1. Vancouver October 19, 2011 18/17/2015

2. TAP CVB Clients Western Zone Albuquerque* Denver Los Angeles Palm Springs* Portland Reno Sacramento Salt Lake* San Diego San Francisco San Jose Seattle Spokane Vancouver Central Zone Arlington Austin Chicago Dallas Des Moines Fort Worth Houston Kansas City Madison Memphis Milwaukee Minneapolis Mobile Nashville New Orleans Oklahoma City* Omaha Overland Park San Antonio St. Louis * Eastern Zone Atlanta Baltimore Birmingham Charlotte Chattanooga* Cincinnati Fort Lauderdale Grand Rapids Indianapolis Jacksonville Lexington Louisville Northern Kentucky* Montreal Orlando Philadelphia Pittsburgh Providence Richmond Tampa Toronto Virginia Beach Washington DC * Cities in start up phase

3. TAP Hotel Clients San Diego Hard Rock Hotel Hilton San Diego Gaslamp Hilton San Diego Bayfront Holiday Inn Express Downtown Marriott San Diego Gaslamp San Diego Marriott Marquis Manchester Grand Hyatt Omni San Diego Sheraton Hotel San Diego U.S. Grant Hotel W Hotel Westin San Diego Westin San Diego Gaslamp Dallas Fairmont Dallas Hilton Anatole Hyatt Regency Downtown Omni Dallas (opens 11/11) Sheraton Dallas Portland Doubletree Hotel Portland Embassy Suites Portland Hilton Portland/Exec. Tower Marriott Portland Downtown Hotel Monaco Portland The Nines Portland Red Lion on the River Residence Inn Lloyd Center Minneapolis Hilton Minneapolis Hyatt Regency Minneapolis Marriott City Center Millennium Hotel Minneapolis Radisson Plaza Minneapolis Cincinnati Hilton Netherlands Plaza Hyatt Regency Millennium Hotel Westin Cincinnati Garfield Suites Hotel Start Up Cities Albuquerque Atlanta Baltimore Louisville Sacramento San Antonio Toronto Fort Lauderdale Westin Beach Resort & Spa Sheraton Ft. Lauderdale Embassy Suites Harbor Beach Marriott Hyatt Regency Pier 66 Hilton Ft. Lauderdale Marina Renaissance Hotel Riverside Hotel Spokane Doubletree City Center Red Lion Hotel at the Park The Davenport Hotel Mirabeau Park Hotel Northern Quest Resort & Casino

4. Vancouver Current Industry Trends Smith Travel Research National/Regional Pace/Market Share Reports Room Night/Event Metrics Strategic Transactional Decisions 48/17/2015

5. Vancouver Current Industry Trends 58/17/2015

6. Vancouver Smith Travel Research Data STR 68/17/2015

7. U.S. Demand Percent Change January 2008 – August 2011 Following 19 months of consecutive decline, demand is now consistently on the rise

8. RevPAR Shows Steady Growth with ADR Improvement 3.0% 5.2% U.S. Occupancy/ADR/RevPAR Percent Change Twelve Month Moving Average – 2009 to August 2011 8.4%

9. Occ: ▲ 4.8% ADR: ▲ 5.4% RevPAR: ▲ 10.5% Occ: ▲ 6.2% ADR: ▲ 2.4% RevPAR: ▲ 8.8% Occ: ▲ 2.7% ADR: ▲ 3.2% RevPAR: ▲ 5.9% Occ: ▲ 5.5% ADR: ▲ 2.7% RevPAR: ▲ 8.2% Occ: ▲ 5.1% ADR: ▲ 3.2% RevPAR: ▲ 8.5% Occ: ▲ 2.9% ADR: ▲ 3.1% RevPAR: ▲ 6.2% Occ: ▲ 4.2% ADR: ▲ 2.5% RevPAR: ▲ 6.9% Occ: ▲ 2.5% ADR: ▲ 4.9% RevPAR: ▲ 7.4% TOTAL US Occ: ▲ 4.4% ADR: ▲ 3.5% RevPAR: ▲ 8.1% Occ: ▲ 3.9% ADR: ▲ 3.4% RevPAR: ▲ 7.4% August 2011 YTD

