CorePoint Lodging Inc. (NYSE:CPLG) Q2 2019 Earnings Conference Call - Final Transcript

Aug 13, 2019 • 05:00 pm ET

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CorePoint Lodging Inc. (NYSE:CPLG) Q2 2019 Earnings Conference Call - Final Transcript

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Presentation
Operator
Operator

Good day, ladies and gentlemen, and welcome to the CorePoint Lodging's Second Quarter 2019 Earnings Conference Call. At this time, all participants are in a listen-only mode. Later, we will conduct a question-and-answer session and instructions will follow at that time.

[Operator Instructions] As a reminder, this conference call is being recorded.

At this time, I'd like to turn the call over to your host, to Becky Roseberry. Please go ahead.

Executive
Becky Roseberry

Good afternoon and welcome to CorePoint Lodging Second Quarter 2019 Earnings Conference Call. Everyone should have received a copy of our earnings release issued earlier this afternoon. This release, along with our 10-Q and a transcript of this call, when available, can be found on our Investor Relations page. In a moment, we will have some prepared remarks from Keith Cline, our President and Chief Executive Officer; and Dan Swanstrom, our Chief Financial Officer. Also in the room with us today are Howard Garfield, our Chief Accounting Officer; and Rob Song, our SVP of Investments.

Before we start, I'd like to remind everyone that 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 risk 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 Annual Report on Form 10-K filed with the Securities and Exchange Commission.

In addition, in today's remarks, we will refer to adjusted EBITDAre and adjusted FFO, which are non-GAAP financial measures. 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 www.corepoint.com.

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 related to our spin-off from La Quinta Holdings Inc. and other matters. Please refer to our earnings press release for additional detail.

Finally, for those listening to a replay of this call, after August 13, 2019, we will remind you that this presentation will not be updated and it is possible that the information discussed will no longer be current.

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

Executive
Keith A. Cline

Thank you, Becky. Good afternoon, everyone and welcome. We're pleased you could join us. We have several objectives for today's call. First, we want to describe, with as much of detail as we can, what we believe are the factors behind the results we're reporting today, including