Elie Maalouf

Really still record employment, job growth, but number of people employed is still at a record.

enormous capital spending by technology companies and other, not just tech and AI, but you have energy infrastructure.

That's driving business growth.

I mean, you put all these things together, it's hard not to be a little more positive in 2026 about the U.S.

than 2025.

And what we've seen in the first month and a half in business in the U.S., but actually, frankly, globally, makes us more optimistic.

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're using the global term, or soccer, if you're using the U.S.

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 it could add somewhere between 40 to 60 basis points of REVPAR to growth this year.

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 U.S.

outlook stronger for 2026.

We haven't seen that.

Our booking window isn't that long.