This is truly the new way of as an individual building my experiences, right. As an expert or a channel to market of facilitating that happening most effectively, most efficiently, so our hook is not just at the end traveler, it’s all the way through the chain here to include the service support because this is, I mean, the unique thing about our platform is it is fully deployed end-to-end. So that’s primarily on the hook side. In terms of the way we’re thinking of the investment that we’ll continue to make here, about 50% of it will be in the marketing programs and then the other 50% is going to be in personnel as well as continued enhancement and deployment of the AI capabilities within our platform. So it’s generally in that range.
Orestes Fintiklis: And just to add little bit of color, right?
Mike Grondahl: Sure, go ahead.
Orestes Fintiklis: So just a bit more color, Mike; so you may recall that our, I mean, before we’re focusing our marketing mostly on credits, right? We would go to travel experts and tell them, look, we’ll give you a $1,000 credit and you can use it on the first 30 transactions that you make, right? So now like you rightly mentioned, we are targeting the new era experts, which is more freelancers and social media influencers. And the way that these new customers are making money is they’re making 1% of all transactions of their followers that they book through our platform. And then for the traveler, the traveler gets a $10 credit, et cetera, et cetera. So we need to educate the market, but to know how would you know, if you’re an influencer, how would you know about this platform?
If you are a traveler, how would you know about the $10 credit? So now we have to do different types of campaigns, which are more performance marketing as opposed to credits, right? So this basically explains also why we built an additional team to our existing marketing team with 14 individuals with experience in this new era expert and customer.
Mike Grondahl: Got it. And then one more; if you look at the overall transaction and take rate in the second quarter, is there anything to call out there like air travel was better or worse, hotels, cruises, the ancillaries just any kind of detailed commentary on that underlying performance, if you will, whether it’s transactions or take rates?
Jesus Portillo: I think, Mike, one of the main things to point out is that as we continue expanding on our hotel offering, that take rate is going to continue to improve. And that’s probably, as you referred to second quarter is clearly the main driver for that improvement in that take rate.
Mike Grondahl: Okay.
Operator: Thank you. That concludes the Q&A for today. I’d like to turn the call back over to Jeff Houston, Senior Vice President. Jeff, please go ahead.
Jeff Houston: Sure. Thank you, and thanks to all who tuned in for our second quarter 2023 earnings call, whether it was here on the live call, replay or reading the transcript we really appreciate your interest in Mondee, and welcome the opportunity to further connect with you. If you have any questions or would like to learn more about Mondee, please don’t hesitate to schedule a call with us. You can get more information at our IR site, which is investors.mondee.com or send me e-mail to ir@mondee.com. Thank you.
Operator: This concludes today’s call. Thank you for your participation. You may now disconnect your lines.
