Interviewer (3:41)

Well, let's talk a little bit more about the World cup because obviously there is a ton of exc building for this summer. What do past World Cups tell you about what the region could expect here in the US and what are you doing to prepare for that?

Ellie Maloof (3:55)

Well, look, we're very prepared. We're in most of the major cities where they're going to be, you know, football if you are using the global term, or soccer if you're using the US Term. But we're also very present in Canada and in Mexico where games are going to be played. We've got a lot of experience with global events. We're in 100 countries. We're a global company that's very big in the United States. But we've got experience with all these major events. I mean, look, there are industry forecasts that say could add somewhere between 40 to 60 basis points of revpar to growth this year. Warn that we haven't put out a forecast. We do think it's going to be accretive. We think it's one of many other things that are making the US outlook stronger for 2026.

Interviewer (4:37)

I am curious. So Ellie, you have no concerns right now about some of the immigration issues here in the US Potentially maybe dampening just how many people would actually travel, foreign travelers that is into the US for these events?

Ellie Maloof (4:53)

We haven't seen that. You know, our booking window isn't that long. The games are still a Few months away, frankly. Most companies in our business at our scale see somewhere between 50 to 60% of all their bookings in the last week. Now, long event bookings like this are start to come in months before. We're pleased with the bookings we're seeing in our major cities for the World Cup. It's a bit early really to make a forecast on it, but we're pleased we're not seeing any resistance to come. Look, sports bring the world together and that's always been the case no matter where the World cup has been held. And keep in mind, we're a global company. We're very focused on United States. We think it's going to be more optimistic this year. But around the globe we're seeing, we're seeing positive trends in Europe, certainly in the Middle east, where we have a very big business and that's growing. Southeast Asia has had a very good year in 2025 that continues in China, which was, you know, a bit negative in Revpar. Growth for the last two years turned positive in Q4, a strong economy. We had record signings and openings in China last year. So really globally, everything's taking shape for a better year in 2026.

Interviewer (6:02)

Well, on that point here, are you seeing any material difference in demand for I guess, your high properties versus low? So say something like a Holiday Inn on the lower end of the price spectrum all the way up to, you know, the Intercontinentals, Crowns, Kimptons and those things on the higher end.

Ellie Maloof (6:18)

Sure. Look, we pride ourselves on having a stay for Everybody. And in 2025, both holiday and Holland Express had a positive year around the world. Now I'd say the upper end luxury had an even more positive year. That's been a trend going on for a couple of years. We think over time the mainstream travel, the middle class travel will converge. And some years you find that luxury does better than mainstream, some years mainstream does better than luxury. There are strong structural drivers for both. In mainstream, the middle class is growing around the world. In China, the middle class is going to double the next 10 years. In India, Southeast Asia, similar figures in the United States, the middle class is getting wealthier. And so the middle class is the heart of the business and that has strong structural drivers at the upper end. At the luxury you've got two structural drivers. First, you've got an aging population that's however aging in a healthier and wealthier condition. And one of the main things they want to do is travel. They prioritize live experiences over products and they're living Longer, healthier and they want to travel more.

Podcast Host (7:24)

Right.

Ellie Maloof (7:24)

So that's got a structural driver. I think both have a very good future.

Interviewer (7:28)

Well, Ellie, when it comes to the upper end, and we only have about a minute left with you, talk to us about where you see the Noted Collection launch, sort of fitting into that portfolio.

Ellie Maloof (7:38)

We're very pleased to launch Noted Collection Today, our 21st brand. It's going to be targeted in premium, which is between luxury and and mainstream right there in the premium for business travelers, for leisure travelers. It's a collection brand. So start to collect iconic assets that already have a strong local presence, a strong following. But for owners that want to join a very strong system like ISG, we have 160 million. I see one awards members. We cover 100 countries. We got best in class technology, leading AI driven revenue management systems, all the powers that can make hotel performance stronger or you can keep your own brand and your own identity as a property. So it's a collection for these iconic assets. It's going to be urban Leisure. We're targeting about 150 hotels over the next 10 years and we're optimistic about its growth.

Interviewer (8:29)

All right, we have to leave it there. I really appreciate you joining us here and I think we've got to check back in as we get closer. Of course. Thank you to what's going on with the World cup here in North America. Ellie Maloof, the CEO over at ihg.

Podcast Host (8:41)

Support for the show comes from Public. Public is an investing platform that offers access to stocks, options, bonds and crypto. And they've also integrated AI with tools that can assist investors in building customized portfolios. One of these tools is called Generated Assets. It allows you to turn your ideas into investable indexes. So let's say you're interested in something specific like biotech companies with high R and D spend, small cap stocks with improving operating margins or the S&P 500 minus high debt companies. Chances are there isn't an ETF that fits your exact criteria. But on public you just type in a prompt and their AI screens thousands of stocks and builds a one of a kind index. You can even backtest it against the S&P 500. Then you can invest in a few clicks, go to public.com market and earn an uncapped 1% bonus when you transfer your portfolio. That's public.com market ad paid for by.

Public.com Advertiser (9:35)

Public Holdings Brokerage services by public investing member FINRA, SIPC advisory services by public advisors SEC registered advisor crypto services by ZeroHash. Sample prompts are for illustrative purposes only, not investment advice. All investing involves risk of loss. See complete disclosures@public.com Disclosures Foreign.

iShares Advertiser (9:58)

From iShares, you get access to both monthly income and growth potential in one simple ETF. It's the best of both worlds. Discover Bali iShares Large Cap Premium Income Active ETF iShares the market is yours. Visit www.ishares.com to view a perspective for investment objectives, risks, fees, expenses, and other information that you should read and consider carefully before investing. Risks include principal loss and the use of derivatives, which could increase risks and volatility. Monthly income is not guaranteed. Prepared by BlackRock Investments, LLC.