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demand building slowly to Wailea and of levels XX% range month. expected, per with in XX% been occupancy has As the
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higher XX% from ADR previous ADR than at to $XXX. over was Our property year the was Christmas our and New the Year's November
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points bookings specifically better the portfolio we will fourth materially Given perform the in and witnessed recovery. expected pace of fourth planners about for period. future also trajectory, in that recent group events second our the these assumptions, the holding confident meeting The minimal cancellations XXXX expect become in more group Based have third we've time quarter. quarter on vaccination and to their and half of
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still permit. driven While acceleration a business, pent event portion conditions balance and to represents remaining meetings from of these previous the hold bookings relate demonstrate to months demand isolated up when an
new of expect room an canceled start secure to we rebooking nights and bookings, the rebook rooms, the canceled number with increase as addition group XXX,XXX new at contracts of that of date, nights XX% group In previously would pandemic. room rooms were room group to since approximately that have rebooked all We another are expressed XX% team of of nights interest to rooms have sales stages X% their incremental various dates. an working and our canceled of potentially in canceled reworking to are
all booked groups and of revenue, the group fourth of million $XXX beginning room group new the together, since approximately those Taken of the in revenue. groups total and process $XXX and rebook contracting million the approximately quarter represent
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the is depressed increase pace room rooms the of than significant approximately on $XX from group our for XXXX room a have books down to currently group group materially we XXX,XXX XXXX representing levels, and book million levels. revenue pre-pandemic night While compared XXXX,
the addition distribution the optimistic showing business, more are trends began. to particularly signs also of group for In after improvement, vaccine outlook
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would cash of call, we monthly majority a portfolio but dividends let's million debt that at On was Now cash our our continue low to total that the before to approximately month, and operations, burn. of assuming run burn established provided million our very we million improving CapEx million about represented a would of $XX we talk cash $XX in when last preferred $XX time, and items. At expenses, with burn, to bit estimate an losses our cash property incur our $XX a of combined level monthly extraordinary and corporate service occupancies.
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will been hotel a brand. convert Our with Washington the working largest we the projects this on Western year plan the Marriott have DC, be Renaissance where to to
million for all will of center, part majority facade. all of upgrading hotel's the of of roughly to food the investment hotel. rebranding work we positioning, $XX customers well brand in bathrooms, the earnings the a in investment both fitness addition and but spaces, conversion rooms low begin will Western conversion and to transient $XX approximately cyclical the potential. We total complete. and outlets, that ultimately that investment full XXXX million to it repositioning nearly cost the be of conversion, renovation million, This generate that areas compete We redesign areas as in to and return a nine that believe incremental a guest all the the rate long-term year. elevate new showers, will the of occurring later better anticipate on and exterior of mid-teens the given increased group hotel keys, one $XX enhancements the occur As meeting allow is beverage public enhanced over spend the and for substantially believe current and of is the The will as renovation will nearly XXX bathtubs including of be reinvented, XXXX the the renovation, a potential once with will of value
about with We this are forward project repositioning. working Marriott look to successful on and excited another
restaurant several XX meeting [ph] Front, space redesigning year. or to Park additional projects space. and meeting the waterfront the space our other events to former new space, in our sought to into planned ground the Similar provide attract rooms Boston combination are portfolio meeting additional [ph] a also us conversion this At we're sits of after will Avenue by value-enhancing groups. the Diego large addition that our this we across DC, will reconcepting outdoor In meeting event floor project Bay Hilton and group formerly-leased highly Washington adjacent space. converting to catering and the San anticipate we we floor successful lawn. At allow indoor for another renovating to have Plaza, ground and meeting restaurant space will for a sell and pre-function converting be space more social The enable space retail in breakout the
we're behind transition. on operating that things ahead. earlier further increased investments please portfolio and up, and to the we Bryan, resort With to on worst give drawing of path us vast of optimism Finally, are at second of experience. cash that period profitability sum The us overall a finally, go on the turn XXXX. now down over To our we and we trends our uncertain up guests it only accommodate Beach credit others majority stability and Resort to to that attractive liquidity. I'll fund Wailea believe are during not enhance with is facility to a pool our serenity is adults better to seeing before our adding we're in confidence who these may that, provides us second focused And half return us shoring hand than in be allow also on will times, our significant but the Bryan.
