NASHVILLE, Tenn., May 01, 2025 (GLOBE NEWSWIRE) -- Ryman Hospitality Properties, Inc. (NYSE: RHP), a lodging real estate investment trust (“REIT”) specializing in group-oriented, destination hotel assets in urban and resort markets, today reported financial results for the three months ended March 31, 2025. First Quarter 2025 Highlights and Recent Developments: The Company reported first quarter records for consolidated revenue of $587.3 million, Hospitality segment revenue of $497.7 million and Entertainme ...

Earnings Release Supplement First Quarter 2025 (UNAUDITED) April 30, 2025 1 Table of Contents | Section I | Forward-Looking Statements and Non-GAAP Financial Measure Disclosures | | --- | --- | | Section II | Corporate Financial Schedules | | Section III | Operating & Property-Level Schedules | | Section IV | Capitalization and Debt Schedules | | Section V | Asset Listing | 2 Forward-Looking Statements We make forward-looking statements in this presentation that are subject to risks and uncertainties. These ...

Financial Data and Key Metrics Changes - The company reported a strong quarter with notable financial results, including a $200 million EBITDA enhancement plan in motion, with expectations to implement over $150 million in 2025 [10][24] - BetMGM showed a significant turnaround with a 34% increase in net revenue and an EBITDA of $22 million, representing an improvement of over $150 million from the prior year [14][21] - The company ended the quarter with a solid balance sheet and ample liquidity, having repurchased nearly 15 million shares for about $494 million in the first quarter [24][25] Business Line Data and Key Metrics Changes - MGM China maintained a mid-teen market share at 15.7%, with new villas and suites being added to support premium gaming demand [13] - The regional properties experienced a modest decline in revenue due to inclement weather, but ended strong with record slot wins in March [12][20] - MGM Digital made progress with the launch in Brazil, showing early traction with healthy retention rates [15][22] Market Data and Key Metrics Changes - Las Vegas operations remained steady, with favorable room supply dynamics and record airline capacity scheduled at Harry Reid Airport [11] - April was projected to be a record hotel month for Las Vegas Strip operations, with strong demand evidenced by hotel occupancy and rates [12][30] - The company noted a 3% increase in revenue per occupied room when excluding the Super Bowl impact [96][97] Company Strategy and Development Direction - The company is focused on leveraging its luxury offerings and strategic partnerships, particularly with Marriott, to drive growth and customer engagement [9][10] - MGM is well-positioned for future opportunities, including projects in Japan and potential developments in New York [16][60] - The company is committed to continuous improvement and cost management, with a focus on enhancing EBITDA through operational efficiencies [23][24] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the resilience of the Las Vegas market and the company's ability to adapt to economic conditions [10][25] - The outlook for the digital business remains positive, with expectations for continued growth and profitability [17][22] - Management highlighted the importance of maintaining a strong cash flow generation to capitalize on market opportunities [24][110] Other Important Information - The company increased its dividend payout policy for MGM China to 50% of distributable profits, up from 35% [21] - A charitable donation of $9 million was made during the quarter for a City of Las Vegas initiative, slightly elevating corporate expenses [23] Q&A Session Summary Question: Can you unpack the April performance in Las Vegas regarding major KPIs? - Management noted that April is shaping up to be a record month, with strong hotel occupancy and group performance, aided by the Marriott partnership [30][31] Question: How is the higher-end business performing amid soft inbound from Canada? - The higher-end segment remains unaffected, with strong performance driven by Marriott blocks and casino business [35][36] Question: Are payroll and labor increases related to the $150 million cost management initiative? - Yes, the company has managed to control labor expenses, reflecting ongoing efforts to manage costs [40][41] Question: What is the status of the Japan project and its cost variability? - The project is fully designed, and while there may be some variability in input costs, the scope is not expected to change [46][47] Question: How does the company view share repurchases in light of upcoming capital expenditures? - The company may reduce the pace of share repurchases to reserve capital for investments in Japan and New York, but remains open to letting leverage increase slightly [77][78] Question: What insights can be shared regarding Macau's performance post-tariff implementation? - There have been no material impacts observed, and the business remains stable with strong bookings [81][82] Question: How might higher tariffs affect domestic development pipelines? - The impact on the development pipeline is expected to be limited, with most purchases already made for the year [86] Question: What are the next steps for the Dubai hotel project? - The project is on track for completion in Q3 2027, with ongoing discussions about potential gaming opportunities [90][91]

