CorePoint Lodging Inc. (CPLG) 2019年年度报告「NYSE」.pdf

1、Notice of 2020 Annual Meeting of Stockholders and Proxy Statement&2019 Annual ReportChicago DowntownCPLG at a Glance*:254Hotels32,924Rooms41States116MSAsPure play select service hotel owner strategically focused primarily on the upper midscale and midscale segmentsAs I write this letter,our company,

2、industry and nation are facing unprecedented times.The public health crisis caused by COVID-19 is rapidly evolving,and the macro lodging environment has deteriorated as government-mandated lockdowns,closures of businesses and travel restrictions have severely impacted hotel demand.The short-term ste

3、ps we are taking to aggressively respond to these events may be superseded by other necessary actions in coming weeks and months.What will remain constant throughout this crisis,however,are our top priorities of ensuring the health and safety of our guests and employees,safeguarding our capital and

4、working collaboratively with our third-party manager to contain costs.Looking back on 2019,CorePoint had a challenging year from an operational perspective.We experienced revenue disruption following the systems migration to the Wyndham platforms that occurred in early 2019,as well as a softening of

5、 the macro lodging environment in the second half of the year.We were pleased to be able to secure an economic and structural settlement with Wyndham during the year to resolve the core issues of our dispute and begin addressing the underperformance of our hotels that had existed since that systems

6、conversion.This settlement resulted in cash payments to CorePoint totaling approximately$37 million,agreement on what we believe are critical revenue management and other booking functionalities to be re-established at Wyndhams expense,agreement on objective franchise transfer approval criteria rela