Our well-balanced portfolio is ideally suited for the most dynamic trends in travel over the next decade.

Feb 23, 2024 / CEO / receipt, needs a key / Mark Brugger, CEO | earnings call 2024-02-23 | transcript 376d7f57-edec-418a-87d3-f4923dca39c9 | chars 18720-18825 | segment 19

And we are happy to lean into our strategy focused on the data that supports that traveler preferences will make hotels and markets like ours, Vail, Boston, New York City, Sedona, and Marathon Key, smart capital allocation for long-term outperformance and NAV growth.

Feb 23, 2024 / CEO / receipt, needs a key / Mark Brugger, CEO | earnings call 2024-02-23 | transcript 376d7f57-edec-418a-87d3-f4923dca39c9 | chars 18826-19093 | segment 19

Resorts should benefit as competitive pressures from luxury revenge travel to Europe lessen this year.

Feb 23, 2024 / CEO / receipt, needs a key / Mark Brugger, CEO | earnings call 2024-02-23 | transcript 376d7f57-edec-418a-87d3-f4923dca39c9 | chars 4548-4650 | segment 4

We'll reverse as the year progresses and consumers continue to prioritize leisure travel.

Feb 23, 2024 / CEO / receipt, needs a key / Mark Brugger, CEO | earnings call 2024-02-23 | transcript 376d7f57-edec-418a-87d3-f4923dca39c9 | chars 5782-5871 | segment 5

So we saw that correlation happen with the small business traveler, which is great. But there's been fundamental changes in the way that big special corporates travel, the number of days they travel, whether they travel on Mondays and Fridays. So, you know, some of that's going to be a lasting impact. And as the business travel evolves, and it always evolves, and the general economy gets bigger and bigger, yeah, we'll probably get back to 19 levels, but not on an inflation adjusted basis.

Feb 23, 2024 / CEO / receipt, needs a key / Mark Brugger, CEO | earnings call 2024-02-23 | transcript 376d7f57-edec-418a-87d3-f4923dca39c9 | chars 44160-44653 | segment 45

First, we have room to run for our hotels to get back to prior peak occupancy. We expect to end 2023 about five and a half percentage points of occupancy behind prior peak. Closing that gap is worth $57 million in incremental room revenue. Second, there is an opportunity on group. Our geographic setup is good for 2024 with terrific convention calendars and important markets for us like Chicago, DC, and San Diego. If group room nights just get back to 2019 levels, that is worth over $34 million in incremental room revenue and concomitant outside the room spend. As Jeff noted, Domorek has a strong group pace for 2024, up over 23%. And lastly, ROI projects will continue to fuel results. For example, the Dagny Boston repositioned in 2023 is expected to experience 50% profit growth in 2024, with EBITDA projected to increase $4 million.

Nov 1, 2023 / CEO / receipt, needs a key / Mark Brugger, CEO | earnings call 2023-11-01 | transcript 72081f37-3baf-4e14-90da-35d7f13ed5ad | chars 20662-21504 | segment 21

Global travel demand remains strong. Annual hotel stays in the United States are expected to surpass the pre-pandemic record of 1.3 billion room nights. 2023 is also setting a new normal in hotel patterns as the changes to the way global citizens travel settles in post-pandemic.

Nov 1, 2023 / CEO / receipt, needs a key / Mark Brugger, CEO | earnings call 2023-11-01 | transcript 72081f37-3baf-4e14-90da-35d7f13ed5ad | chars 1558-1837 | segment 1

It seems like they're cutting back their material purchases before they're cutting back their travel expenses.

Nov 1, 2023 / CEO / receipt, needs a key / Mark Brugger, CEO | earnings call 2023-11-01 | transcript 72081f37-3baf-4e14-90da-35d7f13ed5ad | chars 45256-45366 | segment 46

The 20 urban hotels were tailored to be the hotel of choice for the business group and leisure travelers in their respective cities. The 16 irreplaceable experiential resorts are each in special destinations, and in many of these markets, Damarac has been the first mover among the hotel reads.

Aug 3, 2023 / CEO / receipt, needs a key / Mark Brugger, CEO | earnings call 2023-08-03 | transcript f8082989-e909-488e-8453-dcd3c534ca52 | chars 2871-3165 | segment 2

As evidence of that trend, The number of Americans traveling outbound from the US to international destinations is projected to be up nearly 20% over last summer, and cruise lines are seeing big year-over-year bookings.

Aug 3, 2023 / CEO / receipt, needs a key / Mark Brugger, CEO | earnings call 2023-08-03 | transcript f8082989-e909-488e-8453-dcd3c534ca52 | chars 6539-6758 | segment 6