Empire State Realty Trust CEO: International demand was lower than expected

Financial Performance - Empire State Realty Trust's second quarter results were in line, but full year guidance was lowered [1] - The company delivered $24 million of NOI to the bottom line [4] - Leasing spreads mark to market were at 12.1%, marking the 16th consecutive quarter of positive leasing spreads [7] Observatory Business - The observatory experienced an unusual number of bad weather days on weekends, impacting performance [2] - Demand has been lower from past program business, predominantly international [2] - Revenue per person is up more than 2.3% [5] - Domestic visitors now account for a little more than 50% of visitors, a shift from pre-COVID levels where international visitors were approximately two thirds [5] Leasing Activity - 222,000 square feet of leases were signed in the Manhattan portfolio in the last quarter [7] External Factors - Concerns exist regarding the impact of potential policy changes and political climate on New York City's attractiveness to businesses and residents [9][10]