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projects often requiring big loans. are high interest rates at the moment affecting the timescale? could you perhaps holding back on some of those plans? around the world we are seeing, as an industry level, a slowdown of construction so that is definitely happening because of the availability of construction labour and what is happening. great brands get lended to. we actually can go to the banks and help get that lending but it is though. ground breaks are about 50% of what they were pre covid. we did see an acceleration to q4 and we expect to see an acceleration in 2024 but it is going to be a thorough growth environment but the amazing thing is about share. so today ihg has 4% of the global hotel supply but 11% of the global pipeline so nearly three times