# REIT - Hotel & Motel — company-by-company sector analysis

> REIT - Hotel & Motel: Host Hotels & Resorts, Inc. owns the largest revenue base; Ryman Hospitality Properties, Inc. has the fastest current growth.

Sector Alpha — machine-written from the numbers. Data as of 2026-07-28. Not investment advice.

## Bottom line

REIT - Hotel & Motel has outperformed S&P 500 by 26.8% over 52 weeks and 24.6% over 13 weeks. 11 of 13 covered companies beat the S&P 500 on Mansfield relative strength, while 8 of 13 beat the sector itself. Ryman Hospitality Properties, Inc. has the fastest current income growth at 10.7%, across 13 of 13 comparable companies.

### Is the REIT - Hotel & Motel sector outperforming S&P 500?

REIT - Hotel & Motel has outperformed S&P 500 by 26.8% over 52 weeks and 24.6% over 13 weeks. 11 of 13 covered companies beat the S&P 500 on Mansfield relative strength, while 8 of 13 beat the sector itself.

### Which REIT - Hotel & Motel company is largest by income?

Host Hotels & Resorts, Inc. leads with income of $6,165 million, based on 13 of 13 comparable companies through Mar 2026.

### Which REIT - Hotel & Motel company is growing fastest?

Ryman Hospitality Properties, Inc. has the fastest current income growth at 10.7%, across 13 of 13 comparable companies.

### Which REIT - Hotel & Motel company has the strongest 4-Factor Sector Score?

Xenia Hotels & Resorts, Inc. ranks first at 58.2/100 with 79.6% evidence confidence. The score prioritizes research; it is not a buy recommendation.

### Which REIT - Hotel & Motel company has the lowest comparable P/BV-to-ROE?

Braemar Hotels & Resorts Inc. has the lowest comparable P/BV ÷ ROE at 0.25, among 8 of 13 companies that pass the metric’s comparability rules.

### How much history does this REIT - Hotel & Motel comparison include?

The page compares up to 20 reported quarters per company for fundamentals, CAPEX, debt and valuation, ending Mar 2026. Missing observations remain blank rather than being estimated.

### How is the 4-Factor Sector Score calculated?

The four visible contributions add directly: growth and earnings up to 35 points, capital efficiency up to 25, valuation up to 20, and relative strength up to 20. Missing or stale evidence moves only the affected contribution toward neutral.

## Sector relative strength

REIT - Hotel & Motel has outperformed S&P 500 by 26.8% over the last 52 weeks. Over 13 weeks the gap is a lead of 24.6%. 11 of 13 covered companies currently beat the S&P 500 on Mansfield relative strength, so leadership inside the sector is broad. Chatham Lodging Trust is the strongest against the sector itself at +26%.

13-week sector return versus NIFTY 500: 25%
52-week sector return versus NIFTY 500: 27%
Stocks leading NIFTY: 11/13
Stocks leading sector: 8/13

Central tension: The central tension: the companies with the most scale are not necessarily the companies creating the most change.

Companies: 13
Combined market value: ₹47.1K Cr

## 4-Factor Sector Score

An additive sector-relative research score. The four displayed point contributions always equal the total: Growth & earnings (35), Capital efficiency (25), Valuation (20), and Relative strength (20). Missing or stale evidence is absorbed inside the affected factor, never applied as a hidden adjustment.

1. Xenia Hotels & Resorts, Inc. (XHR): 58/100 — Mixed-positive evidence; evidence 80%
   - Growth & earnings 23.4/35 | Capital efficiency 13.8/25 | Valuation 6.9/20 | Relative strength 14.1/20
   - Exact sum: 23.4 + 13.8 + 6.9 + 14.1 = 58.2
   - Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
2. Host Hotels & Resorts, Inc. (HST): 58/100 — Mixed-positive evidence; evidence 80%
   - Growth & earnings 23.6/35 | Capital efficiency 18.1/25 | Valuation 8.0/20 | Relative strength 8.0/20
   - Exact sum: 23.6 + 18.1 + 8 + 8 = 57.7
   - Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
3. RLJ Lodging Trust (RLJ): 58/100 — Mixed-positive evidence; evidence 68%
   - Growth & earnings 14.5/35 | Capital efficiency 14.6/25 | Valuation 9.8/20 | Relative strength 18.8/20
   - Exact sum: 14.5 + 14.6 + 9.8 + 18.8 = 57.7
   - Decision use: Price leads the evidence: RS versus the benchmark is 38.5%, but earnings trajectory is weak. Wait for revenue and profit confirmation.
4. Ryman Hospitality Properties, Inc. (RHP): 53/100 — Mixed-positive evidence; evidence 80%
   - Growth & earnings 16.0/35 | Capital efficiency 17.9/25 | Valuation 5.7/20 | Relative strength 13.4/20
   - Exact sum: 16 + 17.9 + 5.7 + 13.4 = 53
   - Decision use: Price leads the evidence: RS versus the benchmark is 24.3%, but earnings trajectory is weak. Wait for revenue and profit confirmation.
5. Pebblebrook Hotel Trust (PEB): 50/100 — Thin evidence · provisional; evidence 57%
   - Growth & earnings 18.9/35 | Capital efficiency 5.2/25 | Valuation 9.8/20 | Relative strength 15.7/20
   - Exact sum: 18.9 + 5.2 + 9.8 + 15.7 = 49.6
   - Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.
6. DiamondRock Hospitality Company (DRH): 48/100 — Mixed-negative evidence; evidence 80%
   - Growth & earnings 21.3/35 | Capital efficiency 11.5/25 | Valuation 4.0/20 | Relative strength 11.1/20
   - Exact sum: 21.3 + 11.5 + 4 + 11.1 = 47.9
   - Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
7. Park Hotels & Resorts Inc. (PK): 44/100 — Mixed-negative evidence; evidence 69%
   - Growth & earnings 19.2/35 | Capital efficiency 8.6/25 | Valuation 3.8/20 | Relative strength 12.3/20
   - Exact sum: 19.2 + 8.6 + 3.8 + 12.3 = 43.9
   - Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
8. Chatham Lodging Trust (CLDT): 44/100 — Mixed-negative evidence; evidence 68%
   - Growth & earnings 8.3/35 | Capital efficiency 5.8/25 | Valuation 9.8/20 | Relative strength 20.0/20
   - Exact sum: 8.3 + 5.8 + 9.8 + 20 = 43.9
   - Decision use: Price leads the evidence: RS versus the benchmark is 51.4%, but earnings trajectory is weak. Wait for revenue and profit confirmation.
9. Sunstone Hotel Investors, Inc. (SHO): 43/100 — Mixed-negative evidence; evidence 80%
   - Growth & earnings 22.9/35 | Capital efficiency 11.3/25 | Valuation 5.0/20 | Relative strength 4.1/20
   - Exact sum: 22.9 + 11.3 + 5 + 4.1 = 43.3
   - Decision use: Acceleration candidate, not a confirmed leader: earnings are strong but sector-relative strength is -7.3% and the one-year return is 36.3%. Do not upgrade until sector-relative strength is above zero and another reported period confirms growth.
10. Braemar Hotels & Resorts Inc. (BHR): 40/100 — Mixed-negative evidence; evidence 74%
   - Growth & earnings 12.8/35 | Capital efficiency 15.0/25 | Valuation 8.6/20 | Relative strength 3.8/20
   - Exact sum: 12.8 + 15 + 8.6 + 3.8 = 40.2
   - Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
11. Apple Hospitality REIT, Inc. (APLE): 38/100 — Mixed-negative evidence; evidence 80%
   - Growth & earnings 12.1/35 | Capital efficiency 12.6/25 | Valuation 5.9/20 | Relative strength 7.3/20
   - Exact sum: 12.1 + 12.6 + 5.9 + 7.3 = 37.9
   - Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
12. Summit Hotel Properties, Inc. (INN): 34/100 — Adverse evidence; evidence 62%
   - Growth & earnings 8.1/35 | Capital efficiency 6.6/25 | Valuation 9.8/20 | Relative strength 9.2/20
   - Exact sum: 8.1 + 6.6 + 9.8 + 9.2 = 33.7
   - Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
13. Service Properties Trust (SVC): 29/100 — Thin evidence · provisional; evidence 51%
   - Growth & earnings 12.5/35 | Capital efficiency 4.0/25 | Valuation 9.8/20 | Relative strength 3.0/20
   - Exact sum: 12.5 + 4 + 9.8 + 3 = 29.3
   - Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.

## Income Scale & Growth Durability

What the numbers say: Host Hotels & Resorts, Inc. is the scale leader at $6,165 million, 132.2% ahead of Ryman Hospitality Properties, Inc.. Ryman Hospitality Properties, Inc.'s growth is 10.7% from a $2,655 million base, with 20 reported observations in the 20-quarter window. Treat the growth leader as an acceleration candidate, not as equally proven scale.

Investor read: Host Hotels & Resorts, Inc. is the scale benchmark; Ryman Hospitality Properties, Inc. is the acceleration watch. Promote the challenger only if growth persists and converts into margin and returns.

This conclusion weakens if: Host Hotels & Resorts, Inc.'s growth falls below Ryman Hospitality Properties, Inc.'s for two consecutive comparable reports while operating margin also compresses.

Evidence: Host Hotels & Resorts, Inc. · $6,165 million | 132.2% versus #2 · Ryman Hospitality Properties, Inc. | 8/8 recent comparable periods | 13/13 companies · 260 observations

Definition: For lenders, reported income is used instead of industrial-company sales. Growth is compared year-on-year.

### Income — largest
1. Host Hotels & Resorts, Inc. (HST): ₹6.2K Cr
2. Ryman Hospitality Properties, Inc. (RHP): ₹2.7K Cr
3. Park Hotels & Resorts Inc. (PK): ₹2.5K Cr
4. Service Properties Trust (SVC): ₹1.7K Cr
5. Pebblebrook Hotel Trust (PEB): ₹1.5K Cr

### Income growth — fastest growers
1. Ryman Hospitality Properties, Inc. (RHP): 11%
2. Sunstone Hotel Investors, Inc. (SHO): 6.9%
3. Host Hotels & Resorts, Inc. (HST): 6.2%
4. Pebblebrook Hotel Trust (PEB): 2.9%
5. Xenia Hotels & Resorts, Inc. (XHR): 2.3%

