Hyatt Hotels Corp - FORM 8-K - EX-99.2 - HYATT INVESTOR FACT BOOK

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8-K - FORM 8-K - Hyatt Hotels Corp	d482917d8k.htm
EX-99.1 - PRESS RELEASE - Hyatt Hotels Corp	d482917dex991.htm

Hyatt Investor Fact Book

February 13, 2013

Exhibit 99.2

Hyatt Hotels Corporation

February 13, 2013 Fact Book

About the Fact Book

This fact book is a summary of Hyatt Hotels Corporation’s (the “Company,” “we,” “our” or “us”) historical financial and operational information.

This fact book does not provide the Company’s consolidated financial information and tables. You may access any filed documents at the SEC’s website at www.sec.gov or at Hyatt’s Investor Relations website at http://www.hyatt.com and by selecting the Investor Relations link located at the bottom of the page.

Table of Contents


Hyatt Hotels Corporation Profile			3

Definitions			4

Corporate History			5

Unaudited Historical Segment Information			8

Segment Financial Summary - Revenue			9

Segment Financial Summary - Adjusted EBITDA			11

Fee Summary			13

Managed and Franchised Hotels			14

Systemwide Comparable Managed and Franchised Hotel Chain Statistics			15

Owned and Leased Hotels			16

Owned and Leased Comparable Hotel Chain Statistics			18

Total Americas Managed and Franchised Hotels			20

Americas Comparable Managed and Franchised Hotel Chain Statistics			22

Total ASPAC Managed and Franchised Hotels			24

ASPAC Comparable Managed and Franchised Hotel Chain Statistics			25

Total EAME/SW Asia Managed Hotels			26

EAME/SW Asia Comparable Managed Hotel Chain Statistics			27

Comparable Owned and Leased Operating Margin and Owned and Leased Hotel Operating Margin			28


		2

Hyatt Hotels Corporation Profile

Hyatt Hotels Corporation is a global hospitality company with widely recognized, industry leading brands and a tradition of innovation developed over our more than fifty-year history. Our mission is to provide authentic hospitality by making a difference in the lives of the people we touch every day. We focus on this mission in pursuit of our goal of becoming the most preferred brand in each customer segment that we serve for our associates, guests and owners. We support our mission and goal by adhering to a set of core values that characterize our culture. We believe that our mission, goal and values, together with the strength of our brands, strong capital and asset base and opportunities for expansion, provide us with a platform for long-term value creation.

We manage, franchise, own and develop Hyatt-branded hotels, resorts and residential and vacation ownership properties around the world. Our full service hotels and resorts operate under five established brands, Park Hyatt^®, Andaz^®, Hyatt^®, Grand Hyatt^® and Hyatt Regency^®. Our two select service brands are Hyatt Place^® and Hyatt House^TM, an extended stay brand. We develop, sell or manage vacation ownership properties in select locations as part of the Hyatt Residence Club^TM. We also manage, provide services to or license our trademarks with respect to residential ownership units that are often adjacent to a Hyatt-branded full service hotel. We consult with third parties in the design and development of such mixed-use projects based on our expertise as a manager and owner of vacation ownership properties, residential properties and hotels.

Our associates, whom we refer to as members of the Hyatt family, are more than 95,000 individuals working at our corporate and regional offices and our managed, franchised and owned properties in 46 countries around the world.


		3

Definitions

In this presentation, management has referred to Adjusted EBITDA. Adjusted EBITDA, as we define it, is a non-GAAP measure. For our definition of Adjusted EBITDA and a reconciliation of consolidated Adjusted EBITDA to EBITDA and a reconciliation of EBITDA to net income (loss) attributable to Hyatt Hotels Corporation, please refer to Part I, Item 7 “Management’s Discussion and Analysis of Financial Condition and Results of Operations – Key Business Metrics Evaluated by Management – Adjusted EBITDA” and “– Results of Operations” of our Annual Report on Form 10-K or the information posted on the Investor Relations page of the Company’s website, which can be accessed at http://www.hyatt.com and by selecting the Investor Relations link located at the bottom of the page (or http://investors.hyatt.com).

