Is Hospitality More Fragile Than It Looks?

On this week’s Good Morning Hospitality, A Skift Podcast: Hotels Edition, Sarah Dandashy and Steve Turk break down a growing debate across the hotel industry: are brands mistaking temporary strength for long-term stability? From luxury demand and premium travel to pricing power and loyalty, the industry may be more vulnerable than executives want to admit.

They also explore why Hilton and Marriott International CEOs cannot agree on what kind of economy the industry is actually in, TikTok’s new push into turning travel videos into bookable inventory, and OpenAI’s latest move to operationalize AI deployment across travel companies through the team behind Virgin Atlantic’s AI concierge.

This episode is presented by ⁠⁠Plusgrade⁠⁠ & ⁠⁠Bilt⁠⁠. Visit plusgrade.com to learn more.

And for hotels with restaurants and restaurant owners, Bilt Hospitality is finally here. Go to ⁠⁠joinbilt.com/gmh⁠⁠ to learn more.

Watch This Episode

All right. So today we are talking about a word the hospitality industry loves to use, resilience. But what if resilience is actually hiding a deeper problem?

We’ll get into a sharp new argument about whether hotels and airlines have mistaken peak conditions for permanent demand. Hotel CEOs debating what kind of economy we’re even in right now. Also, what letter alphabet it’s correlated with.

TikTok turning travel videos into bookable inventory. We’ve been waiting for that for a while. And OpenAI building a deployable business around travel.

Let’s get into it. Oo-wee, good morning.

Good morning, Sarah. Welcome back. We missed you last week.

Yeah, I was about to say, did you miss me last week?

For sure.

Listen, Katie Klein did great, but the partner in crime was missing last week. I know you were traveling and doing, I think you were on a plane at that time, or giving a speech, or what amazing thing were you doing last week? Something.

Oh, well, exactly at this time, I was on a plane.

So that is the whole thing. When you’ve got East Coast or West Coast to East Coast, I have to hop on those early morning flights. And sometimes it just, that is the way that it works out.

But yeah, I know that’s the way it is sometimes. Exactly.

Well, you’re back. Well, I was in Charlotte, North Carolina over the weekend, which is always great. I love visiting Charlotte.

Tell me about that.

Charlotte sounds awesome.

I love visiting.

I love to see you travel.

Family and I got the whole family coming to see my grandmother, who’s 93. So I got my mom, my grandmother, my brothers, everyone was there. So it was awesome to do that.

And made at the AC Marriott, my first time staying at an AC Marriott. And what do you think? I was very impressed.

Right. So we talk about luxury and then the bargain. But this mid scale, they were doing.

Oh, all right.

We got a little Wi-Fi. Oh, there you are. You’re back.

I’m back.

Sorry. They do something in their lobby, which is very cool, is that they put out a little like treat in the morning, which was like a shower steamer and say on a little cart that said, hey, try this in your shower. It’ll eucalyptus men.

And you put it in there. And it was just a nice touch for them to have there. It was very cool to see.

But I like how they’re doing all those small touches in that hotel. Just a good brand overall.

Yeah, it is. It is a good brand. I mean, again, it’s, to me, what I really like about AC Hotels is it’s kind of perfect for those shorter trips, something that you don’t need a whole lot.

You kind of just need a nice, clean, easy room to stay in while you’re traveling. And you’re probably not spending a lot of time in the room, but you just want some place nice and clean and safe to come back to.

So yep, I loved it. So it was a good spot. Good job, AC Marriott Charlotte.

Yeah, I love that.

Look at you going to Charlotte. Wait, is it Charlotte, the airport where they have rocking chairs in it?

They have rocking chairs all throughout. Yeah.

Yeah.

That’s a good spot. You got a good memory. A lot of people hanging out, looking out onto the runways, checking out all the planes coming in and out and the rocking chairs.

I always think that’s so funny.

So yeah, definitely a great spot. So last week, I was in New York. I don’t know how much I can share, but I’ll share a little bit.

So I was in New York filming something for our friends over at Travel and Leisure. I’ll just say that. How about that?

So stay tuned for that because that’ll be very cool when that ends up coming out. But yeah, that was kind of fun. And and then yeah, wait, hold on.

We’ll have to talk about this. Maybe we’ll talk about it towards the end. I ended up going to dinner in Las Vegas at Pappy’s Steak.