10. OCC & ADR % Change, YTD August 2011

11. Convention Industry Trends Some Positive Growth/Transient Segments Chains/Owners Pushed 8%-15% Growth 2011 over 2010 2012 Most Looking For 5%-9% over 2011 North America Booking Pace Trending Up Pace Trend Suggests Pent Up Demand Short Term 2011 Aggressive Approach VS. Future Years Economic Indicators Ride Roller Coaster Meeting Planners Can Afford To Wait It Out Peer Set Cities Have Shifted Smaller Cities Feeling The Pain CVB’s Still VERY Competitive 118/17/2015118/17/201511

12. Vancouver Regional Trends Pace/Market Share Reports 128/17/2015

13. 13 Report Region: North America Market Period Ending: June 30, 2011 Total Room Nights20112012201320142015201620172018Total Definite R/N 22,398,23617,416,56013,299,21910,318,3388,341,4626,176,3674,716,2313,602,42986,268,842 Pace Targets 22,663,97018,203,22214,845,61912,103,6009,563,2157,413,2675,734,9764,478,21095,006,079 Consumption Benchmark 23,602,447 188,819,576 Pace Percentage 99%96%90%85%87%83%82%80%91% Pace Percentage 3/31/11 97%93%87%84%85%81%79%81%89% Total Demand 86,456,64672,781,68154,309,90741,529,19933,261,43222,437,70316,019,35616,619,121343,415,045 Lost R/N 64,058,41055,365,12141,010,68831,210,86124,919,97016,261,33611,303,12510,676,692254,806,203 Conversion Percentage 26%24% 25% 28%29%22%25% Tentative R/N 1,870,9047,925,7939,119,1498,265,7148,116,3187,578,8595,608,5365,235,89353,721,166 Total Events Definite Events 17,8555,8952,6151,48689153631520829,801 Pace Targets 17,6946,4273,2711,9661,21676750335532,199 Consumption Benchmark 20,934 167,472 Pace Percentage 101%92%80%76%73%70%63%59%93% Pace Percentage 3/31/11 99%84%76%72%69%66%60%59%88% Total Demand Events 41,31918,8489,5795,5193,2781,81498664881,991 Lost Events 23,46412,9536,9644,0332,3871,27867143952,189 Conversion Percentage 43%31%27% 30%32% 36% Tentative Events 3,5546,8283,8562,3791,5541,06260345020,286 8/17/2015

14. 14 Report Region: East Region Period Ending: June 30, 2011 Total Room Nights20112012201320142015201620172018Total Definite R/N 10,039,2637,804,8815,521,1034,167,4383,405,0752,530,8361,973,3641,544,49436,986,454 Pace Targets 10,214,1137,936,5466,411,4495,187,6724,067,5213,149,6092,439,5021,891,50941,297,921 Consumption Benchmark 10,751,394 86,011,152 Pace Percentage 98% 86%80%84%80%81%82%90% Pace Percentage 3/31/11 97%95%83%79%84%78% 80%88% Total Demand 37,564,75132,949,04324,365,99719,327,23615,679,78010,831,1047,835,3829,291,619157,844,912 Lost R/N 27,525,48825,144,16218,844,89415,159,79812,274,7058,300,2685,862,0185,407,125118,518,458 Conversion Percentage 27%24%23%22% 23%25%17%23% Tentative R/N 838,8543,517,9623,642,7943,690,6563,738,0653,676,9822,934,9362,659,48724,699,736 Total Events Definite Events 8,0112,4181,0535773702091308512,853 Pace Targets 7,6842,5791,29877948730820013813,473 Consumption Benchmark 9,292 74,336 Pace Percentage 104%94%81%74%76%68%65%62%95% Pace Percentage 3/31/11 103%85%76%69%72%63%64%60%91% Total Demand Events 17,4107,5163,8622,2341,37675844628533,887 Lost Events 9,3995,0982,8091,6571,00654931619921,033 Conversion Percentage 46%32%27%26%27%28%29%30%38% Tentative Events 1,7223,0951,5569316444592882118,906 8/17/2015

