“We expect the underlying accommodation take rates will remain stable.”

In context

“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 expect timing to know the impact take rates. The precise impact timing on our take rates for the year is difficult to predict as it is impacted by the rate of recovery of bookings coming into and during the year. And also by the length of booking windows during the year. We do know the relative to 2021 there was a negative impact on our take rates due to timing in Q1 2022. Our current best estimates of take rates in 2022 is just below 15%, which is lower than 2019 primarily due to timing. We expect the underlying accommodation take rates will remain stable. Timing also negatively impacted adjusted EBITDA and EBITDA margins for the year. If not impacted timing our expectations for full year EBITDA margins will be a few points higher than our guidance for the year. We're encouraged by our better than expected Q1 results and the strengthening trends we've seen in April, and we are confident that our focus on customer acquisition and expanding our product offerings is the right approach for 2022. We’ll now take the questions. Shawn, over to you, please for Q&A. Operator: [Operator Instructions] Our first question comes from the line of Lloyd Walmsley with UBS. Lloyd Walmsley: Alright, thanks for taking the question, two, if I can, first, on the April trends in bookings in room nights, those sound nicely ahead of where street estimates are for th”