Thank you, and good morning. On today's call, we have CEO Eric Grosse and CFO Robert Kaiden. Yesterday afternoon, we issued our press release announcing our first quarter 2024 results, which is available on the Investor Relations page of our website at investor.inspirato.com. Before we begin, we remind everyone that some of today's comments are forward-looking statements, including but not limited to our expectations of future operating results and financial position, guidance and growth prospects, business strategy and plans, and market position and potential market opportunities. These statements are based on assumptions, and we assume no obligation to update them. Actual results could differ materially. We refer you to our SEC filings for a more detailed discussion of additional risks. In addition, during the call, management will discuss non-GAAP measures, which are useful in evaluating the company's operating performance. These measures should not be considered in isolation or as a substitute for financial results prepared in accordance with GAAP. Reconciliations of these measures to the most directly comparable GAAP measures are included in our earnings release. With that, I'll turn the call over to our CEO, Eric Grosse. Thanks, Kyle, and good morning, everyone. On today's call, I'm excited to discuss our first quarter results and our strong start to 2024. As you can read in our press release, Q1 marked a period in which we generated profits on both an EBITDA and net income basis. This is the first time we've delivered profitability against either metric in more than three years. Our Q1 results are a testament to the hard work throughout the organization and represent the third consecutive quarter of delivering results in line with our plan. As I mentioned in my remarks last quarter, just as our members trust us to deliver memorable experiences for their families and loved ones, we are also committed to building trust and credibility with our shareholders and broader investment community. We believe our Q1 results demonstrate that commitment. While we spent several quarters articulating our heightened focus on execution and driving operating efficiencies, these efforts do take time, and our Q1 results reflect a meaningful step towards sustained profitability. In Q1, we also began to reap the benefits of our work centered around our core products. When reimagining our portfolio, we asked ourselves questions like, "Are our products functioning well on a standalone basis in conjunction with one another, and do they align with our membership satisfaction and profitability goals?" Some actions were more straightforward, like lowering our ADRs to give more value to our members. In Q1, our Residences' ADR was down on a year-over-year basis, and one of the drivers is paid Residences' nights increasing per member over the same time frame. In fact, our paid nights delivered as a percent of total nights delivered marked the highest level since the first quarter of 2022, a time when leisure travel was at an absolute peak. Other actions, like reimagining Inspirato Pass, took a lot of work. So far, results have lived up to expectations. We set out with the goal of positioning Pass for the frequent and flexible traveler. One key change we made to make Pass more appealing for the last-minute traveler was the introduction of FlexTrips. FlexTrips serve as a way to improve members' ability to book more close-in trips with significant value. Since its launch in mid-February, more than 800 reservations and more than 25% of all Pass trips booked have been FlexTrips. Even more impressive, approximately 80% of FlexTrips reservations have been for stays beginning within 60 days. In some cases, this is inventory that otherwise would have spoiled. While these changes have been welcomed by many of our Pass members, as we expected, they haven't been for everyone. At the end of the quarter, we had approximately 2,100 Pass subscriptions, down approximately 350 compared to year-end 2023 and in line with our expectations. Importantly, Pass nights delivered per Pass member and Pass reservations per Pass member have held steady, which means we're offering great value. Pass is also more profitable now and fits in better with our portfolio overall. Pass nights represented 30% of total nights delivered, down from the 40% levels we alluded to in our last call. All in all, we're approaching a much more sustainable, healthy, and profitable travel mix in our portfolio. With respect to club membership, we continue to focus on selling longer-term contracts to stickier prospects. We're focusing these efforts not only on new member sales but also with multi-year extensions for current members. Our goal is to identify and solidify our core, which are members that love to travel and appreciate the unique elements of the Inspirato community. We view longer-term members and initiatives that further refine our offerings as important building blocks to grow our member base over the long run. That said, in the short term, it's apparent that we must double down our efforts to reinvigorate our member base and product offerings. While we've put in the work from a cost structure standpoint and have