Urban Hotels RevPAR Growth
Urban hotels led the portfolio with a RevPAR growth of more than 9%, driven by corporate group and business travel demand.
Marriott Long Beach Downtown Performance
Marriott Long Beach Downtown had a RevPAR increase of nearly 70%, benefiting from recent investment and brand conversion.
San Francisco Market Improvement
San Francisco saw a RevPAR growth of 6.5% and total RevPAR growth of over 16%, driven by a better citywide calendar and increased commercial activity.
Renaissance Orlando at SeaWorld Success
The Renaissance Orlando at SeaWorld had a strong quarter with group contribution and solid production, with year-to-date production up 16% in room nights and over 30% in revenue.
Wine Country Resorts Performance
Montage Healdsburg and Four Seasons Napa Valley exceeded revenue and earnings expectations, with Montage growing occupancy by over 1,200 basis points and RevPAR by 18%.
Andaz Miami Beach Opening and Customer Feedback
Andaz Miami Beach opened in May, receiving overwhelmingly positive reviews, and its Tripadvisor ranking improved significantly.
Capital Recycling and Share Repurchases
The company sold the Hilton New Orleans St. Charles at a favorable cap rate and repurchased $100 million of shares, bringing total repurchases since 2022 to nearly $300 million.