So they were incredibly supportive and appreciative of everything that we did in our relationship. And I’ll just say this, we’re still having conversations about the future. I mean I would love to have a team here in Canton, Ohio. I would love to continue to have an opportunity to play and play off for a championship game or maybe a preseason game. So I wouldn’t say that those things are on the table, but I also wouldn’t say that they’re off the table either, and we’ll continue to have conversations with those guys. And our relationship with Fox is very strong, and we’re hopeful to announce some more things from a media point of view that involve Fox in the coming months.
David Marsh: Okay. So I appreciate that qualitative color, Michael. But could you just kind of help us from a quantitative perspective a little bit, just help us understand what the impact on the top line was in ’23 from those teams being present there in the village and what we’re looking to replace here?
Michael Crawford : I think it was between around $800,000 to $1 million, that’s what it represented. And remember, that wasn’t just to the village, those were hotel stays. It’s again, that diversified revenue model that we talk about, catering events, food and beverage, concession, merchandise, tickets, those types of things. That’s quantitatively what we estimated it was.
David Marsh: And then just as we look forward in ’24, you’ve talked about a lot of really exciting events that you guys have planned. Maybe you could just talk about what the opportunity set looks like in terms of growing those events and maybe you could just provide a little bit more color on the success of some of the more recent events that you’ve had such as the comedian and some of the concerts and things of that nature.
Michael Crawford : Yes. I mean, look, we’ve announced several large acts comedic festivals, music festivals, we are on sale already with most of those things, bringing in revenue earlier into the year through those ticket sales, which is, again, why we’re trying to advance calendars and allow people the chance to buy earlier and plan their calendars accordingly, things like bringing a circus here and the Harris, Blitzer partnership, bringing in very large-scale sporting events that are on the docket already. The NFL flag event, we anticipate having a significant financial impact for us and the community, frankly. Carrie Underwood is almost sold out. There’s a lot of those large-scale events that we’ve announced. And then we are also focused on creating tentpole events ourselves.
Winter Blitz is our annual winter event. It was larger this year. In Q4, generated more revenue. We expect that to be a very large-scale event for us. But we’re talking about month-long festivals and really creating packaging opportunities that drive greater revenue growth for the company using the existing assets we have in a much smarter and efficient way, allowing guests to have access to them. So our roster of events is on our website. You can see that we continue to announce and add new things to those almost on a weekly basis to that roster. And I think that, that is going to really generate the attendance growth and the repeat visitation that I spoke about, which are 2 key metrics for destination-based assets like this.
Operator: Our next questions are from the line of Michael Diana with Maxim Group. Please proceed with your question.
Michael Diana: Mike, you talked about increasing the length of stay, which I’m sure is a multipronged thing, and one of the events you just talked about. Could you maybe just talk a little more about the impact of technology on that and also to really benefit from that, obviously, your Tapestry Hotel. Are you also considering other hotels? Because I assume the DoubleTree and the Tapestry at some point are going to all be full a lot?
Michael Crawford : I believe that our current deal with Hilton considers a third hotel and that third hotel would come in phase 3. As we have the financial capability, we’ll continue to implement phase 3. As I’ve said before, phase 3 is not going to be what we did in phase 2. We had to build a lot of assets at the same time to create a destination. Phase 3, we can be more surgical and add things as we need to. And as the company has financial capabilities, we don’t want to continue to leverage more and more debt. We want to leverage operating income and be very responsible about how we spend. But I do anticipate a third hotel in phase 3. Technology plays a part in almost everything we do. And we’re very focused on understanding guest behavior.
So this placer AI technology that we use that shows point of arrival, movement of guests throughout the property allows us to really be more targeted in how we communicate and market to those guests when we’re here. We’re not there yet, but that’s the next evolution of this, knowing who’s coming, when they’re coming, where they’re going is a very important part. Now implementing this campus-wide operating system that we’re talking about allows us to get to guests prearrival. And as they’re booking as an example, if we have a 3,000-person event out at our sports complex, we can advance sell water park tickets, ride tickets, plaza, we can advance sell parking, which allows us to be more efficient in the guest arrival and departure experience.
