2018 HOSTAlmanac

HOST Almanac 2018
2017
For the year 2017
2016
The HOST Almanac is an annual publication of STR, Inc. All information contained in this report is assembled and compiled
by STR. Although information in this publication has been obtained from sources that STR believes to be reliable and
accurate, we do not guarantee its accuracy since it is submitted by third parties. See page 32 for detailed information
on study methodology and techniques. All opinions and estimates included in the HOST Almanac constitute the best
judgment of STR and are subject to change without notice. This publication is not intended to represent the rendering of
legal, accounting or professional services. Reproduction is prohibited without prior written authorization. Items may be
quoted when full credit is given to the HOST Almanac by STR.
For publication information:

Call +1 615 338 3535
E-mail HOST@STR.com
Web http://www.str.com/host_program
© 2018 by STR, Inc. All rights reserved
The HOST Almanac is published by and all data in the HOST Almanac are compiled by:
STR
11001 W. 120th Ave., Suite 250
Broomfield, Colorado 80021
Joseph Rael
Director of Financial Performance
Raquel Ortiz
Assistant Director of Financial Performance
HOST Almanac 2018 © 2018 by STR, Inc. All rights reserved 2

Table of Contents
REPORTS
U.S. Lodging Industry Profitability . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4
Mapping Profitability. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8
Modeling Hotel Profitability. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 11
Looking Back: The U.S. Hotel Industry in Charts and Graphs. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 14
INFO
Geographic Regions. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 31
Methodology. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 32
SUMMARIES
Total U.S. Summary . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 33
Full-Service Summary . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 34
Limited-Service Summary. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 35
Total U.S. Summary Ratio-to-Sales. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 36
Total U.S. Summary Per-Available-Room . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 38
Total U.S. Summary Per-Occupied-Room Night. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 40
FULL-SERVICE
Full-Service Summary Ratio-to-Sales. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 42
Full-Service Summary Per-Available-Room . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 44
Full-Service Summary Per-Occupied-Room Night. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 46
LIMITED-SERVICE
Limited-Service Summary Ratio-to-Sales. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 48
Limited-Service Summary Per-Available-Room. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 50
Limited-Service Summary Per-Occupied-Room Night. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 52
TOTAL U.S. DETAILED ANALYSIS
Ratio-to-Sales Total U.S. Detailed Revenue. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 54
Ratio-to-Sales Total U.S. Detailed Departmental Expenses . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 56
Ratio-to-Sales Total U.S. Detailed Undistributed Expenses . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 58
Ratio-to-Sales Total U.S. Detailed Selected Fixed Costs. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 60
Per-Available-Room Total U.S. Detailed Revenue. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 62
Per-Available-Room Total U.S. Detailed Departmental Expenses. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 64
Per-Available-Room Total U.S. Detailed Undistributed Expenses. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 66
Per-Available-Room Total U.S. Detailed Selected Fixed Costs . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 68
Per-Occupied-Room Night Total U.S. Detailed Revenue. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 70
Per-Occupied-Room Night Total U.S. Detailed Departmental Expenses . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 72
Per-Occupied-Room Night Total U.S. Detailed Undistributed Expenses. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 74
Per-Occupied-Room Night Total U.S. Detailed Selected Fixed Costs. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 76
LABOR ANALYSIS
Labor Summary . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 78
Ratio-to-Sales Total U.S. Detailed Labor . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 79
Per-Available-Room Total U.S. Detailed Labor. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 81
Per-Occupied-Room Night Total U.S. Detailed Labor. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 83
GLOSSARY
Glossary of HOST Terminology . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 85

U.S. Lodging Industry Profitability
by Joseph Rael, Director of Financial Performance - STR
U.S. lodging industry revenues topped an estimated $208 billion in 2017, increasing $10 billion in revenue from 2016.
Total industry-wide house profit reached $77 billion in 2017. Total revenues and house profit again represent all-time
highs for the industry. STR’s HOST P&L program compiles data from over 9,000 hotels annually, including over 1,900,000
rooms globally.
While revenues are still growing, expense growth has topped revenue growth for the second year in a row. So while hotel
profits continue to grow in most cases, profit margins have somewhat declined for the second consecutive year.
U.S. Lodging Industry Revenues and Profits
Room Revenue $157B

Food Revenue $23B
Beverage Revenue $7B
Other F&B Revenue $7B
Other Operated Revenue $7B
Miscellaneous Income $6B
Total Revenues $208B
Room Expenses $42B
F&B Expenses $27B
Other Department Expenses $5B
Departmental Profit $134B
A&G Expenses $18B
I&TS Expense $3B
Marketing Expenses $12B
POM Expenses $10B
Utility Expenses $7B
GOP $77B
Management Fees $6B
Property Tax Expense $8B
Insurance Expense $2B
EBITDA $59B
Reserve for Replacement $7B
Total Labor $65B
$0B $25B $50B $75B $100B $125B $150B $175B $200B $225B

Same-Store Analysis
STR analyzed same-store growth rates for over 5,200 U.S. hotels that participated in the HOST program in 2017 and 2016.
In this analysis, gross operating profits (GOP) increased +1.0% on +1.9% total revenue growth. Full-service hotels grew
house profit +1.4%, while limited-service hotels realized a slight profit decline (-0.2%) from 2016 levels. Luxury hotels
exhibited the greatest profit increases (+3.1%) by a wide margin, while Upscale and Upper Midscale Class segments both
experienced profit declines of -0.3%.
2017 U.S. HOST P&L Profit Growth by Class

Rooms Total Departmental
Revenue Revenues Profit GOP EBITDA Total Labor
2.9% 3.1% 2.8% 3.1% 4.1% 3.8%
Luxury
2.1% 2.6%
1.5% 1.4% 1.4% 1.0%
Upper Upscale
3.9%
1.3% 1.5%
0.8%
Upscale
-0.3% -1.7%
3.9%
1.6% 1.4%
0.9%
Upper Midscale
-0.3%
-2.8%
4.2%
1.7% 2.0%
0.6% 0.3% 0.2%
Midscale/Economy

For the fourth year in a row, Miscellaneous Income led all revenue departments with +8.8% growth, demonstrating the
recent industry-wide emphasis of fee-based income. The largest expense increase came in the I&TS department, where
we continue to see growth from operators who have been slow to adopt the new department, which was instituted in 2015.
This year franchise fees, management fees, and property taxes also experienced some of the largest expense increases,
with all three exceeding 4.0% growth. Utility expenses increased +1.3% in 2017 after two straight years of declines. Total
labor costs grew +3.2% in 2017, below the 4.0% growth levels of the previous two years, but labor costs grew at a higher
rate than revenues for the second year in a row.
2017 U.S. HOST P&L Departmental Growth
Rooms Revenue 1.8%

Food Revenue 0.8%
Beverage Revenue 3.2%
Other F&B Revenue 1.0%
Other Dept Revenue 2.7%
Miscellaneous Income 8.8%
Total Revenues 1.9%
Rooms Expense 3.3%
F&B Expense 1.5%
Other Dept Expense 3.8%
Department Profit 1.5%
A&G 0.3%
I&TS 13.6%
Marketing 1.7%
Franchise Fees 4.3%
POM 2.1%
Utilities 1.3%
GOP 1.0%
Management Fees 6.4%
Property Taxes 4.1%
Insurance -5.7%
EBITDA 1.2%
Total Labor 3.2%
-8% -6% -4% -2% 0% 2% 4% 6% 8% 10% 12% 14% 16%

11th Edition Uniform System of Accounts for the Lodging Industry
In January 2015, accounting changes instituted by the 11th edition of the Uniform System of Accounts for the Lodging
Industry (USALI) went into effect. These changes are still somewhat apparent when comparing 2017 data to 2016 data.
Most of our data providers utilized the latest USALI changes for 2016 data, while some did not makes these changes until
2017. There were many changes in the new USALI, however, at a summary level there were three changes that significantly
impacted the data:
• Other F&B Revenue—The 11th edition USALI requires all service charges for the F&B department to be reported as
revenues, and the associated expense is then included in F&B expenses.
• Miscellaneous Income—Resort fees are now required to be included in Miscellaneous Income, rather than included
in Rooms Revenues or other departments. These fees are significant for many hotels, especially those in resort
destinations.
• IT Systems—IT systems was a new undistributed expense category for IT. It includes expenses for phone, internet,
and other telecommunication and technology systems. Some data providers still did not report IT systems expense for
2016. As such, this department again experienced significant gains in expenses for 2017. This change also negatively
affects the A&G department, where several of these expenses were previously located. As such, A&G shows only
modest expense growth this year. Also note that Telecommunications expense from prior years was moved from Other
Departments into the new IT Systems department.

Mapping Profitability
by Raquel Ortiz, Assistant Director of Financial Performance - STR
As the current cycle continues to bring RevPAR growth to the industry, total industry revenues and house profit hit all-time
highs, with house profit reaching $77 billion. However, U.S. profitability growth continues to slow, growing only 1.0% in
2017. When analyzing the 165 STR-defined markets, 67 markets saw profit declines in 2017, which is nearly 40% more
markets than in 2016.
To get these results, we aggregated all 2016 and 2017 P&L statements from hotels that reported in both years, specifically
looking at the percent change in house profit (gross operating profit) for each market.
U.S. Profitability Change by Market (2016-2017)

GOP% Change
-20% 20%
Same-store house profit before deductions for fixed expenses
The areas shaded in dark green enjoyed the strongest profit growth in 2017, while dark orange indicates large profit
declines for those markets. The previous two years, the majority of markets in the Western U.S. exhibited profit increases.
However in 2017, the Western U.S. saw many markets shift to lower levels of profit increases, and even profit declines in
some markets. This is an indicator that new minimum wage laws, and the overall increase in the cost of labor, has had an
effect on profits in these markets.
In 2017, five of the nine STR-defined regions saw profit increases: Mountain, South Atlantic, Pacific, East South Central,
and West South Central. The four markets that saw profit declines were New England, Middle Atlantic, East North Central,
and West North Central. When looking at the top 25 markets, 16 markets saw profit increases with Detroit, MI at the top
of the list with an +8.1% profit increase. Minneapolis/St. Paul, MN-WI had the largest house profit decrease with an -11.3%
decline.

The chart below shows the increasing number of markets that are seeing profit declines. Since 2014, the number of
markets realizing profit declines has tripled.
Number of Markets with Positive/Negative GOP % Change

180
160
22
30
140 49
67
120
100
80
142
134
60
115
98
40
20
0
2017 2016 2015 2014
 Negative  Positive
The following tables compare the markets with the greatest RevPAR gains in 2017 to those markets with the greatest
increases in house profit.
Top 10 Markets RevPAR % Change Top 10 Markets House Profit % Change
Pennsylvania Northeast 24.1% Pennsylvania Northeast 39.1%
New Mexico North 21.9% New Mexico North 27.3%
Oklahoma Area 17.9% South Carolina Area 25.8%
Nevada (Exc Las Vegas) 17.2% Nevada (Exc Las Vegas) 23.3%
Texas West 12.4% Texas West 21.9%
Sacramento, CA 12.0% Texas South 20.7%
Texas South 11.4% Wyoming 17.2%
Illinois North 10.8% Maui Island, HI 15.2%
Salt Lake City/Ogden, UT 9.9% Missouri North 15.2%
South Carolina Area 9.2% Salt Lake City/Ogden, UT 14.8%

More than half of the markets have direct overlap between both RevPAR growth and house profit growth. The only market
that was still on the list from last year was the Nevada (excluding Las Vegas) Market. Pennsylvania Northeast had the
strongest profit growth at +39.1%, which is the strongest profit growth by any market since 2014. The top 10 for RevPAR
and house profit growth are mostly secondary and tertiary markets, which have been slower to recover and thus have the
capacity to exhibit stronger growth. With the oil and gas industry picking up momentum, we are starting to see growth in
oil and gas markets, with less of these markets seeing declines.
Bottom 10 Markets RevPAR % Change Bottom 10 Markets House Profit % Change
Cleveland, OH -10.4% Louisiana South -22.3%
Louisiana South -9.8% Cleveland, OH -22.1%
Des Moines, IA -8.4% Jackson, MS -21.2%
Texas North -6.5% Kentucky Area -16.9%
Florida Keys -6.2% Des Moines, IA -15.1%
Minneapolis/St Paul, MN-WI -6.1% Massachusetts Area -13.7%
Lower Hudson Valley, NY -5.9% North Dakota -13.3%
Kentucky Area -5.4% Lower Hudson Valley, NY -13.1%
North Dakota -5.1% Texas North -13.0%
Louisville, KY-IN -4.8% Alaska -12.5%
From the bottom 10 performing markets, seven have direct overlap between RevPAR percent change and house profit
percent change. However, this list of bottom performers are seeing less of a negative impact on both RevPAR and house
profit than the bottom performers of the last two years. The Cleveland, OH market had the largest decline in RevPAR in
2017. The largest decline in terms of house profit was the Louisiana South market. The only top 25 market on either list
was Minneapolis/St Paul, MN-WI. There was only one oil and gas market still in the bottom performers for RevPAR declines
from last year, North Dakota, and only one still in the bottom 10 house profit performers, Alaska.

Modeling Hotel Profitability
by Joseph Rael, Director of Financial Performance - STR
For several years now, we have produced an estimate of total revenues and gross operating profit for the U.S. lodging
industry. These estimates were developed by extrapolating HOST P&L operating ratios across the entire U.S., based on
chain scale and service level. At a high level, we believe these estimates are very good. However, last year we set out to
develop a better and more dynamic model for the industry.
Our principal goal was to model P&L data for every U.S. hotel. In order to accomplish this, we leveraged all STR data
sources including STAR rooms revenues and additional revenues data, segmentation data, F&B STAR data, and HOST P&L
data among others. Pulling together all of these data sources, we recognized that we are already collecting 75% of total
industry revenues for the U.S. Utilizing all of this actual data, including P&L data for 9,000 hotels worldwide annually and
over 15,000 U.S. hotels since the HOST program began, gives us a considerable database of P&L data to analyze.
Incorporating all of these data sources, along with the census database, we can determine typical operating ratios for
hotels based on chain scale, service level, hotel product, room count, meeting space, market, amenities, and various
other criteria. The results were extremely positive. Comparing the modeled data to actuals from our HOST P&L data, we
found that we are able to model total revenues for 80% of our HOST participants within 5% of actuals. With respect to
gross operating profit, we are able to model over 50% of our sample within 5 percentage points of the actual profit margin.
During the next year, we will begin integrating this modeled P&L data into our custom reports for industry segments,
comp sets, long-term profitability reports, as well as for use in general consulting assignments. The same sufficiency and
isolation rules for Trend data, as well as rules for utilizing modeled data, will apply to the modeled P&L data. At that time,
we will release our full methodology for the modeled P&L data.
2016 and 2017 Modeled P&L Data Results

Room Revenue $157B
Room Revenue 2016 $150B
Total F&B Revenue $38B
Total F&B Revenue 2016 $36B
Other Revenues $13B
Other Revenues 2016 $12B
Total Revenues $208B
Total Revenues 2016 $198B
Room Expenses $42B
Room Expenses 2016 $40B
F&B Expenses $27B
F&B Expenses 2016 $26B
Other Dept Expenses $5B
Other Dept Expenses 2016 $5B
GOP $77B
GOP 2016 $73B
EBITDA $59B
EBITDA 2016 $56B
Total Labor $65B
Total Labor 2016 $62B
$0B $20B $40B $60B $80B $100B $120B $140B $160B $180B $200B $220B

The new modeling methodology allows us to continue to estimate total industry revenues and profits, but also allows us
to report departmental revenues and expenses for the U.S., as well as for individual industry segments and markets. For
example, we estimate total U.S. F&B revenues of $38 billion, other department revenues of $7 billion, and miscellaneous
income of $6 billion. Of the $38 billion in F&B revenues, $15 billion come from upper upscale hotels and $10 billion come
from luxury hotels. Independents led all chain scales with $65 billion in total revenues, followed by upper upscale chains
with $44 billion.
U.S. Revenues by Chain Scale

Luxury $18B
Upper Upscale $44B
Upscale $33B
Upper Midscale $28B
Midscale $10B
Economy $11B
Independent $65B
$5B $10B $15B $20B $25B $30B $35B $40B $45B $50B $55B $60B $65B
 Room Revenue  Beverage Revenue  Other Operated Revenue

 Food Revenue  Other F&B Revenue  Miscellaneous Income
The rooms and F&B departments totaled expenses of $42 billion and $27 billion, respectively. Total labor costs for the
industry are estimated to be $65 billion for 2017, with $48 billion coming from full-service hotels. In examining labor costs
by class, $19 billion came from the Upper Upscale class, $13 billion from the Luxury class, and another $12 billion from
the Upscale class.
Top U.S. Markets for Total Hotel Revenues

Las Vegas, NV
New York, NY
Los Angeles/Long Beach, CA
Washington, DC-MD-VA
Orlando, FL
Chicago, IL
San Francisco/San Mateo, CA
Miami/Hialeah, FL
San Diego, CA
Boston, MA
Anaheim/Santa Ana, CA
Atlanta, GA  Room Revenue
Phoenix, AZ  Food Revenue
Dallas, TX
 Beverage Revenue
Houston, TX
Oahu Island, HI  Other F&B Revenue
Seattle, WA  Other Operated Revenue
Colorado Area  Miscellaneous Income
California Central Coast
San Jose/Santa Cruz, CA
Denver, CO
Nashville, TN
Tampa/St Petersburg, FL
Philadelphia, PA-NJ
New Orleans, LA
$0B $2B $4B $6B $8B $10B $12B $14B

The Las Vegas, NV market led all markets with over $13 billion in total hotel revenues (excluding gaming) for 2017, while
the New York, NY market was second with $11 billion. Las Vegas was actually second behind New York in rooms revenues,
but with extensive revenues coming from F&B and other sources ($7.5 billion), it easily surpassed New York for the top spot
in total hotel revenues overall. In fact, over 54% of Las Vegas hotel revenues come from F&B, other operated departments,
and miscellaneous income. Los Angeles, Washington D.C., and Orlando round out the top five with total revenues all
exceeding $6 billion. In total, 23 U.S. markets surpassed $2 billion in hotel revenues for 2017. Three of these markets
are actually not a part of our top 25 markets for the industry (Colorado Area, California Central Coast, and San Jose, CA).
Colorado Area and California Central Coast both include major high-end resort destinations including Aspen and Vail in
Colorado, and Santa Barbara and Monterey in California.
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Looking Back: The U.S. Hotel Industry in Charts and Graphs
U.S. Lodging Industry: A Decade of Selected Performance Measures (2008-2017)

Occupancy (%) ADR ($) RevPAR ($) Supply Demand GOP EBITDA*
This Year % Change This Year % Change This Year % Change % Change % Change RTS RTS
2008 59.8 -4.8% 107.37 2.9% 64.24 -2.0% 2.4% -2.5% 36.8% 24.9%
2009 54.6 -8.8% 98.16 -8.6% 53.55 -16.6% 2.8% -6.2% 32.0% 19.2%
2010 57.6 5.6% 98.02 -0.1% 56.45 5.4% 1.7% 7.3% 33.1% 20.9%
2011 60.0 4.2% 101.75 3.8% 61.05 8.2% 0.4% 4.6% 34.5% 23.1%
2012 61.4 2.4% 106.04 4.2% 65.13 6.7% 0.3% 2.7% 35.5% 24.1%
2013 62.3 1.4% 110.03 3.8% 68.51 5.2% 0.5% 1.9% 35.8% 24.2%
2014 64.4 3.4% 115.15 4.7% 74.12 8.2% 0.6% 4.0% 37.4% 25.9%
2015 65.4 1.5% 120.33 4.5% 78.64 6.1% 1.0% 2.5% 38.4% 26.8%
2016 65.4 0.1% 123.94 3.0% 81.08 3.1% 1.5% 1.6% 38.2% 26.4%
2017 66.0 0.8% 126.54 2.1% 83.46 2.9% 1.8% 2.7% 37.4% 25.7%
*After fixed charges and an imputed 4.0% reserve for replacement expense
Annual Changes in Supply, Demand, and RevPAR (2010-2017)

10%
8.2 8.2
7.3
6.7
6.1
5.4
5.2
5% 4.6
4.0
3.1 2.9
2.7 2.5 2.7
1.7 1.9 1.8

1.5 1.6
1.0
0.5 0.6
0.4 0.3
0%
2010 2011 2012 2013 2014 2015 2016 2017
 Supply  Demand  RevPAR

Selected Fixed Charge Analysis
Analysis of hotels that reported selected expenses
Full-Service
Ratio to Sales Per Available Room Per Occupied Room

2017 2016 2017 2016 2017 2016
Franchise Fees (Royalty & Marketing) 4.2% 4.0% $2,802 $2,618 $10.33 $9.70
Management Fees 3.6% 3.4% $2,983 $2,771 $10.95 $10.24
Reserve for Replacement 4.2% 4.2% $3,725 $3,565 $13.60 $13.17
Taxes 3.6% 3.5% $3,071 $2,890 $11.24 $10.66
Insurance 0.9% 1.0% $766 $797 $2.81 $2.94
Limited-Service
Ratio to Sales Per Available Room Per Occupied Room

2017 2016 2017 2016 2017 2016
Franchise Fees (Royalty & Marketing) 7.3% 7.2% $2,503 $2,449 $9.14 $8.99
Management Fees 3.5% 3.5% $1,302 $1,283 $4.70 $4.67
Reserve for Replacement 4.5% 4.5% $1,677 $1,716 $5.88 $6.01
Taxes 5.2% 5.0% $1,716 $1,637 $6.23 $5.97
Insurance 0.9% 1.0% $300 $323 $1.09 $1.18
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2017 RevPAR Position: Top 25 Markets 2017 RevPAR Change: Top 25 Markets
$270 7.5
NY
$250
NAS
$230 HI 5.5
SF
ORL
ANA DET
$210
STL DC SEA TAM
ADR % Change
BOS 3.5 SD ATL
$190 MIA PHX HOU
ADR
DEN
LA HI
SD DAL
$170 LA
SEA 1.5 BOS
DC NOR
ANA
$150 NO
CHI NAS
NO
PHI DEN
$130 TAM
PHX (0.5)
ORL SF CHI MIA
MIN
$110 HOU ATL NY
STL DAL PHI
NOR DET
MIN
$90 (2.5)
55% 60% 65% 70% 75% 80% 85% 90% (3.0) (1.0) 1.0 3.0 5.0 7.0
Occupancy Occupancy % Change
NOTE: Axes set at top 25 market average NOTE: Axes set at top 25 market average
Market Name Code Market Name Code

