TUCSON HOSPITALITY PROPERTIES BEST WESTERN 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
2000	4929	4611	4929	14469	4770	4929	4770	14469	4929	4929	4770	14628	4929	4770	4929	14628	58194
2001	4929	4452	4929	14310	4770	4929	4770	14469	4929	4929	4770	14628	4929	4770	4929	14628	58035
2002	4929	4452	4929	14310	4770	4929	4770	14469	4929	4929	4770	14628	4929	4770	4929	14628	58035
2003	4929	4452	4929	14310	4770	4929	4770	14469	4929	4929	4770	14628	4929	4770	4929	14628	58035
2004	4929	4611	4929	14469	4770	4929	4770	14469	4929	4929	4770	14628	4929	4770	4929	14628	58194
2005	4929	4452	4929	14310	4770	4929	4770	14469	4929	4929	4770	14628	4929	4770	4929	14628	58035
2006	4929	4452	4929	14310	4770	4929	4770	14469	4929	4929	4770	14628	4929	4770	4929	14628	58035
2007	4929	4452	4929	14310	4770	4929	4770	14469	4929	4929	4770	14628	4929	4770	4929	14628	58035
2008	4929	4611	4929	14469	4770	4929	4770	14469	4929	4929	4770	14628	4929	4770	4929	14628	58194
2009	4929	4452	4929	14310	4770	4929	4770	14469	4929	4929	4770	14628	4929	4770	4929	14628	58035
2010	4929	4452	4929	14310	4770	4929	4770	14469	4929	4929	4770	14628	4929	4770	4929	14628	58035
2011	4929	4452	4929	14310	4770	4929	4770	14469	4929	4929	4770	14628	4929	4770	4929	14628	58035
2012	4929	4611	4929	14469	4770	4929	4770	14469	4929	4929	4770	14628	4929	4770	4929	14628	58194
REVENUE SUITES
2002	3905	4204	4492	12601	3693	4169	3756	11618	2319	2978	2175	7472	2665	3096	3380	9141	40832
2003	3445	4221	4138	11804	3773	3384	2428	9585	2521	2492	2812	7825	3463	3724	3401	10588	39802
2004	3228	4274	4289	11791	3610	3926	2761	10297	2202	2107	2121	6430	3068	3715	3402	10185	38703
2005	3247	4008	4646	11901	3658	3589	3157	10404	3010	2569	2598	8177	3396	3659	3313	10368	40850
2006	3695	4114	4715	12524	4182	4147	3055	11384	3502	3226	2828	9556	2840	3712	3320	9872	43336
2007	3736	4108	4513	12357	3916	3700	2866	10482	3337	3403	3217	9957	3373	3689	3297	10359	43155
2008	3403	4120	4421	11944	3195	2919	2980	9094	2970	2684	2802	8456	3168	3186	3033	9387	38881
2009	2529	3457	4331	10317	3751	3555	3012	10318	2539	2349	2041	6929	2743	3076	3078	8897	36461
2010	2936	3964	4323	11223	3008	2880	2326	8214	2846	2491	2793	8130	2945	3206	3333	9484	37051
2011	3394	4105	4532	12031	4165	3163	3058	10386	3538	2861	2835	9234	3003	3050	2625	8678	40329
2012	3500	4275	4600	12375	4250	3250	3350	10850	3250	2515	2825	8590	3050	3100	2700	8850	40665
OCCUPANCY PERCENT % (Revenue Suites only/Suites Available)
