Total Revenue Q1 2024

Increased from $311.5M in Q1 2023 to $329.5M in Q1 2024 " " "

Acquisitions and strong demand trends (leisure, small group, and corporate) drove higher revenues, despite challenges from an unfavorable Super Bowl comparison and Easter holiday timing that affected the base. " " "

Total Revenue Q1 2025

Decreased by 0.4% from $329.5M in Q1 2024 to $327.7M in Q1 2025 " " "

Extreme winter weather, reduced government travel, and heightened macroeconomic uncertainty led to a slight revenue dip, with occupancy declining by 1.5% and RevPAR by 0.5%, though partially offset by a 1.0% increase in ADR. " " "

Business Segment Performance Q1 2024

Adjusted Hotel EBITDA increased by 6% and MFFO increased by 5.4%, while the EBITDA margin fell by 160 basis points " " "

Strong segment performance was supported by strategic acquisitions (e.g., AC Hotel Washington DC Convention Center) and robust leisure demand, but margin compression occurred due to challenging year-over-year comparisons influenced by unpredictable event timing and a prior boost from the Omicron recovery period. " " " "

Business Segment Performance Q1 2025

Mixed results; strong group and negotiated segments but weaker performance in the government segment " " "

A significant pullback in government travel, exacerbated by macroeconomic pressures and weather disruptions, contrasted with resilient group/negotiated business, illustrating a shifting mix in the portfolio. " " "

YoY Comparisons Q1 2025

Occupancy down by 1.5%, RevPAR down by 0.5%, Operating Income decreased 29%, and Adjusted EBITDA decreased 5.4% " " " "

The decline in key performance measures in Q1 2025 reflects the cumulative impact of external factors (severe weather, government travel reductions, macroeconomic uncertainty) and calendar timing effects (Easter holiday shift), along with portfolio adjustments from prior acquisitions and disposals that altered the base of comparison. " " " "