15. 15 Report Region: Mid-West Region Period Ending: June 30, 2011 Total Room Nights20112012201320142015201620172018Total Definite R/N 6,841,5645,464,7444,543,5013,584,0122,611,9861,742,9711,113,851960,16426,862,793 Pace Targets 7,088,5725,836,3384,706,9053,750,0662,824,0652,045,7761,448,3171,059,51928,759,558 Consumption Benchmark 7,293,369 58,346,952 Pace Percentage 97%94%97%96%92%85%77%91%93% Pace Percentage 3/31/11 96%91%96%97%91%84%77%87%92% Total Demand 26,362,13522,150,97017,000,10512,314,9068,944,9205,778,7953,451,8392,882,83198,886,501 Lost R/N 19,520,57116,686,22612,456,6048,730,8946,332,9344,035,8242,337,9881,922,66772,023,708 Conversion Percentage 26%25%27%29% 30%32%33%27% Tentative R/N 655,8792,645,5393,026,9313,023,9912,898,0882,432,6032,022,6711,583,29618,288,998 Total Events Definite Events 5,2511,90588252230316688559,172 Pace Targets 5,2042,1411,12566639323614510110,011 Consumption Benchmark 6,052 48,416 Pace Percentage 101%89%78% 77%70%61%54%92% Pace Percentage 3/31/11 99%82%78%77%75%68%59%57%89% Total Demand Events 12,9066,2543,3231,8701,03254323614126,305 Lost Events 7,6554,3492,4411,3487293771488617,133 Conversion Percentage 41%30%27%28%29%31%37%39%35% Tentative Events 1,1132,1541,3308965693622221486,794 8/17/2015

16. 16 Report Region: West Region Period Ending: June 30, 2011 Total Room Nights20112012201320142015201620172018Total Definite R/N 5,517,4094,146,9353,234,6152,566,8882,324,4011,902,5601,629,0161,097,77122,419,595 Pace Targets 5,361,2854,430,3383,727,2653,165,8622,671,6292,217,8821,847,1571,527,18224,948,600 Consumption Benchmark 5,557,684 44,461,472 Pace Percentage 103%94%87%81%87%86%88%72%90% Pace Percentage 3/31/11 100%90%83%78%81%82%83%77%87% Total Demand 22,529,76017,681,66812,943,8059,887,0578,636,7325,827,8044,732,1354,444,67186,683,632 Lost R/N 17,012,35113,534,7339,709,1907,320,1696,312,3313,925,2443,103,1193,346,90064,264,037 Conversion Percentage 24%23%25%26%27%33%34%25%26% Tentative R/N 376,1711,762,2922,449,4241,551,0671,480,1651,469,274650,929993,11010,732,432 Total Events Definite Events 4,5931,57268038721816197687,776 Pace Targets 4,8061,7078485213362231581168,715 Consumption Benchmark 5,590 44,720 Pace Percentage 96%92%80%74%65%72%61%59%89% Pace Percentage 3/31/11 93%85%74%69%60%68%55%59%85% Total Demand Events 11,0035,0782,3941,41587051330422221,799 Lost Events 6,4103,5061,7141,02865235220715414,023 Conversion Percentage 42%31%28%27%25%31%32%31%36% Tentative Events 7191,57997055234124193914,586 8/17/2015

17. Vancouver Room Night/Event Metrics 8/17/201517

18. 18 Report City: Vancouver Period Ending: August 31, 2011 Actual Consumption Benchmark Vancouver R/N20112012201320142015201620172018Total Definite Room Nights 312,775215,633143,25185,066197,64194,7248,35016,4601,073,900 Pace Targets 239,527201,096141,77897,90455,07731,59414,3684,962786,306 Variance 73,24814,5371,473(12,838)142,56463,130(6,018)11,498287,594 Consumption Benchmark 241,453 1,931,624 Pace Percentage 131%107%101%87%359%300%58%332%137% Total Demand 1,048,085898,786580,666338,207613,684282,97682,36935,5603,880,333 Lost Room Nights 735,310683,153437,415253,141416,043188,25274,01919,1002,806,433 Conversion Percentage 30%24%25% 32%33%10%46%28% Tentative R/N 5,09240,714116,705150,73491,866127,08660,700130,363723,260 Vancouver Events Definite Events 186106441914 12386 Pace Targets 1718639208000324 Variance 15205(1)6141262 Consumption Benchmark 180 1,440 Pace Percentage 109%123%113%95%175%1400%100%200%119% Total Demand Events 436279142695432931,024 Lost Events 2501739850401881638 Conversion Percentage 43%38%31%28%26%44%11%67%38% Tentative Events 184645421917612205 8/17/2015