Anaheim-Santa Ana, CA ANA New York, NY NY
Atlanta, GA ATL Norfolk-Virginia Beach, VA NOR
Boston, MA BOS Oahu Island, HI HI
Chicago, IL CHI Orlando, FL ORL
Dallas, TX DAL Philadelphia, PA-NJ PHI
Denver, CO DEN Phoenix, AZ PHX
Detroit, MI DET San Diego, CA SD
Houston, TX HOU San Francisco/San Mateo, CA SF
Los Angeles-Long Beach, CA LA Seattle, WA SEA
Miami-Hialeah, FL MIA St. Louis, MO-IL STL
Minneapolis-St. Paul, MN-WI MIN Tampa-St. Petersburg, FL TAM
Nashville, TN NAS Washington DC-MD-VA DC
New Orleans, LA NO

Gross Operating Profit (% of Total Revenues)
Median: 36.6%
Full-Service
Median: 45.4%
Limited-Service
-40% -30% -20% -10% 0% 10% 20% 30% 40% 50% 60% 70% 80%
GOP by Region (RTS)

45%
40.4%
40% 39.3%
39.1%
37.8% 37.7%
36.4% 36.8%
35.6%
35%
32.9%
30%
East North East South Middle Mountain New Pacific South West North West South
Central Central Atlantic England Atlantic Central Central
GOP by Class
55%
50% 49.5%
45% 43.3%
41.1%
40%
36.3%
35%
31.1%
30%
25%
Luxury Upper Upscale Upscale Upper Midscale Midscale/Economy

2017 GOPPAR % Change - Top 25 Markets
Detroit, MI
8.1%
Orlando, FL
6.3%
Washington, DC-MD-VA 5.8%
Anaheim/Santa Ana, CA GOPPAR % Change
5.1%
-12% 12%
Seattle, WA 5.1%
San Diego, CA TRevPAR % Change 4.4%
St Louis, MO-IL 4.3%
Oahu Island, HI 3.9%
Denver, CO 3.8%
Tampa/St Petersburg, FL 3.2%
Norfolk/Virginia Beach, VA 3.0%
Miami/Hialeah, FL 3.0%
Houston, TX 2.7%
Nashville, TN 1.8%
Atlanta, GA 1.6%
Phoenix, AZ 1.0%
New Orleans, LA -0.4%
Boston, MA -0.6%
New York, NY -0.7%
Dallas, TX -1.1%
Los Angeles/Long Beach, CA -1.6%
Philadelphia, PA-NJ -5.6%
San Francisco/San Mateo, CA -5.7%
Chicago, IL -5.8%
Minneapolis/St Paul, MN-WI -11.3%

-12% -10% -8% -6% -4% -2% 0% 2% 4% 6% 8% 10% 12%

Total U.S. Hotel Performance (Relative to 2016)
Showing Increases
70% 61%
50% 57% 56% 49%
48% 49% 48%
30%
Showing Decreases
43% 44% 39%

50% 52% 51% 51% 52%
Number of Rooms F&B Other Operated Total Room F&B Departmental Undistributed
Rooms Sold Revenue Revenue Revenue Revenue Expenses Expenses Expenses Expenses
Full-Service Hotels Performance (Relative to 2016)

Showing Increases
58% 66% 63%

51% 49% 56% 54%
46% 46%
34% 37%
Showing Decreases
49% 42% 51% 44% 46%

54% 54%
Number of Rooms F&B Other Operated Total Room F&B Departmental Undistributed
Rooms Sold Revenue Revenue Revenue Revenue Expenses Expenses Expenses Expenses
Limited-Service Hotels Performance (Relative to 2016)

Showing Increases
73%
50% 57% 51% 66% 50% 60%
27%
Showing Decreases
50% 43% 49% 44% 50% 40%
Number of Rooms Other Operated Total Room Departmental Undistributed

Rooms Sold Revenue Revenue Revenue Expenses Expenses Expenses

2017 Revenue Variance from 2016: Total U.S.
10%
9% 8.8%
8%
7%
6%
5%
4%
3.2%
3% 2.7%
2% 1.8% 1.9%
1% 0.8% 1.0%
0%
Rooms Food Beverage Other Food Other Operated Miscellaneous Total Revenue
& Beverage Departments Income
2017 Expense Variance from 2016: Total U.S.

8%
6.4%
3.8% 4.1%
4% 3.3%
1.7% 2.1%
1.5% 1.3%
0.3%
0%
-4%
-5.7%
-8%
Rooms Food & Other Administrative Marketing Property Utility Costs Management Taxes Insurance
Beverage Operated & General Operations & Fees
Departments Maintenance
2017 Variance from 2016: Total U.S.

3.0%
2.5%
2.5%
2.1%
2.0% 1.9%
1.5% 1.5%
1.2%
1.0%
1.0%
0.5%
0%
Total Revenue Total Departmental Total Departmental Total Undistributed Gross Operating EBITDA
Expenses Profit Operating Expenses Profit

Labor Costs (% of Total Revenues)
Median: 30.1%
Full-Service
Median: 21.7%
Limited-Service
5% 10% 15% 20% 25% 30% 35% 40% 45% 50% 55% 60% 65% 70%
2017 Total Labor % Change - Top 25 Markets

Seattle, WA 7.8%
Phoenix, AZ 7.0%
San Diego, CA 6.8%
New York, NY Total Labor % Change
4.9%
-12% 12%
Denver, CO 4.8%
Detroit, MI TRevPAR % Change 4.3%
Dallas, TX 3.9%
Anaheim/Santa Ana, CA 3.7%
Washington, DC-MD-VA 3.4%
Oahu Island, HI 3.4%
Nashville, TN 2.9%
Orlando, FL 2.7%
San Francisco/San Mateo, CA 2.6%
Tampa/St Petersburg, FL 2.6%
Los Angeles/Long Beach, CA 2.5%
Miami/Hialeah, FL 2.2%
New Orleans, LA 1.6%

Chicago, IL 1.6%
St Louis, MO-IL 1.1%
Atlanta, GA 1.0%
Boston, MA 0.9%
Minneapolis/St Paul, MN-WI 0.9%
Houston, TX 0.6%
Norfolk/Virginia Beach, VA -1.8%
Philadelphia, PA-NJ -1.8%
-12% -10% -8% -6% -4% -2% 0% 2% 4% 6% 8% 10% 12%

Labor Costs as % of Total Revenues
Labor Costs (% of Revenue)
18% 44%
Green = Below Average

Orange = Above Average

Percent of Hotels with GOP Increases vs. Decreases in 2017
60%
Showing Increases
40%
51% 52% 49% 51%

20% 47%
0%
Showing Decreases
-20%
49% 48% 51% 53% 49%
-40%
-60%
Food and Beverage Revenue Breakdown Per-Occupied-Room Night

(Only Full-Service Hotels Reporting Detailed F&B Revenue)
$90
$1.06
$80
$70
$60 $45.80
$50
$40
$5.48
$30 $0.94
$6.50
$20 $0.69
$32.30
$10 $18.48
$0
Food Beverage
 Venues  In-room Dining  Banquet/Catering  Mini-Bar

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Utilities RTS by Region Utilities POR by Region
6% $10 $9.66
$8.51
5% $8.03
$8 $7.65
4.2% $7.02 $7.03
$6.63 $6.43
4% 3.7% 3.7%
$6.02
$6
3.2% 3.2% 3.2%
3.0% 3.0%
3% 2.8%
$4
2%
$2
1%
0% $0
New Middle South East East West West Mountain Pacific New Middle South East East West West Mountain Pacific
England Atlantic Atlantic North South North South England Atlantic Atlantic North South North South
Central Central Central Central Central Central Central Central
Property Taxes RTS by Region Property Taxes PAR by Region

8% $6,000
6.5% $5,000 $4,963
6%
$4,000
4.6%
4.3%
4% 3.8% 3.7% $3,000
$2,652
3.2% $2,421
$2,261
2.8% 2.7% $2,067
2.6% $2,000 $1,897
$1,730 $1,739
2% $1,284
$1,000
0% $0
New Middle South East East West West Mountain Pacific New Middle South East East West West Mountain Pacific
England Atlantic Atlantic North South North South England Atlantic Atlantic North South North South
Central Central Central Central Central Central Central Central

Luxury Class Upscale Class
Revenue Distribution Revenue Distribution
2% 2%
3%
10%
7%
6%
7%
57%
19% 87%
Upper Upscale Class Upper Midscale Class

Revenue Distribution Revenue Distribution
1% 1%
3%
7% 3%
6%
5%
18%
64%
92%
 Rooms  Food  Beverage  Other Food & Beverage  Other Revenue

Total U.S. Department Expense Distribution Full-Service Department Expense Distribution
Per-Occupied-Room Night Per-Occupied-Room Night
Property Operations Property Operations

& Maintenance & Maintenance
7% 7%
Utilities Utilities
5% 5%
Rooms Rooms
Sales & Sales & 28%
31% Marketing
Marketing
15% 14%
General &
General & Administrative
Administrative 13%
13%
Food & Beverage
Food & Beverage
34%
29%
Other Operated
Other Operated Departments
Departments 5%
5%
Limited-Service Department Expense Distribution

Per-Occupied-Room Night
Payroll as a Percent of Total Revenue Property

Operations &
40% Maintenance
Utilities 9%
35% 34.4% 7%
32.3%
30%
25% Rooms
22.2% Sales & 46%
Marketing
20% 19%
15%
10% General &

Administrative
5% 17%
0%
Total U.S. Full-Service Limited-Service
Other Operated Food & Beverage

Departments 1%
2%
2017 Franchise Fees Analysis: Total U.S.
Analysis of only hotels that reported franchise fee data
Franchise Fees: Ratio of Rooms Revenue

10% 9.4%
9%
8% 7.7% 7.6%
7%
6.0%
6%
4.9% 5.1%
5% 4.4%
4.1%
4%
3% 3.0% 2.8%
2.5%
2% 1.7% 1.8%
1.3%
1% 0.5%
0%
Franchise Fees: Per-Available-Room

$3,500
$3,022
$3,000 $2,780
$2,476
$2,500
$2,000 $1,959 $1,884

$1,762
$1,590
$1,493
$1,500
$1,129 $1,158
$1,000 $831 $887 $885
$511 $499
$500
$0
Franchise Fees: Per-Occupied-Room Night

$12.00
$10.91
$10.33
$10.00 $9.32
$8.00 $7.27
$6.80 $7.05
$6.04
$6.00 $5.42
$4.08 $4.19
$4.00 $3.74
$3.11 $3.36
$2.12
$2.00 $1.79
$0
 Royalty Fees  Advertising Assessment  Total Franchise Fees

Banquet F&B Revenue vs. Meeting Space: Per-Available-Room
$20,000 1,200
1,121
$18,000 $18,802
1,000
$16,000
$14,870
$14,000
800
Banquet Revenue PAR
$12,732
Average Room Count

$12,000
$10,000 682 600
$8,000 $8,673
465 400
$6,000
$4,000 298
200
$2,000
$0 0
5,000-24,999 sq. ft. 25,000-49,999 sq. ft. 50,000-74,999 sq. ft. 75,000+ sq. ft.
 PAR l Average Room Count
Meeting Room Rental Revenue vs. Meeting Space: Per-Available-Room

$1,200 1,200
1,121
$1,000 1,000
$967
$933
Meeting Room Rental Revenue PAR
$800 $839 800

$775 Average Room Count
$600 682 600
$400 465 400
$200 298
200
$0 0
5,000-24,999 sq. ft. 25,000-49,999 sq. ft. 50,000-74,999 sq. ft. 75,000+ sq. ft.
 PAR l Average Room Count

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STR Region Map
WEST NORTH CENTRAL EAST NEW

MOUNTAIN
NORTH CENTRAL ENGLAND
MIDDLE
ATLANTIC
PACIFIC
SOUTH
ATLANTIC
EAST SOUTH CENTRAL
WEST SOUTH CENTRAL
Pacific West North Central East North Central South Atlantic New England
Alaska Iowa Illinois Delaware Connecticut
California Kansas Indiana Florida Maine
Hawaii Minnesota Michigan Georgia Massachusetts
Oregon Missouri Ohio Maryland New Hampshire
Washington Nebraska Wisconsin North Carolina Rhode Island
North Dakota South Carolina Vermont
Mountain South Dakota East South Central Virginia
Arizona Alabama Washington, DC Middle Atlantic

Colorado West South Central Kentucky West Virginia New Jersey
Idaho Arkansas Mississippi New York
Montana Louisiana Tennessee Pennsylvania
Nevada Oklahoma
New Mexico Texas
Utah
Wyoming

Methodology
In the production of the HOST Almanac, as for any report that aggregates diverse financial statements, many decisions are
made regarding data treatment and analysis. In order for this report to be of optimal benefit to the reader, it is necessary to
describe some of our major decisions and general methodology.
First, data presentation in the HOST Almanac is based on the Uniform System of Accounts for the Lodging Industry
(Eleventh Edition). In our data collection, both at the property and chain levels, we stress the importance of structuring the
data to be consistent with the Uniform System. To the best of our ability, we make every property in our sample conform
with that format. Those questionnaires that are not in a consistent format or those that do not provide us with sufficient
detail are not used in the analysis. Second, when all the data is in the proper format, we apply error and reasonableness
checks to ensure accuracy and identify outliers in the data.
All financial data is presented according to the three common measures of industry performance: ratio-to-sales (RTS),
dollars per-available-room (PAR) and dollars per-occupied-room-night (POR). When analyzing segment results, it should be
understood that each of these three measures are computed independently of each other. Some data are provided for fewer
than 12 months or for unusual reporting calendars (e.g., 13 period years), although we do not use data from hotels that
reported fewer than 9 months. Therefore, balancing the reported ratios across the three different performance measures
for each line-item is difficult. Depending on the needs of the user, one of these measures may be more appropriate than the
others for a particular revenue or expense category or type of hotel operation.
As stated above, all values presented are averages of individual property data. We feel this calculation to be most reflective
of industry segments. Since not every property provides data for every line, weighting of the data, for any alternative
calculation, is not possible.
Historical data on supply, demand, occupancy and average room rates presented in the preceding U.S. Lodging Industry
Profitability article are taken from STR’s comprehensive monthly survey of the U.S. hotel industry as reported in our
monthly Hotel Review report. In our effort to make that reporting as accurate as possible, we constantly revise historical
numbers to reflect changes to our database. For that reason, data presented in the current issue may not be the same as in
previous editions.
Revisions to historical data stem from three separate issues. First, participants in our surveys revise their back data or fill
in the gaps of missing data. Second, we constantly add new chains, management companies and individual properties to
the program. When they start participating, we ask them to provide us with two years of historical data on each property.
Finally, our national and regional results are driven by our weighting to reflect the current rate of distribution of each market.
These three factors, when taken together, usually result in minimal changes to historical data.
Not all chains and properties report all fixed charges data to STR. Above the Gross Operating Profit (GOP) line, 100
percent of the properties were included. However, below the GOP line the values presented were based on responses
from the sample received for each segment. Fixed charges data for those hotels that did report them are presented in
the Supplemental Information section. Most hotels, however, do report the selected fixed charges of property taxes and
insurance. Therefore, with the large sample of hotel financial statements collected, we believe the selected fixed charges
data presented are representative of the total HOST sample.
Because we do not receive complete fixed charges data from all hotels, the detailed Statements of Operating Income &
Expenses presented in the HOST Almanac now stop at at Earnings Before Interest, Taxes, Depreciation, and Amortization
(EBITDA). This line is generally synonymous with Net Operating Income (NOI).

