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DIAMONDROCK HOSPITALITY COMPANY REPORTS FOURTH QUARTER AND FULL YEAR 2024 RESULTS

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DiamondRock Hospitality Company (NYSE: DRH) reported its Q4 and full year 2024 results, with Q4 showing a net loss of $13.7 million. The company experienced positive operational metrics with Q4 comparable revenues increasing 5.7% to $280.5 million and RevPAR growing 5.4% to $200.46.

Key 2024 highlights include net income of $38.2 million, comparable revenues of $1.1 billion (+4.3% YoY), and Adjusted FFO per share of $1.01 (+8.6%). The company completed several strategic moves, including acquiring AC Hotel Minneapolis Downtown for $30 million and selling Westin Washington D.C. City Center for $92 million.

Notable developments include the completion of Hotel Champlain Burlington rebranding, repayment of a $73.3 million mortgage loan, and share repurchases of 3.1 million shares at $8.33 per share. The company declared a Q1 2025 dividend of $0.08 per share and maintains $584.3 million in liquidity.

DiamondRock Hospitality Company (NYSE: DRH) ha riportato i risultati del quarto trimestre e dell'intero anno 2024, con il quarto trimestre che mostra una perdita netta di 13,7 milioni di dollari. L'azienda ha registrato metriche operative positive, con i ricavi comparabili del quarto trimestre che sono aumentati del 5,7% a 280,5 milioni di dollari e il RevPAR che Γ¨ cresciuto del 5,4% a 200,46 dollari.

Tra i punti salienti del 2024 ci sono un utile netto di 38,2 milioni di dollari, ricavi comparabili di 1,1 miliardi di dollari (+4,3% rispetto all'anno precedente) e un FFO rettificato per azione di 1,01 dollari (+8,6%). L'azienda ha completato diverse mosse strategiche, tra cui l'acquisizione dell'AC Hotel Minneapolis Downtown per 30 milioni di dollari e la vendita del Westin Washington D.C. City Center per 92 milioni di dollari.

Sviluppi notevoli includono il completamento del rebranding dell'Hotel Champlain Burlington, il rimborso di un mutuo di 73,3 milioni di dollari e il riacquisto di 3,1 milioni di azioni a 8,33 dollari per azione. L'azienda ha dichiarato un dividendo per il primo trimestre del 2025 di 0,08 dollari per azione e mantiene una liquiditΓ  di 584,3 milioni di dollari.

DiamondRock Hospitality Company (NYSE: DRH) reportΓ³ sus resultados del cuarto trimestre y del aΓ±o completo 2024, con el cuarto trimestre mostrando una pΓ©rdida neta de 13,7 millones de dΓ³lares. La compaΓ±Γ­a experimentΓ³ mΓ©tricas operativas positivas, con ingresos comparables del cuarto trimestre aumentando un 5,7% a 280,5 millones de dΓ³lares y RevPAR creciendo un 5,4% a 200,46 dΓ³lares.

Los aspectos destacados de 2024 incluyen un ingreso neto de 38,2 millones de dΓ³lares, ingresos comparables de 1,1 mil millones de dΓ³lares (+4,3% interanual) y un FFO ajustado por acciΓ³n de 1,01 dΓ³lares (+8,6%). La compaΓ±Γ­a completΓ³ varias acciones estratΓ©gicas, incluyendo la adquisiciΓ³n del AC Hotel Minneapolis Downtown por 30 millones de dΓ³lares y la venta del Westin Washington D.C. City Center por 92 millones de dΓ³lares.

Desarrollos notables incluyen la finalizaciΓ³n del rebranding del Hotel Champlain Burlington, el reembolso de un prΓ©stamo hipotecario de 73,3 millones de dΓ³lares y la recompra de 3,1 millones de acciones a 8,33 dΓ³lares por acciΓ³n. La compaΓ±Γ­a declarΓ³ un dividendo para el primer trimestre de 2025 de 0,08 dΓ³lares por acciΓ³n y mantiene 584,3 millones de dΓ³lares en liquidez.

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DiamondRock Hospitality Company (NYSE: DRH) a publié ses résultats du quatrième trimestre et de l'année entière 2024, avec un quatrième trimestre affichant une perte nette de 13,7 millions de dollars. L'entreprise a connu des indicateurs opérationnels positifs, les revenus comparables du quatrième trimestre ayant augmenté de 5,7 % pour atteindre 280,5 millions de dollars et le RevPAR ayant crû de 5,4 % pour atteindre 200,46 dollars.

Les faits marquants de 2024 incluent un bΓ©nΓ©fice net de 38,2 millions de dollars, des revenus comparables de 1,1 milliard de dollars (+4,3 % par rapport Γ  l'annΓ©e prΓ©cΓ©dente) et un FFO ajustΓ© par action de 1,01 dollar (+8,6 %). L'entreprise a rΓ©alisΓ© plusieurs mouvements stratΓ©giques, notamment l'acquisition de l'AC Hotel Minneapolis Downtown pour 30 millions de dollars et la vente du Westin Washington D.C. City Center pour 92 millions de dollars.

Les dΓ©veloppements notables incluent l'achΓ¨vement du rebranding de l'HΓ΄tel Champlain Burlington, le remboursement d'un prΓͺt hypothΓ©caire de 73,3 millions de dollars et le rachat de 3,1 millions d'actions Γ  8,33 dollars par action. L'entreprise a dΓ©clarΓ© un dividende de 0,08 dollar par action pour le premier trimestre 2025 et maintient une liquiditΓ© de 584,3 millions de dollars.

DiamondRock Hospitality Company (NYSE: DRH) hat die Ergebnisse fΓΌr das vierte Quartal und das Gesamtjahr 2024 verΓΆffentlicht, wobei das vierte Quartal einen Nettoverlust von 13,7 Millionen Dollar aufwies. Das Unternehmen verzeichnete positive Betriebskennzahlen, wobei die vergleichbaren Einnahmen im vierten Quartal um 5,7 % auf 280,5 Millionen Dollar stiegen und der RevPAR um 5,4 % auf 200,46 Dollar wuchs.

Wichtige Highlights 2024 umfassen ein Nettoeinkommen von 38,2 Millionen Dollar, vergleichbare Einnahmen von 1,1 Milliarden Dollar (+4,3 % im Jahresvergleich) und einen bereinigten FFO pro Aktie von 1,01 Dollar (+8,6 %). Das Unternehmen hat mehrere strategische Maßnahmen abgeschlossen, darunter die Übernahme des AC Hotel Minneapolis Downtown für 30 Millionen Dollar und den Verkauf des Westin Washington D.C. City Center für 92 Millionen Dollar.

Bemerkenswerte Entwicklungen umfassen den Abschluss der Umbenennung des Hotel Champlain Burlington, die RΓΌckzahlung eines Hypothekendarlehens in HΓΆhe von 73,3 Millionen Dollar und den RΓΌckkauf von 3,1 Millionen Aktien zu einem Preis von 8,33 Dollar pro Aktie. Das Unternehmen erklΓ€rte eine Dividende von 0,08 Dollar pro Aktie fΓΌr das erste Quartal 2025 und hΓ€lt eine LiquiditΓ€t von 584,3 Millionen Dollar.

Positive
  • Q4 comparable revenues up 5.7% to $280.5 million
  • Q4 Adjusted EBITDA increased 19.9% to $68.7 million
  • Full year Adjusted FFO per share up 8.6% to $1.01
  • Group revenues increased over 8% in Q4
  • Business transient revenues up over 5% in Q4
Negative
  • Q4 net loss of $13.7 million vs $8.5 million profit in Q4 2023
  • $32.6 million impairment loss on Westin Washington D.C.
  • $20.4 million severance costs from executive transition
  • Continued softness in leisure customer demand
  • Three mortgage loans maturing in 2025 need refinancing

Insights

DiamondRock Hospitality's Q4 results demonstrate a bifurcated recovery pattern within their 36-property portfolio, with urban assets outperforming and resort properties facing headwinds. The 5.7% revenue growth and impressive 253 basis point margin expansion to 27.08% highlight effective operational execution despite industry challenges.

The strategic disposition of the Westin Washington D.C. at an 11.2x EBITDA multiple (or 11.9x excluding one-time benefits) represents disciplined capital recycling, selling a mature asset at a premium to typical lodging REIT trading multiples. This aligns with management's stated strategy to divest lower-growth properties and redeploy capital into higher-ROI opportunities, as evidenced by the AC Hotel Minneapolis acquisition.

The company's segment performance reveals important trends - the 8% growth in group business and 5% increase in business transient revenue signal continued recovery in urban markets, while management acknowledged ongoing softness in leisure demand affecting resort properties. This divergence explains their strategic focus on driving incremental group demand at resort properties to offset leisure weakness.

The significant dividend increase from $0.03 to $0.08 quarterly (167% increase) signals management confidence in sustainable cash flow generation, creating an attractive yield profile compared to lodging REIT peers.

Balance sheet management deserves attention with $1.1 billion in total debt and three mortgage loans maturing in 2025. While management indicates they're pursuing refinancing options, the $584.3 million liquidity position provides flexibility if capital markets prove challenging.

The $81.6 million capital expenditure program in 2024 and planned $85-95 million for 2025 demonstrates continued investment in asset quality, with the Orchards Inn Sedona repositioning as "Cliffs at L'Auberge" representing a particularly strategic move to integrate with their luxury L'Auberge de Sedona property.

DiamondRock's portfolio repositioning strategy is reaching an inflection point, as evidenced by the Westin Washington D.C. disposition at an 11.2x EBITDA multiple. This transaction represents a 15-20% premium to where most lodging REITs currently trade, demonstrating management's ability to harvest mature assets at advantageous valuations. The sale aligns with their stated strategy of recycling capital from low-growth assets into higher-yielding opportunities.

The company's performance exhibits a clear bifurcation between urban and resort assets that mirrors broader industry trends. Urban properties are benefiting from the business travel recovery (group revenue +8%, business transient +5%), while resort properties face normalization after the post-pandemic leisure surge. This divergence explains their tactical pivot to drive more group business into resort properties to offset leisure softness - a strategy that differentiates them from peers with higher resort exposure.

The dramatic dividend increase from $0.03 to $0.08 quarterly (167% increase) significantly enhances DiamondRock's investor proposition, pushing their yield profile more in line with blue-chip lodging REITs while maintaining a conservative payout ratio relative to their $1.01 AFFO per share. This signals management confidence in sustainable cash flow generation despite market volatility.

Their value-creation renovation strategy warrants attention, particularly the Orchards Inn repositioning as "Cliffs at L'Auberge." This project strategically integrates the property with their luxury L'Auberge de Sedona asset through physical connections (new pool) and brand alignment, effectively creating a larger, more cohesive luxury compound that should command premium rates in a high-barrier-to-entry market.

The $20.4 million in executive transition costs reflects the leadership change to new CEO Jeffrey Donnelly, whose capital markets background suggests potential acceleration of portfolio recycling and balance sheet optimization. His emphasis on "higher return on investment opportunities to drive sustained earnings per share growth" indicates a sharper focus on per-share metrics rather than absolute portfolio growth.

Full Year Results Exceed Guidance

Completes Sale of the Westin Washington D.C. City Center

Announces $0.08 First Quarter 2025 Dividend

BETHESDA, Md., Feb. 27, 2025 /PRNewswire/ -- DiamondRock Hospitality Company (the "Company") (NYSE: DRH), a lodging real estate investment trust that owns a portfolio of 36 premium hotels and resorts in the United States, today announced results of operations for the quarter and year ended December 31, 2024.

Fourth Quarter 2024 Highlights

  • Net Loss: Net loss attributable to common stockholders was $13.7 million, or ($0.07) per diluted share compared to net income attributable to common stockholders of $8.5 million in the fourth quarter of 2023. The net loss attributable to common stockholders includes a $32.6 million impairment loss recorded on the Westin Washington D.C. City City Center.
  • Comparable Revenues: $280.5 million, an increase of 5.7% compared to the fourth quarter of 2023.
  • Comparable RevPAR: $200.46, an increase of 5.4% compared to the fourth quarter of 2023.
  • Comparable Hotel Adjusted EBITDA: $75.9 million, an increase of 16.4% compared to the fourth quarter of 2023.
  • Comparable Hotel Adjusted EBITDA Margin: 27.08%, an increase of 253 basis points compared to the fourth quarter of 2023.
  • Adjusted EBITDA: $68.7 million, an increase of 19.9% compared to the fourth quarter of 2023.
  • Adjusted FFO per Share: $0.24, an increase of 33.3% compared to the fourth quarter of 2023.
  • Hotel Acquisition: Acquired the AC Hotel Minneapolis Downtown for $30.0 million on November 12, 2024.

Full Year 2024 Highlights

  • Net Income: Net income attributable to common stockholders was $38.2 million, or $0.18 per diluted share as compared to $76.5 million in 2023. Net income attributable to common stockholders includes a $32.6 million impairment loss recorded on the Westin Washington D.C. City Center and $20.4 million of severance costs related to the executive transition in 2024.
  • Comparable Revenues: $1.1 billion, an increase of 4.3% compared to 2023.
  • Comparable RevPAR: $205.15, an increase of 2.6% compared to 2023.
  • Comparable Hotel Adjusted EBITDA: $321.4 million, an increase of 5.3% compared to 2023.
  • Comparable Hotel Adjusted EBITDA Margin: 28.21%, an increase of 27 basis points compared to 2023.
  • Adjusted EBITDA: $290.4 million, an increase of 6.9% compared to 2023.
  • Adjusted FFO per Share: $1.01, an increase of 8.6% to 2023.
  • Brand Conversion: The Company completed the repositioning and rebranding of the Hilton Burlington Lake Champlain as the Hotel Champlain Burlington, Curio Collection by Hilton in July 2024.
  • Debt Financing: The Company repaid its $73.3 million mortgage loan secured by the Courtyard New York Manhattan/Midtown East and extended the maturity date of its $300 million unsecured term loan by one year to January 2026.
  • Share Repurchases: The Company repurchased 3.1 million shares of its common stock at a weighted average price of $8.33 per share for a total consideration of approximately $26.0 million during 2024.

