Have Higher Transportation Costs and a Slowing U.S. Economy … · 2008. 10. 1. · International...

Have Higher Transportation Costs and a Slowing U.S. Economy Shifted Lodging

Demand Within Lodging Sectors?

Trends and implications for sales and marketing strategies:

An examination of trends in room demand, market share, weekday vs. weekend market share, ADR,

and RevPAR by six hotel sectors in the top 25 U.S. travel cities and destinations -

2006 to July 2008

Chad D. Church Manager, Industry Research

Smith Travel Research Hendersonville, TN

Stephen C. Morse, Ph.D. Director & Economist

Tourism Institute University of Tennessee

Knoxville, TN

and

Hotel Sales Strategy Conference Washington, DC

September 9, 2008

Stephen C. Morse, Ph.D., Director & Economist, Tourism Institute, University of Tennessee - Knoxville, and Chad D. Church, Smith Travel Research Page 2

About This Study In June 2008, the Hotel Director of Sales and Marketing Special Interest Group (HDOSM-SIG) of the Hospitality Sales & Marketing Association International (HSMAI) issued a call for papers to the Sales & Marketing Faculty SIG of HSMAI for inclusion in the Hotel Sales and Marketing Conference Sept. 9. Proposals for research papers were received and reviewed by the Faculty SIG’s research committee, and the selection of this paper was made for the inclusion at the conference. Data Source: Smith Travel Research All data sources in this study are from Smith Travel Research, Hendersonville, TN. Special thanks to Duane Vinson, Brad Garner, and Chad Church from Smith Travel Research. Authors Stephen C. Morse, Ph.D. Director & Economist Tourism Institute Hotel, Restaurant, & Tourism Mgt. University of Tennessee Knoxville, TN 37996-1911 Ph: (865) 974-6249; email: [email protected] Web: www.utk.edu/tourism and Chad D. Church Manager, Industry Research Smith Travel Research 735 East Main St. Hendersonville, TN 37075 Ph: (615) 824-8664, Ext. 400 Email: [email protected] Web: www.smithtravelresearch.com

Julie Jones Director of Special Interest Groups HSMAI Advisory Board Hotel Director of Sales & Marketing Special Interest Group Chair: Mark D. Thompson, Vice President of Marketing, Irving Texas CVB Vice-Chair: Heather Allison-Smith, Director of Sales and Marketing, Ritz-Carlton, St. Louis Bart Berkey, Director of Talent Acquisition-Sales & Marketing, Ritz-Carlton Hotels Susan Cecere, CHME, Director of Revenue Dev., Carlson Hotels Worldwide Lisa French, Area Account Executive, Marriott International John Hawley, Director of Client & Industry Relations, Dana Communications Linda Hwong, Area Account Executive, Marriott International Ron Loman, Director of Field Sales, Crestline Hotels & Resorts, Inc. Laurie Meacham, CMP, Director of National Sales, The Broadmoor Hotel Lynn Mucciano, Corporate Director of Marketing, Turnberry Associates Dennis Noonan, Director of Sales, Nemacolin Woodlands Resort Jean Spaulding, Senior Vice President, Market Analysis & Business Development, Noble Investment Group Cheryl Street, Director of Sales & Marketing, Hampton Inn & Suites - Surprise, Arizona Advisory Board Sales and Marketing Faculty Special Interest Group Chair: Thomas Cannon, University of Texas-San Antonio Vice Chair: Dan Creed, Normandale Community College Eric Brey, University of Memphis Katie Davin, CHE, Johnson & Wales University, Providence, RI Robin DiPietro, University of Nebraska-Lincoln Mike Hampton, Lynn University Steve Morse, University of Tennessee Mark Newton, Gwinnett Technical College Donna Quadri-Felitti, New York University Marcia Taylor, East Carolina University


Table of Contents Introduction: Executive Summary p. 4-5 Introduction & Purpose of Study p. 6 Background of Study p. 6 Methodology & Data p. 6 Analysis & Implications for Sales & Marketing: Have Travelers Shifted Lodging Demand Within Lodging Sectors? p. 7 Trends in Weekend (leisure) Room Demand p. 8 Trends in Weekday (business) Room Demand p. 9 Trends in Occ. Rate, ADR, and RevPAR by Six hotel sectors p. 10 Weekday vs. Weekend Market Share of Total Rooms Sold, Top 25 U.S. Travel Cities & Destinations, 2006 - 2008 p. 11-12

Trends for Top 25 U.S. Cities, 2006 - 2008: A) Market Share of Total Rooms Sold by Hotel Sector; B) Occ. Rate, ADR, RevPAR; C) Weekday vs. Weekend Market Share of Total Rooms Sold by Hotel Sector

Orlando, FL p. 13 Anaheim - Santa Ana, CA p. 14 Los Angeles - Long Beach, FL p. 15 San Diego, CA p. 16 San Francisco - San Mateo, CA p. 17 Washington, DC - MD - VA p. 18 Miami - Hialeah, FL p. 19 Tampa - St. Petersburg, FL p. 20 Atlanta, GA p. 21 Chicago, IL p. 22 Oahu Island, HI p. 23 New Orleans, LA p. 24 Boston, MA p. 25 New York, NY p. 26 Philadelphia, PA - NJ p. 27 Dallas, TX p. 28 Houston, TX p. 29 Seattle, WA p. 30 Phoenix, AZ p. 31 Denver, CO p. 32 Detroit, MI p. 33 Minneapolis - St. Paul, MN - WI p. 34 Nashville, TN p. 35 Norfolk - Virginia Beach, VA p. 36 St. Louis, IL - MO p. 37


Executive Summary Purpose of the Study: The purpose of this study is to examine if higher travel transportation costs and a slowing U.S. economy has shifted lodging demand for leisure and business travelers within lodging sectors from 2006 - July 2008. Methodology & Data: Room demand in six hotel sectors in the top 25 U.S. travel cities and destinations were examined over a two year and seven month time period from January 2006 to July 2008. Data from Smith Travel Research reporting annual room demand for weekday vs. weekend, market share of room demand for the six hotel sectors in each city, occupancy rates, ADR’s, and RevPar’s were examined over the time period . The six hotel sectors examined are 1) Luxury, 2) Upper Upscale, 3) Upscale, 4) Midscale with F&B, and 5) Economy / Budget. Main Question: Have Higher Transportation Costs and a Slowing U.S. Economy Shifted Lodging Demand Within Lodging Sectors? Summary of Analysis: There has been steady and slightly increase in demand in the Luxury and Upper Upscale markets, which have gained market share of total rooms sold. There has been deceases in market share of total rooms sold for Upscale, Midscale with F&B, Midscale without F&B, and Economy / Budget sectors

Weekend Room Demand (leisure travel) - For the top 25 U.S. travel cities, all but two cities saw a decrease in market share of total rooms sold to weekend travelers for year to date July 2008 compared with 2007. Philadelphia and St. Louis were the only two cities showing an increase in weekend share demand as a percent of total rooms sold. Weekend leisure travel demand is generating less percent market share of total rooms sold. Weekday Room Demand (business travel) - For the top 25 U.S. travel cities, all but two cities showed increases in market share of total rooms sold to weekday travelers for year to date July 2008 compared with 2007. Philadelphia and St. Louis were the only two cities showing an decrease in weekday market share demand as a percent of total rooms sold. Weekday business travel is generating larger percent shares of total rooms sold. Market Share Percent of Total Rooms Sold by Hotel Sector: • Luxury - a majority of markets show an increase in market

share of total rooms sold. • Upper Upscale - most markets show increases in market

share of total rooms sold. • Upscale - most markets show little change or small

increases in market share of total rooms sold. • Midscale with F&B - most markets show decreases in

market share of total rooms sold. • Midscale without F&B - most markets show little change or

small increases in market share of total rooms sold. • Economy / Budget - all but one market showed decreases

in market share of total rooms. The San Francisco - San Mateo market is the only market showing an increase in percent share of total rooms sold.


Trends in Occ. Rate, ADR, and RevPAR by hotel sector in the top 25 U.S. travel cities: Luxury: • Occ. Rates decreased slightly in 14 markets and increased

slightly in 4 markets • ADR increased in 15 markets, decreased in 3 markets • RevPAR’s mixed, increasing in 10 markets, deceasing in 8

markets Upper Upscale: • Occ. Rates increased in 10 markets, decreased in 13 markets • ADR increased in 19 markets, decreased in 4 markets • RevPAR increased in 15 markets, decreased in 8 markets Upscale: • Occ. Rates increased in 9 markets, decreased in 15 markets • ADR increased in 20 markets, decreased in 2 markets • RevPAR increased in 17 markets, decreased in 6 markets Midscale with F&B: • Occ, Rates increased in 4 markets, decreased in 19 markets • ADR increased in 20 markets, decreased in 3 markets • RevPAR increased in 11 markets, decreased in 12 markets Midscale without F&B: • Occ. Rates increased in 3 markets, decreased in 19 markets • ADR increased in 21 markets, decreased in 1 market • RevPAR increased in 14 markets, decreased in 8 markets Economy / Budget: • Occ. Rates increased in 4 markets, decreased in 18 markets • ADR have increased in 18 markets, decreased in 4 markets • RevPAR increased in 6 markets, decreased in 16 markets

Implications for Sales & Marketing Strategies: • Weekend leisure travel has decreased as a percent of total

rooms sold, indicating opportunities for sales to local drive-to markets could be sales and marketing focus.

• Weekday business travel has increased as a percent of total

rooms sold, indicating strong business demand and opportunities to limit discounting to business travelers.

• Lower occupancy rates in Upscale, Midscale with F&B,

Midscale without F&B, and Economy / Budget sectors indicate opportunities for sales and marketing efforts to closer drive-to travelers.

• ADR’s across all sectors have remained strong in the first half

of 2008. However there is some evidence of eroding hotel rated and increased discounting in the second half of 2008.

• Revenue Management decisions should limit discounting as

lower hotel rates have bee shown to be little influence on travel decisions, with gas and airfares being more important in driving demand than lower hotel rates.

• Little discounting is needed as discounting will only erode

revenue from existing travelers and not influence overall demand for travel.


Have Higher Transportation Costs and a Slowing U.S. Economy Shifted Lodging

Demand Within Lodging Sectors?

Introduction & Purpose The purpose of this study is to examine if higher travel transportation costs and a slowing U.S. economy has shifted lodging demand for leisure and business travelers within lodging sectors. This study examines trends in room demand, market share, leisure and business travel with weekday vs. weekend occupancy, ADR, and RevPAR in the top 25 U.S. travel cities and destinations for 2006 to July 2008 by five hotel sectors including: 1) Luxury hotels 2) Upper Upscale hotels 3) Upscale hotels 4) Midscale with F&B 5) Midscale without F&B 6) Economy / Budget Background Gas prices and airfare prices have sharply increased since January 2006. Higher transportation costs impact many choices in consumer’s decision to travel. Those consumers choosing to travel in light of higher transportation prices may choose to substitute lower quantities and lower priced services of other travel purchases (hotel rooms, restaurant meals) freeing up more money to purchase gas and airfare during their trip.

In the retail sector of the economy, there is evidence in light of the U.S. slowdown some consumers have chosen to favor lower priced retailers. For example, some consumers that prior to the economic slowdown shopped at higher-end retailers such as Macy’s, Target, and JC Penney have now chosen to spend at lower priced retailers such as Wal-Mart and other discount retailers. Similarly, since April 2006 when nationwide gas prices first increased to over $3 per gallon, and airfares increased substantially, these increases in transportation costs have taken a larger share of both leisure and business traveler’s budgets. Some hotel sales professionals believe these increased transportation costs and the slowing U.S. economy have contributed to a shift in demand within the hotel sector as both leisure and business travelers trade-off higher transportation costs for lower priced and valued properties. Methodology & Data Room demand in six hotel sectors in the top 25 U.S. travel cities and destinations were examined over a two year and seven month time period from January 2006 to July 2008. Data from Smith Travel Research reporting annual room demand for weekday vs. weekend, market share of room demand for the six hotel sectors in each city, occupancy rates, ADR’s, and RevPar’s were examined over the time period .


Have Travelers Shifted Demand Within Lodging Sectors in the Period 2006 - July 2008?

• Luxury - a majority of markets show an increase in

market share of total rooms sold. • Upper Upscale - most markets show increases in

market share of total rooms sold. • Upscale - most markets show little change or small

increases in market share of total rooms sold. • Midscale with F&B - most markets show

decreases in market share of total rooms sold. • Midscale without F&B - most markets show little

change or small increases in market share of total rooms sold.

• Economy / Budget - all but one market showed decreases in market share of total rooms. San Francisco - San Mateo market is the only market showing an increase in percent share of total rooms sold.

