Host Hotels & Resorts to Build New Headquarters in Bethesda
Company plans to move in by late 2019, retain 187 employees
BALTIMORE, MD — Host Hotels & Resorts, Inc. (NYSE: HST), one of the largest owners of luxury and upscale hotels, is relocating its corporate headquarters in Bethesda. Currently located at 6903 Rockledge Drive, the company has executed a lease for approximately 55,000 square feet within an office tower to be developed at 4747 Bethesda Avenue. Construction is well underway and the company anticipates moving in by late 2019. Host Hotels & Resorts currently employs 187 full-time workers in Montgomery County.
“While we considered other areas, we ultimately decided that Maryland and specifically downtown Bethesda offers us the most convenient transit access, amenity-rich location and high quality, efficient office space,” said James F. Risoleo, president and chief executive officer at Host Hotels & Resorts. “We look forward to creating a space where we can foster an energetic and entrepreneurial culture.”
Host Hotels & Resorts is an S&P 500 and Fortune 500 company and is the largest lodging real estate investment trust in the nation. The Bethesda-based company maintains one of the most geographically diversified portfolios of iconic hotels, owning 88 properties throughout the country and six international properties, totaling more than 50,000 rooms. The company was recently recognized for its corporate responsibility commitment and was given the Lodging/Resorts Leader in the Light Award by the National Association of Real Estate Investment Trusts; “Green Star” designation and the top position for hotels and U.S. Listed companies by the Global Real Estate Sustainability Benchmark; and was named to the Dow Jones Sustainability Index North America.
“Host Hotels & Resorts is a globally-recognized company with a long history in our state, and we are proud that they are continuing to call Maryland home,” said Governor Larry Hogan. “Today’s announcement underscores our administration’s commitment to ensuring Maryland remains open for business and providing forward-thinking companies with the support they need to continue to grow.”
“We are very proud that Host Hotels & Resorts has chosen to renew its commitment to our community, and remain one of the county’s four Fortune 500 companies,” said Montgomery County Executive Ike Leggett. “The company and its 187 employees contribute to our economy every day, and we truly value their investment in our future.”
To assist with project costs, the Maryland Department of Commerce has approved a $600,000 conditional loan through the Maryland Economic Development Assistance Authority and Fund. Additionally, Montgomery County is providing a $300,000 conditional grant through its Economic Development Fund.
“Host Hotels & Resorts has been an outstanding corporate citizen throughout its long history here in Maryland, and we are pleased to support their new headquarters in Bethesda,” said Maryland Commerce Secretary Mike Gill. “This project reflects a great partnership with our partners in Montgomery County – a collaboration that ensures our state will continue to benefit from Host’s presence and investment for decades to come.”
To learn more about Host Hotels & Resorts, please visit www.hosthotels.com.
About Maryland Commerce
The Maryland Department of Commerce stimulates private investment and creates jobs by attracting new businesses, encouraging the expansion and retention of existing companies, and providing financial assistance to Maryland companies. The Department promotes the State’s many economic advantages and markets local products and services at home and abroad to spur economic development and international investment, trade and tourism. Because they are major economic generators, the Department also supports the Arts, film production, sports and other special events. For more information, visit commerce.maryland.gov.