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

Same yardstick, side by side (as of October 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 35 premium hotels and resorts with about 9,479 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 and buybacks while pursuing renovations, selective asset sales and occasional acquisitions. In October 2026 it bought The Bellmoor Inn & Spa, a 79-room luxury resort in Rehoboth Beach, Delaware, for $31.0 million in cash.

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. At about $13.61 DRH trades near 19 times trailing earnings and about 12.7 times EV to EBITDA, after a 49% rise in 2026 that has erased much of the discount to lodging-REIT peers it carried a year ago. The second quarter (revenue of about $318 million and EPS ahead of estimates) supports the move, but analysts' forward earnings are slightly lower than trailing, so the multiple now leans on steady RevPAR, cost control and accretive capital recycling.

HST. At $24.59, Host trades near ~11.4x the midpoint of its ~$2.15 to ~$2.18 adjusted FFO guide and about 12x trailing EBITDA, up from roughly 10.5x FFO in August after a ~12.6% gain in the past month. Trailing net income of ~$1.03 billion and the ~16.6x reported P/E are inflated by sale gains, which is also why the forward P/E on consensus EPS looks higher than the trailing one. FFO and EBITDA multiples describe the operating business more honestly.

Headline figures (approximate, October 2026): DRH shows revenue (ttm) ~$1.14B, q2 2026 revenue ~$318M; EPS $0.28 vs $0.22 estimate, net income (ttm) ~$149M, market cap ~$2.8B; HST shows revenue (ttm) ~$6.23B, up ~3.6% year over year in Q2, adjusted ffo per share (2026 guidance) ~$2.15 to ~$2.18 (~11.4x at $24.59), adjusted ebitdare (2026 guidance) ~$1.82B to ~$1.84B, net income (ttm) ~$1.03B, incl. ~$242M of hotel sale gains; P/E ~16.6x.

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.