The biggest publicly traded lodging REIT has sold a pair of resorts for $1.1B.

Host Hotels & Resorts sold the 444-room Four Seasons Resort Orlando at Walt Disney World Resort in Orlando, Florida, and the 125-room Four Seasons Resort and Residences Jackson Hole in Teton Village, Wyoming.

It purchased the hotels in 2021 and 2022, respectively, for a combined $925M, and no significant capital expenditures were required over its ownership period, the hotelier announced in a release on Thursday.

The sale doesn’t include the condo development at the Four Seasons Resort Orlando.

Host didn’t name a buyer for the hotels, but CoStar previously reported that an affiliate of BDT & MSD Partners was the Four Seasons Orlando buyer, paying $750M. CoStar also lists BDT & MSD Partners as the buyer of the Jackson Hole resort.

In January, Host closed on the disposition of the 232-room St. Regis Houston for $51M.

The hotel industry had a challenging 2025, but the so-called K-shaped economic recovery that has taken hold of the nation has helped boost some hotels at the top as the wealthiest consumers spend more, including on hotel stays.

The REIT's fourth-quarter earnings anticipated 2026 adjusted funds from operations above Wall Street estimates on Wednesday, boosted by strong luxury hotel bookings. The REIT expects annual adjusted FFO per share of $2.03 to $2.11 for 2026, whereas analysts' estimates were $1.97, according to MarketScreener

As of Thursday afternoon, Host's stock was down about two-thirds of a percentage point, but it is up 17.8% year-over-year.