Arne Sorenson | President and CEO |
Leeny Oberg | EVP and CFO |
Shaun Kelley | Bank of America |
Arpine Kocharyan | UBS |
Harry Curtis | Instinet |
Joseph Greff | JPMorgan |
Jared Shojaian | Wolfe Research |
Patrick Scholes | SunTrust |
Smedes Rose | Citi |
Anthony Powell | Barclays |
Bill Crow | Raymond James |
David Katz | Jefferies |
Michael Bellisario | Baird |
Wes Golladay | RBC Capital |
Kevin Kopelman | Cowen |
Vince Ciepiel | Cleveland Research |
Stuart Gordon | Berenberg |
Ladies and gentlemen, thank you for standing by, and welcome to the Marriott International's Fourth Quarter 2019 Earnings Conference Call. At this time, all participants are in a listen-only mode. After the speaker presentation, there will be a question-and-answer session. [Operator Instructions] Please be advised that today’s conference is being recorded. [Operator Instructions]