Management attributes margin expansion of 45 basis points to a lean operating model and disciplined cost management, which offset elevated energy expenses from winter storms.Strategic capital allocation through transformative renovations and conversions contributed meaningfully to results, with 7 completed conversions generating 16% EBITDA growth.Non-room revenue growth of 8.2% significantly exceeded RevPAR performance, validating ROI initiatives focused on expanding ancillary revenue channels and food and ...

CFO and COO Sean Dell’Orto said first-quarter RevPAR exceeded $191, up about 2% year-over-year, or about 5.5% excluding Miami. He added that RevPAR growth was “over 6.2%” when also adjusting for storm disruption in Hawaii. Total hotel revenues were $591 million, up nearly 2%, and hotel adjusted EBITDA was $152 million, implying a hotel adjusted EBITDA margin of roughly 26%. Dell’Orto said adjusted EBITDA was $143 million and adjusted FFO per share was $0.45.Baltimore highlighted strength across the quarter, ...