and thank joining Good you us. Kelly. Thank for you, morning,
current from planned officer Company during Krissy discussed Before the Bryan Peery roles we've retire first I get the previously, to and quarter. their Gathright started, as with
of opportunity their in weeks. REIT of to are plans We to this to contributions Apple anticipate the announcement companies finalizing I significant close and coming to years. over responsibilities reallocation and their would take the like recognize both making transition for them an for the the
employee will Krissy the the and a an tremendous has work people been I Gathright years. the was one team. over that Company's grateful joined of our development it's knowledge first invaluable. our she and be part most understanding capacity. of I a Krissy resource us the Her to and am and last She our to of Board brightest integral is our her continue and past industry strategy business year know are of with XX talented to pleasure that been and of Directors in
as involved for the our our success the and with been to has his the ensure has Bryan he absolutely over His of our with business. the officer transition. capacity an been in in nearly of team Company Company, will and shareholders been the integrally has Bryan Company shaping and continue long dedication to will a current Upon years, missed. stepping from down positions, advisory be smooth incredible our
as joined began Public the Liz Manager Perkins. in Accounting am call an I and REIT career by XXXX. today's her Apple on joined in companies Liz Asset
spent with the you. the with many has road Strategy a on me amount meetings on worked closely in For six time years, past has of Corporate significant Liz and of
of members have together and to and managers grateful corporate am through the multiple Hospitality Apple worked who evolutions, leadership senior Liz our and economic cycles, and I committed incredibly talented the industry team transitions.
and in our and employees our our expectations markets. for storm that companies, disaster-related the produce our of of maximize work our team despite the both quarter high-quality comps, maximizing pressure and and passionate in tenured with line shareholders. are intelligent, challenging industry-leading have diligently our profitability full-year, hotels to results driving a in value results continued for Together fortunate portfolio to fourth We about of year-over-year experienced, XXXX new with continued management rooms-focused many are and to wage group and supply
revised During the ADR essentially full-year up increase quarter, RevPAR X.X% X.X%, in better the partially X.X% resulting offset X.X% XXXX fourth by than with RevPAR slightly X.X%. for down a decline of ADR occupancy the in comparable hotels midpoint and decreased was occupancy, of guidance. our flat
of the and FFO respectively. and million $XXX $X.XX quarter for modified million $XXX revenue per $X.XX our was and and share results the was full-year, million EBITDAre billion. Summarizing $XX and some $X.X was total Adjusted
of For representing metrics, the million, incentive the return due management year-over-year costs increase to full-year XXXX, the $XX which outperformance transition Company's and of shareholder components Company's G&A a are expense relative plan. primarily senior was
full-year. points topline basis modest adjusted Comparable XX% EBITDA hotels Though the year-over-year, our down profitability for muted in continued XX With and and points in for growth pressures, challenging operating hotel we a and was the among for cost quarter their to and experienced XXX assets our margins. slightly operating declines XX% of quarter the the our I these the for margins for industry diligent full-year, team commend in to efforts continue strongest be basis environment. maximize the margin
average interest a total five of debt combined X.X% and and the of of rate with current We weighted finished year weighted average outstanding years. maturities $X.X indebtedness billion approximately
$XXX work as credit the a young and no portfolio, in on and unsecured our dislocations may to occur on EBITDA, With to facilities years net are capitalize as the X.Xx market. capacity next we of significant maturities patient, debt position that in December we relatively to flexible XX Undrawn million. opportunistic just three over a was be approximately
share purchased $XX.XX at XXXX, per price repurchase price program for total average approximately million. approximately of XXX,XXX purchase an under During we shares our share $X.X a of
$XXX share million our available remained program. of As XX, purchase XXXX for December repurchase approximately under
our shareholders on in market. when as for intend value use we a to dislocations we public have see program result meaningful I highlighted create of As to past long-term this potential calls, the opportunistically
in sale hotels Suites of XXXX, XX XXXX, XXX-room of for of into our total sold beginning for Also by approximately December Since of a a combined have SpringHill the we million. entered $XXX in contract we the Boise, sales in quarter anticipates upon gross first This $XX gain XXXX, of is sale sale. completed the million. recognizing expected of Idaho a the the a Company completion Marriott price to and for be of
