Sentiment Analysis of the earnings transcript to help figure out if there are any bullish or bearish sentiments that could be gathered from it. We're doing ML and AI based analysis on the earnings call to get some more insights.
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| Statement |
|---|
| As I said in my prepared comments, we're going to have a record year by double-digit percentage on signings |
| Our market share is the highest in the industry |
| The strength of our brands, power of our commercial engines and resilient business model continue to drive strong top and bottom line performance |
| This supports meaningful free cash flow generation and greater shareholder returns |
| We feel good that we've hit a point of inflection and we're on the road to getting back to our 6% to 7% growth rate |
| In the quarter, system-wide RevPAR increased 6.8% year-over-year, boosted by strong international performance and continued recovery in business transient and group |
| Demand improved across all segments and regions with system-wide occupancy for the quarter reaching our highest level post-pandemic and only two percentage points off prior peak levels with September just one point shy of 2019 |
| Group RevPAR rose 8% year-over-year, outperforming leisure and business transient RevPAR growth of 5% each |
| And we have enough momentum that I have the confidence to feel good about giving you the range and outcomes on that basis |
| Steady rate growth and rising demand drove leisure RevPAR up 29% versus 2019, improving roughly 300 basis points versus the second quarter |
| And so -- the demand is very good |
| But given the macro view of what next year is going to be like and the pent-up demand, particularly in group, but also in business travel, we feel very good about it |
| On the group side, RevPAR exceeded 2019 peak levels for the first full quarter since the pandemic and we continue to see positive group booking trends in the quarter for all future periods |
| And then our non-RevPAR base fees as I think we've said a bunch of times, we're having great success |
| As we look to the fourth quarter, we expect continued strength in international markets, along with continued improvement in business transient and group demand to drive further acceleration in RevPAR compared to 2019 |
| Better-than-expected third quarter performance and increased expectations for the fourth quarter, partially driven by better group bookings |
| Obviously, very pleased with Q3, but more importantly, pleased with the momentum we have going into the fourth quarter, I feel pretty good about next year |
| We saw another quarter of robust signings with a near-record 35,500 rooms signed increasing 80% year-over-year |
| Adjusted EBITDA was $834 million in the third quarter, up 14% year-over-year and exceeding the high end of our guidance range |
| Signings in the quarter spanned our portfolio, demonstrating the benefits of a diversified industry-leading family of brands |
| We feel pretty good about it |
| Overall, we remain on track to deliver the highest annual signings in our company's history, surpassing 2019 record levels by double-digit percentage points |
| We also delivered another strong quarter of construction starts with every major region exceeding our expectations, and the US in particular, delivering its strongest quarter of start since Q1 2020, up 18% year-over-year |
| And so I think it's a good story in the US as well |
| So, I suspect next year, we will -- as that -- as you go through the year and you get that group base back, I think the rest of the segments feel very good |
| So, Home2 is very well received by the Chinese customer and very well received by the owner community recognizing Country Garden is not building any of these |
| We're pleased to report another strong quarter with system-wide RevPAR, adjusted EBITDA and adjusted EPS all above the high-end of our guidance ranges |
| And so -- as you saw from what we just reported on in Kevin's and my comments, we continue to have great success in the third quarter and that's continued in the fourth quarter |
| Announced just five months ago, Project H3 also continues to see tremendous demand with 350 deals in negotiation |
| I think this is meaningfully better than what people were expecting out there |
| Statement |
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| So, I mean, it's clearly it's still a challenging financing environment, although open and slow |
| And I would say what happened during COVID is that extended out a great deal because everything stopped and slowed down and then you have the supply chain issues even after things got moving again, we reopened |
| I know everybody has been nervous, they're not -- for good reason |
| Actually, in a really tough environment, as Kevin implied, we end up taking share |
| You have the supply chain things that slowed things down |
| First of all, the headlines surrounding Country Garden in China are getting any better |
| So I would say we do think -- the environment is not great, but not bad |
| I mean, I know everybody wants to say, nobody is going to travel for business, but that's just that people are traveling like crazy, look around and the makeup of there's some industries technology and financial services that haven't rebounded as much and have issues like over hiring and then reduction in workforce and all that |
| If they don't meet the milestones, it's not like we have to wait very long |
| We haven't made any big assumption to get to these NUG numbers for next year that something changes wildly |
| We think it's sort of going to my guess is it will matriculate and get a little bit better because there's a chance at some point next year, rates will come down things |
| And so I don't feel like there's any risk |
| I mean, I said in the prepared comments that in Q3, we actually were only 200 basis points off |
| But if you just look at pure new construction, it's a little bit -- it's still a touch longer than it had been |
| What's really happened, particularly in a lot of the big cities in the US is you don't have the group base back |
| We're never near done |
| That has now come back down to being closer to where we were, but still a little bit more extended than where we were |
| I just visited the property last week and was blown away |
| Third quarter is up a little |
| Why? Because of the things that are happy |
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