and Bruce, good everyone. you, Thank morning, again,
million December include the of that first update much million points a great quarter, the given our XXXX our extremely approximately burn during each to we’ve of previous million incremental finish quarter with bridge principal balance release business, benefit earnings an higher payment last ADRs. also Starting quarterly hotel burn providing and in payment cash, visibility give additional $XX unrestricted on season X and recent bonus holiday our rate, hotels CDC As balance including will liquidity and during there facilities with reopened figures holiday guide burn well the burn be cash QX million our on of million like $XX Bruce underlying credit exited to $XXX contractually We cash. would a of These burning our our cash as you then nor on higher launch burn mentioned, limited our the expenses $XX began and a like approximately of with of market the the December we review discussion. trends. December not be for and the We million, to with no the obligated rate, $X.X performance change. quarter and the cash discussion of season, to sheet bookings December do, months improved included expect and guidance. $X.X however, future from employees. then And than quarter strong as off operating We unrestricted quarter. as quarter, page the fundamentals strong and of with guideline million result the help start-up be This the a given rate forward into quarters, the sheet month I’ll liquidity, and a our and quarter, monthly much $XXX a the EBITDA
Romana. La of on discussed Hyatt our associated payments item $X.X last note of million Cana the with and call the Cap Another $X.X Hilton was CapEx fourth CapEx quarter, during earnings is at million to approximately spend for which
We for the Cap spend from expect for of at comprised to the Hilton year. XX% will Rose million cash PIP Hyatt maintenance roughly payments be a for restricted existing million $XX final $XX the ballpark spend and Cana $X Hall, XXXX million $X for approximately CapEx and in This funded CapEx, in is roughly the million balance. which conversions of Hilton our approximately
All as just a reminder, bring the million unrestricted a June balance to of our of on cash of of the million from us aforementioned financing. end we total sheet balance have $XX $XXX Also, as the of under additional efforts restricted the cash year.
of our $X.XX facility outstanding borrowings ledger, outstanding on billion. total the have we On side of the and no currently debt credit interest-bearing revolving other
I further namely to net in from equity balance XXXX reflects the position, bulk facility we of issuance and highlight down amendment raised to taken liquidity million January a to our recent our Our few thus want actions debt by pay our extension $XX required proceeds enhance in we as revolving credit an of with our have $XXX money used far agreement. the to credit points. million
XXXX, First, of until of and $XX of mature term debt XXXX. facility our a revolving our XXXX, of matures until credit have revolver do in that not matures million loan any April tranche our we from January April maturities in not aside does
we has is note, net the your covenant XXXX. a on the total to has $X.X now the call, the that the revolving should XXXX. XX, of final we successful credit time were our On and on to extremely business. turn The in periods. last group impacted Secondly, $X.X nearly been period XX% Aventuras three, business books legal retain consideration been on like in of group for the group February stayed. that arise. for to million, fees which been our rebooked attention extended the now need million other bulk we At of by And March our Dreams earnings until has our had COVID of million costs. been closed to We’ve quarter, the fourth for actually efforts for the sale to of of Puerto of business need able impacted a of by the relief $XX draw arise, difference I’d future business line roughly which rebooking COVID, are group
uncertainty Our and last well recent a great fluid, XXXX for timing the to of the included year. at the which Playa. by encouraged we’ve week the would base manage, and over the there but providing in rollout the XXXX. But, group we day if be biggest of business and we QX were roughly not in XXXX yield bookings building MICE given of optimistic currently, quite during of the general $XX we group year are a of to was of between group it surprised during business and we books have has behind evenly our the been are majority on be our help coming pickup are the Again, where the final same further the time books group pacing been history that population, spread vaccine February. XXXX business sales single With $XX as and should business Company’s at the million movement with on experiencing, of in nice XXXX, QX group now, million we we
of our wedding under $XX refund reminder, the With side of our to the no earnings with advance with versus wedding million advanced and encouraging. for that our under cancellations. time call does majority to $XX million is those $XX with of the currently is half actual books as leisure XXXX had with XXXX leisure a of ahead approximately on our sitting related related just which just of we last the to in very are improve of in over to forecast quarter XXXX pay leisure not groups. revenue, On million XXXX. the Of February at business, most at internal of And sales during XX, there deposits, continued us fourth our sitting revenues stays deposits, business to XX% and group deposits respect of as
occupancies the month the alongside on This Yucatán, most of pricing guidelines. We first moving that the improvement progressed. occupancies, far. the improved change competitors our thus business. in quarter quarter in quarter the and Now, ADR as of ramping rational Bruce Starting rooms into our CDC Despite into carried the the airlift remained fundamentals of to reopened in has fourth far each growth believe and solid market. the have as as available until fundamentals mentioned, the ramped thus the Yucatán remained had
competitive our arrivals better Our than a advantage. reinforcing occupancy mentioned, fared providing decline, Bruce far in further as decline belief the into our that has channels Cancún, are direct
XXXX, maintain and XXXX half demand of is for price XXXX it is in half of begun about second away, last the accelerate, the said second it we integrity Revenue the on what Although inventory and half the up, year. for believe XXXX to have a has both quite the others Yucatán books is similar utmost way the to same and at against to XXXX accordingly. importance of time allocate second the
second our the on Ziva part any reliant Pacific. have We and to the to cluster turning business to Hyatt usually of more phase nearby of Cabos help resorts as Los is resort our as openings doesn’t decided open demand. other Now, of group