Total U.S. Summary Total U.S. Chain-Affiliated Independent Total U.S.
Occupancy (of Sample) 74.6% 74.9% 71.1%
Same Store
Average Size of Property (Rooms) 194 195 177
Analysis
Average Daily Rate $168.21 $165.65 $208.94
Ratio- Per-Available- Per-Occupied- Ratio- Per-Available- Per-Occupied- Ratio- Per-Available- Per-Occupied- 2017 Variance
to-Sales Room Room Night to-Sales Room Room Night to-Sales Room Room Night from 2016
REVENUE
Rooms 69.8% $45,660 $168.21 70.7% $45,083 $165.65 59.9% $54,469 $208.94 1.8%
Food 14.5 9,458 34.84 14.1 8,995 33.05 18.2 16,528 63.40 0.8
Beverage 4.5 2,953 10.88 4.3 2,710 9.96 7.3 6,666 25.57 3.2
Other Food & Beverage 4.7 3,089 11.38 4.8 3,053 11.22 4.0 3,626 13.91 1.0
Other Operated Departments 3.8 2,467 9.09 3.5 2,227 8.18 6.7 6,118 23.47 2.7
Miscellaneous Income 2.7 1,789 6.59 2.6 1,673 6.15 3.9 3,557 13.64 8.8
Total Revenue 100.0% $65,415 $240.99 100.0% $63,741 $234.21 100.0% $90,964 $348.93 1.9%
DEPARTMENTAL EXPENSES
Rooms 25.8% $11,778 $43.39 25.4% $11,470 $42.14 30.2% $16,476 $63.20 3.3%
Food & Beverage 71.6 11,096 40.88 71.3 10,521 38.66 74.1 19,865 76.20 1.5
Total Departmental Expenses 37.8% $24,752 $91.19 37.2% $23,712 $87.13 44.7% $40,629 $155.85 2.5
Total Departmental Profit 62.2% $40,663 $149.80 62.8% $40,029 $147.08 55.3% $50,335 $193.08 1.5%
UNDISTRIBUTED OPERATING EXPENSES
Administrative & General 7.8% $5,115 $18.84 7.7% $4,894 $17.98 9.3% $8,493 $32.58 0.3%
Information & Telecommunications Systems 1.5 962 3.55 1.5 963 3.54 1.1 958 3.68 13.6
Marketing 6.5 4,255 15.67 6.6 4,191 15.40 5.8 5,232 20.07 1.7
Franchise Fees 2.1 1,368 5.04 2.3 1,441 5.29 0.3 268 1.03 4.3
Utility Costs 3.1 2,052 7.56 3.1 2,007 7.37 3.0 2,744 10.53 1.3
Property Operations & Maintenance 4.2 2,770 10.20 4.2 2,666 9.80 4.8 4,358 16.72 2.1
Total Undistributed Operating Expenses 25.3% $16,523 $60.87 25.4% $16,161 $59.38 24.2% $22,052 $84.59 2.1%
GROSS OPERATING PROFIT 36.9% $24,140 $88.93 37.4% $23,868 $87.70 31.1% $28,282 $108.49 1.0%
Management Fees 3.4 2,203 8.12 3.5 2,208 8.11 2.3 2,130 8.17 6.4
INCOME BEFORE FIXED CHARGES 33.5% $21,936 $80.81 34.0% $21,660 $79.59 28.7% $26,152 $100.32 0.5%
Selected Fixed Charges
Taxes 3.6% $2,378 $8.76 3.7% $2,356 $8.66 3.1% $2,725 $10.45 4.1%
Insurance 0.9 596 2.20 0.9 562 2.06 1.2 1,127 4.32 (5.7)
EBITDA 29.0% $18,962 $69.85 29.4% $18,743 $68.87 25.6% $22,300 $85.54 1.2%
Reserve for Replacement 2.1% $1,369 $5.04 2.2% $1,388 $5.10 1.4% $1,084 $4.16 8.8%
NOTES: Ratio-to-Sales (RTS) based on Total Revenue, except Departmental Expenses. Per-Available-Room (PAR) based on total number of hotel rooms. Per-Occupied-Room night (POR) based on total number of occupied rooms.
EBITDA shown only includes property taxes and insurance, not all fixed expenses or non-operating expenses included. Refer to page 7 for notes on this year’s same-store analysis.
33
Full-Service Summary Total U.S. Chain-Affiliated Independent Total U.S.
Same Store
Analysis
REVENUE
Rooms 64.2% $52,383 $193.82 65.1% $52,046 $191.89 55.2% $56,740 $220.02 1.9%
Food 17.4 14,214 52.59 17.1 13,664 50.38 20.7 21,308 82.63 0.9
Beverage 5.4 4,428 16.38 5.1 4,107 15.14 8.3 8,575 33.25 3.2
Other Food & Beverage 5.7 4,625 17.11 5.8 4,625 17.05 4.5 4,632 17.96 1.0
Miscellaneous Income 3.1 2,499 9.24 3.0 2,385 8.79 3.9 3,968 15.39 8.9
Total Revenue 100.0% $81,619 $302.00 100.0% $79,981 $294.89 100.0% $102,764 $398.50 2.0%
Rooms 26.3% $13,768 $50.94 26.0% $13,552 $49.97 29.2% $16,567 $64.24 3.1%
Food & Beverage 71.6 16,653 61.62 71.3 15,966 58.87 74.0 25,527 98.99 1.5
Total Departmental Expenses 40.6% $33,119 $122.55 40.0% $32,008 $118.01 46.2% $47,471 $184.08 2.4%
Information & Telecommunications Systems 1.5 1,240 4.59 1.6 1,255 4.63 1.0 1,040 4.03 14.5
Marketing 6.8 5,570 20.61 6.9 5,533 20.40 5.9 6,049 23.46 1.5
Franchise Fees 1.5 1,232 4.56 1.6 1,304 4.81 0.3 306 1.19 6.5
Utility Costs 3.0 2,444 9.04 3.0 2,400 8.85 2.9 3,007 11.66 1.3
GROSS OPERATING PROFIT 34.8% $28,388 $105.04 35.3% $28,222 $104.06 29.7% $30,531 $118.39 1.4%
Management Fees 3.4 2,797 10.35 3.5 2,832 10.44 2.3 2,342 9.08 7.4
INCOME BEFORE FIXED CHARGES 31.4% $25,592 $94.69 31.7% $25,390 $93.62 27.4% $28,189 $109.31 0.8%
Taxes 3.4% $2,770 $10.25 3.5% $2,777 $10.24 2.6% $2,692 $10.44 4.0%
Insurance 0.9 744 2.75 0.9 705 2.60 1.2 1,259 4.88 (5.5)
EBITDA 27.0% $22,077 $81.69 27.4% $21,909 $80.78 23.6% $24,237 $93.99 1.7%
Reserve for Replacement 2.2% $1,758 $6.51 2.2% $1,795 $6.62 1.3% $1,291 $5.00 8.2%
NOTES: Ratio-to-Sales (RTS) based on Total Revenue, except Departmental Expenses. Per-Available-Room (PAR) based on total number of hotel rooms. Per-Occupied-Room night (POR) based on total number of occupied rooms.
EBITDA shown only includes property taxes and insurance, not all fixed expenses or non-operating expenses included. Refer to page 7 for notes on this year’s same-store analysis.
34
Limited-Service Summary Total U.S. Chain-Affiliated Independent Total U.S.
Same Store
Analysis
REVENUE
Rooms 96.5% $32,474 $118.62 96.8% $31,864 $116.32 92.4% $46,686 $172.69 1.4%
Other Operated Departments 2.3 765 2.80 2.2 725 2.65 3.4 1,694 6.26 0.5
Miscellaneous Income 1.2 396 1.45 1.0 321 1.17 4.2 2,146 7.94 8.1
Total Revenue 100.0% $33,636 $122.86 100.0% $32,911 $120.15 100.0% $50,525 $186.89 1.4%
Rooms 24.2% $7,873 $28.76 23.6% $7,517 $27.44 34.6% $16,163 $59.79 4.2%
Other Operated Departments 61.4 470 1.72 61.5 446 1.63 60.1 1,017 3.76 (1.9)
Total Departmental Expenses 24.8% $8,342 $30.47 24.2% $7,963 $29.07 34.0% $17,180 $63.55 3.9%
Information & Telecommunications Systems 1.2 419 1.53 1.2 407 1.49 1.3 679 2.51 9.0
Marketing 5.0 1,676 6.12 5.0 1,643 6.00 4.8 2,430 8.99 3.2
Franchise Fees 4.9 1,635 5.97 5.2 1,699 6.20 0.3 139 0.51 1.5
Utility Costs 3.8 1,285 4.69 3.8 1,261 4.60 3.6 1,843 6.82 1.5
GROSS OPERATING PROFIT 47.0% $15,807 $57.74 47.4% $15,602 $56.96 40.7% $20,577 $76.12 (0.2)%
Management Fees 3.1 1,040 3.80 3.1 1,024 3.74 2.8 1,404 5.19 1.5
INCOME BEFORE FIXED CHARGES 43.9% $14,767 $53.94 44.3% $14,578 $53.22 37.9% $19,173 $70.92 (0.3)%
Taxes 4.8% $1,609 $5.88 4.7% $1,556 $5.68 5.6% $2,835 $10.49 4.6%
Insurance 0.9 306 1.12 0.9 290 1.06 1.3 675 2.50 (6.8)
EBITDA 38.2% $12,852 $46.94 38.7% $12,731 $46.48 31.0% $15,663 $57.94 (0.4)%
Reserve for Replacement 1.8% $606 $2.21 1.9% $616 $2.25 0.7% $375 $1.39 (12.0)%
NOTES: EBITDA shown only includes property taxes and insurance, not all fixed expenses or non-operating expenses included. Limited-service defined as hotels having less than 5% of revenues coming from the F&B department. Any F&B revenue/expense for limited-service hotels is included in
Other Operated Departments. Ratio to sales based on Total Revenue, except Departmental Expenses. Per Available Room based on total number of hotel rooms. Per Occupied Room Night based on total number of occupied rooms.
35
Total U.S. Ratio-to-Sales Geographic Region
New England Middle Atlantic South Atlantic East North Central East South Central West North Central West South Central Mountain Pacific
Occupancy (of Sample) 73.4% 77.9% 74.9% 70.7% 73.0% 69.6% 70.6% 72.0% 80.2%
Average Size of Property (Rooms) 196 213 198 174 157 159 183 183 226
Average Daily Rate $192.22 $208.69 $157.74 $139.07 $134.97 $120.01 $136.29 $151.34 $209.99
REVENUE
Rooms 73.6% 77.0% 66.8% 73.0% 71.6% 75.4% 68.8% 64.4% 69.0%
Food 13.8 11.1 16.1 13.6 13.7 13.0 15.3 16.7 14.1
Beverage 4.3 3.5 4.9 4.2 3.7 3.7 4.5 5.3 4.7
Other Food & Beverage 4.4 4.6 5.1 5.6 4.3 3.8 5.2 5.2 4.1
Other Operated Departments 2.5 1.7 4.0 2.0 4.2 2.2 4.0 5.2 4.8
Miscellaneous Income 1.4 2.2 3.1 1.5 2.6 2.0 2.2 3.3 3.3
Total Revenue 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0%
Rooms 24.6% 30.7% 24.4% 26.9% 22.3% 25.6% 23.7% 25.1% 25.9%
Food & Beverage 72.7 87.1 67.2 70.1 61.9 66.8 62.4 65.8 77.9
Total Departmental Expenses 36.0% 41.6% 37.0% 37.7% 32.4% 34.4% 34.5% 38.7% 39.2%
Total Departmental Profit 64.0% 58.4% 63.0% 62.3% 67.6% 65.6% 65.5% 61.3% 60.8%
Administrative & General 7.5% 8.3% 7.9% 8.1% 8.0% 8.5% 8.1% 7.9% 7.3%
Information & Telecommunications Systems 1.3 1.5 1.5 1.7 1.4 1.7 1.6 1.5 1.3
Marketing 6.4 6.2 6.8 6.9 6.4 7.2 7.0 6.7 6.0
Franchise Fees 2.4 2.0 1.9 2.8 3.4 3.5 2.4 2.3 1.5
Utility Costs 3.6 3.0 3.2 3.2 3.7 4.1 3.3 3.0 2.8
Property Operations & Maintenance 4.0 4.5 4.2 4.7 4.1 4.4 4.4 4.1 4.0
Total Undistributed Operating Expenses 25.3% 25.4% 25.6% 27.5% 27.1% 29.4% 26.8% 25.6% 23.0%
GROSS OPERATING PROFIT 38.7% 32.9% 37.4% 34.8% 40.5% 36.2% 38.6% 35.7% 37.8%
Management Fees 3.5 3.2 3.4 3.2 3.4 3.1 3.4 3.3 3.4
INCOME BEFORE FIXED CHARGES 35.2% 29.8% 33.9% 31.6% 37.1% 33.1% 35.2% 32.4% 34.4%
Taxes 3.7% 6.7% 3.2% 4.6% 2.7% 4.4% 3.7% 2.8% 2.7%
Insurance 0.7 0.7 1.2 0.7 0.9 0.7 0.9 0.6 1.0
EBITDA 30.7% 22.4% 29.6% 26.3% 33.5% 27.9% 30.6% 29.0% 30.7%
Reserve for Replacement 1.5% 1.7% 2.3% 1.9% 2.4% 1.7% 2.2% 2.0% 2.1%
NOTES: Ratio-to-sales (RTS) based on Total Revenue, except Departmental Expenses. EBITDA shown only includes property taxes and insurance, not all fixed expenses or non-operating expenses included.
36
Total U.S. Ratio-to-Sales Location Type Class
Small Metro/ Upper Upper Midscale/
Urban Suburban Airport Interstate Resort Luxury Upscale
Town Upscale Midscale Economy
Occupancy (of Sample) 76.5% 73.2% 78.0% 68.8% 73.9% 67.8% 73.5% 74.8% 76.2% 73.4% 72.7%
Average Size of Property (Rooms) 293 144 205 97 316 112 275 371 157 119 118
Average Daily Rate $204.34 $129.90 $133.05 $100.79 $223.37 $133.24 $332.42 $187.80 $144.28 $122.79 $73.48
REVENUE
Rooms 71.3% 78.0% 76.1% 85.4% 55.6% 71.1% 57.0% 64.3% 86.7% 92.2% 95.7%
Food 14.2 11.1 12.8 6.8 19.4 13.3 19.2 17.8 6.5 3.4 1.3
Beverage 4.5 3.2 3.2 2.2 6.5 4.5 7.3 5.0 1.9 0.8 0.4
Other Food & Beverage 5.2 3.9 4.3 1.4 5.3 3.2 6.1 6.2 1.6 0.6 0.2
Other Operated Departments 2.5 2.4 2.1 3.3 7.8 5.2 6.9 3.4 2.0 1.9 1.4
Miscellaneous Income 2.3 1.4 1.5 0.9 5.4 2.7 3.5 3.3 1.4 1.0 1.0
Total Revenue 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0%
Rooms 27.2% 23.7% 26.0% 25.9% 25.7% 25.0% 28.1% 26.2% 23.9% 26.4% 21.9%
Food & Beverage 75.0 69.3 67.8 75.6 69.1 72.7 76.1 68.3 75.9 79.2 76.8
Total Departmental Expenses 39.0% 32.7% 34.7% 32.5% 42.5% 37.6% 46.7% 39.2% 29.4% 29.4% 22.9%
Total Departmental Profit 61.0% 67.3% 65.3% 67.5% 57.5% 62.4% 53.3% 60.8% 70.6% 70.6% 77.1%
Administrative & General 7.7% 8.4% 8.1% 9.5% 7.1% 8.7% 7.9% 7.3% 8.4% 8.8% 9.9%
Information & Telecommunications Systems 1.6 1.4 1.6 1.7 1.4 1.4 1.5 1.6 1.1 1.4 1.1
Marketing 6.8 6.3 6.6 5.4 6.2 5.9 6.3 7.1 6.2 5.6 3.9
Franchise Fees 1.6 3.6 2.8 5.5 0.8 3.5 0.3 1.5 4.4 6.0 2.6
Utility Costs 2.9 3.6 3.2 4.4 3.0 3.7 2.6 3.0 3.5 3.8 5.1
Property Operations & Maintenance 4.0 4.5 4.2 5.2 4.3 4.8 4.1 4.1 4.2 4.6 5.7
Total Undistributed Operating Expenses 24.6% 27.8% 26.5% 31.7% 22.7% 28.0% 22.7% 24.7% 27.8% 30.1% 28.4%
GROSS OPERATING PROFIT 36.4% 39.5% 38.8% 35.9% 34.7% 34.4% 30.7% 36.1% 42.8% 40.6% 48.7%
Management Fees 3.5 3.1 3.7 3.1 3.3 3.1 3.3 3.5 3.6 3.2 1.5
INCOME BEFORE FIXED CHARGES 32.9% 36.4% 35.0% 32.8% 31.4% 31.3% 27.4% 32.6% 39.2% 37.4% 47.1%
Taxes 4.5% 3.4% 3.5% 3.6% 2.5% 2.6% 3.4% 3.4% 4.0% 4.1% 5.1%
Insurance 0.8 0.8 0.9 1.1 1.2 1.2 1.0 0.9 0.9 1.0 1.1
EBITDA 27.6% 32.2% 30.6% 28.1% 27.7% 27.5% 23.0% 28.4% 34.2% 32.3% 41.0%
Reserve for Replacement 2.0% 2.1% 2.4% 1.6% 2.2% 1.8% 2.4% 2.0% 2.4% 1.8% 0.5%
NOTES: Ratio-to-sales (RTS) based on Total Revenue, except Departmental Expenses. Economy and Midscale Classes combined for isolation purposes. EBITDA shown only includes property taxes and insurance, not all fixed expenses or non-operating expenses included.
37
Total U.S. Per-Available-Room Geographic Region
REVENUE
Rooms $51,400 $58,945 $42,968 $35,856 $35,870 $30,413 $34,748 $39,676 $61,482
Food 9,673 8,493 10,358 6,691 6,843 5,234 7,715 10,269 12,573
Beverage 2,991 2,684 3,176 2,047 1,878 1,479 2,261 3,267 4,168
Other Food & Beverage 3,083 3,486 3,268 2,772 2,139 1,545 2,645 3,206 3,641
Other Operated Departments 1,725 1,284 2,550 964 2,101 883 1,999 3,198 4,323
Miscellaneous Income 993 1,648 2,016 758 1,279 788 1,125 2,035 2,949
Total Revenue $69,866 $76,541 $64,336 $49,088 $50,109 $40,341 $50,493 $61,651 $89,136
Rooms $12,641 $18,124 $10,488 $9,643 $7,982 $7,782 $8,220 $9,939 $15,944
Food & Beverage 11,454 12,768 11,290 8,067 6,726 5,516 7,870 11,015 15,878
Other Operated Departments 1,064 984 2,042 808 1,550 598 1,349 2,921 3,134
Total Departmental Expenses $25,160 $31,876 $23,820 $18,517 $16,258 $13,896 $17,439 $23,875 $34,956
Total Departmental Profit $44,706 $44,665 $40,516 $30,571 $33,851 $26,445 $33,054 $37,776 $54,181
Administrative & General $5,270 $6,348 $5,092 $3,988 $3,987 $3,440 $4,083 $4,872 $6,493
Information & Telecommunications Systems 914 1,151 948 825 723 677 820 942 1,185
Marketing 4,485 4,741 4,386 3,401 3,211 2,893 3,519 4,161 5,306
Franchise Fees 1,695 1,501 1,246 1,371 1,725 1,421 1,232 1,411 1,379
Utility Costs 2,547 2,277 2,077 1,590 1,859 1,665 1,651 1,839 2,537
Property Operations & Maintenance 2,764 3,432 2,722 2,306 2,065 1,757 2,234 2,551 3,564
Total Undistributed Operating Expenses $17,675 $19,449 $16,471 $13,481 $13,570 $11,852 $13,539 $15,775 $20,464
GROSS OPERATING PROFIT $27,032 $25,216 $24,046 $17,089 $20,281 $14,594 $19,515 $22,000 $33,716
Management Fees 2,449 2,428 2,215 1,567 1,686 1,231 1,725 2,037 3,073
INCOME BEFORE FIXED CHARGES $24,582 $22,788 $21,830 $15,522 $18,595 $13,362 $17,790 $19,963 $30,643
Taxes $2,606 $5,107 $2,049 $2,265 $1,360 $1,791 $1,885 $1,713 $2,391
Insurance 500 533 745 326 444 300 465 393 876
EBITDA $21,477 $17,149 $19,037 $12,932 $16,792 $11,272 $15,440 $17,857 $27,377
Reserve for Replacement $1,075 $1,337 $1,495 $940 $1,211 $705 $1,119 $1,260 $1,910
NOTES: Per-Available-Room (PAR) based on total number of hotel rooms. EBITDA shown only includes property taxes and insurance, not all fixed expenses or non-operating expenses included.
38
Total U.S. Per-Available-Room Location Type Class
REVENUE
Rooms $56,858 $34,572 $37,726 $25,346 $60,349 $32,689 $88,922 $51,202 $39,854 $32,653 $19,500
Food 11,345 4,918 6,358 2,008 21,077 6,109 29,889 14,190 2,990 1,216 272
Beverage 3,556 1,418 1,590 648 7,103 2,067 11,400 3,974 873 291 75
Other Food & Beverage 4,130 1,709 2,124 411 5,757 1,468 9,511 4,935 725 229 46
Other Operated Departments 2,006 1,073 1,045 994 8,466 2,399 10,736 2,692 911 665 283
Miscellaneous Income 1,828 633 757 277 5,839 1,222 5,491 2,592 631 367 196
Total Revenue $79,723 $44,322 $49,601 $29,684 $108,591 $45,954 $155,949 $79,585 $45,985 $35,420 $20,371
Rooms $15,480 $8,195 $9,816 $6,569 $15,509 $8,182 $24,997 $13,418 $9,527 $8,628 $4,277
Food & Beverage 14,274 5,578 6,828 2,318 23,464 7,009 38,639 15,774 3,481 1,374 302
Other Operated Departments 1,352 720 590 753 7,205 2,071 9,122 2,004 517 405 95
Total Departmental Expenses $31,105 $14,493 $17,233 $9,640 $46,179 $17,262 $72,759 $31,197 $13,525 $10,407 $4,673
Total Departmental Profit $48,618 $29,829 $32,367 $20,044 $62,412 $28,692 $83,190 $48,387 $32,460 $25,013 $15,698
Administrative & General $6,172 $3,715 $4,015 $2,823 $7,703 $4,008 $12,297 $5,776 $3,858 $3,102 $2,021
Information & Telecommunications Systems 1,241 618 784 490 1,487 632 2,315 1,305 526 481 232
Marketing 5,452 2,801 3,293 1,611 6,713 2,724 9,860 5,624 2,839 1,978 797
Franchise Fees 1,280 1,589 1,389 1,634 882 1,624 466 1,203 2,037 2,140 538
Utility Costs 2,283 1,591 1,573 1,296 3,272 1,689 3,985 2,421 1,605 1,329 1,030
Property Operations & Maintenance 3,188 1,995 2,087 1,546 4,635 2,200 6,449 3,302 1,908 1,615 1,167
Total Undistributed Operating Expenses $19,615 $12,310 $13,141 $9,400 $24,691 $12,877 $35,372 $19,632 $12,774 $10,646 $5,785
GROSS OPERATING PROFIT $29,002 $17,520 $19,226 $10,644 $37,721 $15,815 $47,818 $28,756 $19,686 $14,367 $9,914
Management Fees 2,772 1,390 1,849 920 3,625 1,436 5,103 2,791 1,656 1,119 312
INCOME BEFORE FIXED CHARGES $26,230 $16,129 $17,378 $9,724 $34,096 $14,379 $42,716 $25,964 $18,030 $13,248 $9,602
Taxes $3,602 $1,506 $1,716 $1,070 $2,754 $1,200 $5,308 $2,702 $1,862 $1,465 $1,036
Insurance 614 372 465 322 1,285 553 1,536 680 420 344 217
EBITDA $22,014 $14,251 $15,196 $8,332 $30,057 $12,625 $35,871 $22,583 $15,749 $11,439 $8,349
Reserve for Replacement $1,576 $949 $1,175 $464 $2,400 $809 $3,784 $1,590 $1,085 $624 $103
NOTES: Per-Available-Room (PAR) based on total number of hotel rooms. Economy and Midscale Classes combined for isolation purposes. EBITDA shown only includes property taxes and insurance, not all fixed expenses or non-operating expenses included.
39
Total U.S. Per-Occupied-Room Night Geographic Region
REVENUE
Rooms $192.22 $208.69 $157.74 $139.07 $134.97 $120.01 $136.29 $151.34 $209.99
Food 36.17 30.07 38.03 25.95 25.75 20.65 30.26 39.17 42.94
Beverage 11.19 9.50 11.66 7.94 7.07 5.83 8.87 12.46 14.24
Total Revenue $261.28 $270.99 $236.18 $190.39 $188.55 $159.18 $198.05 $235.16 $304.44
Rooms $47.27 $64.17 $38.50 $37.40 $30.03 $30.71 $32.24 $37.91 $54.45
Food & Beverage 42.84 45.20 41.44 31.29 25.31 21.77 30.87 42.01 54.23
Total Departmental Expenses $94.09 $112.86 $87.44 $71.82 $61.18 $54.83 $68.40 $91.07 $119.39
Total Departmental Profit $167.19 $158.14 $148.74 $118.57 $127.38 $104.35 $129.65 $144.09 $185.05
