Declining Free Cash FlowAn 11.11% decline in free cash flow signals reduced internal funding for capex, renovations, or shareholder returns. Although operating cash conversion remains near parity with net income, falling FCF can constrain strategic investments and liquidity buffers, raising medium-term financing and operational risk.
Variable Revenue Growth RatesMeaningful swings in year-over-year revenue growth suggest sensitivity to demand cycles or one-off drivers. This variability complicates forecasting and capital planning, making earnings and cash flow less predictable and potentially affecting investment timing and margin stability over the coming quarters.
Exposure To Travel-lodging CyclicalityAs a hospitality operator, the company is structurally exposed to macroeconomic trends, seasonality, and event-driven demand. Even with strong margins and a healthy balance sheet, a downturn in travel or corporate events can quickly reduce occupancy and F&B revenue, pressuring profitability over a multi-month horizon.