the will We the create part believe in strong will dispositions focused used that from currently to year. value portfolio. to of fund with targeted that or share construction current for in profile our our we fund These the to acquisition high-quality assets opportunistically rooms have continue selective in be acquisitions of growth used and under larger combined but interest debt repurchases portfolio existing projects, assets markets proceeds enhance also be coming which may contract, of opportunities
combined a acquired approximately hotels total We of in three XXXX $XX million. for
acquisitions million with approximately current Cape pipeline Wisconsin; Our projects Canaveral, Denver, in Colorado. Arizona; is Florida; $XXX Tempe, and Madison,
hotels approximately million operational ensure in These expenditures. our portfolio. to competitiveness our add invested $XX and we capital stability help to investments in XXXX, During their the long-term of
million We the year, our between XXXX Marriott XX million XX at and in in between renovations Virginia, last our major in renovation quarter $XX plan invest with full-service began Texas. in to where Richmond, fourth including full-service of $XX and and Marriott Houston, hotels,
brands work high-impact managers the project disruption. experienced to while asset and deliver minimizing third-party Our results with level closely managers, cost-effective, operators in-house property our
environmental into and incorporating We impact. our asset investment our are strategies, opportunities minimizing committed to enhancing management and sustainability
water variety The we a in performance. to efficiency waste our when consumption environmental in by upon also hotels asset proven and of own improving upgrades and replacements energy that enhance practices portfolio-wide design, we that seek hotels include and Projects sustainability management. by and build renovating improved efficient and this are while initiatives investing value equipment reduce
of At underway or upscale represents within fourth quarter, more a a the construction end projects of third the reported the quarter. basis XX% at from the have of or what our five-mile radius, of one mid-scale, upper decrease new XXX approximately we upscale points upper hotels which end
slight to number strong in expectations election ongoing confidence, coming of a economic slowing surrounding other pleased and year we with combined volatility act starts, the concerns our in growth, during new supply unemployment, health. markets of impact for positive a as counterbalance This indicators potential anticipate the of construction overall low While we consumer are GDP that an to be coronavirus with continued will a to and associated decrease year. for us a continue the challenge see
Taking we are factors pressures, level these as in economic cautious broad continued for into well near-term for cost consideration property as performance expectations an our expectation growth.
hotels Our hotels between and $XXX income million, million. operational and outlook Net between EBITDA and X%, negative hotel the margin EBITDAre X% following. adjusted $XXX for adjusted includes and between XX.X%, $XXX XXXX comparable RevPAR and $XXX million between XX.X% million comparable
for value cycles. our experience, hotel XXX economic ownership Apple consistency lodging Over history companies and we for the fine-tuned our that our have and real our strategy and in investors produces REIT volatility, the hotels, and mitigates estate XX-year transaction throughout operations and through provides have ownership owned over industry,
been is with and mission provide of in investors investments Our always and over underlying attractive dividends has time. their the appreciation value our to
the million or $XXX in dividends. $X.XX total approximately year, Over past paid per of we a share
confident this of a macroeconomic shareholder over and we X.X% our are well Based the long-term. value our to price yield. portfolio, we and the of balance continue for be the near-term represents in portfolio remain to positioned uncertainty that flexibility on February despite closing environment, XX $XX.XX, Operations of sheet, strength our with healthy our maximize the
in concentration of rooms owners performance Marriott one sector upscale lodging and our of Hilton As branded data. industry, focused unparalleled largest team with the of the hotels, access to has the
practices brands purchasing visibility lead implement with from and strong effective operating the and margins. which managers our information across most reduce operating different the utilize markets, our portfolio, costs efficient benefit and to along We to scale, across and
positioned maximize we in each our to effectively works team ensure third-party with are well of collaboratively markets. to asset performance and to the compete our managers that Our
to additional the performance overall. and now call portfolio pleasure turn industry will over who my to across Liz, detail It's provide our the regarding