Implications for Sales & Marketing Strategies • The most significant shift in lodging demand is

shown to be a moderate shift away from the Midscale with F&B sector, and a small shift away from the Economy / Budget sector.

• Strong demand exists in the Luxury and Upper Upscale markets.

• Limited discounting in all markets as lower hotel rates will not drive travel demand.

Boston, MA Hotel Market Share: Percent of Total Rooms Sold

by Hotel Class, 2006 - 2008*

Hotel Class 2006 2007 2008*Luxury 4.0% 4.8% 5.3%Upper Upscale 41.5% 41.3% 41.8%Upscale 21.0% 20.3% 20.4%Midscale with F&B 10.5% 10.3% 9.9%Midscale w/o F&B 11.2% 11.3% 11.1%Economy / Budget 11.7% 12.0% 11.6%TOTAL MARKET SHARE 100.0% 100.0% 100.0%

Washington, D C -MD -V A Hotel Market Share: Percent of Total Rooms Sold



Los Angeles-Long Beach, CA Hotel Market Share: Percent of Total Rooms Sold



Source: Smith Travel Research


Weekend Room Demand (leisure travel) For the top 25 U.S. travel cities, all but two cities saw a decrease in market share of weekend travelers for year to date July 2008 compared with 2007. Philadelphia and St. Louis were the only two cities showing an increase in weekend share demand as a percent of total rooms sold. At right, the top 25 U.S. travel cities are ranked from largest percent change to smallest percent change in weekend market share from 2007 - July 2008. For example, for Philadelphia, weekend percent of total rooms sold was 26.4% of all rooms sold, while in 2008 weekend percent of all rooms sold was 27.4%, representing an increase of +0.9% increase in weekend market share percent of all rooms sold. Implications for Sales & Marketing Strategies • Weekend room demand indicates leisure travel has

decreased in 23 out of the top 25 U.S. travel markets in 2008.

• In areas where 2008 weekend market share has

decreased, sales and marketing focus on generating local leisure demand.

• Deep discounting will not increase leisure travel

demand. Strategic and limited discounting to local leisure travelers may generate local weekend demand.

Change in Percent Total Market Share of Weekend Room Demand (leisure demand), 2007 - July 2008 1) Philadelphia, PA - NJ +0.9% 2) St. Louis, MO +0.5% 3) San Diego, CA -0.3% Washington, DC - MD - VA -0.3% 4) Norfolk - Virginia Beach, VA -0.6% 5) Boston, MA -0.9% 6) Atlanta, GA -1.2% 7) Tampa - St. Petersburg, FL -1.4% Detroit, MI -1.4% 8) New Orleans, LA -1.6% 9) Seattle, WA -1.8% 10) Minneapolis - St. Paul, MN -2.2% Los Angeles - Long Beach, CA -2.2% 11) Anaheim - Santa Ana, CA -2.6% 12) Phoenix, AZ -2.6% 13) Chicago, IL -2.6% 14) Nashville, TN -2.7% Dallas, TX -2.7% Miami - Hialeah, FL -2.7% 15) Houston, TX -3.2% 16) Oahu Island, HI -3.8% 17) New York, NY -4.2% 18) San Francisco—San Mateo, CA -4.7% Average Change Top 25 Cities -2.9%


Weekday Room Demand (business travel) For the top 25 U.S. travel cities, all but two cities showed increases in market share of weekday travelers for year to date July 2008 compared with 2007. Philadelphia and St. Louis were the only two cities showing an decrease in weekday market share demand as a percent of total rooms sold. At right, the top 25 U.S. travel cities are ranked from largest percent change to smallest percent change in weekend market share from 2007 - July 2008. For example, San Francisco - San Mateo, CA market had 68.4% of total rooms sold to weekday travelers in 2007, while to July 2008, the market share of total market share of rooms sold to weekday travelers increases to 73.1%, representing an increase in weekday market share of +4.7% during this period. Implications for Sales & Marketing Strategies • Weekday travels indicates business travel is steady

in 23 our of the top 25 travel markets in the U.S. • Sales, marketing, and revenue management

strategies should include limited discounting in strong business travel markets.

• Deep discounting could erode revenue in strong

markets.

Change in Percent Total Market Share of Weekday Room Demand (business demand), 2007 - July 2008 1) San Francisco - San Mateo, CA +4.7% 2) New York, NY +4.2% 3) Oahu Island, HI +3.8% 4) Houston, TX +3.2% 5) Nashville, TN +2.7% Dallas, TX +2.7% Miami - Hialeah, FL +2.7% 6) Chicago, IL +2.6% 7) Phoenix, AZ +2.6% 8) Anaheim - Santa Ana, CA +2.6% 9) Minneapolis - St. Paul, MN +2.2% Los Angeles - Long Beach, CA +2.2% 10) Seattle, WA +1.8% 11) New Orleans, LA +1.6% 12)Tampa - St. Petersburg, FL +1.4% Detroit, MI +1.4% 13) Atlanta, GA +1.2% 14) Boston, MA +0.9% 15) Norfolk - Virginia Beach, VA +0.6% 16) San Diego, CA +0.3% Washington, DC - MD - VA +0.3% 17) St. Louis, MO -0.5% 18) Philadelphia, PA - NJ -0.9% Average Change Top 25 Cities +2.9%


Trends in 2008 vs, 2007 Occ. Rate, ADR, and RevPAR by Hotel Sector:

Luxury: • Occ. Rates decreased slightly in 14 markets and

increased slightly in 4 markets • ADR increased in 15 markets, decreased in 3

markets • RevPAR’s mixed, increasing in 10 markets,

deceasing in 8 markets Upper Upscale: • Occ. Rates increased in 10 markets, decreased in 13

markets • ADR increased in 19 markets, decreased in 4

markets • RevPAR increased in 15 markets, decreased in 8

markets Upscale: • Occ. Rates increased in 9 markets, decreased in 15

markets • ADR increased in 20 markets, decreased in 2


markets Midscale with F&B: • Occ, Rates increased in 4 markets, decreased in 19

markets

• ADR increased in 20 markets, decreased in 3 markets

• RevPAR increased in 11 markets, decreased in 12 markets

Midscale without F&B: • Occ. Rates increased in 3 markets, decreased in 19

markets • ADR increased in 21 markets, decreased in 1 market • RevPAR increased in 14 markets, decreased in 8

markets Economy / Budget: • Occ. Rates increased in 4 markets, decreased in 18

markets • ADR have increased in 18 markets, decreased in 4


markets • Implications for Sales & Marketing Strategies: • Sales & revenue managers should limit discounts as

lower hotel rates do not drive travel demand, and only erodes revenue from travelers.

• Luxury and Upper Upscale markets remain strong, no discounting needed

• Upscale, Midscale with F&B, Midscale without F&B, and Economy / Budget markets are stronger in resort

Stephen C. Morse, Ph.D., Director & Economist, Tourism Institute, University of

Average Top 25 Markets Weekday Weekend Total2006 67.9% 32.1% 100%2007 68.9% 30.8% 100%2008* 72.2% 27.9% 100%

Phoenix, AZ Weekday Weekend Total2006 67.7% 32.3% 100%2007 71.4% 28.6% 100%2008* 74.1% 25.9% 100%

Anaheim‐Santa Ana, CA Weekday Weekend Total2006 67.4% 32.6% 100%2007 69.8% 30.2% 100%2008* 72.5% 27.5% 100%

Los Angeles‐Long Beach, CA Weekday Weekend Total2006 67.1% 32.9% 100%2007 70.9% 29.1% 100%2008* 73.1% 26.9% 100%

San Diego, CA Weekday Weekend Total2006 67.8% 32.2% 100%2007 70.6% 29.4% 100%2008* 70.9% 29.1% 100%

San Francisco/San Mateo, CA Weekday Weekend Total2006 66.1% 33.9% 100%2007 68.4% 31.6% 100%2008* 73.1% 26.9% 100%

Denver, CO Weekday Weekend Total2006 69.4% 30.6% 100%2007 72.3% 27.7% 100%2008* 74.8% 25.2% 100%

Washington, DC‐MD‐VA Weekday Weekend Total2006 71.4% 28.6% 100%2007 74.4% 25.6% 100%2008* 74.7% 25.3% 100%

Miami‐Hialeah, FL Weekday Weekend Total2006 65.0% 35.0% 100%2007 68.9% 31.1% 100%2008* 71.6% 28.4% 100%

Top 25 U.S. Cities & Destinations

Total Percent

WEEK‐DAY percent of total rooms

sold (Sun‐Thurs)

WEEK‐END percent of total rooms

sold (Fri‐Sat)

Orlando, FL Weekday Weekend Total2006 65.5% 34.5% 100%2007 68.2% 31.8% 100%2008* 71.8% 28.2% 100%

Tampa‐St Petersburg, FL Weekday Weekend Total2006 66.7% 33.3% 100%2007 71.3% 28.7% 100%2008* 72.7% 27.3% 100%

Atlanta, GA Weekday Weekend Total2006 65.3% 34.7% 100%2007 70.8% 29.2% 100%2008* 72.0% 28.0% 100%

Oahu Island, HI Weekday Weekend Total2006 65.5% 34.5% 100%2007 69.2% 30.8% 100%2008* 73.0% 27.0% 100%

Chicago, IL Weekday Weekend Total2006 67.0% 33.0% 100%2007 69.5% 30.5% 100%2008* 72.0% 28.0% 100%

New Orleans, LA Weekday Weekend Total2006 63.8% 36.2% 100%2007 68.0% 32.0% 100%2008* 69.6% 30.4% 100%

Boston, MA Weekday Weekend Total2006 69.6% 30.4% 100%2007 73.2% 26.8% 100%2008* 74.1% 25.9% 100%

Detroit, MI Weekday Weekend Total2006 69.7% 30.3% 100%2007 72.2% 27.8% 100%2008* 73.5% 26.5% 100%

Minneapolis‐St Paul, MN‐WI Weekday Weekend Total2006 68.6% 31.4% 100%2007 71.9% 28.1% 100%2008* 74.1% 25.9% 100%



sold (Sun‐Thurs)


sold (Fri‐Sat)

Total Percent

Weekday vs. Weekend Market Share of Total Rooms Sold, Top 25 U.S. Travel Cities & Destinations, 2006 - 2008

Source for Data in All Tables: Smith Travel Research Note: 2008* = year to date to July 31, 2008

Stephen C. Morse, Ph.D., Director & Economist, Tourism Institute, University of

St. Louis, MO ‐ IL Weekday Weekend Total2006 66.8% 33.2% 100%2007 71.7% 28.3% 100%2008* 71.2% 28.8% 100%

New York, NY Weekday Weekend Total2006 66.6% 33.4% 100%2007 69.7% 30.3% 100%2008* 73.9% 26.1% 100%

Philadelphia, PA‐NJ Weekday Weekend Total2006 69.1% 30.9% 100%2007 73.6% 26.4% 100%2008* 72.6% 27.4% 100%

Nashville, TN Weekday Weekend Total2006 63.8% 36.2% 100%2007 68.9% 31.1% 100%2008* 71.6% 28.4% 100%

Dallas, TX Weekday Weekend Total2006 69.5% 30.5% 100%2007 73.1% 26.9% 100%2008* 75.8% 24.2% 100%

Houston, TX Weekday Weekend Total2006 70.4% 29.6% 100%2007 73.5% 26.5% 100%2008* 76.6% 23.4% 100%

Norfolk‐Virginia Beach, VA Weekday Weekend Total2006 64.7% 35.3% 100%2007 68.7% 31.3% 100%2008* 69.3% 30.7% 100%

Seattle, WA Weekday Weekend Total2006 68.8% 31.2% 100%2007 71.5% 28.5% 100%2008* 73.3% 26.7% 100%



sold (Sun‐Thurs)


sold (Fri‐Sat)

Total Percent

Weekday vs. Weekend Market Share of Total Rooms Sold, Top 25 U.S. Travel Cities & Destinations, 2006 - 2008

Source for Data in All Tables: Smith Travel Research Note: 2008* = year to date to July 31, 2008


Orlando, FL: Hotel Class Market Share Analysis, 2006 - 2008* Source for Data in All Tables: Smith Travel Research Note: 2008* = year to date to July 31, 2008

Orlando, FL Hotel Market Share: Percent of Total Rooms Sold


Orlando, FL Hotel Performance by Hotel Class, 2006 - 2008*

Orlando, FL Weekday vs. Weekend Market Share of

Total Rooms Sold by Hotel Class, 2006 - 2008*

This Year Last Year % Change This Year Last Year % Change This Year Last Year % Change

Luxury2006 75.3% 74.8% 0.6% $215.11 $206.99 3.9% $161.93 $154.93 4.5%2007 74.7% 75.3% ‐0.8% $220.56 $215.11 2.5% $164.75 $161.93 1.7%2008* 78.3% 79.6% ‐1.6% $233.39 $228.31 2.2% $182.70 $181.63 0.6%

