(Source: PRNewswire)Bethesda, Md., April 27 /PRNewswire-FirstCall/ -- Host Hotels & Resorts, Inc. (NYSE: HST) today announced that on Friday, April 24, 2009, the underwriters exercised, in full, their option to purchase up to an additional 9,750,000 shares of common stock to cover over- allotments in connection with the Company's previously announced public offering of 66,000,000 shares of common stock at $6.60 per share. The Company intends to use the net proceeds from the offering, which are expected to be approximately $479 million (after giving effect to the exercise of the underwriters' option to purchase additional shares), for general corporate purposes and the repayment of indebtedness.

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Merrill Lynch & Co., Deutsche Bank Securities, Goldman, Sachs & Co. and J.P.Morgan acted as joint book-running managers for the offering, and ABN AMRO Incorporated, Barclays Capital, BNY Mellon Capital Markets, LLC, Calyon Securities (USA) Inc., Citi, Raymond James, Scotia Capital, UBS Investment Bank and Wachovia Securities acted as co-managers. Subject to customary conditions, the offering and option exercise are expected to close on April 29, 2009.

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 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.

Note: This press release contains forward-looking statements within the meaning of federal securities regulations.