lodging industry overview
DESCRIPTION
LODGING INDUSTRY OVERVIEW. Randy Smith CEO. The World. Global Regions – Asia Pacific/Americas Market Performance (US Dollars) August 2009 Year-to-Date. Global Regions – Europe/Mid East/Africa Market Performance (US Dollars) August 2009 Year-to-Date. - PowerPoint PPT PresentationTRANSCRIPT
LODGING INDUSTRY OVERVIEW
Randy Smith
CEO
The World
Global Regions – Asia Pacific/AmericasMarket Performance (US Dollars)August 2009 Year-to-Date
Occ (%) ADR RevPARPercent Change from YTD
20082009 2008 2009 2008 2009 2008 Occ ADR RevPAR
Asia Pacific 58.5 66.5 116.08 142.73 67.90 94.88 -12.0 -18.7 -28.4Central & South Asia 55.1 64.9 155.10 224.62 85.43 145.79 -15.1 -30.9 -41.4Northeastern Asia 55.0 62.7 112.71 135.06 62.04 84.66 -12.2 -16.6 -26.7Southeastern Asia 59.2 70.0 107.12 124.53 63.43 87.14 -15.4 -14.0 -27.2Australia & Oceania 69.4 73.2 120.96 155.11 83.89 113.47 -5.2 -22.0 -26.1
Americas 56.9 63.4 99.64 110.25 56.64 69.85 -10.3 -9.6 -18.9North America 56.7 63.2 98.73 109.08 56.01 68.97 -10.3 -9.5 -18.8Caribbean 65.6 69.9 158.11 189.60 103.76 132.53 -6.1 -16.6 -21.7Central America 57.8 71.5 121.39 126.35 70.19 90.30 -19.1 -3.9 -22.3South America 58.1 65.4 107.00 120.93 62.17 79.05 -11.1 -11.5 -21.4
Global Regions – Europe/Mid East/AfricaMarket Performance (US Dollars)August 2009 Year-to-Date
Occ (%) ADR RevPARPercent Change from YTD
20082009 2008 2009 2008 2009 2008 Occ ADR RevPAR
Europe 60.5 65.9 128.09 164.55 77.47 108.42 -8.2 -22.2 -28.5Eastern Europe 51.0 60.3 110.81 164.97 56.52 99.54 -15.5 -32.8 -43.2Northern Europe 65.2 68.9 120.19 160.69 78.38 110.76 -5.4 -25.2 -29.2Southern Europe 56.3 63.8 134.30 164.28 75.60 104.77 -11.7 -18.2 -27.8Western Europe 60.4 65.2 138.31 169.81 83.48 110.72 -7.4 -18.5 -24.6
Middle East/Africa 61.8 71.0 149.49 154.83 92.39 109.86 -12.9 -3.4 -15.9Middle East 61.9 69.9 197.20 214.84 122.10 150.26 -11.5 -8.2 -18.7Northern Africa 64.6 75.6 85.12 87.61 54.99 66.22 -14.5 -2.8 -17.0Southern Africa 59.0 67.7 119.08 125.65 70.28 85.01 -12.8 -5.2 -17.3
-12
-10
-8
-6
-4
-2
0
2
4
Jan-08 Jul-08 Jan-09 Jul-09
US
Eurozone
BRIC
World – US / Eurozone / BRIC Demand Percent Change – 12 Month Moving AverageJuly 2009 YTD
US / EU in Lockstep; BRIC Falls Hard
-6.0
-8.0
-10.3
-15
-10
-5
0
5
10
15
20
Jan-08 Jul-08 Jan-09 Jul-09
US
Eurozone
BRIC
World – US / Eurozone / BRIC ADR Percent Change (US/BRIC:$ / EU:€)12 Month Moving AverageJuly 2009 YTD
Beijing Olympics Helped
Proj. Inflation Rate 2009:US: 0.7%, Eurozone: 0.5% India: 6.0% China: -0.5%, Brazil: 5%, Russia: 12%
-5.1
--5.5
-12.5
-35
-25
-15
-5
5
15
25
Jan-08 Jul-08 Jan-09 Jul-09
US
EurozoneBRIC
World – US / EU / BRIC ADR Percent Change (US/BRIC:$ / EU:€)July 2009 YTD
Olympics 8/08: +56%
Global Deterioration: 10/08
Stabilization?
Are We Done Yet?
