Host Hotels & Resorts
|Host Hotels & Resorts Inc.
|Seat||Bethesda, Maryland , United States|
|management||James Risoleo, CEO|
|Number of employees||220|
|As of December 31, 2016|
Host Hotels & Resorts (formerly: Host Marriott Corporation ) is an American real estate company ( REIT ) based in Bethesda , Maryland , USA , which specializes in the acquisition and ownership of luxury hotels . In 2006, it was the 502nd of the 1000 largest American companies listed in Fortune magazine's Fortune 1000 list and is one of the world's largest owners of hotels. It was founded in 1993 after the Marriott Corporation was split into two separate and independent companies. While Marriott International Inc. was founded to operate and manage all of the Marriott brands, the host Marriott Corporation became a US real estate company. The company currently owns 96 homes in the United States, Australia , Brazil , Canada , and Mexico and is franchised by various hospitality companies.
In October 1993, the Marriott Corporation was split into two companies, the Marriott International, Inc. and the Host Marriott Corporation. After the split the company owned 140 hotel properties as well as the host Marriott Operating Group, which offered food, drinks and goods at airports and toll roads .
In 1994 the company began to specialize more and more in owning classic hotels by selling all of its retirement homes and Fairield Inn hotels that year and acquiring 15 new full service hotels at the same time.
In December 1995, the Host Marriott Operating Group was separated from the company and was now continued as Host Marriott Services as an independent company. As a result of this split, Host Marriott Corporation further separated from the operational business.
In January 1999 it hosted a real estate investment trust (REIT). In accordance with the US legislation on REIT cartels, Host now had to lease its real estate to a third party, for which purpose Crestline Capital Corporation was separated from the company in December 1998.
In November 2005 it was announced that the American hotel group Starwood is selling its 38 hotels in the USA and abroad to Marriott Corporation for just under $ 4.1 billion. The hotels have a total of around 19,000 rooms. 28 hotels are located in North America, 2 each in Asia and Latin America 6 hotels are in Europe.
On April 19, 2006, the company was renamed from Host Marriott Corporation to Host Hotels & Resorts, Inc.