Our hotelAVE Hospitality Dashboard 2Q26 is now available!

• • • • Everybody rasied their 2026 YE RevPAR guidance. REIT’s and brands raised their year-end RevPAR guidance ranging from 1% to 9%. CoStar raised their year-end guidance to 4.4%.
      • REIT’s and brands reported strong corporate transient and group demand, particularly in luxury assets, propelling upward revisions in year-end topline and EBITDA estimates. The rebound in leisure demand is particularly evident in the growth in transient wholesale and tour/wholesale and SMERF group segments.
      • GOP flow through remains challenged despite strong RevPAR growth. Y/Y GOP margin expansion is only 34 bps as growth in labor costs exceeded 4% and hotels have increased their non-labor operating expenses significantly Y/Y.
      • Strong price appreciation drove REIT implied cap rates lower in 2Q26. Greater than expected topline growth and positive margin expansion helped fuel outperformance in earnings. REIT’s are back “looking” at acquisitions.
      • Lending spreads have remained largely unchanged since last quarter. However, mortgage brokers indicated diminishing interest in refinancing transactions with debt yields below 9%.
      • Rooms under construction in Top 25 markets grew to 2.5% of existing inventory since last quarter. Hotels under construction are heavily concentrated in upscale and upper midscale chains although luxury has the largest percentage growth.

Download the full summary to stay up-to-date: hotelAVE Hospitality Dashboard 2Q26