Recent Development

  • Hotel Disposition: The Company completed the sale of the Westin Washington D.C. City Center for a contract price of $92.0 million on February 19, 2025.

"Fourth quarter operating results exceeded our expectations, with group revenues increasing over 8% compared to last year and business transient revenues increasing over 5% to last year. This strong revenue growth coupled with cost savings initiatives led to fourth quarter results exceeding our guidance range.

We expect continued growth from our urban hotels in 2025 and the completed rebrandings of Hotel Champlain and The Dagny, as well as the renovations at Bourbon Orleans and Westin San Diego, are expected to drive additional growth. Our resort hotels are focused on driving incremental group demand and increasing operating efficiencies in the face of continued softness from the leisure customer. In total, we expect to see steadily improving growth as we move throughout the year.

The sale of the Westin Washington D.C. marks an important step in our strategy to harvest capital from low free cash flow growth assets and redeploy proceeds into higher return on investment opportunities to drive sustained earnings per share growth for our shareholders."

- Jeffrey J. Donnelly, Chief Executive Officer of DiamondRock Hospitality Company

Operating Results

Please see "Non-GAAP Financial Measures" attached to this press release for an explanation of the terms "EBITDAre," "Adjusted EBITDA," "Hotel Adjusted EBITDA," "Hotel Adjusted EBITDA Margin," "FFO" and "Adjusted FFO" and a reconciliation of these measures to net income. Comparable operating results include all hotels owned as of December 31, 2024 for all periods presented. See "Reconciliation of Comparable Operating Results" attached to this press release for a reconciliation to historical amounts.


Three Months Ended December 31,


Year Ended December 31,


2024


2023

Change


2024

2023

Change


($ amounts in millions, except hotel statistics and per share amounts)

Comparable Operating Results (1)









ADR

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύ 290.02


$ΜύΜύΜύΜύΜύΜύΜύΜύΜύ 280.55

3.4Μύ%


$ΜύΜύΜύΜύΜύΜύΜύΜύΜύ 282.70

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύ 279.08

1.3Μύ%

Occupancy

69.1Μύ%


67.8Μύ%

1.3Μύ%


72.6Μύ%

71.6Μύ%

1.0Μύ%

RevPAR

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύ 200.46


$ΜύΜύΜύΜύΜύΜύΜύΜύΜύ 190.18

5.4Μύ%


$ΜύΜύΜύΜύΜύΜύΜύΜύΜύ 205.15

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύ 199.89

2.6Μύ%

Total RevPAR

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύ 304.86


$ΜύΜύΜύΜύΜύΜύΜύΜύΜύ 288.88

5.5Μύ%


$ΜύΜύΜύΜύΜύΜύΜύΜύΜύ 311.24

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύ 299.96

3.8Μύ%

Room Revenues

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 184.4


$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 174.7

5.6Μύ%


$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 750.8

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 728.0

3.1Μύ%

Total Revenues

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 280.5


$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 265.4

5.7Μύ%


$ΜύΜύΜύΜύΜύΜύΜύΜύ 1,139.1

$ΜύΜύΜύΜύΜύΜύΜύΜύ 1,092.5

4.3Μύ%

Hotel Adjusted EBITDA

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 75.9


$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 65.2

16.4Μύ%


$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 321.4

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 305.2

5.3Μύ%

Hotel Adjusted EBITDA Margin

27.08Μύ%


24.55Μύ%

253 bps


28.21Μύ%

27.94Μύ%

27 bps

Available Rooms

920,000


918,800

1,200


3,660,001

3,641,984

18,017










Actual Operating Results (2)









Total Revenues

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 279.1


$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 263.5

5.9Μύ%


$ΜύΜύΜύΜύΜύΜύΜύΜύ 1,129.9

$ΜύΜύΜύΜύΜύΜύΜύΜύ 1,074.9

5.1Μύ%

Net (loss) / income attributable to common stockholders

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ (13.7)


$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 8.5

(261.2)Μύ%


$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 38.2

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 76.5

(50.1)Μύ%

(Loss) / Earnings per diluted share

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ (0.07)


$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 0.04

(275.0)Μύ%


$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 0.18

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 0.36

(50.0)Μύ%

Adjusted EBITDA

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 68.7


$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 57.3

19.9Μύ%


$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 290.4

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 271.7

6.9Μύ%

Adjusted FFO

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 49.4


$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 38.6

28.0Μύ%


$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 213.7

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 198.5

7.7Μύ%

Adjusted FFO per diluted share

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 0.24


$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 0.18

33.3Μύ%


$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 1.01

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 0.93

8.6Μύ%



(1)

Amounts represent the pre-acquisition operating results for AC Hotel Minneapolis Downtown from January 1, 2023 to November 11, 2024 and Chico Hot Springs Resort from January 1, 2023 to July 31, 2023. The pre-acquisition operating results were obtained from the seller of the hotel during the acquisition due diligence process. We have made no adjustments to the amounts provided to us by the seller. The pre-acquisition operating results were not audited or reviewed by the Company's independent auditors.



(2)

Actual operating results include the operating results of all hotels for the Company's respective ownership periods.

Hotel Disposition

On February 19, 2025, the Company completed the sale of the 410-room Westin Washington D.C. City Center for a contract price of $92.0 million.Μύ The sales price represents an 11.2x multiple on 2024 Hotel EBITDA and a 7.5% capitalization rate on 2024 hotel net operating income, or a capitalization rate of 5.6% inclusive of the Company's projected capital expenditures. Excluding a one-time property tax credit and temporary discount on franchise fees the Hotel received in 2024, the sales price represents an 11.9x multiple on 2024 Hotel EBITDA and a 7.0% capitalization rate on 2024 Hotel net operating income, or a capitalization rate of 5.2% inclusive of the Company's projected capital expenditures.

Capital Expenditures

The Company invested approximately $81.6 million in capital improvements at its hotels during the year ended December 31, 2024. Significant projects in 2024 included the following:

  • Hotel Champlain Burlington: The Company completed the rebranding and repositioning of the Hilton Burlington Lake Champlain to Hotel Champlain Burlington, a Curio Collection by Hilton in July 2024. The transformation of the 258-room hotel represents a strong return-on-investment opportunity and included the creation of new lifestyle community spaces, a new all-day cafe, an upgraded state-of-the-art fitness center, and a new signature seafood restaurant, Original Skiff Fish & Oysters, in partnership with a local award-winning chef.
  • Westin San Diego Bayview: The Company completed a comprehensive renovation of the hotel's guestrooms during the second quarter of 2024.
  • Bourbon Orleans Hotel: The Company completed a comprehensive renovation of the hotel's guestrooms during the third quarter of 2024.

The Company expects to invest approximately $85 to $95 million in capital improvements at its hotels in 2025. Significant projects in 2025 include the following:

  • Orchards Inn Sedona: The Company commenced the repositioning of Orchards Inn as the Cliffs at L'Auberge on November 1, 2024. The repositioning will integrate the hotel with the adjacent L'Auberge de Sedona and includes construction of a new pool connecting the two properties, renovation of the guestrooms and creation of a new arrival experience and new outdoor event space. The Company expects to complete the project in the third quarter of 2025.
  • Hilton Garden Inn New York / Times Square Central: The Company expects to complete a renovation of the hotel's guestrooms during the first quarter of 2025.
  • Kimpton Hotel Palomar Phoenix: The Company expects to commence a renovation of the hotel's guestrooms during the second quarter of 2025.
  • Courtyard New York Manhattan/Midtown East: The Company expects to commence a renovation of the hotel's guestrooms during the fourth quarter of 2025.

Balance Sheet and Liquidity

As of December 31, 2024, the Company had total debt outstanding of $1.1 billion, consisting of $800.0 million of unsecured term loans and $295.8 million of three property-specific mortgage loans, with a weighted average interest rate of 5.21%.Μύ During the third quarter of 2024, the Company repaid the $73.3 million mortgage loan secured by the Courtyard New York Manhattan/Midtown East with cash on hand and exercised its right to extend the maturity date of its $300.0 million unsecured term loan for one year to January 3, 2026.Μύ The Company is actively pursuing a financing transaction, the proceeds of which will be used to repay its three outstanding mortgage loans that each mature during 2025. In the event that the Company is unsuccessful in obtaining this new financing, it may use a combination of cash on hand and its senior unsecured revolving credit facility to address the maturities.

The Company ended the year with $584.3 million of liquidity, comprised of $81.4 million of unrestricted corporate cash, $102.9 million of unrestricted cash at its hotels and full availability of its revolving credit facility.

Share Repurchase Program

During the year ended December 31, 2024, the Company repurchased 3.1 million shares of its common stock at an average price of $8.33 per share for a total purchase price of $26.0 million. The Company currently has $174.0 million of remaining capacity under its $200.0 million share repurchase program.

Dividends

The Company paid a fourth quarter cash dividend of $0.23 per common share, which included a regular quarterly dividend of $0.03 per common share, along with a stub dividend of $0.20 per common share, on January 14, 2025 to shareholders of record as of December 31, 2024.Μύ Additionally, the Company paid a quarterly dividend of $0.515625 per share on its 8.250% Series A Cumulative Redeemable Preferred Stock on December 31, 2024 to shareholders of record as of December 20, 2024.

On February 25, 2025, the Company's Board of Directors declared a regular quarterly cash dividend of $0.08 per share on its common stock.Μύ The dividend will be paid on April 11, 2025 to shareholders of record as of March 28, 2025. The Company's Board of Directors also declared a quarterly dividend of $0.515625 per share on its 8.250% Series A Cumulative Redeemable Preferred Stock. The dividend is payable on March 28, 2025 to shareholders of record as of March 20, 2025.

Guidance

The Company is providing annual guidance for 2025. The outlook is based on the current economic and operating environment for its current portfolio of hotels and does not take into account any unanticipated impacts to it the business or operations.Μύ Achievement of the anticipated results is subject to the risks disclosed in the Company's filings with the U.S. Securities and Exchange Commission, which may cause actual results to differ materially from the anticipated results expressed or implied below.

Metric

Low End

High End



Comparable RevPAR Growth

1.0Μύ%

3.0Μύ%


Adjusted EBITDA

$275 million

$300 million


Adjusted FFO

$199 million

$224 million


Adjusted FFO per share

$0.94 per share

$1.06 per share


Μύ

Effective January 1, 2025, the Company will exclude share-based compensation from its calculations of Adjusted EBITDA and Adjusted FFO in order to provide comparability with its peers. This change has been incorporated in the above guidance ranges for Adjusted EBITDA and Adjusted FFO. Share-based compensation was $7.4 million for full year 2024.

Full year 2025 guidance is based in part on the following assumptions:

  • Full year corporate expenses, excluding share-based compensation, of approximately $24 million to $25 million;
  • Full year cash interest expense of approximately $64 million to $65 million;
  • Full year income tax expense of approximately $1 million to $2 million;
  • Fully diluted weighted average common shares and units of 211 million; and
  • 3,502,540 full year available rooms.

Earnings Call

The Company will host a conference call to discuss its fourth quarter and full year results on Friday, February 28, 2025, at 10:00 a.m. Eastern Time. The conference call will be accessible by telephone and through the internet. Interested individuals are requested to register for the call using thisΜύΜύto obtain dial-in and webcast details. Registration details are also available by visiting . A replay of the conference call webcast will be archived and available online.Μύ

About the Company

DiamondRock Hospitality Company is a self-advised real estate investment trust (REIT) that is an owner of a leading portfolio of geographically diversified hotels concentrated in leisure destinations and top gateway markets. The Company currently owns 36 premium quality hotels with approximately 9,600 rooms. The Company has strategically positioned its portfolio to be operated both under leading global brand families as well as independent boutique hotels in the lifestyle segment. For further information on the Company and its portfolio, please visit DiamondRock Hospitality Company's website at .

This press release contains forward-looking statements within the meaning of federal securities laws and regulations. These forward-looking statements are identified by their use of terms and phrases such as "believe," "expect," "intend," "project," "forecast," "plan" and other similar terms and phrases, including references to assumptions and forecasts of future results. Forward-looking statements are not guarantees of future performance and involve known and unknown risks, uncertainties and other factors which may cause the actual results to differ materially from those anticipated at the time the forward-looking statements are made. These risks include, but are not limited to: the adverse impact of any future pandemic, epidemic or outbreak of any highly infectious disease on the U.S., regional and global economies, travel, the hospitality industry, and the financial condition and results of operations of the Company and its hotels; national and local economic and business conditions, including the potential for additional terrorist attacks, that will affect occupancy rates at the Company's hotels and the demand for hotel products and services; operating risks associated with the hotel business; relationships with property managers; the ability to compete effectively in areas such as access, location, quality of accommodations and room rate structures; changes in travel patterns, taxes and government regulations which influence or determine wages, prices, construction procedures and costs; and other risk factors contained in the Company's filings with the Securities and Exchange Commission. Although the Company believes the expectations reflected in such forward-looking statements are based upon reasonable assumptions, it can give no assurance that the expectations will be attained or that any deviation will not be material. All information in this release is as of the date of this release, and the Company undertakes no obligation to update any forward-looking statement to conform the statement to actual results or changes in the Company's expectations.

