Subject: Re: $1.4B Renovation
Next year's cap ex budget is going to be $1.4b.

I missed this -- can you point me to where this was reported?

For FY2024, they've guided capex of 1.3-1.4 billion (press release, 10-Q). But I haven't seen guidance on FY 2025, other than real estate projects (without a number attached).