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Non-controlling Interests
 3 Months Ended
Mar. 31, 2024
Noncontrolling Interest [Abstract]  
Non-controlling Interests Non-controlling Interests
Host Inc.’s treatment of the non-controlling interests of Host L.P.: Host Inc. adjusts the amount of the non-controlling interests of Host L.P. each period so that the amount presented equals the greater of its carrying amount based on accumulated historical cost or its redemption value. The historical cost is based on the proportional relationship between the historical cost of equity held by our common stockholders relative to that of the common unitholders of Host L.P. The redemption value is based on the amount of cash or Host Inc. common stock, at our option, that would be paid to the non-controlling interests of Host L.P. if it were terminated. We have estimated that the redemption value of the common OP units is equivalent to the number of common shares issuable upon conversion of the common OP units held by third parties valued at the market price of Host Inc. common stock at the balance sheet date. One common OP unit may be exchanged for 1.021494 shares of Host Inc. common stock. Redeemable non-controlling interests of Host L.P. are classified in the mezzanine section of our
balance sheets as they do not meet the requirements for equity classification because the redemption feature requires the delivery of registered shares.
The table below details the historical cost and redemption values for the non-controlling interests of Host L.P.:
 March 31, 2024December 31, 2023
Common OP units outstanding (millions) 9.5 9.5 
Market price per Host Inc. common share $20.68 $19.47 
Shares issuable upon conversion of one common OP unit 1.0214941.021494
Redemption value (millions) $200 $189 
Historical cost (millions) 94 93 
Book value (millions) ⁽¹⁾200 189 
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(1)The book value recorded is equal to the greater of redemption value or historical cost.
Other Consolidated Partnerships. Non-redeemable non-controlling interests - other consolidated partnerships on the balance sheets consists of the third party partnership interest of one majority-owned partnership.