What was the RevPAR index for Springhill Suites By Marriott locations during the 2024 calendar period?

tive to its competitive set (as defined by each hotel) within a given market and is calculated by dividing the RevPAR of the subject hotel by the RevPAR of the competitive set (which may include other Company Brand Hotels). The perhotel metrics for average OCC, ADR, RevPAR, and RevPAR Index shown below were calculated by taking the sum of the results reported by each STR Included Hotel during the applicable period and dividing that sum by the total number of times the STR Included Hotel reported results during the applicable period. If a STR Included Hotel did not report data about occupancy, ADR, RevPAR, or RevPAR Index for a day during the calendar year, that day is not included in the calculation of the results noted in the chart or the averages for that particular hotel noted below. The "median" is the middle data point in the range of performance data.

For each of the periods listed above, "STR Included Hotels" means franchised SpringHill Suites by Marriott hotels that: (a) reported Smith Travel Research, Inc. ("STR") data at any time during the period; and (b) were, as of the end of each calendar year, open and operating as a franchised SpringHill Suites by Marriott hotel for at least two years and satisfied the Conditions. "Conditions" means the hotel did not undergo at any time during the preceding two years any one or more of the following: (1) a rooms renovation that resulted in five percent or more of the total number of available rooms at such hotel being taken out of service during the year in which the renovation occurred; (2) a public space renovation that resulted in revenue displacement during the year in which such renovation occurred of five percent or more

of the annual available room nights at the average daily rate of the most recent year prior to the renovation during which the hotel satisfied each of the Conditions; or (3) an expansion that resulted in an increase in revenues of five percent or more of the annual available room nights (before the expansion) at the average daily rate of the most recent year prior to the expansion during which the hotel satisfied each of the Conditions.

As of December 31, 2024, there were 563 SpringHill Suites by Marriott hotels open and operating in the United States and Canada; of these, 541 were franchised and 495 were STR Included Hotels. Of the 495 STR Included Hotels in 2024, 165 hotels or 33.5% reported an average daily room rate that met or exceeded $149.59; 250 hotels or 50.7% reported an average occupancy rate that met or exceeded 72.3%; $108.08 hotels or 37.3% reported an average RevPAR that met or exceeded $108.08; and 245 hotels or 49.7% reported an average RevPAR Index that met or exceeded 111.7. For the 495 STR Included Hotels in 2024, the average daily room rate ranged from $81.49 to $385.76, with a median of $137.14; the average occupancy rate ranged from 37.5% to 94.4%, with a median of 72.5%; the average RevPAR ranged from 33.75 to 307.51, with a median of 99.95;

Source: Item 19 — FINANCIAL PERFORMANCE REPRESENTATIONS (FDD pages 118–124)