Q3 2025 Earnings

Real Estate REIT - Hotel & Motel

Income Statement

Revenue

$592M+7.7% YoY

Gross Profit

$174M29.4% margin

Operating Income

$89M15.0% margin

Net Income

$35M5.9% margin

EPS (Diluted)

$0.53

QoQ Revenue Growth

-10.2%

Cash Flow

Operating Cash Flow

$205M

Free Cash Flow

$135M

Stock-Based Comp.

$4M

Balance Sheet

Total Assets

$6.2B

Total Liabilities

$5.0B

Stockholders' Equity

$758M

Cash & Equivalents

$483M

Year-over-Year Comparison

Metric	Current	Year Ago	Change
Revenue	$592M	$550M	+7.7%
Gross Profit	$174M	$176M	-0.6%
Operating Income	$89M	$106M	-16.3%
Net Income	$35M	$59M	-40.9%

Revenue Segments

Hotel Food And Beverage Banquets

$154M26%

Hotel Group Rooms

$128M22%

Hotel Food And Beverage Outlets

$79M13%

Hotel, Other

$72M12%

Hotel Transient Rooms

$67M11%

Entertainment Admissions And Ticketing

$34M6%

Entertainment Food And Beverage

$33M6%

Entertainment Retail And Other

$24M4%