earnings hope welcome and Hyatt’s Thank Good healthy well. keeping your and you, and call Brad. morning families that on and first call. quarter this to participants XXXX I all are safe
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of Our losses deepest experienced all to go this pandemic. who’ve during those, out sympathies
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around this are and and ineligible the To-date, week, working government of not nearly the those colleagues applications XXX Fund processing thousands is in thousands coming more Beginning weeks. to Care received grants Hyatt we from prioritizing are provided has colleagues and who for the world assistance.
hotel we our In actively been engaged our as to addition period. very-challenging them owners in work assist this we’ve to navigating with colleagues,
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of expiration Hyatt suite upgrades also for members, early status suspended XXXX. free tier we dates night of through club this World this forfeiture end year, and awards of extended points the of extended the and For to end the awards, year, through
our We to challenges dissipate. continue with forward their us travel resuming opportunities to to the look COVID-XX of support evaluate guests they as once
Joan moments, and taken provide liquidity. on to impact on address regarding April, reductions few the demand, decline severe during of details we’ve March proactive the a the and operating In the will results our more steps and environment focus cost with in a that immediate
cover to any and I’d topics, how the is shape or of timing we’ll very which travel of first but the to it certainty It turning and Joan, around shelter-in-place to lift? do about restrictions two through will know, to is, travel the difficult thinking begin over when recover. Before get the of recovery this we’re recovery, we like demand have
more explore a out experiences, desire the continued to travel will that with basic products. expect focus persist than on We seeking and human
and look leisure XXXX, first transient, transient might break leisure we business We in understand how practices. customers the into perhaps the in half helpful and like to the the plans around that what transients down corporate time, will into place being travel this our profile year lead the commercial recovery their most in to will group. think and evaluating of they relaxing ramp up following that sources modified about and at include come world, guidelines centers are will primary general second of this likely with We remain of the it’s travel transient business that in the recovery a back. strict When the believe work-at-home of
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and always priority consulting year, that for the Hyatt remain preparation a open. cleaning environments ramping going for hotels. force those is hotels future, for recovery to top reopening that back all January But standards to procedures. emphasis well up suspended quickly health experts and Providing to guests along the way our steps focused ensure clean put began we occupational operations the that We’ve health the and to aspects disinfecting World Health in get authorities and various as also Centers cleaning by for provided guidance including with and and protocols disease aligned in serve. situation the Disease Control Prevention taken of organizations Organization, that local safety on and colleagues with has or in Looking this of safe task recovery on have with been special and for place enhanced we infectious ahead as various are markets procedures of
our Just guidelines at composed real-time process last we is Cleaning area a analysis an & the colleague world. hotels operational we and to specifically Council Cleanliness threats the GBAC microbial accreditation and with and Care Worldwide enhancement of crises COVID-XX to resources Biorisk around pathogenic mitigation, week, through Advisory of the threat in the like and guest ISSA, the Global GBAC pandemic. Industry Included our of deal of our leaders part safety. that is and designed as biological commitment Association have or around division announced is an as announcement that initiated Global an Commitment
We believe hotels at plans first that accreditation announce Hyatt our company is hospitality to independent the to commit to globally.
and developing that health to concerns safe can standards related we groups continue while manner also COVID-XX to of effective to As a and meeting are these ensure part efforts, in meet group protocols persist.
Association American journey. addition, includes have a that in Lodging Airlines on Holdings In standards working American Enterprise and this industry-wide to we the in with Meanwhile, this working travel provide guidance and also the closely group we established and Hospitality across area. are area
over the months summary, colleagues and and and engaged both, travel we begins and taking recover steps experience our to as guests necessary ensure are In coming all our for safe actively beyond. the a enjoyable of to
of through disposition while commitment to our driving to Secondary franchising We management our discuss committed business, and growth, program. long-term I’d is growth to asset our asset-light remain like briefly our strategy. the continuing
intend of Day completed Investor sales the until end way capital part event to we estate. to of commitment. and $XXX We that our reminder, billion $X.X of as than our owned By have strategy, we commitment of complete billion asset of additional million fulfill sell to remainder. in as more $X.X During that in against an XXXX, the March commitment a XXXX March of in announced, real XXXX,
see pressure to been is on in assets. the and we to a And we clear assets a may always that market of period less activity there short time. for simply sell distressed wouldn’t We’ve sell pricing, demand near-term extent
Our value. with remaining of portfolio many sustainable of well-located assets is assets comprised
net rooms X.X% management XXXX which the pace XX% increased delivered running, from the for to industry-leading kept And approximately new net we’ve first with has and initial franchising openings. several benefited quarter in growth. solid been that would of pace our for that quarter. business, signings our And rooms our the continue. pipeline, growth delivering respect of We years expectations by With year-over-year, indicated of growth fee first
fee in approximately disclosed impact the growth previously Atlantic the If exclude a room base, of the the had quarter. large Ocean but first base City, small been in net rooms you Resort would which of X% a have our removal
presence the remain a do our open disruption we the to deal nonetheless time. crisis. hotels expanding four openings activity, in delays quarter, over We as and an healthy first exceptionally scheduled had new we or over and to of we of some through next new certain this years, expect work the planned While committed in five for pipeline strong worst year retained
In conversion business higher-than-normal development aggressively given pursuing the on conditions. be available new opportunities, opportunities, we also are well which addition may to volumes, on very-focused
serve relations on strong all Our brand as distribution and in capitalizing reputation, an advantage should opportunities. underpenetrated owner these
conclude to by clearly well-prepared is we a prepared facing as industry remarks an are highly we liquidity We’ve challenges. manage my necessary and costs, a team company, Joan the saying as while proactive in unprecedented in that weather an these cash that storm, reduce taking as overcome the flow have a challenge discuss to to minute. this management been secure I’ll and will necessary morning steps experienced the
brand positioning the actively a Hyatt in resume We strength are the activity also and months of beyond. position as choice for on of travelers emerge over as focused they to coming
our the and Finally, strategy of we asset growth remain to disposition strategy. execution committed our
turn Joan, over to now to additional I’ll taken results provide and the to we’ve opening this it some manage you. Joan that our on environment. details over through steps to of challenging
