For the full year, we continue to expect overall wage and benefit expenses to increase over 6%, which comprises approximately 57% of our total hotel operating expenses.

May 1, 2025 / CFO / receipt, needs a key / Saurav Ghosh, CFO | earnings call 2025-05-01 | transcript c81694d2-0e35-42ec-904d-78cfe9dd3b5f | chars 17765-17933 | segment 17

In 2025, we expect overall wage and benefit expenses to increase over 6%. For context, in 2024, overall wages and benefits grew 5.4% and comprised approximately 57% of our total hotel operating expenses.

Feb 20, 2025 / CFO / receipt, needs a key / Saurav Ghosh, CFO | earnings call 2025-02-20 | transcript 080a0664-6cc0-4466-8da7-e4ea0ee2dd60 | chars 18429-18632 | segment 18

In 2024, We expect wage rates to increase approximately 5%. For context, in 2023, wages and benefits comprised approximately 50% of our total comparable hotel expenses, and attrition and cancellation revenues were $75 million, which is approximately 50% higher than 2019.

Feb 22, 2024 / CFO / receipt, needs a key / Saurav Ghosh, CFO | earnings call 2024-02-22 | transcript dcaca1ae-51bd-401b-acb2-2ede0c20936e | chars 18237-18508 | segment 18

Shifting to margins, as we have discussed over the past few quarters, year over year, we expect comparable hotel EBITDA margins to be down 210 basis points at the low end of our guidance to down 170 basis points at the high end due to stable staffing levels at our hotels, higher utility and insurance expenses, and lower attrition and cancellation fees.

Nov 2, 2023 / CFO / receipt, needs a key / Saurav Ghosh, CFO | earnings call 2023-11-02 | transcript ae4a640d-df99-43ec-a530-78034f214e6f | chars 17794-18148 | segment 18