2002	79.2%	94.4%	91.1%	88.1%	77.4%	84.6%	78.7%	80.3%	47.0%	60.4%	45.6%	51.1%	54.1%	64.9%	68.6%	62.5%	70.4%
2003	69.9%	94.8%	84.0%	82.5%	79.1%	68.7%	50.9%	66.2%	51.1%	50.6%	59.0%	53.5%	70.3%	78.1%	69.0%	72.4%	68.6%
2004	65.5%	92.7%	87.0%	81.5%	75.7%	79.7%	57.9%	71.2%	44.7%	42.7%	44.5%	44.0%	62.2%	77.9%	69.0%	69.6%	66.5%
2005	65.9%	90.0%	94.3%	83.2%	76.7%	72.8%	66.2%	71.9%	61.1%	52.1%	54.5%	55.9%	68.9%	76.7%	67.2%	70.9%	70.4%
2006	75.0%	92.4%	95.7%	87.5%	87.7%	84.1%	64.0%	78.7%	71.0%	65.4%	59.3%	65.3%	57.6%	77.8%	67.4%	67.5%	74.7%
2007	75.8%	92.3%	91.6%	86.4%	82.1%	75.1%	60.1%	72.4%	67.7%	69.0%	67.4%	68.1%	68.4%	77.3%	66.9%	70.8%	74.4%
2008	69.0%	89.4%	89.7%	82.5%	67.0%	59.2%	62.5%	62.9%	60.3%	54.5%	58.7%	57.8%	64.3%	66.8%	61.5%	64.2%	66.8%
2009	51.3%	77.7%	87.9%	72.1%	78.6%	72.1%	63.1%	71.3%	51.5%	47.7%	42.8%	47.4%	55.7%	64.5%	62.4%	60.8%	62.8%
2010	59.6%	89.0%	87.7%	78.4%	63.1%	58.4%	48.8%	56.8%	57.7%	50.5%	58.6%	55.6%	59.7%	67.2%	67.6%	64.8%	63.8%
2011	68.9%	92.2%	91.9%	84.1%	87.3%	64.2%	64.1%	71.8%	71.8%	58.0%	59.4%	63.1%	60.9%	63.9%	53.3%	59.3%	69.5%
2012	71.0%	92.7%	93.3%	85.5%	89.1%	65.9%	70.2%	75.0%	65.9%	51.0%	59.2%	58.7%	61.9%	65.0%	54.8%	60.5%	69.9%
AVERAGE DAILY RATE (Room Revenue/Revenue Suites)
2002	$ 78.69	$ 94.92	$ 85.71	$ 86.61	$ 66.97	$ 58.66	$ 57.67	$ 60.98	$ 57.76	$ 56.26	$ 65.35	$ 59.37	$ 61.58	$ 67.08	$ 62.33	$ 63.72	$ 69.21
2003	$ 64.91	$ 85.90	$ 81.21	$ 78.13	$ 66.31	$ 61.05	$ 61.96	$ 63.35	$ 54.85	$ 56.56	$ 56.20	$ 55.88	$ 63.74	$ 62.91	$ 64.00	$ 63.53	$ 66.31
2004	$ 74.95	$ 88.00	$ 84.56	$ 83.18	$ 76.03	$ 61.20	$ 58.67	$ 65.72	$ 58.90	$ 57.46	$ 60.98	$ 59.12	$ 65.17	$ 70.41	$ 68.96	$ 68.35	$ 70.63
2005	$ 84.20	$ 97.07	$ 91.94	$ 91.56	$ 71.19	$ 67.90	$ 59.83	$ 66.61	$ 61.16	$ 59.59	$ 62.73	$ 61.16	$ 75.92	$ 76.91	$ 71.92	$ 74.99	$ 74.91
2006	$ 84.50	$ 99.12	$ 89.86	$ 91.32	$ 76.44	$ 67.13	$ 60.61	$ 68.80	$ 61.32	$ 62.32	$ 70.86	$ 64.48	$ 77.50	$ 78.62	$ 79.20	$ 78.49	$ 76.56
2007	$ 102.50	$ 120.27	$ 101.03	$ 107.87	$ 80.84	$ 75.08	$ 69.32	$ 75.66	$ 69.38	$ 64.33	$ 70.39	$ 67.98	$ 80.80	$ 85.04	$ 83.68	$ 83.23	$ 84.93
2008	$ 103.06	$ 124.11	$ 106.17	$ 111.47	$ 85.20	$ 79.58	$ 67.81	$ 77.70	$ 69.10	$ 68.18	$ 69.70	$ 69.01	$ 80.09	$ 78.27	$ 74.37	$ 77.62	$ 86.17
2009	$ 88.05	$ 103.48	$ 81.15	$ 90.32	$ 70.86	$ 65.26	$ 62.07	$ 66.37	$ 61.01	$ 61.75	$ 66.34	$ 62.83	$ 69.40	$ 70.41	$ 70.18	$ 70.02	$ 73.36
