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Mark V. Lomanno President Smith Travel Research STR Condotel Pipeline Part of the STR / TWR / Dodge Construction Pipeline.

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Presentation on theme: "Mark V. Lomanno President Smith Travel Research STR Condotel Pipeline Part of the STR / TWR / Dodge Construction Pipeline."— Presentation transcript:

1 Mark V. Lomanno President Smith Travel Research STR Condotel Pipeline Part of the STR / TWR / Dodge Construction Pipeline

2 Presentation Outline * Existing Hotel Construction Pipeline Condo Hotel Pipeline Existing Condo Hotel Performance Reporting Methodology Issues Source: STR

3 Total United States Active Development Pipeline - Rooms Change From Last Year Jan 2006 Jan 2005 Change % Chg In Construction 101,353 101,958 (605) (0.6)% Final Planning 25,401 14,739 10,662 72.3% Planning 189,124 168,165 20,959 12.5% ----------------------------------------------------------------------- Active Pipeline 315,878 284,862 31,016 10.9% In Pre-Planning 60,999 83,869 (22,870) -27.3% Total Development 376,877 368,731 8,146 2.2% Source: STR / TWR / Dodge Construction Pipeline

4 Total U.S. Summary of Condotel Pipeline – February 2006 Source: STR Condotel Pipeline, part of the STR / TWR / Dodge Construction Pipeline 239 Projects with a total of 100,897 reported* rooms Rooms are broken out as follows ( % of total): Hotel Rooms: 35,373 35.1% Condo Hotel Rooms:49,692 49.2% Total Affecting Nightly Room Supply: 85,065 84.3% Non-rental Residences:14,472 14.3% Timeshare Rooms: 1,360 1.4% * Some projects have not yet reported room counts

5 Total U.S. Summary of Condotel Pipeline – February 2006 Total Rooms Affecting Nightly Room Supply: Hotel Rooms: 35,373 41.6% Condo Hotel Rooms:49,692 58.4% Total Affecting Nightly Room Supply: 85,065 100% *Some projects have not yet reported room counts

6 Total United States Development Pipeline – Rooms January 2006 Hotels vs. Hotel Rooms in Condotels Hotel Rooms in Hotel Rooms Condotels % of Rooms In Construction 101,353 9,303 9.2% Final Planning 25,401 2,901 11.4% Planning 189,124 14,609 7.2% ---------------------------------------------------------------------------- Active Pipeline 315,878 26,813 8.5% In Pre-Planning 60,999 8,560 14.0% Total Development 376,877 35,373 9.4% Source: STR / TWR / Dodge Construction Pipeline For Reference: Supply increase 2006 Forecast: 54k rooms (1.2%)

7 Total United States All Rooms vs. Hotel Rooms vs. Condotel Rooms January 2006 Phase Hotel Rooms in Total Pipeline Condo Rooms in Condotel Pipeline Total Potential Hotel Inventory In Construction101,353 13,551114,904 Final Planning 25,401 5,48330,884 Planning189,124 18,248207,372 In Pre-Planning60,999 12,41073,409 Total Development376,877 49,692426,569

8 Total United States All Rooms vs. Hotel Rooms vs. Condotel Rooms January 2006 Phase Hotel Rooms in Total Pipeline Condo Rooms in Condotel Pipeline Total Potential Hotel Inventory Total Condotel Rooms % of Total Pipeline In Construction101,353 13,551114,904 22,85419.9% Final Planning 25,401 5,48330,884 8,38427.2% Planning189,124 18,248207,372 32,85715.8% In Pre-Planning60,999 12,41073,409 20,97028.6% Total Development376,877 49,692426,569 85,06520.0%

9 States Snapshot: 31 States have Condotel Projects in the pipeline 4 States have 10+ Projects 70% of all Project Rooms are in only 5 States 81.5% of all Project Rooms are in 10 States

10 Total U.S. Top 10 Condotel States by total number of units Source: STR Condotel Pipeline

11 Total U.S. Top 10 Condotel MSAs by total number of units

12 Total U.S. Number of Projects by Affiliation *Independent Projects may affiliate in later stages


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