NORTH AMERICAN HOSPITALITY Issue Number: 106 ... - …...provided to TravelClick by third parties and the report is provided “as is.” TravelClick makes no representation expressed

1

EXECUTIVE SUMMARY Q4 2017 APPENDIXQ2 2017 Q3 2017 Q1 2018

Copyright © 2017, TravelClick, Inc. Proprietary & Confidential

NORTH AMERICAN HOSPITALITY REVIEWQ2 2017 – Q1 2018

Issue Number:

106

Issue Date:

Apr 10, 2017


This report and its contents are proprietary information and may not be disclosed or discussed with any third party, except as permitted by the Publisher, TravelClick, Inc. Neither the contents of the report, actions taken based upon the report nor implications of the report may be shared with anyone outside of the Subscriber’s organization. The contents of the report are based upon data provided to TravelClick by third parties and the report is provided “as is.” TravelClick makes no representation expressed or implied regarding the accuracy or completeness of the contents of the report and the recipient of the report expressly assumes all risk, whether known to the Subscriber, in relying upon the contents of the report.

2



Preface …………………………………………………………………………………………. 3

Executive Summary ……...…………………………………….………………………... 4

Q2 2017 ………………………………………………………………………………………. 11

Q3 2017 ………………………………………………………………………………….…… 25

Q4 2017 ………………………………………………………………………………………. 32

Q1 2018 ………………………………………………………………………………………. 38

Appendix …………….……………………………………………………………….………. 44

Table of Contents

3



This report is based on reservation and committed group sales (block) data provided by

hotel companies participating in TravelClick’s Demand360® Business Intelligence

product

The scope of the reporting:

– 25 major North American markets

o 270 million annual room nights

o $46 billion in annual room revenue

– Q2 2017 – Q1 2018

– As of April 1, 2017

The participating companies/brands and the scope of the data in terms of room

capacity by market can be found in the appendix

Preface

4



Total Occupancy OutlookCommitted occupancy for the second quarter of 2017 through the first quarter of 2018 (current quarter and the upcoming three quarters) is up 0.2% compared to a year ago. New commitments added over the last month (pace) are down at -0.1%. Thirteen of the top 25 North American markets are showing committed occupancy increases compared to a month ago.

Group Sales OutlookThe group segment is down -0.9% in committed room nights over the same time last year. New group business added over the last month (pace) is down at -0.3% over the comparable period last year. The group outlook is strongest in the fourth quarter of 2017 with a 4.4% growth over the same time last year. At the early outlook, the first quarter of 2018 is showing a 1.0% growth.

Transient OutlookTransient room nights booked are up 2.5% over the same time last year. New reservations booked over the last month (pace) are up 0.4% over the comparable period last year. Business demand, which includes weekday transient negotiated and transient retail segments, is down -2.1%, and leisure demand, which includes transient discount, transient qualified segments and transient wholesale, is up 5.6%.

Average Daily Rate OutlookAverage Daily Rate (ADR) is up 1.6% based on reservations currently on the books for 2017. ADR is growing in 21 of the top 25 North American markets. Group ADR is up 1.1% and transient segment ADR is up 1.8% compared to the previous year. Transient business and leisure ADR are both up 2.8% and 1.3%, respectively.

Executive Summary

EXECUTIVE SUMMARY

5



Legend:TY Room NightLY Room NightsAs of This MonthAs of Last Month

12 Month Outlook by Month

As Of:April 1, 2017

Scope:Committed Occupancy (Group Block + Transient Reserved)

-5,000,000

0

5,000,000

10,000,000

15,000,000

20,000,000

04/17 05/17 06/17 07/17 08/17 09/17 10/17 11/17 12/17 01/18 02/18 03/18

Ro

om

Nig

hts

Current on the Books and Last Year Variance – Future 12 Months

-10%

0%

10%

20%

30%

40%

Variance %

vs Last Year

April2017

EXECUTIVE SUMMARY

6



-30% -15% 0% 15% 30%

Atlanta

Boston

Charlotte

Chicago

Dallas

Denver

Detroit

Honolulu

Houston

Indianapolis

Los Angeles

Miami

Minneapolis St Paul

New York

Orlando

Philadelphia

Phoenix

San Antonio

San Diego

San Francisco

Seattle

St Louis

Tampa

Toronto

Washington DC

Variance % versus Last Year

+0.2%

Occupancy OutlookCommitted Occupancy

-20% -10% 0% 10% 20%

Atlanta

Boston

Charlotte

Chicago

Dallas

Denver

Detroit

Honolulu

Houston

Indianapolis

Los Angeles

Miami

Minneapolis St Paul

New York

Orlando

Philadelphia

Phoenix

San Antonio

San Diego

San Francisco

Seattle

St Louis

Tampa

Toronto

Washington DC

Pace Variance % versus Last Year

-0.1%

Legend:Total

Variance – All Markets

-2.3%

5.1%

-4.7%

2.1%

-4.4%

-2.2%

-3.1%

-1.2%

-14.6%

2.1%

2.9%

2.6%

-2.2%

3.8%

0.0%

-7.0%

0.2%

3.0%

7.1%

-4.2%

3.7%

0.5%

-4.1%

9.6%

-1.1%

-0.4%

-1.6%

0.6%

0.2%

-1.1%

0.8%

-0.4%

1.4%

2.1%

0.0%

0.8%

0.2%

-2.0%

-0.5%

0.1%

-3.0%

-1.3%

0.0%

0.9%

-0.8%

3.5%

-1.3%

0.4%

0.6%

-0.1%

As Of:April 1, 2017


Q2 2017 –Q1 2018

EXECUTIVE SUMMARY

7



Group Occupancy OutlookCommitted Occupancy

Legend:Group Block


As Of:April 1, 2017

Scope:Occupancy (Group Block)

-30% -15% 0% 15% 30%

Atlanta

Boston

Charlotte

Chicago

Dallas

Denver

Detroit

Honolulu

Houston

Indianapolis

Los Angeles

Miami

Minneapolis St Paul

New York

Orlando

Philadelphia

Phoenix

San Antonio

San Diego

San Francisco

Seattle

St Louis

Tampa

Toronto

Washington DC


-0.9%

-20% -10% 0% 10% 20%

Atlanta

Boston

Charlotte

Chicago

Dallas

Denver

Detroit

Honolulu

Houston

Indianapolis

Los Angeles

Miami

Minneapolis St Paul

New York

Orlando

Philadelphia

Phoenix

San Antonio

San Diego

San Francisco

Seattle

St Louis

Tampa

Toronto

Washington DC


-0.3%

-2.7%

5.7%

-6.2%

1.1%

-3.4%

-4.1%

-5.5%

-3.1%

-17.4%

3.3%

3.6%

1.3%

-1.3%

2.4%

-1.4%

-8.6%

-1.4%

1.4%

5.5%

-7.3%

2.9%

0.8%

-4.5%

10.7%

-3.2%

-0.5%

-3.1%

1.5%

0.4%

-0.5%

0.2%

-0.1%

2.1%

3.0%

-0.2%

0.5%

-0.9%

-1.4%

0.4%

-0.8%

-3.1%

-2.2%

-1.9%

-0.9%

-1.5%

5.0%

-1.8%

0.6%

-0.8%

0.1%

Q2 2017 –Q1 2018

EXECUTIVE SUMMARY

8



Group Occupancy OutlookReserved Occupancy

Legend:Group Reserved


As Of:April 1, 2017

Scope:Occupancy (Group Reserved)

