EconoLodge Ithaca, New York - Amazon S3...Note 2: 2014/Trailing 12 months includes payments for...

410.489.5900 WWW.MBAHOTELS.COM

Washington DC • New York • Boston Memphis • Birmingham • Cedar Rapids • MBA Capital Funding

EconoLodge Ithaca, New York

Contact Listing Broker: Michael Kinui 410.489.5900 x20 Office 914.703.2578 Cell [email protected]

Offered as a Package with Country Inn and Suites Ithaca. (See Separate Offering Memorandum.)

Confidential Investment Offering MBA Hotel Brokers Inc.

Information is believed accurate but is not guaranteed by MBA Hotel Brokers

WWW.MBAHOTELS.COM

Table of Contents

Opportunity Property Description Property Photographs Location Financial Analysis Competitive Set Demand Generators Area Information



WWW.MBAHOTELS.COM

72 Keys, 2 Story, Interior Corridor, Built in 1987.

New Roof and Over $400K in Improvements in 2014.

Located in Beautiful, Economically Strong College Town of Ithaca.

Top Performer in its Class! 2014 Total Revenue $1.344MM. NOI for 2014 was $497,210K.

No Outstanding Seller Punchlist. Seller Says Minimal PIP for Buyer, and Modest PIP to Convert to Quality Inn.

Leading Comp Set in Occupancy, ADR and RevPar.

Offered as a Package Deal with Profitable Country Inn and Suites, Just Seven Miles Away in Ithaca.

Buyer Can Assume Seller’s CMBS Loan at 5.8%.

Market Mix: 25% Leisure/Tourist, 37% Commercial, 15% Local Resi-dents, 10% Truckers, 8% Government, 5% Bus Tours.

Combined Offering: Unpriced

INVESTMENT HIGHLIGHTS

Opportunity



WWW.MBAHOTELS.COM

Location 2303 N. Triphammer Road Ithaca, NY 14850 Tompkins County PROPERTY DESCRIPTION

72 Keys, 2 Story, One Building, Interior Corridor

Built in 1987

Shingled Roof Less Than One Year Old

Exterior Siding

Renovated 2014

2.5 Acres

Manager Apartment

GUEST AMENITIES

Hotel Services and Amenities:

Free High Speed Wireless Internet

Fitness Room

Business Center

Guest Laundry

Vending/Ice Machines

Free Hot Breakfast

Asphalt Parking Lot—Busses & Trucks

Lobby Coffee

N/S and Handicap Available

Airport Shuttle

Meeting Room

Cold Weather Hookups

Services/Amenities in All Rooms:

Microwave and Mini-fridge

Cable TV

A/C

Hairdryer

Free Local Calls

Iron and Ironing Board

Desk

Some Rooms Have Whirlpool

Property Description

ROOM BREAKDOWN

33 Singles

39 Doubles

2 Suites

4 Handicap

No Rooms Are Out O f Service.



WWW.MBAHOTELS.COM

Property Photographs



WWW.MBAHOTELS.COM

The city of Ithaca is in upstate, central New York and is the county seat of Tomp-kins County. It sits on the southern shore near the end of Cayuga Lake. It is in the rural Finger Lakes Region, about 225 miles northwest of New York City. Ithaca lies at over a half hour’s drive from any interstate highway.

Location

ITHACA

The EconoLodge is located off Highway 13 near Cayuga Lake and just 5 minutes from Tompkins Regional Airport. The Country Inn and Suites is about seven miles south in Ithaca. The city of Ithaca is at the convergence of many regional two-lane state highways: Routes 13, 13A, 34, 79, 89, 96, 96B, and 366.

Cornell University and Ithaca College are in Ithaca, with a combined student population of over 27,000.

Ithaca was ranked #8 out of "10 Great Places to Live” by Kiplinger's Personal Finance Magazine, July 2013. It ranked 9th in a list of “Most Exciting College Towns” by MSN Real Estate, May 2014.

The Finger Lakes Region is a popular tourist attraction, being New York’s largest wine producing region. It draws thousands of visitors every year.

Econolodge - Ithaca, NY2303 N. Triphammer Rd., Ithaca, NY, 1485072 RoomsPresentation of Income and Expenses in Accordance with the Uniform System for Hotel Accounts(See accompanying notes below for important disclosures)

Available Room Nights 26,280 26,280 26,280 26,280 26,280Room Nights Sold 14,162 14,642 14,735 14,562 14,750Occupancy 53.89% 55.71% 56.07% 55.41% 56.13%A.D.R $89.83 $85.65 $90.67 $92.83 $95.00REVPAR $48.41 $47.72 $50.84 $51.44 $53.32

2012 2013 2014 T12 March 2015 ProformaDepartmental Revenue Amount % Tot. Rev. Amount % Tot. Rev. Amount % Tot. Rev. Amount % Tot. Rev. Amount % Tot. Rev. Rooms $1,272,200 97.4% $1,254,060 97.5% $1,335,984 $1 $1,351,852 $1 $1,401,250 99.4% Food $0 0.0% $0 0.0% $0 0.0% $0 0.0% $0 0.0% Beverage $0 0.0% $0 0.0% $0 0.0% $0 0.0% $0 0.0% Telephone $0 0.0% $0 0.0% $0 0.0% $0 0.0% $0 0.0% Other $33,497 2.6% $32,729 2.5% $7,799 0.6% $7,178 0.5% $8,000 0.6%Total Revenue $1,305,697 100.0% $1,286,788 100.0% $1,343,784 100.0% $1,359,030 100.0% $1,409,250 100.0%

Departmental Expenses Rooms (Note 1) $323,846 25.5% $321,232 25.6% $282,395 21.1% $282,747 20.9% $294,263 21.0%

Food $0 0.0% $0 0.0% $0 0.0% $0 0.0% $0 0.0% Beverage $0 0.0% $0 0.0% $0 0.0% $0 0.0% $0 0.0% Telephone $17,088 0.0% $17,256 0.0% $2,974 0.0% $2,199 0.0% $3,000 0.0% Other $0 0.0% $0 0.0% $0 0.0% $0 0.0% $0 0.0%Total Departmental Expenses $340,934 26.1% $338,488 26.3% $285,369 21.2% $284,946 21.0% $297,263 21.1%

GROSS OPERATING PROFIT $964,763 73.9% $948,300 73.7% $1,058,415 78.8% $1,074,084 79.0% $1,111,988 78.9%

General & Unappl. Expenses General & Administrative $137,459 10.5% $130,655 10.2% $137,964 10.3% $141,516 10.4% $140,925 10.0% Advertising & Promotion $35,009 2.7% $12,633 1.0% $8,449 0.6% $8,005 0.6% $14,093 1.0% Repairs & Maintenance $62,293 4.8% $51,706 4.0% $26,781 2.0% $22,056 1.6% $28,185 2.0% Utilities (Note 2) $52,130 4.0% $47,007 3.7% $83,205 6.2% $82,188 6.0% $62,000 4.4% Professional $13,675 1.0% $16,018 1.2% $13,666 1.0% $13,666 1.0% $12,000 0.9% Other $0 0.0% $0 0.0% $0 0.0% $0 0.0% $0 0.0%Total Gen. & Unapplied Exp. $300,567 23.0% $258,019 20.1% $270,066 20.1% $267,430 19.7% $257,203 18.3%

HOUSE PROFIT $664,197 50.9% $690,281 53.6% $788,349 58.7% $806,654 59.4% $854,785 60.7%

Other Operating Costs Management Fees (Note 3) $39,171 3.0% $38,604 3.0% $40,314 3.0% $40,771 3.0% $42,278 3.0% Equipment Rentals (Note 4) $0 0.0% $0 0.0% $0 0.0% $0 0.0% $0 0.0% Insurance (Note 5) $24,572 1.9% $14,514 1.1% $38,045 2.8% $38,045 2.8% $38,000 2.7% Property and Other Taxes (Note 6) $81,625 6.3% $106,510 8.3% $107,297 8.0% $107,297 7.9% $108,000 7.7% Franchise Assessment $106,526 8.2% $101,934 7.9% $105,482 7.8% $107,928 7.9% $112,740 8.0% Other $0 0.0% $0 0.0% $0 0.0% $0 0.0% $0 0.0%Total Other Operating Costs $251,893 19.3% $261,562 20.3% $291,139 21.7% $294,042 21.6% $301,018 21.4%

NET OPERATING INCOME $412,304 31.6% $428,719 33.3% $497,210 37.0% $512,612 37.7% $553,768 39.3%

F F & E Reserve/Expenses (Note 7) $57,753 4.4% $43,697 3.4% $53,439 4.0% $54,074 4.0% $56,050 4.0%

NET CASH FLOW $354,551 27.2% $385,022 29.9% $443,771 33.0% $458,538 33.7% $497,718 35.3%

Notes (These notes are integral to the data presented above)

Note 1: The expenses exclude payroll compensation to the owner, payroll tax expenses for the owner, telephone charges for the owner, automobile leasing expenses for the owner and personal travel expenses for the owner.

