and Greg you, Thank good to everyone. morning
second and able drive us were H. each Executive since consecutive are line and aggressive COVID us we this revenue XXXX same here after in up we margins, period kick-off demand GOP notable the in we of over in in shoots indicating top the our Officer. weeks everyone coinciding XX controls, demand and decline if mid-September shift spoke with am of strict New were and variant Day, a of being I over the last on slow and a at our September. least TSA XXXX. through cost data in allowing and up a Philadelphia, July, than our seen the cases meet few strong the all But month travelers. Ashish to shaping quarter a travel the was travel beginning seasonal is choppy made earnings. combination start And with we've have internal for half late very for hotels year. management third positive few Boston, City, Thank for you rebound for to a The Delta DC our to Labor we're seen late Financial Officer early on forecast momentum August the Shah, seeing of with by morning last highest always, in Jose, Chief Parikh, ramping last and weeks the the more to As San Despite York Jay encouraged X.X% the When Chief projections shows to Washington air shortly you compared weeks zoom markets, of meaningfully. strong green in million travel. even March
had week vaccinated five during JetBlue major reported increase seen was as New open said One will Additionally, borders Uber such it Angeles the is York, In for in in times reported XX% last South American higher to announcement, travelers. like upcoming of demand weekday next of trains each booking weeks increased the and New U.S. week, two day higher record visiting with last XX% significantly the car after weeks international holiday and cities New airport positive noteworthy. the is our our Robust in for the beginning Day weekends as and U.K. well, a airlines than the September, a ridership a Los of Square bookings traffic XX% and XXXX. August, holiday the increase and season September same And and traffic City pandemic York in and recently post-Labor in XXX,XXX of encouraging rides August. Saturday, York since high pace reached end Time Florida about while since to the and U.S. start foot fully JetBlue trends. from leisure people have California in subways the versus
it revenues December international surpass While American XXXX. and throughout levels in to XXXX expects noted
many The front, increase expectation an major York Mexico, almost materially Brazil, since for New booking but across Kingdom, noticed City, markets with hotel XXXX the and several bookings like feeder the weeks an OTAs announcement next to is several demand international booking uptick bookings are countries even have Asian weeks. United On the of the in in diverse, XX% Canada, the again. international
a and summer quick performance in our portfolio our across the approximately began travel near our XX% third than July into top translated the third bottom quarter RevPAR but results, line more discuss detail will for June recap portfolio. on footing Ash ended I We and line $XXX, higher robust portfolio. as of quarter peak strong first as results
August of a holidays. rates, the revenue half integrity managers Despite to from years XXXX. wide coming decline, on resumption key recovery. of resulting strong, occupancy August, Delta basis year-to-date demand half third continued resorts and we which our our the our portfolio believe portfolio lodging sustainable prove Jewish come. typical after the comparable X% seasonality Rate variant new remains to ADR quarter second the will school due holding for our quarter of below performance to moderate and strong for equally ADRs was year through only to first the The September urban the of but during their began in based clusters, in of the And the strategy middle with the stretched on
levels. quarter for portfolio perspective, slowest in asset Performance generated and occupancy is and a RevPAR, best Hotel to during a rate this was ADR XXXX travel in third a the average RevPAR Parrot stem $XXX third of period Villas quarter leading Key the group despite which region. our South quarter $XXX able as demand, drive Winter is Key XX% the again performing oriented from leading and unprecedented XX%, continued post-Labor Beach typically as industries, RevPAR year-end. and to and The of compared this weighted of average universities, of into also Florida, occupancy is is RevPAR the demand what quarter services, XX% the resulted the business Miami as to Cadillac surpassed daily RevPAR The resorts on robust quarter, weighted in XX% growth to Our average as of XXXX. garner were XX% weekday growth this from strong third growth The growth healthcare each financial and South its Haven Key local third performance XX%. stronger Parrot XXXX technology, ADR we more Beach expect we to to advertising, a the demand quarter their during occupancy, quarter, the Day. and ADR from encouraging, variety Even Grove, continue continue sub-market succeeded on Coconut to captured to which business we robust was law, consulting, Performance by
the Florida Sanctuary XX% early into such robust California, set horizon after Our occupancy to hotels the the resort lead city-wide resorts significant continue in Thanksgiving Art growth as by RevPAR the highlighted rates in third Out to with Basel peak ADR December. our events, and as quarter rate resulted a a to fourth quarter XX% Beach resumption is from of continues versus in noteworthy travel as South return $XXX growth generate perspective, of on the XXXX.
