Good some results, Ashford of an recent call. I’ll morning, Trust our current and welcome call. operational will themes of by it. accomplishments our start like Deric and our the an to I’d will navigating Chris After been and then environment highlight provide portfolio. our and providing update to that, financial how for has review overview industry our the on main
moved First, improvement each the sequential we as strength and RevPAR third the we expect through quarter. quarter month continued saw second through
Additionally, XXXX had far. we’re excited June’s performance we’ve thus month was versus best that the RevPAR
both our to approximately asset of positive million per the CapEx quarter and also $XX net capital in report we dividends. discount our preferred ended net position $X.XX, cash where equates quarter approximately $XXX and liquidity of yesterday’s price With diluted with strong. stock from be ended quarter. our increase $XX after to working a generated believe I’m Second, capital, cash approximately we per at which trading of million closing pleased We the share, to to is are continue first that an value net and we flow the meaningful we share and share. per working
the quarter, leverage SEC registration equity. non-traded net points. equating decrease to our financial improved Since offering we ratio, preferred position. a we preferred statement to future XXXX, percentage equity plus approximately the last a we peak lowered $X plus billion by preferred leverage in with net lowered defined gross our for debt our our of Third, in as equity over by overall its have XX and assets filed have debt Fourth,
future over our defense of demonstrates accretively this to capital, to our announcement allow us particularly trading market material offering net access attractive portfolio growth from the an conditions. to subject We lodging believe strategic advantage, given this significant grow cost to their are at we offense REITs will that discounts fact to a this Importantly, asset time, as capital attractive is provide values. competitive believe pivot
now offering of effective non-traded We XXXX. in are issuing and on equity expect third of commence to amounts quarter beginning preferred the this limited the
sheet, We we for on have refrained we capital in common taking this the any hospitality the to Company by capitalize from our strengthen are to about and the actions opportunities are feel that, Having long-term raising outlook seeing optimistic strategic year. equity we well-positioned industry. said balance
stock we circumstances, softness to these raising the extent, our at with our anticipate levels. currently use preference capital successful be equity are the for current our Given To preferred in don’t price common would we and capital non-traded raise, future capital growth. that our
Bay, pleased loan to come and of next months, their We the of D out cash in we’re our Pools E over remain in our XX and & including Back to pools hotels, our several loans be traps several Crystal that Renaissance believe may our expect note including We exiting XX other Gateway. several of respective KEYS however cash Marriott have successful months to Nashville recently their Hilton of traps. in traps the XXXX
second for but higher during spending run-rate XXXX, the well CapEx. For spend approximately was our is CapEx historical previous still than $XX.X years, the quarter CapEx two million. below our
cited for effective years, that the impacts issued we’re risks portfolio, measured inflation, been or given the uniquely adjust in high-inflation recently against seen our and hotels months potential account hedge CBRE an short variations the short-term related can hedge report due lease while as prices of industry rapidly any Their a monitoring good hotels to Additionally, inflation. as have against the benefits to hotels an days environment periods highlighted rather in current model than to that inflation.
rate. the historically above the fact, shown that to high during periods hotels inflation In have highlighted report grow of ability their profits inflation,
period the this We the out play we inflation industry. seeing experiencing are current in high during are
of from with in best XX% for operating versus our the lodging saw versus is RevPAR was the at second turn increased quarter, for in month June versus we’ve the showing year. RevPAR now result X% performing along thus industry across second versus with month X% This The last down the of XXXX. for the a hotels. performance had being of the month of quarter second XXXX. X% hotels the me what clearly RevPAR decrease the numbers to approximately quarter approximately all XXXX signs with best equates only down environment with consistent improvement. XXXX. portfolio far, to RevPAR Preliminary we July June portfolio are Let the versus
of strong diverse geographically best-in-class of business, to consisting the leisure, U.S. we remainder seeing across ahead we companies XXXX, on the high-quality brands Looking management our believe and group. capitalize are demand well-positioned to and is portfolio, with assets
also us We optimize sets apart. costs to that the able Remington, been aggressively, for believe standpoint from our years. an revenues outperform and believe really many with operations industry Remington consistently to has enabling relationship affiliated property We our manager, manage us
Additionally, sell remains an important component our certain recycling opportunities are capital of to assets. we strategy, non-core and pursuing
sale. the full closing contract service asset to asset market one for full in likely most with service quarter another third We under and sell currently have
spending, as expect our and future financing. our sell into any on potential we towards paying CapEx market net strategic others. these RevPAR Whenever will impact factors down assets, EBITDA, takes consideration We among sales leverage, proceeds such growth, approach go from many
relations, the to in order communicate opportunity investor strategy, with to we to in investment and road get to attractive Turning continue investors, Trust. Ashford what we out an believe our meet explain on be
Street Wall which meetings and industry conferences, nearly numerous attended have We investor XXX led to have year-to-date.
the the half This place to in balance We coming and continuing move across Trust. of speaking many maximize to plan grow our second in during the operating look opportunities have assets, company, over to events. sheet several have and looking improving we and for forward to and those of conferences plan the value time, believe we liquidity at invest the the We portfolio. right of year Ashford up grow performance our more you with optimizing includes forward
expect a cash on asset comes will sales, the and a track in substantial of our non-traded ended about ventures continue We call us. preferred when our with to We forward. Deric over the of have launch to of and of acquisitions, quarter see financial with second record turn plans to and are property stock front part excited opportunities we our we review moving of offering, the XXXX quarter to it our success balance be they amount I the sheet joint second will now performance.
