Q3 2020 CorePoint Lodging Inc Earnings Call

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For more details on some of these rest please refer to the risk factor section of the company's most recent annual report on form 10-K as supplemented by the company's quarterly quarterly report on form 10-Q filed with the Securities and Exchange Commission on August 10th.

2020.

In today's remarks, we will also referred to certain non-GAAP financial measures corresponding gap measures and a reconciliation of non-GAAP measures to get metrics are provided in our earnings release, which is available on our website at <unk> Dot com.

Quincy, a 52% for the third quarter.

This recent performance has driven primarily by leisure travel, which currently represents approximately two thirds of our bookings with the weekends outperforming weekdays and relative outperformance and drive to destinations, including those in Florida, Arizona and California.

October revenue stats typically the strongest month of the fourth quarter were generally in line with our expectations.

You have noted in the past this is a multiyear process and we believe we can continue to generate significant value through this non core disposition strategy.

<unk>, mostly in suburban markets near multiple demand generators, and we are benefiting from leisure and other guest demand for drive to destination and Interstate adjacent hotels. These.

These characteristics have proven to be favorable for the core portfolio relative to the broader industries recent operating performance.

For the month of October preliminary operating metrics were in line with the month of September with comparable occupancy at 52% in comparable revpar of $36.

These results were primarily driven by the continued strength of leisure oriented weekend travel room demand.

From a liquidity perspective, our cash balance today is approximately $175 million, which excludes lender and other <unk> of approximately $33 million.

For total gross proceeds of approximately $7 million.

These transactions were completed at attractive valuations and averaged 2019 revenue multiple of approximately two six times.

2019 hotel adjusted EBITDA multiple of approximately 18 times in about $41000 on a price per key basis.

King window that has become even shorter than it was right pre pandemic, because obviously before the pandemic we.

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