-9.1
-13.0
-24.3
Europe
-10
-8
-6
-4
-2
0
2
4
Jan-08 Jul-08 Jan-09 Jul-09
Eurozone
Non-Eurozone
Eurozone vs. Non EurozoneDemand Percent Change – 12 Month Moving AverageJuly 2009 YTD
Eurozone Demand Fell Earlier / More Sharply
-5.8
-8.0
-20
-15
-10
-5
0
5
10
Jan-08 Jul-08 Jan-09 Jul-09
Eurozone
Non-Eurozone
Eurozone vs. Non EurozoneADR Percent Change – 12 Month Moving AverageJuly 2009 YTD
ADR Deterioration More Pronounced In Non-Eurozone
Proj. Inflation Rate 2009:Eurozone: 0.5% Non-Eurozone: 2.3%
-13.0
-18.6
Europe – Germany / UK / France
Country Rooms
(‘000s)
Supply Growth (YTD 7/09)
Germany 357 +1.0%
UK 417 +2.3%
France 379 +0.5%
-8
-6
-4
-2
0
2
4
6
Jan-08 Jul-08 Jan-09 Jul-09
GermanyUKFrance
Europe – Germany / UK / France*Demand Percent Change – 12 Month Moving AverageJuly 2009 YTD
*France excl. Accor
Same Inflection Point – Same Direction
-3.0
--3.8
-6.5
-6
-4
-2
0
2
4
6
8
10
12
14
Jan-08 Jul-08 Jan-09 Jul-09
GermanyUKFrance
Europe – Germany / UK / France*ADR Percent Change (D/F: €, UK: £) – 12 Month Moving AverageJuly 2009 YTD
*France excl. Accor
Rates Declined only in 2009Proj. Inflation Rate 2009:D: 0.3% UK: 1.9% F: 0.3%
-2.7-3.8
-4.6
EuropeMarket Performance (Local Currency)August 2009 Year-to-Date
Occ (%) ADR RevPARPercent Change from YTD
20082009 2008 2009 2008 2009 2008 Occ ADR RevPAR
Amsterdam 68.8 76.6 118.00 137.90 81.17 105.60 -10.2 -14.4 -23.1Athens 55.7 66.1 122.48 139.97 68.26 92.54 -15.7 -12.5 -26.2Barcelona 63.2 69.8 114.11 136.17 72.08 95.07 -9.5 -16.2 -24.2Berlin 66.1 67.6 76.90 83.81 50.79 56.63 -2.2 -8.3 -10.3Budapest 51.5 63.6 19695.69 19394.40 10133.65 12331.07 -19.1 1.6 -17.8Copenhagen 61.7 68.1 796.23 881.63 491.47 600.62 -9.4 -9.7 -18.2Dublin 63.3 69.3 88.38 106.61 55.98 73.84 -8.6 -17.1 -24.2Frankfurt 56.2 59.6 104.50 110.20 58.78 65.65 -5.6 -5.2 -10.5Geneva 59.2 70.6 348.37 380.35 206.22 268.37 -16.1 -8.4 -23.2Hamburg 70.2 71.7 89.80 94.26 63.04 67.62 -2.1 -4.7 -6.8Helsinki 59.3 66.0 99.96 107.41 59.25 70.89 -10.2 -6.9 -16.4Lisbon 57.3 63.6 80.65 89.04 46.23 56.63 -9.9 -9.4 -18.4London 79.2 80.1 112.41 121.42 88.98 97.27 -1.2 -7.4 -8.5Madrid 54.5 64.7 91.51 112.41 49.89 72.70 -15.7 -18.6 -31.4Munich 63.2 67.7 87.19 100.33 55.09 67.95 -6.7 -13.1 -18.9Moscow 56.1 64.7 6476.26 8071.38 3631.49 5224.92 -13.4 -19.8 -30.5Oslo 61.8 67.6 938.03 978.21 579.41 661.34 -8.6 -4.1 -12.4Paris 73.2 78.1 167.30 182.68 122.53 142.75 -6.3 -8.4 -14.2Prague 55.4 64.4 2058.00 2346.54 1140.58 1510.13 -13.9 -12.3 -24.5Rome 61.8 64.9 136.91 150.24 84.58 97.46 -4.8 -8.9 -13.2Stockholm 66.1 69.2 1027.34 1088.05 679.12 752.63 -4.4 -5.6 -9.8Tel Aviv 62.1 79.3 892.51 781.04 554.49 619.49 -21.7 14.3 -10.5Venice 56.6 60.0 253.21 289.81 143.30 173.80 -5.6 -12.6 -17.5Vienna 62.3 69.1 90.81 105.98 56.57 73.26 -9.9 -14.3 -22.8Zurich 66.5 73.2 214.73 258.97 142.69 189.48 -9.2 -17.1 -24.7
Note – No,I Do Not Expect You To Read This! (particularly Don)
EuropeMarket Performance (US Dollars)August 2009 Year-to-Date
Occ (%) ADR RevPARPercent Change from YTD
20082009 2008 2009 2008 2009 2008 Occ ADR RevPAR
Amsterdam 68.8 76.6 161.19 212.63 110.87 162.82 -10.2 -24.2 -31.9Athens 55.7 66.1 167.39 216.07 93.29 142.86 -15.7 -22.5 -34.7Barcelona 63.2 69.8 155.75 209.91 98.39 146.55 -9.5 -25.8 -32.9Berlin 66.1 67.6 104.79 129.19 69.21 87.29 -2.2 -18.9 -20.7Budapest 51.5 63.6 94.91 121.63 48.83 77.33 -19.1 -22.0 -36.9Copenhagen 61.7 68.1 146.12 181.90 90.19 123.92 -9.4 -19.7 -27.2Dublin 63.3 69.3 120.52 164.19 76.33 113.72 -8.6 -26.6 -32.9Frankfurt 56.2 59.6 141.06 169.47 79.34 100.96 -5.6 -16.8 -21.4Geneva 59.2 70.6 314.02 364.73 185.89 257.35 -16.1 -13.9 -27.8Hamburg 70.2 71.7 122.33 145.25 85.87 104.21 -2.1 -15.8 -17.6Helsinki 59.3 66.0 136.18 165.11 80.71 108.97 -10.2 -17.5 -25.9Lisbon 57.3 63.6 109.99 137.39 63.04 87.37 -9.9 -19.9 -27.8London 79.2 80.1 173.91 238.53 137.67 191.08 -1.2 -27.1 -28.0Madrid 54.5 64.7 123.79 173.50 67.49 112.21 -15.7 -28.7 -39.9Munich 63.2 67.7 118.55 154.29 74.90 104.49 -6.7 -23.2 -28.3Moscow 56.1 64.7 196.43 339.29 110.15 219.64 -13.4 -42.1 -49.9Oslo 61.8 67.6 143.93 187.98 88.90 127.08 -8.6 -23.4 -30.0Paris 73.2 78.1 228.23 281.30 167.16 219.81 -6.3 -18.9 -24.0Prague 55.4 64.4 105.37 145.53 58.40 93.66 -13.9 -27.6 -37.7Rome 61.8 64.9 187.25 232.23 115.68 150.65 -4.8 -19.4 -23.2Stockholm 66.1 69.2 130.55 177.82 86.30 123.00 -4.4 -26.6 -29.8Tel Aviv 62.1 79.3 223.02 224.73 138.56 178.25 -21.7 -0.8 -22.3Venice 56.6 60.0 349.85 447.31 197.99 268.25 -5.6 -21.8 -26.2Vienna 62.3 69.1 124.05 163.73 77.28 113.18 -9.9 -24.2 -31.7Zurich 66.5 73.2 193.10 247.99 128.32 181.44 -9.2 -22.1 -29.3
Europe - Pipeline
CountryIn Construction
Rooms% Of Exist.
