Tampa Bay Area
Lodging Investment Overview
HCHMA Trends & Forecasting Forum
Tampa, Florida
August 4th, 2016
Presented by:
All information in this presentation is confidential and is the property of The Plasencia Group, Inc., subject to limitations of any client contract.
© 2016 The Plasencia Group, Inc.
Page 2Tampa Bay Area Lodging Investment Overview
Presentation Disclaimer
■ We are merely presenting information today regarding the economy and the
lodging sector, as well as our firm’s perceptions on the economy and the industry’s
performance.
■ We are not in any way recommending or urging you to take any action whatsoever
as a result of our presentation. Any actions you may decide to take resulting from
any comments today would be at your own risk.
■ We recommend you independently validate today’s information.
■ We make no representation that any statements or projections we may present
today will actually come to fruition.
Page 3Tampa Bay Area Lodging Investment Overview
TPG Background
■ Founded in 1993, specializing exclusively in hospitality real estate throughout the United
States, Canada, Mexico and the Caribbean
■ Completed over $15 billion in sales, financings, and developments for hundreds of hotel,
resort and mixed use engagements
■ Corporate headquarters in Tampa with offices throughout the United States
■ Divisions include:
• Investments & Transactions – acquisitions and dispositions, mainly of Upper
Upscale and Luxury full service hotels and resorts
• Capital Markets – Raising investment equity and placing debt for acquisitions,
refinancings and repositionings
• Advisory and Consulting – Providing ownership oversight on behalf of clients and
investment partnerships; Managing hotel construction and renovations for clients and
investment partnerships
Page 4Tampa Bay Area Lodging Investment Overview
Florida Visitor Volume (2005-2015)
83.6 83.9 84.5 84.280.9
82.3
87.3
91.594.1
98.9101.8
55
65
75
85
95
105
2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015
Vis
ito
rs (
mill
ion
s)
Source: Visit Florida
Page 5Tampa Bay Area Lodging Investment Overview
Florida International Visitor Volume (2005-2015)
Source: Visit Florida
6.4 6.2
7.2
8.1
9.6
11.1
12.6
13.9
15.4 15.716.1
5
7
9
11
13
15
17
2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015
Vis
ito
rs (
mill
ion
s)
Page 6Tampa Bay Area Lodging Investment Overview
Florida Visitor Trip Purpose (2015)
Source: D.K. Shifflet & Associates; Visit Florida
38%
26%
10%
8%
7%
11%
General Vacation Visit Relatives/Friends Weekend Getaway
Special Event Other Leisure Business
Page 7Tampa Bay Area Lodging Investment Overview
Florida Visitor Profile by Trip Purpose (2015)
(1) Visiting Friends & Relatives data is included in Leisure.
(2) Visitors visiting friends and relatives typically inspire increased entertainment and travel spending by their hosts, which is not
reflected in this study.
Source: D.K. Shifflet & Associates; Visit Florida
Leisure
Visiting Friends &
Relatives (1) Business
Percentage of Total
Domestic Visitation89% 26% 11%
Per Day Spend $145 $97 (2) $260
Average Length of Stay 4.5 nights 4.3 nights 3.1 nights
Paid Accommodation 60% 21% 84%
Average Party Size 2.3 1.9 1.4
Leading Season Summer (30%) Winter (29%) Fall (29%)
States of Origin
Georgia (10%)
New York (9%)
Ohio (5%)
New York (12%)
Georgia (10%)
Pennsylvania (5%)
Georgia (13%)
New York (11%)
Texas (9%)
Trip Value $1,751 $931 $1,401
Page 8Tampa Bay Area Lodging Investment Overview
Strong T-12 RevPAR Growth in Major FL Markets
ADR Rate of Growth
Occupancy Rate of Growth
RevPAR Rate of Growth
All segments; Twelve months ending May 2016.
Source: Smith Travel Research.
