So, where does that all net us out? I think there’s a range of outcomes that we have put into the guide. I think that there is on the low end the possibility that in 2023, we could see that home count declines on a year-over-year basis on kind of a longer term run rate. I’d say that we kind of have to give ourselves a little bit of time to see what we’re able to do on individual sales approach, right? With T.J.’s leadership, with these new processes, I think we feel very positive that that we’ll be able to make some progress there. But I think that’s — it’s too early to make a call there on kind of the longer term. In terms of the local costs, so in Q4, we underwent an exercise where we really scrutinized the business. We looked at it market-by-market, and we took action in Q4 where we were able to staff down to demand a little bit quicker than we had anticipated in the guide in early November.
And also just managing hours really aggressively, making sure that we didn’t have people — staff too much based on reservation volume or units and what we needed in the market. This also helped to inform the reduction in force that we did in January and really again optimizing for service levels. So, that was a major step taken. As we look forward at additional efficiencies, I’d say that those probably are going to — we’ll continue to manage around optimizing service levels, looking at market levels, and making sure that that staffing is optimized. But I think the bigger unlocks can come from the product development that Rob mentioned is largely going to be focused on the efficiency of our local teams and our sales team. So, I’d say too early to give any meaningful update there, but that’s really what the technology team is focused on.
Eric Sheridan: Thanks.
Operator: Our next question comes from Mike Grondahl from Northland Securities. Please go ahead, your line is open.
Owen Rickert: Hi guys. This is Owen on for Mike. I was just wondering if you can provide any color on how spring break bookings may be performing if this has any indication for summer performance?
Jamie Cohen: Yes, absolutely. So, look kind of on the whole spring break is coming together well. I’d say similar trends that we’re kind of seeing overall in the broader business. In that, one, we are seeing that gross booking value per home come down, which is a combination of the bookings per average home or night sold per average home, and the gross booking value per night sold. So, the other dynamic that we’re seeing here is that there have been fewer last-minute bookings made. We’ve been able to drive bookings earlier in the curve very effectively, but optimizing price in order to capture that, which is resulting in that dynamic that I just mentioned. So, hard to say exactly what is driving the trend. I think it’s just kind of the overall ecosystem that is a bit influx within our specific sector of the market.
But that’s kind of what we’re seeing for spring break and I’d say that’s consistent with the — reading the early tea leaves as we as we look forward, but there is still a lot of time to come before we get into peak season.
Owen Rickert: Okay. Thank you.
Operator: We have no further questions. This will conclude today’s conference call. Thank you for your participation. You may now disconnect.