2010	$ 79.52	$ 90.78	$ 85.06	$ 85.63	$ 75.94	$ 69.16	$ 61.74	$ 69.54	$ 61.45	$ 62.72	$ 63.14	$ 62.42	$ 73.94	$ 69.29	$ 68.72	$ 70.53	$ 73.11
2011	$ 80.96	$ 92.50	$ 82.56	$ 85.50	$ 69.81	$ 70.16	$ 63.30	$ 68.00	$ 64.13	$ 62.17	$ 68.83	$ 64.97	$ 68.33	$ 71.48	$ 72.97	$ 70.84	$ 73.14
2012	$ 81.43	$ 93.57	$ 84.78	$ 86.87	$ 72.94	$ 72.31	$ 64.18	$ 70.05	$ 63.69	$ 67.59	$ 67.26	$ 66.01	$ 70.49	$ 74.19	$ 79.63	$ 74.58	$ 75.30
REVENUE PAR (Room Revenue/Suites Available)
2002	$ 62.34	$ 89.63	$ 78.11	$ 76.26	$ 51.85	$ 49.62	$ 45.41	$ 48.97	$ 27.18	$ 33.99	$ 29.80	$ 30.33	$ 33.30	$ 43.54	$ 42.74	$ 39.82	$ 48.69
2003	$ 45.36	$ 81.44	$ 68.18	$ 64.45	$ 52.45	$ 41.91	$ 31.54	$ 41.97	$ 28.05	$ 28.60	$ 33.13	$ 29.89	$ 44.78	$ 49.12	$ 44.16	$ 45.99	$ 45.48
2004	$ 49.09	$ 81.57	$ 73.58	$ 67.78	$ 57.54	$ 48.74	$ 33.96	$ 46.77	$ 26.32	$ 24.56	$ 27.12	$ 25.99	$ 40.57	$ 54.84	$ 47.60	$ 47.59	$ 46.98
2005	$ 55.47	$ 87.39	$ 86.67	$ 76.14	$ 54.59	$ 49.44	$ 39.60	$ 47.89	$ 37.35	$ 31.06	$ 34.16	$ 34.19	$ 52.31	$ 59.00	$ 48.34	$ 53.15	$ 52.73
2006	$ 63.35	$ 91.60	$ 85.95	$ 79.92	$ 67.01	$ 56.48	$ 38.82	$ 54.13	$ 43.57	$ 40.79	$ 42.01	$ 42.12	$ 44.65	$ 61.18	$ 53.34	$ 52.97	$ 57.17
2007	$ 77.69	$ 110.98	$ 92.50	$ 93.15	$ 66.37	$ 56.36	$ 41.65	$ 54.81	$ 46.97	$ 44.41	$ 47.47	$ 46.27	$ 55.30	$ 65.76	$ 55.97	$ 58.94	$ 63.15
2008	$ 71.15	$ 110.89	$ 95.23	$ 92.02	$ 57.07	$ 47.13	$ 42.36	$ 48.84	$ 41.64	$ 37.13	$ 40.94	$ 39.89	$ 51.48	$ 52.28	$ 45.76	$ 49.81	$ 57.57
2009	$ 45.18	$ 80.35	$ 71.30	$ 65.12	$ 55.72	$ 47.07	$ 39.20	$ 47.33	$ 31.43	$ 29.43	$ 28.38	$ 29.76	$ 38.62	$ 45.41	$ 43.82	$ 42.59	$ 46.09
2010	$ 47.37	$ 80.83	$ 74.60	$ 67.16	$ 47.89	$ 40.41	$ 30.11	$ 39.48	$ 35.48	$ 31.70	$ 36.97	$ 34.69	$ 44.18	$ 46.57	$ 46.47	$ 45.73	$ 46.67
2011	$ 55.75	$ 85.29	$ 75.91	$ 71.88	$ 60.95	$ 45.02	$ 40.58	$ 48.81	$ 46.03	$ 36.09	$ 40.91	$ 41.01	$ 41.63	$ 45.70	$ 38.86	$ 42.03	$ 50.82
2012	$ 57.82	$ 86.75	$ 79.12	$ 74.30	$ 64.99	$ 47.68	$ 45.07	$ 52.53	$ 42.00	$ 34.49	$ 39.83	$ 38.76	$ 43.62	$ 48.22	$ 43.62	$ 45.12	$ 52.62
ROOM REVENUE
2002	$ 307,278	$ 399,030	$ 385,014	$ 1,091,322	$ 247,323	$ 244,569	$ 216,592	$ 708,484	$ 133,957	$ 167,550	$ 142,140	$ 443,647	$ 164,115	$ 207,665	$ 210,680	$ 582,460	$ 2,825,913
2003	$ 223,604	$ 362,566	$ 336,052	$ 922,222	$ 250,176	$ 206,595	$ 150,432	$ 607,203	$ 138,276	$ 140,952	$ 158,028	$ 437,256	$ 220,729	$ 234,281	$ 217,664	$ 672,674	$ 2,639,355
2004	$ 241,941	$ 376,129	$ 362,695	$ 980,765	$ 274,482	$ 240,253	$ 161,992	$ 676,727	$ 129,708	$ 121,065	$ 129,345	$ 380,118	$ 199,952	$ 261,577	$ 234,607	$ 696,135	$ 2,733,745
