{
  "report_rows": [
    {
      "kpi": "Adjusted FFO per share",
      "prediction": "BEAT",
      "answer": "pred ~$0.62 vs. cons $0.60",
      "confidence": "MEDIUM"
    },
    {
      "kpi": "Comparable hotel RevPAR growth",
      "prediction": "BEAT",
      "answer": "pred ~5.1% vs. cons 4.6%",
      "confidence": "MEDIUM"
    },
    {
      "kpi": "Adjusted EBITDAre",
      "prediction": "BEAT",
      "answer": "pred ~$532M vs. cons $524M",
      "confidence": "MEDIUM"
    }
  ],
  "guide_rows": [
    {
      "kpi": "FY2026 comparable hotel RevPAR growth",
      "prediction": "UNCHANGED",
      "answer": "guide ~3.75% midpoint vs. cons 3.8% (FY2026)",
      "confidence": "MEDIUM"
    },
    {
      "kpi": "FY2026 Adjusted EBITDAre",
      "prediction": "UNCHANGED",
      "answer": "guide ~$1.810B midpoint vs. cons $1.812B (FY2026)",
      "confidence": "MEDIUM"
    },
    {
      "kpi": "FY2026 Adjusted FFO per share",
      "prediction": "UNCHANGED",
      "answer": "guide ~$2.13 midpoint vs. cons $2.13 (FY2026)",
      "confidence": "MEDIUM"
    }
  ],
  "day1_residual_pct": 2.4,
  "day1_confidence": "MEDIUM",
  "day5_residual_pct": 0.8,
  "day5_path": "FADE",
  "day5_rationale": "A ~$0.02 quarterly FFO beat versus ~$0.60 consensus and ~$8M EBITDAre beat versus ~$524M consensus should support an initial positive reaction, but unchanged ~$2.13 FY2026 FFO guidance versus ~$2.13 consensus leaves limited out-period estimate upside after the World Cup-weighted quarter.",
  "day5_confidence": "MEDIUM"
}