15.

Supplemental Guarantor and Non-Guarantor Subsidiary Information for Host L.P.

A portion of our subsidiaries guarantee our senior notes. Among the subsidiaries not providing guarantees are those owning 40 of our full-service hotels, our taxable REIT subsidiaries and all of their respective subsidiaries, and HMH HPT CBM LLC, the lessee of Courtyard properties. The separate financial statements of each guaranteeing subsidiary (each, a “Guarantor Subsidiary”) are not presented because we have concluded that such financial statements are not material to investors. The guarantee of each Guarantor Subsidiary is full and unconditional and joint and several and each Guarantor Subsidiary is wholly owned by us.

The following unaudited condensed consolidating financial information sets forth the financial position as of June 17, 2011 and December 31, 2010, results of operations for the quarter and year-to-date periods ended June 17, 2011 and June 18, 2010 and cash flows for the year-to-date periods ended June 17, 2011 and June 18, 2010 of the parent, Guarantor Subsidiaries and the Non-Guarantor Subsidiaries:

Supplemental Condensed Consolidating Balance Sheets

(in millions)

June 17, 2011


	Parent			Guarantor Subsidiaries		Non- Guarantor Subsidiaries		Eliminations			Consolidated
Property and equipment, net	$	652		$	5,594	$	5,389	$	—		$	11,635
Assets held for sale		6			—		—		—			6
Due from managers		(18	)		—		92		(7	)		67
Investments in affiliates		6,966			1,494		23		(8,305	)		178
Rent receivable		—			36		—		(36	)		—
Deferred financing costs, net		40			—		5		—			45
Furniture, fixtures and equipment replacement fund		61			34		77		—			172
Other		532			138		274		(614	)		330
Restricted cash		25			1		9		—			35
Cash and cash equivalents		494			11		129		—			634

Total assets	$	8,758		$	7,308	$	5,998	$	(8,962	)	$	13,102

Debt	$	1,872		$	2,981	$	1,338	$	(303	)	$	5,888
Rent payable		—			—		36		(36	)		—
Other liabilities		99			195		411		(318	)		387

Total liabilities		1,971			3,176		1,785		(657	)		6,275
Limited partnership interests of third parties		174			—		—		—			174
Capital		6,613			4,132		4,173		(8,305	)		6,613

Total liabilities and capital		8,758			7,308		5,958		(8,962	)		13,062
Non-controlling interests — consolidated partnerships		—			—		40		—			40

Total liabilities, limited partnership interests of third parties and capital	$	8,758		$	7,308	$	5,998	$	(8,962	)	$	13,102

Supplemental Condensed Consolidating Balance Sheets

(in millions)

December 31, 2010


	Parent			Guarantor Subsidiaries		Non- Guarantor Subsidiaries		Eliminations			Consolidated
Property and equipment, net	$	675		$	5,227	$	4,612	$	—		$	10,514
Due from managers		(22	)		1		66		—			45
Investments in affiliates		6,566			1,547		22		(7,987	)		148
Rent receivable		—			29		—		(29	)		—
Deferred financing costs, net		38			—		6		—			44
Furniture, fixtures and equipment replacement fund		67			30		55		—			152
Other		319			124		325		(415	)		353
Restricted cash		29			1		11		—			41
Cash and cash equivalents		733			30		350		—			1,113

Total assets	$	8,405		$	6,989	$	5,447	$	(8,431	)	$	12,410

Debt	$	1,785		$	2,766	$	1,178	$	(252	)	$	5,477
Rent payable		—			—		29		(29	)		—
Other liabilities		127			166		281		(163	)		411

Total liabilities		1,912			2,932		1,488		(444	)		5,888
Limited partnership interests of third parties		191			—		—		—			191
Capital		6,302			4,057		3,930		(7,987	)		6,302

Total liabilities and capital		8,405			6,989		5,418		(8,431	)		12,381
Non-controlling interests – consolidated partnerships		—			—		29		—			29

Total liabilities, limited partnership interests of third parties and capital	$	8,405		$	6,989	$	5,447	$	(8,431	)	$	12,410

Supplemental Condensed Consolidating Statements of Operations

(in millions)

Quarter ended June 17, 2011


	Parent			Guarantor Subsidiaries			Non- Guarantor Subsidiaries			Eliminations			Consolidated
REVENUES	$	117		$	131		$	1,295		$	(247	)	$	1,296
Hotel operating expenses		—			—			(836	)		—			(836	)
Other property-level expenses		(5	)		(36	)		(96	)		—			(137	)
Depreciation and amortization		(13	)		(70	)		(66	)		—			(149	)
Corporate and other expenses		(2	)		(10	)		(10	)		—			(22	)
Rental expense		—			—			(247	)		247			—
Interest income		4			4			1			(4	)		5
Interest expense		(23	)		(50	)		(20	)		4			(89	)
Net gain on property transactions and other		1			—			1			—			2
Gain (loss) on foreign currency transactions and derivatives		(1	)		—			2			—			1
Equity in earnings (losses) of affiliates		(11	)		17			—			(2	)		4

