What the day by day says

1. One month, three different stories

SpringHill Medical Center, May 2026. The monthly report says occupancy came in 9.4 points under the comp set and calls it a bad month. The nights say the first week was one of the best of the year.

Averaged together these cancel out into one unremarkable number. Separated, the first week is a template worth repeating and the middle two weeks are a question worth asking. Note the May 19 to 25 window overlaps the SpringHill system changeover, which is worth checking as a possible factor but is not established here as the cause.

2. The one that costs money

Home2 Suites Dallas North Park, 130 rooms. Filtered to only the nights its comp set ran over 90 percent full, meaning the market was effectively sold out and every empty room was a room someone wanted.

3. Where the portfolio stands on sold out nights

Every property, averaged across nights its comp set ran over 90 percent full, since June 2025. This is the sharpest test there is: when the market fills up, do we fill up with it.

Ten of the eleven properties hold their own or beat the set. Home2 North Park is the one outlier, and it is the only one losing double digits.

4. The nights we were untouchable

Biggest wins since December 2025. Hyatt Place Alliance Town Center takes most of the list, and the dates cluster hard around the holidays.

Christmas week and New Year, running 86 to 98 percent while the comp set sat in the thirties and forties. That is a demand pattern the comp set does not serve, and it repeats every holiday in the data.

5. Eight numbers that are not real

Rows where a missing value was recorded as zero instead of left blank. A zero is a fact, a blank is an absence, and storing one as the other drags every average that touches it.

Before these were spotted, the Hampton College Station row dated 17 April 2026 was ranking as the single worst night in portfolio history on a fabricated zero. Eight rows out of 7,667 live daily rows (str_daily_data, counted 18 July 2026), but the same class as the earlier problems: a blank pretending to be a number.