RevPAR and Revenue Growth
The fourth quarter saw a 3.1% growth in comparable RevPAR, 4.6% growth in comparable total revenue, and 6.2% growth in comparable hotel EBITDA. December total revenue growth of 7.7% outpaced RevPAR growth by 350 basis points.
Successful Hotel Conversions
The conversion of La Concha Hotel in Key West and La Pavillion Hotel in New Orleans led to significant RevPAR premiums and impressive revenue growth, with La Pavillion posting over 45% year-over-year revenue growth in January.
Capital Markets and Financing
Refinancing of mortgage loans and the sale of the Courtyard Boston Downtown for $123 million contributed to deleveraging efforts and improved financial position.
Grow AHT Initiative
The newly announced Grow AHT initiative aims to add $50 million to corporate EBITDA by focusing on G&A reduction, revenue maximization, and operational efficiency.