I just can’t tell you how long it’s going to take to get accrued paid off. I think the $23 million number at the end of 2022 is the correct number, plus or minus a very small amount. With respect to accelerating the repayment, I mean there are things we can take advantage of, which would include lowering the preferred principal through exchanges which we did for the last two or three years, that’s really a function of pricing. And then we’re always looking for opportunities to raise fresh capital that could accelerate the repayment of that preferred. But what I will tell you is your comment about selling assets, that’s not anything we’re considering right now to help accelerate the repayment of that preferred dividend.
Alexander Goldfarb: Okay. Yes Dave, that’s what I €“ you answered that question. And then is the $23 million as of year-end, is that still the balance today? You made the initial preferred payment, preferred dividend. So is that €“ the $23 million is net of that payment or we would have to reduce the $23 million by the preferred?
Dave Folsom : Well, as you know, once we stop paying preferred, that accrual just kept growing and growing and growing. Now that we have reinstated the preferred dividends that fixes that accrual. The unpaid accrual is now fixed, and we just have to pay it off. So its $23 million total and then out of cash flow or through other mechanisms we’ll have to pay that off sequentially through special dividends.
Alexander Goldfarb: Okay, okay, got it. And then I guess the final question is, you know your comments about not really seeing anything of the recession down in your markets. You talked about strength in urban and group planning, etc. Is there just no sign at all throughout your portfolio, whether it’s individual travel, group, business travel, group planning, etc. Are there any cracks at all and anything by market or your sense is, as you hear back from your various hotels from Philly down to Texas and Florida, that sort of there’s really no change in what you’re seeing on an operational business sense?
Dave Folsom : You know, that’s correct. I mean we have very detailed, very lengthy calls every two weeks with the DOSs, the GMs, the corporate staff or our management company and frankly right now the answer is no. Additional BT customer bookings, group bookings, rate, it’s all there. We’re very thankful to see the BT customer and the corporate group layer back into our business mix. And I can just tell you, we don’t see it right now. I’m sure it’s going to change, but I can’t tell you when that will be, but we’re not seeing any cracks as you mentioned.
Alexander Goldfarb: Okay, listen. Thank you.
Dave Folsom : Thanks Alex.
Tony Domalski: Thanks Alex.
Operator: Thank you. . There are no additional questions waiting at this time. So I’d like to pass the conference over to Dave Folsom for any closing remarks. Please go ahead.
Dave Folsom : Thank you, operator, and thank you everyone for joining us for our quarterly call. And we look forward to another one in a few months. Thank you.
Operator: This concludes today’s conference call. Thank you all for your participation. You may now disconnect your lines.