Note 2: 2014/Trailing 12 months includes payments for unbilled water/sewer charges from prior years. Proforma electricity is $50,000/yr and water/sewer is $12,000/yr

Note 3: The property is self-managed and no management agreement is in place and no management fees are paid. Howeever a market management fee has been presented as an expense even though not actaully incurred.

Note 4: The property will be delivered free and clear of equipment leases; therefore leasing expenses have not been included.

Note 5: Property inurance for 2014 and Trailing 12 months are based on a pro-rata share of the total insurance payments paid into the insurance escrow managed by the loan servicer.

Note 6: Property Real Estate Taxes for 2014 and Trailing 12 months presented based on the relative property assessments applied to the total real estate tax payments paid into the real estate escrow managed by the loan servicer.

Note 7: For 2012 and 2013, actual capex and one-time expenses are presented; for 2014 and Trailing 12 months, 4% of gross revenue (consistent with the 4% collection rate required under the terms of the loan docs) is presented.

Lynda

Typewritten Text

Lynda

Typewritten Text

ECONOLODGE ITHACA, NY

Lynda

Typewritten Text

Lynda

Typewritten Text

Lynda

Rectangle



WWW.MBAHOTELS.COM

Hotel Name: Days Inn Cortland / McGraw Address: 3775 US Rt. 1, Cortland / McGraw NY 13101

Rooms and Floors: 72 rooms, 2 story, interior

Built in: January,1988

Meeting Space: no

Amenities:

RV/bus/truck parking, free calls and paper, cable TV, fridge and microwave, coffeemaker, workout room, N/S and handicap available, pets, free WiFi, free breakfast

Distance from property: 23 miles

Competitive Set

Hotel Name: Econolodge Cortland

Address: 10 Church St., Cortland, NY 13045

Rooms and Floors: 42 rooms, 2 story, exterior Built in: June 1964

Meeting Space: no

Amenities:

Free high speed internet, satellite TV, free local calls, pets, fridge and microwave, coffeemaker, iron/board, desk, truck and bus parking, breakfast, copier and fax

Distance from Property: 21 miles

Hotel Name: Rodeway Inn and Suites Ithaca

Address: 654 Elmira Rd., Ithaca NY 14850

Rooms and Floors: 42 rooms, 1 story, exterior

Built in: June 1964

Meeting Space: no

Amenities:

Free WiFi, satellite TV, free local calls, bus/truck/RV parking, BBQ grill and picnic table, free local calls, desk, coffeemaker, refrigerator and microwave, pets, continental breakfast

Distance from Property: 5 miles



WWW.MBAHOTELS.COM

Hotel Name: Super 8 Ithaca Address: 400 South Meadow, Cecil A Malone Dr at

Rte 13, Ithaca, NY 14850

Rooms and Floors: 63 rooms, 2 story, interior

Built in: Oct., 1985

Meeting Space: no

Amenities:

Free WiFi, computer access, continental break-fast, truck/bus parking, free calls, cable TV, week-day paper, coffeemaker, 100% non-smoking

Distance from property: 3.75 miles

Competitive Set

Hotel Name: Motel 6 Horseheads

Address: 4133 Rte. 17, Horseheads, NY 14845

Rooms and Floors: 80 rooms, 2 story, exterior

Built in: May 1988

Meeting Space: no

Amenities:

WiFi surcharge, cable TV, free local calls, out-door parking, free local calls and daily paper, lobby coffee

Distance from property: 31 miles



WWW.MBAHOTELS.COM

Demand Generators

Cornell University is a private Ivy League and federal land-grant research univer-

sity located in Ithaca, New York. It is consistently ranked among the best universities in the world, having been ranked 13th in the world by ARWU for 2014, and 19th in the world by QS World University Rankings for 2014. In 2015, the university accepted 14.9% of undergraduate applicants, making Cornell one of the most selective universities

in the country. The sprawling campus has 260 buildings on a lush, 745-acre landscaped hilltop.

Founded in 1865, the university is broadly organized into seven undergraduate colleges and seven graduate divisions at its main Ithaca campus. The student body consists of nearly 14,000 under-graduate and 7,000 graduate students from all 50 American states and 122 countries. It employs a faculty of 2,600. This institution has 36 varsity intercollegiate teams that have the nickname of the Big Red. Cornell University holds a multitude of activities and special events year-round, drawing thousands of visitors to the area.

Ithaca College, on South Hill, is New York's largest comprehensive, residential

college. It is co-educational, non-sectarian private school. Home to 6,400 students and 600 faculty, Ithaca College was born more than 100 years ago as a music conser-vatory, and its tradition of great performance continues today. The spirit of hands-on performance infuses every aspect of college life, from Ithaca's renowned arts and sci-ences programs such as Art History and Biochemistry, to its award-winning Park

School of Communications. The college has a strong liberal arts core, but also offers several pre-professional programs and some graduate programs. Some 2,000 courses in more than 100 programs of study are available in the college's five schools. The college employs a staff of over 1,800 employees. Ithaca College has been ranked among the top ten master's universities in the North by U.S. News & World Report every year since 1996. Ithaca College is also consistently named among the best colleges in the nation by Princeton Review.

The school’s many athletic teams are nicknamed the Bombers. The Bombers have won a total of 15 national titles in seven team sports and five individual sports. Like Cornell University, Ithaca College also hosts a variety of activities and special events throughout the year, bringing numerous visi-tors to the town.

Ithaca College and Cornell University are remarkable destinations on their own. Both have a beauti-ful campus and offer a wealth of cultural treasures and opportunities (many free) - rich with performing arts, live theater, music recitals, art galleries, museums, and workshops. These two institutions, along with Tompkins Cortland Community College, create Ithaca’s “college town” focus and atmos-phere, and are a major influence on Ithaca’s seasonal population, nearly doubling the year-round population of 30,000.



WWW.MBAHOTELS.COM

Tompkins Cortland Community College was established in 1968.

It is a public two-year college supported by Cortland and Tompkins Counties. The main college campus is located in the nearby Town of Dryden, 15 miles from Ithaca. Extension sites are located in Cortland, New York and Ithaca Commons. “TC3” has 3,800 full-time students, and a staff of 280. The col-lege offers more than 50 degree and certificate programs, and sponsors ten

intercollegiate athletic teams known as the Panthers.

Gorges, Waterfalls and State Parks - From hiking and biking, to boating and fishing, to agriculture there is something for everyone. There are 20 state parks in the Finger Lakes Region and 150 waterfalls within 10 miles of downtown Ithaca. Each waterfall has its own gorge. The most popular waterfalls, parks and gorges are:

Ithaca Falls / Fall Creek Gorge: Impressive gorge views from the Cornell campus leading to a 150-foot waterfall near downtown. Taughannock Falls State Park: At 215 feet, this is the tallest waterfall in the northeast. The car-friendly overlook is convenient but the best views are seen along the Rim Trail and Gorge Trail, both easy hikes. Buttermilk Falls State Park: A lush, sinuous gorge trail leads from the upper park down to the swim area at the base of the 90-foot falls. Enfield Glen / Lucifer Falls / Robert Treman State Park: Perhaps the most beautiful of Ithaca's gorges. The hiking is somewhat strenuous but well worth the effort.

