Hotel Feasibility Study - City of Maricopa Final PDF

Core Distinction Group, LLC
City of Maricopa, AZ
Market Feasibility Study
For more information regarding this report, contact:
Core Distinction Group LLC

(612) 849-9775
coredistinctiongroup@gmail.com
Table of Contents:
Introduction/Objective ...
3
Executive Summary (Conclusions)

4-7
Property Recommendations
Property Type, size, and rate strategy
Property Features, Amenities, and Services
Sleeping Room Configuration
Brand Affiliation
Opening Date
Economic Impact Potential
Maricopa, AZ (Snapshot)
General Market Overview ..
8-10
General Market Location & Characteristics
* Geographic Location (Maps)
Economic Overview
11-22
Population
Effective Buying Income
Workforce/Employment Distribution
Major Employers
Unemployment/Labor Supply/Wage Pressures
Eating and Drinking Places
Transportation Information
Continued Economic Overview Information to follow:
* Retail Leakage Opportunities (5 and 15 Mile Radius)
* Arizona Profile 2010 Census
* Area Development News (2014)
Lodging Demand
23-33
Market Segmentation
Lodging Demand Potential Index
Seasonality of Lodging Demand
Rate Sensitivity
Feeder Markets & Unaccommodated Demand
Events and Attractions
Community Interviews
Benefits and Challenges
Lodging Supply
34-58
Competitive Hotel Properties
Projected Average Daily Room Rate & Positioning
Competitive Property Performance
Arizona Extended Stay Rate Survey - 2014
STR Data (5 Year Trends)
Financial Projections
59-71
Development Costs
Projections Year 1
Projections Years 1-5
Projected Break Even Results
Introduction
The following Comprehensive Market Feasibility Study Report will review the proposed
development of a hotel in Maricopa, AZ.
Core Distinction Group LLC (CDG) has been engaged to provide this Comprehensive Market
Feasibility Study Report of the City of Maricopa, Arizona market area. This Market Study
provides an overview of information concerning the market area and the factors that would affect
the possible development of a hotel facility in this community. This document is written in a
format that highlights key information and offers a preliminary indication of this market's ability to
support the proposed hotel development.
This consultant from Core Distinction Group LLC met with representatives of the community
and the surrounding area to gather information pertinent to the proposed hotel development.
Comprehensive research was performed and reviewed regarding the community's economic
indicators, competitive lodging supply, and lodging demand generators. CDG performed field
research to determine the relationship between the community and proposed facility's lodging
supply competitors and its lodging demand generators. Economic indicators were studied to
determine the stability and future growth potential of the general market. The research was
conducted as a macro and micro market analysis of the Maricopa area and the areas immediately
surrounding the proposed hotel to determine their viability to support the proposed hotel.
This report will present projections for stabilized hotel operation based upon current operating
performance in the market area. Occupancy, Average Daily Room Rate, and Sales Revenue
projections for the hotel were based upon a detailed review of the field research data. Also,
recommendations as to the property type, suggested property size, brand affiliation, services, and
amenities were included. These projections and recommendations were based upon the market
demand research for the proposed facility.
This Market Study report provides statistical support and highlighted narratives to support the
conclusions regarding the market area and its ability to support the proposed hotel. This report
should be acceptable for external investing and/or lending purposes. Core Distinction Group
LLC will be available to answer any questions related to this Market Feasibility Study Report.
01/22/2015
Executive Summary
The Property Type recommended for the proposed hotel is an upscale extended stay hotel. This would
reflect the research performed in the Community Overview Market Study. Also, this type of hotel would
allow the property to be positioned properly at the subject site and would best match the demographics of
the competitive set and future Lodging Demand market in the area. It is anticipated that a new, upscale
extended stay branded hotel would capture displaced Lodging Demand currently staying in markets
surrounding Maricopa, AZ. Additionally, the newness of the hotel should be well received in the
marketplace. Its location will be ideal to serve Maricopa and regional markets. This type of hotel would
also be capable of adjusting rates to best fit the demand in the market and the seasonality of the area.
The property size of this upscale extended stay hotel was researched to be 125-150 guestrooms in this
preliminary Market Feasibility Study. This would position it to be equal to the average room size of the
hotels in the competitive set in Chandler. The size would assist the property in achieving the Occupancy
projections listed in this report. It is not advisable to over-build in this market at this time. Expansion of
the hotel in future years could be considered as the market's Lodging Demand grows. Adjusting the room
count will modify Occupancy Performance.
Rate positioning, as previously stated, rate competition for an upscale extended stay branded hotel in this
market will be present throughout the year. This rate competition will be dictated by the rate structure of
the hotels in the surrounding regional area. With proper rate positioning the hotel should achieve a yield
to the immediate market of 150% (Weekday) and the overall region of 90%-100% which is average and
would assist in mitigating any rate sensitivity. The developed hotel in this market should mirror the rates
of the branded hotels in Chandler or within $10. Negotiated rates with local businesses or demand
generators may be discounted and could drive ADR down dependent on rooms allotted to each account.
In this region, two major accounts identifying extended stay need are present with a minimum potential of
5,000-10,000 guestroom nights annually. That said, negotiated rates with these businesses for 7+, 14+, and
30+ stays will impact average daily rate (ADR) as a whole for the hotel development. Rate strategies for an
extended stay hotel would tier down for each level of extended stay time frame. Example: 7+ rates would
be negotiated from $129; 14+ rates would be negotiated from $119; and 30+ $109 or less. These are only
examples, these rate structures are typically negotiated through national RFPs with each corporation in the
area and fluctuate based on total room nights consumed.
Property features, amenities, and services of the hotel should satisfy the market it is attempting to
attract. Features and amenities required by the brand chosen for the proposed hotel should include:
* Fitness Center recommended to meet the needs of today's traveler
* Guest Laundry Facilities recommended to meet the needs of long term stay guests
* Complimentary Breakfast to meet the needs of today's traveler
* Evening Social or Evening Restaurant Option to meet the demand of the extended stay client in the market
* Japanese and German Extended Stay Clientele indicating need for menu options appealing to these groups
* Meeting Room for 50-100 people
* Extended Stay Guestrooms for long term market demand
* Guestrooms offering full kitchens for long term market demand
* Outdoor Pool and Spa
* Outdoor Recreation Area inclusive of outdoor cooking facilities
* Adequate Parking for both commercial and recreational vehicles due to market demand generators.
* Bar/Lounge/Restaurant
Some special features may be required to attract identified target markets.
01/22/2015
The recommended Sleeping Room Configuration should be compatible with the overall Market
Segmentation of the area. Since the property's demand appears to be corporate long term stay, the
property should offer a selection of King bedded rooms at 40% with a slightly higher percentage of rooms
available for double occupancy for shared guestroom need.
Brand Affiliation should be considered for this hotel to enhance its marketability. The brand should
position the hotel well in this market. It should be competitive with the Market Segments identified for the
hotel. An upscale extended stay hotel brand should be pursued. Potential impact issues should be
addressed with pursuing a brand affiliation although these factors do not seem to be relevant in this
market. A brand should be successful in Maricopa since this will be the only branded hotel in the market.
The Opening Date for the hotel should be considered a priority as demand generated by the corporate
segment in the market is aggressive; delaying opening could result in reduced opportunities to capitalize on
current demand generators. Ideally, opening the hotel in late spring 2015 to capture the maximum revenue
months of extended stay demand indicated.
Economic Impact Potential: There are multiple economic impacts of building and developing a new
hotel in a community. Some direct impact drivers include projected hotel revenue including all rooms'
revenues, meeting room revenue, as well as vending/bar revenue. Additionally, payroll paid out to
employees hired at the hotel. On average, this size property will create 20-25 full time jobs, part-time
employment varies by hotel need and hiring practices. Fiscal impact referring to all taxes collected from
the development and operations of the new hotel. Taxes include all sales taxes collected on hotel revenue,
as well as all payroll related taxes collected from full-time hotel employees and temporary construction
workers. Local governments will also collect new property taxes from the operation of the hotel. Indirect
Impact includes all jobs and income generated by businesses that supply goods and services to the hotel. A
few examples of businesses that will indirectly benefit from the development of a hotel include suppliers of
rooms' related goods (housekeeping supplies, room amenities, etc.), telecommunication vendors (internet,
cable, etc.), utility companies, food and beverage suppliers, and other hotel related vendors.
01/22/2015
Maricopa, AZ (Snapshot)
Maricopa, AZ at a Glance (Pinal County):
Maricopa offers residents and businesses the experience of a small-town atmosphere within a short
distance to two major metropolitan areas. The City of Maricopa became Arizonas 88th municipality when
it incorporated in October 2003. Since that time, it has been Arizonas fastest growing community,
transforming from a quiet town of under 5,000 residents to a bustling city of more than 46,000. The
average household income in Maricopa is $75,000 and is among the highest in the State of Arizona. The
local population is also highly educated with 46% of adults possessing a bachelors or advanced degree, and
89% having at least some college education.
2013 Population Estimate: 46,140 (Arizona Department of Administration)
Growth and Development:
Copper Sky Recreation Complex: The grand opening celebration for the Citys Copper Sky Recreation
Complex was held in March 2014. Comprised of the 52,000 square foot Copper Sky
Multigenerational/Aquatics Center and 98-acre Copper Sky Regional Park, it is the destination for sports,
fitness, recreation and leisure activities in Maricopa. It also hosts regional athletic tournaments and
community events. With a projected 500,000 visitors in its first year, it has become the center of activity in
Maricopa. To take advantage of activity at the complex, 18 acres of highway frontage has been reserved for
future commercial development. The City is currently seeking a development partner.
Central Arizona College Maricopa Campus: Central Arizona College (CAC) opened its new Maricopa
Campus in January 2013. The first phase of the Maricopa Campus includes more than 76,000 gross square
feet. At full build-out, the 217-acre campus is planned to accommodate more than 20,000 students and
have a gross square footage of 720,000 feet.
Banner Health: The Banner Health Center is the first major medical facility in Maricopa and opened in
May 2012. Made possible through a public-private partnership between the City of Maricopa and Banner
Health, the 40,000 square-foot facility provides primary and specialty medical care. Banner has plans to
expand the center and its services as local demand requires.
Dignity Health Arizona: The healthcare provider opened an urgent care center in Maricopa in 2013. The
company also purchased 18.6 acres in Maricopa with long-term plans for a 34,000 square foot, freestanding emergency hospital.
Maricopa Station: This project is located on a 2.5-acre site at the northeast corner of John Wayne
Parkway and Smith-Enke Road and broke ground in October 2014. The plans for Maricopa Station
include a 7,800 square foot multi-tenant shops building and 3,300 square foot drive through restaurant.
Estrella Gin Business Park: The Estrella Gin Business Park site is a 50+ acre, city-owned parcel located
just west of the intersection of Edison Road and Roosevelt Avenue. Planned to be developed through a
public-private partnership, it is the Citys leading priority to spur local economic growth. The goal for the
business park is to provide employment opportunities for local residents by allowing expanding businesses
to remain in the community and facilitating the relocation of industry to Maricopa. Approximately 40 acres
is available for commercial development, anticipated to include a mix of industrial, office and flex space.
The property is currently being marketed for lease and build-to-suit opportunities.
01/22/2015
Additional Demand Generators:

Major employers in the market: Maricopa Unified School District, Walmart, City of Maricopa,
Volkswagen Proving Grounds, Nissan Proving Grounds, Pinal Feeding Company, Southern Dunes Golf
Club, The Duke at Rancho El Dorado Golf Club, USDA Arid-Land Agricultural Research Center,
University of Arizona Maricopa Agricultural Center
USDA Arid-Land Agricultural Research Center: USDA opened its Arid-Land Agricultural Research
Center in Maricopa in 2006. The 97,000 square foot research center houses 22 research scientists and
nearly 40 research and administrative support personnel.
UA Maricopa Agricultural Center: The mission of the more than 40 person staff at the University of
Arizonas Maricopa Agricultural Center is to develop, deliver, and service the best integrated agricultural
technologies for all problems faced by Arizona consumers and producers.
Volkswagen and Nissan operate their North American proving grounds in Maricopa where they put
vehicles to the test under extreme heat and sun conditions. In addition to the year-round staff at the
proving grounds, a large number of engineers and race teams visit throughout the year.
Maricopa is home to two golf courses Southern Dunes Golf Club and The Duke at Rancho El Dorado.
Southern Dunes golf course has been named one of Arizonas top five courses and hosts US Open
qualifying rounds each year. The Duke at Rancho El Dorado has been recognized as one of the top five
intermediate priced courses in Arizona, and the most player friendly course in the Phoenix area.
*For more information on the lodging demand generated by each of these facilities, please see the Community Interviews section .
Development Incentives:
Fast Track Permitting: Recognizing the need for businesses to be able to relocate and expand rapidly and
efficiently, the City offers a Fast Track Permitting Program for qualifying projects. The City is committed
to providing a business-friendly environment and is continuously looking to further streamline and simplify
its governmental permitting process.
Additional Depreciation: To encourage new capital investment, Arizona provides accelerated
depreciation schedules for commercial personal property. Depreciation schedules for most equipment
classes provide for depreciation down to 2.5% of original value, thus virtually eliminating the tax liability.
Development Agreements: These agreements generally give some type of benefit to the developer, such
as a repayment for public infrastructure improvements through sales tax rebates. Arizona municipalities are
restricted to providing only tax incentives consisting of reimbursements for public infrastructure and may
not exceed or otherwise be disproportionate to the capital development costs or jobs created through the
projects. The City of Maricopa has, in the past, entered into development agreements and is willing to
explore this option with any business bringing a high level of economic benefit to the community.
01/22/2015
General Market Overview

General Market Location
The general market for this hotel is Maricopa, Arizona. However, this market is broader than just
Maricopa and includes areas within Pinal County.
Maricopa, AZ is located in northwest Pinal County and is surrounded by several smaller communities
within short driving distance. These cities offer a variety of local support for retail, dining options, and
community. Nearest city with pop. 200,000+: Chandler, AZ (25.0 miles, pop. 246,197). Nearest city
with pop. 400,000+: Mesa, AZ (35.2 miles, pop. 450,310). Nearest city with pop. 1,000,000+: Phoenix,
AZ (34.6 miles, pop. 1,485,751).
01/22/2015
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10
01/22/2015
Economic Overview
This section describes the preliminary general economic conditions observed in this area through various research sources.
Population
With an estimated 46, 140 residents as of 2013, Maricopa is the second most populous incorporated city in
Pinal County and eighteenth most populous in Arizona. Maricopa forms part of the Phoenix metropolitan
area. Pinal County is located in the central part of Arizona. As of the 2010 census, the population was
375,770, making it the third-most populous county in Arizona.
Pinal County 2010 Census Data (Including 2013)
Population, 2013 estimate
389,350
Population, 2010 (April 1) estimates base
375,770
Population, percent change, April 1, 2010 to July 1, 2013
3.60%
Population, 2010
375,770
Persons under 5 years, percent, 2013
6.4%
Persons under 18 years, percent, 2013
25.0%
Persons 65 years and over, percent, 2013
17.0%
Female persons, percent, 2013
47.8%
White alone, percent, 2013 (a)
83.3%
Black or African American alone, percent, 2013 (a)
4.8%
American Indian and Alaska Native alone, percent, 2013 (a)
6.8%
Asian alone, percent, 2013 (a)
1.9%
Native Hawaiian and Other Pacific Islander alone, percent, 2013 (a)
0.4%
Two or More Races, percent, 2013
2.8%
Hispanic or Latino, percent, 2013 (b)
29.0%
White alone, not Hispanic or Latino, percent, 2013
58.2%
Living in same house 1 year & over, percent, 2008-2012
79.6%
Foreign born persons, percent, 2008-2012
10.1%
Language other than English spoken at home, pct. age 5+, 2008-2012
22.6%
High school graduate or higher, percent of persons age 25+, 2008-2012
84.2%
Bachelor's degree or higher, percent of persons age 25+, 2008-2012
18.3%
Mean travel time to work (minutes), workers age 16+, 2008-2012
31.3
Source: US Census Bureau
11
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Effective Buying Income

Households by Income
Median Household Income
Average Household Income
2014
$55,684
$67,097
Est. 2019
$63,612
$76,603
<$15,000
$15,000-$24,999
$25,000-$34,999
$35,000-$49,999
$50,000-$74,999
$75,000-$99,999
$100,000-$149,999
$150,000-$199,999
$200,000+
9.1%
10.5%
8.5%
12.8%
27.4%
16.5%
10.2%
3.5%
1.4%
7.8%
7.0%
6.4%
11.8%
26.0%
19.9%
14.1%
4.8%
2.1%
Source: US Census Bureau, Census 2010. Esri Forecasts for 2014/2019
12
01/22/2015
Workforce/Employment Distribution
Employment leaders within Maricopa area include: Public Administration (38.7%); Arts, Entertainment,
and Recreation (8.2%); Retail Trade (7.9%); Administration/Support/Waste Management and Remediation
(6.9%); and Professional/Scientific and Tech Services (5.6%)
Data for all businesses in area of Maricopa within:
5 Mile
Total Employees:
9,236
Total Residential Population:
44,398
by NAICS Codes
Percent
Public Administration
38.7%
Arts, Entertainment & Recreation
8.2%
Retail Trade
7.9%
Administrative & Support & Waste Management & Remediation
6.9%
Professional, Scientific & Tech Services
5.6%
Educational Services
5.2%
Accommodation & Food Services
5.1%
Food Services & Drinking Places
5.0%
Construction
3.3%
Health Care & Social Assistance
3.1%
Other Services (except Public Administration)
3.1%
Manufacturing
2.9%
General Merchandise Stores
2.7%
Food & Beverage Stores
2.2%
Finance & Insurance
2.2%
Transportation & Warehousing
1.9%
Real Estate, Rental & Leasing
1.9%
Agriculture, Forestry, Fishing & Hunting
1.5%
Wholesale Trade
1.4%
Central Bank/Credit Intermediation & Related Activities
1.0%
Securities, Commodity Contracts & Other Financial
1.0%
Source: 2014 Dun & Bradstreet, Inc. Esri Total Residential Population forecasts for 2014.
13
01/22/2015
Maricopa, AZ Major Employers

Company Name
Employees (FT)
Harrah's AK-Chin Casino Resort
760
Maricopa Unified School District
650
Walmart
300
Maricopa City Office
283
Fry's Food Store
200
Volkswagen Proving Grounds
200
Ak-Chin Farms
89
Basha's
85
Legacy Traditional School
76
Pinal Feeding Co Inc.
75
Sequoia Pathway Academy
71
USDA Arid-Land Agricultural Research Center*
69
Southern Dunes Golf Club*
65
Arizona Castings Inc.*
58
Electrical District 3*
57
Univ. of Arizona Maricopa Agricultural Center*
48
Duke at Rancho El Dorado
47
Scott's Miracle Gro
39
Ace Hardware
36
Banner Health Center
34
Note: Areas marked with an asterisk (*) are outside of the City limits but within the City's planning area
Unemployment
Since 2005 the unemployment rate in Maricopa, Arizona has ranged from 4.0% in May 2007 to 14.8% in
July 2009. The current unemployment rate for Maricopa is 7.0% in August 2014.
Labor Supply
The labor supply is felt to be above average to support a hotel development. The hotel could draw
employment from the broad geographic area of Pinal County or entice commuting community members to
stay closer to home for work rather than commuting to cities outside Maricopa, AZ.
Wage Pressures
Wage pressures were not reported to be a concern in attracting Service employees for a hotel. Wage
competition was indicated as average.
14
01/22/2015
Eating and Drinking Places

Alibertos
Arbys
Barros Pizza
Bead & Berry Coffee House
Brooklyn Boys Italian
Carls Jr.
Chipotle (coming soon)
Cilantros Mexican Cocina
Dominos Pizza
Firehouse Subs
Great Wall
Headquarters Caf
Helens Kitchen
Honeycutt Coffee Company
Jack in the Box
KFC
Little Caesars
Long John Silvers
McDonalds
Native New Yorker
Oshays
Panda Express
Papa Johns Pizza
Papa Murphys Pizza
Peascos Mexican Restaurant

Pizza Hut
Plaza Bonita Mexican Restaurant
Say Sushi
Sonic Drive-In
Starbucks Coffee (coming soon)
Subway
Sunrise Caf
Taco Bell
Tacos N More
Yogurt Jungle
Major Highways Pinal County

Interstate 8
State Route 79
State Route 287
Interstate 10
State Route 84
State Route 347
U.S. Route 60
State Route 87
State Route 387
State Route 77
State Route 177
State Route 587
Air Transportation
The nearest major airport is Phoenix Sky Harbor International Airport (PHX / KPHX). This airport has
international and domestic flights from Phoenix, Arizona and is 34 miles from the center of Maricopa, AZ.
Another major airport is Phoenix-Mesa Gateway Airport (AZA / KIWA), which has domestic flights from
Mesa, Arizona and is 36 miles from Maricopa, AZ.
Amtrak - Maricopa is one of 17 Amtrak stations in Arizona. The Maricopa station, serviced by the Sunset
Limited and Texas Eagle routes, is the closest train station to Phoenix (30 miles south). The Station Building
(with waiting room) is located at 19427 North John Wayne Parkway, Maricopa, AZ 85139.
Continued Economic Overview Information to follow:

* Retail Leakage Opportunities (5 and 15 Mile Radius)
* Arizona Profile 2010 Census
* Area Development News (2014)
15
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Retail Market Potential

5 and 15 Mile Radius of Maricopa, AZ
Definition of 'Leakage' A situation in which capital, or income, exits an economy, or system, rather than
remains within it. In economics, leakage refers to outflow from a circular flow of income model. In a two
sector model, all individual income is sent back to employers when goods and services are purchased, and
back to employees through wages and dividends. Leakage occurs when income is taken out through taxes,
savings and imports. In retail, leakage refers to consumers who spend money outside of the local market.
Leakage may also refer to the release of private information prior to it being released to the public.
Data Note: Supply (retail sales) estimates sales to consumers by establishments. Sales to businesses are
excluded. Demand (retail potential) estimates the expected amount spent by consumers at retail
establishments. Supply and demand estimates are in current dollars. The Leakage/Surplus Factor presents a
snapshot of retail opportunity. This is a measure of the relationship between supply and demand that
ranges from +100 (total leakage) to -100 (total surplus). A positive value represents 'leakage' of retail
opportunity outside the trade area. A negative value represents a surplus of retail sales, a market where
customers are drawn in from outside the trade area. The Retail Gap represents the difference between
Retail Potential and Retail Sales.
Source: Esri and Dun & Bradstreet 2013
16
01/22/2015
Summary Demographics (5 Mile Radius)

