Mr. Patrick Robinson:

That would be the best way for them to operate, given the way our marketplace operates. We know that guests like to know, when they send inquiries to hosts, that there is a decent chance their reservation is going to be accepted. Hosts get to decide completely what they do. They get to decide how much they charge, how often they host and who comes and who does not come. Yes, we could drive hosts to be more accurate about how often they are available. It goes back to the point that if my empty property in Dublin is made available for a long period and I am going to base my pattern of usage around when I think I might get guests, that is not necessarily a property I would have rented long term. It might just sit empty the rest of the time. All I am saying is that availability numbers do not necessarily lead us to a meaningful picture.

Demand in Dublin is really high. If hosts make themselves available, the chances are that they are going to get booked. Airbnb has very, very strong demand in Dublin. The likelihood that one would find properties that have availability all year around and never take a booking is pretty low.