Downtown Ithaca Commons - This is an award-winning, four

block, open-air, pedestrian mall opened in Downtown Ithaca in 1974. The mall retains its character as the center of the community's dining, shopping and entertainment scene, and hosts special events and festivals year-round. The 100+ unique boutiques, casual and fine dining, and out-

door public art exhibits help keep the Ithaca Commons from being anything but common.

The Discovery Trail is a collaboration of eight brainy family attractions in the Ithaca area. The Discovery Trail offers innovative, inspiring, and influ-ential activities and entertainment, both indoors and outside. Sciencenter The hands-on science museum for all ages with more than 250 touchable exhibits.

Museum of the Earth Explore 4 billion years of life on earth at Ithaca's Museum of the Earth, home to interactive exhibits and one of America's largest fossil collections.

Demand Generators



WWW.MBAHOTELS.COM

The Discovery Trail (continued)

Cayuga Nature Center An outdoor and indoor playground to discover the animals and plant life of the Finger Lakes region. Explore 120 acres of fields, ponds and gorges, meet 40 live animals, then climb high into the forest canopy in a six-story tree house. Cornell Johnson Museum of Art A premier college art gallery holding more than 30,000 works in an iconic I.M. Pei-designed building. Cornell Lab of Ornithology Visitors can take an inside look at the global environment by following the life and travels of birds. The Macaulay Sound Libraryis the world's largest natural sound archive. The History Center in Tompkins County A treasure trove of regional history with travel-ing exhibits, a research library and a vast photo collection with more than 100,000 images. Cornell Plantations More than 4,300 acres of landscaped gardens and natural beauty. Visit 14 specialty gardens, a 150-acre arboretum, and a vast collection of protected natural areas. Tompkins County Public Library Exciting public programs, the latest digital resources, museum-quality art exhibits, internet stations, WiFi access, tools for developing early literacy skills and much more are free and accessible to community members and visitors of every age.

The Finger Lakes - The Finger Lakes are a group of eleven long, narrow, basically north-south lakes in the west-central sec-tion of Upstate New York. The lakes' shapes reminded early map-makers of human fingers, and the name stuck. They are a very popular tourist attraction. Beautiful scenery, high quality wines, outdoor activities and more draw thousands of visitors each year. The Finger Lakes area is New York's largest wine

producing region. Over 100 wineries and vineyards are located around the lakes. Besides the wineries and wine trails, the area boasts a number of breweries and hard-cider producers. The Finger Lakes region is home to several museums. These include the Corning Museum of Glass, the Strong National Museum of Play, Glenn H. Curtiss Aviation Museum, Finger Lakes Boating Museum, Wings of Eagles Discovery Center, National Soaring Museum the Rockwell Museum, the William H. Seward House Museum, the Samuel Warren Homestead of the York Historical Society, and several other museums that are part of the Discovery Trail.

Carved by glaciers, Cayuga Lake is the longest and second deepest of the Finger Lakes, at 38.2 miles long and 435 feet deep at its deepest point. It is among the deepest lakes in North Amer-ica. Designated a New York State Scenic Byway, the views from Ithaca's Stewart Park and the Cayuga Waterfront Trail are spectacular. Boat tours, lake cruises, kayaking, sunbathing and swimming are popular activities at Cayuga Lake.

Demand Generators



WWW.MBAHOTELS.COM

Area Information The city of Ithaca is in central New York and is the county seat of Tomp-kins County. It is also the largest community in the Ithaca-Tompkins County metropolitan area, and sits on the southern shore of Cayuga Lake.

Incorporated in 1888, Ithaca covers 5.46 square miles.

Ithaca is a small and ethnically diverse town blessed with a beautiful gla-cier-carved natural setting. A progressive educational center that is home to

three colleges, it enjoys a rich heritage and a thriving and sophisticated cultural life. Ithaca is a popu-lar tourist destination in the summer and is home to New York State's first pedestrian mall.

Ranked by multiple publications as being one of America's smartest cities, most secure places to live, healthiest cities, best green places to live, best / affordable place to retire, number-one emerging city, Ithaca offers something for everyone.

The year-round residential population of Ithaca was 30,515 in 2013. Estimated median household in-come in 2012 was $28,878. Estimated per capita income in 2012 was $17,838. As of the 2010 cen-sus, the population of Tompkins County was 101,000.

Ithaca experiences a moderate continental climate. Winters are long, cold, and snowy. Summers are warm and humid, with usually comfortable temperatures.

With more restaurants per capita than New York City and a number of area wineries along the Cayuga Wine Trail, Ithaca has something to please any palette. College-town economics, educated palates, abundant local ingredients and creative chefs combine to make Ithaca a great eating town. It offers casual dining, fine dining, Food Truck Round-Ups, farmers markets, Farm-to-Table events, a chocolate factory, Wegmans, and more! Ithaca is also the birthplace of the ice cream sundae, created by a local fountain owner in April, 1892.

Famous for its bestselling vegetarian cookbooks and its delicious commitment to local organic foods, the Moosewood Restaurant has been an Ithaca dining icon since 1973. Bon Appetit magazine ranked this restaurant among the thirteen most influential restaurants of the 20th century.

Shopping - The Shops at Ithaca Mall is Ithaca’s largest indoor shopping mall with over 70 stores. It is home to Best Buy, Target, The Bon Ton, Sears, Bath & Body Works and other big chains, dozens of specialty shops, and lots of eateries. There’s also a 14 screen cinema complex. A few more miles from Ithaca proper, still in the Finger Lakes region, Waterloo Premium Outlets offer discounts on over 100 of the leading brand names. Destiny USA in Syracuse offers entertainment options as well as world-class shopping. The Eastview Mall in Victor offers upscale fashions.



WWW.MBAHOTELS.COM

Area Information

The Ithaca Farmer’s Market at Steamboat Landing is the larg-est in the region, with over 150 vendors living within 30 miles of Ithaca. Agricultural vendors grow and offer high quality fruits, vegetables, meats, eggs, poultry and dairy products. Food

vendors bring a wide variety of freshly baked goods, jellies, honey, and sauces as well as deli-cious meals to eat at the market. As well, many talented artists and craftspeople sell excep-tional, locally made items.

Live music, engaging plays, and art gallery shows are nightly events in Ithaca. Both the variety and quality of the arts in Ithaca underscore the distinct pleasure of life in a major college town. In the summer, the city sponsors free concerts and acclaimed performing arts events at its numerous theaters, such as The Hangar Theatre, The Kitchen Theatre, The State Theatre, and college campus theatres.

The economy of Ithaca is based on education and manufacturing with high tech and tour-ism in strong supporting roles. Borg Warner Automotive, Ithaca Peripherals, and Ithaca Space Systems have made major investments in technology and facilities in recent years. Local business growth is assisted by Cornell University's Center for Manufacturing Enterprise and the National Nanofabrication Facility, also at Cornell. Agriculture represents a $90 million ex-port industry that also makes a significant contribution to the local economy. Agriculture research, plant science, and other research facilities attract start-up companies to the area.

Outside of Cornell and Ithaca College, the largest employers are the Ithaca City School District, Borg-Warner Automotive (a manufacturer of automotive engine and transmission components), and the regional hospital, Cayuga Medical Center. Borg-Warner has about 1,200 employees locally and the number in its Lansing facility has remained steady over the past few years. Ca-yuga Medical Center has added jobs in recent years, and launched an expansion and renovation last year. Ithaca economy has remained strong over the last several years, even through the recent recession when most other New York areas were negatively impacted.

