Choice Hotels International, Inc.

Thank you. Thank you. © transcript Emily Beynon Thank you. Thank you. Thank you. Thank you. Thank you. Thank you.

Ladies and gentlemen, thank you for standing by. Welcome to Choice Hotels International's fourth quarter and full year 2025 earnings call. At this time, all participants are in listen-only mode. Following the prepared remarks, we will open the line for questions. I will now turn the call over to Ali Summers, Senior Director of Investor Relations.

Good morning and thank you for joining us. Before we begin, please note that today's discussion includes forward-looking statements as defined under U.S. securities law. These statements are subject to risks and uncertainties that could cause actual results to differ materially from those expressed or implied. For more information, please refer to our filings with the SEC, including our most recent forms 10-K and 10-Q. These statements speak only as of today, and we undertake no obligation to update them. A reconciliation of any non-GAAP financial measures referenced in today's remarks is included in our earnings press release available on the investor relations section of choicehotels.com. Joining me this morning are Pat Patience, our President and Chief Executive Officer, and Scott Oaksmith, our Chief Financial Officer. Pat will discuss our business performance and strategic progress, and Scott will review our financial results and outlook. And with that, I'll turn the call over to Pat.