Administrative & General $19.71 $22.48 $18.69 $15.47 $15.00 $13.57 $16.02 $18.59 $22.18
Marketing 16.77 16.79 16.10 13.19 12.08 11.41 13.80 15.87 18.12
Franchise Fees 6.34 5.31 4.58 5.32 6.49 5.61 4.83 5.38 4.71
Utility Costs 9.53 8.06 7.62 6.17 6.99 6.57 6.48 7.01 8.66
Total Undistributed Operating Expenses $66.10 $68.86 $60.46 $52.29 $51.06 $46.77 $53.10 $60.17 $69.89
GROSS OPERATING PROFIT $101.09 $89.28 $88.27 $66.28 $76.32 $57.58 $76.54 $83.92 $115.16
Management Fees 9.16 8.60 8.13 6.08 6.34 4.86 6.77 7.77 10.50
INCOME BEFORE FIXED CHARGES $91.93 $80.68 $80.14 $60.20 $69.97 $52.73 $69.77 $76.15 $104.66
Taxes $9.74 $18.08 $7.52 $8.79 $5.12 $7.07 $7.39 $6.53 $8.17
Insurance 1.87 1.89 2.73 1.26 1.67 1.18 1.82 1.50 2.99
EBITDA $80.32 $60.71 $69.88 $50.16 $63.19 $44.48 $60.56 $68.11 $93.50
Reserve for Replacement $4.02 $4.73 $5.49 $3.65 $4.56 $2.78 $4.39 $4.81 $6.52
NOTES: Per-Occupied-Room night (POR) based on total number of occupied rooms. EBITDA shown only includes property taxes and insurance, not all fixed expenses or non-operating expenses included.
40
Total U.S. Per-Occupied-Room Night Location Type Class
REVENUE
Rooms $204.34 $129.90 $133.05 $100.79 $223.37 $133.24 $332.42 $187.80 $144.28 $122.79 $73.48
Food 40.77 18.48 22.42 7.98 78.01 24.90 111.73 52.04 10.83 4.57 1.03
Beverage 12.78 5.33 5.61 2.58 26.29 8.43 42.62 14.58 3.16 1.09 0.28
Total Revenue $286.51 $166.54 $174.93 $118.04 $401.93 $187.31 $582.99 $291.90 $166.48 $133.19 $76.77
Rooms $55.63 $30.79 $34.62 $26.12 $57.41 $33.35 $93.45 $49.22 $34.49 $32.44 $16.12
Food & Beverage 51.30 20.96 24.08 9.22 86.85 28.57 144.45 57.86 12.60 5.17 1.14
Total Departmental Expenses $111.79 $54.46 $60.78 $38.33 $170.92 $70.36 $272.00 $114.42 $48.96 $39.13 $17.61
Total Departmental Profit $174.72 $112.08 $114.15 $79.71 $231.01 $116.95 $310.99 $177.47 $117.51 $94.06 $59.16
Administrative & General $22.18 $13.96 $14.16 $11.22 $28.51 $16.34 $45.97 $21.19 $13.97 $11.67 $7.62
Marketing 19.59 10.52 11.61 6.41 24.85 11.10 36.86 20.63 10.28 7.44 3.00
Franchise Fees 4.60 5.97 4.90 6.50 3.26 6.62 1.74 4.41 7.37 8.05 2.03
Utility Costs 8.20 5.98 5.55 5.16 12.11 6.88 14.90 8.88 5.81 5.00 3.88
Total Undistributed Operating Expenses $70.49 $46.25 $46.34 $37.38 $91.39 $52.49 $132.23 $72.00 $46.25 $40.03 $21.80
GROSS OPERATING PROFIT $104.23 $65.83 $67.80 $42.33 $139.62 $64.46 $178.76 $105.47 $71.27 $54.03 $37.36
Management Fees 9.96 5.22 6.52 3.66 13.42 5.85 19.08 10.24 5.99 4.21 1.17
INCOME BEFORE FIXED CHARGES $94.27 $60.61 $61.29 $38.67 $126.20 $58.61 $159.69 $95.23 $65.27 $49.82 $36.19
Taxes $12.94 $5.66 $6.05 $4.26 $10.19 $4.89 $19.84 $9.91 $6.74 $5.51 $3.91
Insurance 2.21 1.40 1.64 1.28 4.76 2.25 5.74 2.49 1.52 1.29 0.82
EBITDA $79.12 $53.55 $53.59 $33.13 $111.25 $51.46 $134.10 $82.83 $57.01 $43.01 $31.46
Reserve for Replacement $5.66 $3.57 $4.15 $1.85 $8.88 $3.30 $14.14 $5.83 $3.93 $2.35 $0.39
NOTES: Per-Occupied-Room night (POR) based on total number of occupied rooms. Economy and Midscale Classes combined for isolation purposes. EBITDA shown only includes property taxes and insurance, not all fixed expenses or non-operating expenses included.
41
Full-Service Ratio-to-Sales Geographic Region
REVENUE
Rooms 69.9% 71.0% 61.5% 67.0% 61.8% 66.7% 62.1% 57.5% 64.8%
Food 16.0 14.4 18.9 17.0 18.8 18.0 18.8 20.0 16.2
Beverage 4.9 4.5 5.8 5.2 5.1 5.1 5.5 6.4 5.4
Total Revenue 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0%
Rooms 24.8% 31.8% 24.7% 27.9% 21.8% 25.5% 23.3% 25.4% 26.8%
Food & Beverage 72.8 87.0 67.2 70.1 62.0 66.8 62.3 65.8 77.9
Marketing 6.7 6.5 7.1 7.4 6.8 7.9 7.5 7.2 6.2
Franchise Fees 1.9 1.2 1.5 2.1 2.4 2.5 1.7 1.6 1.2
Utility Costs 3.4 2.8 3.1 3.0 3.5 4.0 3.1 2.8 2.8
Management Fees 3.6 3.3 3.5 3.2 3.4 3.0 3.5 3.4 3.5
Taxes 3.5% 6.1% 3.1% 4.5% 2.4% 4.1% 3.4% 2.7% 2.6%
Insurance 0.7 0.7 1.2 0.6 0.9 0.7 0.9 0.6 1.0
EBITDA 29.7% 19.4% 27.9% 24.0% 31.5% 26.1% 29.7% 26.6% 28.4%
NOTES: Ratio-to-sales (RTS) based on Total Revenue, except Departmental Expenses. EBITDA shown only includes property taxes and insurance, not all fixed expenses or non-operating expenses included.
42
Full-Service Ratio-to-Sales Location Type Class
REVENUE
Rooms 68.0% 68.1% 70.4% 67.4% 53.8% 58.0% 56.4% 63.5% 80.6% 76.1% 66.6%
Food 16.2 16.5 16.1 15.8 20.3 19.7 19.5 18.3 10.2 13.1 18.9
Beverage 5.1 4.7 4.0 5.1 6.8 6.6 7.4 5.1 2.9 3.1 5.1
Total Revenue 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0%
Rooms 27.4% 24.5% 26.5% 24.8% 25.7% 25.1% 28.0% 26.1% 23.9% 29.4% 31.8%
Food & Beverage 74.9 69.4 67.9 75.8 69.1 72.7 76.1 68.3 76.0 80.4 75.7
Marketing 7.1 7.0 7.1 6.9 6.3 6.5 6.3 7.1 7.0 6.7 4.6
Franchise Fees 1.2 2.9 2.3 3.5 0.7 2.3 0.3 1.5 3.9 3.1 1.5
Utility Costs 2.8 3.3 3.0 4.2 3.0 3.4 2.6 3.0 3.5 4.1 4.6
Management Fees 3.5 3.2 3.8 3.0 3.3 3.1 3.3 3.5 3.4 3.1 2.0
Taxes 4.3% 2.9% 3.2% 2.9% 2.5% 2.2% 3.4% 3.4% 3.7% 3.1% 2.4%
Insurance 0.8 0.8 0.9 1.1 1.2 1.3 1.0 0.9 1.0 1.2 1.3
EBITDA 26.3% 28.4% 28.7% 23.4% 27.1% 23.2% 22.8% 28.2% 31.3% 24.6% 21.9%
NOTES: Ratio-to-sales (RTS) based on Total Revenue, except Departmental Expenses. Economy and Midscale Classes combined for isolation purposes. EBITDA shown only includes property taxes and insurance, not all fixed expenses or non-operating expenses included.
43
Full-Service Per-Available-Room Geographic Region
REVENUE
Rooms $57,447 $66,491 $48,457 $41,892 $41,675 $34,405 $40,715 $45,996 $68,205
Food 13,131 13,527 14,901 10,600 12,689 9,279 12,344 16,016 17,069
Beverage 4,033 4,256 4,560 3,234 3,452 2,610 3,606 5,089 5,656
Other Food & Beverage 4,174 5,545 4,677 4,369 3,957 2,723 4,226 4,984 4,929
Other Operated Departments 2,102 1,769 3,446 1,339 3,534 1,321 2,926 4,802 5,633
Miscellaneous Income 1,292 2,125 2,725 1,103 2,146 1,236 1,694 3,062 3,786
Total Revenue $82,180 $93,714 $78,766 $62,537 $67,452 $51,574 $65,512 $79,949 $105,277
Rooms $14,268 $21,118 $11,970 $11,686 $9,105 $8,761 $9,488 $11,704 $18,291
Food & Beverage 15,537 20,291 16,220 12,760 12,450 9,763 12,575 17,177 21,545
Other Operated Departments 1,317 1,418 2,798 1,178 2,652 870 2,025 4,457 4,160
Information & Telecommunications Systems 1,090 1,508 1,202 1,066 975 898 1,081 1,250 1,462
Marketing 5,469 6,130 5,581 4,631 4,610 4,067 4,891 5,732 6,494
Franchise Fees 1,564 1,091 1,143 1,338 1,612 1,293 1,102 1,310 1,263
Utility Costs 2,828 2,645 2,430 1,885 2,377 2,079 2,007 2,255 2,936
Management Fees 2,973 3,120 2,742 2,019 2,287 1,565 2,296 2,683 3,652
Taxes $2,914 $5,730 $2,443 $2,794 $1,641 $2,131 $2,234 $2,123 $2,688
Insurance 591 633 926 395 624 347 579 495 1,037
EBITDA $24,376 $18,181 $21,969 $15,004 $21,251 $13,449 $19,439 $21,293 $29,901
Reserve for Replacement $1,315 $1,678 $1,910 $1,190 $1,762 $864 $1,468 $1,653 $2,320
NOTES: Per-Available-Room (PAR) based on total number of hotel rooms. EBITDA shown only includes property taxes and insurance, not all fixed expenses or non-operating expenses included.
44
Full-Service Per-Available-Room Location Type Class
REVENUE
Rooms $58,548 $41,798 $41,459 $30,950 $62,718 $40,074 $89,275 $51,003 $38,000 $31,005 $22,725
Food 13,912 10,136 9,473 7,266 23,634 13,569 30,911 14,731 4,803 5,329 6,445
Beverage 4,348 2,908 2,366 2,324 7,961 4,563 11,784 4,124 1,367 1,252 1,734
Other Food & Beverage 5,057 3,488 3,142 1,425 6,457 3,222 9,833 5,116 1,126 852 754
Other Operated Departments 2,200 1,911 1,406 3,148 9,345 5,068 11,021 2,742 1,071 1,607 1,040
Miscellaneous Income 1,986 1,144 1,025 812 6,397 2,552 5,569 2,606 751 707 1,417
Total Revenue $86,052 $61,385 $58,871 $45,924 $116,512 $69,047 $158,394 $80,322 $47,119 $40,754 $34,114
Rooms $16,057 $10,251 $11,007 $7,690 $16,095 $10,061 $25,037 $13,330 $9,069 $9,109 $7,231
Food & Beverage 17,472 11,474 10,173 8,345 26,305 15,516 39,956 16,366 5,547 5,978 6,764
Other Operated Departments 1,525 1,319 768 2,364 8,024 4,348 9,391 2,046 623 749 623
Information & Telecommunications Systems 1,397 872 992 752 1,616 944 2,358 1,323 540 457 237
Marketing 6,067 4,315 4,193 3,172 7,282 4,514 9,994 5,676 3,277 2,746 1,582
Franchise Fees 1,040 1,754 1,327 1,604 802 1,571 475 1,174 1,826 1,277 524
Utility Costs 2,431 2,024 1,759 1,922 3,480 2,345 4,047 2,441 1,650 1,681 1,586
Management Fees 3,040 1,979 2,255 1,381 3,877 2,125 5,183 2,829 1,618 1,264 696
Taxes $3,657 $1,808 $1,912 $1,317 $2,923 $1,542 $5,322 $2,695 $1,731 $1,259 $806
Insurance 660 496 556 496 1,371 885 1,560 684 451 489 453
EBITDA $22,663 $17,448 $16,870 $10,746 $31,578 $16,019 $36,158 $22,634 $14,767 $10,041 $7,481
Reserve for Replacement $1,723 $1,408 $1,467 $770 $2,592 $1,337 $3,896 $1,618 $1,071 $467 $0
NOTES: Per-Available-Room (PAR) based on total number of hotel rooms. Economy and Midscale Classes combined for isolation purposes. EBITDA shown only includes property taxes and insurance, not all fixed expenses or non-operating expenses included.
45
Full-Service Per-Occupied-Room Night Geographic Region
REVENUE
Rooms $213.17 $235.74 $179.68 $164.06 $159.76 $139.13 $160.98 $179.68 $232.79
Food 48.73 47.96 55.25 41.51 48.64 37.52 48.81 62.57 58.26
Beverage 14.96 15.09 16.91 12.66 13.23 10.55 14.26 19.88 19.30
Total Revenue $304.94 $332.25 $292.07 $244.91 $258.57 $208.55 $259.02 $312.32 $359.32
Rooms $52.94 $74.87 $44.39 $45.77 $34.90 $35.43 $37.51 $45.72 $62.43
Food & Beverage 57.65 71.94 60.15 49.97 47.73 39.48 49.72 67.10 73.54
Marketing 20.29 21.73 20.70 18.14 17.67 16.44 19.34 22.39 22.17
Franchise Fees 5.81 3.87 4.24 5.24 6.18 5.23 4.36 5.12 4.31
Utility Costs 10.49 9.38 9.01 7.38 9.11 8.41 7.93 8.81 10.02
Management Fees 11.03 11.06 10.17 7.91 8.77 6.33 9.08 10.48 12.46
Taxes $10.81 $20.32 $9.06 $10.94 $6.29 $8.62 $8.83 $8.30 $9.18
Insurance 2.19 2.25 3.43 1.55 2.39 1.40 2.29 1.94 3.54
EBITDA $90.45 $64.46 $81.46 $58.76 $81.46 $54.38 $76.86 $83.18 $102.05
NOTES: Per-Occupied-Room night (POR) based on total number of occupied rooms. EBITDA shown only includes property taxes and insurance, not all fixed expenses or non-operating expenses included.
46
Full-Service Per-Occupied-Room Night Location Type Class
REVENUE
Rooms $212.06 $160.45 $145.63 $128.76 $233.15 $167.95 $333.36 $187.33 $141.48 $120.37 $81.12
Food 50.39 38.91 33.27 30.23 87.86 56.87 115.43 54.11 17.88 20.69 23.01
Beverage 15.75 11.16 8.31 9.67 29.59 19.12 44.00 15.15 5.09 4.86 6.19
Total Revenue $311.68 $235.64 $206.79 $191.05 $433.13 $289.38 $591.46 $295.02 $175.43 $158.22 $121.78
Rooms $58.16 $39.35 $38.66 $31.99 $59.83 $42.17 $93.49 $48.96 $33.77 $35.36 $25.81
Food & Beverage 63.29 44.04 35.73 34.72 97.79 65.03 149.20 60.11 20.65 23.21 24.15
Marketing 21.97 16.56 14.73 13.20 27.07 18.92 37.32 20.85 12.20 10.66 5.65
Franchise Fees 3.77 6.73 4.66 6.67 2.98 6.58 1.77 4.31 6.80 4.96 1.87
Utility Costs 8.81 7.77 6.18 7.99 12.94 9.83 15.11 8.97 6.14 6.53 5.66
Management Fees 11.01 7.60 7.92 5.74 14.41 8.90 19.35 10.39 6.02 4.91 2.48
Taxes $13.25 $6.94 $6.72 $5.48 $10.87 $6.46 $19.87 $9.90 $6.44 $4.89 $2.88
Insurance 2.39 1.90 1.95 2.07 5.10 3.71 5.83 2.51 1.68 1.90 1.62
EBITDA $82.09 $66.98 $59.25 $44.71 $117.39 $67.14 $135.02 $83.14 $54.98 $38.98 $26.70
NOTES: Per-Occupied-Room night (POR) based on total number of occupied rooms. Economy and Midscale Classes combined for isolation purposes. EBITDA shown only includes property taxes and insurance, not all fixed expenses or non-operating expenses included.
47
Limited-Service Ratio-to-Sales Geographic Region
REVENUE
Rooms 96.9% 96.2% 96.1% 97.4% 96.7% 97.3% 97.0% 97.2% 96.1%
Total Revenue 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0%
Rooms 23.5% 28.4% 23.4% 24.1% 22.9% 25.8% 24.6% 23.9% 22.1%
Marketing 4.9 5.1 5.3 5.0 5.3 5.4 4.9 4.7 4.6
Franchise Fees 5.8 4.5 4.6 5.4 6.1 6.1 5.6 5.4 3.8
Utility Costs 5.0 3.5 4.0 4.1 4.2 4.4 4.1 3.8 3.2
Management Fees 2.8 2.7 3.2 3.0 3.3 3.1 3.1 3.1 3.3
Taxes 4.9% 8.4% 3.6% 5.2% 3.4% 5.2% 5.1% 3.4% 3.5%
Insurance 0.7 0.8 1.1 0.8 0.8 0.9 1.1 0.7 1.0
EBITDA 37.6% 31.9% 39.0% 35.8% 38.6% 32.7% 34.4% 40.2% 45.7%
NOTES: EBITDA shown only includes property taxes and insurance, not all fixed expenses or non-operating expenses included. Limited-service defined as hotels having less than 5% of revenues coming from the F&B department. Any F&B revenue/expense for limited-service hotels is included in Other
Operated Departments. Ratio to sales based on Total Revenue, except Departmental Expenses. Per Available Room based on total number of hotel rooms. Per Occupied Room Night based on total number of occupied rooms.
48
Limited-Service Ratio-to-Sales Location Type Class
REVENUE
Rooms 94.5% 97.8% 97.3% 98.6% 93.1% 98.3% 92.5% 92.8% 96.2% 97.7% 97.9%
Total Revenue 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0%
Rooms 26.2% 22.6% 24.6% 26.5% 26.2% 24.9% 30.3% 27.9% 24.0% 25.6% 21.4%
Marketing 5.3 4.9 4.8 4.3 4.7 4.7 7.0 7.1 4.9 5.2 3.9
Franchise Fees 4.4 5.0 4.9 7.0 3.5 6.1 0.3 3.2 5.3 7.0 2.7
Utility Costs 3.1 4.2 3.9 4.5 3.6 4.3 2.6 3.1 3.5 3.6 5.1
Management Fees 3.1 3.0 3.3 3.2 3.6 3.2 3.3 3.0 3.9 3.2 1.5
Taxes 6.4% 4.3% 4.3% 4.1% 3.1% 3.4% 5.8% 4.7% 4.6% 4.5% 5.3%
Insurance 0.8 0.9 0.9 1.1 1.3 1.0 1.0 0.9 0.8 0.9 1.0
EBITDA 36.6% 39.6% 38.1% 31.5% 40.1% 36.3% 32.4% 35.0% 38.8% 34.9% 42.4%
49
Limited-Service Per-Available-Room Geographic Region
REVENUE
Rooms $34,640 $46,580 $30,616 $25,632 $29,207 $25,325 $24,883 $28,512 $42,978
Other Operated Departments 933 957 830 500 713 481 595 592 1,084
Miscellaneous Income 164 867 420 174 283 217 184 221 646
Total Revenue $35,736 $48,404 $31,865 $26,306 $30,202 $26,024 $25,662 $29,326 $44,709
Rooms $8,132 $13,218 $7,151 $6,181 $6,692 $6,535 $6,123 $6,823 $9,483
Other Operated Departments 504 714 537 299 441 355 322 336 590
Information & Telecommunications Systems 424 565 375 418 434 395 387 397 422
Marketing 1,759 2,465 1,697 1,317 1,606 1,397 1,249 1,384 2,035
Franchise Fees 2,057 2,172 1,479 1,427 1,854 1,584 1,448 1,589 1,699
Utility Costs 1,770 1,674 1,281 1,091 1,265 1,138 1,063 1,104 1,438
Management Fees 998 1,294 1,030 801 996 806 783 896 1,481
Taxes $1,752 $4,085 $1,163 $1,368 $1,037 $1,357 $1,308 $988 $1,572
Insurance 249 369 337 208 237 239 276 212 431
EBITDA $13,441 $15,456 $12,439 $9,421 $11,673 $8,497 $8,827 $11,786 $20,430
Reserve for Replacement $412 $778 $561 $517 $578 $501 $542 $566 $782
50
Limited-Service Per-Available-Room Location Type Class
REVENUE
Rooms $49,576 $27,880 $30,279 $23,231 $41,060 $26,673 $78,692 $56,318 $42,601 $33,119 $19,362
Other Operated Departments 1,740 481 606 248 1,746 332 3,152 2,139 1,251 523 279
Miscellaneous Income 1,147 160 223 75 1,296 139 3,225 2,230 453 271 144
Total Revenue $52,463 $28,522 $31,107 $23,554 $44,102 $27,144 $85,070 $60,688 $44,305 $33,913 $19,784
Rooms $12,994 $6,292 $7,440 $6,145 $10,742 $6,651 $23,847 $15,695 $10,205 $8,492 $4,150
Other Operated Departments 1,103 283 388 189 874 296 1,793 1,545 782 381 98
Information & Telecommunications Systems 570 382 370 391 438 379 1,066 850 507 488 232
Marketing 2,802 1,399 1,499 1,021 2,079 1,266 5,970 4,295 2,191 1,762 764
Franchise Fees 2,311 1,437 1,514 1,645 1,535 1,668 223 1,962 2,350 2,384 539
Utility Costs 1,644 1,190 1,202 1,060 1,576 1,154 2,188 1,891 1,540 1,230 1,006
Management Fees 1,618 846 1,037 746 1,574 876 2,774 1,836 1,713 1,078 295
Taxes $3,362 $1,227 $1,325 $977 $1,370 $922 $4,902 $2,875 $2,056 $1,523 $1,046
Insurance 416 258 285 255 582 283 854 562 373 304 207
EBITDA $19,221 $11,290 $11,858 $7,421 $17,676 $9,861 $27,561 $21,251 $17,203 $11,834 $8,386
Reserve for Replacement $939 $524 $593 $348 $838 $380 $514 $852 $1,105 $668 $108
51
Limited-Service Per-Occupied-Room Night Geographic Region
REVENUE
Rooms $132.41 $164.54 $109.92 $97.83 $107.63 $96.94 $96.32 $104.40 $147.07
Total Revenue $136.61 $170.98 $114.40 $100.40 $111.30 $99.61 $99.34 $107.38 $152.99
Rooms $31.09 $46.69 $25.68 $23.59 $24.66 $25.01 $23.70 $24.98 $32.45
Marketing 6.72 8.71 6.09 5.03 5.92 5.35 4.84 5.07 6.97
Franchise Fees 7.86 7.67 5.31 5.44 6.83 6.06 5.60 5.82 5.81
Utility Costs 6.76 5.91 4.60 4.16 4.66 4.35 4.12 4.04 4.92
Management Fees 3.82 4.57 3.70 3.06 3.67 3.09 3.03 3.28 5.07
Taxes $6.70 $14.43 $4.17 $5.22 $3.82 $5.19 $5.06 $3.62 $5.38
Insurance 0.95 1.30 1.21 0.79 0.87 0.92 1.07 0.78 1.47
EBITDA $51.38 $54.60 $44.66 $35.96 $43.02 $32.53 $34.17 $43.16 $69.91
52
Limited-Service Per-Occupied-Room Night Location Type Class
REVENUE
Rooms $172.39 $102.75 $107.65 $90.87 $146.78 $106.34 $304.14 $199.23 $148.17 $123.44 $73.14
Total Revenue $182.43 $105.11 $110.59 $92.13 $157.65 $108.22 $328.79 $214.69 $154.10 $126.41 $74.74
Rooms $45.18 $23.19 $26.45 $24.04 $38.40 $26.52 $92.17 $55.52 $35.49 $31.65 $15.68
Marketing 9.74 5.16 5.33 4.00 7.43 5.05 23.07 15.19 7.62 6.57 2.88
Franchise Fees 8.04 5.29 5.38 6.44 5.49 6.65 0.86 6.94 8.17 8.89 2.03
Utility Costs 5.72 4.38 4.27 4.15 5.63 4.60 8.46 6.69 5.36 4.58 3.80
Management Fees 5.63 3.12 3.69 2.92 5.63 3.49 10.72 6.50 5.96 4.02 1.12
Taxes $11.69 $4.52 $4.71 $3.82 $4.90 $3.67 $18.95 $10.17 $7.15 $5.68 $3.95
Insurance 1.45 0.95 1.01 1.00 2.08 1.13 3.30 1.99 1.30 1.13 0.78
EBITDA $66.84 $41.61 $42.16 $29.03 $63.19 $39.31 $106.52 $75.18 $59.83 $44.11 $31.68
53
Total U.S. Revenue: Ratio-to-Sales Geographic Region
REVENUE
Rooms
Transient Revenue 50.7% 56.4% 40.3% 47.1% 44.2% 52.2% 39.6% 38.7% 46.9%
