and morning. Justin, you, good Thank
and recent unwavering beyond hotels Justin's following service teams I hospitality wildfires. echo their and their I and California our Southern fellow begin, the Before would care to have and for for in gone guests, team communities. acknowledging They surrounding at their to the above members like comments active our during
out to hearts impacted. go everyone Our
business strong Comparable $XXX, as X% demand occupancy fourth compared pleased the up are of year, comparable quarter revenue continued period ADR was our and to approximately quarter of XX%, X.X% approximately X% XXXX. quarter recovery X%. as portfolio total was to We and $X.X and hotels the up to report up million the approximately year billion $XXX, in the demand, up of same additional for respectively. was $XXX for strength and quarter fourth XXXX, for hotels. was in With fourth hotels compared full X%. RevPAR leisure And another
XXXX, up was occupancy ADR up approximately For was as X%. Comparable to more hotels comparable hotels $XXX, approximately And X%. compared XXXX. XX%, $XXX, RevPAR up hotels X% comparable than the year full was
during As our quarter strongest month with anticipated, X%. RevPAR year-over-year the October was hotels growth of comparable
Boeing in temporarily and by quarter, were inbound our consulting Tukwila the negatively and impacted properties Renton reduced with Seattle During business associated disruption. training
performance year-over-year part assets large and during weaker recent less robust experienced the Nashville, calendars. Our Denver in and in event to Atlanta due supply group quarter, growth also
growth which and meaningful During hotels, the quarter, at we Downtown Salt Lake acquired event our year-over-year City benefited strong calendars. from recently saw convention
Embassy business submarket saw which hotels, Bend City Helene-related football top-performing our benefited which saw in a significant to and and group the games, which year-over-year also hotels market. Notre Suites demand and Dame Tampa in hotels, X business. in of from business our Lake Energy Hurricane Orlando, growth South and strengthening increase from saw in meaningful Salt corporate Other hotels Houston demand due West negotiated South our Our increased Jordan Milton included Corridor
month results compared of Preliminary in comparable January XXXX ADR. the to by slight show as for driven January XXXX RevPAR improvement a growth hotels in
have Many at in quarter. February. continue business we from continued offset offset our and L.A. uncharacteristic During extreme L.A. D.C. weather growth through related see in to performance Sunbelt fire-related first have largely the of least the and Justin recovery our month, many hotels some mentioned, to occupancy. our elsewhere as portfolio, of disruptions we ADR in And modest in declines our to believe strong business hotels travel markets, will portfolio winter related
day-of-week day from the shift Looking shift and quarter, at fewer will April. into benefit March compensate holiday the of remainder February Easter help for should in the one
benefited New which in from Mardi Gras from of Orleans, February, Bowl to anticipated in is March the this Super year. benefit
contributed just fairly over growth and compared with X.X% up December up October occupancy leisure XX% December occupancy travel trends, October and business and the October improvements X%, and consistent November X% respectively. was improvement to and XXXX. occupancy and Weekday same November almost over X%. quarter X.X% in every in just quarter month up November the day-over-day to for up Weekday in quarter Weekend X.X%, rate at roughly was varied Looking with approximately the during essentially up and fourth flat up equally year-over-year. as with periods December
up higher. but to ADR Weekend demand December. to as strengthen, in X% ADR us weekends, Weekday X% continues down continues in rates meaningful and in move to midweek upside positioning November, was October almost X% lag representing almost
of XX%. property XXXX. channel quarter Same-store remained and of the brand.com our and at XX% which basis, represented growth our in X%. at On bookings strong relatively represented XX%, direct with segmentation our representing during quarter a and GDS government consistent see discounts stable X%, were we continue other was and also the and XX%, occupancy mix. XX% revenues mix. Bar mix. remained of quarter-over-quarter room mix Other beverage XX% segment to of comparable Group Fourth bookings the fourth night was XX%, Food was bookings XX% XX% at largely up OTA negotiated same-store improved quarter. with respectively, revenue,
total year same hotels year. versus were last of Comparable Turning same and and Contract X% our the were on wages as room during hotels as to X% fourth marketing the and the occupied Comparable both same-store administrative quarter for and for only for utilities the fourth approximately and total basis hotel basis by X% quarter or the expenses of labor the XXX was XX% the expenses. quarter CPOR expenses. $XX for expenses the periods a approximately XXXX. hotel per quarter, in year X% down to hotels for or compared full X% to increased Total payroll period to up was XXXX. decreased X.X% up the points sales quarter
