Mike Hickey: Hi, Greg, Chad. Good morning, guys. Great quarter. Thanks for taking our questions here. I think just two from us. One, obviously, Chad, Greg, you guys don’t guide ’24. Your peer-set doesn’t either. But just curious, so this – as much as you can sort of frame for us your ’24 growth opportunity on revenue as you see it today. Obviously, there’s some moving pieces on theater side in terms of the strike and impact, et cetera. I’m curious if you think – you also have some leverage in the model in ’24 and beyond. That’s the first question. Second question is, it sounds like on the hotel side, you’ve got some pretty good leading indicators there on growth. And so maybe that sort of offsets this question. But just curious, an update on the consumer specifically within that segment.
Obviously, the business side being more impacted by the economy and sentiment, and leisure here seems like it’s had a heroic effort, Greg, over the last year or two. Just curious if the economy or sentiment or just the pullback in spend is impacting or you think it could impact that piece of your business. Thanks, guys.
GregMarcus: Sure. Well, you know, actually we’re going to be holding a seance next week to figure out what the theater business is going to look like next year. We just don’t know. We have no, you know, I mean, we don’t even know when we know what’s coming, you know. It is a – as we talked about on the call, right, was – in the prepared remarks, nobody could have guess – nobody ever can guess what a specific as movie is going to do. And if someone would have told me that Barbie was going to just absolutely go bananas and that other films were not going to perform as expected but there were some. You just, you know, there’s no telling. And so it all comes down to the number of films released and we don’t, you know, in Hollywood, as you know, is not really disclosing, you know, so like, there’s been some moves, you know.
We know that Dune 2 moved to next year. Well, okay, that’s going to fill a little bit of a hole. It left us with a little bit of a hole, but all of a sudden Taylor Swift showed up, you know, She rode in on a horse to save the day. So, you know, we just – it is just a business where you don’t know will ultimately come down to the number of films released. You know, if you look at the stats this year, which I think is some great stats to look at. We have about 15% less films released than pre-pandemic and we’ve got about a 15% decline in box office compared to pre-pandemic. So – and that’s an increase from last year. So as the pipeline gets refilled, you know, business will come back. And you know us. We’re not looking quarter to quarter, we’re looking at the overall, you know, where is the business trending overall.
And that’s how we see that. On the hotel side, you know, we – the leisure traveler has, you know, I think the revenge travel period is over, but people are still traveling and want to go about and we still have a strong leisure business. But as we talked about today, our pace for Group business is looking more solid, you know, as we look, you know, is improved over last year. You know, in Milwaukee specifically, this market is going to see some real positive benefits from the Republican convention that’s coming and the opening of the convention center, which again, not only speaks to just next summer, but really long term. That’s a big – that was over a $400 million investment in this market, so – in the convention center. So, you know, good things in the long run.
Mike Hickey: Greg, just a quick follow-up. You can’t control the fan product, obviously, I wish you could, that’d be great.
GregMarcus: I think, none of us.
