Comparable RevPAR Growth
RevPAR grew 2.6% year-over-year within the lodging portfolio, outpacing the industry by 40 basis points despite revenue displacement from renovation activity.
Select Service Portfolio Performance
The select service portfolio produced exceptional growth with RevPAR up 10.6% year-over-year, driven by a 15% occupancy rise and 2.7% improvement in ADR at recently renovated Hyatt Place hotels.
Successful Hotel Disposition Strategy
SVC plans to sell 125 hotels in 2025 for approximately $1.1 billion, applying an 18x multiple on hotel EBITDA of $60 million over the trailing 12 months.
Net Lease Portfolio Resilience
The net lease assets were nearly 98% leased with a weighted average lease term of eight years and provided stable cash flows with annual minimum rents of $381 million.
Net Lease Property Acquisitions
Acquired or entered agreements to acquire nine net lease properties for $33 million, with a weighted average lease term of 16 years and average cash cap rates of 7.3%.