quarter expenses property more year. well comparison challenging While due deductible insurance real with this largely variable costs under controlled, during up properties several to the particularly quarter and the our year-over-year challenging losses expenses in estate a fourth with at were fixed taxes of XX% up were
estate expenses insurance benefits, several and CPOR to year, in we or XXXX. just other, taxes, X% creating X.X% the real tax and For variable forward challenging onetime from on only for was a insurance the up comparable comparison a benefited X% year-over-year increased basis. which as property year, decreases premiums look hotels over Property
We to compared full up the hotels XXXX. fourth year, and as $XXX million the of the quarter EBITDA $XXX up the approximately to achieved fourth approximately hotel comparable adjusted and million slightly for full XXXX quarter X% year for
points fourth with and to respectively, XX compared period pleased EBITDA for our consistently of our adjusted XX% same the has of quarter full expectations. only basis XX.X% and especially margin the year, basis are down points, hotels the We hotel comparable for XX which XXXX, as exceeded
for $XX $XX EBITDAre as compared period respectively. X% approximately to Adjusted both the up $XXX the period XXXX. and year compared the was XXXX, to $XXX was the up for MFFO million the quarter of million, million approximately for full X% full same of as quarter same approximately and million year, for both the approximately was
common special per totaling million dividend share. During $XX the quarter, we XXXX our paid bringing annual million distributions approximately January the paid payout of common per or in including $X.XX $XXX share, to $X.XX or
our at Looking sheet. balance
XX, total debt quarter under December Approximately portfolio debt EBITDA XXXX, was of approximately in facility maturities years. had hedged approximately We billion of hotels XX-month X approximately availability average of our net total interest weighted of and $XXX XXX. $X.X As had our outstanding was approximately hand our $XX fixed the million. rate revolving with number approximately X.X%. on million, a of our our end, average or cash X.Xx unencumbered credit XX% weighted trailing outstanding we At of debt of were cash, of
have X mature that approximately the loans million will loans this year term that totaling mortgage $XX $XXX and quarter. third We mature will in million totaling
We have with well believe and to begun lenders we these address positioned our conversations are maturities.
Turning release. to yesterday's our press XXXX for provided outlook in
X% be between full million adjusted million XX.X% EBITDAre to the $XXX adjusted between between and million, $XXX margin hotels net to $XXX million. EBITDA comparable year, and be to RevPAR change income and hotels For be comparable and we and $XXX expect be between to X%, XX.X%
increases will driven approximately we diligently certain the teams to hotels and general real are brand those increase occur cost for guidance higher experienced X.X% management of of hotel rates pressures, taxes at to months. including are last have expenses incremental year XX million than insurance by $X estate fixed that midpoint. growth for have liability approximately conferences, and and by assumed asset expenses mitigate purposes our These working XX total to every included which related expenses While
end In the a million assumes related loss $X to low XX. EBITDAre adjusted of guidance addition, Hotel our
transient, our is changes pullback account driven account continued the offset of dispositions. growth and steady or the slight demand end in XXXX fire-related of in by business high range acquisitions in nor or The based take developments with in full take lodging into transient. hotel by and range hotels. extended demand does demand, a being improvement more leisure reflects modest continued business reflects it in in improvement relatively conditions our strength throughout end operating business our L.A. any any outlook in does market our business year The and leisure portion macroeconomic unanticipated unannounced a view This on into current low not environment
As confident continued operating bottom for positioned well are and operating we dynamics. fundamentals we environment line begin strong is stable relatively supply-demand XXXX, with we are The favorable performance.
enabled provide recent and optionality. drive capital has value for us us to sheet allocation meaningful balance our Our shareholders, incremental to activity continues with
us strategy uniquely has cycles, opportunistic be value through more resilient differentiated environments Our transactions positioned economic enhance proven are to conditions when through to equity challenging to value and in preserve enabling market conducive.
Our maximize ready shareholders. for returns portfolio existing and our team while strengthen to diligently to staying the to advantage of opportunities take market our further of performance works shifts
be prepared happy our for would concludes you morning. any us That to this questions have answer We remarks. now
