Good Aaron. us. begin of and operating current call thank morning, you I'll well review operating for our update with joining a results quarter the on everybody, today's third as you, an Thank as environment.
fortress catch-up the Next, our guidance I'll our for discuss discuss on LAX. sheet, dividend. Afterwards, Courtyard our of provide will our allocation, Bryan an fourth and disposition capital range our approach on balance to the recent a provide update quarter including updated specifics
transient revenues in second driven revenues, X% quarter revenue which group year offset the nearly decline XX increased to quarter, our in in basis nearly our and helped room was performance portfolio over the begin, To comparable revenues. Similar third growth a comparable increase total portfolio X.X%. quarter X% a prior third by room increased RevPAR points
nights both in less and we San were the anticipated room in with softer of we business able that we group Group nights particularly rates. during most we meaningful of group to room on was had while than terms compression, demand, in have several anticipated backfill would room transient Francisco. quarter a bit compression nights shortfall had And rate the witnessed
revenue rate property growth in a portfolio XX% from segments and in revenues. ancillary benefited and comparable transient Total group room increase both other level from
details So results. quarterly the a deeper into of let's operating dig little the
at Long third and and better-than-expected quarter Wailea; from Portland and Our Wharf, growth benefited in market our outside Orleans. in results finally, San D.C.; growth Boston; Washington, Hilton Diego New Boston above-market the growth Marriott capital improvements Bayfront from continued recent in JW
quarter Francisco, roughly weakness third City Offsetting $XXX,XXX in growth those reduced citywide and to in as gains Hurricane loss was attributed XX York Dorian, general Chicago, calendars which well San points. basis as Orlando soft revenue market about in room by New RevPAR
increased and food Despite Total spend the beverage roughly in which the year. healthy food growth only prior occupied a food and marginal nights. basis room this room group were X.X% X% largely was per result a in revenues group up decline beverage beverage points, group and XX revenues, of over
as improved various doing benefit to better a are time, fees. attract by well combination customers guest to driven Plaza the Orlando. job At fees Renaissance Park quarter our from increases our continue these We as cancellation operators as ancillary transient Wailea, the at investments higher Boston collecting quality revenues other group and revenues of a during healthy in aimed same XX% a
we the the In expenses. benefited from commissions, costs decreases Turning third in food now group quarter. during and utility quarter, to expenses
and brands, certain allocated ongoing expenses. by from expenses quarter expenses sales specifically third cost The impacted loyalty including the were negatively pressures,
X%. a the third Wage quarter wages hourly at as pace costs nearly rapid in rise increased continue to
the for prior our on XX XX% last year, compared basis quarter point increased insurance roughly on had discussed impact As margins. to earnings which a call, costs
in X.X% quarter. total, a So expenses, in combined hotel revenues, property decline third X.X% the hotel with comparable increase in resulted operating X.X% the EBITDA in of increase in level
turn XXXX, to starting and the our pace. quarter group attention let's with fourth Now
fourth last pace group has While the New improved Boston, group quarter to in year-over-year anticipate X our a Diego to we Orleans. calendars business in months, the Chicago, over San in quarter due fourth moderation and citywide continue weaker
deficit San hopeful are quarter. Baltimore markets will and some stronger of we However, up Francisco Orlando, citywide the of for in make that the
positive historic years our third continues average. production above tracking significantly X-year the and the our its during all numbers future group quarter. above Orlando the current note, for More third specifically, help quarter as overall it average nights XXX,XXX a marginally Renaissance On of was for room to is
beautiful new bookings. space generating been received meeting the very are have and at hotel and Our extra well ballroom additional
Looking forward we the early stage process. XXXX, our to remain in of budgeting
provide in the guidance will group that not until our we is pace up XXXX range. While mid-single-digit call, we our current can next earnings say
markets, the was well year's within are produced XXXX. over with we years, last for in which calendars Given key this of production, positioned our range booking large we citywide the what combined several have stronger
in D.C., and San Several all of Orleans Los stronger our Angeles, larger Diego, have Boston and compared as markets, weaker Orlando. convention Chicago, XXXX. including anticipate citywide we New Washington, Meanwhile, calendars to calendars
to our a next Orlando are strong and with to citywides year, be weaker in citywide Orleans the these cities are New while both these soft JW our offset expected in-house However, calendars Renaissance group. bit likely
the in growth few the Wailea year, albeit white-hot next on market we our We'll Separately, past the XXXX our over years. provide outperform call to more February. details on have next U.S. seen we expectations expect not
our bit above equates the the NOI to a leasehold million, Courtyard which happy sale the turn interest the estimated X.X% in $XX the value for of our I'm over LAX announce materially initiatives. let's forecasted allocation XXXX of analysts asset. talk to recent Bryan, capital the Before which cap rate on an about and price, is many full I invested year call to
sizable of sale portfolio into as is will our than shareholders. lowest expected real estate; and on the our applied one sale ground relevant exposure, already it most cap likely of recently almost our our reduces one to gain of was price which be produces just adds points to further of peers; most cap that lease, our assets smallest was rate quality rate share and a disposition XXX a this good ground inside our lease materially sense by consolidates Furthermore, at assets basis our chest. our distributed war business long-term While the lower makes a the
war to stock to be as time price struggle the both hotel ongoing given real well Real to our are continue of continue So for in plans own in our future. expectations occur programmatic Estate Long-Term that recent pricing but we to range between what from as Keep purchases disconnect and our our private uniform the not expected on are and shares. Well, believe opportunistically our estate, Relevant mind chest? our are pricing the best excess current liquidity public use we with that of for or to to likely the repurchase will be the time
I'll that, please call Bryan, With the turn over Bryan. go to ahead.