achieved our near-term profitability goal, I'm a firm believer that our path to lasting success lies in driving sustainable, profitable growth. As I've outlined on previous calls, our first objective is to reengage our members to drive increased travel and further entrench them as true members of the Inspirato community. While these efforts have led to churn of more idle members, which is apparent in our subscription count, we've also been successful in increasing the amount of travel revenue per member, which is a sign of a more active and engaged community. Next, we can turn our attention to continuing to refine our offerings, which we expect will further improve retention over the long run. I believe that the combination of a more engaged member base and a more aligned and profitable product portfolio will position us well to increase growth investments in 2025 and beyond. And with that, I'd like to turn the call over to Robert to discuss our results in more detail. Robert? Thanks, Eric. As you mentioned, I'm pleased to report our first quarter results highlighted by profitability, expanded gross margins, and solid travel behavior. As such, we are reaffirming our 2024 guidance range of $275 million-$305 million of total revenue, Adjusted EBITDA between a gain of $5 million and a loss of $15 million, and cash operating expenses between $115 million and $125 million. In the first quarter, we generated total revenue of $80 million, a 12% decrease year-over-year. Importantly, Q1 total revenue was once again largely in line with our internal expectations. Subscription revenue decreased 23% year-over-year due to the decrease in Pass subscriptions that Eric referenced, as well as an 11% decrease in club subscriptions. In total, we exited the quarter with 12,300 members and 13,000 active subscriptions. Travel revenue decreased 10% year-over-year, largely due to the decrease in members as opposed to travel behavior. In fact, there are several data points related to travel that I would like to highlight. First, due to our decision to proactively lower ADRs, launch Inspirato Rewards, and stand up our member success team, as well as improve Pass functionality, our paid nights delivered as a% of total nights delivered has returned to levels we haven't seen in two years, 63% in Q1. Second, we have been successful in our members traveling to our residences' inventory. Compared to last year, we have a nearly identical number of paid nights in our residences despite having fewer members. While there is an uplift in each of these figures due to the nights associated with Inspirato for Good and Inspirato for Business, we're still encouraged by these early trends. Third, our Inspirato Only Experiences and bespoke custom travel continue to be member favorites. For example, just last month, we launched six safaris and two golf excursions, all planned for 2025, that nearly all sold out within days. Finally, while travel in Q1 delivered upon many of the metrics we track, we are continuing to see some softness in bookings impacting Q2 travel. As such, we have our eye on how our calendar builds in for the remainder of the year as we continue building upon some of the positive trends of Q1. Rounding out the travel discussion, we had 80% total Residences' occupancy compared to 77% a year ago, with ADRs down nearly 10%. Occupancy in our leased hotel rooms also improved to 73% compared to 71% a year ago while maintaining flat ADRs. Moving to cost of revenue, Q1 marks the first quarter where we realized significant lease expense savings associated with our portfolio optimization efforts. Year-over-year, total available nights at our leased properties decreased by approximately 20% to better align with our member base and portfolio realignment, whereas our lease expenses and fixed costs were down approximately 25%. This is an indication of not only our flexibility in terminating expensive lease agreements but also our effectiveness in renegotiating terms along the way. While we expect further improvement in the coming quarters, the vast majority of savings were captured in Q1 and played a large part in expanding the gross margin as a percent of revenue to 40% in the first quarter from 35% in Q1 last year. In terms of cash operating expenses, which is a combination of G&A, sales and marketing, operations, and tech and development, excluding stock-based compensation depreciation, total expenses in Q1 were approximately $29 million or 36% of revenue. This compares favorably to expenses of $36 million or 39% of revenue last year. In total, and as mentioned previously, we generated positive Adjusted EBITDA of $4.1 million compared to an Adjusted EBITDA loss of $3.1 million a year ago, an improvement of more than $7 million. While this is a nice milestone for the company, it is merely the beginning of what we hope to accomplish in the long run. It is also important to remember that our business is subject to seasonality from a revenue, Adjusted EBITDA, and free cash flow perspective. In Q1, we experienced solid levels of revenue and EBITDA due to the amount of travel delivered relative to other quarters. We also further improved our cash burn to $9 million compared to just over $20 