DIAMONDROCK HOSPITALITY COMPANYΜύ

Μύ

CONSOLIDATED BALANCE SHEETS

(in thousands, except share and per share amounts)



December 31, 2024


December 31, 2023

ASSETS

(unaudited)



Property and equipment, net

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 2,631,221


$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 2,755,195

Assets held for sale

93,400


�

Right-of-use assets

89,931


97,692

Restricted cash

47,408


45,576

Due from hotel managers

145,947


144,689

Prepaid and other assets

82,963


73,940

Cash and cash equivalents

81,381


121,595

Total assets

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 3,172,251


$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 3,238,687





LIABILITIES AND EQUITY




Liabilities:




Debt, net of unamortized debt issuance costs

1,095,294


1,177,005

Lease liabilities

85,235


112,866

Due to hotel managers

121,734


116,522

Liabilities of assets held for sale

3,352


�

Deferred rent

73,535


69,209

Unfavorable contract liabilities, net

58,208


59,866

Accounts payable and accrued expenses

79,201


39,563

Distributions declared and unpaid

49,034


6,324

Deferred income related to key money, net

7,726


8,349

Total liabilities

1,573,319


1,589,704

Equity:




Preferred stock, $0.01 par value; 10,000,000 shares authorized;




ΜύΜύΜύ 8.250% Series A Cumulative Redeemable Preferred Stock (liquidation
 βΆΔ‚p°ω±π΄Ϊ±π°ω±π²Τ³¦±π $25.00 per share), 4,760,000 shares issued and outstanding at
  December 31, 2024 and 2023

48


48

ΜύΜύ Common stock, $0.01 par value; 400,000,000 shares authorized; 207,592,210
  and 209,627,197 shares issued and outstanding at December 31, 2024 and
  December 31, 2023, respectively

2,076


2,096

Additional paid-in capital

2,268,521


2,291,297

Accumulated other comprehensive loss

(1,360)


(2,036)

Distributions in excess of earnings

(679,050)


(649,330)

Total stockholders' equity

1,590,235


1,642,075

Noncontrolling interests

8,697


6,908

Total equity

1,598,932


1,648,983

Total liabilities and equity

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 3,172,251


$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 3,238,687

ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ

DIAMONDROCK HOSPITALITY COMPANY


CONSOLIDATED STATEMENTS OF OPERATIONS

(in thousands, except share and per share amounts)

(unaudited)



Three Months Ended December 31,


Year Ended December 31,


2024


2023


2024


2023

Revenues:








Rooms

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 183,161


$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 173,122


$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 742,626


$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 717,447

Food and beverage

69,403


66,888


281,682


259,757

Other

26,487


23,537


105,575


97,663

Total revenues

279,051


263,547


1,129,883


1,074,867

Operating Expenses:








Rooms

46,659


45,673


186,131


176,765

Food and beverage

48,056


46,060


193,331


180,546

Other departmental and support expenses

68,789


68,171


268,563


261,536

Management fees

6,738


5,802


27,149


24,998

Franchise fees

10,014


9,345


39,724


35,738

Other property-level expenses

24,789


25,422


103,347


102,177

Depreciation and amortization

29,046


28,307


113,588


111,302

Impairment losses

32,573


�


34,169


941

Corporate expenses

7,828


8,371


52,911


32,048

Business interruption insurance income

�


�


�


(647)

Total operating expenses, net

274,492


237,151


1,018,913


925,404









Interest expense

16,082


16,360


65,516


65,072

Interest (income) and other (income) expense, net

(1,072)


(844)


(4,337)


(2,561)

Μύ Total other expenses, net

15,010


15,516


61,179


62,511

(Loss) / Income before income taxes

(10,451)


10,880


49,791


86,952

Income tax (expense) / benefit

(845)


103


(1,541)


(317)

Net (loss) / income

(11,296)


10,983


48,250


86,635

Less:Μύ Net loss / (income) attributable to
noncontrolling interests

53


(36)


(203)


(295)

Net (loss) / income attributable to the Company

(11,243)


10,947


48,047


86,340

Distributions to preferred stockholders

(2,454)


(2,454)


(9,817)


(9,817)

Net (loss) / income attributable to
common stockholders

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ (13,697)


$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 8,493


$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 38,230


$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 76,523

(Loss) / Earnings per share:








(Loss) / Earnings per share available to
common stockholders - basic

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ (0.07)


$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 0.04


$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 0.18


$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 0.36

(Loss) / Earnings per share available to
common stockholders - diluted

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ (0.07)


$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 0.04


$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 0.18


$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 0.36









Weighted-average number of common
shares outstanding:








Basic

208,965,671


211,498,736


210,286,342


211,518,826

Diluted

208,965,671


212,578,308


211,240,170


212,304,117

Μύ

Non-GAAP Financial Measures

We use the following non-GAAP financial measures that we believe are useful to investors as key measures of our operating performance: EBITDA, EBITDAre, Adjusted EBITDA, Hotel Adjusted EBITDA, FFO and Adjusted FFO. These measures should not be considered in isolation or as a substitute for measures of performance in accordance with U.S. GAAP. EBITDA, EBITDAre, Adjusted EBITDA, Hotel Adjusted EBITDA, FFO and Adjusted FFO, as calculated by us, may not be comparable to other companies that do not define such terms exactly as the Company.

Use and Limitations of Non-GAAP Financial Measures

Our management and Board of Directors use EBITDA, EBITDAre, Adjusted EBITDA, Hotel Adjusted EBITDA, FFO and Adjusted FFO to evaluate the performance of our hotels and to facilitate comparisons between us and other lodging REITs, hotel owners who are not REITs and other capital intensive companies. The use of these non-GAAP financial measures has certain limitations. These non-GAAP financial measures as presented by us, may not be comparable to non-GAAP financial measures as calculated by other real estate companies. These measures do not reflect certain expenses or expenditures that we incurred and will incur, such as depreciation, interest and capital expenditures. We compensate for these limitations by separately considering the impact of these excluded items to the extent they are material to operating decisions or assessments of our operating performance. Our reconciliations to the most comparable U.S. GAAP financial measures, and our consolidated statements of operations and comprehensive income and consolidated statements of cash flows, include interest expense, capital expenditures, and other excluded items, all of which should be considered when evaluating our performance, as well as the usefulness of our non-GAAP financial measures.

These non-GAAP financial measures are used in addition to and in conjunction with results presented in accordance with U.S. GAAP. They should not be considered as alternatives to operating profit, cash flow from operations, or any other operating performance measure prescribed by U.S. GAAP. These non-GAAP financial measures reflect additional ways of viewing our operations that we believe, when viewed with our U.S. GAAP results and the reconciliations to the corresponding U.S. GAAP financial measures, provide a more complete understanding of factors and trends affecting our business than could be obtained absent this disclosure. We strongly encourage investors to review our financial information in its entirety and not to rely on a single financial measure.

EBITDA and EBITDAre

EBITDA represents net income (calculated in accordance with U.S. GAAP) excluding: (1)Μύinterest expense; (2)Μύprovision for income taxes, including income taxes applicable to sale of assets; and (3)Μύdepreciation and amortization. The Company computes EBITDAre in accordance with the National Association of AGΥζΘΛΉΩ·½ Estate Investment Trusts ("Nareit") guidelines, as defined in its September 2017 white paper "Earnings Before Interest, Taxes, Depreciation and Amortization for AGΥζΘΛΉΩ·½ Estate." EBITDAre represents net income (calculated in accordance with U.S. GAAP) adjusted for: (1)Μύinterest expense; (2)Μύprovision for income taxes, including income taxes applicable to sale of assets; (3)Μύdepreciation and amortization; (4)Μύgains or losses on the disposition of depreciated property including gains or losses on change of control; (5) impairment write-downs of depreciated property and of investments in unconsolidated affiliates caused by a decrease in value of depreciated property in the affiliate; and (6) adjustments to reflect the entity's share of EBITDAre of unconsolidated affiliates.

We believe EBITDA and EBITDAre are useful to an investor in evaluating our operating performance because they help investors evaluate and compare the results of our operations from period to period by removing the impact of our capital structure (primarily interest expense) and our asset base (primarily depreciation and amortization, and in the case of EBITDAre, impairment and gains or losses on dispositions of depreciated property) from our operating results. In addition, covenants included in our debt agreements use EBITDA as a measure of financial compliance. We also use EBITDA and EBITDAre as measures in determining the value of hotel acquisitions and dispositions.

FFO

The Company computes FFO in accordance with standards established by Nareit, which defines FFO as net income (calculated in accordance with U.S. GAAP) excluding gains or losses from sales of properties and impairment losses, plus real estate related depreciation and amortization. The Company believes that the presentation of FFO provides useful information to investors regarding its operating performance because it is a measure of the Company's operations without regard to specified non-cash items, such as real estate related depreciation and amortization and gains or losses on the sale of assets. The Company also uses FFO as one measure in assessing its operating results.

Adjustments to EBITDAre and FFO

We adjust EBITDAre and FFO when evaluating our performance because we believe that the exclusion of certain additional items described below provides useful supplemental information to investors regarding our ongoing operating performance and that the presentation of Adjusted EBITDA and Adjusted FFO when combined with U.S. GAAP net income, EBITDAre and FFO, is beneficial to an investor's complete understanding of our consolidated and property-level operating performance.Μύ We adjust EBITDAre and FFO for the following items:

  • Non-Cash Lease Expense and Other Amortization: We exclude the non-cash expense incurred from the straight line recognition of expense from our ground leases and other contractual obligations and the non-cash amortization of our favorable and unfavorable contracts, originally recorded in conjunction with certain hotel acquisitions. We exclude these non-cash items because they do not reflect the actual cash amounts due to the respective lessors in the current period and they are of lesser significance in evaluating our actual performance for that period.
  • Cumulative Effect of a Change in Accounting Principle: The Financial Accounting Standards Board promulgates new accounting standards that require or permit the consolidated statement of operations and comprehensive income to reflect the cumulative effect of a change in accounting principle. We exclude the effect of these adjustments, which include the accounting impact from prior periods, because they do not reflect the Company's actual underlying performance for the current period.
  • Gains or Losses from Early Extinguishment of Debt: We exclude the effect of gains or losses recorded on the early extinguishment of debt because these gains or losses result from transaction activity related to the Company's capital structure that we believe are not indicative of the ongoing operating performance of the Company or our hotels.
  • Hotel Acquisition Costs: We exclude hotel acquisition costs expensed during the period because we believe these transaction costs are not reflective of the ongoing performance of the Company or our hotels.
  • Severance Costs: We exclude corporate severance costs, or reversals thereof, incurred with the termination of corporate-level employees and severance costs incurred at our hotels related to lease terminations or structured severance programs because we believe these costs do not reflect the ongoing performance of the Company or our hotels.
  • Hotel Manager Transition and Hotel Pre-Opening Costs: We exclude the transition costs associated with a change in hotel manager and the pre-opening costs associated with the redevelopment or rebranding of a hotel because we believe these items do not reflect the ongoing performance of the Company or our hotels.
  • Share-Based Compensation Expense: Effective January 1, 2025, we will exclude share-based compensation expense as it is a non-cash item. This adjustment aligns with the calculation of Adjusted EBITDA for our financial covenant ratios under our credit facility, ensuring consistency in our financial reporting and covenant compliance.
  • Other Items: From time to time we incur costs or realize gains that we consider outside the ordinary course of business and that we do not believe reflect the ongoing performance of the Company or our hotels. Such items may include, but are not limited to the following: lease preparation costs incurred to prepare vacant space for marketing; management or franchise contract termination fees; gains or losses from legal settlements; costs incurred related to natural disasters; and gains on property insurance claim settlements, other than income related to business interruption insurance.

In addition, to derive Adjusted FFO, we exclude any unrealized fair value adjustments to interest rate swaps and the portion of our non-cash ground lease expense recognized as interest expense.Μύ We exclude these non-cash amounts because they do not reflect the underlying performance of the Company.

Hotel Adjusted EBITDA

We believe that Hotel Adjusted EBITDA provides our investors a useful financial measure to evaluate our hotel operating performance, excluding the impact of our capital structure (primarily interest), our asset base (primarily depreciation and amortization), and our corporate-level expenses.Μύ With respect to Hotel Adjusted EBITDA, we believe that excluding the effect of corporate-level expenses provides a more complete understanding of the operating results over which individual hotels and third-party management companies have direct control.Μύ We believe property-level results provide investors with supplemental information on the ongoing operational performance of our hotels and effectiveness of the third-party management companies operating our business on a property-level basis. Hotel Adjusted EBITDA margins are calculated as Hotel Adjusted EBITDA divided by total hotel revenues. ΜύΜύΜύΜύΜύΜύΜύΜύ

Reconciliations of Non-GAAP Measures


EBITDA, EBITDAre, Adjusted EBITDA and Hotel Adjusted EBITDA


The following tables are reconciliations of our GAAP net income to EBITDA, EBITDAre and Adjusted EBITDA and Hotel Adjusted EBITDA (in thousands): ΜύΜύΜύΜύΜύ



Three Months Ended December 31,


Year Ended December 31,ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ


2024


2023



2024


2023

Net income

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ (11,296)


$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 10,983



$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 48,250


$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 86,635

Interest expense

16,082


16,360



65,516


65,072

Income tax expense / (benefit)

845


(103)



1,541


317

AGΥζΘΛΉΩ·½ estate related depreciation and amortization

29,046


28,307



113,588


111,302

EBITDA

34,677


55,547



228,895


263,326

Impairment losses

32,573


�



34,169


941

EBITDAre

67,250


55,547



263,064


264,267

Non-cash lease expense and other amortization

1,366


1,536



5,970


6,156

Severance costs

�


�



20,362


�

Hotel pre-opening costs

81


208



1,006


1,246

Adjusted EBITDA

68,697


57,291



290,402


271,669

Corporate expenses

7,828


8,371



32,549


32,048

Interest (income) and other (income) expense, net

(1,072)


(844)



(4,337)


(2,561)

Hotel Adjusted EBITDA

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 75,453


$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 64,818



$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 318,614


$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 301,156

Μύ


Full Year 2025 Guidance


Low End


High End

Net income

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 79,117


$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 105,117

Interest expense

65,000


64,000

Income tax expense

1,183


2,183

AGΥζΘΛΉΩ·½ estate related depreciation and amortization

116,000


115,000

EBITDA/EBITDAre

261,300


286,300

Non-cash lease expense and other amortization

6,200


6,200

Share-based compensation expense

7,000


7,000

Hotel pre-opening costs

500


500

Adjusted EBITDA

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 275,000


$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 300,000

Μύ

FFO and Adjusted FFO


The following tables are reconciliations of our GAAP net income to FFO and Adjusted FFO (in thousands):Μύ



