar. 31, 2016AUD	Dec. 31, 2015USD ($)
Derivative [Line Items]
Mortgage debt	$ 183		$ 200
Interest Rate Swap | Australia | Swap Entered In Connection With Mortgage Loan On Hilton Melbourne South Wharf
Derivative [Line Items]
Mortgage debt	$ 66	AUD 86

Fair Value Measurements - Addit

Fair Value Measurements - Additional Information (Detail) - 3 months ended Mar. 31, 2016 $ in Millions	USD ($)	EUR (€)Contract
Derivative Instruments And Hedging Activities Disclosures [Line Items]
Number of foreign currency forward contracts outstanding | Contract		5
Matured Foreign Currency Forward Sale Contracts
Derivative Instruments And Hedging Activities Disclosures [Line Items]
Notional amount		€ 30,000,000
Foreign Exchange Contract
Derivative Instruments And Hedging Activities Disclosures [Line Items]
Proceeds from sale of foreign currency forward contracts | $	$ 8
New foreign currency forward sale contracts
Derivative Instruments And Hedging Activities Disclosures [Line Items]
Notional amount		€ 30,000,000

Foreign Currency Sale Contracts

Foreign Currency Sale Contracts (Detail) - Foreign Exchange Contract	3 Months Ended
	Mar. 31, 2016USD ($)	Mar. 31, 2015USD ($)	Mar. 31, 2016EUR (€)	Mar. 31, 2016CAD
Euros
Derivative [Line Items]
Total transaction amount	$ 118,000,000		€ 100,000,000
Change in fair value gain (loss)	$ (4,000,000)	$ 14,000,000
Euros | Minimum
Derivative [Line Items]
Transaction Date Range	2014-05
Forward purchase date range	2017-05
Euros | Maximum
Derivative [Line Items]
Transaction Date Range	2016-01
Forward purchase date range	2018-01
Canadian Dollars
Derivative [Line Items]
Transaction Date Range	2014-11
Total transaction amount	$ 22,000,000			CAD 25,000,000
Forward purchase date range	2016-11
Change in fair value gain (loss)	$ (1,000,000)	$ 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, NZD in Millions, CAD in Millions, $ in Millions		3 Months Ended
		Mar. 31, 2016USD ($)	Mar. 31, 2015USD ($)	Mar. 31, 2016NZD	Mar. 31, 2016EUR (€)	Mar. 31, 2016CAD	Dec. 31, 2015USD ($)
Debt Instrument Designated As Hedges Of Net Investment In Foreign Operations [Line Items]
Credit facility		$ 1,401					$ 1,291
Foreign currency translation and other comprehensive income (loss) of unconsolidated affiliates		14	$ (47)
Canadian Dollars
Debt Instrument Designated As Hedges Of Net Investment In Foreign Operations [Line Items]
Credit facility	[1]	35				CAD 46
Foreign currency translation and other comprehensive income (loss) of unconsolidated affiliates	[1]	2	2
Euros
Debt Instrument Designated As Hedges Of Net Investment In Foreign Operations [Line Items]
Credit facility		88			€ 77
Foreign currency translation and other comprehensive income (loss) of unconsolidated affiliates		4	$ 10
New Zealand Dollars
Debt Instrument Designated As Hedges Of Net Investment In Foreign Operations [Line Items]
Credit facility		21		NZD 30
Foreign currency translation and other comprehensive income (loss) of unconsolidated affiliates		$ 1
[1]	We have drawn an additional $47 million on the credit facility in Canadian dollars, which draw has not been designated as a hedging instrument.

