Pebblebrook Hotel Trust (PEB) Q1 2025 Earnings Call May 02, 2025 09:00 AM ET Speaker0 Greetings, and welcome to the Pebblebrook Hotel Trust First Quarter Earnings Conference Call. At this time, all participants are in a listen only mode. A brief question and answer session will follow the formal presentation. As a reminder, this conference is being recorded. It is now my pleasure to introduce your host, Ray Martz, Co President and Chief Financial Officer. Thank you, sir. You may begin. Speaker1 Thank you, C ...

May 2025 Investor Presentation 1 hotel san francisco INVESTOR PRESENTATION MAY 2025 Forward-Looking Statements This presentation contains forward-looking statements that are subject to risks and uncertainties. These forward-looking statements include information about possible or assumed future results of Pebblebrook Hotel Trust's (the "Company" or "Pebblebrook") business, financial condition, liquidity, results of operations, plans and objectives. These forward-looking statements are based on the Company's ...

Core Insights - Pebblebrook Hotel (PEB) reported revenue of $320.27 million for Q1 2025, a 2% year-over-year increase, with an EPS of $0.16 compared to -$0.32 a year ago, indicating a significant turnaround [1] - The revenue exceeded the Zacks Consensus Estimate by 0.75%, while the EPS surprise was 23.08% above the consensus estimate of $0.13 [1] Financial Performance Metrics - Same-Property RevPAR growth rate was 0%, below the average estimate of 2.2% from three analysts [4] - Food and beverage revenue reached $86.31 million, surpassing the average estimate of $83.15 million, reflecting a year-over-year increase of 6.4% [4] - Other operating revenue was $36.95 million, slightly above the estimated $36.15 million, marking a 5.9% year-over-year increase [4] - Room revenue was reported at $197.01 million, slightly below the estimated $198.58 million, showing a 0.6% decline compared to the previous year [4] - Net Earnings Per Share (Diluted) was -$0.37, slightly worse than the estimated -$0.36 [4] Stock Performance - Pebblebrook Hotel's shares have returned -13.7% over the past month, contrasting with the Zacks S&P 500 composite's -0.7% change [3] - The stock currently holds a Zacks Rank 3 (Hold), suggesting it may perform in line with the broader market in the near term [3]

Core Insights - DiamondRock Hospitality (DRH) reported revenue of $254.85 million for the quarter ended March 2025, reflecting a decrease of 0.6% year-over-year and a revenue surprise of -2.01% compared to the Zacks Consensus Estimate of $260.08 million [1] - The company's EPS was $0.19, significantly higher than the $0.03 reported in the same quarter last year, resulting in an EPS surprise of +11.76% against the consensus estimate of $0.17 [1] Revenue Breakdown - Other Revenues amounted to $24.89 million, slightly exceeding the average estimate of $24.80 million, marking a year-over-year increase of +1.5% [4] - Food and Beverage Revenues were reported at $66.84 million, below the average estimate of $69.01 million, indicating a year-over-year decline of -2.3% [4] - Room Revenues totaled $163.12 million, also falling short of the average estimate of $165.03 million, with a minimal year-over-year decrease of -0.2% [4] Stock Performance - Over the past month, shares of DiamondRock Hospitality have declined by -6.9%, contrasting with the Zacks S&P 500 composite's decrease of -0.7% [3] - The stock currently holds a Zacks Rank 4 (Sell), suggesting potential underperformance relative to the broader market in the near term [3]

Hyatt Hotels Corporation (H) has delivered better-than-expected first-quarter 2025 results, with adjusted earnings and revenues topping the Zacks Consensus Estimate. On a year-over-year basis, the top line grew while the bottom line tumbled.The quarter’s results reflect the continued strong demand trends across the company’s diversified brand offerings globally. Its focus on an asset-light business model and the pipeline momentum positions it to adapt to the uncertain market conditions and ensure improvemen ...