### 20-quarter Income history
- HST: Jun 2021 ₹649 Cr | Sep 2021 ₹844 Cr | Dec 2021 ₹998 Cr | Mar 2022 ₹1.1K Cr | Jun 2022 ₹1.4K Cr | Sep 2022 ₹1.2K Cr | Dec 2022 ₹1.3K Cr | Mar 2023 ₹1.4K Cr | Jun 2023 ₹1.4K Cr | Sep 2023 ₹1.2K Cr | Dec 2023 ₹1.3K Cr | Mar 2024 ₹1.5K Cr | Jun 2024 ₹1.5K Cr | Sep 2024 ₹1.3K Cr | Dec 2024 ₹1.4K Cr | Mar 2025 ₹1.6K Cr | Jun 2025 ₹1.6K Cr | Sep 2025 ₹1.3K Cr | Dec 2025 ₹1.6K Cr | Mar 2026 ₹1.6K Cr
- RHP: Jun 2021 ₹171 Cr | Sep 2021 ₹307 Cr | Dec 2021 ₹377 Cr | Mar 2022 ₹299 Cr | Jun 2022 ₹470 Cr | Sep 2022 ₹468 Cr | Dec 2022 ₹569 Cr | Mar 2023 ₹492 Cr | Jun 2023 ₹505 Cr | Sep 2023 ₹529 Cr | Dec 2023 ₹633 Cr | Mar 2024 ₹528 Cr | Jun 2024 ₹613 Cr | Sep 2024 ₹550 Cr | Dec 2024 ₹648 Cr | Mar 2025 ₹587 Cr | Jun 2025 ₹660 Cr | Sep 2025 ₹592 Cr | Dec 2025 ₹738 Cr | Mar 2026 ₹665 Cr
- APLE: Jun 2021 ₹247 Cr | Sep 2021 ₹277 Cr | Dec 2021 ₹251 Cr | Mar 2022 ₹260 Cr | Jun 2022 ₹338 Cr | Sep 2022 ₹341 Cr | Dec 2022 ₹299 Cr | Mar 2023 ₹311 Cr | Jun 2023 ₹362 Cr | Sep 2023 ₹358 Cr | Dec 2023 ₹312 Cr | Mar 2024 ₹330 Cr | Jun 2024 ₹390 Cr | Sep 2024 ₹379 Cr | Dec 2024 ₹333 Cr | Mar 2025 ₹328 Cr | Jun 2025 ₹384 Cr | Sep 2025 ₹374 Cr | Dec 2025 ₹326 Cr | Mar 2026 ₹338 Cr
- PK: Jun 2021 ₹323 Cr | Sep 2021 ₹423 Cr | Dec 2021 ₹451 Cr | Mar 2022 ₹479 Cr | Jun 2022 ₹695 Cr | Sep 2022 ₹662 Cr | Dec 2022 ₹665 Cr | Mar 2023 ₹648 Cr | Jun 2023 ₹714 Cr | Sep 2023 ₹679 Cr | Dec 2023 ₹657 Cr | Mar 2024 ₹639 Cr | Jun 2024 ₹686 Cr | Sep 2024 ₹649 Cr | Dec 2024 ₹625 Cr | Mar 2025 ₹630 Cr | Jun 2025 ₹672 Cr | Sep 2025 ₹610 Cr | Dec 2025 ₹629 Cr | Mar 2026 ₹622 Cr
- DRH: Jun 2021 ₹125 Cr | Sep 2021 ₹179 Cr | Dec 2021 ₹190 Cr | Mar 2022 ₹197 Cr | Jun 2022 ₹281 Cr | Sep 2022 ₹268 Cr | Dec 2022 ₹255 Cr | Mar 2023 ₹244 Cr | Jun 2023 ₹291 Cr | Sep 2023 ₹277 Cr | Dec 2023 ₹264 Cr | Mar 2024 ₹256 Cr | Jun 2024 ₹309 Cr | Sep 2024 ₹285 Cr | Dec 2024 ₹279 Cr | Mar 2025 ₹255 Cr | Jun 2025 ₹306 Cr | Sep 2025 ₹285 Cr | Dec 2025 ₹275 Cr | Mar 2026 ₹258 Cr
- PEB: Jun 2021 ₹163 Cr | Sep 2021 ₹239 Cr | Dec 2021 ₹247 Cr | Mar 2022 ₹258 Cr | Jun 2022 ₹398 Cr | Sep 2022 ₹417 Cr | Dec 2022 ₹320 Cr | Mar 2023 ₹306 Cr | Jun 2023 ₹384 Cr | Sep 2023 ₹396 Cr | Dec 2023 ₹334 Cr | Mar 2024 ₹314 Cr | Jun 2024 ₹397 Cr | Sep 2024 ₹405 Cr | Dec 2024 ₹338 Cr | Mar 2025 ₹320 Cr | Jun 2025 ₹408 Cr | Sep 2025 ₹399 Cr | Dec 2025 ₹349 Cr | Mar 2026 ₹346 Cr
- SHO: Jun 2021 ₹117 Cr | Sep 2021 ₹167 Cr | Dec 2021 ₹174 Cr | Mar 2022 ₹172 Cr | Jun 2022 ₹251 Cr | Sep 2022 ₹244 Cr | Dec 2022 ₹244 Cr | Mar 2023 ₹243 Cr | Jun 2023 ₹276 Cr | Sep 2023 ₹248 Cr | Dec 2023 ₹219 Cr | Mar 2024 ₹217 Cr | Jun 2024 ₹247 Cr | Sep 2024 ₹226 Cr | Dec 2024 ₹215 Cr | Mar 2025 ₹234 Cr | Jun 2025 ₹260 Cr | Sep 2025 ₹229 Cr | Dec 2025 ₹237 Cr | Mar 2026 ₹260 Cr
- XHR: Jun 2021 ₹152 Cr | Sep 2021 ₹173 Cr | Dec 2021 ₹204 Cr | Mar 2022 ₹210 Cr | Jun 2022 ₹283 Cr | Sep 2022 ₹241 Cr | Dec 2022 ₹263 Cr | Mar 2023 ₹269 Cr | Jun 2023 ₹271 Cr | Sep 2023 ₹232 Cr | Dec 2023 ₹253 Cr | Mar 2024 ₹267 Cr | Jun 2024 ₹273 Cr | Sep 2024 ₹237 Cr | Dec 2024 ₹262 Cr | Mar 2025 ₹289 Cr | Jun 2025 ₹288 Cr | Sep 2025 ₹236 Cr | Dec 2025 ₹266 Cr | Mar 2026 ₹295 Cr
- RLJ: Jun 2021 ₹194 Cr | Sep 2021 ₹234 Cr | Dec 2021 ₹238 Cr | Mar 2022 ₹243 Cr | Jun 2022 ₹331 Cr | Sep 2022 ₹318 Cr | Dec 2022 ₹302 Cr | Mar 2023 ₹315 Cr | Jun 2023 ₹357 Cr | Sep 2023 ₹334 Cr | Dec 2023 ₹320 Cr | Mar 2024 ₹324 Cr | Jun 2024 ₹369 Cr | Sep 2024 ₹346 Cr | Dec 2024 ₹330 Cr | Mar 2025 ₹328 Cr | Jun 2025 ₹363 Cr | Sep 2025 ₹330 Cr | Dec 2025 ₹329 Cr | Mar 2026 ₹340 Cr
- SVC: Jun 2021 ₹376 Cr | Sep 2021 ₹437 Cr | Dec 2021 ₹421 Cr | Mar 2022 ₹394 Cr | Jun 2022 ₹516 Cr | Sep 2022 ₹498 Cr | Dec 2022 ₹455 Cr | Mar 2023 ₹429 Cr | Jun 2023 ₹504 Cr | Sep 2023 ₹497 Cr | Dec 2023 ₹444 Cr | Mar 2024 ₹436 Cr | Jun 2024 ₹513 Cr | Sep 2024 ₹491 Cr | Dec 2024 ₹457 Cr | Mar 2025 ₹435 Cr | Jun 2025 ₹503 Cr | Sep 2025 ₹479 Cr | Dec 2025 ₹397 Cr | Mar 2026 ₹364 Cr
- INN: Jun 2021 ₹87 Cr | Sep 2021 ₹111 Cr | Dec 2021 ₹107 Cr | Mar 2022 ₹142 Cr | Jun 2022 ₹183 Cr | Sep 2022 ₹178 Cr | Dec 2022 ₹172 Cr | Mar 2023 ₹182 Cr | Jun 2023 ₹194 Cr | Sep 2023 ₹182 Cr | Dec 2023 ₹177 Cr | Mar 2024 ₹188 Cr | Jun 2024 ₹194 Cr | Sep 2024 ₹177 Cr | Dec 2024 ₹173 Cr | Mar 2025 ₹184 Cr | Jun 2025 ₹193 Cr | Sep 2025 ₹177 Cr | Dec 2025 ₹175 Cr | Mar 2026 ₹185 Cr
- CLDT: Jun 2021 ₹50 Cr | Sep 2021 ₹64 Cr | Dec 2021 ₹57 Cr | Mar 2022 ₹55 Cr | Jun 2022 ₹82 Cr | Sep 2022 ₹88 Cr | Dec 2022 ₹70 Cr | Mar 2023 ₹68 Cr | Jun 2023 ₹84 Cr | Sep 2023 ₹87 Cr | Dec 2023 ₹72 Cr | Mar 2024 ₹68 Cr | Jun 2024 ₹86 Cr | Sep 2024 ₹87 Cr | Dec 2024 ₹75 Cr | Mar 2025 ₹69 Cr | Jun 2025 ₹80 Cr | Sep 2025 ₹78 Cr | Dec 2025 ₹68 Cr | Mar 2026 ₹68 Cr
- BHR: Jun 2021 ₹97 Cr | Sep 2021 ₹116 Cr | Dec 2021 ₹130 Cr | Mar 2022 ₹162 Cr | Jun 2022 ₹175 Cr | Sep 2022 ₹161 Cr | Dec 2022 ₹172 Cr | Mar 2023 ₹215 Cr | Jun 2023 ₹187 Cr | Sep 2023 ₹160 Cr | Dec 2023 ₹178 Cr | Mar 2024 ₹219 Cr | Jun 2024 ₹188 Cr | Sep 2024 ₹148 Cr | Dec 2024 ₹173 Cr | Mar 2025 ₹216 Cr | Jun 2025 ₹179 Cr | Sep 2025 ₹144 Cr | Dec 2025 ₹166 Cr | Mar 2026 ₹209 Cr

### 20-quarter Income growth history
- HST: Jun 2021 — | Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 113% | Sep 2022 41% | Dec 2022 27% | Mar 2023 29% | Jun 2023 0.9% | Sep 2023 2.1% | Dec 2023 4.8% | Mar 2024 6.5% | Jun 2024 5.2% | Sep 2024 8.7% | Dec 2024 7.9% | Mar 2025 8.4% | Jun 2025 8.2% | Sep 2025 0.9% | Dec 2025 12% | Mar 2026 3.2%
- RHP: Jun 2021 — | Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 175% | Sep 2022 52% | Dec 2022 51% | Mar 2023 65% | Jun 2023 7.5% | Sep 2023 13% | Dec 2023 11% | Mar 2024 7.3% | Jun 2024 21% | Sep 2024 4.0% | Dec 2024 2.4% | Mar 2025 11% | Jun 2025 7.7% | Sep 2025 7.6% | Dec 2025 14% | Mar 2026 13%
- APLE: Jun 2021 — | Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 37% | Sep 2022 23% | Dec 2022 19% | Mar 2023 20% | Jun 2023 7.1% | Sep 2023 5.0% | Dec 2023 4.4% | Mar 2024 6.1% | Jun 2024 7.7% | Sep 2024 5.9% | Dec 2024 6.7% | Mar 2025 -0.6% | Jun 2025 -1.5% | Sep 2025 -1.3% | Dec 2025 -2.1% | Mar 2026 3.1%
- PK: Jun 2021 — | Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 115% | Sep 2022 57% | Dec 2022 47% | Mar 2023 35% | Jun 2023 2.7% | Sep 2023 2.6% | Dec 2023 -1.2% | Mar 2024 -1.4% | Jun 2024 -3.9% | Sep 2024 -4.4% | Dec 2024 -4.9% | Mar 2025 -1.4% | Jun 2025 -2.0% | Sep 2025 -6.0% | Dec 2025 0.6% | Mar 2026 -1.3%
- DRH: Jun 2021 — | Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 125% | Sep 2022 50% | Dec 2022 34% | Mar 2023 24% | Jun 2023 3.6% | Sep 2023 3.4% | Dec 2023 3.5% | Mar 2024 4.9% | Jun 2024 6.2% | Sep 2024 2.9% | Dec 2024 5.7% | Mar 2025 -0.4% | Jun 2025 -1.0% | Sep 2025 0.0% | Dec 2025 -1.4% | Mar 2026 1.2%
- PEB: Jun 2021 — | Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 144% | Sep 2022 74% | Dec 2022 30% | Mar 2023 19% | Jun 2023 -3.5% | Sep 2023 -5.0% | Dec 2023 4.4% | Mar 2024 2.6% | Jun 2024 3.4% | Sep 2024 2.3% | Dec 2024 1.2% | Mar 2025 1.9% | Jun 2025 2.8% | Sep 2025 -1.5% | Dec 2025 3.3% | Mar 2026 8.1%
- SHO: Jun 2021 — | Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 115% | Sep 2022 46% | Dec 2022 40% | Mar 2023 41% | Jun 2023 10.0% | Sep 2023 1.6% | Dec 2023 -10% | Mar 2024 -11% | Jun 2024 -11% | Sep 2024 -8.9% | Dec 2024 -1.8% | Mar 2025 7.8% | Jun 2025 5.3% | Sep 2025 1.3% | Dec 2025 10% | Mar 2026 11%
- XHR: Jun 2021 — | Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 86% | Sep 2022 39% | Dec 2022 29% | Mar 2023 28% | Jun 2023 -4.2% | Sep 2023 -3.7% | Dec 2023 -3.8% | Mar 2024 -0.7% | Jun 2024 0.7% | Sep 2024 2.2% | Dec 2024 3.6% | Mar 2025 8.2% | Jun 2025 5.5% | Sep 2025 -0.4% | Dec 2025 1.5% | Mar 2026 2.1%
- RLJ: Jun 2021 — | Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 71% | Sep 2022 36% | Dec 2022 27% | Mar 2023 30% | Jun 2023 7.9% | Sep 2023 5.0% | Dec 2023 6.0% | Mar 2024 2.9% | Jun 2024 3.4% | Sep 2024 3.6% | Dec 2024 3.1% | Mar 2025 1.2% | Jun 2025 -1.6% | Sep 2025 -4.6% | Dec 2025 -0.3% | Mar 2026 3.7%
- SVC: Jun 2021 — | Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 37% | Sep 2022 14% | Dec 2022 8.1% | Mar 2023 8.9% | Jun 2023 -2.3% | Sep 2023 -0.2% | Dec 2023 -2.4% | Mar 2024 1.6% | Jun 2024 1.8% | Sep 2024 -1.2% | Dec 2024 2.9% | Mar 2025 -0.2% | Jun 2025 -2.0% | Sep 2025 -2.4% | Dec 2025 -13% | Mar 2026 -16%
- INN: Jun 2021 — | Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 110% | Sep 2022 60% | Dec 2022 61% | Mar 2023 28% | Jun 2023 6.0% | Sep 2023 2.3% | Dec 2023 2.9% | Mar 2024 3.3% | Jun 2024 0.0% | Sep 2024 -2.8% | Dec 2024 -2.3% | Mar 2025 -2.1% | Jun 2025 -0.5% | Sep 2025 0.0% | Dec 2025 1.2% | Mar 2026 0.5%
- CLDT: Jun 2021 — | Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 64% | Sep 2022 38% | Dec 2022 23% | Mar 2023 24% | Jun 2023 2.4% | Sep 2023 -1.1% | Dec 2023 2.9% | Mar 2024 0.0% | Jun 2024 2.4% | Sep 2024 0.0% | Dec 2024 4.2% | Mar 2025 1.5% | Jun 2025 -7.0% | Sep 2025 -10% | Dec 2025 -9.3% | Mar 2026 -1.5%
- BHR: Jun 2021 — | Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 80% | Sep 2022 39% | Dec 2022 32% | Mar 2023 33% | Jun 2023 6.9% | Sep 2023 -0.6% | Dec 2023 3.5% | Mar 2024 1.9% | Jun 2024 0.5% | Sep 2024 -7.5% | Dec 2024 -2.8% | Mar 2025 -1.4% | Jun 2025 -4.8% | Sep 2025 -2.7% | Dec 2025 -4.1% | Mar 2026 -3.2%

## Profit Scale & Acceleration

What the numbers say: Host Hotels & Resorts, Inc. leads with $1,026 million of TTM profit, 305.5% above Ryman Hospitality Properties, Inc.. Xenia Hotels & Resorts, Inc. shows ≥100% on the scoring scale (184% uncapped) growth from a $71 million profit base. Compare the size of the base and persistence before ranking acceleration above profit scale.

Investor read: Host Hotels & Resorts, Inc. sets the level benchmark; use the change leader as an inflection watch only after another comparable report confirms it.

This conclusion weakens if: The next two comparable reports reverse the current profit growth signal.

Evidence: Host Hotels & Resorts, Inc. · $1,026 million | 305.5% versus #2 · Ryman Hospitality Properties, Inc. | 4/8 recent comparable periods | 13/13 companies · 260 observations

Definition: Net profit is ranked only where the comparison base is economically meaningful. Loss-to-profit flips are shown but do not win the growth table.

