International Hotel Industry - International - October 2003

SUMMARY

Whether the hotel industry is at the core of your business activity or on the fringe, your research into the sector must be able to help you think as big as you want to be.

By examining global market trends, identifying leading hotel companies and consortia, analysing their development strategies and discussing the key issues that will affect the industry over the next decade, Mintel's latest report 'The International Hotel Industry' does precisely that.

Written by industry experts, for industry professionals it's a vital companion to your business decisions in this sector.

The International Hotel Industry' offers you fresh analysis of:

• Economic outlooks
• Hotel performance
• Hotel capacities worldwide
• Structure of the industry
• Hotel product segmentation
• Key trends and issues
• Industry insight - the views of the key players in the international hotel industry
• Company profiles, describing and analysing the top 50 international hotel companies of the world, as well as the 20 leading consortia

Familiarise yourself with the business decisions of:

Cendant, InterContinental, Marriott, International, Accor, Choice Hotels, Hilton Hotels, Starwood, Carlson , Hilton Group plc, Interstate Hotels & ResortsSol Melia, Hyatt and many more chains.

TABLE OF CONTENTS

INTRODUCTION

• OBJECTIVES AND STRUCTURE
• Objectives
• Report structure
• DEFINITIONS AND ABBREVIATIONS
• Hotel companies
• Terminology
• KEY TERMS AND ABBREVIATIONS

ECONOMIC OUTLOOK

• ECONOMIC GROWTH IS REBOUNDING
• Figure 1: GDP growth, by country and region, 2001-06 (annual change in %)
• CONTROLLED INFLATION AND LOW INTEREST RATES
• Figure 2: Interest rates for selected regions and countries, 2002-07
• The outlook for exchange rates
• Figure 3: Average exchange rates, 2002-07
• THE OUTLOOK FOR SPENDING ON TRAVEL AND TOURISM TO 2013
• WORLDWIDE
• Figure 4: Travel & tourism expenditure in the world (US$ BN), 2000-13
• PROJECTED GROWTH IN TRAVEL AND TOURISM EXPENDITURE BY REGION
• Projected growth in travel and tourism expenditure in the EU
• Figure 5: Travel & tourism expenditure in the EU (US$ BN), 2000-13
• Projected growth in travel and tourism expenditure in Other Western Europe
• Figure 6: Travel & tourism expenditure in other Western Europe countries (US$ BN), 2000-13
• Projected growth in travel and tourism expenditure in Central and Eastern Europe
• Figure 7: Travel & tourism expenditure in Central & Eastern Europe (US$ BN), 2000-13
• Projected growth in travel and tourism expenditure in the Middle East
• Figure 8: Travel & tourism expenditure in the Middle East (US$ BN), 2000-13
• Projected growth in travel and tourism expenditure in North Africa
• Figure 9: Travel & tourism expenditure in North Africa (US$ BN), 2000-13
• Projected growth in travel and tourism expenditure in Sub-Saharan Africa
• Figure 10: Travel & tourism expenditure in Sub-Saharan Africa (US$ BN), 2000-13
• Projected growth in travel and tourism expenditure in South Asia
• Figure 11: Travel & tourism expenditure in South Asia (US$ BN), 2000-13
• Projected growth in travel and tourism expenditure in Southeast Asia
• Figure 12: Travel & tourism expenditure in South East Asia (US$ BN), 2000-13
• Projected growth in travel and tourism expenditure in Northeast Asia
• Figure 13: Travel & tourism expenditure in Northeast Asia (US$ BN), 2000-13
• Projected growth in travel and tourism expenditure in Oceania
• Figure 14: Travel & tourism expenditure in Oceania (US$ BN), 2000-13
• Projected growth in travel and tourism expenditure in North America
• Figure 15: Travel & tourism expenditure in North America (US$ BN), 2000-13
• Projected growth in travel and tourism expenditure in the Caribbean
• Figure 16: Travel & tourism expenditure in the Caribbean (US$ BN), 2000-13
• Projected growth in travel and tourism expenditure in Latin America
• Figure 17: Travel & tourism expenditure in Latin America (US$ BN), 2000-13
• INDIVIDUAL COUNTRY RANKINGS
• Top ten countries for total expenditure on travel and tourism
• Figure 18: Top ten countries with the highest total travel & tourism expenditure, 2003 and 2013
• Top ten countries for expenditure on domestic personal travel and tourism
• Figure 19: Top ten countries with the highest domestic personal travel & tourism expenditure, 2003 and 2013
• Top ten countries for expenditure on domestic business travel and tourism
• Figure 20: Top ten countries with the highest domestic business travel & tourism expenditure, 2003 and 2013
• Top ten countries for inbound tourism receipts
• Figure 21: Top ten countries with the highest inbound tourism receipts, 2003 and 2013
• THE TREND IN OUTBOUND EXPENDITURE
• Figure 22: Real spending on outbound trips for the top 30 origin countries (excluding fares), 1999 and 2015
• CONCLUSION

