So there’s certainly some very specific strategic assets that we’ve got moving in place which are going to be a great tailwind for us. But I think the bigger tailwind is really having our brands perform across their core markets, to their core guests, to the best of their abilities.
David Katz: Thank you. Appreciate it.
Operator: Our next question comes from Brandt Montour with Barclays. Please proceed.
Brandt Montour: Hey, everybody. Good morning. Thanks for taking my question. Josh, when we look at your per diem growth for ’24 guidance and we think about what went into that and we rewind the clock six, nine, 12 months, we remember that you guys were what we call — what you call base building for ’24 throughout last year, and it was a pricing environment that arguably isn’t as good as it is now. And so I guess the question is, when you think about where you were last year and where you are this year, is the strategy going to — do you feel better and is the strategy any different when you’re thinking about base loading ’25 and where we could be in 12 months from now thinking about pricing growth?
Josh Weinstein: Yeah, I mean, I do feel better. I feel better because we have another year under our belt of our brands, really focused on optimizing their booking curves. We’re doing it in an environment which we get the benefit of, let’s call it a full year of somewhat normal, whereas last year, depending on the brand, it was a struggle of trying to fill short-term and think long-term. This year we — because of what we’ve been able to build going into the year, we — I mean, it’s historical. We have the ability to really lean in even more into optimizing from a strategic perspective as opposed to plugging holes along the way, which we were focused on as well last year. So I think the future is quite bright.
Brandt Montour: Okay, that’s helpful. And then you guys did touch on the EA brands and the European brands and how they’re doing. I was wondering if we could just sort of double-click on that and talk about — and maybe you could tell us those brands’ recovery versus ’19 and how they’re tracking versus your North American brands and just sort of split it out between occupancy, ticket and onboard and sort of what inning those brands are in across those three metrics. That would be helpful.
Josh Weinstein: So, let me give you — I’ll give you overall, and David, if you want to add some color, certainly feel free. I think the biggest difference between the brands by segment, when you think about this year is the huge occupancy jump that the European brands are making year-over-year. And it’s an occupancy jump that was really focused primarily on the first half of the year. And then it all started to normalize a good amount more as we got to the second half of last year. From a pricing perspective, from an onboard spending perspective, and as we make our way through this year from an occupancy perspective, everybody is moving on both sides of the Atlantic in a positive way. So this — as expected, we knew that the European brands would be an outsized driver of yield improvement for us simply because of the occupancy. But I can tell you this, they’re not doing it at the expense of price. Our European brands are getting price and occupancy.
Brandt Montour: Okay.
Josh Weinstein: David gave me a thumbs up, so I hope that answers your question.
Brandt Montour: Great. Thanks, guys.
Operator: Our next question comes from James Hardiman with Citi. Please proceed.
James Hardiman: Hi. Good morning. So maybe just to belabor that last point about occupancy, it seems like at least part of the first quarter success was occupancy was better than you thought. I’m assuming we’re at a place now where it’s not just about filling rooms, it’s about filling rooms with more people to get to higher occupancy. So what drove that outperformance? And is there a way to think about the full year and/or the second quarter occupancy number? Obviously, there’s a wide range to what could be considered historical. But I don’t know, versus 2019, how should we think about occupancy this year? Thanks.
Josh Weinstein: Hey, James. So I think David talked about last quarter, the historical range, we’re talking 104 to 107, and 2019 was the peak at 107. That may or may not be the right ending point for us. And I’m not trying to be vague, because we want to give our brands the flexibility to not optimize for occupancy or price, but it’s about yield. It’s about the combination of both. So I feel quite good about where we are. We did beat a little bit in occupancy, and we also beat a little bit in price in the first quarter, which was good to see. And from my perspective, I’d like us to outperform on both every single quarter. So, yeah, there’s no games here. I expect us to be well in the historical range, and we’ll take it and our brands will take it as far as they think it should be in order to get the price combination along with the occupancy.
James Hardiman: Got it. And then, yeah, go ahead, David.