2005	$ 273,387	$ 389,062	$ 427,175	$ 1,089,624	$ 260,407	$ 243,685	$ 188,877	$ 692,969	$ 184,079	$ 153,083	$ 162,961	$ 500,123	$ 257,833	$ 281,418	$ 238,273	$ 777,524	$ 3,060,240
2006	$ 312,229	$ 407,793	$ 423,668	$ 1,143,690	$ 319,658	$ 278,400	$ 185,164	$ 783,222	$ 214,749	$ 201,032	$ 200,381	$ 616,162	$ 220,086	$ 291,842	$ 262,929	$ 774,857	$ 3,317,931
2007	$ 382,925	$ 494,072	$ 455,936	$ 1,332,933	$ 316,586	$ 277,801	$ 198,665	$ 793,052	$ 231,518	$ 218,921	$ 226,444	$ 676,883	$ 272,555	$ 313,698	$ 275,890	$ 862,143	$ 3,665,011
2008	$ 350,720	$ 511,332	$ 469,382	$ 1,331,433	$ 272,226	$ 232,294	$ 202,074	$ 706,594	$ 205,231	$ 182,992	$ 195,307	$ 583,530	$ 253,733	$ 249,364	$ 225,552	$ 728,649	$ 3,350,207
2009	$ 222,678	$ 357,723	$ 351,454	$ 931,855	$ 265,787	$ 232,015	$ 186,965	$ 684,767	$ 154,915	$ 145,048	$ 135,390	$ 435,353	$ 190,355	$ 216,594	$ 216,013	$ 622,962	$ 2,674,937
2010	$ 233,463	$ 359,834	$ 367,717	$ 961,014	$ 228,427	$ 199,183	$ 143,614	$ 571,224	$ 174,887	$ 156,234	$ 176,351	$ 507,472	$ 217,745	$ 222,149	$ 229,047	$ 668,941	$ 2,708,651
2011	$ 274,788	$ 379,716	$ 374,166	$ 1,028,670	$ 290,746	$ 221,925	$ 193,564	$ 706,235	$ 226,875	$ 177,879	$ 195,138	$ 599,892	$ 205,196	$ 218,000	$ 191,550	$ 614,746	$ 2,949,543
2012	$ 285,000	$ 400,000	$ 390,000	$ 1,075,000	$ 310,000	$ 235,000	$ 215,000	$ 760,000	$ 207,000	$ 170,000	$ 190,000	$ 567,000	$ 215,000	$ 230,000	$ 215,000	$ 660,000	$ 3,062,000
GOP DOLLARS
2002	$ 168,244	$ 267,395	$ 239,413	$ 675,052	$ 132,618	$ 85,912	$ 102,819	$ 321,349	$ 2,981	$ 34,971	$ 12,966	$ 50,918	$ 43,574	$ 91,009	$ 100,343	$ 234,926	$ 1,282,245
2003	$ 102,786	$ 222,377	$ 181,303	$ 506,466	$ 110,059	$ 86,809	$ 32,360	$ 229,228	$ 7,423	$ 20,786	$ 35,715	$ 63,924	$ 83,632	$ 96,992	$ 89,979	$ 270,603	$ 1,070,221
2004	$ 86,799	$ 247,659	$ 200,551	$ 535,009	$ 107,319	$ 97,733	$ 35,307	$ 240,359	$ 755	$ 1,587	$ (1,988)	$ 354	$ 34,753	$ 129,635	$ 109,467	$ 273,855	$ 1,049,577
2005	$ 110,953	$ 209,854	$ 210,097	$ 530,904	$ 86,578	$ 73,183	$ 43,146	$ 202,907	$ 25,038	$ 5,124	$ 14,891	$ 45,053	$ 85,920	$ 92,002	$ 79,621	$ 257,543	$ 1,036,407
2006	$ 98,051	$ 200,191	$ 196,050	$ 494,292	$ 128,150	$ 106,795	$ 32,358	$ 267,303	$ 31,467	$ 39,699	$ 56,049	$ 127,215	$ 43,477	$ 137,872	$ 102,013	$ 283,362	$ 1,172,172
