With construction costs starting to normalize, our footers poured for new hotels are higher than expected. If interest rate cuts occur in the near future as anticipated, We expect a return to a more robust new construction and transaction environment, which will translate to acceleration in our development pipeline.

Aug 8, 2024 / CFO / receipt, needs a key / Scott Oaksmith, CFO | earnings call 2024-08-08 | transcript c2e83c85-b93c-4463-b03a-b5289388c95a | chars 8297-8614 | segment 8