U.S. Hotel Performance Data - March 2006 Compared To March 2005

Smith Travel Research

Operating Performance - March
	Occupancy Percent			Average Room Rate			RevPAR			Revenue	Supply	Demand
Segment	2006	2005	%Chg	2006	2005	%Chg	2006	2005	%Chg	%Chg	%Chg	%Chg
San Francisco/San Mateo, CA	70.6	68.3	3.4	138.17	117.93	17.2	97.60	80.57	21.1	21.3	0.1	3.5
Chicago, IL	64.9	58.2	11.5	112.81	97.71	15.5	73.20	56.84	28.8	29.1	0.2	11.8
Los Angeles-Long Beach, CA	78.1	76.1	2.6	112.64	102.98	9.4	87.96	78.35	12.3	12.0	-0.2	2.4
Atlanta, GA	69.8	63.6	9.7	90.45	77.60	16.6	63.14	49.36	27.9	28.0	0.0	9.8
Boston, MA	61.0	57.6	5.9	128.35	119.45	7.5	78.33	68.78	13.3	15.2	1.1	7.2
New York, NY	81.8	84.1	-2.7	204.31	183.79	11.2	167.06	154.50	8.1	6.7	-1.3	-4.0

Operating Performance - March - 12 Month
	Occupancy Percent			Average Room Rate			RevPAR			Revenue	Supply	Demand
Segment	2006	2005	%Chg	2006	2005	%Chg	2006	2005	%Chg	%Chg	%Chg	%Chg
San Francisco/San Mateo, CA	72.1	68.7	4.9	127.91	118.44	8.0	92.17	81.38	13.3	11.9	-1.2	3.6
Chicago, IL	65.1	62.4	4.3	111.32	102.82	8.3	72.49	64.13	13.0	14.0	0.8	5.3
Los Angeles-Long Beach, CA	74.7	72.3	3.3	106.32	98.45	8.0	79.45	71.20	11.6	11.3	-0.3	3.0
Atlanta, GA	66.1	60.2	9.8	80.62	75.47	6.8	53.29	45.44	17.3	17.6	0.3	10.1
Boston, MA	65.6	64.5	1.7	131.09	125.21	4.7	85.01	80.82	6.4	6.8	0.4	2.0
New York, NY	82.5	82.1	0.5	216.22	188.55	14.7	178.35	154.76	15.2	13.9	-1.1	-0.7

HOTELS