### Net profit — largest
1. Host Hotels & Resorts, Inc. (HST): ₹1.0K Cr
2. Ryman Hospitality Properties, Inc. (RHP): ₹253 Cr
3. Apple Hospitality REIT, Inc. (APLE): ₹173 Cr
4. DiamondRock Hospitality Company (DRH): ₹105 Cr
5. Xenia Hotels & Resorts, Inc. (XHR): ₹71 Cr

### Profit growth — fastest growers
1. Xenia Hotels & Resorts, Inc. (XHR): 100%
2. DiamondRock Hospitality Company (DRH): 98%
3. Host Hotels & Resorts, Inc. (HST): 50%
4. Sunstone Hotel Investors, Inc. (SHO): 8.6%
5. Apple Hospitality REIT, Inc. (APLE): -9.4%

### 20-quarter Net profit history
- HST: Jun 2021 ₹-61 Cr | Sep 2021 ₹-120 Cr | Dec 2021 ₹323 Cr | Mar 2022 ₹118 Cr | Jun 2022 ₹260 Cr | Sep 2022 ₹116 Cr | Dec 2022 ₹149 Cr | Mar 2023 ₹291 Cr | Jun 2023 ₹214 Cr | Sep 2023 ₹113 Cr | Dec 2023 ₹134 Cr | Mar 2024 ₹272 Cr | Jun 2024 ₹242 Cr | Sep 2024 ₹84 Cr | Dec 2024 ₹109 Cr | Mar 2025 ₹251 Cr | Jun 2025 ₹225 Cr | Sep 2025 ₹163 Cr | Dec 2025 ₹137 Cr | Mar 2026 ₹501 Cr
- RHP: Jun 2021 ₹-63 Cr | Sep 2021 ₹-9 Cr | Dec 2021 ₹-6 Cr | Mar 2022 ₹-25 Cr | Jun 2022 ₹51 Cr | Sep 2022 ₹47 Cr | Dec 2022 ₹61 Cr | Mar 2023 ₹61 Cr | Jun 2023 ₹70 Cr | Sep 2023 ₹41 Cr | Dec 2023 ₹170 Cr | Mar 2024 ₹43 Cr | Jun 2024 ₹105 Cr | Sep 2024 ₹60 Cr | Dec 2024 ₹72 Cr | Mar 2025 ₹63 Cr | Jun 2025 ₹76 Cr | Sep 2025 ₹34 Cr | Dec 2025 ₹74 Cr | Mar 2026 ₹69 Cr
- APLE: Jun 2021 ₹20 Cr | Sep 2021 ₹32 Cr | Dec 2021 ₹13 Cr | Mar 2022 ₹18 Cr | Jun 2022 ₹65 Cr | Sep 2022 ₹59 Cr | Dec 2022 ₹2 Cr | Mar 2023 ₹33 Cr | Jun 2023 ₹65 Cr | Sep 2023 ₹59 Cr | Dec 2023 ₹21 Cr | Mar 2024 ₹54 Cr | Jun 2024 ₹74 Cr | Sep 2024 ₹56 Cr | Dec 2024 ₹30 Cr | Mar 2025 ₹31 Cr | Jun 2025 ₹64 Cr | Sep 2025 ₹51 Cr | Dec 2025 ₹30 Cr | Mar 2026 ₹28 Cr
- PK: Jun 2021 ₹-115 Cr | Sep 2021 ₹-82 Cr | Dec 2021 ₹-65 Cr | Mar 2022 ₹-56 Cr | Jun 2022 ₹154 Cr | Sep 2022 ₹40 Cr | Dec 2022 ₹35 Cr | Mar 2023 ₹33 Cr | Jun 2023 ₹-146 Cr | Sep 2023 ₹31 Cr | Dec 2023 ₹188 Cr | Mar 2024 ₹29 Cr | Jun 2024 ₹67 Cr | Sep 2024 ₹57 Cr | Dec 2024 ₹73 Cr | Mar 2025 ₹-57 Cr | Jun 2025 ₹-2 Cr | Sep 2025 ₹-14 Cr | Dec 2025 ₹-204 Cr | Mar 2026 ₹12 Cr
- DRH: Jun 2021 ₹-19 Cr | Sep 2021 ₹-2 Cr | Dec 2021 ₹-3 Cr | Mar 2022 ₹10 Cr | Jun 2022 ₹53 Cr | Sep 2022 ₹29 Cr | Dec 2022 ₹18 Cr | Mar 2023 ₹9 Cr | Jun 2023 ₹39 Cr | Sep 2023 ₹27 Cr | Dec 2023 ₹11 Cr | Mar 2024 ₹8 Cr | Jun 2024 ₹25 Cr | Sep 2024 ₹27 Cr | Dec 2024 ₹-11 Cr | Mar 2025 ₹12 Cr | Jun 2025 ₹41 Cr | Sep 2025 ₹23 Cr | Dec 2025 ₹26 Cr | Mar 2026 ₹15 Cr
- PEB: Jun 2021 ₹1 Cr | Sep 2021 ₹-24 Cr | Dec 2021 ₹-43 Cr | Mar 2022 ₹-100 Cr | Jun 2022 ₹29 Cr | Sep 2022 ₹26 Cr | Dec 2022 ₹-40 Cr | Mar 2023 ₹-22 Cr | Jun 2023 ₹46 Cr | Sep 2023 ₹-56 Cr | Dec 2023 ₹-42 Cr | Mar 2024 ₹-28 Cr | Jun 2024 ₹32 Cr | Sep 2024 ₹45 Cr | Dec 2024 ₹-50 Cr | Mar 2025 ₹-32 Cr | Jun 2025 ₹19 Cr | Sep 2025 ₹-32 Cr | Dec 2025 ₹-17 Cr | Mar 2026 ₹-18 Cr
- SHO: Jun 2021 ₹-28 Cr | Sep 2021 ₹-22 Cr | Dec 2021 ₹138 Cr | Mar 2022 ₹15 Cr | Jun 2022 ₹38 Cr | Sep 2022 ₹20 Cr | Dec 2022 ₹17 Cr | Mar 2023 ₹21 Cr | Jun 2023 ₹43 Cr | Sep 2023 ₹16 Cr | Dec 2023 ₹127 Cr | Mar 2024 ₹13 Cr | Jun 2024 ₹26 Cr | Sep 2024 ₹3 Cr | Dec 2024 ₹1 Cr | Mar 2025 ₹5 Cr | Jun 2025 ₹11 Cr | Sep 2025 ₹1 Cr | Dec 2025 ₹7 Cr | Mar 2026 ₹19 Cr
- XHR: Jun 2021 ₹-43 Cr | Sep 2021 ₹-23 Cr | Dec 2021 ₹-23 Cr | Mar 2022 ₹-5 Cr | Jun 2022 ₹28 Cr | Sep 2022 ₹-2 Cr | Dec 2022 ₹36 Cr | Mar 2023 ₹7 Cr | Jun 2023 ₹14 Cr | Sep 2023 ₹-9 Cr | Dec 2023 ₹8 Cr | Mar 2024 ₹9 Cr | Jun 2024 ₹16 Cr | Sep 2024 ₹-7 Cr | Dec 2024 ₹-1 Cr | Mar 2025 ₹17 Cr | Jun 2025 ₹59 Cr | Sep 2025 ₹-15 Cr | Dec 2025 ₹6 Cr | Mar 2026 ₹21 Cr
- RLJ: Jun 2021 ₹-52 Cr | Sep 2021 ₹-152 Cr | Dec 2021 ₹-28 Cr | Mar 2022 ₹-15 Cr | Jun 2022 ₹33 Cr | Sep 2022 ₹18 Cr | Dec 2022 ₹7 Cr | Mar 2023 ₹11 Cr | Jun 2023 ₹42 Cr | Sep 2023 ₹16 Cr | Dec 2023 ₹8 Cr | Mar 2024 ₹5 Cr | Jun 2024 ₹37 Cr | Sep 2024 ₹21 Cr | Dec 2024 ₹6 Cr | Mar 2025 ₹3 Cr | Jun 2025 ₹29 Cr | Sep 2025 ₹-4 Cr | Dec 2025 ₹1 Cr | Mar 2026 ₹0 Cr
- SVC: Jun 2021 ₹-91 Cr | Sep 2021 ₹-62 Cr | Dec 2021 ₹-202 Cr | Mar 2022 ₹-118 Cr | Jun 2022 ₹10 Cr | Sep 2022 ₹5 Cr | Dec 2022 ₹-34 Cr | Mar 2023 ₹23 Cr | Jun 2023 ₹-1 Cr | Sep 2023 ₹-10 Cr | Dec 2023 ₹-42 Cr | Mar 2024 ₹-71 Cr | Jun 2024 ₹-70 Cr | Sep 2024 ₹-50 Cr | Dec 2024 ₹-69 Cr | Mar 2025 ₹-111 Cr | Jun 2025 ₹-37 Cr | Sep 2025 ₹-48 Cr | Dec 2025 ₹-24 Cr | Mar 2026 ₹-146 Cr
- INN: Jun 2021 ₹-21 Cr | Sep 2021 ₹-4 Cr | Dec 2021 ₹-11 Cr | Mar 2022 ₹-9 Cr | Jun 2022 ₹23 Cr | Sep 2022 ₹-1 Cr | Dec 2022 ₹-12 Cr | Mar 2023 ₹-2 Cr | Jun 2023 ₹1 Cr | Sep 2023 ₹-6 Cr | Dec 2023 ₹-21 Cr | Mar 2024 ₹3 Cr | Jun 2024 ₹39 Cr | Sep 2024 ₹-4 Cr | Dec 2024 ₹1 Cr | Mar 2025 ₹1 Cr | Jun 2025 ₹2 Cr | Sep 2025 ₹-12 Cr | Dec 2025 ₹-3 Cr | Mar 2026 ₹-6 Cr
- CLDT: Jun 2021 ₹-9 Cr | Sep 2021 ₹-1 Cr | Dec 2021 ₹-11 Cr | Mar 2022 ₹-10 Cr | Jun 2022 ₹9 Cr | Sep 2022 ₹12 Cr | Dec 2022 ₹-2 Cr | Mar 2023 ₹-5 Cr | Jun 2023 ₹9 Cr | Sep 2023 ₹7 Cr | Dec 2023 ₹-9 Cr | Mar 2024 ₹-5 Cr | Jun 2024 ₹7 Cr | Sep 2024 ₹4 Cr | Dec 2024 ₹-2 Cr | Mar 2025 ₹2 Cr | Jun 2025 ₹5 Cr | Sep 2025 ₹4 Cr | Dec 2025 ₹5 Cr | Mar 2026 ₹-5 Cr
- BHR: Jun 2021 ₹-11 Cr | Sep 2021 ₹-8 Cr | Dec 2021 ₹-2 Cr | Mar 2022 ₹16 Cr | Jun 2022 ₹17 Cr | Sep 2022 ₹-8 Cr | Dec 2022 ₹-5 Cr | Mar 2023 ₹17 Cr | Jun 2023 ₹-3 Cr | Sep 2023 ₹-23 Cr | Dec 2023 ₹-21 Cr | Mar 2024 ₹15 Cr | Jun 2024 ₹-14 Cr | Sep 2024 ₹40 Cr | Dec 2024 ₹-22 Cr | Mar 2025 ₹11 Cr | Jun 2025 ₹-7 Cr | Sep 2025 ₹5 Cr | Dec 2025 ₹-37 Cr | Mar 2026 ₹18 Cr

### 20-quarter Profit growth history
- HST: Jun 2021 — | Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 -54% | Mar 2023 147% | Jun 2023 -18% | Sep 2023 -2.6% | Dec 2023 -10% | Mar 2024 -6.5% | Jun 2024 13% | Sep 2024 -26% | Dec 2024 -19% | Mar 2025 -7.7% | Jun 2025 -7.0% | Sep 2025 94% | Dec 2025 26% | Mar 2026 100%
- RHP: Jun 2021 — | Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 37% | Sep 2023 -13% | Dec 2023 179% | Mar 2024 -30% | Jun 2024 50% | Sep 2024 46% | Dec 2024 -58% | Mar 2025 47% | Jun 2025 -28% | Sep 2025 -43% | Dec 2025 2.8% | Mar 2026 9.5%
- APLE: Jun 2021 — | Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 225% | Sep 2022 84% | Dec 2022 -85% | Mar 2023 83% | Jun 2023 0.0% | Sep 2023 0.0% | Dec 2023 950% | Mar 2024 64% | Jun 2024 14% | Sep 2024 -5.1% | Dec 2024 43% | Mar 2025 -43% | Jun 2025 -14% | Sep 2025 -8.9% | Dec 2025 0.0% | Mar 2026 -9.7%
- PK: Jun 2021 — | Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 -195% | Sep 2023 -23% | Dec 2023 437% | Mar 2024 -12% | Jun 2024 — | Sep 2024 84% | Dec 2024 -61% | Mar 2025 -297% | Jun 2025 -103% | Sep 2025 -125% | Dec 2025 -379% | Mar 2026 —
- DRH: Jun 2021 — | Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 -10% | Jun 2023 -26% | Sep 2023 -6.9% | Dec 2023 -39% | Mar 2024 -11% | Jun 2024 -36% | Sep 2024 0.0% | Dec 2024 -200% | Mar 2025 50% | Jun 2025 64% | Sep 2025 -15% | Dec 2025 — | Mar 2026 25%
- PEB: Jun 2021 — | Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 2,800% | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 59% | Sep 2023 -315% | Dec 2023 — | Mar 2024 — | Jun 2024 -30% | Sep 2024 — | Dec 2024 — | Mar 2025 — | Jun 2025 -41% | Sep 2025 -171% | Dec 2025 — | Mar 2026 —
- SHO: Jun 2021 — | Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 -88% | Mar 2023 40% | Jun 2023 13% | Sep 2023 -20% | Dec 2023 647% | Mar 2024 -38% | Jun 2024 -40% | Sep 2024 -81% | Dec 2024 -99% | Mar 2025 -62% | Jun 2025 -58% | Sep 2025 -67% | Dec 2025 600% | Mar 2026 280%
- XHR: Jun 2021 — | Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 -50% | Sep 2023 — | Dec 2023 -78% | Mar 2024 29% | Jun 2024 14% | Sep 2024 — | Dec 2024 -113% | Mar 2025 89% | Jun 2025 269% | Sep 2025 — | Dec 2025 — | Mar 2026 24%
- RLJ: Jun 2021 — | Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 27% | Sep 2023 -11% | Dec 2023 14% | Mar 2024 -55% | Jun 2024 -12% | Sep 2024 31% | Dec 2024 -25% | Mar 2025 -40% | Jun 2025 -22% | Sep 2025 -119% | Dec 2025 -83% | Mar 2026 -100%
- SVC: Jun 2021 — | Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 -110% | Sep 2023 -300% | Dec 2023 — | Mar 2024 -409% | Jun 2024 — | Sep 2024 — | Dec 2024 — | Mar 2025 — | Jun 2025 — | Sep 2025 — | Dec 2025 — | Mar 2026 —
- INN: Jun 2021 — | Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 -96% | Sep 2023 — | Dec 2023 — | Mar 2024 — | Jun 2024 3,800% | Sep 2024 — | Dec 2024 — | Mar 2025 -67% | Jun 2025 -95% | Sep 2025 — | Dec 2025 -400% | Mar 2026 -700%
- CLDT: Jun 2021 — | Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 0.0% | Sep 2023 -42% | Dec 2023 — | Mar 2024 — | Jun 2024 -22% | Sep 2024 -43% | Dec 2024 — | Mar 2025 — | Jun 2025 -29% | Sep 2025 0.0% | Dec 2025 — | Mar 2026 -350%
- BHR: Jun 2021 — | Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 6.3% | Jun 2023 -118% | Sep 2023 — | Dec 2023 — | Mar 2024 -12% | Jun 2024 — | Sep 2024 — | Dec 2024 — | Mar 2025 -27% | Jun 2025 — | Sep 2025 -88% | Dec 2025 — | Mar 2026 64%

## Funding Base & Its Composition

What the numbers say: There is not enough comparable evidence to name a reliable deposits leader.

