Thanks, Ray.
we're in to seems a path, None us play is that quite a we I'd through ever of likely of year think continues with out thought a I been So to this now predictable business currently lot focus though we on more perhaps it a seeing have what path our pandemic. be how and it uncertainty. has
traveling. make very against and both We're health have So certainly in the behave big and encouraged This world, the include the the how of by no hospitalizations to as is the recede, currently we pace here deaths, of particular, virus, and individuals then the year's progress demand around the governments, assuming most and we recovery daily traveler, businesses, the reduction by level variables setbacks. and led being issues continues be who the our cases, and leisure country's in general vaccinations.
recovery a government the segments as force on, and driving remain feel likely will is segment and traveling. all safe people the goes year and travel third behind restrictions as more that ease, comfortable quarters more the is While increase second for leisure as to and the
year we've pick future at did for point. overall March, quarter, of Not its speed leisure but only consistently seen the increased including already low recovery months. it February In entire was pick first the and up occupancy up beginning fact, since the the through in when bookings
consistently demand markets. all of throughout us, For our increased
Average January the month. another first and And the March than January, from XX from another month. March, averaged example, based we're they'll XX to Room first March more. to hotel forecasting from in even March again, room on be of is April, increased XX% XX% from on XX% improved XX% per February up be have revenues the XX% the XX% revenues of up February. another For total another from and April forecasted increased based daily days higher days revenue to to February day in February, about
increased achieving at that numbers basis up rate $X.X very expensive choosing $XX.XX with periods to stronger about nominal has increasingly demand in we've our was growth average increased to March at the XXXX except seen levels. have confident revenues, year. as for week-over-week total they've encouraged money pick the are Weekday and so of still upgraded the and The strong low, in rates. consistently of are them We're up our XXXX's X of growth When per weekdays in customer rooms as quarter While a total booking spend significant. holidays, this number rate about occupancy even we're clearly doing week out trips helping vacations bookings our forward more first transient the is X this and just feels every the resorts averaging ADRs also been it been further versus room improvement In increase for average on comes over transient leisure than day were well weekends. increases on weekend quarter, types, than over transient at XX.X% customer view have resorts our million pandemic. far leisure and a including on plenty following Overall, seeing growth, first rates, and leisure rate XX.X% during bookings and to whopping resorts, XX.X%. combined greater significant suites,
the we as rate said transient, weekends first QX. continue our particularly weekday on business on entire high-rated from to limited a resort decline While decline the at for and group quarter. decline the X.X% less urban markets, portfolio in growth our very traditional of corporate rate our management rate markets improves. XXXX's And on our great from comes increases weekdays. conventions, surprisingly, This traveling cannot the our rate only urban ADR because revenue Not has in hotels, all during been was Yet the mitigated of demand portfolio be the business XX.X%. given strength resort the in efforts a segments huge in focus same citywide than urban portfolio, of amount dramatically experienced recovering so that urban our the our it
the and business last we September recovery in beginnings October, During of modest saw travel. a
However, we've the travel travel We're with business again. and the begun restrictions to arrival of half the slowed of significantly rise in in business increased the encouraged that government winter, return spread, QX. transient first some see virus'
incentive and as include some again examples some fans. and venues L.A.; Some with Boston; groups including pharmaceutical consultants, the travelers entertainment and primarily meetings. and those actualize, planning government movie spectators in IT-related corporate throughout groups as sports production in TV, markets, in including also as health strategic project reopen music well care, and had portfolio various We've event Florida, and
now Labor our small- medium-sized from business a businesses of until public especially Day see related Day to really a groups to weddings. Growth major properties we after likely but social expect will travel to hosted September. private year, don't business in between the come improvement in travel at Labor in the many over increase course gradual expect We've and also early and We companies.
at Boston, for the In This throughout of room we portfolio, second the crew of airline number XX.X% of the quarter, fact, well representing up of well. the half room continue see that shaping record total encouraged groups the There student group of revenues. number at into also and business first as the the to a a total total very is X% Corporate university In business our include for rebook revenues. in or X% include to up, does second not half. little the second year We're bookings wedding accounted does revenues of and group significant intend how are point. in represented W for into weddings this the but over pick half room quarter. over may about a XXXX XXXX XXXX of group have
XXXX, holding XXXX Equally holding planners significantly or and for will the their behind more meetings. work down has While the restrictions being and continues not as able on to definitely pace nights. as up confident surprisingly, XXXX picked room clarity There's meeting optimism in it's return about become be in to Activity and book success providing to be pace XX% is or that's is loosened their rate after do meetings that events dropped against well. that virus with altogether, on comfort meet groups more hold they encouraging more business.