Please also see Hyatt’s investor relations website at http://investors.hyatt.com under Investor Relations – Financial Information – Non-GAAP Reconciliations for a reconciliation of various non-GAAP measures to their corresponding GAAP measures presented on a quarterly basis.

For the definition of terms used in this fact book and not defined herein, please see the section titled “DEFINITIONS” of both our most recent earnings release and our earnings release for the relevant fiscal period. All of our earnings releases have been filed on a current report on Form 8-K and can be accessed at the SEC’s website at www.sec.gov or at Hyatt’s investor relations website at http://investors.hyatt.com.

Segment Realignment

Effective October 1, 2012, we realigned our corporate and regional operations. Our realignment changed our operating and reportable segments such that our historic North American management and franchising segment has been combined with operations in Latin America to form the Americas management and franchising operating and reporting segment. The remaining components of our former International management and franchising reporting segment have been broken out to form two new operating and reporting segments, Southeast Asia, as well as China, Australia, South Korea and Japan (“ASPAC”) management and franchising and Europe, Africa, the Middle East and Southwest Asia (“EAME/SW Asia”) management. These operating segments, together with our owned and leased hotels, form our four reportable segments, which we define as follows:

•

Owned and leased hotels, which consists of our owned and leased full service and select service hotels and, for purposes of segment Adjusted EBITDA, our pro rata share of the Adjusted EBITDA of our unconsolidated hospitality ventures, based on our ownership percentage of each venture.

•

Americas management and franchising, which consists of our management and franchising of properties located in the United States, Latin America, Canada and the Caribbean.

•

ASPAC management and franchising, which consists of our management and franchising of properties located in Southeast Asia, as well as China, Australia, South Korea and Japan.

•

EAME/SW Asia management, which consists of our management of properties located primarily in Europe, Africa, the Middle East and India as well as countries along the Persian Gulf and the Arabian Sea.

As part of our realignment, costs incurred in our global development efforts, which were previously aggregated in corporate and other have been allocated to the operating and reporting segment to which they relate. The results of our vacation ownership business, Hyatt co-branded credit card and unallocated corporate overhead continue to be reported within corporate and other.

We have recast the quarterly and annual periods for the years ended December 31, 2009, 2010 and 2011 as well as the first three quarters of our fiscal year 2012 to reflect the new segment reporting structure for our managed and franchised operations. All historical financial information included herein is unaudited.


		4

Corporate History

1957

Jay Pritzker purchases the very first Hyatt House hotel from business partners, Mr. Hyatt von Dehn and Mr. Jack Dyer Crouch. The small motor hotel is adjacent to the Los Angeles International Airport in Los Angeles, California.

1962

Hyatt goes public in 1962, changing its name to Hyatt Corporation.

1963

Advertised as “The World’s First Fly-In Hotels”, Hyatt has three divisions: Hyatt House hotels, Hyatt Chalet motels, and Hyatt Lodges. The properties are primarily in the western United States, but in 1963 Hyatt expands east with a property in Lincolnwood, Illinois near the Pritzkers home.

Hyatt creates an innovative program directed towards executive secretaries responsible for travel arrangements called HERS (Hyatt Executive Reservation Secretaries).

1964

The Company establishes three new regional sales offices, serving Northern California, Southern California and greater Chicago and the Midwest. A toll-free, direct reservation line to Hyatt House Hotels is set up for approximately three-dozen major cities.

1967

The first “Regency” is introduced in Atlanta, Georgia. Its first major John Portman designed hotel, Hyatt Regency Atlanta features original, groundbreaking design with a dramatic, 21-story atrium lobby. The revolutionary architecture spawns scores of atrium lobbies around the world, effectively changing the course of the lodging industry and reshaping the Hyatt brand as an innovative and significant global hospitality leader.

1968

In 1968, Hyatt International is formed and subsequently becomes a separate public company.

1969

Hyatt Regency Hong Kong welcomes its first guests in 1969 as the first international Hyatt hotel.

1971

Hyatt Regency O’Hare opens its doors.

1972

The Company opens a central reservations office with an 800 number in Omaha.

1973

Hyatt Regency San Francisco opens its doors.

