Mr. Tim Fenn:

We acknowledge there is an issue around perception of last available rates. This is a challenge for the industry. We have to try to always maintain our value-for-money proposition. Hotels are very busy because they provide good value. The challenge we have here is we have many spike nights or compression nights, particularly in Dublin. Dublin has 23,000-odd hotel bedrooms. There were nights in recent weeks where we had a St. Patrick’s festival, the Six Nations grand slam match in the Aviva and mother’s day all happening at the same time. We do not have the rooms to handle all those events at once. The challenge then is there is a significant focus on the price of rooms that do not exist.