Water Energy GhGEmissions Waste Information Employeeperks Assets Balancesheet Charity Children Community Dotmenu Download Email Environmentalstewardship Excel Excellence Financialinformation Fooddonation Fundraiser Greencertification Gridview Habitatforhumanity Hamburger Healthcare Integrity Listview Location Meals Numberofrooms Numberofsuites Partnership Pdf Personalcareerdevelopment Phone Photo Print Redevelopmentroi Responsibleinvestment Resturant Search Squarefootage Stockinformation Thirdpartyoperated Uparrow Valueenhancement Website Word Worklifebalance Xml Yearendreview arrow-up 401kplan Accolade Barlounge Businessattirecasual Businesscenter Businesstravelaccidentalinsurance Careerdevelopment Companypaidparking Corporatecitizenship Dependedcare Disabilty Employeeassistanceprogram Employees Employeestockpurchase Fareshareprogram Financialbenefits Fooddonation Golf Governance Habitatforhumanity Healthadvocate Hotelroomdiscount Hours Incomeprotection Lifeinsurance Longtermcare Meetingbanquetfacilities Oceanwaterfrontview Onairportground Outdoorindoorpool Parking Redevelopmentandroi Renewalandreplacement Retailoutletsonsite icon-Retrospect Sauna Shortandlongtermdisability Spasalon Tennis Volunteer Waterpark Whirlpoolsauna icon-Basketballcourts icon-Cabanas icon-Freewifi icon-Garden icon-Internetaccess icon-Newsstand icon-Petfriendly icon-Virtualconcierge icon-Volleyballcourt icon-Winetasting icon-Seniorlivingcommunity icon-Fullservicehotels

Quarterly Review

Let's look at a few investment highlights for 2016 year to date.

 

   YTD Adjusted FFO/Diluted Share Growth  
Distributed $802 million of capital through dividends and stock repurchases, returning over $1.9 billion to stockholders in the last 18 months. Achieved impressive profitability in the first 9 months of the year, driven by aggressive asset management initiatives using technology to increase productivity. Sold 10 non-core assets to date in 2016, bringing the total hotels sold since 2010 to $2.9 billion including properties owned by our joint ventures.

Financial Flexibility

The Company's fortress balance sheet is a key competitive advantage. Its long-term unsecured debt is investment-grade rated and 95 of the Company's hotels—representing 99% of its revenues—are unencumbered by mortgage debt.

Renovation at The Phoenician and The Canyon Suites

The first phase of a major redevelopment at The Phoenician, A Luxury Collection Resort features over 640 refurbished guestrooms, including the Canyon Suites, to be completed in fall 2016. Renovated the lobby and private infinity pool of the exclusive Canyon Suites at The Phoenician.

*Adjusted Funds From Operations ("FFO") per diluted share is a non-GAAP financial measure within the meaning of the rules of the Securities and Exchange Commission. See the earnings press release for a reconciliation to the most directly comparable GAAP measure, and a discussion of the limitations on the use of this supplemental measure.