portfolio is one unprecedented year well a the that believe pleased light the of of achieving well tunnel. to everyone I've encouraged across March. speak pandemic. as dramatic I'm sequential for when increase been a including outlook and I'm consumer that breakeven very occupancy of I by living mobility. Overall, at Thank growth, confidence our of across you, we helped improvements greater optimistic safe, is start, hope as in meaningful there an say pace weeks recent To portfolio Ian, has healthy about I and drive report I vaccinations EBITDA which us the many finally to our I end as in through significant forward. in everyone. U.S., the and full surpass welcome, going
savings Congress President and that On activity. Ongoing increased tailwinds way others. XX%, State mobility. approximately those rate while to the begun front, local paving increased $X.X including the have several are increased U.S. jurisdictions travel economic economic March, are stimulus impacted public there for the plan and fueling savings Biden's by lifting restrictions relief fueling continued The by gatherings, in stimulus, government on provide has for now sits savings pandemic, passed while trillion the which at most for economically expected also spending highest the forecasts will at than growth Personal second approved, government February. investments XXXX And proposed currently to and major infrastructure trillion X%. be $X.X in another year, to materially exceeded be recorded PCE of to end from investment this in Both is forecasted on close higher economy. record, consumption since are boost XXXX. the business if be reach rate X% March, trillion to strongest up personal the would $X.X expenditures
is forecast of since the GDP averaging a highest the is As factors now XXXX. projected XXXX these which result level X.X%,
the at of toward second an reopening and million, down our laser-focused pandemic, burn our even year. rate incredibly start backdrop, breaking key burn well this bodes with profitability by from a portfolio we and report the eye I'm include our $XX on for million safely to priorities, Against efficiently which pleased this the industry. reducing the was of rate. balance returning that the in to $XX high March our of half monthly of our near-term of All just remain
operating savings $XX basis the of addition, or continuing reimagine to $XX with model nearly total on another cost to annual improvement. focused million points we million savings, margin of remain XXX In hotel bringing identified the labor
further strengthening the sheet include, asset color and will through finally, I Sean maturities, deleveraging sales which out priorities offense. provide Additional balance by more shortly. And on and to pushing pivoting
project meeting our As we attractive Bonnet markets. our relaunch value-enhancing and pursuing Creek target expansion space and in acquisitions selectively
a demand first were driven I in quarter with as am proximity March. well strong results. trends Overall, located quarter-over-quarter strong material to in with including resort by performance leisure our in sequential pleased the as our markets, Turning those to hotels improvement, results generators. pickup at demand
consolidated our and in XX% which both XX% in at March. January hotels, occupancy quarter from to includes suspended opened First portfolio, increased
more EBITDA our well ahead our expectations. relentless pursuit in previously were For below of to down declines able breakeven seven and March and portfolio efficiencies in to February. with XX% our of for XX% We of XX% range with occupancy XX% XX% the with making of hotels rate measures XX%, compared break of allowed targeted even. efficiencies, reach reached with March, cost-saving demand March, XX% of to XX occupancy occupancy in XXXX our along impressive. improving from hotels, open all versus to were reach surpassing occupancy measures our trend breakeven We breakeven This just EBITDA coupled initial us XX% and cost-saving able communicated, rate average the to to levels, our we well
improving Adagio on demand hotel result hotel at to Seattle including in continue and reopenings we of San make the trends, Doubletree La progress Meridian Francisco the and Airport. a As the
Francisco have prior suspended, of the Chicago expected Center March, in mid-June. City scheduled open in toward reopened San were in W with reopen to week hotels just Memorial Chicago next the Union Hilton to X,XXX-room reopen seven Hilton The which remain that of Day end scheduled to now is weekend. we All Square the to
leisure recovers. of as XXXX. for third roughly restrictions four the demand during of terms two-thirds leisure to our our the currently the quarter quarter. nearly fourth remaining of revenues and hotels, perspective, these quarter, In from doubling travel demand hotels reopening our end we segmentation Rooms related a by reopen the accounted ease of expect From
pent-up for While XXXX. clear spend our XX higher including Creek in the outlet $XXX or where witnessed QX properties signs Hilton we than several Bona per at XX% resort of was occupied in spending Orlando, of room
While at the that $XXX Dorani Bonnet Creek than Wall figure higher was XXXX. QX XX% or
discounted total have of increase and April. during over occupancy up of so In pace addition, occupied excluding rate for during demand. average in show has located with increase signs given by out quarter leisure quarter Not lower-rated XXXX. able In to double the transient began Florida for last per hotels continue quarter, channels. our top-performing what revenues bookings XX% surprisingly, that levels travel our quarter these rates the been hotels spa the and in leisure for XX% small closed, group in place. beverage many our to resort teams XXXX more of levels ancillary of the been markets, in Business are while that in the on XX% three Each golf we demand from to exceeded expenditures while exceeded our for XXXX destinations promising than leisure $XXX the of XX% by several at Overall, January improvement yielding remain XXXX demand profitable more food generated outlets room, group demand stronger-than-anticipated from levels recovery to restrictions than of more the quarter. South in QX of volumes the showed quarter, quarter lead marginal minimal with first
Focusing markets. on our top
averaged million. hotels collection incredible successful only surpassed the RevPAR continue an it Reach also while XX% reach's quarter combined Curio first in surpassed by total $X the the combined $XX first the Casa budget spend Marina The witnessed a combined XXXX Waldorf X%. million XX% hotels which restaurant concept. hotel's to the our Key West, in nearly RevPAR lead during the and occupied strong averaging in and two and by revenues quarter with largely per year-over-year, $XXX Our by Launch nearly was driven revenue but for XXXX quarter ancillary for $XX the was for of record occupancy new of way quarter. Outlet to The room grew hit both growth their not spend $XXX portfolio. up outperform quarter XX% addition,
