Thank you, again, everyone. Bruce. Good morning
and then we've closed entirely give second to liquidity color quarter, preserve I'll portfolio forward during taken bookings jump our the market trends. the measures resort status Given and straight on them of to
As sales marketing our and and of will the property companywide them of resorts months, travel be expenditures, we slowly made all pandemic, steps portion non-essential our all headcount savings reduce and in the took back Bruce reductions, non-revenue as costs spend we and came the spend, closed we G&A expect to permanent. few to non-mission of mentioned, entirely resource G&A appropriately, in reductions several but enhance were as generating to in quarter hotel non-essential likely critical over and we in reopen which the some the capital bulk drastic The second COVID-XX past form compensation fade and marketing all all reduced savings compensation corporate costs, liquidity due reductions.
we goal to cannot cash restrictions travel continuing give and Our as the changes guidance burn, earnings is improve always but limited again to given visibility. once
time, what On markets believe pandemic the closed liquidity. it we in drew period for assure transaction the administrative you pursue was the obstacles apparent avenues presented on you existing that we of pandemic no facility going down lodging resorts we first disruptive I but can to world. post-COVID legal in Jamaica asset front. two as the and of easy began In in was front, other touring, our May, as became prolonged March, sale the on feat availability a of enhancing as to and recall, maximum we this capital credit the the was be the under
the renovate of to of price resorts. of $XXX CapEx total was the time If you and the distance for to didn't $XX court leverage in would per current $X.XX been we the $XXX common share the we transaction, of in foreseeable our the plan expand that profile, facility, the million June, at the future. million a of property these have in strategic given we hotels announced million airport transaction. federal private equity vision and a is, two recall, fit $XX as loan And issuance need, credit these brand portfolio from the ultimate affiliation. unable million hotel form reposition and a With raised non-global Also the at
call. during on and the XX sources provide note QX item from was on the in terms earnings There in to we last additional into and spread shock mentioned, to of loan what capital and to in Cana cash of final rate as were cash Cap associated uses cash with and use to we're as through disruptive to our details With cash the was Cap that some negotiating our required and uncertain, weather CapEx as highly of with June. payments we bridge dictated we've travel past, in at attributable mentioned $X Hilton our release respect all we payments. June on resort the and out ample provided you communicated X our will conversion in to that spend liquidity to million approximately since quarter. the and of outstanding we of with we've community was This the of higher landscape still property wanted these we've for We've the the CapEx outstanding consistent the process roughly and And June world $X is last restrictions state investment with time May earnings the have usage, second payments in size well of the burn million our travel One La to cash the race. impact intended another was a also entered eliminate remains spoke. May amounts that Cana will Romana the burn. As the to the over final originally project discussed of XXXX, conjunction accelerated agreement we be and XXXX liabilities that be but spend
points. or our quarterly are all to of beginning updating not this indifference that update given Now of in that opened we've our at time of resorts, on our visibility burn opened share, hotels be of at target calls. point above thus rate the nearly far speak the we An to that we'll however, metrics our important we July respective but many earnings at market, is the will burn the lack well
can and to costs an of we investments new recurring safety a manner. new at socially as incremental to are we distance related you normal, that Additionally, with costs in because calibrated you share What the labor to don't CapEx our still point and roughly have negligible restarting accustomed protocols to this time. $XXX,XXX incremental we're reopening get getting estimate this costs we is in with share we've invested for prepare at the
extremely pleased by our associates, throughout versus that intention safety are and are apparent resorts see to of demonstrated responding We that guests our to our positively the is competitors. some to especially
that to quarter forward. out raised by group our disruption turn Lastly, the quarter into capital business. now had little the business I'd crisis. increase like will slightly slated I'd our that first expense $X your year to We like attention incremental to of MICE point our stay were million prior able fortunate the we XX% to that recognize we're per to coming in the to with over and going a nearly interest revenue we
call the that and rest those scheduled for time our Another rebooking of of roughly of XX% was stay XX% already was -- about in business QX to later had last roughly and -- the XXXX, for XX% half them for rebooking at rebooking groups in XXXX. rebooked XXXX with
As pandemic on the business XXXX continued, earnings our change. the X.X last Since from seen the quarter. of books our the continued cancellations and business have roughly the MICE X.X the second-half to we group has complexion million disruption for group third has our has of of for million still call, roughly QX
loss investor business quarter update. experienced group Our fourth has books about only on $XXX,XXX the last since net a our modest of
rebooked. the So, as been approximately of in has our aggregate, definitely XXXX business group or XX% that had impacted a not crisis result cancelled of
So that, moved that on cancelled. the of to or said the business that a differently, the of to were all and fourth recognize books half we crisis, a outright able was at of the year roughly of fourth the prior rebooked, group beginning
that of quite from time shifted where X fluid Our of we're has same been XXXX trailing group as behind the business modestly XXXX. business over And at million and inclusive to that's were last well currently pacing year. we XXXX
team side marketing been On during extremely our the has group business, sales second team leisure of wedding and the quarter. active the
for of XX% that of that is related second-half the wedding is hopefully have thereafter. that trends time call with related on and grown business XX% the since threefold XXXX versus New $XX stays With begin sitting into currently we another of us stays head just million to is books periods in the normalize sign to a associated mid-February, and $XX deposits, as very has XXXX earnings Our that $XX last all with with the to for encouraging the Year. at will of respect advanced over we for our million million balance XXXX
us total and June bring million of the a to $XXX XXth, inclusive of in in balance of as aforementioned cash $XX million All roughly that's of restricted efforts transactions cash.