2007	$ 143,137	$ 296,853	$ 247,084	$ 687,074	$ 139,138	$ 96,122	$ 38,820	$ 274,080	$ 45,027	$ 12,818	$ 75,052	$ 132,897	$ 98,434	$ 143,033	$ 93,801	$ 335,268	$ 1,429,319
2008	$ 87,824	$ 340,996	$ 264,592	$ 693,413	$ 43,994	$ 56,201	$ 40,512	$ 140,707	$ 42,412	$ 32,616	$ 32,369	$ 107,397	$ 101,120	$ 100,445	$ 70,180	$ 271,745	$ 1,213,261
2009	$ 50,776	$ 186,777	$ 163,738	$ 401,291	$ 58,447	$ 70,731	$ 17,401	$ 146,579	$ (3,756)	$ (2,277)	$ (3,054)	$ (9,086)	$ 56,499	$ 59,494	$ 74,154	$ 190,147	$ 728,930
2010	$ 55,379	$ 192,924	$ 186,325	$ 434,628	$ 64,224	$ 45,745	$ 9,279	$ 119,248	$ 32,487	$ 16,697	$ 39,827	$ 89,011	$ 66,035	$ 73,811	$ 76,470	$ 216,316	$ 859,203
2011	$ 111,296	$ 197,525	$ 198,390	$ 507,211	$ 101,978	$ 69,673	$ 42,321	$ 213,972	$ 63,758	$ 33,068	$ 58,555	$ 155,381	$ 63,984	$ 72,947	$ 42,641	$ 179,572	$ 1,056,136
2012	$ 137,000	$ 210,000	$ 210,000	$ 557,000	$ 113,000	$ 85,000	$ 56,000	$ 254,000	$ 54,000	$ 25,000	$ 35,000	$ 114,000	$ 63,000	$ 79,000	$ 50,000	$ 192,000	$ 1,117,000
GOP % (GOP$/Room Revenue) Adjusted GOP %
2002	54.8%	67.0%	62.2%	61.9%	53.6%	35.1%	47.5%	45.4%	2.2%	20.9%	9.1%	11.5%	26.6%	43.8%	47.6%	40.3%	45.4%
2003	46.0%	61.3%	54.0%	54.9%	44.0%	42.0%	21.5%	37.8%	5.4%	14.7%	22.6%	14.6%	37.9%	41.4%	41.3%	40.2%	40.5%
2004	35.9%	65.8%	55.3%	54.6%	39.1%	40.7%	21.8%	35.5%	0.6%	1.3%	-1.5%	0.1%	17.4%	49.6%	46.7%	39.3%	38.4%
2005	40.6%	53.9%	49.2%	48.7%	33.2%	30.0%	22.8%	29.3%	13.6%	3.3%	9.1%	9.0%	33.3%	32.7%	33.4%	33.1%	33.9%
2006	31.4%	49.1%	46.3%	43.2%	40.1%	38.4%	17.5%	34.1%	14.7%	19.7%	28.0%	20.6%	19.8%	47.2%	38.8%	36.6%	35.3%
2007	37.4%	60.1%	54.2%	51.5%	43.9%	34.6%	19.5%	34.6%	19.4%	5.9%	33.1%	19.6%	36.1%	45.6%	34.0%	38.9%	39.0%
2008	25.0%	66.7%	56.4%	52.1%	16.2%	24.2%	20.0%	19.9%	20.7%	17.8%	16.6%	18.4%	39.9%	40.3%	31.1%	37.3%	36.2%
2009	22.8%	52.2%	46.6%	43.1%	22.0%	30.5%	9.3%	21.4%	-2.4%	-1.6%	-2.3%	-2.1%	29.7%	27.5%	34.3%	30.5%	27.3%
2010	23.7%	53.6%	50.7%	45.2%	28.1%	23.0%	6.5%	20.9%	18.6%	10.7%	22.6%	17.5%	30.3%	33.2%	33.4%	32.3%	31.7%
2011	40.5%	52.0%	53.0%	49.3%	35.1%	31.4%	21.9%	30.3%	28.1%	18.6%	30.0%	25.9%	31.2%	33.5%	22.3%	29.2%	35.8%
2012	48.1%	52.5%	53.8%	51.8%	36.5%	36.2%	26.0%	33.4%	26.1%	14.7%	18.4%	20.1%	29.3%	34.3%	23.3%	29.1%	36.5%
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
	January and February 2011 exclude $6,516 and $18,821, respectively, of one-time expenses related to the conversion of the property to a Best Western Plus.
	For Internal Use Only. Some figures have been adjusted for comparability purposes.