The first is supply of new hotels. The second is leverage on the properties. The third is the demand, the travel demand. The supply fundamental heading into 2001-2002 appears to be getting better than it has been in the past 20 years based on all the information that we ve seen. Supply is as important a fundamental to our growth as any other fundamental.
Leverage is a non-issue right now.
We are extremely well capitalized with very prudent long-term debt in place. Demand stays surprisingly strong. We expect to see it drop a little bit with the shift in the economy. We have built that into our forecast and our expectations, but to date, demand trends remain very strong. Combining those three fundamentals, we still see a very positive outlook for growth over the next couple of years.