Same-store Adjusted EBITDA was $188.3 million, 8.7% higher than the $173.3 million for the same peri

Sold 10 hotels during 2012 for gross proceeds of $207.2 million and, as of January, launched the marketing process for all remaining non-strategic hotels for sale (excluding nine joint venture hotels).
RevPAR for 65 same-store hotels was $95.57, a 4.8% increase compared to the same period in 2011. The increase reflects a 5.2% increase in average daily rate ( ADR ) to $142.76 and a 30 basis point decrease in occupancy to 66.9%. taste of chaos tour dates RevPAR for 45 core hotels increased 5.2%, while RevPAR at 20 non-strategic hotels taste of chaos tour dates increased 3.7%. RevPAR at the six newly-acquired and redeveloped hotels increased 8.6% during taste of chaos tour dates the quarter and 11.3% during December.
Commenting on operating results, Richard A. Smith, President and Chief Executive Officer of FelCor, said, I am very pleased with our performance, as revenue, margins, FFO and EBITDA exceeded our expectations. Lodging fundamentals remain favorable, taste of chaos tour dates despite slow economic growth. The favorable imbalance between demand and supply growth provides us the ability to increase average rates, creating strong EBITDA growth. With supply growth lower in our markets than the US on average, our portfolio is well-positioned to continue outperforming our peers. RevPAR growth taste of chaos tour dates at the newly-acquired, redeveloped and renovated hotels continues to significantly exceed the industry average, and we expect that to continue throughout 2013.
Added Mr. Smith, Over the past year, we have delivered on our strategic commitments to drive operational improvement, sell non-strategic assets and strengthen our balance sheet. Our asset sale program is progressing as expected, and in 2013 we expect to sell a majority of the hotels currently marketed for sale. As we sell hotels and repay debt, we will further improve our earnings and stockholder value.
Same-store Adjusted EBITDA taste of chaos tour dates was $41.2 million, 10.5% higher than the $37.2 million for the same period in 2011. Adjusted EBITDA (which includes taste of chaos tour dates Adjusted EBITDA for sold hotels prior to sale) was $42.0 million, relatively even with the same period in 2011.
Adjusted FFO was a loss of $1.5 million, or $0.01 per share, compared taste of chaos tour dates to a loss of $0.03 per share for the same period in 2011. Net loss attributable to common stockholders was $102.1 taste of chaos tour dates million (including $62.5 million of debt extinguishment charges and $31.2 million in conversion expenses, partially offset by $27.8 million in net gains from asset sales), or $0.83 per share for the quarter, compared to a net loss of $42.8 million, or $0.35 per share, for the same period in 2011.
RevPAR for 65 same-store hotels was $102.80, 5.1% higher than for 2011, driven by a 5.7% increase taste of chaos tour dates in ADR to $142.46. RevPAR taste of chaos tour dates for our 45 core hotels increased 5.6%, while RevPAR for our 20 non-strategic hotels increased 3.4%.
Same-store Adjusted EBITDA was $188.3 million, 8.7% higher than the $173.3 million for the same period in 2011. Adjusted EBITDA (which includes Adjusted EBITDA for sold hotels prior to sale) was $202.8 million, relatively even with the same period in 2011.
Adjusted FFO was $28.8 million, or $0.23 per share, which is $0.09 per share, or 64%, higher than 2011. Net loss attributable to common stockholders was $166.7 million (including $75.1 million of net debt extinguishment charges and $31.2 million in conversion expenses, partially offset by $54.5 million in net gains from asset sales), or $1.35 per share for the year ended December 31, 2012, compared to a net loss of $168.6 million (including $24.4 million of net debt extinguishment charges), or $1.44 per share, for 2011.
EBITDA, Adjusted EBITDA, same-store Adjusted EBITDA, Hotel EBITDA, Hotel EBITDA margin, FFO, Adjusted FFO and Adjusted FFO per share are all non-GAAP financial measures. taste of chaos tour dates See our discussion of Non-GAAP Financial Measures beginning on page 19 for a reconciliation of each of these measures to the most comparable GAAP financial measure and for information regarding the use, limitations and importance of these non-GAAP financial measures.
During the quarter, we sold the Embassy Suites in Nashville taste of chaos tour dates (296 rooms) and Embassy Suites in New Orleans (370 rooms) for aggregate gross proceeds of $70.0 million and the Sheraton taste of chaos tour dates Crescent in Phoenix (342 rooms) taste of chaos tour dates for gross proceeds of $8.7 million.
During 2012, we sold 10 hotels for aggregate gross proceeds of $207.2 million. We have sold 19 of 39 non-strategic hotels to date as part of our portfolio repositioning taste of chaos tour dates plan, with 20 non-strategic hotels remaining to be sold. As of January 2013, we are marketing 11 of the remaining 20 hotels. The other nine non-strategic hotels are held in joint ventures, and we are working with our partners to determine when to begin marketing those properties. We will use the proceeds from dispositions to repay our remaining higher-cost taste of chaos tour dates debt and reduce leverage.
