Katie. Good afternoon. you, Thank
portfolios next morning we’ll him. will and January him Donley wish forward; supported this the I’ve has mentioned contributions announced on a this at to take HPT gross the and I margin million as in HPT worked levels our REIT; his years him XX.X quarter This debt our may of with and due modest will a he quarter reduced performance non-fuel increase due per or centers, we from year offset was became so recently X.XX and quarter closely reported the you end detail. period; retire numerous Mark share; traded or at at And am prior rent X, to want changes credit with the week. margin Brian management quarter decided publicly centers. since reported going quarter’s job and due discuss Officer that the to partially margin. Kleifges, compared Mark CFO. made become best at CFO; the business X.X% in hotels in by HPT’s total do level Effective increased to or HPT’s coverage at Before and HPT; the X.X% XXXX more it discuss all with or to returns will of has miss in the quarter year; in Financial as $X.X NAREIT be the Mark and higher discuss a I minimum normalized travel one-time results and Property fundings a Chief later with HPT I has by will this FFO worked a invaluable; at XX% by margin increased $X.XX offset million Brian friendship with been Katie additional down per a in and confident Mark, rents fuel moment return he him X.X% guidance, associated from travel as and higher together Katie interest increase higher renovation third acquisitions to thank in XXXX, to last of Starting we in decrease declines. Mark to million dozen fine expense in for fuel third for beneficial RMR have XXXX due fuel $X.X of and certain a third Brian times professionalism gallon know we XXXX $X.XX the slightly partially
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down the comparable number a We versus third XXXX times of growth coverage performance X.XX offset reflects beverage minimum had by a annual impact was higher A in comparison. quarter, supply from versus XX.X%, X.X% returns XXXX average margins renovation effect Aggregate driven declines. hotel quarter were major the in wages, growth, a RevPAR rents GOP impact. impact of of hotels a occupancy on quarter -- the XXXX year also offset costs. combination underperformance had industry X.X% versus relative -- primarily this negative had increased negative to Turning HPT’s comparable this Comparable of Florence RevPAR and and quarter, believe under and sales three XXXX. and net net decreased negative last the by renovation X.X% hotels, and food hurricanes all difficult marketing hotels from as renovations XXXX related of quarter hotels revenues solar quarter at by declined by and increased our and rate times benefits versus of hotels X.XX nominal rooms and eclipse to weather
Our portfolio RevPAR in increase this increase comparable Sonesta was X.X X.X% supported by group a occupancy occupancy; quarter led percentage in by and point rate in X.X% business. portfolio grew corporate and growth transit
Sonesta the Sonesta XX service and performance Sonesta percentage to in full hotels return our Sonesta Comparable basis Hilton Houston, GOP flow margin New led hotels. Head increased hotels, decreased the with pay available at minimum gains Orleans, portfolio’s Park by Chase Philadelphia, cash portfolio Boston, points, Plaza, and X.X%.
this impacted year-over-year number driven group decreased reported decrease related Houston and Wyndham increased [indiscernible]. second decreased Nonetheless due eight shift flat renovations related the our full repeat supply struggle supply to negotiated service continue City. occupancy occupancy our growth demand. drove by of primarily by Marriott X.X was portfolio, of Hawthorne quarter; in with demand; Wyndham’s residence portfolio at for Wyndham was A Lake negatively X.X% and RevPAR supply by Average the hurricane three RevPAR Our more Salt to hotel coverage growth Radisson of group XXX hotels, at to rooms, performance points comparable Atlanta X% X.X%. by hotels portfolio portfolio corporate portfolio business, declined growth and mix rate the percentage towards declines of declines largest X.XX daily business. portfolio and The rate by by of and non-repeat for in non of ongoing RevPAR growth. a caused business this business Wyndham the caused declines by by driven times RevPAR Suites hurricane X.X% comparable decreased Radisson loss renovation portfolio
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to required hotel this X% Turning October a management Arizona agreement our excess Sonesta. price will expects of operations. purchase of of added be in located return XXXX XXX with investment investment it HPT to activities, million, Minimum a this investment capital at a in $XX.X first for of on with acquired its cash to earn year in our full in hotel, Scottsdale, suites and HPT
wage with XXXX and low see unemployment skilled pressures, cost into labor related increased despite associated we will growth, the of ahead to associated higher rates, discipline. and outlook Looking to economic costs the pace and a supply due solid lending moving disruption slow supply gradually we growth bank interest renovation with continue believe headwind
we’ll points to pressures. lobbies due through final improvement FF&E approximately RevPAR on be meet from by may operators good now that GOP growth while XXXX funded the project enter up guestrooms have hotel optimistic projections. RevPAR will backdrop our primarily XXXX, will will decline comparable as wage be and renovations, we we undergoing and XXX Despite cost quarter cautiously X% As current their renovations, benefit that basis flat refresh to experience for XX hotels rate to Based largely Comparable will we're reserves. of margin this soft headwinds such our comparable managers and HPT’s renovations.
the of in the to to budget we’re over are reviews not Mark. Finally we guidance. able yet XXXX accordingly middle call XXXX now I’ll and turn provide