And I bring this up because.

Pappy’s Steak.

Well, whatever.

You gotta say, oh, that Pappy. Pappy.

Pappy. I was with a lot. I was with a bunch of like random East coasters.

They were like Pappy. They kept saying like, I was like, no, it’s like Pappy. Like I Pappy and then whatever.

Anyway, so Pappy, dude, the $1,000 beef, beef steak.

Did you open it? Did you buy it?

No, they did not buy it, which is crazy because they actually had the funds to buy it. But when they looked at the prices, they were like, this is insulting. It was the one guy’s birthday.

I was like, dude, if you’re going to go get a thousand, they’re like, it’s $1,000 for a 55 ounce steak.

Listen, they bring the steak out in a briefcase with like sparklers, and you open it and it’s flowing.

Everybody’s like out, they’re cheering. It’s the scene.

It’s the flash. It’s the Miami flash that they’re trying to bring to Vegas with the Grutman group, and they do a great job making a scene and making things celebrate. But yeah, it’s over the top.

It’s wild.

But I think it’s appropriate for a birthday, and it was pretty full, and the number of people that ordered that beef case over the course of that dinner, and I’m just like, cha-ching, cha-ching, cha-ching. So they’re doing all right in Fontainebleau.

Yeah, I love the Fontainebleau. Yeah, very pretty hotel.

Great spot.

Well, okay.

Why don’t we go ahead and get into, would you like to take charge here on our first sponsor?

Absolutely. Listen, we always love when we got sponsors supporting us. It makes the show great.

We can do so many fun things with it. We want to give a shout out to Plusgrade, and Plusgrade helps travel companies unlock new revenue through upgrades, premium experiences and personalized offers across the traveler journey from airlines to hotels.

They’re pairing a lot of the behind the scenes monetization you’re seeing across travel today. So learn more at plusgrade.com.

There you go. Well done, sir. Well done.

7:08

Hospitality Resilience Questioned

Okay. So that being said, I found this kind of interesting. Our first topic today, the most dangerous word in hospitality right now is resilience.

I kind of love it. When I first read it, I was like, wait, what? So obviously luxury hotel demand in cities like London, other big cities have been driven more by favorable market conditions than long-term structural demand.

So operators, they’ve expanded aggressively into high-end supply while just relying on a narrow group of luxury travelers and source markets.

So this whole argument of resilience, it often means just like returning to the same sort of the same vulnerable business assumptions, even though the landscape is changing.

Yes.

So I mean, I think there’s a lot of validity.

There’s a lot going on. We keep saying for the last couple of years how luxury is what really is pushing these hotels to really be profitable. And that’s what most people are spending their money on.

But they’ve lost a lot of the middle. And while that was going on, more and more luxury hotels kept opening. And these markets.

Look at London. You have so many luxury properties right now. There’s only so many people that are spending one thousand, twelve hundred, fifteen hundred dollars a night on these kind of properties.

That’s pounds too, which is even more.

Even more.

And so, they’re saying how resilient can these be? Do you just stay strong and you hold the rate and not change much? What will be happening?

So, it’s interesting to see what these hotels are going to be doing and how they will continue to adapt because there is a lot of things going on in the world. We talked about it a couple shows ago, right? We know there’s a war going on.

Prices of gas are getting much, much higher. Prices of flights are getting more expensive. For the everyday traveler, it really is expensive.

I had to cancel a trip because all of a sudden what I was expecting to pay doubled, right? And I was like, oh my gosh, this is crazy. So I had to delay a business trip that may have made something happen.

It just wasn’t worth the value at that time.

It’s crazy. I’ll just say this and we’ll kind of come back to that. I’m going to Amsterdam in about 10 days.

An economy ticket is $4,000. If I’m trying to be there for like five days, if I stay for a week, I could have gotten the economy ticket for $2,000. Now that’s probably like $2,700.

But economy is $4,000. And it’s crazy. And I keep like, how can I wiggle around this?

Can I use points? All of that. And it’s like, nope, every which way.

And the flight is not even full. So then at a certain point, it’s like, what are we doing here? They’re just going to fly a half empty plane because they’ve got the prices so high.

I mean, yeah, I just I don’t know what will happen, right?

Especially in business travel, like this was a business travel for me, a business travel for you, and I had to put it on hold.