Comparable Hotel RevPAR Growth of 7.0% and Comparable Hotel Total RevPAR Growth of 5.8%BETHESDA, Md., April 30, 2025 (GLOBE NEWSWIRE) -- Host Hotels & Resorts, Inc. (NASDAQ: HST) (the “Company”), the nation’s largest lodging real estate investment trust (“REIT”), today announced results for first quarter of 2025. OPERATING RESULTS(unaudited, in millions, except per share and hotel statistics) Quarter ended March 31, 2025 2024 Percent Change Revenues$1,594 $1,471<td style="max-width:1%; width:1%; min-wi ...

Core Insights - The company reported a 1.5% increase in same-store RevPAR for Q1 2025, indicating effective expense management despite low revenue growth [1][5] - A $275 million term loan was secured to refinance convertible notes maturing in February 2026, eliminating debt maturity risk until 2027 [1][13] - The Board of Directors authorized a $50 million share repurchase program to return capital to shareholders [2][12] Financial Performance - The net loss attributable to common stockholders was $4.7 million, or $0.04 per diluted share, compared to a net loss of $2.1 million, or $0.02 per diluted share in Q1 2024 [4][28] - Total revenues decreased to $184.5 million from $188.1 million year-over-year [4][35] - Adjusted EBITDAre fell to $45.0 million from $48.8 million in the same period last year [5][33] Operational Metrics - Pro forma RevPAR increased by 0.9% to $124.99, with pro forma ADR rising by 0.8% to $173.06 and occupancy increasing by 0.1% to 72.2% [5][44] - Same-store RevPAR grew by 1.5% to $126.26, with same-store ADR up by 0.7% to $174.03 and occupancy increasing by 0.8% to 72.5% [5][44] - Hotel EBITDA margin contracted to 35.6%, down from 36.0% in the prior year [4][5] Capital Structure and Liquidity - The company has outstanding debt of $1.1 billion with a weighted average interest rate of 4.63%, and 71% of this debt is at a fixed rate [16] - Total liquidity available is approximately $310 million, including unrestricted cash and cash equivalents [16] - The average length to maturity of the company's debt will increase to nearly four years following the refinancing [15] Market Outlook - Despite near-term softness in lodging demand due to macroeconomic volatility, the company remains confident in long-term fundamentals and expects a multi-year growth cycle in the lodging industry [2][18] - Capital expenditure expectations for 2025 have been reduced to $60 million to $70 million [18]

Financial Data and Key Metrics Changes - Total revenues for the first quarter were $144 million, with a net loss of $9.8 million or $0.72 per diluted share [12] - Adjusted EBITDA was $12.7 million, with negative operating cash flow of $8.4 million [12] - The decrease in adjusted EBITDA compared to the previous year was primarily due to reduced build rooms in Canadian lodges [12] Business Line Data and Key Metrics Changes - Australian segment revenues increased by 13% year over year to $103.6 million, with adjusted EBITDA remaining relatively flat at $20.5 million [13] - Canadian segment revenues decreased to $40.4 million from $67.2 million in the previous year, with adjusted EBITDA at negative $200,000 [15] Market Data and Key Metrics Changes - In Australia, revenues increased by 18% on a constant currency basis, driven by increased activity in integrated services [8] - Canadian build rooms decreased to 359,000 from 610,000 in the previous year due to customer spending reductions [15] Company Strategy and Development Direction - The company has increased its share repurchase authorization from 10% to 20% of total shares outstanding and suspended the quarterly dividend to enhance long-term shareholder value [6][20] - The focus is on optimizing the cost structure in Canada and enhancing operational efficiency [9][10] Management's Comments on Operating Environment and Future Outlook - Management noted that the Canadian division is facing economic and political uncertainty, impacting performance [25] - The company expects to continue generating free cash flow, despite challenges, and remains confident in its ability to execute the updated capital allocation framework [26] Other Important Information - The company plans to allocate 100% of annual free cash flow to share repurchases until the expanded authorization is completed [6] - Capital expenditures for the first quarter were $5.3 million, down from $5.6 million in the previous year [17] Q&A Session Summary Question: What is the rationale behind the changes to the dividend and capital allocation? - Management indicated that the decision was based on extensive shareholder engagement and the realization that the dividend was not being valued, thus shifting capital to share repurchases made more sense [29] Question: What are the benefits of the joint venture with the Six Nations in Canada? - The joint venture is crucial for winning work in Canada, as First Nation relationships are often necessary for bidding on projects [31] Question: Are there any larger infrastructure projects expected to generate revenue in the next few years? - Potential opportunities include additional pipeline projects and carbon sequestration initiatives in Alberta [37] Question: How is the company addressing cost-cutting measures? - The consulting firm is reviewing the North American cost structure to optimize expenses in response to the changing outlook for the Canadian business [38] Question: What is the outlook for free cash flow in the coming years? - Management remains optimistic that free cash flow will improve in the future, despite current guidance being lower due to market conditions [56]