million in Q1 of last year. In Q2, a period in which summer and even next winter travel is booked, we expect stronger performance in our free cash flow and less cash burn with lower revenue and EBITDA compared to the first quarter. In terms of cash, we exited the quarter with $33 million compared to $42 million at year-end. We have a keen focus on our liquidity and have several operational initiatives underway while we explore potential financing options to bolster our overall liquidity. Finally, I want to thank our employees for the continued hard work and our members for their continued support. We've shown meaningful progress over the past year, and I'm excited to continue executing our long-term plan. With that, I'd like to turn it over to the operator for Q&A. Thank you. As a reminder, to ask a question, please press star one one on your telephone and wait for your name to be announced. To withdraw your question, press star one one again. One moment while we compile the Q&A roster. Our first question will come from the line of Brett Knoblauch with Cantor Fitzgerald. Your line is open. Hi guys. Thanks for taking my question, and congrats on the quarter. Maybe if we could start with just Residences' occupancy, very good year-over-year to levels not seen in quite a while. I guess, what do you think is the upper bound on Residences' occupancy rate? Yeah. Hey, Brett. It's Robert here. Thanks for the question. Yeah, we're really pleased with getting to 80% this quarter. There's obviously a balance we want to achieve. We want to make sure that we've got our Residences available for all of our members who want to travel, and at the same time, we want to optimize our occupancy rates. I think we've got probably a few percentage points more that we could go in an ideal world than this. Obviously, there's always weeks that get broken that you're never going to be able to fill in. There's maintenance that we like to do to keep our properties in top shape, but there's probably a few more percentage points in an ideal circumstance. Awesome. Then, I guess, residents as a percentage of total nights delivered, I think it was 66% up from 60% last first quarter. I guess, where do you expect that to go? I would assume you're continuing to de-emphasize hotels in lieu of Residencies. Do you think that's a percentage that could get to 70%, 75%, 80%? Yeah, I think we have a fairly good balance. What we're trying to make sure we accomplish is that for our members, we're giving them the geographies that they want to travel in and the types of accommodations that they want to travel in. Clearly, our luxury residence is at the heart of what we do and what people need, but there are some folks who want to travel to locations where it's not practical to have a residence in some urban locations, or they really need a smaller residence because they're just traveling with one or two people versus a larger group. So directionally, I think the balance is fairly right. I think one of the things, though, we are trying to accomplish is to get the mix between our paid occupancy and our overall occupancy improving. And you've seen some of that this quarter where we've increased the percentage of our paid occupancy through a combination of factors, including trying to right-size the Pass portfolio and making sure that Pass is designed for that flexible traveler who wants that off-season or who wants that close-in inventory. And so by that, we've been able to, with a smaller portfolio, increase the percentage of paid occupancy. I think in the past, you guys talked about Pass being unprofitable. How has the introduction of Flex Trips altered the economics on Pass? Sure. Thanks, Brett. This is Eric, and we're really happy with the changes that we've put in place for Pass members, and we're encouraged by how they're really taking advantage of more last-minute opportunities. So as an example, 25% of trips booked since we made the changes have been Flex Trips, and 80% of those Flex Trips have been for stays within 60 days. So we're basically moving more of our Pass holders more towards flexible, spontaneous, last-minute trips, which overall sort of helps us manage our portfolio as a whole. So that's overall encouraging trends, and we're very pleased with what we're seeing. That said, we are seeing some churn. We are seeing a decrease in the number of Pass holders, and that was expected. And I think that's really driven by a couple of factors, but mainly, not everyone that was previously and originally had signed up for Pass really was expecting and desiring last-minute trips. So those folks are falling off a little bit, but what's really good to see is that the members that have joined since we launched Flex Trips are really taking advantage of how we're designing the product. And again, I can't emphasize enough how important this is for our overall portfolio health as a whole. Pass is much more of a strong economic product for us and plays a very, very important role in terms of handling excess capacity for our overall residential inventory as a whole across the Inspirato network. Awesome. Maybe just on subscribers. I know you guys talked about your goal was to return to sustainable and