Upper Upscale2006 73.0% 73.4% ‐0.6% $149.71 $140.93 6.2% $109.23 $103.41 5.6%2007 73.7% 73.0% 1.0% $155.88 $149.71 4.1% $114.82 $109.23 5.1%2008* 78.4% 77.9% 0.7% $166.02 $161.08 3.1% $130.24 $125.45 3.8%

Upscale2006 71.4% 75.2% ‐5.0% $95.48 $88.82 7.5% $68.15 $66.75 2.1%2007 72.1% 71.4% 1.0% $99.33 $95.48 4.0% $71.61 $68.15 5.1%2008* 75.4% 77.8% ‐3.0% $104.80 $103.08 1.7% $79.03 $80.16 ‐1.4%

Midscale with F&B2006 67.7% 68.9% ‐1.7% $68.34 $62.31 9.7% $46.28 $42.94 7.8%2007 65.7% 67.7% ‐3.0% $68.63 $68.34 0.4% $45.09 $46.28 ‐2.6%2008* 70.1% 71.2% ‐1.6% $70.98 $71.92 ‐1.3% $49.73 $51.18 ‐2.8%

Midscale w/o F&B2006 68.7% 72.3% ‐5.0% $70.03 $64.54 8.5% $48.08 $46.63 3.1%2007 68.3% 68.7% ‐0.5% $73.27 $70.03 4.6% $50.06 $48.08 4.1%2008* 71.6% 72.5% ‐1.3% $76.48 $75.83 0.9% $54.73 $54.97 ‐0.4%

Economy / Budget2006 58.5% 64.2% ‐8.9% $44.77 $42.87 4.4% $26.21 $27.54 ‐4.8%2007 56.9% 58.5% ‐2.8% $44.84 $44.77 0.2% $25.52 $26.21 ‐2.6%2008* 59.8% 62.0% ‐3.6% $43.56 $45.95 ‐5.2% $26.05 $28.50 ‐8.6%

Hotel ClassOccupancy Rate Avg. Daily Rate (ADR) Rev. Per Avail. Room (RevPAR)


Luxury Weekday Weekend Total2006 66.0% 34.0% 100%2007 67.8% 32.2% 100%2008* 72.5% 27.5% 100%

Upper Upscale Weekday Weekend Total2006 65.8% 34.2% 100%2007 68.9% 31.1% 100%2008* 72.9% 27.1% 100%

Upscale Weekday Weekend Total2006 66.3% 33.7% 100%2007 69.2% 30.8% 100%2008* 71.7% 28.3% 100%

Midscale with F&B Weekday Weekend Total2006 64.9% 35.1% 100%2007 66.4% 33.6% 100%2008* 72.2% 27.8% 100%

Midscale without F&B Weekday Weekend Total2006 66.3% 33.7% 100%2007 69.4% 30.6% 100%2008* 72.6% 27.4% 100%

Economy / Budget Weekday Weekend Total2006 63.8% 36.2% 100%2007 66.5% 33.5% 100%2008* 69.0% 31.0% 100%

Total Orlando Market Weekday Weekend Total2006 65.5% 34.5% 100%2007 68.2% 31.8% 100%2008* 71.8% 28.2% 100%

Orlando, FL: Hotel Class


sold (Sun‐Thurs)


sold (Fri‐Sat)

Total Percent


Anaheim-Santa Ana, CA: Hotel Class Market Share Analysis, 2006 - 2008* Source for Data in All Tables: Smith Travel Research Note: 2008* = year to date to July 31, 2008

Anaheim-Santa Ana, CA Hotel Market Share: Percent of Total Rooms Sold


Anaheim-Santa Ana, CA Hotel Performance by Hotel Class, 2006 - 2008*

Anaheim-Santa Ana, CA Weekday vs. Weekend Market Share of



Luxury2006 65.9% 60.8% 8.4% $341.89 $328.64 4.0% $225.26 $199.68 12.8%2007 71.4% 65.9% 8.4% $342.96 $341.89 0.3% $244.99 $225.26 8.8%2008* 70.6% 71.8% ‐1.7% $339.44 $340.25 ‐0.2% $239.74 $244.43 ‐1.9%

Upper Upscale2006 71.2% 74.7% ‐4.6% $141.13 $128.65 9.7% $100.55 $96.04 4.7%2007 72.1% 71.2% 1.2% $151.78 $141.13 7.5% $109.42 $100.55 8.8%2008* 73.9% 75.4% ‐1.9% $154.56 $155.11 ‐0.4% $114.23 $116.91 ‐2.3%

Upscale2006 71.8% 74.3% ‐3.4% $112.49 $101.33 11.0% $80.74 $75.29 7.2%2007 71.5% 71.8% ‐0.3% $118.92 $112.49 5.7% $85.06 $80.74 5.3%2008* 70.5% 74.2% ‐5.1% $122.67 $119.15 3.0% $86.43 $88.44 ‐2.3%

Midscale with F&B2006 72.2% 72.7% ‐0.7% $87.07 $79.64 9.3% $62.90 $57.92 8.6%2007 72.4% 72.2% 0.3% $92.00 $87.07 5.7% $66.62 $62.90 5.9%2008* 73.0% 74.7% ‐2.4% $95.64 $93.28 2.5% $69.78 $69.72 0.1%

Midscale w/o F&B2006 71.2% 73.1% ‐2.6% $85.08 $75.56 12.6% $60.57 $55.22 9.7%2007 68.8% 71.2% ‐3.4% $91.94 $85.08 8.1% $63.24 $60.57 4.4%2008* 69.9% 71.7% ‐2.5% $95.47 $92.68 3.0% $66.74 $66.48 0.4%

Economy / Budget2006 72.2% 74.1% ‐2.6% $58.63 $55.35 5.9% $42.30 $41.00 3.2%2007 71.0% 72.2% ‐1.6% $59.60 $58.63 1.7% $42.31 $42.30 0.0%2008* 70.7% 74.1% ‐4.6% $59.70 $59.92 ‐0.4% $42.19 $44.42 ‐5.0%









Total Anaheim Market Weekday Weekend Total2006 67.4% 32.6% 100%2007 69.8% 30.2% 100%2008* 72.5% 27.5% 100%

Anaheim ‐ Santa Ana, CA: Hotel Class


sold (Sun‐Thurs)


sold (Fri‐Sat)

Total Percent


Los Angeles-Long Beach, CA: Hotel Class Market Share Analysis, 2006 - 2008* Source for Data in All Tables: Smith Travel Research Note: 2008* = year to date to July 31, 2008

Los Angeles-Long Beach, CA Hotel Market Share: Percent of Total Rooms Sold


Los Angeles-Long Beach, CA Hotel Performance by Hotel Class, 2006 - 2008*

Los Angeles-Long Beach, CA Weekday vs. Weekend Market Share of



Luxury2006 72.3% 74.5% ‐2.9% $326.07 $287.62 13.4% $235.86 $214.21 10.1%2007 73.9% 72.3% 2.2% $347.86 $326.07 6.7% $257.23 $235.86 9.1%2008* 76.3% 73.6% 3.7% $381.86 $345.44 10.5% $291.32 $254.21 14.6%

Upper Upscale2006 76.2% 74.2% 2.6% $140.47 $128.34 9.4% $107.00 $95.24 12.3%2007 77.2% 76.2% 1.4% $147.74 $140.47 5.2% $114.11 $107.00 6.6%2008* 77.8% 78.0% ‐0.3% $155.40 $148.72 4.5% $120.94 $116.05 4.2%

Upscale2006 80.6% 81.1% ‐0.6% $112.76 $102.98 9.5% $90.92 $83.55 8.8%2007 80.0% 80.6% ‐0.7% $121.86 $112.76 8.1% $97.54 $90.92 7.3%2008* 77.9% 81.1% ‐3.9% $127.14 $120.93 5.1% $99.08 $98.09 1.0%

Midscale with F&B2006 74.1% 74.3% ‐0.2% $91.22 $84.10 8.5% $67.60 $62.45 8.3%2007 75.4% 74.1% 1.7% $96.43 $91.22 5.7% $72.69 $67.60 7.5%2008* 74.9% 76.0% ‐1.5% $99.81 $96.00 4.0% $74.72 $72.96 2.4%

Midscale w/o F&B2006 74.1% 74.1% 0.1% $91.81 $85.06 7.9% $68.05 $62.99 8.0%2007 71.5% 74.1% ‐3.6% $98.49 $91.81 7.3% $70.38 $68.05 3.4%2008* 69.6% 73.2% ‐4.9% $101.47 $97.99 3.6% $70.66 $71.78 ‐1.6%

Economy / Budget2006 74.8% 74.4% 0.6% $64.19 $60.55 6.0% $48.03 $45.04 6.6%2007 73.3% 74.8% ‐2.0% $66.91 $64.19 4.2% $49.04 $48.03 2.1%2008* 71.7% 74.7% ‐4.0% $67.93 $66.39 2.3% $48.71 $49.59 ‐1.8%









Total Los Angeles Market Weekday Weekend Total2006 67.1% 32.9% 100%2007 70.9% 29.1% 100%2008* 73.1% 26.9% 100%

Los Angeles ‐ Long Beach, CA:

Hotel Class


sold (Sun‐Thurs)


sold (Fri‐Sat)

Total Percent

Los Angeles - Long Beach, CA:

Hotel Class


San Diego, CA: Hotel Class Market Share Analysis, 2006 - 2008* Source for Data in All Tables: Smith Travel Research Note: 2008* = year to date to July 31, 2008

San Diego, CA Hotel Market Share: Percent of Total Rooms Sold


San Diego, CA Hotel Performance by Hotel Class, 2006 - 2008*

San Diego, CA Weekday vs. Weekend Market Share of



Luxury2006 72.0% 73.7% ‐2.4% $225.17 $210.65 6.9% $162.01 $155.26 4.3%2007 71.5% 72.0% ‐0.6% $232.27 $225.17 3.2% $166.04 $162.01 2.5%2008* 70.8% 75.2% ‐5.7% $244.96 $236.96 3.4% $173.53 $178.09 ‐2.6%

Upper Upscale2006 77.4% 76.5% 1.1% $180.18 $165.53 8.9% $139.39 $126.65 10.1%2007 76.1% 77.4% ‐1.6% $185.91 $180.18 3.2% $141.56 $139.39 1.6%2008* 78.7% 77.8% 1.1% $193.03 $191.37 0.9% $151.90 $148.97 2.0%

Upscale2006 76.2% 76.2% 0.0% $135.66 $127.30 6.6% $103.38 $97.05 6.5%2007 75.3% 76.2% ‐1.3% $143.69 $135.66 5.9% $108.13 $103.38 4.6%2008* 76.6% 76.1% 0.7% $146.98 $144.83 1.5% $112.64 $110.21 2.2%

Midscale with F&B2006 73.4% 72.4% 1.3% $107.61 $100.77 6.8% $78.98 $73.00 8.2%2007 72.5% 73.4% ‐1.3% $114.20 $107.61 6.1% $82.76 $78.98 4.8%2008* 71.6% 73.8% ‐3.0% $117.26 $114.95 2.0% $83.92 $84.78 ‐1.0%

Midscale w/o F&B2006 72.9% 70.8% 3.0% $101.15 $92.09 9.8% $73.79 $65.23 13.1%2007 73.8% 72.9% 1.1% $110.01 $101.15 8.8% $81.13 $73.79 10.0%2008* 73.3% 75.1% ‐2.5% $114.48 $109.98 4.1% $83.89 $82.61 1.5%

Economy / Budget2006 68.6% 66.8% 2.7% $65.71 $63.47 3.5% $45.08 $42.38 6.4%2007 69.6% 68.6% 1.5% $67.95 $65.71 3.4% $47.31 $45.08 4.9%2008* 68.6% 70.8% ‐3.0% $68.62 $68.11 0.7% $47.10 $48.19 ‐2.3%









Total San Diego Market Weekday Weekend Total2006 67.8% 32.2% 100%2007 70.6% 29.4% 100%2008* 70.9% 29.1% 100%

San Diego, CA: Hotel Class


sold (Sun‐Thurs)


sold (Fri‐Sat)

Total Percent


San Francisco/San Mateo, CA: Hotel Class Market Share Analysis, 2006 - 2008* Source for Data in All Tables: Smith Travel Research Note: 2008* = year to date to July 31, 2008

San Francisco/San Mateo, CA Hotel Market Share: Percent of Total Rooms Sold


San Francisco/San Mateo, CA Hotel Performance by Hotel Class, 2006 - 2008*

San Francisco/San Mateo, CA Weekday vs. Weekend Market Share of



Luxury2006 71.6% 73.4% ‐2.5% $252.78 $226.16 11.8% $180.99 $166.02 9.0%2007 73.1% 71.6% 2.1% $272.72 $252.78 7.9% $199.32 $180.99 10.1%2008* 75.6% 70.3% 7.5% $268.76 $265.66 1.2% $203.17 $186.84 8.7%