19. 19 Report City: Vancouver Period Ending: August 31, 2011 Higher Consumption Benchmark Vancouver R/N20112012201320142015201620172018Total Definite Room Nights 312,775215,633143,25185,066197,64194,7248,35016,4601,073,900 Pace Targets 328,557275,842194,477134,29883,94448,15221,8987,5631,094,731 Variance (15,782)(60,209)(51,226)(49,232)113,69746,572(13,548)8,897(20,831) Consumption Benchmark 331,200 368,000 2,796,800 Pace Percentage 95%78%74%63%235%197%38%218%98% Total Demand 1,048,085898,786580,666338,207613,684282,97682,36935,5603,880,333 Lost Room Nights 735,310683,153437,415253,141416,043188,25274,01919,1002,806,433 Conversion Percentage 30%24%25% 32%33%10%46%28% Tentative R/N 5,09240,714116,705150,73491,866127,08660,700130,363723,260 Vancouver Events Definite Events 186106441914 12386 Pace Targets 1718639208000324 Variance 1520(5)(1)6141262 Consumption Benchmark 180 1,440 Pace Percentage 109%123%113%95%175%1400%100%200%119% Total Demand Events 436279142695432931,024 Lost Events 2501739850401881638 Conversion Percentage 43%38%31%28%26%44%11%67%38% Tentative Events 184645421917612205 8/17/2015

20. 20 Report City: Vancouver Period Ending: August 31, 2011 Vancouver R/N20112012201320142015201620172018Total Definite R/N 312,775215,633143,25185,066197,64194,7248,35016,4601,073,900 Pace Targets 328,557275,842194,477134,29883,94448,15221,8987,5631,094,731 Variance (15,782)(60,209)(51,226)(49,232)113,69746,572(13,548)8,897(20,831) Consumption Benchmark 331,200 368,000 2,796,800 Pace Percentage 95%78%74%63%235%197%38%218%98% Total Demand 1,048,085898,786580,666338,207613,684282,97682,36935,5603,880,333 Lost R/N 735,310683,153437,415253,141416,043188,25274,01919,1002,806,433 Conversion Percentage 30%24%25% 32%33%10%46%28% Tentative R/N 5,09240,714116,705150,73491,866127,08660,700130,363723,260 Vancouver Events Definite Events 186106441914 12386 Pace Targets 1718639208000324 Variance 1520(5)(1)6141262 Consumption Benchmark 180 1,440 Pace Percentage 109%123%113%95%175%1400%100%200%119% Total Demand Events 436279142695432931,024 Lost Events 2501739850401881638 Conversion Percentage 43%38%31%28%26%44%11%67%38% Tentative Events 184645421917612205 8/17/2015

21. Strategic Alignment CONVERSION PERCENTAGE 21

22. Vancouver Demand Analysis 8/31/11

24. 24 Report City: Vancouver Period Ending: August 31, 2011 Convention Center Events Only Vancouver R/N20112012201320142015201620172018Total Definite R/N 211,709150,932105,67077,635187,03085,7268,35016,460843,512 Pace Targets 138,322134,221108,80782,75450,23331,06814,0495,016564,470 Variance 73,38716,711(3,137)(5,119)136,79754,658(5,699)11,444279,042 Consumption Benchmark 138,423 1,107,384 Pace Percentage 153%112%97%94%372%276%59%328%149% Total Demand 598,217520,476446,744270,892508,493266,53978,94535,5602,725,866 Lost R/N 386,508369,544341,074193,257321,463180,81370,59519,1001,882,354 Conversion Percentage 35%29%24%29%37%32%0%46%31% Tentative R/N 015,62776,092109,22069,071113,55956,208114,916554,693 Vancouver Events Definite Events 22191312781284 Pace Targets 17 126500057 Variance 5216281227 Consumption Benchmark 18 144 Pace Percentage 129%112%108%200%140%800%100%200%147% Total Demand Events 74735234352273300 Lost Events 52543922281461216 Conversion Percentage 30%26%25%35%20%36% 67%28% Tentative Events 03899103 52 8/17/2015