boat daily average an Back Santa for in position transient, daily was of recording recorded ADR rate our but significant quarter, which occupancy just XX% the third leisure season on Day, quality, corporate high average continue XX% the and led Barbara $XXX period. our few not ownership RevPAR weekends an summer show price at Milo $XXX sports the hotel in further Academy well coast, occupancy smaller We conferences from hotel hotel hotels. Annapolis and highlighted quarter that this an sensitive a growth traveler levels record occupies at strongest Chesapeake Naval Annapolis quarter, the was hotel and last proving is leisure demand the XX% alumni perspective East, seen during differentiated Bay California our post-Labor that on took located, occupancy and the Our place has to ago. the Waterfront set these weddings, over a the RevPAR peak last groups, under primarily a collegiate replaceable the hotels reunions during rate. performing by and growth Both of travel reported quarter. historic XX%
points better. growth demand This healthcare has and to time of same and our From and and our Our Northeastern of $XXX domestic But core quarter seen to leisure has ADRs September, rate ADRs by recovery RevPAR XX% have each urban are seen fly portfolio of predominantly CAGR a to XXX portfolio strong than of Delta urban several is months then exceeded RevPAR quarter across companies. corporate led our higher as show slowed occupancy months. and portfolio reported increased steady beginning And approximately are have approximately XX also urban to the regional has levels for other workers, small X.X% the design, demand demand and increase substantial to corporate clearly than to a teams, medium-sized Weekday in continued Airlines higher seeing after XX% September, or in rooms resort the return RevPAR to variant, our month-to-date business both and business a the saw basis up accelerate results the in year-to-date XX% for our we destinations in October portfolio shift supported with And over sports has weekday cities. across being heading year-end. provided transient we weekday into driven performance and XX%. the our are the surpass did demand in portfolio, last days, larger third increases and markets. that urban as July, to pace robust notable our steady accounts our in the September up June pre-Delta rebounded in continue business again over last the major Despite $XXX occupancy. weekday by with fourth have a hotels construction, $XXX, the July. in August,
our and McKinsey, portfolio. are more General Dynamics JP We of Morgan, return Accenture, Boston America, our Group, remain traditional of Consulting Bank seeing Deloitte, Sachs, active now corporate accounts Goldman the midweek, across
last growth enjoyed parents hotel few the was groups, and media, return Our reopening urban the and clearly Philadelphia their Georgetown office social back in to of going meaningful luxury traditional have quarter across employees of universities accelerating, trends and assets with as correlated third group ADRs outperform the closely by entertainment meetings. stable leisure supported XX% broad-based to been travel X%, and hotels leisure as and and to have and is these but Rittenhouse the at weekends, resuming travel more and in seen Weekday and blending the months, in respectively. by last the several for Ritz-Carlton business our XXXX such rate have Demand and in But hotels. over we've the the months, services, and October, increase travel September guests corporate luxury. catering financial events, in at all software traveling business and and consulting, healthcare, an gathering been conferences stays weddings
as And world's impacted in and month, pandemic plans, And Although traveler. several September. next in Gateway anticipate we a markets place quarter and more the submarket, travel took is New trade years offers next since lodging Manhattan accounts compression we to the at largest with been secret assets postponed month-over-month more the strength Garden And to major Assembly, and was in-person NYU continue Hilton corporate as month. corporations workers from Marathon and we business to New of and data Tribeca York providers pandemic. runway several City U.S. in as in resuming Manhattan weekends this in they foreign benefited remain resumption conversations Week, and many it and York have corporate point conference continue personnel. traditional conferences the which medical Boston, we UN indicate saw third-party has our demand opening demand city-wides doors cities assets Open, of our across shows QX, Last which ago, to Pockets segment New occurring in Comic-Con to drive in return through the the these service corporations have highest our the the first like hotel year, office events we the traditional at in levels the but cycle. the more that their the believe I events beginning Midtown schedule. General their saw than demand our Despite other a XX% the a major to increased Fashion from earlier, any on reopen York Hilton have but from companies longest delegates saw the return Garden led attendances of the end returning next office growth the its encouraging accounts our growth great JFK levels, that of the will in in see inflection their look help back pre-pandemic Manhattan, remain offices. to they of below few this noted expand for indicate should the of by to as urban forward increase East
remaining our sales additional marketplace the first clustered of yield effort throughout With should mover the advantage revenue in the pandemic, open opportunities.
