Financial PerformancePosted Q2 EBITDA slightly above the high end of its guide with out-of-room spending and margins better than expected.
Future GrowthThe stock is set up for relative outperformance due to its 2025 EBITDA growth profile, driven by under renovation assets coming back online and recent conversions experiencing further tailwinds.
Share RepurchaseSHO repurchased 0.7MM shares for $6.9MM at an average of $9.90 per share, indicating strong confidence in the stock's future.