Hello, and welcome to the annual meeting of stockholders of Host Hotels & Resorts. Please note that today's meeting is being recorded. Stockholders who have registered for today's meeting may submit a question or comment at any time by clicking on the message icon. Please note that your registered name will be announced with your question. Out of consideration for others, please limit yourself to one question or comment. Guests are in listen-only mode and will not be able to submit questions. It is now my pleasure to turn today's meeting over to Richard Marriott, Chairman of the Board of Host Hotels & Resorts. Mr. Marriott, the floor is yours. Good day, everyone. Welcome to the 2026 annual meeting of stockholders. I'm Dick Marriott, and I will be presiding over this meeting. We are hosting today's meeting through a virtual online platform. The annual meeting of Host Hotels & Resorts is hereby called to order. We will begin the meeting by reviewing the meeting proposals to be voted on. We will then move to the business update from our President and CEO, Jim Risoleo, followed by a question- and- answer period. Our General Counsel and Corporate Secretary, Julie Aslaksen, who is participating in today's meeting, has reported to me that the notice of the annual meeting was first mailed on April 8, 2026 to our stockholders of record as of March 20, 2026. Julie will confirm when the polls have closed, report on the preliminary voting results, and adjourn the meeting. Computershare, our inspector of elections, has reported that a majority of the shares are present at the meeting, either in person or by proxy. Accordingly, a quorum is present, and we may transact the business before us. I'd like to remind everyone that some of the remarks made today are considered to be forward-looking statements under federal securities laws. As described in our filings with the SEC, these statements are subject to numerous risks and uncertainties, which could cause future results to differ from those expressed. We will also discuss the non-GAAP financial information such as adjusted EBITDA, which we believe is useful to investors. You can find a description of this information, including reconciliations to the GAAP financial measures in our latest earnings press release, which has been posted on our website. We have three proposals to present to you this morning. All proposals are outlined and discussed in the proxy statement. The polls are now open for each matter to be voted upon. Proposal 1 is the election of the nine director nominees named in the proxy statement. Proposal 2 is to ratify the recommendations by the Audit Committee to appoint KPMG LLP as independent auditors of the company for 2026. KPMG is represented here today by Tom Gerth and Caitlin Henry. Proposal Number 3 is an advisory vote on executive compensation. Your board recommends a vote for each of the proposals. If you previously voted by proxy, you do not need to vote today unless you wish to change your vote. If you have not voted your shares and you are a stockholder who registered for this meeting, you may vote online now. I'd like to now turn the floor over to Jim Risoleo, our President and CEO, to provide a business update. Thank you, Dick. Welcome to the Host Hotels & Resorts annual meeting. I'd like to thank everyone for joining us today and for your continued support of Host Hotels & Resorts. On the cover, you will see a photo of The Don CeSar in St. Pete Beach, Florida. We were thrilled to welcome guests back to the resort in early 2025 after a six-month remediation effort following hurricanes Helene and Milton. Our team leveraged strong industry relationships and lessons learned from prior hurricanes to enhance amenities, rebuild infrastructure, and increase resilience, including elevating critical equipment and systems. The Don CeSar holds a cherished place in the hearts of hotel employees and the St. Pete Beach community. In fact, many of the associates returned after six months, a testament to their resilience, loyalty, and commitment to this historic property. Moving to the next slide. Today, I will give a brief overview of Host and highlight some of our 2025 accomplishments, including our operational improvements, our successful capital allocation execution, and our fortress balance sheet. I will then discuss progress on our portfolio reinvestments and our corporate responsibility initiatives before wrapping up with the Host investment thesis. Next slide, please. Starting with a brief overview of the company. Host Hotels & Resorts owns the largest portfolio of luxury and upper upscale hotels in the public markets. We have a geographically diverse portfolio of iconic and irreplaceable assets located in prime locations and markets in the United States. And a strong analytics platform to support our capital allocation strategy. As of February 18th, 2026, our portfolio comprised 76 hotels totaling 41,700 rooms. In addition, we are the only investment-grade lodging REIT and the only lodging REIT in the S&P 500. Next slide, please. Over the course of 2025, we delivered operational improvements driven by strong transient demand, a continued recovery in Maui, and healthy out-of-room spending. During the year, we completed approximately $237 million of asset sales, made progress on our Transformational Capital Program with Hyatt, and commenced a second program with Marriott. We also returned significant capital to our stockholders in the form of dividends and share repurchases while maintaining our investment-grade balance sheet and positioning Host to take advantage of potential opportunities