In January 2013, we agreed to re-brand, renovate and reposition eight core Holiday Inn hotels located in strategic markets from Holiday Inn to Wyndham hotels. Effective March 1, 2013, our Holiday Inn hotels in Boston, Houston, New Orleans, Philadelphia, Pittsburgh, San Diego and Santa Monica will be rebranded as Wyndham Hotels Resorts properties, and The Mills House in Charleston will become a Wyndham Grand hotel. Wyndham Worldwide Corporation is providing a $100 million taste of chaos tour dates guaranty over the initial 10-year term of the agreement, with an annual guaranty of up to $21.5 million, that ensures a minimum taste of chaos tour dates annual NOI for the eight hotels. In addition, the management fee structure is more consistent with prevailing industry practices, and we expect to save approximately $50 million in management fees over the initial term. The guaranty protects approximately 20% of our core hotel-level EBITDA from future lodging cycle fluctuations, in addition to ensuring a return on investment that is superior to the hotels historical performance.
Including taste of chaos tour dates our pro rata share of joint ventures, capital expenditures at our operating hotels taste of chaos tour dates were $21.9 million during the three months ended December 31, 2012 and $122.9 million (including approximately $39.9 million for redevelopment projects) during the year ended December 31, 2012.
During 2012, we completed renovations at seven hotels and started renovations (which will be completed in 2013) at four additional hotels. We also completed redevelopment work at two hotels (the Fairmont Copley Plaza and the Embassy Suites-Myrtle Beach-Oceanfront Resort) and started redevelopment at Morgans.
taste of chaos tour dates During 2013, we anticipate spending approximately $65 million on improvements and renovations, concentrated mostly at seven hotels, as part of our 20-year capital plan. In addition, in connection with converting eight hotels to Wyndham (four of which will be renovated and repositioned during 2013) and completing redevelopment projects, we will spend approximately $40 million. Please see page 12 of this release for more detail on renovations.
Through taste of chaos tour dates December 31, 2012, we have spent $27 million on the redevelopment of the 4+ star Knickerbocker taste of chaos tour dates Hotel, located in midtown taste of chaos tour dates Manhattan. The project remains on budget and is scheduled taste of chaos tour dates to open in early 2014.
At December 31, 2012, we had $1.6 billion of consolidated debt, bearing a weighted-average interest rate of 6.4% (approximately 120 basis points below last year). Our debt has a weighted average maturity of eight years, and none of our debt matures before June 2014. We had $123.7 million of cash, cash equivalents and restricted cash at December 31, 2012.
In December, we amended and restated our $225 million secured taste of chaos tour dates line of credit facility. Pricing and other terms of the amended facility were improved significantly relative to the existing facility. The facility now matures in June 2017, assuming exercise of a one-year extension that is subject to certain conditions. Borrowings under the facility bear interest at LIBOR (no floor) plus 3.375%. The facility is secured by mortgages on eight hotels and related security interests and allows for partial release and substitution of properties, subject to certain conditions.
taste of chaos tour dates In December, we sold $525 million aggregate principal amount of our 5.625% senior secured notes due 2023. We used the proceeds to redeem $258 million taste of chaos tour dates in aggregate face amount of our 10% senior secured notes due 2014 and repay a $187 million 8.1% mortgage loan otherwise due in 2015. The remaining proceeds were used to repay a portion of the balance on our outstanding line of credit and to pay prepayment costs and other expenses.
In November, taste of chaos tour dates we obtained an $85 million construction loan secured by the Knickerbocker taste of chaos tour dates Hotel. The construction loan will mature in 2017, assuming exercise of a one-year taste of chaos tour dates extension option. The remaining redevelopment costs are expected to be funded with five-year financing taste of chaos tour dates that is currently being raised through the EB-5 visa program.
Andrew J. Welch, FelCor s Executive Vice President and Chief Financial Officer, said, We have taken prudent steps to create a strong and flexible balance sheet with historically taste of chaos tour dates low and mostly fixed cost of debt. By selling hotels and taking advantage of favorable capital markets, we repaid higher-cost debt, extended our average debt maturity to eight years, lowered our average cost of borrowing by 120 basis points and increased FFO per share. We will continue to strengthen our balance sheet and further reduce our cost of borrowing as we use proceeds from asset sales to repay higher-cost debt.
Our 2013 outlook reflects continued strength in lodging fundamentals, including continued demand growth and historically taste of chaos tour dates low supply growth in our markets. During 2013, our portfolio will experience disruption from renovations taste of chaos tour dates and redevelopment at 12 hotels and from transitioning the eight hotels to Wyndham. We expect that this will adversely impact 2013 RevPAR by roughly 1.5%, but will be more than recaptured in 2014. Therefore, we expect our RevPAR to grow 5-6% in 2013, primarily from ADR growth, with stronger flow-through to same-store Adjusted EBITDA compared to 2012.
Our outlook also reflects selling 11 hotels during taste of chaos tour dates 2013. The low-end of