Net Room Growth Outlook
Q: Next year's rooms growth exceed this year?
A: Management is very confident based on a record pipeline of 250,000 rooms and strong deal execution, indicating robust growth with an improved brand and geographic mix.

Margin Expansion
Q: What drives margin expansion now?
A: Margins are improving, driven by ancillary revenue growth and operational efficiencies—with technology deployments and cost control measures boosting EBITDA.

Ancillary Fees Growth
Q: Will ancillary fees outperform RevPAR fees?
A: The team expects ancillary fee streams to grow faster than core RevPAR fees over the long term, mainly from their expanding credit card program and strategic partnerships.

Project ECHO Investment
Q: How is Project ECHO funded going forward?
A: About $100 million has been earmarked, with investments scheduled to ramp over 2025–26 and all necessary teams already in place.

Data Centers & Infrastructure
Q: How do data centers impact growth?
A: There’s a strong pickup in data center construction in key states like Texas, Florida, and Georgia, which is spurring demand for nearby lodging supply.

Retention Rate Update
Q: What is the current global retention rate?
A: The global retention rate stands at 95.7%, showing steady improvement as lower-value assets are replaced by higher-value ones, though detailed US versus international splits weren’t provided.

US RevPAR Q4 Outlook
Q: What are US RevPAR projections for Q4?
A: U.S. RevPAR is expected to benefit from easing comparisons—recovering from last year’s steep declines toward improved performance in the fourth quarter.

Market Share Gains
Q: Which states showed market share gains?
A: Market share improved notably in oil and gas states like Texas, North Dakota, and Louisiana, with brands such as Days Inn and Super 8 achieving strong performance.

Room Mix Dynamics
Q: How is the room mix evolving?
A: The mix is shifting toward higher-value segments, with ECHO Suites playing an increasingly significant role in delivering extended-stay demand.

New ECHO Deals
Q: Are new ECHO deals with fresh partners?
A: Recent 10 ECHO deals were secured with new institutional groups, broadening their franchise partnerships significantly.

Leisure Outlook
Q: How does leisure demand perform?
A: Leisure demand remains robust, driven by improved personal income and sustained booking trends that support high occupancy levels.

Election Impact
Q: Does the election affect leisure travel?
A: Minimal impact is expected—the shift in travel patterns during the election is managed by a favorable holiday period, keeping leisure demand strong.

Premium Economy Impact
Q: Are premium economy brands affecting performance?
A: New premium economy brands have only a cyclical impact without materially slowing overall demand in the economy segment.

China Stimulus Impact
Q: How does China stimulus affect outlook?
A: The recent stimulus boosts confidence slightly but doesn’t materially change their recovery outlook in China, which remains on track.

EBITDA & Long-term Growth
Q: What about 2026 EBITDA and growth trends?
A: Long-term EBITDA targets remain solid, driven by consistent net room growth and retention improvements, even as detailed guidance for 2025 awaits further budgeting.

Fourth Quarter Net Rooms Timing
Q: Are Q4 room additions pulled forward?
A: While year-to-date new construction is strong, Q4 additions may be lower than last year, yet full-year net room growth is expected to remain robust.

Technology & Merchandising
Q: What are tech-led merchandising targets?
A: A $300 million technology investment has boosted direct bookings and loyalty enrollments, enhancing operational efficiencies significantly.

Ancillary Fees Detailed Trends
Q: What trends drive ancillary fee increases?
A: The credit card program is a major contributor, with rising cardholder volumes and purchase volumes set to drive further ancillary fee expansion.

Hurricane Impact Comparison
Q: How does current hurricane impact compare to 2017?
A: This season affected about 500 hotels with a modest 40 basis point positive impact—far less severe than the 200–300 basis point swings seen in 2017.