{
  "report_rows": [
    {
      "kpi": "Q2 adjusted FFO per diluted share",
      "prediction": "BEAT",
      "answer": "pred ~$0.62 vs. cons $0.61",
      "confidence": "MEDIUM"
    },
    {
      "kpi": "Q2 comparable hotel RevPAR growth",
      "prediction": "BEAT",
      "answer": "pred ~5.4% vs. cons 5.0%",
      "confidence": "MEDIUM"
    },
    {
      "kpi": "Q2 Adjusted EBITDAre",
      "prediction": "BEAT",
      "answer": "pred ~$505M vs. cons $499M",
      "confidence": "MEDIUM"
    }
  ],
  "guide_rows": [
    {
      "kpi": "Comparable hotel RevPAR growth",
      "prediction": "BETTER",
      "answer": "guide ~4.3% vs. cons 4.2% (FY2026)",
      "confidence": "MEDIUM"
    },
    {
      "kpi": "Adjusted EBITDAre",
      "prediction": "BETTER",
      "answer": "guide ~$1.845B vs. cons $1.825B (FY2026)",
      "confidence": "MEDIUM"
    },
    {
      "kpi": "Adjusted FFO per diluted share",
      "prediction": "BETTER",
      "answer": "guide ~$2.18 vs. cons $2.16 (FY2026)",
      "confidence": "MEDIUM"
    }
  ],
  "day1_residual_pct": 1.8,
  "day1_confidence": "MEDIUM",
  "day5_residual_pct": 0.8,
  "day5_path": "FADE",
  "day5_rationale": "Q2 World Cup and luxury-demand upside should produce an initial positive reaction, but guide ~$2.18 vs. cons $2.16 implies only modest out-period revisions; the raised full-year RevPAR outlook still embeds second-half growth of roughly 2.5%-3.0% after an unusually strong first half, encouraging a partial fade.",
  "day5_confidence": "MEDIUM"
}