HOTEL PERFORMANCE

• Worldwide
• Figure 23: Worldwide hotel performance, 1999 and 2002
• Figure 24: Chain hotel performance compared to independents, 2002
• Figure 25: Worldwide hotel performance, by class and size of hotel, 2002
• Figure 26: Worldwide hotel performance, by class and size of hotel, 2002
• Figure 27: Average hotel performance, by region, 2002
• Figure 28: Hotel profitability, by region, 2002
• Hotel client profile
• Figure 29: Source of hotel business by client profile, 2002
• AFRICA AND MIDDLE EAST
• Figure 30: Geographic origin of clients in chain hotels, Africa and Middle East, 2002
• Figure 31: Geographic origin of clients in independent hotels, Africa and Middle East, 2002
• Figure 32: Hotel performance in Africa and the Middle East, by class and size of hotel, 2002
• Figure 33: Hotel profitability in Africa and the Middle East, by class and size of hotel, 2002
• The Middle East
• Figure 34: Hotel performance, by major city in the Middle East, 2001/02
• SOUTH AFRICA
• Figure 35: Hotel performance, by major city in South Africa, first quarter, 2002/03
• ASIA
• Figure 36: Geographic origin of clients in chain hotels, 2002
• Figure 37: Geographic origin of clients in independent hotels, 2002
• Figure 38: Hotel performance in Asia, by class and size of hotel, 2002
• Figure 39: Hotel profitability in Asia, by class and size of hotel, 2002
• Hotel performance by sub-region
• Figure 40: Five-star hotel performance by major city/resort in East Asia, first quarter, 2002/03
• Figure 41: Five-star hotel performance, by major city in India, 2001/02 and 2002-03
• OCEANIA
• Figure 42: Geographic origin of clients in chain hotels, 2002
• Figure 43: Geographic origin of clients in independent hotels, 2002
• Figure 44: Hotel performance in Oceania, by class and size of hotel, 2002
• Figure 45: Hotel profitability in Oceania, by class and size of hotel, 2002
• AUSTRALIA
• Figure 46: Overall hotel performance in Australia, 1st half, 2002 and 2003
• NEW ZEALAND
• EUROPE
• Figure 47: Geographic origin of clients in chain hotels, 2002
• Figure 48: Geographic origin of clients in independent hotels, 2002
• Figure 49: Hotel performance in Europe, by class and size of hotel, 2002
• Figure 50: Hotel profitability in Europe, by class and size of hotel, 2002
• Hotel performance in Europe by star grade
• Figure 51: Chain hotel performance in EU countries, by star grade, 2001/02
• Hotel performance in Europe by major country
• Figure 52: Chain hotel performance, by selected country in the EU, 1st half, 2002/03
• Hotel performance by major European city
• Figure 53: Upscale hotel performance in European cities ranked by RevPAR, 2001/02
• NORTH AMERICA
• Figure 54: Geographic origin of clients in chain hotels, 2002
• Figure 55: Geographic origin of clients in independent hotels, 2002
• Figure 56: Hotel performance in North America, by class and size of hotel, 2002
• Figure 57: Hotel profitability in North America, by class and size of hotel, 2002
• The USA
• Figure 58: The trend in US hotel performance, 1993-2002
• Figure 59: Hotel performance in the 15 biggest markets ranked by room capacity and Hawaii, 2002
• Canada
• Figure 60: Hotel performance by major city and province in Canada, 1st half, 2002 and 2003
• SOUTH AMERICA
• Figure 61: Geographic origin of clients in chain hotels, 2002
• Figure 62: Geographic origin of clients in independent hotels, 2002
• Figure 63: Hotel performance in South America, by class and size of hotel, 2002
• Figure 64: Hotel performance in South America, by class and size of hotel, 2002
• Hotel performance by sub-region
• Figure 65: Hotel performance in Latin America, by major city, 12 months to May 2003
• Figure 66: Hotel performance in Buenos Aires, 1st half, 2002 and 2003

