MAAT INDEX

CLAIM #54493 · SPG (SPG) · 2023Q3 earnings call · Oct 30, 2023 · due Dec 31, 2023

I think we'll be, year-end occupancy will be obviously higher than it is today. I don't know that it will be our highest ever, but it it'll be within distance pretty close.

David Simon · CEO

PENDING
graded after results covering Dec 31, 2023 are reported

In context

ery significant to our growth and we'll kind of see where the fourth quarter ends up but I think it's -- 97% of our business is going to outperform what we thought from originally what we had budgeted. Ron Kamdem: Thank you. David Simon: Sure. Operator: Our next question is from Caitlin Burrows with Goldman Sachs. Please proceed. Caitlin Burrows: Hi, good evening everyone. David, I know you gave some numbers on recent leasing activity which sounds really strong. I was wondering if you could give some additional context maybe to how that leasing activity compares to recent and pre-pandemic years, maybe what that means for pricing and how that could impact permanent occupancy? David Simon: Well, thank you, Caitlin. So I would say, let me try and address your questions in no particular word. I think we'll be, year-end occupancy will be obviously higher than it is today. I don't know that it will be our highest ever, but it it'll be within distance pretty close. Even with all the volatility in the world and the market, we still expect -- we still see demand very strong. I mean, we're -- frankly, we're cautious, we're waiting for shoes to drop, but we haven't seen it on our new deals, whether it's F&B, entertainment, high-end luxury tenants, athleisure, just to name some categories. We're seeing -- we're still seeing a lot of demand on that front. And I would say from a pricing element, we feel -- I would say we feel comparable to the way we felt in ‘15, ‘16, ‘17 era, in terms of era. I guess that was almost seven, eight years ago, but lots happened over those seven or eight years. But we still feel like that's kind of -- we're in that good shape where we're driving rents up and it's okay for the retailers. They're making deals and supplying deman

Verify independently

SEC filings for SPG · Claim quote is verbatim from the 2023Q3 earnings call.