profitable growth, and I think a big part of that equation is getting subscriber churn to plateau and ultimately reverse the growth. It's now been several quarters of current churn in a row. I guess, do you have any visibility into when the end might be in sight for that and when we could expect growth to return? Sure. Sure. This is Eric again. And in terms of the driver behind some of the trends that we've seen around member declines, I alluded to some of what we're seeing with respect to Pass. With respect to Club, what we're really doing is focusing on member engagement and really, really long-term retention. So that means, in practice, kind of de-emphasizing sort of month-to-month memberships and more focused on multi-year relationships, not only for existing members but for new members as well. So that is changing the dynamic and changing how our members are growing. We've also, 2024 has really been and is really being a year around operational efficiency, solidifying our foundation, leveraging the cost structure improvements that we've put in place over the course of the last several quarters. You'll recall that it's about $50 million of OPEX efficiencies that we've generated, which will really help us in 2024 positioning Inspirato as a whole for not only returning to growth but to really return to profitable and sustainable growth. And we expect that dynamic to really start to switch towards the end of this year, going into next year. And we do believe that there's a lot of platforms for growth in 2025 and beyond that can be really successful for Inspirato. Partnerships have been very healthy for us. Capital One is a great source of mid to long-term growth, and there's a lot of things that we do, more broadly speaking, with respect to managing high-end residential inventory to delivering pretty amazing premium experiences for our members that make us confident that once we get the fundamentals right, there's a long runway of growth ahead of us in 2025 and beyond. Thank you. Maybe a model question on Gross Margin, and if you could tie it into Controlled Accommodations, which we're down quite significantly. I'm assuming a lot of leases finally rolled off. I guess, where do you see that trending for the rest of the year on Controlled Accommodations and likely and I guess, similarly, could you talk about where should we expect Gross Margin to go from here as well? Yeah. Thanks for the question, Robert, again. So yes, we're really happy. We've been talking about our gross margin pickup with a reduction of controlled accommodations for many quarters now. As we've said in the past, it was going to take some time with terminations between 180 days-365 days, generally. So we're happy with the 40% we got to this quarter. We will continue to see a slight decline the rest of the year, kind of quarter-over-quarter, in the overall controlled accommodations numbers. That's, again, because they were rolling off between 180 days-365 days, and we started this back in the May and June timeframe. We've had some of the longer ones that are starting to roll off now, some of the shorter ones that have also rolled off, but we've got a few more to go. So there'll be a little bit of improvement, but this was really the big quarter for it. And then in terms of gross margin, as you know, gross margin is really impacted by, with a fairly now fixed cost in terms of the cost of revenue line with the leases. The biggest impact is going to be around the revenue. And as we've talked about before, we have seasonality in our revenue. Q2 is historically the low point, low quarter of the year from a revenue perspective, and so we would expect to see lower gross margins in Q2. And then we have some improved seasonality rolling into Q3, and we'll see margins start to pick up there as well. And then longer term, we hope to continue to be able to drive in 2025 our margins as we start to pick up on our revenue as well, and optimize really the portfolio that we have. We'll be able to continue to improve our margins. Awesome. And then maybe just one last question for me, just on Capital One. Can you just give us an update on where we are in that process? Have those members been able to access the inventory yet? If not, when will they be able to? And maybe just talk about if that's embedded in your guidance for the year at all? Hi, this is Eric. Yeah, we're pretty excited about Capital One. I think we've been consistent about that level of enthusiasm over the last couple of quarters. They've been a terrific partner for us. What's happening right now, literally as we speak, is our teams are continuing to work on technical integration, and we're on track to sort of kick things off and to make Inspirato inventory available in the back half of this year. That's consistent with the guidance that we've given. We expect relatively modest volumes as we sort of test and ramp up the relationship in 2024, but we do hope and expect that it can be a very, very big demand driver for us in 2025 and beyond. But it will start, to be clear. We do expect it to begin in the back half of this year. And of the inventory that will go on that platform, sorry, just one more. Is that. Yeah, sure. Is that the