-20% -10% 0% 10% 20%

Atlanta

Boston

Charlotte

Chicago

Dallas

Denver

Detroit

Honolulu

Houston

Indianapolis

Los Angeles

Miami

Minneapolis St Paul

New York

Orlando

Philadelphia

Phoenix

San Antonio

San Diego

San Francisco

Seattle

St Louis

Tampa

Toronto

Washington DC


-2.1%

-30% -15% 0% 15% 30%

Atlanta

Boston

Charlotte

Chicago

Dallas

Denver

Detroit

Honolulu

Houston

Indianapolis

Los Angeles

Miami

Minneapolis St Paul

New York

Orlando

Philadelphia

Phoenix

San Antonio

San Diego

San Francisco

Seattle

St Louis

Tampa

Toronto

Washington DC


-3.8%

-6.5%

-12.3%

-6.9%

-11.4%

-4.0%

1.8%

-0.9%

17.7%

-6.8%

-17.3%

-2.3%

-21.7%

-10.5%

7.5%

-3.1%

0.3%

-7.9%

-0.8%

6.7%

-6.8%

25.3%

-3.0%

-17.6%

8.1%

-0.9%

-4.8%

-5.7%

-3.9%

-6.7%

-1.4%

-6.5%

-0.6%

6.3%

0.1%

-9.2%

1.5%

-10.3%

-7.6%

2.9%

-2.5%

4.7%

-2.5%

4.3%

-1.1%

-6.4%

2.1%

0.5%

-9.1%

4.8%

0.2%

Q2 2017 –Q1 2018

EXECUTIVE SUMMARY

9



Transient Occupancy Outlook

Legend:Transient Reserved


As Of:April 1, 2017

Scope:Occupancy (Transient Reserved)

-20% -10% 0% 10% 20%

Atlanta

Boston

Charlotte

Chicago

Dallas

Denver

Detroit

Honolulu

Houston

Indianapolis

Los Angeles

Miami

Minneapolis St Paul

New York

Orlando

Philadelphia

Phoenix

San Antonio

San Diego

San Francisco

Seattle

St Louis

Tampa

Toronto

Washington DC


+0.4%

-30% -15% 0% 15% 30%

Atlanta

Boston

Charlotte

Chicago

Dallas

Denver

Detroit

Honolulu

Houston

Indianapolis

Los Angeles

Miami

Minneapolis St Paul

New York

Orlando

Philadelphia

Phoenix

San Antonio

San Diego

San Francisco

Seattle

St Louis

Tampa

Toronto

Washington DC


+2.5%

-1.8%

3.7%

-1.8%

5.1%

-7.1%

3.1%

1.9%

1.3%

-9.1%

-0.9%

1.8%

4.3%

-4.8%

5.3%

3.8%

-2.8%

5.5%

7.2%

11.7%

2.0%

5.3%

0.0%

-3.4%

7.1%

4.4%

0.1%

1.5%

-1.2%

-0.2%

-2.8%

2.7%

-0.9%

0.6%

0.3%

0.6%

1.3%

1.7%

-3.7%

-1.4%

2.5%

-2.6%

1.7%

5.0%

6.2%

0.7%

0.4%

0.1%

0.2%

3.7%

-0.5%

Q2 2017 –Q1 2018

EXECUTIVE SUMMARY

10



Average Daily Rate Outlook

Note: CAD has appreciated versus the USD by 2% year-over-year

Legend:TotalGroup ReservedTransient ReservedVariance - All Markets

As Of:April 1, 2017

Scope:ADR (Group Reserved, Transient Reserved)

-10% -5% 0% 5% 10%

Atlanta

Boston

Charlotte

Chicago

Dallas

Denver

Detroit

Honolulu

Houston

Indianapolis

Los Angeles

Miami

Minneapolis St Paul

New York

Orlando

Philadelphia

Phoenix

San Antonio

San Diego

San Francisco

Seattle

St Louis

Tampa

Toronto

Washington DC


-10% -5% 0% 5% 10%

Atlanta

Boston

Charlotte

Chicago

Dallas

Denver

Detroit

Honolulu

Houston

Indianapolis

Los Angeles

Miami

Minneapolis St Paul

New York

Orlando

Philadelphia

Phoenix

San Antonio

San Diego

San Francisco

Seattle

St Louis

Tampa

Toronto

Washington DC


+1.6%

2.4%

2.8%

3.3%

0.1%

0.2%

2.0%

1.4%

4.5%

-9.8%

2.3%

2.4%

-0.5%

1.8%

-0.9%

3.8%

2.5%

5.6%

3.9%

0.0%

-1.9%

6.3%

3.4%

0.8%

3.7%

2.8%

Q2 2017 –Q1 2018

EXECUTIVE SUMMARY

11



Q2 2017 Highlights

Q2 2017

• Committed occupancy for second quarter is up 1.2% year-over-year. Reserved occupancy is up 0.5%. New reservations added over the prior 30 days (pace) are up 0.2% compared to a year ago. RevPAR is up 1.9% based on reservations to this point.

• Group committed occupancy (based on group contracts) for second quarter is down -0.1%. Group reserved occupancy (based on reservations against contracted blocks) is up 0.1%.

• Transient demand for second quarter is up 2.9% over the same time last year. New reservations added over the prior 30 days (pace) are up 0.3% over the comparable period last year.

• Business and Leisure: Business demand, which includes the weekday transient negotiated and transient retail segments, is down -1.9% for second quarter. Leisure demand, which includes the transient discount, transient qualified, and transient wholesale segments, is up 6.6% for second quarter. New reservations added over the last month (pace) for the leisure segment is up 2.8%, while the business segment is -2.5%.

• ADR for second quarter is up 1.4% over the same time last year. The ADR increase is driven by transient, which is up 1.9%. Group ADR is up 0.4%. Business ADR is up 2.9% and leisure ADR is up 1.3%.

12



-4,000,000

0

4,000,000

8,000,000

12,000,000

16,000,000

20,000,000

Ro

om

Nig

hts

04/17 05/17 06/17

Var % vs LY Comm OCC -0.2% 2.9% 2.0%

Var % vs LY ADR 0.7% 1.6% 3.1%

Var % vs LY RevPAR -0.4% 5.7% 4.1%

-5%

0%

5%

10%

15%

20%

25%

Varian

ce % vs Last Ye

ar

Current on the Books and Last Year Variance

Performance By Month

Legend:

LY Room Nights

TY Room Nights

As Of:April 1, 2017

Scope:Committed Occupancy (Group Block + Transient Reserved), ADR, RevPAR

Q2 2017

Q2 2017

13




Legend:

TotalVariance – All Markets

As Of:April 1, 2017


-30% -15% 0% 15% 30%

Atlanta

Boston

Charlotte

Chicago

Dallas

Denver

Detroit

Honolulu

Houston

Indianapolis

Los Angeles

Miami

Minneapolis St Paul

New York

Orlando

Philadelphia

Phoenix

San Antonio

San Diego

San Francisco

Seattle

St Louis

Tampa

Toronto

Washington DC


-20% -10% 0% 10% 20%

Atlanta

Boston

Charlotte

Chicago

Dallas

Denver

Detroit

Honolulu

Houston

Indianapolis

Los Angeles

Miami

Minneapolis St Paul

New York

Orlando

Philadelphia

Phoenix

San Antonio

San Diego

San Francisco

Seattle

St Louis

Tampa

Toronto

Washington DC


0.4%

6.0%

-7.2%

2.2%

-5.8%

-4.4%

-1.0%

-0.2%

-6.5%

-4.6%

4.7%

2.2%

1.0%

2.7%

6.3%

0.3%

0.0%

5.0%

10.5%

-6.7%

7.4%

1.5%

-5.7%

9.3%

1.1%

0.8%

-1.8%

1.3%

-1.1%

-1.7%

1.4%

1.3%

0.6%

1.7%

0.7%

1.3%

2.4%

-2.5%

-1.1%

0.7%

-2.6%

1.9%

2.9%

1.9%

-0.1%

3.1%

0.8%

-0.3%

1.3%

-0.1%

+1.2% +0.2%

Q2 2017

Q2 2017

14



Occupancy OutlookReserved Occupancy

Legend:


