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HomeMy WebLinkAboutVail_Reservations_Activity_Outlook_2012-05-31Destination: Vail Period: Bookings as of May 31, 2012 Data based on a sample of up to 24 properties in the Vail destination, representing up to 2,075 Units ('MTRiP Census'*) and 56% of 3,706 total units in the Vail destination ('Destination Census'**) a. Last Month Performance: Current YTD vs. Previous YTD 2011/122010/11 Year over Year % Diff 16.6%13.7%21.0% $124$130 -4.2% $21$18 15.9% b. Next Month Performance: Current YTD vs. Previous YTD 37.5%37.7%-0.3% $158$153 3.3% $60$58 2.9% c. Historical 6 Month Actual Performance: Current YTD vs. Previous YTD 54.4%54.5%-0.2% $410$378 8.5% $223$206 8.3% d. Future 6 Month On The Books Performance: Current YTD vs. Previous YTD 22.8%19.4%17.4% $174$173 0.6% $40$34 18.1% e. Incremental Pacing - % Change in Rooms Booked last Calendar Month: May. 31, 2012 vs. Previous Year 6.2%5.0%24.3% RESERVATIONS ACTIVITY REPORT Vail Executive Summary Vail Occupancy for last month (May) changed by (21.0%)Occupancy (May) : Vail Average Daily Rate for last month (May) changed by (-4.2%) ADR (May) : Vail Average Daily Rate for the upcoming 6 months changed by (0.6%)ADR Vail RevPAR for next month (June) changed by (2.9%)RevPAR (June) : Vail Occupancy for the prior 6 months changed by (-0.2%)Occupancy Vail Average Daily Rate for the prior 6 months changed by (8.5%)ADR Vail RevPAR for the prior 6 months changed by (8.3%)RevPAR Vail Occupancy for the upcoming 6 months changed by (17.4%)Occupancy RevPAR (May) : Vail Occupancy for next month (June) changed by (-0.3%)Occupancy (June) Vail Average Daily Rate for next month (June) changed by (3.3%)ADR (June) : Vail RevPAR for last month (May) changed by (15.9%) * MTRiP Census: Total number of rooms reported by participating MTRiP properties as available for short-term rental in the reporting month. This number can vary monthly as inventories and report participants chang e over time. ** Destination Census: The total number of rooms available for rental within the community as established by the Transient Inventory Study of July 2009 and adjusted for properties that have opened / closed since that time. This number varies infrequently as new properties start, or existing properties cease operations. DESCRIPTION: The Reservation Activity Outlook Report tracks occupancy, average daily rate (ADR), and revenue per available room (RevPAR); the key metrics most of interest to lodging properties. The report combines the data sets of participating properties into a destination wide view that features three data sets (providing that sufficient information is available) including: i) current YTD occupancy, ii) last YTD occupancy, iii) last season's ending occupancy. The Reservation Activity Outlook Report is generated on a monthly basis, usually for a 12 month subscription period, and is created from data provided by a group of properties participating in a cooperative manner, and representing a valid set of data as a result. Report results are provided only to those properties who participate by submitting their data. Additionally, participating properties can order (on an a-la-carte basis) an individual report whic h shows the reservation activity of their property, measured against an aggregated set