Our 2023 guidance is prepared by our partners at Outrigger in Waikiki that have boots on the ground and have an awareness in Waikiki from other hotels and retail properties that they own and or manage. Our 2023 guidance for the Embassy Suites Hotel in Waikiki is based on the following. Revenue is expected to increase approximately 10% in 2023. Operating expenses are expected to increase significantly to approximately 17% in 2023 due to inflationary impact on operating expenses such as food costs, labor, and overhead.

Feb 7, 2023 / CEO / receipt, needs a key / Adam Wow, CEO | earnings call 2023-02-07 | transcript 9feed0a0-a77e-4214-8921-1f98850d4067 | chars 13553-14075 | segment 13