Income (loss) before income taxes		67			(14	)		24			(2	)		75
Provision for income taxes		—			—			(8	)		—			(8	)

INCOME (LOSS) FROM CONTINUING OPERATIONS		67			(14	)		16			(2	)		67
Loss from discontinued operations, net of tax		(3	)		—			—			—			(3	)

NET INCOME (LOSS)		64			(14	)		16			(2	)		64
Less: Net income attributable to non-controlling interests		—			—			(1	)		—			(1	)

Net income (loss) attributable to Host Hotels & Resorts, L.P.	$	64		$	(14	)	$	15		$	(2	)	$	63

Supplemental Condensed Consolidating Statements of Operations

(in millions)

Quarter ended June 18, 2010


	Parent			Guarantor Subsidiaries			Non- Guarantor Subsidiaries			Eliminations			Consolidated
REVENUES	$	67		$	138		$	1,111		$	(204	)	$	1,112
Hotel operating expenses		—			—			(743	)		—			(743	)
Property-level expenses		(7	)		(37	)		(52	)		—			(96	)
Depreciation and amortization		(13	)		(70	)		(56	)		—			(139	)
Corporate and other expenses		(2	)		(12	)		(10	)		—			(24	)
Rental expense		—			—			(204	)		204			—
Interest income		2			—			3			(4	)		1
Interest expense		(25	)		(47	)		(14	)		4			(82	)
Loss on foreign currency transactions and derivatives		(1	)		—			(2	)		—			(3	)
Equity in earnings (losses) of affiliates		(1	)		21			—			(20	)		—

Income (loss) before income taxes		20			(7	)		33			(20	)		26
Provision for income taxes		—			—			(6	)		—			(6	)

INCOME (LOSS) FROM CONTINUING OPERATIONS		20			(7	)		27			(20	)		20
Income (loss) from discontinued operations, net of tax		—			—			(2	)		2			—

NET INCOME (LOSS)		20			(7	)		25			(18	)		20
Less: Net income attributable to non-controlling interests		—			—			(1	)		—			(1	)

Net income (loss) attributable to Host Hotels & Resorts, L.P.	$	20		$	(7	)	$	24		$	(18	)	$	19

Supplemental Condensed Consolidating Statements of Operations

(in millions)

Year-to-date ended June 17, 2011


	Parent			Guarantor Subsidiaries			Non- Guarantor Subsidiaries			Eliminations			Consolidated
REVENUES	$	187		$	240		$	2,196		$	(425	)	$	2,198
Hotel operating expenses		—			—			(1,457	)		—			(1,457	)
Other property-level expenses		(10	)		(66	)		(178	)		—			(254	)
Depreciation and amortization		(25	)		(142	)		(123	)		—			(290	)
Corporate and other expenses		(3	)		(22	)		(22	)		—			(47	)
Rental expense		—			—			(425	)		425			—
Interest income		5			8			4			(8	)		9
Interest expense		(45	)		(96	)		(38	)		8			(171	)
Net gain (loss) on property transactions and other		74			—			(71	)		—			3
Gain on foreign currency transactions and derivatives		—			—			2			—			2
Equity in earnings (losses) of affiliates		(175	)		17			2			158			2

Income (loss) before income taxes		8			(61	)		(110	)		158			(5	)
Benefit for income taxes		—			—			13			—			13

INCOME (LOSS) FROM CONTINUING OPERATIONS		8			(61	)		(97	)		158			8
Loss from discontinued operations, net of tax		(4	)		—			—			—			(4	)

NET INCOME (LOSS)		4			(61	)		(97	)		158			4
Less: Net income attributable to non-controlling interests		—			—			(2	)		—			(2	)

Net income (loss) attributable to Host Hotels & Resorts, L.P.	$	4		$	(61	)	$	(99	)	$	158		$	2

Supplemental Condensed Consolidating Statements of Operations

(in millions)