1976

The Company manages a total of more than 50 hotels. The first Regency Club opens.

1977

Hyatt headquarters moves to Chicago, first to an airport location and later downtown.

1979

Hyatt Corporation is taken private by the Pritzker family business interests.


		5

1980

The Company introduces the Grand Hyatt brand with the Grand Hyatt New York. Additionally, the Company adds the Park Hyatt brand to its portfolio and also solidifies its entry into the luxury resort market with the opening of Hyatt Regency Maui Resort & Spa in Hawaii.

In 1980 Hyatt Regency Chicago opens its west tower, making the hotel the largest in Chicago with over 2,000 guestrooms.

1982

Hyatt International is taken private by the Pritzker family business interests.

1987

Hyatt Gold Passport makes its debut.

1988

Camp Hyatt is introduced.

1990s

The Company emphasizes the Hyatt touch, placing the tag line “Feel the Hyatt Touch” on Hyatt’s advertising, featuring the new Hyatt crescent logo. The crescent shape is meant to symbolize Hyatt’s “sunrise-to-sunset service”.

Hyatt.com is launched and Hyatt Residence Club is born.

1998

Grand Hyatt Shanghai becomes the world’s highest hotel, occupying floors 53–87 of an 88-story tower.

2004

Substantially all hospitality assets are consolidated under a single identity, Global Hyatt Corporation.

In December 2004, Hyatt announces it will acquire AmeriSuites, an upscale chain of all suite business class hotels, from affiliates of the Blackstone Group. The AmeriSuites properties are later rebranded as Hyatt Place in 2006.

2005

Hyatt’s corporate office moves into the newly opened Hyatt Center building in downtown Chicago.

2006

Hyatt acquires a second select service brand, Summerfield Suites, and rebrands the properties to Hyatt Summerfield Suites.

2007

Hyatt introduces its Andaz brand and opens its first hotel without the Hyatt name, the Andaz Liverpool Street in London.


		6

2008

Hyatt sells Microtel Inns & Suites and Hawthorn Suites hotel brands to Wyndham Worldwide.

Park Hyatt, Shanghai takes the title of world’s highest hotel occupying floors 79–93 of the 101-story Shanghai World Financial Center. While the hotel does not maintain this title as time moves on, it continues to be in the rankings as one of the world’s highest.

2009

Global Hyatt Corporation changes its name to Hyatt Hotels Corporation.

In May 2009, Hyatt launches Hyatt Concierge, making us the first hospitality company in the world to deploy a designated concierge site on Twitter.

In November 2009, Hyatt completes an initial public offering of Class A common stock which begins trading publicly on the New York Stock Exchange under the symbol H.

Hyatt at Olive 8 opens and receives the LEED^® Silver rating from the U.S. Green Building Council (USGBC), a first for hotel/condominium buildings in the Seattle area. Hyatt at Olive 8 hotel is also one of only 20 hotels in the US to be officially designated “green” by the LEED (Leadership in Energy and Environmental Design) Green Building Rating System.

2010

The Hyatt Card is introduced, partnered with Visa. Hyatt increases social media presence with its blog Keyed Into Hyatt (blog.hyatt.com).

2011

Hyatt announces its select service brands are expanding internationally.

Hyatt announces that one of its wholly owned subsidiaries acquired a portfolio of assets from LodgeWorks, L.P. and its private equity partners. The transaction includes the purchase of twenty hotels and the management or franchise rights to an additional four hotels. Key members of the LodgeWorks management and development team join Hyatt as part of the transaction.

Park Hyatt Paris-Vendôme is awarded a five-star classification of the highest distinction - it is named by the government as one of eight official palace hotels in France.

The Company introduces Hyatt Thrive (thrive.hyatt.com), Hyatt’s global corporate responsibility platform.

2012

Hyatt evolves its extended-stay brand into a distinctive new hotel concept - Hyatt house^TM. As a part of the rebranding, all Hyatt Summerfield Suites and 15 Hotel Sierra properties undergo official name and signage changes.

In May, Hyatt completes an approximately $190 million acquisition of its first hotel in Mexico City. The 756-room hotel is re-branded as Hyatt Regency Mexico City and will undergo an approximately $40 million renovation over the next three years. Mexico City is the premier political, business and commercial hub in Mexico and the gateway to Latin America.