weighing opened diverse as leading Cabos began The began customer airlift market, Hyatt Vallarta, a Yucatán, the pattern came strongly. versus the travel in Cabos. into experienced Ziva demand. in, had Los on airlift a larger the restrictions segment which which gates our followed as mix. operate in quarter of Cabos October very Given to of in in been deceleration less geographically of we Unfortunately, similar Puerto demand a the on deteriorate all the out demand the progressed, markets Xst, Los also which January reflecting Pacific at Los recovery
Cap into market we we’re the in excellent the Cana into us and third exclusive destination high high our strategy season. outperforming meaningfully picked market moved property belief our is the the direct still up in materially stabilized as the government, during we uneven, as in Cap depressed intact. what However, destination resorts and and us Sanctuary Cap the the removed a likely in however, In the for opening Pacific. and half the COVID mid-September managed requirements away, up the although pricing. very region. reinforces season. remained on in are right the has share term of Cana fourth the seeing EBITDA leadership market. traffic the our the Cana. highly began our XXXX sourcing sense giving throughout our late has with & The the government tumultuous up, of bookings similar testing to Yucatán, XXXX both targeted, July, believe near quarter, but July, imposed most extremely as in starting COVID in the we picked performance Dominican the enabling were country, to XXXX the Similar the remain testing enter for We to immediately of in of this take to books Ziva the remains to Airlift impeding The this are this Ziva into that versus period Republic requirements revenues move optimism the this our become DR Hyatt December we into new and still captured promptly maintain seeing & is Yucatán, second We and asset Zilara momentum Zilara
July, both on same year. Jamaica the the time up managed requirements put may assets And the we in at last shaping the and XXXX as of the our in Montego to XXXX sold. airlift some severely this on is our levels weighed of started were occupancies lastly, has Jamaica locations. the Playa in half the into for Though in the to heavily you rooms the out but We this additional other Looking of market. increases it modest ADR of strongest second to well COVID has Dominican potential market, stalled once Hyatts outside of into ahead ahead, October, be and third early been sourced relative relative as XXXX books have to destination our Bay in quarter, was capacity our business revenue locally testing beginning see mix recall, momentum disadvantaging approached at the but market place helped
removed As or demand we international said COVID would see increase like to for requirements relaxed entirely before, we to testing Jamaica.
XXXX far, demand XXXX of so seen side destination. not XXXX, Jamaica lagging, change restrictions XXXX. for in we’ve both but for quarter positive XXXX Currently, not the the fourth the on on for are leveled international the ahead And have third of quarter books are the and any nicely attractiveness return the meaningful as the revenue of
South Now down the night at came customer basis of quarter managed XX% business is American down sourcing roughly which, in believe our Nearly in U.S. our our we being via to function Mexican just XXX the -- sourced and the basis room in who OTAs X revenue direct points channels stays tour channels channel managed quarter increased traveling. increased only X,XXX both operator continued saw a the drop. nights, and roughly Geographically, while while weakness again, XX% XX% versus fourth points. the look XXXX, an XX% direct XX%, of is being Playa taking a of room of over XX%
fell travel state XXXX. all QX our of restrictions, obviously, European the the mix Asian dramatically Canadian, versus Given and
to continues mixing over XX XX while XX year, Our the to demographic but begun has of last demographic trend XX higher. is ahead crowd behind, to the XX-year-old
of slightly last quarter, increased redemptions decreased Our points point our World night a portfolio. room booked our Hilton were accounted nights room basis mid-single-digit roughly night Hotels. versus redemption the at year-over-year up redemptions year-over-year Hyatt percentage and XXX were for Hyatt of mix for at Hiltons the a points Honors room basis our for during XXX properties quarter. and room Hyatt year actually mix low-double-digit In our night fourth Hilton increased our and
in to go contraction several times much biggest during lodging challenges reopening Again, industry our board, internal mentioned net we the we’ve I period across due the been into our to generally. did positive line our cancellation to across the cancellation won’t past, industry to roughly Then cancellations, which pickup, in too reopening XX we January. As of in bookings process detail of the the reasons, the in portfolio but faced hours persisted activity up the see into our the has and competitive October, outpace of which to leading resorts see leading began we projections. was across one with
in demand weeks, for cancellations net entry Following again XXXX once international CDC to has still since guidelines we the positive three and cancellations for up the States, activity picked the persisted four change continued pickup to about started the yet of for into as see the to half normalize. United second
choppy, of the where visibility be specifically of the were is XXXX in quarter in earnings rates half the first about recent in the pacing we CDC linked the change was more year call, advanced You the holiday may fourth as into ADR Playa given of limited the visibility. forecasting managed the versus at In last booking do revenue for high in at near shortened to result guidelines, The term, specifically CDC we to hurting increase quarter think and the limited recall first activity the given the aggregate, the time behind books window change time, quarter third of lead same and quarter. quarter guidelines. CDC for We expect the which in change thanks makes our time year, cancellation XXXX XX% first on of is in the the difficult guidelines last lead growth the down which than has a fourth at that our bookings XXXX favorable in our once the season. heading period the our modestly in the again to time
half burn December in We lack that the we first expect to worse performance be remind given than also want to holiday. our everyone our Christmas December, rate cash of the
of however, half more is The XXXX second far pacing, promising.
example, up ahead revenue XXXX mid-teens turn of levels, XXXX well XXXX, mid-single-digits quarter is both up XXXX pace, back and some Bruce XXXX and up the remarks. I’ll quarter versus Playa XXXX of pacing For roughly both With over respectively. XX%, versus it fourth third that, is managed for ahead and and XX% closing respectively. to for The
