for everyone have Good unlock in year we successfully and and sheet for for our growth. on all strengthen Company as long-term you plan, us. By for morning, We to year. achieved all a measures, RLJ, Nikhil. Thanks, our executed thoughtful our balance the transformational laid the joining priorities out XXXX we was thank portfolio, key value position our of
X dislocation time incremental to We of $XXX we price a multiple our goal X.X million on net repay to target debt approximately from proceeds average combined sold completed for on of pleased ahead XXXX $XXX EBITDA proceeds $XXX to I'm and close million. was million times. In seven ratio times realized objectives, fact, the ahead of sales successfully of merger. of the XX the in our we sold We synergies $XXX not redeployed completed also ended we highly $XX stock of at exceeded year a at exceeding of over report redeploying by Fisherman's the of on met multiple only multiple them exceeded assets accretively that on with We times accretive of million program and to these expectations our capital or but And of to we million times, times. target our We XX proceeds and our a our our million of each schedule. net Wharf, debt XX.X took the targeted shares in advantage into $XXX finally, which budget. times. for RLJ G&A XX of
was year undertook line results renovations position the combined due to beyond. In markets In out of and fourth operating a transitional our proud shareholders for us with we to performed to the growth expectation. for these has accomplishing our addition done tremendous team platform, we to am this position our value year. work create in Operationally, long-term. the us XXXX for part XXXX rounded our team our objectives, I in the in quarter, in key
by several solid achieved difficult RevPAR we disruptions, growth known hindered renovation While, nevertheless including our and comps margins. was hurricane factors,
areas. key are on we year, as execute poised main in accelerate priorities on focused we to four XXXX, are enter we momentum, our which As this
and XX our to we generating the objective will expect XX year. end of drive points basis to synergies through of basis achieve aggressive operating by points the operational of we First, results, management asset
legacy selling non-core optimize portfolio our million to RLJ $XXX FelCor to opportunistically we $XXX assets by will continue the disposition the and of explore Second, remaining of million assets.
investments low And and capital accretively, share investment levered a include which to continue finally, we will flexible capital we may deploy maintain and will repurchases, sheet. balance ROI Third, opportunities.
number capital a redeeming of share accretively on operating allocating already the have cost and repurchases our sheet synergies, high balance including these by equity to progress continuing through discount enhance preferred priorities, We realize at the efforts made significant NAV. to a
we dispositions significant to at value track at the we Additionally, remaining Beach record a asset have have which Knickerbocker confident shareholders. assets created attractive executing and are positioned that of to sales, valuations strong for valuations. remain Myrtle FelCor We assets well legacy two sell with the the respect that our include
of confidence of these market to assets, investor The are looking and in high remain asset these Beach squarely resorts resource sales quality Myrtle their by attractive appetite high overall is execute ability these our attributes. fit assets two well premium Our for in Hotels supported the strong hotels that for. beachfront and are profile located, quality their buyers
quality Knickerbocker, to attracted location with encouraged to starting relates fundamentals York in the projected are a highly excellent to of buyers Combined overall That improving currently are execute are we we given decelerate this asset, that in we year. it As said, supply remain new discussions. the actively that seller, with next and disciplined confident New we sale. the this engaged we that remain will
information defer providing any additional today. We will
giving update more However, forward a to we at an look appropriate time.