Group Revenue 18.1 14.9 20.9 21.7 21.1 20.6 22.3 20.3 15.7
Rooms Other 3.6 4.1 3.4 3.3 2.9 1.9 3.0 3.6 5.1
Service Charges 2.3 1.2 1.2 2.5 - 2.2 1.5 0.8 0.7
Food
Venues 5.3% 4.2% 6.6% 5.1% 6.2% 4.6% 5.4% 6.9% 6.5%
In-Room Dining 0.9 1.3 1.0 1.0 0.7 0.9 1.0 1.0 1.0
Banquet/Catering 9.1 8.3 11.3 10.5 11.0 11.0 12.2 11.7 7.9
Mini Bar 0.2 0.4 0.2 0.3 0.3 0.3 0.3 0.2 0.3
Other 2.7 1.9 1.9 1.0 0.5 1.7 1.1 0.7 1.4
Beverage
Venues 3.3% 2.8% 3.8% 3.1% 3.5% 3.3% 3.5% 4.4% 3.5%
In-Room Dining 0.1 0.2 0.2 0.2 0.1 0.2 0.2 0.2 0.2
Mini Bar 0.2 0.3 0.2 0.3 0.4 0.2 0.3 0.2 0.3
Other 1.1 1.1 1.3 1.5 0.1 0.4 0.1 0.6 1.1
Other Food and Beverage
Meeting Room Rental 1.2% 1.5% 0.8% 1.3% 0.7% 0.9% 0.8% 0.7% 0.8%
Audio/Visual 1.2 1.3 1.6 1.8 1.5 1.5 1.9 1.8 1.0
Service Charges 2.5 2.8 3.6 3.2 3.1 3.1 3.8 3.6 2.5
Golf-Green Fees - - 2.6% - - - 3.2% 3.4% 4.7%
Cart Fees - - 0.6 - - - 0.4 0.4 0.1
Golf-Retail - - 0.8 - - - 1.2 1.1 0.8
Golf-Membership - - 1.4 - - - 6.2 5.6 2.0
Golf-Other - - 0.6 - - - 0.9 1.4 1.3
Spa-Treatments 2.9 3.5 2.0 1.6 2.8 - 1.7 3.0 2.6
Salon - 0.8 0.5 - 0.5 - 0.5 0.7 0.4
Spa-Retail 0.4 0.3 0.2 0.2 0.3 - 0.2 0.4 0.3
Spa-Other 0.1 0.3 0.5 0.3 0.1 - 0.4 0.5 0.3
Transportation/Garage/Parking 2.1 1.2 2.1 2.1 3.0 1.9 2.6 1.7 2.5
Telecommunications 0.2 0.2 0.1 0.1 0.1 0.1 0.1 0.1 0.1
Other 1.3 0.8 2.0 1.2 2.5 1.4 1.8 1.7 2.1
Miscellaneous Income 1.6% 2.4% 3.4% 1.7% 2.9% 2.2% 2.4% 3.5% 3.5 %
Total Revenue 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0%
NOTES: Ratio-to-sales (RTS) based on Total Revenue of only those hotels that reported that line item. Blank cells indicate insufficient data to report.
54
Total U.S. Revenue: Ratio-to-Sales Location Type Class
REVENUE
Rooms
Transient Revenue 45.0% 55.3% 49.8% 71.0% 35.0% 50.4% 38.5% 39.4% 65.1% 75.3% 38.9%
Group Revenue 21.9 15.3 15.2 11.6 17.4 14.1 16.6 21.8 13.9 13.0 13.1
Rooms Other 3.5 4.7 8.2 0.8 2.6 2.7 1.9 2.8 9.0 4.8 9.1
Service Charges 1.2 0.8 4.8 - 0.5 0.7 0.4 1.9 1.7 0.9 -
Food
Venues 4.8% 5.3% 5.3% 7.7% 8.4% 8.9% 7.8% 5.7% 4.1% 5.0% 11.0%
In-Room Dining 1.1 1.0 0.9 0.6 0.9 1.0 1.4 0.8 0.6 0.5 -
Banquet/Catering 9.9 9.5 9.2 6.2 10.5 9.9 10.2 11.5 4.1 4.1 2.1
Mini Bar 0.3 0.3 0.2 - 0.1 0.2 0.3 0.2 0.3 - -
Other 0.1 1.6 2.4 0.4 1.9 0.8 1.2 1.7 1.3 1.1 0.3
Beverage
Venues 3.3% 3.0% 2.7% 4.2% 4.5% 4.8% 5.1% 3.3% 1.9% 2.2% 2.8%
In-Room Dining 0.2 0.2 0.1 0.1 0.2 0.4 0.3 0.1 0.1 0.3 -
Mini Bar 0.3 0.4 0.1 - 0.2 0.1 0.3 0.2 0.2 - -
Other 1.0 0.8 1.7 0.3 1.4 0.5 1.1 1.1 1.5 0.5 -
Meeting Room Rental 0.9% 1.4% 1.2% 1.1% 0.5% 1.3% 0.9% 0.9% 0.9% 0.8% 1.2%
Audio/Visual 1.5 1.6 1.5 0.5 1.2 1.2 1.5 1.6 0.5 0.2 0.3
Service Charges 3.1 2.8 2.7 1.7 3.5 3.0 3.7 3.6 0.8 0.6 0.8
Golf-Green Fees - 4.9% - - 2.8% 6.2% 4.0% 2.8% - - -
Cart Fees - - - - 0.3 1.0 0.4 0.5 - - -
Golf-Retail - - - - 0.8 1.9 1.2 0.8 - - -
Golf-Membership - - - - 2.7 1.5 0.7 3.6 - - -
Golf-Other - 0.7 - - 0.9 0.3 1.3 0.6 - - -
Spa-Treatments 1.7 3.3 - - 2.5 3.0 2.9 1.8 1.1 - -
Salon 0.6 0.7 - - 0.5 0.5 0.6 0.4 - - -
Spa-Retail 0.2 0.4 - - 0.3 0.4 0.3 0.2 0.1 - -
Spa-Other 0.3 0.3 - - 0.4 0.2 0.4 0.4 0.1 - -
Transportation/Garage/Parking 2.7 1.9 1.9 0.8 1.8 1.3 1.6 2.4 2.8 2.5 1.5
Telecommunications 0.2 0.1 0.1 0.1 0.1 0.1 0.2 0.1 0.1 0.0 0.2
Other 1.1 1.2 1.2 2.1 3.5 2.4 2.9 1.6 1.1 1.2 1.1
Miscellaneous Income 2.4% 1.6% 1.6% 1.1% 5.6% 3.2% 3.7% 3.5% 1.5% 1.2% 1.1%
Total Revenue 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0%
NOTES: Ratio-to-sales (RTS) based on Total Revenue of only those hotels that reported that line item. Economy and Midscale Classes combined for isolation purposes. Blank cells indicate insufficient data to report.
55
Total U.S. Dept. Expenses: Ratio-to-Sales Geographic Region
Rooms
Salaries & Wages 10.8% 13.9% 10.6% 11.7% 10.4% 11.9% 10.4% 11.3% 10.8%
Payroll Taxes & Benefits 4.7 7.8 3.6 5.0 2.7 3.0 3.3 3.3 5.5
Reservation System Fees 3.1 1.5 1.7 1.9 1.8 1.4 1.7 1.7 1.2
Travel Agent Commissions 3.2 3.2 3.1 3.0 2.6 2.8 3.0 3.0 3.1
All Other Room Expenses 6.0 6.0 6.9 7.0 6.4 7.3 6.9 6.9 6.1
Food & Beverage
Cost of Food 23.8% 22.8% 23.4% 22.6% 23.3% 23.9% 23.8% 23.8% 23.1%
Cost of Beverage 20.6 20.0 19.3 19.8 19.7 20.9 20.5 20.5 19.2
Salaries & Wages 33.2 40.5 30.7 32.0 27.3 30.4 30.3 30.3 35.1
All Other F&B Expenses 7.4 8.3 7.6 9.2 8.1 8.1 7.3 7.3 8.2
Parking-Salaries & Wages 19.6% 31.0% 24.8% 38.8% - 19.2% 26.1% 26.1% 31.4%
Parking-Payroll Taxes & Benefits 6.0 10.9 7.8 - - 3.0 7.8 7.8 13.9
Parking-Other Expenses 26.6 63.5 35.5 32.3 31.8 53.4 33.5 33.5 32.0
Golf-Salaries & Wages - - 29.2 - - - 33.4 33.4 31.6
Golf-Payroll Taxes & Benefits - - 8.7 - - - 8.0 8.0 9.8
Golf-Cost of Retail - - 7.2 - - - 7.6 7.6 6.6
Golf-Operations - - 10.2 - - - 9.4 9.4 10.8
Golf-Maintenance - - 20.5 - - - - - 13.9
Golf-Other Expenses - - 20.9 - - - 29.2 29.2 22.9
Spa-Salaries & Wages 40.8 45.5 44.8 48.6 44.5 - 42.4 42.4 44.3
Spa-Payroll Taxes & Benefits 21.2 19.8 14.6 16.1 11.0 - 13.3 13.3 14.6
Spa-Cost of Retail 4.5 3.6 4.5 6.2 4.6 - 5.2 5.2 4.9
Spa-Other Expenses 9.9 13.1 14.4 9.8 10.4 14.2 11.6 11.6 14.9
Other-Salaries & Wages 25.4 33.6 28.9 30.3 29.8 27.6 24.6 24.6 19.7
Other-Payroll Taxes & Benefits 12.7 19.1 9.8 14.0 9.0 7.2 8.2 8.2 9.3
All Other Expenses 17.4 14.9 23.7 32.3 29.7 38.9 22.4 22.4 21.6
NOTES: Ratio-to-Sales based on Departmental Revenue of only those hotels that reported that line item. Blank cells indicate insufficient data to report.
56
Total U.S. Dept. Expenses: Ratio-to-Sales Location Type Class
Rooms
Salaries & Wages 11.4% 10.8% 11.6% 12.2% 10.9% 12.0% 11.8% 11.0% 10.9% 12.1% 10.8%
Payroll Taxes & Benefits 5.6 3.6 4.3 3.1 4.3 3.3 5.7 5.0 3.5 3.4 3.3
Reservation System Fees 1.7 1.6 2.1 1.9 1.1 1.6 1.0 2.2 1.4 1.5 1.6
Travel Agent Commissions 3.4 2.7 2.8 2.2 3.1 2.4 3.4 3.0 2.8 2.8 3.8
All Other Room Expenses 6.5 6.0 6.9 7.1 7.1 6.7 7.1 7.0 5.8 6.9 4.1
Food & Beverage
Cost of Food 22.1% 25.0% 23.2% 30.3% 23.0% 27.5% 23.0% 22.2% 29.0% 29.9% 28.5%
Cost of Beverage 19.4 20.6 19.7 25.0 18.9 22.7 19.9 18.6 23.3 24.3 31.1
Salaries & Wages 34.3 31.2 30.8 32.3 31.4 32.8 34.7 31.3 32.0 35.5 35.0
All Other F&B Expenses 7.7 8.3 6.6 9.6 8.3 8.8 8.9 7.2 9.7 10.7 10.8
Parking-Salaries & Wages 27.0% 35.5% 19.0% - 29.4% 45.6% 31.7% 28.5% 21.4% 16.4% -
Parking-Payroll Taxes & Benefits 9.2 14.3 9.0 - 12.0 9.7 13.6 9.9 5.4 4.8 -
Parking-Other Expenses 39.2 38.2 32.1 - 23.2 20.0 38.6 31.3 34.6 17.2 149.4
Golf-Salaries & Wages - 13.1 - - 33.6 31.6 32.6 30.1 - - -
Golf-Payroll Taxes & Benefits - 3.5 - - 9.5 9.8 9.4 8.3 - - -
Golf-Cost of Retail - - - - 7.6 10.5 8.6 6.7 - - -
Golf Operations - - - - 8.7 9.7 14.8 6.8 - - -
Golf Maintenance - - - - 17.3 29.4 19.1 17.7 - - -
Golf-Other Expenses - 8.2 - - 24.8 23.4 28.1 16.8 - - -
Spa-Salaries & Wages 47.8 42.3 - - 43.7 45.0 44.8 43.6 38.3 - -
Spa-Payroll Taxes & Benefits 17.8 15.6 - - 13.6 14.9 15.3 13.1 26.5 - -
Spa-Cost of Retail 5.9 5.2 - - 4.2 4.9 4.8 4.6 3.4 - -
Spa-Other Expenses 15.3 13.7 - - 13.5 11.6 14.1 13.1 12.2 - -
Other-Salaries & Wages 35.8 17.1 - - 22.9 19.3 24.5 25.5 11.4 11.9 -
Other-Payroll Taxes & Benefits 16.5 7.2 2.7 2.7 7.9 7.0 9.7 9.6 6.4 3.7 -
All Other Expenses 14.5 26.0 29.5 29.5 24.1 26.9 18.3 21.6 34.2 42.1 44.5
NOTES: Ratio-to-Sales based on Departmental Revenue of only those hotels that reported that line item. Economy and Midscale Classes combined for isolation purposes. Blank cells indicate insufficient data to report.
57
Total U.S. Undistributed Exp.: Ratio-to-Sales Geographic Region
Administrative & General
Salaries & Wages 2.7% 3.1% 2.9% 3.0% 2.8% 3.4% 3.0% 3.0% 2.6%
Credit Card Commissions 2.3 2.4 2.3 2.5 2.3 2.4 2.3 2.3 2.3
Information & Telecommunications Systems
Salaries & Wages 0.4% 0.6% 0.4% 0.5% 0.5% 0.4% 0.4% 0.4% 0.4%
Marketing
Salaries & Wages 1.7% 1.9% 2.0% 2.1% 1.8% 2.2% 2.2% 2.2% 1.7%
Franchise Royalty Fees 3.8 3.2 3.0 3.6 3.9 4.0 3.4 2.9 2.5
Franchise Advertising Assessment 2.0 1.9 1.7 1.8 2.5 2.2 2.0 1.9 1.4
Loyalty Program Fees 1.4 1.4 1.6 1.9 1.9 2.0 1.8 1.7 1.3
Other Expenses 4.0 3.9 4.2 3.8 3.7 3.9 3.8 3.6 3.5
Utility Costs
Electricity 2.3% 1.8% 2.0% 2.0% 2.4% 2.7% 2.0% 1.8% 1.7%
Gas 0.5 0.3 0.4 0.4 0.5 0.5 0.3 0.4 0.4
Water & Sewer 0.9 0.7 0.9 0.8 0.9 1.0 1.0 0.8 0.8
Other 0.6 0.6 0.3 0.3 0.3 0.5 0.3 0.1 0.1
Property Operations & Maintenance
Salaries & Wages 1.5% 1.7% 1.5% 1.9% 1.5% 1.7% 1.6% 1.6% 1.5%
58
Total U.S. Undistributed Exp.: Ratio-to-Sales Location Type Class
Salaries & Wages 2.8% 3.1% 3.0% 3.6% 2.6% 3.3% 2.8% 2.7% 3.0% 3.1% 3.7%
Credit Card Commissions 2.4 2.4 2.3 2.5 2.2 2.4 2.5 2.2 2.5 2.5 2.2
Salaries & Wages 0.5% 0.4% 0.4% - 0.4% 0.4% 0.5% 0.4% 0.3% 0.5% -
Payroll Taxes & Benefits 0.2 0.2 0.2 - 0.2 0.1 0.2 0.2 0.1 0.2 -
Marketing
Salaries & Wages 2.0% 2.0% 1.8% 1.7% 1.9% 2.0% 2.1% 2.0% 1.7% 1.6% 1.6%
Franchise Royalty Fees 2.7 4.1 3.5 4.8 1.7 3.6 0.8 2.7 4.3 4.8 4.4
Franchise Advertising Assessment 1.6 2.2 2.2 2.5 0.9 2.3 0.5 1.3 2.7 2.6 2.5
Loyalty Program Fees 1.5 1.8 1.7 1.9 1.0 1.8 0.6 1.7 1.7 2.0 0.9
Other Expenses 4.1 3.4 4.0 2.4 3.7 3.0 3.7 4.2 3.3 2.4 3.2
Utility Costs
Electricity 1.6% 2.2% 1.9% 2.6% 1.9% 2.3% 1.6% 1.8% 2.2% 2.2% 2.7%
Gas 0.3 0.4 0.4 0.5 0.4 0.6 0.4 0.4 0.4 0.4 0.5
Water & Sewer 0.7 1.0 0.9 1.1 0.8 0.9 0.6 0.8 0.9 1.0 1.7
Other 0.5 0.2 0.4 0.2 0.1 0.1 0.2 0.3 0.2 0.3 1.0
Salaries & Wages 1.6% 1.6% 1.6% 1.7% 1.6% 1.7% 1.6% 1.6% 1.5% 1.7% 1.9%
59
Total U.S. Selected Fixed Costs: Ratio-to-Sales Geographic Region
Management Fees 2.9% 3.0% 3.0% 3.0% 3.0% 3.11% 3.0% 2.9% 2.9%
SELECTED FIXED COSTS
Taxes
Real Estate Taxes 4.5% 6.9% 3.4% 5.5% 3.0% 5.2% 4.0% 3.0% 2.6%
Personal Property Taxes 0.2 6.6 0.3 0.3 0.3 0.9 0.2 0.2 0.2
Other Taxes 0.2 0.0 0.1 0.1 0.5 0.0 (0.2) 0.1 0.2
Insurance
Building & Contents 0.4% 0.4% 0.7% 0.4% 0.4% 0.4% 0.6% 0.3% 0.7%
Liability 0.3 0.4 0.5 0.4 0.3 0.4 0.4 0.3 0.3
Other 1.0 0.2 0.6 0.1 0.9 0.2 0.2 0.2 0.2
EBITDA 30.7% 22.4% 29.6% 26.3% 33.5% 27.9% 30.6% 29.0% 30.7%
60
Total U.S. Selected Fixed Costs: Ratio-to-Sales Location Type Class
Management Fees 3.0% 3.1% 3.1% 3.2% 2.8% 3.1% 2.8% 2.8% 3.5% 3.2% 2.7%
Taxes
Real Estate Taxes 4.8% 3.7% 3.7% 4.2% 2.5% 2.3% 3.4% 3.6% 4.3% 4.7% 5.2%
Personal Property Taxes 0.4 0.3 0.3 0.2 0.2 0.3 0.3 0.3 0.3 0.3 0.3
Other Taxes 0.1 0.2 0.0 0.1 0.1 0.1 0.2 0.1 0.2 0.0 0.0
Insurance
Building & Contents 0.5% 0.6% 0.6% 0.9% 0.7% 0.8% 0.6% 0.6% 0.6% 0.7% 0.7%
Liability 0.3 0.4 0.4 0.3 0.4 0.3 0.2 0.2 0.2 0.1 0.2
Other 0.3 0.2 0.5 0.2 0.5 0.9 0.5 0.3 0.6 0.7 0.1
EBITDA 27.6% 32.2% 30.6% 28.1% 27.7% 27.5% 23.0% 28.4% 34.2% 32.3% 41.0%
61
Total U.S. Revenue: Per-Available-Room Geographic Region
REVENUE
Rooms
Transient Revenue $38,697 $49,558 $30,083 $26,195 $26,353 $23,320 $23,996 $27,664 $46,641
Group Revenue 14,010 13,332 16,064 12,323 13,079 9,481 13,744 14,866 15,730
Rooms Other 2,690 3,589 2,461 1,832 1,706 835 1,770 2,442 4,825
Service Charges 2,373 1,477 1,173 1,831 - 1,420 1,332 1,011 1,096
Food
Venues $4,396 $3,889 $5,130 $3,107 $3,990 $2,263 $3,565 $5,336 $6,653
In-Room Dining 877 1,293 855 690 551 487 710 879 1,158
Banquet/Catering 7,714 7,874 9,146 6,652 7,306 5,644 8,060 9,252 8,283
Mini Bar 234 510 174 257 165 182 252 225 393
Other 2,087 1,472 1,346 630 325 803 712 440 1,364
Beverage
Venues $2,695 $2,585 $3,016 $1,945 $2,290 $1,653 $2,337 $3,453 $3,644
In-Room Dining 136 235 159 147 113 104 122 162 214
Banquet/Catering 1,273 1,300 1,468 1,110 1,106 898 1,245 1,395 1,411
Mini Bar 252 445 228 257 232 183 271 313 399
Other 899 1,046 1,165 1,043 78 226 750 460 1,193
Meeting Room Rental $1,031 $1,370 $605 $769 $466 $453 $516 $550 $784
Audio/Visual 1,058 1,246 1,337 1,133 1,103 778 1,332 1,453 1,086
Service Charges 2,122 2,588 2,898 2,011 2,100 1,610 2,535 2,946 2,640
Golf-Green Fees - - $3,795 - - - $4,059 $2,685 $9,036
Cart Fees - - 797 - - - 568 357 207
Golf-Retail - - 1,174 - - - 1,568 902 1,522
Golf-Membership - - 2,054 - - - 6,652 4,370 4,334
Golf-Other - - 875 - - - 1,094 1,070 2,382
Spa-Treatments 5,398 6,585 2,653 1,563 2,939 - 1,839 3,723 4,390
Salon - 1,336 762 - 576 - 609 1,056 765
Spa-Retail 866 512 261 211 367 - 163 473 609
Spa-Other 256 478 619 275 135 - 409 685 521
Transportation/Garage/Parking 1,701 1,007 1,540 1,239 1,674 921 1,722 1,311 2,539
Telecommunications 136 140 86 65 45 45 77 71 98
Other 908 607 1,354 548 1,269 542 929 1,085 1,983
Miscellaneous Income $1,153 $1,864 $2,240 $835 $1,472 $915 $1,230 $2,220 $3,175
Total Revenue $69,866 $76,541 $64,336 $49,088 $50,109 $40,341 $50,493 $61,651 $89,136
NOTES: Per-Available-Room (PAR) based on total number of rooms of only those hotels that reported that line item. Blank cells indicate insufficient data to report.
62
Total U.S. Revenue: Per-Available-Room Location Type Class
REVENUE
Rooms
Transient Revenue $37,972 $29,583 $27,683 $24,593 $40,257 $27,452 $60,808 $32,186 $30,066 $26,580 $9,089
Group Revenue 18,521 8,487 8,607 4,213 20,099 8,088 26,220 17,821 6,454 4,692 3,053
Rooms Other 2,882 2,438 4,534 297 2,865 1,417 2,921 2,286 4,174 1,704 2,128
Service Charges 1,229 843 3,533 - 715 878 785 1,701 692 575 -
Food
Venues $4,173 $3,049 $3,072 $3,355 $9,673 $6,214 $12,440 $4,695 $1,915 $1,995 $2,453
In-Room Dining 980 716 545 359 1,155 870 2,293 676 311 195 -
Banquet/Catering 8,580 5,776 5,524 2,686 12,467 6,939 16,126 9,422 1,943 1,658 638
Mini Bar 318 378 147 - 203 214 443 207 186 - -
Other 891 875 1,316 215 2,007 480 1,668 1,397 654 484 121
Beverage
Venues $2,865 $1,747 $1,567 $1,971 $5,173 $3,437 $8,075 $2,724 $897 $898 $610
In-Room Dining 168 123 77 87 239 389 419 116 51 130 -
Banquet/Catering 1,257 987 589 556 2,223 1,655 2,980 1,264 290 226 68
Mini Bar 323 461 76 - 285 162 482 187 128 - -
Other 824 519 1,128 94 1,676 332 1,504 950 771 245 -
Meeting Room Rental $786 $785 $690 $474 $549 $812 $1,421 $768 $397 $314 $364
Audio/Visual 1,316 1,001 914 221 1,525 951 2,318 1,338 260 96 76
Service Charges 2,724 1,637 1,588 815 4,256 2,189 5,795 2,981 353 260 188
Golf-Green Fees - $12,606 - - $3,934 $7,067 $7,749 $3,375 - - -
Cart Fees - - - - 464 1,255 696 600 - - -
Golf-Retail - - - - 1,055 2,307 2,314 934 - - -
Golf-Membership - - - - 3,684 1,740 1,736 4,282 - - -
Golf-Other - 1,771 - - 1,314 402 2,446 749 - - -
Spa-Treatments 2,065 6,845 - - 3,552 4,028 5,691 1,941 866 - -
Salon 748 1,698 - - 712 727 1,285 471 - - -
Spa-Retail 227 983 - - 393 539 680 226 48 - -
Spa-Other 335 616 - - 594 253 684 426 47 - -
Transportation/Garage/Parking 2,044 1,347 950 459 2,129 1,018 2,619 1,858 1,471 1,107 391
Telecommunications 141 50 56 20 99 36 246 118 28 17 31
Other 867 539 577 627 4,037 1,118 4,602 1,256 534 428 220
Miscellaneous Income $1,979 $721 $823 $325 $6,183 $1,512 $5,729 $2,826 $701 $439 $221
Total Revenue $79,723 $44,322 $49,601 $29,684 $108,591 $45,954 $155,949 $79,585 $45,985 $35,420 $20,371
NOTES: Per-Available-Room (PAR) based on total number of rooms of only those hotels that reported that line item. Economy and Midscale Classes combined for isolation purposes. Blank cells indicate insufficient data to report.
63
Total U.S. Dept. Expenses: Per-Available-Room Geographic Region
Rooms
Salaries & Wages $5,703 $8,493 $4,632 $4,152 $3,643 $3,568 $3,630 $4,506 $6,807
Payroll Taxes & Benefits 2,485 4,740 1,564 1,788 941 896 976 1,304 3,473
Reservation System Fees 1,446 770 647 617 574 395 469 596 765
Travel Agent Commissions 1,768 2,071 1,451 1,161 976 866 1,053 1,256 2,072
All Other Room Expenses 3,168 3,700 3,007 2,484 2,268 2,204 2,440 2,760 3,877
Food & Beverage
Cost of Food $2,898 $2,522 $3,158 $2,130 $2,514 $1,947 $2,527 $3,440 $3,587
Cost of Beverage 805 758 860 604 653 530 686 1,017 1,057
Salaries & Wages 7,054 8,570 7,487 5,524 5,152 3,917 5,644 7,461 9,377
Payroll Taxes & Benefits 3,143 4,844 2,872 2,469 1,709 1,175 1,783 2,376 4,451
All Other F&B Expenses 1,417 1,538 1,612 1,449 1,304 979 1,353 1,655 2,017
Parking-Salaries & Wages $594 $427 $445 $791 - $281 $520 $605 $1,010
Parking-Payroll Taxes & Benefits 181 162 138 - - 32 119 189 453
Parking-Other Expenses 538 771 529 415 545 466 500 571 841
Golf-Salaries & Wages - - 1,720 - - - 4,116 2,697 3,853
Golf-Payroll Taxes & Benefits - - 545 - - - 991 646 1,193
Golf-Cost of Retail - - 482 - - - 1,149 621 1,189
Golf Operations - - 705 - - - 1,258 987 1,255
Golf Maintenance - - 1,408 - - - - - 1,820
Golf-Other Expenses - - 1,336 - - - 2,035 2,442 2,878
Spa-Salaries & Wages 2,282 2,263 1,525 891 1,143 - 1,267 2,405 2,492
Spa-Payroll Taxes & Benefits 1,187 986 502 296 282 - 374 769 883
Spa-Cost of Retail 291 293 164 163 183 - 129 286 303
Spa-Other Expenses - 4,807 6,884 - - - 3,250 2,785 3,790
Other-Salaries & Wages 904 923 1,588 763 1,679 384 1,192 2,239 1,614
Other-Payroll Taxes & Benefits 461 501 574 330 521 97 365 766 780
All Other Expenses 354 222 732 349 727 398 387 808 1,097
NOTES: Per-Available-Room (PAR) based on total number of rooms of only those hotels that reported each line item, respectively. Blank cells indicate insufficient data to report.
64
Total U.S. Dept. Expenses: Per-Available-Room Location Type Class
Rooms
Salaries & Wages $6,564 $3,677 $4,407 $3,021 $6,771 $3,896 $10,620 $5,734 $4,305 $3,874 $2,075
Payroll Taxes & Benefits 3,218 1,217 1,639 775 2,753 1,064 5,115 2,626 1,377 1,083 641
Reservation System Fees 893 525 737 447 704 468 976 1,063 555 486 299
