ALBUQUERQUE SUITE HOSPITALITY PROPERTIES FINANCIALS
For the Period Ended October 31, 2011
	JAN	FEB	MAR	1Q Total	APRIL	MAY	JUNE	2Q Total	JULY	AUG	SEPT	3Q Total	OCT	NOV	DEC	4Q Total	Year End

SUITES AVAILABLE
2002	3131	2828	3131	9090	3030	3131	3030	9191	3131	3131	3030	9292	3131	3030	3131	9292	36865
2003	3131	2828	3131	9090	3030	3131	3030	9191	3131	3131	3030	9292	3131	3030	3131	9292	36865
2004	3131	2929	3131	9191	3030	3131	3030	9191	3131	3131	3030	9292	3131	3030	3131	9292	36966
2005	3131	2828	3131	9090	3030	3131	3030	9191	3131	3131	3030	9292	3131	3030	3131	9292	36865
2006	3131	2828	3131	9090	3030	3131	3030	9191	3131	3131	3030	9292	3131	3030	3131	9292	36865
2007	3131	2828	3131	9090	3030	3131	3030	9191	3131	3131	3030	9292	3131	3030	3131	9292	36865
2008	3131	2929	3131	9191	3030	3131	3030	9191	3131	3131	3030	9292	3131	3030	3131	9292	36966
2009	3131	2828	3131	9090	3030	3131	3030	9191	3131	3131	3030	9292	3131	3030	3131	9292	36865
2010	3131	2828	3131	9090	3030	3131	3030	9191	3131	3131	3030	9292	3131	3030	3131	9292	36865
2011	3131	2828	3131	9090	3030	3131	3030	9191	3131	3131	3030	9292	3131	3030	3131	9292	36865
2012	3131	2929	3131	9191	3030	3131	3030	9191	3131	3131	3030	9292	3131	3030	3131	9292	36966
REVENUE SUITES
2002	1753	1538	2236	5527	2078	2484	2372	6934	2162	2321	2389	6872	2527	2062	1647	6236	25569
2003	1716	1782	2519	6017	2226	2315	2395	6936	2599	2269	1920	6788	2762	2146	1733	6641	26382
2004	1676	1914	2630	6220	2387	2132	2379	6898	2269	2262	2054	6585	2456	1969	1670	6095	25798
2005	1698	1989	2497	6184	2113	2130	2514	6757	2423	1985	2050	6458	2457	1610	1331	5398	24797
2006	1626	2114	2766	6506	2287	2057	2027	6371	2116	2393	2267	6776	2869	2140	1932	6941	26594
2007	1659	1931	2495	6085	2252	2308	2449	7009	2291	2207	2253	6751	2531	1909	1377	5817	25662
2008	1897	1794	2480	6171	2424	2431	2506	7361	2423	2506	2163	7092	2346	1696	1921	5963	26587
2009	2025	1968	2424	6417	2250	2427	2699	7376	2642	2672	2345	7659	2707	1926	2012	6645	28097
2010	1913	1835	2303	6051	2303	2638	2813	7754	2634	2613	2504	7751	2613	2068	2202	6883	28439
2011	2058	2003	2286	6347	2214	2638	2672	7524	2652	2728	2543	7923	2760	2058	1885	6703	28497
2012	1896	2075	2300	6271	2300	2650	2700	7650	2600	2475	2425	7500	2800	2100	1925	6825	28246
OCCUPANCY PERCENT % (Revenue Suites only/Suites Available)
2002	56.0%	54.4%	71.4%	60.8%	68.6%	79.3%	78.3%	75.4%	69.1%	74.1%	78.8%	74.0%	80.7%	68.1%	52.6%	67.1%	69.4%