6.0%
4.7% 4.4%
0.3%
3.6%
-5.0%
0.0%
5.0%
10.0%
Tampa BayArea
Orlando FortLauderdale
Miami Florida
3.1%
1.4%
-0.7% -0.6%
1.2%
-5.0%
0.0%
5.0%
10.0%
Tampa BayArea
Orlando FortLauderdale
Miami Florida
9.3%
6.2%
3.6%
-0.3%
4.9%
-5.0%
0.0%
5.0%
10.0%
Tampa BayArea
Orlando FortLauderdale
Miami Florida
Page 9Tampa Bay Area Lodging Investment Overview
Supply and Demand Across Florida Markets
-0.1%
0.5%
3.0%
4.2%
1.3% 1.3%
3.0%
1.9%
2.3%
3.6%
2.5%
2.1%
-1.0%
0.0%
1.0%
2.0%
3.0%
4.0%
5.0%
Tampa Bay Area Orlando Fort Lauderdale Miami Florida U.S.
Supply Growth Demand Growth
Twelve months ending May 2016.
Source: Smith Travel Research.
Page 10Tampa Bay Area Lodging Investment Overview
Transaction Environment
United States
■ The overall number (volume) of hotel sales has decreased dramatically as REITs have stopped
buying.
■ Vast amounts of sovereign money continue to flow into the United States due to uncertainty in
other parts of the world. The USA is seen, now more than ever, as the safest haven for foreign
capital.
■ Increases in room supply in many major markets is now resulting in very little growth in
occupancy while ADR has been the driving component in RevPAR growth..
Tampa Bay
■ US investment activity peaked in late 2015 but transaction pace in the Tampa Bay area has actually
increased.
■ There have already been at least two major transactions (above $20M) in the Tampa Bay area this
year, and at least three more will occur by year end.
■ A new record will be set in our region this year as sale volume and per-key pricing will be the
highest ever recorded.
Page 11Tampa Bay Area Lodging Investment Overview
US Lodging Capitalization Rates and Investor Returns
Cap Rates (Stabilized Properties)
■ 6.0% to 7.0% for luxury hotels or full-service hotels in
gateway markets
■ 7.0% to 8.0% for full-service hotels in secondary markets
■ 8.0% to 9.5% for select-service hotels in primary and
secondary markets
IRRs
■ Unlevered: 8.0% to 10.0%
■ Levered: 18.0% to 20.0%
Page 12Tampa Bay Area Lodging Investment Overview
Florida Hotel Investment Trends
Hotel values in Florida reflect increased profitability, having grown sharply in recent years and
having surpassed both prior peaks and the national average. Florida assets continue to garner
attention from domestic and foreign capital sources seeking to invest in a robust lodging market.
Note: 2013 data includes the transactions of the Fontainebleau Miami Beach and the Hyatt Regency Orlando Convention Center,
the two largest transactions by volume in the entire date range, which accounts for peak in FL Price Per Key in that year.
Source: Real Capital Analytics. Includes all transactions over $10 million.
$30,000
$70,000
$110,000
$150,000
$190,000
$230,000
$270,000
$310,000
$350,000
–
$1
$2
$3
$4
$5
$6
$7
$8
2009 2010 2011 2012 2013 2014 2015 YTD July2016
Price P
er Key
Gro
ss V
olu
me
(billio
ns)
FL Gross Volume (billions) FL Price Per Key U.S. Price Per Key
Page 13Tampa Bay Area Lodging Investment Overview
Florida Gulf Coast Hotel Sales (25 Most Recent Transactions)
Note: Includes transactions over $10 Million. Source: Real Capital Analytics
Date Hotel City Keys Price Price per Key
Feb-16 Hyatt Regency Clearwater Beach Resort Clearwater Beach 250 $120,500,000 $482,000
Dec-15 Holiday Inn Sanibel Island Sanibel 98 $27,000,000 $275,510
Nov-15 Aloft Tampa Downtown Tampa 130 $28,621,500 $220,165
