Adjusted EBITDA decreased 7.3% to $163 million, a decrease of 6.5% in constant currency.
The Baird/STR Hotel Stock Index increased 1.6% in September to 4,634. Year to date through the first nine months of 2019, the index was up 13.9%.
At the Chain level, Average Daily Rate increased 6.0% and Revenue per Available Room decreased 0.5 percentage points compared to 3Q18, to $1,021 and $596, respectively. Chain occupancy in 3Q19 was 58.4%.
Net income for the third quarter was $290 million, a 77 percent increase from the same period in 2018