1. Daniel C. Hanrahan II, MAI, CRE Gregory T. Bohan
Rachel J. Roginsky, ISHC
Daniel C. Hanrahan II, MAI, CRE
Gregory T. Bohan
76 Canal Street, Boston, MA ~ 617/
238 South State Street, Newtown, PA ~ 215/
3418 Norfolk Street, Pompano Beach, FL. ~ 954/

2. National Trends – Occupancy and ADR

3. Top and Bottom 5 Markets – Percent RevPAR Change 2003

4. Historical Trends by Area
Boston / Cambridge
Historical Trends
Occupancy
ADR
RevPAR
Historical Trends by Area

5. Boston / Cambridge Occupancy 1990 – 2003

6. Boston / Cambridge ADR 1990 – 2003

7. Boston / Cambridge RevPAR 1990 – 2003

8. Boston/Cambridge 2003 by Area
5.0%
Back Bay
Downtown
Other
Cambridge
0.0%
-5.0%
Occupancy
Avg Rate
-10.0%
RevPAR
-15.0%
-20.0%

9. Commercial Demand Leisure Demand Group Demand New Supply Projections
Boston / Cambridge Outlook 2004
Commercial Demand
Leisure Demand
Group Demand
New Supply
Projections

10. Growth in High Tech Industries Financial Services
Commercial Demand
Improving Economy
Growth in High Tech Industries
Financial Services
Improving Stock Market
Consolidation
Pharmaceutical and Biotech

11. More Stable Geopolitical Situation New Low-Cost Air Carriers
Leisure Demand
Improving Economy
Weak Dollar
More Stable Geopolitical Situation
New Low-Cost Air Carriers

12. Strong Citywide Demand Strong Short Term Pick-up
Group Demand
Strong Citywide Demand
18 vs 15 in 2003
Strong Short Term Pick-up
Added 2 Large Groups (1,500+ on Peak)
Group Definites at the “Big 6” are 14% above last year

13. Courtyard at 88 Exeter – Back Bay – 81 Rooms - April
Boston/Cambridge New Supply 2004
Courtyard at 88 Exeter – Back Bay – 81 Rooms - April
Hotel Onyx – N. Station – 112 Rooms – May
Jurys Doyle – Back Bay – 220 Rooms – June
Clarion – N. Station – 88 Rooms – June
Hampton Inn and Suites – Crosstown
– 175 Rooms – June

14. Hotels Rooms 1 164 5 1,841 13 4,953 2005 New Supply 2005-2007 2006
2007 & Beyond 13
4,953

15. 2003 2004 Change Occupancy 70.3% 72.3% 2.8% Average Rate $152.71
PAG Projections 2004
2003
2004
Change
Occupancy
70.3%
72.3%
2.8%
Average Rate
$152.71
$155.76
2.0%
RevPAR
$107.36
$112.61
4.9%

16. Boston Convention and Exhibition Center
1.6 million square feet
Third largest in the Mid Atlantic and Northeast
Grand Opening June 24, 2004
Westin Headquarters Hotel Open June 2006

17. The Future Of the Boston Convention Market
Closure of the Hynes
Could be sold July 1, 2006
Room Blocks
BCEC Groups will be required to use Back Bay Hotels
Marketing Leadership
Facility
Location

18. The Changing Face of Boston
Boston is no longer a “Backwater”
Completion of the Big Dig is already having a positive effect
World-Class Convention Center
Excellent Transportation Infrastructure
$14.6 Billion on Big Dig
$1.2 Billion on Logan Modernization

19. Nationally: the floodgates are wide open
Capital Markets
Nationally: the floodgates are wide open
Boston: the gates are still closed

20. PINNACLE ADVISORY GROUP
76 Canal Street Boston, MA ~ 617/
238 South State Street, Newtown, PA ~ 215/
3418 Norfolk Street, Pompano Beach, FL ~ 954/