Ballotti指出中国区ADR同比持平，RevPAR下滑源于入住率承压而非降价。

但集团CEO Geoff Ballotti特别指出“中国区ADR同比持平”——RevPAR下滑主要来自OCC承压，而非降价。

Ballotti表示，温德姆的中西部和工业州布局使其受益于基础设施需求，而基础设施法案近80%的资金尚未投放。

我们在中西部和工业州表现强劲，爱荷华州增长16%，伊利诺伊州增长15%，俄亥俄州增长10%，印第安纳州增长9%，这表明我们的资产组合有望受益于基础设施相关需求的增长，而基础设施法案近80%的资金尚未投放。

原文 (en)

We continued to see strong performance across our Midwest and industrial states with significant growth in Iowa, up 16%. Illinois, up 15%, Ohio, up 10%, and Indiana up 9%, highlighting a portfolio well positioned to benefit from increasing infrastructure related demand, with nearly 80% of the infrastructure bill yet to be deployed.

Ballotti预计忠诚会员会指示AI代理优先使用温德姆忠诚计划，帮助其相对OTA赢得直订。

我们设想未来，这些自主AI代理会被客人、尤其是温德姆奖励会员明确指示，把我们的酒店忠诚度计划作为搜索条件的前提偏好。我们认为这意义重大，能真正帮助我们增长。

原文 (en)

We envision a future in which these new autonomous agents are explicitly instructed by our guests and especially by our Wyndham reward members to use our hotel loyalty program as preferences as a prerequisite in their search criteria. So we think it is a big deal, and we think it could really help us grow.

Ballotti称生成式引擎优化可能比SEO便宜得多，AI预订佣金将塑造所有品牌和OTA的经济模式。

对我们和营销基金而言，GEO很可能比SEO便宜得多，但这仍有待确定。随着AI交易增长，Meta的Muse正在内置一小笔佣金。这是需要关注的领域，它将塑造每个品牌和每个OTA的AI经济模式。

原文 (en)

GEO may well prove to be for us and for our marketing fund, a whole lot less expensive than SEO. that is still to be determined. It is a great question. I mean, as AI transactions ramp, you have got Meta's muse out there, again, headline, building in right now a small commission. But it is the space to watch, and it will shape the economics of AI for every brand and every OTA.

Ballotti称中国通缩周期可能见底，PPI和CPI转正，尽管二线城市RevPAR下降10%。

他们确实相信，也有很多分析师认为中国所处的通缩周期正在见底。今年PPI多年来首次转正，CPI近期也转正。

原文 (en)

They do believe and there is a lot of analysts out there that believe that the deflationary cycle that China has been in is beginning to bottom. I mean, we have seen this year PPI turn positive for the first time in several years. We have seen CPI recently also turn positive.