Tompkins Regional Airport - Ithaca is served by Ithaca Tompkins Regional Airport, located about three miles to the northeast of the city center. The airport is owned and operated by Tompkins County and is the only public use airport with a paved runway in the county. Ac-cording to Federal Aviation Administration records, the airport had 103,501 enplanements in 2013. The Econolodge Ithaca is just 1.6 miles from this airport. The Country Inn and Suites Ithaca is 8 miles away. Both of these hotels offer free airport shuttles.



WWW.MBAHOTELS.COM

DISCLAIMER The confidential information, analyses, and projections contained herein are provided solely for the information of prospective purchasers and no warranty or representation as to accuracy or completeness is made by the Seller or MBA Hotel Brokers, their subsidiaries or affiliates, and no legal liability is assumed or implied with respect thereto. The property is being sold “as is” without any warranties whatsoever, expressed or implied. Prospective purchasers must, therefore, rely exclusively on their own investiga-tions, interpretations and analyses in connection with this offering and not on any information provided by Seller or MBA Hotel Brokers. This sale offering is made subject to errors, omissions, prior sale, change of price or terms, or withdrawal from the market without notice. Information is for guidance only and does not constitute all or any part of a contract. The materials contained herein are confidential, furnished solely for the purpose of considering the purchase of the property described herein and is not to be used for any other purpose or made available to any other person without the prior written consent of the owner. This confidential memorandum is the property of MBA Hotel Brokers, and is intended to be used only by such parties to whom Broker has delivered the memorandum or to whom Broker has approved such delivery. If you do not wish to pursue negotiations leading to this acquisition, or if in the future you discontinue such negotiations, you agree to return this confidential memorandum to MBA Hotel Brokers. The firm MBA Hotel Brokers is marketing the property. All Purchasers recognize that the Broker represents the Seller in this transaction. The fact that the Broker provides guidance to the Buyer / prospective purchaser and /or makes recommendations regarding financing does not create an agency relationship between Purchaser and Broker. The Seller is responsible for paying all brokerage fees associated with the sale of the aforementioned property. The Seller and Broker specifically make no representation whatsoever about any environmental conditions on the property, including but not limited to issues such as asbestos, hazardous waste, petroleum leaks or spills. Without limiting the generality of the foregoing, any environmental reports, any structural reports, or any other type or kind or report prepared by a third party, if any, included in the confidential memorandum have not been prepared by Seller and neither Seller nor MBA Hotel Brokers makes any representations as to the truth, accuracy, or completeness of same and neither prospec-tive purchaser, nor its representatives nor any other person shall be entitled to rely on such reports or any information contained therein. Without limiting the foregoing, information contained in this confidential memorandum may vary from the date of publishing. In some instances, more complete or up to date information may have become available following the creation of this memorandum.

United Kingdom United StatesBlue Fin Building 735 East Main Street

110 Southwark Street HendersonvilleLondon SE1 0TA TN 37075

Phone: +44 (0)20 7922 1930 Phone: +1 (615) 824 8664Fax: +44 (0)20 7922 1931 Fax: +1 (615) 824 3848

www.strglobal.com www.str.com

Econo Lodge Ithaca Monthly STAR Report

STR #: 22103 Date Created: June 18, 2015

TabTable of Contents 1

Monthly Performance at a Glance 2

STAR Summary 3

Competitive Set Report 4

Response Report 5

Day of Week & Weekday/Weekend 6

Daily Data for the Month 7

Help 8

For the Month of: May 2015

Tab 2 - Monthly Performance at a Glance - My Property vs. Competitive Set

My Prop Comp Set Index (MPI) My Prop Comp Set Index (ARI) My Prop Comp Set Index (RGI)

Current Month 60.9 50.2 121.4 108.30 94.09 115.1 65.99 47.24 139.7

Year To Date 50.2 37.9 132.5 86.64 72.72 119.1 43.48 27.56 157.8

Running 3 Month 55.7 44.7 124.5 91.60 76.92 119.1 51.04 34.41 148.3

Running 12 Month 55.5 43.7 126.9 92.24 75.90 121.5 51.20 33.19 154.3

My Prop Comp Set Index (MPI) My Prop Comp Set Index (ARI) My Prop Comp Set Index (RGI)

Current Month 1.9 1.8 0.1 -10.8 3.4 -13.7 -9.1 5.2 -13.6

Year To Date -2.6 3.2 -5.6 4.8 -1.2 6.1 2.1 1.9 0.1

Running 3 Month -4.2 6.3 -9.8 -1.1 -1.8 0.7 -5.2 4.4 -9.2

Running 12 Month -3.8 0.8 -4.5 9.7 0.3 9.3 5.5 1.2 4.3

STR, Inc.

Occupancy (%) ADR RevPAR

Econo Lodge Ithaca 2303 N Triphammer Rd Ithaca, NY 14850-1011 Phone: (607) 257-1400

STR # 22103 ChainID: NY127 MgtCo: None Owner: None

For the Month of: May 2015 Date Created: June 18, 2015 Monthly Competitive Set Data Excludes Subject Property

ADR RevPAROccupancy

May 2015

May 2015 vs. 2014 Percent Change (%)

Tab 3 - STAR Summary - My Property vs. Comp Set and Industry Segments

60.9 1.9 50.2 -2.6 55.7 -4.2 55.5 -3.8 0.0 0.0 0.0 0.3

57.1 1.4 47.2 1.2 51.5 1.0 55.2 2.4 0.5 0.2 0.4 -0.2

53.6 2.3 42.2 0.4 46.7 0.2 50.5 1.6 -0.5 -0.5 -0.6 -0.8

57.5 -1.6 44.6 -3.4 49.8 -3.3 54.2 0.6 0.0 1.2 0.7 0.8

47.4 -3.9 34.6 -4.7 39.0 -5.7 44.4 1.1 0.0 0.0 0.0 -4.1

50.2 1.8 37.9 3.2 44.7 6.3 43.7 0.8 0.0 0.0 0.0 0.0

108.30 -10.8 86.64 4.8 91.60 -1.1 92.24 9.7 1.9 -2.6 -4.2 -3.5

112.30 3.3 102.11 3.1 103.10 3.1 111.20 1.9 1.9 1.4 1.4 2.2

77.94 3.9 68.45 3.4 70.44 3.7 74.28 3.2 1.8 -0.2 -0.4 0.8

132.25 3.2 114.44 2.9 120.01 3.2 118.95 3.7 -1.6 -2.3 -2.6 1.5

75.57 0.2 64.56 0.8 67.24 0.1 70.49 1.7 -3.9 -4.7 -5.7 -3.1

94.09 3.4 72.72 -1.2 76.92 -1.8 75.90 0.3 1.8 3.2 6.3 0.8

65.99 -9.1 43.48 2.1 51.04 -5.2 51.20 5.5 -9.1 2.1 -5.2 5.8

64.08 4.7 48.15 4.3 53.05 4.2 61.38 4.4 5.2 4.5 4.6 4.2

41.81 6.4 28.86 3.8 32.90 3.9 37.54 4.8 5.8 3.2 3.2 4.0

76.10 1.6 51.00 -0.7 59.78 -0.2 64.45 4.3 1.6 0.5 0.5 5.2

35.79 -3.6 22.33 -3.9 26.24 -5.6 31.33 2.8 -3.6 -3.9 -5.6 -1.4

47.24 5.2 27.56 1.9 34.41 4.4 33.19 1.2 5.2 1.9 4.4 1.2

Rooms Rooms

43384 24270 Properties

14103 6146 7

5277 3864

1037 977

292 292

STR, Inc.