of competitive properties that they choose from amongst MTRiP's other participants. As is the case in all MTRiP data, all information provided by individual properties is strictly confidential, except when aggregated with other data and indistinguishable as a result. Copyright 2010 - MTRiP, LLC. All Rights Reserved. Information provided here is CONFIDENTIAL INFORMATION and is the exclusive property of MTRiP LLC. It is expressly not for reproduction, distribution publication or any other dissemination without the express written permission of MTRIP, LLC. Sample reports may be provided to interested persons, specifically for purposes of their evaluation of a p otential subscription and are subject to Copyrights of this product. Data and Metrics represented on this report are representative of the Sample Properties only and may not be representative of the entire Community or Industry. Persons using this data for strategic purposes do so at their own risk and hold MTRIP harmless. Vail RevPAR for the upcoming 6 months changed by (18.1%)RevPAR Rooms Booked during last month (May, 2012) compared to Rooms Booked during the same period last year (May, 2011) for all arrival dates has changed by (24.3%)Booking Pace (May) 6/8/2012 Source: MTRiP Monthly Reservations Activity Survey 1 RESERVATIONS ACTIVITY REPORT SECTION 1 - 12 MONTH ROLLING SUMMARY GRAPHS 2011/12 YTD (as of May 31, 2012) vs. 2010/11 YTD (a s of May 31, 2011) vs. 2010/11 Historical NOTE: This is not a forecast of bookings. Data presented in this report represents Occupancy on the books as of the date noted above Period: Bookings as of April 30, 2007 Historic months total Chart 1a - Occupancy Rate 60% 51% 22%28% 41%45% 38% 59% 66%72%75% 17% 38%43% 29% 18% 6%3% 23% 56% 67%73%73% 14% 38%36% 12% 6%3% 19% 31% 21% 38% 6% -1%-1%2% -19% 0% 20% 21% 47% 5%3% 17% 38% -40% -20% 0% 20% 40% 60% 80% 100% DecemberJanuaryFebruaryMarchAprilMayJuneJulyAugustSeptemberOctoberNovemberOn the Books months total Oc c u p a n c y R a t e & % C h g i n O c c u p R a t e -40% -20% 0% 20% 40% 60% 80% 100% Historic Actual Occup. Rate (2010/11 season) Occup. Rate as of: May 31, 2012 (2011/12 season) Occup. Rate as of: May 31, 2011 (2010/11 season) Percent Change in YTD Occ. Rate Chart 1b - Average Daily Rate $4 7 9 $4 1 1 $4 4 0 $4 2 8 $2 8 7 $1 2 4 $1 5 8 $1 9 4 $1 9 8 $1 4 7 $1 2 1 $1 2 3 $4 1 2 $1 5 3 $1 5 6 $1 2 1 $1 2 4 $1 5 4 $1 8 7 $1 8 2 $1 5 1 $1 2 9 $1 4 6 $1 7 4 $1 7 3 $3 8 5 $4 3 2 $4 2 2 $2 0 2 $1 3 0 $1 9 7 $1 9 7 $1 6 5 3% -6%1% 16% 7% 2%1% 42% -4%-1%1%-1% 0% $0 $100 $200 $300 $400 $500 $600 DecemberJanuaryFebruaryMarchAprilMayJuneJulyAugustSeptemberOctoberNovemberOn the Books months total AD R -10% 0% 10% 20% 30% 40% 50% Pe r c e n t C h a n g e i n A D R ADR as of: May 31, 2012 (2011/12 season) ADR as of: May 31, 2011 (2010/11 season) Historic Actual ADR (2010/11 season) Percent Change in YTD ADR Chart 1c - Revenue per Available Room $2 8 4 $2 7 3 $3 1 8 $3 1 9 $8 9 $2 1 $6 0 $5 8 $7 $4 $4 0 $2 3 0 $2 5 8 $3 1 5 $3 1 0 $7 8 $1 8 $5 8 $7 $4 $3 4 $6 9 $1 1 2 $9 2 $5 7 $2 8 $4 1 $6 7 $8 3 $2 6 $7 0 $4 2 $1 9 3% 18%23% 6%1%3% 14% 16% 39% 39% 4%2% 18% $0 $50 $100 $150 $200 $250 $300 $350 DecemberJanuaryFebruaryMarchAprilMayJuneJulyAugustSeptemberOctoberNovemberOn the Books months total Re v P A R 0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100% Pe