Source: PKF Hospitality Research – 3 rd Quarter 2009 Hotel Horizons ® Report, Smith Travel Research = Below/Above Long Run Average New Orleans 3 rd Quarter 2009 Long Term Average F2010F2011F2012F2013F Supply 2.4%-2.0%11.1%2.3%3.7%3.1%0.8%2.5%3.2% Demand 2.4%-11.5%3.4%11.2%-6.5%2.8%1.7%3.8%3.4% Occupancy 68.4%62.3%58.0%63.0%56.8%56.6%57.2%57.9%58.1% ADR 2.8%1.6%-1.8%1.6%-4.1%4.2%6.9%6.4%4.6% RevPAR 2.9%-8.2%-8.7%10.5%-13.6%3.9%8.0%7.8%4.9%

Source: PKF Hospitality Research – 3 rd Quarter 2009 Hotel Horizons ® Report, Smith Travel Research = Below/Above Long Run Average New Orleans – Upper Priced 3 rd Quarter 2009 Long Term Average F2010F2011F2012F2013F Supply 1.9%-0.8%8.9%1.3%3.9%4.0%0.4%1.8%2.5% Demand 1.9%-13.3%4.0%10.4%-4.4%2.3%0.4%3.4%3.0% Occupancy 69.4%60.7%58.0%63.2%58.1%57.2% 58.1%58.4% ADR 2.7%-2.3%2.0%1.4%-4.6%4.5%9.1%6.5%4.3% RevPAR 2.9%-14.6%-2.6%10.5%-12.2%2.9%9.1%8.1%4.8%

Source: PKF Hospitality Research – 3 rd Quarter 2009 Hotel Horizons ® Report, Smith Travel Research = Below/Above Long Run Average New Orleans – Lower Priced 3 rd Quarter 2009 Long Term Average F2010F2011F2012F2013F Supply 3.8%-4.6%15.9%4.5%3.3%1.3%1.6%3.9%4.6% Demand 3.5%-7.4%2.1%13.0%-10.8%3.8%4.7%4.8%4.3% Occupancy 66.2%65.8%58.0%62.7%54.1%55.5%57.1%57.7%57.5% ADR 4.2%16.7%-12.8%3.2%-5.0%3.7%1.9%6.5%6.2% RevPAR 4.2%13.3%-23.2%11.5%-18.0%6.3%5.0%7.5%5.9%