As Of:April 1, 2017

Scope:Reserved Occupancy (Group Reserved + Transient Reserved)

-20% -10% 0% 10% 20%

Atlanta

Boston

Charlotte

Chicago

Dallas

Denver

Detroit

Honolulu

Houston

Indianapolis

Los Angeles

Miami

Minneapolis St Paul

New York

Orlando

Philadelphia

Phoenix

San Antonio

San Diego

San Francisco

Seattle

St Louis

Tampa

Toronto

Washington DC


-0.7%

-30% -15% 0% 15% 30%

Atlanta

Boston

Charlotte

Chicago

Dallas

Denver

Detroit

Honolulu

Houston

Indianapolis

Los Angeles

Miami

Minneapolis St Paul

New York

Orlando

Philadelphia

Phoenix

San Antonio

San Diego

San Francisco

Seattle

St Louis

Tampa

Toronto

Washington DC


-2.3%

-0.1%

-4.8%

-3.3%

-7.5%

1.6%

-1.0%

-1.1%

-3.5%

-8.5%

1.1%

-1.6%

-6.6%

4.1%

5.1%

-0.8%

-0.6%

6.9%

8.7%

-0.5%

9.7%

1.0%

-7.8%

11.2%

2.2%

-1.9%

-1.0%

-2.7%

-3.6%

-3.2%

-1.9%

-0.6%

-1.0%

0.7%

-3.8%

1.5%

-0.8%

-5.4%

-1.2%

0.6%

0.4%

-0.3%

5.6%

2.3%

-1.6%

-0.7%

1.0%

-3.0%

5.3%

-0.3%

+0.5%

Q2 2017

Q2 2017

15



-30% -15% 0% 15% 30%

Atlanta

Boston

Charlotte

Chicago

Dallas

Denver

Detroit

Honolulu

Houston

Indianapolis

Los Angeles

Miami

Minneapolis St Paul

New York

Orlando

Philadelphia

Phoenix

San Antonio

San Diego

San Francisco

Seattle

St Louis

Tampa

Toronto

Washington DC


-0.1%


Legend:

Group BlockVariance – All Markets

As Of:April 1, 2017


-20% -10% 0% 10% 20%

Atlanta

Boston

Charlotte

Chicago

Dallas

Denver

Detroit

Honolulu

Houston

Indianapolis

Los Angeles

Miami

Minneapolis St Paul

New York

Orlando

Philadelphia

Phoenix

San Antonio

San Diego

San Francisco

Seattle

St Louis

Tampa

Toronto

Washington DC


+0.1%

6.5%

6.8%

-11.4%

1.7%

-4.2%

-9.3%

-2.4%

4.0%

-10.0%

-5.2%

7.8%

-3.8%

3.2%

1.7%

3.5%

1.1%

-4.2%

0.7%

9.6%

-15.1%

10.8%

0.5%

-8.9%

9.6%

-1.8%

1.4%

-4.6%

3.7%

-1.3%

-0.2%

0.8%

2.8%

4.8%

2.3%

0.9%

1.4%

1.1%

-1.9%

0.6%

-1.1%

-3.0%

1.5%

1.1%

-1.2%

-1.3%

7.1%

0.7%

-1.3%

-0.5%

0.0%

Q2 2017

Q2 2017

16



Group Occupancy OutlookReserved Occupancy

As Of:April 1, 2017

Scope:Occupancy (Group Reserved)

Legend:

Group ReservedVariance – All Markets

-20% -10% 0% 10% 20%

Atlanta

Boston

Charlotte

Chicago

Dallas

Denver

Detroit

Honolulu

Houston

Indianapolis

Los Angeles

Miami

Minneapolis St Paul

New York

Orlando

Philadelphia

Phoenix

San Antonio

San Diego

San Francisco

Seattle

St Louis

Tampa

Toronto

Washington DC


-2.8%

-30% -15% 0% 15% 30%

Atlanta

Boston

Charlotte

Chicago

Dallas

Denver

Detroit

Honolulu

Houston

Indianapolis

Los Angeles

Miami

Minneapolis St Paul

New York

Orlando

Philadelphia

Phoenix

San Antonio

San Diego

San Francisco

Seattle

St Louis

Tampa

Toronto

Washington DC


-4.5%

0.4%

-10.2%

-10.3%

-12.9%

-6.4%

-1.6%

-4.7%

15.6%

-5.1%

-17.4%

-1.2%

-25.5%

-13.3%

7.3%

-2.5%

-0.8%

-9.5%

0.2%

4.0%

-9.0%

25.5%

-2.4%

-19.6%

16.0%

-2.9%

-4.9%

-6.1%

-6.4%

-7.9%

-2.4%

-9.6%

-1.0%

8.5%

-0.1%

-11.4%

2.0%

-12.6%

-8.4%

3.7%

-3.2%

6.0%

-3.6%

5.7%

-3.7%

-8.7%

-0.3%

1.1%

-11.3%

8.3%

-0.3%

Q2 2017

Q2 2017

17




Legend:

Transient ReservedVariance – All Markets

As Of:April 1, 2017


-20% -10% 0% 10% 20%

Atlanta

Boston

Charlotte

Chicago

Dallas

Denver

Detroit

Honolulu

Houston

Indianapolis

Los Angeles

Miami

Minneapolis St Paul

New York

Orlando

Philadelphia

Phoenix

San Antonio

San Diego

San Francisco

Seattle

St Louis

Tampa

Toronto

Washington DC


+0.3%

-30% -15% 0% 15% 30%

Atlanta

Boston

Charlotte

Chicago

Dallas

Denver

Detroit

Honolulu

Houston

Indianapolis

Los Angeles

Miami

Minneapolis St Paul

New York

Orlando

Philadelphia

Phoenix

San Antonio

San Diego

San Francisco

Seattle

St Louis

Tampa

Toronto

Washington DC


+2.9%

-3.9%

-3.9%

-2.7%

3.0%

-8.1%

3.4%

0.6%

-2.8%

-2.9%

-3.7%

1.9%

7.0%

-2.3%

3.4%

10.5%

-0.8%

7.2%

11.0%

11.7%

2.9%

4.1%

2.8%

-2.4%

8.8%

5.5%

0.0%

1.5%

-1.2%

-0.7%

-3.8%

2.4%

-0.4%

-2.0%

1.0%

0.4%

1.3%

3.4%

-3.4%

-2.2%

3.4%

-2.1%

2.5%

5.5%

6.3%

1.2%

-0.9%

1.0%

0.7%

3.8%

-0.3%

Q2 2017

Q2 2017

18



Transient Occupancy OutlookTransient Retail

Legend:


As Of:April 1, 2017

Scope:Occupancy (Transient Retail)

