Chris, our appreciate here certainly and call Thanks, everyone us today. joining right. All I for
year. XXXX, fourth in quarter, last Before few talking about the to our I'd outlook spend highlighting noteworthy specifically back accomplishments the look at for some like minutes a just as we
RevPAR exceeding by X%, industry of We growth performance had RevPAR XX%.
year the growth profits division departmental able generating continue we year. outside X% drive room profits last of to after aggressive be this We other to and XX% higher were
the with fourth in points. And margin of margin year-over-year minimizing XXX we basis basis GOP the as closed XX We points expanded, XX%, generated margins to the of RevPAR quarter. year growth out expansion decline
XXXX, after million to in RevPAR $XX, in in $XXX Sold sell of improvements. and the age by net net million a with rate million debt of XX below you maturing and debt net hotels include our pro a capital X% of approximately proceeds we capitalization reduced way XXXX debt, our of million of for reducing at repaid forma $XX X when or And foregone XXXX. $XX averaging $XXX average, years by debt contract under
our asset multiyear equity, particularly importantly, XX% down and overall the leverage reduced We through and to almost period issuance say of XX% ago, an finally time. of sheet accomplishment, XXXX. debt balance a repositioning in this that's quite sales completed ratio I'd XX% from and year from during our
GRESB, the did X And X great for finally, the score Green the a in we of achieving third and Real XX, time, participate GRESB Benchmark, Sustainability earning Star. Estate Global of awarded Stars out
where dividends flow cash million common We hotel really of we environment similar select did REITs. this the margins and have shareholders kinds to all year $XX if to in return out preferred back an we look achieve at of can the EBITDA and service industry-leading growth, of RevPAR of margins we forward our always look been our excess at what
highest the has got years. quality lodging by high demonstrating of select REITs, performance portfolio RevPAR the growth consecutive our RevPAR X the far, industry beaten for And Our in. we're and all markets we've service of
average, X% traveler But in almost nonseasonal The was the April RevPAR impacted business by was in reliant September know, leisure months. on really that our month May, and In in X% you numbers. over travel health slower BT more growth February October. X% in growth and November was the the of growth most to is traveler of business continues about RevPAR X% RevPAR March health and on months holidays, months. religious the in those are the saw we the success Other XXXX, up than of As our show grow. and to demand business
travel leisure heavy leisure interestingly higher was other months. travel June healthier the offset by during about the business and those August, reflects the those of months, and softening RevPAR our X%, through during enough, which growth months During even
was quarter, by metrics. great attention quarter a our which the all Turning to fourth
of performance. operating Also peers' labor beat continue growth and again increased industry a performance as low markets our X%, by pressure, XXX and RevPAR margins benefit more in points levels. this who and moderate Again, Our labor. at to different of most reliance our presence basis peers facing costs than strong lot on single-digit their larger much moderation a is given union full-service are we
As we to range were able guidance end and exceed our a result consensus performance, operating great of estimates. of comfortably the upper
fact When at top in door markets. months. New XX our But that closed to look the our flat center, our X% mostly average top is declining. and you expansion Dallas exclude our convention to Dallas' you decline over is which next the only major hotels approximately undergoing grew X if due really RevPAR markets, our year X growth York area with and was across of to is the RevPAR next largest Additionally, hotel markets, last Dallas,
way I market and under RevPAR is was Inn Leading the X as these our at strength because move underlying after growth the encouraging were we the in growth the the our forward posting quarter. quarter, Valley quarter, hotels quarter Silicon was technology-dependent here in and up in in Bellevue into markets the up XX% and was XXXX fourth during XX% utilize markets our market Residence RevPAR the this renovation Bellevue the X% year.
further rapidly we've Bellevue past bound has other week. a tech the we tech years Valley, X that particularly the Apple many business the expanding and and in And of whether hotel processing certainly and billion that continues. demand, markets has benefit announced the Silicon to next seen highest with exposure in around investment as this hotels expansion massive $XXX technology AI, all just U.S. have chip Chatham in that's example, investment, as or for manufacturing over even Austin, big next-gen to is
we encouraged margins operating points ability fourth quarter XXX in X and highest our bottom to by really to pushed drive pleased line our growth revenue basis XX%, front, we're the higher years. On the margins this operations to operating as the
growth. in, regarding levels staffing locked and wage especially Our expense were controls really
we've stated and pressures. we've if down year-over-year. growth benefits wage us, As important room, a been and less just on a is they X% moderating room year-over-year you this last in the few labor distinction, than per an the basis, consider And was quarters On beneficiary occupied wages, per occupied for only of quarter. were in the
lowest position, to in few grow As having a the in of ability, opportunistic over out the and decade. our past We've great levels in ways. XXXX, therefore, hotels, years we financial over close several at the delevered now leverage got sit through sale we're
importantly, our that portfolio, the of strongest most outperformance growth the the especially exhibited assets course, Of have through in line given existing our portfolio. largest top
to sure. we return Second, hotel development This Portland, commence later very the expect Maine year. for in looks like do our investment and profitable a
we the seeking We've got acquisitions. still ability lastly, of course, grow. hotel to And financial are,
As have successfully I've hotels. complete the will said, successfully we of or the sale X
are levels low. leverage Our very
needle long-term as grow and to in particularly to that warrant we most year. I'm new the don't given further the Chatham. meaningful company portfolio supply expensive be accretively. confident X% the to move And take fundamentals dollars in, risk. appear FFO is our to too we in future returns, particularly this and this construction that investment are to at operate certainly our are new continue markets favorable grow increases the And here It is muted can than and across less new our supply going in doesn't
and a industry I should think of many from continue the debt emerged strong peers. we We've position. slew of to a outperform in financially maturing And operationally, our
more our to cash money forward. ability increase return our flow free to moving shareholders So to enable us incremental should
to And with to it that, I'd turn over Dennis. like