Investor read: The current leader sets the level benchmark; use the change leader as an inflection watch only after another comparable report confirms it.

This conclusion weakens if: The next two comparable reports reverse the current borrowings signal.

Evidence: No comparable leader | Not enough peers | Not enough history | 0/13 companies · 0 observations

Definition: For banks, debt is operating funding rather than industrial leverage. Deposits and borrowings are therefore shown as funding-base levels; asset quality, funding cost and liquidity determine whether that funding is attractive.

### Deposits — largest deposit bases

### Borrowings — largest borrowings
1. Host Hotels & Resorts, Inc. (HST): ₹5.6K Cr
2. Service Properties Trust (SVC): ₹5.1K Cr
3. Ryman Hospitality Properties, Inc. (RHP): ₹4.1K Cr
4. Park Hotels & Resorts Inc. (PK): ₹4.0K Cr
5. Pebblebrook Hotel Trust (PEB): ₹2.4K Cr

### 20-quarter Deposits history

### 20-quarter Borrowings history
- HST: Jun 2021 ₹6.1K Cr | Sep 2021 ₹6.1K Cr | Dec 2021 ₹5.5K Cr | Mar 2022 ₹4.8K Cr | Jun 2022 ₹4.8K Cr | Sep 2022 ₹4.8K Cr | Dec 2022 ₹4.8K Cr | Mar 2023 ₹4.8K Cr | Jun 2023 ₹4.8K Cr | Sep 2023 ₹4.8K Cr | Dec 2023 ₹4.8K Cr | Mar 2024 ₹5.1K Cr | Jun 2024 ₹5.0K Cr | Sep 2024 ₹5.6K Cr | Dec 2024 ₹5.6K Cr | Mar 2025 ₹5.6K Cr | Jun 2025 ₹5.6K Cr | Sep 2025 ₹5.6K Cr | Dec 2025 ₹5.6K Cr | Mar 2026 ₹5.6K Cr
- RHP: Jun 2021 ₹3.1K Cr | Sep 2021 ₹3.0K Cr | Dec 2021 ₹3.1K Cr | Mar 2022 ₹3.1K Cr | Jun 2022 ₹3.0K Cr | Sep 2022 ₹3.0K Cr | Dec 2022 ₹3.0K Cr | Mar 2023 ₹3.0K Cr | Jun 2023 ₹3.5K Cr | Sep 2023 ₹3.5K Cr | Dec 2023 ₹3.5K Cr | Mar 2024 ₹3.5K Cr | Jun 2024 ₹3.5K Cr | Sep 2024 ₹3.5K Cr | Dec 2024 ₹3.5K Cr | Mar 2025 ₹3.5K Cr | Jun 2025 ₹4.1K Cr | Sep 2025 ₹4.1K Cr | Dec 2025 ₹4.1K Cr | Mar 2026 ₹4.1K Cr
- APLE: Jun 2021 ₹1.6K Cr | Sep 2021 ₹1.5K Cr | Dec 2021 ₹1.6K Cr | Mar 2022 ₹1.5K Cr | Jun 2022 ₹1.5K Cr | Sep 2022 ₹1.4K Cr | Dec 2022 ₹1.5K Cr | Mar 2023 ₹1.5K Cr | Jun 2023 ₹1.5K Cr | Sep 2023 ₹1.5K Cr | Dec 2023 ₹1.5K Cr | Mar 2024 ₹1.6K Cr | Jun 2024 ₹1.6K Cr | Sep 2024 ₹1.6K Cr | Dec 2024 ₹1.6K Cr | Mar 2025 ₹1.6K Cr | Jun 2025 ₹1.6K Cr | Sep 2025 ₹1.6K Cr | Dec 2025 ₹1.7K Cr | Mar 2026 ₹1.7K Cr
- PK: Jun 2021 ₹5.3K Cr | Sep 2021 ₹4.9K Cr | Dec 2021 ₹4.9K Cr | Mar 2022 ₹4.9K Cr | Jun 2022 ₹4.9K Cr | Sep 2022 ₹4.9K Cr | Dec 2022 ₹4.9K Cr | Mar 2023 ₹4.8K Cr | Jun 2023 ₹4.7K Cr | Sep 2023 ₹4.7K Cr | Dec 2023 ₹4.7K Cr | Mar 2024 ₹4.7K Cr | Jun 2024 ₹4.8K Cr | Sep 2024 ₹4.8K Cr | Dec 2024 ₹4.8K Cr | Mar 2025 ₹4.8K Cr | Jun 2025 ₹4.8K Cr | Sep 2025 ₹4.8K Cr | Dec 2025 ₹4.0K Cr | Mar 2026 ₹4.0K Cr
- DRH: Jun 2021 ₹1.1K Cr | Sep 2021 ₹1.1K Cr | Dec 2021 ₹1.2K Cr | Mar 2022 ₹1.3K Cr | Jun 2022 ₹1.3K Cr | Sep 2022 ₹1.5K Cr | Dec 2022 ₹1.3K Cr | Mar 2023 ₹1.3K Cr | Jun 2023 ₹1.3K Cr | Sep 2023 ₹1.3K Cr | Dec 2023 ₹1.3K Cr | Mar 2024 ₹1.3K Cr | Jun 2024 ₹1.3K Cr | Sep 2024 ₹1.2K Cr | Dec 2024 ₹1.2K Cr | Mar 2025 ₹1.2K Cr | Jun 2025 ₹1.1K Cr | Sep 2025 ₹1.2K Cr | Dec 2025 ₹1.2K Cr | Mar 2026 ₹1.2K Cr
- PEB: Jun 2021 ₹2.5K Cr | Sep 2021 ₹2.7K Cr | Dec 2021 ₹2.8K Cr | Mar 2022 ₹2.8K Cr | Jun 2022 ₹2.8K Cr | Sep 2022 ₹2.7K Cr | Dec 2022 ₹2.7K Cr | Mar 2023 ₹2.7K Cr | Jun 2023 ₹2.7K Cr | Sep 2023 ₹2.7K Cr | Dec 2023 ₹2.6K Cr | Mar 2024 ₹2.5K Cr | Jun 2024 ₹2.5K Cr | Sep 2024 ₹2.5K Cr | Dec 2024 ₹2.6K Cr | Mar 2025 ₹2.6K Cr | Jun 2025 ₹2.6K Cr | Sep 2025 ₹2.6K Cr | Dec 2025 ₹2.5K Cr | Mar 2026 ₹2.4K Cr
- SHO: Jun 2021 ₹787 Cr | Sep 2021 ₹785 Cr | Dec 2021 ₹635 Cr | Mar 2022 ₹596 Cr | Jun 2022 ₹824 Cr | Sep 2022 ₹831 Cr | Dec 2022 ₹832 Cr | Mar 2023 ₹828 Cr | Jun 2023 ₹829 Cr | Sep 2023 ₹833 Cr | Dec 2023 ₹831 Cr | Mar 2024 ₹830 Cr | Jun 2024 ₹829 Cr | Sep 2024 ₹827 Cr | Dec 2024 ₹853 Cr | Mar 2025 ₹853 Cr | Jun 2025 ₹879 Cr | Sep 2025 ₹926 Cr | Dec 2025 ₹925 Cr | Mar 2026 ₹950 Cr
- XHR: Jun 2021 ₹1.5K Cr | Sep 2021 ₹1.5K Cr | Dec 2021 ₹1.5K Cr | Mar 2022 ₹1.4K Cr | Jun 2022 ₹1.4K Cr | Sep 2022 ₹1.4K Cr | Dec 2022 ₹1.4K Cr | Mar 2023 ₹1.4K Cr | Jun 2023 ₹1.4K Cr | Sep 2023 ₹1.4K Cr | Dec 2023 ₹1.4K Cr | Mar 2024 ₹1.4K Cr | Jun 2024 ₹1.4K Cr | Sep 2024 ₹1.4K Cr | Dec 2024 ₹1.3K Cr | Mar 2025 ₹1.4K Cr | Jun 2025 ₹1.4K Cr | Sep 2025 ₹1.4K Cr | Dec 2025 ₹1.4K Cr | Mar 2026 ₹1.4K Cr
- RLJ: Jun 2021 ₹2.5K Cr | Sep 2021 ₹2.5K Cr | Dec 2021 ₹2.5K Cr | Mar 2022 ₹2.3K Cr | Jun 2022 ₹2.3K Cr | Sep 2022 ₹2.3K Cr | Dec 2022 ₹2.3K Cr | Mar 2023 ₹2.3K Cr | Jun 2023 ₹2.3K Cr | Sep 2023 ₹2.3K Cr | Dec 2023 ₹2.3K Cr | Mar 2024 ₹2.3K Cr | Jun 2024 ₹2.3K Cr | Sep 2024 ₹2.3K Cr | Dec 2024 ₹2.3K Cr | Mar 2025 ₹2.3K Cr | Jun 2025 ₹2.3K Cr | Sep 2025 ₹2.3K Cr | Dec 2025 ₹2.3K Cr | Mar 2026 ₹2.3K Cr
- SVC: Jun 2021 ₹7.1K Cr | Sep 2021 ₹7.1K Cr | Dec 2021 ₹7.1K Cr | Mar 2022 ₹7.1K Cr | Jun 2022 ₹6.5K Cr | Sep 2022 ₹5.7K Cr | Dec 2022 ₹5.7K Cr | Mar 2023 ₹5.7K Cr | Jun 2023 ₹5.7K Cr | Sep 2023 ₹5.7K Cr | Dec 2023 ₹5.5K Cr | Mar 2024 ₹5.5K Cr | Jun 2024 ₹5.5K Cr | Sep 2024 ₹5.6K Cr | Dec 2024 ₹5.7K Cr | Mar 2025 ₹5.7K Cr | Jun 2025 ₹5.7K Cr | Sep 2025 ₹5.8K Cr | Dec 2025 ₹5.3K Cr | Mar 2026 ₹5.1K Cr
- INN: Jun 2021 ₹1.1K Cr | Sep 2021 ₹1.1K Cr | Dec 2021 ₹1.1K Cr | Mar 2022 ₹1.5K Cr | Jun 2022 ₹1.5K Cr | Sep 2022 ₹1.5K Cr | Dec 2022 ₹1.5K Cr | Mar 2023 ₹1.5K Cr | Jun 2023 ₹1.5K Cr | Sep 2023 ₹1.5K Cr | Dec 2023 ₹1.5K Cr | Mar 2024 ₹1.5K Cr | Jun 2024 ₹1.4K Cr | Sep 2024 ₹1.4K Cr | Dec 2024 ₹1.4K Cr | Mar 2025 ₹1.4K Cr | Jun 2025 ₹1.5K Cr | Sep 2025 ₹1.4K Cr | Dec 2025 ₹1.4K Cr | Mar 2026 ₹1.4K Cr
- CLDT: Jun 2021 ₹622 Cr | Sep 2021 ₹567 Cr | Dec 2021 ₹567 Cr | Mar 2022 ₹608 Cr | Jun 2022 ₹511 Cr | Sep 2022 ₹494 Cr | Dec 2022 ₹492 Cr | Mar 2023 ₹491 Cr | Jun 2023 ₹487 Cr | Sep 2023 ₹507 Cr | Dec 2023 ₹505 Cr | Mar 2024 ₹503 Cr | Jun 2024 ₹471 Cr | Sep 2024 ₹457 Cr | Dec 2024 ₹427 Cr | Mar 2025 ₹402 Cr | Jun 2025 ₹372 Cr | Sep 2025 ₹359 Cr | Dec 2025 ₹359 Cr | Mar 2026 ₹444 Cr
- BHR: Jun 2021 ₹1.2K Cr | Sep 2021 ₹1.2K Cr | Dec 2021 ₹1.2K Cr | Mar 2022 ₹1.3K Cr | Jun 2022 ₹1.3K Cr | Sep 2022 ₹1.3K Cr | Dec 2022 ₹1.3K Cr | Mar 2023 ₹1.3K Cr | Jun 2023 ₹1.2K Cr | Sep 2023 ₹1.2K Cr | Dec 2023 ₹1.2K Cr | Mar 2024 ₹1.3K Cr | Jun 2024 ₹1.1K Cr | Sep 2024 ₹1.2K Cr | Dec 2024 ₹1.2K Cr | Mar 2025 ₹1.2K Cr | Jun 2025 ₹1.2K Cr | Sep 2025 ₹1.2K Cr | Dec 2025 ₹1.1K Cr | Mar 2026 ₹1.1K Cr

## Return On Assets

What the numbers say: Host Hotels & Resorts, Inc. leads roa at 2.4%; RLJ Lodging Trust leads roa change at +1.9 percentage points.

Investor read: Host Hotels & Resorts, Inc. sets the level benchmark; use the change leader as an inflection watch only after another comparable report confirms it.

This conclusion weakens if: The next two comparable reports reverse the current roa change signal.

Evidence: Host Hotels & Resorts, Inc. · 2.4% | 0% versus #2 · RLJ Lodging Trust | 3/8 recent comparable periods | 13/13 companies · 247 observations

Definition: ROA is the cleanest first comparison for lenders because the balance sheet is the operating asset.