-20% -10% 0% 10% 20%

Atlanta

Boston

Charlotte

Chicago

Dallas

Denver

Detroit

Honolulu

Houston

Indianapolis

Los Angeles

Miami

Minneapolis St Paul

New York

Orlando

Philadelphia

Phoenix

San Antonio

San Diego

San Francisco

Seattle

St Louis

Tampa

Toronto

Washington DC


-3.6%

-30% -15% 0% 15% 30%

Atlanta

Boston

Charlotte

Chicago

Dallas

Denver

Detroit

Honolulu

Houston

Indianapolis

Los Angeles

Miami

Minneapolis St Paul

New York

Orlando

Philadelphia

Phoenix

San Antonio

San Diego

San Francisco

Seattle

St Louis

Tampa

Toronto

Washington DC


-0.5%

-1.0%

-3.8%

-7.7%

-3.1%

-7.0%

0.4%

-1.5%

-8.5%

-3.0%

-1.9%

-6.6%

-5.0%

-5.1%

-6.2%

-0.6%

-1.6%

1.9%

5.6%

-0.5%

-5.7%

-4.1%

-1.0%

-4.4%

4.1%

-6.0%

-2.2%

-3.4%

-14.4%

1.6%

-9.5%

-2.7%

-6.5%

-6.0%

-13.1%

-8.4%

-5.8%

-0.7%

-6.7%

1.6%

10.3%

6.3%

13.6%

12.3%

1.4%

-6.7%

13.0%

4.2%

-5.1%

17.8%

3.3%

Q2 2017

Q2 2017

19



Transient Occupancy OutlookTransient Discount

Legend:


As Of:April 1, 2017

Scope:Occupancy (Transient Discount)

-20% -10% 0% 10% 20%

Atlanta

Boston

Charlotte

Chicago

Dallas

Denver

Detroit

Honolulu

Houston

Indianapolis

Los Angeles

Miami

Minneapolis St Paul

New York

Orlando

Philadelphia

Phoenix

San Antonio

San Diego

San Francisco

Seattle

St Louis

Tampa

Toronto

Washington DC


+3.8%

-30% -15% 0% 15% 30%

Atlanta

Boston

Charlotte

Chicago

Dallas

Denver

Detroit

Honolulu

Houston

Indianapolis

Los Angeles

Miami

Minneapolis St Paul

New York

Orlando

Philadelphia

Phoenix

San Antonio

San Diego

San Francisco

Seattle

St Louis

Tampa

Toronto

Washington DC


+8.5%

-3.3%

18.4%

-6.1%

12.5%

-5.8%

7.3%

7.6%

0.4%

2.4%

1.2%

9.1%

16.2%

3.3%

6.1%

12.8%

0.5%

12.6%

13.2%

21.2%

7.1%

1.7%

14.1%

1.1%

8.2%

14.8%

2.9%

6.9%

-3.0%

5.5%

-1.6%

5.0%

3.0%

4.0%

0.9%

3.9%

7.9%

8.6%

1.9%

-0.6%

4.0%

1.4%

8.1%

7.1%

10.4%

4.8%

0.8%

6.7%

4.7%

5.0%

5.8%

Q2 2017

Q2 2017

20



Transient Occupancy OutlookRetail + Discount Combined

Legend:


As Of:April 1, 2017

Scope:Occupancy (Transient Retail + Transient Discount)

-20% -10% 0% 10% 20%

Atlanta

Boston

Charlotte

Chicago

Dallas

Denver

Detroit

Honolulu

Houston

Indianapolis

Los Angeles

Miami

Minneapolis St Paul

New York

Orlando

Philadelphia

Phoenix

San Antonio

San Diego

San Francisco

Seattle

St Louis

Tampa

Toronto

Washington DC


+1.0%

-30% -15% 0% 15% 30%

Atlanta

Boston

Charlotte

Chicago

Dallas

Denver

Detroit

Honolulu

Houston

Indianapolis

Los Angeles

Miami

Minneapolis St Paul

New York

Orlando

Philadelphia

Phoenix

San Antonio

San Diego

San Francisco

Seattle

St Louis

Tampa

Toronto

Washington DC


+5.0%

-2.8%

9.4%

-10.2%

7.9%

-7.7%

2.9%

0.3%

-1.1%

-4.9%

-4.1%

2.7%

11.8%

-1.3%

5.0%

12.0%

3.3%

13.0%

12.8%

13.3%

2.1%

6.3%

9.1%

-1.5%

11.7%

10.0%

1.1%

2.5%

-5.3%

1.9%

-4.4%

3.0%

0.7%

1.0%

-1.0%

0.7%

1.7%

5.0%

-1.4%

-2.0%

2.5%

0.0%

5.6%

6.5%

6.1%

1.0%

-1.2%

2.8%

0.9%

4.7%

0.9%

Q2 2017

Q2 2017

21



Transient Occupancy OutlookTransient Negotiated

Legend:


As Of:April 1, 2017

Scope:Occupancy (Transient Negotiated)

-30% -15% 0% 15% 30%

Atlanta

Boston

Charlotte

Chicago

Dallas

Denver

Detroit

Honolulu

Houston

Indianapolis

Los Angeles

Miami

Minneapolis St Paul

New York

Orlando

Philadelphia

Phoenix

San Antonio

San Diego

San Francisco

Seattle

St Louis

Tampa

Toronto

Washington DC


-3.1%

-20% -10% 0% 10% 20%

Atlanta

Boston

Charlotte

Chicago

Dallas

Denver

Detroit

Honolulu

Houston

Indianapolis

Los Angeles

Miami

Minneapolis St Paul

New York

Orlando

Philadelphia

Phoenix

San Antonio

San Diego

San Francisco

Seattle

St Louis

Tampa

Toronto

Washington DC


-2.1%

-6.2%

-2.4%

9.6%

-5.0%

-9.8%

1.9%

1.3%

-18.4%

-4.2%

-1.6%

-5.5%

-10.1%

-4.7%

-3.7%

3.0%

-6.6%

-5.5%

6.6%

8.6%

-1.7%

0.5%

-12.1%

-6.3%

2.1%

0.2%

-3.9%

-0.4%

4.3%

-5.4%

-3.5%

0.6%

-2.1%

-14.9%

1.3%

-1.4%

-2.8%

-8.0%

-7.4%

-4.1%

4.0%

-5.6%

-3.7%

5.8%

6.4%

-2.1%

1.8%

-4.4%

-3.9%

2.4%

-1.2%

Q2 2017

Q2 2017

22



Committed Occupancy OutlookWeekday Performance

Legend:


As Of:April 1, 2017

Scope:Committed Occupancy (Weekday Group Block + Transient Reserved)

-20% -10% 0% 10% 20%

Atlanta

Boston

Charlotte

Chicago

Dallas

Denver

Detroit

Honolulu

Houston

Indianapolis

Los Angeles

Miami

Minneapolis St Paul

New York

Orlando

Philadelphia

Phoenix

San Antonio

San Diego

San Francisco

Seattle

St Louis

Tampa

Toronto

Washington DC


+0.0%

-30% -15% 0% 15% 30%

Atlanta

Boston

Charlotte

Chicago

Dallas

Denver

Detroit

Honolulu

Houston

Indianapolis

Los Angeles

Miami

Minneapolis St Paul

New York

Orlando

Philadelphia

Phoenix

San Antonio

San Diego

San Francisco

Seattle

St Louis

Tampa

Toronto

Washington DC


+1.4%

0.0%

7.5%

-7.1%

2.0%

-6.0%

-5.3%

1.1%

-0.8%

-6.1%

-5.0%

5.8%

0.3%

1.8%

2.7%

7.3%

-0.6%

-0.2%

6.6%

10.5%

-8.3%

7.4%

3.5%

-5.9%

11.8%

1.0%

0.7%

-2.1%

1.0%

-1.6%

-2.0%

1.2%

1.7%

0.5%

1.4%

0.8%

0.8%

2.0%

-3.1%

-1.2%

1.5%

-3.1%

1.8%

3.2%

1.6%

-0.5%

2.8%

0.4%

-0.4%

2.1%

-0.5%

Q2 2017

Q2 2017

23



Committed Occupancy OutlookWeekend Performance

Legend:


As Of:April 1, 2017

Scope:Committed Occupancy (Weekend Group Block + Transient Reserved)

