Host Hotels & Resorts, the Bethesda-based lodging real estate investment trust that has 13 Washington area hotels in its portfolio, boosted its revenue by nearly 30 percent in 2006 to $4.9 billion, the company announced Wednesday in its quarterly earnings report.
Earnings for the period rose 41 percent to about $1.7 billion.
Host’s April 2006 acquisition of 38 high-end Starwood-branded hotels for more than $4 billion spurred the growth in revenue.
The Starwood portfolio added $762 million in revenue in 2006. Without the Starwood acquisition, Host saw a revenue increase of 9.6 percent for the year.
Net income also jumped from $122 million to $196 million in the fourth quarter and $572 million to $738 million for the full year.
Host owns nearly 100 hotels in the U.S. and around the globe, including 13 properties in the Washington region.
The JW Marriott and the Westin Grand in the District, The Ritz-Carlton in Tysons Corner and the Gaithersburg Marriott are all included in Host’s portfolio.
All told, Host has 5,335 rooms in the Washington region that rent, on average, for a daily rate of about $192.45.