HOTEL CAPACITY WORLDWIDE

• Figure 67: Number of rooms in hotels and similar establishments worldwide, 1997-2002
• AMERICAS
• Latin America
• Figure 68: Tourism lodging establishments in Argentina in 2000 (no. of units)
• Figure 69: Trend in the number of rooms in hotels and similar establishments in selected Latin American countries, 1996-2000
• The Caribbean
• Figure 70: Trend in room supply in the Top 10 Caribbean destinations, 1996-2000
• Canada
• Figure 71: Capacity breakdown and supply and demand trends for upscale hotels by major
• Canadian city and province, six months ending in June 2003
• USA
• Figure 72: Hotel capacity in the USA broken down by type (existing capacity and pipeline planned or under construction), May 2003
• Figure 73: Growth rates in hotel supply and demand, 1998-2002
• Figure 74: Current and upcoming hotel capacity in the USA broken down by region, May 2003
• Figure 75: Capacity under construction as a percentage of existing hotel stock, 2003-05
• Hotel property value trends in the USA
• Figure 76: Trend in hotel property values in the USA, 1998-2005
• Figure 77: Percentage change in value in the 10 most expensive cities/regions, 2001-02
• Figure 78: Capitalization rate data, 2003
• ASIA-PACIFIC
• Australia & New Zealand
• Figure 79: Hotel capacity trend in Australia, 2001-02
• EAST ASIA
• China
• Japan
• Figure 80: Trend in Japanese hotel stock, 1992-2000
• Thailand
• Figure 81: Trend in the number of rooms in hotels and similar establishments in Thailand, 1996-2000
• Figure 82: Trend in hotel capacity in the seven major destinations in Thailand, 1998-2001
• Other East Asian Countries
• Figure 83: Trend in the number of rooms in hotels and similar establishments in selected East Asian countries, 1996-2000
• Hotel property value trends in East Asia
• Figure 84: Trend in five-star hotel values per room in East Asia, 1998-2002
• SOUTH ASIA
• Sri Lanka
• Figure 85: Accommodation by category in Sri Lanka, 2002
• India & Pakistan
• Figure 86: Approved hotel and room capacity in India, 1997-2001
• Hotel property value trends in South Asia
• Figure 87: Trend in five-star hotel property values in India-annual % change calculated in rupees, 1998/99-2002/03
• EUROPE
• Figure 88: Chain hotel capacity in EU countries by star grade, 2003/02
• Germany
• Figure 89: Breakdown of registered lodging capacity in Germany, 1981-2001
• France
• Figure 90: Breakdown of French hotel capacity by category at 1 January 2003
• Figure 91: Breakdown of French hotel room capacity by type of location at 1 January 2003
• UK
• Figure 92: UK hotels registered with tourist boards, 2000/02
• Italy
• Figure 93: Trend in hotel room capacity by category, 1990-99
• Spain
• Figure 94: Breakdown of available hotel capacity by grade in 2002
• Figure 95: Breakdown of Spanish hotel capacity by principal tourist region, 2001
• Portugal
• Figure 96: Trend in the number of rooms in hotels and similar establishments in Portugal, 1996-2000
• Benelux
• Figure 97: Trend in the number of rooms in hotels and similar establishments in Belgium & the Netherlands, 1996-2000
• Alpine Region
• Figure 98: Swiss hotel capacity by size of hotel in 2002
• Nordic area
• Figure 99: Trend in the number of rooms in hotels and similar establishments in Nordic countries, 1996-2000
• Eastern Europe
• Figure 100: Trend in the number of rooms in hotels and similar establishments in selected Eastern European countries, 1996-2000
• Eastern Mediterranean
• Figure 101: Trend in the number of rooms in hotels and similar establishments in Eastern Mediterranean countries, 1996-2000
• Hotel property value trends in Europe
• Figure 102: Trend in four- and five-star hotel values per room in Europe, 1998-2002
• MIDDLE EAST
• Figure 103: Trend in the number of rooms in hotels and similar establishments in Egypt and the United Arab Emirates, 1996-2000
• Dubai
• AFRICA
• Figure 104: Trend in the number of rooms in hotels and similar establishments in Morocco, Tunisia and South Africa, 1996-2000
• Figure 105: Trend in accommodation capacity by type in Tunisia, 1995-2000 (Number of beds in '000)

STRUCTURE OF THE INDUSTRY

• The biggest chains
• Figure 106: The top 50 hotel groups in the world by rooms capacity, 2002/01
• International Presence of the major chains
• Figure 107: International presence of major hotel groups
• Chain penetration by region
• Figure 108: Branded rooms by region
• THE AMERICAS
• Chain penetration in Latin America
• Chain penetration in the USA
• Figure 109: Top ten brands by segment and hotel capacity in the USA, 2003
• Figure 110: Percentage of active pipeline by room count, top 20 brands
• Chain penetration in Canada
• Figure 111: Top five hotel groups in Canada, 2001
• Chain penetration in Asia-Pacific
• Figure 112: Top ten hotel chains in the Asia-Pacific region
• Chain penetration in Australia
• Figure 113: The top ten hotel groups in Australia in 2002
• Chain penetration in China
• Chain penetration in Japan
• Chain penetration in Europe
• Figure 114: Chain penetration in selected European countries
• The biggest hotel groups in Europe
• Figure 115: Ten largest hotel operating companies in the EU by room capacity, 2002
• Figure 116: Ten largest hotel brands in the European Union by room capacity, at 1 January 2003
• Chain penetration in France
• Accor
• Soci?·du Louvre/Groupe Envergure
• Figure 117: Top ten hotel operators in France, 2001-02
• Chain penetration in Germany
• Figure 118: Percent of hotel groups by size category
• Figure 119: Top 10 hotel operators in Germany (sorted by room capacity)
• Chain penetration in Italy
• Figure 120: Top ten hotel operators in Italy, 2002
• Chain penetration in Spain
• Figure 121: The ten largest hotel operators in Spain
• Paradisus Resorts is the chain's five-star all-inclusive brand
• System Hotels- budget class
• Chain penetration in the UK
• Figure 122: Top ten hotel operating companies in the UK
• InterContinental
• Whitbread
• Figure 123: Top ten hotel brands in the UK at end 2002
• Hilton Group
• Travelodge
• Thistle Hotels
• EASTERN EUROPE
• MIDDLE EAST
• AFRICA
• South Africa
• Figure 124: Southern Sun, rooms by brand, 2002
• Figure 125: Southern Sun, portfolio by brand and region, 2002
• Tunisia

