Urban Portfolio RevPAR Growth
Comparable RevPAR increased 2% over 2024, and total RevPAR increased 1.6%. The urban footprint was the primary driver, with a 5% increase, particularly driven by group and business transient segments.
Cost Management Success
Resort expenses were reduced by 24% compared to 2024, expanding hotel adjusted EBITDA margin by 76 basis points to 32.5%.
Strong Group Room Revenue
First-quarter group room revenues increased 10.4% over last year on a 5.2% increase in room nights. Urban Hotels saw a 14.4% increase in group revenues.
Improved Free Cash Flow
Free cash flow per share in the trailing four quarters increased 10% to 63¢ per share over the prior four-quarter period.
Share Repurchase Program
Repurchased 1.4 million shares of common stock at an average price of $7.85, with a $160 million capacity remaining for further repurchases.