Strong Resort Performance
Comparable RevPAR for resorts increased by 5.5%, with a combined comparable hotel EBITDA growth of 58% over the prior year period. Notable performances included the Four Seasons Resort Scottsdale with a 25% RevPAR growth and Ritz-Carlton Lake Tahoe with a 32% increase in total revenue.
Successful Asset Sales and Refinancing
Completed the sale of the Marriott Seattle Waterfront for $145 million and announced the planned sale of the Clancy for $115 million. Refinanced several loans including the Four Seasons Resort Scottsdale, addressing all 2025 debt maturities.
Increase in Group Room Revenue
Group room revenue pace for the full year 2025 is up 9.1% compared to the prior year. Notably, the Ritz-Carlton Lake Tahoe achieved an 80.2% increase in group room revenue.
Expansion of EBITDA and GOP Margins
Total comparable hotel EBITDA increased by 15.1% over the prior year quarter, and GOP margin expanded by 160 basis points.