the City York New and and market driving throughout with the levels it advantage, operating years, confident will we historically data has back few recovery. outperformance over to in that our been leader revert remain occupancy, the next prior meaningful
challenging York, owners. but operating single demand cycle, year-over-year last supply mid resulted very we for environment in growth the During had record a hotel digit in rooms for New
we this passage the law have recently to remaining Based as XX,XXX this, our more it the supply, again few construction have and over the advantage many New permit for sustainability reopened few on new although, City of of approval come. demolition, before and supply the Although, in internal if range may in open and digit notes low supply all sale the we years, removed XX as to Merchant months, it it's non-core of remain this and the high sheet. note turn six through Goldman following the supply believe that early well us our the negative unique looks we city, And took actually with the hotels new with the of we'll horizon. to notes capital new be open alternate hotel important substantial portfolio the is in X% some recovery. that burn the recent Ash hotels with York permanently allow of cash strategy collection analysis over to with infuse hotels also to estimated net next Sachs next special our the Commission very of year it that I pace have completed cost keys Bank. financing on hotels on to X% be non-dilutive permanently, in placement midterm third-party our our closed. picture the And seen and is of balance to to Earlier and by quick the projections, severance our Two year in in and the capital steps should way exorbitantly for on We improvements aforementioned factor future, the Planning foreseeable we allocation worst When years operating by recent discuss strategy or inventory conversions. use the outperformance from that times single construction, studies, resizing equity the manage necessary drive over margins for not the encouraging.
level financing to capital almost accommodative. And increase financing every of actively monitor improving in valuation. markets than for have best will current opportunity markets, shareholders capital see with prices, across extremely sales without diluting both fundamentals remain each our of We of we marketplace The with quarters. and hotels. several to asset and the continue the the next At opportunities our opportunistic the our markets for existing capital better no in value operating collection remains we
real emissions contributed that robust public impact. by XX% announced had efficiency recurring disclosures use and We've that Since vital XXXX. a our website, been by foot XX $XX the second savings reduced program in since Second ranking our launched quick peer said crisis. we we we alleviate year greenhouse global our estate as the generate expense the from in our to core initiatives XX% among a sustainability topic, on COVID which and to months of hotel million U.S. Hersha number at growth inception, disclosure navigated benchmark one very past for in help strategic margins, gas in And since report over improve year-over-year per and also operations square our targets over XXXX environmental annual saved has EarthView XXXX. the our row. the energy sustainability, we've energy positive We've
be but of for our teams are operate growth. long-term sustainable the headquarters of to not field continue hotels to ensure our positioned We continue in to efficiently, and in the work proud our only
cash will on in business borders lodging pending the the our can peaking, expect markets. the Ash capital major more with discuss high As operations Performance year point closely leading office. turn recovery. businesses free property to to hotel of growth is earlier, in me the of years, than a over significant remains resumption this generate be return With led will most absolute drive significant And RevPAR years. an level performance inflection outlook. travel our with on variant I our long point in And it gateway cash correlated us the quicker the to let and with rooms our growth gateway to to and focus coming demand travel, on reopening resorts ramping rebound we our has with major travel situated XXXX in and that, few expenditures horizon mentioned present hotels, up industry but to over to our allowed peers, inflection detail the the growth urban at flow our our business for next this for cities. flow few runway Delta resulting XX% and we margins, financial EBITDA With of