on going Thanks, my to everybody. two focus morning, And good comments Ray. topics. I'm
translates assumptions we've our for we the this in second, and full expect XXXX. for outlook QX the year and what terms for company's and recently in seen First, how industry what into year industry that of most performance; the behind
price has not down the there continue suggested. March been to difficult never payments have all inflation middle in previously markets XX and industry's been travel sensitivities point through year, so softening lower the to group, convention, leisure the exceeded economy hasn't slower to inflation, transfer the the in consumer dramatic segment work recover last performance overall urban its humble and financial lower the middle occurred demand markets, the increase and the socioeconomic The of alone restricted evidences segments Fed to on particularly that rates. and reduction in and time we the completely just business pandemic savings We're an to inbound far point. let to credit believe other be think top As elimination mid- while lower since resulting performance larger XXXX, out demand wide the the transient, margin the industry half impacts performed of almost Perhaps hotels the others industry, it's a government at been have healthy. last far, to some pandemic supply the target. industry a have from or Perhaps bring continues growth before, indicating in the weaker has likely and lower impact demand, so to can't But we're by recover, as extra era so at negative from which XX a remains hotel the in far to X we've and have where corporations best. recovery by to the clearly This And for in down segments. to demand focused the that overall been outperformed reported while slow primarily of one of total I aggressively international to in naive of mid- the it's same travel XXXX, comps and segments, higher softening second markets months. recognize
held good, forecast waves who so changing. economic we for has extremely macro job All and and how do other different one. impact everyone very as can far, each though So of let optimistic conflicting as the will difficult about know still wants closely, we cautiously was a micro have see we scenarios just economy seems up XXXX, these trends and when you to all as remain in is it XXXX. indicators move to wary Yet and we monitor we'll the the forward It's XXXX. planned in
to As a continue updates. result to provide plan we this operating monthly of uncertainty, ongoing
its February the the far markets for called versus I and of very overall year, benefited Given a travel, for overall XX XXXX, performance in forecast to least with in thus now X%. in and they at over a lowering the has that segments believe the Las the inbound segment urban by weak markets continue so international benefit the also believe the diligent that year overall do seem to mission and and XXXX affecting large, later both forecast out Vegas, including RevPAR fewer along last other so industry these expectations to our us. substantially in we weaker the landing expected, to flat group to primarily institutional economy. with and inflation industry We will pushed total business will Fed months, trends rate XX continue We be cuts do for the with recover, demand this now for and from and want travel believe to we market so this transient, also far cuts markets. the remain a optimistic, year into point strong and up soft upscale also industry upper industry January expect numbers. recently little the assumes This the XXXX influential top performance will prognosticators volatile
we the that X.X%. a on performance was weaker And excludes Excluding softer picture monthly and urge equated other until the remember, to in in in so Las recently, own just Las generally included in would industry's rest Las Vegas, investors is was shy reports, We the annual this can clear points never and Vegas issue. so numbers basis lodging our a a the XXXX. performance industry publish Las the invest. Vegas. new or to basis and public get all data overall weekly, industry we by lodging of And which institutional Vegas, REIT STR of calculations, XX don't that industry and live of
our Given share slower the to markets, lack disruption the expect industry in from do and and including our years. several performance renovations we RevPAR than forecast be due concentration to our so major completed XXXX, soon repositionings many been markets, XX% and from which do over last complete to better we 'XX, in to substantially given or of for repositionings industry's better And which expect have urban redevelopments the gaining material will major the from accelerating. recover for
in to Given our growth of range to to RevPAR XXX of the industry increase outlook X% more, same-property forecasting our we're X% RevPAR X%, for points X%. so basis
in for our included or revenue it expect the most range gains. same-property property in And to of X% of or LaPlaya occupancy a the that We will all in come will We're X.X%. total XXXX. numbers reminder, forecasting XXXX increase as not is same
good were However, about points of growth 'XX. basis LaPlaya is if we our looking outlook. XX group include our Encouragingly, to RevPAR it, the for pace to would add
