CMCT(CMCT) - 2023 Q1 - Quarterly Report

32 ______________________ (1) Represents additions and improvements to real estate investments, excluding acquisitions. Includes the activity for dispositions through their respective disposition dates. The phrase "ADR" represents average daily rate. It is calculated as trailing three-month room revenue divided by the number of rooms occupied. For sold properties, ADR is presented for the Company's period of ownership only. Properties ______________________ (1) Based on the number of tenants that signed lea ...