Tract Scale: Economy Chains

Tract: Ithaca/Elmira, NY

Market Class: Economy Class

Market: New York State

YTD % ChgRun 12 Mon

% ChgRun 3 Mon %

Chg




Competitive Set: Competitors





Econo Lodge Ithaca








Market Class: Economy Class 385941709

Rooms Properties Rooms


Revenue

Pipeline

Month % Chg

YTD % ChgRun 3 Mon %

ChgRun 12 Mon

% Chg

Supply

Demand

Month % Chg

Month % Chg

YTD % ChgRun 3 Mon %

ChgRun 12 Mon

% ChgCurrent Month

% ChgCurrent Month

% Chg

% Chg

Average Daily Rate

Running 3 Month

% ChgRunning 12

Month

100.0

94.2

Sample %

5

749

84

16

Properties

Sample

341

See Help page for pipeline definitions.

Under ConstructionProperties

5

15

Planning

43.6

Rooms

44

90

Econo Lodge Ithaca

Occupancy (%)

Econo Lodge Ithaca

Year to Date % Chg

% Chg Year to Date

267

73.2

55.9

Running 3 Month

% ChgRunning 12

Month% Chg

Census/Sample - Properties & Rooms

% Chg

Census

% ChgRunning 12

Month

RevPAR

Current Month

% Chg Year to Date % ChgRunning 3

Month

Tab 4 - Competitive Set Report

Dec Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May 2013 2014 2015 2013 2014 2015 2013 2014 2015

My Property 39.0 31.9 51.7 50.6 64.2 59.8 64.4 63.8 71.1 51.0 70.9 52.7 40.5 38.6 44.8 38.2 68.4 60.9 46.9 51.6 50.2 51.5 58.1 55.7 52.4 57.7 55.5

Competitive Set 25.2 25.1 32.0 35.9 41.0 49.3 50.5 62.6 66.7 44.6 48.3 37.6 24.2 23.4 31.4 36.6 47.5 50.2 39.7 36.7 37.9 44.1 42.1 44.7 46.5 43.4 43.7

Index (MPI) 154.7 126.8 161.8 141.0 156.6 121.2 127.7 101.9 106.5 114.2 146.9 140.1 167.5 164.8 142.8 104.5 144.0 121.4 118.0 140.4 132.5 116.8 138.2 124.5 112.8 133.0 126.9

Rank 1 of 6 2 of 6 1 of 6 2 of 6 2 of 6 3 of 6 3 of 6 3 of 6 3 of 6 2 of 6 2 of 6 2 of 6 1 of 6 2 of 6 2 of 6 2 of 6 2 of 6 2 of 6 2 of 6 2 of 6 2 of 6 2 of 6 2 of 6 2 of 6 2 of 6 2 of 6 2 of 6

% Chg

My Property 47.9 -7.1 13.6 11.0 24.2 4.5 3.0 -17.7 -12.2 -9.4 10.3 0.4 3.7 21.2 -13.3 -24.5 6.6 1.9 -6.8 10.0 -2.6 -9.5 12.9 -4.2 -10.0 10.1 -3.8

Competitive Set -13.8 -10.4 -16.1 -6.7 -10.0 2.0 0.0 21.9 -2.2 -9.8 -7.0 -4.5 -4.2 -6.7 -1.8 1.9 16.0 1.8 -8.5 -7.5 3.2 -9.7 -4.6 6.3 -12.5 -6.6 0.8

Index (MPI) 71.5 3.7 35.5 18.9 38.0 2.4 3.0 -32.5 -10.2 0.5 18.6 5.1 8.3 30.0 -11.7 -25.9 -8.1 0.1 1.9 18.9 -5.6 0.3 18.3 -9.8 2.8 17.9 -4.5



My Property 60.00 59.75 61.36 72.50 81.40 121.35 92.87 98.48 113.25 88.33 103.22 87.95 69.21 72.50 79.85 81.59 82.01 108.30 87.60 82.64 86.64 97.70 92.64 91.60 92.30 84.12 92.24

Competitive Set 62.41 62.17 63.14 67.09 72.78 91.00 77.84 76.71 84.85 74.86 82.58 74.07 60.57 62.25 61.75 63.45 68.87 94.09 70.76 73.62 72.72 76.21 78.34 76.92 74.60 75.65 75.90

Index (ARI) 96.1 96.1 97.2 108.1 111.9 133.3 119.3 128.4 133.5 118.0 125.0 118.7 114.3 116.5 129.3 128.6 119.1 115.1 123.8 112.3 119.1 128.2 118.2 119.1 123.7 111.2 121.5


% Chg

My Property -19.0 -9.0 -10.2 0.1 -10.6 -1.8 10.0 21.1 19.1 7.0 7.7 5.8 15.4 21.3 30.1 12.5 0.7 -10.8 11.1 -5.7 4.8 14.0 -5.2 -1.1 10.5 -8.9 9.7

Competitive Set 7.4 9.8 2.5 2.7 3.0 1.2 4.9 -2.0 2.4 1.6 4.8 -4.4 -3.0 0.1 -2.2 -5.4 -5.4 3.4 3.6 4.0 -1.2 5.7 2.8 -1.8 3.1 1.4 0.3

Index (ARI) -24.6 -17.2 -12.5 -2.5 -13.2 -3.0 4.8 23.7 16.3 5.3 2.7 10.8 18.9 21.2 33.1 19.0 6.5 -13.7 7.3 -9.3 6.1 7.9 -7.8 0.7 7.2 -10.1 9.3



My Property 23.41 19.03 31.74 36.71 52.23 72.58 59.85 62.87 80.52 45.03 73.21 46.38 28.00 28.00 35.80 31.18 56.12 65.99 41.05 42.61 43.48 50.32 53.86 51.04 48.35 48.51 51.20

Competitive Set 15.75 15.62 20.20 24.09 29.82 44.90 39.29 48.04 56.63 33.42 39.86 27.88 14.63 14.59 19.39 23.21 32.73 47.24 28.10 27.04 27.56 33.62 32.97 34.41 34.65 32.81 33.19

Index (RGI) 148.7 121.9 157.2 152.4 175.2 161.7 152.3 130.9 142.2 134.7 183.7 166.4 191.4 192.0 184.7 134.3 171.5 139.7 146.1 157.6 157.8 149.7 163.4 148.3 139.5 147.9 154.3


% Chg

My Property 19.8 -15.4 2.0 11.2 11.0 2.6 13.2 -0.4 4.6 -3.1 18.8 6.2 19.6 47.1 12.8 -15.1 7.4 -9.1 3.6 3.8 2.1 3.2 7.0 -5.2 -0.6 0.3 5.5

Competitive Set -7.4 -1.6 -14.0 -4.2 -7.3 3.2 4.9 19.4 0.1 -8.4 -2.5 -8.8 -7.1 -6.6 -4.0 -3.7 9.8 5.2 -5.3 -3.8 1.9 -4.6 -1.9 4.4 -9.8 -5.3 1.2

Index (RGI) 29.4 -14.1 18.6 16.0 19.7 -0.6 8.0 -16.5 4.5 5.8 21.8 16.5 28.7 57.5 17.5 -11.8 -2.1 -13.6 9.3 7.8 0.1 8.2 9.1 -9.2 10.2 6.0 4.3


Exchange Rate STR, Inc.



Occupancy (%)Running 3 MonthYear To Date Running 12 Month2013

Running 12 Month

Running 12 Month

RevPAR

Running 3 Month

Running 3 Month

Year To DateADR

Year To Date


2013

2013

2014

2014

2014

2015

2015

2015

91

111

131

151

171

191

Dec Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May

Monthly Indexes

-10

-5

0

5

10

Year to Date Running 3 Month Running 12 Month

RevPAR Percent Change

My Property Competitive Set

Tab 5 - Response Report

This Year

May 10th - Mother's Day

May 25th - Memorial Day

Last Year

May 11th - Mother's Day

May 26th - Memorial Day

STR# Name City, State Zip Phone Jun

Jul

Aug

Sep

Oct

Nov

Dec

Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec

Jan

Feb

Mar

Apr

May

22103 Econo Lodge Ithaca Ithaca, NY 14850-1011 (607) 257-1400 ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ●8350 Days Inn McGraw Cortland McGraw, NY 13101-9448 (607) 753-7594 ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ●15096 Econo Lodge Cortland Cortland, NY 13045-2710 (607) 756-2856 ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ●20464 Rodeway Inn & Suites Ithaca Ithaca, NY 14850-8745 (607) 272-5252 ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ●23449 Super 8 Ithaca Ithaca, NY 14850-5218 (607) 273-8088 ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ●28224 Motel 6 Elmira Horseheads Horseheads, NY 14845-3401 (607) 739-2525 ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ●

Data received:

○ = Monthly Only

● = Monthly & Daily

STR, Inc.

