HST Host Hotels and Resorts Inc

BETHESDA, Md., Dec. 17 /PRNewswire-FirstCall/ -- Host Hotels & Resorts, Inc. (NYSE:HST) announced the results of the election of its stockholders relating to its special dividend of $0.25 per share on its common stock, payable on December 18, 2009 to common stockholders of record at the close of business on November 6, 2009. (Logo: http://www.newscom.com/cgi-bin/prnh/20060417/HOSTLOGO ) Based on the stockholder elections, the special dividend will consist of approximately $15.6 million of cash and approximately 13.4 million shares of common stock. The value per share used to determine the number of shares to be issued was calculated based on the volume weighted average price per share of the Company's common stock on the New York Stock Exchange for the three-day period ended December 9, 2009, or $10.4584 per share. All fractional shares will be paid in cash. Summarized results of the dividend election are as follows: -- Holders of 84,582,030 shares of common stock elected to receive the dividend all in common stock, and will receive the dividend all in stock; and -- Holders of 538,830,272 shares of common stock elected to receive the dividend all in cash, and will receive $0.028924 per share in cash (11.6%) and $0.221076 per share in stock (88.4%). The special dividend will be taxable to stockholders for U.S. federal income tax purposes, without regard to whether payment is received in cash, shares of common stock, or a combination of both. Registered stockholders with questions regarding the dividend election may call Computershare Trust Company, N.A., the Information Agent, at 866-367-6351. Stockholders who hold their shares through a bank, broker, or nominee and have questions regarding the dividend election should contact their bank, broker or nominee. The issuance of 13.4 million shares of common stock pursuant to this dividend will result in an increase of approximately 2% in shares outstanding as of the record date of November 6, 2009. ABOUT HOST HOTELS & RESORTS Host Hotels & Resorts, Inc. is an S&P 500 and Fortune 500 company that is the largest lodging real estate investment trust and one of the largest owners of luxury and upper upscale hotels. The Company currently owns 112 properties with approximately 62,000 rooms, and also holds a minority interest in a joint venture that owns 11 hotels in Europe with over 3,500 rooms. Guided by a disciplined approach to capital allocation and aggressive asset management, the Company partners with premium brands such as Marriott®, Ritz-Carlton®, Westin®, Sheraton®, W®, St. Regis®, The Luxury Collection®, Hyatt®, Fairmont®, Four Seasons®, Hilton® and Swissotel®* in the operation of properties in over 50 major markets worldwide. For additional information, please visit the Company's website at http://www.hosthotels.com/. Note: This press release contains forward-looking statements within the meaning of federal securities regulations. These forward-looking statements are identified by their use of terms and phrases such as "anticipate," "believe," "could," "estimate," "expect," "intend," "may," "plan," "predict," "project," "will," "continue" and other similar terms and phrases, including references to assumption and forecasts of future results. Forward-looking statements are not guarantees of future performance and involve known and unknown risks, uncertainties and other factors which may cause the actual results to differ materially from those anticipated at the time the forward-looking statements are made. These risks include, but are not limited to: international, national and local economic and business conditions that will affect occupancy rates at our hotels and the demand for hotel products and services; operating risks associated with the hotel business; risks associated with the level of our indebtedness and our ability to meet covenants in our debt agreements; relationships with property managers; our ability to maintain our properties in a first-class manner, including meeting capital expenditure requirements; our ability to compete effectively in areas such as access, location, quality of accommodations and room rate structures; changes in travel patterns, taxes and government regulations which influence or determine wages, prices, construction procedures and costs; our ability to complete acquisitions and dispositions; and our ability to continue to satisfy complex rules in order for us to qualify as a REIT for federal income tax purposes and other risks and uncertainties associated with our business described in the Company's filings with the SEC. Although the Company believes the expectations reflected in such forward-looking statements are based upon reasonable assumptions, it can give no assurance that the expectations will be attained or that any deviation will not be material. All information in this release is as of the date of this release, and the Company undertakes no obligation to update any forward-looking statement to conform the statement to actual results or changes in the Company's expectations. * This press release contains registered trademarks that are the exclusive property of their respective owners. None of the owners of these trademarks has any responsibility or liability for any information contained in this press release. http://www.newscom.com/cgi-bin/prnh/20060417/HOSTLOGO http://photoarchive.ap.org/ DATASOURCE: Host Hotels & Resorts, Inc. CONTACT: Investor Relations of Host Hotels & Resorts, Inc., +1-240-744-5800 Web Site: http://www.hosthotels.com/

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