2003	54.8%	63.0%	80.5%	66.2%	73.5%	73.9%	79.0%	75.5%	83.0%	72.5%	63.4%	73.1%	88.2%	70.8%	55.3%	71.5%	71.6%
2004	53.5%	65.3%	84.0%	67.7%	78.8%	68.1%	78.5%	75.1%	72.5%	72.2%	67.8%	70.9%	78.4%	65.0%	53.3%	65.6%	69.8%
2005	54.2%	70.3%	79.8%	68.0%	69.7%	68.0%	83.0%	73.5%	77.4%	63.4%	67.7%	69.5%	78.5%	53.1%	42.5%	58.1%	67.3%
2006	51.9%	74.8%	88.3%	71.6%	75.5%	65.7%	66.9%	69.3%	67.6%	76.4%	74.8%	72.9%	91.6%	70.6%	61.7%	74.7%	72.1%
2007	53.0%	68.3%	79.7%	66.9%	74.3%	73.7%	80.8%	76.3%	73.2%	70.5%	74.4%	72.7%	80.8%	63.0%	44.0%	62.6%	69.6%
2008	60.6%	61.2%	79.2%	67.1%	80.0%	77.6%	82.7%	80.1%	77.4%	80.0%	71.4%	76.3%	74.9%	56.0%	61.4%	64.2%	71.9%
2009	64.7%	69.6%	77.4%	70.6%	74.3%	77.5%	89.1%	80.3%	84.4%	85.3%	77.4%	82.4%	86.5%	63.6%	64.3%	71.5%	76.2%
2010	61.1%	64.9%	73.6%	66.6%	76.0%	84.3%	92.8%	84.4%	84.1%	83.5%	82.6%	83.4%	83.5%	68.3%	70.3%	74.1%	77.1%
2011	65.7%	70.8%	73.0%	69.8%	73.1%	84.3%	88.2%	81.9%	84.7%	87.1%	83.9%	85.3%	88.2%	67.9%	60.2%	72.1%	77.3%
2012	60.6%	70.8%	73.5%	68.2%	75.9%	84.6%	89.1%	83.2%	83.0%	79.0%	80.0%	80.7%	89.4%	69.3%	61.5%	73.5%	76.4%
AVERAGE DAILY RATE (Room Revenue/Revenue Suites)
2002	$ 54.55	$ 55.81	$ 57.30	$ 56.02	$ 60.15	$ 60.76	$ 61.71	$ 60.90	$ 62.21	$ 62.38	$ 59.07	$ 61.17	$ 65.68	$ 55.51	$ 53.22	$ 59.03	$ 59.46
2003	$ 54.36	$ 54.74	$ 55.62	$ 55.00	$ 57.36	$ 58.05	$ 57.21	$ 57.54	$ 59.05	$ 61.06	$ 57.11	$ 59.18	$ 64.83	$ 55.34	$ 64.09	$ 61.57	$ 58.39
2004	$ 56.93	$ 57.98	$ 57.49	$ 57.49	$ 61.40	$ 64.90	$ 63.45	$ 63.19	$ 63.01	$ 62.92	$ 67.93	$ 64.51	$ 71.15	$ 61.73	$ 62.81	$ 65.82	$ 62.77
2005	$ 63.17	$ 63.14	$ 63.10	$ 63.13	$ 67.39	$ 65.57	$ 67.00	$ 66.67	$ 71.38	$ 68.84	$ 64.03	$ 68.27	$ 71.96	$ 63.35	$ 63.49	$ 67.31	$ 66.34
2006	$ 52.05	$ 55.56	$ 56.53	$ 55.10	$ 65.73	$ 67.28	$ 65.29	$ 66.09	$ 66.11	$ 61.75	$ 61.05	$ 62.88	$ 68.88	$ 58.47	$ 58.65	$ 62.82	$ 61.73
2007	$ 62.49	$ 60.30	$ 65.90	$ 63.20	$ 70.46	$ 67.90	$ 69.87	$ 69.41	$ 71.56	$ 79.43	$ 71.79	$ 74.21	$ 83.86	$ 68.71	$ 68.66	$ 75.29	$ 70.53
2008	$ 66.70	$ 69.99	$ 73.30	$ 70.31	$ 83.41	$ 75.16	$ 77.33	$ 78.62	$ 76.00	$ 77.37	$ 76.62	$ 76.68	$ 87.04	$ 71.67	$ 67.19	$ 76.27	$ 75.64
2009	$ 62.71	$ 66.60	$ 67.03	$ 65.53	$ 74.11	$ 69.03	$ 68.16	$ 70.26	$ 68.10	$ 70.31	$ 69.85	$ 69.41	$ 74.36	$ 63.44	$ 59.73	$ 66.76	$ 68.12
2010	$ 60.82	$ 62.44	$ 66.06	$ 63.31	$ 69.94	$ 66.34	$ 69.74	$ 68.64	$ 70.05	$ 68.06	$ 68.31	$ 68.82	$ 77.31	$ 60.97	$ 55.92	$ 65.56	$ 66.81