in the future. Highlighting a few stats here. First, we delivered comparable hotel total RevPAR, which stands for total revenue per available room and includes ancillary spending of 4.2% over 2024. This increase was largely driven by improvements in transient demand, continued rate strength, and increases in ancillary spending. In addition to our operational improvements, we continued to successfully allocate capital through reinvestments in our portfolio. In 2025, we invested $644 million in capital expenditures, resiliency initiatives, and hurricane restoration. We ended the year with $2.4 billion of total available liquidity, including $1.5 billion of availability under our credit facility, and returned $860 million of value to our stockholders in the form of dividends declared and share repurchases. Next slide, please. Turning to our portfolio performance, a continued recovery in Maui, increases in room rates, and strong transient demand offset the anticipated decrease in group demand while total RevPAR grew at a faster pace than RevPAR for most of the year, driven by out-of-room spending. As expected, margin declined in 2025, primarily as a result of business interruption proceeds that were received from Maui wildfires in 2024. Next slide, please. As part of our successful capital allocation efforts, we significantly reinvested in our portfolio through capital expenditures. In 2025, we invested $644 million in capital expenditures, resiliency initiatives, and hurricane restoration. We completed renovations to approximately 2,190 guest rooms, 433,000 sq ft of meeting space, and approximately 109,000 sq ft of public space. In addition, we completed renovations at three of the six assets under the Hyatt Transformational Capital Program and commenced a second transformational capital program with Marriott International at four properties. We also completed several major ROI projects over the course of 2025, including the oceanfront ballroom expansion at The Don CeSar, villa development at The Phoenician Canyon Suites, the new AVIV Restaurant at the 1 Hotel South Beach, and the meeting space expansion and reopening of The View Restaurant at the New York Marriott Marquis. We are also nearing completion of the condo development at the Four Seasons Orlando, which we retained following the sale of the adjacent hotel in early 2026. We believe these reinvestments will continue to position our portfolio to outperform in the future. Next slide, please. Over the course of 2025, we maintained our investment-grade balance sheet in a consolidated portfolio that is 99% unencumbered by debt, which provides us with substantial flexibility and optionality. We also issued $900 million of senior notes through two separate underwritten public offerings and repaid $900 million of maturing senior notes, maintaining a well-laddered maturity schedule. Additionally, the company's credit rating was upgraded by Moody's to Baa2 with a stable outlook. Next slide, please. We continued to be recognized as a global leader in corporate responsibility in 2025. We were named to the Dow Jones Best-in-Class World Index, which recognizes global sustainability leaders across all industries, for the seventh consecutive year, and we were included in the DJSI North America for the ninth consecutive year. We were also once again included in the world's most sustainable companies in S&P's Global Sustainability Yearbook. Next slide, please. As a reminder, our corporate responsibility program is focused on responsible investment across our business, sustainability, our people, and our community. As part of our climate risk and resiliency program, we completed the purchase and pre-installation of modular flood barriers that exceed FEMA 100-year flood elevation for six high-risk properties. We are also working to formalize the connection between our climate risk program and our property insurance premiums to validate proactive resilience investment opportunities, quantify the impact and return on investment, and scale efforts across our portfolio where we see elevated climate risk. Our efforts on the corporate responsibility front are overseen by the board's nominating governance and corporate responsibility committee, which also continues to provide valuable insights to bolster our program. Next slide. Wrapping up, we are extremely proud of the results we achieved in 2025. While there continues to be heightened uncertainty in the macroeconomic environment, we believe our disciplined capital allocation efforts over the past few years, combined with the expected growth profile of our portfolio, our diversification across geographic markets and business mix, our investment-grade balance sheet, and our size, scale, and reputation leave us very well-positioned to outperform in 2026 and beyond. Thank you for your continued support of Host. That concludes our annual meeting presentation. Thank you, Jim. We will now move to questions and the closing of the polls. Are there any questions regarding the proposals or any general questions or comments? We have not received any questions, so that concludes our question and answer period, and the polls are now closed. I have the preliminary results of the votes on the proposals contained in the proxy statement. I am pleased to report that all directors were elected and the proposals on KPMG's appointment and executive compensation were approved. Final voting results will be filed with the SEC on a Form 8-K and will be available on our website. Thank you for participating in our annual meeting today. This concludes the meeting. You may now disconnect.