Based on the business that has been disrupted at the Hotel as a result of the labor activity, the Company anticipates that full-year 2024 total portfolio RevPAR growth will be 125 to 150 basis points lower, Adjusted EBITDAre will be $11 million to $13 million lower and Adjusted FFO Attributable to Common Stockholders per Diluted Share will be approximately $0.06 lower than the 2024 outlook as presented in the Company's second quarter earnings release. Approximately $6 million to $7 million of the total estimated Adjusted EBITDAre impact relates to business that was disrupted in the third quarter, with the remainder related to business that has been cancelled for the fourth quarter. The Company expects a portion of the group events that have been cancelled will be rebooked at the Hotel for a future period.

The estimated impact on the Company's prior full-year 2024 outlook is based only upon business that has been disrupted at the Hotel as a result of the labor activity and the Company expects to provide an updated 2024 outlook, including any changes in expectations for the remainder of its portfolio, as part of its third quarter earnings release on November 12, 2024.