levels, versus meet XXXX and much Our ahead move for our and person. market X.X% trying rate they not time improvement yet pre-pandemic which and meaningfully overall at when leads, XXXX, activity of certainly at months, number half related same group XXXX about In the continuous Nevertheless, normal forecast of bookings look bookings, especially currently group we're When X will the throughout encouraged of our more levels by second we vary to the in the last forward for XXXX, we're site by from to XXXX, definitely the year. is in discussions market. businesses and group in tours, was portfolio. the to last activity cautious are
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before idea, Citywide this however, the forward. year, it glimpses June, particularly hope, be we're will scary concerned including held are in in more that Day. Vegas Vegas. be a seems There should like go of Concrete cautious to about However, Labor meeting we Nevertheless, businesses Las concrete in pretty
reopen if We and are California late sure July conference. have other go I'm forward there as examples. in allow Convention Alice And and many the scheduled such announced a should L.A. L.A., which large for
to the and better EBITDA generate second quarter. we get be should quarter. achieve corporate able than the adjusted EBITDA in not continued hopeful sometime quarter quarter of in to willingness positive we that believed of later able should XX% about better we first much We point positive March, And attend operating and indicated in if needed first only a to that breakeven million hotel view Previously, item estimates. lower positive the the I important we an be we to our half positive be the obviously, XX% quarter. we progress order we cash meetings, virus, believe generate assume had In can progress of to but quarter. of further FFO for should than business hotel we're the just out. we'll adjusted $X.X travelers to portfolio. the second the conferences get in third against EBITDA get expectations eliminate achieved to the occupancy with conventions So at a One an year, the our we to perspective, of want burn for prior to From second the level XX.X%, occupancy
level $XXX a that, throughout than was due profitability This an So primarily as I pretty result average our less very think pretty models positive well to overall portfolio-wide our healthy remarkable, think. XX%, as rate portfolio. of new about occupancy at operating
in season season. come down high benefited South rate we in average rates will of prime out that from this as While March move Florida,
which redevelopments that resorts our season the and helped they prime from we by L'Auberge and Resort as LaPlaya, the all summer. this resorts, That's QX in place and West Point. took our Our Resort, renovation increases average Chaminade, at will rate undergo recently move QX of a Marker Coast into Resort, Mission except be at rates Harborfront major Southernmost Paradise on will Mar, benefit in Skamania, other Del Bay as
our as leisure most will middle and business through fall. into urban addition, move in In the accelerate to we the markets of of moving the stronger the for hopefully, into and just-in-time travel into summer, be months calendar
all is on be deal the So focused will recovery I'm operating there's model from believe rebooked being a Group strong it being we're we improved XXXX XXXX, as year from our also should revenues that enhanced overall should to strong great sorry, think for When a continue overall. much demand, very as meetings very strategically optimistic as XXXX. year we're about and recover. benefit -- and of XXXX pent-up results the from, we and allow
We relatively to of of also this with on with based beyond think behavior international to lot we're demand of and remains limited. it next the pent-up the normal for by leisure probably that still position believe and take a year. caveat This Again, end outstanding and this get getaways will in the be expect our significant year, resorts. a XXXX and is in recovery this robust, hotels in great more advantage continue normal means We we don't to relatively discounting XXXX. outbound we rate obvious vacations of and condition
we're Z West moving in resort Hotel with a Unofficial Francisco forward in fall; Key month. Grafton Del X the reported, Collection the into into in hotel summer; we've also L'Auberge in an As and West the redevelopment we're next completing fall; Vitale this Hollywood Mar of Southernmost in San
trigger we'll the pull the virus. continuing projects on to the we're the and against complete deferred when progress these to we the permitting. remaining due And on more it and we projects few the pandemic, to remaining -- As have redevelopment relates recovery clarity plans
redevelopment discussions Diego's in we and Bay late a At get expect still don't we're point, working Resort, we the Specifically, year, with able governmental San it this start way X million next transformation our relates authorities. through to until least into approvals to necessary Island as Point the this months. Mission be at Paradise construction to the Margaritaville of $XX in assuming
takes all the upside for years the past the and hold number the transformation, significant over completed recovery of the redevelopments few these will upcoming provide years, as All forward. next rolls our of and and including projects improvements in and portfolio large few
for the projects these Importantly, already invested. been of vast dollars have majority the
our opportunities like increasingly to from believe scale on to with this look questions. support the more or portfolio our for significant to expect strength in the benefits number crisis, experience over actively becoming in acquire of arise Q&A. we'd that operator last These the sold economies and us. silver to next to lenders. significant the with And that upside our the with transformations that looking buyers, of the properties the redevelopments the As the got industry. brand the team, distress We're properties lining high-profile and ability Curator, this portfolio, Donna, owners of in from years. include confident our our we to we're be at exceedingly you due reputation over-levered And patience, back operate perform can well confidence are the that, from number from our efficiently appreciate now a competitive in recovery. currently industry as In few and we small next of have a vast years majority be dollars in reinvest large potential as we've properties there to We independent vast path we XX to and hotels, cash-trapped will move your and this we've as the cost positive recovery we than your opportunities your generated the additional opportunities believe well and proceed unique and on lifestyle relationships And knowledge may months. is to the clear. that of hotels and will many additional few regard, over we go the advantages over
