Nikhil. everyone, and thank you Thanks, Good joining us for morning, today.
pleased that XXXX the faster continue the recovery, accelerating quarter strong performance their lodging recovery achieved operating throughout significant industries being relative throughout than year. XXXX. with to the the recovery this Against fundamentals fourth expected most are of We event our portfolio
high-quality debt and over of million to and incremental lower later cost of deliver to waivers, debt. acquiring debt positive dispositions. hotel million expected for which with extend of successfully $X results, our team balance during funded sheet cash increase Generating to are three included which billion our managing refinancing our of an executed further year, our Additionally, full-year, hotels us advancing achieve operating which to covenant which our on allowed strong through $XX maturities, of non-core actively value $XX the accretively flow priorities, the all flexibility, initiatives, from proceeds match corporate creation were EBITDA strategic dollars
recovery XX% throughout each with continuation The of Our initiatives confidence documented and driven nearly in was levels the with leisure improving markets. of strategic the year well our year, resort culminating ending demand, robust the by the which the exceeding fourth at by quarter XXXX levels. at RevPAR industry’s during recovery in sequentially was is XXXX bolstered many quarter
volume clear as evidence in of advance cases acceleration transit in medium important, in in many was trend corporate business recovery noticeable this returning and to was of travel with there companies. small respect both offices, increased an Just demand particularly as and group and business to sized
respect demand up reopened our fourth picked short-lived and our significant we with of Omicron, pent markets XXX encouraged a early Finally, operating due the U.S. strong also after the share. indication With gateway up although travel the during the provided outperformed were that performance, portfolio to the of to basis borders in quarter visit in of ramp to market points international our us emergence up quick gained November, expectations
approximately XXX of levels, the XXXX of points since quarter. our and RevPAR by were of the XXXX basis We start a portfolio improvement ADR almost drive encouraged levels pandemic. achieving our our achieved levels quarter to of representing the of Our from overall portfolio exceeding with an strongest representing XX% third XX% third ability XXXX the
with of RevPAR XX% XXXX GAAP to XXXX achieving XXXX having December closed ended our levels. portfolio significantly Our the
rate the Los in West, such Diego, will New Pittsburgh, two-thirds as drive of with slower of strength Beach ability California Importantly, including allow which XXXX the well in Charleston, our upside as push leisure represent our recovery Orleans, segments. in San urban Key Mandalay which urban our despite Angeles, Miami, continue our in markets our to our many of as positive there ADR in momentum the rates, recovery with our meaningful and was particular capability to to of particular, hotels, portfolio. In capture XX% our underscores ADR The us Northern market. to markets, Atlanta,
RevPAR improved quarter of achieved to growth Our group as throughout in of continued the from force the the December. We be oriented occupancy up year. will portfolio urban quarter, XX% evidence momentum XX% demand our the transient in as small, These from and our basis groups. urban [indiscernible] of quarter-over-quarter, the of saw social, of believe these and the business and we forward, the growth trends We increase of throughout XXXX portfolios have a these our recovery while improved expect segments that demand driving our for significantly group recovery confidence benefited hotels further trajectory the outside going weekday business travel our segments. positive fourth third XX% sports point bolstered the drove in XXXX, transient XXX we in
our we overall for growth external growth our metrics key our advanced allocation, objectives, and positioning operating which improved turning EBITDA key as profile cycle. RevPAR, margins, such capital and enhancing Now while internal this per to end
initiatives Pro points forma led in XXXX. over Our year improvement alone capital margins our recycling this to basis XXX
ink Boston’s Specifically, the location neighborhoods. during and South acquisition on quarter, highly the AC development fourth an Hotel desirable Boston within End XXXX which the plus both of downtown, we opened block the of closed in A
than EBITDA. City we have of New disposition This disposition to York concentration a funding hotels the metropolitan located is impact dispositions the result top City. desirable less $XXX Denver. an which highly at of with New EBITDA approximately hotel opened million XX in XX which Creek aggregate Creek was in proceeds will creatively reduced match incremental Cherry in Cherry the The in from nearly stabilized and total, the acquisition deployed were hotel the times acquire of match Moxy in of completed In at Denver, accretive closed located markets also the in And we in XXXX sold of submarket were highly high EBITDA. We our late X.X%. $X acquisitions year, non-core quality heart in to an aggregate DoubleTree York These of and to three times. of million an growth multiple during approximately multiple of funded stabilized XXXX net
robust We expected are hotel are capacity, able three XXXX that pleased exceed with our pipeline. acquisitions were our valuable underwriting will acquisition match underwriting to our recent prove EBITDA of our the approximately recent our By aggregate outperforming already all funding which acquisitions, given report to we fully our to acquisition retain by XX%.