### ROA — highest
1. Host Hotels & Resorts, Inc. (HST): 2.4%
2. RLJ Lodging Trust (RLJ): 2.4%
3. Ryman Hospitality Properties, Inc. (RHP): 2.2%
4. Braemar Hotels & Resorts Inc. (BHR): 1.9%
5. Xenia Hotels & Resorts, Inc. (XHR): 1.5%

### ROA change — fastest improvers
1. RLJ Lodging Trust (RLJ): +1.9 pp
2. Park Hotels & Resorts Inc. (PK): +0.8 pp
3. Braemar Hotels & Resorts Inc. (BHR): +0.4 pp
4. Sunstone Hotel Investors, Inc. (SHO): +0.4 pp
5. DiamondRock Hospitality Company (DRH): +0.2 pp

### 20-quarter ROA history
- HST: Jun 2021 — | Sep 2021 -0.7% | Dec 2021 0.6% | Mar 2022 1.1% | Jun 2022 2.3% | Sep 2022 1.1% | Dec 2022 1.5% | Mar 2023 2.1% | Jun 2023 1.9% | Sep 2023 1.1% | Dec 2023 1.3% | Mar 2024 2.4% | Jun 2024 2.2% | Sep 2024 1.0% | Dec 2024 1.3% | Mar 2025 2.3% | Jun 2025 1.9% | Sep 2025 0.7% | Dec 2025 1.4% | Mar 2026 2.4%
- RHP: Jun 2021 — | Sep 2021 0.8% | Dec 2021 0.6% | Mar 2022 0.2% | Jun 2022 2.1% | Sep 2022 2.1% | Dec 2022 2.6% | Mar 2023 2.7% | Jun 2023 2.6% | Sep 2023 2.1% | Dec 2023 6.6% | Mar 2024 2.1% | Jun 2024 3.0% | Sep 2024 2.0% | Dec 2024 2.3% | Mar 2025 2.1% | Jun 2025 2.2% | Sep 2025 1.7% | Dec 2025 2.5% | Mar 2026 2.2%
- APLE: Jun 2021 — | Sep 2021 1.0% | Dec 2021 0.6% | Mar 2022 0.7% | Jun 2022 1.7% | Sep 2022 1.6% | Dec 2022 0.3% | Mar 2023 1.0% | Jun 2023 1.7% | Sep 2023 1.6% | Dec 2023 0.8% | Mar 2024 1.5% | Jun 2024 1.9% | Sep 2024 1.6% | Dec 2024 1.0% | Mar 2025 1.0% | Jun 2025 1.7% | Sep 2025 1.5% | Dec 2025 1.0% | Mar 2026 1.0%
- PK: Jun 2021 — | Sep 2021 0.0% | Dec 2021 0.0% | Mar 2022 0.0% | Jun 2022 1.2% | Sep 2022 0.9% | Dec 2022 0.8% | Mar 2023 0.6% | Jun 2023 -1.1% | Sep 2023 0.9% | Dec 2023 0.5% | Mar 2024 0.8% | Jun 2024 1.4% | Sep 2024 0.8% | Dec 2024 2.2% | Mar 2025 -0.1% | Jun 2025 1.1% | Sep 2025 0.8% | Dec 2025 -2.1% | Mar 2026 0.7%
- DRH: Jun 2021 — | Sep 2021 1.7% | Dec 2021 2.7% | Mar 2022 0.5% | Jun 2022 2.1% | Sep 2022 1.5% | Dec 2022 1.3% | Mar 2023 1.1% | Jun 2023 1.7% | Sep 2023 1.6% | Dec 2023 0.8% | Mar 2024 0.6% | Jun 2024 1.3% | Sep 2024 1.4% | Dec 2024 0.1% | Mar 2025 0.7% | Jun 2025 1.8% | Sep 2025 1.4% | Dec 2025 1.1% | Mar 2026 0.9%
- PEB: Jun 2021 — | Sep 2021 0.0% | Dec 2021 -0.3% | Mar 2022 -1.3% | Jun 2022 0.8% | Sep 2022 0.8% | Dec 2022 -0.2% | Mar 2023 0.1% | Jun 2023 1.2% | Sep 2023 -0.4% | Dec 2023 -0.3% | Mar 2024 0.0% | Jun 2024 1.0% | Sep 2024 1.8% | Dec 2024 -0.4% | Mar 2025 -0.1% | Jun 2025 0.7% | Sep 2025 -0.2% | Dec 2025 0.1% | Mar 2026 0.1%
- SHO: Jun 2021 — | Sep 2021 -0.5% | Dec 2021 -0.2% | Mar 2022 -0.2% | Jun 2022 1.4% | Sep 2022 1.0% | Dec 2022 1.5% | Mar 2023 0.8% | Jun 2023 1.6% | Sep 2023 0.9% | Dec 2023 0.6% | Mar 2024 0.5% | Jun 2024 1.2% | Sep 2024 0.4% | Dec 2024 0.3% | Mar 2025 0.5% | Jun 2025 1.0% | Sep 2025 0.4% | Dec 2025 0.5% | Mar 2026 0.9%
- XHR: Jun 2021 — | Sep 2021 0.0% | Dec 2021 0.0% | Mar 2022 0.3% | Jun 2022 1.8% | Sep 2022 0.7% | Dec 2022 0.8% | Mar 2023 1.6% | Jun 2023 1.3% | Sep 2023 0.3% | Dec 2023 0.0% | Mar 2024 1.0% | Jun 2024 0.7% | Sep 2024 0.3% | Dec 2024 0.3% | Mar 2025 1.3% | Jun 2025 1.4% | Sep 2025 0.2% | Dec 2025 0.9% | Mar 2026 1.5%
- RLJ: Jun 2021 — | Sep 2021 0.1% | Dec 2021 0.0% | Mar 2022 0.0% | Jun 2022 1.1% | Sep 2022 0.8% | Dec 2022 0.5% | Mar 2023 0.6% | Jun 2023 1.2% | Sep 2023 0.7% | Dec 2023 0.5% | Mar 2024 0.4% | Jun 2024 1.1% | Sep 2024 0.8% | Dec 2024 0.5% | Mar 2025 0.5% | Jun 2025 1.1% | Sep 2025 0.5% | Dec 2025 0.4% | Mar 2026 2.4%
- SVC: Jun 2021 — | Sep 2021 0.1% | Dec 2021 -1.2% | Mar 2022 -0.2% | Jun 2022 0.8% | Sep 2022 0.7% | Dec 2022 0.6% | Mar 2023 0.2% | Jun 2023 1.7% | Sep 2023 0.7% | Dec 2023 0.5% | Mar 2024 0.3% | Jun 2024 0.5% | Sep 2024 0.6% | Dec 2024 0.3% | Mar 2025 -0.2% | Jun 2025 0.9% | Sep 2025 0.4% | Dec 2025 0.0% | Mar 2026 0.0%
- INN: Jun 2021 — | Sep 2021 0.2% | Dec 2021 -0.1% | Mar 2022 0.0% | Jun 2022 2.0% | Sep 2022 0.5% | Dec 2022 0.3% | Mar 2023 0.7% | Jun 2023 1.1% | Sep 2023 0.4% | Dec 2023 0.0% | Mar 2024 0.8% | Jun 2024 2.0% | Sep 2024 0.5% | Dec 2024 0.6% | Mar 2025 1.0% | Jun 2025 1.1% | Sep 2025 0.3% | Dec 2025 0.6% | Mar 2026 0.4%
- CLDT: Jun 2021 — | Sep 2021 0.3% | Dec 2021 0.0% | Mar 2022 -0.2% | Jun 2022 1.0% | Sep 2022 1.3% | Dec 2022 0.3% | Mar 2023 0.1% | Jun 2023 1.1% | Sep 2023 1.0% | Dec 2023 0.1% | Mar 2024 0.1% | Jun 2024 1.1% | Sep 2024 0.9% | Dec 2024 0.3% | Mar 2025 0.1% | Jun 2025 0.9% | Sep 2025 0.8% | Dec 2025 0.3% | Mar 2026 0.1%
- BHR: Jun 2021 — | Sep 2021 0.1% | Dec 2021 0.5% | Mar 2022 1.2% | Jun 2022 1.3% | Sep 2022 0.2% | Dec 2022 0.6% | Mar 2023 1.5% | Jun 2023 0.8% | Sep 2023 0.0% | Dec 2023 0.3% | Mar 2024 1.7% | Jun 2024 0.5% | Sep 2024 3.2% | Dec 2024 0.2% | Mar 2025 1.5% | Jun 2025 0.8% | Sep 2025 1.7% | Dec 2025 -0.6% | Mar 2026 1.9%

### 20-quarter ROA change history
- HST: Jun 2021 — | Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 +1.8 pp | Dec 2022 +0.9 pp | Mar 2023 +1.0 pp | Jun 2023 −0.4 pp | Sep 2023 0.0 pp | Dec 2023 −0.2 pp | Mar 2024 +0.3 pp | Jun 2024 +0.3 pp | Sep 2024 −0.1 pp | Dec 2024 0.0 pp | Mar 2025 −0.1 pp | Jun 2025 −0.3 pp | Sep 2025 −0.3 pp | Dec 2025 +0.1 pp | Mar 2026 +0.1 pp
- RHP: Jun 2021 — | Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 +1.3 pp | Dec 2022 +2.0 pp | Mar 2023 +2.5 pp | Jun 2023 +0.5 pp | Sep 2023 0.0 pp | Dec 2023 +4.0 pp | Mar 2024 −0.6 pp | Jun 2024 +0.4 pp | Sep 2024 −0.1 pp | Dec 2024 −4.3 pp | Mar 2025 0.0 pp | Jun 2025 −0.8 pp | Sep 2025 −0.3 pp | Dec 2025 +0.2 pp | Mar 2026 +0.1 pp
- APLE: Jun 2021 — | Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 +0.6 pp | Dec 2022 −0.3 pp | Mar 2023 +0.3 pp | Jun 2023 0.0 pp | Sep 2023 0.0 pp | Dec 2023 +0.5 pp | Mar 2024 +0.5 pp | Jun 2024 +0.2 pp | Sep 2024 0.0 pp | Dec 2024 +0.2 pp | Mar 2025 −0.5 pp | Jun 2025 −0.2 pp | Sep 2025 −0.1 pp | Dec 2025 0.0 pp | Mar 2026 0.0 pp
- PK: Jun 2021 — | Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 +0.9 pp | Dec 2022 +0.8 pp | Mar 2023 +0.6 pp | Jun 2023 −2.3 pp | Sep 2023 0.0 pp | Dec 2023 −0.3 pp | Mar 2024 +0.2 pp | Jun 2024 +2.5 pp | Sep 2024 −0.1 pp | Dec 2024 +1.7 pp | Mar 2025 −0.9 pp | Jun 2025 −0.3 pp | Sep 2025 0.0 pp | Dec 2025 −4.3 pp | Mar 2026 +0.8 pp
- DRH: Jun 2021 — | Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 −0.2 pp | Dec 2022 −1.4 pp | Mar 2023 +0.6 pp | Jun 2023 −0.4 pp | Sep 2023 +0.1 pp | Dec 2023 −0.5 pp | Mar 2024 −0.5 pp | Jun 2024 −0.4 pp | Sep 2024 −0.2 pp | Dec 2024 −0.7 pp | Mar 2025 +0.1 pp | Jun 2025 +0.5 pp | Sep 2025 0.0 pp | Dec 2025 +1.0 pp | Mar 2026 +0.2 pp
- PEB: Jun 2021 — | Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 +0.8 pp | Dec 2022 +0.1 pp | Mar 2023 +1.4 pp | Jun 2023 +0.4 pp | Sep 2023 −1.2 pp | Dec 2023 −0.1 pp | Mar 2024 −0.1 pp | Jun 2024 −0.2 pp | Sep 2024 +2.2 pp | Dec 2024 −0.1 pp | Mar 2025 −0.1 pp | Jun 2025 −0.3 pp | Sep 2025 −2.0 pp | Dec 2025 +0.5 pp | Mar 2026 +0.2 pp
- SHO: Jun 2021 — | Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 +1.5 pp | Dec 2022 +1.7 pp | Mar 2023 +1.0 pp | Jun 2023 +0.2 pp | Sep 2023 −0.1 pp | Dec 2023 −0.9 pp | Mar 2024 −0.3 pp | Jun 2024 −0.4 pp | Sep 2024 −0.5 pp | Dec 2024 −0.3 pp | Mar 2025 0.0 pp | Jun 2025 −0.2 pp | Sep 2025 0.0 pp | Dec 2025 +0.2 pp | Mar 2026 +0.4 pp
- XHR: Jun 2021 — | Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 +0.7 pp | Dec 2022 +0.8 pp | Mar 2023 +1.3 pp | Jun 2023 −0.5 pp | Sep 2023 −0.4 pp | Dec 2023 −0.8 pp | Mar 2024 −0.6 pp | Jun 2024 −0.6 pp | Sep 2024 0.0 pp | Dec 2024 +0.3 pp | Mar 2025 +0.3 pp | Jun 2025 +0.7 pp | Sep 2025 −0.1 pp | Dec 2025 +0.6 pp | Mar 2026 +0.2 pp
- RLJ: Jun 2021 — | Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 +0.7 pp | Dec 2022 +0.5 pp | Mar 2023 +0.6 pp | Jun 2023 +0.1 pp | Sep 2023 −0.1 pp | Dec 2023 0.0 pp | Mar 2024 −0.2 pp | Jun 2024 −0.1 pp | Sep 2024 +0.1 pp | Dec 2024 0.0 pp | Mar 2025 +0.1 pp | Jun 2025 0.0 pp | Sep 2025 −0.3 pp | Dec 2025 −0.1 pp | Mar 2026 +1.9 pp
- SVC: Jun 2021 — | Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 +0.6 pp | Dec 2022 +1.8 pp | Mar 2023 +0.4 pp | Jun 2023 +0.9 pp | Sep 2023 0.0 pp | Dec 2023 −0.1 pp | Mar 2024 +0.1 pp | Jun 2024 −1.2 pp | Sep 2024 −0.1 pp | Dec 2024 −0.2 pp | Mar 2025 −0.5 pp | Jun 2025 +0.4 pp | Sep 2025 −0.2 pp | Dec 2025 −0.3 pp | Mar 2026 +0.2 pp
- INN: Jun 2021 — | Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 +0.3 pp | Dec 2022 +0.4 pp | Mar 2023 +0.7 pp | Jun 2023 −0.9 pp | Sep 2023 −0.1 pp | Dec 2023 −0.3 pp | Mar 2024 +0.1 pp | Jun 2024 +0.9 pp | Sep 2024 +0.1 pp | Dec 2024 +0.6 pp | Mar 2025 +0.2 pp | Jun 2025 −0.9 pp | Sep 2025 −0.2 pp | Dec 2025 0.0 pp | Mar 2026 −0.6 pp
- CLDT: Jun 2021 — | Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 +1.0 pp | Dec 2022 +0.3 pp | Mar 2023 +0.3 pp | Jun 2023 +0.1 pp | Sep 2023 −0.3 pp | Dec 2023 −0.2 pp | Mar 2024 0.0 pp | Jun 2024 0.0 pp | Sep 2024 −0.1 pp | Dec 2024 +0.2 pp | Mar 2025 0.0 pp | Jun 2025 −0.2 pp | Sep 2025 −0.1 pp | Dec 2025 0.0 pp | Mar 2026 0.0 pp
- BHR: Jun 2021 — | Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 +0.1 pp | Dec 2022 +0.1 pp | Mar 2023 +0.3 pp | Jun 2023 −0.5 pp | Sep 2023 −0.2 pp | Dec 2023 −0.3 pp | Mar 2024 +0.2 pp | Jun 2024 −0.3 pp | Sep 2024 +3.2 pp | Dec 2024 −0.1 pp | Mar 2025 −0.2 pp | Jun 2025 +0.3 pp | Sep 2025 −1.5 pp | Dec 2025 −0.8 pp | Mar 2026 +0.4 pp

## ROE — Leaders & Improvers

What the numbers say: Ryman Hospitality Properties, Inc. leads roe at 10.3%; Host Hotels & Resorts, Inc. leads roe change at +3.6 percentage points.

