San Francisco RevPAR Growth
San Francisco recorded more than 15% RevPAR growth, standing out as a top performer in the company's portfolio.
Margin Growth at Urban Hotels
Despite flat RevPAR, urban hotels achieved 140 basis points of margin growth by controlling costs effectively.
Strong Balance Sheet
The company maintained a strong balance sheet with net leverage of only 3.5x trailing earnings, nearly $200 million in cash and equivalents, and $700 million of total liquidity.
Positive Group Booking Trends
The company booked 6% more rooms than the prior year, marking the strongest third quarter booking volume since before the pandemic. Positive group pace is noted heading into 2026, particularly in Orlando, Boston, Miami, San Francisco, and Wine Country.
Andaz Miami Beach Recovery
Andaz Miami Beach's guest response and lead volume improved, with the resort ranking #8 on TripAdvisor for Miami Beach Hotels. The property is pacing well to achieve desired occupancy goals and deliver strong growth next year.