morning, Thanks, Nikhil. us everyone, joining for Good today. you thank and
and of to was of opportunities encouraged we our only allow rapid facility line the urban quarter call, expanding not remaining our available lodging did reopening. of acceleration amended credit our strong us. last recovery Against our our were expectations the since our achieve we allocation range expectations, which initiatives, seasonality exceeded repurchases, markets, momentum in share continued but demand corporate which of this to sequentially the first results are lifting, also improving ahead mandates on second backdrop, the has balance improving repaid operating for capital value-creation improved This quarter quarter. that credit and throughout fundamentals advanced by with most of the the notable the We in offices resurgence as into
of our efforts positioning these for the further have overall All year. strengthened
the strength markets. ADR momentum of backdrop, materializing. of push broad our the the the The fundamentals, this With across across to all to relates accelerating the integrity positive experienced maintain and new is the throughout markets rate by pace segments that improvement demand quarter industry quarter. is and first was to the driven our throughout of it ability of recovery evidence As industry all first highs portfolio of
from rapidly XX% XXXX XX% XX% XX% carried increased RevPAR from March, of Our ADR in and into by ADR achieve January XXXX group was of improved levels. of demand, further to robust This levels. improved driven pricing to in XXXX our XXXX momentum in March April, March power, business RevPAR, achieving to and in leading with which growth which eclipsed
our highs indication Our that exists ability recovery markets of of the to of an full to achieve the new one urban ahead rate. ADR room in drive is
D.C. Game as California as the of XX% achieved the was levels. a our Southern hotels at driven increase such recovery RevPAR of be by underscores to confidence continue of March, We exceeding strengthening significant New the in benefiting Demand our saw urban Notably, urban January. by XXXX ADR our urban over markets Atlanta, and a of citywide, NCAA of The urban a leg improvement group approximately employees momentum urban that tournament. Developers at and California, next returned of represents point which believe achieved first saw the hotels, at inflection Northern XX% significant is such will hotels demand. number recovery XX% office and improved. our also attendance X/X that Washington, our the York urban pace XXXX, the reopenings with XXXX markets our markets and March Conference underway. offices our portfolio, this Boston, compression created recent quarter, approaching from of the which to as in In or during
increased Our XX% achieving had and of citywides. XX% Northern levels, XXXX January California with which by RevPAR record XX% March RevPAR ADR and March, between achieving
office the citywide continue year. our forward, the Northern the reopenings stronger midweek in The group build substantial With trends transient throughout to of urban driving validates our improvement and hotels calendar our the a performance. continuation that California going to and recovery we of demand is in business expect further acceleration
to weekday our Our pandemic, the services XX% growth our XXXX, continuing between January business a transient achieving was financial RevPAR of SME weekday and of as than With pandemic. of higher March, industries travel was ADR of bolstered January represented high the by the nearly watermark highest traditional achieving in with return the a XX% March in XX% This achieving and XX%. such of accounts levels, new base our which respect XX% sector. with XXXX the of was and of diverse insurance aerospace, accelerated business the corporate from by revenue transient, March
was growth RevPAR continue Our forward. rates, strength, aided which corporate to by going maintaining we expect our
first the current bookings. corporate group demand more trainings now our throughout accelerated broadened such group employee to include also Corporate as off-site events meetings. approximately and segment as of group XX% quarter, groups Our represent
calendars held We of meaningful our in-the-quarter, in the a increasing attendance with XX% improving, in-person of also ADR increased has XX% since RevPAR of which volumes increase second achieving group March XX% beginning for-the-quarter being with XXXX, to also pace booking year. the drove XXXX. our citywides citywide was as and driven quarter events over which benefited by by from of revenues, all levels With holding,
increase return RevPAR which between theaters the of from and This demand of highest our XXXX by venues, was weekend last leisure pandemic March. by at January related urban March RevPAR benefited the X%. year, as many of the XX% capacity. not exceeded museums, open and reopened full and were weekend we to Additionally, led