Hyatt select service makes its international debut with the opening of Hyatt Place San Jose/Pinares in Costa Rica.

Effective October 1, 2012, Hyatt realigns its corporate and regional operations.


		7

Unaudited Historical Segment Information

We have recast our unaudited historical segment information to reflect our new reportable segments as if they existed for those periods. Our consolidated results were not affected by our change in reportable segments and therefore our consolidated results are as reported in the most recent public filing.

The unaudited historical financial information herein is not intended as a substitute for the recast segment information within the footnotes to the financial statements that will be reported in the Company’s Form 10-K for the fiscal year ended December 31, 2012.


		8

Segment Financial Summary - Revenue (unaudited) ^(a)

(in millions)


	2012
	Q1			Q2			Q3			Q4			YE
Revenue
Owned and leased	$	473		$	528		$	503		$	517		$	2,021
Americas		64			69			59			64			256
ASPAC		22			21			19			24			86
EAME/SW Asia		15			16			14			18			63

Total management and franchising		101			106			92			106			405
Corporate and other		17			20			22			19			78
Other revenues from managed properties		389			386			384			384			1,543
Eliminations		(22	)		(26	)		(24	)		(26	)		(98	)

Total revenues	$	958		$	1,014		$	977		$	1,000		$	3,949


	2011
	Q1			Q2			Q3			Q4			YE
Revenue
Owned and leased	$	432		$	484		$	470		$	493		$	1,879
Americas		53			58			53			59			223
ASPAC		19			20			18			24			81
EAME/SW Asia		16			17			15			19			67

Total management and franchising		88			95			86			102			371
Corporate and other		14			17			18			17			66
Other revenues from managed properties		359			360			343			403			1,465
Eliminations		(18	)		(20	)		(20	)		(25	)		(83	)

Total revenues	$	875		$	936		$	897		$	990		$	3,698


	2010
	Q1			Q2			Q3			Q4			YE
Revenue
Owned and leased	$	451		$	483		$	455		$	470		$	1,859
Americas		47			53			49			50			199
ASPAC		14			17			17			23			71
EAME/SW Asia		16			16			13			20			65

Total management and franchising		77			86			79			93			335
Corporate and other		11			12			11			11			45
Other revenues from managed properties		322			330			352			364			1,368
Eliminations		(20	)		(22	)		(18	)		(20	)		(80	)

Total revenues	$	841		$	889		$	879		$	918		$	3,527

(a)

The segment results presented here have been recast to show our results as if our new reportable segments had existed in these periods. These reporting changes did not change the consolidated results of Hyatt Hotels Corporation for such periods.


		9

Segment Financial Summary - Revenue (unaudited) ^(a)

(in millions)


	2009
	Q1			Q2			Q3			Q4			YE
Revenue^(b)
Owned and leased	$	416		$	459		$	438		$	468		$	1,780
Americas		46			49			44			48			187
ASPAC		11			13			12			20			56
EAME/SW Asia		14			14			13			19			60

Total management and franchising		71			76			69			87			303
Corporate and other		16			13			10			10			49
Other revenues from managed properties		303			320			309			346			1,278
Eliminations		(17	)		(21	)		(20	)		(22	)		(80	)

Total revenues	$	789		$	847		$	806		$	889		$	3,330

(a)

(b)

Certain periods in 2009 have not been adjusted for the insignificant impact from discontinued operations.


		10

Segment Financial Summary - Adjusted EBITDA (unaudited) ^(a)

(in millions)


	2012
	Q1			Q2			Q3			Q4			YE
Adjusted EBITDA
Owned and leased	$	75		$	110		$	97		$	87		$	369
Pro rata share of unconsolidated hospitality ventures		18			22			18			15			73

Total owned and leased		93			132			115			102			442
Americas management and franchising		46			54			49			50			199
ASPAC management and franchising		11			11			9			15			46
EAME/SW Asia management		6			8			5			7			26
Corporate and other		(31	)		(25	)		(24	)		(27	)		(107	)

