Mark Woodworth, President of PKF Hospitality Research, and Jack Corgel Ph.D., Senior Advisor to PKF Hospitality Research and Robert C. Baker Professor of Real Estate at Cornell University overview the current conditions in the lodging industry, oil prices, economic forecasts, and disclose what's in their forecasting black box.

About CBRE Group, Inc.

CBRE Group, Inc. (NYSE:CBRE), a Fortune 500 and S&P 500 company headquartered in Dallas, is the world's largest commercial real estate services and investment firm (based on 2021 revenue). The company has more than 105,000 employees (excluding Turner & Townsend employees) serving clients in more than 100 countries. CBRE serves a diverse range of clients with an integrated suite of services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.

Robert Mandelbaum
Director of Research Information Services
CBRE Hotels