The following is excerpted from the question-and-answer section of the transcript.
(Questions from industry analysts are provided in full, but answers are omitted - download the transcript to see the full question-and-answer session)
Question: Michael Bellisario - Baird - Analyst
: Thanks, good morning everyone.
Question: Michael Bellisario - Baird - Analyst
: Just first question is on CapEx, can you just, remind us where you're at with the development in Tahoe and then, how much if any spending, you're
going to have in '25 relative to that, $75 million to $95 million range that, you guys just provided.
Question: Michael Bellisario - Baird - Analyst
: Got it. That's helpful. And then just on your shareholder value plan, I mean fair to assume you're still restricted from repurchasing common stock.
If not, maybe how are you, thinking about balancing the common versus preferred repurchases at this point in time?
Question: Jonathan Jenkins - Oppenheimer & Co. Inc. - Analyst
: Good morning.
Thank you for taking my questions and congrats on the quarter. First one from me, hoping to drill down on kind of the RevPAR strength in January,
which seemed pretty broad based and if I understood correctly, despite calendar shift headwinds, can you maybe provide some additional color
on what you think is driving that demand inflection and how sustainable, that could be longer term.
Question: Jonathan Jenkins - Oppenheimer & Co. Inc. - Analyst
: Okay, I appreciate the color there, Chris. And then, maybe on a similar line, Richard, in your prepared remarks, you mentioned about the return of
steady growth in resort markets. When you think about about that return, is that kind of a long term average for resorts or can you outperform?
How are you thinking about that just in broad strokes?
Question: Jonathan Jenkins - Oppenheimer & Co. Inc. - Analyst
: Okay, that's great. And then maybe last one for me if I could. I don't want to leave Deric out, so question for Deric or maybe Richard, but can you
talk about the transaction market broadly, in terms of volume and pricing? Has there been any closing of the GAAP between buyers and sellers'
expectations or any other moves, as of late for the kind of high quality assets you own given that move in rates that that you talked about there?
Question: Jonathan Jenkins - Oppenheimer & Co. Inc. - Analyst
: Yeah, that's excellent color. Thank you for all the for the time. That's all from me.
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