r c e n t C h a n g e i n R e v P A R RevPAR as of: May 31, 2012 (2011/12 season) RevPAR as of: May 31, 2011 (2010/11 season) Historic Actual RevPAR (2010/11 season) Percent Change in YTD RevPAR Chart 1d - Percent Change in YTD Occupancy Rate & ADR (2011/12 YTD vs. 2010/11 YTD) 6% -1%-1% 2% -19% 21% 0% 20% 38% 5%3% 17%16% 7%2%1% -4% 3% -1% 1% -6%-1%0% 1% 47% 42% -30% -20% -10% 0% 10% 20% 30% 40% 50% 60% Dec-11 vs. Dec-10 Jan-12 vs. Jan-11 Feb-12 vs. Feb-11 Mar-12 vs. Mar-11 Apr-12 vs. Apr-11 May-12 vs. May-11 Jun-12 vs. Jun-11 Jul-12 vs. Jul-11 Aug-12 vs. Aug-11 Sep-12 vs. Sep-11 Oct-12 vs. Oct-11 Nov-12 vs. Nov-11 On the Books months total % C h a n g e i n O c c u p . R a t e & A D R Percent Change in Occupancy Rate: YTD 11/12 vs. YTD 10/11 Percent Change in ADR: YTD 11/12 vs. YTD 10/11 Historic On the Books Historic On the Books Historic On the Books Historic On the Books 6/8/2012Source: MTRiP Monthly Reservations Activity Survey 2 RESERVATIONS ACTIVITY REPORT SECTION 2 - SUMMER SEASON SUMMARY GRAPHS 2012 YTD (as of May 31, 2012) vs. 2011 YTD (as of M ay 31, 2011) vs. 2011 Historical NOTE: This is not a forecast of bookings. Data presented in this report represents Occupancy on the books as of the date noted above Period: Bookings as of April 30, 2007 Historic months total Historic Forecast Historic Forecast Historic Forecast Chart 2a - Occupancy Rate 45% 60% 51% 38% 22% 39% 17% 38%43% 29% 6% 25% 14% 38%36% 21% 6% 21%18%12%21% 0% 20% 38% 47% 5% 18% -40% -20% 0% 20% 40% 60% 80% 100% MayJuneJulyAugustSeptemberOctoberSummer Total Oc c u p a n c y R a t e & % C h g i n O c c u p R a t e -40% -20% 0% 20% 40% 60% 80% 100% Historic Actual Occup. Rate (2011 Season) Occup. Rate as of: May 31, 2012 (2012 Season) Occup. Rate as of: May 31, 2011 (2011 Season) Percent Change in YTD Occ. Rate Historic On the Books Chart 2b - Average Daily Rate $1 2 4 $1 5 8 $1 9 4 $1 9 8 $1 4 7 $1 2 1 $1 7 0 $1 3 0 $1 7 0 $1 5 4 $1 8 7 $1 8 2 $1 5 1 $1 2 9 $1 6 5 $1 5 3 $1 9 7 $1 9 7 $1 5 6 $1 2 1 0% -4% 3% -1%1% -6% -1% $0 $50 $100 $150 $200 $250 MayJuneJulyAugustSeptemberOctoberSummer Total AD R -8% -6% -4% -2% 0% 2% 4% Pe r c e n t C h a n g e i n A D R ADR as of: May 31, 2012 (2012 Season) ADR as of: May 31, 2011 (2011 Season) Historic Actual ADR (2011 Season) Percent Change YTD ADR Historic On the Books Chart 2c - Revenue per Available Room $2 1 $6 0 $8 3 $5 8 $2 6 $7 $4 2 $1 8 $5 8 $7 0 $4 2 $1 9 $7 $3 6 $6 9 $1 1 2 $9 2 $5 7 $2 8 $6 4 18%16% 3% 18% 39% 39% 4%$0 $20 $40 $60 $80 $100 $120 MayJuneJulyAugustSeptemberOctoberSummer Total Re v P A R 0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100% Pe r c e n t C h a n g e i n R e v P A R RevPAR as of: May 31, 2012 (2012 Season) RevPAR as of: May 31, 2011 (2011 Season) Historic Actual RevPAR (2011 Season) Percent Change in YTD RevPAR Historic On the Books Chart 2d - Percent Change in YTD Occupancy Rate & ADR (2012 YTD vs. 2011 YTD) 21% 0% 20% 38% 47% 5% 18% -4% 3% -1% 1% -6% -1% 0% -10% 0% 10% 20% 30% 40% 50% May 12 vs May 11Jun 12 vs Jun 11Jul 12 vs Jul 11Aug 12 vs Aug 11Sept 12 vs Sept 11Oct 12 vs Oct 11Summer Total % C h a n g e i n O c c u p . R a t e & A D R Percent Chg in Occupancy YTD: 2012 vs 2011 Percent Chg in ADR YTD: 2012 vs 2011 Historic On the Books 6/8/2012Source: MTRiP Monthly Reservations Activity