Jun-16 Hilton Tampa Downtown Tampa 521 $101,000,000 $193,858
May-16 Courtyard by Marriott Naples 98 $18,800,000 $191,837
Jul-16 Residence Inn Clearwater Downtown Clearwater 115 $18,000,000 $156,522
Aug-15 Pierview Hotel & Suites Fort Myers Beach 70 $10,900,000 $155,714
Jun-16 Hampton Inn & Suites Wesley Chapel 94 $13,900,000 $147,872
Jul-16 Hyatt Place Sarasota / Bradenton Airport Sarasota 114 $16,100,000 $141,228
Dec-15 Hampton Inn & Suites Largo 92 $12,900,000 $140,217
Nov-15 Courtyard St. Petersburg Saint Petersburg 128 $17,750,000 $138,672
Oct-15 Bay Harbor Hotel Tampa 257 $34,500,000 $134,241
Nov-15 Sheraton Riverwalk Tampa 277 $32,875,000 $118,682
Sep-15 Homewood Suites Bonita Springs 106 $11,500,000 $108,491
Oct-15 The Suites at Mainsail Village Tampa 360 $39,000,000 $108,333
Jun-16 Hampton Inn & Suites Sarasota 108 $11,215,200 $103,844
Dec-15 Doubletree Tampa 489 $40,000,000 $81,800
Apr-16 Sheraton Suites Tampa Airport Tampa 259 $19,950,000 $77,027
Page 14Tampa Bay Area Lodging Investment Overview
U.S. Hotel Pipeline
130
165
130
175
166169
100
120
140
160
180
2015 2016
Num
ber
of
Ho
tels
In Construction Planning Final Planning
As of May 2016.
Source: Smith Travel Research.
Page 15Tampa Bay Area Lodging Investment Overview
Hotels Now Under Construction in Tampa Bay Area
Hotel City Class Open Date
Hyatt Place Lakewood Ranch Bradenton Upscale Q1 2017
Wyndham Grand Resort Clearwater Upper Upscale Q3 2017
Hampton Inn & Suites Clearwater Upper Midscale Q3 2017
Springhill Suites/Residence Inn Clearwater Upscale Q2 2017
Bay Esplanade Hotel Clearwater Upper Midscale Q1 2017
Entrada Clearwater Beach Clearwater Upper Midscale Q4 2016
Fenway Hotel Dunedin Upper Upscale Q2 2017
Hotel Sarasota Sarasota Upper Upscale Q2 2017
Westin Sarasota Sarasota Upper Upscale Q4 2016
Embassy Suites Sarasota Sarasota Upper Upscale Q2 2017
Hampton Inn Busch Gardens Tampa Upper Midscale Q3 2016
Hampton Inn Tampa Airport Tampa Upper Midscale Q3 2016
Holiday Inn Express Wesley Chapel Upper Midscale Q4 2016
Source: Lodging Development Group.
Page 16Tampa Bay Area Lodging Investment Overview
New Supply in TPA / Westshore Area
N
Autograph at
Rocky Point South
Select service
hotel site
Possible Cambria
Hotel & Suites
Hampton at Avion
Relocation of
Airport Marriott
AC by Marrriott
at MetWest
Page 17Tampa Bay Area Lodging Investment Overview
New Supply in Downtown Tampa Area
500-room luxury
hotel
Select service hotel
Ybor City
boutique hotel
N
Full service hotel,
Brandon Towne Center
Hampton Inn
Busch Gardens
Full-Service Hotel
Busch Gardens
Page 18Tampa Bay Area Lodging Investment Overview
Our Cracked Crystal Ball
Page 19Tampa Bay Area Lodging Investment Overview
As We See It: The National Scene
■ As was the case in 2015, all of the annual “Cracked Crystal Ball” indicators that we follow are
trending positive:
• Commercial Rail (Forward Contracts)
• Luggage Sales
• Jet A Fuel Contracts
• Dry Cleaning & Laundry Institute
• Movie Theatre Ticket Sales
• Sleep in America Poll
■ Economists suggest that GDP will grow in 2017 and that the chances of a technical recession
remain very low.
■ Higher GDP growth in 2017 leads to higher ADR growth with improved flow-through to the
bottom line.
■ The U.S. lodging sector will continue to set records for profitability, but labor and insurance costs
are taking their toll.