HOTEL PRODUCT SEGMENTATION AND BRAND EXTENSION

• HOTEL PRODUCT SEGMENTATION
• Budget hotels
• Figure 126: Per room construction costs for a typical 100-room budget property
• Suite hotels
• Airport hotels
• Conference centres
• Dolce Conference Centers
• Convention hotels
• Casino hotels
• Boutique hotels
• Figure 127: Leading boutique operators in Europe and North America
• HOTEL CHAIN BRAND EXTENSION
• Serviced apartments (extended stay)
• Figure 128: Features offered by serviced apartments by product type
• Senior living centres
• Figure 129: Hyatt senior living communities by category, 2003
• Figure 130: Hyatt senior living unit facilities, 2003
• Timeshare
• Figure 131: Marriott's timeshare brands
• Figure 132: Marriott's timeshare resort locations
• BRAND EXTENSION INTO THE HOTEL SECTOR
• McDonald's experiments with hotels in Switzerland
• Italian luxury goods producers in the hotel business
• Bulgari/Marriott
• Ferragamo
• Versace
• Cerutti/Rezidor SAS

KEY TRENDS AND ISSUES

• TRENDS IN AFFILIATION AND ASSET MANAGEMENT STRUCTURES
• Leasing
• Figure 133: Sale-leaseback transactions in Europe, 2000-02
• Management contracts
• Figure 134: Companies that managed the most hotels, 2002
• Trends in hotel franchising
• Figure 135: Companies that franchised the most hotels, 2002
• Consortia or voluntary chains
• Distribution channels
• Figure 136: Composition of advance reservations by percentage, by region
• Figure 137: Composition of electronic central reservations, 2001-02
• Figure 138: Consumer online spending on hotels ($ BN)
• Figure 139: The top ten third party Internet distribution sites as reported by E-Trak participants in order of 2002 hotel reservation production
• Figure 140: Market share of the top 5 companies for online third party hotel reservations in the first quarter of 2003
• CUSTOMER LOYALTY PROGRAMMES
• IN-HOUSE TECHNOLOGY AND DESIGN FEATURES
• SECURITY
• OUTSOURCING
• SPAS
• THE ENVIRONMENT

INDUSTRY INSIGHT

• CUSTOMER BASE
• Market sectors with strongest prospects
• ONLINE TRAVEL BOOKINGS
• IMPACT OF LOW-COST AIRLINES
• SECURITY ISSUES AND INSURANCE COSTS
• LOYALTY SCHEMES
• BEST PERFORMING DESTINATIONS
• EXPANSION PLANS BY GEOGRAPHICAL AREA UNTIL 2015
• EXPANSION PLANS FOR NICHE MARKETS
• EMERGING MARKETS