Survey 3 RESERVATIONS ACTIVITY REPORT SECTION 3 - WINTER SEASON SUMMARY GRAPHS 2012/13 YTD (as of May 31, 2012) vs. 2011/12 YTD (a s of May 31, 2011) vs. 2011/12 Historical NOTE: This is not a forecast of bookings. Data presented in this report represents Occupancy on the books as of the date noted above Historic Forecast Historic Forecast Chart 3a - Occupancy Rate 28%28% 3%3%3%3% 3%3% -40% -20% 0% 20% 40% 60% 80% 100% NovemberDecemberJanuaryFebruaryMarchAprilWinter Total Oc c u p a n c y R a t e & % C h g i n O c c u p R a t e -40% -20% 0% 20% 40% 60% 80% 100% Historic Actual Occup. Rate (2010/11 season) Occup. Rate as of: May 31, 2012 (2011/12 season) Occup. Rate as of: May 31, 2011 (2010/11 season) Percent Change in YTD Occ. Rate Chart 3b - Average Daily Rate $1 2 3 $1 2 3 $1 2 4 $1 2 4 $1 4 6 $1 4 6 0% 0% $110 $115 $120 $125 $130 $135 $140 $145 $150 NovemberDecemberJanuaryFebruaryMarchAprilWinter Total AD R 0% 0% 0% 0% 0% 0% 0% Pe r c e n t C h a n g e i n A D R ADR as of: May 31, 2012 (2011/12 season) ADR as of: May 31, 2011 (2010/11 season) Historic Actual ADR (2010/11 season) Percent Change in YTD ADR Chart 3c - Revenue per Available Room $4 $4 $4 $4 $4 1 $4 1 2%2%$0 $5 $10 $15 $20 $25 $30 $35 $40 $45 NovemberDecemberJanuaryFebruaryMarchAprilWinter Total Re v P A R 0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100% Pe r c e n t C h a n g e i n R e v P A R RevPAR as of: May 31, 2012 (2011/12 season) RevPAR as of: May 31, 2011 (2010/11 season) Historic Actual RevPAR (2010/11 season) Percent Change in YTD ADR Chart 3d - Percent Change in YTD Occupancy Rate & ADR (2011/12 YTD vs. 2010/11 YTD) 3%3% 0%0%-1% -1% 0% 1% 1% 2% 2% 3% 3% 4% Nov 12 vs Nov 11Dec 12 vs Dec 11Jan 13 vs Jan 12Feb 13 vs Feb 12Mar 13 vs Mar 12Apr 13 vs Apr 12Winter Total % C h a n g e i n O c c u p . R a t e & A D R Percent Chg in Occupancy YTD: 2011/12 vs 2010/11 Percent Chg in ADR YTD: 2011/12 vs 2010/11 6/8/2012 Source: MTRiP Monthly Reservations Activity Survey 4 RESERVATIONS ACTIVITY REPORT SECTION 4 - FILL ANALYSIS 2011/12 Occupancy Pace as of May 31, 2012 and Apr. 30, 2012 versus same period 2010/11 NOTE: This is not a forecast of bookings. Data presented in this report represents Occupancy on the books as of the date noted above PERIOD: Bookings as of July 31, 2007 Period: Bookings as of October 31, 2006 Historic ActualOn The Books OCCUPANCY AS OF MAY 31 OCCUPANCY AS OF APR 30 Occupancy Occupancy Occupancy Occupancy Incremental Incremental Absolute Percent 2010/11 as ofas ofAbsoluteas ofas ofAbsoluteoccupancy bookedoccupancy bookedChange inChange inHistoric actual Month of Occupancy:05/31/12 05/31/11 Change 04/30/12 04/30/11 Change during May. 2012 during May. 2011 Incremental Fill Incremental Fill**occupancy May16.9%14.1%2.9%10.2%9.9%0.3%6.8%4.2%2.6%60.9%14.1% June37.5%37.7%-0.1%26.3%26.3%0.0%11.2%11.3%-0.1%-1.0%44.5% July42.7%35.6%7.1%32.5%28.4%4.1%10.2%7.2%3.0%42.0%60.2% August29.2%21.2%8.0%23.1%17.0%6.1%6.1%4.2%2.0%46.9%50.9% September17.9%12.2%5.8%15.5%10.6%4.9%2.4%1.5%0.9%56.9%37.8% October 5.8%5.6%0.3%5.4%4.3%1.0%0.5%1.2%-0.8%-62.5%21.7% Total 25.1%21.3%3.9%19.0%16.3%2.7%6.2%5.0%1.2%24.3%38.7% “*Based on providing complete pacing data within a given month of occupancy only. Results may differ from those presented elsewhere in report if property set differs.” **Results for "percent change in incremental fill" indicate how room nights booked during the month just ended compare to room nights booked during the same month in the prior year, for occupancy in the month just ended and for the upcoming five months (as well as the six-month period in total). These results provide an indication of the degree to which booking activity occurring during the month just ended was greater or less than booking activity occurring in the same month a year ago -- i.e. a measure of the strength of booking activity occurring during the month just ended. Supporting Table for Chart 4* & Change in Increment al Fill INCREMENTAL OCCUP. BOOKEDCHG IN INCREMENTAL OCCUP. (i.e. FILL DURING MONTH JUST ENDED)BOOKED (I.e CHANGE IN FILL) Chart 4 - Year over Year Fill Analysis 14% 38%36% 17% 38% 43% 29% 18% 6% 21% 12% 6% 26% 32% 23% 26%28% 17% 11%10% 16% 5% 10% 4% 44.5% 60.2% 50.9% 37.8% 21.7% 0% 10% 20% 30% 40% 50% 60% 70% 80% MayJuneJulyAugustSeptemberOctober Month of Occupancy Oc c u p a n c y R a t e 0% 10% 20% 30% 40% 50% 60% 70% 80% Occupancy as of 05/31/12 Occupancy as of 05/31/11 Occupancy as of 04/30/12 Occupancy as of 04/30/11 2010/11 Historic actual occupancy 6/8/2012 Source: MTRiP Monthly Reservations Activity Survey 5 RESERVATIONS ACTIVITY REPORT SECTION 5A - SUPPORTING DATA TABLES Bookings as of May 31, 2012 NOTE: This is not a forecast of bookings. Data presented in this report represents Occupancy on the books as of the date noted above OCCUPANCY RATE OCCUPANCY RATE: YTD 2011/12 VS. YTD 2010/11 Occup. Rate as of:Occup. Rate as of: PercentHistoric Actual# of May 31, 2012May 31, 2011 Change inOccup. RateProperties Month of Occupancy (2011/12 & 2010/11)(2011/12 season)(2010/11 season)#YTD Occ. Rate(2010/11 season)in Sample December 59.3%56.0%5.9%24 January 66.4%67.0%-0.9%23 February 72.1%73.0%-1.2%24 March 74.6%73.4%1.6%24 April 31.0%38.5%-19.5%23 May Historic Actual 16.6%13.7%21.0%23 June On the Books 37.5%37.7%-0.3%44.5%21 July 42.7%35.6%19.9%60.2%21 August 29.2%21.2%37.9%50.9%21 September 17.9%12.2%47.3%37.8%21 October 5.8%5.6%4.6%21.7%21 November 3.0%2.9%2.9%28.1%20 Grand total 39.3%37.4%5.2%47.9%24 Historic months total54.4%54.5%-0.2%54.5%24 On the Books months total 22.8%19.4%17.4%40.8%21 AVERAGE DAILY RATE ADR: YTD 2011/12 VS. YTD 2010/11 ADR as of:ADR as of:PercentHistoric Actual# of May 31, 2012May 31, 2011ChangeADRProperties Month of Occupancy (2011/12 & 2010/11)(2011/12 season)(2010/11 season)in YTD ADR(2010/11 season)in Sample December $479$41216.4%24 January $411$3856.7%23 February $440$4321.9%24 March $428$4221.4%24 April $287$20242.0%23 May Historic Actual $124 $130 -4.2%23 June On the Books $158$1533.3%$15421 July $194$197-1.4%$18721 August $198$1970.5%$18221 September $147$156-5.9%$15121 October $121$121-0.7%$12921 November $123$124-0.5%$14620 Grand total $345 $326 5.9%$290 24 Historic months total$410$3788.5%$37824 On the Books months total $174 $173 0.6%$165 21 REVENUE PER AVAILABLE ROOM REVPAR: YTD 2011/12 VS. YTD 2010/11 RevPAR as of:RevPAR as of:PercentHistoric Actual# of May 31, 2012May 31, 2011Change inRevPARProperties Month of Occupancy (2011/12 & 2010/11)(2011/12 season)(2010/11 season)YTD RevPAR(2010/11 season)in Sample December $284$23023.2%24 January $273$2585.8%23 February $318$3150.7%24 March $319$3103.0%24 April $89$7814.4%23 