And so I think it will start to really see a lot of these impacts three months from now when those hotels start reporting their earnings after this quarter to show, look, people weren’t traveling as much.

I think the mid-scale will actually see a boost now because people are going to look for that value in these hotels.

100%. 100%. And what was interesting going back to this article is, we’ve been talking about this for some time, this whole premium push.

So yes, it’s like there’s been such a focus on the premium push that, wait a second, what about, for example, like in hotels, what about the, could be argued, the aspirational luxury traveler, the ones that are totally okay paying between 600 and

1,000 a night. You know, they’re not really paying attention to them, but they, as you mentioned, seem to be pretty durable. You know, those that are, were maybe paying a little bit more, would be comfortable going down to that rate.

So it’s interesting how just where the focus has been recently.

Yeah. So it was a cool article. I like what they put together and how they were sharing everything.

Paul says, nothing economical about that. You’re correct, Paul. There is nothing there.

We’re starting to see it more and more. I think just, look, I am not ultra wealthy like some of the people I can afford the 2,000 pounds a night.

But I traded down on this trip to Charlotte, where I normally would have stayed at somewhere a little bit more upscale. I traded down and ended up liking that brand.

So now I think you’ll see a lot of people doing that, where they’re going to travel to some brands that maybe they haven’t tried out before. So now, I think I would do that more often. So it’s going to be interesting to see how prices adjust.

Yeah.

No, they will. And again, I think just that focus on… It’s not necessarily just the premium travelers.

Like you’ve got to have, be more diversified. Kind of like what we used to be, I would say.

But again, the long-term winners really in this are going to be really the brands that end up being willing to kind of to acknowledge the diverse type of travelers there are out there and cater to more of them, so long as it makes sense for their

Well, I’m excited to see at the end of the show on whose brand is it anyway.

My favorite part of the show is one of the things that are going to be in that economical range, so we’ll see. Yeah.

Love it. Okay.

We got two sponsors today, Sarah.

We do. Do you want to do it or you want me to do it?

You’re good. You’re so good at these.

Oh, I’m so good at these. Okay. So before we move on to our other topics, quick shout out to one of our other sponsors, Bilt.

This episode is brought to you by Bilt. They are helping restaurants and hotel F&B teams better understand their guests and create more personalized experiences that drive repeat visits, which is exactly what we were talking about.

So if you care about loyalty and guest experience, it’s worth checking out. Head to joinbilt.com/gmh. Thanks so much, Bilt.

So very cool.

12:57

Hotel Economy Debate

Okay. So hotels, we were talking about this, and then I had hinted at this at the beginning here. Hotel CEOs can’t agree on what letter the economy is, which is just so funny.

Really? But what was interesting with this is that you had both Hilton CEO, Chris Nacetta, he’s basically arguing the economy is K-shaped, recovery towards a C-shaped.

What does that even mean? I was trying to understand.

I’d like to buy a vowel, please. Then Marriott CEO, Tony Capuano, also pointed to improving select service demand, but basically public performance is still showing that luxury is outperforming mid-scale.

You want to try to explain the letters of the alphabet?

I don’t understand.

I was trying to maybe get some AI to help me teach me about the K-shape or C-shape, but I understand that they’re saying that things are slowly coming back, they’re coming from the bottom and they’re coming up to the top is what people are, how

they’re traveling. But it was interesting to see on some of those reports, the growth of RevPAR is not truly in those luxury properties, it’s more in those properties that give you a little bit more space that are like the home two suites, I think

was an interesting one that where I saw the most growth. And I stayed in one and it really is the, you know, the convergence of vacation rental and hotel. So you’re getting more bang for your buck, more space.

You know, the finishings aren’t the best inside the home two suites, you’re getting more for what you get. And so I think that’s what people are going to be looking for more and more, which is interesting.

And that’s what I think we’re seeing with these CEOs really talking about is they’re starting to see the mid-scale improvement recently.

Exactly.

That’s what’s going to happen. I really think people from that top tier luxury, like we were just saying before, are going to continue to explore what’s in that mid-scale where I get some good value.

Yeah. I mean, this is very much, it kind of echoes what we were talking about a bit in the, in with the first article. The K shape economy kind of bending into C shape is kind of meaning that mid-scale is catching up to luxury.

So and both the CEOs sort of agreed upon it. They weren’t necessarily pointing to the same letter of the alphabet, which I think is just hilarious. But that’s the story is like the middle is coming back.

