New Orleans
3rd Quarter 2009
= Below/Above Long Run Average
Long
Term
Average
2006
2007
2008
2009F
2010F
2011F
2012F
2013F
Supply
2.4%
-2.0%
11.1%
2.3%
3.7%
3.1%
0.8%
2.5%
3.2%
Demand
2.4%
-11.5%
3.4%
11.2%
-6.5%
2.8%
1.7%
3.8%
3.4%
Occupancy
68.4%
62.3%
58.0%
63.0%
56.8%
56.6%
57.2%
57.9%
58.1%
ADR
2.8%
1.6%
-1.8%
1.6%
-4.1%
4.2%
6.9%
6.4%
4.6%
RevPAR
2.9%
-8.2%
-8.7%
10.5%
-13.6%
3.9%
8.0%
7.8%
4.9%
Source: PKF Hospitality Research – 3rd Quarter 2009 Hotel Horizons® Report, Smith Travel Research
New Orleans – Upper Priced
3rd Quarter 2009
= Below/Above Long Run Average
Long
Term
Average
2006
2007
2008
2009F
2010F
2011F
2012F
2013F
Supply
1.9%
-0.8%
8.9%
1.3%
3.9%
4.0%
0.4%
1.8%
2.5%
Demand
1.9%
-13.3%
4.0%
10.4%
-4.4%
2.3%
0.4%
3.4%
3.0%
Occupancy
69.4%
60.7%
58.0%
63.2%
58.1%
57.2%
57.2%
58.1%
58.4%
ADR
2.7%
-2.3%
2.0%
1.4%
-4.6%
4.5%
9.1%
6.5%
4.3%
RevPAR
2.9%
-14.6%
-2.6%
10.5%
-12.2%
2.9%
9.1%
8.1%
4.8%
Source: PKF Hospitality Research – 3rd Quarter 2009 Hotel Horizons® Report, Smith Travel Research
New Orleans – Lower Priced
3rd Quarter 2009
= Below/Above Long Run Average
Long
Term
Average
2006
2007
2008
2009F
2010F
2011F
2012F
2013F
Supply
3.8%
-4.6%
15.9%
4.5%
3.3%
1.3%
1.6%
3.9%
4.6%
Demand
3.5%
-7.4%
2.1%
13.0%
-10.8%
3.8%
4.7%
4.8%
4.3%
Occupancy
66.2%
65.8%
58.0%
62.7%
54.1%
55.5%
57.1%
57.7%
57.5%
ADR
4.2%
16.7%
-12.8%
3.2%
-5.0%
3.7%
1.9%
6.5%
6.2%
RevPAR
4.2%
13.3%
-23.2%
11.5%
-18.0%
6.3%
5.0%
7.5%
5.9%
Source: PKF Hospitality Research – 3rd Quarter 2009 Hotel Horizons® Report, Smith Travel Research