SupplyTotal Active
Pipeline Rooms% Of Exist.
Supply
Czech Republic 715 2.1% 1,551 4.5%
Denmark 1,302 4.1% 1,302 4.1%
Germany 6,633 1.9% 18,747 5.2%
Hungary 851 2.0% 1,495 3.6%
Latvia 412 5.1% 412 5.1%
Poland 710 2.6% 1,852 6.8%
Romania 186 1.6% 1,332 11.2%
Russia 5,692 8.2% 11,736 17.0%
Slovakia 710 9.5% 960 12.8%
United Kingdom 8,908 2.1% 18,202 4.4%
Middle East
-2
0
2
4
6
8
10
12
14
16
Jan-08 Jul-08 Jan-09 Jul-09
Saudi Arabia
UAE
Qatar
Saudi Arabia vs UAE vs QatarDemand Percent Change – 12 Month Moving AverageJuly 2009 YTD
Qatar Used To Hold Up Better
2.3
1.0
-0.9
-10
-5
0
5
10
15
20
25
Jan-08 Jul-08 Jan-09 Jul-09
Saudi ArabiaUAEQatar
Saudi Arabia (SAR) vs UAE (AED) vs Qatar (QAR)ADR Percent Change – 12 Month Moving AverageJuly 2009 YTD
Strong ADR Growth - But is UAE The Future?Proj. Inflation Rate 2009:Saudi Arabia: 5.1%
12.0
10.6
-7.8
Middle East Pipeline
CountryIn Construction
Rooms% Of Exist.
SupplyTotal Active
Pipeline Rooms% Of Exist.
Supply
Bahrain 4,169 75% 5,299 95%
Jordan 3,942 37% 5,393 51%
Kuwait 2,616 45% 2,866 49%
Oman 924 17% 2,643 50%
Qatar 4,177 65% 5,225 81%
Saudi Arabia 6,693 18% 11,539 32%
Syria 393 5% 1,158 16%
United Arab Emirates 33,717 50% 58,003 86%
Middle East / AfricaMarket Performance (Local Currency)August 2009 Year-to-Date
Occ (%) ADR RevPARPercent Change from YTD
20082009 2008 2009 2008 2009 2008 Occ ADR RevPAR
Abu Dhabi 75.3 82.4 1059.81 961.38 798.11 792.03 -8.6 10.2 0.8Amman 60.8 69.2 105.88 92.43 64.38 63.92 -12.1 14.5 0.7Beirut 70.4 50.1 316874.57 252428.99 223150.88 126452.42 40.6 25.5 76.5Cairo 64.2 76.6 703.54 720.10 451.99 551.26 -16.1 -2.3 -18.0Cape Town 57.7 65.0 1001.77 938.75 578.23 610.05 -11.2 6.7 -5.2Dubai 68.3 80.0 842.53 1104.29 575.64 883.59 -14.6 -23.7 -34.9Istanbul 63.6 73.4 292.62 291.77 186.23 214.09 -13.3 0.3 -13.0Jeddah 70.3 69.7 667.05 574.09 468.86 400.13 0.8 16.2 17.2Johannesburg/Pretoria 61.2 74.2 864.23 793.02 529.26 588.51 -17.5 9.0 -10.1Muscat 52.3 69.5 102.33 90.20 53.56 62.73 -24.7 13.4 -14.6Riyadh 60.5 77.7 946.64 891.50 572.38 692.34 -22.1 6.2 -17.3
Middle East / AfricaMarket Performance (US Dollars)August 2009 Year-to-Date
Occ (%) ADR RevPARPercent Change from YTD
20082009 2008 2009 2008 2009 2008 Occ ADR RevPAR
Abu Dhabi 75.3 82.4 288.44 261.70 217.22 215.60 -8.6 10.2 0.8Amman 60.8 69.2 148.58 129.67 90.35 89.67 -12.1 14.6 0.8Beirut 70.4 50.1 207.91 165.34 146.42 82.82 40.6 25.8 76.8Cairo 64.2 76.6 124.75 132.04 80.14 101.08 -16.1 -5.5 -20.7Cape Town 57.7 65.0 112.64 121.95 65.02 79.25 -11.2 -7.6 -18.0Dubai 68.3 80.0 229.31 300.60 156.67 240.52 -14.6 -23.7 -34.9Istanbul 63.6 73.4 185.53 237.52 118.07 174.29 -13.3 -21.9 -32.3Jeddah 70.3 69.7 177.66 152.87 124.88 106.55 0.8 16.2 17.2Johannesburg/Pretoria 61.2 74.2 100.40 103.19 61.49 76.58 -17.5 -2.7 -19.7Muscat 52.3 69.5 264.67 233.63 138.55 162.48 -24.7 13.3 -14.7Riyadh 60.5 77.7 252.14 237.41 152.46 184.37 -22.1 6.2 -17.3
Americas/Asia Pacific Markets
AmericasMarket Performance (Local Currency)August 2009 Year-to-Date
Occ (%) ADR RevPARPercent Change from YTD
20082009 2008 2009 2008 2009 2008 Occ ADR RevPAR
