Question: What are the key elements of your 2011 fiscal year? Philippe Gas: We have clearly improved our performance this year even if the growth did not result in an improvement in our net result. All of our operational indicators are up: attendance grows 600,000 visits, and we increased guest spending and hotel occupancy. We however continue to work in a difficult economic environment, which combined with poor weather conditions in our fourth quarter. Philippe Gas: We can leverage two positive elements: our destination remains very attractive to Europeans despite the economy challenges, and our strategy is relevant. We stay focused on our strengths, and notably our sales flexibility, our continued investment in the Disney experience for our guests, and the extraordinary quality of service delivered by our Cast Members. Consumer behaviours change but not the fundamentals such as their desire to come together with their family to share special moments. Especially in difficult times, it is important to maintain the trust our guests in our destination, and we have succeeded in doing so. We will continue to rely on the quality of the experience we offer, it is the Disney Difference that makes our brand unique. Philippe Gas: We continue to invest in our theme parks, our hotels, and Disney Village. This is a strategic choice for the long term as well as for the preparation of the twentieth anniversary of Disneyland Paris next year. It's going to be such a party! Not only through the new entertainment we are preparing to continue growing our attendance, but also because at the same time we wish to celebrate twenty years with our Cast Members and the various public and private partners who, together with us, have made Disneyland Paris what it is today.
Question: How do you envision the upcoming months?
Question: How are you preparing for your 20th anniversary in 2012?