2011	$ 58.76	$ 59.35	$ 68.76	$ 62.55	$ 68.64	$ 66.23	$ 68.10	$ 67.60	$ 71.45	$ 67.94	$ 68.19	$ 69.19	$ 75.51	$ 63.05	$ 63.13	$ 68.20	$ 67.06
2012	$ 63.82	$ 60.24	$ 69.57	$ 64.74	$ 71.74	$ 67.92	$ 72.22	$ 70.59	$ 73.08	$ 74.75	$ 76.29	$ 74.67	$ 76.79	$ 64.29	$ 64.94	$ 69.60	$ 70.13
REVENUE PAR (Room Revenue/Suites Available)
2002	$ 30.54	$ 30.35	$ 40.92	$ 34.06	$ 41.25	$ 48.20	$ 48.31	$ 45.95	$ 42.96	$ 46.24	$ 46.57	$ 45.24	$ 53.01	$ 37.77	$ 28.00	$ 39.61	$ 41.24
2003	$ 29.79	$ 34.49	$ 44.75	$ 36.41	$ 42.14	$ 42.92	$ 45.22	$ 43.42	$ 49.02	$ 44.25	$ 36.19	$ 43.23	$ 57.19	$ 39.19	$ 35.47	$ 44.00	$ 41.79
2004	$ 30.47	$ 37.89	$ 48.29	$ 38.90	$ 48.37	$ 44.19	$ 49.82	$ 47.42	$ 45.66	$ 45.46	$ 46.05	$ 45.72	$ 55.81	$ 40.12	$ 33.50	$ 43.18	$ 43.81
2005	$ 34.26	$ 44.41	$ 50.32	$ 42.95	$ 47.00	$ 44.61	$ 55.59	$ 49.02	$ 55.24	$ 43.65	$ 43.32	$ 47.45	$ 56.47	$ 33.66	$ 26.99	$ 39.10	$ 44.62
2006	$ 27.03	$ 41.54	$ 49.94	$ 39.43	$ 49.61	$ 44.20	$ 43.68	$ 45.81	$ 44.68	$ 47.20	$ 45.68	$ 45.85	$ 63.12	$ 41.30	$ 36.19	$ 46.93	$ 44.53
2007	$ 33.11	$ 41.18	$ 52.52	$ 42.30	$ 52.36	$ 50.05	$ 56.47	$ 52.93	$ 52.36	$ 55.99	$ 53.38	$ 53.92	$ 67.79	$ 43.29	$ 30.19	$ 47.13	$ 49.10
2008	$ 40.41	$ 42.87	$ 58.06	$ 47.21	$ 66.73	$ 58.36	$ 63.95	$ 62.96	$ 58.82	$ 61.93	$ 54.70	$ 58.52	$ 65.22	$ 40.12	$ 41.22	$ 48.95	$ 54.41
2009	$ 40.56	$ 46.35	$ 51.89	$ 46.26	$ 55.04	$ 53.51	$ 60.72	$ 56.39	$ 57.47	$ 60.00	$ 54.06	$ 57.21	$ 64.29	$ 40.33	$ 38.38	$ 47.75	$ 51.92
2010	$ 37.16	$ 40.52	$ 48.59	$ 42.14	$ 53.16	$ 55.89	$ 64.75	$ 57.91	$ 58.93	$ 56.80	$ 56.45	$ 57.41	$ 64.52	$ 41.61	$ 39.33	$ 48.56	$ 51.54
2011	$ 38.62	$ 42.04	$ 50.20	$ 43.67	$ 50.16	$ 55.80	$ 60.06	$ 55.34	$ 60.52	$ 59.19	$ 57.23	$ 59.00	$ 66.56	$ 42.82	$ 38.01	$ 49.20	$ 51.84
2012	$ 38.65	$ 42.68	$ 51.10	$ 44.17	$ 54.46	$ 57.49	$ 64.36	$ 58.75	$ 60.68	$ 59.09	$ 61.06	$ 60.27	$ 68.67	$ 44.55	$ 39.92	$ 51.12	$ 53.59
ROOM REVENUE
2002	$ 95,632	$ 85,839	$ 128,125	$ 309,596	$ 124,995	$ 150,919	$ 146,377	$ 422,291	$ 134,502	$ 144,778	$ 141,107	$ 420,387	$ 165,971	$ 114,456	$ 87,657	$ 368,084	$ 1,520,358
2003	$ 93,276	$ 97,541	$ 140,114	$ 330,931	$ 127,675	$ 134,382	$ 137,025	$ 399,082	$ 153,479	$ 138,549	$ 109,660	$ 401,688	$ 179,050	$ 118,757	$ 111,068	$ 408,875	$ 1,540,576
2004	$ 95,407	$ 110,967	$ 151,198	$ 357,572	$ 146,550	$ 138,362	$ 150,958	$ 435,870	$ 142,977	$ 142,333	$ 139,521	$ 424,831	$ 174,735	$ 121,554	$ 104,894	$ 401,182	$ 1,619,455
