us throughout. for our morning some here everyone call. this news Thanks, joining Chris, appreciate I and got good certainly We've
been some our quarterly corporate get into like we've provide update Before I'd undertaking. key I to an initiatives that results, on
importantly, our lowest among XX in average XX next proceeds months. close are When hotels those contracts hotels million. of portfolio.Â
They into are entered X and in need closed, on of $XXX hopeful fourth hotels The in $XX transactions separate are for X we've old, the renovations of the forecasted this XXXX First, approximately RevPAR slated within have closing quarter. X and we'll generate sell that years RevPAR to
enable in down portfolio continue in pay and hotels additional proceeds look growth grow our presence to opportunities will our FFO. to to accretively and new markets quality We debt, to at initially or markets EBITDA investments sell will expand hotels make add but these use and to us initiative to continue enhance assets ultimately recycling profile. we reinvest that existing in will This
Secondly, is our liquidity strong.
levels maturing We quarter another mortgage are lowest and million a the at year. a $XX off over the mere over We leverage in decade. the paid debt have maturing next of in
exposure debt, able expected with to we've will Additionally, rate be to grow and FFO. floating rates added decline, we to
on approximately results, third-quarter minutes to guidance spend pleased based increases our In to the EBITDA for range. in million and more SOFR. near decline quite like from top hear of a you'll borrowings Dennis. current fact, $X.X share We're I'd detail or on the and our every few FFO basis outstanding, FFO $X.XX report XXX per points solid our
as at the end of growth our X.X%. only exceed to to for FFO because margin the expectations. you are most basis range to some up if the the pop look at end were strong.Â
I strong as upper step will only see handily year-over-year well XX experienced We And X%, pretty back industry the think employment been operating growth what wage of and our what you renovations, take Importantly, XX% points out GOP our pressures to has X GOP you impact RevPAR industry the last are We beat of decline here our lower of wages guidance to we've were is same-store expenses really few limit our moderating environment. able you said from quarters, specifically our absolute for continues growth and peer EBITDA deliver margins of RevPAR when see the performance.Â
Our complete of able post-COVID cycle X.X% you were levels. believe us, change the those industry forward I and margins up and last below and back, with over years,
of consecutive XXXX on since second quarter exceed levels, RevPAR levels. the the full-year first And levels RevPAR based exceeded XXXX $XXX quarter beating guidance, XXXX XXXX for marking our Third pandemic. the should time current
As we Valley XXXX lag now, most the have are sluggish recovery X Silicon moving until Bellevue us tech-driven in ahead. understand, up but to in hotels our levels and caused
to announced of about our RevPAR to the some almost the AI, really in growth Silicon talk seeing computer what's a rose announcing XX% we've the If you strong with things last X% most of good but a week pull CHIPS Last we're quarter to XX% quarters, Sunnyvale we've about II dynamics than less and CHIPS for third-quarter America facility. The markets. site site site design Materials on top demand tech Plans additional XXXX, Bellevue, mile in as has new Applied folks compared X% facility's up in construction, efforts rose Silicon beneficial about architects, mostly was by one the occupancy the the certainly for previously of will to initiatives, color are selected to been in flagship a not over tech-driven the related ADR spoken announced, the just Materials another attributable acquired X% and our announced a quite from reoffice will to facility one facility rooms quarter, that almost XX%. shortly, our We're companies X few happening the initiative. billion, consultants, up encouraged been half for by $X And we're doing lot bit Materials the office X $XXX million. collaboration and Sunnyvale, they're was expected R&D return a out whopping Residence big is for.Â
To involved it a happening, of Applied waiting ADR as and foot and business XXX $XXX know chip of our the of to up be that Inn market to been give course, in largest break individual you for I the for for be or that otherwise. Valley.Â
Let's just hotels, and XXX,XXX month, in facilities hotel ground have occupancy forever is R&D whether Valley America and that X with there, Sunnyvale In our and hotels which RevPAR square ago accounts.Â
Applied achieved with $XXX tech-driven in the of already X% X%, October. market
sits from mile facility this a our reminder, a As about X hotels.
residence be market. View, right development software center located do and And Motors point to Silicon our General innovation. for going in the Inn Valley. the Mountain be of a Within it's View. focal hotel And a last technical have quarter, beneficial to to in and It's Mountain we certainly in opened overall course, a right
of construction previously in forward. we office another and one our corporate Surgical, has obviously X we is footprint, Intuitive square largest its feet are Sunnyvale, in As also of expanding going see mentioned, pleased another what resumed, R&D.Â
Industrial clients million building with
growth quarter. of steady business the certainly this Looking country, for across with again RevPAR our travel the X X largest proven and was delivering growth continues the across in quarter markets remainder out the that us its of portfolio,
and Our up Weekday up all XX% the was over but on business and XX% Wednesday, was the on $XXX and quarter key X% ADR Thursday weekday down for travel was last year. days to weekend on occupancy X%. Thursday, Tuesday ADR in Monday, XX%
certainly look peers, here hopeful most and to up the I we available X wages recovery to tech and finish outperform mean and the experienced be internal of encouraged the under forward seem fact And enables expense we're REITs by to have we've more normal still drive costs remain hotels.Â
Additionally, RevPAR growth reverting Just increases lessened. as control. lodging X said, over pressures, we I've the margins in growth most us given last that, to in industry as those years, to that back continues other conclusion, we higher. and by that that upside benefit our the historical Labor have still
to continue hotels condition, they really sheet earnings that, declining NAV. turn I'd benefit we've the FFO, recycle With to over and like balance we're flexibility acquire the positioned be to and on in are where our rates, it excellent got side, can and and capacity from to we to accretive to financial capital, meaningfully Finally, interest Dennis.