-20% -10% 0% 10% 20%

Atlanta

Boston

Charlotte

Chicago

Dallas

Denver

Detroit

Honolulu

Houston

Indianapolis

Los Angeles

Miami

Minneapolis St Paul

New York

Orlando

Philadelphia

Phoenix

San Antonio

San Diego

San Francisco

Seattle

St Louis

Tampa

Toronto

Washington DC


+0.6%

-30% -15% 0% 15% 30%

Atlanta

Boston

Charlotte

Chicago

Dallas

Denver

Detroit

Honolulu

Houston

Indianapolis

Los Angeles

Miami

Minneapolis St Paul

New York

Orlando

Philadelphia

Phoenix

San Antonio

San Diego

San Francisco

Seattle

St Louis

Tampa

Toronto

Washington DC


+1.0 %

1.3%

2.8%

-7.4%

2.6%

-5.3%

-2.2%

-4.4%

1.3%

-7.1%

-3.9%

2.5%

6.1%

-0.5%

2.7%

4.1%

1.8%

0.5%

1.9%

10.6%

-2.9%

7.6%

-1.8%

-5.2%

4.4%

1.2%

1.1%

-1.2%

1.9%

-0.1%

-1.1%

2.1%

0.7%

0.8%

2.1%

0.6%

2.4%

3.1%

-1.3%

-0.7%

-1.0%

-1.8%

2.0%

2.5%

2.6%

0.8%

3.6%

1.5%

0.0%

-0.3%

0.6%

Q2 2017

Q2 2017

24



Average Daily Rate Outlook

Legend:

Total

Group ReservedTransient ReservedVariance - All Markets

As Of:April 1, 2017

Scope:ADR (Group Reserved, Transient Reserved)

Note: CAD has appreciated versus the USD by 2% year-over-year

-10% -5% 0% 5% 10%

Atlanta

Boston

Charlotte

Chicago

Dallas

Denver

Detroit

Honolulu

Houston

Indianapolis

Los Angeles

Miami

Minneapolis St Paul

New York

Orlando

Philadelphia

Phoenix

San Antonio

San Diego

San Francisco

Seattle

St Louis

Tampa

Toronto

Washington DC


-10% -5% 0% 5% 10%

Atlanta

Boston

Charlotte

Chicago

Dallas

Denver

Detroit

Honolulu

Houston

Indianapolis

Los Angeles

Miami

Minneapolis St Paul

New York

Orlando

Philadelphia

Phoenix

San Antonio

San Diego

San Francisco

Seattle

St Louis

Tampa

Toronto

Washington DC


+1.4 %

3.9%

2.6%

3.0%

0.2%

0.2%

1.0%

1.8%

3.8%

-10.4%

-0.2%

1.6%

-1.5%

-1.7%

0.4%

3.4%

3.9%

7.6%

3.3%

-1.1%

-3.4%

7.8%

2.5%

0.8%

4.4%

2.5%

Q2 2017

Q2 2017

25



• Committed occupancy for the third quarter of 2017 is down -4.3% year-over-year. July committed occupancy is down -3.9% compared to a year ago, while August and September demand are both down -0.8% and -8.1% from last year.

• Group committed occupancy is down -5.9% compared to a year ago. New group commitments (sales) over the past 30 days (pace) are down -0.6% over the comparable period last year.

• Transient demand is up 1.3%. New transient bookings over the past 30 days (pace) are up 0.9% in comparison to the same period last year. Business demand, which includes the weekday transient negotiated and transient retail segments, is down -3.1%. Leisure demand, which includes the transient discount, qualified and wholesale segments, is up 3.2%. New booking pace over the past 30 days is up for leisure segment at 2.5%. The business segment is down at -2.2%.

• ADR for Q3 is up 1.9% over the same time last year, based on reservations currently on the books at this point in the booking window. The ADR increase is driven by Group, which is up 4.5%. Transient ADR is up 0.8%.

Q3 2017 Highlights

Q3 2017

26



-2,000,000

0

2,000,000

4,000,000

6,000,000

8,000,000

10,000,000

Ro

om

Nig

hts

07/17 08/17 09/17

Var % vs LY Comm OCC -3.9% -0.8% -8.1%

Var % vs LY ADR 1.4% 3.4% 1.6%

Var % vs LY RevPAR 0.9% 7.0% -3.7%

-10%

0%

10%

20%

30%

Varian

ce % vs Last Ye

ar



Legend:

LY Room Nights

TY Room Nights

As Of:April 1, 2017


Q3 2017

Q3 2017

27




Legend:


As Of:April 1, 2017


Q3 2017-20% -10% 0% 10% 20%

Atlanta

Boston

Charlotte

Chicago

Dallas

Denver

Detroit

Honolulu

Houston

Indianapolis

Los Angeles

Miami

Minneapolis St Paul

New York

Orlando

Philadelphia

Phoenix

San Antonio

San Diego

San Francisco

Seattle

St Louis

Tampa

Toronto

Washington DC


-0.2%

-30% -15% 0% 15% 30%

Atlanta

Boston

Charlotte

Chicago

Dallas

Denver

Detroit

Honolulu

Houston

Indianapolis

Los Angeles

Miami

Minneapolis St Paul

New York

Orlando

Philadelphia

Phoenix

San Antonio

San Diego

San Francisco

Seattle

St Louis

Tampa

Toronto

Washington DC


-4.3%

-3.2%

0.3%

17.2%

-5.0%

-4.7%

-7.6%

0.2%

-4.9%

-31.0%

9.7%

-3.2%

6.2%

-16.8%

2.9%

-10.4%

-28.8%

-1.2%

-4.9%

1.8%

-0.2%

-2.7%

0.0%

4.3%

0.9%

-3.5%

-1.3%

-2.9%

1.6%

-0.7%

-0.6%

0.2%

-1.0%

3.5%

1.3%

0.1%

0.7%

-1.0%

-2.7%

0.8%

-1.8%

-2.2%

0.1%

2.9%

0.5%

-0.3%

2.3%

-4.1%

-0.6%

-0.4%

0.0%

Q3 2017

28




Legend:


As Of:April 1, 2017


Q3 2017-20% -10% 0% 10% 20%

Atlanta

Boston

Charlotte

Chicago

Dallas

Denver

Detroit

Honolulu

Houston

Indianapolis

Los Angeles

Miami

Minneapolis St Paul

New York

Orlando

Philadelphia

Phoenix

San Antonio

San Diego

San Francisco

Seattle

St Louis

Tampa

Toronto

Washington DC


-0.6%

-30% -15% 0% 15% 30%

Atlanta

Boston

Charlotte

Chicago

Dallas

Denver

Detroit

Honolulu

Houston

Indianapolis

Los Angeles

Miami

Minneapolis St Paul

New York

Orlando

Philadelphia

Phoenix

San Antonio

San Diego

San Francisco

Seattle

St Louis

Tampa

Toronto

Washington DC


-5.9%

-4.1%

0.4%

11.4%

-7.0%

-4.7%

-8.3%

-0.6%

-13.6%

-33.5%

9.1%

-3.9%

9.8%

-16.5%

-1.1%

-11.4%

-30.0%

-2.0%

-4.3%

-0.1%

0.3%

-5.8%

-1.1%

7.4%

0.8%

-4.9%

-1.8%

-4.0%

0.8%

-0.9%

-1.1%

-0.4%

-0.5%

1.9%

1.7%

-0.1%

1.1%

-1.6%

-2.4%

0.8%

-2.6%

-1.5%

0.1%

2.9%

-1.2%

-0.6%

2.0%

-5.3%

0.0%

-1.4%

0.3%

Q3 2017

29




Legend:


As Of:April 1, 2017


-20% -10% 0% 10% 20%

Atlanta

Boston

Charlotte

Chicago

Dallas

Denver

Detroit

Honolulu

Houston

Indianapolis

Los Angeles

Miami

Minneapolis St Paul

New York

Orlando

Philadelphia

Phoenix

San Antonio

San Diego

San Francisco

Seattle

St Louis

Tampa

Toronto

Washington DC


+0.9%

-30% -15% 0% 15% 30%

Atlanta

Boston

Charlotte

Chicago

Dallas

Denver

Detroit

Honolulu

Houston

Indianapolis

Los Angeles

Miami

Minneapolis St Paul

New York

Orlando

Philadelphia

Phoenix

San Antonio

San Diego

San Francisco

Seattle

St Louis

Tampa

Toronto

Washington DC


+1.3%

-0.6%

-0.3%

48.5%

5.2%

-4.8%

-4.0%

3.7%

9.9%

-18.5%

12.2%

-1.3%

0.9%

-18.6%

10.0%

-7.6%

-21.7%

5.0%

-7.7%

9.1%

-1.2%

6.9%

5.3%

-6.1%

1.3%

2.8%

1.2%

1.0%

5.9%

0.4%

2.6%

3.1%

-3.4%

6.2%

-0.7%

0.9%

-0.2%

-0.1%

-4.5%

0.7%

0.7%

-5.9%

0.1%

2.7%

6.5%

0.3%

3.3%

2.0%

-2.8%

2.7%

-1.3%

Q3 2017

Q3 2017

30




Legend:


As Of:April 1, 2017


Q3 2017-20% -10% 0% 10% 20%

Atlanta

Boston

Charlotte

Chicago

Dallas

Denver

Detroit

Honolulu

Houston

Indianapolis

Los Angeles

Miami

Minneapolis St Paul

New York

Orlando

Philadelphia

Phoenix

San Antonio

San Diego

San Francisco

Seattle

St Louis

Tampa

Toronto

Washington DC


-0.4%

-30% -15% 0% 15% 30%

Atlanta

Boston

Charlotte

Chicago

Dallas

Denver

Detroit

Honolulu

Houston

Indianapolis

Los Angeles

Miami

Minneapolis St Paul

New York

Orlando

Philadelphia

Phoenix

San Antonio

San Diego

San Francisco

Seattle

St Louis

Tampa

Toronto

Washington DC


-4.8%

-4.1%

2.8%

22.7%

-5.8%

-5.5%

-7.2%

0.5%

-5.3%

-35.6%

13.8%

-3.4%

5.8%

-17.8%

2.2%

-10.4%

-37.4%

-2.3%

-3.6%

2.4%

-0.5%

-3.0%

1.4%

5.9%

-0.3%

-3.9%

-1.5%

-3.3%

2.4%

-1.5%

-1.8%

-0.2%

-0.1%

3.1%

0.8%

0.5%

0.8%

-1.6%

-1.9%

0.6%

-2.0%

-1.9%

0.0%

2.3%

0.2%

-0.3%

2.1%

-6.0%

-1.6%

-0.4%

0.5%

Q3 2017

31




Legend:


As Of:April 1, 2017


Q3 2017-20% -10% 0% 10% 20%

Atlanta

Boston

Charlotte

Chicago

Dallas

Denver

Detroit

Honolulu

Houston

Indianapolis

Los Angeles

Miami

Minneapolis St Paul

New York

Orlando

Philadelphia

Phoenix

San Antonio

San Diego

San Francisco

Seattle

St Louis

Tampa

Toronto

Washington DC


+0.1%

-30% -15% 0% 15% 30%

Atlanta

Boston

Charlotte

Chicago

Dallas

Denver

Detroit

Honolulu

Houston

Indianapolis

Los Angeles

Miami

Minneapolis St Paul

New York

Orlando

Philadelphia

Phoenix

San Antonio

San Diego

San Francisco

Seattle

St Louis

Tampa

Toronto

Washington DC


-3.2%

-1.6%

-3.9%

9.3%

-3.6%

-3.2%

-8.3%

-0.2%

-4.2%

-23.1%

4.0%

-2.9%

7.1%

-15.2%

4.1%

-10.5%

-15.7%

2.0%

-7.7%

0.6%

0.4%

-2.2%

-2.1%

1.2%

3.2%

-2.7%

-1.0%

-2.3%

0.4%

0.7%

1.8%

1.0%

-1.9%

4.2%

2.3%

-0.5%

0.7%

0.3%

-4.1%

1.0%

-1.2%

-2.6%

0.3%

4.3%

1.0%

-0.2%

2.8%

-1.5%

1.3%

-0.5%

-0.9%

Q3 2017

32



Committed occupancy growth for the fourth quarter of 2017 is up 4.5%. Reserved occupancy is up

6.0%. New occupancy commitments added over the past 30 days (pace) are flat at 0.0% versus the

comparable period last year. There is strong growth in the following markets compared to the

same time last year: Toronto (+31.2%), Seattle (+18.2%), Philadelphia (+15.4%), Atlanta (+13.9%)

and Denver (+13.8%).

Q4 2017 Highlights

Q4 2017

33



-2,000,000

0

2,000,000

4,000,000

6,000,000

8,000,000

Ro

om

Nig

hts

10/17 11/17 12/17

Var % vs LY Comm OCC 6.8% 1.8% 3.5%

-10%

0%

10%

20%

30%

Varian

ce % vs Last Ye

ar



Legend:

LY Room Nights

TY Room Nights

As Of:April 1, 2017


Q4 2017

Q4 2017

34




Legend:


As Of:April 1, 2017


Q4 2017-20% -10% 0% 10% 20%

Atlanta

Boston

Charlotte

Chicago

Dallas

Denver

Detroit

Honolulu

Houston

Indianapolis

Los Angeles

Miami

Minneapolis St Paul

New York

Orlando

Philadelphia

Phoenix

San Antonio

San Diego

San Francisco

Seattle

St Louis

Tampa

Toronto

Washington DC


+0.0%

-30% -15% 0% 15% 30%

Atlanta

Boston

Charlotte

Chicago

Dallas

Denver

Detroit

Honolulu

Houston

Indianapolis

Los Angeles

Miami

Minneapolis St Paul

New York

Orlando

Philadelphia

Phoenix

San Antonio

San Diego

San Francisco

Seattle

St Louis

Tampa

Toronto

Washington DC


+4.5%

-13.9%

7.6%

-5.6%

6.1%

2.7%

13.8%

-7.0%

3.1%

-3.3%

9.1%

5.2%

0.7%

-14.2%

4.8%

-3.1%

15.4%

5.7%

2.9%

7.6%

-3.9%

18.2%

4.4%

1.2%

31.2%

-0.7%

-0.1%

0.7%

1.3%

1.4%

-0.4%

1.6%

3.1%

1.0%

4.3%

-0.1%

-1.9%

-2.3%

-2.6%

-0.8%

1.1%

0.0%

-4.0%

0.4%

1.2%

-2.8%

6.7%

-6.2%

4.7%

-0.8%

0.8%

Q4 2017

35




Legend:


