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10. 9. Total United States In Construction – Rooms in Thousands 2002 – 2004. 8. Total United States Rooms Under Construction by Scale – In Thousands December 2004. 8. Top 10 Markets – Rooms Under Construction (000’s) December 2004. 8. Major Buyers in 2004 (by Dollar of Acquisition). - PowerPoint PPT PresentationTRANSCRIPT
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Highest Value Cities
1991 1997 2000 2004Value Value Value Value
Rank Per Room Per Room Per Room Per Room1 Oahu $159,000 New York $277,000 New York $388,000 New York $333,000
2 San Francisco $76,000 San Francisco $222,000 San Francisco $305,000 Oahu $273,0003 San Antonio $61,000 Oahu $221,000 San Jose $231,000 Las Vegas $232,000
4 New Orleans $60,000 San Jose $151,000 Boston $216,000 San Diego $155,0005 Miami $59,000 Boston $151,000 Oahu $204,000 San Francisco $148,000
6 Orlando $58,000 Las Vegas $133,000 Las Vegas $164,000 Washington, DC $140,0007 Seattle $54,000 New Orleans $124,000 Long Island $157,000 Miami $130,000
8 Las Vegas $52,000 Orlando $118,000 New Orleans $146,000 San Antonio $114,0009 New York $51,000 Phoenix $117,000 San Diego $140,000 New Orleans $113,000
10 Portland $48,000 Miami $105,000 Oakland $133,000 Baltimore $101,000
Source: HVS International
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Total United StatesIn Construction – Rooms in Thousands2002 – 2004
60
70
80
90
100
110
120
130
140
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
200420032002
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Total United StatesRooms Under Construction by Scale – In ThousandsDecember 2004
2.4
17.0
21.8 21.9
4.32.7
21.1
0
5
10
15
20
25
Luxury Upper Upscale Upscale Mid w F&B Mid w/o F&B Economy Unaffiliated
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4.5
3.0
2.6
2.1
2.1
1.8
1.7
1.7
1.7
1.6
0 1 2 3 4 5
Washington, DC
Boston
Chicago
New York
Denver
Dallas
Tampa
Riverside, CA
Orlando
Norfolk
Top 10 Markets – Rooms Under Construction (000’s) December 2004
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Highland Hospitality Corp. 14 4,184 $502,000,000 $119,981
Ashford Hospitality Trust 7 1,644 $190,000,000 115,572
Diamond Rock Hospitality 4 1,053 $159,000,000 150,997
HEI Hospitality Fund 5 1,056 $ 157,000,000 148,674
Does not include HEI JV purchases
Equity Inns 5 587 $ 74,000,000 126,065
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Change in Value Per Room: 2004-2006
Rank Rank1 New York $265,000 37 Indianapolis $16,0002 Oahu $166,000 38 Dallas $14,0003 Miami $78,000 39 Charlotte $14,0004 Washington, DC $77,000 40 Houston $14,0005 San Francisco $74,000 41 Cincinnati $13,0006 Boston $68,000 42 Long Island $12,0007 Las Vegas $64,000 43 Austin $12,0008 Los Angeles $61,000 44 Denver $1,0009 Orlando $54,000 45 Albuquerque $5,00010 Phoenix $49,000 46 Detroit $1,000
11 USA $41,000
Source: HVS International
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MoscowPragueIstanbulLondonMunichFrankfurtGenevaBarcelona
MadridWarsaw
-20%-15%
-10%-5%
0%
5%
10%
15%
20%
25%
European Hotel Values 2004 – Winners & Losers
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0 100,000 200,000 300,000 400,000 500,000
London
Milan
Geneva
Edinburgh
Prague
Europe
Moscow
Barcelona
Birmingham
Hamburg
Brussels
Frankfurt
Athens
Lisbon
Warsaw
2003 2004
European Hotel Values 2004 – Winners & Losers
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Wyndham International 10 3,757 $321,000,000 $ 85,441
Host Marriott Corporation 5 1,592 $125,000,000 78,518
FelCor Lodging Trust 6 1,943 $110,000,000 56,613
MeriStar Hospitality Corporation 3 639 $ 57,000,000 89,202
Affiliates of W.I> Realty I, L.P. 4 432 $ 47,000,000 108,796
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1 Plaza Hotel New York, NY 805 $839,000 El Ad Properties NY, LLC2 Fairmont Kea Lani Wailea, HI 450 $789,000 Host Marriott3 Four Seasons Wailea, HI 380 $737,000 MSD Capital, LP4 Kona Village Resort Kailua-Kona, HI 380 $480,000 Ty Warner Hotels & Resorts5 Ritz-Carlton Half Moon Bay 261 $477,000 Strategic Hotel Capital, LLC6 Harrah’s Casino Shreveport, LA 514 $370,000 Boyd Gaming Corporation7 Conrad Miami Miami, FL 203 $320,000 E.I. American Real Estate Corp.8 El Encanto Santa Barbara, CA 83 $313,000 Orient Express Hotels, LTD9 Intercontinental Central Park South New York, NY 207 $307,000 Anbau Enterprises, Inc.10 Argyle Hotel West Hollywood, CA 64 $289,000 Kingston Klein Hotel Group, LLC
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Year
1990 130 40,053 $136,0001991 56 16,489 96,0001992 70 26,751 82,0001993 53 20,026 93,0001994 108 38,579 81,0001995 147 48,619 80,0001996 227 77,916 106,0001997 280 82,867 117,0001998 241 78,865 136,0001999 128 34,408 148,0002000 148 39,759 125,0002001 117 29,608 153,0002002 105 31,626 111,0002003 121 33,292 138,0002004 178 56,777 141,000
Source: HVS Lodging Databank
Average Priceper Room
Number Numberof Roomsof Hotels
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