Three Months Ended December 31,


Year Ended December 31,ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ


2024


2023



2024


2023

Net income

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ (11,296)


$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 10,983



$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 48,250


$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 86,635

AGΥζΘΛΉΩ·½ estate related depreciation and amortization

29,046


28,307



113,588


111,302

Impairment losses

32,573


�



34,169


941

FFO

50,323


39,290



196,007


198,878

Distribution to preferred stockholders

(2,454)


(2,454)



(9,817)


(9,817)

FFO available to common stock and unit holders

47,869


36,836



186,190


189,061

Non-cash lease expense and other amortization

1,488


1,536



6,092


6,156

Severance costs

�


�



20,362


�

Hotel pre-opening costs

81


208



1,006


1,246

Fair value adjustments to interest rate swaps

�


�



�


2,033

Adjusted FFO available to common stock and unit holders

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 49,438


$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 38,580



$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 213,650


$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 198,496

Adjusted FFO available to common stock and unit holders, per diluted share

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 0.24


$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 0.18



$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 1.01


$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 0.93

Diluted Weighted Average Shares and Units

209,960


213,301



212,141


213,035

Μύ


Full Year 2025 Guidance


Low End


High End

Net income

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 79,117


$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 105,117

AGΥζΘΛΉΩ·½ estate related depreciation and amortization

116,000


115,000

FFO

195,117


220,117

Distribution to preferred stockholders

(9,817)


(9,817)

FFO available to common stock and unit holders

185,300


210,300

Non-cash lease expense and other amortization

6,200


6,200

Share-based compensation expense

7,000


7,000

Hotel pre-opening costs

500


500

Adjusted FFO available to common stock and unit holders

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 199,000


$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 224,000

Adjusted FFO available to common stock and unit holders, per diluted share

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 0.94


$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 1.06

Diluted Weighted Average Shares and Units

211,000


211,000

ΜύΜύΜύΜύ

Reconciliation of Comparable Operating Results


The following presents the revenues, Hotel Adjusted EBITDA and Hotel Adjusted EBITDA Margin together with comparable prior year results (in thousands):ΜύΜύΜύΜύ



Three Months Ended December 31,

Year Ended December 31,


2024


2023


2024


2023

Revenues

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύ 279,051


$ΜύΜύΜύΜύΜύΜύΜύΜύΜύ 263,547


$ΜύΜύΜύΜύΜύΜύ 1,129,883


$ΜύΜύΜύΜύΜύ 1,074,867

Hotel revenues from prior ownership (1)

1,423


1,881


9,257


17,585

Comparable Revenues

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύ 280,474


$ΜύΜύΜύΜύΜύΜύΜύΜύΜύ 265,428


$ΜύΜύΜύΜύΜύΜύ 1,139,140


$ΜύΜύΜύΜύΜύ 1,092,452









Hotel Adjusted EBITDA

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 75,453


$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 64,818


$ΜύΜύΜύΜύΜύΜύΜύΜύΜύ 318,614


$ΜύΜύΜύΜύΜύΜύΜύΜύΜύ 301,156

Hotel Adjusted EBITDA from prior ownership (1)

487


353


2,781


4,068

Comparable Hotel Adjusted EBITDA

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 75,940


$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 65,171


$ΜύΜύΜύΜύΜύΜύΜύΜύΜύ 321,395


$ΜύΜύΜύΜύΜύΜύΜύΜύΜύ 305,224









Hotel Adjusted EBITDA Margin

27.04Μύ%


24.59Μύ%


28.20Μύ%


28.02Μύ%

Comparable Hotel Adjusted EBITDA Margin

27.08Μύ%


24.55Μύ%


28.21Μύ%


27.94Μύ%



(1)

Amounts represent the pre-acquisition operating results for AC Hotel Minneapolis Downtown from January 1, 2023 to November 11, 2024 and Chico Hot Springs Resort from January 1, 2023 to July 31, 2023.Μύ The pre-acquisition operating results were obtained from the seller of the hotel during the acquisition due diligence process. We have made no adjustments to the amounts provided to us by the seller. The pre-acquisition operating results were not audited or reviewed by the Company's independent auditors.

Μύ

Selected Quarterly Comparable Operating Information


The following table is presented to provide investors with selected quarterly comparable operating information for the Company's current portfolio of 36 hotels.



Quarter 1, 2024

Quarter 2, 2024

Quarter 3, 2024

Quarter 4, 2024

Full Year 2024

ADR

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύ 269.95

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύ 292.59

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύ 282.05

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύ 291.24

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύ 284.26

Occupancy

67.6Μύ%

77.5Μύ%

76.2Μύ%

69.5Μύ%

72.7Μύ%

RevPAR

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύ 182.50

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύ 226.83

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύ 214.79

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύ 202.40

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύ 206.64

Total RevPAR

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύ 287.09

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύ 346.27

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύ 318.60

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύ 309.18

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύ 315.28

Revenues (in thousands)

$ΜύΜύΜύΜύΜύΜύΜύ 250,491

$ΜύΜύΜύΜύΜύΜύΜύ 302,217

$ΜύΜύΜύΜύΜύΜύΜύ 281,127

$ΜύΜύΜύΜύΜύΜύΜύ 272,783

$ΜύΜύΜύΜύ 1,106,618

Hotel Adjusted EBITDA (in thousands)

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύ 60,047

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύ 97,206

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύ 82,003

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύ 73,899

$ΜύΜύΜύΜύΜύΜύΜύ 313,155

Hotel Adjusted EBITDA Margin

23.97Μύ%

32.16Μύ%

29.17Μύ%

27.09Μύ%

28.30Μύ%

Available Rooms

872,508

872,781

882,372

882,280

3,509,941

Μύ

Market Capitalization as of December 31, 2024

(in thousands)

Enterprise Value






Common equity capitalization (at December 31, 2024 closing price of $9.03/share)


$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 1,902,473

Preferred equity capitalization (at liquidation value of $25.00/share)


119,000

Consolidated debt (face amount)


1,095,808

Cash and cash equivalents


(81,381)

Total enterprise value


$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 3,035,900

Share Reconciliation






Common shares outstanding


207,592

Operating partnership units


1,135

Unvested restricted stock held by management and employees


622

Share grants under deferred compensation plan


1,335

Combined shares and units


210,684

Μύ

Debt Summary as of December 31, 2024

(dollars in thousands)

Loan


Interest Rate


Term


Outstanding
Principal


Maturity

Worthington Renaissance Fort Worth Hotel


3.66Μύ%


Fixed


71,766


May 2025

Hotel Clio


4.33Μύ%


Fixed


54,657


July 2025

Westin Boston Seaport District


4.36Μύ%


Fixed


169,385


November 2025

Unsecured term loan


SOFR + 1.35% (1)


Variable


500,000


January 2028

Unsecured term loan


SOFR + 1.35% (2)


Variable


300,000


January 2026 (3)

Senior unsecured credit facility


SOFR + 1.40%


Variable


�


September 2026 (4)

Total debt






1,095,808



ΜύΜύΜύΜύ Unamortized debt issuance costs (5)






(514)



Debt, net of unamortized debt issuance costs




$ΜύΜύΜύ 1,095,294












Weighted-average interest rate of fixed rate debt


4.48Μύ%







Total weighted-average interest rate (6)


5.21Μύ%


















(1)

Interest rate as of December 31, 2024 was 5.38%, which includes the effect of interest rate swaps.

(2)

Interest rate as of December 31, 2024 was 5.79%.

(3)

In September 2024, we exercised our option to extend the maturity by an additional year to January 2026.

(4)

Maturity date may be extended for an additional year upon the payment of applicable fees and the satisfaction of certain customary conditions.

(5)

Excludes debt issuance costs related to our senior unsecured credit facility, which are included withinΜύ Prepaid and Other Assets on the accompanying consolidated balance sheet.

(6)

Weighted-average interest rate includes the effect of interest rate swaps.

Μύ


Operating Statistics � Fourth Quarter


Number
of Rooms

ADR


Occupancy


RevPAR


4Q 2024

4Q 2023

B/(W) 2023


4Q 2024

4Q 2023

B/(W) 2023


4Q 2024

4Q 2023

B/(W) 2023














AC Hotel Minneapolis Downtown (1)

