Kirsten Lynch: Yes. Hi, Ben. Thank you for the question. So we do believe that as it relates to advanced commitment, the largest addressable market to really penetrate is the lower frequency destination guests. And it is a large and attractive market. They are low frequency destination guests. Because their destination guests, they do tend to spend on ancillary businesses such as F&B, rentals, ski school. When we think about this coming season, I’d say overall, we are in a very good position in that we have over 2.3 million guests pre-committed to come visit our resorts this season. When you think about the value of that in the travel and leisure business of knowing 2.3 million people are pre-committed to coming and visiting that’s the benefit of the units of pass sales and the dollars that we’ve sold, but also the ancillary attachment that naturally comes with that.
Related to that, in terms of ancillary attachment there are some natural behaviors that occur in terms of ancillary attachment, but we also have a data-driven approach to connecting with those guests in a way that’s relevant to them to encourage ancillary capture and also pass holders receive what I would call, like membership benefits with Epic Mountain rewards, with discounts on our ancillary. So as we pursue this addressable market, there’s a natural spend behavior that already exists. And of course, our goal is to increase that share of wallet as they come to our resorts.
Ben Chaiken: Okay. That makes sense. So it’s like almost two pronged, it’s increased the penetration of the existing lower frequency part one and then part two increase the deeper into the TAM of the potential lower frequency guest?
Kirsten Lynch: Yes, and utilize our data to increase our capture, yes.
Ben Chaiken: And then just one quick follow-up. Is that something in terms of your existing lower frequency guest base, have you guys tried to take a swing at like quantifying how penetrated you are relative to where you would like to be? Is that something you’ve done? And would you share that ever?
Kirsten Lynch: We’re not sharing that number today, but we obviously quantify the TAM and the progress we’re making on the TAM and continue to believe that there is a lot of upside potential in terms of penetrating that addressable market.
Ben Chaiken: Thank you very much. I appreciate it.
Kirsten Lynch: Thanks, Ben.
Operator: We’ll take our next question from Chris Woronka with Deutsche Bank.
Chris Woronka: Hey, good morning everyone and Michael thanks for all that to help over the years and best of luck.
Michael Barkin: Thanks, Chris.
Chris Woronka: Yes. So question is kind of on — if you’re seeing any discernible difference in, I guess, pass buying behavior among your local and say, Western, I guess, just trying to drill down a little bit into whether there’s any noticeable impact yet from some of these economic pressures in terms of when people are buying or what kind of pass they’re buying relative to what they did last year or maybe in 2019 for those that you have history with?
Kirsten Lynch: Thanks, Chris. You know, overall, I think the underlying dynamic, I feel very good about. And do not see any underlying shifts in behavior dynamics that are concerning at this point. The key metric that I look at is our renewing pass holders and our renewing pass holders continued to be strong are including and especially the first time pass holders that joined last year were new to the program last year and to me that really validates the resort network, the guest experience and our investments that we’re making into that experience. We are seeing both local and destination grew versus prior year, which I do feel very good about in terms of, yes, seeing growth in both of those especially after a really strong growth year last year to have growth on top of that is a pretty incredible accomplishment.