MAJOR HOTEL COMPANIES

• ACCOR
• Figure 141: Accor, sales by activities, 2002
• Figure 142: Accor, sales by region, 2002
• Figure 143: Accor, portfolio by brand and region, 2002
• Figure 144: Accor, portfolio by brand and management structure, 2002
• Figure 145: Accor, operating results, 1998-2002
• Figure 146: Accor, revenues breakdown by activity, 2001-02
• Figure 147: Accor, occupancy, ADR and RevPAR, 2002 and 2001
• BARCEL? HOTELS & RESORTS
• Figure 148: Barcel· hotels by rating, 1988-2002
• Figure 149: Barcel· branding, 2002
• Figure 150: Barcel· portfolio by region and business model, 2002
• Figure 151: Barcel·Hotels & Resorts, operating results, 2001
• Figure 152: Barcel·Hotels & Resorts, pipeline growth, 2003-05
• CARLSON
• Figure 153: Carlson Hotels Worldwide, portfolio by brand and region
• Figure 154: Carlson Hotels Worldwide, portfolio by brand and business model
• Figure 155: Rezidor SAS Hospitality AS, operating results and key financial data, 1998-2002
• Figure 156: Hotels under development in Asia, 2003-04
• Figure 157: Radisson SAS hotels under development
• CENDANT
• Figure 158: Cendant, revenue by sector, 2002
• Figure 159: Cendant Corporation, portfolio by brand and geographic region, 2003
• Figure 160: Cendant Corporation, operating results, 2000-02
• Figure 161: Cendant, occupancy, ADR and RevPAR, by brand, 2002
• CHOICE HOTELS
• Figure 162: Choice Hotels International, portfolio by region, 2003
• Figure 163: Choice Hotels International, portfolio by brand, 2002
• Figure 164: Choice Hotels International, operating results, 1998-2002
• Figure 165: Choice Hotels (US), occupancy, ADR and RevPAR, by brand, 2002 and 2003
• Figure 166: Choice Hotels International, pipeline growth by brand, 2003
• CLUB MED
• Figure 167: Club M?iterran?, revenue by region and activity, 2002
• Figure 168: Club M?iterran?, portfolio by product and region, 2002
• Figure 169: Club M?iterran?, capacity portfolio by business model and region, 2002
• Figure 170: Club M?iterran?, key operating results, 1998-2002
• Figure 171: Club M?iterran?, occupancy rate, 1998-2002
• DISNEY
• Figure 172: The Walt Disney Company, revenue by division, 2002
• Figure 173: Disneyland, resort & convention space
• Figure 174: Walt Disney World, resort & convention space
• Figure 175: Disneyland Paris, resort accommodation
• Figure 176: Walt Disney Parks & Resorts, operating results, 1998-2002
• DORINT
• Figure 177: Dorint Group, portfolio by service-level and country
• Figure 178: Dorint, growth in portfolio, 1999-2002
• Figure 179: Dorint AG, operating results, 1999-2002
• EXTENDED STAY AMERICA
• Figure 180: Growth in number of hotels, by brand, 1998-2002
• Figure 181: Extended Stay America, operating results, 1998-2002
• Figure 182: Extended Stay America, occupancy rate and average weekly rate, 2001 and 2002
• FAIRMONT HOTELS & RESORTS
• Figure 183: Fairmont, portfolio by brand and region, 2002
• Figure 184: Fairmont Hotels & Resorts, operating results, 2000-02
• Figure 185: Fairmont Hotels & Resorts, occupancy, ADR and RevPAR, 2002 and 2001
• FELCOR
• Figure 186: FelCor, EBITDA contribution by brand, 2002
• Figure 187: FelCor, portfolio by brand, 2002
• Figure 188: FelCor, portfolio by size of real estate holding, 2002
• Figure 189: FelCor, key financial indicators, 1998-2002
• Figure 190: FelCor, occupancy, ADR, RevPAR, 2001 and 2002
• Figure 191: FelCor, some of the properties on sale, February 2003
• FOUR SEASONS HOTELS & RESORTS
• Figure 192: Customer base by purpose of travel, by % of room nights, 2002
• Figure 193: Four Seasons, revenue contribution by region, 2002
• Figure 194: Four Seasons Hotels, growth in number of managed hotels, by region, 1998-2002
• Figure 195: Four Seasons Hotels, operating results, 1998-2002
• Figure 196: Four Seasons core hotels, occupancy rate, ADR and RevPAR, by region, 2001 and 2002
• FUJITA KANKO
• Figure 197: Fujita Kanko, revenue by activity, 2000
• Figure 198: Fujita Kanko, operating results, 2000-02
• GOLDEN TULIP
• Figure 199: Tulip Hotels, Inns & Resorts, portfolio by region, 2002
• Figure 200: Golden Tulip, centrally-generated revenue, 2002
• GRUPO POSADAS
• Figure 201: Grupo Posadas, portfolio by country and brand, 2002
• Figure 202: Group Posadas, room distribution by business model, 2003
