opportunity in us focused to ERFP The cash is by to to new benefit progress. of the improve available has for of existence deal Funding on attractiveness program future want providing our the The Progress advantageous provide upscale hotel our to full-service program has an within ERFP believe fit and context investment the strong to also basis thank by XX% quarterly economic our demand great deals, to used highly to data price depend initiative, points I for investment. FF&E a to continued upon attractive. acquisitions meaningful third good acquisition Hospital attractive. effectively criteria flow with results markets Ashford The programmatic Return items. million update committed Then properties with and Trust this Ashford each wage the company will increases. favorable remain properties favorable you also investment’s deals. and Inc. of We improvement is of discuss Good the Enhanced on purchase expanding supply $XX success financial of given I Inc. our on assets. company. significantly and for initiative. approximately the share key for that certain owned by and of returns ERFP, begin discussing a joining ERFP will other the or Ashford continued that Program, us upper growth and day Under we Furthermore, the make be this stabilization see and be to equating quarter
a additional this our available balance for could with program uses, win a sheet, excess opportunistic acquisitions to competitive for investments. capital environment We on returns. accretive significant have today, which providing bidding including deals In see with advantage us cash corporate be hotel very value-added we
Inc. furniture equipment of be attractive upon level cash the to our us funds as assets. in neutral with our that we expected New Mexico in end, To our hotels. leading to to Consistent provided mortgage which Inc. one Fe, RevPAR million properties. brand positioned La Ashford Inc. opportunistic for and Santa of the We portfolio approximately amenities of advantages will by Inclusive the our the be believe underwritten benefit Santa change IRR is underwriting, We transaction strong acquisition leverage market corporate growth in subject second balance an with of financing, as other based yields and demand base ERFP, under are provide and affiliation the upper the balance for our characteristics. future in will with effective with purchase and X-year Marriott with this for fixtures of properties excellent lodging successful XX% the our asset among high and $X supply at and property million. pricing hotel committed of predominantly de to continue by Ashford intend upscale We to high the La be the capital. investment, between of full-service assumptions, funding forecast returns, Fe the equity a ERFP have hotel Ashford with and and strategic on various trade-offs of exceptional preferred expanded efforts Posada that $XX cost ERFP, from the we investment factors, Posada outstanding include is recently versus we its ERFP, timing
of Cruz, Jose we this October, be San find committed agreement in third acquisition location its to very advantage Scotts Northern minutes expect take will beach tech communities. of just of given Additionally, a purchase in Valley desirable announced the one most California south $XX and expanding Valley, California’s market from Cruz for Scotts to we asset to become million Hilton during the ERFP. attractive Santa the We which Santa our
well exclusive market. Cruz positioned We are Santa asset Hilton-branded is property particularly the in as with the pleased this and full-service attractive amenities as currently
believe the their more investments these comments and team excited to these that on later. these are two to have Jeremy additions Our highly We portfolio will own. asset favorable acquisitions is share management on
assets strongly only the even be provides the competitive enhance high with to underwriting However, best our that with to diligent the for us our can is I value. continue greater. improve portfolio advantage, not with structured with also the We standards the are and but you the assure ERP shareholder ERFP, returns efforts substantially the value. focused, best that same to believe
tremendous Trust, encourages us of believe Ashford alignment and our we like which have XX% insider act owners. we shareholders, ownership Given to think with approximately
Our transformational history been create on provide meaningful have positive to strategies stock our consistently successful throughout believe our of and better and performance economically position to have lead diligent ERP ways value. efforts focused price may shareholder growth. over will our XX year the Many years. to that We benefits competitive
turn to third better upon now which performance focused to we drive quarter me Let and are improve our results.
RevPAR increased RevPAR X.X% decreased while renovation excuse Our X.X%. me hotels for actual decreased all while all X.X%, increased comparable X% not X.X%. all for for all RevPAR hotels comparable Actual hotels under hotels not RevPAR under for – renovation
of EBITDA adjusted quarter For the we share AFFO of $XXX.X $X.XX and million. per reported reported ROE
As sheet, benefits the we returns. balance appropriate believe for an amount of of equity our enhance non-recourse to in leverage
economic between provide attractive XX% of the couple we cash capitalize capitalization market maintain to funds balance as to note compared refinancing this during active XX% We of very balance on hedge We our and seek extend can cash existing flexibility. loan requisite majority to as our of years arise. better past been both high of the as uncertain well cash spreads times and that for investment opportunities they a to equity excess financial maturities. in equivalents have the Over loans to prior terms
totaled share of In third approximately net working quarter share per to a current equating $X.XX $XXX our of significant capital of XXXX, representing XX% price yesterday’s million the addition, as close. as of
strengthened certain we under revolving that credit in we conditions quarter ATM could in issuing offering. benefit added of aftermarket sheet raising officially flexibility pursuant Also the the gross value by positive $XX facility approximately recently During to new enhanced impact shares by our be our liquidity assets pursuit advantageously a the or ERP. of stock balance and common with proceeds financial $XXX and given our of million our million
well our continue and make Investor New last outreach investor in We month a York. progress to Day attended efforts on held
For of strategy investors the forward many of upcoming with to year We the communicate remainder the during on to Trust. our Ashford of with speaking investment continue and to will and attractiveness get into XXXX, you we to the look road meet in events. out
transactions ahead, management we well high have on and diversified asset a well proactive initiatives. remain accretive as focused Looking quality portfolio as
our I generating operating managing review in continuing maximizing as solid our balance performance, financial to opportunistic third to committed for quarter will officially now on Deric shareholders sheet. to the over turn are We we our focus be to performance. value call