will be accessible by telephone and through the internet. Interested individuals are requested to register for the call using this [link] to obtain dial-in and webcast details. Registration details are also available by visiting [https://investor.drhc.com]. A replay of the conference call webcast will be archived and available online.ABOUT THE COMPANYDiamondRock Hospitality Company is a self-advised real estate investment trust (REIT) that is an owner of a leading portfolio of geographically diversified hot ...

Pebblebrook Hotel Trust (NYSE:PEB) Q4 2025 Earnings call February 26, 2026 09:00 AM ET Company ParticipantsAri Klein - Director of Equity ResearchDori Kesten - DirectorJon Bortz - CEO and Chairman of the BoardRaymond Martz - Co-President, CFO, Treasurer and SecretaryRich Hightower - Managing Director and U.S. REIT Equity ResearchSmedes Rose - DirectorThomas Fisher - Co-President and Chief Investment OfficerConference Call ParticipantsChris Darling - Senior Analyst and Head of U.S. Lodging and Gaming Researc ...

Earnings Release Supplement Fourth Quarter 2025 (UNAUDITED) February 25, 2026 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. T ...

SUMMIT HOTEL PROPERTIES REPORTS FOURTH QUARTER AND FULL YEAR 2025 RESULTS [Accessibility Statement] Skip NavigationAccretive Capital Recycling Continues with the Sale of the Hilton Garden Inn LongviewRefinance of Convertible Notes Complete Utilizing Delayed Draw Term LoanNo Debt Maturities Until 2028AUSTIN, Texas, Feb. 25, 2026 /PRNewswire/ -- Summit Hotel Properties, Inc. (NYSE: INN) (the "Company"), today announced results for the three and twelve months ended December 31, 2025."Demand across our portfoli ...

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]

Financial Data and Key Metrics Changes - Adjusted EBITDAre for 2025 was $258.3 million, exceeding guidance and reflecting strong operational performance [10][18] - Net income for Q4 2025 was $6.1 million, with adjusted FFO per share at $0.45, meeting or exceeding guidance [8][10] - Full year adjusted FFO per share was $1.76, showing double-digit percentage growth compared to 2024 [6][10] Business Line Data and Key Metrics Changes - Food and beverage revenue increased by 13.4% in 2025, driven by strong banquet and catering performance [11][20] - Same-property RevPAR for Q4 2025 increased by 4.5%, building on a 5.6% growth in Q4 2024 [8][20] - Total RevPAR for the full year 2025 was $328.57, an increase of 8% compared to 2024 [21] Market Data and Key Metrics Changes - Properties in Scottsdale, Denver, Santa Clara, Orlando, San Diego, and Santa Barbara showed substantial RevPAR growth in 2025 [11][21] - Houston market experienced RevPAR growth as market performance improved after previous challenges [9][22] - Same-property RevPAR for Q1 2026 is estimated to have grown approximately 4.6% compared to the same period in 2025 [19] Company Strategy and Development Direction - The company plans to invest between $70 million and $80 million in capital expenditures in 2026, focusing on renovations and enhancements [16][29] - The strategy includes strengthening group business and capturing more corporate transient demand, with expectations for continued growth in these segments [12][43] - The company is optimistic about future growth prospects, driven by events like the FIFA World Cup and NFL Draft [18][42] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the resilience of lodging demand despite economic uncertainties [18][39] - The outlook for 2026 includes a projected same-property RevPAR growth range of 1.5%-4.5% [17][40] - Management highlighted the importance of group demand and the ongoing recovery in corporate transient demand as key growth drivers [12][41] Other Important Information - The company repurchased approximately 9.4 million shares in 2025, representing about 9.2% of outstanding shares at the start of the year [35] - A quarterly dividend of $0.14 per share was announced for Q1 2026, reflecting a yield of approximately 3.5% [36] - The company has no preferred equity or senior capital, with a strong balance sheet and liquidity position [34] Q&A Session Summary Question: Can you provide more context around the RevPAR guide ranges? - Management indicated that special events and strong group revenue pace are key components of the RevPAR outlook, with visibility on group business being a significant factor [47][48] Question: What are the recent trends in large corporate account growth? - Management noted that while corporate accounts are still below 2019 levels, there has been consistent growth, particularly in Q4, with mid-teens growth in large accounts [50][52] Question: What is the outlook for the asset trading market? - Management observed increased activity in the asset trading market and expressed interest in external growth opportunities, particularly in the $50 million-$200 million range [55][57] Question: How did the Nashville market perform in Q4 and what are the expectations for 2026? - Management acknowledged challenges in Q4 but expects improvement in midweek corporate and group segments in 2026 [67][68] Question: How is the company managing OpEx growth? - Management indicated that the 4.5% OpEx growth includes impacts from Grand Hyatt Scottsdale, with expectations for costs to moderate towards inflationary levels [85][86]