Alberta 60.6 69.1 138.02 143.95 83.67 99.44 -12.2 -4.1 -15.9Boston 61.3 67.7 136.10 151.65 83.42 102.66 -9.5 -10.3 -18.7Buenos Aires 50.4 68.2 513.99 490.48 259.18 334.65 -26.1 4.8 -22.6Chicago 56.3 65.0 111.02 130.09 62.52 84.52 -13.3 -14.7 -26.0Los Angeles 65.2 74.6 115.69 130.27 75.43 97.24 -12.7 -11.2 -22.4Manitoba/Saskatchewan 67.9 69.5 112.12 107.01 76.11 74.41 -2.4 4.8 2.3Mexico City 48.5 62.3 1482.69 1387.95 718.53 865.28 -22.3 6.8 -17.0Miami 66.6 74.9 145.82 167.88 97.14 125.82 -11.1 -13.1 -22.8Montreal 58.3 62.9 125.98 135.17 73.39 85.05 -7.4 -6.8 -13.7New York 75.0 83.0 194.23 259.44 145.66 215.39 -9.7 -25.1 -32.4Ottawa 67.3 71.1 133.90 134.96 90.13 95.93 -5.3 -0.8 -6.0Rio de Janeiro 64.6 61.8 314.40 282.95 203.10 174.95 4.5 11.1 16.1San Francisco 70.8 76.9 130.15 154.42 92.15 118.69 -7.9 -15.7 -22.4San Juan 74.7 76.5 175.38 200.35 130.98 153.23 -2.3 -12.5 -14.5Santiago 58.4 74.5 78909.21 66878.50 46045.59 49819.15 -21.7 18.0 -7.6Sao Paulo 58.6 65.6 176.57 165.07 103.54 108.29 -10.6 7.0 -4.4Toronto 62.0 68.4 128.56 142.66 79.65 97.60 -9.4 -9.9 -18.4Vancouver 66.1 73.6 137.38 146.28 90.77 107.71 -10.3 -6.1 -15.7Washington 67.3 69.8 146.24 151.67 98.44 105.93 -3.6 -3.6 -7.1
AmericasMarket Performance (US Dollars)August 2009 Year-to-Date
Occ (%) ADR RevPARPercent Change from YTD
20082009 2008 2009 2008 2009 2008 Occ ADR RevPAR
Alberta 60.6 69.1 118.93 141.72 72.09 97.90 -12.2 -16.1 -26.4Boston 61.3 67.7 136.10 151.65 83.42 102.66 -9.5 -10.3 -18.7Buenos Aires 50.4 68.2 138.88 157.66 70.03 107.57 -26.1 -11.9 -34.9Chicago 56.3 65.0 111.02 130.09 62.52 84.52 -13.3 -14.7 -26.0Los Angeles 65.2 74.6 115.69 130.27 75.43 97.24 -12.7 -11.2 -22.4Manitoba/Saskatchewan 67.9 69.5 96.35 105.52 65.40 73.38 -2.4 -8.7 -10.9Mexico City 48.5 62.3 106.71 132.60 51.71 82.67 -22.3 -19.5 -37.4Miami 66.6 74.9 145.82 167.88 97.14 125.82 -11.1 -13.1 -22.8Montreal 58.3 62.9 108.84 133.08 63.41 83.74 -7.4 -18.2 -24.3New York 75.0 83.0 194.23 259.44 145.66 215.39 -9.7 -25.1 -32.4Ottawa 67.3 71.1 114.99 133.25 77.40 94.72 -5.3 -13.7 -18.3Rio de Janeiro 64.6 61.8 147.75 169.71 95.45 104.93 4.5 -12.9 -9.0San Francisco 70.8 76.9 130.15 154.42 92.15 118.69 -7.9 -15.7 -22.4San Juan 74.7 76.5 175.38 200.35 130.98 153.23 -2.3 -12.5 -14.5Santiago 58.4 74.5 134.66 140.54 78.58 104.69 -21.7 -4.2 -24.9Sao Paulo 58.6 65.6 84.76 99.57 49.70 65.32 -10.6 -14.9 -23.9Toronto 62.0 68.4 110.51 140.76 68.47 96.30 -9.4 -21.5 -28.9Vancouver 66.1 73.6 119.02 143.98 78.64 106.02 -10.3 -17.3 -25.8Washington 67.3 69.8 146.24 151.67 98.44 105.93 -3.6 -3.6 -7.1
Asia / PacificMarket Performance (Local Currency)August 2009 Year-to-Date
Occ (%) ADR RevPARPercent Change from YTD
20082009 2008 2009 2008 2009 2008 Occ ADR RevPAR
Bali 70.4 78.1 1266293.51 1025182.50 891626.75 800532.04 -9.8 23.5 11.4Bangkok 50.8 71.3 3228.61 3580.27 1641.55 2552.61 -28.7 -9.8 -35.7Beijing 48.2 59.2 629.72 1171.75 303.40 693.40 -18.6 -46.3 -56.2Brisbane 75.8 79.8 167.89 178.28 127.28 142.25 -5.0 -5.8 -10.5Hong Kong SAR 70.0 80.9 1212.53 1451.57 848.64 1173.98 -13.5 -16.5 -27.7Jakarta 62.1 70.4 744433.31 665428.78 462008.96 468691.49 -11.9 11.9 -1.4Kuala Lumpur 63.1 71.2 341.20 347.12 215.34 247.11 -11.3 -1.7 -12.9Manila 66.1 73.6 5159.66 5210.55 3411.33 3835.84 -10.2 -1.0 -11.1Melbourne 74.1 78.5 176.74 181.09 130.91 142.08 -5.6 -2.4 -7.9Mumbai 57.2 66.9 9043.38 12247.42 5173.25 8192.57 -14.5 -26.2 -36.9New Delhi 60.0 73.2 8671.44 11776.96 5204.88 8619.79 -18.0 -26.4 -39.6Osaka 70.8 78.7 11348.30 12028.66 8036.21 9464.19 -10.0 -5.7 -15.1Phuket 53.7 68.4 3884.08 4531.68 2084.37 3097.61 -21.5 -14.3 -32.7Seoul 78.6 75.1 172147.92 169147.86 135234.08 126950.27 4.7 1.8 6.5Shanghai 47.1 54.7 725.10 956.26 341.30 523.34 -14.0 -24.2 -34.8Sydney 75.9 79.7 169.36 186.29 128.54 148.47 -4.8 -9.1 -13.4Tokyo 68.2 75.3 20868.62 20744.94 14223.47 15614.72 -9.4 0.6 -8.9