throughout EBITDA the quarter March. XX.X% month environment first and improve in achieved to Our sequentially XXXX exceeded March. improving remained of margins hotel ADR elevated XX% our led weekend by and margins demand in The each
capital Moving allocation. to
Santa well House underway hotels Embassy the the to Mandalay Monica of The their Mills year. this to providing of We on an our overview internal approach track Beach, Wyndham continue are make forward are by the delivered Suites transformation relaunch. Wyndham progress on conversions as reimagined the We and of to look we the and be great initiatives. end growth Charleston
We on results projects and renovations. the incremental are beginning reconfiguration a as initiatives cycle and the being on space part focused completed revenue number of enhancement which of making are from executed of to see normal are progress addition keys,
expect, back of we operating We agreements And the margin the margin to to expect will basis incremental be the XXXX the levels. revenues to XX several synergies. completed with we projects points industry-wide additional returns expansion, the have that of contribute amendment coincide enhancements from of will post-pandemic to these ramp relative to which that
transaction relates it Moxy to advantage Denver, Creek the last the market. Denver with year, capital to As footprint recycling, acquisition two took an the active we of hotels in which sell opportunistically further market in has repositioned of Cherry our
hotels and in Denver acquisitions. growth, Creek, South desirable demonstrated to submarkets. have Our source we now four concentrated attractive to Cherry Relative remaining Boulder external are the ability
to this are XXXX disciplined, We pipeline XX%. we expect That remains our which robust. opportunities with our by acquisition have recent to to and continue of over acquisitions, year, active our demonstrated expected remain as exceed be said, underwriting we will
repurchases amendment potential capital tool light on allow period, with current in our lodging in underlying waiver we of This program. authorized facility allocate another provides and during a of share and $XXX stocks repurchase the us recently the credit the relative values. Additionally, to share Board our completed covenant markets dislocation capital million the front, to corporate to volatility asset
we several best metric the it portfolio validates this on last based the RLJ have value owned and today, our company, further over public quarters every we relates is high that comparable As and to of the believe quality as a that assets. trades
year. will we each that ahead, the confident the throughout demand remain Looking segments of strengthen
the accelerated Our in into we trends March, demand robust bolstered April. have by saw is confidence which
expect second healthy trends remain We during demand to quarter. the
employees continue the Given pent-up transient pickup expansion from benefit have to pace In business to window. we a of in April, as to booking already improvement is seen volume return offices. and national that, our transient accounts, in from continued expected demand
up leisure, we year, total as demand robust, year, New urban revenues gain expect bookings strength York year XXX% California, And continue was reopened. last with move uptick benefit should improving into urban any on Our segments, and markets last strength to so our in the summer the Northern the Urban with which is the fully see attractions falling which to should particular into half international these our in-the-year, year we trajectory this for-the-year quarter. in of trends Florida. the markets. to with these urban group finally, we continue far bookings in-the-year throughout greater picked muted momentum second are as Based and such gateway of of recovery
rates the us our enhancement while have date a significant they sheet unique position expansion smaller margin fewer of potential signs value to continuing initiatives, that fundamentals which our better focused encouraged post-pandemic inflation, ability headwinds. challenging hiring, our and our footprint, liquidity to turnover continuing drivers, recognize margin with are reduced with length expansion include ramp Overall, the while balance positions. a and operating of our will operating returns to seeing and we longer fundamentals, be geopolitical conditions allow easing had capital our our we conversions, rising expenses, measurable could are significant to we urban are to opportunities. from Additionally, to cost pursue from lodging fewer create acquisitions, That allocation multiple well-located model, with impact open by on tight our that said, interest given recent respect employee and capture operate and revenue given embedded strengthening FTEs lean improved environment, in and labor events stay, industry we portfolio strong not growth
us that the growth initiatives Given outsized to to the I and this throughout we will Sean. cycle. now are will allow backdrop, Sean? and unique positioning turn portfolio value-creation drive our call this year over confident