Travel Agent Commissions 2,002 986 1,120 545 1,967 784 3,108 1,606 1,103 912 756
All Other Room Expenses 3,755 2,045 2,625 1,739 4,437 2,169 6,412 3,645 2,278 2,215 791
Food & Beverage
Cost of Food $2,812 $2,115 $1,959 $1,851 $5,223 $3,224 $7,073 $3,252 $1,066 $977 $1,132
Cost of Beverage 819 567 451 572 1,483 974 2,349 788 280 241 383
Salaries & Wages 7,709 4,753 4,548 3,167 12,049 6,987 18,252 7,765 1,868 2,006 607
Payroll Taxes & Benefits 3,723 1,740 1,908 681 4,626 1,996 7,877 3,314 639 468 212
All Other F&B Expenses 1,615 1,078 859 713 3,002 1,491 4,575 1,678 525 392 601
Parking-Salaries & Wages $707 $922 $238 - $632 $555 $1,043 $566 $443 $273 -
Parking-Payroll Taxes & Benefits 244 383 108 - 265 118 444 198 117 78 -
Parking-Other Expenses 855 417 288 27 545 121 1,133 609 649 293 138
Golf-Salaries & Wages - 2,267 - - 2,450 2,348 3,478 1,933 - - -
Golf-Payroll Taxes & Benefits - 608 - - 708 730 999 529 - - -
Golf-Cost of Retail - - - - 709 880 1,036 676 - - -
Golf Operations - - - - 836 943 1,534 703 - - -
Golf Maintenance - - - - 1,670 3,045 2,378 1,833 - - -
Golf-Other Expenses - 1,414 - - 1,927 1,357 3,174 1,077 - - -
Spa-Salaries & Wages 1,271 2,631 - - 1,979 2,755 3,324 951 287 - -
Spa-Payroll Taxes & Benefits 472 990 - - 642 946 1,151 296 198 - -
Spa-Cost of Retail 169 520 - - 207 272 377 127 27 - -
Spa-Other Expenses 2,771 2,315 - - 5,717 1,753 5,926 2,331 232 - -
Other-Salaries & Wages 869 868 619 - 2,759 2,489 2,729 986 329 405 -
Other-Payroll Taxes & Benefits 407 380 247 365 1,011 913 1,088 381 151 124 -
All Other Expenses 320 350 337 348 2,216 761 2,058 619 364 305 141
65
Total U.S. Undistributed Exp.: Per-Available-Room Geographic Region
Salaries & Wages $1,966 $2,489 $1,935 $1,492 $1,404 $1,345 $1,524 $1,864 $2,364
Payroll Taxes & Benefits 608 908 591 465 429 393 448 546 803
Credit Card Commissions 1,714 1,891 1,552 1,213 1,142 948 1,213 1,496 2,137
All Other Expenses 1,235 1,263 1,201 821 1,005 783 924 1,050 1,334
Salaries & Wages $393 $623 $396 $352 $393 $214 $321 $362 $527
All Other Expenses 732 771 789 685 663 621 686 799 873
Marketing
Salaries & Wages $1,409 $1,661 $1,565 $1,178 $1,076 $964 $1,280 $1,555 $1,724
Franchise Royalty Fees 2,054 1,953 1,693 1,559 1,728 1,540 1,374 1,580 2,045
Franchise Advertising Assessment 1,174 1,104 903 796 1,001 826 783 974 1,119
Loyalty Program Fees 731 766 719 707 771 693 609 716 962
Other Expenses 2,883 3,110 2,830 1,916 1,903 1,543 1,964 2,267 3,217
Utility Costs
Electricity $1,530 $1,254 $1,172 $893 $937 $988 $920 $1,028 $1,522
Gas 319 235 218 197 183 175 152 253 313
Water & Sewer 566 503 546 389 365 351 466 444 677
Other 576 623 242 169 158 214 174 113 127
Salaries & Wages $1,111 $1,351 $997 $924 $759 $643 $797 $1,017 $1,411
All Other Expenses 1,362 1,510 1,416 1,005 1,058 912 1,196 1,200 1,565
66
Total U.S. Undistributed Exp.: Per-Available-Room Location Type Class
Salaries & Wages $2,316 $1,344 $1,518 $1,021 $2,883 $1,552 $4,440 $2,220 $1,374 $1,089 $728
Payroll Taxes & Benefits 769 417 488 268 905 442 1,503 722 388 300 233
Credit Card Commissions 1,962 1,061 1,186 712 2,442 1,137 3,849 1,839 1,146 866 424
All Other Expenses 1,211 867 938 782 1,709 1,026 2,382 1,119 969 893 604
Salaries & Wages $434 $373 $299 - $507 $464 $721 $373 $184 $253 -
Payroll Taxes & Benefits 228 145 136 - 217 191 336 178 84 105 -
All Other Expenses 899 563 640 498 1,148 655 1,659 971 524 503 233
Marketing
Salaries & Wages $1,668 $1,048 $1,039 $585 $2,228 $1,097 $3,269 $1,650 $803 $568 $406
Franchise Royalty Fees 1,872 1,682 1,599 1,276 1,679 1,395 1,138 1,929 1,882 1,587 885
Franchise Advertising Assessment 1,078 892 957 644 941 922 825 903 1,161 884 503
Loyalty Program Fees 926 696 710 484 776 550 814 1,118 769 673 197
Other Expenses 3,360 1,536 2,023 705 4,164 1,410 5,808 3,471 1,497 827 641
Utility Costs
Electricity $1,268 $918 $878 $731 $2,048 $969 $2,544 $1,421 $1,013 $784 $547
Gas 240 176 168 149 435 248 563 288 187 151 92
Water & Sewer 572 415 429 314 832 393 1,013 614 425 364 347
Other 399 107 222 100 118 85 422 265 115 123 213
Salaries & Wages $1,294 $688 $800 $504 $1,775 $804 $2,459 $1,327 $665 $574 $380
All Other Expenses 1,378 1,055 1,022 885 2,237 1,135 2,944 1,500 994 862 648
67
Total U.S. Selected Fixed Costs: Per-Available-Room Geographic Region
Management Fees $2,136 $2,254 $2,036 $1,601 $1,606 $1,293 $1,562 $1,897 $2,730
Taxes
Real Estate Taxes $3,369 $5,639 $2,253 $3,220 $1,280 $2,068 $2,104 $1,936 $2,688
Personal Property Taxes 148 5,212 199 173 120 372 132 149 201
Other Taxes 133 43 72 31 244 (13) (95) 43 240
Insurance
Building & Contents $228 $329 $433 $186 $165 $160 $281 $194 $674
Liability 225 298 277 192 126 142 198 203 306
Other 585 106 361 33 355 78 73 104 160
EBITDA $21,477 $17,149 $19,037 $12,932 $16,792 $11,272 $15,440 $17,857 $27,377
Reserve for Replacement $3,218 $3,060 $3,172 $2,067 $2,580 $1,765 $2,391 $2,832 $4,181
68
Total U.S. Selected Fixed Costs: Per-Available-Room Location Type Class
Management Fees $2,364 $1,489 $1,615 $967 $3,109 $1,447 $4,388 $2,230 $1,612 $1,111 $592
Taxes
Real Estate Taxes $3,879 $1,675 $1,826 $1,112 $2,964 $1,119 $5,692 $3,007 $2,091 $1,838 $1,091
Personal Property Taxes 285 167 141 64 204 200 427 251 148 110 56
Other Taxes 82 71 24 12 127 33 272 63 100 21 9
Insurance
Building & Contents $401 $216 $273 $207 $846 $368 $1,055 $459 $275 $282 $140
Liability 278 152 206 73 493 151 592 317 214 136 62
Other 212 74 171 32 634 382 936 243 299 252 12
EBITDA $22,014 $14,251 $15,196 $8,332 $30,057 $12,625 $35,871 $22,583 $15,749 $11,439 $8,349
Reserve for Replacement $3,338 $2,202 $2,453 $1,416 $4,988 $2,307 $6,082 $3,422 $1,994 $1,521 $799
69
Total U.S. Revenue: Per-Occupied-Room Night Geographic Region
REVENUE
Rooms
Transient Revenue $142.90 $172.13 $109.97 $101.19 $99.40 $92.73 $94.20 $106.35 $158.92
Group Revenue 51.76 46.22 58.91 47.69 49.50 37.86 54.04 57.24 53.60
Rooms Other 9.92 12.43 8.98 7.07 6.43 3.33 6.92 9.37 16.38
Service Charges 8.17 5.20 4.30 7.05 - 5.69 5.28 3.93 3.76
Food
Venues $16.25 $13.61 $18.82 $12.18 $15.00 $9.13 $14.07 $20.68 $22.60
In-Room Dining 3.20 4.56 3.15 2.68 2.10 1.97 2.80 3.44 3.97
Mini Bar 0.83 1.76 0.66 0.96 0.65 0.71 1.00 0.87 1.36
Other 7.72 5.05 4.93 2.40 1.20 3.20 2.80 1.68 4.59
Beverage
Venues $9.98 $9.05 $11.08 $7.64 $8.61 $6.70 $9.24 $13.43 $12.40
In-Room Dining 0.49 0.82 0.59 0.57 0.43 0.42 0.48 0.64 0.74
Mini Bar 0.92 1.52 0.85 0.95 0.91 0.70 1.10 1.24 1.36
Other 3.38 3.66 4.33 3.97 0.31 0.91 3.00 1.75 3.94
Meeting Room Rental $3.79 $4.80 $2.22 $3.01 $1.74 $1.82 $2.03 $2.12 $2.67
Audio/Visual 3.89 4.38 4.91 4.45 4.08 3.14 5.25 5.62 3.71
Service Charges 7.79 9.03 10.66 7.88 7.87 6.49 9.98 11.39 8.99
Golf-Green Fees - - $15.56 - - - $17.70 $11.73 $35.95
Cart Fees - - 3.24 - - - 2.52 1.61 0.81
Golf-Retail - - 4.69 - - - 6.84 3.94 5.66
Golf-Membership - - 8.54 - - - 29.70 17.38 16.58
Golf-Other - - 3.53 - - - 4.77 4.67 9.21
Spa-Treatments 20.67 23.87 10.25 5.92 10.92 - 7.64 15.55 15.93
Salon - 4.84 2.99 - 2.14 - 2.54 4.34 2.86
Spa-Retail 3.73 1.81 1.01 0.80 1.36 - 0.66 2.00 2.28
Spa-Other 0.96 1.66 2.36 1.02 0.50 - 1.68 2.88 1.84
Transportation/Garage/Parking 6.28 3.58 5.64 4.73 6.33 3.64 6.74 4.98 8.61
Telecommunications 0.50 0.50 0.31 0.25 0.17 0.18 0.30 0.27 0.33
Other 3.39 2.14 4.98 2.13 4.79 2.14 3.65 4.14 6.80
Miscellaneous Income $4.28 $6.57 $8.22 $3.26 $5.54 $3.63 $4.85 $8.50 $10.80
Total Revenue $261.28 $270.99 $236.18 $190.39 $188.55 $159.18 $198.05 $235.16 $304.44
NOTES: Per-Occupied-Room night (POR) based on total number of rooms of only those hotels that reported that line item. Blank cells indicate insufficient data to report.
70
Total U.S. Revenue: Per-Occupied-Room Night Location Type Class
REVENUE
Rooms
Transient Revenue $136.17 $111.41 $97.03 $97.50 $148.34 $111.99 $225.67 $117.37 $109.10 $100.14 $33.56
Group Revenue 66.44 32.11 30.18 16.78 74.14 33.25 97.32 65.00 23.49 17.69 11.54
Rooms Other 10.32 9.16 15.87 1.19 10.52 5.78 10.77 8.33 15.12 6.40 7.75
Service Charges 4.51 2.99 12.28 - 2.72 3.96 2.91 6.28 2.40 2.18 -
Food
Venues $15.01 $11.59 $10.76 $13.83 $35.73 $26.01 $46.32 $17.18 $7.00 $7.57 $9.16
In-Room Dining 3.55 2.72 1.91 1.55 4.35 3.73 8.50 2.48 1.15 0.74 -
Mini Bar 1.15 1.36 0.51 - 0.80 0.95 1.64 0.75 0.70 - -
Other 3.14 3.26 4.50 0.88 7.48 2.02 6.41 5.04 2.35 1.73 0.43
Beverage
Venues $10.31 $6.67 $5.51 $8.15 $19.10 $14.40 $30.07 $9.97 $3.29 $3.45 $2.37
In-Room Dining 0.61 0.47 0.27 0.38 0.91 1.68 1.56 0.43 0.19 0.48 -
Mini Bar 1.16 1.68 0.25 - 1.09 0.70 1.78 0.67 0.44 - -
Other 2.97 1.97 3.78 0.38 6.11 1.39 5.54 3.43 2.86 0.88 -
Meeting Room Rental $2.83 $2.99 $2.41 $1.90 $2.03 $3.36 $5.26 $2.81 $1.46 $1.18 $1.27
Audio/Visual 4.75 3.80 3.19 0.89 5.67 3.99 8.63 4.88 0.95 0.37 0.34
Service Charges 9.79 6.23 5.56 3.27 15.83 8.97 21.49 10.89 1.30 0.97 0.77
Golf-Green Fees - $48.82 - - $16.16 $33.65 $33.15 $13.92 - - -
Cart Fees - - - - 1.88 6.32 2.99 2.49 - - -
Golf-Retail - - - - 4.20 10.88 9.64 3.76 - - -
Golf-Membership - - - - 15.05 8.16 7.14 18.22 - - -
Golf-Other - 6.86 - - 5.29 1.92 10.41 3.02 - - -
Spa-Treatments 7.68 24.97 - - 13.87 17.86 22.59 7.28 3.32 - -
Salon 2.69 6.24 - - 2.85 3.27 5.13 1.81 - - -
Spa-Retail 0.86 3.67 - - 1.55 2.36 2.72 0.85 0.19 - -
Spa-Other 1.22 2.24 - - 2.28 1.09 2.71 1.55 0.18 - -
Transportation/Garage/Parking 7.45 4.97 3.32 2.03 7.87 4.02 9.95 6.75 5.25 4.01 1.47
Telecommunications 0.51 0.19 0.20 0.08 0.37 0.14 0.91 0.43 0.10 0.06 0.12
Other 3.11 2.02 2.04 2.50 15.13 4.57 17.24 4.64 1.92 1.61 0.83
Miscellaneous Income $7.11 $2.72 $2.90 $1.30 $22.82 $6.15 $21.33 $10.33 $2.54 $1.65 $0.84
Total Revenue $286.51 $166.54 $174.93 $118.04 $401.93 $187.31 $582.99 $291.90 $166.48 $133.19 $76.77
NOTES: Per-Occupied-Room night (POR) based on total number of rooms of only those hotels that reported that line item. Economy and Midscale Classes combined for isolation purposes. Blank cells indicate insufficient data to report.
71
Total U.S. Dept. Expenses: Per-Occupied-Room Night Geographic Region
Rooms
Salaries & Wages $21.29 $30.01 $16.93 $16.16 $13.71 $14.10 $14.21 $17.23 $23.21
Reservation System Fees 5.52 2.83 2.39 2.39 2.17 1.56 1.86 2.26 2.62
All Other Room Expenses 11.76 13.06 10.97 9.67 8.51 8.70 9.55 10.54 13.24
Food & Beverage
Cost of Food $10.72 $8.89 $11.60 $8.28 $9.45 $7.80 $9.94 $13.30 $12.22
Cost of Beverage 2.97 2.68 3.17 2.35 2.45 2.13 2.71 3.94 3.61
Salaries & Wages 25.99 30.04 27.44 21.59 19.61 15.87 22.17 29.03 31.94
All Other F&B Expenses 5.26 5.40 5.93 5.62 4.93 3.90 5.31 6.39 6.88
Parking-Salaries & Wages $2.36 $1.73 $1.67 $2.90 - $1.08 $1.97 $2.28 $3.41
Parking-Payroll Taxes & Benefits 0.73 0.65 0.52 - - 0.12 0.46 0.72 1.53
Parking-Other Expenses 2.00 2.95 2.00 1.67 2.14 1.82 2.00 2.26 2.87
Golf-Salaries & Wages - - 6.89 - - - 16.79 11.26 15.32
Golf-Payroll Taxes & Benefits - - 2.22 - - - 4.04 2.70 4.74
Golf-Cost of Retail - - 1.94 - - - 4.69 2.70 4.69
Golf Operations - - 2.82 - - - 5.18 4.42 4.95
Golf Maintenance - - 5.71 - - - - - 7.42
Golf-Other Expenses - - 5.49 - - - 8.23 9.97 11.49
Spa-Salaries & Wages 8.37 7.86 5.78 3.26 4.24 - 4.97 9.99 9.03
Spa-Payroll Taxes & Benefits 4.35 3.43 1.90 1.08 1.05 - 1.46 3.19 3.26
Spa-Cost of Retail 1.13 1.04 0.63 0.62 0.67 - 0.52 1.20 1.12
Spa-Other Expenses - 18.71 27.58 - - - 14.53 10.81 13.39
Other-Salaries & Wages 3.21 3.12 5.85 3.02 6.25 1.58 4.70 8.88 5.55
Other-Payroll Taxes & Benefits 1.64 1.68 2.12 1.32 1.94 0.40 1.44 3.04 2.69
72
Total U.S. Dept. Expenses: Per-Occupied-Room Night Location Type Class
Rooms
Salaries & Wages $23.61 $13.83 $15.54 $12.05 $24.97 $15.86 $39.43 $20.99 $15.58 $14.63 $7.83
Reservation System Fees 3.25 1.98 2.62 1.80 2.63 1.92 3.68 3.96 2.01 1.84 1.17
All Other Room Expenses 13.51 7.68 9.26 6.92 16.34 8.81 23.81 13.33 8.24 8.34 2.99
Food & Beverage
Cost of Food $10.12 $8.02 $6.85 $7.53 $19.30 $13.28 $26.43 $11.92 $3.89 $3.68 $4.09
Cost of Beverage 2.95 2.16 1.58 2.32 5.48 4.02 8.78 2.89 1.03 0.92 1.33
Salaries & Wages 27.77 18.19 15.92 12.95 44.38 28.98 67.84 28.40 6.85 7.56 2.30
All Other F&B Expenses 5.81 4.08 3.00 2.82 11.12 6.14 17.11 6.15 1.92 1.48 2.15
Parking-Salaries & Wages $2.53 $3.43 $0.87 - $2.34 $2.59 $3.90 $2.05 $1.60 $1.09 -
Parking-Payroll Taxes & Benefits 0.88 1.44 0.39 - 0.98 0.57 1.67 0.72 0.43 0.30 -
Parking-Other Expenses 3.16 1.64 1.06 0.11 2.02 0.55 4.31 2.22 2.38 1.02 0.58
Golf-Salaries & Wages - 8.65 - - 9.78 10.80 14.25 7.74 - - -
Golf-Payroll Taxes & Benefits - 2.32 - - 2.84 3.36 4.09 2.11 - - -
Golf-Cost of Retail - - - - 2.88 4.02 4.25 2.80 - - -
Golf Operations - - - - 3.36 4.60 6.46 2.87 - - -
Golf Maintenance - - - - 6.73 15.34 10.95 7.45 - - -
Golf-Other Expenses - 5.39 - - 7.72 6.14 12.84 4.32 - - -
Spa-Salaries & Wages 4.67 9.82 - - 7.55 11.94 13.01 3.51 1.08 - -
Spa-Payroll Taxes & Benefits 1.73 3.70 - - 2.47 4.13 4.50 1.10 0.75 - -
Spa-Cost of Retail 0.64 1.90 - - 0.81 1.20 1.50 0.48 0.10 - -
Spa-Other Expenses 10.14 8.50 - - 22.59 6.80 22.63 9.12 0.84 - -
Other-Salaries & Wages 3.09 3.35 2.18 - 10.41 10.83 10.10 3.61 1.17 1.42 -
Other-Payroll Taxes & Benefits 1.45 1.47 0.87 1.69 3.82 3.97 4.02 1.40 0.54 0.43 -
73
Total U.S. Undistributed Exp.: Per-Occupied-Room Night Geographic Region
Salaries & Wages $7.34 $8.82 $7.07 $5.80 $5.28 $5.31 $5.97 $7.13 $8.06
Credit Card Commissions 6.35 6.70 5.67 4.71 4.28 3.72 4.75 5.70 7.29
Salaries & Wages $1.41 $2.12 $1.46 $1.36 $1.52 $0.87 $1.25 $1.43 $1.78
Marketing
Salaries & Wages $5.15 $5.77 $5.71 $4.56 $4.05 $3.82 $5.00 $5.97 $5.87
Franchise Royalty Fees 7.77 7.07 6.24 6.06 6.63 6.04 5.45 6.01 6.99
Franchise Advertising Assessment 4.52 4.07 3.35 3.15 3.84 3.28 3.14 3.69 3.83
Loyalty Program Fees 2.82 2.80 2.63 2.79 2.94 2.75 2.43 2.70 3.25
Other Expenses 10.75 10.99 10.37 7.48 7.19 6.12 7.72 8.68 10.97
Utility Costs
Electricity $5.75 $4.47 $4.28 $3.46 $3.50 $3.87 $3.62 $3.90 $5.19
Gas 1.20 0.84 0.79 0.76 0.69 0.69 0.60 0.96 1.07
Water & Sewer 2.12 1.80 1.99 1.51 1.36 1.37 1.84 1.68 2.31
Other 2.09 2.13 0.88 0.64 0.59 0.84 0.67 0.42 0.42
Salaries & Wages $4.14 $4.79 $3.64 $3.60 $2.84 $2.54 $3.12 $3.88 $4.81
74
Total U.S. Undistributed Exp.: Per-Occupied-Room Night Location Type Class
Salaries & Wages $8.34 $5.05 $5.35 $4.06 $10.63 $6.31 $16.52 $8.13 $4.97 $4.11 $2.75
Credit Card Commissions 7.05 3.98 4.18 2.82 9.01 4.58 14.32 6.72 4.14 3.25 1.60
Information & Telecommunication Systems
Salaries & Wages $1.56 $1.41 $1.04 - $1.89 $2.01 $2.67 $1.36 $0.66 $0.92 -
Payroll Taxes & Benefits 0.82 0.55 0.47 - 0.81 0.83 1.24 0.65 0.30 0.39 -
Marketing
Salaries & Wages $6.00 $3.92 $3.63 $2.35 $8.22 $4.46 $12.15 $6.04 $2.89 $2.14 $1.51
Franchise Royalty Fees 6.82 6.37 5.73 5.08 6.26 5.68 4.15 7.15 6.79 6.04 3.74
Franchise Advertising Assessment 3.97 3.40 3.43 2.60 3.48 3.76 3.01 3.39 4.20 3.37 2.14
Loyalty Program Fees 3.40 2.64 2.53 1.94 2.74 2.26 2.86 4.20 2.78 2.55 0.80
Other Expenses 12.09 5.80 7.14 2.81 15.35 5.79 21.58 12.69 5.42 3.12 2.45
Utility Costs
Electricity $4.56 $3.44 $3.09 $2.90 $7.56 $3.93 $9.56 $5.20 $3.64 $2.95 $2.06
Gas 0.86 0.66 0.59 0.59 1.60 1.01 2.12 1.05 0.67 0.57 0.35
Water & Sewer 2.06 1.55 1.51 1.24 3.06 1.59 3.80 2.24 1.53 1.36 1.31
Other 1.43 0.39 0.76 0.40 0.42 0.33 1.55 0.96 0.41 0.45 0.70
Salaries & Wages $4.65 $2.59 $2.82 $2.00 $6.54 $3.27 $9.15 $4.85 $2.41 $2.16 $1.43
Payroll Taxes & Benefts 2.16 0.89 1.10 0.55 2.74 0.95 4.10 2.14 0.78 0.64 0.45
75
Total U.S. Selected Fixed Costs: Per-Occupied-Room Night Geographic Region
Management Fees $7.88 $7.94 $7.50 $6.20 $6.05 $5.10 $6.15 $7.26 $9.32
Taxes
Real Estate Taxes $12.70 $19.65 $8.24 $12.41 $4.82 $8.05 $8.28 $7.39 $9.01
Personal Property Taxes 0.52 16.33 0.72 0.67 0.44 1.43 0.51 0.56 0.67
Other Taxes 0.49 0.15 0.27 0.12 0.91 (0.05) (0.38) 0.16 0.81
Insurance
Building & Contents $0.86 $1.17 $1.57 $0.72 $0.61 $0.62 $1.10 $0.74 $2.26
Liability 0.83 1.05 1.01 0.74 0.47 0.56 0.78 0.77 1.03
Other 2.35 0.37 1.34 0.13 1.35 0.31 0.29 0.39 0.55
EBITDA $80.32 $60.71 $69.88 $50.16 $63.19 $44.48 $60.56 $68.11 $93.50
76
Total U.S. Selected Fixed Costs: Per-Occupied-Room Night Location Type Class
Management Fees $8.50 $5.60 $5.69 $3.86 $11.53 $5.88 $16.43 $8.17 $5.83 $4.17 $2.31
Taxes
Real Estate Taxes $13.93 $6.28 $6.40 $4.52 $10.80 $4.57 $21.21 $10.93 $7.47 $6.74 $4.20
Personal Property Taxes 1.02 0.59 0.48 0.24 0.77 0.80 1.62 0.91 0.53 0.40 0.19
Other Taxes 0.29 0.27 0.09 0.05 0.47 0.14 0.97 0.23 0.36 0.08 0.04
Insurance
Building & Contents $1.44 $0.81 $0.96 $0.83 $3.05 $1.49 $3.90 $1.66 $0.98 $1.03 $0.53
Liability 1.00 0.57 0.72 0.29 1.81 0.61 2.15 1.15 0.76 0.49 0.24
Other 0.76 0.28 0.61 0.13 2.41 1.58 3.47 0.89 1.07 0.93 0.05
EBITDA $79.12 $53.55 $53.59 $33.13 $111.25 $51.46 $134.10 $82.83 $57.01 $43.01 $31.46
77
Total U.S. Labor Summary Total U.S. Full-Service Limited-Service
Ratio- Per-Available- Per-Occupied- Ratio- Per-Available- Per-Occupied- Ratio- Per-Available- Per-Occupied-
to-Sales Room Room Night to-Sales Room Room Night to-Sales Room Room Night
Rooms
Salaries & Wages 11.2% $5,176 $19.05 11.2% $6,022 $22.24 11.2% $3,468 $12.68
Taxes & Benefits 4.6 2,146 7.90 5.0 2,672 9.87 3.5 1,088 3.98
Total Rooms Labor 15.8 7,221 26.60 16.1 8,444 31.25 14.9 4,824 17.62
Food & Beverage

