Breaking it down by geography, our North America properties experienced a 4.5% decline in RevPars, while our properties in EMEA saw a 7% improvement in RevPars year over year. Notably, according to AAA travel data, 8% more Americans traveled internationally, while 20% fewer international visitors arrived in the US. And that's in May compared to May of 2019. I recently returned from visiting several of our Sonder Markets in Europe, and it's clear that the demand for leisure travel is still very strong and our properties there are performing very well.

Aug 9, 2023 / CEO / receipt, needs a key / Francis Davidson, CEO | earnings call 2023-08-09 | transcript 4583e121-819b-4219-83e5-66dc6d229d54 | chars 4543-5099 | segment 4

We also signed new GDS partnerships and are working with many of the industry's leading travel management companies.

May 10, 2023 / CEO / receipt, needs a key / Francis Davidson, CEO | earnings call 2023-05-10 | transcript 0d26e80d-10df-499c-8a59-cf220dd4d35a | chars 5795-5911 | segment 6

In 2022, we continued to extend our corporate business, which included, among other things, strengthening our position on GDS platforms and adding a significant amount of corporate travel accounts. This translated into approximately 70 million in booked corporate sales in 2022, roughly 5x growth compared to 2021. This year, we plan to continue expanding into new industry segments and expect another year of strong growth within the corporate business, which will bolster weekday rough parts in particular, an area with still a lot of upside.

Mar 1, 2023 / CEO / receipt, needs a key / Francis Davidson, CEO | earnings call 2023-03-01 | transcript 64c8a509-4e2c-46d9-990e-d0b6950d4fc0 | chars 5295-5839 | segment 5

So, I mean, we announced some really positive news today on corporate travel, right? $70 million of booked corporate sales, which was a 5x growth from 2021. So really extraordinary progress there from the team. Really proud of the work that they've done to to go and drive especially weekday demand and help bolster RevPars during weekdays where we've traditionally been not as strong as our comps, but we're making a lot of progress there and there's more to come in 2023.

Mar 1, 2023 / CEO / receipt, needs a key / Francis Davidson, CEO | earnings call 2023-03-01 | transcript 64c8a509-4e2c-46d9-990e-d0b6950d4fc0 | chars 22229-22702 | segment 22

Of course, there's the question mark on how strong will be business travel demand which we don't have, again, differentiated insight into beyond what prognosticators, forecasters have already laid out. But we feel very good about our capacity to get a disproportionate share as we have in 2022.

Mar 1, 2023 / CEO / receipt, needs a key / Francis Davidson, CEO | earnings call 2023-03-01 | transcript 64c8a509-4e2c-46d9-990e-d0b6950d4fc0 | chars 22703-22997 | segment 23

So yes, we've added more GDSs. There's a whole distribution landscape for business travel that our team has been working hard to add to our demand channels. And so those efforts are starting to pay off. And in addition to, of course, the technology kind of distribution angle, it's really important to have boots on the ground and folks that are there to advocate and sell the Sondra Value Proposition to corporate customers.

Mar 1, 2023 / CEO / receipt, needs a key / Francis Davidson, CEO | earnings call 2023-03-01 | transcript 64c8a509-4e2c-46d9-990e-d0b6950d4fc0 | chars 24056-24481 | segment 24

Given our fixed land board payments, a small increase in RevPAR translates to a much larger increase in cash contribution margin. As a result, we remain focused on several rapid payback RevPAR initiatives, including growing our new corporate travel offering. We ended Q3 with approximately 600 accounts versus 400 last quarter and 100 in Q4 of 2021. While we're still in the early stages of our corporate travel offerings, We've gained traction each quarter since its launch, and we're incredibly excited about this as an opportunity to drive incremental RevPAR.

Nov 9, 2022 / CEO / receipt, needs a key / Francis Davidson, CEO | earnings call 2022-11-09 | transcript 2d65f948-55f0-415c-80d8-91ebfb6e7e65 | chars 5592-6154 | segment 5

We're still in the very early innings of our corporate travel offering, but have confidence that this is a huge opportunity and will continue to gain traction in the coming quarters.

May 11, 2022 / CEO / receipt, needs a key / Francis Davidson, CEO | earnings call 2022-05-11 | transcript 77f73eda-ba90-4ffa-ac9d-7e04a006f350 | chars 9477-9659 | segment 9

We're really excited about reaching this milestone and entering 2022 with a strong balance sheet that will allow us to lean into the travel recovery and capitalize on the opportunities it opens up for our disruptive model.

Mar 9, 2022 / CEO / receipt, needs a key / Frances Davidson, CEO | earnings call 2022-03-09 | transcript 675e2699-6aae-4f47-949b-7bb5cf7f5de8 | chars 2724-2946 | segment 2

These pursuits include innovative revenue management tactics, improved distribution capabilities, expansion into new demand pools like corporate travel, and ancillary revenue opportunities such as monetizing in-unit upgrades and interstate cleanings.

Mar 9, 2022 / CEO / receipt, needs a key / Frances Davidson, CEO | earnings call 2022-03-09 | transcript 675e2699-6aae-4f47-949b-7bb5cf7f5de8 | chars 6408-6658 | segment 6

Sorry, the third piece I want to mention is the corporate travel demand. So we've launched in mid-2021, like Sanjay mentioned earlier, a corporate travel program with 100 partners. We rely now on all the GDS systems. And this is all incremental revenue. More eyes looking at our supply, more people invited to the auction, so to speak. And we think there's going to be a lot of change in the corporate travel sector going forward post-pandemic, and we're uniquely positioned to answer some of these changes and be really nimble and adapt ourselves. I think particularly the workforce that isn't tethered to an office, folks that can work from anywhere, there's going to be a lot of important changes, and we're ready to take advantage of them as the market recovers.

Mar 9, 2022 / CEO / receipt, needs a key / Frances Davidson, CEO | earnings call 2022-03-09 | transcript 675e2699-6aae-4f47-949b-7bb5cf7f5de8 | chars 25613-26379 | segment 25