245

$ΜύΜύΜύΜύΜύΜύΜύΜύ 136.45

$ΜύΜύΜύΜύΜύΜύΜύΜύ 134.51

1.4Μύ%


39.4Μύ%

35.2Μύ%

4.2Μύ%


$ΜύΜύΜύΜύΜύΜύΜύΜύΜύ 53.73

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύ 47.37

13.4Μύ%

Atlanta Marriott Alpharetta

318

$ΜύΜύΜύΜύΜύΜύΜύΜύ 158.90

$ΜύΜύΜύΜύΜύΜύΜύΜύ 159.19

(0.2)Μύ%


63.1Μύ%

57.4Μύ%

5.7Μύ%


$ΜύΜύΜύΜύΜύΜύΜύΜύ 100.19

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύ 91.42

9.6Μύ%

Bourbon Orleans Hotel

220

$ΜύΜύΜύΜύΜύΜύΜύΜύ 276.79

$ΜύΜύΜύΜύΜύΜύΜύΜύ 254.80

8.6Μύ%


67.8Μύ%

71.7Μύ%

(3.9)Μύ%


$ΜύΜύΜύΜύΜύΜύΜύΜύ 187.68

$ΜύΜύΜύΜύΜύΜύΜύΜύ 182.57

2.8Μύ%

Cavallo Point, The Lodge at the Golden Gate

142

$ΜύΜύΜύΜύΜύΜύΜύΜύ 562.69

$ΜύΜύΜύΜύΜύΜύΜύΜύ 595.48

(5.5)Μύ%


61.6Μύ%

54.1Μύ%

7.5Μύ%


$ΜύΜύΜύΜύΜύΜύΜύΜύ 346.56

$ΜύΜύΜύΜύΜύΜύΜύΜύ 322.08

7.6Μύ%

Chicago Marriott Downtown Magnificent Mile

1,200

$ΜύΜύΜύΜύΜύΜύΜύΜύ 271.35

$ΜύΜύΜύΜύΜύΜύΜύΜύ 248.64

9.1Μύ%


65.9Μύ%

55.9Μύ%

10.0Μύ%


$ΜύΜύΜύΜύΜύΜύΜύΜύ 178.79

$ΜύΜύΜύΜύΜύΜύΜύΜύ 138.90

28.7Μύ%

Chico Hot Springs Resort & Day Spa

117

$ΜύΜύΜύΜύΜύΜύΜύΜύ 205.51

$ΜύΜύΜύΜύΜύΜύΜύΜύ 183.22

12.2Μύ%


59.7Μύ%

56.8Μύ%

2.9Μύ%


$ΜύΜύΜύΜύΜύΜύΜύΜύ 122.66

$ΜύΜύΜύΜύΜύΜύΜύΜύ 104.05

17.9Μύ%

Courtyard Denver Downtown

177

$ΜύΜύΜύΜύΜύΜύΜύΜύ 186.30

$ΜύΜύΜύΜύΜύΜύΜύΜύ 203.58

(8.5)Μύ%


71.1Μύ%

65.8Μύ%

5.3Μύ%


$ΜύΜύΜύΜύΜύΜύΜύΜύ 132.42

$ΜύΜύΜύΜύΜύΜύΜύΜύ 133.97

(1.2)Μύ%

Courtyard New York Manhattan/Fifth Avenue

189

$ΜύΜύΜύΜύΜύΜύΜύΜύ 379.78

$ΜύΜύΜύΜύΜύΜύΜύΜύ 346.88

9.5Μύ%


96.2Μύ%

95.8Μύ%

0.4Μύ%


$ΜύΜύΜύΜύΜύΜύΜύΜύ 365.21

$ΜύΜύΜύΜύΜύΜύΜύΜύ 332.38

9.9Μύ%

Courtyard New York Manhattan/Midtown East

321

$ΜύΜύΜύΜύΜύΜύΜύΜύ 459.19

$ΜύΜύΜύΜύΜύΜύΜύΜύ 424.16

8.3Μύ%


91.4Μύ%

92.0Μύ%

(0.6)Μύ%


$ΜύΜύΜύΜύΜύΜύΜύΜύ 419.84

$ΜύΜύΜύΜύΜύΜύΜύΜύ 390.33

7.6Μύ%

Embassy Suites by Hilton Bethesda

272

$ΜύΜύΜύΜύΜύΜύΜύΜύ 174.53

$ΜύΜύΜύΜύΜύΜύΜύΜύ 164.99

5.8Μύ%


63.6Μύ%

68.6Μύ%

(5.0)Μύ%


$ΜύΜύΜύΜύΜύΜύΜύΜύ 111.03

$ΜύΜύΜύΜύΜύΜύΜύΜύ 113.20

(1.9)Μύ%

Havana Cabana Key West

106

$ΜύΜύΜύΜύΜύΜύΜύΜύ 254.64

$ΜύΜύΜύΜύΜύΜύΜύΜύ 285.15

(10.7)Μύ%


74.2Μύ%

80.2Μύ%

(6.0)Μύ%


$ΜύΜύΜύΜύΜύΜύΜύΜύ 188.92

$ΜύΜύΜύΜύΜύΜύΜύΜύ 228.69

(17.4)Μύ%

Henderson Beach Resort

269

$ΜύΜύΜύΜύΜύΜύΜύΜύ 304.09

$ΜύΜύΜύΜύΜύΜύΜύΜύ 313.74

(3.1)Μύ%


35.7Μύ%

37.4Μύ%

(1.7)Μύ%


$ΜύΜύΜύΜύΜύΜύΜύΜύ 108.65

$ΜύΜύΜύΜύΜύΜύΜύΜύ 117.44

(7.5)Μύ%

Henderson Park Inn

37

$ΜύΜύΜύΜύΜύΜύΜύΜύ 505.27

$ΜύΜύΜύΜύΜύΜύΜύΜύ 490.86

2.9Μύ%


50.9Μύ%

65.0Μύ%

(14.1)Μύ%


$ΜύΜύΜύΜύΜύΜύΜύΜύ 257.09

$ΜύΜύΜύΜύΜύΜύΜύΜύ 318.83

(19.4)Μύ%

Hilton Garden Inn New York/Times Square Central

282

$ΜύΜύΜύΜύΜύΜύΜύΜύ 365.01

$ΜύΜύΜύΜύΜύΜύΜύΜύ 338.43

7.9Μύ%


98.5Μύ%

97.4Μύ%

1.1Μύ%


$ΜύΜύΜύΜύΜύΜύΜύΜύ 359.50

$ΜύΜύΜύΜύΜύΜύΜύΜύ 329.68

9.0Μύ%

Hotel Champlain Burlington

258

$ΜύΜύΜύΜύΜύΜύΜύΜύ 226.21

$ΜύΜύΜύΜύΜύΜύΜύΜύ 237.78

(4.9)Μύ%


75.6Μύ%

74.1Μύ%

1.5Μύ%


$ΜύΜύΜύΜύΜύΜύΜύΜύ 171.06

$ΜύΜύΜύΜύΜύΜύΜύΜύ 176.23

(2.9)Μύ%

Hotel Clio

199

$ΜύΜύΜύΜύΜύΜύΜύΜύ 283.43

$ΜύΜύΜύΜύΜύΜύΜύΜύ 294.92

(3.9)Μύ%


78.6Μύ%

74.0Μύ%

4.6Μύ%


$ΜύΜύΜύΜύΜύΜύΜύΜύ 222.85

$ΜύΜύΜύΜύΜύΜύΜύΜύ 218.31

2.1Μύ%

Hotel Emblem San Francisco

96

$ΜύΜύΜύΜύΜύΜύΜύΜύ 157.32

$ΜύΜύΜύΜύΜύΜύΜύΜύ 198.08

(20.6)Μύ%


52.2Μύ%

62.2Μύ%

(10.0)Μύ%


$ΜύΜύΜύΜύΜύΜύΜύΜύΜύ 82.08

$ΜύΜύΜύΜύΜύΜύΜύΜύ 123.24

(33.4)Μύ%

Kimpton Hotel Palomar Phoenix

242

$ΜύΜύΜύΜύΜύΜύΜύΜύ 216.36

$ΜύΜύΜύΜύΜύΜύΜύΜύ 222.15

(2.6)Μύ%


72.5Μύ%

76.2Μύ%

(3.7)Μύ%


$ΜύΜύΜύΜύΜύΜύΜύΜύ 156.77

$ΜύΜύΜύΜύΜύΜύΜύΜύ 169.22

(7.4)Μύ%

Kimpton Shorebreak Fort Lauderdale Beach Resort

96

$ΜύΜύΜύΜύΜύΜύΜύΜύ 208.69

$ΜύΜύΜύΜύΜύΜύΜύΜύ 194.74

7.2Μύ%


71.5Μύ%

72.1Μύ%

(0.6)Μύ%


$ΜύΜύΜύΜύΜύΜύΜύΜύ 149.24

$ΜύΜύΜύΜύΜύΜύΜύΜύ 140.34

6.3Μύ%

Kimpton Shorebreak Huntington Beach Resort

157

$ΜύΜύΜύΜύΜύΜύΜύΜύ 261.23

$ΜύΜύΜύΜύΜύΜύΜύΜύ 278.33

(6.1)Μύ%


76.9Μύ%

83.7Μύ%

(6.8)Μύ%


$ΜύΜύΜύΜύΜύΜύΜύΜύ 200.88

$ΜύΜύΜύΜύΜύΜύΜύΜύ 232.99

(13.8)Μύ%

L'Auberge de Sedona

88

$ΜύΜύΜύΜύΜύΜύΜύΜύ 999.60

$ΜύΜύΜύΜύΜύΜύΜύΜύ 976.16

2.4Μύ%


71.4Μύ%

71.0Μύ%

0.4Μύ%


$ΜύΜύΜύΜύΜύΜύΜύΜύ 713.65

$ΜύΜύΜύΜύΜύΜύΜύΜύ 693.17

3.0Μύ%

Lake Austin Spa Resort

40

$ΜύΜύΜύΜύΜύΜύΜύΜύ 984.52

$ΜύΜύΜύΜύΜύ 1,048.17

(6.1)Μύ%


53.6Μύ%

58.3Μύ%

(4.7)Μύ%


$ΜύΜύΜύΜύΜύΜύΜύΜύ 527.84

$ΜύΜύΜύΜύΜύΜύΜύΜύ 610.67

(13.6)Μύ%

Margaritaville Beach House Key West

186

$ΜύΜύΜύΜύΜύΜύΜύΜύ 379.48

$ΜύΜύΜύΜύΜύΜύΜύΜύ 380.73

(0.3)Μύ%


77.0Μύ%

77.9Μύ%

(0.9)Μύ%


$ΜύΜύΜύΜύΜύΜύΜύΜύ 292.30

$ΜύΜύΜύΜύΜύΜύΜύΜύ 296.54

(1.4)Μύ%

Orchards Inn Sedona

70

$ΜύΜύΜύΜύΜύΜύΜύΜύ 354.47

$ΜύΜύΜύΜύΜύΜύΜύΜύ 328.61

7.9Μύ%


30.7Μύ%

61.0Μύ%

(30.3)Μύ%


$ΜύΜύΜύΜύΜύΜύΜύΜύ 108.87

$ΜύΜύΜύΜύΜύΜύΜύΜύ 200.43

(45.7)Μύ%

Salt Lake City Marriott Downtown at City Creek

510

$ΜύΜύΜύΜύΜύΜύΜύΜύ 190.05

$ΜύΜύΜύΜύΜύΜύΜύΜύ 174.37

9.0Μύ%


60.7Μύ%

60.6Μύ%

0.1Μύ%


$ΜύΜύΜύΜύΜύΜύΜύΜύ 115.28

$ΜύΜύΜύΜύΜύΜύΜύΜύ 105.72

9.0Μύ%

The Dagny Boston

403

$ΜύΜύΜύΜύΜύΜύΜύΜύ 286.50

$ΜύΜύΜύΜύΜύΜύΜύΜύ 243.15

17.8Μύ%


84.1Μύ%

86.2Μύ%

(2.1)Μύ%


$ΜύΜύΜύΜύΜύΜύΜύΜύ 241.06

$ΜύΜύΜύΜύΜύΜύΜύΜύ 209.62

15.0Μύ%

The Gwen

311

$ΜύΜύΜύΜύΜύΜύΜύΜύ 299.97

$ΜύΜύΜύΜύΜύΜύΜύΜύ 291.32

3.0Μύ%


74.1Μύ%

74.3Μύ%

(0.2)Μύ%


$ΜύΜύΜύΜύΜύΜύΜύΜύ 222.36

$ΜύΜύΜύΜύΜύΜύΜύΜύ 216.48

2.7Μύ%

The Hythe Vail

344

$ΜύΜύΜύΜύΜύΜύΜύΜύ 452.36

$ΜύΜύΜύΜύΜύΜύΜύΜύ 443.41

2.0Μύ%


45.8Μύ%

42.4Μύ%

3.4Μύ%


$ΜύΜύΜύΜύΜύΜύΜύΜύ 207.40

$ΜύΜύΜύΜύΜύΜύΜύΜύ 187.87

10.4Μύ%

The Landing Lake Tahoe Resort & Spa

82

$ΜύΜύΜύΜύΜύΜύΜύΜύ 337.17

$ΜύΜύΜύΜύΜύΜύΜύΜύ 367.30

(8.2)Μύ%


50.4Μύ%

46.7Μύ%

3.7Μύ%


$ΜύΜύΜύΜύΜύΜύΜύΜύ 169.88

$ΜύΜύΜύΜύΜύΜύΜύΜύ 171.38

(0.9)Μύ%

The Lindy Renaissance Charleston Hotel

167

$ΜύΜύΜύΜύΜύΜύΜύΜύ 352.82

$ΜύΜύΜύΜύΜύΜύΜύΜύ 332.83

6.0Μύ%


87.0Μύ%

87.1Μύ%

(0.1)Μύ%


$ΜύΜύΜύΜύΜύΜύΜύΜύ 307.03

$ΜύΜύΜύΜύΜύΜύΜύΜύ 289.77

6.0Μύ%

The Lodge at Sonoma Resort

182

$ΜύΜύΜύΜύΜύΜύΜύΜύ 390.94

$ΜύΜύΜύΜύΜύΜύΜύΜύ 438.25

(10.8)Μύ%


70.2Μύ%

52.9Μύ%

17.3Μύ%


$ΜύΜύΜύΜύΜύΜύΜύΜύ 274.39

$ΜύΜύΜύΜύΜύΜύΜύΜύ 231.63

18.5Μύ%

Tranquility Bay Beachfront Resort

103

$ΜύΜύΜύΜύΜύΜύΜύΜύ 529.17

$ΜύΜύΜύΜύΜύΜύΜύΜύ 560.50

(5.6)Μύ%


67.0Μύ%

74.0Μύ%

(7.0)Μύ%


$ΜύΜύΜύΜύΜύΜύΜύΜύ 354.55

$ΜύΜύΜύΜύΜύΜύΜύΜύ 414.99

(14.6)Μύ%

Westin Boston Waterfront

793

$ΜύΜύΜύΜύΜύΜύΜύΜύ 270.24

$ΜύΜύΜύΜύΜύΜύΜύΜύ 258.04

4.7Μύ%


75.2Μύ%

71.8Μύ%

3.4Μύ%


$ΜύΜύΜύΜύΜύΜύΜύΜύ 203.11

$ΜύΜύΜύΜύΜύΜύΜύΜύ 185.18

9.7Μύ%

Westin Fort Lauderdale Beach Resort

432

$ΜύΜύΜύΜύΜύΜύΜύΜύ 247.81

$ΜύΜύΜύΜύΜύΜύΜύΜύ 235.79

5.1Μύ%


74.4Μύ%

76.9Μύ%

(2.5)Μύ%


$ΜύΜύΜύΜύΜύΜύΜύΜύ 184.40

$ΜύΜύΜύΜύΜύΜύΜύΜύ 181.42

1.6Μύ%

Westin San Diego Bayview

436

$ΜύΜύΜύΜύΜύΜύΜύΜύ 222.23

$ΜύΜύΜύΜύΜύΜύΜύΜύ 224.65

(1.1)Μύ%


68.1Μύ%

65.0Μύ%

3.1Μύ%


$ΜύΜύΜύΜύΜύΜύΜύΜύ 151.43

$ΜύΜύΜύΜύΜύΜύΜύΜύ 146.08

3.7Μύ%

Westin Washington D.C. City Center

410

$ΜύΜύΜύΜύΜύΜύΜύΜύ 256.97

$ΜύΜύΜύΜύΜύΜύΜύΜύ 227.50

13.0Μύ%


60.4Μύ%

64.6Μύ%

(4.2)Μύ%


$ΜύΜύΜύΜύΜύΜύΜύΜύ 155.17

$ΜύΜύΜύΜύΜύΜύΜύΜύ 146.92

5.6Μύ%

Worthington Renaissance Fort Worth Hotel

504

$ΜύΜύΜύΜύΜύΜύΜύΜύ 203.43

$ΜύΜύΜύΜύΜύΜύΜύΜύ 208.37

(2.4)Μύ%


69.2Μύ%

69.9Μύ%

(0.7)Μύ%


$ΜύΜύΜύΜύΜύΜύΜύΜύ 140.86

$ΜύΜύΜύΜύΜύΜύΜύΜύ 145.65

(3.3)Μύ%

Comparable Total (2)

10,004

$ΜύΜύΜύΜύΜύΜύΜύΜύ 290.02

$ΜύΜύΜύΜύΜύΜύΜύΜύ 280.55

3.4Μύ%


69.1Μύ%

67.8Μύ%

1.3Μύ%


$ΜύΜύΜύΜύΜύΜύΜύΜύ 200.46

$ΜύΜύΜύΜύΜύΜύΜύΜύ 190.18

5.4Μύ%














(1)

Hotel was acquired on November 12, 2024.Μύ Amounts reflect the operating results of the period from November 12, 2024 to December 31, 2024 and the comparable period of 2023.Μύ

(2)

Amounts include the pre-acquisition operating results of the AC Minneapolis Downtown acquired in 2024 and Chico Hot Springs Resort & Day Spa acquired in 2023.Μύ

ΜύΜύΜύΜύΜύΜύΜύ


Operating Statistics � Year to Date


Number
of Rooms

ADR


Occupancy


RevPAR


YTD 2024

YTD 2023

B/(W) 2023


YTD 2024

YTD 2023

B/(W) 2023


YTD 2024

YTD 2023

B/(W) 2023














AC Hotel Minneapolis Downtown (1)