196006

16

22 23

35

198805

364

63 198510

80

Open Date

1 2 3

12 13

27

May 2014 (Last Year)Sun Mon Tue Wed Thu Fri Sat

11

5

17

25

4 7 8 9 10

15

28 31

242118 19

6 7 8 6

19 20

9

Sun ThuWedTue

54

Fri

3

20

131210 11 15

24

31

May 2015 (This Year)

21

SatMon

2726 28

22

42

198801

72 198709

2013

17 23

16

21

14

25

30

26

29 30

Rooms

196406

14

18

29

For the Month of: May 2015 Date Created: June 18, 2015

2014 20152013 2014

72

20132013 2014 2015



2014 2015

364

20152013 2014 20152013 2014 2015

Tab 6 - Day of Week and Weekday/Weekend ReportEcono Lodge Ithaca 2303 N Triphammer Rd Ithaca, NY 14850-1011 Phone: (607) 257-1400



Day of Week Time Period % Chg % Chg % Chg % Chg % Chg % Chg % Chg % Chg % Chg

Sunday Current Month 47.6 23.6 38.6 -9.7 123.4 36.9 125.07 1.6 85.60 -21.7 146.1 29.9 59.56 25.6 33.05 -29.3 180.2 77.7

Year To Date 38.0 11.3 28.8 1.8 131.9 9.4 85.16 14.6 68.62 -10.2 124.1 27.6 32.34 27.5 19.76 -8.6 163.7 39.5

Running 3 Month 42.0 12.1 33.8 2.5 124.3 9.4 91.57 9.2 72.11 -12.5 127.0 24.8 38.44 22.5 24.36 -10.3 157.8 36.6

Running 12 Month 40.5 -0.9 33.4 2.8 121.1 -3.6 83.56 12.2 69.57 -4.5 120.1 17.5 33.85 11.2 23.27 -1.8 145.5 13.3

Monday Current Month 62.0 10.1 36.8 8.0 168.3 1.9 93.86 -12.1 71.51 3.2 131.3 -14.9 58.18 -3.3 26.34 11.4 220.9 -13.2

Year To Date 49.1 1.1 30.7 2.7 159.9 -1.6 77.09 7.9 61.89 -1.1 124.6 9.1 37.86 9.1 19.01 1.6 199.1 7.3

Running 3 Month 50.7 -5.4 36.2 10.7 140.0 -14.6 79.81 2.1 63.78 -1.6 125.1 3.8 40.50 -3.4 23.12 9.0 175.2 -11.3

Running 12 Month 53.0 -2.3 37.0 -0.3 143.5 -2.0 76.42 10.3 64.78 -0.8 118.0 11.1 40.53 7.8 23.94 -1.1 169.3 8.9

Tuesday Current Month 63.4 5.6 40.1 -4.6 158.0 10.7 91.51 -8.7 69.90 4.2 130.9 -12.4 58.00 -3.6 28.05 -0.6 206.8 -3.0

Year To Date 48.6 -1.0 31.9 0.0 152.5 -1.0 74.61 4.4 62.16 0.0 120.0 4.4 36.27 3.4 19.81 0.0 183.1 3.4

Running 3 Month 53.1 0.3 36.7 2.7 144.6 -2.3 77.05 -1.1 63.94 -0.6 120.5 -0.5 40.89 -0.7 23.46 2.1 174.3 -2.8

Running 12 Month 51.5 -6.1 37.7 -4.0 136.3 -2.1 76.36 9.0 65.00 -0.3 117.5 9.3 39.30 2.4 24.54 -4.3 160.2 7.0

Wednesday Current Month 59.9 -10.2 41.3 -0.1 145.1 -10.1 90.19 -6.8 68.22 2.1 132.2 -8.7 54.00 -16.3 28.14 2.0 191.9 -17.9

Year To Date 50.5 -2.0 33.3 4.3 151.8 -6.0 76.31 7.9 60.42 -3.1 126.3 11.3 38.53 5.7 20.09 1.0 191.7 4.7

Running 3 Month 55.2 -5.9 38.0 3.0 145.4 -8.7 78.12 0.6 61.76 -3.4 126.5 4.2 43.14 -5.3 23.46 -0.5 183.9 -4.9

Running 12 Month 53.6 -2.4 38.9 -0.4 137.6 -2.0 78.72 11.8 64.92 0.0 121.3 11.8 42.18 9.1 25.28 -0.4 166.8 9.5

Thursday Current Month 61.3 6.6 43.5 2.9 140.9 3.5 102.88 -6.2 72.29 2.1 142.3 -8.1 63.05 0.0 31.45 5.0 200.5 -4.8

Year To Date 50.4 -7.8 36.3 1.3 138.8 -9.0 81.14 6.3 63.23 -2.1 128.3 8.7 40.87 -1.9 22.95 -0.9 178.1 -1.1

Running 3 Month 58.6 -5.0 44.4 8.8 131.9 -12.7 84.15 -1.2 64.91 -3.6 129.6 2.5 49.30 -6.1 28.83 4.9 171.0 -10.5

Running 12 Month 55.9 -1.1 43.3 -0.9 129.1 -0.3 85.18 13.6 67.55 -0.3 126.1 14.0 47.60 12.3 29.24 -1.2 162.8 13.7

Friday Current Month 59.9 -1.5 67.3 6.8 89.0 -7.7 118.86 -18.3 118.64 9.4 100.2 -25.3 71.17 -19.5 79.79 16.8 89.2 -31.0

Year To Date 60.1 -3.0 50.7 5.2 118.5 -7.8 101.41 2.4 86.96 1.5 116.6 0.9 60.92 -0.7 44.07 6.7 138.2 -6.9

Running 3 Month 66.7 -5.1 60.9 10.3 109.5 -13.9 109.60 -3.2 94.28 1.0 116.2 -4.1 73.11 -8.1 57.41 11.4 127.3 -17.4

Running 12 Month 67.8 -3.6 55.8 2.6 121.5 -6.1 114.59 9.0 91.17 2.0 125.7 6.9 77.64 5.1 50.83 4.6 152.7 0.4

Saturday Current Month 72.5 -2.2 76.1 5.0 95.3 -6.8 135.14 -16.9 116.85 7.0 115.7 -22.3 97.96 -18.7 88.87 12.3 110.2 -27.6

Year To Date 54.7 -8.8 52.8 5.2 103.6 -13.3 105.51 0.3 87.33 0.0 120.8 0.3 57.73 -8.5 46.11 5.2 125.2 -13.0

Running 3 Month 65.3 -8.7 64.0 8.6 102.0 -16.0 115.46 -2.9 95.32 1.9 121.1 -4.7 75.37 -11.3 61.02 10.7 123.5 -19.9

Running 12 Month 67.0 -6.7 60.1 5.0 111.4 -11.2 117.65 8.2 92.11 1.0 127.7 7.1 78.84 0.9 55.39 6.1 142.3 -4.9

Weekday Current Month 58.8 3.6 40.0 -1.4 147.1 5.2 99.54 -5.6 73.96 -3.7 134.6 -2.0 58.56 -2.2 29.58 -5.1 198.0 3.1

(Sun-Thu) Year To Date 47.3 -1.0 32.2 1.9 147.0 -2.8 78.60 7.9 63.19 -3.3 124.4 11.6 37.21 6.8 20.35 -1.5 182.9 8.4

Running 3 Month 51.9 -2.3 37.8 5.4 137.5 -7.3 81.77 1.7 65.25 -4.5 125.3 6.5 42.45 -0.6 24.64 0.6 172.3 -1.3

