Marriott International

Stand by, your program is about to begin. Good day and welcome to the Marriott

International Q2 2025 earnings conference call. At this time all participants are in a listen-only mode. Later you'll have the opportunity to ask a question during the question and answer session. To register to ask a question you may press the star and one on your touchtone telephone at any time. To remove yourself from the queue you may press star two. Please note today's call may be recorded and it is now my pleasure to turn the conference over to Jackie McConega, Senior Vice President of Investor Relations. Please go ahead.

Thank you. Good morning everyone and welcome to Marriott's second quarter 2025 earnings call. On the call with me today are Tony Capuano, our President and Chief Executive Officer, Leni Oberberg, our Chief Financial Officer and Executive Vice President Development, and Pilar Fernandez, our Senior Director of Investor Relations. Before we begin I would like to 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 SEC filing, which could cause future results to differ materially from those expressed in or implied by our comments. Unless otherwise stated, our ref par, occupancy, average daily rate, and property level revenues comments reflect system-wide constant currency results for comparable hotels and all changes refer to -over-year changes for the comparable period. Statements in our comments in the press release we issued earlier today are effective only today and will not be updated as actual events unfold. 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.