Investor read: Ryman Hospitality Properties, Inc. sets the level benchmark; use the change leader as an inflection watch only after another comparable report confirms it.

This conclusion weakens if: The next two comparable reports reverse the current roe change signal.

Evidence: Ryman Hospitality Properties, Inc. · 10.3% | 41.1% versus #2 · Host Hotels & Resorts, Inc. | 0/8 recent comparable periods | 13/13 companies · 247 observations

Definition: ROE shows the return to shareholders, but should be read with asset quality and leverage.

### ROE — highest
1. Ryman Hospitality Properties, Inc. (RHP): 10%
2. Host Hotels & Resorts, Inc. (HST): 7.3%
3. Braemar Hotels & Resorts Inc. (BHR): 3.0%
4. Xenia Hotels & Resorts, Inc. (XHR): 1.7%
5. DiamondRock Hospitality Company (DRH): 1.0%

### ROE change — fastest improvers
1. Host Hotels & Resorts, Inc. (HST): +3.6 pp
2. Park Hotels & Resorts Inc. (PK): +2.0 pp
3. Braemar Hotels & Resorts Inc. (BHR): +1.6 pp
4. Sunstone Hotel Investors, Inc. (SHO): +0.7 pp
5. Pebblebrook Hotel Trust (PEB): +0.5 pp

### 20-quarter ROE history
- HST: Jun 2021 — | Sep 2021 -1.9% | Dec 2021 5.0% | Mar 2022 1.8% | Jun 2022 3.9% | Sep 2022 1.8% | Dec 2022 2.2% | Mar 2023 4.2% | Jun 2023 3.0% | Sep 2023 1.6% | Dec 2023 2.0% | Mar 2024 3.9% | Jun 2024 3.4% | Sep 2024 1.2% | Dec 2024 1.6% | Mar 2025 3.7% | Jun 2025 3.3% | Sep 2025 2.4% | Dec 2025 2.0% | Mar 2026 7.3%
- RHP: Jun 2021 — | Sep 2021 -6.6% | Dec 2021 -6.1% | Mar 2022 -62% | Jun 2022 -520% | Sep 2022 383% | Dec 2022 167% | Mar 2023 193% | Jun 2023 28% | Sep 2023 13% | Dec 2023 51% | Mar 2024 14% | Jun 2024 20% | Sep 2024 11% | Dec 2024 13% | Mar 2025 11% | Jun 2025 11% | Sep 2025 5.0% | Dec 2025 11% | Mar 2026 10%
- APLE: Jun 2021 — | Sep 2021 1.0% | Dec 2021 0.4% | Mar 2022 0.6% | Jun 2022 2.1% | Sep 2022 1.9% | Dec 2022 0.1% | Mar 2023 1.0% | Jun 2023 2.0% | Sep 2023 1.8% | Dec 2023 0.6% | Mar 2024 1.7% | Jun 2024 2.3% | Sep 2024 1.7% | Dec 2024 0.9% | Mar 2025 1.0% | Jun 2025 1.9% | Sep 2025 1.6% | Dec 2025 0.9% | Mar 2026 0.9%
- PK: Jun 2021 — | Sep 2021 -1.7% | Dec 2021 -1.4% | Mar 2022 -1.3% | Jun 2022 3.5% | Sep 2022 0.9% | Dec 2022 0.8% | Mar 2023 0.8% | Jun 2023 -3.5% | Sep 2023 0.8% | Dec 2023 4.7% | Mar 2024 0.7% | Jun 2024 1.7% | Sep 2024 1.5% | Dec 2024 2.0% | Mar 2025 -1.6% | Jun 2025 -0.1% | Sep 2025 -0.4% | Dec 2025 -6.1% | Mar 2026 0.4%
- DRH: Jun 2021 — | Sep 2021 -0.1% | Dec 2021 -0.2% | Mar 2022 0.7% | Jun 2022 3.4% | Sep 2022 1.8% | Dec 2022 1.2% | Mar 2023 0.6% | Jun 2023 2.4% | Sep 2023 1.7% | Dec 2023 0.7% | Mar 2024 0.5% | Jun 2024 1.5% | Sep 2024 1.6% | Dec 2024 -0.7% | Mar 2025 0.7% | Jun 2025 2.5% | Sep 2025 1.4% | Dec 2025 1.7% | Mar 2026 1.0%
- PEB: Jun 2021 — | Sep 2021 -0.7% | Dec 2021 -1.3% | Mar 2022 -3.3% | Jun 2022 0.9% | Sep 2022 0.8% | Dec 2022 -1.3% | Mar 2023 -0.7% | Jun 2023 1.5% | Sep 2023 -1.8% | Dec 2023 -1.4% | Mar 2024 -0.9% | Jun 2024 1.1% | Sep 2024 1.6% | Dec 2024 -1.8% | Mar 2025 -1.2% | Jun 2025 0.7% | Sep 2025 -1.2% | Dec 2025 -0.6% | Mar 2026 -0.7%
- SHO: Jun 2021 — | Sep 2021 -1.0% | Dec 2021 6.4% | Mar 2022 0.7% | Jun 2022 1.8% | Sep 2022 1.0% | Dec 2022 0.8% | Mar 2023 1.0% | Jun 2023 2.0% | Sep 2023 0.7% | Dec 2023 6.0% | Mar 2024 0.6% | Jun 2024 1.2% | Sep 2024 0.2% | Dec 2024 0.0% | Mar 2025 0.2% | Jun 2025 0.5% | Sep 2025 0.1% | Dec 2025 0.4% | Mar 2026 0.9%
- XHR: Jun 2021 — | Sep 2021 -1.5% | Dec 2021 -1.5% | Mar 2022 -0.4% | Jun 2022 1.9% | Sep 2022 -0.1% | Dec 2022 2.5% | Mar 2023 0.5% | Jun 2023 1.0% | Sep 2023 -0.6% | Dec 2023 0.6% | Mar 2024 0.7% | Jun 2024 1.2% | Sep 2024 -0.6% | Dec 2024 -0.1% | Mar 2025 1.3% | Jun 2025 4.5% | Sep 2025 -1.2% | Dec 2025 0.5% | Mar 2026 1.7%
- RLJ: Jun 2021 — | Sep 2021 -5.8% | Dec 2021 -1.1% | Mar 2022 -0.6% | Jun 2022 1.3% | Sep 2022 0.7% | Dec 2022 0.3% | Mar 2023 0.4% | Jun 2023 1.7% | Sep 2023 0.7% | Dec 2023 0.3% | Mar 2024 0.2% | Jun 2024 1.6% | Sep 2024 0.9% | Dec 2024 0.2% | Mar 2025 0.1% | Jun 2025 1.2% | Sep 2025 -0.2% | Dec 2025 0.0% | Mar 2026 0.0%
- SVC: Jun 2021 — | Sep 2021 -3.1% | Dec 2021 -11% | Mar 2022 -7.0% | Jun 2022 0.6% | Sep 2022 0.3% | Dec 2022 -2.3% | Mar 2023 1.6% | Jun 2023 -0.1% | Sep 2023 -0.8% | Dec 2023 -3.2% | Mar 2024 -5.7% | Jun 2024 -6.0% | Sep 2024 -4.5% | Dec 2024 -6.7% | Mar 2025 -12% | Jun 2025 -4.3% | Sep 2025 -6.1% | Dec 2025 -3.2% | Mar 2026 -24%
- INN: Jun 2021 — | Sep 2021 -0.4% | Dec 2021 -1.0% | Mar 2022 -0.7% | Jun 2022 1.9% | Sep 2022 -0.1% | Dec 2022 -1.0% | Mar 2023 -0.1% | Jun 2023 0.1% | Sep 2023 -0.4% | Dec 2023 -1.5% | Mar 2024 0.2% | Jun 2024 2.8% | Sep 2024 -0.3% | Dec 2024 0.1% | Mar 2025 0.0% | Jun 2025 0.2% | Sep 2025 -0.9% | Dec 2025 -0.2% | Mar 2026 -0.3%
- CLDT: Jun 2021 — | Sep 2021 -0.2% | Dec 2021 -1.5% | Mar 2022 -1.3% | Jun 2022 1.1% | Sep 2022 1.5% | Dec 2022 -0.3% | Mar 2023 -0.6% | Jun 2023 1.2% | Sep 2023 0.9% | Dec 2023 -1.2% | Mar 2024 -0.7% | Jun 2024 0.9% | Sep 2024 0.5% | Dec 2024 -0.2% | Mar 2025 0.2% | Jun 2025 0.7% | Sep 2025 0.5% | Dec 2025 0.6% | Mar 2026 -0.6%
- BHR: Jun 2021 — | Sep 2021 -1.8% | Dec 2021 -0.5% | Mar 2022 3.1% | Jun 2022 3.0% | Sep 2022 -1.3% | Dec 2022 -0.7% | Mar 2023 2.2% | Jun 2023 -0.4% | Sep 2023 -2.8% | Dec 2023 -2.6% | Mar 2024 1.8% | Jun 2024 -1.6% | Sep 2024 4.9% | Dec 2024 -2.8% | Mar 2025 1.4% | Jun 2025 -0.9% | Sep 2025 0.7% | Dec 2025 -5.9% | Mar 2026 3.0%