245

$ΜύΜύΜύΜύΜύΜύΜύΜύ 136.45

$ΜύΜύΜύΜύΜύΜύΜύΜύ 134.51

1.4Μύ%


39.4Μύ%

35.2Μύ%

4.2Μύ%


$ΜύΜύΜύΜύΜύΜύΜύΜύΜύ 53.73

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύ 47.37

13.4Μύ%

Atlanta Marriott Alpharetta

318

$ΜύΜύΜύΜύΜύΜύΜύΜύ 157.97

$ΜύΜύΜύΜύΜύΜύΜύΜύ 155.55

1.6Μύ%


64.4Μύ%

65.7Μύ%

(1.3)Μύ%


$ΜύΜύΜύΜύΜύΜύΜύΜύ 101.66

$ΜύΜύΜύΜύΜύΜύΜύΜύ 102.21

(0.5)Μύ%

Bourbon Orleans Hotel

220

$ΜύΜύΜύΜύΜύΜύΜύΜύ 249.85

$ΜύΜύΜύΜύΜύΜύΜύΜύ 241.00

3.7Μύ%


68.5Μύ%

75.6Μύ%

(7.1)Μύ%


$ΜύΜύΜύΜύΜύΜύΜύΜύ 171.10

$ΜύΜύΜύΜύΜύΜύΜύΜύ 182.23

(6.1)Μύ%

Cavallo Point, The Lodge at the Golden Gate

142

$ΜύΜύΜύΜύΜύΜύΜύΜύ 574.60

$ΜύΜύΜύΜύΜύΜύΜύΜύ 591.89

(2.9)Μύ%


60.3Μύ%

55.4Μύ%

4.9Μύ%


$ΜύΜύΜύΜύΜύΜύΜύΜύ 346.53

$ΜύΜύΜύΜύΜύΜύΜύΜύ 327.66

5.8Μύ%

Chicago Marriott Downtown Magnificent Mile

1,200

$ΜύΜύΜύΜύΜύΜύΜύΜύ 257.60

$ΜύΜύΜύΜύΜύΜύΜύΜύ 246.73

4.4Μύ%


63.4Μύ%

59.5Μύ%

3.9Μύ%


$ΜύΜύΜύΜύΜύΜύΜύΜύ 163.27

$ΜύΜύΜύΜύΜύΜύΜύΜύ 146.76

11.2Μύ%

Chico Hot Springs Resort & Day Spa

117

$ΜύΜύΜύΜύΜύΜύΜύΜύ 205.35

$ΜύΜύΜύΜύΜύΜύΜύΜύ 177.58

15.6Μύ%


70.4Μύ%

70.7Μύ%

(0.3)Μύ%


$ΜύΜύΜύΜύΜύΜύΜύΜύ 144.62

$ΜύΜύΜύΜύΜύΜύΜύΜύ 125.52

15.2Μύ%

Courtyard Denver Downtown

177

$ΜύΜύΜύΜύΜύΜύΜύΜύ 202.95

$ΜύΜύΜύΜύΜύΜύΜύΜύ 216.78

(6.4)Μύ%


77.2Μύ%

75.2Μύ%

2.0Μύ%


$ΜύΜύΜύΜύΜύΜύΜύΜύ 156.69

$ΜύΜύΜύΜύΜύΜύΜύΜύ 163.04

(3.9)Μύ%

Courtyard New York Manhattan/Fifth Avenue

189

$ΜύΜύΜύΜύΜύΜύΜύΜύ 306.10

$ΜύΜύΜύΜύΜύΜύΜύΜύ 289.73

5.7Μύ%


91.5Μύ%

95.3Μύ%

(3.8)Μύ%


$ΜύΜύΜύΜύΜύΜύΜύΜύ 280.11

$ΜύΜύΜύΜύΜύΜύΜύΜύ 276.15

1.4Μύ%

Courtyard New York Manhattan/Midtown East

321

$ΜύΜύΜύΜύΜύΜύΜύΜύ 357.72

$ΜύΜύΜύΜύΜύΜύΜύΜύ 342.30

4.5Μύ%


92.3Μύ%

90.9Μύ%

1.4Μύ%


$ΜύΜύΜύΜύΜύΜύΜύΜύ 330.11

$ΜύΜύΜύΜύΜύΜύΜύΜύ 311.13

6.1Μύ%

Embassy Suites by Hilton Bethesda

272

$ΜύΜύΜύΜύΜύΜύΜύΜύ 175.06

$ΜύΜύΜύΜύΜύΜύΜύΜύ 163.92

6.8Μύ%


69.7Μύ%

71.0Μύ%

(1.3)Μύ%


$ΜύΜύΜύΜύΜύΜύΜύΜύ 122.07

$ΜύΜύΜύΜύΜύΜύΜύΜύ 116.45

4.8Μύ%

Havana Cabana Key West

106

$ΜύΜύΜύΜύΜύΜύΜύΜύ 293.52

$ΜύΜύΜύΜύΜύΜύΜύΜύ 300.60

(2.4)Μύ%


77.7Μύ%

83.2Μύ%

(5.5)Μύ%


$ΜύΜύΜύΜύΜύΜύΜύΜύ 227.99

$ΜύΜύΜύΜύΜύΜύΜύΜύ 250.01

(8.8)Μύ%

Henderson Park Resort

269

$ΜύΜύΜύΜύΜύΜύΜύΜύ 406.38

$ΜύΜύΜύΜύΜύΜύΜύΜύ 432.60

(6.1)Μύ%


53.1Μύ%

55.4Μύ%

(2.3)Μύ%


$ΜύΜύΜύΜύΜύΜύΜύΜύ 215.61

$ΜύΜύΜύΜύΜύΜύΜύΜύ 239.49

(10.0)Μύ%

Henderson Park Inn

37

$ΜύΜύΜύΜύΜύΜύΜύΜύ 575.56

$ΜύΜύΜύΜύΜύΜύΜύΜύ 595.38

(3.3)Μύ%


65.6Μύ%

68.9Μύ%

(3.3)Μύ%


$ΜύΜύΜύΜύΜύΜύΜύΜύ 377.33

$ΜύΜύΜύΜύΜύΜύΜύΜύ 410.13

(8.0)Μύ%

Hilton Garden Inn New York/Times Square Central

282

$ΜύΜύΜύΜύΜύΜύΜύΜύ 280.33

$ΜύΜύΜύΜύΜύΜύΜύΜύ 275.67

1.7Μύ%


92.0Μύ%

91.4Μύ%

0.6Μύ%


$ΜύΜύΜύΜύΜύΜύΜύΜύ 257.81

$ΜύΜύΜύΜύΜύΜύΜύΜύ 251.93

2.3Μύ%

Hotel Champlain Burlington

258

$ΜύΜύΜύΜύΜύΜύΜύΜύ 235.51

$ΜύΜύΜύΜύΜύΜύΜύΜύ 248.79

(5.3)Μύ%


74.6Μύ%

75.7Μύ%

(1.1)Μύ%


$ΜύΜύΜύΜύΜύΜύΜύΜύ 175.69

$ΜύΜύΜύΜύΜύΜύΜύΜύ 188.22

(6.7)Μύ%

Hotel Clio

199

$ΜύΜύΜύΜύΜύΜύΜύΜύ 304.46

$ΜύΜύΜύΜύΜύΜύΜύΜύ 313.75

(3.0)Μύ%


77.9Μύ%

71.9Μύ%

6.0Μύ%


$ΜύΜύΜύΜύΜύΜύΜύΜύ 237.26

$ΜύΜύΜύΜύΜύΜύΜύΜύ 225.52

5.2Μύ%

Hotel Emblem San Francisco

96

$ΜύΜύΜύΜύΜύΜύΜύΜύ 195.52

$ΜύΜύΜύΜύΜύΜύΜύΜύ 234.34

(16.6)Μύ%


59.9Μύ%

65.8Μύ%

(5.9)Μύ%


$ΜύΜύΜύΜύΜύΜύΜύΜύ 117.20

$ΜύΜύΜύΜύΜύΜύΜύΜύ 154.14

(24.0)Μύ%

Kimpton Hotel Palomar Phoenix

242

$ΜύΜύΜύΜύΜύΜύΜύΜύ 222.82

$ΜύΜύΜύΜύΜύΜύΜύΜύ 222.03

0.4Μύ%


75.1Μύ%

76.0Μύ%

(0.9)Μύ%


$ΜύΜύΜύΜύΜύΜύΜύΜύ 167.41

$ΜύΜύΜύΜύΜύΜύΜύΜύ 168.84

(0.8)Μύ%

Kimpton Shorebreak Fort Lauderdale Beach Resort

96

$ΜύΜύΜύΜύΜύΜύΜύΜύ 203.39

$ΜύΜύΜύΜύΜύΜύΜύΜύ 211.05

(3.6)Μύ%


73.7Μύ%

67.7Μύ%

6.0Μύ%


$ΜύΜύΜύΜύΜύΜύΜύΜύ 149.98

$ΜύΜύΜύΜύΜύΜύΜύΜύ 142.94

4.9Μύ%

Kimpton Shorebreak Huntington Beach Resort

157

$ΜύΜύΜύΜύΜύΜύΜύΜύ 312.59

$ΜύΜύΜύΜύΜύΜύΜύΜύ 322.69

(3.1)Μύ%


82.1Μύ%

81.9Μύ%

0.2Μύ%


$ΜύΜύΜύΜύΜύΜύΜύΜύ 256.56

$ΜύΜύΜύΜύΜύΜύΜύΜύ 264.35

(2.9)Μύ%

L'Auberge de Sedona

88

$ΜύΜύΜύΜύΜύΜύΜύΜύ 886.86

$ΜύΜύΜύΜύΜύΜύΜύΜύ 926.89

(4.3)Μύ%


67.3Μύ%

62.8Μύ%

4.5Μύ%


$ΜύΜύΜύΜύΜύΜύΜύΜύ 597.16

$ΜύΜύΜύΜύΜύΜύΜύΜύ 581.76

2.6Μύ%

Lake Austin Spa Resort

40

$ΜύΜύΜύΜύΜύ 1,012.08

$ΜύΜύΜύΜύΜύ 1,065.76

(5.0)Μύ%


57.8Μύ%

58.5Μύ%

(0.7)Μύ%


$ΜύΜύΜύΜύΜύΜύΜύΜύ 585.19

$ΜύΜύΜύΜύΜύΜύΜύΜύ 623.11

(6.1)Μύ%

Margaritaville Beach House Key West

186

$ΜύΜύΜύΜύΜύΜύΜύΜύ 396.94

$ΜύΜύΜύΜύΜύΜύΜύΜύ 398.18

(0.3)Μύ%


82.3Μύ%

82.7Μύ%

(0.4)Μύ%


$ΜύΜύΜύΜύΜύΜύΜύΜύ 326.63

$ΜύΜύΜύΜύΜύΜύΜύΜύ 329.19

(0.8)Μύ%

Orchards Inn Sedona

70

$ΜύΜύΜύΜύΜύΜύΜύΜύ 293.23

$ΜύΜύΜύΜύΜύΜύΜύΜύ 293.83

(0.2)Μύ%


50.0Μύ%

59.9Μύ%

(9.9)Μύ%


$ΜύΜύΜύΜύΜύΜύΜύΜύ 146.71

$ΜύΜύΜύΜύΜύΜύΜύΜύ 176.08

(16.7)Μύ%

Salt Lake City Marriott Downtown at City Creek

510

$ΜύΜύΜύΜύΜύΜύΜύΜύ 192.28

$ΜύΜύΜύΜύΜύΜύΜύΜύ 186.86

2.9Μύ%


66.5Μύ%

62.6Μύ%

3.9Μύ%


$ΜύΜύΜύΜύΜύΜύΜύΜύ 127.86

$ΜύΜύΜύΜύΜύΜύΜύΜύ 116.96

9.3Μύ%

The Dagny Boston

403

$ΜύΜύΜύΜύΜύΜύΜύΜύ 277.32

$ΜύΜύΜύΜύΜύΜύΜύΜύ 278.65

(0.5)Μύ%


85.5Μύ%

77.8Μύ%

7.7Μύ%


$ΜύΜύΜύΜύΜύΜύΜύΜύ 236.99

$ΜύΜύΜύΜύΜύΜύΜύΜύ 216.90

9.3Μύ%

The Gwen

311

$ΜύΜύΜύΜύΜύΜύΜύΜύ 296.64

$ΜύΜύΜύΜύΜύΜύΜύΜύ 297.18

(0.2)Μύ%


75.2Μύ%

74.5Μύ%

0.7Μύ%


$ΜύΜύΜύΜύΜύΜύΜύΜύ 222.93

$ΜύΜύΜύΜύΜύΜύΜύΜύ 221.33

0.7Μύ%

The Hythe Vail

344

$ΜύΜύΜύΜύΜύΜύΜύΜύ 425.03

$ΜύΜύΜύΜύΜύΜύΜύΜύ 436.67

(2.7)Μύ%


59.8Μύ%

56.4Μύ%

3.4Μύ%


$ΜύΜύΜύΜύΜύΜύΜύΜύ 254.21

$ΜύΜύΜύΜύΜύΜύΜύΜύ 246.16

3.3Μύ%

The Landing Lake Tahoe Resort & Spa

82

$ΜύΜύΜύΜύΜύΜύΜύΜύ 415.66

$ΜύΜύΜύΜύΜύΜύΜύΜύ 448.48

(7.3)Μύ%


60.7Μύ%

51.4Μύ%

9.3Μύ%


$ΜύΜύΜύΜύΜύΜύΜύΜύ 252.27

$ΜύΜύΜύΜύΜύΜύΜύΜύ 230.43

9.5Μύ%

The Lindy Renaissance Charleston Hotel

167

$ΜύΜύΜύΜύΜύΜύΜύΜύ 344.88

$ΜύΜύΜύΜύΜύΜύΜύΜύ 347.26

(0.7)Μύ%


87.8Μύ%

88.7Μύ%

(0.9)Μύ%


$ΜύΜύΜύΜύΜύΜύΜύΜύ 302.80

$ΜύΜύΜύΜύΜύΜύΜύΜύ 307.88

(1.6)Μύ%

The Lodge at Sonoma Resort

182

$ΜύΜύΜύΜύΜύΜύΜύΜύ 405.07

$ΜύΜύΜύΜύΜύΜύΜύΜύ 451.90

(10.4)Μύ%


67.3Μύ%

60.2Μύ%

7.1Μύ%


$ΜύΜύΜύΜύΜύΜύΜύΜύ 272.43

$ΜύΜύΜύΜύΜύΜύΜύΜύ 272.13

0.1Μύ%

Tranquility Bay Beachfront ResortΜύ

103

$ΜύΜύΜύΜύΜύΜύΜύΜύ 601.79

$ΜύΜύΜύΜύΜύΜύΜύΜύ 630.39

(4.5)Μύ%


73.7Μύ%

76.8Μύ%

(3.1)Μύ%


$ΜύΜύΜύΜύΜύΜύΜύΜύ 443.56

$ΜύΜύΜύΜύΜύΜύΜύΜύ 484.26

(8.4)Μύ%

Westin Boston Waterfront

793

$ΜύΜύΜύΜύΜύΜύΜύΜύ 265.23

$ΜύΜύΜύΜύΜύΜύΜύΜύ 246.93

7.4Μύ%


83.6Μύ%

81.9Μύ%

1.7Μύ%


$ΜύΜύΜύΜύΜύΜύΜύΜύ 221.75

$ΜύΜύΜύΜύΜύΜύΜύΜύ 202.17

9.7Μύ%

Westin Fort Lauderdale Beach Resort

432

$ΜύΜύΜύΜύΜύΜύΜύΜύ 254.95

$ΜύΜύΜύΜύΜύΜύΜύΜύ 264.71

(3.7)Μύ%


78.1Μύ%

74.2Μύ%

3.9Μύ%


$ΜύΜύΜύΜύΜύΜύΜύΜύ 199.04

$ΜύΜύΜύΜύΜύΜύΜύΜύ 196.48

1.3Μύ%

Westin San Diego Bayview

436

$ΜύΜύΜύΜύΜύΜύΜύΜύ 229.57

$ΜύΜύΜύΜύΜύΜύΜύΜύ 217.02

5.8Μύ%


72.0Μύ%

76.1Μύ%

(4.1)Μύ%


$ΜύΜύΜύΜύΜύΜύΜύΜύ 165.35

$ΜύΜύΜύΜύΜύΜύΜύΜύ 165.18

0.1Μύ%

Westin Washington D.C. City Center

410

$ΜύΜύΜύΜύΜύΜύΜύΜύ 244.68

$ΜύΜύΜύΜύΜύΜύΜύΜύ 219.08

11.7Μύ%


69.5Μύ%

73.0Μύ%

(3.5)Μύ%


$ΜύΜύΜύΜύΜύΜύΜύΜύ 170.10

$ΜύΜύΜύΜύΜύΜύΜύΜύ 159.99

6.3Μύ%

Worthington Renaissance Fort Worth Hotel

504

$ΜύΜύΜύΜύΜύΜύΜύΜύ 206.33

$ΜύΜύΜύΜύΜύΜύΜύΜύ 197.52

4.5Μύ%


70.7Μύ%

73.3Μύ%

(2.6)Μύ%


$ΜύΜύΜύΜύΜύΜύΜύΜύ 145.86

$ΜύΜύΜύΜύΜύΜύΜύΜύ 144.86

0.7Μύ%

Comparable Total (2)

10,004

$ΜύΜύΜύΜύΜύΜύΜύΜύ 282.70

$ΜύΜύΜύΜύΜύΜύΜύΜύ 279.08

1.3Μύ%


72.6Μύ%

71.6Μύ%

1.0Μύ%


$ΜύΜύΜύΜύΜύΜύΜύΜύ 205.15

$ΜύΜύΜύΜύΜύΜύΜύΜύ 199.89

2.6Μύ%














(1)

Hotel was acquired on November 12, 2024.Μύ Amounts reflect the operating results of the period from November 12, 2024 to December 31, 2024 and the comparable period of 2023.Μύ

(2)

Amounts include the pre-acquisition operating results of the AC Minneapolis Downtown acquired in 2024 and Chico Hot Springs Resort & Day Spa acquired in 2023.Μύ

Μύ



Hotel Adjusted EBITDA Reconciliation - Fourth Quarter 2024








Net Income /
(Loss)

Plus:

Plus:

Plus:

Equals: Hotel
Adjusted EBITDA



Total Revenues


Depreciation

Interest Expense

Adjustments (1)

AC Hotel Minneapolis Downtown


$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 805


$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ (167)

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 198

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ β€�

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ β€�

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 31

Atlanta Marriott Alpharetta


$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 4,404


$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 1,221

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 369

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ β€�

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ β€�

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 1,590

Bourbon Orleans Hotel


$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 4,888


$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 934

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 1,063

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ β€�

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 3

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 2,000

Cavallo Point, The Lodge at the Golden Gate


$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 12,055


$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 290

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 1,457

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ β€�

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 94

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 1,841

Chicago Marriott Downtown Magnificent Mile


$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 31,913


$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 4,749

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 3,251

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 6

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ (397)

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 7,609

Chico Hot Springs Resort & Day Spa


$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 3,277


$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ (280)

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 425

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ β€�

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ β€�

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 145

Courtyard Denver Downtown


$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 2,439


$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 416

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 379

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ β€�

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ β€�

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 795

Courtyard New York Manhattan/Fifth Avenue


$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 6,449


$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 1,524

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 343

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 311

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 88

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 2,266

Courtyard New York Manhattan/Midtown East


$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 12,779


$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 4,747

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 533

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ β€�

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ β€�

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 5,280

Embassy Suites by Hilton Bethesda


$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 3,233


$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ (1,654)

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 577

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ β€�

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 1,449

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 372

Havana Cabana Key West


$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 2,756


$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 138

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 308

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ β€�

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ β€�

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 446

Henderson Beach Resort


$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 6,376


$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ (875)

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 1,106

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ β€�

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ β€�

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 231

Henderson Park Inn


$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 1,489


$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 167

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 278

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ β€�

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ β€�

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 445

Hilton Garden Inn New York/Times Square Central


$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 10,174


$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 3,411

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 664

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ β€�

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ β€�

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 4,075

Hotel Champlain Burlington


$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 5,988


$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 791

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 781

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ β€�

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ β€�

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 1,572

Hotel Clio


$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 7,332


$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 170

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 858

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 616

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 5

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 1,649

Hotel Emblem San Francisco


$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 975


$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ (464)

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 294

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ β€�

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ β€�

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ (170)

Kimpton Hotel Palomar Phoenix


$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 6,250


$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 910

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 507

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ β€�

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 193

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 1,610

Kimpton Shorebreak Fort Lauderdale Beach Resort


$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 2,459


$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ (143)

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 368

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ β€�

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ β€�

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 225

Kimpton Shorebreak Huntington Beach Resort


$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 4,409


$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 712

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 348

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ β€�

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ β€�

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 1,060

L'Auberge de Sedona


$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 9,624


$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 3,302

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 408

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ β€�

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ β€�

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 3,710

Lake Austin Spa Resort


$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 4,688


$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 474

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 719

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ β€�

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ β€�

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 1,193

Margaritaville Beach House Key West


$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 6,869


$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 1,443

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 769

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ β€�

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ β€�

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 2,212

Orchards Inn Sedona


$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 1,643


$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 181

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 96

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ β€�

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 42

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 319

Salt Lake City Marriott Downtown at City Creek


$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 8,534


$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 1,978

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 1,023

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ β€�

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 11

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 3,012

The Dagny Boston


$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 9,858


$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 2,627

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 1,545

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ β€�

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ β€�

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 4,172

The Gwen


$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 9,769


$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 642

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 746

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ β€�

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ β€�

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 1,388

The Hythe Vail


$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 9,971


$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 1,448

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 1,166

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ β€�

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ β€�

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 2,614

The Landing Lake Tahoe Resort & Spa


$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 2,476


$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 67

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 247

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ β€�

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ β€�

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 314

The Lindy Renaissance Charleston Hotel


$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 5,821


$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 2,321

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 363

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ β€�

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ β€�

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 2,684

The Lodge at Sonoma Resort


$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 7,484


$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 1,337

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 494

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ β€�

