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steadybase-$ person Mark McIntyre
nameMark McIntyre
roleCEO
linkedin none on file
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As you mentioned, the infrastructure bill is certainly starting to roll out. Our opinion will be kind of a more phased rollout throughout the country as different states are more advanced in how quickly they can allocate that into projects. What we've seen is overall construction spending is up about 4% year-over-year across the country. But really, there's really some top 10 states that have received most of the infrastructure dollars today. And about 38% of our hotels are actually located in those top 10 states. We are starting to see that come through in particular into our extended state product. We've also seen, you know, some good increased business in the oil markets where we've got a decent share there. So we are starting to see that infrastructure. It won't be because it's rolling out so much regionally. It'll be more of a regional play as we see that come through. But certainly we're well positioned to capture that increased demand that that spending will drive.

Nov 4, 2024 / CEO / receipt, needs a key / Mark McIntyre, CEO | earnings call 2024-11-04 | transcript 88a7ce05-35d8-491d-ae17-479bba97bb0d | chars 48165-49151 | segment 49

I think the other thing that we're seeing broad based is I mentioned, you know, people are traveling for sporting events. You know, the realignment of college football is driving a significant amount of fan bases traveling to the markets they normally had not to travel before. So Texas and Georgia and Austin. That occurred at the same time around the F1 race. And so, you know, a market like Austin really picks up business. You know, when Oregon goes to Michigan and Ann Arbor to play, those fan bases travel and, you know, they're not the local fan bases. So we are expecting that that's going to continue to be driver, you know, that sort of local market level of the sporting events and music as well. You know, when Taylor Swift goes to Miami and, you do see a pickup in business. So that is a trend that we do think is going to continue, more of the sporting and music event-driven travel.

Nov 4, 2024 / CEO / receipt, needs a key / Mark McIntyre, CEO | earnings call 2024-11-04 | transcript 88a7ce05-35d8-491d-ae17-479bba97bb0d | chars 51481-52378 | segment 52

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