Mr. Kevin McCarthy:

Part of the objective is to increase the rate and volume of supply through the refurbishment programme and to help to inform the extent to which any one of these strands, or all of these strands in aggregate, can meet demand over time. The basic challenge is that we do not know what the future rate of arrivals will be, but the fact that we have accommodated 55,000 people from Ukraine over the past year means that the supply pipeline is getting tighter in terms of our capacity. Whatever about the risk of losing hotels, our capacity to add further hotels is increasingly limited.