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ β€�

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 1,831

Tranquility Bay Beachfront Resort


$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 4,377


$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 620

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 463

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ β€�

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ β€�

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 1,083

Westin Boston Seaport District


$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 23,574


$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 2,718

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 2,439

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 1,935

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ (122)

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 6,970

Westin Fort Lauderdale Beach Resort


$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 15,396


$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 1,771

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 1,087

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ β€�

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ β€�

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 2,858

Westin San Diego Bayview


$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 8,646


$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 726

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 1,356

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ β€�

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ β€�

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 2,082

Westin Washington D.C. City Center


$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 7,691


$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 998

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 1,041

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ β€�

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ β€�

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 2,039

Worthington Renaissance Fort Worth Hotel


$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 12,180


$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 2,227

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 977

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 696

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ β€�

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 3,900

Total


$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 279,051


$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 41,477

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 29,046

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 3,564

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 1,366

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 75,453

Add: Prior Ownership Results (2)


$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 1,423


$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 361

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 126

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ β€�

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ β€�

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 487

Comparable Total


$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 280,474


$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 41,838

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 29,172

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 3,564

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 1,366

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 75,940



(1)

Includes non-cash expenses incurred by the hotels due to the straight lining of the rent from ground lease obligations and the non-cash amortization of intangible assets and liabilities.

(2)

Represents the pre-acquisition operating results of the AC Hotel Minneapolis Downtown acquired in 2024.

Μύ



Hotel Adjusted EBITDA Reconciliation - Fourth Quarter 2023





Net Income /
(Loss)

Plus:

Plus:

Plus:

Equals: Hotel



Total Revenues


Depreciation

Interest Expense

Adjustments (1)

Adjusted EBITDA

Atlanta Marriott Alpharetta


$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 4,012


$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 944

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 367

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ β€�

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ β€�

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 1,311

Bourbon Orleans Hotel


$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 4,630


$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 931

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 873

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ β€�

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 6

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 1,810

Cavallo Point, The Lodge at the Golden Gate


$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 11,228


$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 684

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 1,411

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ β€�

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 94

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 2,189

Chicago Marriott Downtown Magnificent Mile


$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 24,363


$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 1,974

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 3,515

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 6

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ (397)

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 5,098

Chico Hot Springs Resort & Day Spa


$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 2,789


$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ (434)

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 434

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ β€�

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 3

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 3

Courtyard Denver Downtown


$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 2,481


$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 547

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 374

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ β€�

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ β€�

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 921

Courtyard New York Manhattan/Fifth Avenue


$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 5,865


$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 903

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 356

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ β€�

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 253

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 1,512

Courtyard New York Manhattan/Midtown East


$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 11,883


$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 3,336

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 504

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 890

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ β€�

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 4,730

Embassy Suites by Hilton Bethesda


$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 3,326


$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ (1,775)

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 569

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ β€�

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 1,463

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 257

Havana Cabana Key West


$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 3,028


$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 338

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 306

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ β€�

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ β€�

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 644

Henderson Beach Resort


$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 6,862


$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ (807)

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 1,043

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ β€�

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ β€�

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 236

Henderson Park Inn


$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 1,679


$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 156

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 272

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ β€�

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ β€�

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 428

Hilton Garden Inn New York/Times Square Central


$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 9,327


$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 2,862

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 649

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ β€�

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ β€�

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 3,511

Hotel Champlain Burlington


$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 5,537


$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 860

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 596

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ β€�

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ β€�

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 1,456

Hotel Clio


$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 7,394


$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 330

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 845

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 632

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 5

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 1,812

Hotel Emblem San Francisco


$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 1,337


$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ (284)

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 295

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ β€�

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ β€�

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 11

Kimpton Hotel Palomar Phoenix


$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 7,089


$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 1,386

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 497

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ β€�

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 178

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 2,061

Kimpton Shorebreak Fort Lauderdale Beach Resort


$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 2,247


$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ (112)

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 351

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ β€�

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ β€�

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 239

Kimpton Shorebreak Huntington Beach Resort


$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 5,406


$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 1,410

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 380

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ β€�

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ β€�

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 1,790

L'Auberge de Sedona


$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 9,573


$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 3,120

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 375

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ β€�

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ β€�

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 3,495

Lake Austin Spa Resort


$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 4,969


$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 28

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 696

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ β€�

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ β€�

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 724

Margaritaville Beach House Key West


$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 6,876


$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 765

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 771

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ β€�

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ β€�

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 1,536

Orchards Inn Sedona


$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 2,266


$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 588

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 85

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ β€�

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 42

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 715

Salt Lake City Marriott Downtown at City Creek


$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 7,873


$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 1,831

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 917

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ β€�

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 11

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 2,759

The Dagny Boston


$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 8,537


$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 650

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 1,534

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ β€�

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ β€�

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 2,184

The Gwen


$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 9,281


$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 1,215

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 1,038

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ β€�

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ β€�

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 2,253

The Hythe Vail


$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 8,880


$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 832

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 1,189

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ β€�

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ β€�

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 2,021

The Landing Lake Tahoe Resort & Spa


$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 2,426


$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 221

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 222

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ β€�

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ β€�

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 443

The Lindy Renaissance Charleston Hotel


$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 5,583


$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 1,965

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 474

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ β€�

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ β€�

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 2,439

The Lodge at Sonoma Resort


$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 6,592


$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 518

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 633

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ β€�

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ β€�

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 1,151

Tranquility Bay Beachfront Resort


$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 5,064


$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 930

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 447

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ β€�

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ β€�

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 1,377

Westin Boston Seaport District


$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 22,327


$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 161

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 2,447

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 1,986

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ (122)

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 4,472

Westin Fort Lauderdale Beach Resort


$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 15,567


$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 1,799

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 1,022

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ β€�

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ β€�

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 2,821

Westin San Diego Bayview


$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 7,860


$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 998

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 856

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ β€�

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ β€�

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 1,854

Westin Washington D.C. City Center


$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 7,150


$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ (729)

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 1,026

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ β€�

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ β€�

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 297

Worthington Renaissance Fort Worth Hotel


$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 12,240


$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 2,523

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 938

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 714

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ β€�

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 4,175

Total


$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 263,547


$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 30,664

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 28,307

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 4,228

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 1,536

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 64,818

Add: Prior Ownership Results (2)


$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 1,881


$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 29

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 324

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ β€�

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ β€�

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 353

Comparable Total


$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 265,428


$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 30,693

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 28,631

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 4,228

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 1,536

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 65,171



(1)

Includes non-cash expenses incurred by the hotels due to the straight lining of the rent from ground lease obligations and the non-cash amortization of intangible assets and liabilities.