• Figure 203: Grupo Posadas, operating results, 2001-02
• Figure 204: Grupo Posadas, occupancy, ADR and RevPAR, 2001 and 2002
• Figure 205: Grupo Posadas, EBITDA, 1998-2002
• Figure 206: Grupo Posadas, pipeline growth, 2003-05
• HILTON HOTELS CORPORATION
• Figure 207: Hilton Hotels Corporation, portfolio by brand
• Figure 208: Hilton Hotels Corporation, portfolio by business model
• Figure 209: Hilton Hotels Corporation, operating results, 1998-2002
• Figure 210: Hilton Hotels Corporation, RevPAR by brand, 2002 and 2001
• Figure 211: Planned growth in 2003, split by brand
• HILTON INTERNATIONAL
• Figure 212: Hilton International, portfolio by brand and region
• Figure 213: Hilton International, portfolio by region and management contract, 2002
• Figure 214: Hilton Group plc, key operating results, 1998-2002
• Figure 215: Hilton International, RevPAR, 2001-02
• Figure 216: Hilton International, hotel operating results by region, 2001-02
• Figure 217: Hilton International, pipeline hotels, 2003-05
• HYATT
• Figure 218: Hyatt, selected hotel portfolio by brand and region
• Figure 219: Hyatt International, pipeline growth, 2003-07
• INTERCONTINENTAL
• Figure 220: InterContinental Hotels, turnover by division, 2002
• Figure 221: InterContinental Hotels Group, portfolio by brand
• Figure 222: InterContinental, portfolio by management contract, 2002
• Figure 223: InterContinental Hotels (as Six Continents' hotels divison), operating results, 1998-2002
• Figure 224: InterContinental Hotels, operating results by region, 2001-02
• INTERSTATE HOTELS & RESORTS
• Figure 225: Interstate Hotels & Resorts, selected portfolio by brand and country
• Figure 226: Interstate Hotels, key operating results, 1998-2002
• Figure 227: Interstate Hotels, occupancy, ADR and RevPAR, 2001 and 2002
• JIN JIANG
• Figure 228: Jin Jiang Group, selected portfolio by rating and location
• JOLLY HOTELS
• Figure 229: Jolly Hotels, portfolio by region and management contract, 2002
• Figure 230: Jolly Hotels, operating results, 1999-2002
• Figure 231: Guests at Jolly Hotels' Italian properties, by region, 1998 and 2002
• Figure 232: Jolly Hotels, RevPAR, 2001 and 2002
• JURYS DOYLE
• Figure 233: Jurys Doyle, revenue, by region, 2002
• Figure 234: Jury's Inn, portfolio by country and market segment, 2002
• Figure 235: Jurys Doyle, operating results, 2001 and 2002
• Figure 236: Jurys Doyle, operating results, 1998-2001
• LA QUINTA INNS
• Figure 237: La Quinta Inns, hotel portfolio by brand, 1998-2002
• Figure 238: La Quinta Inns, operating results, 1998-2002
• Figure 239: La Quinta Inns, occupancy, ADR and RevPAR, 2001 and 2002
• LE M?RIDIEN
• Figure 240: Le M?idien & Nikko Hotels, portfolio by brand and region, 2002
• LODGIAN
• Figure 241: Lodgian Inc, portfolio by brand owner, 2002
• Figure 242: Lodgian Inc, operating results, 1998-2002
• Figure 243: Lodgian Inc, occupancy, ADR and RevPAR, 2001 and 2002
• MANDALAY RESORT GROUP
• Figure 244: Mandalay Resort Group, revenue by source, 2002/03
• Figure 245: Mandalay Resort Group, operating results, 1998/99-2002/03
• Figure 246: Mandalay Resort Group, occupancy, ADR and RevPAR, 2002/03 and 2001/02
• MARRIOTT
• Figure 247: Marriott, sales and EBITDAR by activities, 2002
• Figure 248: Marriott International, portfolio of hotels by brand
• Figure 249: Marriott International, operating results, 1998-2002
• Figure 250: Marriott lodging, occupancy, ADR and RevPAR by brand, 2001 and 2002
• MERISTAR HOSPITALITY CORPORATION
• Figure 251: Meristar Hospitality, portfolio by brand and country
• Figure 252: Meristar Hospitality, operating results, 2000-02
• Figure 253: Meristar Hospitality, occupancy, ADR and RevPAR, 2001 and 2002
• MILLENNIUM & COPTHORNE
• Figure 254: Millennium & Copthorne Hotels, hotel turnover by region, 2002
• Figure 255: Millennium & Copthorne, portfolio by brand and region, 2002
• Figure 256: Millennium & Copthorne Hotels, operating results, 1998-2002
• Figure 257: Millennium & Copthorne Hotels, occupancy, ADR and RevPAR, 2001 and 2002
• NH HOTELES
• Figure 258: NH Hoteles, revenue by business unit, 2002
• Figure 259: NH Hoteles, portfolio by region
• Figure 260: NH Hoteles, portfolio by region and business model, 2002
• Figure 261: NH Hoteles, operating results, 1999-2002
