05:32 PM EDT, 05/01/2024 (MT Newswires) -- Host Hotels & Resorts ( HST ) reported Q1 adjusted funds from operations Wednesday of $0.60, up from $0.55 a year earlier.

Analysts polled by Capital IQ expected adjusted FFO of $0.43 per share.

Revenue in the quarter ended March 31 rose to $1.47 billion from $1.38 billion a year earlier.

Analysts surveyed by Capital IQ expected $1.42 billion.

The company boosted 2024 adjusted FFO guidance to $1.97 to $2.05 per diluted share from $1.92 to $2.04. Analysts forecast adjusted FFO of $1.55.

The company boosted 2024 revenue guidance to $5.65 billion to $5.75 billion from $5.59 billion to $5.74 billion. Analysts polled by Capital IQ expect $5.59 billion.

Separately, the company said it acquired 1 Hotel Nashville and Embassy Suites by Hilton Nashville Downtown for $530 million in cash.

1 Hotel Nashville has 215 rooms, and Embassy Suites has 506 rooms, according to Host Hotels. The seller wasn't disclosed.

Bloomberg reported Monday a group of owners including a Starwood Capital Group affiliate, Crescent Real Estate and High Street Real Estate Partners were making the sale, according to people familiar with the matter.