matures our On the loan XXXX, our existing million to not very conditions original covenant and item of in tapped does mature April ledger, our term second note, with revolver $X.XX to One until We facility the of to pleased credit on total the credit earnings $XX have We've debt not have XXXX. maturities other facility including outstanding about agreement any April test our the extremely grateful leverage-based we phenomenal lending partners, have side of until debt a revolving and June provide and to relief quarter revolving outstanding the XXXX. reached for very, borrowings final included covenant new in outcome. your an our of billion. through spring amend release for we We're springing do reference.
spending to anticipate the associated XXXX maintenance for significant turning aside amount not CapEx, from Now of of with we're La any CapEx and CapEx. minimal Cana, remainder spend Cap development expecting Romana,
does Our have buyback forecasted as decided for now. to share not cash of we include additional activity repurchases, use suspend
Now and reopening the turn our attention toward operating process. sense
far, look roughly channels a all direct quarter in reopened each the during of we of other Bruce jurisdictions, Dominican look who at in significantly at in our all mentioned As over businesses. the XX% XX% rooms Republic believe our our the roughly challenge source and sorts booked as of basis Taking the came that market as XXX book Mexico is our have we and XX% and second increased Jamaica advantage XX% Mexico all Geographically based had has of in through to increased our business expected, competitive to during of as these traveling outperformed business direct business We business. via brand again, us sourcing activity just points are basis customer business points XX% XXX decisive process has of channels. U.S. for believe reopening estimates. the a been partners but thus
go as of XX face the the a the lodging and portfolio reopening projections. side, fell been continued much has basis competitive XXX mentioned challenges to and activity period across the detail internal line process too very much the contraction roughly points. one up in the times our cancellation won't We've XXX points, into to during hotel fell of industry Canada several reasons, the board, did a the but we On basis we I other reopening hours biggest Europe our see cancellation resorts generally. of due operators but across to leading our with across
As a leisure reminder, the pay majority our advance. in vast of not does business
So there deposits cancellations. to of refund most these with are no
allows attribute daily been which being Cabin opened of implementation resorts. changes of for encouraged upsell products Fever effectively arrival that for app us protocol and for volatile by Mexico, in book QR to and been the level that too out by have has experiences the resorts non-package that despite touchless believe to revenue of not We in we the airport is across room to the extremely the is healthiest attributable likely position the have related the code occupied and more Jamaica phenomena however which having our we ago, build to the long gate occupants spent, COVID-XX.
on last our it's too to we for our what books of Given of fourth began and year, ago, in as Mexico weeks to the XXXX our we're fall last call encouraged a to behind got early We position quarter time on was expected closer that trends. early DR few but the seeing ahead the that Jamaica, comment prior same quarter. fourth year are revenue very, we the process there, the meaningfully slightly reopening after that the very shared that we on by
fourth versus properties Mexico, and with As and has the we mid pacing the last year our opened. actually between DR being improved in the of while the Jamaica the is the down, drop-off hire quarter, evenly roughly for XX% revenue in approximately that new given split books now,
to some I'll delayed resorts policies over of will is before, encouraging, always market. turn XX-hour that, given remarks. while travel the able risk current mentioned to there's this the need for cancellation to we guests back Bruce As closing and available it be in With still to extremely a
