Jason Liberty: Yes, so I think one of the things I would say, Brandt, is that we are saying it’s going to start with — that it will at least start with the $9. So I wouldn’t necessarily peg it to $9, it’s just that we’re seeing at a 9 handle, which I think is just an important thing. And obviously, it’s impossible to predict what the environment will look like 6 months from now or a year from now or 5 years from now. But we have a pretty nimble platform. There is a significant value proposition or value differential to land-based vacation. Pre-COVID, we were, call it, 10% or 15%. Today, we are somewhere around 35%, 40%. So there’s a lot of value for the consumer to get if there are changes the operating theaters that we are in.
I would also keep in mind that we are pretty well booked, and we will cross this year in a very strong booked position. And so we have — we will have a lot of that already on our books, the consumer has already made those decisions. But I will say, which I think is an important thing when we look at the consumer, is as we’re here on the call, we have thousands of people making bookings for experiences that are at least 6 to 8 months from today. They’re making bookings into 2025, they’re even making bookings into 2026. So our visibility in terms of how the consumer is looking at things going forward, at least on a vacation experience on our incredible brands, is pretty good based off of where the consumer is standing today.
Brandt Montour: Excellent. Thanks all.
Jason Liberty: Sure.
Operator: Your next question comes from the line of Vince Ciepiel with Cleveland Research. Please go ahead.
Vince Ciepiel: Great. Thanks. Big picture question. Curious your perspective on the supply/demand kind of dynamic in this industry over the next few years, what you’re seeing in the order book, and then on the demand side, it seems like you and some peers as well are really seeing strong performance out of the new to cruise. So what that could mean for the trajectory of demand growth in years ahead as well.
Jason Liberty: Hey Vince. Hope all is well. So on the order book side, at least what we can see kind of 5 years out here is the industry is going to grow on a gross basis around 4%, it could potentially be a little bit lighter that if there’s going to be some potential more exits over time. That’s not a number that can really be changed at this point in time. And we really haven’t seen a lot of new orders come on the books as of late. So I think we have a pretty good view on the supply side. I think when we think about on the demand side, I don’t think it’s just new to cruise. I mean, new to cruise has been very strong us being indexed more into the short, brings in a lot more new to cruise. But I also think the point about new to brand, I think, has really significantly grown coming here out of COVID, which we think is another strength.
And then I think our point about how focused we are about getting more reps out of our guests through loyalty, through having a recognition of our kind of family of brands, we think is also really strong. And the last point I’ll make is, I know we really focus these conversations on the industry, but I really think we need more and more focus the conversation on land — or just overall vacation experiences. The cruise industry is a sliver of overall vacation and travel and leisure, 1% shift towards cruise is worth — I think it’s like 10 or 11 Oasis-class ships. So we’re focused on how do we continue to be more competitive with land. And we’re seeing that with the younger generations who really look at us very much similar to how they look to go to Orlando or Vegas or skiing, et cetera.
And if we can close that gap, we can close half of that gap and get back to where we were, that’s also worth probably about 10 Oasis-class ships. So we’re heavily focused on trying to do that.
