03Cash, cash equivalents, and short-term investments totaled $12.1 billion as of June 30, 2026Funds held for bookings in advance of guest check-ins totaled $12.2 billion as of June 30, 2026Company repurchased 7.9 million shares for $1.1 billion in Q2 2026, with $3.4 billion remaining under authorization2022 Credit Facility provides $1.0 billion of undrawn commitments
capital disciplinea reason to hold, not a barrier