As Of:April 1, 2017


Q4 2017-20% -10% 0% 10% 20%

Atlanta

Boston

Charlotte

Chicago

Dallas

Denver

Detroit

Honolulu

Houston

Indianapolis

Los Angeles

Miami

Minneapolis St Paul

New York

Orlando

Philadelphia

Phoenix

San Antonio

San Diego

San Francisco

Seattle

St Louis

Tampa

Toronto

Washington DC


-0.1%

-30% -15% 0% 15% 30%

Atlanta

Boston

Charlotte

Chicago

Dallas

Denver

Detroit

Honolulu

Houston

Indianapolis

Los Angeles

Miami

Minneapolis St Paul

New York

Orlando

Philadelphia

Phoenix

San Antonio

San Diego

San Francisco

Seattle

St Louis

Tampa

Toronto

Washington DC


+4.4%

-12.8%

8.3%

-3.9%

3.7%

2.0%

12.0%

-10.4%

3.0%

-0.6%

10.9%

5.0%

3.5%

-12.9%

4.4%

-1.9%

13.9%

5.9%

3.9%

6.1%

-5.0%

17.4%

11.9%

0.3%

33.1%

-0.7%

-0.1%

0.3%

1.8%

1.2%

-1.0%

1.1%

3.6%

0.6%

5.3%

-0.6%

-3.0%

-0.9%

-2.5%

-0.3%

1.1%

0.0%

-4.1%

0.0%

1.0%

-3.0%

5.8%

-5.4%

5.2%

-1.8%

0.8%

Q4 2017

36




Legend:


As Of:April 1, 2017


Q4 2017-20% -10% 0% 10% 20%

Atlanta

Boston

Charlotte

Chicago

Dallas

Denver

Detroit

Honolulu

Houston

Indianapolis

Los Angeles

Miami

Minneapolis St Paul

New York

Orlando

Philadelphia

Phoenix

San Antonio

San Diego

San Francisco

Seattle

St Louis

Tampa

Toronto

Washington DC


+0.0%

-30% -15% 0% 15% 30%

Atlanta

Boston

Charlotte

Chicago

Dallas

Denver

Detroit

Honolulu

Houston

Indianapolis

Los Angeles

Miami

Minneapolis St Paul

New York

Orlando

Philadelphia

Phoenix

San Antonio

San Diego

San Francisco

Seattle

St Louis

Tampa

Toronto

Washington DC


+4.6%

27.8%

-17.3%

8.4%

-10.1%

7.5%

1.7%

20.6%

-11.4%

2.5%

1.0%

7.1%

4.8%

0.4%

-14.1%

5.1%

-3.6%

16.2%

4.1%

5.3%

5.8%

-0.8%

23.8%

13.1%

1.0%

33.7%

-1.8%

-1.1%

1.4%

0.6%

1.6%

0.6%

1.5%

6.3%

1.4%

3.6%

-0.6%

-2.1%

-1.5%

-2.5%

-1.0%

1.1%

0.6%

-3.8%

-0.6%

0.9%

-3.2%

6.6%

-5.0%

4.5%

-2.5%

0.6%

Q4 2017

37




Legend:


As Of:April 1, 2017


Q4 2017-20% -10% 0% 10% 20%

Atlanta

Boston

Charlotte

Chicago

Dallas

Denver

Detroit

Honolulu

Houston

Indianapolis

Los Angeles

Miami

Minneapolis St Paul

New York

Orlando

Philadelphia

Phoenix

San Antonio

San Diego

San Francisco

Seattle

St Louis

Tampa

Toronto

Washington DC


+0.1%

-30% -15% 0% 15% 30%

Atlanta

Boston

Charlotte

Chicago

Dallas

Denver

Detroit

Honolulu

Houston

Indianapolis

Los Angeles

Miami

Minneapolis St Paul

New York

Orlando

Philadelphia

Phoenix

San Antonio

San Diego

San Francisco

Seattle

St Louis

Tampa

Toronto

Washington DC


+4.2%

-7.6%

6.2%

1.7%

3.2%

5.0%

-1.3%

-2.1%

4.5%

-11.4%

12.4%

6.0%

1.5%

-14.6%

4.3%

-1.5%

14.5%

10.0%

-2.6%

11.9%

-12.8%

5.7%

-7.2%

1.6%

25.6%

1.7%

2.1%

-0.6%

2.4%

1.0%

-2.6%

1.8%

-0.4%

-0.1%

5.5%

0.7%

-1.6%

-4.2%

-2.8%

-0.4%

1.2%

-0.7%

-4.5%

2.6%

2.1%

-1.4%

7.0%

-7.9%

5.0%

3.1%

1.2%

Q4 2017

38



Committed occupancy for the first quarter of 2018 is up 0.3% year-over-year. New commitments

added over the last month (pace) are down -1.7% compared to a year ago. There is strong growth

in the following markets compared to the same time last year: Minneapolis St Paul (+87.4%),

Chicago (+34.2%), New York (+22.3%) and Boston (+16.0%).

Q1 2018 Highlights

Q1 2018

39



-1,500,000

0

1,500,000

3,000,000

Ro

om

Nig

hts

01/18 02/18 03/18

Var % vs LY Comm OCC 3.3% 1.1% -4.6%

-10%

0%

10%

20%

Varian

ce % vs Last Ye

ar



Legend:

LY Room Nights

TY Room Nights

As Of:April 1, 2017


Q1 2018

Q1 2018

40




Legend:


As Of:April 1, 2017


-20% -10% 0% 10% 20%

Atlanta

Boston

Charlotte

Chicago

Dallas

Denver

Detroit

Honolulu

Houston

Indianapolis

Los Angeles

Miami

Minneapolis St Paul

New York

Orlando

Philadelphia

Phoenix

San Antonio

San Diego

San Francisco

Seattle

St Louis

Tampa

Toronto

Washington DC


-1.7%

-30% -15% 0% 15% 30%

Atlanta

Boston

Charlotte

Chicago

Dallas

Denver

Detroit

Honolulu

Houston

Indianapolis

Los Angeles

Miami

Minneapolis St Paul

New York

Orlando

Philadelphia

Phoenix

San Antonio

San Diego

San Francisco

Seattle

St Louis

Tampa

Toronto

Washington DC


+0.3%

13.8%

16.0%

-37.8%

34.2%

-6.7%

9.1%

-52.7%

-3.6%

-40.5%

4.8%

8.7%

-0.9%

87.4%

22.3%

4.0%

-6.0%

-4.5%

9.4%

5.3%

-2.2%

-16.9%

-16.9%

-22.1%

11.3%

-12.9%

-4.4%

0.3%

-5.9%

17.6%

0.0%

-3.4%

-37.2%

-0.7%

3.2%

-5.9%

2.4%

-5.9%

9.1%

0.4%

-0.1%

-24.1%

-11.2%

-18.7%

-1.9%

-2.3%

5.7%

7.1%

0.7%

4.1%

-2.4%

Q1 2018

Q1 2018

41




Legend:


As Of:April 1, 2017


-20% -10% 0% 10% 20%

Atlanta

Boston

Charlotte

Chicago

Dallas

Denver

Detroit

Honolulu

Houston

Indianapolis

Los Angeles

Miami

Minneapolis St Paul

New York

Orlando

Philadelphia

Phoenix

San Antonio

San Diego

San Francisco

Seattle

St Louis

Tampa

Toronto

Washington DC


-1.7%

-30% -15% 0% 15% 30%

Atlanta

Boston

Charlotte

Chicago

Dallas

Denver

Detroit

Honolulu

Houston

Indianapolis

Los Angeles

Miami

Minneapolis St Paul

New York

Orlando

Philadelphia

Phoenix

San Antonio

San Diego

San Francisco

Seattle

St Louis

Tampa

Toronto

Washington DC


+1.0%

14.0%

16.8%

-29.9%

34.5%

-5.8%

9.3%

-54.0%

-5.7%

-32.1%

6.9%

7.4%

-1.4%

81.6%

20.2%

4.7%

-6.9%

-3.0%

9.6%

5.6%

-2.6%

-17.4%

-17.4%

-20.4%

11.6%

-11.5%

-4.2%

0.3%

-4.1%

17.5%

1.0%

-3.5%

-38.5%

-1.4%

5.1%

-5.6%

2.1%

-6.7%

9.6%

-1.2%

-0.1%

-24.5%

-11.5%

-20.4%

-2.0%

-1.5%

5.6%

8.2%

0.9%

4.0%

-2.0%

Q1 2018

Q1 2018

42




Legend:


