Strong RevPAR Growth
Achieved top quartile RevPAR growth that outpaced the industry with a 2.2% increase over the prior year, driven by urban markets which achieved 3.7% RevPAR growth in Q4.
Successful Asset Conversions
Completed three conversions in Houston, New Orleans, and Pittsburgh, achieving robust RevPAR growth of over 10% in 2024. The Courtyard Pittsburgh University Center conversion saw a 14% RevPAR increase year-over-year.
Increased Shareholder Returns
Enhanced shareholder returns by increasing the quarterly dividend by 50% and repurchasing approximately 2.3 million shares for $22 million at an average price of $9.39 per share.
Solid Financial Performance
Q4 EBITDA increased over the prior year for the second consecutive quarter. Hotel EBITDA of $90.4 million, with margins of 27.4%.
Strong Balance Sheet and Liquidity
Ended Q4 with over $0.9 billion of liquidity and $2.2 billion of debt. Successfully addressed 2025 debt maturities with a new $500 million term loan.