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INVESTMENT ACTIVITY The German hotel investment market in 2025 showed strong recovery, with total transaction volume reaching around €1.9 billion, up over 50% from 2024. Prime urban and leisure assets attracted the most investor interest, driving competitive bidding and modest yield compression. Domestic and international buyers actively pursued high-quality hotels, while portfolio deals and larger single-asset transactions added liquidity. Hotels in secondary locations also saw growing attention, offering attractive income and value-add potential. Supported by robust operating performance, high occupancy, and resilient ADR trends, the market is poised for continued investor confidence into 2026, with opportunities across core, core-plus, and repositioning strategies. PRIME YIELDS Prime hotel yields in Germany are showing early signs of compression, supported by strong operating performance, resilient demand, and a limited supply of top-tier, institutional-grade assets. Competitive investor activity, particularly in major urban locations, is placing downward pressure on prime returns. Secondary location assets show greater yield dispersion, reflecting differences in risk profile, repositioning needs, and required capital expenditures, creating opportunities for value-add strategies. SUPPLY & DEMAND Demand in Germany’s hotel sector remains robust, continuing to rise from already record-breaking levels. In contrast, supply is expanding only moderately and is carefully managed. This imbalance between strong demand and controlled growth supports stable occupancy, healthy revenues, and reliable pricing across the German hotel landscape. PERFORMANCE Germany closed 2025 with relatively stable operating performance. Average occupancy reached nearly 68% (+0.7 percentage points vs. 2024), while ADR decreased to around €117 (-1.8% vs. 2024). As a result, RevPAR declined marginally to €78.8 (-0.8% vs. 2024). Overall performance therefore remained broadly stable year-on-year, with the slight improvement in occupancy offset by a reduction in average daily rates.

INVESTMENT ACTIVITY 2025 was a record year for investment transactions in the Irish market with a total of approximately €1.9 Billion in deals. The majority of this total came via the acquisition of the publicly listed Dalata Hotel Group (trading under the Clayton and Maldron Hotel brands) by a Scandinavian Consortium for a total of approximately €1.4 Billion, a deal which concluded during the second half of the year. Aside from this deal, other notable transactions in the second half of 2025 included the acquisitions of the Radisson Blu Hotel at Dublin Airport (€79m) and the Citywest Hotel Dublin (€148m). PRIME YIELDS Prime hotel yields in Ireland have remained stable, underpinned by strong operating performance and continued investor appetite. We expect yields to remain broadly stable in the near term, supported by limited prime stock and disciplined pricing expectations. SUPPLY & DEMAND The Irish economy performed strongly in 2025 - headline GDP grew by double digits year‑on‑year in Q4, although this was heavily distorted by export front‑loading. A clearer and more realistic barometer of changes in living standards is Modified Domestic Demand, which rose by 4.9% compared with Q4 2024, supported by solid growth in personal consumption (+2.9%). CSO data point to an improved leisure travel picture at the end of 2025. Overnight trips by overseas visitors increased through the second half of the year, reaching 6.4 million on a rolling 12‑month basis in December. Growth was strongest from Great Britain and North America, while demand from Continental Europe began to recover late in 2025. Average length of stay remained stable at around seven nights, although average daily spend eased over the past six months to €154 in December. PERFORMANCE Operational performance remains strong in the Irish market. Occupancy levels ranged between 77% and 83% on a rolling 12-month basis at the end of 2025 across all main hotel markets (Dublin, Cork, Galway, Limerick) with occupancy higher in most markets versus a year earlier. Room rates were slightly higher across all markets at the end of 2025 compared to 12 months earlier while RevPAR was also higher at the end of the year, particularly in the Dublin and Galway markets.