Running 12 Month 50.9 -2.7 38.1 -0.7 133.7 -2.0 79.95 11.5 66.33 -1.1 120.5 12.7 40.69 8.4 25.25 -1.8 161.2 10.4

Weekend Current Month 66.2 -1.9 71.7 5.8 92.4 -7.2 127.78 -17.5 117.69 8.1 108.6 -23.7 84.57 -19.0 84.33 14.4 100.3 -29.2

(Fri-Sat) Year To Date 57.4 -5.8 51.7 5.2 110.9 -10.5 103.36 1.3 87.15 0.7 118.6 0.6 59.32 -4.6 45.09 5.9 131.6 -10.0

Running 3 Month 66.0 -6.9 62.5 9.3 105.7 -14.8 112.49 -3.1 94.82 1.5 118.6 -4.5 74.24 -9.8 59.21 10.9 125.4 -18.7

Running 12 Month 67.4 -5.2 57.9 3.8 116.3 -8.7 116.13 8.6 91.66 1.5 126.7 7.0 78.24 2.9 53.11 5.4 147.3 -2.3

Total Current Month 60.9 1.9 50.2 1.8 121.4 0.1 108.30 -10.8 94.09 3.4 115.1 -13.7 65.99 -9.1 47.24 5.2 139.7 -13.6

Year To Date 50.2 -2.6 37.9 3.2 132.5 -5.6 86.64 4.8 72.72 -1.2 119.1 6.1 43.48 2.1 27.56 1.9 157.8 0.1

Running 3 Month 55.7 -4.2 44.7 6.3 124.5 -9.8 91.60 -1.1 76.92 -1.8 119.1 0.7 51.04 -5.2 34.41 4.4 148.3 -9.2

Running 12 Month 55.5 -3.8 43.7 0.8 126.9 -4.5 92.24 9.7 75.90 0.3 121.5 9.3 51.20 5.5 33.19 1.2 154.3 4.3

STR, Inc.

Weekday/Weekend

My Property Competitive Set

Occupancy (%) Average Daily Rate RevPAR

My Property Competitive Set Index (MPI) My Property Index (RGI)Competitive Set Index (ARI)

32

42

52

62

72

Sunday Monday Tuesday Wednesday Thursday Friday Saturday Weekday Weekend

Current Month Occupancy

My Property

Competitive Set

63

83

103

123

Sunday Monday Tuesday Wednesday Thursday Friday Saturday Weekday Weekend

Current Month ADR

Tab 7 - Daily Data for the Month

Fr Sa Su Mo Tu We Th Fr Sa Su Mo Tu We Th Fr Sa Su Mo Tu We Th Fr Sa Su Mo Tu We Th Fr Sa Su

May

1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31

My Property 55.6 58.3 29.2 52.8 51.4 62.5 66.7 50.0 61.1 43.1 56.9 54.2 48.6 52.8 81.9 100.0 81.9 86.1 88.9 73.6 65.3 50.0 56.9 52.8 58.3 50.0 68.1 34.7

Competitive Set 64.7 59.5 29.8 42.5 40.1 43.8 36.0 56.5 64.0 33.6 35.6 37.0 35.6 49.7 75.0 86.0 32.3 40.4 44.5 43.5 39.7 71.9 92.1 27.1 37.0 40.1 46.6 64.0 74.0 49.0

Index (MPI) 85.8 98.0 97.9 124.3 128.3 142.6 185.4 88.5 95.4 128.3 159.9 146.5 136.5 106.3 109.3 116.3 253.6 213.1 199.7 169.2 164.3 184.8 154.0 131.7 125.2 78.1 92.0 70.9

% Chg

My Property 11.1 7.7 5.0 -9.5 -2.6 9.8 14.3 5.9 69.2 14.8 5.1 8.3 -12.5 -9.5 7.3 0.0 90.3 44.2 42.2 3.9 34.3 28.6 -4.7 -20.8 -6.7 -7.7 -22.2 -44.4

Competitive Set 35.0 1.1 6.1 21.6 10.4 15.3 1.0 26.0 8.1 8.9 8.3 8.0 -3.7 7.4 -7.6 8.2 -23.9 -4.1 -9.7 -4.5 -23.7 -3.7 1.5 1.3 -23.9 -10.7 -0.7 -4.1 -0.5 0.7

Index (MPI) -17.7 6.5 -1.0 -25.6 -11.8 -4.8 13.2 -15.9 56.6 5.4 -3.0 0.3 -9.1 -15.8 16.1 -7.5 150.1 50.3 57.5 8.8 76.0 26.9 25.4 -11.4 -6.0 -3.7 -21.9 -44.8

May

1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31

My Property 88.78 81.72 74.37 76.10 68.55 76.23 77.79 81.30 89.63 75.66 73.97 72.64 71.36 74.82 114.17 140.21 130.51 73.00 77.59 71.83 105.15 84.36 75.90 73.30 73.76 91.29 106.92 88.06

Competitive Set 83.90 89.17 68.64 61.26 67.98 65.74 68.06 89.30 87.41 70.83 61.46 64.78 65.41 71.26 136.68 134.57 88.84 76.92 68.66 64.20 71.77 160.06 139.87 77.85 66.99 67.05 66.77 88.18 92.39 74.46

Index (ARI) 105.8 91.6 108.3 124.2 100.8 116.0 114.3 91.0 102.5 106.8 120.4 112.1 109.1 105.0 83.5 104.2 146.9 94.9 113.0 111.9 146.5 108.4 113.3 109.3 110.5 103.5 115.7 118.3

% Chg

My Property -3.4 -10.8 7.9 2.5 -6.8 16.9 4.3 -10.1 -1.5 5.2 3.6 -0.6 -6.7 0.7 -16.9 -11.7 5.4 -6.3 -2.7 -6.1 -16.6 -17.3 5.4 5.0 3.4 -7.4 -1.9 -2.4

Competitive Set -5.0 0.1 4.9 -5.9 4.6 -3.5 -5.4 2.6 -1.1 -3.1 -10.0 0.0 -2.2 0.9 10.9 16.0 -15.8 9.4 0.9 -6.1 -3.4 16.0 -2.0 6.8 -1.9 6.2 1.1 4.7 0.9 -2.7

Index (ARI) 1.7 -10.9 2.9 9.0 -10.9 21.1 10.2 -12.4 -0.4 8.6 15.2 -0.6 -4.6 -0.2 -25.0 -23.9 25.2 -14.3 -3.6 0.0 -13.7 -22.5 7.5 -1.1 2.3 -11.6 -2.8 0.3

May

1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31

My Property 49.32 47.67 21.69 40.16 35.23 47.64 51.86 40.65 54.77 32.57 42.12 39.35 34.69 39.49 93.56 140.21 106.95 62.87 68.97 52.87 68.64 42.18 43.22 38.68 43.03 45.65 72.77 30.58

Competitive Set 54.30 53.10 20.45 26.02 27.24 28.82 24.47 50.46 55.98 23.77 21.89 23.96 23.30 35.39 102.51 115.67 28.71 31.08 30.57 27.92 28.51 115.11 128.87 21.06 24.78 26.87 31.10 56.47 68.34 36.47

Index (RGI) 90.8 89.8 106.1 154.4 129.3 165.3 211.9 80.6 97.8 137.0 192.4 164.2 148.9 111.6 91.3 121.2 372.5 202.2 225.6 189.4 240.7 200.3 174.4 144.0 138.3 80.8 106.5 83.9

% Chg

My Property 7.4 -3.9 13.3 -7.2 -9.3 28.3 19.2 -4.8 66.8 20.8 8.9 7.7 -18.4 -8.9 -10.8 -11.7 100.7 35.2 38.4 -2.4 12.0 6.3 0.5 -16.9 -3.5 -14.5 -23.7 -45.8

Competitive Set 28.2 1.2 11.3 14.4 15.5 11.3 -4.5 29.2 6.9 5.5 -2.5 8.0 -5.8 8.3 2.5 25.5 -35.9 5.0 -8.9 -10.3 -26.3 11.7 -0.5 8.1 -25.4 -5.2 0.3 0.4 0.4 -2.0

Index (RGI) -16.3 -5.0 1.8 -18.9 -21.4 15.3 24.8 -26.4 56.0 14.5 11.8 -0.3 -13.3 -15.9 -13.0 -29.6 213.1 28.7 51.9 8.8 51.9 -1.7 34.7 -12.4 -3.9 -14.9 -24.0 -44.7

STR, Inc.

