What is Host Hotels & Resorts, Inc. worth?
With the base-case assumptions below, a discounted cash flow model on Host Hotels & Resorts, Inc.'s reported free cash flow gives $53.95 per share. The share price was $22.42 on September 25, 2026, 58% below that value.
Inputs from the filings
Three sets of assumptions
| Case | Growth yrs 1-5 | Discount rate | Value per share | Value vs price |
|---|---|---|---|---|
| Bear | 10.0% | 10.0% | $31.01 | +38% |
| Base | 15.0% | 9.0% | $53.95 | +141% |
| Bull | 20.0% | 8.0% | $96.65 | +331% |
Sensitivity: base case value per share
| 1.5% | 2.0% | 2.5% | 3.0% | 3.5% | |
|---|---|---|---|---|---|
| 7.0% | $71.31 | $76.73 | $83.34 | $91.62 | $102.25 |
| 8.0% | $58.27 | $61.78 | $65.93 | $70.91 | $76.99 |
| 9.0% | $48.77 | $51.17 | $53.95 | $57.18 | $61.00 |
| 10.0% | $41.58 | $43.28 | $45.22 | $47.43 | $49.98 |
| 11.0% | $35.95 | $37.20 | $38.60 | $40.17 | $41.95 |
Where the presets come from
Base: years 1 to 5 grow at Host Hotels & Resorts, Inc.'s revenue growth rate over the last 5 fiscal years (30.4% a year), held between -5% and 15%. Years 6 to 10 grow halfway between that and the long-run rate of 2.5%. Future cash is discounted at 9% a year.
Bear: 5 points less growth, 2% long-run growth, 10% discount rate. Bull: 5 points more growth (at most 25%), 3% long-run growth, 8% discount rate.
Value per share = (present value of 10 years of free cash flow + present value of everything after + cash - debt) / diluted shares.
This is a model run on assumptions, not a recommendation or a price target. Small changes in the discount rate or growth move the result a lot, as the table above shows. Change them yourself in the calculator.
Adjust the assumptions
Move the sliders for growth, long-run growth and discount rate, or switch to average free cash flow, and see the value per share change.
Adjust the assumptions