Operator

Good afternoon, everyone, and thank you for joining the Xenia Hotels & Resorts, Inc. Q1 2026 Earnings Conference Call. My name is Regan, and I'll be your moderator today. [Operator Instructions]

I would now like to pass the conference over to our host, Aldo Martinez, Director of Finance. Please proceed.

Aldo Martinez

Thank you, Regan, and welcome to Xenia Hotels & Resorts First Quarter 2026 Earnings Call and Webcast. I'm here with Marcel Verbaas, our Chair and Chief Executive Officer; Barry Bloom, our President and Chief Operating Officer; and Atish Shah, our Executive Vice President and Chief Financial Officer. Marcel will begin with a discussion on our performance. Barry will follow with more details on operating trends and capital expenditure projects. And Atish will conclude today's remarks on our balance sheet and outlook. We will then open up the call for Q&A.

Before we get started, let me remind everyone that certain statements made on this call are not historical facts and are considered forward-looking statements. These statements are subject to numerous risks and uncertainties as described in our annual report on Form 10-K and other SEC filings, which could cause our actual results to differ materially from those expressed in or implied by our comments. Forward-looking statements in the earnings release that we issued this