■ As interest rates rise – and they will – there will be fewer dollars available for capital expenditures.
Page 20Tampa Bay Area Lodging Investment Overview
As We See It: The Local Scene
■ Hillsborough and Pinellas demand (occupancy) has picked pick up nicely in
the past year, although the rate of growth is slowing. We believe there will be
positive growth for at least two more years, ending when significant new
supply hits the market.
■ Group pace at individual properties is strong for the next two to three years.
City-wide group pace is strong, but is not growing as fast as is that of
individual area hotels.
■ Group will play a larger role in Pinellas in the coming years.
■ Average Daily Rate is finally growing at a faster pace due mainly to group
business at individual hotels. Hotels benefitting from enhanced flow-through.
■ We expect RevPAR for upper upscale hotels in the Tampa Bay Area to
increase over 6.0% in 2017 and 4.5% in 2018.
Page 21Tampa Bay Area Lodging Investment Overview
As We See It: The Local Scene
■ We will see several more investors from outside the region invest here, as the
lack of attractive opportunities in gateway markets leads them to shift their
focus to “A” properties in “B” markets.
■ Over the next two to three years, both Hillsborough and Pinellas counties will
experience growth in room inventory above national or Florida levels.
■ Look for downtown St. Petersburg to attract at least one other group-
oriented hotel in the next two years.
■ The effects of the Zika virus will be limited as efforts are underway to
address the issue head-on.
Page 22Tampa Bay Area Lodging Investment Overview
Question & Answer
For copies of this presentation,
please email your request to:
Corporate Headquarters: One North Dale Mabry Highway, Suite 1000, Tampa, Florida 33609
Telephone: 1-813-932-1234
www.tpghotels.com
© 2016 STR, Inc. All Rights Reserved. Any reprint, use or republication of all or a part of this presentation without the prior written approval of STR, Inc. or STR Global, Ltd. trading as STR (collectively “STR”) is strictly prohibited. Any such reproduction shall specifically credit STR as the source. This presentation is based on data collected by STR. No strategic advice or marketing recommendation is intended or implied.
HCHMA 17th Annual Trends & Forecasting Forum
Karrie Keen, CHIA
Senior Operations Analyst
© 2016 STR. All Rights Reserved.
• Total U.S. Review
• Comparative Markets
• Florida Markets
• Tampa/St. Petersburg
• Hillsborough and Pinellas Counties
• 2016 / 2017 Forecast
Agenda
© 2016 STR. All Rights Reserved.
Total U.S. Review
© 2016 STR. All Rights Reserved.
RevPAR Growth Continues to Slow
% Change
• Hotels 54 k
• Room Supply 1.8 bn 1.4%
• Room Demand 1.2 bn 2.0%
• Occupancy 65.5% 0.6%
• ADR $122.04 3.6%
• RevPAR $79.91 4.3%
• Room Revenue $146 bn 5.7%
Total US - Key Statistics Twelve Month Moving Average June 2016
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Demand Growth Slows while Supply Growth Ticks Up to 1.4%
1.4%
2.0%
-8
-6
-4
-2
0
2
4
6
8
10Supply % Change Demand % Change
Feb ’11 7.8% June ’89
5.3%
Sept ’09 -7.1%
Aug ’06 -0.2%
Jan ’89 4.6%
Mar ’02 -4.7%
Oct ’91 -0.9%
Total United States Room Supply/Demand Percent Change Twelve Month Moving Average – 1989 to June 2016
© 2016 STR. All Rights Reserved.
0.6%
3.6%
-12
-10
-8
-6
-4
-2
0
2
4
6
8
10Occ % Chg ADR % Chg
June ’91 -3.4%
Jan ’92 0.1%
Mar ’02 -6.7%
Aug ’02 -4.5%
Oct ’06 7.5%
Sept ’09 -9.7%
Jan ’10 -8.8%
Feb ’11 6.3%
ADR Growth Softening Occupancy Growth Decelerating
Total United States Occupancy/ADR Percent Change Twelve Month Moving Average – 1989 to June 2016
© 2016 STR. All Rights Reserved.
