Glenn Fogel: Hi, Mark, I’m smiling because I want to do number two first and to say both. But I’ll do it in the order you gave it. So this is a question that comes up a lot because — and I mentioned in the last call about how I’m always looking for the smoke signals is something changing. And some of the key things I always look at are people trading down in terms of star ratings, or are people going for a lower length of stay. Or are people shifting to areas that may be cheaper travel than what previously was more expensive travel, always looking for some sort of early warning signal that something is happening. And I do not see that yet. I do not see that in any of those areas. And that’s what we’re seeing right now. In terms of the AI, it’s a very interesting question.
And, of course, if we knew the answer we have a good sense of where should we be putting most of our investment dollars in our people put them into the area is going to give us the best return. But the things I mentioned in the first question, nobody knows the answer to these things. These are all just guesses. So at this stage it’s very important to spread the bets around and see where the return is coming to see where we want to put people to work, put more money to work and see what’s going to come back. One of the DNA of our company has always been experiment, see what works and keep pushing in what’s better working better than other areas. So we’re going to be doing a lot of different experimentation. And I think that’s going to go on for some time before we really have a good sense where the best returns are.
I think in the long run, of course, all — both things you mentioned are going to give tremendous benefits to everybody. But if you’re correct to ask the question, which things first and how much? And that is not known yet.
Mark Mahaney: Okay.
Operator: Your next question comes from the line of Justin Post with Bank of America. Your line is open.
Justin Post: Great. Thanks for taking my question. Obviously, very strong in Asia, maybe talk a little bit about what you’re seeing there? And are you able to take some share from direct bookings at hotels or competitors? And then I thought your marketing ROI comment was very interesting in a very crowded quarter for marketing spend. So can you talk about — is it the direct traffic that’s helping you be more judicious with your marketing spend, or how are you getting that way up?
Glenn Fogel: So I’ll let David speak second about if you want to give any more color into the marketing question. I’ll leave out Asia. So, yes, very pleased with Asia. Very nice to see the second quarter numbers and even nicer to see July accelerating like that. That’s great. And, obviously, that’s a function of Asia took more time to recover the restrictions dropped later. We’re doing a year-over-year comp. So we’re getting some benefit out of that. And by the way just everybody there is no confusion in China not producing significant they’re far behind in terms of outbound recovery and we’re much more an outbound player there and I don’t expect a recovery in China for us for some time, significant time probably. So overall it’s good.
There are a lot of factors happening there. There are very similar to other parts of the world where people wanted to travel. They’re going out there. They’re doing it. And we have done a very good job, the same way we did in the US, and we did in Europe is making sure that when people wanted a trial we were there for them and we’re seeing the results right there. And David if you want to give any more color into that marketing question?
David Goulden: Yes. Justin, I think I gave a fair amount of color in my first answer, so I’m not going to repeat it. You did ask about when the direct makes place into this as well. And yes obviously as our direct mix is increasing as we commented it continues to do so. That helps but we’re also getting helped from just looking across our total spend on marketing and looking at pockets of efficiency using some of the areas I talked about earlier.
Justin Post: Great. Thank you.
Operator: Your next question comes from the line of Kevin Kopelman with TD Cowen. Your line is open.
Kevin Kopelman: Great. Thanks a lot. Could you give us an update on your efforts and progress in the North America vacation rental market just where you’re at on that initiative? Thank you.
