Host Hotels & Resorts, Inc. Reports Results of Operations for the Fourth Quarter and Full Year 2008

Host Hotels & Resorts, Inc. (NYSE:HST) , the nation's largest lodging real estate investment trust (REIT), today announced its results of operations for the fourth quarter and for the full year ended December 31, 2008.

• Total revenue decreased $157 million, or 8.7%, to $1,647 million for the fourth quarter and decreased $123 million, or 2.3%, to $5,288 million for full year 2008.
• Net income decreased $172 million to $122 million and net income from continuing operations decreased $146 million to $122 million for the fourth quarter. For the full year 2008, net income decreased $300 million to $427 million and net income from continuing operations decreased $144 million to $402 million compared to 2007. Earnings per diluted share decreased $.35 to $.19 for the fourth quarter and decreased $.57 to $.76 for full year 2008.

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