RevPAR Weakening Due to Moderate ADR Growth and Minimal Occupancy Growth
4.3%
-20
-16
-12
-8
-4
0
4
8
12
Oct ’09 -16.8%
June ’06 9.3%
June ’02 -10.2%
Jan ’01 6.6%
Oct ’91 -2.6%
June ’11 8.5%
Total United States RevPAR Percent Change Twelve Month Moving Average – 1989 to June 2016
© 2016 STR. All Rights Reserved.
0.8
3.8
3.0
4.9
8.0
1.4
2.0
0.6
3.6
4.3
0
1
2
3
4
5
6
7
8
9
Supply Demand Occupancy ADR RevPAR
2015 2016
Total United States Key Performance Indicators Percent Change Twelve Month Moving Average June 2016
Supply Growth Coupled with Slowing Demand and ADR Hinders Occupancy and RevPAR Growth
© 2016 STR. All Rights Reserved.
Weaker Transient ADR Growth -> Depressed 2016 ADR
2.6
2.1
0
1
2
3
4
5
6
7
Demand % Change ADR % Change
Transient Demand and ADR % Change Twelve Month Moving Average – 2012 to June 2016
© 2016 STR. All Rights Reserved.
Group Demand Growth Slows Rapidly
0.6
3.3
-2
-1
0
1
2
3
4
5
6
2012 2013 2014 2015 2016
Demand % Change
ADR % Change
Group Demand and ADR % Change Twelve Month Moving Average – 2012 to June 2016
© 2016 STR. All Rights Reserved.
Comparative Markets
© 2016 STR. All Rights Reserved.
Booming Supply in TX Tampa Only Market with Zero 12mo Supply Growth
0.5
2.9
0.0
1.4
0.6
2.6
7.1
3.9
1.7
3.8
1.9
3.1
2.1
3.2
5.3
6.6
-3.0
0.6
-4
-2
0
2
4
6
8
Phoenix, AZ FortLauderdale,
FL
Tampa/StPetersburg,
FL
Kansas City,MO-KS
Charlotte,NC-SC
Nashville,TN
Austin, TX Houston, TX SanAntonio, TX
Supply Demand
Supply / Demand Percent Change Twelve Month Moving Average June 2016
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Poor Houston! Supply / Demand Imbalance Nashville Reporting the Highest ADR Growth
3.2
-1.0
3.1
0.6
2.5 2.6
-0.5
-6.7
-1.0
0.6
4.4
5.9 6.0 5.3
7.3
4.4
-0.1
2.7
-8
-6
-4
-2
0
2
4
6
8
Phoenix, AZ FortLauderdale,
FL
Tampa/StPetersburg,
FL
Kansas City,MO-KS
Charlotte,NC-SC
Nashville,TN
Austin, TX Houston, TX SanAntonio, TX
Occ ADR
Occupancy / ADR Percent Change Twelve Month Moving Average June 2016
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Despite Falling Occupancy in Houston Still Mediocre Ft. Lauderdale Wins Out with the Highest ADR
66.8
77.7 71.5
64.8 71.8 74.5 73.3
65.8 64.8
$120.95
$138.71
$118.88
$98.04 $103.63
$130.80 $137.52
$107.98 $107.85
0
20
40
60
80
100
120
140
160
Phoenix, AZ FortLauderdale,
FL
Tampa/StPetersburg,
FL
Kansas City,MO-KS
Charlotte,NC-SC
Nashville,TN
Austin, TX Houston, TX SanAntonio, TX
Occ ADR
Absolute Occupancy / ADR Twelve Month Moving Average June 2016
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Rate Growth Drives RevPAR Growth in Most Markets
3.9 3.4
9.1
6.7
8.0
10.1
3.9
-6.8
1.7
-8
-6
-4
-2
0
2
4
6
8
10
12
Phoenix, AZ FortLauderdale,
FL
Tampa/StPetersburg,
FL
Kansas City,MO-KS
Charlotte,NC-SC
Nashville,TN
Austin, TX Houston, TX SanAntonio, TX
RevPAR Percent Change Twelve Month Moving Average June 2016
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Florida Markets
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Florida Keys Experiencing Strong Supply Growth Daytona Beach Leads Demand Growth
0.9 0.8
5.8
0.2
2.9
0.2 0.6
0.3
4.1
0.5 1.0
0.0
3.3
5.9
3.6
1.9
1.3
1.9
2.5
3.5
1.1
3.5
1.3
-0.7
3.1
1.6
-2
-1
0
1
2
3
4
5
6
7Supply Demand
Supply / Demand Percent Change Twelve Month Moving Average June 2016
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Occupancy Growth Mixed All Markets Except Miami Growing Rate
4.9
2.8
-3.6
1.2
-1.0
2.4 2.8
0.8
-0.6
0.8
-1.7
3.1
-1.7
5.7
2.9 2.7 2.9
4.4
3.0
5.8
7.7
0.1
4.8
3.2
5.9
1.9
-6
-4
-2
0
2
4
6
8
10Occ ADR
Occupancy / ADR Percent Change Twelve Month Moving Average June 2016
© 2016 STR. All Rights Reserved.