Adjusted EBITDA	$	125		$	180		$	154		$	147		$	606


	2011
	Q1			Q2			Q3			Q4			YE
Adjusted EBITDA
Owned and leased	$	60		$	92		$	84		$	86		$	322
Pro rata share of unconsolidated hospitality ventures		15			22			22			19			78

Total owned and leased		75			114			106			105			400
Americas management and franchising		40			44			40			43			167
ASPAC management and franchising		10			8			8			14			40
EAME/SW Asia management		8			10			5			11			34
Corporate and other		(24	)		(25	)		(24	)		(30	)		(103	)

Adjusted EBITDA	$	109		$	151		$	135		$	143		$	538


	2010
	Q1			Q2			Q3			Q4			YE
Adjusted EBITDA
Owned and leased	$	68		$	85		$	66		$	69		$	288
Pro rata share of unconsolidated hospitality ventures		14			18			18			18			68

Total owned and leased		82			103			84			87			356
Americas management and franchising		31			41			37			36			145
ASPAC management and franchising		6			8			8			13			35
EAME/SW Asia management		6			8			7			10			31
Corporate and other		(13	)		(25	)		(25	)		(28	)		(91	)

Adjusted EBITDA	$	112		$	135		$	111		$	118		$	476

(a)


		11

Segment Financial Summary - Adjusted EBITDA (unaudited) ^(a)

(in millions)


	2009
	Q1			Q2			Q3			Q4			YE
Adjusted EBITDA^(b)
Owned and leased	$	55		$	74		$	57		$	58		$	243
Pro rata share of unconsolidated hospitality ventures		10			18			15			16			59

Total owned and leased		65			92			72			74			302
Americas management and franchising		30			34			28			28			120
ASPAC management and franchising		4			4			5			12			25
EAME/SW Asia management		7			6			6			11			30
Corporate and other		(15	)		(16	)		(19	)		(21	)		(71	)

Adjusted EBITDA	$	91		$	120		$	92		$	104		$	406

(a)

(b)

Certain periods in 2009 have not been adjusted for the insignificant impact from discontinued operations.


		12

Fee Summary (unaudited)

(in millions)


	2012
	Q1		Q2		Q3		Q4		YE

Base management fees	$	38	$	40	$	37	$	39	$	154
Incentive management fees		26		26		18		27		97
Franchise and other fees		15		14		13		14		56

Total fees	$	79	$	80	$	68	$	80	$	307


	2011
	Q1		Q2		Q3		Q4		YE

Base management fees ^(a)	$	34	$	37	$	36	$	37	$	144
Incentive management fees ^(a)		25		26		18		28		97
Franchise and other fees ^(a)		11		12		12		12		47

Total fees	$	70	$	75	$	66	$	77	$	288


	2010
	Q1		Q2		Q3		Q4		YE

Base management fees ^(b)	$	30	$	34	$	33	$	35	$	132
Incentive management fees ^(b)		20		23		19		31		93
Franchise and other fees ^(b)		7		7		9		7		30

Total fees	$	57	$	64	$	61	$	73	$	255


	2009
	Q1		Q2		Q3		Q4		YE

Base management fees ^(b)	$	29	$	29	$	29	$	31	$	118
Incentive management fees ^(b)		20		20		14		25		79
Franchise and other fees ^(b)		5		6		6		9		26

Total fees	$	54	$	55	$	49	$	65	$	223

(a)

Historical numbers are as reported in the most recent public filing in which the respective period was presented, except for certain reclassifications that were made to conform to the current year presentation.

(b)

Historical numbers are as reported in the most recent public filing in which the respective period was presented, and in certain circumstances have not been adjusted for the insignificant impact from reclassifications or discontinued operations.