Together with our management teams, we remain focused on ensuring that we are growing market share and prudently managing expenses to maximize the profitability of our hotels. Variable expense growth for our portfolio has moderated, with higher growth in fixed costs during 2025 largely coming as a result of challenging year-over-year comparisons. We achieved comparable hotels EBITDA of $99,000,000 for the quarter and $474,000,000 for the year, resulting in an industry leading comparable hotels EBITDA margin ...

investors and management to evaluate the period-to-period performance of our hotels and facilitates comparisons with other hotel REITs and hotel owners. In particular, these measures assist management and investors in distinguishing whether increases or decreases in revenues and/or expenses are due to growth or decline of operations at Same-Property hotels or from other factors, such as the effect of acquisitions or dispositions.FFO and Adjusted FFOThe Company calculates FFO in accordance with standards est ...

Investment Rating - The report indicates a positive outlook for the Lagos real estate market, highlighting its role as a major economic pillar in Nigeria, particularly after the GDP rebasing exercise [4][15]. Core Insights - The Nigerian economy is transitioning towards stabilization and growth, with a notable GDP growth of 3.98% in Q3 2025, driven by a resilient non-oil sector [5][15]. - Real estate has emerged as the third-largest sector in the rebased economy, contributing 13.36% to total real GDP, underscoring its structural importance [9][15]. - Inflation has moderated significantly, decreasing from 25.3% in June to 15.15% by December 2025, which is expected to support market stability [12][15]. - The naira has stabilized within a managed band, supported by a significant increase in external reserves, which reached $45.45 billion by December 2025 [13][15]. - The enactment of the Nigeria Tax Act 2025 is anticipated to enhance the macro environment for real estate, promoting formal agreements between landlords and tenants [14][30]. Economic Update - The GDP rebasing exercise revealed a larger and more diversified economy, with nominal GDP revised upward by 41.7% [4]. - Real estate's contribution to GDP highlights its critical role in national wealth, with a quarter-on-quarter growth rate of 3.50% [5][9]. - The construction sector outperformed the broader economy with a real growth rate of 5.57%, driven by public infrastructure projects [11]. Residential Market Review - Residential rents in Lagos continued to rise despite moderated inflation, driven by strong demand and constrained supply [22][32]. - Government interventions have facilitated the delivery of 653 residential units through public-private partnerships [23][32]. - The launch of the MOFI Real Estate Investment Fund offering long-term loans at 9.75% indicates ongoing public sector efforts to address housing shortages [24][32]. Retail Market Review - The retail sector has seen limited new development, with a gradual reconfiguration of tenant mix and retail strategies [33][39]. - Indigenous convenience-focused brands have gained traction, reflecting a shift towards cost-efficient retail formats [33][39]. - The average prime retail rents in Lagos are aligned with several African peers, indicating competitive pricing [35]. Office Market Review - The Lagos office market is showing signs of recovery, with Grade A occupancy levels reaching 73% [40][47]. - Rental performance has softened, particularly for prime assets, with effective rents adjusting downward to support occupancy [41][47]. - The emergence of new office developments in Ikeja indicates continued demand for modern office spaces [43][47]. Industrial Market Review - The industrial sector remains resilient, supported by logistics demand and manufacturing activity within Special Economic Zones [49][56]. - Prime industrial rents vary significantly based on infrastructure quality, with Grade A demand accelerating in well-serviced areas [51][56]. - The demand for warehouse spaces has grown approximately 25% year-on-year, reflecting the sector's expansion [74][56]. Infrastructure and Data Centre Market Review - Key infrastructure projects, including the Lagos–Calabar Coastal Highway and the Lagos Green Line Rail Project, are advancing, enhancing connectivity [57][63]. - The data centre market in Lagos is valued at approximately $1.4 billion, indicating strong investor interest and capacity additions [59][63]. Port Harcourt Real Estate Market - Port Harcourt's real estate market is driven by the oil sector, with residential demand growing at an estimated 12-15% [65][87]. - The retail sector has expanded significantly, driven by a rising middle class and consumer preferences for modern shopping environments [67][87]. - Industrial land prices have risen 10-20% over three years, with demand for warehouses increasing by about 25% year-on-year [74][87]. Abuja Real Estate Market - Abuja's real estate market is characterized by high demand and strong capital appreciation, with average property prices projected to rise by 10-15% annually in prime areas [81][98]. - The market is shifting towards integrated, technology-enabled commercial spaces, reflecting evolving tenant needs [85][98]. - The persistent housing deficit and urbanization are driving demand for middle-to-low-income housing in satellite towns [92][98].

NASHVILLE, Tenn., Feb. 23, 2026 (GLOBE NEWSWIRE) -- Ryman Hospitality Properties, Inc. (NYSE: RHP), a leading 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 and twelve months ended December 31, 2025. Fourth Quarter 2025 Highlights and Recent Developments: The Company reported all-time quarterly record consolidated revenue of $737.8 million, driven by quarterly record same-store ...