The Keys Report a Significant ADR Premium
60.6 62.8 76.4
60.3 77.7
70.0 69.4 64.6 77.5 75.9
68.6 71.5 72.5
$107.23 $120.83
$268.94
$112.19
$138.71 $147.53
$102.15 $101.29
$193.27
$114.71
$137.43 $118.88
$166.74
0
50
100
150
200
250
300 Occ ADR
Absolute Occupancy / ADR Twelve Month Moving Average June 2016
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Tampa/St. Petersburg
© 2016 STR. All Rights Reserved.
Healthy Growth in Tampa
% Change
• Hotels 450
• Room Supply 16.3 mn 0.0%
• Room Demand 11.6 mn 3.1%
• Occupancy 71.5% 3.1%
• ADR $118.88 5.9%
• RevPAR $84.97 9.1%
• Room Revenue $1.4 bn 9.1%
Tampa/St. Petersburg, FL - Key Statistics Twelve Month Moving Average June 2016
© 2016 STR. All Rights Reserved.
Supply / Demand Percent Change Twelve Month Moving Average June 2016
S: 2.0% D: 2.5%
S: -1.2% D: 5.5%
S: -4.1% D: 2.5%
S: 1.0% D: 3.4%
S: 0.0% D: 3.1%
S: 0.4% D: 2.8%
S: -1.2% D: 1.8%
Tarpon Springs/North Shore Limited Supply – Not as Bad as it Looks
North/Busch Gardens Reporting the Highest Demand
© 2016 STR. All Rights Reserved.
Occupancy / ADR Percent Change Twelve Month Moving Average June 2016
Occ: 3.1% ADR: 5.9%
Occ: 6.7% ADR: 7.0%
Occ: 6.9% ADR: 4.9%
Occ: 0.4% ADR: 3.7%
Occ: 2.4% ADR: 5.4%
Occ: 2.3% ADR: 6.7%
Occ: 3.1% ADR: 8.5%
Healthy ADR Growth Across the Market
© 2016 STR. All Rights Reserved.
Absolute Occupancy / ADR Twelve Month Moving Average June 2016
Occ: 71.5% ADR: $118.88
Occ: 65.7% ADR: $89.72
Occ: 62.5% ADR: $90.09
Occ: 74.4% ADR: $130.66
Occ: 69.9% ADR: $145.58
Occ: 75.9% ADR: $125.22
Occ: 73.2% ADR: $92.12
Rooms Full 3 Out of 5 Nights Highest Rates in St. Petersburg
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Polar Opposite – Why?
1.4
6.1
0
2
4
6
8
10
12
Demand % Change ADR % Change
Transient Demand and ADR % Change Twelve Month Moving Average – 2012 to June 2016
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While ADR Growth Follows a Similar Pattern Not As Volatile
1.8 2.8
-15
-10
-5
0
5
10
15
2012 2013 2014 2015 2016
Demand % Change ADR % Change
Group Demand and ADR % Change Twelve Month Moving Average – 2012 to June 2016
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Hillsborough and Pinellas Counties
© 2016 STR. All Rights Reserved.
