Next question, please.

Operator

Your next question comes from Chris Woronka from Deutsche Bank.

Chris Woronka - Deutsche Bank

Good morning, guys.

Frits D. van Paasschen

Good morning. Chris.

Chris Woronka - Deutsche Bank

Wonder if you could just expand a little bit on the commentary regarding the late-breaking business. If we look at that versus group versus corporate transient is there any discernible difference there and as you''re thinking about the guidance does that assume that late-breaking business continues throughout the year at the same pace you''ve seen recently?

Frits D. van Paasschen

Yes, I think the last part of your question is tough to answer, because in my view that''s so dependent on the continued growth in GDP and business and consumer confidence. But the way we look at that time group business and we suspected that this would happen, is in the fall, when we started to see group bookings pick up, they were largely farther out and I think people were taking advantage of what they saw to be favorable rates but at the same time, 2010 was still pretty light. Our suspicion was that people were waiting to see just what kind of a budget year 2010 would be and as the year has emerged people have decided that, in fact, there is an opportunity and we''ve come back and seen some very short window bookings that Vasant referred to earlier.

I think on the business transient side, it''s as simple as this. For business to work, people to have get out and travel and I think in our business, as in many others, we spent the last year and a half working very hard to reduce our costs. And we''ve all recognized that the path to prosperity from here is by growing the top line. And I think in so many ways to do that people are getting out and I think that''s what we''re seeing on the transient side of the business.

Vasant M. Prabhu

There is a couple other points. Outside the U.S., group is not as large a part of the business as it is in the U.S. Also, group business outside the U.S., even historically has it not been booked as far in advance as it is in the U.S. So outside the U.S., in the year, business, even on the group side has always been more important, also a smaller peace of continues. In the U.S., if you just went by the historical views of group base, et cetera and you project it strictly on group base, you''re down next year.

The reason we only expect that we''ll be down zero to 3% is on the basis that you have to believe in corporate trends in business and late breaking group business. So that has to be factored into get even it to the zero to down 3% range.

Jason Koval

Silvia, we have time for one more question, please.

Operator

Your final question comes from Patrick Scholes from FBR Capital Markets.

Patrick Scholes - Friedman, Billings, Ramsey Group, Inc.