May Historic Actual $21 $18 15.9%23 June On the Books $60$582.9%$6921 July $83$7018.2%$11221 August $58$4238.6%$9221 September $26$1938.6%$5721 October $7$73.9%$2821 November $4$42.4%$4120 Grand total $136 $122 11.4%$139 24 Historic months total$223$2068.3%$20624 On the Books months total $40 $34 18.1%$67 21 6/8/2012 Source: MTRiP Monthly Reservations Activity Survey 6 RESERVATIONS ACTIVITY REPORT SECTION 5B - SUPPORTING SUMMER DATA TABLES Summer Bookings as of May 31, 2012 NOTE: This is not a forecast of bookings. Data presented in this report represents Occupancy on the books as of the date noted above OCCUPANCY RATE OCCUPANCY RATE: YTD 2011 VS. YTD 2010 Occup. Rate as of:Occup. Rate as of: PercentHistoric Actual May 31, 2012May 31, 2011 Change inOccup. Rate Month of Occupancy (2012 & 2011)(2012 Season)(2011 Season) YTD Occ. Rate(2011 Season) May Historic Actual 16.6%13.7%21.0% June On the Books 37.5%37.7%-0.3%44.5% July 42.7%35.6%19.9%60.2% August 29.2%21.2%37.9%50.9% September 17.9%12.2%47.3%37.8% October 5.8%5.6%4.6%21.7% Summer Total 25.0%21.2%18.3%38.5% AVERAGE DAILY RATE ADR: YTD 2011 VS. YTD 2010 ADR as of:ADR as of:PercentHistoric Actual May 31, 2012May 31, 2011ChangeADR Month of Occupancy (2012 & 2011)(2012 Season)(2011 Season)YTD ADR(2011 Season) May Historic Actual $124 $130 -4.2% June On the Books $158 $153 3.3%$154 July $194$197-1.4%$187 August $198$1970.5%$182 September $147$156-5.9%$151 October $121$121-0.7%$129 Summer Total $170 $170 -0.1%$165 REVENUE PER AVAILABLE ROOM REVPAR: YTD 2011 VS. YTD 2010 RevPAR as of:RevPAR as of:PercentHistoric Actual May 31, 2012 May 31, 2011 Change in RevPAR Month of Occupancy (2012 & 2011)(2012 Season)(2011 Season)YTD RevPAR(2011 Season) May Historic Actual $21 $18 15.9% June On the Books $60 $58 2.9%$69 July $83$7018.2%$112 August $58$4238.6%$92 September $26$1938.6%$57 October $7$73.9%$28 Summer Total $42 $36 18.2%$64 6/8/2012Source: MTRiP Monthly Reservations Activity Survey7 RESERVATIONS ACTIVITY REPORT SECTION 5C - SUPPORTING WINTER DATA TABLES Winter Bookings as of May 31, 2012 NOTE: This is not a forecast of bookings. Data presented in this report represents Occupancy on the books as of the date noted above OCCUPANCY RATE OCCUPANCY RATE: YTD 2011/12 VS. YTD 2010/11 Occup. Rate as of:Occup. Rate as of: PercentHistoric Actual May 31, 2012May 31, 2011 Change inOccup. Rate Month of Occupancy (2011/12 & 2010/11)(2011/12 season)(2010/11 season) YTD Occ. Rate(2010/11 season) November On the Books 3.0%2.9%2.9%28.1% December January February March April Winter Total 3.0%2.9%2.9%28.1% AVERAGE DAILY RATE ADR: YTD 2011/12 VS. YTD 2010/11 ADR as of:ADR as of:PercentHistoric Actual May 31, 2012May 31, 2011Change inADR Month of Occupancy (2011/12 & 2010/11)(2011/12 season)(2010/11 season) YTD ADR(2010/11 season) November On the Books $123 $124 -0.5%$146 December January February March April Winter Total $123 $124 -0.5%$146 REVENUE PER AVAILABLE ROOM REVPAR: YTD 2011/12 VS. YTD 2010/11 RevPAR as of:RevPAR as of:PercentHistoric Actual May 31, 2012 May 31, 2011 Change in RevPAR Month of Occupancy (2011/12 & 2010/11)(2011/12 season)(2010/11 season) YTD ADR(2010/11 season) November On the Books $4 $4 2.4%$41 December January February March April Winter Total $4 $4 2.4%$41 6/8/2012Source: MTRiP Monthly Reservations Activity Survey8