		13

Managed and Franchised Hotels (unaudited)

(includes owned and leased hotels)


	Properties		Rooms/Units		Properties		Rooms/Units		Properties		Rooms/Units		Properties		Rooms/Units
	2012
	Q1				Q2				Q3				Q4

Total managed and franchised hotels		465		131,496		469		133,134		473		133,799		475		133,079
Vacation ownership		15		963		15		963		15		963		15		963
Residential		8		1,230		8		1,230		8		1,230		10		1,102

Total properties and rooms/units		488		133,689		492		135,327		496		135,992		500		135,144


	2011
	Q1				Q2				Q3				Q4

Total managed and franchised hotels		428		124,452		433		125,281		455		128,664		460		130,534
Vacation ownership		15		963		15		963		15		963		15		963
Residential		8		1,230		8		1,230		8		1,230		8		1,230

Total properties and rooms/units		451		126,645		456		127,474		478		130,857		483		132,727


	2010
	Q1				Q2				Q3				Q4

Total managed and franchised hotels		409		121,753		421		123,833		423		124,143		429		125,306
Vacation ownership		15		962		15		962		15		962		15		962
Residential		10		1,337		9		1,252		9		1,252		9		1,239

Total properties and rooms/units		434		124,052		445		126,047		447		126,357		453		127,507


	2009
													Q4

Total managed and franchised hotels														399		120,031
Vacation ownership														15		962
Residential														10		1,324

Total properties and rooms/units														424		122,317


		14

Systemwide Comparable Managed and Franchised Hotel Chain Statistics (unaudited) ^(a)

(includes owned and leased hotels)


	2012
	Q1			Q2			Q3			Q4			YE

ADR ^(b)	$	172.23		$	172.61		$	168.11		$	175.90		$	172.41
Occupancy ^(b)		68.8	%		74.8	%		73.3	%		69.1	%		71.7	%
RevPAR^(b)	$	118.42		$	129.12		$	123.29		$	121.63		$	123.56
RevPAR Change ^(c)		7.1	%		6.8	%		3.2	%		4.2	%		5.3	%

	2011
	Q1			Q2			Q3			Q4			YE

ADR ^(b)	$	167.28		$	166.84		$	162.58		$	171.12		$	167.13
Occupancy ^(b)		66.1	%		72.5	%		73.5	%		68.2	%		70.2	%
RevPAR^(b)	$	110.55		$	120.93		$	119.44		$	116.73		$	117.35
RevPAR Change ^(c)		9.5	%		7.3	%		8.2	%		5.0	%		7.4	%

	2010
	Q1			Q2			Q3			Q4			YE

ADR ^(b)	$	159.96		$	159.82		$	155.30		$	167.03		$	160.51
Occupancy ^(b)		63.7	%		71.1	%		71.2	%		66.8	%		68.3	%
RevPAR^(b)	$	101.98		$	113.59		$	110.58		$	111.59		$	109.55
RevPAR Change ^(c)		5.0	%		11.5	%		10.9	%		7.5	%		8.7	%

	2009
	Q1			Q2			Q3			Q4			YE

ADR ^(b)	$	168.03		$	158.89		$	149.98		$	161.44		$	159.25
Occupancy ^(b)		58.6	%		64.6	%		67.0	%		64.5	%		63.7	%
RevPAR^(b)	$	98.43		$	102.72		$	100.54		$	104.16		$	101.48
RevPAR Change ^(c)		—			—			—			(6.8	%)		(18.7	%)

(a)

Inventory included for comparable calculations may vary in each time period based on the definition of comparable hotels on the latest date the information was published.

(b)

This data represents information reported in the most recent public filing in which the stated period was presented.

(c)

RevPAR change shown is that which was published in the most recent applicable public filing.


		15

Owned and Leased Hotels (unaudited) ^(a)


	Properties		Rooms/Units		Properties		Rooms/Units		Properties		Rooms/Units		Properties		Rooms/Units
	2012
	Q1				Q2				Q3				Q4
Full service hotels
United States		31		14,535		31		14,535		31		14,536		31		14,536
Other Americas		3		1,347		4		2,103		4		2,103		4		2,102
ASPAC		1		601		1		601		1		601		1		601
EAME/SW Asia		9		2,002		9		2,002		9		2,002		11		2,441

Select service hotels
United States		64		8,712		64		8,712		64		8,712		56		7,669

Total owned and leased hotels		108		27,197		109		27,953		109		27,954		103		27,349