Financial Data and Key Metrics Changes - Adjusted EBITDAre for the first quarter was $514 million, a 5.1% increase year-over-year, while adjusted FFO per share was $0.64, up 4.9% from last year [6] - Comparable hotel total RevPAR improved by 5.8% compared to the previous year, with a 7% increase driven by strong rate growth [6][7] - Comparable hotel EBITDA margin improved by 30 basis points year-over-year to 31.8% as revenue growth outpaced expenses [6][27] Business Line Data and Key Metrics Changes - Transient RevPAR grew by 6%, particularly strong in resorts due to a late Easter, with Maui's transient rooms sold up approximately 70% year-over-year [8][9] - Group RevPAR increased by 7% year-over-year, driven by special events and strong corporate group bookings [10][25] - Food and beverage RevPAR grew by 5%, with solid growth in both banquet and outlet revenues [11][20] Market Data and Key Metrics Changes - Strong performance noted in Washington DC, New York, New Orleans, Los Angeles, and Maui, with Maui showing a 16% RevPAR growth [9][10] - Business transient RevPAR was up 2%, driven by rate growth, while group room nights were down slightly compared to the previous year [10][25] - Total group revenue pace increased by 3.3% compared to the same time last year [10][26] Company Strategy and Development Direction - The company is focused on capital allocation, including share repurchases and property renovations, with $585 million remaining under the share repurchase program [14][15] - Continued investment in portfolio reinvestment, with comprehensive renovations completed at several properties [14][16] - The company maintains a cautious outlook for 2025, with guidance reflecting potential economic uncertainties [18][28] Management's Comments on Operating Environment and Future Outlook - Management remains cautious due to heightened macroeconomic uncertainty, maintaining comparable hotel RevPAR guidance with slight reductions to total RevPAR [18][28] - The company is well-positioned to weather economic fluctuations, supported by a strong balance sheet and diversified portfolio [19][31] - Future guidance includes expectations for a $32 million to $37 million change in adjusted EBITDAre for every 100 basis point change in RevPAR [29][30] Other Important Information - The company expects to complete the mid-rise condominium building at the Four Seasons Resort Orlando by the fourth quarter of this year [15] - Total property damage and remediation costs at the Don Cesar are estimated between $100 million and $110 million, with $10 million collected in business interruption proceeds [13][30] - The company has a weighted average maturity of five years at a 4.7% interest rate, with $2.2 billion in total available liquidity [31] Q&A Session Summary Question: Recent trends in April from a demand standpoint - Management noted that top markets are performing well, with international inbound travel affecting only a small portion of total room nights [36] Question: Outlook for Maui for the remainder of the year - Maui's EBITDA projection has improved, with expectations for continued improvement throughout the year [46] Question: Opportunities for acquisitions in the current market - Management expressed uncertainty about the transaction market but remains opportunistic in capital deployment [51][54] Question: Consumer environment and off-peak periods - No significant changes in trends were observed, with consistent performance across weekdays and weekends [64] Question: CapEx budget risks due to tariffs - Management is maintaining CapEx guidance and does not anticipate significant impacts from tariffs at this time [72][73] Question: Impact of administration policies on labor supply - No pressure on labor supply has been observed, with a strong recovery in staffing levels post-COVID [85][86] Question: Performance of the Rich Carlton, Turtle Bay - Turtle Bay's RevPAR was up 13% in the quarter, with positive performance expected [100]

Core Insights - Hyatt Hotels reported revenue of $1.72 billion for the quarter ended March 2025, reflecting a year-over-year increase of 0.2% and a surprise of +0.93% over the Zacks Consensus Estimate of $1.7 billion [1] - The company's EPS was $0.46, down from $0.71 in the same quarter last year, with an EPS surprise of +53.33% compared to the consensus estimate of $0.30 [1] Financial Performance Metrics - Average Daily Rate (ADR) for comparable systemwide hotels was $201.91, slightly below the estimated $204.35 [4] - Occupancy rate for comparable systemwide hotels was 66.6%, slightly above the average estimate of 66.4% [4] - Revenue per Available Room (RevPAR) for comparable systemwide hotels was $134.55, below the estimated $136.52 [4] - Total owned and leased hotels numbered 10,184, exceeding the average estimate of 10,050 [4] - Distribution revenues were reported at $315 million, slightly below the average estimate of $315.60 million, representing a year-over-year decline of -1.3% [4] - Other revenues were reported at $11 million, significantly lower than the estimated $20.88 million, marking a -68.6% change year-over-year [4] - Revenues from owned and leased hotels were $219 million, compared to the estimated $211.72 million, reflecting a -29.1% change year-over-year [4] - Net fees were reported at $287 million, exceeding the average estimate of $280.53 million [4] - Revenues for reimbursed costs totaled $886 million, slightly below the average estimate of $894.75 million [4] - Contra revenues were reported at -$20 million, worse than the average estimate of -$13.50 million [4] - Gross fees totaled $307 million, surpassing the average estimate of $292.05 million [4] - Incentive management fees were reported at $76 million, exceeding the average estimate of $68.45 million [4] Stock Performance - Shares of Hyatt Hotels have returned -9.7% over the past month, compared to a -0.7% change in the Zacks S&P 500 composite [3] - The stock currently holds a Zacks Rank 3 (Hold), indicating potential performance in line with the broader market in the near term [3]

