trending Market Intelligence /marketintelligence/en/news-insights/trending/4hxx4pxlyoaq2ylw-cuoqq2 content esgSubNav
In This List

Host Hotels shareholders reject annual sustainability report issuance proposal


Japan M&A By the Numbers: Q4 2023

Case Study

An Investment Bank Taps S&P's Real Estate Modeling Expertise


FIMA EUROPE 2023: Exploring the Intersection of Data, Governance, and Future Trends in Finance


Private Markets 360° | Episode 8: Powering the Global Private Markets (with Adam Kansler of S&P Global Market Intelligence)

Host Hotels shareholders reject annual sustainability report issuance proposal

Host Hotels & Resorts Inc. shareholders rejected a stockholder proposal requesting that the lodging real estate investment trust issue an annual sustainability report, as previously recommended by the company's board.

The proposal was presented by UNITE HERE, which asked the company to issue an annual sustainability report with due diligence about operations at its properties. UNITE recommended that Host ask its hotel operators to use the Global Reporting Initiative's sustainability reporting standards in drafting the report.

In a supporting statement, UNITE said that after the Starwood merger, 78% of Host's properties were managed or franchised by Marriott International Inc. UNITE added that Marriott's sustainability reporting, which stopped using the GRI sustainability framework after 2014, offers much less detail to investors than Starwood's pre-merger reporting, which used the framework.

Of all the votes cast at the company's May 17 annual stockholder meeting, 203,136,521 were in favor of the proposal, 450,271,398 were against it and 2,992,630 were abstentions.