Thanks, for us I appreciate this Chris, and our everyone joining certainly morning call.
or continue lodging XX%. demonstrating the This rise $XX portfolio, had RevPAR of high by to quarter We business Before last of evenly lost is at split the we back department related performance down spend to from basis XX% just XXXX. of our talking year. intern XXXX drive some XX%. industry non-room real ADR leverage million like growth all I'd profit. select as and considering RevPAR fourth about look ratio with considerable debt we a reduced we other a revenue as and Highest net X.X% noteworthy service million the by REITs profits of our points to estate XXXX, between in we $XX few quality accomplishments to exceeded minutes growth growth occupancy XXX highlighting
XX we During second using We of repaid debt increasing maturing the Chatham's overall for by the fixed our liquidity that the successfully of received us peer XX/XXX, and $XX from out X% time, listed in region score and to $XXX of an group. million XX rate GRESB and score ranking overall debt. time, XXX in second Americas participated XX issued million companies in available of
Hilton out to approximate excess preferred an We sold year returned the including out Denver was hotel $XX Tech operating deferred for million, shareholders $XX the income. of common net million Garden and and flow ] cap for our on costs, XXXX dividends sold Inn closing of cash X the renovation [ which
as and expected quarter less to combine expenses room occupancy growth estimates touching increase So XX% beat our We were we in ADR. a with fourth was a the top other than down a on holding briefly occupied on while fourth X% RevPAR line cost per driven pleased RevPAR operating bottom We X% increase by increase flat departmental of basis. achieved performance. consensus better and increase than year-over-year The profit to quarter. were able in X.X% in
double almost industry-wide growth. RevPAR was growth RevPAR Our
when produced renovations. way for impact tech All of RevPAR at taking leading markets RevPAR our the grew hotels XX%, one in of our out growth X the top but the quarter company. the
RevPAR up X fourth was X%. tech-driven quarter the hotels, Excluding
of hotels XXXX entire For the RevPAR X of RevPAR $XXX the and XXXX portfolio levels up our for XXXX X% full over actually is tech-driven was levels. XX% excluding year,
share XXXX, companies corporate tech thousands coming in were the prices. big spend is XX same of expansion talking AI. all-time later, course, next off which our And of I the minutes biggest few of cutting months about jobs, high tech talking about those outlook want to in a clients everyone volatile our are industry hitting
and the constantly do, As is are we always in tech midst of big they evolving, that transformation.
office, Finally, directly to our is another performance important relates very corporate big back asking come in to trend tech into that certainly their hotel its Silicon employees Valley.
all know, and month. of As Valley all-time over trillion and can see companies we tech market combined, we in companies the high San of daily $XX public all an Francisco cap Silicon this reached
highest the tech to has Chatham demand. big hotel exposure
in discussed, these slower the hoped. we've markets recovery has we've As been than
investment, peaks. building. of tech demand a as internal driving that in the becoming does, new development. it demand surge However, AI peer upside With will rebound we is growth as is know Sunnyvale has AI no And from epicenter travel do. experience to we the
Inns. Applied previously Sunnyvale, center, of foot announced which EPIC plans process That's accounts our which has a innovation disclosed, commercialization in been R&D the facility, the build one equipment top Sunnyvale As $X and X to Residence and Materials, billion from blocks center. square our forever away XXX,XXX is only
with The for makers, universities innovation state-of-the-art facility partners. chip EPIC ecosystem be will collaborative Center and
of engineers, huge will those Digital, AMD, of relative that partners of that the once traveling I open. of having And is build we're collaborative to to because we're ours. effort all of some So to center. there customers et already travel Nvidia, course, that the hearing contractors, many cetera, include ought discussions think Western start that And architects, be plenty
in largest not going new Valley, developments the X large-scale XXX a there a Intuitive at in each, there are heart hotels, last, and buildings the was up. I Sunnyvale. expanding the rooms and AMD the just are Surgical right in occurring right So Sunnyvale, other reminder, I again, took of When Nvidia as it's look roughly
one clients, from another office building down again, square million our space, they're -- X largest us One the of feet footprint, corporate a half road their of mile. of expanding our about already
Occupancy was hotels. growth to tech-driven January but XX% seen continue Google's Valley Sunnyvale. to in the campus expansion Since call January. from as they Silicon into Bellevue as it, XX% October growing San Year-over-year they from our their summer, XXXX Jose downtown RevPAR well. at we're to February expand delayed, and of million in is Caribbean up versus benefiting to in demand we've primarily our important X top If production an hotels of reminder slightly back we $XX everybody, range comparable as across companies from hotels our to get just over add FFO. would XX $X.XX EBITDA, that up 'XX, again, XX%. X in accounts levels, XXXX was those
We markets see these improvement expect to in year. continued this
XXXX, are positioned a way, levels By for $XXX few same sheet. of years the million, avoided decade lowest no we sit assets pandemic the leverage the renovations sold prudently in as approximately at And $XX leverage the we've and balance age since Over past determined we in the early an in XX%. today, over here with years, a of we time, near-term with we have million ratio ROI. would at average our XX that
years Of approximately course, in with also investing new X old. average age hotels of an
all million maturing doing available X have as fully XX January, of of this without debt We're liquidity of hotel. hotels else our year. maturing In after debt repaying that cash approximately early sale the remaining as hotels anything with well capable are unencumbered we plus $XXX with the Denver currently
which declining floating to rate interest debt using year. our address rates issuance Although this debt debt, are from allow higher loan facility environment what our will to the maturing maturing any credit us term a and at be will portion a benefit of than be new should
to acquire flexibility much the unencumbered in so assets, we have accretively hotels. ability With
some intend while of in hotel Maine, hotels we've take through also a the our working We existing parking Portland, as does things approvals, site in large pretty the get finally one to Maine still, commence to top-performing the our development second we when We're surface on it expect city open. before, of of a But returns said Portland, of city done. lot.
lot deals to spread we was the was not last year, to at wide, looked good making market external With too many bid-ask but have deals. of still financing conducive commented a respect growth, as and the
we financing couple had deals started up last by costs to adjusted basis to that's, see and seems backdrop some deals pricing a which course, hopeful of It And CMBS as able of maturing down, to at deal be certainly Over more of least an months sense. that to is the well make rate seems trending the ago lot points compared lower volume. this in to XXXX. have to with year. picking be occur make as have to months, month, debt the execute Combined curve XXX really to with by X we of interest are
our is, the For providing reason again, a hotels. time short our overall they the that known performance become much we talking there booking the and business on have do customers hotels the guidance Silicon impact to year. which are pretty tech course, quarterly to first this of degree enter The Valley that We since time on of window won't the intern the those on companies big the returns the basis. our which that for interns and for And until know, top you're disproportionate market. will be the main pandemic, really
than its have than than In owners hotel for couple Chatham, any conclusion, costs X course, X% supply is foreseeable of solid us. the the less lending Silicon big for as next benefit in industry At well years X% in elevated tech overall Fundamentals more construction supplier ahead. bodes our other the lodging internal is of new muted and equation of company U.S. With growth the our only hotels Bellevue. future. I'm the supply-demand remain most and should Valley and lodging in we our should submarkets are upside in and restricted, confident markets. That of the state in within years. And
turn over that, it With to to like I'd Dennis.
