You may add some amenities, but it’s not like the basics that you have got everything. So, there are two in particular that we’re focused on where we can add probably net or – combined probably 250, 300 more rooms. So that’s kind of projects that we are very, very focused on. And then the final one, is something that it’s kind of less sexy, but it’s very beneficial and that’s really kind of things that save us cost in the biggest area there. I mean, Ryan has talked a lot about the procurement and will continue. There’s not a lot of CapEx associated with that, that’s more processes and staffing. But there is another area and that is an energy and the opportunities there are pretty significant, because historically in the Caribbean and in these kind of markets you’re really relatively inefficient.
It’s like you vote in diesel fuel, it’s islands at very high costs and then you’re running kind of inefficient diesel fuel generators to generate electricity whether we’re doing it at the resort or local groups are doing it at their the utilities is the same impact and it’s very inefficient. And it’s also going to relatively adverse to the climate. So, the benefit is we can do some projects. We’ve done a couple to evaluate it, but I think there’s great opportunities to do that from mini turbines, liquefied natural gas opportunities, solar opportunities, a number of things that can really diminish our cost – lower cost on the energy side. So, they’re really high returning projects and we will look at whether we spend the money or whether the outside firms spend some money.
It’s somewhat irrelevant whatever deal makes more sense. But that’s another area where we’ll then focused on. So as we look at the next five years, I think you’re going to see us come back with more definitive plans. So, hopefully by either the next earnings call of the one after that, you will see us laying out things that we’re going to be focused on in order to drive growth, because it’s critical, during the pandemic a lot of projects that put on the back shelf in the world was so uncertain and now, it’s pretty clear that, our business is very, very robust. The brands continue to be incredibly interested in trying to penetrate and do more deals. The existing competition is improving their properties. So we need to improve ours and that’s where our focus is going to be.
Chad Beynon : Right. Thanks. And then, more near term, just kind of on the travel warning situation in Jamaica. I guess, looking at previous periods when items like this have happened. What generally happens? Is there price discounting for kind of the low to mid end guys and luxury players like yourself hold pricing and sacrifice occupancy. And then, to your point maybe the booking patterns recover? Or is there discounted pricing for a longer period than maybe you would hope for from some of the others?
Bruce Wardinski: Yeah, I think the only real example of something we had to discount pricing was way back in 2019. These usually have a short shelf life. And again, we’ve got very disciplined revenue management team and they’re not going to just quickly sort of jumping rates to just get somebody in the door. Right? We had our bookings are negative for about a week. They returned positive although they’re not picking up as much as they would normally, right, but it’s slowly building. And so essentially, what we’ve taken out with potential occupancy on the books, but our rate on the books for those periods remained essentially flat to where we were at prior to that. So, this we expect to be shorter term. It’s a lot more information on how that stabilized by the time we get to our next earnings call.
Ryan Hymel : And there are two kind of mitigating things that our commercial team has done, which I think has been really positive. One is for the people who cancelled in Jamaica. We reached out to them and try to sell them to Mexico in the Dominican Republic and we’ve had some success there. And obviously there’s no discounting of rates. So that’s kind of business. And then the second thing is focused on, some local group business, Jamaican group business which again, you don’t have to discount, because it’s kind of a different market, but we’re not going to over react to this. I mean, it’s pretty ridiculous from the State Department viewpoint. Absolutely, nothing changed and they didn’t change to as a level 3 and still a level 3, why they felt the need to put that out. I have no idea, but like Ryan said, the shelf life of these things tends to be relatively short-lived.
Bruce Wardinski: Yeah, that that market was doing really well. Prior to that if we’re painting how we were building January and that we just view this as an agent to the potential upside from that market. And so we’ll have more information and we’re back in May.
Chad Beynon : Great. Thank you both. Appreciate it.
Bruce Wardinski: Thanks Chad.
Ryan Hymel: Thanks Chad.
Operator: The next question comes from Chris Woronka with Deutsche Bank. Please go ahead.
Chris Woronka : Hey, good morning guys. Thanks for all the details so far. So I go to slightly different direction. You guys reviewed the mix of business. So I think you said you picked up somewhere European and locally Mexican sourced. Can you maybe remind us, I know there’s been a lot of focus on, non-package RevPAR of some of the kind of premium and upgrade options? Can you kind of remind us which geographies would be the best contributors to that if you get more recovery? Thanks.
Ryan Hymel: Highest paying – it’s generally the highest paying customers which generally at high level or the Americans. I remember a lot of people when they first get introduced to all inclusives and they assume that somebody who comes in our low season who’s paying a cheaper package rate is more likely to spend on additional incidental items, and just to be opposite. The people have the money to pay the highest rates pay the highest for non-package.