But it’s interesting because the data is kind of telling a little bit more of a complicated story. Because with Marriott, as their luxury ADR grew more than twice as fast as select service.

So that’s still very much K-shape because that’s very much luxury still. But they’re feeling like we’re just we are shifting towards that. So I don’t know.

I think the optimistic part that they talked about is, and I feel like we’ve been talking, I mean, I feel like I’ve been talking about this for years.

So prior to the pandemic is that there’s just been this continual shift of consumers opting to spend money on goods to experiences, and they’re still continuing to do that as we move forward. So travel is not going anywhere.

They’re just being more specific as far as what they’re going to be doing.

The other big news out of this from both companies, Hilton and Marriott, was that the fees continue for their credit cards continue to grow. This is not slowing down. This is a big money maker for all of them.

So Marriott franchise fee rose 17% boosted by their co-branded credit card fees that were up 37% their credit card fees, which is amazing. And the same for Hilton, they continue to grow rapidly.

And the other part, which is interesting, is that they’re adding so many hotel rooms. They’re saying that Marriott has a record pipeline of 618,000 rooms in the pipeline and Hilton has 527,000.

That’s a lot. That is a lot. That is cool.

I mean, to just think. And so that’s interesting, because obviously we’re going to be, you see, oh, there you are, you’re back there.

Part of it, part of that giant hotel growth is from signing hotels into their portfolio. So not building new hotels. So more of this asset light model where they’re convincing a lot of hotels in Europe to join their brands.

And that’s a big percentage of what they’re doing there. I think they says 35% of the new signings, that’s how they’re getting those rooms, is not building new hotels.

Yeah. It’s interesting times, I have to say. But again, I don’t know, I think I’m just curious to see where we’ll be.

Like I would love to just be able to see like where we are in six months or like, where are we in nine months? Because right now, there’s so much uncertainty, but like for all weird different reasons.

And I feel like we’ve been talking about uncertainty and like unprecedented times. We’re tired of talking about unprecedented times. We are tired of talking about uncertain times.

It’s like, it’s always, I mean, at least I’m tired of it.

18:00

TikTok Travel Booking

Anyway, I actually want to move on here to our next topic, which I am so excited about, because this is definitely something that I know has been in the works for a while. I even had visions of building this out in 2018.

You know, Sarah, the tech genius. But TikTok is basically turning travel videos into bookable inventory. Love this.

So TikTok did it with shopping. Now they’re doing it with travel. TikTok Go just launched in the US.

And by the way, like yesterday or two days ago, they launched, yet letting users tap a video and book a hotel or experience right there in the feed. Now, if you’re wondering, okay, how are they doing that? Who are they partnering with for inventory?

That’s booking.com, Expedia, Viator, Get Your Guide and trip.com. So what’s interesting is also not a separate tab. It shows up in your for you feed search location pages.

So that same scroll, just now there’s a book it button. And again, for those that are interested, creators can now earn commissions.

I need to do a deep dive and see like what they’re doing with their commission structure because that was something I was super fascinated with. Like how much is, how much of the pie are they giving to these, these creators?

But again, this has been something people have been talking about, asking about for a while. Do they basically build out their own OTA in inventory or do they, do they sort of like white label and then end up going through the others?

So using the API and have access to all of their inventory. But I love this. I’m sorry, I could talk forever.

So please chime in, chime in. Did you freeze when I asked you to chime in? That is crazy.

Okay. So until you hear me, am I back? Now you’re back, you’re back.

Talk, talk, talk.

I’m so sorry, everyone. We have fire alarms going off, Wi-Fi crashing here. But come to my TikTok page.

I have my first video connected to this for when I was in Hyatt Moab. I was able to upload and it asked me, oh, where are you located? I said, oh, I’m at the Hyatt place in Moab.

Then they gave me the option to earn commissions from it and to leave a review. So I did that. Now, if you go to that video and you click on it, it gives you three places to book.

I have not earned any commission because my following is not huge on TikTok. But after you’ve, I think, passed a thousand people, you’re able to monetize and do those things.

But it was really cool to see, all right, I can post this now, people can book, test it out. Really interesting to see how it works. For bigger creators and travel influencers, it’ll be a nice little bump in their revenue.

