Historically, SVC's select service and urban full-service hotels have generated approximately 75 to 80% of their revenues from business-related travel or meetings, and we believe a more widespread return to in-office work is important to seeing that level of business demand resume.

Feb 25, 2022 / President / receipt, needs a key / John Murray, President | earnings call 2022-02-25 | transcript cddb5b76-c9de-40af-b5f0-2cf454227af9 | chars 3897-4179 | segment 3

We believe 70% of the margin weakness at Sonesta select hotels reflects business travel related revenue weakness rather than cost pressure.

Feb 25, 2022 / President / receipt, needs a key / John Murray, President | earnings call 2022-02-25 | transcript cddb5b76-c9de-40af-b5f0-2cf454227af9 | chars 4315-4454 | segment 4