	2011
	Q1				Q2				Q3				Q4
Full service hotels
United States		28		14,960		28		14,934		32		15,274		31		14,528
Other Americas		3		1,347		3		1,347		3		1,347		3		1,347
ASPAC		1		601		1		601		1		601		1		601
EAME/SW Asia		9		2,006		9		2,002		9		2,002		9		2,002

Select service hotels
United States		54		7,041		49		6,525		63		8,562		64		8,712

Total owned and leased hotels		95		25,955		90		25,409		108		27,786		108		27,190


	2010
	Q1				Q2				Q3				Q4
Full service hotels
United States		34		17,187		34		17,252		33		16,761		29		15,493
Other Americas		3		1,347		3		1,347		3		1,347		3		1,347
ASPAC		1		601		1		601		1		601		1		601
EAME/SW Asia		9		2,011		9		2,011		9		2,006		9		2,006

Select service hotels
United States		55		7,169		55		7,169		54		7,041		54		7,041

Total owned and leased hotels		102		28,315		102		28,380		100		27,756		96		26,488

(a)

Owned and leased hotel figures do not include unconsolidated hospitality ventures.


		16

Owned and Leased Hotels (unaudited) ^(a)

Properties

Rooms/Units

Properties

Rooms/Units

Properties

Rooms/Units

Properties

Rooms/Units

2009

Full service hotels

United States

17,488

Other Americas

1,347

ASPAC

601

EAME/SW Asia

2,011

Select service hotels

United States

7,169

Total owned and leased hotels

102

28,616

(a)

Owned and leased hotel figures do not include unconsolidated hospitality ventures.


		17

Owned and Leased Comparable Hotel Chain Statistics (unaudited) ^{(a) (b) (e)}


	2012
	Q1			Q2			Q3			Q4			YE
Full service
ADR ^(c)	$	202.01		$	200.78		$	201.05		$	211.42		$	203.70
Occupancy ^(c)		70.4	%		79.1	%		77.4	%		71.2	%		74.5	%
RevPAR ^(c)	$	142.31		$	158.80		$	155.55		$	150.52		$	151.80
RevPAR Change ^(d)		9.0	%		8.0	%		4.5	%		7.2	%		7.1	%

Select service
ADR ^(c)	$	96.21		$	98.86		$	97.86		$	96.65		$	97.16
Occupancy ^(c)		72.1	%		80.0	%		81.6	%		74.4	%		77.6	%
RevPAR ^(c)	$	69.35		$	79.13		$	79.86		$	71.89		$	75.37
RevPAR Change ^(d)		4.3	%		5.4	%		5.1	%		9.5	%		6.6	%

Comparable owned and leased hotels
ADR ^(c)	$	174.97		$	174.94		$	174.07		$	185.68		$	179.86
Occupancy ^(c)		70.9	%		79.3	%		78.4	%		71.9	%		75.2	%
RevPAR ^(c)	$	123.97		$	138.77		$	136.53		$	133.47		$	135.23
RevPAR Change ^(d)		8.3	%		7.6	%		4.6	%		7.5	%		7.0	%

	2011
	Q1			Q2			Q3			Q4			YE
Full service
ADR ^(c)	$	200.35		$	199.38		$	194.64		$	204.01		$	199.44
Occupancy ^(c)		65.2	%		73.8	%		76.4	%		68.8	%		71.1	%
RevPAR ^(c)	$	130.54		$	147.08		$	148.80		$	140.36		$	141.74
RevPAR Change ^(d)		0.5	%		5.2	%		9.0	%		6.6	%		5.5	%

Select service
ADR ^(c)	$	93.36		$	92.27		$	92.01		$	90.11		$	91.21
Occupancy ^(c)		71.2	%		81.4	%		82.6	%		72.8	%		77.5	%
RevPAR ^(c)	$	66.50		$	75.10		$	75.99		$	65.64		$	70.70
RevPAR Change ^(d)		10.1	%		9.5	%		10.5	%		2.8	%		8.4	%

Comparable owned and leased hotels
ADR ^(c)	$	171.68		$	170.47		$	167.34		$	178.19		$	174.36
Occupancy ^(c)		66.7	%		75.7	%		78.0	%		69.7	%		72.5	%
RevPAR ^(c)	$	114.47		$	129.02		$	130.51		$	124.16		$	126.35
RevPAR Change ^(d)		2.0	%		5.9	%		9.2	%		6.0	%		5.9	%

(a)

Owned and leased hotel figures do not include unconsolidated hospitality ventures.