25. 25 Report City: Vancouver Period Ending: August 31, 2011 Vancouver R/N 2014JanFebMarAprMayJun Definite R/N 01,83001,81818,76726,800 Pace Targets 2,6843,5458,45116,40121,00122,098 Variance (2,684)(1,715)(8,451)(14,583)(2,234)4,702 Consumption Benchmark 5,4727,41218,33936,53948,88153,915 Pace Percentage 0%52%0%11%89%121% Total Demand 1,5601,83042,02524,54832,15732,878 Lost R/N 1,560042,02522,73013,3906,078 Conversion Percentage 0%100%0%7%58%82% Tentative R/N 25,25047,4173,51010,2475,1603,865 Vancouver 2014 Events Definite Events 010233 Pace Targets 112233 Variance (1)0(2)000 Consumption Benchmark 5813192326 Pace Percentage 0%100%0%100% Total Demand Events 1141078 Lost Events 104845 Conversion Percentage 0%100%0%10%14%12% Tentative Events 123653 8/17/2015

26. 26 Report City: Vancouver Period Ending: August 31, 2011 Vancouver R/N 2014JulAugSepOctNovDec Definite R/N 2,8473,4002,38017,1509,99678 Pace Targets 14,75211,1529,67816,9106,872754 Variance (11,905)(7,752)(7,298)2403,124(676) Consumption Benchmark 37,47629,44025,68346,00619,3602,677 Pace Percentage 19%30%25%101%145%10% Total Demand 35,27750,84730,87448,44637,68778 Lost R/N 32,43047,44728,49431,29627,6910 Conversion Percentage 8%7%8%35%27%100% Tentative R/N 2,8407,5357,27235,5632,0750 Vancouver Events 2014 Definite Events 121321 Pace Targets 212210 Variance (1)1 111 Consumption Benchmark 16112223113 Pace Percentage 50%200%50%150%200%100% Total Demand Events 5971061 Lost Events 476740 Conversion Percentage 20%11%14%20%17%100% Tentative Events 257710 8/17/2015

27. 27 Report City: Vancouver Period Ending: August 31, 2011 Vancouver Data20112012201320142015201620172018Total Definite R/N 312,775215,633143,25185,066197,64194,7248,35016,4601,073,900 Pace Targets 328,557275,842194,477134,29883,94448,15221,8987,5631,094,731 Consumption Benchmark 331,200 368,000 2,796,800 Pace Percentage 95%78%74%63%235%197%38%218%98% Total Demand R/N 1,048,085898,786580,666338,207613,684282,97682,36935,5603,880,333 Lost R/N 735,310683,153437,415253,141416,043188,25274,01919,1002,806,433 Conversion Percentage 30%24%25% 32%33%10%46%28% Tentative R/N 5,09240,714116,705150,73491,866127,08660,700130,363723,260 Peer Set Data: Vancouver, Montreal, Toronto Definite R/N 967,752605,435419,888369,105483,124184,106141,54839,9423,210,900 Pace Targets 1,084,496815,326567,761429,741299,688200,254109,81160,8873,567,964 Consumption Benchmark 1,098,913 1,135,713 8,938,504 Pace Percentage 89%74% 86%161%92%129%66%90% Total Demand R/N 3,189,3932,777,8591,951,1691,433,5891,785,405770,977479,882272,65912,660,933 Lost R/N 2,221,6412,172,4241,531,2811,064,4841,302,281586,871338,334232,7179,450,033 Conversion Percentage 30%22% 26%27%24%29%15%25% Tentative R/N 26,126150,944317,358329,898242,739418,203190,009198,9401,874,217 Peer Set Benchmark Data Definite R/N Share % 32%36%34%23%41%51%6%41%33% Demand R/N Share % 33%32%30%24%34%37%17%13%31% 8/17/2015