Upper Upscale2006 76.2% 77.1% ‐1.2% $159.54 $145.37 9.7% $121.53 $112.08 8.4%2007 77.1% 76.2% 1.2% $174.37 $159.54 9.3% $134.36 $121.53 10.6%2008* 78.6% 75.8% 3.7% $179.65 $169.90 5.7% $141.19 $128.71 9.7%

Upscale2006 76.0% 73.0% 4.1% $119.20 $106.63 11.8% $90.59 $77.84 16.4%2007 76.2% 76.0% 0.3% $131.09 $119.20 10.0% $99.94 $90.59 10.3%2008* 75.0% 75.5% ‐0.7% $136.45 $126.98 7.5% $102.27 $95.84 6.7%

Midscale with F&B2006 74.1% 71.6% 3.4% $99.10 $90.20 9.9% $73.40 $64.59 13.6%2007 75.1% 74.1% 1.4% $106.81 $99.10 7.8% $80.20 $73.40 9.3%2008* 73.4% 73.9% ‐0.7% $114.42 $101.70 12.5% $83.97 $75.19 11.7%

Midscale w/o F&B2006 70.9% 67.8% 4.6% $94.22 $84.43 11.6% $66.83 $57.23 16.8%2007 72.4% 70.9% 2.0% $105.60 $94.22 12.1% $76.41 $66.83 14.3%2008* 72.7% 70.3% 3.3% $110.80 $102.29 8.3% $80.52 $71.94 11.9%

Economy / Budget2006 66.9% 61.9% 8.1% $65.51 $59.69 9.7% $43.84 $36.97 18.6%2007 71.3% 66.9% 6.5% $68.88 $65.51 5.2% $49.12 $43.84 12.0%2008* 71.6% 68.9% 3.9% $70.75 $66.04 7.1% $50.63 $45.47 11.3%









Total San Francisco Market Weekday Weekend Total2006 66.1% 33.9% 100%2007 68.4% 31.6% 100%2008* 73.1% 26.9% 100%

San Francisco ‐ San Mateo, CA: Hotel Class


sold (Sun‐Thurs)


sold (Fri‐Sat)

Total Percent

San Francisco - San Mateo, CA:

Hotel Class


Washington, DC-MD-VA: Hotel Class Market Share Analysis, 2006 - 2008* Source for Data in All Tables: Smith Travel Research Note: 2008* = year to date to July 31, 2008

Washington, DC-MD-VA Hotel Market Share: Percent of Total Rooms Sold


Washington, DC-MD-VA Hotel Performance by Hotel Class, 2006 - 2008*

Washington, DC-MD-VA Weekday vs. Weekend Market Share of



Luxury2006 68.3% 71.5% ‐4.4% $270.21 $252.73 6.9% $184.65 $180.68 2.2%2007 70.9% 68.3% 3.8% $291.23 $270.21 7.8% $206.57 $184.65 11.9%2008* 71.6% 73.4% ‐2.5% $285.60 $285.95 ‐0.1% $204.38 $209.96 ‐2.7%

Upper Upscale2006 70.9% 75.1% ‐5.7% $176.34 $165.14 6.8% $124.96 $124.10 0.7%2007 72.2% 70.9% 1.8% $183.26 $176.34 3.9% $132.23 $124.96 5.8%2008* 75.3% 75.3% 0.0% $188.11 $183.61 2.4% $141.60 $138.23 2.4%

Upscale2006 71.9% 75.9% ‐5.2% $150.80 $140.32 7.5% $108.48 $106.51 1.8%2007 71.2% 71.9% ‐1.0% $154.35 $150.80 2.4% $109.92 $108.48 1.3%2008* 73.9% 74.2% ‐0.5% $157.06 $155.14 1.2% $116.02 $115.16 0.8%

Midscale with F&B2006 64.9% 66.6% ‐2.6% $110.56 $105.13 5.2% $71.72 $70.01 2.4%2007 63.7% 64.9% ‐1.7% $114.54 $110.56 3.6% $73.02 $71.72 1.8%2008* 64.1% 67.0% ‐4.4% $116.50 $114.93 1.4% $74.62 $77.00 ‐3.1%

Midscale w/o F&B2006 71.7% 73.1% ‐1.8% $98.78 $92.87 6.4% $70.84 $67.85 4.4%2007 69.5% 71.7% ‐3.0% $103.51 $98.78 4.8% $71.98 $70.84 1.6%2008* 70.1% 72.3% ‐3.0% $106.95 $103.94 2.9% $74.98 $75.10 ‐0.2%

Economy / Budget2006 64.4% 68.7% ‐6.2% $69.42 $67.45 2.9% $44.73 $46.31 ‐3.4%2007 61.4% 64.4% ‐4.8% $70.89 $69.42 2.1% $43.50 $44.73 ‐2.7%2008* 62.5% 64.3% ‐2.9% $71.80 $70.75 1.5% $44.85 $45.48 ‐1.4%









Total Washington DC Market Weekday Weekend Total2006 71.4% 28.6% 100%2007 74.4% 25.6% 100%2008* 74.7% 25.3% 100%

Washington, DC ‐ MD ‐ VA:

Hotel Class


sold (Sun‐Thurs)


sold (Fri‐Sat)

Total Percent

Washington, DC-MD-VA: Hotel Class


Miami-Hialeah, FL: Hotel Class Market Share Analysis, 2006 - 2008* Source for Data in All Tables: Smith Travel Research Note: 2008* = year to date to July 31, 2008

Miami-Hialeah, FL Hotel Market Share: Percent of Total Rooms Sold


Miami-Hialeah, FL Hotel Performance by Hotel Class, 2006 - 2008*

Miami-Hialeah, FL Weekday vs. Weekend Market Share of

Total Rooms Sold by Hotel Class, 2006 - 2008* Hotel Class 2006 2007 2008*Luxury 11.6% 12.8% 13.6%Upper Upscale 23.3% 22.4% 21.7%Upscale 15.7% 16.6% 16.9%Midscale with F&B 13.1% 12.9% 13.1%Midscale w/o F&B 10.4% 10.3% 9.9%Economy / Budget 25.9% 25.1% 24.9%TOTAL MARKET SHARE 100.0% 100.0% 100.0%


Luxury2006 73.9% 73.9% 0.0% $262.68 $239.21 9.8% $194.02 $176.70 9.8%2007 74.6% 73.9% 1.0% $286.83 $262.68 9.2% $213.89 $194.02 10.2%2008* 77.8% 77.5% 0.5% $308.90 $306.52 0.8% $240.47 $237.47 1.3%

Upper Upscale2006 71.2% 71.9% ‐1.0% $166.80 $157.58 5.8% $118.74 $113.27 4.8%2007 72.9% 71.2% 2.5% $178.69 $166.80 7.1% $130.33 $118.74 9.8%2008* 77.5% 75.7% 2.5% $186.60 $191.02 ‐2.3% $144.68 $144.54 0.1%

Upscale2006 73.9% 75.5% ‐2.1% $121.79 $107.83 12.9% $90.02 $81.43 10.5%2007 74.3% 73.9% 0.5% $130.31 $121.79 7.0% $96.83 $90.02 7.6%2008* 80.0% 77.1% 3.8% $139.55 $138.99 0.4% $111.69 $107.12 4.3%

Midscale with F&B2006 74.3% 73.5% 1.1% $93.28 $84.44 10.5% $69.30 $62.04 11.7%2007 72.2% 74.3% ‐2.8% $101.18 $93.28 8.5% $73.06 $69.30 5.4%2008* 75.5% 75.5% 0.0% $113.53 $105.62 7.5% $85.70 $79.71 7.5%

Midscale w/o F&B2006 75.4% 79.3% ‐4.9% $94.52 $81.37 16.2% $71.22 $64.49 10.4%2007 76.1% 75.4% 1.0% $101.39 $94.52 7.3% $77.18 $71.22 8.4%2008* 77.1% 77.5% ‐0.5% $108.54 $106.91 1.5% $83.65 $82.84 1.0%

Economy / Budget2006 74.4% 79.5% ‐6.5% $75.00 $64.59 16.1% $55.78 $51.37 8.6%2007 75.0% 74.4% 0.8% $80.00 $75.00 6.7% $60.00 $55.78 7.6%2008* 76.0% 77.3% ‐1.7% $87.84 $86.34 1.7% $66.80 $66.77 0.0%








Total Miami ‐ Hialeah Market Weekday Weekend Total2006 65.0% 35.0% 100%2007 68.9% 31.1% 100%2008* 71.6% 28.4% 100%

Miami ‐ Hialeah, FL: Hotel Class


sold (Sun‐Thurs)


sold (Fri‐Sat)

Total Percent


Tampa-St. Petersburg, FL: Hotel Class Market Share Analysis, 2006 - 2008* Source for Data in All Tables: Smith Travel Research Note: 2008* = year to date to July 31, 2008

Tampa-St. Petersburg, FL Hotel Market Share: Percent of Total Rooms Sold


Tampa-St. Petersburg, FL Hotel Performance by Hotel Class, 2006 - 2008*

Tampa-St. Petersburg, FL Weekday vs. Weekend Market Share of



Luxury20062007 67.7% 74.7% ‐9.3% $196.73 $200.21 ‐1.7% $133.23 $149.50 ‐10.9%2008* 73.0% 80.0% ‐8.8% $213.87 $216.50 ‐1.2% $156.07 $173.28 ‐9.9%

Upper Upscale2006 68.1% 69.3% ‐1.7% $144.43 $133.57 8.1% $98.40 $92.54 6.3%2007 69.6% 68.1% 2.1% $149.69 $144.43 3.6% $104.17 $98.40 5.9%2008* 73.8% 74.3% ‐0.8% $160.57 $157.17 2.2% $118.46 $116.85 1.4%

Upscale2006 73.3% 74.4% ‐1.5% $108.67 $102.68 5.8% $79.64 $76.43 4.2%2007 68.0% 73.3% ‐7.1% $113.37 $108.67 4.3% $77.14 $79.64 ‐3.1%2008* 68.1% 71.9% ‐5.4% $119.17 $118.23 0.8% $81.10 $85.06 ‐4.7%

Midscale with F&B2006 58.7% 61.9% ‐5.2% $82.94 $80.84 2.6% $48.67 $50.04 ‐2.7%2007 51.7% 58.7% ‐11.8% $82.00 $82.94 ‐1.1% $42.43 $48.67 ‐12.8%2008* 56.7% 58.3% ‐2.7% $93.15 $85.09 9.5% $52.82 $49.61 6.5%

Midscale w/o F&B2006 67.3% 69.7% ‐3.5% $87.55 $79.07 10.7% $58.91 $55.11 6.9%2007 63.9% 67.3% ‐5.0% $92.38 $87.55 5.5% $59.05 $58.91 0.2%2008* 64.9% 69.9% ‐7.1% $96.96 $95.89 1.1% $62.93 $67.01 ‐6.1%

Economy / Budget2006 61.5% 62.9% ‐2.3% $53.74 $50.51 6.4% $33.03 $31.76 4.0%2007 55.7% 61.5% ‐9.4% $55.09 $53.74 2.5% $30.68 $33.03 ‐7.1%2008* 54.9% 61.6% ‐11.0% $57.09 $57.94 ‐1.5% $31.32 $35.70 ‐12.3%


DATA NOT AVAILABLE

Hotel Class 2006 2007 2008*Luxury NA 3.0% 3.5%Upper Upscale NA 25.3% 26.0%Upscale NA 14.0% 14.3%Midscale with F&B NA 10.7% 10.8%Midscale w/o F&B NA 19.1% 19.1%Economy / Budget NA 27.8% 26.3%TOTAL MARKET SHARE 0.0% 100.0% 100.0%







Total Tampa Market Weekday Weekend Total2006 66.7% 33.3% 100%2007 71.3% 28.7% 100%2008* 72.7% 27.3% 100%

Tampa ‐ St. Petersburg, FL:

Hotel Class


sold (Sun‐Thurs)


sold (Fri‐Sat)

Total Percent

Tampa- St. Petersburg, FL:

Hotel Class








Total Atlanta Market Weekday Weekend Total2006 65.3% 34.7% 100%2007 70.8% 29.2% 100%2008* 72.0% 28.0% 100%

Atlanta, GA: Hotel Class


sold (Sun‐Thurs)


sold (Fri‐Sat)

Total Percent


Luxury2006 70.7% 66.6% 6.0% $200.61 $186.34 7.7% $141.76 $124.18 14.2%2007 69.7% 70.7% ‐1.4% $208.82 $200.61 4.1% $145.54 $141.76 2.7%2008* 64.1% 70.3% ‐8.9% $203.97 $208.83 ‐2.3% $130.75 $146.90 ‐11.0%

