Mr. Tim Fenn:

I go back to the comment we made earlier. The average room rate in Dublin in April, at €150-odd, is competitive when compared with other cities in Europe. The challenge we have, which is different from other cities, is that we do not have the stock levels they have and that we have much higher occupancy rates than they have. If they had the high occupancy rates we have, they might face some of the issues we are dealing with today.