Key takeaways Most hotels still run passive BI. Teams spend hours building reports from PMS data that’s already outdated by the time anyone reads it. The analysis phase of a commercial strategy is where most VPs lose time and miss out on revenue. The expectation for hotel BI has shifted. In 2026, a business intelligence platform should explain what changed, why it matters, and what to do next, not just display data for you to interpret. AI-generated performance narratives replace the morning report. Instead of 30 minutes reading tables, revenue managers get a plain-language summary of overnight shifts in pick-up, ADR, segmentation, and occupancy. Agentic AI goes further than summaries. It proactively scans billions of daily data points across a 90-day forward window, filtering noise to surface the highest-priority opportunities and risks, then delivers an ordered list of actions directly to your inbox. Governance is the missing conversation. As AI moves from reporting to recommending, commercial teams need clear frameworks for who can override what, how recommendations are audited, and what happens when the team disagrees with the system. What is hotel business intelligence? Hotel business intelligence (BI) is the practice of aggregating valuable data from various systems across your organisation, including your property management system (PMS), and transforming it into actionable insights to inform commercial decision making. Performance analysis is the most neglected pillar of hotel commercial strategy BI acts as the bridge between collecting and analyzing performance data, and actually using it to the benefit of your business. But for a lot of hoteliers it’s where the bottleneck appears. The PMS holds the richest operational data of any hotel system, but extracting usable insights from it can take hours of manual formatting, cross-referencing, and report-building. When the weekly performance review lands on your desk, the market has likely already moved. Pricing has shifted, compset behavior has changed and the final insight arrives too late to meaningfully act on. The result is an unwanted lag in the pipeline between data, insight and action. Hotels collect enormous volumes of performance data but in reality very little of it gets used for timely decisions. Every hotel commercial strategy depends on a number of crucial elements: predicting demand , pricing rooms optimally , distributing inventory correctly, driving direct bookings, analyzing and benchmarking performance. Analysis is consistently the slowest, most manual, and most under-invested of these. As Jeff Hinkle, Associate VP of Revenue Management at Stonebridge Companies, put it: Automated reporting and live insights changed the revenue manager’s role from being a report puller to being a strategist who actively shapes property performance. That shift is still incomplete at most hotels. Too many revenue teams are still pulling reports rather than making decisions. What is your PMS data telling you (and can you hear it)? Your PMS is a goldmine of useful data that can make a big impact on your commercial decision making. It can also be one of the hardest repositories to extract actionable insight from. The issue isn’t data scarcity,

In many hotels, marketing and revenue management are both active and focused on driving performance. Rates are being adjusted in real time, campaigns are being deployed across channels, and teams are working hard to keep up with demand. On the surface, it appears that all the right pieces are in place. But those pieces aren’t always working together. In practice, marketing and revenue often operate in parallel rather than in sync. And while that disconnect may not be immediately obvious, it has a direct impact on conversions and overall profitability. When strategy is misaligned, even strong individual efforts can fall short of their potential. This can create a significant liability gap across hotel operations . This isn’t a new issue, but it has become more pronounced as booking behavior has shifted . Shorter booking windows, more price-sensitive travelers, and increased competition across digital channels have made timing and alignment more important than ever. Since Covid-19, travel demand has rebounded with more volatility and less predictability, requiring faster, more coordinated decision-making across commercial functions. Where the Disconnect Shows Up The gap between marketing and revenue rarely appears as a major breakdown. More often, it shows up in small, everyday moments that accumulate over time. A hotel may be experiencing a soft midweek period, but the homepage continues to promote a broad seasonal offer with no urgency or relevance to those dates. A revenue team may adjust pricing to stimulate demand, but marketing channels haven’t been updated to support that shift. There are also no targeted email and no reinforcement across social channels. In other cases, campaigns are launched based on pre-planned calendars rather than current pacing. A package or promotion may look appealing, but it’s not aligned with need periods or profitability goals. Even outdated website content can create friction, especially when guests encounter messaging that does not reflect current availability or the experience being delivered today. Individually, these moments may seem minor. Collectively, they represent missed opportunities to predict and convert demand more effectively . Why It Happens In many cases, the issue is a structural gap. Revenue teams are focused on data, forecasting, and optimization . Marketing teams are focused on storytelling, content creation, and campaign execution. Both are moving quickly, often on different timelines and with different priorities. Without a consistent connection point, alignment becomes reactive rather than intentional. There’s also a long-standing tendency in hotel marketing to treat campaigns and content as relatively static once launched. A homepage banner, a seasonal offer, a social media campaign, or an automated email sequence is created and then left to run. But demand’s not static. Pricing changes, booking windows shift, and external factors influence traveler behavior in real time. As noted by Deloitte in its travel industry outlooks , the ability to respond dynamically to demand signals is becoming a key differentiator for hospitality brands. When marketing doesn’t evolve alongside revenue strategy, it quickly becomes outdated. What Alignment Actually Looks Like Alignment doesn’t require a complete overhaul of systems or