our Now performance. operating turning to
X.X% year line expectations. with full of was Our our in decline RevPAR
for demand face have RevPAR these the declined items, Florida. from and RevPAR the for fourth the Adjusting growth impact Our comps, been year renovation from and South positive constrained difficult our Houston was comps disruption, inauguration, Florence. our by of particularly in the the XXXX In especially Super quarter, as year. and combination non-repeat would current X% Bowl from presidential difficult Hurricane by RevPAR we hurricanes
another points the hurricane RevPAR Our and renovation approximately XXX by was growth disruption. due constrained basis from the points basis XXX to comps
by With assets, also strong but RevPAR year, first to start not Northern a our with during of of one largest the due fourth citywide, by in quarter, respect year are were include the flat over San Northern especially XX%, key we citywide flat, during RevPAR ramp hotels. of markets California union was the be and our market of calendar excited expect softer expectations. quarter. the been strike. only primarily in the With RevPAR markets calendar in the our have This quarter, would our growth we California citywide this our with by items, robust these record to to positioning Excluding our overall renovation demand the We which year. at January post to encouraged the strongest exceeding three will the Francisco, up
and of the in benefited achieved of corporate Jewish hotels the Our continuation of fourth leisure and quarter New the the favorable trends. York solid growth RevPAR and market in X.X% holidays strong from the timing
with last in with year. led our the very fourth the a Louisville Marriott at the we our Louisville, This up Looking expect strength ahead, largest XXXX. in RevPAR. in difficult and RevPAR renovation we XX.X% an In XX.X% combined decline corporate during face the continue quarter demand to leisure to hotel, comp
is confident renovated of are XXXX which hotel Convention renovated outperform Center ramp the that strong to group We continued our in to due newly a hotel. recently will pace up our connected a and
our of Chicago, robust business. to RevPAR of strong project X.X% citywides a a Moving as by increased base we and from benefited combination
we from disruption last up the Courtyard Mile ramp Additionally, the of year. Mag benefited that experienced
renovation This do citywides primarily renovations our California, declined of additional In are citywides Looking are combination Southern a taking market. to year, we to in X.X%, due Chicago. advantage of this soft calendar LA be hotels. in expected weaker disruption a our and by in RevPAR to of ahead to two strong at XXXX, citywide
one a in and we our of X.X% room congressional weak softer expect per of decline RevPAR during lower decrease the the a be due In experienced quarter, market citywide DC as DC diem XXXX, to nights, similar expect backdrop, result, Our rate. and to markets. we calendar a
of Lastly, citywides, among comps. impacted growth some soft top combination was non-repeat new RevPAR a and supply and our business, Houston, In Florida while Austin due were markets. to South tough hurricane Denver, by constrained
consistent our in expectations in our these markets As RevPAR the quarter. with a was result, decline fourth
expect while growth positive in strength to the in leisure we Houston, in XXXX, Denver. and be constrain demand new For Austin Florida, supply continued South driver a will
look underscore outside diverse in Antonio, at These a our outsized growth fourth of and these top markets X.X%, markets XX, XX.X%, up third owning a we and the Charleston, X.X%, benefits achieved achieved EBITDA, which number RevPAR growth approximately Boston, Myrtle the portfolio. respectively, RevPAR which our San of Beach include and make X.X% of robust a of quarter. of As
an year. slow growth is believe environment likely from this the ahead that in experienced XXXX to we persist Looking we macro perspective, overall
While to moderate to projected expansion is continue last from expected the pace economy to is the of expand this year. year,
We economy RevPAR optimistic an are albeit cycle. elongate a in cautiously expect lodging the XXXX. expanding that slower we continue That growth environment to will moderate said,
key which expected the made have continue to execution the of is wages, for combined pressure well headwind a priorities, environment, to industry. labor are Notwithstanding for the significant already the continued positioned XXXX. we our progress entire with operating remains we Finally, the macro with tight market
will capital both opportunities. expect we and expand be target our remaining us allow below comfortably hotels accretive, sell sits allocation which FelCor highly to now capacity our leverage Our to pursue to the to of
We are has also tailwinds the our this year. encouraged by portfolio
Our we that Northern with from renovated this is largest citywide in benefit hotels added to market year in well last a three the of record form market positioned the year. of California tailwind
other the renovated achieved Super from strong of overall benefit Florence the underwent hotels to we the strong this XXXX ramp number disruption from And in group well in year given we In XXXX. growth tailwinds pace with recently comps we of Bowl. peak benefit its renovation markets. Tampa, and also US citywide to hotel. of trends lower other also consumer. Embassy a the current in Atlanta, from expect In Suites renovation leisure positive Downtown Charleston, continue Louisville January, expect finally, have of several and A for our the we Florida, hotel, last And ahead XXXX the largest hotels growth to Marriott in up up Our promising, significant year. leading the renovation tracking South favorable year. calendar look is strength of strong our last to exist Hurricane In a projecting prior our in RevPAR strong and
partially I impacted These offset will in Sean over DC, review. will by our softer We the citywides Sean our review to dynamics expect market in and some the are Austin, operational highlights. of tailwinds new a reflected turn other for which be call detailed now to Sean? will more and markets, these financial our guidance, supply. as which Chicago, of Denver, and such headwinds