Upper Upscale2006 68.4% 67.5% 1.3% $132.56 $121.96 8.7% $90.69 $82.38 10.1%2007 68.1% 68.4% ‐0.5% $137.79 $132.56 3.9% $93.82 $90.69 3.4%2008* 69.3% 70.3% ‐1.5% $137.28 $137.96 ‐0.5% $95.12 $97.01 ‐1.9%

Upscale2006 67.8% 68.7% ‐1.3% $101.84 $92.15 10.5% $69.06 $63.35 9.0%2007 65.6% 67.8% ‐3.2% $107.58 $101.84 5.6% $70.62 $69.06 2.3%2008* 69.4% 67.7% 2.4% $107.62 $107.81 ‐0.2% $74.65 $73.04 2.2%

Midscale with F&B2006 58.6% 59.8% ‐2.0% $72.21 $68.13 6.0% $42.34 $40.77 3.9%2007 56.4% 58.6% ‐3.9% $76.08 $72.21 5.4% $42.88 $42.34 1.3%2008* 53.0% 59.7% ‐11.4% $78.26 $75.79 3.3% $41.44 $45.28 ‐8.5%

Midscale w/o F&B2006 64.2% 65.7% ‐2.3% $75.90 $69.15 9.8% $48.73 $45.45 7.2%2007 62.0% 64.2% ‐3.4% $81.28 $75.90 7.1% $50.40 $48.73 3.4%2008* 62.1% 64.9% ‐4.3% $83.31 $80.95 2.9% $51.73 $52.51 ‐1.5%

Economy / Budget2006 62.2% 63.6% ‐2.1% $39.83 $37.80 5.4% $24.79 $24.04 3.1%2007 60.8% 62.2% ‐2.3% $40.44 $39.83 1.5% $24.60 $24.79 ‐0.8%2008* 58.1% 63.3% ‐8.1% $40.67 $40.50 0.4% $23.64 $25.63 ‐7.8%



Atlanta, GA: Hotel Class Market Share Analysis, 2006 - 2008* Source for Data in All Tables: Smith Travel Research Note: 2008* = year to date to July 31, 2008

Atlanta, GA Hotel Market Share: Percent of Total Rooms Sold


Atlanta, GA Hotel Performance by Hotel Class, 2006 - 2008*

Atlanta, GA Weekday vs. Weekend Market Share of



Luxury2006 70.7% 66.6% 6.0% $200.61 $186.34 7.7% $141.76 $124.18 14.2%2007 69.7% 70.7% ‐1.4% $208.82 $200.61 4.1% $145.54 $141.76 2.7%2008* 64.1% 70.3% ‐8.9% $203.97 $208.83 ‐2.3% $130.75 $146.90 ‐11.0%

Upper Upscale2006 68.4% 67.5% 1.3% $132.56 $121.96 8.7% $90.69 $82.38 10.1%2007 68.1% 68.4% ‐0.5% $137.79 $132.56 3.9% $93.82 $90.69 3.4%2008* 69.3% 70.3% ‐1.5% $137.28 $137.96 ‐0.5% $95.12 $97.01 ‐1.9%

Upscale2006 67.8% 68.7% ‐1.3% $101.84 $92.15 10.5% $69.06 $63.35 9.0%2007 65.6% 67.8% ‐3.2% $107.58 $101.84 5.6% $70.62 $69.06 2.3%2008* 69.4% 67.7% 2.4% $107.62 $107.81 ‐0.2% $74.65 $73.04 2.2%

Midscale with F&B2006 58.6% 59.8% ‐2.0% $72.21 $68.13 6.0% $42.34 $40.77 3.9%2007 56.4% 58.6% ‐3.9% $76.08 $72.21 5.4% $42.88 $42.34 1.3%2008* 53.0% 59.7% ‐11.4% $78.26 $75.79 3.3% $41.44 $45.28 ‐8.5%

Midscale w/o F&B2006 64.2% 65.7% ‐2.3% $75.90 $69.15 9.8% $48.73 $45.45 7.2%2007 62.0% 64.2% ‐3.4% $81.28 $75.90 7.1% $50.40 $48.73 3.4%2008* 62.1% 64.9% ‐4.3% $83.31 $80.95 2.9% $51.73 $52.51 ‐1.5%

Economy / Budget2006 62.2% 63.6% ‐2.1% $39.83 $37.80 5.4% $24.79 $24.04 3.1%2007 60.8% 62.2% ‐2.3% $40.44 $39.83 1.5% $24.60 $24.79 ‐0.8%2008* 58.1% 63.3% ‐8.1% $40.67 $40.50 0.4% $23.64 $25.63 ‐7.8%




Luxury2006 70.7% 66.6% 6.0% $200.61 $186.34 7.7% $141.76 $124.18 14.2%2007 69.7% 70.7% ‐1.4% $208.82 $200.61 4.1% $145.54 $141.76 2.7%2008* 64.1% 70.3% ‐8.9% $203.97 $208.83 ‐2.3% $130.75 $146.90 ‐11.0%

Upper Upscale2006 68.4% 67.5% 1.3% $132.56 $121.96 8.7% $90.69 $82.38 10.1%2007 68.1% 68.4% ‐0.5% $137.79 $132.56 3.9% $93.82 $90.69 3.4%2008* 69.3% 70.3% ‐1.5% $137.28 $137.96 ‐0.5% $95.12 $97.01 ‐1.9%

Upscale2006 67.8% 68.7% ‐1.3% $101.84 $92.15 10.5% $69.06 $63.35 9.0%2007 65.6% 67.8% ‐3.2% $107.58 $101.84 5.6% $70.62 $69.06 2.3%2008* 69.4% 67.7% 2.4% $107.62 $107.81 ‐0.2% $74.65 $73.04 2.2%

Midscale with F&B2006 58.6% 59.8% ‐2.0% $72.21 $68.13 6.0% $42.34 $40.77 3.9%2007 56.4% 58.6% ‐3.9% $76.08 $72.21 5.4% $42.88 $42.34 1.3%2008* 53.0% 59.7% ‐11.4% $78.26 $75.79 3.3% $41.44 $45.28 ‐8.5%

Midscale w/o F&B2006 64.2% 65.7% ‐2.3% $75.90 $69.15 9.8% $48.73 $45.45 7.2%2007 62.0% 64.2% ‐3.4% $81.28 $75.90 7.1% $50.40 $48.73 3.4%2008* 62.1% 64.9% ‐4.3% $83.31 $80.95 2.9% $51.73 $52.51 ‐1.5%

Economy / Budget2006 62.2% 63.6% ‐2.1% $39.83 $37.80 5.4% $24.79 $24.04 3.1%2007 60.8% 62.2% ‐2.3% $40.44 $39.83 1.5% $24.60 $24.79 ‐0.8%2008* 58.1% 63.3% ‐8.1% $40.67 $40.50 0.4% $23.64 $25.63 ‐7.8%





Luxury2006 72.7% 70.1% 3.7% $245.74 $221.27 11.1% $178.74 $155.18 15.2%2007 73.9% 72.7% 1.5% $258.87 $245.74 5.3% $191.19 $178.74 7.0%2008* 69.7% 71.6% ‐2.7% $251.87 $244.97 2.8% $175.44 $175.46 0.0%

Upper Upscale2006 72.9% 70.2% 4.0% $158.38 $143.45 10.4% $115.53 $100.64 14.8%2007 72.1% 72.9% ‐1.2% $163.54 $158.38 3.3% $117.90 $115.53 2.0%2008* 68.4% 71.5% ‐4.3% $164.47 $159.46 3.1% $112.58 $114.05 ‐1.3%

Upscale2006 70.3% 67.6% 4.0% $119.16 $105.32 13.1% $83.82 $71.22 17.7%2007 71.1% 70.3% 1.1% $123.87 $119.16 3.9% $88.12 $83.82 5.1%2008* 68.1% 70.4% ‐3.2% $122.61 $120.46 1.8% $83.52 $84.80 ‐1.5%

Midscale with F&B2006 63.6% 59.0% 7.8% $96.62 $87.32 10.6% $61.43 $51.51 19.3%2007 62.9% 63.6% ‐1.2% $99.42 $96.62 2.9% $62.49 $61.43 1.7%2008* 58.0% 63.1% ‐8.0% $101.92 $97.36 4.7% $59.10 $61.40 ‐3.7%

Midscale w/o F&B2006 67.3% 62.2% 8.1% $84.25 $76.67 9.9% $56.69 $47.72 18.8%2007 65.8% 67.3% ‐2.3% $92.66 $84.25 10.0% $60.94 $56.69 7.5%2008* 62.4% 64.8% ‐3.7% $93.03 $90.77 2.5% $58.01 $58.80 ‐1.3%

Economy / Budget2006 59.4% 57.3% 3.6% $55.97 $49.74 12.5% $33.22 $28.50 16.6%2007 59.9% 59.4% 1.0% $56.46 $55.97 0.9% $33.84 $33.22 1.9%2008* 55.4% 59.6% ‐7.0% $56.96 $55.40 2.8% $31.55 $33.01 ‐4.4%








Total Chicago Market Weekday Weekend Total2006 67.0% 33.0% 100%2007 69.5% 30.5% 100%2008* 72.0% 28.0% 100%

Chicago, IL: Hotel Class


sold (Sun‐Thurs)


sold (Fri‐Sat)

Total Percent

Chicago, IL: Hotel Class Market Share Analysis, 2006 - 2008* Source for Data in All Tables: Smith Travel Research Note: 2008* = year to date to July 31, 2008

Chicago, IL Hotel Market Share: Percent of Total Rooms Sold


Chicago, IL Hotel Performance by Hotel Class, 2006 - 2008*

Chicago, IL Weekday vs. Weekend Market Share of




Oahu Island, HI: Hotel Class Market Share Analysis, 2006 - 2008* Source for Data in All Tables: Smith Travel Research Note: 2008* = year to date to July 31, 2008

Oahu Island, HI Hotel Market Share: Percent of Total Rooms Sold


Oahu Island, HI Hotel Performance by Hotel Class, 2006 - 2008*

Oahu Island, HI Weekday vs. Weekend Market Share of



Luxury200620072008*

Upper Upscale2006 83.1% 85.2% ‐2.4% $201.25 $180.82 11.3% $167.30 $154.00 8.6%2007 80.4% 83.1% ‐3.3% $207.73 $201.25 3.2% $166.96 $167.30 ‐0.2%2008* 81.3% 80.5% 1.0% $213.13 $203.77 4.6% $173.24 $164.03 5.6%

Upscale2006 81.6% 84.7% ‐3.7% $147.86 $128.80 14.8% $120.68 $109.14 10.6%2007 73.1% 81.6% ‐10.5% $165.21 $147.86 11.7% $120.75 $120.68 0.1%2008* 72.5% 71.6% 1.3% $175.66 $167.41 4.9% $127.42 $119.91 6.3%

Midscale with F&B2006 86.0% 86.7% ‐0.7% $94.00 $78.73 19.4% $80.86 $68.22 18.5%2007 71.1% 86.0% ‐17.4% $106.64 $94.00 13.4% $75.78 $80.86 ‐6.3%2008* 76.8% 72.0% 6.6% $113.80 $105.46 7.9% $87.39 $75.96 15.0%

Midscale w/o F&B200620072008*

Economy / Budget200620072008*

Data Not Available

Data Not Available

Data Not Available







Midscale without F&B Weekday Weekend Total200620072008*

Economy / Budget Weekday Weekend Total200620072008*

Total Oahu Island Market Weekday Weekend Total2006 65.5% 34.5% 100%2007 69.2% 30.8% 100%2008* 73.0% 27.0% 100%

Not Available

Oahu Island, HI: Hotel Class


sold (Sun‐Thurs)


sold (Fri‐Sat)

Total Percent

Not Available


New Orleans, LA: Hotel Class Market Share Analysis, 2006 - 2008* Source for Data in All Tables: Smith Travel Research Note: 2008* = year to date to July 31, 2008

New Orleans, LA Hotel Market Share: Percent of Total Rooms Sold


New Orleans, LA Hotel Performance by Hotel Class, 2006 - 2008*

New Orleans, LA Weekday vs. Weekend Market Share of



Luxury2006 55.3% 67.2% ‐17.7% $147.59 $164.82 ‐10.5% $81.61 $110.72 ‐26.3%2007 59.9% 55.3% 8.3% $173.67 $147.59 17.7% $104.00 $81.61 27.4%2008* 72.6% 61.8% 17.6% $183.68 $178.52 2.9% $133.36 $110.26 20.9%