### 20-quarter ROE change history
- HST: Jun 2021 — | Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 +3.7 pp | Dec 2022 −2.8 pp | Mar 2023 +2.4 pp | Jun 2023 −0.9 pp | Sep 2023 −0.2 pp | Dec 2023 −0.2 pp | Mar 2024 −0.3 pp | Jun 2024 +0.4 pp | Sep 2024 −0.4 pp | Dec 2024 −0.4 pp | Mar 2025 −0.2 pp | Jun 2025 −0.1 pp | Sep 2025 +1.2 pp | Dec 2025 +0.4 pp | Mar 2026 +3.6 pp
- RHP: Jun 2021 — | Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 +389.4 pp | Dec 2022 +173.1 pp | Mar 2023 +255.2 pp | Jun 2023 +547.8 pp | Sep 2023 −369.7 pp | Dec 2023 −116.2 pp | Mar 2024 −179.8 pp | Jun 2024 −8.1 pp | Sep 2024 −2.4 pp | Dec 2024 −38.0 pp | Mar 2025 −2.1 pp | Jun 2025 −8.9 pp | Sep 2025 −5.7 pp | Dec 2025 −1.7 pp | Mar 2026 −1.1 pp
- APLE: Jun 2021 — | Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 +0.9 pp | Dec 2022 −0.3 pp | Mar 2023 +0.4 pp | Jun 2023 −0.1 pp | Sep 2023 −0.1 pp | Dec 2023 +0.5 pp | Mar 2024 +0.7 pp | Jun 2024 +0.3 pp | Sep 2024 −0.1 pp | Dec 2024 +0.3 pp | Mar 2025 −0.7 pp | Jun 2025 −0.4 pp | Sep 2025 −0.1 pp | Dec 2025 0.0 pp | Mar 2026 −0.1 pp
- PK: Jun 2021 — | Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 +2.6 pp | Dec 2022 +2.2 pp | Mar 2023 +2.1 pp | Jun 2023 −7.0 pp | Sep 2023 −0.1 pp | Dec 2023 +3.9 pp | Mar 2024 −0.1 pp | Jun 2024 +5.2 pp | Sep 2024 +0.7 pp | Dec 2024 −2.7 pp | Mar 2025 −2.3 pp | Jun 2025 −1.8 pp | Sep 2025 −1.9 pp | Dec 2025 −8.1 pp | Mar 2026 +2.0 pp
- DRH: Jun 2021 — | Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 +1.9 pp | Dec 2022 +1.4 pp | Mar 2023 −0.1 pp | Jun 2023 −1.0 pp | Sep 2023 −0.1 pp | Dec 2023 −0.5 pp | Mar 2024 −0.1 pp | Jun 2024 −0.9 pp | Sep 2024 −0.1 pp | Dec 2024 −1.4 pp | Mar 2025 +0.2 pp | Jun 2025 +1.0 pp | Sep 2025 −0.2 pp | Dec 2025 +2.4 pp | Mar 2026 +0.3 pp
- PEB: Jun 2021 — | Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 +1.5 pp | Dec 2022 0.0 pp | Mar 2023 +2.6 pp | Jun 2023 +0.6 pp | Sep 2023 −2.6 pp | Dec 2023 −0.1 pp | Mar 2024 −0.2 pp | Jun 2024 −0.4 pp | Sep 2024 +3.4 pp | Dec 2024 −0.4 pp | Mar 2025 −0.3 pp | Jun 2025 −0.4 pp | Sep 2025 −2.8 pp | Dec 2025 +1.2 pp | Mar 2026 +0.5 pp
- SHO: Jun 2021 — | Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 +2.0 pp | Dec 2022 −5.6 pp | Mar 2023 +0.3 pp | Jun 2023 +0.2 pp | Sep 2023 −0.3 pp | Dec 2023 +5.2 pp | Mar 2024 −0.4 pp | Jun 2024 −0.8 pp | Sep 2024 −0.5 pp | Dec 2024 −6.0 pp | Mar 2025 −0.4 pp | Jun 2025 −0.7 pp | Sep 2025 −0.1 pp | Dec 2025 +0.4 pp | Mar 2026 +0.7 pp
- XHR: Jun 2021 — | Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 +1.4 pp | Dec 2022 +4.0 pp | Mar 2023 +0.9 pp | Jun 2023 −0.9 pp | Sep 2023 −0.5 pp | Dec 2023 −1.9 pp | Mar 2024 +0.2 pp | Jun 2024 +0.2 pp | Sep 2024 0.0 pp | Dec 2024 −0.7 pp | Mar 2025 +0.6 pp | Jun 2025 +3.3 pp | Sep 2025 −0.6 pp | Dec 2025 +0.6 pp | Mar 2026 +0.4 pp
- RLJ: Jun 2021 — | Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 +6.5 pp | Dec 2022 +1.4 pp | Mar 2023 +1.0 pp | Jun 2023 +0.4 pp | Sep 2023 0.0 pp | Dec 2023 0.0 pp | Mar 2024 −0.2 pp | Jun 2024 −0.1 pp | Sep 2024 +0.2 pp | Dec 2024 −0.1 pp | Mar 2025 −0.1 pp | Jun 2025 −0.4 pp | Sep 2025 −1.1 pp | Dec 2025 −0.2 pp | Mar 2026 −0.1 pp
- SVC: Jun 2021 — | Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 +3.4 pp | Dec 2022 +8.7 pp | Mar 2023 +8.6 pp | Jun 2023 −0.7 pp | Sep 2023 −1.1 pp | Dec 2023 −0.9 pp | Mar 2024 −7.3 pp | Jun 2024 −5.9 pp | Sep 2024 −3.7 pp | Dec 2024 −3.5 pp | Mar 2025 −6.3 pp | Jun 2025 +1.7 pp | Sep 2025 −1.6 pp | Dec 2025 +3.5 pp | Mar 2026 −11.7 pp
- INN: Jun 2021 — | Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 +0.3 pp | Dec 2022 0.0 pp | Mar 2023 +0.6 pp | Jun 2023 −1.8 pp | Sep 2023 −0.3 pp | Dec 2023 −0.5 pp | Mar 2024 +0.3 pp | Jun 2024 +2.7 pp | Sep 2024 +0.1 pp | Dec 2024 +1.6 pp | Mar 2025 −0.2 pp | Jun 2025 −2.6 pp | Sep 2025 −0.6 pp | Dec 2025 −0.3 pp | Mar 2026 −0.3 pp
- CLDT: Jun 2021 — | Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 +1.7 pp | Dec 2022 +1.2 pp | Mar 2023 +0.7 pp | Jun 2023 +0.1 pp | Sep 2023 −0.6 pp | Dec 2023 −0.9 pp | Mar 2024 −0.1 pp | Jun 2024 −0.3 pp | Sep 2024 −0.4 pp | Dec 2024 +1.0 pp | Mar 2025 +0.9 pp | Jun 2025 −0.2 pp | Sep 2025 0.0 pp | Dec 2025 +0.8 pp | Mar 2026 −0.8 pp
- BHR: Jun 2021 — | Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 +0.5 pp | Dec 2022 −0.2 pp | Mar 2023 −0.9 pp | Jun 2023 −3.4 pp | Sep 2023 −1.5 pp | Dec 2023 −1.9 pp | Mar 2024 −0.4 pp | Jun 2024 −1.2 pp | Sep 2024 +7.7 pp | Dec 2024 −0.2 pp | Mar 2025 −0.4 pp | Jun 2025 +0.7 pp | Sep 2025 −4.2 pp | Dec 2025 −3.1 pp | Mar 2026 +1.6 pp

## Gross NPA — Leaders & Improvers

What the numbers say: There is not enough comparable evidence to name a reliable gross npa leader.

Investor read: The current leader sets the level benchmark; use the change leader as an inflection watch only after another comparable report confirms it.

This conclusion weakens if: The next two comparable reports reverse the current gnpa change signal.

Evidence: No comparable leader | Not enough peers | Not enough history | 0/13 companies · 0 observations

Definition: Lower gross NPA is better. Improvement means the ratio is falling, so ranks are intentionally inverted.

### Gross NPA — lowest

### GNPA change — fastest improvers

### 20-quarter Gross NPA history

### 20-quarter GNPA change history

## Valuation Against Growth & Quality

What the numbers say: Braemar Hotels & Resorts Inc. has the lowest comparable P/BV ÷ ROE at 0.25×, 3.8% below Host Hotels & Resorts, Inc.. Only 8 of 13 companies pass the guard, so no broad “cheapest stock” conclusion is defensible unless the current multiple, own-history position and growth durability agree.

Investor read: Treat valuation as permission to investigate, never as a standalone reason to buy.

This conclusion weakens if: The next two comparable reports reverse the current p/bv signal.

Evidence: Braemar Hotels & Resorts Inc. · 0.25× | 3.8% versus #2 · Host Hotels & Resorts, Inc. | 0/8 recent comparable periods | 8/13 companies · 153 observations

Definition: Banks are compared on P/BV and P/BV÷ROE, not PEG. Lower is better only if asset quality and return durability hold; cheap book value with weakening NPAs is not automatically attractive.

### P/BV ÷ ROE — lowest return-adjusted price
1. Braemar Hotels & Resorts Inc. (BHR): 0.3
2. Host Hotels & Resorts, Inc. (HST): 0.3
3. Xenia Hotels & Resorts, Inc. (XHR): 0.7
4. Ryman Hospitality Properties, Inc. (RHP): 0.8
5. Apple Hospitality REIT, Inc. (APLE): 1.0

### P/BV — lowest P/BV
1. Service Properties Trust (SVC): 0.5
2. Chatham Lodging Trust (CLDT): 0.5
3. RLJ Lodging Trust (RLJ): 0.5
4. Summit Hotel Properties, Inc. (INN): 0.6
5. Pebblebrook Hotel Trust (PEB): 0.6

### 20-quarter P/BV ÷ ROE history
- HST: Jun 2021 — | Sep 2021 — | Dec 2021 0.4 | Mar 2022 1.2 | Jun 2022 0.4 | Sep 2022 0.9 | Dec 2022 0.8 | Mar 2023 0.4 | Jun 2023 0.6 | Sep 2023 1.0 | Dec 2023 1.0 | Mar 2024 0.6 | Jun 2024 0.5 | Sep 2024 1.5 | Dec 2024 1.2 | Mar 2025 0.4 | Jun 2025 0.5 | Sep 2025 0.7 | Dec 2025 0.9 | Mar 2026 0.3
- RHP: Jun 2021 — | Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 0.2 | Dec 2022 0.3 | Mar 2023 0.3 | Jun 2023 0.4 | Sep 2023 0.7 | Dec 2023 0.2 | Mar 2024 1.0 | Jun 2024 0.5 | Sep 2024 1.1 | Dec 2024 0.9 | Mar 2025 0.9 | Jun 2025 0.7 | Sep 2025 1.5 | Dec 2025 0.7 | Mar 2026 0.8
- APLE: Jun 2021 — | Sep 2021 1.2 | Dec 2021 2.9 | Mar 2022 2.2 | Jun 2022 0.5 | Sep 2022 0.5 | Dec 2022 11.4 | Mar 2023 1.1 | Jun 2023 0.6 | Sep 2023 0.6 | Dec 2023 2.0 | Mar 2024 0.7 | Jun 2024 0.5 | Sep 2024 0.6 | Dec 2024 1.3 | Mar 2025 1.0 | Jun 2025 0.5 | Sep 2025 0.6 | Dec 2025 1.0 | Mar 2026 1.0
- PK: Jun 2021 — | Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 0.2 | Sep 2022 0.6 | Dec 2022 0.8 | Mar 2023 0.8 | Jun 2023 — | Sep 2023 0.8 | Dec 2023 0.2 | Mar 2024 1.4 | Jun 2024 0.5 | Sep 2024 0.5 | Dec 2024 0.4 | Mar 2025 — | Jun 2025 — | Sep 2025 — | Dec 2025 — | Mar 2026 1.7
- DRH: Jun 2021 — | Sep 2021 — | Dec 2021 — | Mar 2022 2.0 | Jun 2022 0.3 | Sep 2022 0.6 | Dec 2022 0.9 | Mar 2023 1.8 | Jun 2023 0.4 | Sep 2023 0.6 | Dec 2023 1.7 | Mar 2024 2.5 | Jun 2024 0.7 | Sep 2024 0.7 | Dec 2024 — | Mar 2025 1.5 | Jun 2025 0.4 | Sep 2025 0.7 | Dec 2025 0.7 | Mar 2026 1.3
- PEB: Jun 2021 — | Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 0.8 | Sep 2022 0.8 | Dec 2022 — | Mar 2023 — | Jun 2023 0.4 | Sep 2023 — | Dec 2023 — | Mar 2024 — | Jun 2024 0.6 | Sep 2024 0.4 | Dec 2024 — | Mar 2025 — | Jun 2025 0.6 | Sep 2025 — | Dec 2025 — | Mar 2026 —
- SHO: Jun 2021 — | Sep 2021 — | Dec 2021 0.2 | Mar 2022 1.7 | Jun 2022 0.6 | Sep 2022 1.0 | Dec 2022 1.2 | Mar 2023 1.0 | Jun 2023 0.5 | Sep 2023 1.3 | Dec 2023 0.2 | Mar 2024 1.8 | Jun 2024 0.8 | Sep 2024 4.9 | Dec 2024 — | Mar 2025 4.6 | Jun 2025 1.7 | Sep 2025 9.1 | Dec 2025 2.2 | Mar 2026 1.0
- XHR: Jun 2021 — | Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 0.6 | Sep 2022 — | Dec 2022 0.4 | Mar 2023 2.1 | Jun 2023 1.0 | Sep 2023 — | Dec 2023 1.8 | Mar 2024 1.7 | Jun 2024 1.0 | Sep 2024 — | Dec 2024 — | Mar 2025 0.7 | Jun 2025 0.2 | Sep 2025 — | Dec 2025 2.3 | Mar 2026 0.7
- RLJ: Jun 2021 — | Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 0.6 | Sep 2022 1.0 | Dec 2022 2.4 | Mar 2023 1.8 | Jun 2023 0.4 | Sep 2023 0.9 | Dec 2023 2.6 | Mar 2024 4.0 | Jun 2024 0.4 | Sep 2024 0.7 | Dec 2024 3.5 | Mar 2025 5.3 | Jun 2025 0.4 | Sep 2025 — | Dec 2025 — | Mar 2026 —
- SVC: Jun 2021 — | Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 1.0 | Sep 2022 2.0 | Dec 2022 — | Mar 2023 0.7 | Jun 2023 — | Sep 2023 — | Dec 2023 — | Mar 2024 — | Jun 2024 — | Sep 2024 — | Dec 2024 — | Mar 2025 — | Jun 2025 — | Sep 2025 — | Dec 2025 — | Mar 2026 —
- INN: Jun 2021 — | Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 0.4 | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 7.4 | Sep 2023 — | Dec 2023 — | Mar 2024 3.9 | Jun 2024 0.3 | Sep 2024 — | Dec 2024 8.2 | Mar 2025 — | Jun 2025 3.2 | Sep 2025 — | Dec 2025 — | Mar 2026 —
- CLDT: Jun 2021 — | Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 0.6 | Sep 2022 0.4 | Dec 2022 — | Mar 2023 — | Jun 2023 0.5 | Sep 2023 0.7 | Dec 2023 — | Mar 2024 — | Jun 2024 0.6 | Sep 2024 1.1 | Dec 2024 — | Mar 2025 2.3 | Jun 2025 0.6 | Sep 2025 0.9 | Dec 2025 0.7 | Mar 2026 —
- BHR: Jun 2021 — | Sep 2021 — | Dec 2021 — | Mar 2022 0.3 | Jun 2022 0.2 | Sep 2022 — | Dec 2022 — | Mar 2023 0.3 | Jun 2023 — | Sep 2023 — | Dec 2023 — | Mar 2024 0.2 | Jun 2024 — | Sep 2024 0.1 | Dec 2024 — | Mar 2025 0.4 | Jun 2025 — | Sep 2025 1.0 | Dec 2025 — | Mar 2026 0.3

