Marriott International

Good day everyone and welcome to today's Marriott International's first quarter 2022 earnings. At this time all participants are in a listen only mode. Later you will have the opportunity to ask questions during the question and answer session. You may register to ask a question at any time by pressing star 1 on your touchtone phone. You may withdraw yourself from the queue by pressing the pound key. Please note that this call may be recorded and I will be standing by if you need any assistance. It is now my pleasure to turn the conference over to Lenny Oberg, Chief Financial Officer and Executive Vice President of Business Operations.

Thank you, Operator. Before we begin, I wanted to take a moment to remember Laura Paw, a trusted and valued friend and colleague to many of us on this call. As most of you know, Laura tragically passed away after a car accident a few weeks ago. Laura was smart, helpful, witty, and unfailingly honest to all who knew her. We'll miss her incredible spirit and are committed to honor her legacy at Marriott. Laura's family was her greatest achievement, and we're holding them in our thoughts and prayers. And now I'll turn the call over to Jackie.

Thank you, Leni. Good morning, everyone, and welcome to Marriott's first quarter 2022 earnings call. On the call with me today are Tony Capuano, our Chief Executive Officer, Leni Oberg, our Chief Financial Officer and Executive Vice President, Business Operations, and Betsy Dahm, our Vice President of Investor Relations. I will remind everyone that many of our comments today are not historical facts and are considered forward-looking statements under federal securities laws. These statements are subject to numerous risks and uncertainties as described in our FCC filings, which could cause future results to differ materially from those expressed in or implied by our comments. Statements in our comments and the press release we issued earlier today are effective only today and will not be updated as actual events unfold. Please also note that unless otherwise stated, our RevPAR occupancy and average daily rate comments reflect system-wide constant currency results for comparable hotels and include hotels temporarily closed due to COVID-19. REVPAR occupancy and ADR comparisons between 2022 and 2019 reflect properties that are defined as comparable as of March 31, 2022, even if they were not open and operating for the full year 2019 or they did not meet all the other criteria for comparable in 2019. Additionally, unless otherwise stated, all comparisons to pre-pandemic or 2019 are comparing the same time period in each year. You can find our earnings release and reconciliations of all non-GAAP financial measures referred to in our remarks today on our Investor Relations website. And now I will turn the call over to Tony.