Asia / PacificMarket Performance (US Dollars)August 2009 Year-to-Date
Occ (%) ADR RevPARPercent Change from YTD
20082009 2008 2009 2008 2009 2008 Occ ADR RevPAR
Bali 70.4 78.1 118.66 111.39 83.55 86.98 -9.8 6.5 -3.9Bangkok 50.8 71.3 92.06 110.24 46.81 78.59 -28.7 -16.5 -40.4Beijing 48.2 59.2 92.03 168.96 44.34 99.98 -18.6 -45.5 -55.7Brisbane 75.8 79.8 126.22 165.13 95.69 131.76 -5.0 -23.6 -27.4Hong Kong SAR 70.0 80.9 156.41 186.18 109.47 150.57 -13.5 -16.0 -27.3Jakarta 62.1 70.4 68.98 72.28 42.81 50.91 -11.9 -4.6 -15.9Kuala Lumpur 63.1 71.2 95.05 106.85 59.99 76.06 -11.3 -11.0 -21.1Manila 66.1 73.6 106.78 121.49 70.60 89.44 -10.2 -12.1 -21.1Melbourne 74.1 78.5 130.95 167.43 96.99 131.36 -5.6 -21.8 -26.2Mumbai 57.2 66.9 181.60 297.25 103.88 198.83 -14.5 -38.9 -47.8New Delhi 60.0 73.2 173.79 286.97 104.31 210.04 -18.0 -39.4 -50.3Osaka 70.8 78.7 119.38 114.27 84.54 89.91 -10.0 4.5 -6.0Phuket 53.7 68.4 110.35 141.12 59.22 96.46 -21.5 -21.8 -38.6Seoul 78.6 75.1 129.16 167.66 101.46 125.83 4.7 -23.0 -19.4Shanghai 47.1 54.7 105.97 137.06 49.88 75.01 -14.0 -22.7 -33.5Sydney 75.9 79.7 125.14 172.40 94.98 137.40 -4.8 -27.4 -30.9Tokyo 68.2 75.3 219.42 197.27 149.55 148.48 -9.4 11.2 0.7
Census and Sample Data2009
Hotels2009
RoomsCensus Sample Census Sample
Asia Pacific 13,037 2,187 1,859,253 540,093Central & South Asia 1,397 279 124,184 39,417Northeastern Asia 4,556 918 1,048,354 285,027Southeastern Asia 2,634 395 408,152 113,583Australia & Oceania 4,450 595 278,563 102,066
Americas 66,258 30,307 5,998,838 3,703,298North America 60,744 29,660 5,438,981 3,570,713Caribbean 2,307 176 240,352 52,308Central America 581 64 39,881 12,320South America 2,626 407 279,624 67,957
Europe 37,768 6,220 3,079,300 930,843Eastern Europe 3,127 361 304,952 74,809Northern Europe 10,238 2,742 728,648 352,627Southern Europe 10,474 1,416 1,048,797 234,737Western Europe 13,929 1,701 996,903 268,670
Middle East/Africa 3,930 949 608,008 195,185Middle East 1,460 439 237,406 101,285Northern Africa 1,155 132 245,792 43,850Southern Africa 1,315 378 124,810 50,050
United States
-8
-6
-4
-2
0
2
4
6
1989 1991 1993 1995 1997 1999 2001 2003 2005 2007 2009
Supply % Change
Demand % Change
Total US - Room Supply & Demand Percent ChangeTwelve Month Moving Average – 1989 to August 2009
2008 Smith Travel Research, Inc.
3.1%
- 6.6%
-1.1%
- 4.8%
-20
-15
-10
-5
0
5
10
15
2001 2002 2003 2004 2005 2006 2007 2008 2009
Supply % Change
Demand % Change
Total United StatesRoom Supply/Demand Percent ChangeMonthly Year-Over-Year 2001 – August 2009
3.2
-6.9
-1.0
-0.5
0.0
0.5
1.0
1.5
2.0
2.5
3.0
3.5
2003 2004 2005 2006 2007 2008 JFMAMJJA
Total United StatesRoom Supply Percent ChangeJan 2003 – August 2009
3.2
-10
-5
0
5
10
2003 2004 2005 2006 2007 2008 JFMAMJJA
Total United StatesRoom Demand Percent ChangeJan 2003 – August 2009
-6.9
70
75
80
85
90
2001 2003 2005 2007 2009
Total United StatesMonthly Room Demand (In Millions) – Seasonally AdjustedJanuary 2001 – to Aug 2009