2013 Population
2013 Households
2013 Median Disposable Income
2013 Per Capita Income
Industry Summary
Total Retail Trade and Food & Drink
Total Retail Trade
Total Food & Drink
Industry Group
Motor Vehicle & Parts Dealers
Automobile Dealers
Other General Merchandise Stores
Gasoline Stations
Grocery Stores
Department Stores Excluding Leased Depts.
Health & Personal Care Stores
Clothing & Clothing Accessories Stores
Nonstore Retailers
Electronic Shopping & Mail-Order Houses
Limited-Service Eating Places
Full-Service Restaurants
Clothing Stores
Miscellaneous Store Retailers
Electronics & Appliance Stores
Bldg Materials, Garden Equip. & Supply Stores
Bldg Material & Supplies Dealers
Sporting Goods, Hobby, Book & Music Stores
Sporting Goods/Hobby/Musical Instr Stores
Furniture & Home Furnishings Stores
Other Miscellaneous Store Retailers
Office Supplies, Stationery & Gift Stores
Home Furnishings Stores
Shoe Stores
Other Motor Vehicle Dealers
Auto Parts, Accessories & Tire Stores
Jewelry, Luggage & Leather Goods Stores
Furniture Stores
Direct Selling Establishments
Used Merchandise Stores
Special Food Services
Beer, Wine & Liquor Stores
Book, Periodical & Music Stores
Specialty Food Stores
Lawn & Garden Equip & Supply Stores
Florists
Drinking Places - Alcoholic Beverages
Vending Machine Operators
46,674
15,375
$49,849
$23,140
Demand
(Retail Potential)
Supply
(Retail Sales)
Retail Gap
Leakage/Surplus
Factor
$331,687,227
$299,140,214
$32,547,013
Demand
(Retail Potential)
$52,974,307
$47,339,025
$5,635,282
Supply
(Retail Sales)
$278,712,920
$251,801,189
$26,911,731
Retail Gap
72.5
72.7
70.5
Leakage/Surplus
Factor
$57,965,704
$58,343,762
$50,139,402
$37,867,706
$30,738,234
$32,547,013
$50,720,069
$48,438,995
$20,097,998
$20,062,206
$17,559,402
$21,485,622
$18,080,954
$15,258,202
$15,115,535
$12,479,312
$10,054,612
$9,081,341
$9,260,770
$8,539,905
$7,115,982
$5,731,823
$6,752,510
$5,168,641
$3,033,231
$2,700,510
$2,508,279
$3,077,822
$5,126,538
$2,571,811
$4,051,999
$2,338,375
$1,428,857
$1,213,222
$1,158,732
$1,384,159
$1,122,341
$720,866
$423,883
$960,055
$1,066,294
$76,763
$4,391,235
$1,140,603
$0
$1,216,049
$5,635,282
$24,142,130
$23,802,715
$76,763
$1,928,480
$1,935,204
$6,067,766
$4,112,374
$1,560,714
$3,507,028
$1,769,044
$1,519,881
$1,307,306
$1,826,215
$1,826,215
$931,163
$554,086
$1,996,832
$1,148,367
$296,058
$99,741
$0
$600,266
$2,650,366
$166,160
$1,897,091
$927,152
$75,456
$0
$0
$377,077
$339,415
$0
$0
$567,540
$1,028,240
$57,888,941
$53,952,527
$48,998,799
$37,867,706
$29,522,185
$26,911,731
$26,577,939
$24,636,280
$20,021,235
$18,133,726
$15,624,198
$15,417,856
$13,968,580
$13,697,488
$11,608,507
$10,710,268
$8,534,731
$7,774,035
$7,434,555
$6,713,690
$6,184,819
$5,177,737
$4,755,678
$4,020,274
$2,737,173
$2,600,769
$2,508,279
$2,477,556
$2,476,172
$2,405,651
$2,154,908
$1,411,223
$1,353,401
$1,213,222
$1,158,732
$1,007,082
$782,926
$720,866
$423,883
$392,515
$38,054
99.7
86.0
95.6
100.0
92.4
70.5
35.5
34.1
99.2
82.5
80.1
56.0
62.9
81.4
62.3
75.2
73.7
74.8
67.1
64.8
76.9
82.4
54.4
63.6
82.2
92.9
100.0
67
31.8
87.9
36.2
43.2
90.0
100.0
100.0
57.2
53.6
100.0
100.0
25.7
1.8
17
01/22/2015
Summary Demographics (15 Mile Radius)

2013 Population
2013 Households
2013 Median Disposable Income
2013 Per Capita Income
Industry Summary
Total Retail Trade and Food & Drink
Total Retail Trade
Total Food & Drink
Industry Group
Motor Vehicle & Parts Dealers
Automobile Dealers
Other General Merchandise Stores
Grocery Stores
Department Stores Excluding Leased Depts.
Health & Personal Care Stores
Nonstore Retailers
Electronic Shopping & Mail-Order Houses
Clothing & Clothing Accessories Stores
Full-Service Restaurants
Gasoline Stations
Clothing Stores
Miscellaneous Store Retailers
Electronics & Appliance Stores
Bldg Materials, Garden Equip. & Supply Stores
Bldg Material & Supplies Dealers
Sporting Goods, Hobby, Book & Music Stores
Furniture & Home Furnishings Stores
Sporting Goods/Hobby/Musical Instr Stores
Other Miscellaneous Store Retailers
Auto Parts, Accessories & Tire Stores
Office Supplies, Stationery & Gift Stores
Furniture Stores
Home Furnishings Stores
Limited-Service Eating Places
Shoe Stores
Jewelry, Luggage & Leather Goods Stores
Direct Selling Establishments
Used Merchandise Stores
Book, Periodical & Music Stores
Special Food Services
Lawn & Garden Equip & Supply Stores
Drinking Places - Alcoholic Beverages
Florists
Vending Machine Operators
Beer, Wine & Liquor Stores
Other Motor Vehicle Dealers
Specialty Food Stores
85,307
31,135
$43,735
$24,215
Demand
(Retail Potential)
Supply
(Retail Sales)
Retail Gap
Leakage/Surplus
Factor
$725,763,106
$655,594,950
$70,168,155
Demand
(Retail Potential)
$188,429,778
$152,202,852
$36,226,927
Supply
(Retail Sales)
$537,333,328
$503,392,098
$33,941,228
Retail Gap
58.8
62.3
31.9
Leakage/Surplus
Factor
$125,156,628
$126,567,874
$108,352,653
$82,152,849
$110,613,161
$105,629,676
$43,003,778
$46,148,577
$50,610,171
$42,533,816
$70,168,155
$37,433,882
$32,674,353
$65,970,543
$26,488,471
$22,377,110
$19,785,012
$21,574,330
$19,844,930
$14,761,387
$14,596,276
$11,938,254
$11,589,296
$11,343,216
$6,728,353
$8,613,677
$5,982,599
$33,062,355
$5,277,907
$5,667,504
$5,759,469
$3,020,137
$2,823,132
$2,417,620
$1,729,399
$2,013,827
$1,039,324
$2,316,886
$2,544,219
$6,872,005
$2,439,266
$88,135
$18,381,778
$7,746,839
$0
$56,522,115
$52,341,488
$88,135
$4,691,331
$11,236,213
$8,192,033
$36,226,927
$6,114,407
$7,533,456
$40,941,405
$5,154,327
$3,442,191
$1,611,153
$3,407,708
$3,407,708
$2,751,043
$3,015,372
$2,113,325
$2,815,990
$4,336,649
$523,900
$2,755,061
$260,311
$27,757,323
$0
$960,080
$1,525,659
$102,301
$637,719
$333,805
$0
$602,342
$0
$1,518,522
$1,823,242
$6,298,290
$2,357,384
$125,068,493
$108,186,096
$100,605,814
$82,152,849
$54,091,046
$53,288,188
$42,915,643
$41,457,246
$39,373,958
$34,341,783
$33,941,228
$31,319,475
$25,140,897
$25,029,138
$21,334,144
$18,934,919
$18,173,859
$18,166,622
$16,437,222
$12,010,344
$11,580,904
$9,824,929
$8,773,306
$7,006,567
$6,204,453
$5,858,616
$5,722,288
$5,305,032
$5,277,907
$4,707,424
$4,233,810
$2,917,836
$2,185,413
$2,083,815
$1,729,399
$1,411,485
$1,039,324
$798,364
$720,977
$573,715
$81,882
99.9
74.6
86.7
100.0
32.4
33.7
99.6
81.5
63.7
67.7
31.9
71.9
62.5
23.4
67.4
73.3
84.9
72.7
70.7
68.6
65.8
69.9
60.9
44.7
85.6
51.5
91.7
8.7
100.0
71.0
58.1
93.4
63.1
75.7
100.0
54.0
100.0
20.8
16.5
4
1.7
18
01/22/2015
19
01/22/2015
City Issues RSOQ Seeking Development Partner for

Copper Sky Commercial Site
The City of Maricopa has issued a Request for Statement of Qualifications (RSOQ) seeking a
qualified development team that has the experience, financial strength and capacity to transform its
Copper Sky Commercial Site into a high-quality mixed-use destination that complements the
Copper Sky Recreation Complex and delivers significant social and economic impact to the
community. The approximately 18-acre city-owned site offers great visibility and more than 1,100
feet of frontage on SR 347, Maricopa's main retail corridor and north-south connection to I-10 and
I-8. The adjacent 120-acre Copper Sky Recreation Complex opened in March 2014 and is a yearround destination for sports, fitness, recreation, and leisure activities. With a projected 500,000
visitors in its first year, it has quickly become the center of activity in Maricopa.
Source: City of Maricopa November 2014
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01/22/2015
Maricopa Station Development Breaks Ground

Vintage Partners and the City of Maricopa hosted a groundbreaking celebration for Maricopa
Station this morning. Located at the northeast corner of John Wayne Parkway and Smith-Enke
Road, plans for this exciting new project include a 7,800 square foot multi-tenant shops buildings
and 3,300 square foot drive through restaurant.
Walter Crutchfield, Partner at Vintage Partners, kicked off the event by acknowledging the
excitement within the community as vehicles drove by honking. Monty Ortman, longtime
developer and fellow Partner at Vintage Partners, reminisced about his earliest experiences
developing land in Maricopa more than 29 years ago and said he looks forward to another 29
successful years. Mayor Christian Price spoke about the complexity of commercial development
and the many partnerships that must come together to get a project off the ground. Vintage
Partners and City of Maricopa representatives then gathered with shovels and officially broke
ground on the project.
Source: City of Maricopa October 2014
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01/22/2015
Maricopa Works to Attract Retailers and Developers

at ICSC 2014 RECon
Recently, a group of City of Maricopa representatives consisting of Vice Mayor Edward Farrell,
Councilmember Marvin L. Brown, City Manager Gregory Rose and Economic Development
Specialist Denyse Airheart traveled to the International Council of Shopping Centers (ICSC) 2014
RECon convention in Las Vegas. RECon is the worlds largest retail real estate industry event,
attracting more than 33,000 retailers, developers, brokers and exhibitors.
The Citys participation at RECon is a key component of its strategy to aggressively target and
recruit businesses. At the convention, City leadership and staff worked to sell Maricopa as a
destination for retailers to establish or expand their operations. The group met with more than
thirty retailers and real estate developers to discuss a range of opportunities, from establishing a
presence in Maricopa to identifying the best locations within the city.
Retailers and developers are increasingly looking at Maricopa as a location for business, and we
must actively sell the benefits of locating in Maricopa, said Vice Mayor Farrell. Investors seek
population growth, population within a trade area, median household income and rooftop growth
numbers when making a decision to enter a new market.
The conference allows us to tout the Maricopa story and educate nationally branded retailers on
the citys location, residents and recent projects, said City Manager Rose. Within the past few
years, Maricopa has seen the arrival of Banner Health, Dignity Health, Central Arizona Colleges
Maricopa Campus, the new City Hall building and City Center complex, and most recently the
Copper Sky Recreation Complex.
Councilmember Brown believes Maricopa is poised to enter a new era of growth that will have a
profound impact on the citys future. Maricopa is on the verge of many exciting changes that will
enhance quality of life, draw new residents, and attract investment from retailers and developers
looking to take part in our citys growth.
For questions, contact the City of Maricopa Economic Development Department at (520) 316-6990.
Source: City of Maricopa May 2014
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01/22/2015
Lodging Demand
This section of the report is a brief overview of the Lodging Demand highlights identified in this market.
Market Segmentation Projection for Maricopa, AZ are as follows:

Negotiated
20%
Negotiated ESSOC
50%
Transient Leisure
10%
Transient Group
20%
TOTAL
100%
Source: Core Distinction Group LLC
Identifying which segments have the potential to produce 80 percent of a hotels

revenue is imperative to success of developing these segments to ensure your hotel is
achieving fair market share. This starts with understanding the market in which any
given hotel operates. A fundamental understanding of the competitive environment,
key economic drivers and historical trends is essential to understanding which market
segments are relevant. The two main market segments are Transient and Group.
However, these can be further segmented depending on each hotels individual
trading area and feeder markets. Examples of these are as follow: Transient
Segments: Rack, Corporate, Government and Seniors etc. Group Segments:
Corporate, Association and Sports etc. At this time, the proposed hotel should
experience the same Market Segmentation as the overall market. The proposed hotel
in Maricopa would be the newest hotel in the immediate regional area. The proposed
hotel would be positioned to serve a wide variety of Lodging Demand. Also, as an
upscale extended stay hotel, it would be able to flex rates and services to
accommodate a full range of Lodging Demand identified for this market.
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01/22/2015
Market Segmentation Profiles

Demand Potential
Maricopa, AZ
Corporate/Commercial Markets
Agriculture
Manufacturing
Construction
Transportation
Retail/Commercial
Professional Services
Insurance
Government
Health Care
Education
Distribution
Utilities
Real Estate
Entertainment
Vendors & Suppliers to Local Market
Meetings and Seminars
Corporate
Association
Training Groups
Company Parties, Awards Dinners, and Celebrations
Inventory and Auditing Companies
Social/Leisure Markets
Highway Travelers
Area Recreation
Outdoor Recreation
Area Sites, Entertainment, and General Tourism
Events & Festivals
Regional Shopping
Relocation-Real Estate
Distressed Social-Interim Housing
SMERF (Social, Military, Education, Religious, and Fraternal)
Association Groups
Amateur/Youth Sports
T = Transient
E = Extended
G = Group
Below, Average, Above
T, E, G
T
T, E
T
T
T
T, E
T, E, G
T, E, G
T
T
T
T
T, G, E
T, E
T, G, E
T, G
T, G
E, G
T
T, E, G
Average
Average
Average
Average
Above (Growing)
Above
Average
Above
Average
Above
Average
Average
Average
Above
Above
Above
Above
Average
Above
Average
Average
T
T
T
T
T
T
T, E
T, E
G
G
G
Above
Average
Average
Above
Average
Below
Average
Average
Average (Growing)
Average
Average
As described in the above chart, the overall market potential appears to be above
average and growing. Additionally, the development of a hotel in the city has the
potential to encourage new areas of growth in the market.
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01/22/2015
Seasonality of Lodging Demand

A Seasonality of Lodging Demand analysis was performed. This demand analysis is based on
general observations of the surrounding market area and the overall Arizona market area.
1st Quarter (Jan-Mar)
January
February
March
Lodging Rooms Available

Lodging Occupancy %
Total Occ. Rooms
Average Daily Rate
Total Revenue
3,875
65%
2,519
119.00
3,500
80%
2,800
129.00
3,875
85%
3,294
129.00
$299,731
$361,200
$424,894
2nd Quarter (Apr-June)
April
May
June

Lodging Occupancy %
Total Occ. Rooms
Average Daily Rate
Total Revenue
3,750
70%
2,625
119.00
3,875
65%
2,519
109.00
3,750
60%
2,250
109.00
$312,375
$274,544
$245,250
3rd Quarter (July-Sept)
July
August
September

Lodging Occupancy %
Total Occ. Rooms
Average Daily Rate
Total Revenue
3,875
55%
2,131
99.00
3,875
55%
2,131
99.00
3,750
60%
2,250
109.00
$210,994
$210,994
$245,250
4th Quarter (Oct-Dec)
October

Lodging Occupancy %
Total Occ. Rooms
Average Daily Rate
Total Revenue
3,875
65%
2,519
109.00
3,750
70%
2,625
109.00
3,875
60%
2,325
109.00
$274,544
$286,125
$253,425
November December
TOTAL
45,625
65.7%
29,988
$93.65
3,399,325
It should be noted that the hotels used in this seasonality analysis are all from outside
of Maricopa, in the neighboring community of Chandler. The market's Seasonality of
Lodging Demand patterns appear above average. Traditional higher occupancy
nights during the week are Tuesdays and Wednesdays. On weekends, occupancy is
traditionally higher on Saturdays, yet within this comp set Fridays and Saturdays are
fairly even for demand. The weakest nightly occupancy is on Sundays. This pattern
should be representative of what we could expect at this location in Maricopa as well.
Capitalizing on extended stay 7+ business will increase overall weekend results.
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01/22/2015
Rate Sensitivity
This market should have low to average rate sensitivity. Traditionally, the social/leisure market will
be more rate sensitive than the corporate/commercial markets. This pattern should be represented
in the Maricopa market. There may be additional ADR (Average Daily Rate) opportunities as well
during peak demand periods when festivals and city events bring more travelers to the market
creating demand to force ADRs higher than average. Traditionally, social/leisure/group rates will
be discounted on weekends with special rates and packages for 10 or more guestrooms utilized. At
this location a group may also be considered as 5 or more guestrooms utilized for a period of time.
Feeder Markets
The Feeder Markets for this hotel will be regional and local. Social/Leisure feeder markets tend to
be generated from the region. Typical Corporate/Commercial market segments tend to be more
national or international yet this market may not see this type of business in the immediate future.
Unaccommodated Lodging Demand
Unaccommodated Lodging Demand may be occurring in this market primarily due to the demand in
the market versus lack of lodging available in the community. A secondary definition of
Unaccommodated Lodging Demand is demand by consumers desiring to stay in other markets but
having to stay in Maricopa or other surrounding markets due to lack of Lodging Supply in the
primary market desired. This type of Unaccommodated Lodging Demand does not currently appear
to occur in Maricopa, primarily due to the number of lodging facilities in the Phoenix Metro Area.
Yet, some of the smaller communities surrounding Maricopa could affect this Lodging Demand
potential as they require lodging accommodation for their visitors as well.
Events and Attractions

(The events/attractions listed have the potential to be demand generators for leisure transient business)
Maricopa Events (2014)

January:
February:
March:
April:
May:
June:
July:
August:
September:
Salsa Festival - March 29, 2014