28. 28 Report City: Vancouver Period Ending: August 31, 2011 Vancouver Data20112012201320142015201620172018Total Definite Events 186106441914 12386 Pace Targets 1718639208000324 Consumption Benchmark 180 1,440 Pace Percentage 109%123%113%95%175%1400%100%200%119% Total Demand Events 436279142695432931,024 Lost Events 2501739850401881638 Conversion Percentage 43%38%31%28%26%44%11%67%38% Tentative Events 184645421917612205 Peer Set Data: Vancouver, Montreal, Toronto Definite Events 9793411488053341351,653 Pace Targets 9223631578847211121,611 Consumption Benchmark 1,002 8,016 Pace Percentage 106%94% 91%113%162%118%250%103% Total Demand Events 1,7118514532581688645223,594 Lost Events 7325103051781155232171,941 Conversion Percentage 57%40%33%31%32%40%29%23%46% Tentative Events 87241154106616520 754 Peer Set Benchmark Data Definite Event Share % 19%31%30%24%26%41%8%40%23% Demand Event Share % 25%33%31%27%32%37%20%14%28% 8/17/2015

29. Vancouver Sample Strategic Planning Calendar RED – Clearly Need Month Green – Clearly Strong Month Blue – Case By Case Basis 8/17/201529

30. Vancouver 2014 R/NJANFEBMARAPRMAYJUNJULAUGSEPOCTNOVDECTOTAL Definite Room Nights 01,83001,81818,76726,8002,8473,4002,38017,1509,9967885,066 Pace Targets 2,6843,5458,45116,40121,00122,09814,75211,1529,67816,9106,872754134,298 Consumption Benchmark 5,4727,41218,33936,53948,88153,91537,47629,44025,68346,00619,3602,677331,200 Pace Percentage 0%52%0%11%89%121%19%30%25%101%145%10%63% Total Demand Room Nights 1,5601,83042,02524,54832,15732,87835,27750,84730,87448,44637,68778338,207 Lost Room Nights 1,560042,02522,73013,3906,07832,43047,44728,49431,29627,6910253,141 Conversion Percentage 0%100%0%7%58%82%8%7%8%35%27%100%25% Tentative Room Nights 25,25047,4173,51010,2475,1603,8652,8407,5357,27235,5632,0750150,734 Peer Set R/N: Vancouver, Montreal, Toronto Definite Room Nights 1,0004,43021,24036,73446,32793,47543,86441,25045,59021,41213,70578369,105 Pace Targets 12,05011,37225,11939,25968,07072,88557,69239,54134,05947,44819,9672,279429,741 Consumption Benchmark 26,27226,28156,13092,293166,452180,189154,589104,54794,154133,55957,6856,7621,098,913 Pace Percentage 8%39%85%94%68%128%76%104%134%45%69%3%86% Total Demand Room Nights 12,98616,11079,891167,063166,789204,504203,117168,497154,256157,000103,298781,433,589 Lost Room Nights 11,98611,68058,651130,329120,462111,029159,253127,247108,666135,58889,59301,064,484 Conversion Percentage 8%27% 22%28%46%22%24%30%14%13%100%26% Tentative Room Nights 30,75050,14926,25612,8479,53222,64356,88033,68223,03741,45522,6670329,898 Vancouver 2014 Events Definite Events 01023312132119 Pace Targets 11223321221020 Consumption Benchmark 581319232616112223113180 Pace Percentage 0%100%0%100% 50%200%50%150%200%100%95% Total Demand Events 1141078597 6169 Lost Events 10484547674050 Conversion Percentage 0%100%0%20%43%38%20%22%14%30%33%100%28% Tentative Events 12365325771042 Peer Set Events: Vancouver, Montreal, Toronto Definite Events 12712141278556180 Pace Targets 557101312749105188 Consumption Benchmark 404864100131136826011412882171,002 Pace Percentage 20%40%100%120%108%100% 200%56%50%120%100%91% Total Demand Events 4517343233282526 271258 Lost Events 3310221821 1721 0178 Conversion Percentage 25%40%41%35%44%36%25%32%19% 22%100%31% Tentative Events 4313810 715171180106 Peer Set Benchmark Data Definte R/N Share % 0%41%0%5%41%29%6%8%5%80%73%100%23% Demand RN Share % 12%11%53%15%19%16%17%30%20%31%36%100%24% Definte Event Share % 0%50%0%17%21%25%14%25%20%60%33%100%24% Demand Event Share % 25%20%24%29%22%24%18%36%27%38%22%100%27%