WASHINGTON - U.S. Travel Association President and CEO Geoff Freeman issued the following statement on the House passing funding for the Department of Homeland Security: We thank the House of Representatives for taking the final step to end the longest Department of Homeland Security shutdown in history. While the bill passed today restores funding certainty for much of DHS, there are no real winners in a shutdown. More than 1,100 TSA officers have already left the workforce, morale has been undermined, and with just weeks until the World Cup, our preparedness has taken a step backward. We emerge from this disruption weaker, not stronger. Over the past seven months, it has become clear that some in Congress are increasingly willing to use government shutdowns to advance political goals. That approach carries real consequences for our national security and the traveling public. Congress must ensure that TSA officers and air traffic controllers are never again treated as political footballs. Lawmakers should act to guarantee that these critical workers are paid during any future shutdown.

World Cup demand is arriving later, behaving differently, and rewarding hotels that adapt in real time rather than rely on traditional forecasts. For years, the 2026 FIFA World Cup has been positioned as a guaranteed demand surge for hotels. Millions of international visitors. Billions in economic impact. A major lift across every host city. But with the tournament approaching, the data is telling a more nuanced story. Across the U.S., hotel bookings are tracking close to last year’s levels rather than significantly above them. In key markets like New York, Philadelphia, and San Francisco, forward demand has yet to show the kind of meaningful lift many expected. At the same time, hotels that initially pushed rates aggressively have started adjusting pricing as booking pace comes in softer than forecast. The opportunity hasn’t disappeared. But it’s not going to show up the way many hotels planned for. Demand isn’t missing. It’s just behaving differently. One of the biggest misconceptions about the World Cup is that it would behave like a traditional large-scale event, with steady booking curves and predictable demand. That hasn’t been the case. Instead, demand is emerging in a more fragmented and compressed way. Booking levels in many host cities are only slightly above last year, and international visitation appears to be tracking below early projections. External factors are also playing a role, from rising travel costs to geopolitical tensions that are influencing how and where people choose to travel. What hotels are seeing is not a lack of demand, but a shift in how it materializes. Demand is more sensitive to price, more concentrated around specific matches, and more likely to come in closer to arrival. Early signals created a false sense of demand Part of the disconnect comes from how early demand appeared. FIFA reserved large blocks of hotel rooms across host cities, which initially made booking levels look stronger than they actually were. When those rooms were released back into the market, supply increased quickly without a corresponding surge in traveler demand. At the same time, many hotels priced aggressively in anticipation of a major influx of international travelers. In some cases, rates more than tripled compared to pre-event levels before being adjusted downward as bookings lagged. That combination has led to what many hotels are experiencing now: softer booking pace, increased price sensitivity, and greater reliance on late demand. The window to capture demand is later than expected What’s becoming clear is that the World Cup demand curve is more compressed than traditional forecasts assumed. Much of the booking activity is expected to happen closer to match dates, particularly as teams advance and fans make decisions based on performance. That makes long-range forecasting less reliable and real-time responsiveness more important. Hotels that wait for pace to build in the traditional way risk missing the window entirely. The opportunity is still there, but it requires a different approach to capture it. Strategy needs to shift from forecasting to reacting This is where many hotels will either