Fishing Derby - April 5, 2014; Maricopa Easter Egg Hunt - April 19, 2014; Easter Brunch
and Bowl - April 20, 2014; Concert in the Park - April 25, 2014
Movies in the Park - May 3, 17 & 31, 2014
Movies in the Park - June 14, 2014
Great American BBQ - July 4, 2014
Concerts in the Park - September 5, 12, 19 & 26, 2014
October:
Stagecoach Days October 11 thru 26, 2014; 2nd Annual Mud Run - October 18, 2104;
MHS Hispanic Heritage Night - October 21, 2014; 4th Annual Historical Society Golf
Tournament - October 25, 2014; Mysterious Mansion Mayhem - October 29, 2014
November:
Art on the Veranda - November 8, 2014
December:
Merry Copa Holiday Festival - December 6, 2014; Holiday Homes on Parade - December 8
thru 18, 2014
Misc.:
2nd Saturday Market - Second Saturday of Every Month - October thru May
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01/22/2015
The Copper Sky Regional Park encompasses 98 acres, offering endless opportunities for fitness,
fun and leisure. The park includes: A five-acre fishing lake stocked with bass, rainbow trout, catfish,
bluegill and white amur; a special event amphitheater surrounded by 9 acres of lawn; two interactive
playgrounds; six shaded ramadas with BBQ grills and picnic tables, plus one 5000 sq. ft. group
ramada; A dog park with separate areas for active and timid dogs; eight multi-purpose sports fields
(four are lighted fields); three lighted softball fields; one full-size lighted baseball field; two enclosed
batting cages with pitching mounds; two lighted tennis courts; a lighted skate plaza; two lighted
basketball courts; two lighted sand volleyball courts; two regulation horseshoe pits. More detail on
Copper Sky to follow.
Sprawling across more than 320 acres, Ak-Chin Southern Dunes Golf Club provides a welcoming,
laid-back ambiance; a place where the world melts away and the game of golf becomes the focus.
Amid uninhibited, 360-degree views of Arizonas magnificent desert expanses this world-class,
Troon Golf-managed club offers impeccable course conditioning, unmatched playability and
superlative customer service, thus ensuring an unparalleled round of sensational Southwestern golf.
The Duke at Rancho El Dorado Named one of the top 20 courses to play in Arizona, The Duke
is a superb choice. With its inviting fairways, meticulous maintenance and exquisite cuisine, The
Duke is a model of perfection for the golfer who enjoys Resort golf and pristine accommodations.
Pacana Park is the City's first public park. Pacana Park spans more than 22 acres of land with a
pristine 2.25 acre lake that is home to various fish including catfish and blue gills.
Arizona Soaring rides are given over the beautiful Sierra Estrella Mountains where passengers can
enjoy views of the undisturbed and natural desert environment. This area is also home to many
hawks and other soaring birds so it is an excellent opportunity to see them in their true element. All
of our flight staff are FAA certified flight instructors with many years of experience. Impromptu
hands-on instruction is possible for those with flying aspirations. Your ride can be as thrilling or as
relaxing as you like and for the truly adventurous full-on aerobatic rides are also available.
The Sonoran Desert National Monument contains more than 487,000 acres of Sonoran Desert
landscape. The Sonoran Desert is the most biologically diverse of the North American deserts, and
the monument exemplifies this desert setting. The most striking aspect of the plant community
within the monument is the extensive saguaro cactus forest. The monument contains three distinct
mountain ranges, the Maricopa, Sand Tank and Table Top Mountains, as well as the Booth and
White Hills, all separated by wide valleys. The monument is also home to three congressionally
designated wilderness areas, many significant archaeological and historic sites, and remnants of
several important historic trails.
The Him-Dak Eco Museum was established to collect, analyze, preserve, protect, promote and
teach various aspects of the Ak-Chin heritage, culture and communication between generations.
Tribal crafts, exhibits and photographs of the Ak-Chin people are displayed. The Museum is
distinguished from a traditional museum, in that land and territory replace the museum building, and
the residents of the area take on the role of curator and public. This museum acts as an exhibit and
storage area that reflects both prehistoric and local items from families that are housed here.
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01/22/2015
Community Interviews
In speaking with the Interim Resident Director at the University of Arizona Maricopa
Agricultural Center, he indicated they have groups in for meetings approximately 50-150 per year.
Currently they utilize lodging in Chandler due to proximity to Maricopa as well as negotiated rates.
When asked if Maricopa would benefit from a newer branded hotel he indicated support as the city
currently does not have any lodging options and the casino hotel is often filled. Amenities
recommended included breakfast, pool, exercise facility, and a dining option.
In speaking with the Center Director at USDA Arid-Land Agriculture Research Center, he
indicated they occasionally have overnight accommodation need approximately 50-100 per year for
meetings. Currently they either utilize the Harrah's Ak Chin Casino Resort or hotels in South
Phoenix/Chandler. When asked if Maricopa would benefit from a newer branded hotel he indicated
support as the city is large enough to sustain a hotel, they have limited apartment space in the
community, and a Wal-Mart. Amenities recommended included breakfast and meeting space possibly a
Holiday Inn Express or LaQuinta type product would fit well.
In speaking with the Chief Operating Officer of the Maricopa Chamber of Commerce, she
indicated people come to their offices for information about the community, wedding business, and
casino overflow. Currently she recommends the local B&B, Harrah's Ak-Chin Casino Resort Hotel, and
even hotels in Chandler and Casa Grande. When asked if Maricopa would benefit from a newer
branded hotel she indicated support as it would benefit the entire community. Amenities recommended
included extended stay guestrooms and meeting space for 15-125 people. Additional demand indicated
included college as they do not currently have a dorm for students, Harrah's Casino overflow, New
Recreation Center, Dunes Golf Course, and local area events/festivals.
In speaking with a Council Member at the City of Maricopa, he indicated from time to time they
have auditors in as well as business development groups coming into the city needing accommodations.
Currently they utilize the Harrah's Ak-Chin Casino Resort Hotel or extended stay hotels in Chandler.
When asked if Maricopa would benefit from a newer branded hotel he indicated support as the only
hotel nearby is Harrah's Ak-Chin Casino Resort, no hotels in Maricopa proper. Amenities
recommended included an exercise room and restaurant. Additional demand generators indicated
included New Recreation Center and Entertainment Complex.
In speaking with the General Manager of The Duke at Rancho El Dorado Golf Club, he indicated
they have overnight accommodation requests during their season from December through April
specifically as their facility is a destination golf course. Currently he recommends the nearest Harrah's
Ak-Chin Casino Resort Hotel or hotels in Chandler. When asked if he felt Maricopa would benefit from
a newer branded hotel he was in support as there are currently no hotels in the city. Amenities
recommended included pool, fitness center, upscale guestrooms, and extended stay suites. Size
recommendation indicated from 100-250 guestrooms. Additionally, he indicated an opportunity for the
golf course to offer packages in conjunction with a new hotel to drive business.
In speaking with a Partner and Senior Project Manager at the Boyer Company, he indicated they
have project managers coming in monthly approximately two a month who stay in Phoenix close to the
airport at Marriott hotels. When asked if he felt Maricopa would benefit from a newer branded hotel he
indicated support as development would draw more people to the community in general. Amenities
recommended included pool and breakfast area, something similar to a Fairfield Inn.
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01/22/2015
In speaking with the Assistant Dean of Workforce Development at Central Arizona College, she
did not indicate specific need for hotel accommodations at this time. However, when asked if Maricopa
would benefit from a newer branded hotel she indicated support as the city does not currently have a
hotel. Amenities recommended included extended stay guestrooms, pool, and meeting space.
Additionally she offered her services in the hiring process as she teaches hotel revenue management and
may have some sources for workers at a new hotel in town.
In speaking with the Chief Financial Officer at Central Arizona College, he indicated they have 5
campuses, their main campus in Coolidge does have a dorm the others do not and may have need for
students or their families from time to time. When asked if Maricopa would benefit from a newer
branded hotel he indicated support as the only nearby hotel is Harrah's Ak-Chin Casino Resort and they
are often full. Amenities recommended included extended stay lodging with monthly or weekly rates
offered. Additionally, he indicated the college has purchased 208 acres of land for expansion and is
utilizing 45 acres for phase one.
In speaking with the Senior Advisor at the Maricopa Economic Development Alliance, she
indicated they have 6-10 board members per month in need of overnight accommodations as well as
residents and winter visitors who may have lodging needs. Currently they recommend hotels in
Chandler, Ahwatukee, and Tempe, as that is where a majority of the hotels are located. When asked if
Maricopa would benefit from a newer branded hotel she indicated strong support as this is a critical
piece for their growing community. Amenities recommended business center, fitness center, and
breakfast. She indicated a Residence Inn may be a great hotel for the area.
In speaking with a Council Member at the City of Maricopa, she indicated they have lobbyists or
site inspectors coming in 6-10 times per year that have overnight accommodation need. Currently they
stay at the Harrah's Ak-Chin Casino Resort Hotel due to proximity to their offices. When asked if
Maricopa would benefit from a newer branded hotel she indicated strong support as there is a great need
for lodging in the area due to local businesses, families, the Multi-Gen Center and Regional Park, as well
as the Amtrak Train Route through town. Amenities recommended included fitness center, restaurant,
and meeting space for up to 300 people.
In speaking with the General Manager at Volkswagen Arizona Proving Grounds, he indicated
they have a tremendous need for lodging from their facility. He indicated they have support and
engineers coming in from mid-April through October approximately 2,000 people looking for lodging
who typically stay from a few days up to 30+; the number of rooms needed between November through
March is less potentially 500 or less during that timeframe. Additionally, he indicated they are currently
undergoing an expansion at their facility adding larger workshops and office space. This expansion is
forecasting a 20%-30% growth at their facility, which may indicate more room nights needed. Currently
they stay at the Sheraton Wild Horse Pass Resort and Spa or the Chandler area in general. They have
stayed in Casa Grande but many of their clients prefer staying in the Phoenix Metro area. Currently they
have negotiated pricing at the Sheraton which also offers a hospitality room for socializing, large
refrigerators, and grilling available for outdoor cooking. They approached the local Harrah's Ak-Chin
Casino Resort for a negotiated rate but were turned down due to needing rooms for the gamblers to stay
in. When asked if he felt Maricopa would benefit from a newer branded hotel there was strong support
as the population of the city is growing, there may be a need for other families and events in town and
there is a strong need from their facilities. Amenities recommended included dinner options, pool,
breakfast, exercise facilities, outdoor grilling, social space, and extended stay suites with full kitchens.
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01/22/2015
In speaking with the Vice Mayor at the City of Maricopa, he did not indicate specific room nights
from the city. However, when asked if he felt Maricopa would benefit from a newer branded hotel, he
felt strongly that two hotels would be of most benefit as the closest hotel Harrah's Ak-Chin Casino
Resort is often booked sending clients into South Phoenix or Chandler for overnight accommodation.
Amenities recommended included a hotel that offers breakfast, lunch, and dinner as well as space for
meetings or conference space. Brands indicated included Hampton, Hilton Garden Inn, or Holiday Inn
Express type hotels would be a good fit. He also indicated that the city is a stopping point on the way to
Rocky Point and San Francisco as well the new Copper Sky Regional Park appears to have high leisure
demand need with the baseball and soccer fields offered.
In speaking with the Mayor at the City of Maricopa, he indicated there appears to be a substantial
amount of overnight accommodation need in the city including families, tournaments held at the new
sports complex, VW Proving Grounds business, other local businesses, and even people traveling
through to the Sand Dunes nearby. Currently they recommend the nearest Harrah's Ak-Chin Casino
Resort Hotel or hotels in the Chandler market. He also indicated Harrah's Ak-Chin Casino Resort
Casino Resort is often full, charging upwards of $150/night for travelers. He felt strongly that Maricopa
was in need of a lodging facility. Amenities recommended included meeting space for receptions from
250-500 people.
In speaking with the Community Services Director at the City of Maricopa, she indicated they
have approximately 10 tournaments annually with teams coming in from out of town seeking lodging as
well as contract employees estimated at over 1,000 annually in need of accommodations. Currently they
recommend hotels in Casa Grande or Chandler as they are the closest lodging options to Maricopa and
the Harrah's Ak-Chin Casino Resort being sold out oftentimes during their events. When asked if she
felt Maricopa would benefit from a newer branded hotel she indicated strong support for a familyfriendly hotel with extended stay options and meeting space for 100-200 people.
In speaking with the Senior Operations Manager at Nissan Arizona Proving Grounds, she
indicated they have visitors coming in from Nissan, third party customers, groups, and race teams
coming in weekly. Currently, they have had a group in since August ranging from 10-25 people staying
for up to 90 days. One of their race teams consisting of 30-40 people are coming in this month and
staying for 30+ days. The estimate of rooms needed on an annual basis is between 5,000-7,500 with
most coming in for 14+ days at 30 people or more per month. She indicated July was their busiest
month with between 100-200 visitors this year. Currently they recommend the Wild Horse Pass
Sheraton, Hampton Inn Chandler, or Residence Inn Chandler. Most of their Japanese travelers prefer
the Residence Inn location staying for extended periods of time. When asked if she felt Maricopa would
benefit from a newer branded hotel she indicated their facilities directly would benefit as their guests
would not have to travel over 15 miles to Chandler and the city would benefit with these groups
spending their dollars in the community at local stores and restaurants. Amenities recommended
included microwaves, refrigerators, and/or full kitchens, dinner, and breakfast. One note is that many of
their clients are from Japan or Germany, therefore it would benefit a hotel to cater some of their
breakfast or dinner menu options to appeal to these groups.
Source: Core Distinction Group LLC Community Interviews (2014)
32
01/22/2015
Benefits of Maricopa, AZ
Growth in Community (IV)
Affordable Housing (III)
Well Educated Workforce (II)
Best Kept Secret in AZ
Great Place to Live
Tight Knit Community
Locals Support Local Businesses
Up and Coming Community
New City, Open to New Ideas
Community Spirit
Banner Health Maricopa Center
Strong Sense of Community
Supportive Local Government
High Quality of Life
Greater Disposable Income
16 Miles to Nearest City
Challenges of Maricopa, AZ
Locals Commute to Valley for Work (V)
Retail Space High Cost (III)
High Tax (II)
More Community Awareness Needed (II)
Distance to Phoenix, AZ
Seasonality
Needs more business and services
Needs more family style restaurants
Lowe's or Home Depot Facility in town needed
Source: Core Distinction Group LLC Community Interviews (2014)
33
01/22/2015
Lodging Supply
This section of the report describes the primary competitive Lodging Supply that will affect the property, particularly for hotel room demand.
Competitive Hotel Properties

The Overall/Statistical Competitive Set was pared down to the four most comparable or competitive properties which
will help to generate preliminary rate positioning for the proposed hotel.
Direct Competitive Set

RATE ANALYSIS
Property
Residence Inn Phoenix Chandler Fashion Center
Homewood Suites Phoenix Chandler (I)
Homewood Suites Phoenix Chandler (II)
Harrah's Ak Chin Resort
SINGLE
DOUBLE
WEEKEND
CORP
Projected
ADR
$142.99
$159.00
$139.00
$79.99
$134.49
$149.00
$139.00
$79.99
$118.99
$119.00
$104.00
$179.99
$129.99
$99.00
$89.00
$79.99
$131.62
$131.50
$117.75
$104.99
COMPETITIVE MARKET AVERAGE DAILY ROOM RATE (ADR):
$121.46
As noted above, there are four properties pared down for comparison in rate positioning. The above mentioned hotels
were running rack rates from $104-$159 for the month of December 2014. Average ADR for these hotels range from
$105-$131 excluding negotiated business (occupancies vary based on accounts). With this rate positioning, this would
place the subject hotel competitive with this grouping of extended stay hotels out of the Chandler market.
STR Competitive Hotel Rates (December 2014)

RATE ANALYSIS
Property
Holiday Inn Express & Suites Phoenix Chandler
Radisson Phoenix Chandler
Hampton Inn Phoenix Chandler
Hampton Inn & Suites Phoenix Chandler
Courtyard Phoenix Chandler Fashion Center
SINGLE
DOUBLE
WEEKEND
CORP/ESSOC
Projected
ADR
$105.99
$96.05
$142.99
$124.00
$159.00
$139.00
$139.00
$139.00
$96.99
$96.05
$134.49
$119.00
$149.00
$129.00
$129.00
$139.00
$78.99
$89.25
$118.99
$94.00
$119.00
$129.00
$104.00
$104.00
$79.00
$89.00
$129.99
$79.00
$99.00
$99.00
$89.00
$89.00
$90.24
$92.59
$131.62
$104.00
$131.50
$124.00
$115.25
$117.75

STR Competitive Hotel EXTENDED STAY Rates (December 2014)
RATE ANALYSIS
Property
Rooms
102
83
133

7+
14+
30+
$159.99
$149.00
$139.00
$159.99
$129.00
$124.00
$129.99
$119.00
$109.00
$113.37
30+ Rate
$129.99
$119.00
$109.00
$119.33
STR Competitive Hotel Rates Immediate Market (December 2014)

Not reported on STR due to Independent Branding
Property
Harrah's Ak Chin Resort
Rooms
292
RATE ANALYSIS
SINGLE
DOUBLE
WEEKEND
Nissan/VW
Projected
ADR
$79.99
$79.99
$179.99
$79.99
$104.99
$120.00
$134.00
Monthly Rate Survey Completed for Harrah's due to proximity to Maricopa on following pages.
Sheraton Wild Horse Pass
500
$130.00
$130.00
$156.00
$119.50
The above mentioned hotels are located directly in the Maricopa market yet do not report their occupancies, rates, or
revenues to STR for comparison.
34
01/22/2015
The proposed hotel will directly serve the Maricopa market and will attract the Lodging Demand
identified in this report. As a result, it should be the premier property in Maricopa and should
attract any Unaccommodated Lodging Demand being displaced elsewhere in the region due to the
lack of accommodations in the city. Its facilities will be developed to match the expectations of
today's travelers. This property could be established with a national or regional brand. Working
with a brand that has experience in the lodging market will establish quality assurance for the hotel.
Its defined rate positioning should establish the property as a highly competitive hotel for its
Lodging Demand.
Room rate competition for an upscale extended stay branded hotel in this market will be present
throughout the year. This rate competition will be dictated by the rate structure of the hotels in
the surrounding regional area. With proper rate positioning the hotel should achieve a yield to the
immediate market of 150% (Weekday) and the overall region of 90%-100% which is average and
would assist in mitigating any rate sensitivity. The developed hotel in this market should mirror
the rates of the branded hotels in Chandler or within $10. Negotiated rates with local businesses
or demand generators may be discounted and could drive ADR down dependent on rooms
allotted to each account. In this region, two major accounts identifying extended stay need are
present with a minimum potential of 5,000-10,000 guestroom nights annually. That said,
negotiated rates with these businesses for 7+, 14+, and 30+ stays will impact average daily rate
(ADR) as a whole for the hotel development. Rate strategies for an extended stay hotel would tier
down for each level of extended stay time frame. Example: 7+ rates would be negotiated from
$129; 14+ rates would be negotiated from $119; and 30+ $109 or less. These are only examples,
these rate structures are typically negotiated through national RFPs with each corporation in the
area and fluctuate based on total room nights consumed.
The statistical competitive market surveyed has seen new supply growth in the past year. In July of
2014, an upscale extended stay Staybridge Suites Hotel with 104 guestrooms opened in the
Chandler market further indicating a need in the region for extended stay guestroom options. At
the time of this report there was no other indication of another hotel under construction in the
region. Still, this should be monitored closely throughout the Maricopa hotel development
process. No additional supply growth was factored into the projections at this time.
35
01/22/2015
Competitive Hotels
Primary Competitive Hotels (Chandler, AZ)
# of Rooms

125
159
102
101
83
153
150
133
1006
Grand Total:
Source: STR & Core Distinction Group, LLC
Based on STR data provided, the following table summarizes the historical trends in occupancy
and rates for the competitive supply in the past five years and estimated 2014.
Historical Market Performance

Year
Annual Occupancy
Occupied Rooms
Average Rate
2009
2010
2011
2012
2013
2014
48.9%
54.8%
70.8%
67.5%
70.1%
71.4%
179,471
201,286
260,125
247,743
257,294
262,299
$96.84
$89.59
$94.50
$100.84
$103.20
$103.21
Occ %
ADR
(Growth/Decline)
-18.4%
5.9%
16.0%
-3.4%
2.6%
1.4%
($22.11)
($7.24)
$4.91
$6.33
$2.36
$0.01
Based on STR data provided, the following table summarizes the projected occupancy and rates
for the competitive supply in the upcoming three years.
Projected Market Performance

Year
Annual Occupancy
Occupied Rooms
Average Rate
2012
2013
2014
2015
2016
67.5%
70.1%
71.4%
73.6%
75.4%
257,294
262,299
262,299
270,167
276,922
$100.84
$103.20
$103.21
$106.31
$109.50
Occ %
ADR
(Growth/Decline)
2.6%
1.4%
1.4%
2.1%
1.8%
$6.33
$2.36
$0.01
$3.10
$3.19
Note: Occupancy decline shown from 2009 vs. 2008 was caused primarily by aggressive hotel
development in the Chandler market. In 2009, the following hotels opened adding 743 additional
rooms to the market nightly to the area or 271,195 annually:
1. 2/2009 - Hilton Phoenix Chandler (197 Guestrooms)
2. 9/2009 - Hampton Inn & Suites Phoenix Chandler (153 Guestrooms)
3. 9/2009 - Fairfield Inn & Suites Chandler (110 Guestrooms)
4. 9/2009 - Courtyard Phoenix Chandler (150 Guestrooms)
5. 10/2009 - Homewood Suites Phoenix Chandler (153 Guestrooms)
Occupancy appears to be accurately forecasted for the upcoming three years based on the market
and demand as recent year trends. Occupancy and ADR are projected to climb through 2016 as
there are currently no hotels slotted as U/C (Under Construction) in the immediate area as of this
reporting date.
36
01/22/2015
IMAGES of Hotels Surveyed in Chandler, AZ:

37
01/22/2015
# of Guestrooms
# of Floors
125
Kitchenettes
No
Business Center
Fitness Center (Onsite)
Fitness Center (Off Site)
Yes
Yes
Yes/LaFitness $30
Banquet/Meeting Facilities
Restaurant on Site
Room Service
Yes - 840 sq.ft.
No
No
Breakfast
Lunch
Dinner
Complimentary
No
No
Pool (Indoor)
Pool (Outdoor)
Spa
No
Yes
Yes
Market / Gift Shop
Elevator
Shuttle Service
No
Yes
No
Internet
Guest Laundry Facilities
Valet
Complimentary
Yes
Yes
Parking
Smoking/Non-Smoking
Pets
Complimentary
100% Non-Smoking Facility
No
The Holiday Inn Express Hotel & Suites Phoenix - Chandler is the answer for those seeking affordable
Phoenix hotels. Thoughtfully located off I-10 and Chandler Boulevard, less than 15 miles from Phoenix Sky
Harbor International Airport (PHX), our property ensures convenient access to prominent businesses and
popular attractions throughout both Phoenix and Chandler, AZ. The hotel's professional services are of
great appeal to corporate travelers. In addition to a Business Center with fax, copy and print capabilities,
patrons can use the more than 700 square feet of meeting space. Those visiting clients or colleagues in
Phoenix also appreciate our proximity to companies like Intel, ADP, Honeywell, Global Crossing and the
Arizona Department of Agriculture. Phoenix vacations are likely to be action-packed. Guests can find the
season's latest styles at nearby Chandler Fashion Center in Chandler, AZ, or leave the hotel's property in
pursuit of a Wild West experience at Rawhide Western Town and Steakhouse. Phoenix Premium Outlets
Mall is just 3.2 miles from our hotel and Lone Butte Casino is less than two miles away. Designed with
your comfort in mind, this hotel's facility in Phoenix, AZ boasts every amenity from free Wi-Fi access and a
complimentary, hot breakfast to a Fitness Center and an outdoor pool. Guest laundry facilities are also
available. Find your niche here!
Source: Ihg.com
38
01/22/2015
# of Guestrooms
# of Floors
159
Kitchenettes
No
Business Center
Yes
Yes
N/A
Restaurant on Site
Room Service
Yes - 6,800 sq.ft.
Yes
Yes
Breakfast
Lunch
Dinner
Yes - Restaurant
No
Yes - Restaurant
Pool (Indoor)
Pool (Outdoor)
Spa
No
Yes
Yes
Market / Gift Shop
Elevator
Shuttle Service
Yes
Yes
Yes
Internet
Valet
Yes
Yes
Yes
Parking
Smoking/Non-Smoking
Pets
Complimentary
No
Ideally located in the beautiful Valley of the Sun, the Radisson Phoenix-Chandler is an upscale property
offering easy access to Phoenix-Sky Harbor Airport (PHX) and nearby attractions in Phoenix, Tempe,
Mesa, Gilbert and Glendale. Here, you can take advantage of numerous on-site amenities, including
complimentary Wi-Fi, a fitness center, on-site dining and a sparkling outdoor swimming pool. Feel like
exploring the area? Take advantage of complimentary shuttle service within a five-mile radius (based on
availability), allowing you to visit popular highlights like the renowned Rawhide Western Town, Wild Horse
Pass Casino, the Chandler Fashion Center Mall, the Phoenix Premium Outlets, Wild Horse Pass
Motorsports Park and the Bob Bondurant School of Driving. Reserve your stay online to discover what
sets the Radisson apart from other hotels in Chandler.
Source: Radisson.com
39
01/22/2015
# of Guestrooms
# of Floors
Kitchenettes
102
Yes - All Rooms
Business Center
Yes
Yes
No
Restaurant on Site
Room Service
Yes - 441 sq.ft.
No
No
Breakfast
Lunch
Dinner
Complimentary
No
Complimentary Weekday Social
Pool (Indoor)
Pool (Outdoor)
Spa
No
Yes
Yes
Market / Gift Shop
Elevator
Shuttle Service
Yes
Yes
No
Internet
Valet
Complimentary
Yes
Yes
Parking
Smoking/Non-Smoking
Pets
Complimentary
Yes
Thrive on Long Stays - The preferred choice for extended-stay hotels in Chandler, AZ, Residence Inn
Phoenix Chandler, welcomes you to the beautiful Southeast Valley of Phoenix. Guests stay within walking
distance of Chandler Fashion Center Mall, more than 25 restaurants, and just a quick trip from countless
other Phoenix area attractions. All-suite accommodations are ideal for corporate visitors, government
contractors, leisure guests and group travelers. We are pleased to offer a complimentary full, hot breakfast
each morning and evening social hours with light fare (Tues and Wed). Additional amenities include
complimentary Wi-Fi, available meeting space, outdoor pool and Jacuzzi, fitness center and outdoor
barbeque area. Each spacious suite is complete with a full-sized kitchen and available in one or twobedroom floor-plans. Our knowledgeable and friendly team is standing by 24/7 to assist you. Discover one
of the premier extended-stay hotels in Chandler, AZ.
Source: Marriott.Com
40
01/22/2015
# of Guestrooms
# of Floors
101
Kitchenettes
No
Business Center
No
Yes
N/A
Restaurant on Site
Room Service
1 - 450 sq.ft.
No
No
Breakfast
Lunch
Dinner
Complimentary
No
No
Pool (Indoor)
Pool (Outdoor)
Spa
No
Yes
Yes
Market / Gift Shop
Elevator
Shuttle Service
No
Yes
No
Internet
Valet
Complimentary
No
Yes
Parking
Smoking/Non-Smoking
Pets
Complimentary
Smoking Rooms Available
No
Located directly off I-17/I-10, the Hampton Inn Phoenix / Chandler hotel is in the heart of the Phoenix
tech district with proximity to several major corporations, including Intel, Honeywell, BE Aerospace, and
Novell. Sky Harbor Airport and downtown Phoenix are just 15 minutes directly north from our Chandler
hotel. Our refreshed lobby and an array of amenities makes our Chandler hotel a convenient and
comfortable choice among hotels in Phoenix, AZ. Stay connected with free WiFi and rest easy on a
signature clean and fresh Hampton bed. Start your day with a free hot breakfast or a Hampton On the
Run Breakfast Bag on your way out the door. Maintain your regimen in our fitness center, newly
renovated August 2014, or wind down with a dip in the outdoor pool.
Source: Hilton.com
41
01/22/2015
# of Guestrooms
# of Floors
83
Kitchenettes
Yes
Business Center
Yes
Yes
N/A
Restaurant on Site
Room Service
Yes - 240 Sq.ft.
No
No
Breakfast
Lunch
Dinner
Complimentary
No
Pool (Indoor)
Pool (Outdoor)
Spa
No
Yes
No
Market / Gift Shop
Elevator
Shuttle Service
Yes
Yes
No
Internet
Valet
Complimentary
Yes
Yes
Parking
Smoking/Non-Smoking
Pets
Complimentary
Yes
Discover this hotel in Chandler, AZ with the comforts of home. Unwind at Homewood Suites by Hilton
Phoenix/Chandler and stay a while in a home away from home. Situated just fifteen minutes from Phoenix
Sky Harbor International Airport, our hotel is close to a range of businesses, shopping and dining options.
Play a round of golf at one of three nearby Phoenix golf courses within eight miles of our hotel in
Chandler, AZ, or treat yourself at the nearby Arizona Mills indoor outlet mall or Chandler Fashion Center.
Discover all the comforts of home in this pet-friendly Chandler hotel. Unwind in a spacious suite, featuring
a large, separate living area, a fully equipped kitchen and two flat-screen TVs. Continue your exercise
routine with the fitness center, pool or basketball court, situated just steps from the hotel. Start your day
with a complimentary hot full breakfast or savor complimentary evening dinner and drinks* served Monday
through Thursday. Enjoy all the support you need in the hotels business center or host a meeting for up to
twelve people and relax while expert event planners take care of the details.
Source: Hilton.com
42
01/22/2015
# of Guestrooms
# of Floors
Kitchenettes
153
Microwaves/Refrigerators
Business Center
Yes
Yes
N/A
Restaurant on Site
Room Service
Yes - 575 sq. ft.
No
No
Breakfast
Lunch
Dinner
Complimentary
No
No
Pool (Indoor)
Pool (Outdoor)
Spa
No
Yes
Yes
Market / Gift Shop
Elevator
Shuttle Service
Yes
Yes
No
Internet
Valet
Complimentary
Yes
Yes
Parking
Smoking/Non-Smoking
Pets
Complimentary
No
Comfort and convenience at our hotel in Chandler, AZ. Take advantage of the great value found at the
Hampton Inn & Suites Phoenix Chandler-Fashion Center AZ hotel next to the intersection of Loop 101
and 202. Enjoy our free 5-mile radius shuttle to many of the technological businesses nearby or to Chandler
Fashion Center, just two miles from our hotel in Chandler, AZ. While traveling for pleasure, make a bet at
nearby Lone Butte Casino, hit the links at Ocotillo Golf Course, or watch car racing at the Wild Horse Pass
Raceway. Venture to downtown Phoenix with its wealth of attractions, including Chase Field, the Phoenix
Convention Center, and Phoenix Zoo. Enjoy our thoughtful amenities including free WiFi and an on-site
convenience store, as well as a microwave and mini-fridge in each guest room and suite. Get some welldeserved rest on the clean and fresh Hampton bed before waking up to Hamptons free hot breakfast.
Reinvigorate with a workout in the fitness center or spend a day basking in the sunshine by the outdoor
pool and whirlpool spa. Our hotel in Chandler, AZ also provides a 24-hour business center, in addition to
meeting space for up to 40 guests.
Source: Hilton.com
43
01/22/2015
# of Guestrooms
# of Floors
150
Kitchenettes
No
Business Center
Yes
Yes
N/A
Restaurant on Site
Room Service
Yes - (4) Meeting Rooms 1,600 sq.ft.
Yes (Bistro)
No
Breakfast
Lunch
Dinner
Yes (Bistro)
Yes (Bistro)
Yes (Bistro)
Pool (Indoor)
Pool (Outdoor)
Spa
No
Yes
Yes
Market / Gift Shop
Elevator
Shuttle Service
Yes
Yes
No
Internet
Valet
Complimentary
No
Yes
Parking
Smoking/Non-Smoking
Pets
Complimentary
No
Courtyard Phoenix Chandler hotel located off Highway 202 just 20 minutes from downtown via I-10 offers
thoughtful amenities for the busy, tech-savvy traveler. Our state-of-the-art lobby features individual media
pods, free WiFi and interactive GoBoard for the most up-to-minute news, traffic & weather. Business
travelers and vacationing families love our hotel rooms with free WiFi and flat-screen TVs. Some rooms
even offer mountain views. When you stay with us, you'll enjoy healthy meal options at our onsite Bistro
serving breakfast with Starbucks coffee and dinner with bar service. The most convenient of Chandler
hotels, we're minutes from Chandler Mall and offer a free shuttle service to the mall and nearby
corporations (7am-10pm). After a busy day in the Phoenix area, take advantage of our fitness center,
outdoor pool & patio with fire pit. With rates typically lower than downtown options and close proximity
to Fashion Center, Diablo Stadium and Phoenix Raceway, we're the top choice of Chandler hotels.
Source: Marriott.com
44
01/22/2015
# of Guestrooms
# of Floors
133
Kitchenettes
Yes
Business Center
Yes
Yes
N/A
Restaurant on Site
Room Service
Yes - 200 sq. ft.
No
No
Breakfast
Lunch
Dinner
Complimentary
No
Pool (Indoor)
Pool (Outdoor)
Spa
No
Yes
Yes
Market / Gift Shop
Elevator
Shuttle Service
Yes
Yes
No
Internet
Valet
Complimentary
Yes
Yes
Parking
Smoking/Non-Smoking
Pets
Complimentary
Yes
Located near the intersection of Loop 101 & 202, the Homewood Suites by Hilton Phoenix Chandler
Fashion Center hotel is just 2 miles from shopping at Chandler Fashion Center to the north and hip dining
at Downtown Ocotillo to the south. Take advantage of our complimentary 5-mile radius shuttle service,
perfect for guests at our extended stay hotel in Chandler, AZ. Guests will take note of our helpful,
welcoming staff and large outdoor pool with whirlpool. Our spacious king studio, one- and two-bedroom
suites feature separate living and sleeping areas. Make your extended stay in Chandler, AZ as comfortable as
possible in a fully equipped kitchen with a full-size refrigerator, microwave, two-burner stove and
dishwasher. You'll find enough space for work or entertaining with complimentary WiFi, two flat-screen
TVs, and work desk.
Source: Hilton.com
45
01/22/2015
Harrah's Ak-Chin Hotel
# of Guestrooms
# of Floors
292
Multi
Kitchenettes
No
Business Center
Yes - 4,784 sq. ft.
Yes
No
Restaurant on Site
Room Service
Yes
Yes
Yes
Breakfast
Lunch
Dinner
Yes - Restaurants
Yes - Restaurants
Yes - Restaurants
Pool (Indoor)
Pool (Outdoor)
Spa
No
Yes
Yes
Market / Gift Shop
Elevator
Shuttle Service
Yes
Yes
No
Internet
Valet
Complimentary
No
No
Parking
Smoking/Non-Smoking
Pets
Complimentary / Valet
Yes
When you're not playing one of your favorite games, you can settle into one of our 300 luxurious
guestrooms, which come complete with all the amenities to make your stay a comfortable one. If you're
looking for the excitement of a casino, with the relaxing ambience of a first-class resort, both can be
found at the same place: Harrah's Ak-Chin.
Source: Harrah's Ak-Chin.com
46
01/22/2015
Ak-Chin Hotel
(2015 Rate Strategy)
15-Jan
15-Feb
15-Mar
Weekday
Weekend
Weekday
Weekend
Weekday
Weekend
$79.99
$209.99
$99.99
$249.99
$89.99
$199.99
$79.99
$239.99
$99.99
$399.99
$89.99
$199.99
$79.99
$239.99
$99.99
$249.99
$89.99
$199.99
$79.99
$399.99
$99.99
$249.99
$89.99
$199.99
$79.99
$272.49
$99.99
$287.49
$89.99
$199.99
15-Apr
15-May
15-Jun
Weekday
Weekend
Weekday
Weekend
Weekday
Weekend
$79.99
$179.99
$79.99
$179.99
$79.99
$179.99
$79.99
$179.99
$79.99
$179.99
$79.99
$179.99
$79.99
$179.99
$79.99
$179.99
$79.99
$179.99
$79.99
$179.99
$79.99
$179.99
$79.99
$179.99
$179.99
$79.99
$179.99
$79.99
$79.99
15-Jul
15-Aug
$179.99
15-Sep
Weekday
$79.99
Weekend
$199.99
Weekday
$79.99
Weekend
$189.99
Weekday
$79.99
Weekend
$209.99
$79.99
$189.99
$79.99
$199.99
$79.99
$179.99
$79.99
$179.99
$79.99
$229.99
$79.99
$179.99
$79.99
$179.99
$79.99
$239.99
$79.99
$179.99
$187.49
$79.99
$214.99
$79.99
$79.99
15-Oct
15-Nov
$187.49
14-Dec
Weekday
Weekend
Weekday
Weekend
Weekday
Weekend
$79.99
$179.99
$79.99
$179.99
$79.99
$329.99
$79.99
$179.99
$79.99
$179.99
$79.99
$329.99
$79.99
$179.99
$79.99
$179.99
$79.99
$179.99
$79.99
$179.99
$79.99
$179.99
$79.99
$179.99
$79.99
$179.99
$79.99
$179.99
$79.99
$254.99
47
01/22/2015
Arizona Extended Stay Rate Survey - 2014

In October 2012, Biz-stay.com researchers conducted an extensive survey comparing the lowest
available weekly discount rates the following January at 10 leading extended stay hotel chains. The
chains ranged from budget to upscale. For extended stay chain abbreviations used in the rate
matrix below, please refer to the following key:
In many areas, there was more than one hotel of a particular brand. When these hotels charged
different rates, we provide a price range. When there is no vacancy for the particular suite type, this
is indicated by "nv". Note that many chains offer lower rates for month stays (30 days or longer).
48
01/22/2015
United Kingdom
Blue Fin Building
110 Southwark Street
London SE1 0TA
Phone: +44 (0)20 7922 1930
Fax: +44 (0)20 7922 1931
www.strglobal.com
United States
735 East Main Street
Hendersonville
TN 37075
Phone: +1 (615) 824 8664
Fax: +1 (615) 824 3848
www.str.com
Maricopa, AZ
January 2008 to October 2014
Job Number: 637110_SADIM
Staff: MB
Created: November 26, 2014
Currency: USD - US Dollar
Tab
Table of Contents
Data by Measure
Percent Change by Measure
Percent Change by Year
Twelve Month Moving Average
Twelve Month Moving Average with Percent Change
Day of Week Analysis
Raw Data
Classic
Response Report
10
Help
11
Terms and Conditions
12
49
01/22/2015
Tab 2 - Data by Measure

Maricopa, AZ (Set 2)
Staff: MB
Occupancy (%)
2008
2009
2010
2011
2012
2013
2014
Avg
January
74.7
62.8
48.1
70.1
66.1
61.0
72.6
64.5
February
84.4
72.8
63.2
82.1
83.7
80.1
89.3
79.5
March
83.6
69.4
73.5
90.3
92.9
86.3
90.9
84.9
April
78.2
57.6
51.9
74.9
72.3
67.4
79.4
68.9
May
60.8
44.2
45.8
73.4
66.0
64.0
73.3
62.3
June
55.6
43.7
45.6
63.6
66.0
64.9
60.4
58.2
July
58.7
46.5
39.9
62.1
59.3
62.9
56.1
55.4
August
53.4
47.1
44.9
65.4
57.7
64.2
57.1
56.5
September
63.9
38.2
50.4
63.9
56.1
66.3
60.4
57.0
October
71.7
39.7
62.7
72.6
67.3
75.4
72.4
65.6
November
70.4
48.5
73.1
72.5
70.0
81.2
January
143.96
118.81
99.05
103.15
112.58
114.77
116.51
114.24
February
160.64
129.50
105.82
107.39
116.98
123.26
126.22
121.99
March
139.09
117.81
105.02
109.45
120.91
125.37
132.82
120.92
April
132.99
104.50
91.14
98.47
105.45
111.83
114.89
108.06
May
114.43
91.12
83.57
89.46
97.04
99.17
98.79
95.84
June
100.36
79.77
76.17
82.86
85.63
88.11
86.24
85.38
July
90.48
76.01
74.17
78.83
84.57
86.27
84.67
82.55
August
89.57
75.49
75.60
81.00
82.93
85.47
85.13
82.46
September
105.42
86.11
85.80
90.38
93.70
95.09
97.53
93.39
January
107.57
74.61
47.64
72.31
74.39
70.01
84.60
73.73
February
135.51
94.32
66.87
88.17
97.92
98.78
112.75
96.97
March
116.23
81.77
77.15
98.84
112.28
108.24
120.79
102.64
April
103.93
60.16
47.28
73.74
76.25
75.42
91.28
74.50
May
69.62
40.32
38.26
65.66
64.10
63.42
72.46
59.71
June
55.80
34.85
34.75
52.70
56.50
57.18
52.13
49.67
July
53.11
35.32
29.61
48.94
50.17
54.27
47.53
45.75
August
47.80
35.53
33.97
52.94
47.86
54.90
48.64
46.56
January
17,670
17,670
31,186
31,186
31,186
31,186
31,186
27,324
February
15,960
15,960
28,168
28,168
28,168
28,168
28,168
24,680
March
17,670
17,670
31,186
31,186
31,186
31,186
31,186
27,324
April
17,100
17,100
30,180
30,180
30,180
30,180
30,180
26,443
May
17,670
17,670
31,186
31,186
31,186
31,186
31,186
27,324
June
17,100
17,100
30,180
30,180
30,180
30,180
30,180
26,443
July
17,670
17,670
31,186
31,186
31,186
31,186
31,186
27,324
January
13,204
11,097
15,001
21,862
20,607
19,023
22,645
17,634
February
13,463
11,624
17,799
23,126
23,579
22,574
25,161
19,618
March
14,766
12,265
22,912
28,161
28,962
26,926
28,361
23,193
April
13,364
9,844
15,655
22,602
21,822
20,354
23,977
18,231
May
10,750
7,818
14,277
22,889
20,598
19,945
22,874
17,022
June
9,508
7,470
13,767
19,196
19,912
19,587
18,242
15,383
January
1,900,818
1,318,419
1,485,793
2,255,103
2,319,880
2,183,231
2,638,438
2,014,526
February
2,162,739
1,505,306
1,883,527
2,483,560
2,758,332
2,782,547
3,175,837
2,393,121
March
2,053,793
1,444,955
2,406,113
3,082,362
3,501,658
3,375,628
3,766,978
2,804,498
April
1,777,222
1,028,718
1,426,796
2,225,539
2,301,175
2,276,093
2,754,801
1,970,049
May
1,230,103
712,412
1,193,169
2,047,559
1,998,904
1,977,882
2,259,836
1,631,409
June
954,251
595,898
1,048,616
1,590,626
1,705,101
1,725,826
1,573,234
1,313,365
December
53.1
38.6
59.7
60.1
53.7
68.0
Total Year
67.2
48.9
54.8
70.8
67.5
70.1
80.0
65.0
71.4
69.2
55.7
63.7
October
108.54
88.52
88.38
95.27
100.32
103.62
101.72
98.23
November
106.22
89.66
87.85
95.56
98.14
99.05
December
103.32
86.87
88.00
92.32
94.13
97.17
Total Year
118.94
September
67.37
32.93
43.24
57.77
52.53
63.04
58.89
53.19
August
17,670
17,670
31,186
31,186
31,186
31,186
31,186
27,324
July
10,372
8,210
12,448
19,360
18,500
19,619
17,506
15,145
July
938,497
624,036
923,295
1,526,126
1,564,616
1,692,510
1,482,256
1,250,191
Oct YTD
68.4
50.6
52.5
71.8
68.6
69.2
71.1
65.1
ADR ($)
2008
2009
2010
2011
2012
2013
2014
Avg
96.84
89.59
94.50
100.84
99.00
95.00
103.20
103.21
95.66
93.25
99.80
October
77.80
35.15
55.39
69.14
67.49
78.16
73.69
64.43
November
74.81
43.53
64.18
69.30
68.72
80.38
December
54.85
33.54
52.51
55.48
50.51
66.08
Total Year
79.97
66.20
51.95
63.58
September
17,100
26,190
30,180
30,180
30,180
30,180
30,180
27,741
October
17,670
31,186
31,186
31,186
31,186
31,186
31,186
29,255
November
17,100
30,180
30,180
30,180
30,180
30,180
December
17,670
31,186
31,186
31,186
31,186
31,186
Total Year
208,050
257,252
367,190
367,190
367,190
367,190
28,000
28,933
322,344
August
9,429
8,318
14,015
20,383
17,996
20,032
17,821
15,428
September
10,928
10,015
15,210
19,290
16,919
20,009
18,221
15,799
October
12,666
12,383
19,545
22,633
20,980
23,524
22,592
19,189
November
12,044
14,652
22,048
21,885
21,132
24,492
December
9,381
12,040
18,608
18,739
16,735
21,207
Total Year
139,875
125,736
201,285
260,126
247,742
257,292
19,376
16,118
205,343
August
844,562
627,887
1,059,508
1,651,064
1,492,496
1,712,233
1,517,025
1,272,111
September
1,152,066
862,386
1,305,086
1,743,525
1,585,308
1,902,565
1,777,159
1,475,442
October
1,374,708
1,096,137
1,727,388
2,156,141
2,104,663
2,437,542
2,298,150
1,884,961
November
1,279,322
1,313,637
1,936,818
2,091,408
2,073,827
2,425,917
December
969,273
1,045,872
1,637,548
1,730,060
1,575,219
2,060,677
Total Year
16,637,354
12,175,663
18,033,657
24,583,073
24,981,179
26,552,651
1,853,488
1,503,108
20,493,930
Oct YTD
121.48
99.11
90.02
94.59
101.64
104.29
106.92
101.96
RevPAR ($)
2008
2009
2010
2011
2012
2013
2014
Avg
47.33
49.11
66.95
68.03
72.31
Oct YTD
83.04
50.11
47.28
67.89
69.75
72.15
76.00
66.41
Supply
2008
2009
2010
2011
2012
2013
2014
Avg
Oct YTD
173,280
195,886
305,824
305,824
305,824
305,824
305,824
271,184
Demand
2008
2009
2010
2011
2012
2013
2014
Avg
Oct YTD
118,450
99,044
160,629
219,502
209,875
211,593
217,400
176,642
Revenue ($)
2008
2009
2010
2011
2012
2013
2014
Avg
Oct YTD
14,388,759
9,816,154
14,459,291
20,761,605
21,332,133
22,066,057
23,243,714
18,009,673
STRs Trend Report is a publication of STR, Inc. and is intended solely for use by paid subscribers. Reproduction or distribution of the Trend Report, in whole or part, without written permission of STR is prohibited and subject to legal action. Site licenses are available. Ownership,
distribution and use of the Trend Report and its contents are subject to the terms set forth in the contract you have entered into with STR. Source 2014 STR, Inc.
50
01/22/2015
Tab 3 - Percent Change from Previous Year - Detail by Measure

