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www.pinnacle-advisory.com Area Review Increasingly Diversified Economy Strong Growth in Biotech Rejuvenation of Downtown Worcester Centrum Centre Historic Lodging Market Worcester Traditionally Lagged Behind the Rest of the State Worcester Area Comp Set Holiday Inn Crowne Plaza

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Presentation Transcript
slide2

Area Review

Increasingly Diversified Economy

Strong Growth in Biotech

Rejuvenation of Downtown Worcester

Centrum Centre

slide3

Historic Lodging Market

Worcester Traditionally Lagged

Behind the Rest of the State

slide4

Worcester Area Comp Set

Holiday Inn

Crowne Plaza

Beechwood Hotel

Regency Suites

Hampton Inn

Courtyard by Marriott

Ramada Woburn

slide14

Factors Affecting Demand in 2002

Corporate – The Economy

Group – The Economy and Capacity

Leisure – The Economy, New Competition

Contract – The Economy

Extended-Stay – The Economy, New Supply

slide15

Proposed New Supply

Extended- Stay Hotel – Plantation Towers

Residence Inn – Downtown

Residence Inn – Auburn

Full-Service Hotel – Centrum Centre

Hampton Inn – Auburn

slide16

Projected Performance

2002

Occupancy: Down Two Points (70%)

Average Room Rate: Up 0.5% ($91.50)

RevPAR: Down 2.3% ($64.05)