Lodging - U.S. RevPAR +10.9% y/y last week; Quadruple tailwinds drove very strong results

Research evidence excerpt

Lodging - U.S. RevPAR +10.9% y/y last week; Quadruple tailwinds drove very strong results

Truist Securities

Equity Research Report July 8, 2026

CONSUMER: Lodging

Lodging - U.S. RevPAR +10.9% y/y last

week; Quadruple tailwinds drove very C. Patrick Scholes

212-319-3915 strong results Patrick.Scholes@truist.com

Overall, U.S. RevPAR was +10.9% y/y for the week ending 7/4/2026, per STR/

CoStar, above the prior week's result of +9.6% y/y and the 10-week average of

Gregory J. Miller +6.4% y/y.

212-303-4198

Gregory.J.Miller@truist.com Last week's outsized results were driven by quadruple tailwinds. 1) World Cup

markets remain a bright spot for RevPAR growth (+9-39%) in the tournament's fourth

Barry Jonas week, 2) America250 celebrations a tailwind to demand, 3) The 4th of July holiday shift

212-590-0998 from Friday in 2025 to Saturday this year opened up mid-week Business and Group

Barry.Jonas@truist.com travel (Group RevPAR +29%), and 4) The shift also helped Saturday RevPAR, up 19.6%

y/y.

Davis Holcombe

404-926-5091

Davis.Holcombe@truist.com Similar to the data from the past few weeks, last week again experienced massive

bifurcation across chain scales and the World Cup continues to be the rising

tide to lift all boats, driving y/y RevPAR growth across all chain scales. The delta 6 Page Document between the RevPAR growth in the Luxury chain scale and Economy stretched

further to ~2180bps from ~1700bps in the prior week. Group RevPAR (+29.0% y/y)

Reasons for this report outperformed the Transient segment by ~1540bps, which is of no surprise, as weeks with a holiday shift typically see outsized Group RevPAR results.

✓ Data-Driven Analysis

✓ Our analysis of the most recent weekly US Major RevPAR statistics presented below:

lodging results • Luxury RevPAR: +24.5% y/y