Steve Pizzella

Do you think this is a new normal for conversions moving forward? Or will we revert back to a more normalized conversion

can you talk about how you expect RevPAR to play out from a quarterly cadence perspective throughout the year

Can you elaborate on what the genesis of that was? How we should think about any impact from a franchise and royalty fee perspective moving forward

Can you talk about what you're seeing in the current environment, both domestically and internationally? How much key money is being used

conversions overall are going to be a bigger driver of net rooms growth longer term, including the licensing deals

Can you talk about what you're seeing in the current environment, both domestically and internationally from a competitive standpoint, including how much key money

Any color you can give us on how the year started off for the regional portfolio and if you have any thoughts on a range of outcomes for the regional business this year?

Do you want that to grow? Or are you happy with ADR gains while visitation remains challenged to the broader market?

Do you feel like you might have to do some more incremental marketing?

can you share how your database continues to shape up and the efforts to build the pipeline to get the right people to the property when it opens?

Can you talk about if you would be potentially interested in one of the licenses?

Can you talk about how we should think about the possible uses of the free cash flow in 2027?

Does the Big Beautiful Bill make you think any differently at all about some of the potential domestic CapEx projects

are you just able to comment on 4Q Las Vegas group pace? And any early commentary on expectations for Formula 1 this year