### 20-quarter P/BV history
- HST: Jun 2021 — | Sep 2021 1.9 | Dec 2021 1.9 | Mar 2022 2.1 | Jun 2022 1.7 | Sep 2022 1.7 | Dec 2022 1.7 | Mar 2023 1.7 | Jun 2023 1.7 | Sep 2023 1.7 | Dec 2023 2.1 | Mar 2024 2.2 | Jun 2024 1.9 | Sep 2024 1.8 | Dec 2024 1.9 | Mar 2025 1.5 | Jun 2025 1.6 | Sep 2025 1.8 | Dec 2025 1.9 | Mar 2026 1.9
- RHP: Jun 2021 — | Sep 2021 -117.5 | Dec 2021 -227.8 | Mar 2022 -138.9 | Jun 2022 675.7 | Sep 2022 78.7 | Dec 2022 47.4 | Mar 2023 49.8 | Jun 2023 11.1 | Sep 2023 8.7 | Dec 2023 11.6 | Mar 2024 13.1 | Jun 2024 10.6 | Sep 2024 11.6 | Dec 2024 11.4 | Mar 2025 10.3 | Jun 2025 7.8 | Sep 2025 7.4 | Dec 2025 7.9 | Mar 2026 8.0
- APLE: Jun 2021 — | Sep 2021 1.2 | Dec 2021 1.2 | Mar 2022 1.3 | Jun 2022 1.0 | Sep 2022 1.0 | Dec 2022 1.1 | Mar 2023 1.1 | Jun 2023 1.1 | Sep 2023 1.1 | Dec 2023 1.2 | Mar 2024 1.2 | Jun 2024 1.1 | Sep 2024 1.1 | Dec 2024 1.1 | Mar 2025 1.0 | Jun 2025 0.9 | Sep 2025 0.9 | Dec 2025 0.9 | Mar 2026 0.9
- PK: Jun 2021 — | Sep 2021 1.0 | Dec 2021 1.0 | Mar 2022 1.1 | Jun 2022 0.7 | Sep 2022 0.6 | Dec 2022 0.6 | Mar 2023 0.6 | Jun 2023 0.7 | Sep 2023 0.7 | Dec 2023 0.8 | Mar 2024 1.0 | Jun 2024 0.8 | Sep 2024 0.8 | Dec 2024 0.8 | Mar 2025 0.6 | Jun 2025 0.6 | Sep 2025 0.7 | Dec 2025 0.7 | Mar 2026 0.7
- DRH: Jun 2021 — | Sep 2021 1.3 | Dec 2021 1.3 | Mar 2022 1.4 | Jun 2022 1.1 | Sep 2022 1.0 | Dec 2022 1.1 | Mar 2023 1.1 | Jun 2023 1.0 | Sep 2023 1.0 | Dec 2023 1.2 | Mar 2024 1.2 | Jun 2024 1.1 | Sep 2024 1.1 | Dec 2024 1.2 | Mar 2025 1.0 | Jun 2025 1.0 | Sep 2025 1.0 | Dec 2025 1.3 | Mar 2026 1.3
- PEB: Jun 2021 — | Sep 2021 0.9 | Dec 2021 0.9 | Mar 2022 1.0 | Jun 2022 0.7 | Sep 2022 0.6 | Dec 2022 0.6 | Mar 2023 0.6 | Jun 2023 0.6 | Sep 2023 0.6 | Dec 2023 0.7 | Mar 2024 0.7 | Jun 2024 0.6 | Sep 2024 0.6 | Dec 2024 0.6 | Mar 2025 0.5 | Jun 2025 0.5 | Sep 2025 0.5 | Dec 2025 0.5 | Mar 2026 0.6
- SHO: Jun 2021 — | Sep 2021 1.3 | Dec 2021 1.2 | Mar 2022 1.2 | Jun 2022 1.0 | Sep 2022 1.0 | Dec 2022 1.0 | Mar 2023 1.0 | Jun 2023 1.0 | Sep 2023 0.9 | Dec 2023 1.0 | Mar 2024 1.1 | Jun 2024 1.0 | Sep 2024 1.0 | Dec 2024 1.1 | Mar 2025 0.9 | Jun 2025 0.9 | Sep 2025 0.9 | Dec 2025 0.9 | Mar 2026 0.9
- XHR: Jun 2021 — | Sep 2021 1.4 | Dec 2021 1.5 | Mar 2022 1.5 | Jun 2022 1.1 | Sep 2022 1.1 | Dec 2022 1.0 | Mar 2023 1.0 | Jun 2023 1.0 | Sep 2023 0.9 | Dec 2023 1.1 | Mar 2024 1.2 | Jun 2024 1.1 | Sep 2024 1.2 | Dec 2024 1.2 | Mar 2025 1.0 | Jun 2025 1.0 | Sep 2025 1.1 | Dec 2025 1.2 | Mar 2026 1.2
- RLJ: Jun 2021 — | Sep 2021 1.0 | Dec 2021 1.0 | Mar 2022 1.0 | Jun 2022 0.8 | Sep 2022 0.7 | Dec 2022 0.7 | Mar 2023 0.7 | Jun 2023 0.7 | Sep 2023 0.7 | Dec 2023 0.8 | Mar 2024 0.8 | Jun 2024 0.6 | Sep 2024 0.6 | Dec 2024 0.7 | Mar 2025 0.5 | Jun 2025 0.5 | Sep 2025 0.5 | Dec 2025 0.5 | Mar 2026 0.5
- SVC: Jun 2021 — | Sep 2021 1.1 | Dec 2021 0.9 | Mar 2022 1.0 | Jun 2022 0.6 | Sep 2022 0.6 | Dec 2022 0.9 | Mar 2023 1.2 | Jun 2023 1.1 | Sep 2023 1.0 | Dec 2023 1.2 | Mar 2024 1.0 | Jun 2024 0.9 | Sep 2024 0.8 | Dec 2024 0.5 | Mar 2025 0.6 | Jun 2025 0.6 | Sep 2025 0.7 | Dec 2025 0.5 | Mar 2026 0.5
- INN: Jun 2021 — | Sep 2021 1.1 | Dec 2021 1.1 | Mar 2022 1.1 | Jun 2022 0.8 | Sep 2022 0.7 | Dec 2022 0.8 | Mar 2023 0.8 | Jun 2023 0.7 | Sep 2023 0.7 | Dec 2023 0.8 | Mar 2024 0.8 | Jun 2024 0.7 | Sep 2024 0.8 | Dec 2024 0.8 | Mar 2025 0.7 | Jun 2025 0.6 | Sep 2025 0.7 | Dec 2025 0.6 | Mar 2026 0.6
- CLDT: Jun 2021 — | Sep 2021 0.8 | Dec 2021 0.8 | Mar 2022 0.9 | Jun 2022 0.6 | Sep 2022 0.6 | Dec 2022 0.8 | Mar 2023 0.7 | Jun 2023 0.6 | Sep 2023 0.6 | Dec 2023 0.7 | Mar 2024 0.7 | Jun 2024 0.5 | Sep 2024 0.5 | Dec 2024 0.6 | Mar 2025 0.5 | Jun 2025 0.5 | Sep 2025 0.4 | Dec 2025 0.4 | Mar 2026 0.5
- BHR: Jun 2021 — | Sep 2021 0.7 | Dec 2021 0.7 | Mar 2022 0.9 | Jun 2022 0.6 | Sep 2022 0.6 | Dec 2022 0.6 | Mar 2023 0.6 | Jun 2023 0.6 | Sep 2023 0.5 | Dec 2023 0.5 | Mar 2024 0.4 | Jun 2024 0.5 | Sep 2024 0.6 | Dec 2024 0.7 | Mar 2025 0.6 | Jun 2025 0.6 | Sep 2025 0.7 | Dec 2025 1.0 | Mar 2026 0.8

## Market action

Chatham Lodging Trust has the strongest one-year price move in REIT - Hotel & Motel at +105.6%. It also leads on Mansfield relative strength against the S&P 500 at +51.4%. 11 of 13 covered companies are above zero on that measure. Every line covers 314 weekly closes through 2026-07-28.

### Strongest one-year price performers
1. Chatham Lodging Trust (CLDT): 106%
2. Pebblebrook Hotel Trust (PEB): 100%
3. Xenia Hotels & Resorts, Inc. (XHR): 75%
4. DiamondRock Hospitality Company (DRH): 73%
5. RLJ Lodging Trust (RLJ): 72%

### Strongest relative strength versus NIFTY 500
1. Chatham Lodging Trust (CLDT): 51%
2. RLJ Lodging Trust (RLJ): 39%
3. Pebblebrook Hotel Trust (PEB): 38%
4. Xenia Hotels & Resorts, Inc. (XHR): 30%
5. DiamondRock Hospitality Company (DRH): 26%

## What can make this comparison misleading?
- A high growth rate can be a low-base artefact. The page keeps level and change separate for that reason.
- A high ROE can be manufactured with leverage. Read it beside ROA and asset quality.
- The 4-Factor Sector Score ranks research priority, not portfolio action. Management quality, catalysts and risks need equally fresh evidence before capital is deployed.
- An “all companies” line chart preserves completeness, but rank changes should be checked against reporting dates before drawing a conclusion.
- Banks and lenders are not forced through operating-margin or ROCE comparisons; missing lender-specific fields remain visibly missing.
- Thin comparisons: Funding base, Asset quality have fewer than three usable current readings.

## Every company
- Host Hotels & Resorts, Inc. (HST) — market value ₹17.7K Cr; latest fundamentals Mar 2026
- Ryman Hospitality Properties, Inc. (RHP) — market value ₹8.5K Cr; latest fundamentals Mar 2026
- Apple Hospitality REIT, Inc. (APLE) — market value ₹4.0K Cr; latest fundamentals Mar 2026
- Park Hotels & Resorts Inc. (PK) — market value ₹3.1K Cr; latest fundamentals Mar 2026
- DiamondRock Hospitality Company (DRH) — market value ₹2.7K Cr; latest fundamentals Mar 2026
- Pebblebrook Hotel Trust (PEB) — market value ₹2.2K Cr; latest fundamentals Mar 2026
- Sunstone Hotel Investors, Inc. (SHO) — market value ₹2.2K Cr; latest fundamentals Mar 2026
- Xenia Hotels & Resorts, Inc. (XHR) — market value ₹2.2K Cr; latest fundamentals Mar 2026
- RLJ Lodging Trust (RLJ) — market value ₹1.9K Cr; latest fundamentals Mar 2026
- Service Properties Trust (SVC) — market value ₹1.1K Cr; latest fundamentals Mar 2026
- Summit Hotel Properties, Inc. (INN) — market value ₹807 Cr; latest fundamentals Mar 2026
- Chatham Lodging Trust (CLDT) — market value ₹660 Cr; latest fundamentals Mar 2026
- Braemar Hotels & Resorts Inc. (BHR) — market value ₹171 Cr; latest fundamentals Mar 2026

## Methodology and freshness

Fundamentals through Mar 2026; prices through 2026-07-28.
Up to 20 quarters per company. Reported history is normalized to Indian rupees crore. Missing values are not interpolated. Derived metrics are calculated only when their inputs are comparable.

## Frequently asked questions

### Which REIT - Hotel & Motel company is the biggest?

Host Hotels & Resorts, Inc. is the largest, with trailing-twelve-month income of $6,165 million, ahead of Ryman Hospitality Properties, Inc. at $2,655 million. That covers 13 of 13 companies with comparable reporting through Mar 2026.

### Which REIT - Hotel & Motel company is growing fastest?

Ryman Hospitality Properties, Inc. has the fastest income growth at 10.7% year on year, across 13 of 13 comparable companies. Fast growth off a small base is not the same as proven scale — check whether the rate holds across several quarters on the chart above before treating it as a trend.

### Which REIT - Hotel & Motel company makes the most profit?

Host Hotels & Resorts, Inc. earns the most, at $1,026 million of trailing-twelve-month net profit, from 13 of 13 comparable companies. Xenia Hotels & Resorts, Inc. has the fastest profit growth at 100%, though growth off a small or recovering profit base overstates how much has actually changed.

### Which REIT - Hotel & Motel company earns the highest return on capital?

Host Hotels & Resorts, Inc. leads on return on assets at 2.4%, across 13 of 13 companies. Read it beside the length of its reported history: a high return that repeats for years is evidence of a durable business, while a single high reading can be a small capital base or one good year.

### Which REIT - Hotel & Motel stock is the cheapest?

On price-to-book divided by return on equity — where a LOWER number is cheaper — Braemar Hotels & Resorts Inc. screens cheapest at 0.25×. Only 8 of 13 companies pass the comparability guard, so this is not a sector-wide "cheapest stock" verdict. Cheap on a multiple is a reason to investigate, never a reason to buy on its own.

### Is the REIT - Hotel & Motel sector beating the market?

REIT - Hotel & Motel has outperformed S&P 500 by 26.8% over the last 52 weeks and 24.6% over 13 weeks, measured on an equal-weight index of its current members. Inside the sector, 11 of 13 covered companies are beating the market on their own. Sector strength does not transfer evenly to every stock in it.

### Which REIT - Hotel & Motel stock has the strongest price momentum?

Chatham Lodging Trust has the strongest relative strength against S&P 500. Relative strength answers last, after growth, quality and valuation: price can move well before the fundamentals confirm it, and sometimes without them confirming at all.

### Which REIT - Hotel & Motel company scores highest for research priority?

Xenia Hotels & Resorts, Inc. scores 58.2 out of 100 with 79.6% evidence confidence, from 23.4 points on growth and earnings, 13.8 on capital efficiency, 6.9 on valuation and 14.1 on relative strength. This ranks what deserves work next. It is not a buy recommendation, and management quality, catalysts and risk still need separate research.

### How many REIT - Hotel & Motel companies does this comparison cover, and over what period?

It compares 13 listed companies over up to 20 reported quarters of fundamentals and 5 fiscal years of capital allocation, ending Mar 2026, plus weekly price and relative-strength history. Membership is the full sector list — nothing is dropped for having thin data.

### What is the total market cap of the REIT - Hotel & Motel sector?

The 13 REIT - Hotel & Motel companies on this page carry $47,108 million of combined market value. Host Hotels & Resorts, Inc. is the largest at $17,689 million, about 38% of the sector's total on its own. Market value moves with price, so this reading is dated 2026-07-28.

### What is the REIT - Hotel & Motel sector's P/B ratio?

The median price-to-book ratio across the 13 REIT - Hotel & Motel companies on this page is 0.8×, measured on the 13 that report a comparable figure. A sector-level history for this multiple is not held here, so this is a cross-section of today, not a comparison with the sector’s own past. Figures are as of 2026-07-28.

### How is the REIT - Hotel & Motel sector performing?

11 of the 13 covered REIT - Hotel & Motel companies are beating S&P 500 on Mansfield relative strength. The sector itself is 26.8% ahead of S&P 500 over 52 weeks on an equal-weight index of its current members. Readings are as of 2026-07-28.

### How many REIT - Hotel & Motel stocks are listed in the US?

This comparison covers 13 listed REIT - Hotel & Motel companies in the US, each above the size floor the site applies. The full ranked list is on this page, with reported fundamentals through Mar 2026. Membership is the full industry list — nothing is dropped for having thin data.

### Why are some values on this page blank?

A blank means that company did not report a comparable figure for that period, so nothing is shown. Missing observations are never interpolated, carried forward, or replaced with a similar-looking accounting line, and a company with missing evidence has its research score pulled toward neutral rather than being scored as bad.

### Is this investment advice?

No. Every figure here is a deterministic calculation from reported company filings and market data, published for research. It contains no recommendation to buy or sell any security, does not account for your circumstances, and is not a substitute for advice from a licensed adviser.

Narrative sector analysis: https://www.sectoralpha.in/sectors/reit-hotel-motel