Year-to-date ended June 18, 2010


	Parent			Guarantor Subsidiaries			Non- Guarantor Subsidiaries			Eliminations			Consolidated
REVENUES	$	124		$	251		$	1,932		$	(373	)	$	1,934
Hotel operating expenses		—			—			(1,320	)		—			(1,320	)
Property-level expenses		(12	)		(68	)		(101	)		—			(181	)
Depreciation and amortization		(26	)		(139	)		(110	)		—			(275	)
Corporate and other expenses		(4	)		(25	)		(20	)		—			(49	)
Rental expense		—			—			(373	)		373			—
Interest income		3			1			5			(7	)		2
Interest expense		(51	)		(104	)		(31	)		7			(179	)
Loss on foreign currency and derivatives		(3	)		—			(2	)		—			(5	)
Equity in earnings (losses) of affiliates		(93	)		21			—			67			(5	)

Loss before income taxes		(62	)		(63	)		(20	)		67			(78	)
Benefit for income taxes		—			—			16			—			16

LOSS FROM CONTINUING OPERATIONS		(62	)		(63	)		(4	)		67			(62	)
Loss from discontinued operations, net of tax		(2	)		—			(3	)		3			(2	)

NET LOSS		(64	)		(63	)		(7	)		70			(64	)
Less: Net income attributable to non-controlling interests		—			—			(2	)		—			(2	)

Net loss attributable to Host Hotels & Resorts, L.P.	$	(64	)	$	(63	)	$	(9	)	$	70		$	(66	)

Supplemental Condensed Consolidating Statements of Cash Flows

(in millions)

Year-to-date ended June 17, 2011


	Parent			Guarantor Subsidiaries			Non- Guarantor Subsidiaries			Consolidated
OPERATING ACTIVITIES
Cash provided by operations	$	155		$	53		$	48		$	256


INVESTING ACTIVITIES
Acquisitions		—			(283	)		(752	)		(1,035	)
Investment in affiliates		(18	)		—			—			(18	)
Capital expenditures		(14	)		(115	)		(111	)		(240	)
Change in furniture, fixtures and equipment (FF&E) replacement fund		9			(5	)		(3	)		1
Property insurance proceeds		—			—			2			2

Cash used in investing activities		(23	)		(403	)		(864	)		(1,290	)


FINANCING ACTIVITIES
Financing costs		(8	)		—			—			(8	)
Issuances of debt		496			—			80			576
Draw on credit facility		50			103			—			153
Repayment on credit facility		(50	)		—			—			(50	)
Repurchase of senior notes		(250	)		—			—			(250	)
Mortgage debt prepayments and scheduled maturities		—			(132	)		—			(132	)
Scheduled principal repayments		—			—			(2	)		(2	)
Common OP unit issuance		288			—			—			288
Distributions on common OP units		(21	)		—			—			(21	)
Distributions to non-controlling interests		—			—			(4	)		(4	)
Change in restricted cash for financing activities		—			—			5			5
Transfers to/from Parent		(876	)		360			516			—

Cash provided by (used in) financing activities		(371	)		331			595			555

DECREASE IN CASH AND CASH EQUIVALENTS	$	(239	)	$	(19	)	$	(221	)	$	(479	)

Supplemental Condensed Consolidating Statements of Cash Flows

(in millions)

Year-to-date ended June 18, 2010


	Parent			Guarantor Subsidiaries			Non- Guarantor Subsidiaries			Consolidated
OPERATING ACTIVITIES
Cash provided by operations	$	74		$	61		$	84		$	219


INVESTING ACTIVITIES
Proceeds from sales of assets, net		3			—			9			12
Purchase of mortgage note on a portfolio of hotels		(53	)		—			—			(53	)
Capital expenditures		(6	)		(53	)		(41	)		(100	)
Change in furniture, fixtures and equipment (FF&E) replacement fund		(1	)		(6	)		(15	)		(22	)
Change in FF&E replacement funds designated as restricted cash		—			—			5			5

Cash used in investing activities		(57	)		(59	)		(42	)		(158	)


FINANCING ACTIVITIES
Repurchase/redemption of senior notes, including exchangeable debentures		(346	)		—			—			(346	)
Mortgage debt prepayments and scheduled maturities		—			—			(124	)		(124	)
Scheduled principal repayments		—			(1	)		(4	)		(5	)
Common OP unit issuance		55			—			—			55
Redemption of preferred OP units		(101	)		—			—			(101	)
Distributions on common OP units		(7	)		—			—			(7	)
Distributions on preferred OP units		(6	)		—			—			(6	)
Distributions to non-controlling interests		—			—			(3	)		(3	)
Change in restricted cash other than FF&E replacement fund		1			(1	)		5			5
Transfers to/from Parent		(82	)		(8	)		90			—

Cash used in financing activities		(486	)		(10	)		(36	)		(532	)

INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS	$	(469	)	$	(8	)	$	6		$	(471	)