Core Viewpoint - Saipem announced that it will not proceed with the acquisition of Deep Value Driller AS' drilling unit as the seller opted for another buyer, and the company is considering legal action to protect its interests [1] Company Summary - Saipem's planned acquisition of Deep Value Driller AS' drilling unit has fallen through due to the seller choosing a different buyer [1] - The company has stated that it reserves the right to take appropriate legal action to safeguard its interests and rights [1] - Saipem's financial guidance for 2026 remains unchanged despite the failed acquisition [1]

Reclaimed the top spot for industry operating margins by maintaining a laser focus on productivity and staffing, limiting GOP margin decline to 20 basis points despite flat RevPAR. Successfully mitigated labor cost pressures through a 13% headcount reduction year-over-year, allowing labor and benefit costs to decline slightly despite 4% wage increases. Executed a strategic portfolio 'trimming' by selling four older, lower-RevPAR hotels at a 6% cap rate to reduce debt and fund share repurchases. Prio ...

Financial Data and Key Metrics Changes - For Q4 2025, the company reported a GOP margin of 40.2% and a hotel EBITDA margin of 33.2%, with GOP margins only down 30 basis points despite a 1.8% decline in RevPAR [28][23] - The company generated adjusted EBITDA of $20.2 million and adjusted FFO of $0.21 per share for Q4 2025 [28][30] - The overall GOP margin decline for the year was limited to 40 basis points, with labor and benefits costs increasing only 1.2% on a per occupied room basis [24][28] Business Line Data and Key Metrics Changes - The company sold four older, lower RevPAR hotels for a total of $71.4 million, which helped reduce net debt by $70 million and leverage ratio to 20% [8][29] - RevPAR for the company's predominantly leisure hotels grew by 50 basis points in the quarter, while RevPAR for Silicon Valley hotels grew only 1% [16][13] - The top five RevPAR hotels in Q4 included Residence Inn in White Plains at $200 and Residence Inn in Fort Lauderdale at $186 [21] Market Data and Key Metrics Changes - In Silicon Valley, RevPAR was up 1% for 2026, with a strong demand from major companies like Google and Apple [13][15] - San Diego's RevPAR declined by 8% due to a retraction from a strong convention calendar in 2024 [17] - Los Angeles saw a 4% increase in RevPAR, benefiting from fire-related business, while the D.C. area hotels are expected to have easier comps in 2026 [18][27] Company Strategy and Development Direction - The company plans to continue repurchasing shares and has already repurchased approximately 1.8 million shares under a $25 million plan [6][10] - The company aims to invest in markets benefiting from increased business investments, particularly in the Central and Southeastern U.S. [12] - A new hotel development in Portland, Maine, is expected to commence soon, with an opening planned before summer 2028 [12] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in long-term industry growth, citing a favorable supply-demand equation and healthy GDP growth [9][10] - Wage pressures are expected to moderate, with a projected increase of only 2% for the second half of 2025 [5][10] - The company anticipates a conservative outlook for RevPAR in 2026, with expectations of low single-digit declines in Q1 followed by growth in subsequent quarters [30][32] Other Important Information - The company completed the largest financing in its history, totaling $500 million, while reducing overall borrowing costs [8] - The company ranked 29th out of 95 listed companies in the GRESB Sustainability Benchmark [8] Q&A Session Summary Question: Are there plans for further asset sales in 2026? - Management indicated there may be one or two more opportunistic sales, following the six hotels sold in the last 18 months [35] Question: What are the expectations for acquisitions and leverage? - Management is comfortable with historical leverage levels and sees sellers becoming more realistic about pricing, which may lead to potential acquisitions [36][37] Question: What expense pressures are expected in 2026? - Management noted potential utility pressures early in 2026 but indicated that overall operating expenses are stable [39] Question: How much room is left for productivity improvements? - Management stated that headcount is down 13% year-over-year, and they will continue to focus on controlling wages and headcount [43][44] Question: What is the impact of the World Cup on business? - Management is cautiously optimistic about the World Cup's impact but remains conservative in expectations due to uncertainties in demand [48][50] Question: What is the expected RevPAR cadence for 2026? - Management expects low single-digit declines in Q1, followed by growth in the last three quarters of the year, aided by easier comps [55][56]

Chatham Lodging Trust (NYSE:CLDT) Q4 2025 Earnings call February 25, 2026 10:30 AM ET Company ParticipantsAri Klein - Director of Equity ResearchChris Daly - PresidentDennis M. Craven - EVP and COOJeffrey H. Fisher - Chairman, President, and CEOJeremy Wegner - SVP and CFOConference Call ParticipantsGaurav Mehta - Managing Director and Senior Equity Research AnalystTyler Batory - Executive Director and Senior AnalystOperatorGood morning, ladies and gentlemen, welcome to the Chatham Lodging Trust Fourth Quart ...

Chatham Lodging Trust (NYSE:CLDT) Q4 2025 Earnings call February 25, 2026 10:30 AM ET Speaker6Good morning, ladies and gentlemen, welcome to the Chatham Lodging Trust Fourth Quarter 2025 Financial Results Conference Call. At this time, all lines are in a listen-only mode. Following the presentation, we will conduct a question-and-answer session. If at any time during this call require immediate assistance, please press star zero for the operator. I would now like to turn the conference call over to Chris Da ...

Longleaf Partners, managed by Southeastern Asset Management, released its “Small-Cap Fund” fourth-quarter 2025 investor letter. A copy of the letter can be downloaded here. Longleaf experienced several environments throughout its experience in small-cap investing. This year, the underlying developments in the Fund’s holdings were more promising than the actual stock price returns when compared to the target of inflation plus 10% and the unusual performance of the Russell 2000. In Q4 2025, the Fund returned ...

DIAMONDROCK HOSPITALITY ANNOUNCES RETIREMENT OF CHAIRMAN WILLIAM W. MCCARTEN [Accessibility Statement] Skip NavigationRetirement Culminates a Distinguished 47 Year Career in HospitalityBETHESDA, Md., Feb. 25, 2026 /PRNewswire/ -- DiamondRock Hospitality Company (Nasdaq: DRH, the "Company") announced that Chairman William W. McCarten will retire from the Company's Board of Directors (the "Board") at the end of his current term, effective at the adjournment of the 2026 Annual Meeting of Shareholders on April ...

25 February 2026 | 6:28AM HKT Equity Research CHINA TRAVEL & LEISURE CNY wrap-up: Healthy travel data led by hotels and airlines. Hainan DFS and Macau GGR slightly disappointing On the back of improving consumption sentiment benefiting from the buoyant stock market in recent months, coupled with a longer holiday period (9 vs. 8 days last year), we believe investors generally anticipated healthy travel demand over these past Chinese New Year holidays on Feb 15-23. The data we gathered from government sources ...

I have been working in the logistics sector for almost two decades. I have been into stock investing and macroeconomic analysis for almost a decade. Currently, I focus on ASEAN and NYSE/NASDAQ Stocks, particularly in banks, telco, logistics, and hotels. Since 2014, I have been trading on the PH stock market. I focus on banking, telco, and retail sectors. A colleague encouraged me to engage in the stock market as part of my portfolio diversification instead of putting all my savings in banks and properties. ...

The company prioritized capital allocation toward share repurchases, buying back 9.2% of outstanding shares in 2025 at what management considers a meaningful discount to Net Asset Value.Market-specific dynamics showed strength in Scottsdale, Orlando, and Northern California, while Texas and San Diego faced headwinds from softer citywide convention calendars and difficult year-over-year comparisons.Operational efficiency improved through corporate initiatives targeting real estate taxes, insurance, and infra ...