• NIKKO
• Figure 262: Le M?idien & Nikko Hotels, portfolio by brand and region, 2002
• ORBIS
• Figure 263: Orbis, portfolio by brand and region, 2002
• Figure 264: Orbis Group, operating results, 2000-02
• Figure 265: Orbis Group, occupancy, ADR and RevPAR, 2001 and 2002
• PANDOX
• Figure 266: Pandox income by type of lease, 2002
• Figure 267: Pandox, portfolio by brand and region, 2002
• Figure 268: Pandox, operating results, 1998-2002
• Figure 269: Guest nights, by origin of guest, 2002
• PRIME HOSPITALITY
• Figure 270: Prime Hospitality, revenue by category, 2002
• Figure 271: Prime Hospitality, portfolio by brand and region, 1999-2002
• Figure 272: Prime Hospitality, operating results, 1998-2002
• Figure 273: Prime Hospitality, occupancy, ADR and RevPAR, 2001 and 2002
• PRINCE HOTELS
• Figure 274: Prince Hotels, Japanese portfolio by region
• Figure 275: Prince Hotels, international portfolio by country
• RAFFLES INTERNATIONAL
• Figure 276: Raffles International, revenue by region, 2002
• Figure 277: Raffles, portfolio by brand and region, 2002
• Figure 278: Raffles Hotel Holdings, key financial indicators, 1998-2002
• ROTANA
• Figure 279: Rotana Hotels, portfolio
• SHANGRI-LA
• Figure 280: Shangri-La Hotels & Resorts, portfolio by brand and country
• Figure 281: Shangri-La Group, operating results, 1998-2002
• Figure 282: Shangri-La Hotels, pipeline growth, 2003-07
• SOCI?T? DU LOUVRE
• Figure 283: Soci?·du Louvre, consolidated revenues by division, 2002
• Figure 284: Concorde Hotel Group, hotel porfolio by region, 2002
• Figure 285: Soci?·du Louvre, economy hotel portfolio by brand and country
• Figure 286: Soci?·du Louvre, economy hotel portfolio by brand and management contract, 2002
• Figure 287: Soci?·du Louvre, operating results, 1998-2002
• Figure 288: Soci?·du Louvre, sales and gross operating profit, by division, 2001 and 2002
• Figure 289: Soci?·du Louvre, occupancy rate, ADR and RevPAR, 2001 and 2002
• SOL MELI?
• Figure 290: Sol Meli· portfolio by brand and region, 2003
• Figure 291: Growth of Sol Meli· 1998-2002
• Figure 292: Sol Meli· types of management contracts, by % of rooms, 2002
• Figure 293: Sol Meli· operating results, 1998-2002
• Figure 294: Sol Meli· occupancy rate, ADR and RevPAR - owned and leased hotels, 2001 and 2002
• Figure 295: Sol Meli· pipeline growth, 2003-05
• SOUTHERN SUN
• Figure 296: Southern Sun, rooms by brand, 2002
• Figure 297: Southern Sun, portfolio by brand and region, 2002
• Figure 298: Southern Sun, operating results, 1998-2002
• Figure 299: Southern Sun Hotels, occupancy and RevPAR, 2002 and 2003
• STARWOOD
• Figure 300: Starwood, portfolio by region, 2003
• Figure 301: Starwood, portfolio by brand, 2003
• Figure 302: Starwood, portfolio by brand and management structure, 2002
• Figure 303: Starwood Hotels & Resorts, operating results, 1998-2002
• Figure 304: Starwood Hotels & Resorts, occupancy, ADR and RevPAR, 2001 and 2002
• Figure 305: Starwood Hotels in development, Four Points, St. Regis, W and Westin brands
• TAJ
• Figure 306: Taj Hotels Group, portfolio by brand and region, 2002
• Figure 307: The Indian Hotels Company, operating results, 2000/01-2002/03
• TOKYU
• Figure 308: Tokyu Corporation, revenue by activity, 2002
• Figure 309: Tokyu Hotels, portfolio by brand and region
• Figure 310: Pan Pacific Hotels, portfolio by country
• Figure 311: Tokyu Hotels, operating results, 2001-02
• TUI GROUP
• Figure 312: TUI Group, turnover by product, 2002
• Figure 313: TUI Group, portfolio by company, 2002
• Figure 314: TUI Group, operating results, 1998-2002
• Figure 315: TUI Group, tourism - destinations divisions, operating results, 2001-02
• US FRANCHISE SYSTEMS
• Figure 316: US Franchise Systems, portfolio by brand
• WESTMONT HOSPITALITY GROUP
• WHITBREAD
• Figure 317: Whitbread revenue by division, 2002/03
• Figure 318: Whitbread, portfolio by brand, 2003
• Figure 319: Whitbread, operating results by division, 2001/02-2002/03
• WYNDHAM INTERNATIONAL
• Figure 320: Wyndham, owned and leased portfolio by brand and region, 2002
• Figure 321: Wyndham, portfolio by brand and business model, 2002
• Figure 322: Wyndham International, operating results, 1998-2002
• Figure 323: Wyndham International, occupancy, ADR and RevPAR, 2001 and 2002