Staff: MB
Occupancy
2009
2010
2011
2012
2013
2014
Avg
January
-16.0
-23.4
45.7
-5.7
-7.7
19.0
2.0
February
-13.7
-13.2
29.9
2.0
-4.3
11.5
2.0
March
-16.9
5.8
22.9
2.8
-7.0
5.3
2.2
April
-26.3
-9.9
44.4
-3.5
-6.7
17.8
2.6
May
-27.3
3.5
60.3
-10.0
-3.2
14.7
6.3
June
-21.4
4.4
39.4
3.7
-1.6
-6.9
2.9
July
-20.8
-14.1
55.5
-4.4
6.0
-10.8
1.9
August
-11.8
-4.5
45.4
-11.7
11.3
-11.0
2.9
September
-40.2
31.8
26.8
-12.3
18.3
-8.9
2.6
October
-44.6
57.8
15.8
-7.3
12.1
-4.0
5.0
November
-31.1
50.5
-0.7
-3.4
15.9
December
-27.3
54.6
0.7
-10.7
26.7
Total Year
-27.3
12.2
29.2
-4.8
3.9
6.2
8.8
2.6
January
-17.5
-16.6
4.1
9.1
1.9
1.5
-2.9
February
-19.4
-18.3
1.5
8.9
5.4
2.4
-3.2
March
-15.3
-10.9
4.2
10.5
3.7
5.9
-0.3
April
-21.4
-12.8
8.0
7.1
6.0
2.7
-1.7
May
-20.4
-8.3
7.0
8.5
2.2
-0.4
-1.9
June
-20.5
-4.5
8.8
3.3
2.9
-2.1
-2.0
July
-16.0
-2.4
6.3
7.3
2.0
-1.9
-0.8
August
-15.7
0.1
7.1
2.4
3.1
-0.4
-0.6
September
-18.3
-0.4
5.3
3.7
1.5
2.6
-0.9
October
-18.4
-0.2
7.8
5.3
3.3
-1.8
-0.7
November
-15.6
-2.0
8.8
2.7
0.9
December
-15.9
1.3
4.9
2.0
3.2
Total Year
-18.6
-7.5
5.5
6.7
2.3
-1.0
-0.9
-2.3
January
-30.6
-36.1
51.8
2.9
-5.9
20.9
0.5
February
-30.4
-29.1
31.9
11.1
0.9
14.1
-0.3
March
-29.6
-5.7
28.1
13.6
-3.6
11.6
2.4
April
-42.1
-21.4
56.0
3.4
-1.1
21.0
2.6
May
-42.1
-5.1
71.6
-2.4
-1.1
14.3
5.9
June
-37.6
-0.3
51.7
7.2
1.2
-8.8
2.2
July
-33.5
-16.2
65.3
2.5
8.2
-12.4
2.3
August
-25.7
-4.4
55.8
-9.6
14.7
-11.4
3.3
September
-51.1
31.3
33.6
-9.1
20.0
-6.6
3.0
October
-54.8
57.6
24.8
-2.4
15.8
-5.7
5.9
November
-41.8
47.4
8.0
-0.8
17.0
December
-38.9
56.6
5.6
-9.0
30.8
Total Year
-40.8
3.8
36.3
1.6
6.3
5.9
9.0
1.4
January
0.0
76.5
0.0
0.0
0.0
0.0
12.7
February
0.0
76.5
0.0
0.0
0.0
0.0
12.7
March
0.0
76.5
0.0
0.0
0.0
0.0
12.7
April
0.0
76.5
0.0
0.0
0.0
0.0
12.7
May
0.0
76.5
0.0
0.0
0.0
0.0
12.7
June
0.0
76.5
0.0
0.0
0.0
0.0
12.7
July
0.0
76.5
0.0
0.0
0.0
0.0
12.7
August
0.0
76.5
0.0
0.0
0.0
0.0
12.7
September
53.2
15.2
0.0
0.0
0.0
0.0
11.4
October
76.5
0.0
0.0
0.0
0.0
0.0
12.7
November
76.5
0.0
0.0
0.0
0.0
December
76.5
0.0
0.0
0.0
0.0
Total Year
23.6
42.7
0.0
0.0
0.0
15.3
15.3
13.3
January
-16.0
35.2
45.7
-5.7
-7.7
19.0
11.8
February
-13.7
53.1
29.9
2.0
-4.3
11.5
13.1
March
-16.9
86.8
22.9
2.8
-7.0
5.3
15.7
April
-26.3
59.0
44.4
-3.5
-6.7
17.8
14.1
May
-27.3
82.6
60.3
-10.0
-3.2
14.7
19.5
June
-21.4
84.3
39.4
3.7
-1.6
-6.9
16.3
July
-20.8
51.6
55.5
-4.4
6.0
-10.8
12.9
August
-11.8
68.5
45.4
-11.7
11.3
-11.0
15.1
September
-8.4
51.9
26.8
-12.3
18.3
-8.9
11.2
October
-2.2
57.8
15.8
-7.3
12.1
-4.0
12.0
November
21.7
50.5
-0.7
-3.4
15.9
December
28.3
54.6
0.7
-10.7
26.7
Total Year
-10.1
60.1
29.2
-4.8
3.9
16.8
19.9
15.7
January
-30.6
12.7
51.8
2.9
-5.9
20.9
8.6
February
-30.4
25.1
31.9
11.1
0.9
14.1
8.8
March
-29.6
66.5
28.1
13.6
-3.6
11.6
14.4
April
-42.1
38.7
56.0
3.4
-1.1
21.0
12.7
May
-42.1
67.5
71.6
-2.4
-1.1
14.3
18.0
June
-37.6
76.0
51.7
7.2
1.2
-8.8
14.9
July
-33.5
48.0
65.3
2.5
8.2
-12.4
13.0
August
-25.7
68.7
55.8
-9.6
14.7
-11.4
15.4
September
-25.1
51.3
33.6
-9.1
20.0
-6.6
10.7
October
-20.3
57.6
24.8
-2.4
15.8
-5.7
11.6
November
2.7
47.4
8.0
-0.8
17.0
December
7.9
56.6
5.6
-9.0
30.8
Total Year
-26.8
48.1
36.3
1.6
6.3
14.8
18.4
13.1
Oct YTD
-26.0
3.9
36.7
-4.4
0.8
2.7
2.3
ADR
2009
2010
2011
2012
2013
2014
Avg
Oct YTD
-18.4
-9.2
5.1
7.5
2.6
2.5
-1.7
RevPAR
2009
2010
2011
2012
2013
2014
Avg
Oct YTD
-39.7
-5.7
43.6
2.7
3.4
5.3
1.6
Supply
2009
2010
2011
2012
2013
2014
Avg
Oct YTD
13.0
56.1
0.0
0.0
0.0
0.0
11.5
Demand
2009
2010
2011
2012
2013
2014
Avg
Oct YTD
-16.4
62.2
36.7
-4.4
0.8
2.7
13.6
Revenue
2009
2010
2011
2012
2013
2014
Avg
Oct YTD
-31.8
47.3
43.6
2.7
3.4
5.3
11.8
STRs Trend Report is a publication of STR, Inc. and is intended solely for use by paid subscribers. Reproduction or distribution of the Trend Report, in whole or part, without written permission of STR is prohibited and subject to legal action. Site licenses are available.
Ownership, distribution and use of the Trend Report and its contents are subject to the terms set forth in the contract you have entered into with STR. Source 2014 STR, Inc.
51
01/22/2015
Tab 4 - Percent Change from Previous Year - Detail by Year

Occ
ADR
RevPAR
Supply
Demand
Revenue
Occ
ADR
RevPAR
Supply
Demand
Revenue
Occ
ADR
RevPAR
Supply
Demand
Revenue
Occ
ADR
RevPAR
Supply
Demand
Revenue
Occ
ADR
RevPAR
Supply
Demand
Revenue
Occ
ADR
RevPAR
Supply
Demand
Revenue
Staff: MB
Jan 09
Feb 09
Mar 09
Apr 09
May 09
Jun 09
Jul 09
Aug 09
Sep 09
Oct 09
Total Year
Oct YTD
-16.0
-17.5
-30.6
0.0
-16.0
-30.6
-13.7
-19.4
-30.4
0.0
-13.7
-30.4
-16.9
-15.3
-29.6
0.0
-16.9
-29.6
-26.3
-21.4
-42.1
0.0
-26.3
-42.1
-27.3
-20.4
-42.1
0.0
-27.3
-42.1
-21.4
-20.5
-37.6
0.0
-21.4
-37.6
-20.8
-16.0
-33.5
0.0
-20.8
-33.5
-11.8
-15.7
-25.7
0.0
-11.8
-25.7
-40.2
-18.3
-51.1
53.2
-8.4
-25.1
-44.6
-18.4
-54.8
76.5
-2.2
-20.3
Nov 09
-31.1
-15.6
-41.8
76.5
21.7
2.7
Dec 09
-27.3
-15.9
-38.9
76.5
28.3
7.9
-27.3
-18.6
-40.8
23.6
-10.1
-26.8
-26.0
-18.4
-39.7
13.0
-16.4
-31.8
Jan 10
Feb 10
Mar 10
Apr 10
May 10
Jun 10
Jul 10
Aug 10
Sep 10
Oct 10
Nov 10
Dec 10
Total Year
Oct YTD
-23.4
-16.6
-36.1
76.5
35.2
12.7
-13.2
-18.3
-29.1
76.5
53.1
25.1
5.8
-10.9
-5.7
76.5
86.8
66.5
-9.9
-12.8
-21.4
76.5
59.0
38.7
3.5
-8.3
-5.1
76.5
82.6
67.5
4.4
-4.5
-0.3
76.5
84.3
76.0
-14.1
-2.4
-16.2
76.5
51.6
48.0
-4.5
0.1
-4.4
76.5
68.5
68.7
31.8
-0.4
31.3
15.2
51.9
51.3
57.8
-0.2
57.6
0.0
57.8
57.6
50.5
-2.0
47.4
0.0
50.5
47.4
54.6
1.3
56.6
0.0
54.6
56.6
12.2
-7.5
3.8
42.7
60.1
48.1
3.9
-9.2
-5.7
56.1
62.2
47.3
Jan 11
Feb 11
Mar 11
Apr 11
May 11
Jun 11
Jul 11
Aug 11
Sep 11
Oct 11
Nov 11
Dec 11
Total Year
Oct YTD
45.7
4.1
51.8
0.0
45.7
51.8
29.9
1.5
31.9
0.0
29.9
31.9
22.9
4.2
28.1
0.0
22.9
28.1
44.4
8.0
56.0
0.0
44.4
56.0
60.3
7.0
71.6
0.0
60.3
71.6
39.4
8.8
51.7
0.0
39.4
51.7
55.5
6.3
65.3
0.0
55.5
65.3
45.4
7.1
55.8
0.0
45.4
55.8
26.8
5.3
33.6
0.0
26.8
33.6
15.8
7.8
24.8
0.0
15.8
24.8
-0.7
8.8
8.0
0.0
-0.7
8.0
0.7
4.9
5.6
0.0
0.7
5.6
29.2
5.5
36.3
0.0
29.2
36.3
36.7
5.1
43.6
0.0
36.7
43.6
Jan 12
Feb 12
Mar 12
Apr 12
May 12
Jun 12
Jul 12
Aug 12
Sep 12
Oct 12
Nov 12
Dec 12
Total Year
Oct YTD
-5.7
9.1
2.9
0.0
-5.7
2.9
2.0
8.9
11.1
0.0
2.0
11.1
2.8
10.5
13.6
0.0
2.8
13.6
-3.5
7.1
3.4
0.0
-3.5
3.4
-10.0
8.5
-2.4
0.0
-10.0
-2.4
3.7
3.3
7.2
0.0
3.7
7.2
-4.4
7.3
2.5
0.0
-4.4
2.5
-11.7
2.4
-9.6
0.0
-11.7
-9.6
-12.3
3.7
-9.1
0.0
-12.3
-9.1
-7.3
5.3
-2.4
0.0
-7.3
-2.4
-3.4
2.7
-0.8
0.0
-3.4
-0.8
-10.7
2.0
-9.0
0.0
-10.7
-9.0
-4.8
6.7
1.6
0.0
-4.8
1.6
-4.4
7.5
2.7
0.0
-4.4
2.7
Jan 13
Feb 13
Mar 13
Apr 13
May 13
Jun 13
Jul 13
Aug 13
Sep 13
Oct 13
Nov 13
Dec 13
Total Year
Oct YTD
-7.7
1.9
-5.9
0.0
-7.7
-5.9
-4.3
5.4
0.9
0.0
-4.3
0.9
-7.0
3.7
-3.6
0.0
-7.0
-3.6
-6.7
6.0
-1.1
0.0
-6.7
-1.1
-3.2
2.2
-1.1
0.0
-3.2
-1.1
-1.6
2.9
1.2
0.0
-1.6
1.2
6.0
2.0
8.2
0.0
6.0
8.2
11.3
3.1
14.7
0.0
11.3
14.7
18.3
1.5
20.0
0.0
18.3
20.0
12.1
3.3
15.8
0.0
12.1
15.8
15.9
0.9
17.0
0.0
15.9
17.0
26.7
3.2
30.8
0.0
26.7
30.8
3.9
2.3
6.3
0.0
3.9
6.3
0.8
2.6
3.4
0.0
0.8
3.4
Jan 14
Feb 14
Mar 14
Apr 14
May 14
Jun 14
Jul 14
Aug 14
Sep 14
Oct 14
Nov 14
Dec 14
Total Year
Oct YTD
19.0
1.5
20.9
0.0
19.0
20.9
11.5
2.4
14.1
0.0
11.5
14.1
5.3
5.9
11.6
0.0
5.3
11.6
17.8
2.7
21.0
0.0
17.8
21.0
14.7
-0.4
14.3
0.0
14.7
14.3
-6.9
-2.1
-8.8
0.0
-6.9
-8.8
-10.8
-1.9
-12.4
0.0
-10.8
-12.4
-11.0
-0.4
-11.4
0.0
-11.0
-11.4
-8.9
2.6
-6.6
0.0
-8.9
-6.6
-4.0
-1.8
-5.7
0.0
-4.0
-5.7
2.7
2.5
5.3
0.0
2.7
5.3
52
01/22/2015
Tab 5 - Twelve Month Moving Average

Staff: MB
Occupancy (%)
January
66.2
2009
February
65.3
March
64.1
April
62.4
May
61.0
June
60.1
July
59.0
August
58.5
September
55.6
October
52.2
November
50.5
December
48.9
2010
47.9
48.0
49.4
49.2
49.1
49.1
48.4
48.2
49.1
51.0
53.0
54.8
2011
2012
2013
56.7
70.5
67.0
58.1
70.6
66.8
59.6
70.8
66.2
61.5
70.6
65.8
63.8
70.0
65.6
65.3
70.2
65.5
67.2
70.0
65.8
68.9
69.3
66.4
70.0
68.7
67.2
70.9
68.2
67.9
70.8
68.0
68.9
70.8
67.5
70.1
2014
71.1
71.8
72.2
73.1
73.9
73.6
73.0
72.4
71.9
71.7
ADR ($)
January
February
April
May
June
July
September
October
November
December
2009
116.54
113.28
110.84
March
108.08
106.50
105.37
104.66
August
103.83
102.22
100.15
98.30
96.84
2010
95.21
93.67
93.42
92.47
91.73
90.98
90.47
89.99
89.85
89.79
89.58
89.59
2011
2012
2013
2014
90.34
95.21
100.93
103.51
90.89
96.11
101.44
103.99
91.80
97.42
101.77
104.90
92.52
98.01
102.29
105.27
92.76
98.69
102.48
105.17
92.92
98.86
102.70
105.13
92.76
99.34
102.76
105.18
92.77
99.65
102.80
105.32
93.00
99.96
102.80
105.55
93.54
100.41
103.08
105.40
94.20
100.65
103.11
94.50
100.84
103.20
January
77.17
February
74.01
April
67.48
May
65.00
June
63.27
July
61.76
August
60.72
September
56.84
October
52.31
November
49.64
December
47.33
RevPAR ($)
2009
March
71.08
2010
45.59
44.96
46.15
45.48
45.07
44.66
43.79
43.35
44.08
45.80
47.50
49.11
2011
2012
2013
51.21
67.13
67.66
52.84
67.87
67.73
54.68
69.02
67.38
56.86
69.22
67.32
59.19
69.09
67.26
60.66
69.40
67.31
62.30
69.51
67.66
63.91
69.07
68.26
65.11
68.64
69.13
66.28
68.50
70.03
66.70
68.46
70.99
66.95
68.03
72.31
2014
73.55
74.62
75.69
76.99
77.76
77.35
76.77
76.24
75.90
75.52
January
February
April
May
June
July
September
October
November
December
2009
208,050
208,050
208,050
208,050
208,050
208,050
208,050
208,050
217,140
230,656
243,736
257,252
2010
270,768
282,976
296,492
309,572
323,088
336,168
349,684
363,200
367,190
367,190
367,190
367,190
2011
2012
2013
2014
367,190
367,190
367,190
367,190
367,190
367,190
367,190
367,190
367,190
367,190
367,190
367,190
367,190
367,190
367,190
367,190
367,190
367,190
367,190
367,190
367,190
367,190
367,190
367,190
367,190
367,190
367,190
367,190
367,190
367,190
367,190
367,190
367,190
367,190
367,190
367,190
367,190
367,190
367,190
367,190
367,190
367,190
367,190
367,190
367,190
367,190
January
February
April
May
June
July
October
November
December
2009
137,768
135,929
133,428
129,908
126,976
124,938
122,776
121,665
120,752
120,469
123,077
125,736
2010
2011
2012
2013
129,640
208,146
258,871
246,158
135,815
213,473
259,324
245,153
146,462
218,722
260,125
243,117
152,273
225,669
259,345
241,649
158,732
234,281
257,054
240,996
165,029
239,710
257,770
240,671
169,267
246,622
256,910
241,790
174,964
252,990
254,523
243,826
180,159
257,070
252,152
246,916
187,321
260,158
250,499
249,460
194,717
259,995
249,746
252,820
201,285
260,126
247,742
257,292
2014
260,914
263,501
264,936
268,559
271,488
270,143
268,030
265,819
264,031
263,099
Supply
March
August
Demand
March
August
September
Revenue ($)
January
February
April
May
June
July
November
December
2009
16,054,955
15,397,522
14,788,684
14,040,180
13,522,489
13,164,136
12,849,675
12,633,000
12,343,320
12,064,749
12,099,064
12,175,663
2010
2011
2012
2013
12,343,037
18,802,967
24,647,850
24,844,530
12,721,258
19,403,000
24,922,622
24,868,745
13,682,416
20,079,249
25,341,918
24,742,715
14,080,494
20,877,992
25,417,554
24,717,633
14,561,251
21,732,382
25,368,899
24,696,611
15,013,969
22,274,392
25,483,374
24,717,336
15,313,228
22,877,223
25,521,864
24,845,230
15,744,849
23,468,779
25,363,296
25,064,967
16,187,549
23,907,218
25,205,079
25,382,224
16,818,800
24,335,971
25,153,601
25,715,103
17,441,981
24,490,561
25,136,020
26,067,193
18,033,657
24,583,073
24,981,179
26,552,651
2014
27,007,858
27,401,148
27,792,498
28,271,206
28,553,160
28,400,568
28,190,314
27,995,106
27,869,700
27,730,308
High value is boxed.
March
August
September
October
Low value is boxed and italicized.
53
01/22/2015
Tab 6 - Twelve Month Moving Average with Percent Change

Date
This Year
Jan 09
Feb 09
Mar 09
Apr 09
May 09
Jun 09
Jul 09
Aug 09
Sep 09
Oct 09
Nov 09
Dec 09
Jan 10
Feb 10
Mar 10
Apr 10
May 10
Jun 10
Jul 10
Aug 10
Sep 10
Oct 10
Nov 10
Dec 10
Jan 11
Feb 11
Mar 11
Apr 11
May 11
Jun 11
Jul 11
Aug 11
Sep 11
Oct 11
Nov 11
Dec 11
Jan 12
Feb 12
Mar 12
Apr 12
May 12
Jun 12
Jul 12
Aug 12
Sep 12
Oct 12
Nov 12
Dec 12
Jan 13
Feb 13
Mar 13
Apr 13
May 13
Jun 13
Jul 13
Aug 13
Sep 13
Oct 13
Nov 13
Dec 13
Jan 14
Feb 14
Mar 14
Apr 14
May 14
Jun 14
Jul 14
Aug 14
Sep 14
Oct 14
Staff: MB
Occupancy
66.2
65.3
64.1
62.4
61.0
60.1
59.0
58.5
55.6
52.2
50.5
48.9
47.9
48.0
49.4
49.2
49.1
49.1
48.4
48.2
49.1
51.0
53.0
54.8
56.7
58.1
59.6
61.5
63.8
65.3
67.2
68.9
70.0
70.9
70.8
70.8
70.5
70.6
70.8
70.6
70.0
70.2
70.0
69.3
68.7
68.2
68.0
67.5
67.0
66.8
66.2
65.8
65.6
65.5
65.8
66.4
67.2
67.9
68.9
70.1
71.1
71.8
72.2
73.1
73.9
73.6
73.0
72.4
71.9
71.7

ADR
% Chg
-27.3
-27.7
-26.5
-23.0
-21.2
-19.5
-18.3
-18.0
-17.6
-11.8
-2.3
5.0
12.2
18.4
21.1
20.6
24.9
29.9
33.0
38.8
43.0
42.7
38.9
33.5
29.2
24.4
21.5
18.9
14.9
9.7
7.5
4.2
0.6
-1.9
-3.7
-3.9
-4.8
-4.9
-5.5
-6.5
-6.8
-6.2
-6.6
-5.9
-4.2
-2.1
-0.4
1.2
3.9
6.0
7.5
9.0
11.1
12.7
12.2
10.9
9.0
6.9
5.5
This Year
RevPar
% Chg
This Year
116.54
77.17
113.28
74.01
110.84
71.08
108.08
67.48
106.50
65.00
105.37
63.27
104.66
61.76
103.83
60.72
102.22
56.84
100.15
52.31
98.30
96.84
95.21
93.67
93.42
92.47
91.73
90.98
90.47
89.99
89.85
89.79
89.58
89.59
90.34
90.89
91.80
92.52
92.76
92.92
92.76
92.77
93.00
93.54
94.20
94.50
95.21
96.11
97.42
98.01
98.69
98.86
99.34
99.65
99.96
100.41
100.65
100.84
100.93
101.44
101.77
102.29
102.48
102.70
102.76
102.80
102.80
103.08
103.11
103.20
103.51
103.99
104.90
105.27
105.17
105.13
105.18
105.32
105.55
-18.6
-18.3
-17.3
-15.7
-14.4
-13.9
-13.7
-13.6
-13.3
-12.1
-10.3
-8.9
-7.5
-5.1
-3.0
-1.7
0.1
1.1
2.1
2.5
3.1
3.5
4.2
5.2
5.5
5.4
5.7
6.1
5.9
6.4
6.4
7.1
7.4
7.5
7.3
6.8
6.7
6.0
5.6
4.5
4.4
3.8
3.9
3.4
3.2
2.8
2.7
2.4
2.3
2.6
2.5
3.1
2.9
2.6
2.4
2.4
2.4
2.7
2.2
49.64
47.33
45.59
44.96
46.15
45.48
45.07
44.66
43.79
43.35
44.08
45.80
47.50
49.11
51.21
52.84
54.68
56.86
59.19
60.66
62.30
63.91
65.11
66.28
66.70
66.95
67.13
67.87
69.02
69.22
69.09
69.40
69.51
69.07
68.64
68.50
68.46
68.03
67.66
67.73
67.38
67.32
67.26
67.31
67.66
68.26
69.13
70.03
70.99
72.31
73.55
74.62
75.69
76.99
77.76
77.35
76.77
76.24
75.90
Supply
% Chg
This Year
208,050
208,050
208,050
208,050
208,050
208,050
208,050
208,050
217,140
230,656
243,736
257,252
270,768
282,976
296,492
309,572
323,088
336,168
349,684
363,200
367,190
367,190
367,190
367,190
367,190
367,190
367,190
367,190
367,190
367,190
367,190
367,190
367,190
367,190
367,190
367,190
367,190
367,190
367,190
367,190
367,190
367,190
367,190
367,190
367,190
367,190
367,190
367,190
367,190
367,190
367,190
367,190
367,190
367,190
367,190
367,190
367,190
367,190
367,190
367,190
367,190
367,190
367,190
367,190
367,190
367,190
367,190
367,190
367,190
367,190
-40.8
-40.9
-39.3
-35.1
-32.6
-30.7
-29.4
-29.1
-28.6
-22.4
-12.4
-4.3
3.8
12.3
17.5
18.5
25.0
31.3
35.8
42.3
47.4
47.7
44.7
40.4
36.3
31.1
28.4
26.2
21.7
16.7
14.4
11.6
8.1
5.4
3.4
2.6
1.6
0.8
-0.2
-2.4
-2.8
-2.7
-3.0
-2.7
-1.2
0.7
2.2
3.7
6.3
8.7
10.2
12.3
14.4
15.6
14.9
13.5
11.7
9.8
7.8
Demand
% Chg
23.6
30.1
36.0
42.5
48.8
55.3
61.6
68.1
74.6
69.1
59.2
50.7
42.7
35.6
29.8
23.8
18.6
13.7
9.2
5.0
1.1
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
This Year
137,768
135,929
133,428
129,908
126,976
124,938
122,776
121,665
120,752
120,469
123,077
125,736
129,640
135,815
146,462
152,273
158,732
165,029
169,267
174,964
180,159
187,321
194,717
201,285
208,146
213,473
218,722
225,669
234,281
239,710
246,622
252,990
257,070
260,158
259,995
260,126
258,871
259,324
260,125
259,345
257,054
257,770
256,910
254,523
252,152
250,499
249,746
247,742
246,158
245,153
243,117
241,649
240,996
240,671
241,790
243,826
246,916
249,460
252,820
257,292
260,914
263,501
264,936
268,559
271,488
270,143
268,030
265,819
264,031
263,099
Revenue
% Chg
-10.1
-5.9
-0.1
9.8
17.2
25.0
32.1
37.9
43.8
49.2
55.5
58.2
60.1
60.6
57.2
49.3
48.2
47.6
45.3
45.7
44.6
42.7
38.9
33.5
29.2
24.4
21.5
18.9
14.9
9.7
7.5
4.2
0.6
-1.9
-3.7
-3.9
-4.8
-4.9
-5.5
-6.5
-6.8
-6.2
-6.6
-5.9
-4.2
-2.1
-0.4
1.2
3.9
6.0
7.5
9.0
11.1
12.7
12.2
10.9
9.0
6.9
5.5
This Year
16,054,955
15,397,522
14,788,684
14,040,180
13,522,489
13,164,136
12,849,675
12,633,000
12,343,320
12,064,749
12,099,064
12,175,663
12,343,037
12,721,258
13,682,416
14,080,494
14,561,251
15,013,969
15,313,228
15,744,849
16,187,549
16,818,800
17,441,981
18,033,657
18,802,967
19,403,000
20,079,249
20,877,992
21,732,382
22,274,392
22,877,223
23,468,779
23,907,218
24,335,971
24,490,561
24,583,073
24,647,850
24,922,622
25,341,918
25,417,554
25,368,899
25,483,374
25,521,864
25,363,296
25,205,079
25,153,601
25,136,020
24,981,179
24,844,530
24,868,745
24,742,715
24,717,633
24,696,611
24,717,336
24,845,230
25,064,967
25,382,224
25,715,103
26,067,193
26,552,651
27,007,858
27,401,148
27,792,498
28,271,206
28,553,160
28,400,568
28,190,314
27,995,106
27,869,700
27,730,308
% Chg
-26.8
-23.1
-17.4
-7.5
0.3
7.7
14.1
19.2
24.6
31.1
39.4
44.2
48.1
52.3
52.5
46.8
48.3
49.2
48.4
49.4
49.1
47.7
44.7
40.4
36.3
31.1
28.4
26.2
21.7
16.7
14.4
11.6
8.1
5.4
3.4
2.6
1.6
0.8
-0.2
-2.4
-2.8
-2.7
-3.0
-2.7
-1.2
0.7
2.2
3.7
6.3
8.7
10.2
12.3
14.4
15.6
14.9
13.5
11.7
9.8
7.8
105.40
75.52
STRs Trend Report is a publication of STR, Inc. and is intended solely for use by paid subscribers. Reproduction or distribution of the Trend Report, in whole or part, without written permission of
STR is prohibited and subject to legal action. Site licenses are available. Ownership, distribution and use of the Trend Report and its contents are subject to the terms set forth in the contract you have
entered into with STR. Source 2014 STR, Inc.
54
01/22/2015
Tab 7 - Day of Week Analysis

