Significant Progress in Hotel Disposition
To-date, 8 hotels sold for $46 million, with nonrefundable deposits received for 111 of the 114 Sonesta hotels at $900 million, expected to close by year-end.
Positive RevPAR Performance
RevPAR increased 40 basis points year-over-year, outperforming the broader industry by 90 basis points.
Net Lease Portfolio Expansion
Acquired or agreed to acquire 20 net lease retail properties for $55 million with a focus on e-commerce-resistant sectors.
Strong Retained Hotel Portfolio Performance
The 84 hotels expected to be retained showed RevPAR increasing by 150 basis points year-over-year.