2005	$ 107,262	$ 125,578	$ 157,566	$ 390,406	$ 142,402	$ 139,668	$ 168,429	$ 450,499	$ 172,954	$ 136,653	$ 131,266	$ 440,873	$ 176,810	$ 101,999	$ 84,504	$ 363,313	$ 1,645,091
2006	$ 84,633	$ 117,463	$ 156,367	$ 358,463	$ 150,322	$ 138,392	$ 132,337	$ 421,051	$ 139,887	$ 147,768	$ 138,398	$ 426,053	$ 197,627	$ 125,132	$ 113,309	$ 436,068	$ 1,641,635
2007	$ 103,676	$ 116,447	$ 164,425	$ 384,548	$ 158,665	$ 156,705	$ 171,115	$ 486,485	$ 163,940	$ 175,313	$ 161,750	$ 501,003	$ 212,258	$ 131,173	$ 94,538	$ 437,969	$ 1,810,005
2008	$ 126,538	$ 125,564	$ 181,780	$ 433,882	$ 202,190	$ 182,721	$ 193,780	$ 578,692	$ 184,151	$ 193,901	$ 165,732	$ 543,783	$ 204,192	$ 121,554	$ 129,066	$ 454,812	$ 2,011,168
2009	$ 126,992	$ 131,066	$ 162,476	$ 420,533	$ 166,758	$ 167,543	$ 183,968	$ 518,269	$ 179,933	$ 187,858	$ 163,796	$ 531,587	$ 201,291	$ 122,186	$ 120,175	$ 443,653	$ 1,914,043
2010	$ 116,355	$ 114,577	$ 152,137	$ 383,069	$ 161,082	$ 175,003	$ 196,187	$ 532,272	$ 184,524	$ 177,849	$ 171,044	$ 533,417	$ 202,004	$ 126,087	$ 123,138	$ 451,229	$ 1,899,987
2011	$ 120,920	$ 118,882	$ 157,179	$ 396,981	$ 151,976	$ 174,711	$ 181,970	$ 508,657	$ 189,485	$ 185,329	$ 173,412	$ 548,226	$ 208,404	$ 129,750	$ 119,000	$ 457,154	$ 1,911,018
2012	$ 121,000	$ 125,000	$ 160,000	$ 406,000	$ 165,000	$ 180,000	$ 195,000	$ 540,000	$ 190,000	$ 185,000	$ 185,000	$ 560,000	$ 215,000	$ 135,000	$ 125,000	$ 475,000	$ 1,981,000
GOP DOLLARS
2002	$ 2,513	$ 9,824	$ 42,529	$ 54,866	$ 27,529	$ 50,050	$ 56,839	$ 134,418	$ 34,997	$ 34,782	$ 45,325	$ 115,104	$ 64,456	$ 19,102	$ 8,020	$ 91,578	$ 395,966
2003	$ (5,531)	$ 19,775	$ 51,231	$ 65,475	$ 27,081	$ 47,291	$ 55,433	$ 129,805	$ 62,383	$ 46,318	$ 10,461	$ 119,162	$ 86,349	$ 34,348	$ 12,280	$ 132,977	$ 447,419
2004	$ 7,075	$ 33,792	$ 56,180	$ 97,047	$ 45,238	$ 60,561	$ 56,401	$ 162,200	$ 51,023	$ 42,896	$ 54,529	$ 148,448	$ 44,494	$ 34,877	$ 17,717	$ 97,088	$ 504,783
2005	$ (6,616)	$ 53,753	$ 72,130	$ 119,267	$ 57,419	$ 63,315	$ 87,979	$ 208,713	$ 66,626	$ 37,432	$ 48,463	$ 152,521	$ 66,548	$ 12,663	$ (36,992)	$ 42,219	$ 522,720
2006	$ 1,634	$ 24,422	$ 59,520	$ 85,576	$ 47,423	$ 39,572	$ 29,534	$ 116,529	$ 19,463	$ 52,668	$ 34,138	$ 106,269	$ 81,676	$ 14,283	$ 16,695	$ 112,654	$ 421,028
2007	$ (48,911)	$ 28,384	$ 60,596	$ 40,069	$ 44,712	$ 40,207	$ 49,210	$ 134,129	$ 59,092	$ 48,841	$ 59,214	$ 167,147	$ 108,604	$ 46,988	$ 3,321	$ 158,913	$ 500,258