As Of:April 1, 2017


-20% -10% 0% 10% 20%

Atlanta

Boston

Charlotte

Chicago

Dallas

Denver

Detroit

Honolulu

Houston

Indianapolis

Los Angeles

Miami

Minneapolis St Paul

New York

Orlando

Philadelphia

Phoenix

San Antonio

San Diego

San Francisco

Seattle

St Louis

Tampa

Toronto

Washington DC


-1.2%

-30% -15% 0% 15% 30%

Atlanta

Boston

Charlotte

Chicago

Dallas

Denver

Detroit

Honolulu

Houston

Indianapolis

Los Angeles

Miami

Minneapolis St Paul

New York

Orlando

Philadelphia

Phoenix

San Antonio

San Diego

San Francisco

Seattle

St Louis

Tampa

Toronto

Washington DC


+1.6%

8.8%

18.2%

-36.2%

54.4%

-7.0%

15.5%

-53.9%

-3.9%

-34.5%

1.0%

11.1%

0.0%

78.3%

23.3%

3.4%

-17.2%

-2.6%

14.9%

2.3%

-2.2%

-18.0%

-28.7%

-26.0%

14.0%

-10.8%

-3.8%

2.9%

-6.0%

25.0%

1.2%

1.6%

-40.1%

-1.1%

4.6%

-4.6%

4.9%

-3.8%

7.6%

0.8%

-0.8%

-23.5%

-13.6%

-17.2%

-3.3%

-3.4%

6.5%

0.4%

-1.4%

6.0%

-0.3%

Q1 2018

Q1 2018

43




Legend:


As Of:April 1, 2017


-20% -10% 0% 10% 20%

Atlanta

Boston

Charlotte

Chicago

Dallas

Denver

Detroit

Honolulu

Houston

Indianapolis

Los Angeles

Miami

Minneapolis St Paul

New York

Orlando

Philadelphia

Phoenix

San Antonio

San Diego

San Francisco

Seattle

St Louis

Tampa

Toronto

Washington DC


-2.9%

-30% -15% 0% 15% 30%

Atlanta

Boston

Charlotte

Chicago

Dallas

Denver

Detroit

Honolulu

Houston

Indianapolis

Los Angeles

Miami

Minneapolis St Paul

New York

Orlando

Philadelphia

Phoenix

San Antonio

San Diego

San Francisco

Seattle

St Louis

Tampa

Toronto

Washington DC


-2.5%

25.2%

12.4%

-39.9%

4.5%

-5.8%

-2.3%

-50.8%

-2.8%

-50.4%

10.6%

3.4%

-3.3%

102.7%

20.4%

6.2%

10.5%

-9.7%

-1.3%

15.4%

-2.2%

-14.2%

0.1%

-13.6%

6.7%

-17.3%

-5.6%

-4.0%

-5.6%

6.5%

-2.5%

-12.3%

-33.0%

0.4%

1.0%

-7.9%

-2.9%

-11.4%

11.6%

-0.5%

2.3%

-24.9%

-4.5%

-21.7%

2.6%

1.1%

3.7%

16.9%

5.2%

0.7%

-6.7%

Q1 2018

Q1 2018

44



Appendix

• Markets and Data Participation

• Typical Demand Curve

• Quadrant Analysis

• Glossary

APPENDIX

45



Markets and Data ParticipantsMarket # of Properties # of Rooms

Atlanta 303 52,402

Boston 192 40,380

Charlotte 130 18,612

Chicago 320 74,052

Dallas 390 64,151

Denver 206 34,821

Detroit 145 21,811

Honolulu 18 13,537

Houston 339 49,642

Indianapolis 138 19,236

Los Angeles 374 83,004

Miami 131 27,468

Minneapolis St. Paul 128 22,562

New York 432 105,238

Orlando 167 44,997

Philadelphia 191 32,391

Phoenix 176 34,435

San Antonio 166 27,325

San Diego 140 32,430

San Francisco 119 34,421

Seattle 126 24,746

St. Louis 108 17,686

Tampa 150 21,533

Toronto 130 30,278

Washington DC 329 71,053

All Markets 5,048 998,211

Companies(may include some or all brands)

Four Seasons Hotels and Resorts

Hilton Hotels & Resorts

Hyatt

InterContinental Hotels Group

La Quinta Inns & Suites

Loews Hotels

Marriott International

Omni Hotels & Resorts

Independent/ Small Brands

APPENDIX

46



Typical Demand Curve

0%

20%

40%

60%

80%

100%

120%

0 1 2 3 4 5 6 7 8 9 10 11 12

% B

oo

ked

Months Left

Group Comm Transient Res Total Comm

Current Quarter Quarter Current + 1

Quarter Current + 2

QuarterCurrent + 3

The above graph illustrates the typical booking pattern of group committed, transient reserved, and total committed demand. The booking curve is based on historical booking data from the last year, across the reported markets. The graph shows how far in advance group blocks are committed, as well as how relatively late in the booking cycle transient demand appears. The four quarter regions on the diagram provide an indication of the business that is typically on the books for each of the four reported quarters (current + three quarters). Because of this booking dynamic, reporting for the current quarter focuses on reserved business, since the group committed business is virtually all on the books. Conversely, reporting for third and fourth quarters in the reported horizon focuses on the group committed demand, since very little transient reserved business is on the books at that early point.

% Booked =Percent of final room nights on the books at a particular number of months prior to arrival

APPENDIX

47



GlossaryADR: Average Daily Rate; ADR is the room revenue/rooms sold (including non-revenue rooms). Revenue and rooms sold is based on

reservations on the books. It does not include remain rooms committed to group blocks, against which no reservation have been

received.

Capacity: The number of rooms in the hotel(s) (total, regardless of out-of-order rooms).

Committed Occupancy %: (Transient rooms reserved + group rooms committed)/capacity

Group Block: The number of rooms held aside in inventory for group blocks.

Discount Transient: The transient market segment containing reservation and stay activity for unaffiliated customers booking discounted

rate products.

Group Room Nights: The number of group rooms sold (actually booked, not just committed) (includes non-revenue rooms).

Market: The aggregate of properties in a particular city.

Occupancy %: (Transient rooms reserved + group rooms reserved)/capacity

Pace: Pace is occupancy added over a four week period.

Pace Variance % versus Last Year: The variance % in recent pace versus the last years commitments of the same period last year.

Position: Also referred to as Variance % versus Last Year. The variance % of a current measure, such as committed occupancy, to the

measure as of the same point in time last year.

Retail Transient: The transient market segment containing reservation and stay activity for customers booking retail/rack, undiscounted

rate products.

APPENDIX

48



GlossaryRevenue: The amount of booked room revenue for a particular stay date.

RevPAR: Revenue Per Available Room; The booked room revenue/capacity.

Room Nights Committed: Transient rooms reserved + group rooms committed

Room Nights: Transient rooms reserved + group rooms reserved

Transient Room Nights: Transient rooms reserved

Variance % versus Last Year: Also referred to as position. The variance % of a current measure, such as committed occupancy,

to the measure as of the same point in time last year.

Weekday: Sunday through Thursday

Weekend: Friday through Saturday

APPENDIX

NORTH AMERICAN HOSPITALITY Issue Number: 106 ... - …...provided to TravelClick by third parties and the report is provided “as is.” TravelClick makes no representation expressed

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