Host Hotels & Resorts president and CEO Ed Walter is stepping down and will be replaced by James Risoleo, current executive vice president and managing director of investments for the West Coast and Europe. Risoleo, a 20-year veteran of the Bethesda, Md.-based real estate investment trust, will assume his new position on Jan. 1. He also will take Walter's place on Host's board of directors. The company is the largest lodging REIT by market cap and owns 89 properties in the United States and seven internationally, totaling about 54,000 rooms, largely in the upper-upscale and luxury segments.