consistently out-performing the industry

Throughout the pandemic period, HVMG has consistently outperformed the industry in top line revenue, expense management, and GOP margin. Our March 2021 results underscore HVMG's proven strength in successfully managing through down cycles.

• Total revenue per available room (TrevPAR) was $92.09 for the HVMG portfolio, as compared to the industry average of $86.61, an outperformance of 6.1%.
• In the upper-upscale segment, the results are even stronger. HVMG's upper-upscale hotels delivered an average TrevPAR of $108.30 vs. the industry average of $72.12. Our portfolio out-performed by ­40.1% and $36.19 per available room.
• Our strategic and programmatic approach to reducing expenses led to our hotels spending $6.99 less per available room than the industry average.
• As a result of our stronger revenues combined with streamlined expenses, we delivered $39.25 in Gross Operating Profit (GOP) per available room, or $12.46 more per available room than the industry average of $26.79. Our GOP margin averaged 42.6% compared to the industry's 30.9%.

Empowering our General Managers to act as the CEOs of their hotels help generates superior results. We provide top-notch resources and allow our teams to make decisions in real time that create EXCELLENT outcomes for our owners and associates.

Based on HVMG portfolio and STR data for March 2021.