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.