U.S. HOTEL PERFORMANCE IMPROVES IN THIRD WEEK OF MAY, YOY COMPARISONS UP

U.S. HOTEL PERFORMANCE improved in the third week of May compared to the previous week, with positive year-over-year comparisons, according to CoStar. Key
metrics, including occupancy, RevPAR, and ADR, all saw week-over-week increases.

Occupancy increased to 67.4 percent for the week ending May 18, up from 66.1 percent the previous week, marking a 0.2 percent year-over-year rise. ADR rose
to $163.11 from $162.14, reflecting a 2.6 percent jump compared to last year. RevPAR reached $109.93, up from $107.24 the prior week, showing a 2.8 percent
increase compared to the same period in 2023.

Among the top 25 markets, Houston experienced the only double-digit occupancy increase, rising 10.5 percent to 67.9 percent. Atlanta reported the highest
year-over-year increases in ADR, rising by 10 percent to $137.30, while RevPAR increased by 18 percent to $98.86.