Draws on Credit Facility that48

Draws on Credit Facility that are Designated as Net Investments in Foreign Operations (Parenthetical) (Detail) CAD in Millions, $ in Millions		Mar. 31, 2016USD ($)	Mar. 31, 2016CAD	Dec. 31, 2015USD ($)
Derivative Instruments And Hedging Activities Disclosures [Line Items]
Credit facility		$ 1,401		$ 1,291
Canadian Dollars
Derivative Instruments And Hedging Activities Disclosures [Line Items]
Credit facility	[1]	35	CAD 46
Canadian Dollars | Not Designated as Hedging Instrument
Derivative Instruments And Hedging Activities Disclosures [Line Items]
Credit facility		$ 47
[1]	We have drawn an additional $47 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	Mar. 31, 2016	Dec. 31, 2015
Financial liabilities
Senior notes	$ 2,377	$ 2,376
Credit facility, carrying value	1,401	1,291
Mortgage debt and other, excluding capital leases, carrying value	182	199
Quoted Prices in Active Markets for Identical Assets (Level 1)
Financial liabilities
Senior notes (Level 1), fair value	2,478	2,452
Significant Other Observable Inputs (Level 2)
Financial liabilities
Credit facility (Level 2), fair value	1,408	1,298
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	$ 182	$ 199

Geographic Information - Additi

Geographic Information - Additional Information (Detail)	3 Months Ended
	Mar. 31, 2016SegmentCountry
Segment Reporting Information [Line Items]
Number of operating segments | Segment	1
Non-US
Segment Reporting Information [Line Items]
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
	Mar. 31, 2016	Mar. 31, 2015	Dec. 31, 2015
Segment Reporting Information [Line Items]
Revenues	$ 1,339	$ 1,302
Property and equipment, net	10,551		$ 10,583
United States
Segment Reporting Information [Line Items]
Revenues	1,296	1,243
Property and equipment, net	10,243		10,294
Australia
Segment Reporting Information [Line Items]
Revenues	8	9
Property and equipment, net	91		88
Brazil
Segment Reporting Information [Line Items]
Revenues	7	7
Property and equipment, net	58		53
Canada
Segment Reporting Information [Line Items]
Revenues	10	14
Property and equipment, net	73		66
Chile
Segment Reporting Information [Line Items]
Revenues	5	7
Property and equipment, net	48		44
Mexico
Segment Reporting Information [Line Items]
Revenues	7	7
Property and equipment, net	18		18
New Zealand
Segment Reporting Information [Line Items]
Revenues	6	$ 15
Property and equipment, net	$ 20		$ 20

Non-Controlling Interests - Add

Non-Controlling Interests - Additional Information (Detail) $ in Millions	3 Months Ended
	Mar. 31, 2016USD ($)Entity	Mar. 31, 2015USD ($)	Dec. 31, 2015USD ($)
Minority Interest [Line Items]
Number of majority-owned partnerships that have third-party, non-controlling ownership interests that have been consolidated | Entity	4
Non-controlling interests—other consolidated partnerships | $	$ 41		$ 40
Number of majority-owned partnerships that have third-party, non-controlling ownership interests with finite lives | Entity	1
Majority-owned partnerships with mandatorily redeemable non-controlling interests, termination year	2,095
Net income | $	$ 2	$ 1
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

Historical Cost and Redemption

Historical Cost and Redemption Values for Non-Controlling Interests (Detail) $ / shares in Units, shares in Millions, $ in Millions		Mar. 31, 2016USD ($)$ / sharesshares	Dec. 31, 2015USD ($)$ / sharesshares
Shares Subject To Mandatory Redemption By Settlement Terms [Line Items]
Book value (millions)		$ 156	$ 143
HOST HOTELS & RESORTS L.P.
Shares Subject To Mandatory Redemption By Settlement Terms [Line Items]
OP units outstanding (millions) | shares		9.1	9.1
Market price per Host Inc. common share | $ / shares		$ 16.70	$ 15.34
Shares issuable upon conversion of one OP unit		1.021494	1.021494
Redemption value (millions)		$ 156	$ 143
Historical cost (millions)		89	90
Book value (millions)	[1]	$ 156	$ 143
[1]	The book value recorded is equal to the greater of redemption value or historical cost.

Legal Proceedings - Additional

Legal Proceedings - Additional Information (Detail)	Mar. 31, 2016USD ($)
Loss Contingencies [Line Items]
Loss contingency accrual	$ 3,000,000
Maximum exposure of litigation	10,000,000
Other Litigation Cases
Loss Contingencies [Line Items]
Estimate of possible losses	$ 150,000