But I also think it doesn’t give you direct booking. I would love to see direct booking to those sites versus to Expedia and trip.com. But that’s how they get the affiliate fee because they already have affiliate program set up.

So that’s really what they’re doing.

No, of course. I love that you brought that up. I’ve got four different hotel videos to post.

I’ve just been busy with other work. So I’m excited to play around with that and or even go back. I’d be curious, I might try and go back to some of my more recent videos that I posted to see if that’s something I can add.

That would be cool. Yeah, like within the past month, or they have to have a cutoff. My guess is if it’s been posted for more than a week, you probably can’t.

But yeah, I think this is huge. Last year, I spoke at the Booking Direct Summit. It actually is happening right now in Mexico City, and I did a whole presentation on TikTok and what people can expect, and it was exactly a year ago.

We’re not there yet, but it’s coming and get ready because this is where everybody is getting their travel inspiration more than AI.

Live shopping is gigantic. It keeps growing and growing every single month of the year. I’m starting to see some people selling interesting things.

All right, I would buy that. And so all of a sudden, all right, if I can do that, why not with travel? Travel I know is a little bit more expensive and a bigger purchase.

So I’m curious to see how they attribute, you know, like Sarah post something to her hundreds of thousands of followers and how do they know that that was you if they come back and book two days later? So that’s what I like.

That exactly is what I would like to know as well as like, how long does it kind of like stay or they register that? But yeah, this I have been waiting for for a very long time. I’m just curious about the actual commission structure.

When you when you added it to you, your link, did it say anything? Or is it something like, oh, you’ll just, you add the link and then hopefully if somebody books, it’s like, it’s a surprise.

And then you’re like, oh, cool, I made 3% or whatever it is.

I think that’s a great question. Says, creator earns commissions on my side. I’m going to have to do some more research and see how many clicks I got, how many people click through to look at the hotel, but it doesn’t show me the rate I would get.

I’ll find out.

All right, perfect. Okay, well, why don’t we go on? We could talk about this all day.

In fact, I think we need to probably circle back to this. Yes. With the two of us both having TikToks that we can actively have people book.

By the way, if TikTok is doing this, how long will it be until Instagram and Facebook get on board? They’re not going to leave that money on the table.

And it’s also direct competition with AI platforms like Chat and Claude that have all been about, oh, you can book in the app. So everybody is getting in fighting for the traveler.

And YouTube. I could watch YouTube all the time for room tours. So if I can get straight from there all the time, that’s how I get a lot of travel.

Cruises, hotel rooms, restaurants, all these places. Soon it will be connected.

Yeah, no, love it.

24:03

OpenAI Travel AI

Okay, so just moving on here to our final topic. OpenAI builds AI deployment business around travel. So OpenAI launched a new $4 billion deployment business focused on embedding AI directly into enterprise operations.

So basically the acquisition of Tomorrow brings in the team behind Virgin Atlantic’s AI concierge. Oh, my favorite. Virgin Atlantic’s AI assistant.

So they already handle bookings, loyalty management and customer support across voice, image and text. And then OpenAI plans to place engineers directly inside client organizations to help accelerate adoption and operational deployment.

But I mean, basically the company is saying enterprise AI adoption is now moving beyond experimentation and well into execution and integration. So an infrastructure. So this is cool.

It’s moving fast.

They’re moving quickly. They really secure like, hey, we want to be what companies use. We’re going, you know, we don’t want you using Microsoft and Google and all these other platforms.

Use us. We’ll create the bots. We’ll create the agents.

And companies want to make sure that all their data is secure and their customers’ data is secure. So they’re really working hard on this. I’m seeing so many products just in the last week and a half, right?

It’s like, you know, you know, Anthropic put something out with something new with Claude. And then you’ve got something new with OpenAI and ChatGPT. And it’s like every week they’re one upping each other.

And it seems to be speeding up now, which is wild to see.

So, yeah, no, it’s interesting. So, I mean, kind of like the catch with this is that it’s, you know, keep in mind if you’re implementing this, it’s not neutral per se. You end up being in their ecosystem.

So, that’s just something to keep in mind. But the other thing, I find this fascinating, but like for hospitality, AI, this AI concierge, which has been, I mean, I have literally been part of those conversations at least since like 2016, 2017.

But this is no, it’s not just like a random text type of, like this is now, this is not the future, right? We are living in the future. It’s very much like a competitive like infrastructure and we’re seeing it kind of adopted across the board.

