CorePoint Lodging Inc. (NYSE:CPLG) Q4 2018 Earnings Conference Call - Final Transcript

Mar 21, 2019 • 05:00 pm ET


CorePoint Lodging Inc. (NYSE:CPLG) Q4 2018 Earnings Conference Call - Final Transcript


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Good day ladies and gentlemen, and welcome to CorePoint Lodging's Fourth Quarter and Full-Year 2018 Earnings Conference Call. (Operator Instructions) As a reminder, today's conference maybe recorded.

I'd now like to introduce your host for today's conference Ms. Kristin Hays. Ma'am please go ahead.

Kristin Hays

Thank you, Liz (ph). Good morning and welcome to CorePoint Lodging's fourth quarter and full-year 2018 earnings conference call.

This presentation includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, which reflects the Company's current view of future events and financial performance. Words such as outlook, expect, will, plan, anticipate, intend, believe, and other similar expressions identify forward-looking statements. Any such forward-looking statements are subject to risks and uncertainties, such that the Company's future or actual results could differ materially from historical results or current expectations or from that which is expressed or implied by any such forward-looking statements. For more details on these risks, please refer to the Company's information statement included as Exhibit 99.1 to the Company's registration statement on Form 10 or our annual report on Form 10-K once it has been filed with the Securities and Exchange Commission.

In addition, in today's remarks, we will refer to adjusted EBITDAre, which is a non-GAAP financial measure. You may find a reconciliation of this information to the most comparable measure calculated and presented in accordance with GAAP in our earnings press release, which is also included as an exhibit to the Form 8-K we filed with the SEC, which may be found on our website at Also, it is important to note that certain financial results, including adjusted EBITDAre, will be discussed on a pro forma basis, giving effect to adjustments relating to our spin-off from La Quinta Holdings and other matters. Please refer to our earnings press release for additional detail.

Please note that no portion of this presentation may be rebroadcast or rewritten in any form without the prior written consent of CorePoint Lodging. For those listening after March 21st, 2019, we remind you that this presentation will not be updated, and it is possible that the information discussed will no longer be current.

This afternoon, Keith Cline, our President and Chief Executive Officer, will provide an overview of CorePoint's fourth quarter and full-year performance and a review of our strategic priorities for the coming year, including an update on the Wyndham integration. Dan Swanstrom, CorePoint's Chief Financial Officer, will then provide more details on our quarterly performance, review our balance sheet and liquidity position, and discuss our outlook for 2019. Keith will then make a few closing comments before we open the line for your questions.

Also, in the room with us today is John Cantele, CorePoint's Chief Operating Officer; Howard Garfield, our Chief Accounting Officer; Rob Song, SVP of Investments; and Becky Roseberry, our SVP of Finance.

With that, I will now turn the call over to our President and CEO, Keith Cline.

Keith A. Cline

Thank you, Kristin. Good afternoon, everyone, and welcome to CorePoint Lodging's