BETHESDA, Md., March 15 /PRNewswire-FirstCall/ -- Host Hotels & Resorts, Inc. (NYSE: HST) today announced that its Board of Directors authorized a regular quarterly cash dividend of $0.20 per share on the Company's common stock. The dividend is payable on April 16, 2007 to stockholders of record on March 31, 2007. As previously announced, the Company intends to pay this regular quarterly dividend of $0.20 per share going forward, and, in addition, to declare a special dividend during the fourth quarter, the amount of which is expected to vary depending on the Company's level of taxable income.

The Company also declared a cash dividend of $0.5546875 per share on its Class E cumulative redeemable preferred stock for the first quarter of 2007. The preferred dividend is payable on April 16, 2007 to stockholders of record on March 31, 2007.

About Host Hotels & Resorts

Host Hotels & Resorts, Inc. is the largest lodging real estate investment trust and one of the largest owners of luxury and upper upscale hotels. The Company currently owns 121 properties with approximately 64,500 rooms, and also holds a minority interest in a joint venture that owns seven hotels in Europe with approximately 2,700 rooms. Guided by a disciplined approach to capital allocation and aggressive asset management, 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.

* This press release contains registered trademarks that are the exclusive property of their respective owners. None of the owners of these trademarks has any responsibility or liability for any information contained in this press release.

SOURCE Host Hotels & Resorts, Inc.
CONTACT: Kevin J. Jacobs, Vice President Corporate Finance, +1-240-744-5212, or Gregory J. Larson, Treasurer, Senior Vice President Investor Relations, +1-240-744-5120, both of Host Hotels & Resorts, Inc.