Arne Sorenson | President, CEO & Director |
Kathleen Oberg | EVP & CFO |
Laura Paugh | SVP, IR |
Shaun Kelley | Bank of America Merrill Lynch |
Jared Shojaian | Wolfe Research |
Anthony Powell | Barclays Bank |
Bennett Rose | Citigroup |
Charles Scholes | SunTrust Robinson Humphrey |
Joseph Greff | JPMorgan Chase & Co. |
Robin Farley | UBS Investment Bank |
Thomas Allen | Morgan Stanley |
Michael Bellisario | Robert W. Baird & Co. |
Stephen Grambling | Goldman Sachs Group |
David Beckel | Sanford C. Bernstein & Co. |
Wesley Golladay | RBC Capital Markets |
Kevin Kopelman | Cowen and Company |
Vince Ciepiel | Cleveland Research Company |
Harry Curtis | Nomura Securities |
David Katz | Jefferies |
Ladies and gentlemen, thank you for standing by. And welcome to the Marriott International's Fourth Quarter 2018 Earnings Conference Call. [Operator Instructions]. It is now my pleasure to turn the floor over to Arne Sorenson, Chief Executive Officer. Please go ahead, sir.