Thanks Ross.
CEO his organization to his acknowledge operational our XX that have investment service a note, we of humbled and original for I'm past amazing well I Before Ross a architects one together and since I and of say moment in his I that very and speak the opportunity to Ross integral our of establishing the excited organization retirement know lead personal performance, want the at leadership a to say endeavors. been On he's over a I years future and for that our RLJ to the years. and strategy dedicated such talented as contribution his want over group also I and when tremendous the by in decade with to two appreciate for take greatly past the worked for I highlight Ross him company's this of I beginning. was everyone wish also company, individuals. foundation this
entire Our value. initiatives focused to of shareholder we committed the vision the we execution our on remains drive outlined. team key have remain management And to
by our better X.X% operations, had what our for first Now, only in our was exceeded which terms of anticipated. quarter with than results RevPAR our expectations declining the we
As high renovation related and from business stronger our first despite evident This in days. by Super with comps displacement from are the is illustrated Bowl year-over-year further saw trends we is the transient travel volume performing which backdrop Tuesday This which increasing by indications hold as and Monday headwinds industry, occupancy weekend relative positive inauguration in contribution business tough such and to than revenue weekday allowed to the us positive Houston. quarter. D.C. in
several markets York New delivered Chicago, expected, performed performance. While markets South as Florida such outstanding and better than
was amplified compression stronger room Our first our by quarter. increase achieved strong and the XXX in in group the hotels the at helps of growth XX% hotels broader drive in outperforming nights market the Significantly demand market. that points, RevPAR corporate transient Chicago basis citywide by during
as second our RevPAR of of and demand easier hotels from comps we robust While Caribbean fewer we more light the had led half achieve cold expect growth much quarter in for combination by citywide, demand we of the country, driven strong a second a weaker to expect hotel. shift to throughout a leisure as X.X%. to our such favorable factors have holiday South year-over-year Florida, of result Chicago have In displaced a a of weather impact positive
comps. South Florida markets of we despite this positive one the the fourth trends quarter Given year stronger in demand tough market, are seeing could our be
Hotels corporate shift, by Our growth holiday New primarily that X.X% by the driven with bolstered achieved RevPAR improvements quarter, production. coupled York travel first the during was leisure in
first very for see this a by New the compression of new Additionally, be year. full a Despite the a to our transient further New was overall in increase will the supply base. results York in to continue were hotels York X.X% pleased the in our strength amplified group quarter solid challenge for increase We the market. at quarter, demand
San was leisure growth by in California strength reported temperate Strong citywide weaker wet in of and our RevPAR and cold demand growth. Our continued Southern number weather hotels Hotels a Diego offset a and demand. that calendar at flat corporate
performance market remainder in improving this market. year expect RevPAR declined X.X%. by Denver of the the for for we ahead, Looking our
our continues strong, by submarket. in be were results South softness Although impacted to our corporate Denver the demand
modest by new Long-term, Excluding would to we Denver basis have increased year. points remain these demand the this Denver we market and increasing to to hotels XXX growth growth attractive expect hotels, RevPAR RevPAR while an drivers. expect have given our X.X%
line Our market with expectations the for our in California performed quarter. Northern
to XXX renovations year, throughout calendar will performance strong of Northern hotels take renovate they renovation performance the will for next would continue record for cluster. basis beyond. our points. during continue Moscone expansion the Northern position market while RevPAR California citywide important our approximate our in Adjusting California displacement, by advantage this and the timing to several And improved of We these have year
last January in to created for Moving March in year the expected the D.C., our inauguration and market hotels. overall difficult as comps Woman's the
business significantly from last stay hotel the stays market X.X%. only outperformed our Several decline hotels the partially allowing of XXX points by long-term our to and benefited transient However, during RevPAR basis offset with extended comp. a quarter us tough year’s of
the creating we second outperformed Bowl difficult anticipate to quarter strong D.C. our of headwinds D.C., two-thirds Super benefit faced portfolio year calendar Houston, from in expect market while our these the results hotels. we And for the Last now also headwinds. the rest With citywide improve comp outside us. of our to we the exposure year, a the to to behind us, similar for market In to
XX.X% markets. were for also performance. continues Louisville, one Louisville state lack to expect for lower We Austin contributed turnout South Southwest respectively, Austin, to of among to center non-top In our impacted the to RevPAR performance the markets portfolio. year. by and In Orlando, convention of achieved of of underscoring benefits our our Philadelphia our strong of our the government activity and softer continue and several including our the Houston softer be which and XX.X%, soft Outside digit be our full markets Hotel. our a double growth top renovation both show by Marriott markets, the growth diversified at XX and
over points solid to margin EBITDA first portfolio during prior a respect with XX.X% was the margins down which XXX generated quarter, the of basis year. Now, our
only expected, up we and of real down by X% taxes as quarter insurance, affected basis and XX been basis which pressure Adjusting actuals for margins versus had this, points been would approximately our margins estate have points. our operating This only X.X%. would expense from expenses XX our have
last full approximately led better Our performance $XX results quarter. for night's share FFO corporate EBITDA. stronger EBITDA in line approximately the financial of reported expected reviewing and than the a and on than adjusted million reconciliation adjusted FFO for for release top or We a million $X.XX expected per of quarter. the of recommend exhibits press adjusted We $XXX basis adjusted
quarter $XXX debt Moving net a billion $X.X in the of sheet. times. to of debt cash outstanding, onto ratio balance and X million EBITDA unrestricted our ended with We
interest sheet current Given XXX million in basis our and In legacy and which At X.X% we average or remains with $XXX strong at maturity a coupon redeemed position. credit. outstanding our our the end down balance We facility. sales the we a rate FelCor points leverage weighted profile, credit our million paid end, had and of bonds of than our asset more quarter on proceeds had from of of bonds, year. March, $XXX line flexible the
we However, million. an down April, pay $XX in incremental
$XXX which remaining of paying pay of of use year. sale our credit, asset will the million balance one us our is $XXX achieve initiatives, We line down enabling to a to this the down of on proceeds total million from debt subsequent of
and in last three total continue grid our by no balance January, now we transactions call, mentioned we weighted reduce million. our of In other XXXX. be $XXX maturities average aspects of I Approximately basis profile a our term our loans debt our as successfully have amended debt maturity to fixed until pricing at our of These the points. regarding sheet. maturity is XX Additionally, significant for proactive years. stands collectively and unsecured across X.X spread XX% We improved
relative our basis with XXXX have expect we hotels across by approximately for program, our disruption we we’re performance plan was that year. basis by expectations. With in guidance XXX XX% disruption XX representing continue of towards debt, $XXX of great on the balance to we our and and remains RevPAR of this very pleased regard us million key In million low we’ve affording was a the points $XXX over flexible made hotel EBITDA are estimate progress points. the for track. initiatives to Additionally, our points, to unencumbered our RevPAR full-year quarter which We XXX first increasing XX this to expectation our quarter In full approximately of results, our end sheet. capital assets light basis the the our quarter our renovation consistent summary, with XXX
business We travel have the performance. not yet our adjusted expected quarter improved than outlook other than better for is first
of quarter’s additional EBITDA and the We’re reflected our of performance the our in also are adjusting the Philly. for guidance Sheraton first guidance. net effect No sale dispositions our
the follows, guidance XXXX positive growth updated are Our RevPAR negative X%. X.X%, metrics as of
million hotel EBITDA’s for adjusted range remarks. million our $XXX this Thank is million the Our And range concludes new between year. to between the new EBITDA’s $XXX for $XXX million our $XXX full full year. is to you. And
now Operator? will line the open Q&A. We for
