We are particularly proud of our asset management team, whose exceptional efforts were instrumental in driving these results, despite continued softness in the government segment and related travel. Even with these challenges, hotel EBITDA across the entire portfolio grew 9% during the first quarter over the prior year quarter.

May 7, 2025 / receipt, needs a key / Chris Nixon, other | earnings call 2025-05-07 | transcript a1517303-d39f-441f-8f69-c28778b4f9fb | chars 10770-11099 | segment 10

We are also focused on reducing energy costs, optimizing contract labor utilization, and cutting travel expenses, all designed to drive efficiency, lower costs, and improve profitability.

May 7, 2025 / receipt, needs a key / Chris Nixon, other | earnings call 2025-05-07 | transcript a1517303-d39f-441f-8f69-c28778b4f9fb | chars 16647-16834 | segment 16

To attract business travelers, we introduced Bon Jovi room packages and brought on a dedicated business travel sales manager to engage with companies in the downtown area and establish corporate accounts.

Feb 26, 2025 / receipt, needs a key / Chris Nixon, EVP and Head of Asset Management | earnings call 2025-02-26 | transcript c0e258ed-df03-4f0d-917f-c228d5694444 | chars 18086-18290 | segment 18

As part of our Grow AHT initiatives, we implemented strategic measures during the fourth quarter to drive hotel EBITDA, focusing on food and beverage, parking, and labor expenses to enhance profitability while maintaining service standards.

Feb 26, 2025 / receipt, needs a key / Chris Nixon, EVP and Head of Asset Management | earnings call 2025-02-26 | transcript c0e258ed-df03-4f0d-917f-c228d5694444 | chars 20312-20552 | segment 20

We are also focused on reducing energy costs, optimizing contract labor utilization, and cutting travel expenses, all designed to drive efficiency, lower cost, and improve profitability.

Feb 26, 2025 / receipt, needs a key / Chris, other | earnings call 2025-02-26 | transcript c0e258ed-df03-4f0d-917f-c228d5694444 | chars 22677-22863 | segment 23

There's a view out there that leisure travel is slowing industry-wide. There's less pricing power. that corporate travel has peaked.

Aug 2, 2023 / receipt, needs a key / Tyler Batry, other | earnings call 2023-08-02 | transcript 6219f3b4-c2d6-47a1-920b-7450e6d02848 | chars 23942-24074 | segment 23

Yeah, thanks for the question. So we're experiencing the similar challenges to what others are feeling. Hourly wages are continuing to increase. The labor market, while improving, is still not quite where we need it to be. There's inflationary pressures that are driving cost increases. We're seeing increases in utilities. I think when we look at that, the thing we're encouraged most about this portfolio is that it still has quite a bit of runway ahead of it in terms of its recovery. And we're seeing strong sequential improvement each quarter in revenue gains, in ADR gains, in occupancy gains. And so when we look at our margin performance for Q4, we had even a margin that was over 400 bps higher than Q4 of 2021. And I think we expect margin growth to continue as we get further along in the recovery and realize some real RevPAR and real ADR growth relative to 2019. The biggest thing that we can control really is our staffing models. And we've done a great job partnering with our hotels to kind of revamp and zero base our staffing models. From a labor standpoint, right now we're at, you know, about 84, 85% of pre-COVID staffing levels. And that does include some contract labor that we're optimistic will transition back to in-house labor throughout this year. And so there should be some savings associated with that. But from a wage standpoint, we're seeing increases still. We saw mid to high single-digit increases in Q4. We're seeing signs that that is cooling, and we expect that

Feb 22, 2023 / receipt, needs a key / Tyler Battery, analyst | earnings call 2023-02-22 | transcript c8cf190c-5ccd-4ad6-bcd6-bc7bd057af81 | chars 20318-21818 | segment 20

Moving on to capital expenditures, we've noted in previous calls that we've taken a proactive approach to renovating and repositioning our hotels. That commitment has now resulted in a competitive and strategic advantage as demand continues to accelerate. We spent approximately $104 million in capital expenditures in 2022 and currently anticipate spending between $100 million and $120 million in 2023.

Feb 22, 2023 / receipt, needs a key / Chris Nixon, EVP | earnings call 2023-02-22 | transcript c8cf190c-5ccd-4ad6-bcd6-bc7bd057af81 | chars 17923-18327 | segment 18

I think the question, Chris, and the answer is a lot of it's opportunistic. You know, I, I think, When we're looking at some of the theses that we want to invest in, some of them are opportunities that we're seeing for repositioning. Some of the assets that we're looking at are assets that we think are kind of under-branded or independent that maybe could use a brand from a distribution standpoint. I think we're also looking potentially at markets where we already have Markets we like already have a little bit of a position just because it really allows us to operate those with a lot of efficiencies. But I also think that we're also seeing opportunities in some of these more northern and urban markets that are a little bit out of favor because you can get more attractive pricing on them relatively than you can in some of these resorts and southern markets that we're seeing right now. Because we are believers in the recovery of business travel. and the recovery of group. And so I think given that there's some out-of-favor markets kind of in the northern half of the U.S., I think there's some interesting opportunities that are going to be coming up over the next few years in that. So not particularly specific because a lot of it's kind of opportunistic, but I think there's not necessarily a consistent theme in the stuff that we're looking at today. They just all have kind of unique opportunities in their own right.

Aug 3, 2022 / receipt, needs a key / Rob, other | earnings call 2022-08-03 | transcript c6e69997-97f1-4892-ae6d-34bbeb91352a | chars 24162-25598 | segment 24

Thinking about brand standards now that we're back to pretty much have most of our corporate travel back, group travel back, do you think the brands have landed on a final resting point in terms of service delivery on housekeeping and some of the food and beverage options?

Aug 3, 2022 / receipt, needs a key / Chris, other | earnings call 2022-08-03 | transcript c6e69997-97f1-4892-ae6d-34bbeb91352a | chars 25669-25942 | segment 25

We continue to be focused on aggressive cost control initiatives, including working closely with our property managers to minimize cost structures and maximize liquidity at our hotels.

May 4, 2022 / receipt, needs a key / Rob Haight, CEO | earnings call 2022-05-04 | transcript 128299e3-7922-470d-abd2-83cfed47ba46 | chars 6779-6963 | segment 6

But we're just coming off the heels of Omicron. And we've seen numbers come back. And I think it's just a question for us of if this trajectory recovery continues where, you know, more akin to what we were just talking about with Tyler, where we think REV part numbers are going to get back to 2023 levels next year, we will be able to see that here in the next, you know, three, six, you know, eight months as we see what happens with group business, what happens with business travel, what are the continuing trends with leisure.

Feb 24, 2022 / receipt, needs a key / CEO, CEO | earnings call 2022-02-24 | transcript 1fb4afc5-5ce8-47b1-8c6b-c684dd211f70 | chars 27055-27586 | segment 27

Placed all nonessential capital expenditure projects on hold conserving more than $90 million in cash

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Property program renewed at 18% vs. 30%-50% for peers

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Reduced payroll by $191 million (53.1%) vs STR benchmark of 49.6%

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42% reduction in General and Administrative spending from pre-COVID forecast

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As of December 25, 2020, our properties are down 3,617 employees vs. last year with hours down 70.2%

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Implemented corporate cost reductions of $47.6 million in 2020

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Labor productivity improvement of 16.1%

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Total expenses down 51.3% year-over-year

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increasing operating margins

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working closely with our property managers on aggressive cost control initiatives

ir_statement / Sep 15, 2026 / receipt