The World Travel & Tourism Council (WTTC) today announced a new chapter for its global leadership and team, bringing together executives and former C-suite leaders, industry experts, and Ministers from across the Travel & Tourism industry to reflect the diversity and international nature of the private and public sector. The leadership team demonstrates WTTC’s evolution to meet the current and future needs of the global private sector, with a broader mix of nationalities and expertise spanning different elements of the sector. WTTC’s expanding team features 21 nationalities across five continents, including British, Spanish, Mexican, Saudi Arabian, Indian, Chinese and Kenyan. A strengthened Global Leadership team WTTC’s new leadership structure combines deep expertise across key strategic priorities: Esteban Velásquez Wilhelm, Executive Vice President, Business Development and Members leads global commercial strategy, member engagement, and strategic partnerships. With more than 25 years of experience across the global travel, hospitality, and travel technology sectors as former CEO of Karisma Hotels and Price Travel, Esteban brings a strong track record in driving growth and long-term value creation. Hon. Najib Balala, Executive Vice President, Advocacy, Government Affairs and Research leads WTTC’s global advocacy agenda, government engagement, and policy research. A globally recognised public-sector leader, and former Tourism Minister of Kenya for more than 12 years, Najib brings extensive experience in shaping national and international tourism policy and strengthening enabling environments for Travel & Tourism growth. Maribel Rodríguez Gamero , Executive Vice President, Destinations works closely with destination leaders worldwide to support their growth and increase their representation in WTTC. With over 25 years of international experience spanning aviation, hospitality, global events and destination development, Maribel brings deep expertise in shaping destination strategy and strengthening global tourism ecosystems. Sarah Jukes , Vice President, Strategic Communications and Content oversees messaging and content development to amplify the voice of Travel & Tourism and position WTTC’s advocacy efforts. Sarah re-joins WTTC from Burson, London and brings significant experience in strategic communications, international affairs and thought leadership across three continents, supporting engagement with governments, global institutions, and key stakeholders. Julio Solvas , Chief Financial Officer oversees WTTC’s global financial strategy, governance, planning and reporting. With more than three decades of experience in multinational and travel-related organisations, Julio brings expertise in financial management, multi-country operations and supporting organisational growth. Caroline Moultrie , Strategic Lead, Together in Travel Christopher Imbsen , Vice President of Policy Lola Uña Cárdenas , Vice President of Government Affairs Natalie Duggal , Finance Director Nejc Jus , Research Director Esmeralda Rios , Chief of Staff Pablo Dopacio , Human Resources Manager Marcela Lizarraga , Strategic Partnership Director Mansor Waleed Al Abdullah , Regional Director Middle East Adolfo Reyes , Europe Membership & Engagement Director Juan Antonio Arellano , Regional Director LATAM Roberto Palais , Regional Director Europe & Africa Destinations Sarah Wang , Regional Director Greater China Daniela Wagner , Commercial Director A truly global organisation WTTC’s operations are based in Madrid, with regional directors located across Latin America & the Caribbean, North Asia, South-East Asia, the

ARLINGTON, Va. – The U.S. hotel industry reported positive year-over-year comparisons, according to CoStar ’s latest data through 25 April. CoStar is a leading global provider of online real estate marketplaces, information and analytics in the property markets. 19-25 April 2026 (percentage change from comparable week in 2025): Occupancy: 67.7% (+4.0%) Average daily rate (ADR): US$169.17 (+4.3%) Revenue per available room (RevPAR): US$114.45 (+8.5%) Among the Top 25 Markets, New Orleans reported the largest increases in occupancy (+19.0% to 73.7%) and RevPAR (+34.3% to US$155.18). Helped by the NAB Show, Las Vegas posted the highest ADR lift (+17.8% to US$261.45). Overall, 21 of the Top 25 Markets saw a jump in RevPAR. For more information about the company and its products and services, please visit costargroup.com . Additional Performance Data CoStar’s world-leading hotel performance sample comprises 94,000 properties and 12 million rooms around the globe. Members of the media should refer to the contacts listed below for additional data requests.