Eric Grosse : Sure, thanks, Mike. Yes, you’ve noticed that our Pass subscriptions are declining and like any trends, there’s a number of factors behind it. I think one macro trend, you asked for that, is that travel trends overall historic are normalizing. And the COVID era of remote work is moving into the past and that’s dissipating. And the Pass obviously was a great product offering for that type of lifestyle. But this is a thing — as Robert and I and the team have looked into Pass more deeply, which we definitely have particularly over the course of one month is how there’s a core group of users that just really, really love it. So, what we’re doing is evaluating what are the elements around Pass that a good segment of our subscribers, are really, really drawn to, so we can proverbially double down on that and deliver even more value.
But at the same time, for whatever reason, if people travel needs and lifestyles change, then we meet them where they are. And the good news is, is that Club and other product offered within the portfolio could be good landing spots in the event that people’s travel needs and preferences shift. And that’s one area of opportunity. I think we can do a better job of more proactively shifting our members from to the sort of product that’s best for them.
Mike Grundle : Got it. And then, Eric, you’ve talked — well, I’ll say it this way: You’ve done a lot on the cost side of the business. But you said you’re also working on some things to kind of refill the revenue bucket and whatnot. Can you just give us a sense of a couple of things there we should be watching or listening for kind of to reinvigorate the revenue growth?
Eric Grosse : Sure, sure. Great question. And you’re right to point out that really the first 30, 60, 100 days, I have really been focused on just the operational efficiency piece. But I just want to emphasize that Mike because when we do grow again and I’m confident that we will, I want to make sure that we’re doing it from a position of just core operational efficiency and strength, so that growth will more directly translate to profitable growth and controlling our own destiny as we get to the march toward profitability. So I’ve mentioned partnerships at the outset, and that’s one area that I believe is a real opportunity for us because there is a lot of travel demand that’s out there. And there’s a lot of travel demand, I think, out there through partnerships that we can tap into really, really efficiently.
And when you have the Net Promoter Scores that we do, when people take Inspirato trips and love them as much, it’s basically an on-ramp to membership. So that’s why I think partnerships can be really attractive for us because it basically gets people travelling on Inspirato; and again given sort of our Net Promoter Scores, that leads to good fit. We’ve also gone through a pretty explosive internal area of growth around different product lines across Inspirato. So I think taking a fresh look at that around how Club and Pass fit together, I mean really mapping that against the personas of our members, there’s been an awful lot of innovation. I think there can be an awful lot of different kind of innovation really focused on rationalization.
And definitely that way, our members have a better idea around what products and services across the product portfolio are best suited for them. So I think that is a really big opportunity. And as I dig into it more, as I mentioned at the outset, I really do believe that when you’re delivering a kind of travel experience that Inspirato is known for and when you take a look at sort of the macro growth rates in luxury travel, which from what I’ve seen has been in kind of mid to high single digits, I do think that there’s a lot of opportunity for Inspirato once we’re more efficient and can grow along the lines of what I mentioned.
Operator: Thank you. [Operator instructions] At this time, I’m seeing no further questions. I would now like to turn it back to CEO, Eric Grosse, for closing remarks. I apologize. Jed has just popped in. Bear with me one moment. Jed Kelly, your line is now open.
Jed Kelly : Hey great. Thanks for taking my question. Just when you look at the way you want to transform the business, can you talk about your supply roadmap? And talking to owners, and are they happy with the current value you’re bringing in? And then can you just talk to how we should think about sales force productivity going forward? Thank you.
Eric Grosse : Sure. With respect to supply and our inventory, I’m glad you brought it up Jed, it’s a really, really important part of our overall experience. And it’s also one that is — we have a dedicated team that really is focused on ensuring that our homeowners have the exact kind of experience on the supply side is our members’ view when they’re traveling. I think one benefit — one big benefit that I hear — I’ve heard that even just in my first week in my new role is how much residence owners and homeowners really appreciate sort of the closed ecosystem and the managed ecosystem that is Inspirato. It’s not the wild left that you see out there with other travel services. And having a much more curated membership group, I think gives homeowners a lot more confidence, especially also when you overlay on top of that just the points of contact and the support infrastructure that we have to manage the portfolio that is really exceptionally high rate.
We really manage our portfolio as if they were of our own residences because that’s a critical part of delivering the kind of experience that we’re known for. So what I can say is that so far satisfaction rates for our members — excuse me, for our homeowners has also been really high because of that, curated client base that we invite into their homes, which is, again, much more managed than we see from other alternatives as well as the high attention to detail we play, that we placed on managing each and every home to ensure that the great experience that are travelers get.
Operator: Thank you very much. This concludes our question-and-answer session. I would now like to turn it back to CEO, Eric Grosse, for closing remarks.
Eric Grosse : Perfect, well I really appreciate the questions and thanks very much for participating in my first earnings call here at Inspirato. Look forward to developing more relationships with all of you and participating in these calls going forward. Thanks very much.
Operator: Thank you for your participation in today’s conference call. This does conclude the program. You may now disconnect.