Financial Data and Key Metrics Changes - Total revenues for Q1 2025 were $144 million, with a net loss of $9.8 million or $0.72 per diluted share, and adjusted EBITDA of $12.7 million, reflecting a decrease compared to the previous year [11][12] - The company reported negative operating cash flow of $8.4 million, primarily due to seasonal impacts on working capital [11] - Civeo's net debt increased by $21 million to $59 million as of March 31, 2025, with a net leverage ratio of 0.8 times [15] Business Line Data and Key Metrics Changes - Australian segment revenues increased by 13% year-over-year to $103.6 million, with adjusted EBITDA remaining relatively flat at $20.5 million due to rising power and staffing costs [12][13] - Canadian segment revenues decreased significantly to $40.4 million from $67.2 million in the previous year, with adjusted EBITDA at negative $200,000, driven by reduced customer spending and the wind down of LNG-related activities [14] Market Data and Key Metrics Changes - In Australia, strong occupancy levels were reported, with 625,000 build rooms, a modest increase from the previous year [13] - In Canada, billed rooms totaled 359,000, down from 610,000 in the first quarter of 2024, reflecting ongoing economic and political uncertainties [14] Company Strategy and Development Direction - The company has revised its capital allocation strategy, increasing share repurchase authorization from 10% to 20% of total shares outstanding and suspending the quarterly dividend to enhance long-term shareholder value [4][19] - Civeo plans to allocate 100% of its annual free cash flow to share repurchases until the expanded authorization is completed [4][20] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's ability to generate free cash flow, despite macroeconomic challenges, and emphasized a focus on operational efficiency and cost structure optimization [8][24] - The company lowered its full-year 2025 revenue and adjusted EBITDA guidance to $620 million to $650 million and $75 million to $85 million, respectively, reflecting a conservative outlook primarily influenced by Canadian market conditions [21][41] Other Important Information - Civeo is in the process of acquiring DeBoer Villages in the Australian Bowen Basin, expected to close in Q2 2025, which is anticipated to be immediately accretive to operating cash flow [6][21] - The company has engaged a consulting firm to review its North American cost structure as part of its commitment to enhance shareholder value [8][36] Q&A Session Summary Question: What is the rationale behind the change in the capital allocation framework? - Management indicated that the decision to shift from dividends to share repurchases was based on extensive shareholder engagement and the realization that the dividend was not being valued by the market [27] Question: What are the benefits of the joint venture with the Six Nations in Canada? - The joint venture is crucial for winning work in Canada, as First Nation relationships are often necessary for bidding on projects, enhancing Civeo's competitive position [29] Question: Are there any larger infrastructure projects expected to generate revenue in the next few years? - Management mentioned potential pipeline projects and carbon sequestration initiatives in Alberta as opportunities for revenue generation [34] Question: How is the company addressing cost-cutting measures? - The consulting firm is helping to address the cost structure primarily in Canada, but the review will encompass all North American operations [36] Question: What is the outlook for free cash flow in 2025? - Management views the $20 million to $30 million free cash flow guidance as potentially low due to market conditions, with expectations for improvement in future years [51][56]

