Mobile Sees Record RevPAS as Second Quarter 2026 Results Reflect Broader Operating Growth
Mobile recently released its second quarter 2026 performance results, which showcase a company thriving in the midst of changing market dynamics. At the helm of this growth is Stephanie Hogue, CEO, and Paul Gohr, CFO, who presented the Q2 2026 report during a recent conference call.
The Mobile team reported impressive figures, with same location NOI growing by 12% year-over-year to reach $5.9 million in Q2 2026. This significant increase underscores the company's ability to navigate and adapt to shifting market conditions. Furthermore, same location revenue rose 5.6%, driven by a resurgence of demand across various segments, including transient and monthly parking.
Mobile's tight operating expense management strategy has proven highly effective, as evidenced by its ongoing conversion to management contracts. This shift has provided the company with greater visibility and control over operating performance, allowing them to capitalize on growth opportunities while maintaining financial discipline.
A notable highlight from Q2 2026 is Mobile's RevPAS (Revenue Per Available Space) metric, which hit a record $225 in the second quarter, marking its highest mark in three years. On a trailing 12-month basis, RevPAS surpassed $200. This impressive performance demonstrates the company's ability to capitalize on growing demand and optimize pricing strategies.
CEO Stephanie Hogue emphasized that the team is highly encouraged by these results, particularly the underlying operating story. Portfolio utilization climbed to approximately 70% on a trailing 12-month basis, up five percentage points year-over-year from 65%. The average utilization for Q2 2026 was also the highest it has been since Mobile took control of this portfolio in 2021.
In discussing these results, Hogue underscored the importance of holding operating partners accountable to key metrics. Utilization is the leading indicator, signaling when an asset is ready for the next lever. As more of the portfolio crosses into stabilized occupancy, optionality expands, allowing Mobile to optimize the mix across contract, residential, and transient demand.
Mobile's performance in Q2 2026 reflects a company that has successfully executed on its strategic initiatives. With this growth momentum building, the future looks promising for Mobile as it continues to navigate an evolving market landscape."