Salaries & Wages 32.6% $7,389 $27.16 32.5% $8,004 $29.54 - - -
Taxes & Benefits 13.8 3,136 11.55 13.8 3,395 12.54 - - -
Total F&B Labor 46.2 9,906 36.47 46.2 10,780 39.87 - - -

Salaries & Wages 37.5% $2,213 $8.13 37.6% $2,243 $8.24 34.6% $397 $1.40
Taxes & Benefits 13.4 814 3.00 13.4 822 3.03 13.8 145 0.52
Total Other Department Labor 50.0 3,026 11.15 50.1 3,075 11.34 46.5 556 1.96

Salaries & Wages 2.9% $1,915 $7.05 2.8% $2,367 $8.74 3.1% $1,001 $3.66
Taxes & Benefits 0.9 615 2.26 0.9 771 2.85 0.9 301 1.10
Total A&G Labor 3.8 2,483 9.15 3.8 3,073 11.37 3.9 1,322 4.83

Salaries & Wages 0.4% $430 $1.57 0.4% $435 $1.59 0.4% $259 $0.90
Taxes & Benefits 0.2 204 0.74 0.2 206 0.75 0.2 131 0.45
Total IT Labor 0.6 626 2.28 0.6 634 2.32 0.6 389 1.37
Marketing
Salaries & Wages 2.0% $1,480 $5.42 2.0% $1,751 $6.46 1.4% $577 $2.06
Taxes & Benefits 0.6 479 1.76 0.6 567 2.09 0.4 176 0.63
Total Marketing Labor 2.6 1,881 6.90 2.7 2,262 8.36 1.9 758 2.72

Salaries & Wages 1.6% $1,060 $3.90 1.6% $1,337 $4.94 1.6% $521 $1.91
Taxes & Benefits 0.6 437 1.61 0.7 579 2.14 0.5 164 0.60
Total POM Labor 2.2 1,457 5.37 2.2 1,833 6.78 2.1 718 2.62
Total Labor
Salaries & Wages 23.2% $15,624 $57.51 24.5% $20,683 $76.38 16.8% $5,404 $19.77
Taxes & Benefits 9.2 6,167 22.71 9.9 8,399 31.03 5.2 1,673 6.12
Total Labor 32.3 21,134 77.86 34.4 28,104 103.99 22.2 7,465 27.27
NOTES: Ratio-to-sales (RTS) based on Total Revenue, except Departmental Expenses. Per-Available-Room (PAR) based on total number of hotel rooms. Per-Occupied-Room night (POR) based on total number of occupied rooms.
78
Total U.S. Labor: Ratio-to-Sales Geographic Region
Rooms
Salaries & Wages 10.8% 13.9% 10.6% 11.7% 10.4% 11.9% 10.4% 11.3% 10.8%
Taxes & Benefits 4.7 7.8 3.6 5.0 2.7 3.0 2.8 3.3 5.5
Total Rooms Labor 15.4 21.0 14.1 16.4 12.9 15.1 13.3 14.7 16.4
Food & Beverage

Salaries & Wages 33.2% 40.5% 30.7% 32.0% 27.3% 30.4% 28.4% 30.3% 35.1%
Taxes & Benefits 14.7 22.9 11.6 15.0 9.2 10.0 9.3 9.7 16.5
Total F&B Labor 47.4 62.5 41.8 45.6 36.8 40.9 38.0 40.1 51.8

Salaries & Wages 36.4% 42.9% 41.1% 42.5% 33.1% 26.7% 34.0% 45.4% 32.3%
Taxes & Benefits 16.8 24.5 13.3 17.3 9.5 6.8 9.9 14.1 12.9
Total Other Department Labor 51.8 72.4 51.8 64.5 45.2 35.2 43.4 58.9 44.6

Salaries & Wages 2.7% 3.1% 2.9% 3.0% 2.8% 3.4% 3.0% 3.0% 2.6%
Taxes & Benefits 0.9 1.2 0.9 1.0 0.9 1.0 0.9 0.9 0.9
Total A&G Labor 3.6 4.2 3.8 3.9 3.6 4.3 3.9 3.9 3.5

Salaries & Wages 0.4% 0.6% 0.4% 0.5% 0.5% 0.4% 0.4% 0.4% 0.4%
Taxes & Benefits 0.2 0.4 0.2 0.2 0.2 0.1 0.1 0.1 0.2
Total IT Labor 0.6 1.0 0.6 0.7 0.7 0.6 0.5 0.5 0.7
Marketing
Salaries & Wages 1.7% 1.9% 2.0% 2.1% 1.8% 2.2% 2.2% 2.2% 1.8%
Taxes & Benefits 0.6 0.6 0.6 0.7 0.5 0.7 0.7 0.7 0.6
Total Marketing Labor 2.4 2.5 2.6 2.8 2.4 3.0 2.9 2.9 2.4

Salaries & Wages 1.5% 1.7% 1.5% 1.9% 1.5% 1.7% 1.6% 1.6% 1.5%
Taxes & Benefits 0.6 0.9 0.5 0.8 0.5 0.5 0.5 0.6 0.7
Total POM Labor 2.0 2.5 2.0 2.7 2.0 2.2 2.1 2.2 2.3
Total Labor
Salaries & Wages 22.0% 26.0% 23.2% 23.6% 20.7% 22.3% 22.3% 24.4% 22.8%
Taxes & Benefits 9.0 13.4 8.0 9.9 6.1 6.4 6.7 7.5 10.4
Total Labor 31.0 38.5 30.6 33.1 26.7 29.5 28.9 32.2 33.4
79
Total U.S. Labor: Ratio-to-Sales Location Type Class
Rooms
Salaries & Wages 11.4% 10.8% 11.6% 12.2% 10.9% 12.0% 11.8% 11.0% 10.9% 12.1% 10.8%
Taxes & Benefits 5.6 3.6 4.3 3.1 4.3 3.3 5.7 5.0 3.5 3.4 3.3
Total Rooms Labor 17.0 14.4 15.7 15.5 15.3 15.5 17.4 16.0 14.6 15.5 14.5
Food & Beverage

Salaries & Wages 34.3% 31.2% 30.8% 32.3% 31.4% 32.8% 34.7% 31.3% 32.1% 35.5% 35.0%
Taxes & Benefits 16.5 11.7 12.8 8.7 11.8 10.3 15.0 13.3 11.7 11.9 17.9
Total F&B Labor 51.0 43.0 43.7 41.7 42.8 42.9 49.5 44.7 44.3 46.9 41.8

Salaries & Wages 41.4% 33.8% 28.1% 32.2% 37.2% 40.4% 39.6% 36.6% 18.1% 19.9% 397.6%
Taxes & Benefits 17.3 12.9 10.6 7.3 12.2 13.8 14.3 12.7 6.3 5.3 88.2
Total Other Department Labor 55.3 45.3 38.6 41.8 49.7 50.0 53.9 47.9 27.6 34.1 25.3

Salaries & Wages 2.8% 3.1% 3.0% 3.6% 2.6% 3.3% 2.8% 2.7% 3.0% 3.1% 3.7%
Taxes & Benefits 1.0 1.0 1.0 0.9 0.8 1.0 1.0 0.9 0.9 0.9 1.2
Total A&G Labor 3.8 4.0 3.9 4.4 3.4 4.3 3.8 3.7 3.8 3.8 4.8

Salaries & Wages 0.5% 0.4% 0.4% 0.6% 0.4% 0.4% 0.5% 0.4% 0.3% 0.5% 0.6%
Taxes & Benefits 0.2 0.2 0.2 0.2 0.2 0.1 0.2 0.2 0.1 0.2 0.4
Total IT Labor 0.7 0.6 0.6 1.0 0.6 0.6 0.7 0.6 0.6 0.9 1.2
Marketing
Salaries & Wages 2.0% 2.0% 1.8% 1.7% 1.9% 2.0% 2.1% 2.0% 1.7% 1.6% 1.6%
Taxes & Benefits 0.7 0.6 0.6 0.5 0.6 0.6 0.7 0.6 0.6 0.5 0.5
Total Marketing Labor 2.7 2.7 2.5 2.2 2.5 2.7 2.7 2.7 2.3 2.1 2.0

