Could you share with us your assessment of Hyatt’s growth in 2022?

At Hyatt, generally our strategy is to grow with intent rather than just purely playing the numbers game. You will never see us put out a forward-facing statement saying: “we are going to have 250 Hyatt Places in Germany by 2026”, because that’s not how we think. We want to grow with intent, and we grow in accordance with the strategy that we have set ourselves.

It is apparent with the latest additions to our portfolio that in the luxury, the lifestyle, and the leisure segments, we’ve seen growth in our brand portfolio which really complements the historic brands like Hyatt Regency in particular. This plays much more into the business segment. Our growth is now coming from that much more rounded offer.

I always say EMEA is a bit like the middle of a sandwich. We’ve always had great exposure in North America, and we’ve always had really good exposure in the Far East. And in EMEA, if those are the bread then the filling’s been a little bit thin. When I joined Hyatt 6-7 years ago now, we had this strategy of getting the capital cities where we were not represented and then starting to work on the secondary cities and the leisure markets. What’s so exciting for us now is that we’ve actually got a lot more brands that are very much specific to those leisure markets, and relevant for them. We’ve completed the first leg of the strategy; we’ve got our roots down in the key markets in Europe and now we can look to those cities to get depth of our brand in each location across the upscale, upper-upscale, and luxury segments. Once we get depth via our different brands, we can also...