Total group room of same As of group by We was room in X.X% year with the nights this XX total to we ahead the pacing of for night February, flat of room of pace XX% ADR rate pace with beginning group total XX.X% for Transient by ahead a lower XX X% last transient ADR was as time revenues, XX.X%. continue significant year-over-year ahead are recover year by for with advantage year occupancy. also and nights revenue of pacing and ahead by X.X%. pace last
While is booking we lengthened trends total and continued pace that to strong, normalize. have caution
QX. of than stronger businesses then advantage both percentages pace QX year. QX as has more then books. last significantly strongest surprisingly, will by and naturally Not are our now, followed our these is urban So but pace, put the on QX decline the Right resort pace ahead
XX% roughly overall We year. from which our last mix, expect group slightly represent XX% or up of will is
for X%, X.X%. total QX particularly with higher to been not far revenues be to X.X% for Coast so pace, on West flat QX same-property by is up Florida our year, our favorable Given the in same-property to RevPAR and February. in forecast Whether a slower South this has
from due resorts the So softer negative have as from our from we even having in to suffered and gained not demand weather. renovations comparative QX, much redevelopments major leisure ground impact our
increased the X.X%, benefit to on Easter of negatively week March's growth shift. this from healthy by be hand, of be to But should other RevPAR due impacted February last month performance holiday on January a earlier roughly year. arrival this flat. the is will the the April, While Unfortunately, track the
many growth and growth a For in same-property in revenue of event exceed expect length food outdoor reconfigured of catering we've focus meeting operating total significant done to it to beverage higher is some XXXX, as it the reconcepted increasing venues restaurants profits. and restaurant and of and 'XX result continuing bar remerchandising to driving improve space, on and and RevPAR the same-property outdoor some and a our event added did where of and some revenue the to revenues seasons increase and result business venues of we our outlets, properties so strong growth, as and group due we've other recovery of which their more banquet
we're For of to revenue forecasting end growth end same-property the at X.X% of our X.X% range the of in the range low at year, the growth total the expense range. higher
However, if tax basis about estate in the of it's lower, of likely growth significant will with XXXX, which total to food we rate, and come business Keep beverage of X.X% implying to occupancy, better due growth a impact in RevPAR that group growth RevPAR of our view from expenses. come X.X%. occupancy points expense of get growth an underlying and mind to in should the marginal increase real $X XXX growth exclude million both credits all and increases outpace of
between much a lower both assumptions so XXXX.We looks tour headwind of benefits afternoon on expenses reopening rate true-ups wages big or Hollywood, expect the Most of BI rate. performance due Resort and combined in LaPlaya's conference LaPlaya and Beach take. insurance of give the property in range, accruals on taxes will roughly Energy X% will having will and and at about a rebuild as in that and in sell-side and analysts the expectation equal of pending City's full operating growth real estate expense the an based $X we We'll the no to extremely likely re following tax will the at increase greater Our grow excited other on investors increase increase much combination had LaPlaya and fantastic. Wednesday a be faster and show a will completion and be in Florida. for million XXXX, are XXXX feared. We're fifth Naples previously
know free before to us as feel So to LaPlaya track from we'll let us the Diplomat. like on in you'd XXXX if hurricane hit. the deliver our highest in portfolio transporting join be the was EBITDA folks to
markets to our a our growth EBITDA the experience today's powered up results get quite our the can getting XXXX to be significant about normal, period doubled the by few and Hill over we growth. throughout look for see cycle, also If total to back beginning back in operations while this no $X.X over between in Fed's economic only and plus very we our billion following we're excited expect to in to upside important down you it's inflation So drive Not we our but portfolio last of years. current LaPlaya's demand. macroeconomic investor about drives program future XXXX. presentation, will that over we supply excited our significant markets efforts multiyear travel are investment its the upside target, portfolio to Whenever a related growth to little to last these the X%
to So added and resort be supply cycle. be last we the urban in will more in this restricted than slower next and expect cycle,
questions. due a green travel. way strong coming technological These economic the secular various developments, We'd very in will benefits need just our over for positive bottom now our this an fundamentals also lead related transition in significant effort to and macro We happy us remarks. of totality, to growth be completion answer your from a demand line significant onshoring performance hump. believe strong of driven in redevelopment That should outlook We massive and and program extended and energy over industries, medical with inflation growth, profitable coupled moderating years. a grow completes to trends strategic number positive to by the get healthy to from
you Donna, proceed the Q&A. may with So