Salaries & Wages 1.6% 1.6% 1.6% 1.7% 1.6% 1.7% 1.6% 1.6% 1.5% 1.7% 1.9%
Taxes & Benefits 0.7 0.5 0.6 0.5 0.6 0.5 0.7 0.7 0.5 0.5 0.6
Total POM Labor 2.3 2.1 2.2 2.2 2.2 2.4 2.3 2.3 2.0 2.1 2.6
Total Labor
Salaries & Wages 23.8% 20.9% 21.9% 21.0% 25.0% 24.0% 27.3% 23.8% 18.7% 19.3% 16.8%
Taxes & Benefits 10.7 7.1 8.2 5.5 9.1 7.0 11.5 9.8 5.9 5.4 5.2
Total Labor 34.4 28.4 29.9 27.1 34.0 31.4 38.9 33.7 25.2 24.7 22.6
80
Total U.S. Labor: Per-Available-Room Geographic Region
Rooms
Salaries & Wages $5,703 $8,493 $4,632 $4,152 $3,643 $3,568 $3,630 $4,506 $6,807
Taxes & Benefits 2,485 4,740 1,564 1,788 941 896 976 1,304 3,473
Total Rooms Labor 7,896 12,387 6,047 5,883 4,619 4,582 4,603 5,822 10,097
Food & Beverage
Salaries & Wages $7,054 $8,622 $7,508 $5,534 $5,181 $3,936 $5,674 $7,475 $9,402
Taxes & Benefits 3,171 4,890 2,890 2,502 1,719 1,251 1,833 2,412 4,480
Total F&B Labor 9,397 12,348 9,468 7,814 6,629 5,518 7,129 9,645 13,198
Salaries & Wages $1,298 $1,352 $2,334 $985 $2,183 $658 $1,794 $3,603 $2,876
Taxes & Benefits 604 642 791 392 643 210 528 1,162 1,211
Total Other Department Labor 1,756 2,160 3,038 1,432 2,905 845 2,243 4,709 4,126
Salaries & Wages $1,966 $2,489 $1,935 $1,492 $1,404 $1,345 $1,524 $1,864 $2,364
Taxes & Benefits 613 919 594 469 429 399 449 548 806
Total A&G Labor 2,508 3,240 2,428 1,939 1,830 1,739 1,959 2,394 3,147
Salaries & Wages $393 $623 $398 $352 $393 $214 $321 $362 $527
Taxes & Benefits 190 402 152 166 143 82 117 123 286
Total IT Labor 588 1,090 557 541 542 356 438 522 832
Marketing
Salaries & Wages $1,409 $1,664 $1,566 $1,178 $1,076 $968 $1,280 $1,557 $1,737
Taxes & Benefits 449 547 467 424 317 319 384 521 601
Total Marketing Labor 1,823 2,035 1,908 1,555 1,366 1,321 1,644 1,985 2,272
Salaries & Wages $1,111 $1,351 $997 $924 $759 $643 $797 $1,018 $1,413
Taxes & Benefits 403 681 365 416 251 205 268 347 668
Total POM Labor 1,407 1,925 1,312 1,304 1,009 874 1,046 1,362 2,026
Total Labor
Salaries & Wages $15,802 $20,942 $15,458 $11,564 $10,336 $8,849 $11,454 $15,252 $21,082
Taxes & Benefits 6,464 10,828 5,347 4,853 3,071 2,542 3,428 4,699 9,583
Total Labor 21,659 29,467 19,666 16,229 13,364 11,918 14,599 19,881 29,777
81
Total U.S. Labor: Per-Available-Room Location Type Class
Rooms
Salaries & Wages $6,564 $3,677 $4,407 $3,021 $6,771 $3,896 $10,620 $5,734 $4,305 $3,874 $2,075
Taxes & Benefits 3,218 1,217 1,639 775 2,753 1,064 5,115 2,626 1,377 1,083 641
Total Rooms Labor 9,685 4,986 5,941 3,920 9,212 5,067 15,456 8,212 5,807 5,049 2,834
Food & Beverage
Salaries & Wages $7,735 $4,777 $4,574 $3,167 $12,049 $6,987 $18,252 $7,770 $1,889 $2,006 $607
Taxes & Benefits 3,737 1,789 1,937 764 4,633 2,105 7,877 3,320 652 549 212
Total F&B Labor 10,954 6,345 6,097 4,119 15,684 8,276 25,606 10,552 2,741 2,553 1,790
Salaries & Wages $1,104 $1,682 $663 $5,973 $4,494 $4,762 $4,964 $1,372 $502 $832 $174
Taxes & Benefits 478 683 256 996 1,529 1,679 1,813 487 160 254 39
Total Other Department Labor 1,562 2,598 869 5,029 5,869 6,229 6,890 1,842 1,083 1,474 1,118
Salaries & Wages $2,316 $1,344 $1,518 $1,021 $2,883 $1,552 $4,440 $2,220 $1,374 $1,089 $728
Taxes & Benefits 777 419 488 268 909 447 1,503 728 391 300 233
Total A&G Labor 3,041 1,780 1,951 1,313 3,687 1,975 5,996 2,913 1,763 1,352 973
Salaries & Wages $435 $373 $301 $674 $507 $464 $721 $374 $184 $253 $297
Taxes & Benefits 229 147 136 193 218 191 338 179 85 105 209
Total IT Labor 682 552 445 1,207 743 759 1,110 560 323 455 601
Marketing
Salaries & Wages $1,674 $1,049 $1,041 $585 $2,231 $1,104 $3,274 $1,654 $805 $568 $408
Taxes & Benefits 551 350 345 157 677 316 1,061 521 254 157 143
Total Marketing Labor 2,171 1,388 1,342 750 2,781 1,403 4,287 2,176 1,090 740 542
Salaries & Wages $1,295 $688 $800 $504 $1,776 $804 $2,466 $1,327 $666 $574 $380
Taxes & Benefits 603 236 312 140 743 235 1,103 587 215 170 118
Total POM Labor 1,832 945 1,067 666 2,408 1,085 3,533 1,814 921 761 524
Total Labor
Salaries & Wages $19,423 $9,191 $11,110 $6,041 $28,251 $11,153 $43,127 $19,497 $8,455 $6,753 $3,310
Taxes & Benefits 8,757 3,126 4,173 1,573 10,538 3,253 18,171 8,029 2,646 1,894 1,031
Total Labor 27,408 12,587 14,828 8,032 36,894 14,442 60,702 26,802 11,577 8,749 4,612
82
Total U.S. Labor: Per-Occupied-Room Night Geographic Region
Rooms
Salaries & Wages $21.29 $30.01 $16.93 $16.16 $13.71 $14.10 $14.21 $17.23 $23.21
Taxes & Benefits 9.27 16.75 5.73 6.97 3.54 3.55 3.82 4.99 11.84
Total Rooms Labor 29.53 43.85 22.20 22.82 17.38 18.08 18.06 22.21 34.49
Food & Beverage
Salaries & Wages $25.99 $30.24 $27.52 $21.64 $19.72 $15.95 $22.29 $29.09 $32.03
Taxes & Benefits 11.69 17.15 10.64 9.79 6.54 5.06 7.20 9.41 15.27
Total F&B Labor 34.87 43.35 34.88 30.44 25.18 22.17 28.10 37.46 45.05
Salaries & Wages $4.70 $4.59 $8.63 $3.81 $8.22 $2.63 $7.04 $14.28 $9.89
Taxes & Benefits 2.19 2.17 2.93 1.52 2.42 0.82 2.07 4.63 4.21
Total Other Department Labor 6.40 7.38 11.28 5.58 11.01 3.38 8.88 18.60 14.20
Salaries & Wages $7.34 $8.82 $7.07 $5.80 $5.28 $5.31 $5.97 $7.13 $8.06
Taxes & Benefits 2.29 3.25 2.17 1.84 1.61 1.57 1.76 2.10 2.75
Total A&G Labor 9.38 11.47 8.91 7.51 6.88 6.86 7.68 9.13 10.75
Salaries & Wages $1.41 $2.12 $1.47 $1.36 $1.52 $0.87 $1.25 $1.43 $1.78
Taxes & Benefits 0.68 1.35 0.56 0.64 0.55 0.33 0.46 0.49 0.96
Total IT Labor 2.11 3.71 2.06 2.09 2.10 1.45 1.70 2.07 2.81
Marketing
Salaries & Wages $5.15 $5.79 $5.71 $4.56 $4.05 $3.84 $5.00 $5.97 $5.91
Taxes & Benefits 1.64 1.90 1.71 1.64 1.19 1.27 1.50 2.01 2.05
Total Marketing Labor 6.71 7.12 6.99 6.00 5.14 5.23 6.44 7.60 7.75
Salaries & Wages $4.14 $4.79 $3.64 $3.60 $2.84 $2.54 $3.12 $3.88 $4.82
Taxes & Benefits 1.49 2.41 1.34 1.62 0.94 0.81 1.05 1.32 2.28
Total POM Labor 5.26 6.81 4.82 5.06 3.80 3.44 4.10 5.20 6.92
Total Labor
Salaries & Wages $58.98 $74.00 $56.50 $45.01 $38.90 $34.97 $44.84 $58.32 $71.89
Taxes & Benefits 24.11 38.26 19.59 18.92 11.56 10.06 13.41 17.98 32.66
Total Labor 81.00 104.33 72.20 62.95 50.29 47.03 57.28 75.83 101.70
83
Total U.S. Labor: Per-Occupied-Room Night Location Type Class
Rooms
Salaries & Wages $23.61 $13.83 $15.54 $12.05 $24.97 $15.86 $39.43 $20.99 $15.58 $14.63 $7.83
Taxes & Benefits 11.58 4.58 5.78 3.08 10.18 4.33 18.97 9.61 4.98 4.09 2.43
Total Rooms Labor 34.81 18.74 20.95 15.59 34.10 20.66 57.78 30.12 21.02 18.98 10.68
Food & Beverage
Salaries & Wages $27.87 $18.28 $16.01 $12.95 $44.38 $28.98 $67.84 $28.42 $6.94 $7.56 $2.30
Taxes & Benefits 13.47 6.86 6.79 3.08 17.14 8.71 29.24 12.14 2.40 2.09 0.86
Total F&B Labor 39.46 24.20 21.33 16.90 58.07 34.27 95.69 38.70 10.05 9.62 6.63
Salaries & Wages $3.95 $6.46 $2.35 $25.67 $16.90 $20.42 $18.58 $5.01 $1.80 $3.01 $0.74
Taxes & Benefits 1.71 2.63 0.91 4.61 5.80 7.22 6.76 1.79 0.58 0.92 0.16
Total Other Department Labor 5.60 9.89 3.09 23.44 22.23 26.59 25.89 6.75 3.99 5.51 3.06
Salaries & Wages $8.34 $5.05 $5.35 $4.06 $10.63 $6.31 $16.52 $8.13 $4.97 $4.11 $2.75
Taxes & Benefits 2.80 1.57 1.72 1.06 3.36 1.82 5.59 2.67 1.41 1.13 0.88
Total A&G Labor 10.93 6.69 6.88 5.21 13.64 8.04 22.41 10.68 6.38 5.08 3.67
Salaries & Wages $1.57 $1.41 $1.05 $3.08 $1.89 $2.01 $2.67 $1.36 $0.66 $0.92 $0.97
Taxes & Benefits 0.82 0.55 0.47 0.87 0.81 0.83 1.25 0.65 0.30 0.39 0.70
Total IT Labor 2.46 2.08 1.55 5.51 2.77 3.29 4.11 2.04 1.17 1.65 1.97
Marketing
Salaries & Wages $6.03 $3.93 $3.64 $2.35 $8.22 $4.49 $12.17 $6.06 $2.90 $2.15 $1.51
Taxes & Benefits 1.99 1.31 1.20 0.63 2.51 1.29 3.95 1.91 0.91 0.60 0.54
Total Marketing Labor 7.81 5.20 4.70 2.99 10.29 5.71 16.02 7.99 3.93 2.78 2.00
Salaries & Wages $4.66 $2.59 $2.82 $2.00 $6.54 $3.27 $9.17 $4.85 $2.41 $2.16 $1.43
Taxes & Benefits 2.17 0.89 1.10 0.55 2.74 0.95 4.10 2.14 0.78 0.64 0.45
Total POM Labor 6.58 3.55 3.76 2.64 8.91 4.43 13.21 6.65 3.33 2.86 1.98
Total Labor
Salaries & Wages $69.88 $34.57 $39.18 $24.09 $104.19 $45.39 $160.13 $71.39 $30.60 $25.51 $12.49
Taxes & Benefits 31.51 11.76 14.72 6.26 38.97 13.24 67.39 29.38 9.57 7.16 3.91
Total Labor 98.51 47.29 52.29 31.94 136.56 58.88 226.93 98.31 41.91 32.90 17.38
84
Glossary
Based on the Uniform System of Accounts for the Lodging Industry (Eleventh Edition)
Type of Hotel
Full-Service Hotel
Hotels reporting food and beverage revenues and expenses, where food and beverage revenues are greater than 5% of room
revenues.
Limited-Service Hotel
Hotels with rooms-only operations (i.e. without food and beverage service). These hotels are often in the budget or economy
group and do not report food and beverage revenue. Hotels may be included that offer food and beverage, but do not collect
the revenues from operation.
Revenues
Rooms
Revenues derived from the rental of sleeping rooms at the hotel, net of any rebates and discounts.
Rooms - Transient Revenue

Revenues derived from rental of rooms and suites by individuals or groups occupying less than 10 rooms per night.
Rooms - Group Revenue

Revenues derived from renting blocks of 10 or more rooms or suites per night to a group.
Rooms - Service Charges

Automatic charges added to the rental of rooms in respect of a service or use of an amenity.
Rooms – Other
Miscellaneous revenue associated with an occupied room; no shows and late checkout fees.
Food
Revenues derived from the sale of food, including coffee, milk, tea and soft drinks. Includes food revenues from venues,
banquet/catering, in-room dining, mini bar and other food.
Venue Food Revenue

Sales of food in specific dining areas in the property.
Banquet/Catering Food Revenue

Sales of food in a property's banquet rooms and for group functions outside the property.
In-Room Dining Food Revenue

Sales of food that require delivery to customers in the guestroom.
Mini Bar Food Revenue

Sales of packaged food placed in a guestroom; candy, snacks, soft drinks.

Other Food Revenue
Sales of consumable food items not designated as venues, in-room dining, banquet/catering, or mini bar revenues.
Beverage
Revenues derived from the sale of beverages, including beer, wine and liquors. Includes beverage revenues from venues,
banquet/catering, in-room dining, mini bar and other beverage.
Venue Beverage Revenue

Beverage sales in specific dining areas in the property.
Banquet/Catering Beverage Revenue

Beverage sales in the property's banquet rooms and for group functions outside the hotel.
In-Room Dining Beverage Revenue

Beverage sales that require delivery to customers in their guestroom.
Mini Bar Beverage Revenue

Sales of packaged beverages (bottles and cans) placed in a guestroom.
Other Beverage Revenue

Sales of consumable beverage items not designated as venues, in-room dining, banquet/catering or mini bar revenues.

Revenues derived from other sources such as meeting room rentals, cover or service charges or revenues derived from the
sale of goods or services made in connection with banquets, such as equipment rental, music, decorations and souvenirs.
Also includes banquet service charges.
Audio Visual
Revenues and commissions derived from supplying audiovisual equipment and services to customers, whether the equipment
is owned by the property or rented from a third party.
Room Rental
Revenue derived from the rental of public meeting rooms to customers.
Service Charges
Automatic charges added to any food sale to help cover the cost of staff service to the customer.
Telecommunications
Revenues derived from guest-use of telephones in the hotel, including local and long distance calls, service charges, high
speed or wireless internet and commissions received from pay phones.

Revenues generated from garage and parking, guest laundry, golf and tennis, health club, spa, swimming pool,
barber/beauty shop, gift shop, newsstand, etc., when operated by the hotel. Excludes casinos.
Golf Cart Rentals

Revenue generated from the rental of golf carts on the golf course.
Golf-Green Fees
Revenue derived from charges to customers for playing golf on the golf course.

Golf-Membership
Revenue derived from charging customers for a "membership" at the golf course, which allows the "member" to exercise
privileges not given to the general public.
Golf-Retail
Revenue derived from all sales of merchandise and clothing in the golf shop or anywhere on the golf course.
Golf-Other
Revenue from providing any other services not previously specified.
Salon Revenue
Revenue generated from salon services such as hair appointments and manicures and pedicures.
Spa-Other
Revenue from providing any other services not previously specified.
Spa-Retail
Revenue derived from sales of merchandise and clothing in the health club/spa.
Spa-Treatments
Revenue derived from health treatments such as facials, body wraps and mud packs.
Miscellaneous Income
Income from rentals of space for business purposes, including concessions in any of the departments mentioned under other
operated departments. Also includes income generated from sources not included elsewhere such as cancellation and resort
fees, but excludes investment income.
Departmental Expenses
Rooms
Rooms departmental expenses include labor costs such as salaries and wages for front desk, housekeeping, reservations,
bell staff and laundry, plus employee benefits. Other operating expenses in the rooms department include linen, cleaning
supplies, guest supplies, uniforms, central or franchise reservation fees and travel agent commissions.
Food and Beverage (F&B)

Food and Beverage departmental expenses include the cost of goods sold (food and beverages), labor and related benefits
and other operating expenses. Labor costs include departmental management, cooks and kitchen personnel, service staff,
banquet staff and bartenders. Other operating expenses include china, silverware, linens, restaurant and kitchen supplies,
menus and printing and special promotions.
Salaries & Wages

Earnings paid to an employee, such as regular pay, overtime pay and shift differential pay.
Benefits
Includes all other payroll-related expenses, such as employer-paid health insurance expenses, cost of meals furnished to
employees, pension contributions and union fees.

Labor Expenses
Includes salaries and wages of departmental personnel and management including overtime, severance, incentive, holiday,
sick, vacation and bonus pay.
Payroll Taxes
Includes FICA, FUTA and SUTA, SDI and other mandated payroll-related taxes or social insurance items.

Other departmental expenses would comprise those expenses (labor and other) which offset the revenue generated by other
operated departments such as garage, guest laundry, athletic facilities and gift shop.
Undistributed Operating Expenses
Administrative and General (A&G)

Included in this category are the payroll and related expenses for the general manager, human resources and training, security,
clerical staff, controller and accounting staff. Other A&G expenses include office supplies, computer services, accounting and
legal fees, cash overages and shortages, bad debt expenses, travel insurance, credit card commissions, transportation (non-
guest) and travel and entertainment.
Marketing
Marketing expenses include payroll and related expenses for the sales and marketing staff, direct sales expenses, advertising
and promotion, travel expenses for the sales staff and civic and community projects.
Utility Costs
Utility expenses typically include electricity, fuel (oil, gas and coal), purchased steam and water. Includes central plant and
energy management systems.
Property Operations and Maintenance

This category includes payroll and related expenses for maintenance personnel, cost of maintenance supplies, cost of repairs
and maintenance of the building, furniture and equipment, the grounds and the removal of waste matter.
Management Fees
Fees charged by management organizations for management services or supervision. Includes both base and incentive fees.
Franchise Fee
Includes the royalty fees and advertising assessments charged by franchise companies.
Fixed Charges
Property Taxes
Typically include taxes on real estate, business and occupation, personal property, utilities and other municipal taxes.
Land and Building Rent

Includes charges for lease of land and/or building.
Equipment Rental
Includes capital leases for rental of data processing equipment, telephone equipment and other major items.

Insurance
Cost of insuring the hotel building and contents against fire, weather, sprinkler leakage, boiler explosion, plate glass breakage
or other perils such as terrorism. Includes all insurance except workers’ compensation.
Reserve for Capital Replacement

Amount set aside for replacement of furniture, fixtures and equipment (as may be required by loan, franchise or management
agreement).
Other Fixed Charges

Includes any other expenses that relate to the ownership of the hotel and gains or losses from any sale of assets.
Other Terms
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-
affiliated hotels in its geographic proximity.
Per-Available-Room (PAR)
Calculated by dividing by the number of keys in the hotel.
Per-Occupied-Room night (POR)

Calculated by dividing by the room nights occupied during the financial year.
Ratio-to-Sales (RTS)
Calculated by dividing by total revenue, with the exception of departmental expenses, which are based on the departmental
revenue of the respective department.

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HOST Almanac 2018 © 2018 by STR, Inc. All rights reserved 3

U.S. Lodging Industry Revenues and Profits

Room Revenue $157B

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2017 U.S. HOST P&L Profit Growth by Class

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2017 U.S. HOST P&L Departmental Growth

Rooms Revenue 1.8%

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U.S. Profitability Change by Market (2016-2017)

Same-store house profit before deductions for fixed expenses

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Number of Markets with Positive/Negative GOP % Change

Top 10 Markets RevPAR % Change Top 10 Markets House Profit % Change

Pennsylvania Northeast 24.1% Pennsylvania Northeast 39.1%

New Mexico North 21.9% New Mexico North 27.3%

Oklahoma Area 17.9% South Carolina Area 25.8%

Texas West 12.4% Texas West 21.9%

Sacramento, CA 12.0% Texas South 20.7%

Texas South 11.4% Wyoming 17.2%

Illinois North 10.8% Maui Island, HI 15.2%

Salt Lake City/Ogden, UT 9.9% Missouri North 15.2%

South Carolina Area 9.2% Salt Lake City/Ogden, UT 14.8%

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Bottom 10 Markets RevPAR % Change Bottom 10 Markets House Profit % Change

Cleveland, OH -10.4% Louisiana South -22.3%

Louisiana South -9.8% Cleveland, OH -22.1%

Des Moines, IA -8.4% Jackson, MS -21.2%

Texas North -6.5% Kentucky Area -16.9%

Florida Keys -6.2% Des Moines, IA -15.1%

Minneapolis/St Paul, MN-WI -6.1% Massachusetts Area -13.7%

Lower Hudson Valley, NY -5.9% North Dakota -13.3%

Kentucky Area -5.4% Lower Hudson Valley, NY -13.1%

North Dakota -5.1% Texas North -13.0%

Louisville, KY-IN -4.8% Alaska -12.5%

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2016 and 2017 Modeled P&L Data Results

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U.S. Revenues by Chain Scale

 Room Revenue  Beverage Revenue  Other Operated Revenue

Top U.S. Markets for Total Hotel Revenues

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U.S. Lodging Industry: A Decade of Selected Performance Measures (2008-2017)

Annual Changes in Supply, Demand, and RevPAR (2010-2017)

1.7 1.9 1.8

 Supply  Demand  RevPAR

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Ratio to Sales Per Available Room Per Occupied Room

Ratio to Sales Per Available Room Per Occupied Room

Forecast the performance of

Market Name Code Market Name Code

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GOP by Region (RTS)

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Philadelphia, PA-NJ -5.6%

San Francisco/San Mateo, CA -5.7%

Minneapolis/St Paul, MN-WI -11.3%