In the US and Canada, fourth quarter REVPAR declined 15% compared to 2019. Results were driven by strong ADR, which was less than 2% below pre-pandemic levels. Further strengthening of already robust leisure travel and steady improvement in the recovery of business transient and group demand also helped results.

Feb 15, 2022 / CEO / receipt, needs a key / Tony Casuano, CEO | earnings call 2022-02-15 | transcript 49785896-9314-4dce-aa3b-cd0ab7a3d03f | chars 3710-4023 | segment 3

The Middle East and Africa, or MIA region, performed particularly well in the fourth quarter, really demonstrating the resilience of travel demand. With relatively high vaccination rates and low travel restrictions during the quarter, the Middle East has become a safe, easy place to visit. Led by strength in the UAE, fourth quarter RevPAR in MIA rose 8% in 2019, driven by 20% higher ADR. Excuse me, 8% above 19, driven by 20% higher ADR. Fourth quarter occupancy in MIA topped 65%, the highest of our regions. Leisure demand was remarkably strong, benefiting from a significant increase in international visitors. Room nights from international guests rose nearly 60% from the third to the fourth quarter.

Feb 15, 2022 / CEO / receipt, needs a key / Tony Casuano, CEO | earnings call 2022-02-15 | transcript 49785896-9314-4dce-aa3b-cd0ab7a3d03f | chars 5675-6383 | segment 5

I've spent most of the last few months on the road, traveling across the U.S., from New York to Los Angeles, and also abroad, and have seen firsthand their dedication to serving our guests.

Feb 15, 2022 / CEO / receipt, needs a key / Tony Casuano, CEO | earnings call 2022-02-15 | transcript 49785896-9314-4dce-aa3b-cd0ab7a3d03f | chars 10678-10867 | segment 11