U.S. Hotel Performance Data - January 2007 Compared To January 2006

Smith Travel Research

Operating Performance - January
	Occupancy Percent			Average Room Rate			RevPAR			Revenue	Supply	Demand
Segment	2007	2006	%Chg	2007	2006	%Chg	2007	2006	%Chg	%Chg	%Chg	%Chg
San Francisco/San Mateo, CA	59.0	59.1	-0.2	140.15	129.39	8.3	82.67	76.44	8.2	8.2	0.1	-0.1
Chicago, IL	49.0	48.1	1.9	103.42	98.38	5.1	50.66	47.29	7.1	7.3	0.2	2.1
Los Angeles-Long Beach, CA	68.8	70.8	-2.8	120.35	113.08	6.4	82.77	80.10	3.3	2.5	-0.8	-3.7
Atlanta, GA	60.5	64.2	-5.8	89.68	85.13	5.3	54.22	54.62	-0.7	-1.5	-0.8	-6.5
Boston, MA	46.2	48.7	-5.1	123.03	117.70	4.5	56.90	57.37	-0.8	2.2	3.1	-2.2
New York, NY	70.8	69.9	1.3	207.19	191.19	8.4	146.62	133.56	9.8	11.7	1.8	3.1

Operating Performance - January - 12 Month
	Occupancy Percent			Average Room Rate			RevPAR			Revenue	Supply	Demand
Segment	2007	2006	%Chg	2007	2006	%Chg	2007	2006	%Chg	%Chg	%Chg	%Chg
San Francisco/San Mateo, CA	72.8	71.8	1.4	138.83	126.28	9.9	101.13	90.71	11.5	12.1	0.6	2.0
Chicago, IL	67.5	64.3	5.0	122.54	110.11	11.3	82.77	70.82	16.9	17.1	0.2	5.2
Los Angeles-Long Beach, CA	75.0	74.6	0.5	115.03	105.22	9.3	86.26	78.47	9.9	8.4	-1.4	-0.8
Atlanta, GA	64.2	65.3	-1.7	86.10	79.01	9.0	55.30	51.62	7.1	6.7	-0.4	-2.1
Boston, MA	66.8	65.3	2.3	141.63	130.17	8.8	94.68	85.06	11.3	14.0	2.4	4.8
New York, NY	82.9	82.9	0.0	241.49	214.42	12.6	200.08	177.70	12.6	12.7	0.1	0.1

HOTELS