(Source: PRNewswire-FirstCall)
Bethesda, Md., April 23 /PRNewswire-FirstCall/ -- Host Hotels & Resorts, Inc. announced that it has commenced an underwritten public offering of 60,000,000 shares of its common stock. The joint book-running managers for this offering are Merrill Lynch & Co. and Deutsche Bank Securities. The underwriters will be granted a 30-day option to purchase up to an additional 9,000,000 shares of common stock to cover over-allotments, if any.
(Logo: http://www.newscom.com/cgi-bin/prnh/20060417/HOSTLOGO )
The Company intends to use the net proceeds from the offering for general corporate purposes and the repayment of indebtedness.
The offering is being made pursuant to a shelf registration statement filed with the Securities and Exchange Commission, which became effective on November 25, 2008. A prospectus supplement relating to the offering will be filed with the Securities and Exchange Commission.
This press release does not constitute an offer to sell or the solicitation of an offer to buy any of the securities, nor shall there be any sale of the securities in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such state. Copies of the preliminary prospectus supplement and the accompanying prospectus relating to these securities may be obtained from Merrill Lynch & Co., Attention: Prospectus Department, 4 World Financial Center, New York, New York 10080, or from Deutsche Bank Securities, Attention: Prospectus Department, 100 Plaza One, Jersey City, New Jersey 07311, telephone: (800) 503-4611 or e-mail at prospectusrequest@list.db.com.
About Host Hotels & Resorts
Host Hotels & Resorts, Inc. is a lodging real estate investment trust and owner of luxury and upper upscale hotels. The Company currently owns 116 properties with approximately 63,000 rooms, and also holds a minority interest in a joint venture that owns 11 hotels in Europe with over 3,500 rooms. The Company partners with premium brands such as Marriott(R), Ritz-Carlton(R), Westin(R), Sheraton(R), W(R), St. Regis(R), The Luxury Collection(R), Hyatt(R), Fairmont(R), Four Seasons(R), Hilton(R) and Swissotel(R)* 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.
