Greater Phoenix Hotels Post Impressive Performance Gains Across the Board

Revenue per Available Room up Over 50% Compared to National Average

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. October 14, 2008

PHOENIX, AZ, Ocotber 28, 2005. As a market, Greater Phoenix hotels and resorts experienced an impressive increase across major performance indicators through the first three quarters of 2005, as compared to 2004.

In fact, Greater Phoenix easily surpassed the national average in all five major indicators, including RevPAR, which rose 12.6% over the first three quarters of 2004. The national average was 8.0%.

Through the first three quarters of 2005, Greater Phoenix also improved its occupancy 5.3% (2.7% was the national average), its average daily rate 7.0% (5.1%), its rooms sold 4.6% (3.1%) and its room revenue 11.9% (8.4%) - as compared to the first three quarters of 2004.

"These numbers indicate that Phoenix is only improving upon its standing as one of the most desirable destinations in the United States," said Scott White, executive vice president for the Greater Phoenix Convention & Visitors Bureau (GPCVB). "Our hotels and resorts continue to report that demand for their product is up dramatically, and as our high season approaches, we have every reason to believe these positive trends will continue."