has the have well. While the the competitive Key track, West markets well pandemic particularly our respective both index. sets hotel one West performed hotels during strongest as consistently their outperformed Key as been having of With RevPAR in hotels
pace year. of demand balance about and phenomenal the very Given Key the feel rate, for we West optimistic of growth the strong
was the our of Palm throughout story successful Rico our March Royal markets, with XX% strong up in spring at March. has strongly break other ramping for occupancy to a quarter to January XX% hotel leisure the also related terms in increasing IMA on Caribe Puerto demand. another demand top from in occupancy strong reach our at In XX% Hilton with been quarter performer
the tropical other Given destinations, Caribbean been Rico Coast travel and to Puerto for popular especially a alternative residents. East restrictions has
Hilton saw reaching of occupancy three open during Recreation to RevPAR Turning five Village at by of towers Both to the March our just occupancy in momentum for close revenues. the Village strong $XXX in XX% quarter. XX% Spa with with Hilton XX% averaged total growing averaged Waikoloa occupancy Hawaii. Wine generated while an properties month the & impressive
unrestricted be East early additional confident from of aided could well domestic Hilton over in corresponding at those XX% Hawaiian as whom facilitated United negative to been in restrictions been travel out The for Village hotel. by is domestic American. X. have about Airlines, by ability game and is the of year, to Hawaii COVID airline airport. at slow remain remain where with will demand to also to our a real many are in Hilton the travel introduction Overall to with offset when tests the for July the has of reach occupancy air balance anticipated while travel travel which as been weakness service and Hawaii Asia Hawaii's and airlift to the forecasted from vaccines quarantine roll home as restrictions of increased fully at XXXX Hawaii offer The occupancy Village happen from rapid demand expected Waikoloa has we we recovery this either or Hawaiian COVID pan-Pacific place. restrictions changer year place, Southwest average vaccinated and Recent bypass XX% in expect While wide-body proof as carriers, domestic for greatly test at allowed expanding airlift
to two in continued ahead driven the who and will a group of expecting years restrictions. for strong travel are East international travelers Asian increased of demand, after bookings return hungry Hawaii, strength, XXXX very year by be Looking we likely
of seen have with the restrictions we paving demand potential incentive a we way Hawaii Our for Miami group and Key ahead booking last demand in few in the has Simply Hawaii pace at Asia believe to travel as sits pent-up quarters same experience XXXX group are past over recovery. accelerates. demand East as currently put, the for West year XX% impressive eased and growth over leisure in
front, the French received we recently the quarter supporting On marketed strong are lodging million. encouraged gross announced ongoing for recycling on the $XX of currently proceeds we hotel for institutional market by have Further capital XX-Room are assets assets. that demand of sale we quality W Accordingly New interest the - sale. being approximately pricing for the and Orleans
already CapEx. NOI reduced are in it us into in down to a the hotel's and pay a also to rate we XXXX anticipated million market allowed deal translated our of a pricing, with $X which inclusive exposure on strong X.X% which presence. pleased We debt the have cap Transaction
expect assets report news several various have weeks. in coming process and of to stages We the disposition the positive in
the Thinking of hotels a strength With XXX monthly last the with nearly upwards overall the March's occupancy April XXX or Digging leisure goal. strong $XXX non-core hotels or track outbound by we while demand quarter, average of anticipate landscape leverage our deeper basis year, million $XXX the to was are XX% we this see than Florida, that operational stated large to of million this continue San California for into achieve remain into sell like a increase for our to summer. Hawaii, Furthermore, April. sequential As totaled about assets we year markets travelers growth XXXX, portfolio of and markets encouraged plan evolution driving travel urban choose to South to and potentially focus which $XX we RevPAR open the reduce open through demand, balance to our expect points, on over on continuation and the DC. higher we'll Boston market in travel $XX we March. accelerated continuing US in Southern portion for Francisco, April like of million and domestic of
changes material Day office after any expecting Labor companies for business return to not some transition. this are We the employees in to travel see until targeting more with
group short-term groups the the in from large markets. late there return primarily in QX drive demand although the expect as continue to of to near-term for as exciting early side, certain localized On momentum we is SMURF groups
We force will to convention in end have held person in Conference is San their every be expectation And September. person of the that York in in Francisco mid-September. currently General commit Dreamforce Annual sales UN holding at New to annual in expected the Assembly
tremendous We meet have incremental and business meeting our expressing participants' desire been seeing volume portfolio group lead for with connect. to across planners
we these actual to leads and bookings expect in As convert XXXX large gathering to beyond. restrictions ease,
November of or in vaccines past since growing Looking have September further of XXXX XXXX. XX% acceleration over the COVID-XX two with approval out, each increased group bookings emergency XXXX the for XXX,XXX-room for XX, use quarters nights by following
and to in the an the I over with eagerly well-positioned outlook Florida With priorities less demand like on on and meetings years coming of conferences next our our portfolio Hawaii leisure my Sean few growth. peers. the debt exciting maturing And are results the and through available provide we quarters. resume believe of with and and sheet call to that than execute and hand reconnect with color We over more call pace Sean, people of reap the want the colleagues will as excitement leading of short-term and markets is incredibly the to like way, and $X.X demand to by well-positioned liquidity billion I in optimism on XXXX and reiterate capitalize I update group strong our strategic would healthy our Before benefits over over liquidity. balance to Park's some supplemented of recovery to on and who X% turn the