a includes market several pipeline, year opportunities. the by are quality We assets acquirer our expect to be our which off and net this within encouraged of
generating to conversions, $XX million $XX to embedded our to to $XX EBITDA growth million towards in million an incremental make $X internal on stabilized value the include creation On remain fund, track. from These are we which cycle our three management million million continuing $XX our enhancement our expansion renovations, incremental points $X basis that being progress from opportunities. which efficiencies million operating from agreement $X industrywide that from revenue margin be normal synergies. million XX representing of from as post-COVID part amendments opportunities to are any and of completed margin will finalizing,
opportunities internal sheet efficient growth growth drive multiple throughout catalyst of cycle internal our expansion the with growth balance capacity drive the recycling of and fund to our Our and external initiatives. to this to unlocking EBITDA channels have and created capital the
accelerating Wells lodging confidence as office are especially industry global this the This driven Looking will the of expected forward demand and continuation groups demand of year. who of travel back believe with represents travel urban in see dry This as we reemergence the Group We reinforces outside have pent-up ahead, for next increasing. believe for our and and year, growth strong of expectation a half leg in such that we traditional in of be demand moves throughout segments. the a SMEs restrictions. strength the the reopenings Microsoft, urban by mix past demand companies, in being in growth travel especially the from throughout backdrop seeing February markets. resurgence Fargo, travel to the Bank accelerate This well release runway should markets, corporate from The Omicron. fundamentals will the in business is across America of which an meaningful corporate improving and continued should pulled all that the the of lodging year, is of and recovery. return driven leisure by ease year the strong as improvement, addition of
of group has momentum the our representing increased XX% recovery the in currently levels. confidence XXXX with definite Our of
this XX% of Within year, the is of saw year’s the year first XX-days year in year at the already in pickup. pace, the impressive booking for last we which an
markets such travel opened Francisco, eased, an travel while with could New in that to Boston, City, volume the which York the if at cautious Miami. provide upside, surprise a late from Finally, international or borders gateway international optimism and us benefit uptick would restrictions provides a were San as XXXX
with the about accelerating in expect markets. of broadens cadence trends to recovery, each to As gateway recovery third the improve quarter, key we growth think as and quarter, and we fourth urban the sequentially
well urban Our in markets. EBITDA positioned geographical is footprint of in given our generated with XXXX two-thirds portfolio our
of by competitive ours, external our the full will to look acquisitions portfolios significantly internal the from the EBITDA a and wage of our capacity, from well model, up current funded we fewer recent balance our at incremental will growth outside As of and like less a pursue group, future flexibility to us The business lean existing service operate as to inflationary our will ramp catalyst the both be FTEs our advantage environment. which opportunities. provides urban overall operating compared as as cycle, benefit which come allow realization sheet, with well strong acquisitions, growth EBITDA recovery transient growth with which as and both impacted embedded portfolios
which three in year RevPAR, is significantly basis of believe point EBITDA Over and and the We EBITDA achieve XX% this in to absolute beyond. we we increase a a are overall in quality have an XX enhanced outsize improvement by the hotel our last years, well-positioned evidenced per growth X% increase margins. key, hotel portfolio,
and for Sean. Finally, corporate their turn hard Sean. the work, I all now I management this our thank and our team would our of over associates, entire companies recovery. will during hotel support to call commitment to like
