The week ending July 4th delivered a 10.9% RevPAR jump nationally, with World Cup host cities posting 23% gains. But strip away D.C.'s once-in-a-generation America 250 weekend and a handful of soccer matches, and the picture for most hotels looks a lot less celebratory.
Reinsurers just absorbed mid-single-digit billions from June's severe storms across six of the most hotel-dense markets in the country. The premium increase you budgeted for Q4 renewal is probably wrong now, and the math hits whether your property took damage or not.
CMBS office delinquency hit 12.34% in January 2026 and distressed sales surged to $4.3 billion last year. The conversion math at 40-60% below replacement cost looks compelling on paper, but the gap between "viable candidate" and "operating hotel" is where the real risk lives.
Pebblebrook just scheduled its Q1 2026 earnings call for April 29. The interesting number isn't on the calendar... it's the gap between their 2026 guidance and what the portfolio actually delivered last year.
Chatham sold hotels averaging 25 years old at 27% EBITDA margins and bought hotels averaging 10 years old at 42% margins. The per-key math on that swap tells you everything about where this REIT is headed.
