“We currently anticipate finalizing sponsorship around the middle of the year.”

In context

“r $900 million for the quarter. The expected timing difference between gross bookings and revenue which is the primary driver are expected 200 basis points lower take rate than Q1 2019 will have a significant negative impact on EBITDA in Q2 as our more variable expense lines are linked to bookings. If we normalize the timing impact on our take rates in Q2 2022 to be the same as it was in Q2 2019, adjusted EBITDA in Q2 2022 will be slightly higher than it was in Q2 2019. Now turning to the enhanced strategic partnership with Majorelle we discussed last quarter. As a reminder, Majorelle one of our most trusted long term external customer support partners will begin employing most of the customer service representatives and previous work for Booking.com outside of the Netherlands and the UK. We currently anticipate finalizing sponsorship around the middle of the year. And following the anticipated closing on a quarterly basis in the second half of 2022, we expect the personnel expenses will be lowered by about $25 million a quarter, but G&A expenses will be lower by $6 million a quarter. And our external expenses will increase to offset the lower personnel and G&A expenses. As we said last quarter, we did not anticipate much of an impact on adjusted EBITDA in 2022 from this initiative beyond 2022. We believe this partnership will help reduce further expense growth and enable a more efficient ramp up of our customer service function. Outside of the P&L geography changes to the personnel G&A and sales and other expense line from Majorelle, we are maintaining the full year P&L commentary we provided last quarter. As a reminder, the expected timing, we exp”