Upper Upscale2006 58.0% 70.7% ‐18.0% $145.86 $151.53 ‐3.7% $84.59 $107.17 ‐21.1%2007 60.1% 58.0% 3.6% $149.74 $145.86 2.7% $89.96 $84.59 6.3%2008* 71.1% 63.0% 12.9% $158.11 $153.35 3.1% $112.47 $96.60 16.4%

Upscale2006 60.0% 70.5% ‐14.9% $137.89 $129.69 6.3% $82.75 $91.48 ‐9.5%2007 54.4% 60.0% ‐9.4% $125.36 $137.89 ‐9.1% $68.17 $82.75 ‐17.6%2008* 66.6% 57.8% 15.2% $122.84 $130.10 ‐5.6% $81.80 $75.18 8.8%

Midscale with F&B2006 67.7% 67.4% 0.5% $99.45 $91.20 9.0% $67.33 $61.43 9.6%2007 58.3% 67.7% ‐13.9% $89.14 $99.45 ‐10.4% $51.97 $67.33 ‐22.8%2008* 65.7% 59.6% 10.1% $95.56 $91.90 4.0% $62.74 $54.81 14.5%

Midscale w/o F&B2006 66.8% 67.0% ‐0.2% $107.86 $88.85 21.4% $72.09 $59.50 21.1%2007 58.5% 66.8% ‐12.5% $99.90 $107.86 ‐7.4% $58.45 $72.09 ‐18.9%2008* 67.7% 61.2% 10.6% $101.34 $103.30 ‐1.9% $68.66 $63.25 8.5%

Economy / Budget2006 69.7% 60.3% 15.5% $73.43 $53.05 38.4% $51.17 $32.00 59.9%2007 58.0% 69.7% ‐16.7% $59.12 $73.43 ‐19.5% $34.32 $51.17 ‐32.9%2008* 63.8% 61.3% 4.0% $60.02 $60.86 ‐1.4% $38.28 $37.33 2.5%









Total New Orleans Market Weekday Weekend Total2006 63.8% 36.2% 100%2007 68.0% 32.0% 100%2008* 69.6% 30.4% 100%

New Orleans, LA: Hotel Class


sold (Sun‐Thurs)


sold (Fri‐Sat)

Total Percent


Boston, MA: Hotel Class Market Share Analysis, 2006 - 2008* Source for Data in All Tables: Smith Travel Research Note: 2008* = year to date to July 31, 2008

Boston, MA Hotel Market Share: Percent of Total Rooms Sold


Boston, MA Hotel Performance by Hotel Class, 2006 - 2008*

Boston, MA Weekday vs. Weekend Market Share of



Luxury2006 71.9% 69.9% 2.9% $312.99 $289.05 8.3% $225.14 $202.12 11.4%2007 72.4% 71.9% 0.6% $323.69 $312.99 3.4% $234.32 $225.14 4.1%2008* 72.9% 68.8% 5.9% $318.52 $306.67 3.9% $232.23 $211.10 10.0%

Upper Upscale2006 72.7% 70.9% 2.6% $172.21 $155.60 10.7% $125.28 $110.38 13.5%2007 73.1% 72.7% 0.5% $183.66 $172.21 6.6% $134.30 $125.28 7.2%2008* 71.8% 71.3% 0.7% $181.82 $175.45 3.6% $130.48 $125.04 4.3%

Upscale2006 67.9% 65.6% 3.5% $118.93 $110.81 7.3% $80.74 $72.65 11.1%2007 69.4% 67.9% 2.2% $126.60 $118.93 6.5% $87.82 $80.74 8.8%2008* 66.8% 67.4% ‐0.9% $128.32 $122.04 5.1% $85.73 $82.28 4.2%

Midscale with F&B2006 60.4% 57.4% 5.2% $112.79 $106.90 5.5% $68.09 $61.35 11.0%2007 60.7% 60.4% 0.6% $118.05 $112.79 4.7% $71.68 $68.09 5.3%2008* 57.7% 57.5% 0.4% $121.24 $113.63 6.7% $69.97 $65.30 7.1%

Midscale w/o F&B2006 63.7% 62.4% 2.0% $95.89 $89.99 6.6% $61.05 $56.16 8.7%2007 64.4% 63.7% 1.2% $102.47 $95.89 6.9% $66.00 $61.05 8.1%2008* 61.3% 62.5% ‐2.0% $103.23 $98.29 5.0% $63.25 $61.47 2.9%

Economy / Budget2006 61.1% 60.2% 1.6% $70.67 $67.86 4.1% $43.19 $40.83 5.8%2007 63.8% 61.1% 4.5% $71.91 $70.67 1.7% $45.91 $43.19 6.3%2008* 60.1% 59.6% 0.8% $71.95 $69.27 3.9% $43.24 $41.28 4.7%









Total Boston Market Weekday Weekend Total2006 69.6% 30.4% 100%2007 73.2% 26.8% 100%2008* 74.1% 25.9% 100%

Boston, MA: Hotel Class


sold (Sun‐Thurs)


sold (Fri‐Sat)

Total Percent


New York, NY: Hotel Class Market Share Analysis, 2006 - 2008* Source for Data in All Tables: Smith Travel Research Note: 2008* = year to date to July 31, 2008

New York, NY Hotel Market Share: Percent of Total Rooms Sold


New York, NY Hotel Performance by Hotel Class, 2006 - 2008*

New York, NY Weekday vs. Weekend Market Share of

Total Rooms Sold by Hotel Class, 2006 - 2008* Hotel Class 2006 2007 2008*Luxury 11.8% 11.7% 11.4%Upper Upscale 36.2% 36.0% 36.4%Upscale 20.2% 20.2% 20.0%Midscale with F&B 8.6% 8.6% 8.4%Midscale w/o F&B 4.8% 5.4% 5.6%Economy / Budget 18.5% 18.1% 18.1%TOTAL MARKET SHARE 100.0% 100.0% 100.0%


Luxury2006 84.5% 81.8% 3.3% $411.07 $372.70 10.3% $347.28 $304.84 13.9%2007 85.6% 84.5% 1.3% $456.00 $411.07 10.9% $390.16 $347.28 12.3%2008* 83.5% 84.8% ‐1.5% $423.50 $410.01 3.3% $353.78 $347.86 1.7%

Upper Upscale2006 85.4% 85.2% 0.2% $268.02 $249.61 7.4% $228.90 $212.73 7.6%2007 86.3% 85.4% 1.1% $294.72 $268.02 10.0% $254.44 $228.90 11.2%2008* 85.2% 84.6% 0.7% $285.06 $266.98 6.8% $242.79 $225.87 7.5%

Upscale2006 85.8% 85.3% 0.6% $204.77 $176.33 16.1% $175.69 $150.43 16.8%2007 88.3% 85.8% 2.9% $224.08 $204.77 9.4% $197.79 $175.69 12.6%2008* 85.4% 87.3% ‐2.1% $219.68 $206.13 6.6% $187.60 $179.88 4.3%

Midscale with F&B2006 81.0% 82.0% ‐1.2% $160.99 $147.19 9.4% $130.46 $120.74 8.0%2007 81.2% 81.0% 0.2% $175.52 $160.99 9.0% $142.48 $130.46 9.2%2008* 75.8% 79.7% ‐4.9% $174.70 $160.75 8.7% $132.42 $128.15 3.3%

Midscale w/o F&B2006 80.4% 81.7% ‐1.5% $154.62 $132.57 16.6% $124.36 $108.30 14.8%2007 81.5% 80.4% 1.4% $178.11 $154.62 15.2% $145.18 $124.36 16.7%2008* 82.1% 79.0% 4.0% $176.80 $161.99 9.1% $145.21 $127.91 13.5%

Economy / Budget2006 80.0% 77.6% 3.1% $126.48 $120.91 4.6% $101.19 $93.79 7.9%2007 79.6% 80.0% ‐0.5% $137.56 $126.48 8.8% $109.45 $101.19 8.2%2008* 78.4% 77.3% 1.4% $130.99 $123.83 5.8% $102.70 $95.76 7.2%








Total New York Market Weekday Weekend Total2006 66.6% 33.4% 100%2007 69.7% 30.3% 100%2008* 73.9% 26.1% 100%

New York, NY: Hotel Class


sold (Sun‐Thurs)


sold (Fri‐Sat)

Total Percent


Philadelphia, PA-NJ: Hotel Class Market Share Analysis, 2006 - 2008* Source for Data in All Tables: Smith Travel Research Note: 2008* = year to date to July 31, 2008

Philadelphia, PA-NJ Hotel Market Share: Percent of Total Rooms Sold


Philadelphia, PA-NJ Hotel Performance by Hotel Class, 2006 - 2008*

Philadelphia, PA-NJ Weekday vs. Weekend Market Share of



Luxury2006 72.7% 69.6% 4.6% $208.68 $194.59 7.2% $151.81 $135.40 12.1%2007 70.8% 72.7% ‐2.6% $226.25 $208.68 8.4% $160.29 $151.81 5.6%2008* 67.8% 71.1% ‐4.7% $226.42 $220.42 2.7% $153.46 $156.72 ‐2.1%

Upper Upscale2006 72.9% 72.4% 0.7% $147.32 $138.37 6.5% $107.41 $100.22 7.2%2007 73.1% 72.9% 0.2% $157.97 $147.32 7.2% $115.43 $107.41 7.5%2008* 69.7% 74.0% ‐5.8% $160.59 $155.09 3.5% $111.94 $114.82 ‐2.5%

Upscale2006 72.5% 73.2% ‐1.0% $119.81 $111.93 7.0% $86.89 $81.97 6.0%2007 72.6% 72.5% 0.1% $128.22 $119.81 7.0% $93.11 $86.89 7.2%2008* 71.1% 73.4% ‐3.2% $131.27 $126.69 3.6% $93.29 $93.02 0.3%

Midscale with F&B2006 63.4% 65.1% ‐2.6% $89.52 $84.01 6.6% $56.78 $54.69 3.8%2007 63.1% 63.4% ‐0.5% $94.42 $89.52 5.5% $59.62 $56.78 5.0%2008* 60.1% 64.2% ‐6.4% $97.55 $92.67 5.3% $58.63 $59.51 ‐1.5%

Midscale w/o F&B2006 72.2% 71.0% 1.6% $98.35 $92.55 6.3% $70.96 $65.75 7.9%2007 71.4% 72.2% ‐1.0% $105.89 $98.35 7.7% $75.63 $70.96 6.6%2008* 70.9% 72.2% ‐1.8% $109.71 $104.86 4.6% $77.81 $75.76 2.7%

Economy / Budget2006 67.0% 69.3% ‐3.4% $63.47 $59.98 5.8% $42.50 $41.56 2.3%2007 66.6% 67.0% ‐0.5% $66.72 $63.47 5.1% $44.43 $42.50 4.5%2008* 63.8% 68.0% ‐6.1% $67.60 $66.00 2.4% $43.15 $44.88 ‐3.8%









Total Philadelphia Market Weekday Weekend Total2006 69.1% 30.9% 100%2007 73.6% 26.4% 100%2008* 72.6% 27.4% 100%

Philadelphia, PA ‐ NJ: Hotel Class


sold (Sun‐Thurs)


sold (Fri‐Sat)

Total Percent


Dallas, TX: Hotel Class Market Share Analysis, 2006 - 2008* Source for Data in All Tables: Smith Travel Research Note: 2008* = year to date to July 31, 2008

Dallas, TX Hotel Market Share: Percent of Total Rooms Sold


Dallas, TX Hotel Performance by Hotel Class, 2006 - 2008*

Dallas, TX Weekday vs. Weekend Market Share of



Luxury2006 66.0% 59.6% 10.7% $174.67 $160.63 8.7% $115.27 $95.75 20.4%2007 64.8% 66.0% ‐1.8% $196.25 $174.67 12.4% $127.14 $115.27 10.3%2008* 62.2% 67.7% ‐8.1% $206.74 $195.89 5.5% $128.66 $132.63 ‐3.0%

Upper Upscale2006 66.1% 64.8% 2.0% $131.45 $117.47 11.9% $86.85 $76.08 14.2%2007 63.6% 66.1% ‐3.8% $139.01 $131.45 5.8% $88.37 $86.85 1.7%2008* 63.0% 65.7% ‐4.0% $138.53 $140.07 ‐1.1% $87.31 $91.98 ‐5.1%

Upscale2006 62.6% 60.9% 2.8% $95.76 $92.69 3.3% $59.94 $56.42 6.2%2007 59.4% 62.6% ‐5.0% $104.25 $95.76 8.9% $61.97 $59.94 3.4%2008* 62.8% 62.3% 0.7% $106.51 $104.47 2.0% $66.84 $65.12 2.6%

Midscale with F&B2006 54.9% 53.9% 1.7% $64.06 $62.58 2.4% $35.15 $33.76 4.1%2007 54.2% 54.9% ‐1.2% $68.00 $64.06 6.2% $36.88 $35.15 4.9%2008* 52.6% 57.9% ‐9.2% $74.77 $67.91 10.1% $39.33 $39.34 0.0%

