CONF CALL
- $8-10m charge as a result of CEO transition and fulfillment of Fritz's agreement.
- No disagreements in corporate strategy. The change is on execution.
- Confident 2015 expectations will be met
- Will sell $3bn assets by 2016
- Accelerate pipeline/footprint growth and will manage balance sheet
- Affirm 1Q and 2015 FY EBITDA guidance and $300-$350m share repurchase and $250m in quarterly dividends in 2015.
Q & A
- Decision was made over the weekend
- Formed a search committee. No timeline set.
- #1 goal: drive top-line growth
- Did you explore other strategic alternatives for the company?
- Want to deliver value to shareholders
- Could do better: Net rooms growth for 2015; 2015 EBITDA targets put out
- Not as strong in mid-priced point segment. Aloft/Four Points are a step in that direction but their competitors have a much bigger presence.
- Time share spinoff nothing to do with this development
- Aron: Will keep outside directorship at NCLH
- Will evaluate possible HQ move to India in the next few days