Financial Data and Key Metrics Changes - Consolidated net revenues for Q1 2025 were $2.8 billion, an increase of 2% year-over-year [6] - Total adjusted EBITDAR for the quarter was $884 million, up 4% year-over-year [6] - Same store adjusted EBITDAR in Las Vegas was $433 million, essentially flat compared to the prior year [6][8] - Las Vegas EBITDA margins improved to 43.2%, up 50 basis points year-over-year [8] Business Line Data and Key Metrics Changes - The Regional segment delivered adjusted EBITDAR of $440 million, up 2% year-over-year [10] - Caesars Digital reported net revenue of $335 million, a 19% increase year-over-year, with adjusted EBITDA of $43 million, up $38 million year-over-year [12] - Sports Betting net revenue increased by 9%, while iCasino net revenue grew by 53% year-over-year [12][13] Market Data and Key Metrics Changes - Convention room nights accounted for 20% of the Las Vegas mix, with the Forum Convention Center achieving a Q1 EBITDA record [8] - The New Orleans and Danville projects contributed positively to the Regional segment despite weather disruptions [10][19] Company Strategy and Development Direction - The company is focused on capital projects in Las Vegas, which are yielding better-than-expected returns [9] - There is a commitment to enhancing guest experiences through significant capital investments over the past four years [10] - The company is in a free cash flow harvesting mode, with plans to use operating free cash flow primarily for debt paydown [25] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the Las Vegas market outlook despite economic uncertainties [9][22] - Forward bookings remain strong, with expectations for continued growth in digital segments [22] - Management noted that they have not observed any significant consumer softness, with rated play showing mid-single-digit growth [44][46] Other Important Information - The company repurchased $100 million of its stock at an average price of $23.84 [16] - Full-year CapEx for 2025 is expected to be approximately $600 million, with interest expenses projected to decrease significantly [16] Q&A Session Summary Question: Las Vegas outlook and group-related bookings - Management indicated that group bookings were about 20% of the first quarter room base and expect 2025 to be a record year for group bookings [29][30] Question: Clarification on last year's revenue piece - Management confirmed a $6 million headwind on EBITDA due to skin revenues and World Series of Poker revenues declining [32] Question: Impact of weather and leap year on regional performance - Management estimated the net impact of weather and leap year to be in excess of $10 million [37] Question: Changes in customer behavior among different segments - Management noted that unrated play has been softer than rated play, but rated play is up mid-single digits [44] Question: Digital segment performance and future expectations - Management confirmed that iCasino is performing well, with a 70% increase in revenue in April compared to the previous year [21][84] Question: International customer exposure and trends - Management stated that they primarily operate as a domestic business, with some international high-end play continuing without significant changes [91] Question: Regional margins and future expectations - Management expects regional margins to improve as competitive pressures ease and new properties ramp up [97] Question: Buyback strategy and market conditions - Management indicated they would remain active in stock buybacks if the stock dislocates as it did in early April [100]

Core Viewpoint - Summit Hotel Properties, Inc. has declared cash dividends for both common and preferred stock, reflecting a strong commitment to returning value to shareholders [1][2][3]. Dividend Announcements - The Company declared a cash dividend of $0.08 per share for the first quarter ended March 31, 2025, which translates to an annualized dividend yield of 8.2% based on the closing stock price on April 23, 2025 [1]. - A cash dividend of $0.390625 per share for the 6.25% Series E Cumulative Redeemable Preferred Stock and $0.3671875 per share for the 5.875% Series F Cumulative Redeemable Preferred Stock has been authorized for the dividend period ending on May 31, 2025 [2]. - Additionally, a cash distribution of $0.328125 per unit for the unregistered 5.25% Series Z Cumulative Perpetual Preferred Units has been declared for the distribution period ending on May 31, 2025 [3]. Company Overview - Summit Hotel Properties, Inc. is a publicly-traded real estate investment trust focused on owning premium-branded lodging properties, primarily in the Upscale segment of the lodging industry [4]. - As of April 24, 2025, the Company's portfolio includes 97 assets, with 53 wholly owned properties and a total of 14,555 guestrooms located across 25 states [4].

AUSTIN, Texas, March 31, 2025 /PRNewswire/ -- Summit Hotel Properties, Inc. (NYSE: INN) (the "Company") today announced that it has successfully closed on a new $275 million senior unsecured term loan (the "Term Loan"). The Company expects to utilize future proceeds from the Term Loan to repay the majority of the Company's outstanding $287.5 million 1.50% Convertible Senior Notes maturing in February 2026. The Term Loan includes a delayed draw feature available to the Company through March 1, 2026, that wil ...