So, that’s the thing.

Yeah, I’ll be blanking messages. There’s a lot of times, like it fakes me out still to this day. Like it’s getting better where I’m talking on the phone and I thought I was talking to someone.

It’s not someone.

Oh, yeah, it’s getting better and better. Definitely. Definitely.

Okay.

Why?

Oh, and speaking of, oh my gosh. Oh, I just saw this. Oh, Kay Frederick jumping in here.

Can’t wait for this. I don’t know if you were talking about AI or TikTok, but probably AI.

Stuff on YouTube.

She, by the way, has been quite, it’s been quite awesome to see her explore quite a bit with chat, GPT, and then also Claude.

So, I mean, I guess, keep it up.

Keep it up.

26:58

Brand Guessing Game

Okay. So why don’t we go, why don’t we get to your favorite?

I have favorite. Do we have the music again? Dun dun dun dun dun.

Whose brand is it anyway? Where we try to guess.

Oh my God. Really?

Owns this brand. Let’s see.

Okay. We are ready.

Oh, I know this one. I think. Pretty positive.

I think so too.

Wait, hold.

Own this brand. Joy Hotel. Which parent company?

This is a pretty famous one, I feel like, for these sub-brands.

It is.

Before you show it, let’s get the comments here. Who do you think owns this brand? I’m going to go with Hyatt.

I was going to say IHG.

What do we got?

I should know.

I should actually know. If I’m wrong.

What brand owns that?

Oh, there we go. Oh my gosh.

My first one.

Bravo.

The only reason I remember that was because, I forget the CEO’s name, he went on to work with Airbnb. So that was part of the story. He created this boutique hotel brand that was very cool and unique and then worked with Airbnb.

I don’t remember his name. Maybe, Will, you can share his name if you know it here on the screen. Yes.

Do I get points for that?

You get points now.

You know the former CEO that created the brand. Paul Manzi? Incorrect.

Not Hilton. I see a lot of guesses here. A lot of guesses that were not correct.

No.

It’s tricky. Well, wow.

It flew through this. How about a real-time recap? What did you see out there?

You went to the Fontainebleau and checked out Poppy Steak, the Miami import.

Yeah. It’s interesting. Last week when I was in New York, I stayed at the Hotel Park Avenue.

Super cute hotel. Fascinating because you have to go and check in and you have to key yourself. I was just laughing so much because my arms were full, I had come in off of a long flight.

I have mixed feelings about keying yourself because they also had two agents there that would walk you through it and they’d have to come over and help you anyway. But this, I don’t know, but the hotel is lovely. I love that part of it.

But the keying yourself, and I was videoing it, I made a joke. I was like, don’t worry, I know what I’m doing. I’ve done this before.

But a beautiful property, amazing. They’ve got a cool rooftop bar there. I just want to give them a shout out.

Golden Child is what they’ve got upstairs. Park Rose is their restaurant downstairs. Fantastic, and I believe they’re at like 60th and Park.

So right about there. Amazing, amazing property. So shout out to Hotel Park Ave.

If you are going to be in New York, check them out sort of Midtown East area. Highly recommend.

I love it. Well, that sounds like a good place. I’m going to give out a quick shout out to a local restaurant in Charlotte, North Carolina.

I don’t know how many people are there, but it’s a little French cafe tucked away by the hotel called Renaissance.

Okay.

It has a pastry chef from France creating everything in a kitchen that you can look into from scratch.

I went back three different times to this little place in a one weekend to try all the different things that they had created there from salmon, to a tartine sandwich, to little macaroons and cheesecakes and all the different things that they had

there. I went back three different times, gained a lot of weight, but it was delicious every single time I walked in there.

It made you feel warm and I love seeing someone who’s a craftsman really showing off what they’re doing with a kitchen that’s in the middle of the restaurant. You can watch them behind the glass, almost like you were looking into a chef’s aquarium.

Oh, I love that.

Yeah.

I love that. Well, it is so good being back. I love when we miss one week together and it feels like so much time has passed.

We got the band back together here.

Sorry for all the fire alarms going off and the Wi-Fi that’s cutting in and out, everyone. With the live stream, sometimes it gets a little tricky, but appreciate you always joining live, commenting. Listen, until next week, everyone.

Stay Hospital.