2009 Smith Travel Research, Inc.
78.6
-12-10-8-6-4-202468
10
1989 1991 1993 1995 1997 1999 2001 2003 2005 2007 2009
Occ % Chg
ADR % Chg
Total US – Occupancy & ADR Percent ChangeTwelve Month Moving Average – 1989 to August 2009
-3.4%
-6.8%
-9.4%
-6.3%-4.7%
0.1%
-20
-15
-10
-5
0
5
10
15
2001 2002 2003 2004 2005 2006 2007 2008 2009
ADR % Chg
Occupancy % Chg
Total United StatesOccupancy / ADR Percent ChangeMonthly Year-Over-Year 2001 – August 2009
Occ -9.9
-ADR -10.1
-15
-10
-5
0
5
10
2003 2004 2005 2006 2007 2008 JFMAMJJA
Total United StatesOccupancy Percent ChangeJan 2003 – August 2009
-9.9
70
80
90
100
110
2001 2003 2005 2007 2009
Seas Adj
Total United StatesMonthly ADR – Seasonally Adjusted January 2001 – to Aug 2009
2009 Smith Travel Research, Inc.
$95.86
$106.69
-15
-10
-5
0
5
10
2003 2004 2005 2006 2007 2008 JFMAMJJA
Total United StatesRoom Rate Percent ChangeJan 2003 – August 2009
-10.1
-20
-15
-10
-5
0
5
10
1989 1991 1993 1995 1997 1999 2001 2003 2005 2007 2009
RevPAR % Chg
-2.7%
Total US - RevPAR Percent ChangeTwelve Month Moving Average – 1989 to August 2009
2008 Smith Travel Research, Inc.
-10.5%-15.1%
-25
-20
-15
-10
-5
0
5
10
15
20
2003 2004 2005 2006 2007 2008 JFMAMJJA
Total United StatesRevPAR Percent ChangeJan 2003 – August 2009
-19.0
-10.3
2.5
-1.8
-4.2
-1.8
2.6 3.2
-9.0-7.4
-18.3-20
-15
-10
-5
0
5
10
Supply Demand Occ ADR RevPAR
2008 Annual YTD 2009
Total US - Key Performance Indicators Percent ChangeFull Year 2008 / August YTD
-14.4
-9.1
-20.8
-12.8
-6.5
-8.5
-25
-15
-5
Occ ADR RevPAR
Weekday Weekend
Total United StatesWeekday / Weekend Percent ChangeSeptember 12th 2009 YTD
Weekends = Friday / Saturday 2009 Smith Travel Research, Inc.
-16
-14
-12
-10
-8
-6
-4
-2
0
Occupancy
ADR
Total United States28 Day Moving Average - Occupancy & ADR % ChangeJan 1, 2009 – Sept 26, 2009
2009 Smith Travel Research, Inc.
1/3/09 9/26/09
Group vs. Transient
Performance
-5.0
-23.1
-16.1
-4.6
-25
-20
-15
-10
-5
0
Occupancy ADR
WeekdayWeekend
Group - Occupancy / ADR PerformanceWeekday / WeekendAugust 2009 YTD
2009 Smith Travel Research, Inc.
-16.0
-6.3
1.6
-16.0
-20
-12
-4
4
Occupancy ADR
WeekdayWeekend
Transient - Occupancy / ADR PerformanceWeekday / WeekendAugust 2009 YTD
2009 Smith Travel Research, Inc.
-30
-20
-10
0
10
20
1/31/08
Group Demand
Transient Demand
9/12//09
Total United States28 Day Moving Average Group & Transient Demand % ChangeJan 31, 2008 – September 12th, 2009
-20
-10
0
10
1/31/08
Group ADR
Transient ADR
9/12/09
Total United States28 Day Moving Average Group & Transient ADR % ChangeJan 31, 2008 – September 12th, 2009
125
150
175
200
1/31/08
Group ADR
Transient ADR
9/12/09
Total United States28 Day Moving Average Group & Transient Absolute ADRJan 31, 2008 – September 12th, 2009
Chain ScalePerformance
8.9
4.9
9.1
-1.5
7.2
1.3
-4.9 -5.2
-2.1
-12.8
-4.7
-8.6
-20
-15
-10
-5
0
5
10
15
Luxury UpperUpscale
Upscale Mid w F&B Mid wo F&B Economy
SupplyDemand
Chain ScalesSupply/Demand Percent ChangeAugust 2009 YTD
-11.4
-5.9
-11.1-9.7
-11.5-10.2 -9.8
-12.6
-5.7
-16.8
-9.9
-5.0
-20
-15
-10
-5
0
Luxury UpperUpscale
Upscale Mid w F&B Mid wo F&B Economy
OccupancyADR
Chain ScalesOccupancy/ADR Percent ChangeAugust 2009 YTD
-16.6
-20.9
-16.0-17.8
-9.4
-14.0
-20.0
-15.5
-19.1
-27.3
-15.1
-11.8
-30
-25
-20
-15
-10
-5
0
Luxury UpperUpscale
Upscale Mid w F&B Mid wo F&B Economy
RevPARRoom Revenue
Chain ScalesRevPAR/Room Revenue Percent ChangeAugust 2009 YTD
Key Market
Performance
0.5
0.5
1.6
1.7
1.7
2.2
3.2
3.3
3.8
3.9
3.9
4.6
7.0
2.7
-0.3
-3 -1 1 3 5 7 9
Oahu Island, HI
San Francisco/San Mateo, CA
Orlando, FL
Philadelphia, PA-NJ
Atlanta, GA
Boston, MA
Los Angeles-Long Beach, CA
Dallas, TX
Total United States
