Company Reports Q1 Revenue of $259.71M, Beating Expectations
Reports Q1 revenue $259.71M, consensus $247.37M. Reports Q1 Total RevPAR for all hotels in the portfolio up 13.4% to $411.28. Total RevPAR excluding Andaz Miami Beach increased 5.3%. Bryan A. Giglia, CEO, stated, "We are pleased with our performance in the first quarter which came in ahead of our expectations despite weather-related headwinds at several hotels throughout the quarter. While the strength was broad based, we were particularly encouraged by our resort portfolio, including solid first quarter performance at Andaz Miami Beach. Our first quarter results demonstrate the embedded growth potential of our portfolio as we benefit from our prior investments and some of our larger markets continue to normalize. We are revising our full year outlook higher to reflect the outperformance in the first quarter, and while trends in the initial months of 2026 give us reasons to be optimistic about the remainder of the year, we retain a level of caution given the uncertain backdrop."
