STR: GOPPAR OF U.S. HOTELS REACH HIGHEST LEVEL SINCE OCTOBER 2019 IN JUNE

IN JUNE, GOPPAR for U.S. hotels reached its highest level since October 2019, according to STR. All profitability metrics were up in the month compared to
the month before.

GOPPAR was $91.23 for the month, up from $88.63 reported in May. In April GOPPAR stood at $90.96. EBITDA PAR was $69.53 for June, TRevPAR was $226.10 and labor
costs per room were $68.40.

“Each of the key bottom-line metrics increased from May due to a rise in room rates as well as improved revenue from F&B and groups,” said Joseph Rael, STR’s
senior director of financial performance. “Profit margins have held strong the past 12 months but have been slightly reduced recently due to rising wages and costs.
Hotels have brought back services, amenities and F&B operations that were previously reduced, which have increased profits overall but at lower margins. While F&B
revenues remain strong, catering and banquet revenue has lagged with improvement in recent months due to rising group demand.”