Naftali Holtz: Hey, Robin, its Naftali. So just on the cost, so as I mentioned, roughly 300 basis points related to dry docks and HideAway, the vast majority. So think about like 80% of it is, is to dry docks, and the remainder is really about HideAway. It’s a nice way to ask it again, but I’ll just say what Jason said, we were very excited about next year, our formula, we always strive to drive and grow yields more than cost. And that’s definitely — that’s what we’re intending to do next year.
Robin Farley: Okay, great. Thank you very much. Thanks.
Jason Liberty: Hey, Robin. I’ve to jump in for a second as Michael, just to update you on HideAway because I was there last weekend. And I have to tell you, we are incredibly impressed. It’s a spectacular, new destination for Royal Caribbean. And we opened for sale for this one products about three weeks ago. And it’s going gangbusters. I mean, we’re delighted with the product. It’s going to be really a game changer. And the demand has been exceptional. We’ve already started pushing up the pricing for that experience. So of course all of that comes online with Icon of the seas, which is by far the best selling product we’ve ever launched in the history of our business and it continues to perform an exceptionally high-level.
So the combo of Icon with hideaway is really for us exceptionally exciting. And then of course, we’ve got Utopia going straight into the shores market to perfect day in the summer. And that, again, is already selling at record rates so and record volume. So we’re kind of pre switched on about what’s happening in the next year in ’24.
Robin Farley: Great, thank you.
Operator: Your next question will come from the line of Brandt Montour with Barclays. Please go ahead.
Brandt Montour: Hey, good morning, everybody. Thanks for taking my question and congratulations on the strong report. I think I’ll take a shot at the second part of the 2024 cost comments from you Naft. I think when we think about very low single digits, that’s pretty cut and dry, and we all know your history of what you were doing pre-COVID on the cost line. When we think about what is in there, though, right, there’s China, and then there’s Icon. I would think Icon is push it down, right? Because of all the APCDs that come along with Icon. But China, I would expect to have a rollout of more sort of cost base over there? How should we sort of think about those two factors when we try and model very low single digits?
Naftali Holtz: Yes. I just think — there’s other things, too, right? First of all, Icon actually is — there’s a lot of venues on it. So yes, there’s a lot of APCDs, but we also offer a lot of experiences on board. And you’re right, China is a market that we’re coming back. And obviously, we’re not there today, we’re just ramping up. But there’s a lot of things that are going into it. And the commentary is we manage our cost across the board and we are very comfortable with the very low single digits as we go into next year.
Jason Liberty: And Brandt, it’s Jason. I just want to add in. Obviously, our capacity is growing at 8% next year. And so that’s certainly helping making sure we’re getting more and more efficient, which is a critical objective of the organization. We are also beginning very much to benefit from new disruptive technology and employing them in different parts of our business that can lower service calls and improve process efficiencies. And that’s kind of an overall objective is how do we get better each and every year. And that’s why we believe that excluding the dry docks and HideAway, which are structural, we were able to continue to produce low single digit costs — sorry, very low single digits, yes, Naft just reminded me.
Brandt Montour: Great. That’s helpful. And then just as a follow-up, the $9 starting point for the EPS figure tells us a lot, obviously. Just to get a sense of getting your guys’ heads when you are in your budget process and you’re thinking about that figure. Do you want to — do you think you’re starting at $9 in any current economic environment? Or do you think you’re starting at $9 in the current economic environment?
