Dafinchi AI

Host Hotels & Resorts, Inc.

HST

Financial Services

2w

Financial Performance Summary

Ancillary spending remained strong with F&B revenue up 4%, banquet revenue up 1%, and other revenue (including golf and spa) up 13%.
Business interruption proceeds of $9 million related to Hurricanes Helene and Milton benefited Q2 results, compared to $30 million in Q2 2024 from Hurricane Ian and Maui wildfires.
Comparable hotel EBITDA margin declined 120 basis points to 31%, impacted by the absence of prior year business interruption proceeds.
Comparable hotel total RevPAR improved 4.2% year-over-year, driven by stronger transient demand, higher ADR, and increased ancillary spend.
In Q2 2025, Host Hotels & Resorts delivered adjusted EBITDAre of $496 million, a 3.1% increase year-over-year, and adjusted FFO per share of $0.58, up 1.8%.
The Westin Cincinnati was sold for $60 million at a 14.3x trailing EBITDA multiple, and 6.7 million shares were repurchased for $105 million in Q2.
Transient revenue grew 7%, with Maui accounting for approximately 40% of this growth, while group room revenue decreased 5% due to calendar shifts and renovation disruptions.

EastGroup Properties, Inc.

EGP

Financial Services

3w

Financial Performance Summary

Cash same-store net operating income (NOI) rose 6.4% for the quarter despite lower occupancy.
Debt to total market capitalization was 14.2%, unadjusted debt-to-EBITDA ratio was 3.0x, and interest and fixed charge coverage increased to 16x.
FFO per share for Q2 met the high end of guidance range and increased from $2.05 in the prior year quarter.
Funds from operations (FFO) were $2.21 per share in Q2 2025, up 7.8% year-over-year excluding involuntary conversions.
Quarter-end leasing was 97.1% with occupancy at 96%, and average quarterly occupancy was 95.9%, down 110 basis points from Q2 2024.
Quarterly re-leasing spreads were 44% GAAP and 30% cash; year-to-date spreads were similar at 46% GAAP and 31% cash.
Tenant collections remain healthy with uncollectible rents estimated at 35 to 45 basis points of revenues, slightly better than historic run rate.
Top 10 tenants accounted for 6.9% of rents, down 90 basis points from last year, reflecting increased tenant and geographic diversification.

Ryman Hospitality Properties, Inc.

RHP

Financial Services

1w

Strategic Acquisition of JW Marriott Desert Ridge in Phoenix

Completed the acquisition, long on the top of the company's list, with a focus on leisure demand and group rotation opportunities.
Expected to be accretive to FY 2026 results, with an estimated contribution of $18-$22 million in adjusted EBITDAre for 2025.
Renovations and capital enhancements underway, including meeting space upgrades and potential resort expansion to accommodate large groups over 1,000 rooms.
Market dynamics in Phoenix support future resort expansion, with the only larger hotel being a 1,000-room Sheraton in downtown Phoenix.

Park Hotels & Resorts Inc.

PK

Financial Services

2w

Strategic Portfolio Reshaping and Noncore Asset Dispositions

Sale of Hyatt Centric Fisherman's Wharf for $80 million at 64x 2024 EBITDA, demonstrating strong real estate value support.
Active engagement in discussions for additional noncore asset sales aiming for $300-$400 million in total dispositions by year-end.
Decision to close the Embassy Suites Kansas City, DoubleTree Seattle Airport, and DoubleTree Sonoma to improve portfolio quality, increasing core portfolio RevPAR by over $5 and margins by nearly 70 basis points.
Focus on reducing noncore hotels from 18 to approximately 3 by end of 2024, enhancing long-term growth and portfolio quality.