Midscale w/o F&B2006 63.7% 62.4% 2.1% $72.29 $65.97 9.6% $46.05 $41.17 11.8%2007 63.9% 63.7% 0.3% $78.40 $72.29 8.5% $50.08 $46.05 8.8%2008* 63.0% 65.6% ‐4.0% $81.93 $78.43 4.5% $51.62 $51.45 0.3%

Economy / Budget2006 60.0% 60.5% ‐0.8% $37.76 $36.19 4.3% $22.66 $21.90 3.4%2007 59.2% 60.0% ‐1.3% $39.74 $37.76 5.3% $23.53 $22.66 3.9%2008* 59.8% 61.1% ‐2.0% $40.27 $39.25 2.6% $24.10 $23.98 0.5%









Total Dallas Market Weekday Weekend Total2006 69.5% 30.5% 100%2007 73.1% 26.9% 100%2008* 75.8% 24.2% 100%

Dallas, TX: Hotel Class


sold (Sun‐Thurs)


sold (Fri‐Sat)

Total Percent


Houston, TX: Hotel Class Market Share Analysis, 2006 - 2008* Source for Data in All Tables: Smith Travel Research Note: 2008* = year to date to July 31, 2008

Houston, TX Hotel Market Share: Percent of Total Rooms Sold


Houston, TX Hotel Performance by Hotel Class, 2006 - 2008*

Houston, TX Weekday vs. Weekend Market Share of



Luxury2006 71.3% 65.0% 9.7% $162.08 $151.94 6.7% $115.58 $98.79 17.0%2007 69.0% 71.3% ‐3.3% $191.39 $162.08 18.1% $132.03 $115.58 14.2%2008* 68.3% 70.3% ‐3.0% $213.01 $192.96 10.4% $145.38 $135.74 7.1%

Upper Upscale2006 68.8% 67.8% 1.5% $125.41 $112.83 11.2% $86.22 $76.46 12.8%2007 70.1% 68.8% 2.0% $133.88 $125.41 6.8% $93.90 $86.22 8.9%2008* 71.9% 71.7% 0.3% $144.72 $134.27 7.8% $104.08 $96.24 8.1%

Upscale2006 71.9% 71.4% 0.8% $102.13 $90.13 13.3% $73.46 $64.33 14.2%2007 71.1% 71.9% ‐1.2% $112.55 $102.13 10.2% $80.01 $73.46 8.9%2008* 72.3% 74.3% ‐2.7% $121.59 $112.60 8.0% $87.90 $83.69 5.0%

Midscale with F&B2006 56.7% 59.4% ‐4.5% $71.67 $67.98 5.4% $40.64 $40.36 0.7%2007 57.0% 56.7% 0.5% $75.35 $71.67 5.1% $42.94 $40.64 5.7%2008* 56.9% 58.9% ‐3.4% $87.00 $74.55 16.7% $49.48 $43.90 12.7%

Midscale w/o F&B2006 68.0% 68.8% ‐1.2% $74.85 $69.11 8.3% $50.88 $47.56 7.0%2007 67.1% 68.0% ‐1.3% $83.45 $74.85 11.5% $55.99 $50.88 10.1%2008* 68.5% 69.9% ‐2.0% $89.63 $82.92 8.1% $61.39 $57.95 5.9%

Economy / Budget2006 62.7% 67.0% ‐6.5% $40.62 $39.09 3.9% $25.45 $26.21 ‐2.9%2007 64.5% 62.7% 2.9% $42.38 $40.62 4.3% $27.32 $25.45 7.4%2008* 63.2% 66.9% ‐5.5% $44.83 $41.95 6.9% $28.33 $28.06 1.0%









Total Houston Market Weekday Weekend Total2006 70.4% 29.6% 100%2007 73.5% 26.5% 100%2008* 76.6% 23.4% 100%

Houston, TX: Hotel Class


sold (Sun‐Thurs)


sold (Fri‐Sat)

Total Percent


Seattle, WA: Hotel Class Market Share Analysis, 2006 - 2008* Source for Data in All Tables: Smith Travel Research Note: 2008* = year to date to July 31, 2008

Seattle, WA Hotel Market Share: Percent of Total Rooms Sold


Seattle, WA Hotel Performance by Hotel Class, 2006 - 2008*

Seattle, WA Weekday vs. Weekend Market Share of



Luxury2006 72.5% 72.2% 0.4% $219.15 $197.04 11.2% $158.81 $142.19 11.7%2007 72.2% 72.5% ‐0.3% $218.60 $219.15 ‐0.2% $157.88 $158.81 ‐0.6%2008* 70.4% 72.1% ‐2.2% $217.10 $218.05 ‐0.4% $152.93 $157.12 ‐2.7%

Upper Upscale2006 71.7% 71.5% 0.3% $152.31 $134.79 13.0% $109.24 $96.42 13.3%2007 73.0% 71.7% 1.8% $161.99 $152.31 6.4% $118.22 $109.24 8.2%2008* 73.7% 72.8% 1.2% $164.28 $161.03 2.0% $121.03 $117.19 3.3%

Upscale2006 76.1% 76.4% ‐0.3% $125.23 $108.89 15.0% $95.30 $83.16 14.6%2007 75.4% 76.1% ‐1.0% $136.63 $125.23 9.1% $102.97 $95.30 8.1%2008* 74.6% 75.4% ‐1.1% $138.94 $136.01 2.2% $103.61 $102.51 1.1%

Midscale with F&B2006 67.6% 62.2% 8.7% $90.06 $83.19 8.3% $60.91 $51.74 17.7%2007 68.5% 67.6% 1.3% $98.38 $90.06 9.2% $67.43 $60.91 10.7%2008* 66.9% 68.3% ‐2.1% $101.60 $96.90 4.9% $67.98 $66.19 2.7%

Midscale w/o F&B2006 73.5% 70.7% 4.0% $96.91 $87.89 10.3% $71.24 $62.10 14.7%2007 73.2% 73.5% ‐0.4% $106.59 $96.91 10.0% $78.00 $71.24 9.5%2008* 69.6% 73.4% ‐5.1% $111.15 $104.64 6.2% $77.40 $76.77 0.8%

Economy / Budget2006 64.9% 61.6% 5.3% $59.31 $52.89 12.1% $38.49 $32.61 18.1%2007 67.6% 64.9% 4.2% $63.97 $59.31 7.9% $43.27 $38.49 12.4%2008* 62.6% 68.1% ‐8.1% $66.61 $62.57 6.5% $41.68 $42.62 ‐2.2%









Total Seattle Market Weekday Weekend Total2006 68.8% 31.2% 100%2007 71.5% 28.5% 100%2008* 73.3% 26.7% 100%

Seattle, WA: Hotel Class


sold (Sun‐Thurs)


sold (Fri‐Sat)

Total Percent


Phoenix, AZ: Hotel Class Market Share Analysis, 2006 - 2008* Source for Data in All Tables: Smith Travel Research Note: 2008* = year to date to July 31, 2008

Phoenix, AZ Hotel Performance by Hotel Class, 2006 - 2008*

Phoenix, AZ Weekday vs. Weekend Market Share of



Luxury2006 73.1% 71.4% 2.4% $249.31 $241.13 3.4% $182.32 $172.22 5.9%2007 70.5% 73.1% ‐3.6% $263.24 $249.31 5.6% $185.51 $182.32 1.7%2008* 71.0% 75.6% ‐6.1% $293.70 $282.39 4.0% $208.50 $213.46 ‐2.3%

Upper Upscale2006 72.4% 72.5% ‐0.2% $157.97 $145.76 8.4% $114.32 $105.74 8.1%2007 70.7% 72.4% ‐2.3% $166.07 $157.97 5.1% $117.46 $114.32 2.7%2008* 70.8% 75.1% ‐5.8% $182.34 $176.60 3.3% $129.08 $132.69 ‐2.7%

Upscale2006 68.4% 70.4% ‐3.0% $110.70 $98.51 12.4% $75.67 $69.38 9.1%2007 67.1% 68.4% ‐1.8% $118.95 $110.70 7.5% $79.81 $75.67 5.5%2008* 62.3% 70.4% ‐11.5% $131.90 $125.18 5.4% $82.12 $88.10 ‐6.8%

Midscale with F&B2006 59.5% 57.1% 4.2% $77.93 $71.20 9.5% $46.37 $40.65 14.1%2007 61.6% 59.5% 3.5% $84.45 $77.93 8.4% $51.99 $46.37 12.1%2008* 58.6% 66.2% ‐11.5% $93.21 $89.29 4.4% $54.60 $59.08 ‐7.6%

Midscale w/o F&B2006 69.5% 67.4% 3.2% $89.02 $77.76 14.5% $61.90 $52.41 18.1%2007 68.1% 69.5% ‐2.1% $97.26 $89.02 9.3% $66.19 $61.90 6.9%2008* 62.7% 71.8% ‐12.7% $109.10 $102.32 6.6% $68.38 $73.50 ‐7.0%

Economy / Budget2006 67.9% 64.3% 5.6% $51.24 $46.34 10.6% $34.80 $29.80 16.8%2007 65.4% 67.9% ‐3.7% $54.08 $51.24 5.5% $35.37 $34.80 1.6%2008* 61.2% 68.7% ‐10.9% $58.12 $56.88 2.2% $35.55 $39.06 ‐9.0%








Total Phoenix Market Weekday Weekend Total2006 67.7% 32.3% 100%2007 71.4% 28.6% 100%2008* 74.1% 25.9% 100%

Phoenix, AZ: Hotel Class


sold (Sun‐Thurs)


sold (Fri‐Sat)

Total Percent


Denver, CO: Hotel Class Market Share Analysis, 2006 - 2008* Source for Data in All Tables: Smith Travel Research Note: 2008* = year to date to July 31, 2008

Denver, CO Hotel Performance by Hotel Class, 2006 - 2008*

Denver, CO Weekday vs. Weekend Market Share of



Luxury200620072008*

Upper Upscale2006 69.5% 67.8% 2.5% $123.79 $111.46 11.1% $86.05 $75.57 13.9%2007 69.7% 69.5% 0.3% $136.76 $123.79 10.5% $95.30 $86.05 10.8%2008* 69.3% 70.3% ‐1.5% $138.77 $135.80 2.2% $96.15 $95.52 0.7%

Upscale2006 63.8% 62.8% 1.7% $100.21 $90.44 10.8% $63.96 $56.76 12.7%2007 64.2% 63.8% 0.5% $111.43 $100.21 11.2% $71.51 $63.96 11.8%2008* 66.4% 64.4% 3.1% $113.19 $110.09 2.8% $75.11 $70.86 6.0%

Midscale with F&B2006 61.3% 57.9% 5.8% $73.20 $68.14 7.4% $44.84 $39.46 13.6%2007 62.5% 61.3% 2.1% $77.13 $73.20 5.4% $48.23 $44.84 7.6%2008* 59.6% 64.0% ‐6.9% $76.84 $78.07 ‐1.6% $45.76 $49.95 ‐8.4%

Midscale w/o F&B2006 66.6% 64.0% 4.1% $76.72 $68.16 12.6% $51.09 $43.59 17.2%2007 66.9% 66.6% 0.5% $85.66 $76.72 11.6% $57.33 $51.09 12.2%2008* 66.7% 68.1% ‐2.1% $87.95 $85.08 3.4% $58.69 $57.98 1.2%

Economy / Budget2006 58.5% 57.5% 1.8% $43.38 $39.48 9.9% $25.39 $22.70 11.9%2007 62.6% 58.5% 6.9% $45.27 $43.38 4.3% $28.32 $25.39 11.5%2008* 60.0% 64.0% ‐6.2% $46.94 $44.47 5.6% $28.18 $28.46 ‐1.0%

Data Not Available

Hotel ClassOccupancy Rate Avg. Daily Rate (ADR) Rev. Per Avail. Room (RevPAR) Luxury Weekday Weekend Total

2006 64.8% 35.2% 100%2007 69.5% 30.5% 100%2008* 73.9% 26.1% 100%






Total Denver Market Weekday Weekend Total2006 69.4% 30.6% 100%2007 72.3% 27.7% 100%2008* 74.8% 25.2% 100%

Denver, CO: Hotel Class


sold (Sun‐Thurs)


sold (Fri‐Sat)

Total Percent


Detroit, MI: Hotel Class Market Share Analysis, 2006 - 2008* Source for Data in All Tables: Smith Travel Research Note: 2008* = year to date to July 31, 2008