Staff: MB
Occupancy (%)
Nov - 13
Dec - 13
Jan - 14
Feb - 14
Mar - 14
Apr - 14
May - 14
Jun - 14
Jul - 14
Aug - 14
Sep - 14
Oct - 14
Total Year
Three Year Occupancy (%)

Sun
Mon
54.2
64.8
68.5
Tue
Wed
Thu
73.3
77.8
70.7
78.9
83.8
59.1
81.9
92.5
74.1
89.9
72.0
58.9
Sat
Total Month
70.5
68.0
83.3
82.3
82.7
82.1
71.6
61.7
59.9
72.6
97.3
97.6
93.3
91.5
81.4
89.3
90.0
98.8
98.8
95.8
93.7
92.1
90.9
73.2
84.7
85.3
76.5
69.3
67.3
73.3
43.3
62.3
64.6
61.8
55.5
52.2
49.7
56.1
48.2
60.4
70.0
70.8
63.0
53.3
54.5
60.4
52.8
56.8
75.5
73.5
84.0
81.4
81.3
80.9
71.6
73.2
67.7
68.0
73.3
67.8
72.4
71.7
Sun
Mon
Tue
Wed
Thu
Fri
Sat
Total Month
86.88
97.17
62.0
46.8
44.1
81.9
62.9
63.6
88.9
75.9
70.4
87.7
Fri
89.1
73.5
67.8
80.3
62.1
59.3
67.7
75.9
52.8
49.9
73.4
51.8
51.3
81.2
Mon
70.2
Tue
79.9
Wed
79.9
Thu
70.1
Fri
62.7
Sat
61.3
Total Year
68.2
71.7
80.8
80.0
69.2
60.7
60.2
67.9
56.8
54.2
73.5
71.8
81.4
80.7
80.9
80.3
73.2
70.8
68.0
63.8
67.8
63.1
71.7
69.3
60.4
57.1
Three Year ADR

99.83
106.37
106.60
104.88
98.96
90.85
90.10
113.91
122.92
124.38
122.40
116.29
105.50
102.61
116.51
123.39
129.76
131.65
130.70
127.28
120.82
117.90
126.22
127.36
134.13
138.28
139.07
133.44
128.79
128.55
132.82
98.59
104.96
106.16
105.09
101.60
88.35
87.35
98.79
85.19
88.91
87.62
88.46
84.48
76.97
76.57
84.67
97.67
100.37
103.21
102.29
97.71
88.35
86.97
97.53
99.86
103.89
107.32
109.99
109.16
110.84
109.13
110.86
102.04
105.99
92.34
97.34
88.97
96.23
101.72
105.40
Sun
Mon
Tue
Wed
Thu
Fri
Sat
Total Month
94.97
111.50
85.29
85.48
101.73
121.40
89.67
89.15
102.56
122.00
91.07
89.11
103.42
121.99
89.51
89.29
97.66
115.64
86.80
86.40
89.64
102.12
79.06
78.28
101.37
77.06
77.54
99.05
Nov 11 - Oct 12
Nov 12 - Oct 13
Nov 13 - Oct 14
Total 3 Yr
Sun
99.43
Mon
104.01
Tue
104.71
Wed
104.22
Thu
101.68
Fri
93.21
Sat
92.30
Total Year
100.41
100.90
107.25
108.51
108.21
103.94
94.54
93.54
103.08
Sun
52.65
Mon
73.05
Tue
83.67
Wed
83.25
Thu
71.31
Fri
58.43
Sat
56.59
Total Year
68.50
53.46
76.86
87.68
86.58
71.92
57.38
56.31
70.03
103.89
101.47
109.99
107.13
110.84
108.02
110.86
107.76
105.99
103.90
97.34
95.12
96.23
94.10
105.40
103.01
114.89
86.24
85.13
RevPAR
Nov - 13
Dec - 13
Jan - 14
Feb - 14
Mar - 14
Apr - 14
May - 14
Jun - 14
Jul - 14
Aug - 14
Sep - 14
Oct - 14
Total Year
Sun
53.0
53.0
79.4
ADR
Nov - 13
Dec - 13
Jan - 14
Feb - 14
Mar - 14
Apr - 14
May - 14
Jun - 14
Jul - 14
Aug - 14
Sep - 14
Oct - 14
Total Year
Nov 11 - Oct 12
Nov 12 - Oct 13
Nov 13 - Oct 14
Total 3 Yr
Three Year RevPAR

68.42
83.90
89.38
92.01
67.29
100.72
115.04
100.50
91.47
116.67
128.16
127.52
91.69
120.73
136.64
137.35
58.09
76.85
89.88
89.65
36.92
55.37
56.63
47.11
60.66
52.69
59.00
81.08
80.80
51.47
69.11
39.92
37.67
65.95
99.45
56.39
56.74
74.80
74.53
83.27
65.12
61.51
84.60
118.78
110.59
96.02
112.75
127.87
120.73
118.41
120.79
77.69
61.23
58.78
72.46
54.71
46.93
40.17
38.06
47.53
72.25
72.37
61.55
47.07
47.40
58.89
91.69
90.24
88.73
89.73
73.07
77.61
62.54
66.19
65.22
65.24
73.69
75.52
75.14
108.40
69.14
62.72
80.44
108.68
65.80
60.57
82.48
69.07
92.81
53.91
51.27
60.68
77.52
41.77
39.10
61.21
74.36
39.95
39.79
80.38
66.08
Nov 11 - Oct 12
Nov 12 - Oct 13
Nov 13 - Oct 14
Total 3 Yr
59.00
55.04
80.80
76.91
90.24
87.18
89.73
86.50
77.61
73.60
66.19
60.70
65.24
59.38
91.28
52.13
48.64
55
01/22/2015
75.52
71.35
Tab 8 - Raw Data

Date
Occupancy
This Year
Jan 08
Feb 08
Mar 08
Apr 08
May 08
Jun 08
Jul 08
Aug 08
Sep 08
Oct 08
Nov 08
Dec 08
Jan 09
Feb 09
Mar 09
Apr 09
May 09
Jun 09
Jul 09
Aug 09
Sep 09
Oct 09
Nov 09
Dec 09
Jan 10
Feb 10
Mar 10
Apr 10
May 10
Jun 10
Jul 10
Aug 10
Sep 10
Oct 10
Nov 10
Dec 10
Jan 11
Feb 11
Mar 11
Apr 11
May 11
Jun 11
Jul 11
Aug 11
Sep 11
Oct 11
Nov 11
Dec 11
Jan 12
Feb 12
Mar 12
Apr 12
May 12
Jun 12
Jul 12
Aug 12
Sep 12
Oct 12
Nov 12
Dec 12
Jan 13
Feb 13
Mar 13
Apr 13
May 13
Jun 13
Jul 13
Aug 13
Sep 13
Oct 13
Nov 13
Dec 13
Jan 14
Feb 14
Mar 14
Apr 14
May 14
Jun 14
Jul 14
Aug 14
Sep 14
Oct 14
74.7
84.4
83.6
78.2
60.8
55.6
58.7
53.4
63.9
71.7
70.4
53.1
62.8
72.8
69.4
57.6
44.2
43.7
46.5
47.1
38.2
39.7
48.5
38.6
48.1
63.2
73.5
51.9
45.8
45.6
39.9
44.9
50.4
62.7
73.1
59.7
70.1
82.1
90.3
74.9
73.4
63.6
62.1
65.4
63.9
72.6
72.5
60.1
66.1
83.7
92.9
72.3
66.0
66.0
59.3
57.7
56.1
67.3
70.0
53.7
61.0
80.1
86.3
67.4
64.0
64.9
62.9
64.2
66.3
75.4
81.2
68.0
72.6
89.3
90.9
79.4
73.3
60.4
56.1
57.1
60.4
72.4
% Chg
Staff: MB
ADR
This Year
RevPar
% Chg
143.96
107.57
160.64
135.51
139.09
116.23
132.99
103.93
114.43
69.62
100.36
55.80
90.48
53.11
89.57
47.80
105.42
67.37
108.54
77.80
106.22
118.81
129.50
117.81
104.50
91.12
79.77
76.01
75.49
86.11
88.52
89.66
86.87
99.05
105.82
105.02
91.14
83.57
76.17
74.17
75.60
85.80
88.38
87.85
88.00
103.15
107.39
109.45
98.47
89.46
82.86
78.83
81.00
90.38
95.27
95.56
92.32
112.58
116.98
120.91
105.45
97.04
85.63
84.57
82.93
93.70
100.32
98.14
94.13
114.77
123.26
125.37
111.83
99.17
88.11
86.27
85.47
95.09
103.62
99.05
97.17
116.51
126.22
132.82
114.89
98.79
86.24
84.67
85.13
97.53
Supply
% Chg
74.81
103.32
-16.0
-13.7
-16.9
-26.3
-27.3
-21.4
-20.8
-11.8
-40.2
-44.6
-31.1
-27.3
-23.4
-13.2
5.8
-9.9
3.5
4.4
-14.1
-4.5
31.8
57.8
50.5
54.6
45.7
29.9
22.9
44.4
60.3
39.4
55.5
45.4
26.8
15.8
-0.7
0.7
-5.7
2.0
2.8
-3.5
-10.0
3.7
-4.4
-11.7
-12.3
-7.3
-3.4
-10.7
-7.7
-4.3
-7.0
-6.7
-3.2
-1.6
6.0
11.3
18.3
12.1
15.9
26.7
19.0
11.5
5.3
17.8
14.7
-6.9
-10.8
-11.0
-8.9
-4.0
This Year
54.85
-17.5
-19.4
-15.3
-21.4
-20.4
-20.5
-16.0
-15.7
-18.3
-18.4
-15.6
-15.9
-16.6
-18.3
-10.9
-12.8
-8.3
-4.5
-2.4
0.1
-0.4
-0.2
-2.0
1.3
4.1
1.5
4.2
8.0
7.0
8.8
6.3
7.1
5.3
7.8
8.8
4.9
9.1
8.9
10.5
7.1
8.5
3.3
7.3
2.4
3.7
5.3
2.7
2.0
1.9
5.4
3.7
6.0
2.2
2.9
2.0
3.1
1.5
3.3
0.9
3.2
1.5
2.4
5.9
2.7
-0.4
-2.1
-1.9
-0.4
2.6
-1.8
74.61
94.32
81.77
60.16
40.32
34.85
35.32
35.53
32.93
35.15
43.53
33.54
47.64
66.87
77.15
47.28
38.26
34.75
29.61
33.97
43.24
55.39
64.18
52.51
72.31
88.17
98.84
73.74
65.66
52.70
48.94
52.94
57.77
69.14
69.30
55.48
74.39
97.92
112.28
76.25
64.10
56.50
50.17
47.86
52.53
67.49
68.72
50.51
70.01
98.78
108.24
75.42
63.42
57.18
54.27
54.90
63.04
78.16
80.38
66.08
84.60
112.75
120.79
91.28
72.46
52.13
47.53
48.64
58.89
-30.6
-30.4
-29.6
-42.1
-42.1
-37.6
-33.5
-25.7
-51.1
-54.8
-41.8
-38.9
-36.1
-29.1
-5.7
-21.4
-5.1
-0.3
-16.2
-4.4
31.3
57.6
47.4
56.6
51.8
31.9
28.1
56.0
71.6
51.7
65.3
55.8
33.6
24.8
8.0
5.6
2.9
11.1
13.6
3.4
-2.4
7.2
2.5
-9.6
-9.1
-2.4
-0.8
-9.0
-5.9
0.9
-3.6
-1.1
-1.1
1.2
8.2
14.7
20.0
15.8
17.0
30.8
20.9
14.1
11.6
21.0
14.3
-8.8
-12.4
-11.4
-6.6
-5.7
This Year
17,670
15,960
17,670
17,100
17,670
17,100
17,670
17,670
17,100
17,670
17,100
17,670
17,670
15,960
17,670
17,100
17,670
17,100
17,670
17,670
26,190
31,186
30,180
31,186
31,186
28,168
31,186
30,180
31,186
30,180
31,186
31,186
30,180
31,186
30,180
31,186
31,186
28,168
31,186
30,180
31,186
30,180
31,186
31,186
30,180
31,186
30,180
31,186
31,186
28,168
31,186
30,180
31,186
30,180
31,186
31,186
30,180
31,186
30,180
31,186
31,186
28,168
31,186
30,180
31,186
30,180
31,186
31,186
30,180
31,186
30,180
31,186
31,186
28,168
31,186
30,180
31,186
30,180
31,186
31,186
30,180
31,186
Demand
% Chg
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
53.2
76.5
76.5
76.5
76.5
76.5
76.5
76.5
76.5
76.5
76.5
76.5
15.2
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
This Year
Revenue
% Chg
13,204
13,463
14,766
13,364
10,750
9,508
10,372
9,429
10,928
12,666
12,044
9,381
11,097
11,624
12,265
9,844
7,818
7,470
8,210
8,318
10,015
12,383
14,652
12,040
15,001
17,799
22,912
15,655
14,277
13,767
12,448
14,015
15,210
19,545
22,048
18,608
21,862
23,126
28,161
22,602
22,889
19,196
19,360
20,383
19,290
22,633
21,885
18,739
20,607
23,579
28,962
21,822
20,598
19,912
18,500
17,996
16,919
20,980
21,132
16,735
19,023
22,574
26,926
20,354
19,945
19,587
19,619
20,032
20,009
23,524
24,492
21,207
22,645
25,161
28,361
23,977
22,874
18,242
17,506
17,821
18,221
22,592
-16.0
-13.7
-16.9
-26.3
-27.3
-21.4
-20.8
-11.8
-8.4
-2.2
21.7
28.3
35.2
53.1
86.8
59.0
82.6
84.3
51.6
68.5
51.9
57.8
50.5
54.6
45.7
29.9
22.9
44.4
60.3
39.4
55.5
45.4
26.8
15.8
-0.7
0.7
-5.7
2.0
2.8
-3.5
-10.0
3.7
-4.4
-11.7
-12.3
-7.3
-3.4
-10.7
-7.7
-4.3
-7.0
-6.7
-3.2
-1.6
6.0
11.3
18.3
12.1
15.9
26.7
19.0
11.5
5.3
17.8
14.7
-6.9
-10.8
-11.0
-8.9
-4.0
This Year
1,900,818
2,162,739
2,053,793
1,777,222
1,230,103
954,251
938,497
844,562
1,152,066
1,374,708
1,279,322
969,273
1,318,419
1,505,306
1,444,955
1,028,718
712,412
595,898
624,036
627,887
862,386
1,096,137
1,313,637
1,045,872
1,485,793
1,883,527
2,406,113
1,426,796
1,193,169
1,048,616
923,295
1,059,508
1,305,086
1,727,388
1,936,818
1,637,548
2,255,103
2,483,560
3,082,362
2,225,539
2,047,559
1,590,626
1,526,126
1,651,064
1,743,525
2,156,141
2,091,408
1,730,060
2,319,880
2,758,332
3,501,658
2,301,175
1,998,904
1,705,101
1,564,616
1,492,496
1,585,308
2,104,663
2,073,827
1,575,219
2,183,231
2,782,547
3,375,628
2,276,093
1,977,882
1,725,826
1,692,510
1,712,233
1,902,565
2,437,542
2,425,917
2,060,677
2,638,438
3,175,837
3,766,978
2,754,801
2,259,836
1,573,234
1,482,256
1,517,025
1,777,159
2,298,150
% Chg
Census Props
-30.6
-30.4
-29.6
-42.1
-42.1
-37.6
-33.5
-25.7
-25.1
-20.3
2.7
7.9
12.7
25.1
66.5
38.7
67.5
76.0
48.0
68.7
51.3
57.6
47.4
56.6
51.8
31.9
28.1
56.0
71.6
51.7
65.3
55.8
33.6
24.8
8.0
5.6
2.9
11.1
13.6
3.4
-2.4
7.2
2.5
-9.6
-9.1
-2.4
-0.8
-9.0
-5.9
0.9
-3.6
-1.1
-1.1
1.2
8.2
14.7
20.0
15.8
17.0
30.8
20.9
14.1
11.6
21.0
14.3
-8.8
-12.4
-11.4
-6.6
-5.7
5
5
5
5
5
5
5
5
5
5
5
5
5
5
5
5
5
5
5
5
7
8
8
8
8
8
8
8
8
8
8
8
8
8
8
8
8
8
8
8
8
8
8
8
8
8
8
8
8
8
8
8
8
8
8
8
8
8
8
8
8
8
8
8
8
8
8
8
8
8
8
8
8
8
8
8
8
8
8
8
8
8
Census & Sample %

% Rooms STAR
Census Rooms
Participants
570
570
570
570
570
570
570
570
570
570
570
570
570
570
570
570
570
570
570
570
873
1,006
1,006
1,006
1,006
1,006
1,006
1,006
1,006
1,006
1,006
1,006
1,006
1,006
1,006
1,006
1,006
1,006
1,006
1,006
1,006
1,006
1,006
1,006
1,006
1,006
1,006
1,006
1,006
1,006
1,006
1,006
1,006
1,006
1,006
1,006
1,006
1,006
1,006
1,006
1,006
1,006
1,006
1,006
1,006
1,006
1,006
1,006
1,006
1,006
1,006
1,006
1,006
1,006
1,006
1,006
1,006
1,006
1,006
1,006
1,006
1,006
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
82.8
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
101.72
73.69
STRs Trend Report is a publication of STR, Inc. and is intended solely for use by paid subscribers. Reproduction or distribution of the Trend Report, in whole or part, without written permission of STR is
prohibited and subject to legal action. Site licenses are available. Ownership, distribution and use of the Trend Report and its contents are subject to the terms set forth in the contract you have entered into with
STR. Source 2014 STR, Inc.
56
01/22/2015
Tab 9 - Classic
Date
Jan 08
Feb 08
Mar 08
Apr 08
May 08
Jun 08
Jul 08
Aug 08
Sep 08
Oct 08
Nov 08
Dec 08
Oct YTD 2008
Total 2008
Jan 09
Feb 09
Mar 09
Apr 09
May 09
Jun 09
Jul 09
Aug 09
Sep 09
Oct 09
Nov 09
Dec 09
Oct YTD 2009
Total 2009
Jan 10
Feb 10
Mar 10
Apr 10
May 10
Jun 10
Jul 10
Aug 10
Sep 10
Oct 10
Nov 10
Dec 10
Oct YTD 2010
Total 2010
Jan 11
Feb 11
Mar 11
Apr 11
May 11
Jun 11
Jul 11
Aug 11
Sep 11
Oct 11
Nov 11
Dec 11
Oct YTD 2011
Total 2011
Jan 12
Feb 12
Mar 12
Apr 12
May 12
Jun 12
Jul 12
Aug 12
Sep 12
Oct 12
Nov 12
Dec 12
Oct YTD 2012
Total 2012
Jan 13
Feb 13
Mar 13
Apr 13
May 13
Jun 13
Jul 13
Aug 13
Sep 13
Oct 13
Nov 13
Dec 13
Oct YTD 2013
Total 2013
Jan 14
Feb 14
Mar 14
Apr 14
May 14
Jun 14
Jul 14
Aug 14
Sep 14
Oct 14
Oct YTD 2014
Staff: MB
Occupancy
This Year
74.7
84.4
83.6
78.2
60.8
55.6
58.7
53.4
63.9
71.7
70.4
53.1
68.4
67.2
62.8
72.8
69.4
57.6
44.2
43.7
46.5
47.1
38.2
39.7
48.5
38.6
50.6
48.9
48.1
63.2
73.5
51.9
45.8
45.6
39.9
44.9
50.4
62.7
73.1
59.7
52.5
54.8
70.1
82.1
90.3
74.9
73.4
63.6
62.1
65.4
63.9
72.6
72.5
60.1
71.8
70.8
66.1
83.7
92.9
72.3
66.0
66.0
59.3
57.7
56.1
67.3
70.0
53.7
68.6
67.5
61.0
80.1
86.3
67.4
64.0
64.9
62.9
64.2
66.3
75.4
81.2
68.0
69.2
70.1
72.6
89.3
90.9
79.4
73.3
60.4
56.1
57.1
60.4
72.4
71.1
% Chg

