Host Hotels buys 1 Hotel Brooklyn Bridge and Renaissance Plano for $374 million

Host Hotels & Resorts is buying 1 Hotel Brooklyn Bridge and the Renaissance Plano for a combined total of roughly $374 million. The real estate investment trust announced the acquisitions on the same day it released its third-quarter 2026 earnings, in an acquisition release dated 5 November.

The Brooklyn hotel is Host's first property in the borough and its fourth in New York City. Host bought 1 Central Park from Starwood Capital Group in 2024 for $265 million, so the 1 Hotel brand is now a repeat purchase.

Chief executive James Risoleo said on Thursday's call that the Brooklyn hotel has easy access to Manhattan, strong local demand and little new competition. He said it takes Host's luxury presence in New York into a new submarket.

Risoleo added that the purchase further strengthens the company's relationship with the 1 Hotel brand. Host did not give a separate price for each hotel in the material we reviewed, only the roughly $374 million combined figure for both.

Renaissance Plano is Host's way into Dallas-Fort Worth, a market Risoleo called high-growth. He described it as a uniquely positioned asset in the Plano-Frisco submarket. The property has 16 suites and 35,000 square feet of meetings space.

The Texas hotel also has an outdoor pool and what Host describes as robust food, beverage and amenities offerings. Risoleo told analysts it draws on strong business transient, corporate group and social demand.

He pointed to more than 75 Forbes Global 2000 companies in the area. In his words, the submarket is well-positioned to benefit from continued corporate relocations and planned entertainment district development.

Third-quarter results and raised guidance

Host's third-quarter comparable hotel RevPAR grew 8.8% year over year. The company attributed the rise to very strong transient demand through the quarter, boosted by the World Cup and an increase in business transient demand.

Comparable hotel total RevPAR grew 7.3% over the same period. According to the earnings release, that was driven by increases in room rates and continued growth in food and beverage spend.

Host raised its 2026 guidance. It now expects comparable hotel RevPAR to rise about 6.75% for the full year, and comparable hotel total RevPAR to rise about 6%.

On 2027, Risoleo said Host remains optimistic about the travel outlook. He cited a favourable demand environment, the strength of the high-end consumer, growth in business travel and historically low supply growth across its markets and chain scales.

A portfolio reshaped by sales

The purchases follow a year of disposals. In February, Host sold the 444-key Four Seasons Resort Orlando at Walt Disney World Resort in Florida for part of a combined $1.1 billion, alongside the 125-key Four Seasons Resort and Residences Jackson Hole in Wyoming.

A month before that, the REIT sold the St. Regis Houston for $51 million. The two Four Seasons resorts and the St. Regis were all sales, which makes the Brooklyn and Plano purchases a swing back to buying.

The portfolio currently includes 72 properties in the U.S. and five internationally, totalling about 41,800 rooms, according to the 5 November release. The two new hotels are not yet counted in that figure, as the release preceded the deals closing.

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