Host Marriott Corp.

6903 Rockledge Dr., Suite 1500

Year founded: 1927

Industry: Hospitality/travel

Post 200 Category: Top 125 Companies

Revenue: $3.64 Billion

Net Income/Loss: n/a

Earnings per share: ($0.12)

Dividend: $0.05

Stockholder equity: $2.40 Billion

Auditor: KPMG LLP

Stock: HMT

Assets: $8.42 Billion

Market capitalization: $5.92 Billion

52-week high: 17.4 12/31/2004

52-week low: 11.16 5/12/2004

Chairman: Richard E. Marriott

President and CEO: Christopher J. Nassetta

Employees: 192

Local employees: 162

Description: Host Marriott is a real estate investment trust that owns or controls 107 hotels containing about 55,000 rooms around North America. Most, but not all, of the properties are managed by Marriott International under the Marriott and Ritz-Carlton brand names. Its local portfolio includes the J.W. Marriott downtown and the Ritz-Carlton in Tysons Corner. Host was spun off from Marriott International in 1993.

Developments: In 2004, Host bought and sold hotel interests as part of a continuing effort to reshape its portfolio to own exclusively luxury and "upper upscale" properties. Company executives say that segment of the market offers the best long-term potential for revenue growth. So Host sold six mid-market Marriott Hotels in December and January for a combined $223 million. And in December, Host said it will sell 85 percent of its interest in a joint venture to own 120 limited-service Marriott Courtyard hotels for $92 million to an institutional investor. It can sell the rest of its interest in the joint venture from 2007 to 2009. Host plans to use funds from the sales of both the individual properties and the Courtyard joint venture to buy higher-end properties that fit with the company's current strategy or to pay down debt. Host's acquisitions last year included the $58 million purchase of the Scottsdale Marriott at McDowell Mountains in Arizona, and it announced a $60 million renovation of the Newport Beach Marriott Hotel. The rebound in the tourism business last year benefited Host, resulting in higher room rates and lower vacancy across its portfolio. Operating profit rose 36 percent over 2003, to $407 million, although the company broke even overall.