00:00Can you give us any clues as to what's in the pipeline for Cheval, especially here in Saudi Arabia?
00:05You've mentioned those two properties. Anything else on the horizon?
00:08Well, I mean, Riyadh is a huge city and very diverse in terms of the different demand audiences in the
00:13different parts of the city.
00:15So we are looking at other opportunities in Riyadh, but we're also looking at opportunities in Jeddah, in Medina and,
00:21of course, in Makkah as well.
00:22So we are very focused and attracted by the opportunities provided by Saudi Arabia.
00:27We've had such a positive response from the market, both with existing partners such as Ladun, but also with other
00:33investors and other owners.
00:35So those are the destinations we're looking at. And we hope to have some news for you soon for our
00:40subsequent properties.
00:42OK, I said that was the last question, but it wasn't. I wanted to ask you as well, very briefly,
00:46what impact have you been seeing on your bottom line from the current geopolitical turmoil, particularly in this part of
00:57the world?
00:57Our model is actually very resilient in these sorts of situations.
01:01We had it in Covid as well because it's a long stay proposition.
01:06You know, our guests live with us.
01:08Some stay on a short term basis, but at this stage of the game, our guests live with us.
01:12They're not going anywhere. So actually, our trading and our occupancies have held up very well with cash positive.
01:18So despite the current situation, long stay in particularly with hospitality led service departments is trading much more,
01:27much better than the rest of the market.
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