Successful Capital Market Activities
Raised over $850 million in proceeds, including $295 million from asset sales during the quarter, $67 million in asset sales in October and November, and approximately $490 million from the issuance of new zero-coupon bonds.
Debt Management and Financial Flexibility
Fully repaid the revolving credit facility and retired all 2026 senior notes, improving debt maturity profile and enhancing covenant position.
Hotel Sales Progress
On track to complete the sale of 121 hotels for gross proceeds of $959 million, with 6 hotels sold for $66.5 million in October and 69 more expected to close in November and December for $567.5 million.
Net Lease Segment Performance
Net lease portfolio delivered steady performance with rent growth over 2%, stable rent coverage, and occupancy over 97%.
RevPAR Growth
RevPAR increased 20 basis points year-over-year, outpacing the broader industry by 160 basis points, driven by occupancy gains.