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CONSOLIDATED STATEMENTS OF OPERATIONS (USD $)
In Millions, except Per Share data, unless otherwise specified
12 Months Ended
Dec. 31, 2010
Dec. 31, 2009
Dec. 31, 2008
REVENUES      
Total revenues $ 4,428.0 $ 4,135.0 $ 5,108.0
EXPENSES      
Interest expense (384) [1] (379) [2] (375)
Income (loss) before income taxes (159) (236) 379
Less: Net (income) loss attributable to non- controlling interests (2) (5) 16
HOST HOTELS & RESORTS, INC.
     
REVENUES      
Rooms 2,661 2,484 3,098
Food and beverage 1,291 1,234 1,545
Other 277 310 346
Total revenues for owned hotels 4,229 4,028 4,989
Other revenues 199 107 119
Total revenues 4,428.0 4,135.0 5,108.0
EXPENSES      
Rooms 734 681 760
Food and beverage 965 933 1,130
Other departmental and support expenses 1,151 1,099 1,248
Management fees 171 158 241
Other property-level expenses 488 386 384
Depreciation and amortization 591 613 553
Corporate and other expenses 108 116 58
Gain on insurance settlement (3)   (7)
Total operating costs and expenses 4,205 3,986 4,367
OPERATING PROFIT 223 149 741
Interest income 8.0 7.0 20.0
Interest expense (384) (379) (375)
Net gains on property transactions and other 1 14 2
Gain (loss) on foreign currency transactions and derivatives (6) 5 1
Equity in losses of affiliates (1) (32) (10)
Income (loss) before income taxes (159) (236) 379
Benefit (provision) for income taxes 31 39 3
INCOME (LOSS) FROM CONTINUING OPERATIONS (128) (197) 382
Income (loss) from discontinued operations, net of tax (4) (61) 32
Net income (loss) (132) (258) 414
Less: Net (income) loss attributable to non- controlling interests 2 6 (19)
NET INCOME (LOSS) ATTRIBUTABLE TO HOST HOTELS & RESORTS, INC. (130.0) (252.0) 395.0
Dividends on preferred stock (4) (9) (9)
Issuance costs of redeemed preferred OP units (4)    
Earnings (loss) available to common stockholders (138) (261) 386
Basic earnings (loss) per common share:      
Continuing operations $ (0.20) $ (0.34) $ 0.68
Discontinued operations $ (0.01) $ (0.11) $ 0.06
Basic earnings (loss) per common share $ (0.21) $ (0.45) $ 0.74
Diluted earnings (loss) per common share:      
Continuing operations $ (0.20) $ (0.34) $ 0.66
Discontinued operations $ (0.01) $ (0.11) $ 0.06
Diluted earnings (loss) per common share $ (0.21) $ (0.45) $ 0.72
HOST HOTELS & RESORTS L.P.
     
REVENUES      
Rooms 2,661 2,484 3,098
Food and beverage 1,291 1,234 1,545
Other 277 310 346
Total revenues for owned hotels 4,229 4,028 4,989
Other revenues 199 107 119
Total revenues 4,428.0 4,135.0 5,108.0
EXPENSES      
Rooms 734 681 760
Food and beverage 965 933 1,130
Other departmental and support expenses 1,151 1,099 1,248
Management fees 171 158 241
Other property-level expenses 488 386 384
Depreciation and amortization 591 613 553
Corporate and other expenses 108 116 58
Gain on insurance settlement (3)   (7)
Total operating costs and expenses 4,205 3,986 4,367
OPERATING PROFIT 223 149 741
Interest income 8.0 7.0 20.0
Interest expense (384) (379) (375)
Net gains on property transactions and other 1 14 2
Gain (loss) on foreign currency transactions and derivatives (6) 5 1
Equity in losses of affiliates (1) (32) (10)
Income (loss) before income taxes (159) (236) 379
Benefit (provision) for income taxes 31 39 3
INCOME (LOSS) FROM CONTINUING OPERATIONS (128) (197) 382
Income (loss) from discontinued operations, net of tax (4) (61) 32
Net income (loss) (132) (258) 414
Less: Net (income) loss attributable to non- controlling interests   1 (3)
NET INCOME (LOSS) ATTRIBUTABLE TO HOST HOTELS & RESORTS, INC. (132.0) (257.0) 411.0
Issuance costs of redeemed preferred OP units (4) [3]    
Diluted earnings (loss) per common share:      
Distributions on preferred OP units (4) (9) (9)
Earnings (loss) available to common unitholders $ (140) $ (266) $ 402
Basic earnings (loss) per common unit:      
Continuing operations (0.21) (0.34) 0.68
Discontinued operations   (0.10) 0.06
Basic earnings (loss) per common unit (0.21) (0.44) 0.74
Diluted earnings (loss) per common unit:      
Continuing operations (0.21) (0.35) 0.66
Discontinued operations   (0.10) 0.06
Diluted earnings (loss) per common unit (0.21) (0.45) 0.72
[1] Interest expense and interest paid for 2010 includes cash prepayment premiums of approximately $20 million. No significant prepayment premiums were paid in 2009 or 2008.
[2] Interest expense and interest paid for 2009 is net of $7 million received in connection with the 2007 defeasance of $514 million in collateralized mortgage-backed securities.
[3] Represents the original issuance costs associated with the Class E preferred OP units, which were redeemed during 2010.