(2)

Amounts include the pre-acquisition operating results of the AC Minneapolis Downtown acquired in 2024.Μύ

Μύ



Hotel Adjusted EBITDA Reconciliation - Year to Date 2024



Total Revenues


Net Income /
(Loss)

Plus:
Depreciation

Plus:
Interest Expense

Plus:
Adjustments (1)

Equals: Hotel
Adjusted EBITDA




AC Hotel Minneapolis Downtown


$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 805


$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ (167)

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 198

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ β€�

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ β€�

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 31

Atlanta Marriott Alpharetta


$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 17,239


$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 4,738

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 1,474

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ β€�

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ β€�

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 6,212

Bourbon Orleans Hotel


$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 17,507


$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 2,484

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 3,757

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ β€�

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ (20)

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 6,221

Cavallo Point, The Lodge at the Golden Gate


$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 47,278


$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 4,573

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 5,781

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ β€�

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 375

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 10,729

Chicago Marriott Downtown Magnificent Mile


$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 119,101


$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 20,068

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 12,935

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 24

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ (1,588)

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 31,439

Chico Hot Springs Resort & Day Spa


$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 14,924


$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 340

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 1,626

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ β€�

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 4

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 1,970

Courtyard Denver Downtown


$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 11,346


$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 3,003

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 1,464

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ β€�

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ β€�

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 4,467

Courtyard New York Manhattan/Fifth Avenue


$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 19,840


$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 1,285

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 1,383

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 311

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 848

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 3,827

Courtyard New York Manhattan/Midtown East


$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 40,157


$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 9,377

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 2,087

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 2,086

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ β€�

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 13,550

Embassy Suites by Hilton Bethesda


$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 13,936


$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ (6,022)

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 2,366

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ β€�

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 5,817

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 2,161

Havana Cabana Key West


$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 12,065


$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 1,744

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 1,373

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ β€�

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ β€�

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 3,117

Henderson Beach Resort


$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 39,515


$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 3,821

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 4,355

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ β€�

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ β€�

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 8,176

Henderson Park Inn


$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 8,158


$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 2,196

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 1,096

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ β€�

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ β€�

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 3,292

Hilton Garden Inn New York/Times Square Central


$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 29,802


$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 5,712

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 2,617

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ β€�

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ β€�

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 8,329

Hotel Champlain Burlington


$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 22,829


$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 3,024

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 2,756

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ β€�

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ β€�

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 5,780

Hotel Clio


$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 29,267


$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 1,794

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 3,355

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 2,475

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 19

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 7,643

Hotel Emblem San Francisco


$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 5,217


$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ (1,085)

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 1,204

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ β€�

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ β€�

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 119

Kimpton Hotel Palomar Phoenix


$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 24,778


$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 3,701

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 1,978

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ β€�

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 777

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 6,456

Kimpton Shorebreak Fort Lauderdale Beach Resort


$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 9,565


$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ (719)

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 1,442

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ β€�

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ β€�

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 723

Kimpton Shorebreak Huntington Beach Resort


$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 21,406


$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 5,703

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 1,409

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ β€�

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ β€�

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 7,112

L'Auberge de Sedona


$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 32,751


$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 8,605

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 1,530

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ β€�

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ β€�

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 10,135

Lake Austin Spa Resort


$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 20,109


$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 2,024

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 2,802

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ β€�

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ β€�

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 4,826

Margaritaville Beach House Key West


$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 30,186


$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 8,830

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 2,833

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ β€�

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ β€�

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 11,663

Orchards Inn Sedona


$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 7,663


$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 1,228

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 360

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ β€�

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 168

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 1,756

Salt Lake City Marriott Downtown at City Creek


$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 33,838


$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 8,403

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 3,851

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ β€�

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 60

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 12,314

The Dagny Boston


$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 38,901


$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 7,905

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 6,263

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ β€�

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ β€�

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 14,168

The Gwen


$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 37,845


$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 4,364

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 3,221

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ β€�

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ β€�

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 7,585

The Hythe Vail


$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 49,642


$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 13,781

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 4,686

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ β€�

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ β€�

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 18,467

The Landing Lake Tahoe Resort & Spa


$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 13,673


$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 3,034

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 900

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ β€�

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ β€�

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 3,934

The Lindy Renaissance Charleston Hotel


$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 22,974


$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 8,716

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 1,506

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ β€�

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ β€�

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 10,222

The Lodge at Sonoma Resort


$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 29,510


$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 5,808

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 2,109

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ β€�

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ β€�

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 7,917

Tranquility Bay Beachfront Resort


$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 21,527


$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 4,668

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 1,825

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ β€�

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ β€�

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 6,493

Westin Boston Seaport District


$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 101,158


$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 10,286

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 9,776

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 7,777

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ (490)

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 27,349

Westin Fort Lauderdale Beach Resort


$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 67,634


$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 12,441

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 4,269

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ β€�

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ β€�

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 16,710

Westin San Diego Bayview


$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 35,484


$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 4,825

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 5,116

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ β€�

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ β€�

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 9,941

Westin Washington D.C. City Center


$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 32,521


$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 3,966

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 4,272

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ β€�

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ β€�

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 8,238

Worthington Renaissance Fort Worth Hotel


$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 49,732


$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 9,036

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 3,613

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 2,796

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ β€�

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 15,445

Total


$ΜύΜύΜύΜύΜύΜύΜύΜύ 1,129,883


$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 183,490

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 113,588

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 15,469

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 5,970

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 318,614

Add: Prior Ownership Results (2)


$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 9,257


$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 1,683

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 1,098

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ β€�

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ β€�

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 2,781

Comparable Total


$ΜύΜύΜύΜύΜύΜύΜύΜύ 1,139,140


$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 185,173

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 114,686

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 15,469

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 5,970

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 321,395



(1)

Includes non-cash expenses incurred by the hotels due to the straight lining of the rent from ground lease obligations and the non-cash amortization of intangible assets and liabilities.

(2)

Amounts include the pre-acquisition operating results of the AC Minneapolis Downtown acquired in 2024.Μύ

Μύ



Hotel Adjusted EBITDA Reconciliation - Year to Date 2023





Net Income
/(Loss)

Plus:

Plus:

Plus:

Equals: Hotel



Total Revenues


Depreciation

Interest Expense

Adjustments (1)

Adjusted EBITDA

Atlanta Marriott Alpharetta


$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 16,596


$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 4,024

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 1,458

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ β€�

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ β€�

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 5,482

Bourbon Orleans Hotel


$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 18,079


$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 3,762

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 3,425

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ β€�

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 25

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 7,212

Cavallo Point, The Lodge at the Golden Gate


$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 44,990


$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 5,131

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 5,609

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ β€�

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 375

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 11,115

Chicago Marriott Downtown Magnificent Mile


$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 103,932


$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 16,266

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 14,224

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 23

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ (1,589)

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 28,924

Chico Hot Springs Resort & Day Spa


$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 5,384


$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ (77)

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 629

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ β€�

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 3

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 555

Courtyard Denver Downtown


$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 11,696


$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 3,446

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 1,500

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ β€�

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ β€�

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 4,946

Courtyard New York Manhattan/Fifth Avenue


$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 19,536


$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 1,777

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 1,453

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ β€�

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 1,014

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 4,244

Courtyard New York Manhattan/Midtown East


$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 37,773


$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 6,687

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 2,028

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 3,561

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ β€�

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 12,276

Embassy Suites by Hilton Bethesda


$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 13,438


$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ (6,692)

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 2,282

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ β€�

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 5,873

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 1,463

Havana Cabana Key West


$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 12,884


$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 2,632

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 1,183

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ β€�

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ β€�

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 3,815

Henderson Beach Resort


$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 39,382


$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 3,685

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 4,091

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ β€�

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ β€�

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 7,776

Henderson Park Inn


$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 8,723


$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 2,365

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 1,057

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ β€�

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ β€�

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 3,422

Hilton Garden Inn New York/Times Square Central


$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 28,635


$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 6,184

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 2,578

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ β€�

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ β€�

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 8,762

Hotel Champlain Burlington


$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 23,437


$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 5,697

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 2,275

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ β€�

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ β€�

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 7,972

Hotel Clio


$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 27,208


$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 449

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 3,335

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 2,529

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 19

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 6,332

Hotel Emblem San Francisco


$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 6,561


$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ (1,024)

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 1,185

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ β€�

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ β€�

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 161

Kimpton Hotel Palomar Phoenix


$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 25,669


$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 4,110

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 2,143

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ β€�

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 716

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 6,969

Kimpton Shorebreak Fort Lauderdale Beach Resort


$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 8,414


$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ (863)

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 1,272

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ β€�

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ β€�

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 409

Kimpton Shorebreak Huntington Beach Resort


$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 21,986


$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 6,073

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 1,557

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ β€�

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ β€�

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 7,630

L'Auberge de Sedona


$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 31,140


$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 7,743

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 1,480

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ β€�

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ β€�

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 9,223

Lake Austin Spa Resort


$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 20,431


$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 1,865

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 2,612

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ β€�

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ β€�

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 4,477

Margaritaville Beach House Key West


$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 30,231


$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 8,583

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 3,137

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ β€�

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ β€�

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 11,720

Orchards Inn Sedona


$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 8,491


$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 1,694

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 358

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ β€�

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 168

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 2,220

Salt Lake City Marriott Downtown at City Creek


$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 31,106


$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 8,380

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 2,828

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ β€�

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 42

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 11,250

The Dagny Boston


$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 35,555


$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 4,324

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 5,729

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ β€�

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ β€�

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 10,053

The Gwen


$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 36,407


$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 4,726

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 4,201

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ β€�

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ β€�

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 8,927

The Hythe Vail


$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 46,607


$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 12,206

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 4,792

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ β€�

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ β€�

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 16,998

The Landing Lake Tahoe Resort & Spa


$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 12,500


$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 2,741

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 888

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ β€�

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ β€�

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 3,629

The Lindy Renaissance Charleston Hotel


$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 23,341


$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 8,548

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 1,892

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ β€�

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ β€�

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 10,440

The Lodge at Sonoma Resort


$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 30,403


$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 5,435

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 2,566

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ β€�

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ β€�

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 8,001

Tranquility Bay Beachfront Resort


$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 23,286


$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 5,331

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 1,762

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ β€�

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ β€�

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 7,093

Westin Boston Seaport District


$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 93,839


$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 5,431

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 9,870

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 7,955

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ (490)

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 22,766

Westin Fort Lauderdale Beach Resort


$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 65,632


$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 10,977

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 4,117

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ β€�

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ β€�

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 15,094

Westin San Diego Bayview


$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 34,984


$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 7,021

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 3,417

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ β€�

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ β€�

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 10,438

Westin Washington D.C. City Center


$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 29,631


$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 706

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 4,096

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ β€�

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ β€�

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 4,802

Worthington Renaissance Fort Worth Hotel


$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 46,960


$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 7,348

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 4,273

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 2,858

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ β€�

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 14,479

Total


$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 1,074,867


$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 166,691

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 111,302

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 16,926

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 6,156

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 301,156

Add: Prior Ownership Results (2)


$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 17,585


$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 2,247

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 1,821

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ β€�

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ β€�

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 4,068

Comparable Total


$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 1,092,452


$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 168,938

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 113,123

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 16,926

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 6,156

$ΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύΜύ 305,224



(1)

Includes non-cash expenses incurred by the hotels due to the straight lining of the rent from ground lease obligations and the non-cash amortization of intangible assets and liabilities.

(2)

Represents the pre-acquisition operating results of the AC Minneapolis Downtown acquired in 2024 and Chico Hot Springs Resort & Day Spa acquired in 2023.Μύ

Μύ

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SOURCE DiamondRock Hospitality Company

FAQ

What was DiamondRock Hospitality's (DRH) RevPAR performance in Q4 2024?

DRH's comparable RevPAR increased 5.4% to $200.46 in Q4 2024 compared to Q4 2023.

How much did DiamondRock (DRH) sell the Westin Washington D.C. City Center for?

DRH sold the Westin Washington D.C. City Center for $92.0 million on February 19, 2025.

What is DiamondRock's (DRH) Q1 2025 dividend payment?

DRH declared a quarterly dividend of $0.08 per share, payable on April 11, 2025.

How many shares did DiamondRock (DRH) repurchase in 2024?

DRH repurchased 3.1 million shares at an average price of $8.33 per share, totaling $26.0 million.

What was DiamondRock's (DRH) total liquidity at the end of 2024?

DRH ended 2024 with $584.3 million in total liquidity, including $81.4 million in unrestricted corporate cash.
Stock DRH logo
Diamondrock Hospitality Co

NYSE:DRH

DRH Rankings

#2230 Ranked by Market Cap
#937 Ranked by Dividends

DRH Latest News

Aug 7, 2025
DIAMONDROCK HOSPITALITY COMPANY REPORTS SECOND QUARTER 2025 RESULTS
May 28, 2025
DIAMONDROCK HOSPITALITY ANNOUNCES SECOND QUARTER 2025 EARNINGS RELEASE AND CONFERENCE CALL
May 1, 2025
DIAMONDROCK HOSPITALITY COMPANY REPORTS FIRST QUARTER 2025 RESULTS
Mar 21, 2025
DIAMONDROCK HOSPITALITY ANNOUNCES FIRST QUARTER 2025 EARNINGS RELEASE AND CONFERENCE CALL
Feb 19, 2025
DIAMONDROCK HOSPITALITY COMPANY COMPLETES SALE OF THE WESTIN WASHINGTON, D.C. CITY CENTER

DRH Latest SEC Filings

Aug 8, 2025
[10-Q] DiamondRock Hospitality Company Quarterly Earnings Report
Aug 7, 2025
[8-K] DiamondRock Hospitality Company Reports Material Event
Aug 4, 2025
[Form 4] DiamondRock Hospitality Company Insider Trading Activity
Jul 29, 2025
[SCHEDULE 13G/A] DiamondRock Hospitality Company SEC Filing
Jul 23, 2025
[8-K] DiamondRock Hospitality Company Reports Material Event

DRH Stock Data

1.62B
201.76M
1.38%
112.88%
7.96%
REIT - Hotel & Motel
AGΥζΘΛΉΩ·½ Estate Investment Trusts
United States
BETHESDA

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