Marriott International, Inc. (MAR) Q2 2010 Earnings Call July 15, 2010 10:00 a.m. ET Executives Arne Sorenson - President & COO Carl Berquist - EVP & CFO Analysts Steve Kent - Goldman Sachs Joe Greff - JPMorgan Will Marks - JMP Securities Smedes Rose - KBW Josh Attie - Citigroup Janet Brashear - Sanford C. Bernstein Alistair Scobie - Atlantic Equities Felicia Hendrix - Barclays Capital Shaun Kelley - Bank of America/Merrill Lynch Chris Woronka - Deutsche Bank Jeff Donnelly - Wells Fargo Ryan Meliker - Morgan Stanley PresentationOperator
Welcome to the Marriott International Second Quarter 2010 Earnings Conference Call. Today's call is being recorded. At this time for opening remarks and introductions, I would like to turn the call over to the President and Chief Operating Officer, Mr. Arne Sorenson. Please go ahead sir. Arne Sorenson Thank you, good morning everyone. Welcome to our second quarter 2010 earnings conference call. Joining me today are Carl Berquist, our Executive Vice President and Chief Financial Officer; Laura Paugh, Senior Vice President, Investor Relations and Betsy Daum, Senior Director, Investor Relations. As always before we get into the discussion of our results let me first remind everyone that many of our comments today are not historical facts and are considered forward-looking statements under Federal Security's Laws. These statements are subject to numerous risks and uncertainties as described in our SEC filings, which could cause future results to differ materially from those expressed in or implied by our comments. Forward looking statements in the press release that we issued last night, along with our comments today are effective only today, July 15, 2010 and will not be updated as actual events unfold. You could find definitions of the terms we refer to this morning in our earnings release on page eight. You can find a reconciliation of non-GAAP financial measures referred to in our remarks on our website at www.marriott.com/investor.