Minneapolis-St Paul, MN-WI
Chicago, IL
Washington, DC-MD-VA
San Diego, CA
New York, NY
Phoenix, AZ
Key MarketsRoom Supply Percent ChangeAugust 2009 YTD
-10.3
-10.0
-9.4
-9.4
-8.5
-8.0
-7.9
-7.5
-7.4
-6.4
-6.1
-5.5
0.2
-10.7
-11.4
-15 -10 -5 0 5
Atlanta, GA
Los Angeles-Long Beach, CA
Dallas, TX
Chicago, IL
Orlando, FL
Minneapolis-St Paul, MN-WI
Phoenix, AZ
San Diego, CA
Boston, MA
San Francisco/San Mateo, CA
Total United States
Oahu Island, HI
Philadelphia, PA-NJ
New York, NY
Washington, DC-MD-VA
Key MarketsRoom Demand Percent ChangeAugust 2009 YTD
-12.9
-12.7
-12.7
-12.3
-11.5
-10.3
-9.9
-9.7
-9.5
-7.9
-7.6
-6.1
-3.6
-13.3
-14.4
-20 -15 -10 -5 0 5
Phoenix, AZ
Chicago, IL
Atlanta, GA
Dallas, TX
Los Angeles-Long Beach, CA
Minneapolis-St Paul, MN-WI
San Diego, CA
Total United States
Orlando, FL
New York, NY
Boston, MA
San Francisco/San Mateo, CA
Philadelphia, PA-NJ
Oahu Island, HI
Washington, DC-MD-VA
Key MarketsOccupancy Percent ChangeAugust 2009 YTD
-15.7
-15.2
-14.7
-13.1
-11.9
-11.2
-10.3
-9.0
-9.0
-7.8
-7.8
-3.6
-13.0
-9.8
-25.1
-30 -20 -10 0
New York, NY
San Francisco/San Mateo, CA
Phoenix, AZ
Chicago, IL
San Diego, CA
Oahu Island, HI
Orlando, FL
Los Angeles-Long Beach, CA
Boston, MA
Philadelphia, PA-NJ
Minneapolis-St Paul, MN-WI
Total United States
Dallas, TX
Atlanta, GA
Washington, DC-MD-VA
Key MarketsADR Percent ChangeAugust 2009 YTD
-27.4
-26.0
-23.1
-22.4
-22.4
-20.6
-20.2
-19.7
-19.5
-18.7
-18.4
-18.3
-16.6
-7.1
-32.4
-40 -30 -20 -10 0
New York, NY
Phoenix, AZ
Chicago, IL
San Diego, CA
Los Angeles-Long Beach, CA
San Francisco/San Mateo, CA
Orlando, FL
Minneapolis-St Paul, MN-WI
Atlanta, GA
Dallas, TX
Boston, MA
Oahu Island, HI
Total United States
Philadelphia, PA-NJ
Washington, DC-MD-VA
Key 15 MarketsRevPAR Percent ChangeAugust 2009 YTD
U.S. Lodging Industry Projections
2.9
-1.5
2.7
3.4
(2.00)
(1.00)
0.00
1.00
2.00
3.00
4.00
2008 2009 2010 2011
Global GDP Forecast
The Future Looks Bright(er)Source: E-Forecasting
Total United StatesActive Development Pipeline - RoomsChange From Last Year
Source: STR / TWR / Dodge Construction Pipeline
PhaseAugust 2009
August 2008 Difference % Change
In Construction 130,471 195,947 -65,476 -33.4%
Final Planning 70,811 110,553 -39,742 -35.9%
Planning 274,239 353,290 -79,051 -22.4%
Active Pipeline 475,521 659,790 -184,269 -27.9%
Pre-Planning 114,986 144,517 -29,531 -20.4%
Total 590,507 804,307 -213,800 -26.6%
Total United StatesRooms In Construction by Scale – In Thousands August 2009
5.712.8
34.7
43
95
20.3
0
10
20
30
40
50
60
Luxury Upper Upscale Upscale Mid w F&B Mid w/o F&B Economy Unaffiliated
Source: STR / TWR / Dodge Construction Pipeline
Top 10 Brands in the Active PipelineAugust 2009Brand Rooms -------------------------------------------------------------------------------------------Hampton Inn* 33,028Holiday Inn Express 32,460 Holiday Inn 20,782 Courtyard 16,830Hilton Garden Inn 15,816Candlewood Suites 14,889Residence Inn 13,218 Fairfield Inn 13,160SpringHill Suites 13,143 Staybridge Suites 11,185
* Includes Inns and Inns & Suites
Source: STR / TWR / Dodge Construction Pipeline
Markets with Most Rooms In-ConstructionAugust 2009
Market # Rooms % Existing Supply
New York 11,921 13.2
Las Vegas 7,011 4.4
Houston 4,681 6.9
Washington, DC 4,064 4.0
Orlando 3,563 3.1
Phoenix 3,288 5.6
Atlanta 3,204 3.4
Source: STR / TWR / Dodge Construction Pipeline
0.21.3 1.31.9
3.01.8
1.3
2.6
-1.8
-5.5
0.51.0
-8
-4
0
4
8
2006 2007 2008 2009P 2010P 20 Yr Average
Supply % Chg
Demand % Chg
Total United StatesSupply/Demand Percent Change2003 – 2010P
-10
-5
0
5
10
2003 2004 2005 2006 2007 2008 JASOND
Total United StatesRoom Demand Percent ChangeJan 2003 – June 2009 / July – December Forecast
