Q2 2025 Earnings

Real Estate REIT - Hotel & Motel

Income Statement

Revenue

$660M+7.5% YoY

Gross Profit

$217M32.9% margin

Operating Income

$139M21.1% margin

Net Income

$72M10.9% margin

EPS (Diluted)

$1.12

QoQ Revenue Growth

+12.3%

Cash Flow

Operating Cash Flow

$123M

Free Cash Flow

$53M

Stock-Based Comp.

$3M

Balance Sheet

Total Assets

$6.1B

Total Liabilities

$4.9B

Stockholders' Equity

$800M

Cash & Equivalents

$421M

Year-over-Year Comparison

Metric	Current	Year Ago	Change
Revenue	$660M	$613M	+7.5%
Gross Profit	$217M	$237M	-8.4%
Operating Income	$139M	$168M	-17.0%
Net Income	$72M	$101M	-28.8%

Revenue Segments

Hotel Food And Beverage Banquets

$175M26%

Hotel Group Rooms

$146M22%

Hotel Food And Beverage Outlets

$76M11%

Entertainment Admissions And Ticketing

$65M10%

Hotel, Other

$65M10%

Hotel Transient Rooms

$55M8%

Entertainment Food And Beverage

$46M7%

Entertainment Retail And Other

$32M5%