LEADING CONSORTIA

• BEST WESTERN
• Figure 324: Best Western hotels portfolio
• DESIGN HOTELS
• Figure 325: Design Hotels portfolio
• HISTORIC HOTELS OF AMERICA
• Figure 326: Historic Hotels of America, portfolio, 2003
• HOTUSA
• Figure 327: Hotusa portfolio
• ILA - CHATEAUX & HOTELS DE CHARME
• Figure 328: ILA - Chateaux & Hotel de Charme
• INDECORP
• Figure 329: IndeCorp, portfolio by brand
• KEYTEL SA
• THE LEADING HOTELS OF THE WORLD
• Figure 330: Leading Hotels of the World, portfolio, by region
• LEXINGTON SERVICES
• LOGIS DE FRANCE
• Figure 331: Logis de France, hotels by region
• MINOTEL
• Figure 332: Minotel selected portfolio
• RELAIS & CH?TEAUX
• Figure 333: Relais & Ch?eaux, portfolio, by region
• RINGHOTELS
• Figure 334: Ringhotels, Portfolio by land
• SRS-WORLDHOTELS
• Figure 335: SRS-WORLD HOTELS, portfolio
• SUPRANATIONAL
• Figure 336: Supranational Hotels, portfolio by chains, 2003
• SYNXIS
• TOP INTERNATIONAL
• Figure 337: Top International Hotels, portfolio
• UNIREZ
• UTELL
• Figure 338: Utell, major brands in portfolio
• VIP INTERNATIONAL

APPENDIX: RESEARCH METHODOLOGY

INDEX OF REPORTS

• Figure 40: Five-star hotel performance by major city/resort in East Asia, first quarter, 2002/03
• Figure 41: Five-star hotel performance, by major city in India, 2001/02 and 2002-03
• OCEANIA
• Figure 42: Geographic origin of clients in chain hotels, 2002
• Figure 43: Geographic origin of clients in independent hotels, 2002
• Figure 44: Hotel performance in Oceania, by class and size of hotel, 2002
• Figure 45: Hotel profitability in Oceania, by class and size of hotel, 2002
• AUSTRALIA
• Figure 46: Overall hotel performance in Australia, 1st half, 2002 and 2003
• NEW ZEALAND
• EUROPE
• Figure 47: Geographic origin of clients in chain hotels, 2002
• Figure 48: Geographic origin of clients in independent hotels, 2002
• Figure 49: Hotel performance in Europe, by class and size of hotel, 2002
• Figure 50: Hotel profitability in Europe, by class and size of hotel, 2002
• Hotel performance in Europe by star grade
• Figure 51: Chain hotel performance in EU countries, by star grade, 2001/02
• Hotel performance in Europe by major country
• Figure 52: Chain hotel performance, by selected country in the EU, 1st half, 2002/03
• Hotel performance by major European city
• Figure 53: Upscale hotel performance in European cities ranked by RevPAR, 2001/02
• NORTH AMERICA
• Figure 54: Geographic origin of clients in chain hotels, 2002
• Figure 55: Geographic origin of clients in independent hotels, 2002
• Figure 56: Hotel performance in North America, by class and size of hotel, 2002
• Figure 57: Hotel profitability in North America, by class and size of hotel, 2002
• The USA
• Figure 58: The trend in US hotel performance, 1993-2002
• Figure 59: Hotel performance in the 15 biggest markets ranked by room capacity and Hawaii, 2002
• Canada
• Figure 60: Hotel performance by major city and province in Canada, 1st half, 2002 and 2003
• SOUTH AMERICA
• Figure 61: Geographic origin of clients in chain hotels, 2002
• Figure 62: Geographic origin of clients in independent hotels, 2002
• Figure 63: Hotel performance in South America, by class and size of hotel, 2002
• Figure 64: Hotel performance in South America, by class and size of hotel, 2002
• Hotel performance by sub-region
• Figure 65: Hotel performance in Latin America, by major city, 12 months to May 2003
• Figure 66: Hotel performance in Buenos Aires, 1st half, 2002 and 2003

HOTEL CAPACITY WORLDWIDE

• Figure 67: Number of rooms in hotels and similar establishments worldwide, 1997-2002
• AMERICAS
• Latin America
• Figure 68: Tourism lodging establishments in Argentina in 2000 (no. of units)
• Figure 69: Trend in the number of rooms in hotels and similar establishments in selected Latin American countries, 1996-2000
• The Caribbean
• Figure 70: Trend in room supply in the Top 10 Caribbean destinations, 1996-2000
• Canada
• Figure 71: Capacity breakdown and supply and demand trends for upscale hotels by major
• Canadian city and province, six months ending in June 2003
• USA
• Figure 72: Hotel capacity in the USA broken down by type (existing capacity and pipeline planned or under construction), May 2003
• Figure 73: Growth rates in hotel supply and demand, 1998-2002
• Figure 74: Current and upcoming hotel capacity in the USA broken down by region, May 2003
• Figure 75: Capacity under construction as a percentage of existing hotel stock, 2003-05
• Hotel property value trends in the USA
• Figure 76: Trend in hotel property values in the USA, 1998-2005
• Figure 77: Percentage change in value in the 10 most expensive cities/regions, 2001-02
• Figure 78: Capitalization rate data, 2003
• ASIA-PACIFIC
• Australia & New Zealand
• Figure 79: Hotel capacity trend in Australia, 2001-02
• EAST ASIA
• China
• Japan
• Figure 80: Trend in Japanese hotel stock, 1992-2000