1. New Orleans Hospitality Outlook
October 10, 2017

2. Components of Hotel Occupancy

3. Group and Transient Occupancy Trend New Orleans Downtown Hotels
STR: August 2017

4. STR: August 2017

5. 2018 Monthly/Quarterly Convention Booking Outlook
1 Year Out
2018 as of 2017
LY % Chg
3 Yr % Chg
Jan
104,163
-11.54%
7.67%
Feb
89,170
32.65%
4.55%
Mar
160,420
33.13%
33.08% Q1
353,753
15.80%
16.92%
Apr
156,459
60.88%
23.06%
May
122,783
1.19%
-6.54%
Jun
121,654
-18.85%
-10.19% Q2
400,896
8.79%
1.76%
Jul
105,230
-26.94%
-11.97%
Aug
78,207
26.90%
34.01%
Sep
70,093
34.90%
24.97% Q3
253,530
-1.59%
8.35%
Oct
148,435
45.23%
57.68%
Nov
75,861
-40.29%
-15.07%
Dec
22,564
-57.87%
-47.74% Q4
246,860
-12.71%
8.92%
Total
1,255,039
3.35%
8.46%

6. Existing/New Hotel Inventory by Neighborhood

7. 5,307 AirBnB Rentals Available in New Orleans
Citywide Estimated
Occupancy – 40.6%
Estimated Nightly Rate - $200
Source: Inside AirBnB, Sept 2017

8. AirBnB Rates in Select Neighborhoods
$187
$153
$195
$205
$252
$133
$321
$173
$225
$265
$180
$281
Source: Inside AirBnB, Sept 2017

9. New Orleans Occupancy and ADR
2017F
Occ
2018F
2016
ADR
2017F ADR
2018F ADR
New Orleans
68.7%
69.0%
69.1%
$148.65
$147.57
$149.39
Atlanta
69.8%
69.4%
$103.60
$106.55
$109.52
Dallas
71.4%
70.2%
69.7%
$103.50
$105.36
$107.19
Houston
62.3%
59.9%
59.4%
$104.65
$104.21
$104.35
Nashville
74.7%
73.4%
72.1%
$134.48
$138.08
$141.58
Orlando
75.5%
76.3%
76.0%
$115.96
$119.92
$122.79

10. New Orleans Occupancy and ADR vs. US
Occupancy (growth)
ADR (growth)
2016
2017 YTD
2017F
2018F
Total United States
0.1%
0.7%
0.0%
-0.2%
3.1%
2.3%
2.5%
New Orleans, LA
-1.3%
0.4%
-1.0%
-0.7%
1.2%
Source: Smith Travel Research, Sept 2017

11. Market Occ ADR Market Occ ADR 2017 Growth Rank Growth 2018 Growth Rank
 2017 Growth Rank
Growth
Market
Occ
ADR 1
Seattle, WA
2.2%
4.8% 2
Norfolk-Virginia Beach, VA
3.0%
2.4% 3
Washington, DC-MD-VA
0.0%
5.1% 4
Orlando, FL
1.1%
3.4% 5
Detroit, MI
1.0% 6
Anaheim-Santa Ana, CA
-0.3%
4.7% 7
San Diego, CA
3.2% 8
Oahu Island, HI
-0.2%
4.2% 9
Tampa-St Petersburg, FL
-0.5%
3.8% 10
Phoenix, AZ
-0.4%
3.6% 11
Atlanta, GA
-0.6%
2.8% 12
Chicago, IL
0.3%
1.5% 13
St Louis, MO-IL
-0.9%
2.6% 14
Los Angeles-Long Beach, CA
2.0% 15
Boston, MA
1.9% 16
Nashville, TN
-1.8%
2.7% 17
Denver, CO
-1.5% 18
New York, NY
0.9%
-0.7% 19
Dallas, TX
-1.6%
1.8% 20
Philadelphia, PA-NJ
-1.3%
1.4% 21
Minneapolis St Paul, MN-WI
-1.0% 22
San Francisco-San Mateo, CA
0.2% 23
New Orleans, LA
0.4% 24
Miami-Hialeah, FL
-2.1% 25
Houston, TX
-3.7%
 2018 Growth Rank
Growth
Market
Occ
ADR 1
San Francisco-San Mateo, CA
0.7%
3.4% 2
Tampa-St Petersburg, FL
0.3%
3.6% 3
San Diego, CA
-0.4%
4.0% 4
Oahu Island, HI
2.7% 5
Seattle, WA
0.6%
2.6% 6
Minneapolis St Paul, MN-WI
2.4% 7
Los Angeles-Long Beach, CA
0.2%
2.8% 8
Detroit, MI
0.8%
2.1% 9
St Louis, MO-IL
1.9% 10
Atlanta, GA
-0.1% 11
Boston, MA
1.1%
1.6% 12
Anaheim-Santa Ana, CA
2.9% 13
Phoenix, AZ
1.7% 14
Denver, CO
-0.3% 15
Philadelphia, PA-NJ
0.0% 16
Orlando, FL
-0.5% 17
Chicago, IL
-0.2%
2.0% 18
Washington, DC-MD-VA
-0.6%
2.2% 19
New Orleans, LA
0.1%
1.2% 20
Norfolk-Virginia Beach, VA
1.5% 21
New York, NY 22
Dallas, TX
-0.7% 23
Nashville, TN
-1.8%
2.5% 24
Miami-Hialeah, FL
-1.2% 25
Houston, TX
-0.8%