2008	$ (29,254)	$ 62,375	$ 74,303	$ 107,425	$ 67,030	$ 69,494	$ 79,531	$ 216,055	$ 59,896	$ 71,515	$ 57,565	$ 188,977	$ 86,523	$ 22,301	$ 37,314	$ 146,139	$ 658,595
2009	$ 46,074	$ 38,867	$ 64,308	$ 149,249	$ 55,519	$ 54,303	$ 79,432	$ 189,253	$ 58,894	$ 74,076	$ 52,066	$ 185,036	$ 98,131	$ 25,756	$ 41,357	$ 165,245	$ 688,783
2010	$ (14,494)	$ 21,685	$ 48,335	$ 55,526	$ 56,767	$ 63,993	$ 72,051	$ 192,811	$ 67,208	$ 58,656	$ 65,762	$ 191,626	$ 86,484	$ 25,120	$ 24,020	$ 135,624	$ 575,587
2011	$ 5,763	$ 23,120	$ 36,904	$ 65,787	$ 52,251	$ 62,234	$ 60,366	$ 174,851	$ 68,298	$ 66,061	$ 58,287	$ 192,646	$ 85,862	$ 27,829	$ 19,731	$ 133,422	$ 566,706
2012	$ 23,000	$ 26,000	$ 38,000	$ 87,000	$ 60,000	$ 67,000	$ 70,000	$ 197,000	$ 75,000	$ 70,000	$ 69,000	$ 214,000	$ 95,000	$ 30,000	$ 22,000	$ 147,000	$ 645,000
GOP % (GOP$/Room Revenue) Adjusted GOP %
2002	2.6%	11.4%	33.2%	17.7%	22.0%	33.2%	38.8%	31.8%	26.0%	24.0%	32.1%	27.4%	38.8%	16.7%	9.1%	24.9%	26.0%
2003	-5.9%	20.3%	36.6%	19.8%	21.2%	35.2%	40.5%	32.5%	40.6%	33.4%	9.5%	29.7%	48.2%	28.9%	11.1%	32.5%	29.0%
2004	7.4%	30.5%	37.2%	27.1%	30.9%	43.8%	37.4%	37.2%	35.7%	30.1%	39.1%	34.9%	25.5%	28.7%	16.9%	24.2%	31.2%
2005	-6.2%	42.8%	45.8%	30.5%	40.3%	45.3%	52.2%	46.3%	38.5%	27.4%	36.9%	34.6%	37.6%	12.4%	-43.8%	11.6%	31.8%
2006	1.9%	20.8%	38.1%	23.9%	31.5%	28.6%	22.3%	27.7%	13.9%	35.6%	24.7%	24.9%	41.3%	11.4%	14.7%	25.8%	25.6%
2007	-47.2%	24.4%	36.9%	10.4%	28.2%	25.7%	28.8%	27.6%	36.0%	27.9%	36.6%	33.4%	51.2%	35.8%	3.5%	36.3%	27.6%
2008	-23.1%	49.7%	40.9%	24.8%	33.2%	38.0%	41.0%	37.3%	32.5%	36.9%	34.7%	34.8%	42.4%	18.3%	28.9%	32.1%	32.7%
2009	36.3%	29.7%	39.6%	35.5%	33.3%	32.4%	43.2%	36.5%	32.7%	39.4%	31.8%	34.8%	48.8%	21.1%	34.4%	37.2%	36.0%
2010	-12.5%	18.9%	31.8%	14.5%	35.2%	36.6%	36.7%	36.2%	36.4%	33.0%	38.4%	35.9%	42.8%	19.9%	19.5%	30.1%	30.3%
2011	4.8%	19.4%	23.5%	16.6%	34.4%	35.6%	33.2%	34.4%	36.0%	35.6%	33.6%	35.1%	41.2%	21.4%	16.6%	29.2%	29.7%
2012	19.0%	20.8%	23.8%	21.4%	36.4%	37.2%	35.9%	36.5%	39.5%	37.8%	37.3%	38.2%	44.2%	22.2%	17.6%	30.9%	32.6%
Note:	Actual figures through October 31, 2011. Projected figures Thereafter to December 31, 2012 are based on management assumptions and no assurance is provided that actual results will be similar.
	Land Lease Expense not included GOP calculation
	For Internal Use Only. Some figures have been adjusted for comparability purposes.