Lodging - World Cup RevPAR Tracker Week 5: Five weeks, all attack, no defense

Research evidence excerpt

Lodging - World Cup RevPAR Tracker Week 5: Five weeks, all attack, no defense

Truist Securities

Equity Research Report July 15, 2026

CONSUMER: Lodging

Lodging - World Cup RevPAR Tracker

Week 5: Five weeks, all attack, no defense C. Patrick Scholes In light of the importance of the World Cup on U.S. hotel RevPAR for June and 212-319-3915

Patrick.Scholes@truist.com July and the generally pre-event negative rhetoric in the media about expected

demand and/or room rate growth, we are publishing a weekly report with detailed

results for World Cup markets. As evidenced by the results so far, we continue to find Gregory J. Miller such negative rhetoric generally unfounded and not supported by overall actual hotel 212-303-4198

Gregory.J.Miller@truist.com performance.

Davis Holcombe For the week ending 7/11 and as detailed below and on pages 2-3 there were 8 World

404-926-5091 Cup matches held in the United States. For these markets on game day we observed

Davis.Holcombe@truist.com RevPAR ranging from +20% to +134% y/y, with the average game day RevPAR of

+49%. The week's results capture half of the Round of 16 matches and all four Quarter-

6 Page Document final matches.

With fewer matches comes less of a RevPAR boost for the week. Host city market

Reasons for this report RevPAR for the week ranged from -10% to +38% y/y, with the strongest weekly results

coming from Miami and Kansas City (+38% and +35% y/y, respectively), both of which

✓ Data-Driven Analysis hosted matches on Saturday. The tournament drove double-digit growth for the week

for all participating markets with the exception Seattle and Atlanta, which both saw a

10% decline y/y.

The tables below display the results for each city that hosted a World Cup match, the

overall U.S.