Occupancy (%)

ADR


RevPAR

For the Month of: May 2015 Date Created: June 18, 2015 Daily Competitive Set Data Excludes Subject Property


66

116

166

216

266

316

366

1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31

Daily Indexes for the Month of May

Tab 8 - Help

Definitions

ADR (Average Daily Rate) - Room revenue divided by rooms sold, displayed as the average rental rate for a single room.

Competitive (Comp) Set - A peer group of competitive hotels selected by hotel management to benchmark the subject property’s performance.

Contract - Rooms sold/revenue from bookings sold at rates stipulated by contracts including airline crews and permanent guests.

Exchange Rate - The factor used to convert revenue from US Dollars to the local currency. Reports display the monthly exchange rates (the rate on the last day of the month) and the daily exchange rates on the Daily by Month pages. STR obtains exchange rate data from Oanda.com. Any aggregated number in the report (YTD, Running 3 month, Running 12 month) uses the exchange rate of each relative month when calculating the data.

Fiscal Year To Date (YTD) - Custom fiscal year as specified by individual hotel or hotel group, if a non-calendar Fiscal Year to Date calculation is more applicable (e.g. July – June) to coincide with hotel/hotel groups operations and financial reporting.

Food & Beverage Revenue (F&B) - Revenue derived from food and beverage sales.

Group - Rooms sold/revenue from bookings sold simultaneously in blocks of ten (10) or more.

Index (Occupancy, ADR, RevPar) - Property performance divided by competitive set performance multiplied by 100. Internationally, indexes are also referred to as MPI – Market Penetration Index (Occupancy Index),

ARI – Average Rate Index (ADR Index), and RGI – Revenue/RevPAR Generation Index (RevPAR Index).

Market Class - Class is an industry categorization which includes chain-affiliated and independent hotels. The class for a chain-affiliated hotel is the same as its chain scale. An independent hotel is assigned a class based on its ADR, relative to that of the chain hotels in their geographic proximity. There are six (6) class groups: Luxury, Upper Upscale, Upscale, Upper Midscale, Midscale and Economy.

Market Class Combined (or Collapsed) – If a single class segment is insufficient for reporting, classes are combined. There are three combined class segments: Luxury and Upper Upscale, Upscale and Upper Midscale, and Midscale and Economy.

Market Scale - Hotels located in the subject property’s market and classified in the subject property’s STR chain scale segment. There are seven (7) scale groups; Luxury, Upper Upscale, Upscale, Upper Midscale, Midscale, Economy and Independent.

Market Scale (Collapsed) – Hotels located in the subject property’s market and classified in the subject property’s STR chain scale segment. There are two (2) market scale (collapsed) groups; Upscale (includes Luxury, Upper Upscale, Upscale, Independent) and Midscale/Economy (includes Upper Midscale, Midscale and Economy).

MTD (Month to Date) - If a month ends during the current week, the MTD number would represent the month that ended.

Occupancy - Rooms sold divided by rooms available multiplied by 100. Occupancy is always displayed as a percentage of rooms occupied.

Other Revenue - All hotel revenue other than room and food and beverage revenue.

Percent Change (% Chg) - Amount of growth – up, down or flat – this period versus same period last year (day, week, running 28 days, running month-to-date). Calculated as ((TY-LY)/LY)*100.

Percent Change Rank (Occupancy, ADR, RevPar) - The percent change for the property is compared to the percent change of each hotel in the comp set.

Rank (Occupancy, ADR, RevPar) - Property performance ranked versus hotels in the competitive set (e.g. a “3 of 6” ADR ranking means the subject hotel’s absolute ADR is third highest of the six competitors).

RevPAR (Revenue per Available Room) - Room revenue divided by rooms available

Room Revenue - Revenue derived from guestroom rental.

Segmented Data - Rooms sold and revenue data broken down by Transient, Group, and Contract.

Tract Scale – Hotels located in the subject property’s tract and classified in the subject property’s STR chain scale segment. There are four (4) tract scale groups; Upscale (includes Luxury, Upper Upscale, Upscale), Midscale (includes Upper Midscale and Midscale), Economy and Independent.

Transient - Rooms sold/revenue from guests with reservations at Rack, Corporate, Corporate Negotiated, Package, Government or foreign traveler rates.

Planning - The project will go out for bids, construction will start within 4 months, or an architect/engineer has been selected for the project and plans are underway.

Under Construction - Ground has been broken or the owner is finalizing bids on the prime (general) contract.

FAQ

How is my hotel performing versus competition?The monthly STAR report provides timely occupancy, average room rate, revenue per available room benchmarking of your hotel’s performance versus your own selected competitors and an STR defined industry segment.

Is my hotel’s data included in the competitive numbers?It depends on your preference. Check the summary page to see if your hotel’s data is included or excluded in the competitive set numbers.

How does STR determine currency and exchange rates?Currency is user-defined and is displayed at the top of the report. STR obtains exchange rate data from Oanda.com.

How are percentage changes computed?Hotel and competitive performance changes are measured against same period prior year.

Why do my percentage change numbers have such a large range?The data for this year vs. the same period last year may vary greatly. Consider if you sold 2294 rooms this year vs. 743 last year, the percent change would be 208.7% ((2294-743)/743)*100.

What is an index?An index is an easy way to compare your hotel’s performance versus competition. An index of 100 or higher means your hotel’s absolute performance is the same or better than competition.

What does the “Rank” information mean?Your hotel’s performance is ranked against the other properties in your competitive set. If your hotel’s RevPAR rank is “2 of 6”, that means your hotel’s RevPAR was second highest of the six hotels in your competitive set.

What does “running 28 days” mean?The most recent 28 days historical performance. The running 28 day numbers are based on the most current 28-day period, ending with the last day included in the weekly report.

What does “run MTD” mean?Running month-to-date. The MTD numbers are based on a calendar month and include all days of the same month, through the most recent calendar day included in the report. If the most recent week’s reporting includes data in two calendar months, the MTD numbers only include data from the recently ended month.

What if there are blanks in my competitive set numbers?Your competitive set did not include sufficient data for reporting. A minimum of three (3) hotels excluding the subject property must report data in order for STR to provide competitive set performance.

What if there are blanks in my competitive set percentage change?Your competitive set did not include sufficient data for reporting prior year data.

What is "Pipeline" on the Summary Tab?Pipeline data is generated based on the STR/McGraw-Hill Construction Dodge Supply Pipeline database and details hotels that are being planned but not yet open. Every month STR receives data feeds from its hotel clients and Dodge Construction to create the definitive database for hotels in planning, pre-planning or under construction. The data is widely used by investment banks, development groups and hotel owners to estimate future nationwide supply growth and track supply changes in the market.

Who can I contact if I have more questions? Check out the glossary and FAQ at www.str.com or e-mail [email protected]

If I'm an all-inclusive hotel, how can I benchmark my package rate?In order to benchmark your package rate, you'll need to participate in the Segmentation program which will break out your revenues by Rooms, F&B, & Other.

This will provide you with a TrevPAR which is the total revenue per available room and is the same as an all-inclusive package rate. STR, Inc.

EconoLodge Ithaca, New York - Amazon S3...Note 2: 2014/Trailing 12 months includes payments for...

Documents

Transcript of EconoLodge Ithaca, New York - Amazon S3...Note 2: 2014/Trailing 12 months includes payments for...