{
  "report_rows": [
    {
      "kpi": "Adjusted FFO/AFFO per share (Q2)",
      "prediction": "BEAT",
      "answer": "pred ~$0.67 vs. cons $0.62",
      "confidence": "HIGH"
    },
    {
      "kpi": "Comparable Hotel RevPAR (Q2)",
      "prediction": "BEAT",
      "answer": "pred ~$250 vs. cons $244.77",
      "confidence": "MEDIUM"
    },
    {
      "kpi": "Total Revenue (Q2)",
      "prediction": "BEAT",
      "answer": "pred ~$1.65B vs. cons $1.62B",
      "confidence": "MEDIUM"
    }
  ],
  "guide_rows": [
    {
      "kpi": "FY2026 Adjusted FFO per share guidance",
      "prediction": "BETTER",
      "answer": "guide ~$2.15-2.20 (mid $2.17) vs. cons $2.13 (FY2026)",
      "confidence": "MEDIUM"
    },
    {
      "kpi": "FY2026 Comparable Hotel RevPAR growth guidance",
      "prediction": "BETTER",
      "answer": "guide ~3.5%-5.0% (mid ~4.25%) vs. prior guide mid 3.75% (FY2026)",
      "confidence": "MEDIUM"
    },
    {
      "kpi": "2H2026 RevPAR growth deceleration commentary",
      "prediction": "UNCHANGED",
      "answer": "guide ~low-single-digit (~2%) vs. cons expectation ~2% deceleration (2H2026)",
      "confidence": "MEDIUM"
    }
  ],
  "day1_residual_pct": 1.2,
  "day1_confidence": "MEDIUM",
  "day5_residual_pct": -0.4,
  "day5_path": "FADE",
  "day5_rationale": "Q2 captures the peak (~two-thirds) of the World Cup RevPAR tailwind, so even a clean beat and modest full-year raise leaves Q3/Q4 comps tougher and rate growth decelerating to low-single digits; analysts likely trim out-quarter RevPAR/AFFO estimates as they roll forward, causing the initial pop to fade as the 'sell-the-news' dynamic (stock already +46% YoY, trading above mean PT) reasserts itself over the following days.",
  "day5_confidence": "MEDIUM"
}