ADR
This Year
143.96
RevPar
% Chg
160.64
-16.0
-13.7
-16.9
-26.3
-27.3
-21.4
-20.8
-11.8
-40.2
-44.6
-31.1
-27.3
-26.0
-27.3
-23.4
-13.2
5.8
-9.9
3.5
4.4
-14.1
-4.5
31.8
57.8
50.5
54.6
3.9
12.2
45.7
29.9
22.9
44.4
60.3
39.4
55.5
45.4
26.8
15.8
-0.7
0.7
36.7
29.2
-5.7
2.0
2.8
-3.5
-10.0
3.7
-4.4
-11.7
-12.3
-7.3
-3.4
-10.7
-4.4
-4.8
-7.7
-4.3
-7.0
-6.7
-3.2
-1.6
6.0
11.3
18.3
12.1
15.9
26.7
0.8
3.9
19.0
11.5
5.3
17.8
14.7
-6.9
-10.8
-11.0
-8.9
-4.0
2.7
This Year
107.57
135.51
139.09
116.23
132.99
103.93
114.43
69.62
100.36
55.80
90.48
53.11
89.57
47.80
105.42
67.37
108.54
77.80
106.22
74.81
103.32
54.85
121.48
118.94
118.81
129.50
117.81
104.50
91.12
79.77
76.01
75.49
86.11
88.52
89.66
86.87
99.11
96.84
99.05
105.82
105.02
91.14
83.57
76.17
74.17
75.60
85.80
88.38
87.85
88.00
90.02
89.59
103.15
107.39
109.45
98.47
89.46
82.86
78.83
81.00
90.38
95.27
95.56
92.32
94.59
94.50
112.58
116.98
120.91
105.45
97.04
85.63
84.57
82.93
93.70
100.32
98.14
94.13
101.64
100.84
114.77
123.26
125.37
111.83
99.17
88.11
86.27
85.47
95.09
103.62
99.05
97.17
104.29
103.20
116.51
126.22
132.82
114.89
98.79
86.24
84.67
85.13
97.53
101.72
106.92
Supply
% Chg
-17.5
-19.4
-15.3
-21.4
-20.4
-20.5
-16.0
-15.7
-18.3
-18.4
-15.6
-15.9
-18.4
-18.6
-16.6
-18.3
-10.9
-12.8
-8.3
-4.5
-2.4
0.1
-0.4
-0.2
-2.0
1.3
-9.2
-7.5
4.1
1.5
4.2
8.0
7.0
8.8
6.3
7.1
5.3
7.8
8.8
4.9
5.1
5.5
9.1
8.9
10.5
7.1
8.5
3.3
7.3
2.4
3.7
5.3
2.7
2.0
7.5
6.7
1.9
5.4
3.7
6.0
2.2
2.9
2.0
3.1
1.5
3.3
0.9
3.2
2.6
2.3
1.5
2.4
5.9
2.7
-0.4
-2.1
-1.9
-0.4
2.6
-1.8
2.5
83.04
79.97
74.61
94.32
81.77
60.16
40.32
34.85
35.32
35.53
32.93
35.15
43.53
33.54
50.11
47.33
47.64
66.87
77.15
47.28
38.26
34.75
29.61
33.97
43.24
55.39
64.18
52.51
47.28
49.11
72.31
88.17
98.84
73.74
65.66
52.70
48.94
52.94
57.77
69.14
69.30
55.48
67.89
66.95
74.39
97.92
112.28
76.25
64.10
56.50
50.17
47.86
52.53
67.49
68.72
50.51
69.75
68.03
70.01
98.78
108.24
75.42
63.42
57.18
54.27
54.90
63.04
78.16
80.38
66.08
72.15
72.31
84.60
112.75
120.79
91.28
72.46
52.13
47.53
48.64
58.89
73.69
76.00
-30.6
-30.4
-29.6
-42.1
-42.1
-37.6
-33.5
-25.7
-51.1
-54.8
-41.8
-38.9
-39.7
-40.8
-36.1
-29.1
-5.7
-21.4
-5.1
-0.3
-16.2
-4.4
31.3
57.6
47.4
56.6
-5.7
3.8
51.8
31.9
28.1
56.0
71.6
51.7
65.3
55.8
33.6
24.8
8.0
5.6
43.6
36.3
2.9
11.1
13.6
3.4
-2.4
7.2
2.5
-9.6
-9.1
-2.4
-0.8
-9.0
2.7
1.6
-5.9
0.9
-3.6
-1.1
-1.1
1.2
8.2
14.7
20.0
15.8
17.0
30.8
3.4
6.3
20.9
14.1
11.6
21.0
14.3
-8.8
-12.4
-11.4
-6.6
-5.7
5.3
This Year
17,670
15,960
17,670
17,100
17,670
17,100
17,670
17,670
17,100
17,670
17,100
17,670
173,280
208,050
17,670
15,960
17,670
17,100
17,670
17,100
17,670
17,670
26,190
31,186
30,180
31,186
195,886
257,252
31,186
28,168
31,186
30,180
31,186
30,180
31,186
31,186
30,180
31,186
30,180
31,186
305,824
367,190
31,186
28,168
31,186
30,180
31,186
30,180
31,186
31,186
30,180
31,186
30,180
31,186
305,824
367,190
31,186
28,168
31,186
30,180
31,186
30,180
31,186
31,186
30,180
31,186
30,180
31,186
305,824
367,190
31,186
28,168
31,186
30,180
31,186
30,180
31,186
31,186
30,180
31,186
30,180
31,186
305,824
367,190
31,186
28,168
31,186
30,180
31,186
30,180
31,186
31,186
30,180
31,186
305,824
Demand
% Chg
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
53.2
76.5
76.5
76.5
13.0
23.6
76.5
76.5
76.5
76.5
76.5
76.5
76.5
76.5
15.2
0.0
0.0
0.0
56.1
42.7
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
This Year
13,204
13,463
14,766
13,364
10,750
9,508
10,372
9,429
10,928
12,666
12,044
9,381
118,450
139,875
11,097
11,624
12,265
9,844
7,818
7,470
8,210
8,318
10,015
12,383
14,652
12,040
99,044
125,736
15,001
17,799
22,912
15,655
14,277
13,767
12,448
14,015
15,210
19,545
22,048
18,608
160,629
201,285
21,862
23,126
28,161
22,602
22,889
19,196
19,360
20,383
19,290
22,633
21,885
18,739
219,502
260,126
20,607
23,579
28,962
21,822
20,598
19,912
18,500
17,996
16,919
20,980
21,132
16,735
209,875
247,742
19,023
22,574
26,926
20,354
19,945
19,587
19,619
20,032
20,009
23,524
24,492
21,207
211,593
257,292
22,645
25,161
28,361
23,977
22,874
18,242
17,506
17,821
18,221
22,592
217,400
Revenue
% Chg
-16.0
-13.7
-16.9
-26.3
-27.3
-21.4
-20.8
-11.8
-8.4
-2.2
21.7
28.3
-16.4
-10.1
35.2
53.1
86.8
59.0
82.6
84.3
51.6
68.5
51.9
57.8
50.5
54.6
62.2
60.1
45.7
29.9
22.9
44.4
60.3
39.4
55.5
45.4
26.8
15.8
-0.7
0.7
36.7
29.2
-5.7
2.0
2.8
-3.5
-10.0
3.7
-4.4
-11.7
-12.3
-7.3
-3.4
-10.7
-4.4
-4.8
-7.7
-4.3
-7.0
-6.7
-3.2
-1.6
6.0
11.3
18.3
12.1
15.9
26.7
0.8
3.9
19.0
11.5
5.3
17.8
14.7
-6.9
-10.8
-11.0
-8.9
-4.0
2.7
This Year
1,900,818
2,162,739
2,053,793
1,777,222
1,230,103
954,251
938,497
844,562
1,152,066
1,374,708
1,279,322
969,273
14,388,759
16,637,354
1,318,419
1,505,306
1,444,955
1,028,718
712,412
595,898
624,036
627,887
862,386
1,096,137
1,313,637
1,045,872
9,816,154
12,175,663
1,485,793
1,883,527
2,406,113
1,426,796
1,193,169
1,048,616
923,295
1,059,508
1,305,086
1,727,388
1,936,818
1,637,548
14,459,291
18,033,657
2,255,103
2,483,560
3,082,362
2,225,539
2,047,559
1,590,626
1,526,126
1,651,064
1,743,525
2,156,141
2,091,408
1,730,060
20,761,605
24,583,073
2,319,880
2,758,332
3,501,658
2,301,175
1,998,904
1,705,101
1,564,616
1,492,496
1,585,308
2,104,663
2,073,827
1,575,219
21,332,133
24,981,179
2,183,231
2,782,547
3,375,628
2,276,093
1,977,882
1,725,826
1,692,510
1,712,233
1,902,565
2,437,542
2,425,917
2,060,677
22,066,057
26,552,651
2,638,438
3,175,837
3,766,978
2,754,801
2,259,836
1,573,234
1,482,256
1,517,025
1,777,159
2,298,150
23,243,714
Census & Sample %

% Rooms STAR
Census Rooms
Participants
570
100.0
570
100.0
570
100.0
570
100.0
570
100.0
570
100.0
570
100.0
570
100.0
570
100.0
570
100.0
570
100.0
570
100.0
% Chg
Census Props
5
5
5
5
5
5
5
5
5
5
5
5
-30.6
-30.4
-29.6
-42.1
-42.1
-37.6
-33.5
-25.7
-25.1
-20.3
2.7
7.9
-31.8
-26.8
12.7
25.1
66.5
38.7
67.5
76.0
48.0
68.7
51.3
57.6
47.4
56.6
47.3
48.1
51.8
31.9
28.1
56.0
71.6
51.7
65.3
55.8
33.6
24.8
8.0
5.6
43.6
36.3
2.9
11.1
13.6
3.4
-2.4
7.2
2.5
-9.6
-9.1
-2.4
-0.8
-9.0
2.7
1.6
-5.9
0.9
-3.6
-1.1
-1.1
1.2
8.2
14.7
20.0
15.8
17.0
30.8
3.4
6.3
20.9
14.1
11.6
21.0
14.3
-8.8
-12.4
-11.4
-6.6
-5.7
5.3
5
5
5
5
5
5
5
5
7
8
8
8
570
570
570
570
570
570
570
570
873
1,006
1,006
1,006
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
82.8
100.0
100.0
100.0
8
8
8
8
8
8
8
8
8
8
8
8
1,006
1,006
1,006
1,006
1,006
1,006
1,006
1,006
1,006
1,006
1,006
1,006
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
8
8
8
8
8
8
8
8
8
8
8
8
1,006
1,006
1,006
1,006
1,006
1,006
1,006
1,006
1,006
1,006
1,006
1,006
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
8
8
8
8
8
8
8
8
8
8
8
8
1,006
1,006
1,006
1,006
1,006
1,006
1,006
1,006
1,006
1,006
1,006
1,006
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
8
8
8
8
8
8
8
8
8
8
8
8
1,006
1,006
1,006
1,006
1,006
1,006
1,006
1,006
1,006
1,006
1,006
1,006
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
8
8
8
8
8
8
8
8
8
8
1,006
1,006
1,006
1,006
1,006
1,006
1,006
1,006
1,006
1,006
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
STRs Trend Report is a publication of STR, Inc. and is intended solely for use by paid subscribers. Reproduction or distribution of the Trend Report, in whole or part, without written permission of STR is prohibited and subject to
legal action. Site licenses are available. Ownership, distribution and use of the Trend Report and its contents are subject to the terms set forth in the contract you have entered into with STR. Source 2014 STR, Inc.
57
01/22/2015
Tab 10 - Response Report

Staff: MB

2012
STR
Code
37195
18696
37727
33608
36311
59947
59788
59568
Name of Establishment
City & State

Phoenix, AZ
Chandler, AZ
Chandler, AZ
Chandler, AZ
Chandler, AZ
Chandler, AZ
Chandler, AZ
Chandler, AZ
Zip Code
85044
85226
85226
85226
85226
85286
85286
85286
Class
Upper Midscale Class
Upscale Class
Upscale Class
Upscale Class
Upscale Class
Upscale Class
Aff Date Open Date Rooms

Oct 1998
Oct 1998
125
Jan 2007
Oct 1987
159
Jan 2000
Jan 2000
102
May 1997
May 1997
101
Apr 1998
Apr 1998
83
Sep 2009
Sep 2009
153
Sep 2009
Sep 2009
150
Oct 2009
Oct 2009
133
Total Properties:
8
1006
126
Chg in
Rms
Y
Y
Y
2013
2014
J F M A M J J A S O N D J F M A M J J A S O N D J F M A M J

- Monthly data received by STR
- Monthly and daily data received by STR
Blank - No data received by STR
Y - (Chg in Rms) Property has experienced a room addition or drop during the time period of the report.
O N D
STRs Trend Report is a publication of STR, Inc. and is intended solely for use by paid subscribers. Reproduction or distribution of the Trend Report, in whole or part, without written permission of STR is prohibited and subject to legal action. Site licenses are available. Ownership, distribution and use of the Trend Report
and its contents are subject to the terms set forth in the contract you have entered into with STR. Source 2014 STR, Inc.
58
01/22/2015
Extended Stay Brand

(Example Residence Inn )
Maricopa, AZ
Number of Units: 125
Land Cost (LC)
$750,000
per room
$6,000
Development Costs (DC)
$2,000,000
per room
$16,000
Site Improvement & Building Construction (SI&BC)
$10,000,000
per room
$80,000
Furniture, Fixtures, & Equipment (FF&E)
$2,750,000
per room
$22,000
Pre-Opening & Working Capital (PO&WC)
$1,250,000
per room
$10,000
Total Project Costs:
$16,750,000
per room
Sources of Funding
Bank Loan
Expected Cash Injection
Total:
$134,000
$10,050,000
$6,700,000
$16,750,000
60%
40%
Debt Interest:
Debt Terms:
Debt Service:
5.50%
20
$829,592
* Pricing noted above estimated based on current cost per room of an extended stay hotel; pricing may vary based on land cost and confirmed build
59
01/22/2015
Rooms:
Numbers projected and compared to similar markets for a hotel with the following rooms:
125

Lodging Occupancy %
Total Occ. Rooms
Average Daily Rate (ADR)
Revenue Per Available Room (REVPAR)
January
3,875
65%
2,519
$119.00
$77.35
February
3,500
80%
2,800
$129.00
$103.20
March
3,875
85%
3,294
$129.00
$109.65
April
3,750
70%
2,625
$119.00
$83.30
May
3,875
65%
2,519
$109.00
$70.85
June
3,750
60%
2,250
$109.00
$65.40
July
3,875
55%
2,131
$99.00
$54.45
August
3,875
55%
2,131
$99.00
$54.45
September
3,750
60%
2,250
$109.00
$65.40
October
3,875
65%
2,519
$109.00
$70.85
November
3,750
70%
2,625
$119.00
$83.30
December
3,875
60%
2,325
$119.00
$71.40
TOTAL
45,625
65.7%
29,988
$115.01
$75.59
REVENUE:
Guest Rooms
Telephone / Misc. Revenue
Meeting Room Revenue
Market Revenue
299,731
126
2,519
3,148
361,200
140
2,800
3,500
424,894
165
3,294
4,117
312,375
131
2,625
3,281
274,544
126
2,519
3,148
245,250
113
2,250
2,813
210,994
107
2,131
2,664
210,994
107
2,131
2,664
245,250
113
2,250
2,813
274,544
126
2,519
3,148
312,375
131
2,625
3,281
276,675
116
2,325
2,906
3,448,825
1,499
29,988
37,484
TOTAL HOTEL REVENUE
305,524
367,640
432,469
318,413
280,337
250,425
215,896
215,896
250,425
280,337
318,413
282,023
3,517,796
Hotel Expenses
HOTEL PAYROLL EXPENSE
General Manager
Assistant Manager
Sales Manager
Operations Manager
Housekeeping
Laundry
Maintenance
Front Desk
Food and Beverage
Employee Benefits
Workers Comp Insurance
Payroll Tax
TOTAL HOTEL PAYROLL
5,417
3,750
4,167
2,500
11,334
2,141
2,519
6,000
3,778
1,664
882
5,519
49,670
5,417
3,750
4,167
2,500
12,600
2,380
2,800
6,000
4,200
1,753
980
5,818
52,364
5,417
3,750
4,167
2,500
14,822
2,800
3,294
6,000
4,941
1,908
1,153
6,344
57,093
5,417
3,750
4,167
2,500
11,813
2,231
2,625
6,000
3,938
1,698
919
5,632
50,688
5,417
3,750
4,167
2,500
11,334
2,141
2,519
6,000
3,778
1,664
882
5,519
49,670
5,417
3,750
4,167
2,500
10,125
1,913
2,250
6,000
3,375
1,580
788
5,233
47,096
5,417
3,750
4,167
2,500
9,591
1,812
2,131
6,000
3,197
1,543
746
5,107
45,959
5,417
3,750
4,167
2,500
9,591
1,812
2,131
6,000
3,197
1,543
746
5,107
45,959
5,417
3,750
4,167
2,500
10,125
1,913
2,250
6,000
3,375
1,580
788
5,233
47,096
5,417
3,750
4,167
2,500
11,334
2,141
2,519
6,000
3,778
1,664
882
5,519
49,670
5,417
3,750
4,167
2,500
11,813
2,231
2,625
6,000
3,938
1,698
919
5,632
50,688
5,417
3,750
4,167
2,500
10,463
1,976
2,325
6,000
3,488
1,603
814
5,313
47,814
65,000
45,000
50,000
30,000
134,944
25,489
29,988
72,000
44,981
19,896
10,496
65,974
593,768
HOTEL OPERATING EXPENSE

Cleaning Supplies
Laundry Supplies
Linens
Guest Supplies
Operating Supplies
Complimentary Breakfast
Evening Social
Repairs & Maintenance
Elevator Contracts
Fire Protection & Contracts
Electrical & Mechanical
Plumbing
HVAC Maintenance
Grounds/Landscaping
Pool Expenses
Franchise Fee
Marketing / Advertising
Frequent Stay Program Fees
Travel Agent Fees
Reservations Expense
Market Expense
Office Supplies
Utilities (Electricity/Gas/Fuel)
Water & Sewer
Waste Removal
Telephone
Internet Expense
Cable
Dues & Subscriptions
Licenses & Permits
Credit Card Expense
Management Fee
TOTAL OPERATING EXPENSES
1,133
504
1,385
2,519
1,889
7,556
2,519
1,259
504
504
756
252
630
1,259
630
14,537
7,343
3,297
4,496
2,997
1,574
882
2,750
1,986
764
63
875
1,000
378
302
7,556
15,276
89,375
1,260
560
1,540
2,800
2,100
8,400
2,800
1,400
560
560
840
280
700
1,400
700
17,518
8,849
3,973
5,418
3,612
1,750
980
3,309
2,390
919
70
875
1,000
420
336
8,400
18,382
104,101
1,482
659
1,812
3,294
2,470
9,881
3,294
1,647
659
659
988
329
823
1,647
823
20,607
10,410
4,674
6,373
4,249
2,059
1,153
3,892
2,811
1,081
82
875
1,000
494
395
9,881
21,623
122,128
1,181
525
1,444
2,625
1,969
7,875
2,625
1,313
525
525
788
263
656
1,313
656
15,150
7,653
3,436
4,686
3,124
1,641
919
2,866
2,070
796
66
875
1,000
394
315
7,875
15,921
93,066
1,133
504
1,385
2,519
1,889
7,556
2,519
1,259
504
504
756
252
630
1,259
630
13,315
6,726
3,020
4,118
2,745
1,574
882
5,607
1,822
701
63
875
1,000
378
302
7,556
14,017
88,000
1,013
450
1,238
2,250
1,688
6,750
2,250
1,125
450
450
675
225
563
1,125
563
11,895
6,009
2,698
3,679
2,453
1,406
788
7,513
1,628
626
56
875
1,000
338
270
6,750
12,521
81,315
959
426
1,172
2,131
1,598
6,394
2,131
1,066
426
426
639
213
533
1,066
533
10,233
5,169
2,321
3,165
2,110
1,332
746
8,636
1,403
540
53
875
1,000
320
256
6,394
10,795
75,061
959
426
1,172
2,131
1,598
6,394
2,131
1,066
426
426
639
213
533
1,066
533
10,233
5,169
2,321
3,165
2,110
1,332
746
8,636
1,403
540
53
875
1,000
320
256
6,394
10,795
75,061
1,013
450
1,238
2,250
1,688
6,750
2,250
1,125
450
450
675
225
563
1,125
563
11,895
6,009
2,698
3,679
2,453
1,406
788
7,513
1,628
626
56
875
1,000
338
270
6,750
12,521
81,315
1,133
504
1,385
2,519
1,889
7,556
2,519
1,259
504
504
756
252
630
1,259
630
13,315
6,726
3,020
4,118
2,745
1,574
882
3,504
1,822
701
63
875
1,000
378
302
7,556
14,017
85,898
1,181
525
1,444
2,625
1,969
7,875
2,625
1,313
525
525
788
263
656
1,313
656
15,150
7,653
3,436
4,686
3,124
1,641
919
3,184
2,070
796
66
875
1,000
394
315
7,875
15,921
93,384
1,046
465
1,279
2,325
1,744
6,975
2,325
1,163
465
465
698
233
581
1,163
581
13,419
6,779
3,043
4,150
2,767
1,453
814
2,820
1,833
705
58
875
1,000
349
279
6,975
14,101
82,926
13,494
5,998
16,493
29,988
22,491
89,963
29,988
14,994
5,998
5,998
8,996
2,999
7,497
14,994
7,497
167,268
84,496
37,937
51,732
34,488
18,742
10,496
60,229
22,866
8,794
750
10,500
12,000
4,498
3,599
89,963
175,890
1,071,632
Gross Operating Profit (GOP)
166,479
54.49%
211,175
57.44%
253,248
58.56%
174,659
54.85%
142,666
50.89%
122,014
48.72%
94,875
43.95%
94,875
43.95%
122,014
48.72%
144,769
51.64%
174,340
54.75%
151,282
53.64%
1,852,397
52.66%
RESERVES & FIXED EXPENSES

Debt Service
Real Estate Taxes
Insurance
Reserves For Replacement
69,133
15,000
3,819
12,221
69,133
15,000
4,596
14,706
69,133
15,000
5,406
17,299
69,133
15,000
3,980
12,737
69,133
15,000
3,504
11,213
69,133
15,000
3,130
10,017
69,133
15,000
2,699
8,636
69,133
15,000
2,699
8,636
69,133
15,000
3,130
10,017
69,133
15,000
3,504
11,213
69,133
15,000
3,980
12,737
69,133
15,000
3,525
11,281
829,592
180,000
43,972
140,712
100,173
147,660
$66,307
103,434
191,579
$107,741
106,837
232,842
$146,411
100,849
155,679
$73,809
98,850
124,162
$43,816
97,280
103,884
$24,734
95,467
77,177
($592)
95,467
77,177
($592)
97,280
103,884
$24,734
98,850
126,265
$45,918
100,849
155,360
$73,491
98,939
132,757
$52,343
1,194,276
1,628,424
658,120
INCOME BEFORE FIXED EXPENSES
TOTAL RESERVES & FIXED