Double Digit RevPAR Growth Driven by ADR Growth Supply Growth Not an Issue
% Change
• Hotels 169
• Room Supply 7.8 mn -0.5%
• Room Demand 5.7 m 2.8%
• Occupancy 73.5% 3.3%
• ADR $110.35 7.2%
• RevPAR $81.05 10.8%
• Room Revenue $633.5 mn 10.3%
Hillsborough County, FL - Key Statistics Twelve Month Moving Average June 2016
© 2016 STR. All Rights Reserved.
Higher Rates in Pinellas County Yet Less Supply and Absolute Occupancy
% Change
• Hotels 236
• Room Supply 7.0 mn 0.2%
• Room Demand 4.9 mn 2.3%
• Occupancy 70.7% 2.1%
• ADR $135.32 4.9%
• RevPAR $95.71 4.9%
• Room Revenue $665.7 mn 7.3%
Pinellas County, FL - Key Statistics Twelve Month Moving Average June 2016
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Similar Yet Different Supply Cycles
9.6%
6.5%
-0.5%
2.7%
-5.8%
0.2%
-8
-6
-4
-2
0
2
4
6
8
10
12
1989 1992 1995 1998 2001 2004 2007 2010 2013 2016
Hillsborough Pinellas
Hillsborough & Pinellas County, FL Room Supply Percent Change Twelve Month Moving Average – 1989 to June 2016
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Like Demand Patterns yet… Higher Demand in Hillsborough
2.8%
2.3%
-15
-10
-5
0
5
10
15
1989 1992 1995 1998 2001 2004 2007 2010 2013 2016
Hillsbourgh Pinellas
Hillsborough & Pinellas County, FL Room Demand Percent Change Twelve Month Moving Average – 1989 to June 2016
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3.3% 2.1%
-15
-10
-5
0
5
10
15Hillsborough Pinellas
Occupancy Follows along the Same Demand Trend
Hillsborough & Pinellas County, FL Occupancy Percent Change Twelve Month Moving Average – 1989 to June 2016
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7.2
4.9
-20
-15
-10
-5
0
5
10
15Hillsborough Pinellas
Very Comparable Rate Trend… Hillsborough Steeper Decline at Times
Hillsborough & Pinellas County, FL ADR Percent Change Twelve Month Moving Average – 1989 to June 2016
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Consecutive Months of Positive RevPAR Growth 30 Hillsborough / 66 Pinellas
10.7
7.1
-25
-20
-15
-10
-5
0
5
10
15
20
25 Hillsborough Pinellas
Hillsborough & Pinellas County, FL RevPAR Percent Change Twelve Month Moving Average – 1989 to June 2016
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2016 / 2017 Forecast
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Supply Growth Continues While Demand Growth Slows
Outlook
2016 Forecast
2017 Forecast
Supply 1.7% 1.9%
Demand 2.1% 1.9%
Occupancy 0.4% 0.0%
ADR 4.0% 3.8%
RevPAR 4.4% 3.8%
Total United States Key Performance Indicator Outlook (% Change vs. Prior Year) 2016 - 2017
© 2016 STR. All Rights Reserved.
Demand Growth Continues as ADR Growth Loses Speed
Outlook
2016 Forecast
2017 Forecast
Supply 1.3% 1.4%
Demand 1.3% 1.8%
Occupancy 0.0% 0.4%
ADR 5.3% 3.5%
RevPAR 5.3% 3.9%
Tampa-St Petersburg, FL Key Performance Indicator Outlook (% Change vs. Prior Year) 2016 - 2017
Thank You!
© 2016 STR, Inc. All Rights Reserved. Any reprint, use or republication of all or a part of this presentation without the prior written approval of STR, Inc. or STR Global, Ltd. trading as STR (collectively “STR”) is strictly prohibited. Any such reproduction shall specifically credit STR as the source. This presentation is based on data collected by STR. No strategic advice or marketing recommendation is intended or implied.
Karrie Keen