WE ARE RAISING OUR third-quarter revenue-per-available-room (RevPAR) growth assumptions for the majority of the hotel companies in our coverage — up 150 basis points on average — as summer demand has proved to be stronger than initially expected. Through Aug. 28, we estimate RevPAR in the U.S. and top 15 markets has increased 9.1% (rate up 1.6%) and 10.0% (rate up 2.5%), respectively.

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