CASH FLOW BEFORE DEBT
NET INCOME (LOSS)
Five Year Numbers Projected Summary

Lodging Occupancy %
Total Occ. Rooms
Average Daily Rate
REVENUE:
Guest Rooms
Market Revenue
TOTAL HOTEL REVENUE
YEAR 1
AMOUNT
45,625
65.7%
29,988
$115.01
3,448,825
1,499
29,988
37,484
=======
3,517,796
YEAR 2
AMOUNT
45,625
69.0%
31,487
$118.46
98.0%
0.0%
0.9%
1.1%
100.0
3,729,904
1,574
31,487
39,359
=======
3,802,324
YEAR 3
AMOUNT
45,625
72.5%
33,061
$122.01
98.1%
0.0%
0.8%
1.0%
100.0
4,033,891
1,653
33,061
41,327
=======
4,109,932
YEAR 4
AMOUNT
45,625
73.9%
33,722
$123.23
98.1%
0.0%
0.8%
1.0%
100.0
4,155,715
1,686
33,722
42,153
=======
4,233,277
YEAR 5
AMOUNT
45,625
75.0%
34,228
$124.47
98.2%
0.0%
0.8%
1.0%
100.0
4,260,231
1,711
34,228
42,785
=======
4,338,956
98.2%
0.0%
0.8%
1.0%
100.0
NOTE: The above information is a forwards looking projection of anticipated expenses and profits with regard to this project based on the professional experience of Core Distinction Group LLC (CDG) participation in other projects, similar in nature. Occupancy and ADR projections derived
from market data trends reported by Smith Travel Research (STR) in the market's proximity along with to date rate shopping of local and surrounding hotels. This projection could change due to changes in the economy, both locally and overall, the acceptance of the project by the local community
and patrons and the fact that CDG has not been involved in a project in this area and in a municipality with these demographics in the past. Thereby, all investors understand and acknowledge that these forward looking projections are not warranted by CDG and are subject to change and
fluctuation.
60
01/22/2015
Rooms:
5 Year Projection
125
The following statistics are preliminary projection based on assumed costs of prototypical hotel.
Lodging Occupancy %
Total Occ. Rooms
Average Daily Rate
REVENUE:
Guest Rooms
Market Revenue
TOTAL HOTEL REVENUE
Year 1
45,625
65.7%
29,988
$115.01
%
65.7%
Year 2
45,625
69.0%
31,487
$118.46
3,448,825
1,499
29,988
37,484
3,517,796
98.04%
0.04%
0.85%
1.07%
100%
65,000
45,000
50,000
30,000
134,944
25,489
29,988
72,000
44,981
19,896
10,496
65,974
593,768
%
69.0%
Year 3
45,625
72.5%
33,061
$122.01
3,729,904
1,574
31,487
39,359
3,802,324
98.10%
0.04%
0.83%
1.04%
100%
1.88%
1.30%
1.45%
0.87%
3.84%
0.72%
0.85%
2.05%
1.28%
0.57%
0.30%
1.88%
16.88%
68,250
47,250
52,500
30,900
141,691
26,764
31,487
74,160
46,331
20,773
11,020
68,891
620,017
13,494
5,998
16,493
29,988
22,491
89,963
29,988
14,994
5,998
5,998
8,996
2,999
7,497
14,994
7,497
167,268
84,496
37,937
51,732
34,488
18,742
10,496
56,988
22,866
8,794
750
10,500
12,000
4,498
3,599
89,963
175,890
1,068,391
0.38%
0.17%
0.47%
0.85%
0.64%
2.56%
0.85%
0.43%
0.17%
0.17%
0.26%
0.09%
0.21%
0.43%
0.21%
4.75%
2.40%
1.08%
1.47%
0.98%
0.53%
0.30%
1.62%
0.65%
0.25%
0.02%
0.30%
0.34%
0.13%
0.10%
2.56%
5.00%
30.37%
1,855,637
%
72.5%
Year 4
45,625
73.9%
33,722
$123.23
4,033,891
1,653
33,061
41,327
4,109,932
98.15%
0.04%
0.80%
1.01%
100%
1.83%
1.27%
1.41%
0.83%
3.73%
0.70%
0.83%
1.95%
1.22%
0.55%
0.29%
1.81%
16.31%
71,663
49,613
55,125
31,827
148,775
28,102
33,061
76,385
47,721
21,691
11,571
71,942
647,475
14,169
6,297
17,318
31,487
23,615
94,461
31,487
15,743
6,297
6,297
9,446
3,149
7,872
15,743
7,872
180,900
91,383
41,029
55,949
37,299
19,679
11,020
61,598
24,715
9,506
787
11,025
12,971
4,723
3,778
94,461
190,116
1,142,192
0.37%
0.17%
0.46%
0.83%
0.62%
2.48%
0.83%
0.41%
0.17%
0.17%
0.25%
0.08%
0.21%
0.41%
0.21%
4.76%
2.40%
1.08%
1.47%
0.98%
0.52%
0.29%
1.62%
0.65%
0.25%
0.02%
0.29%
0.34%
0.12%
0.10%
2.48%
5.00%
30.04%
53%
2,040,115
180,000
43,972
140,712
364,684
5.12%
1.25%
4.00%
10.37%
1,490,953
%
73.9%
Year 5
45,625
75.0%
34,228
$124.47
%
75.0%
4,155,715
1,686
33,722
42,153
4,233,277
98.17%
0.04%
0.80%
1.00%
100%
4,260,231
1,711
34,228
42,785
4,338,956
98.19%
0.04%
0.79%
0.99%
100%
1.78%
1.23%
1.37%
0.79%
3.62%
0.68%
0.80%
1.86%
1.16%
0.53%
0.28%
1.75%
15.75%
75,246
52,093
57,881
32,782
151,751
28,664
33,722
78,676
49,152
22,399
11,803
74,271
668,441
1.81%
1.25%
1.39%
0.79%
3.58%
0.68%
0.80%
1.86%
1.16%
0.53%
0.28%
1.75%
15.79%
79,008
54,698
60,775
33,765
154,027
29,094
34,228
81,037
50,627
23,090
11,980
76,541
688,871
1.85%
1.28%
1.43%
0.79%
3.55%
0.67%
0.79%
1.87%
1.17%
0.53%
0.28%
1.76%
15.88%
14,878
6,612
18,184
33,061
24,796
99,184
33,061
16,531
6,612
6,612
9,918
3,306
8,265
16,531
8,265
195,644
98,830
44,373
60,508
40,339
20,663
11,571
66,581
26,715
10,275
827
11,576
14,020
4,959
3,967
99,184
205,497
1,221,345
0.36%
0.16%
0.44%
0.80%
0.60%
2.41%
0.80%
0.40%
0.16%
0.16%
0.24%
0.08%
0.20%
0.40%
0.20%
4.76%
2.40%
1.08%
1.47%
0.98%
0.50%
0.28%
1.62%
0.65%
0.25%
0.02%
0.28%
0.34%
0.12%
0.10%
2.41%
5.00%
29.72%
15,175
6,744
18,547
33,722
25,292
101,167
33,722
16,861
6,744
6,744
10,117
3,372
8,431
16,861
8,431
201,552
101,815
45,713
62,336
41,557
21,077
11,803
68,579
27,516
10,583
843
12,155
14,441
5,058
4,047
101,167
211,664
1,253,838
0.36%
0.16%
0.44%
0.80%
0.60%
2.39%
0.80%
0.40%
0.16%
0.16%
0.24%
0.08%
0.20%
0.40%
0.20%
4.76%
2.41%
1.08%
1.47%
0.98%
0.50%
0.28%
1.62%
0.65%
0.25%
0.02%
0.29%
0.34%
0.12%
0.10%
2.39%
5.00%
29.62%
15,403
6,846
18,826
34,228
25,671
102,685
34,228
17,114
6,846
6,846
10,268
3,423
8,557
17,114
8,557
206,621
104,376
46,863
63,903
42,602
21,393
11,980
70,291
28,203
10,847
856
12,763
14,801
5,134
4,107
102,685
216,948
1,280,985
0.35%
0.16%
0.43%
0.79%
0.59%
2.37%
0.79%
0.39%
0.16%
0.16%
0.24%
0.08%
0.20%
0.39%
0.20%
4.76%
2.41%
1.08%
1.47%
0.98%
0.49%
0.28%
1.62%
0.65%
0.25%
0.02%
0.29%
0.34%
0.12%
0.09%
2.37%
5.00%
29.52%
54%
2,241,112
55%
2,310,997
55%
2,369,100
55%
180,000
47,529
152,093
379,622
4.73%
1.25%
4.00%
9.98%
183,600
51,374
164,397
399,371
4.47%
1.25%
4.00%
9.72%
187,272
52,916
169,331
409,519
4.42%
1.25%
4.00%
9.67%
191,017
54,237
173,558
418,813
4.40%
1.25%
4.00%
9.65%
42.38%
1,660,493
43.67%
1,841,741
44.81%
1,901,478
44.92%
1,950,288
44.95%
829,592
23.58%
829,592
21.82%
829,592
20.19%
829,592
19.60%
829,592
19.12%
$661,361
18.80%
$830,901
21.85%
$1,012,149
24.63%
$1,071,886
25.32%
$1,120,696
25.83%
Hotel Expenses
General Manager
Assistant Manager
Sales Manager
Operations Manager
Housekeeping
Laundry
Maintenance
Front Desk
Food and Beverage
Employee Benefits
Payroll Tax
TOTAL HOTEL PAYROLL
Cleaning Supplies
Laundry Supplies
Linens
Guest Supplies
Operating Supplies
Evening Social
Elevator Contracts
Plumbing
HVAC Maintenance
Grounds/Landscaping
Pool Expenses
Franchise Fee
Frequent Stay Program
Travel Agent Fees
Market Expense
Office Supplies
Water & Sewer
Waste Removal
Telephone
Internet Expense
Cable
Licenses & Permits
Credit Card Expense
Management Fee
INCOME BEFORE
FIXED EXPENSES
Real Estate Taxes
Insurance
Debt Service
NET CASH FLOW
RETURN ON CASH INVESTMENT
9.87%
12.40%
15.11%
16.00%
16.73%
NOTE: The above information is a forwards looking projection of anticipated expenses and profits with regard to this project based on the professional experience of Core Distinction Group LLC (CDG) participation in other
projects, similar in nature. Occupancy and ADR projections derived from market data trends reported by Smith Travel Research (STR) in the market's proximity along with to date rate shopping of local and surrounding hotels. This
projection could change due to changes in the economy, both locally and overall, the acceptance of the project by the local community and patrons and the fact that CDG has not been involved in a project in this area and in a
municipality with these demographics in the past. Thereby, all investors understand and acknowledge that these forward looking projections are not warranted by CDG and are subject to change and fluctuation.
61
01/22/2015
Rooms:
5 Year Projection
125
The following statistics are preliminary projection based on assumed costs of prototypical hotel.
42.8%
Year 3
45,625
41.8%
19,070
$122.01
2,313,860
977
19,533
24,416
2,358,786
98.10%
0.04%
0.83%
1.04%
100%
2.82%
1.95%
2.17%
1.30%
3.84%
0.72%
0.85%
3.06%
1.28%
0.71%
0.30%
2.35%
21.18%
68,250
47,250
52,500
30,900
87,899
16,603
19,533
74,160
31,011
17,124
6,837
56,508
508,575
9,032
4,014
11,040
20,072
15,054
60,216
20,072
10,036
4,014
4,014
6,022
2,007
5,018
10,036
5,018
111,960
56,557
25,393
34,627
23,085
12,545
7,025
38,145
15,305
5,887
502
10,500
12,000
3,011
2,409
60,216
117,731
722,563
0.38%
0.17%
0.47%
0.85%
0.64%
2.56%
0.85%
0.43%
0.17%
0.17%
0.26%
0.09%
0.21%
0.43%
0.21%
4.75%
2.40%
1.08%
1.47%
0.98%
0.53%
0.30%
1.62%
0.65%
0.25%
0.02%
0.45%
0.51%
0.13%
0.10%
2.56%
5.00%
30.69%
1,133,264

Real Estate Taxes
Insurance

Lodging Occupancy %
Total Occ. Rooms
Average Daily Rate
REVENUE:
Guest Rooms
Market Revenue
TOTAL HOTEL REVENUE
Year 1
45,625
44.0%
20,072
$115.01
%
44.0%
Year 2
45,625
42.8%
19,533
$118.46
2,308,456
1,004
20,072
25,090
2,354,621
98.04%
0.04%
0.85%
1.07%
100%
65,000
45,000
50,000
30,000
90,324
17,061
20,072
72,000
30,108
16,783
7,025
55,422
498,795
%
41.8%
Year 4
45,625
41.9%
19,095
$123.23
2,326,784
954
19,070
23,838
2,370,645
98.15%
0.04%
0.80%
1.01%
100%
2.95%
2.04%
2.27%
1.34%
3.73%
0.70%
0.83%
3.14%
1.31%
0.73%
0.29%
2.40%
21.56%
71,663
49,613
55,125
31,827
85,815
16,210
19,070
76,385
31,942
17,506
6,675
57,729
519,557
8,790
3,907
10,743
19,533
14,650
58,599
19,533
9,767
3,907
3,907
5,860
1,953
4,883
9,767
4,883
112,222
56,690
25,452
34,708
23,139
12,208
6,837
38,212
15,332
5,897
488
11,025
12,021
2,930
2,344
58,599
117,939
716,724
0.37%
0.17%
0.46%
0.83%
0.62%
2.48%
0.83%
0.41%
0.17%
0.17%
0.25%
0.08%
0.21%
0.41%
0.21%
4.76%
2.40%
1.08%
1.47%
0.98%
0.52%
0.29%
1.62%
0.65%
0.25%
0.02%
0.47%
0.51%
0.12%
0.10%
2.48%
5.00%
30.39%
48%
1,133,487
180,000
29,433
94,185
303,618
7.64%
1.25%
4.00%
12.89%
829,646
%
41.9%
Year 5
45,625
41.9%
19,127
$124.47
%
41.9%
2,353,133
955
19,095
23,869
2,397,051
98.17%
0.04%
0.80%
1.00%
100%
2,380,647
956
19,127
23,909
2,424,639
98.19%
0.04%
0.79%
0.99%
100%
3.08%
2.13%
2.37%
1.37%
3.62%
0.68%
0.80%
3.22%
1.35%
0.74%
0.28%
2.44%
21.92%
75,246
52,093
57,881
32,782
85,928
16,231
19,095
78,676
32,900
18,033
6,683
59,443
534,991
3.20%
2.21%
2.46%
1.39%
3.58%
0.68%
0.80%
3.28%
1.37%
0.75%
0.28%
2.48%
22.32%
79,008
54,698
60,775
33,765
86,072
16,258
19,127
81,037
33,887
18,585
6,694
61,238
551,144
3.32%
2.30%
2.55%
1.42%
3.55%
0.67%
0.79%
3.34%
1.40%
0.77%
0.28%
2.53%
22.73%
8,582
3,814
10,489
19,070
14,303
57,210
19,070
9,535
3,814
3,814
5,721
1,907
4,768
9,535
4,768
112,849
57,006
25,595
34,902
23,268
11,919
6,675
38,404
15,409
5,927
477
11,576
12,082
2,861
2,288
57,210
118,532
713,376
0.36%
0.16%
0.44%
0.80%
0.60%
2.41%
0.80%
0.40%
0.16%
0.16%
0.24%
0.08%
0.20%
0.40%
0.20%
4.76%
2.40%
1.08%
1.47%
0.98%
0.50%
0.28%
1.62%
0.65%
0.25%
0.02%
0.49%
0.51%
0.12%
0.10%
2.41%
5.00%
30.09%
8,593
3,819
10,502
19,095
14,321
57,285
19,095
9,548
3,819
3,819
5,729
1,910
4,774
9,548
4,774
114,127
57,652
25,884
35,297
23,531
11,934
6,683
38,832
15,581
5,993
477
12,155
12,216
2,864
2,291
57,285
119,853
719,285
0.36%
0.16%
0.44%
0.80%
0.60%
2.39%
0.80%
0.40%
0.16%
0.16%
0.24%
0.08%
0.20%
0.40%
0.20%
4.76%
2.41%
1.08%
1.47%
0.98%
0.50%
0.28%
1.62%
0.65%
0.25%
0.02%
0.51%
0.51%
0.12%
0.10%
2.39%
5.00%
30.01%
8,607
3,825
10,520
19,127
14,345
57,381
19,127
9,564
3,825
3,825
5,738
1,913
4,782
9,564
4,782
115,461
58,326
26,187
35,710
23,806
11,954
6,694
39,279
15,760
6,062
478
12,763
12,357
2,869
2,295
57,381
121,232
725,540
0.35%
0.16%
0.43%
0.79%
0.59%
2.37%
0.79%
0.39%
0.16%
0.16%
0.24%
0.08%
0.20%
0.39%
0.20%
4.76%
2.41%
1.08%
1.47%
0.98%
0.49%
0.28%
1.62%
0.65%
0.25%
0.02%
0.53%
0.51%
0.12%
0.09%
2.37%
5.00%
29.92%
48%
1,137,712
48%
1,142,774
48%
1,147,955
47%
180,000
29,485
94,351
303,836
7.63%
1.25%
4.00%
12.88%
183,600
29,633
94,826
308,059
7.74%
1.25%
4.00%
12.99%
187,272
29,963
95,882
313,117
7.81%
1.25%
4.00%
13.06%
191,017
30,308
96,986
318,311
7.88%
1.25%
4.00%
13.13%
35.23%
829,651
35.17%
829,653
35.00%
829,657
34.61%
829,644
34.22%
829,592
35.23%
829,592
35.17%
829,592
34.99%
829,592
34.61%
829,592
34.22%
$54
0.00%
$59
0.00%
$61
0.00%
$65
0.00%
$52
0.00%
Hotel Expenses
General Manager
Assistant Manager
Sales Manager
Operations Manager
Housekeeping
Laundry
Maintenance
Front Desk
Food and Beverage
Employee Benefits
Payroll Tax
TOTAL HOTEL PAYROLL
Cleaning Supplies
Laundry Supplies
Linens
Guest Supplies
Operating Supplies
Evening Social
Elevator Contracts
Plumbing
HVAC Maintenance
Grounds/Landscaping
Pool Expenses
Franchise Fee
Frequent Stay Program
Travel Agent Fees
Market Expense
Office Supplies
Water & Sewer
Waste Removal
Telephone
Internet Expense
Cable
Licenses & Permits
Credit Card Expense
Management Fee
INCOME BEFORE
FIXED EXPENSES
Debt Service
NET CASH FLOW
RETURN ON CASH INVESTMENT
0.00%
0.00%
0.00%
0.00%
0.00%
NOTE: The above information is a forwards looking projection of anticipated expenses and profits with regard to this project based on the professional experience of Core Distinction Group LLC (CDG) participation in other
projects, similar in nature. Occupancy and ADR projections derived from market data trends reported by Smith Travel Research (STR) in the market's proximity along with to date rate shopping of local and surrounding hotels. This
projection could change due to changes in the economy, both locally and overall, the acceptance of the project by the local community and patrons and the fact that CDG has not been involved in a project in this area and in a
municipality with these demographics in the past. Thereby, all investors understand and acknowledge that these forward looking projections are not warranted by CDG and are subject to change and fluctuation.
62
01/22/2015
63
01/22/2015
64
01/22/2015
65
01/22/2015
66
01/22/2015
67
01/22/2015
68
01/22/2015
69
01/22/2015
Source: Residence Inn (3/31/2014) - Franchise Disclosure Document
70
01/22/2015
DISCLAIMER
Thank you for the opportunity to complete this market and feasibility study for the proposed hotel
project located in Maricopa, AZ. We have studied the market area for additional demand for a
lodging facility and the results of our fieldwork and analysis are presented in this report. We have
also made recommendations for the scope of the proposed project, including general site location,
size of hotel, and brand.
We hereby certify that we have no undisclosed interest in the property and our employment and
compensation are not contingent upon our findings. This study is subject to the comments made
throughout this report and to all assumptions and limiting conditions set forth herein.
The conclusions presented in this report are based upon the information available and received at the
time the report was filed. Core Distinction Group, LLC (CDG) has taken every possible precaution
to evaluate this information for its complete accuracy and reliability. Parts of this report were
prepared or arranged by third-party contributors, as indicated throughout the document. While thirdparty contributions have been reviewed by CDG for reasonableness and consistency for including in
this report, third-party information has not been fully audited or sought to be verified by CDG. CDG
does not provide financial advice.
It should be understood that economic and marketplace conditions are in constant change. The results
presented in this report are the professional opinion of CDG and are based on information available
at the time of the report preparation. These opinions infer that market conditions do not change the
information received upon which those opinions have been based. CDG assumes no responsibility
for changes in the marketplace. CDG assumes no responsibility for information that becomes
outdated once this report is written; nor are we responsible for keeping this information current after
the date of the final document presentation.
CDG makes no express or implied representation or warranty that the contents of this report are
verified, accurate, suitably qualified, reasonable or free from errors, omissions or other defects of any
kind or nature. Those who rely on this report do so at their own risk and CDG disclaims all liability,
damages or loss with respect to such reliance.
It is presumed that those reading this report understand the contents and recommendations. If this
reader is unclear of understanding the contents, clarification can be received directly from a
representative of CDG. While the terms of CDGs engagement do not require that revisions be made
to this report to reflect events or conditions which occur subsequent to the date of completion of
fieldwork, we are available to discuss the necessity for revisions in view of changes in the economic
climate or market factors affecting the proposed hotel project.
Please do not hesitate to call should you have any comments or questions.
Sincerely,
Lisa L. Pennau
Owner
71
01/22/2015

Hotel Feasibility Study - City of Maricopa Final PDF

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Hotel Feasibility Study - City of Maricopa Final PDF

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Core Distinction Group, LLC

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Executive Summary (Conclusions)

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Additional Demand Generators:

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General Market Overview

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Core Distinction Group, LLC

Population, 2010 (April 1) estimates base

Population, percent change, April 1, 2010 to July 1, 2013

Persons under 5 years, percent, 2013

Persons under 18 years, percent, 2013

Persons 65 years and over, percent, 2013

Female persons, percent, 2013

White alone, percent, 2013 (a)

Black or African American alone, percent, 2013 (a)

American Indian and Alaska Native alone, percent, 2013 (a)

Asian alone, percent, 2013 (a)

Two or More Races, percent, 2013

Hispanic or Latino, percent, 2013 (b)

White alone, not Hispanic or Latino, percent, 2013

Living in same house 1 year & over, percent, 2008-2012

Foreign born persons, percent, 2008-2012

High school graduate or higher, percent of persons age 25+, 2008-2012

Bachelor's degree or higher, percent of persons age 25+, 2008-2012

Mean travel time to work (minutes), workers age 16+, 2008-2012

Source: US Census Bureau

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Effective Buying Income

Source: US Census Bureau, Census 2010. Esri Forecasts for 2014/2019

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Total Residential Population:

Arts, Entertainment & Recreation

Administrative & Support & Waste Management & Remediation

Professional, Scientific & Tech Services

Accommodation & Food Services

Food Services & Drinking Places

Health Care & Social Assistance

Other Services (except Public Administration)

General Merchandise Stores

Food & Beverage Stores

Finance & Insurance

Transportation & Warehousing

Real Estate, Rental & Leasing

Agriculture, Forestry, Fishing & Hunting

Central Bank/Credit Intermediation & Related Activities

Securities, Commodity Contracts & Other Financial

Core Distinction Group, LLC

Maricopa, AZ Major Employers

Harrah's AK-Chin Casino Resort

Maricopa Unified School District

Maricopa City Office

Fry's Food Store

Volkswagen Proving Grounds