Unresolved Staff Comments.
+Added: Table of Content s
Cybersecurity.
16 unchanged sentences
The ERM Committee reports to the Audit Committee at least annually on the Company’s enterprise risk management and will report cybersecurity incidents to the Audit Committee as they occur, if material.
+Added: The Audit Committee will inform the full Board regarding significant cybersecurity incidents, as appropriate.
Cybersecurity Risks
3 unchanged sentences
Risk Factors - Risks Related to Our Business - Cyber threats and the risk of cybersecurity incidents affecting our hotel managers’ or our own information technology and systems, including third-party service providers, could materially adversely affect our business” included elsewhere within this Annual Report on Form 10-K.
+Added: As of February 20, 2026, we have not experienced any material risks from cybersecurity threats, including as a result of any previous cybersecurity incidents or threats.
Although we have experienced cybersecurity incidents, to date, none have had a material adverse effect on us.
We carry insurance that helps provide protection against the potential losses arising from cybersecurity incidents, although we may incur expenses and losses related to a cybersecurity incident that are not covered by insurance or are in excess of our insurance coverage.
+Added: Table of Content s
Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.