Hotel Division Outperforms Competitive Set
Hotels and Resorts division achieved revenue growth of 1.7% in Q3 2025 compared to the prior year, despite a challenging comparison due to the prior year's Republican National Convention. RevPAR grew approximately 7.5% after adjusting for the RNC impact, outperforming the competitive set by 5.2 percentage points.
Strong Group Business and Renovation Impact
Hotels saw strong growth in group business and events, with banquet and catering revenues up 8.3% in Q3 2025. Newly renovated properties contributed to strong results, with Grand Geneva Resort & Spa and Pfister hotel showing impressive performance.
Increased Share Repurchase Authorization
Board approved a 4 million share increase in repurchase authorization, bringing the total to 4.7 million shares. The company has repurchased over 5% of outstanding shares since Q3 2024, returning nearly $26 million in capital to shareholders.