Jed Kelly: Got it. And then just as a follow-up. I don’t know if you said this in your opening remarks. I might have missed it. Can you give us a breakdown on what we should expect between — for the guidance for between subscription revenue and travel revenue for this year?
Brent Handler: I’m going to give that question over to Web, but I just realized I forgot to answer your question about experiences. My apologies. Let me quickly touch on that. Inspirato has an unbelievable experiential travel platform that we make available to our members. Some of that is done through what we call Inspirato Only, which is experiences that are time and date specific where it’s only with other Inspirato members. That business has been growing very rapidly and doing very well. The other business that we have, we call Bespoke, which is where we do customized travel itineraries for members that want to experience the world with us, and that business is doing very well also. Those are really lower-margin member benefit types of businesses for us.
While we’re focused on providing that as an amazing benefit for our members and, obviously, we’re just obsessed with this high NPS and with the member satisfaction and the high retention we’ve been fortunate to enjoy for the last over a decade, but really the focus and the story this year is optimizing our risk portfolio and making sure that we fill that capacity and make it available to members at great value so that they’re getting even more out of their experience. And let me go ahead and pass it over to Web to answer your question about occupancy and the delta between a Pass (ph)?
Web Neighbor: Hey, Jed. This is Web. In terms of responding to your question on the mix of revenue embedded in our guidance derived from subscriptions and to travel, the first thing I would highlight is the emerging pipelines that Brent referenced, $7.5 million already in sales to-date in our Inspirato for Good and Inspirato for Business. Those have per gap a combination and a sub allocation of revenue between subscriptions and between travel. So, I want to highlight that, as those grow, that could change our mix and change our shift, and we believe that those have a chance to be, based on early returns, very significant drivers of our business as you’ve seen on the results so far. Overall, we’ve been running at approximately 55%, sometimes a little bit higher up to 60% on the travel side, therefore, 35% to 40% on the subscription side.
We would anticipate that all in, our 2023 results, as we’re estimating looking forward, will continue to be reflective of approximately that mix.
Jed Kelly: Got it. And then, can you — do you have any idea what that implies for a blended ARPU with all your subscribers?
Web Neighbor: We don’t have that and we don’t project that going forward, Jed. But along the lines of as I referenced at the outset, the additional disclosure we’re providing, that’s something that we can take into account as we continue to produce new metrics every quarter.
Jed Kelly: Thank you.
Operator: Thank you. One moment please. Our next question comes from the line of Mike Grondahl of Northland Capital Markets. Your line is open.
Mike Grondahl: Hey, guys. Two questions. The first one is, I know the last week of the year, the last week of December, you guys had a big sales push. Any metrics you can give us how that went compared to prior December’s? And then, secondly, could you maybe describe the Saks program, which looks really interesting? How are they going to be incented or compensated, i.e., if they sell a Pass subscription, what is their take on that? And I know you said they could get up to 15% of company if it works really well, but what do they kind of need to hit to get to the first tier or some piece of those warrants?