2009 Smith Travel Research, Inc.
-8.4
0.4
-0.6-0.2
-4.2
-10
-5
0
5
2006 2007 2008 2009P 2010P
Total United StatesOccupancy Percent Change2003 – 2010P
20 Year Average: -0.6%
Total United StatesOccupancy Percent2003 – 2010P
63.3 63.1
60.4
55.4 55.1
50
60
70
2006 2007 2008 2009P 2010P
2.5
-9.7
7.5
-3.4
6.1
-12
-10
-8
-6
-4
-2
0
2
4
6
8
10
2006 2007 2008 2009P 2010P
Total United StatesADR Percent Change2003 – 2010P
20 Year Average: 3.5%
86.41 91.16 104.08 106.72 96.43 93.1684.0785.30 98.0082.9682.82
$87.73$89.11
$91.15
$93.57
$96.74
$99.86
$105.90$107.81$106.65
$85.30
$102.71
80
90
100
110
Nominal ADRYr 2000, Grown by CPI
If year 2000 ADR had increased by CPI each year…
Total US Room RatesActual vs. Inflation Adjusted2000 – 2010E
7.8
-4.0
-17.1
5.7
-1.8
8.57.9
0.5
-20
-15
-10
-5
0
5
10
2003 2004 2005 2006 2007 2008 2009P 2010P
Total United StatesRevPAR Percent Change2003 – 2010P
20 Year Average: 2.9%
-0.6
-9.7
-5.5
-8.4
-17.1
3.01.8
-3.4
1.3
-4.0
-20
-15
-10
-5
0
5
10
Supply Demand Occ ADR RevPAR
2009 F 2010 F
Total United StatesKey Performance Indicators Percent ChangeFull Year 2009 2010 Forecast
STR Chain Scale Forecast
2009 2010Segment RevPar Chg RevPar Chg
Luxury -25.0 / -28.0 -7.0 / -10.0
Upper Upscale -18.0 / -21.0 -1.0 / -4.0
Upscale -16.0 / -19.0 -5.0 / -8.0
Midscale with F&B -12.5 / -15.5 -3.0 / -6.0
Midscale without F&B -10.5 / -13.5 +1.0 / -2.0
Economy -13.0 / -16.0 Flat / -3.0
Forecast produced August 2009
Total US Industry Consecutive Quarterly DeclinesKey Indicators
2008 Smith Travel Research, Inc.
1990/1991
2001/2002
Current(Q2-09)
Estimate 2008/10
Demand 3 5 6 9
Occupancy 7 6 7 11
ADR 0 5 3 9
RevPAR 5 5 4 9
Room Revenue 2 5 4 7
Takeaways
• Decline is global
• Supply growth still an issue
• Demand declines may be near bottom
• ADR weakness continues
• “Less Worse” 2H 2009
• Moderate improvement 2010
• Meaningful growth anticipated 2011
For a copy of this presentation, please go to:
www.HotelNewsNow.com
Click on “Industry Presentations”
3
-4.5
-7.3
2
0.2
-1.8
1.7
2.6
0.91.3
3
1.7
-0.8
-3.4
2.72.4
-3.3
-1.0
-10
-5
0
5
Supply Demand Occupancy
Total United StatesSupply, Demand & Occupancy ForecastQ3 2009 – Q4 2010
2008 Smith Travel Research, Inc.
-11
-17.5
-15
-4.4
-6.1
-4.2
-2.2-1.3
0.4
-1.5
0.2
1.5
-13.0
-10.6-9.9
-5.6-6.5
-8.7
-20
-15
-10
-5
0
5
ADR RevPar Revenue
Total United StatesADR, RevPar and Room Revenue ForecastQ3 2009 – Q4 2010
2008 Smith Travel Research, Inc.
U.S. Economic OutlookBlue Chip Economic Indicators – July 2009
2008 2009F 2010F
Real GDP +1.1% -2.6% +2.0%
CPI +4.0% -0.6% +1.8%
Corporate Profits -8.5% -12.4% +6.7%
Disp Personal Income +1.1% +2.3% +1.6%
Unemployment Rate 5.8% 9.3% 9.9%
-35
-25
-15
-5
5
15
25
35
1/31/08
Group Revenue
Transient Revenue
8/15/09
Total United States28 Day Moving Average Group & Transient Revenue % ChangeJan 31, 2008 – September 12th, 2009
Europe – Scandinavia / Baltics
Country Rooms
(‘000s)
Supply Growth (YTD 7/09)
Scandinavia 104 +1.6%
Baltics 10 +5.9%
-8
-6
-4
-2
0
2
4
6
Jan-08 Jul-08 Jan-09 Jul-09
Scandinavia
Baltics
Europe – Scandinavia / BalticsDemand Percent Change – 12 Month Moving AverageJune 2009 YTD
Sharp Demand Decline In The Baltics
-15
-10
-5
0
5
10
Jan-08 Jul-08 Jan-09 Jul-09
Scandinavia
Baltics
Europe – Scandinavia / BalticsADR Percent Change (€) – 12 Month Moving AverageJune 2009 YTD
Baltics: No ADR Growth in 18 months