31. Vancouver 2014 R/NJANFEBMARAPRMAYJUN Definite Room Nights 01,83001,81818,76726,800 Pace Targets 2,6843,5458,45116,40121,00122,098 Consumption Benchmark 5,4727,41218,33936,53948,88153,915 Pace Percentage 0%52%0%11%89%121% Total Demand Room Nights 1,5601,83042,02524,54832,15732,878 Lost Room Nights 1,560042,02522,73013,3906,078 Conversion Percentage 0%100%0%7%58%82% Tentative Room Nights 25,25047,4173,51010,2475,1603,865 Peer Set R/N: Vancouver, Montreal, Toronto Definite Room Nights 1,0004,43021,24036,73446,32793,475 Pace Targets 12,05011,37225,11939,25968,07072,885 Consumption Benchmark 26,27226,28156,13092,293166,452180,189 Pace Percentage 8%39%85%94%68%128% Total Demand Room Nights 12,98616,11079,891167,063166,789204,504 Lost Room Nights 11,98611,68058,651130,329120,462111,029 Conversion Percentage 8%27% 22%28%46% Tentative Room Nights 30,75050,14926,25612,8479,53222,643 Vancouver 2014 Events Definite Events 010233 Pace Targets 112233 Consumption Benchmark 5813192326 Pace Percentage 0%100%0%100% Total Demand Events 1141078 Lost Events 104845 Conversion Percentage 0%100%0%20%43%38% Tentative Events 123653 Peer Set Events: Vancouver, Montreal, Toronto Definite Events 127121412 Pace Targets 557101312 Consumption Benchmark 404864100131136 Pace Percentage 20%40%100%120%108%100% Total Demand Events 4517343233 Lost Events 3310221821 Conversion Percentage 25%40%41%35%44%36% Tentative Events 4313810

32. Vancouver 2014 R/NJULAUGSEPOCTNOVDECTOTAL Definite Room Nights 2,8473,4002,38017,1509,9967885,066 Pace Targets 14,75211,1529,67816,9106,872754134,298 Consumption Benchmark 37,47629,44025,68346,00619,3602,677331,200 Pace Percentage 19%30%25%101%145%10%63% Total Demand Room Nights 35,27750,84730,87448,44637,68778338,207 Lost Room Nights 32,43047,44728,49431,29627,6910253,141 Conversion Percentage 8%7%8%35%27%100%25% Tentative Room Nights 2,8407,5357,27235,5632,0750150,734 Peer Set R/N: Vancouver, Montreal, Toronto Definite Room Nights 43,86441,25045,59021,41213,70578369,105 Pace Targets 57,69239,54134,05947,44819,9672,279429,741 Consumption Benchmark 154,589104,54794,154133,55957,6856,7621,098,913 Pace Percentage 76%104%134%45%69%3%86% Total Demand Room Nights 203,117168,497154,256157,000103,298781,433,589 Lost Room Nights 159,253127,247108,666135,58889,59301,064,484 Conversion Percentage 22%24%30%14%13%100%26% Tentative Room Nights 56,88033,68223,03741,45522,6670329,898 Vancouver 2014 Events Definite Events 12132119 Pace Targets 21221020 Consumption Benchmark 16112223113180 Pace Percentage 50%200%50%150%200%100%95% Total Demand Events 597106169 Lost Events 47674050 Conversion Percentage 20%22%14%30%33%100%28% Tentative Events 25771042 Peer Set Events: Vancouver, Montreal, Toronto Definite Events 78556180 Pace Targets 749105188 Consumption Benchmark 826011412882171,002 Pace Percentage 100%200%56%50%120%100%91% Total Demand Events 282526 271258 Lost Events 211721 0178 Conversion Percentage 25%32%19% 22%100%31% Tentative Events 715171180106

33. The TAP Report For more information please contact: Jeff Eastman Trends Analysis Projections LLC 12313 West 125 th Terrace Overland Park, KS 66213 Telephone: 913-261-8465 Cell: 913-961-3875 E-mail: jeastman@tapreport.com 338/17/2015