{
  "report_rows": [
    {
      "kpi": "Global RevPAR growth",
      "prediction": "MISS",
      "answer": "pred ~1.7% vs. cons 2.0%",
      "confidence": "MEDIUM"
    },
    {
      "kpi": "Adjusted EBITDA",
      "prediction": "IN-LINE",
      "answer": "pred ~$1.55B vs. cons $1.54B",
      "confidence": "MEDIUM"
    },
    {
      "kpi": "Adjusted diluted EPS",
      "prediction": "BEAT",
      "answer": "pred ~$3.10 vs. cons $3.05",
      "confidence": "MEDIUM"
    }
  ],
  "guide_rows": [
    {
      "kpi": "Global RevPAR growth",
      "prediction": "UNCHANGED",
      "answer": "guide ~2.5% vs. cons 2.5% (FY2026)",
      "confidence": "MEDIUM"
    },
    {
      "kpi": "Adjusted EBITDA",
      "prediction": "LOWER",
      "answer": "guide ~$5.94B vs. cons $5.97B (FY2026)",
      "confidence": "MEDIUM"
    },
    {
      "kpi": "Adjusted diluted EPS",
      "prediction": "LOWER",
      "answer": "guide ~$11.60 vs. cons $11.66 (FY2026)",
      "confidence": "MEDIUM"
    },
    {
      "kpi": "Net room growth",
      "prediction": "UNCHANGED",
      "answer": "guide ~4.75% vs. cons 4.75% (FY2026)",
      "confidence": "HIGH"
    }
  ],
  "day1_residual_pct": -3.2,
  "day1_confidence": "MEDIUM",
  "day5_residual_pct": -4.8,
  "day5_path": "FOLLOW-THROUGH",
  "day5_rationale": "An EPS beat of ~$3.10 vs. $3.05 consensus is offset by FY2026 EPS guidance of ~$11.60 vs. $11.66 consensus, implying roughly $8.50 of second-half EPS versus approximately $8.61 embedded in consensus; weaker RevPAR quality and negative out-period revisions should extend the initial decline.",
  "day5_confidence": "MEDIUM"
}