Detroit, MI Weekday vs. Weekend Market Share of


Detroit, MI Hotel Performance by Hotel Class, 2006 - 2008*


Luxury200620072008*

Upper Upscale2006 61.2% 63.0% ‐2.9% $126.39 $115.61 9.3% $77.41 $72.89 6.2%2007 61.2% 61.2% 0.0% $127.85 $126.39 1.1% $78.26 $77.41 1.1%2008* 60.8% 63.5% ‐4.3% $129.62 $130.17 ‐0.4% $78.76 $82.65 ‐4.7%

Upscale2006 65.3% 66.4% ‐1.5% $100.55 $92.78 8.4% $65.70 $61.57 6.7%2007 63.5% 65.3% ‐2.8% $102.96 $100.55 2.4% $65.39 $65.70 ‐0.5%2008* 62.8% 64.8% ‐3.1% $104.29 $102.80 1.5% $65.46 $66.61 ‐1.7%

Midscale with F&B2006 50.0% 48.6% 2.9% $75.66 $73.46 3.0% $37.84 $35.70 6.0%2007 52.4% 50.0% 4.7% $73.21 $75.66 ‐3.2% $38.35 $37.84 1.3%2008* 50.8% 52.6% ‐3.5% $73.27 $73.66 ‐0.5% $37.21 $38.77 ‐4.0%

Midscale w/o F&B2006 59.7% 59.2% 0.9% $77.96 $72.80 7.1% $46.54 $43.08 8.0%2007 60.6% 59.7% 1.5% $79.47 $77.96 1.9% $48.14 $46.54 3.4%2008* 60.2% 60.4% ‐0.2% $82.92 $78.97 5.0% $49.94 $47.68 4.7%

Economy / Budget2006 51.1% 54.3% ‐5.9% $47.74 $45.29 5.4% $24.40 $24.60 ‐0.8%2007 54.7% 51.1% 7.0% $45.44 $47.74 ‐4.8% $24.86 $24.40 1.9%2008* 53.0% 54.6% ‐3.0% $45.82 $45.22 1.3% $24.27 $24.68 ‐1.7%

Data Not Available

Hotel ClassOccupancy Rate Avg. Daily Rate (ADR) Rev. Per Avail. Room (RevPAR) Luxury Weekday Weekend Total

2006 66.8% 33.2% 100%2007 68.5% 31.5% 100%2008* 72.3% 27.7% 100%






Total Detroit Market Weekday Weekend Total2006 69.7% 30.3% 100%2007 72.2% 27.8% 100%2008* 73.5% 26.5% 100%

Detroit, MI: Hotel Class


sold (Sun‐Thurs)


sold (Fri‐Sat)

Total Percent


Minneapolis-St. Paul, MN-WI: Hotel Class Market Share Analysis, 2006 - 2008* Source for Data in All Tables: Smith Travel Research Note: 2008* = year to date to July 31, 2008

Minneapolis-St. Paul, MN-WI Weekday vs. Weekend Market Share of


Minneapolis-St. Paul, MN-WI Hotel Performance by Hotel Class, 2006 - 2008*


Luxury200620072008*

Upper Upscale2006 69.7% 70.1% ‐0.5% $125.57 $119.85 4.8% $87.54 $83.97 4.3%2007 71.3% 69.7% 2.2% $133.27 $125.57 6.1% $94.99 $87.54 8.5%2008* 68.7% 71.6% ‐4.0% $134.67 $131.12 2.7% $92.48 $93.83 ‐1.4%

Upscale2006 69.4% 70.4% ‐1.5% $106.40 $99.69 6.7% $73.85 $70.22 5.2%2007 69.6% 69.4% 0.3% $110.64 $106.40 4.0% $77.05 $73.85 4.3%2008* 67.3% 70.3% ‐4.3% $112.66 $109.93 2.5% $75.78 $77.29 ‐1.9%

Midscale with F&B2006 62.8% 62.9% ‐0.2% $79.73 $73.99 7.8% $50.06 $46.57 7.5%2007 62.8% 62.8% 0.0% $85.84 $79.73 7.7% $53.88 $50.06 7.6%2008* 60.9% 62.6% ‐2.7% $88.80 $84.96 4.5% $54.07 $53.17 1.7%

Midscale w/o F&B2006 65.6% 67.6% ‐3.0% $83.20 $77.26 7.7% $54.61 $52.25 4.5%2007 64.0% 65.6% ‐2.4% $86.75 $83.20 4.3% $55.55 $54.61 1.7%2008* 61.6% 64.2% ‐4.0% $88.39 $86.12 2.6% $54.45 $55.27 ‐1.5%

Economy / Budget2006 61.7% 62.2% ‐0.8% $51.43 $48.55 5.9% $31.74 $30.19 5.1%2007 62.1% 61.7% 0.6% $52.83 $51.43 2.7% $32.81 $31.74 3.4%2008* 58.5% 61.4% ‐4.7% $54.00 $51.96 3.9% $31.58 $31.90 ‐1.0%

Data Not Available








Total Minneapolis Market Weekday Weekend Total2006 68.6% 31.4% 100%2007 71.9% 28.1% 100%2008* 74.1% 25.9% 100%

Minneapolis ‐ St. Paul, MN ‐ WI: Hotel Class


sold (Sun‐Thurs)


sold (Fri‐Sat)

Total Percent


Nashville, TN: Hotel Class Market Share Analysis, 2006 - 2008* Source for Data in All Tables: Smith Travel Research Note: 2008* = year to date to July 31, 2008

Nashville, TN Weekday vs. Weekend Market Share of


Nashville, TN Hotel Performance by Hotel Class, 2006 - 2008*


Luxury200620072008*

Upper Upscale2006 75.2% 70.6% 6.6% $131.69 $122.84 7.2% $99.09 $86.68 14.3%2007 74.4% 75.2% ‐1.2% $141.22 $131.69 7.2% $105.01 $99.09 6.0%2008* 72.6% 75.2% ‐3.4% $147.85 $139.27 6.2% $107.29 $104.67 2.5%

Upscale2006 70.1% 70.6% ‐0.7% $95.24 $85.23 11.7% $66.76 $60.18 10.9%2007 70.1% 70.1% 0.0% $105.13 $95.24 10.4% $73.69 $66.76 10.4%2008* 71.9% 70.7% 1.7% $111.75 $103.81 7.7% $80.35 $73.39 9.5%

Midscale with F&B2006 60.5% 57.1% 6.0% $71.19 $67.98 4.7% $43.08 $38.81 11.0%2007 59.3% 60.5% ‐2.1% $77.33 $71.19 8.6% $45.83 $43.08 6.4%2008* 55.0% 60.3% ‐8.8% $78.69 $76.92 2.3% $43.25 $46.36 ‐6.7%

Midscale w/o F&B2006 69.5% 65.1% 6.9% $75.59 $69.80 8.3% $52.57 $45.43 15.7%2007 67.3% 69.5% ‐3.2% $83.64 $75.59 10.7% $56.31 $52.57 7.1%2008* 65.7% 68.4% ‐4.0% $88.93 $82.81 7.4% $58.41 $56.66 3.1%

Economy / Budget2006 58.7% 54.3% 8.0% $41.88 $39.72 5.4% $24.57 $21.57 13.9%2007 58.1% 58.7% ‐1.0% $42.94 $41.88 2.5% $24.95 $24.57 1.6%2008* 54.1% 60.3% ‐10.2% $44.22 $42.93 3.0% $23.93 $25.87 ‐7.5%


Data Not Available







Total Nashville Market Weekday Weekend Total2006 63.8% 36.2% 100%2007 68.9% 31.1% 100%2008* 71.6% 28.4% 100%

Nashville, TN: Hotel Class


sold (Sun‐Thurs)


sold (Fri‐Sat)

Total Percent


Norfolk-Virginia Beach, VA: Hotel Class Market Share Analysis, 2006 - 2008* Source for Data in All Tables: Smith Travel Research Note: 2008* = year to date to July 31, 2008

Norfolk-Virginia Beach, VA Weekday vs. Weekend Market Share of


Norfolk-Virginia Beach, VA Hotel Performance by Hotel Class, 2006 - 2008*


Luxury200620072008*

Upper Upscale2006 66.1% 67.2% ‐1.6% $112.37 $107.12 4.9% $74.29 $72.01 3.2%2007 68.2% 66.1% 3.2% $115.73 $112.37 3.0% $78.94 $74.29 6.3%2008* 68.3% 71.1% ‐3.9% $117.97 $116.62 1.2% $80.56 $82.91 ‐2.8%

Upscale2006 67.7% 65.7% 3.1% $101.88 $98.56 3.4% $69.00 $64.72 6.6%2007 69.0% 67.7% 1.9% $106.82 $101.88 4.8% $73.68 $69.00 6.8%2008* 66.0% 72.0% ‐8.4% $107.46 $107.72 ‐0.2% $70.91 $77.61 ‐8.6%

Midscale with F&B2006 52.7% 52.0% 1.2% $90.71 $87.56 3.6% $47.79 $45.57 4.9%2007 53.6% 52.7% 1.8% $91.70 $90.71 1.1% $49.16 $47.79 2.9%2008* 50.7% 55.8% ‐9.0% $94.63 $92.23 2.6% $47.99 $51.42 ‐6.7%

Midscale w/o F&B2006 64.4% 64.2% 0.2% $85.11 $82.16 3.6% $54.77 $52.76 3.8%2007 65.7% 64.4% 2.1% $90.23 $85.11 6.0% $59.29 $54.77 8.2%2008* 62.8% 67.7% ‐7.3% $92.04 $90.85 1.3% $57.76 $61.51 ‐6.1%

Economy / Budget2006 57.5% 58.3% ‐1.5% $52.81 $51.91 1.7% $30.35 $30.28 0.2%2007 56.6% 57.5% ‐1.5% $55.49 $52.81 5.1% $31.40 $30.35 3.5%2008* 52.0% 59.6% ‐12.7% $54.28 $56.12 ‐3.3% $28.23 $33.45 ‐15.6%


Data Not Available

Luxury Weekday Weekend Total2006 NA NA 0%2007 57.9% 42.1% 100%2008* 71.4% 28.6% 100%






Total Norfolk Market Weekday Weekend Total2006 64.7% 35.3% 100%2007 68.7% 31.3% 100%2008* 69.3% 30.7% 100%

Norfolk ‐ Virginia Beach, VA:

Hotel Class


sold (Sun‐Thurs)


sold (Fri‐Sat)

Total Percent

Norfolk- Virginia Beach, VA:

Hotel Class


St. Louis, MO-IL: Hotel Class Market Share Analysis, 2006 - 2008* Source for Data in All Tables: Smith Travel Research Note: 2008* = year to date to July 31, 2008

St. Louis, MO-IL Weekday vs. Weekend Market Share of


St. Louis, MO-IL Hotel Performance by Hotel Class, 2006 - 2008*


Luxury200620072008*

Upper Upscale2006 67.3% 65.9% 2.1% $106.58 $104.62 1.9% $71.78 $68.98 4.1%2007 68.3% 67.3% 1.4% $110.81 $106.58 4.0% $75.69 $71.78 5.4%2008* 66.8% 69.7% ‐4.1% $112.53 $111.14 1.3% $75.16 $77.42 ‐2.9%

Upscale2006 60.9% 60.1% 1.3% $95.98 $93.60 2.5% $58.45 $56.30 3.8%2007 59.7% 60.9% ‐1.9% $100.05 $95.98 4.2% $59.76 $58.45 2.3%2008* 61.9% 61.2% 1.2% $101.51 $99.64 1.9% $62.85 $60.98 3.1%

Midscale with F&B2006 55.2% 56.1% ‐1.5% $72.26 $72.86 ‐0.8% $39.90 $40.84 ‐2.3%2007 55.3% 55.2% 0.1% $73.98 $72.26 2.4% $40.88 $39.90 2.5%2008* 53.2% 58.2% ‐8.7% $74.45 $74.25 0.3% $39.58 $43.24 ‐8.5%

Midscale w/o F&B2006 61.4% 61.4% 0.0% $76.22 $73.11 4.2% $46.81 $44.89 4.3%2007 62.4% 61.4% 1.5% $81.52 $76.22 7.0% $50.83 $46.81 8.6%2008* 63.1% 63.6% ‐0.8% $83.73 $82.58 1.4% $52.85 $52.54 0.6%

Economy / Budget2006 55.5% 55.6% ‐0.3% $45.58 $44.95 1.4% $25.28 $25.00 1.1%2007 54.3% 55.5% ‐2.1% $46.11 $45.58 1.2% $25.05 $25.28 ‐0.9%2008* 52.8% 57.2% ‐7.7% $46.16 $45.88 0.6% $24.39 $26.25 ‐7.1%


Data Not Available







Total St. Louis Market Weekday Weekend Total2006 66.8% 33.2% 100%2007 71.7% 28.3% 100%2008* 71.2% 28.8% 100%

St. Louis, MO ‐ IL: Hotel Class


sold (Sun‐Thurs)


sold (Fri‐Sat)

Total Percent

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