inventory maybe approaching those dates approaching that hasn't been booked yet that'll be going on there? So it'll be more for shorter-term bookings, or is it going to be more skewed to residences or hotels? Yeah, it's really going to be Residences-based, and we have fences and designs into the product itself to ensure that we're not creating any challenges for the experiences of our existing members. So we really view this as a great way to give folks that aren't Inspirato members a taste of the Inspirato travel experience, which really is differentiated when people experience the Inspirato travel for the first time. So we're doing that in a way that I think is very responsible with respect to what we're doing to optimize our overall portfolio from a Residences occupancy standpoint and at the same time making sure that our members are getting a great experience. Got it. Thank you guys so much. I appreciate it. Thanks. We appreciate the questions, Brett. Thank you. One moment for our next question. That will come from the line of Mike Grondahl with Northland Securities. Your line is open. Hi, this is Logan Hennen on for Mike Grondahl. First off, congrats on the quarter. Could you guys provide some additional commentary about your top two priorities for the rest of the year and how you're feeling going forward? Thank you. Oh, I'm sorry. I just didn't hear the question. Can you just, Logan, do you mind repeating it? Yeah, yeah, of course. First off, just said congrats on the quarter. Can you guys provide some additional commentary about your top two priorities for the rest of the year and how you're feeling? Oh, so if you're referring to sort of our capital priorities and our cash priorities, we're first and foremost making the necessary operational improvements to get us towards break-even for the year. That is something that we're pushing hard for, and we view that this quarter as a first step. I think another component of it is our cash balances as well. Although we've made significant improvements on a year-over-year basis with respect to our cash, where our burn for the first quarter was around $10 million, that has significantly improved from where we were a year ago, but we still want to improve that further. So that is a combination. In terms of how we're attacking that, we're improving occupancy levels. We're driving engagement levels and nights per member. We want to continue moving that sort of in a more positive direction. There's been a lot of activity around our semi-annual sale that we recently disclosed to basically drive more occupancy and drive more travel across our member base. We're also, as Robert alluded to, continuing to really drive more efficiencies across our operating cost infrastructure, in particular with our leases. We believe that these efforts will help position the company for a stronger financial outlook. That said, we do understand that a stronger balance sheet would be a very, very good thing, and we're actively looking through and across sort of all avenues to see what possibilities may exist that are effective and work for members, shareholders, and our constituencies. Perfect. Thank you. Just one last question. What additional measures have you guys been taking to drive better bookings during this year, and what will you be doing in the future for that? Thanks. Yeah. So this is Eric again. Thanks, Logan. So we are encouraged on one standpoint that we're seeing revenue per member sort of improve, but that's a little bit of a backward-looking metric. And if we look at sort of bookings per member, that's been kind of flattish a little bit down. And there's been a lot of activity that we've taken on to basically drive that in the direction that we want. First is by being more aggressive around our overall ADRs and sort of taking those down. And then second, we are looking at other ways in which we can stimulate demand, particularly through our semi-annual sale that just closed last Friday. And there's other initiatives too, like our rewards program that have been a big push to encouraging our members to travel more frequently. One thing that's great to say is that just since we launched rewards last fall, about 50% of our members already have some status, which is terrific. And then a third of those members or excuse me, a little bit more than a quarter of those members are already in our highest tier. So that suggests that there is a really good engaged cohort of travel members or excuse me, members of Inspirato that do travel frequently with us and really value it. Our objective now is just to spread that kind of enthusiasm across a wider portion of our member base. Thank you. Congrats again on the quarters. Thanks, Logan. Thank you. I'm showing no further questions in the queue at this time. I would now like to turn the call back over to management for any closing remarks. Terrific. Thanks for bearing with us. We apologize for the delay in the start. We had some technical and communication issues, but we don't want that to underlie our enthusiasm for returning to profitability this quarter. So thank you very much for the questions and for the engagement, and we look forward to staying in touch in the quarters ahead.