DRH vs HST: Which Is the Better Buy in 2026?

Same yardstick, side by side (as of September 2026). Valuation lined up like this is most meaningful for two names in the same corner of the market, which these are. Figures are approximate; verify before investing.

The metrics above tell you which is the marginally better business. The bigger risk for most people is not picking the slightly worse stock, it is over-concentrating. DRH and HST share themes, so owning both, or adding either to what you already hold, can quietly push a large share of your portfolio into one bet.

This is the part a generic comparison page cannot answer, because it depends on what you own. Connect your brokerage and Walnut shows your real, combined DRH and HST exposure, flags overlap with your existing positions, and tells you if adding one would tip you past a concentration you are comfortable with, read-only by default, with your login staying at your broker. Walnut is not an investment adviser.

DiamondRock Hospitality Company is a self-advised real estate investment trust that owns a geographically diversified portfolio of roughly 34 premium hotels and resorts with about 9,400 rooms, concentrated in leisure destinations and top gateway markets. The portfolio mixes properties run under major global brand families (Marriott, Hilton and others) with independent boutique and lifestyle hotels, and the company positions itself as a disciplined allocator of capital across the lodging cycle, returning cash through dividends while pursuing renovations and selective asset sales.

Full DRH guide

Host Hotels & Resorts owns 75 hotels, 70 in the United States and five abroad, covering roughly ~41,300 rooms in the luxury and upper upscale tiers. The properties fly flags such as Marriott, Ritz-Carlton, Hyatt, Hilton and Four Seasons, and third party managers run day to day operations while Host supplies the buildings, the capital and the renovation decisions. Because these are big convention and resort hotels, rooms are only part of the income: second quarter comparable total RevPAR of ~$417.58 against room RevPAR of ~$251.53 means food, beverage, banquets and other services generate close to ~40% of revenue. Trailing twelve month revenue is ~$6.23 billion, and the structure is a REIT, so most taxable income has to go out as distributions.

Full HST guide

Both fit overlapping themes, but they are not interchangeable. The useful comparison is which set of drivers and risks you want exposure to.

• DRH drivers: Leisure and group travel demand; Renovations and out-of-room revenue.
• HST drivers: Rate led RevPAR growth in luxury and resort hotels; Group pace and returning business travel.

A faster-growing, richer-valued name usually swings harder, so it suits a longer horizon and a higher tolerance for volatility; a steadier, more cash-generative business suits a more conservative or income-minded investor. The honest test is which set of risks you could hold through a drawdown: Hotel REITs are highly cyclical, so a slowdown in leisure travel, corporate demand, or the broader economy would pressure RevPAR, occupancy and cash flow. For HST, lodging reprices every single night, which makes it the most economically sensitive form of real estate, and a downturn reaches Host's income statement in weeks instead of at lease renewal.

Growth-minded investors who believe the theme has years to run tend to accept the richer multiple for more upside; value-minded investors lean toward the cheaper forward earnings and steadier profile. Pick DRH if you believe its drivers more; HST if you believe its. Many investors hold both, but since they share themes, that is a concentrated bet, not diversification. Decide deliberately and check overlap. For the full detail, see the DRH and HST guides.

DRH. DRH generated about $258 million of revenue in the first quarter of 2026, up roughly 1.3% year over year, with adjusted FFO per share of about $0.22. The stock has traded around $12 with a market cap near $2.4 billion and a P/AFFO multiple of roughly 9x, a discount to many lodging-REIT peers. Analysts generally view it as fairly to cheaply valued, reflecting the cyclical, capital-intensive nature of hotel ownership.

HST. Host guides to ~$2.15 to ~$2.18 of adjusted FFO per share for 2026 and ~$1.82 billion to ~$1.84 billion of adjusted EBITDAre, which places a ~$22.90 share price near ~10.5x FFO. Trailing net income of ~$1.03 billion and the resulting ~15x reported P/E are inflated by roughly ~$242 million of gains on hotel sales, so FFO and EBITDA multiples describe the operating business more honestly. Enterprise value of about ~$19.6 billion works out near ~11.6x trailing EBITDA and closer to ~10.7x the guided number.

Headline figures (approximate, JULY 2026): DRH shows revenue (ttm) ~$1.1B, market cap ~$2.4B, 2026 adjusted ebitda guidance ~$287M-$302M, 2026 adjusted ffo per share guidance ~$1.09-$1.16; HST shows revenue (ttm) ~$6.23B, adjusted ffo per share (2026 guidance) ~$2.15 to ~$2.18, adjusted ebitdare (2026 guidance) ~$1.82B to ~$1.84B, enterprise value / ebitda ~11.6x trailing, ~10.7x on guidance.

DRH and HST are related but distinct: same themes, different businesses and risks. Neither wins in the abstract; the right pick is whichever thesis you actually believe, sized so you are not over-concentrated in one theme. Walnut can show your combined DRH and HST exposure against your real portfolio. It is not an investment adviser.