Host Hotels & Resorts (HST) Q1 2025 Earnings Call May 01, 2025 11:00 AM ET Speaker0 Good morning, and welcome to the Host Hotels and Resorts First Quarter twenty twenty five Earnings Conference Call. Today's call is being recorded. At this time, I would like to turn the call over to Jamie Marcus, Senior Vice President of Investor Relations. Please go ahead. Thank you, and good morning, everyone. Speaker1 Before we begin, please note that many of the comments made today are considered to be forward looking s ...

Core Insights - Hilton Grand Vacations (HGV) reported revenue of $1.15 billion for the quarter ended March 2025, a decrease of 0.7% year-over-year, with EPS at $0.09 compared to $0.95 in the same quarter last year [1] - The revenue fell short of the Zacks Consensus Estimate of $1.24 billion, resulting in a surprise of -7.47%, while the EPS surprise was -81.63% against a consensus estimate of $0.49 [1] Revenue Breakdown - Resort and club management revenues were $183 million, exceeding the estimated $173.93 million [4] - Cost reimbursements generated $133 million, slightly above the average estimate of $129.67 million, reflecting a year-over-year increase of 9% [4] - Rental and ancillary services revenues reached $187 million, compared to the estimated $186.37 million, marking a year-over-year growth of 3.3% [4] - Sales, marketing, brand, and other fees totaled $142 million, in line with the estimate of $142.07 million, but showed a decline of 2.1% year-over-year [4] - Financing revenues were $125 million, surpassing the estimate of $123.54 million, with a significant year-over-year increase of 20.2% [4] - Sales of VOIs, net, amounted to $378 million, falling short of the estimated $476.78 million, representing a year-over-year decline of 13.7% [4] Stock Performance - Shares of Hilton Grand Vacations have decreased by 11.2% over the past month, contrasting with the Zacks S&P 500 composite's decline of only 0.7% [3] - The stock currently holds a Zacks Rank 3 (Hold), suggesting it may perform in line with the broader market in the near term [3]

Core Viewpoint - Analysts forecast that Marriott International (MAR) will report quarterly earnings of $2.27 per share, reflecting a year-over-year increase of 6.6%, with anticipated revenues of $6.27 billion, marking a 5% increase compared to the previous year [1]. Earnings Estimates - The consensus EPS estimate has been revised 0.7% lower over the last 30 days, indicating a reevaluation of initial estimates by analysts [2]. - Changes in earnings estimates are crucial for predicting investor reactions, as empirical research shows a strong correlation between earnings estimate revisions and short-term stock performance [3]. Revenue Projections - Analysts estimate 'Revenues- Gross fee revenues' will reach $1.25 billion, a 3.6% increase from the year-ago quarter [5]. - 'Revenues- Net fee revenues' are projected at $1.23 billion, indicating a 3.4% increase from the prior-year quarter [5]. - 'Revenues- Owned, leased, and other revenue' is expected to be $363.16 million, reflecting a 1.7% increase from the previous year [6]. - 'Revenues- Franchise fees' are forecasted at $727.37 million, showing a 5.7% increase from the prior-year quarter [6]. Room Metrics - 'Rooms - Owned/Leased' is projected to reach 14,214, up from 13,111 in the same quarter last year [6]. - 'Rooms - Managed' is expected to be 587,915, compared to 566,944 a year ago [7]. - 'Rooms - Franchised' is estimated at 1,102,261, an increase from 1,049,173 in the previous year [7]. - 'Rooms - Total' is projected to reach 1,723,831, compared to 1,643,172 a year ago [8]. - 'Rooms - Franchised - Total International' is estimated at 270,179, up from 236,467 in the previous year [9]. Market Performance - Over the past month, Marriott shares have recorded returns of -1.6%, compared to the Zacks S&P 500 composite's -0.7% change [9].