12. Growth of Supply, Demand & Revenue
Supply (room nights, growth)
Demand (room nights, growth)
Revenue (USD, growth)
2016
2017 YTD
2017F
2018F
Total United States
1.5%
1.8%
2.0%
2.1%
1.6%
2.5%
1.9%
4.7%
4.9%
4.3%
4.4%
Top 25 Markets
Anaheim/Santa Ana, CA
2.8%
2.2%
2.3%
7.1%
6.5%
4.8%
Atlanta, GA
1.4%
0.9%
7.5%
3.7%
5.0%
Boston, MA
3.4%
2.7%
1.2%
0.4%
4.2%
3.9%
Chicago, IL
0.5%
2.6%
4.1%
Dallas, TX
3.1%
3.2%
8.0%
3.5%
4.5%
Denver, CO
3.6%
4.0%
1.1%
2.9%
2.4%
6.6%
5.9%
Detroit, MI
5.7%
8.5%
6.9%
Houston, TX
5.6%
4.6%
-3.9%
0.7%
-7.5%
1.0%
0.2%
Los Angeles/Long Beach, CA
-0.1%
10.8%
5.5%
Miami/Hialeah, FL
3.3%
-1.5%
-0.9%
Minneapolis/St Paul, MN-WI
3.8%
3.0%
9.1%
5.1%
Nashville, TN
10.3%
6.8%
New Orleans, LA
1.7%
New York, NY
5.2%
5.8%
5.3%
Norfolk/Virginia Beach, VA
0.1%
6.7%
8.1%
Oahu Island, HI
5.4%
0.6%
9.4%
7.3%
Orlando, FL
-0.4%
Philadelphia, PA-NJ
Phoenix, AZ
6.4%
San Diego, CA
San Francisco/San Mateo, CA
0.8%
-0.7%
-1.8%
Seattle, WA
11.6%
10.1%
St Louis, MO-IL
Tampa/St Petersburg, FL
Washington, DC-MD-VA
1.3%
6.3%
9.7%

13. Supply year-end (% growth in average rooms at year-end)
2016
2017F
2018F
Total United States
1.7%
2.2%
2.1%
Top 25 Markets
Anaheim/Santa Ana, CA
3.1%
3.0%
0.9%
Atlanta, GA
1.3%
1.9%
2.7%
Boston, MA
4.5%
2.3%
2.8%
Chicago, IL
1.5%
2.9%
Dallas, TX
3.4%
Denver, CO
3.5%
4.6%
Detroit, MI
0.8%
Houston, TX
6.3%
3.9%
Los Angeles/Long Beach, CA
0.3%
4.1%
Miami/Hialeah, FL
4.7%
Minneapolis/St Paul, MN-WI
6.2%
1.0%
Nashville, TN
New Orleans, LA
3.3%
1.1%
New York, NY
5.1%
3.8%
Norfolk/Virginia Beach, VA
-1.2%
0.7%
Oahu Island, HI
0.4%
2.6%
Orlando, FL
Philadelphia, PA-NJ
2.0%
Phoenix, AZ
1.4%
0.6%
San Diego, CA
San Francisco/San Mateo, CA
0.5%
Seattle, WA
4.4%
St Louis, MO-IL
1.2%
Tampa/St Petersburg, FL
-1.3%
Washington, DC-MD-VA
1.8%
2.5%
2.4%

14. Bottom Line New Orleans hospitality industry is strong through 2017
Remains strong through 2018
City is not overbuilt in hotel inventory as long as transient demand remains strong
2018: Q1 Q2 Q3 Q4