(b)

Inventory included for comparable calculations may vary in each time period based on the definition of comparable hotels on the latest date the information was published.

(c)

This data represents information reported in the most recent public filing in which the stated period was presented.

(d)

RevPAR change shown is that which was published in the most recent applicable public filing.

(e)

The realignment of our reporting structures did not impact the owned and leased segment and therefore these statistics agree to our most recent applicable public filling.


		18

Owned and Leased Comparable Hotel Chain Statistics (unaudited) ^{(a) (b) (e)}


	2010
	Q1			Q2			Q3			Q4			YE
Full service
ADR ^(c)	$	191.19		$	185.06		$	180.61		$	197.59		$	190.83
Occupancy ^(c)		65.3	%		73.2	%		73.2	%		65.3	%		69.5	%
RevPAR ^(c)	$	124.82		$	135.43		$	132.12		$	129.04		$	132.64
RevPAR Change ^(d)		11.1	%		9.8	%		6.6	%		2.9	%		7.8	%

Select service
ADR ^(c)	$	89.84		$	87.62		$	86.99		$	87.04		$	87.26
Occupancy ^(c)		69.0	%		78.3	%		79.0	%		73.1	%		74.8	%
RevPAR ^(c)	$	62.03		$	68.58		$	68.75		$	63.67		$	65.28
RevPAR Change ^(d)		2.9	%		8.6	%		8.4	%		10.5	%		7.6	%

Comparable owned and leased hotels
ADR ^(c)	$	162.29		$	159.89		$	156.29		$	167.20		$	163.15
Occupancy ^(c)		66.3	%		74.4	%		74.6	%		67.3	%		70.8	%
RevPAR ^(c)	$	107.63		$	119.01		$	116.58		$	112.51		$	115.59
RevPAR Change ^(d)		9.8	%		9.6	%		6.9	%		4.1	%		7.8	%

	2009
	Q1			Q2			Q3			Q4			YE
Full service
ADR ^(c)	$	183.45		$	175.05		$	167.72		$	185.45		$	181.41
Occupancy ^(c)		58.1	%		66.5	%		69.9	%		64.9	%		65.2	%
RevPAR ^(c)	$	106.62		$	116.32		$	117.20		$	120.37		$	118.29
RevPAR Change ^(d)		—			—			—			(6.1	%)		(18.8	%)

Select service
ADR ^(c)	$	102.15		$	93.66		$	90.52		$	87.75		$	93.15
Occupancy ^(c)		59.0	%		69.4	%		72.2	%		67.7	%		67.1	%
RevPAR ^(c)	$	60.27		$	64.96		$	65.34		$	59.38		$	62.49
RevPAR Change ^(d)		—			—			—			(9.7	%)		(16.5	%)

Comparable owned and leased hotels
ADR ^(c)	$	162.77		$	153.93		$	147.60		$	158.23		$	157.06
Occupancy ^(c)		58.3	%		67.2	%		70.5	%		65.7	%		65.7	%
RevPAR ^(c)	$	94.96		$	103.41		$	104.01		$	103.88		$	103.21
RevPAR Change ^(d)		—			—			—			(6.7	%)		(18.4	%)

(a)

Owned and leased hotel figures do not include unconsolidated hospitality ventures.

(b)

Inventory included for comparable calculations may vary in each time period based on the definition of comparable hotels on the latest date the information was published.

(c)

This data represents information reported in the most recent public filing in which the stated period was presented.

(d)

RevPAR change shown is that which was published in the most recent applicable public filing.

(e)

The realignment of our reporting structures did not impact the owned and leased segment and therefore these statistics agree to our most recent applicable public filling.


		19

Total Americas Managed and Franchised Hotels (unaudited)

(includes owned and leased hotels)


	Properties		Rooms/Units		Properties		Rooms/Units		Properties		Rooms/Units		Properties		Rooms/Units
	2012
	Q1				Q2				Q3				Q4
Full service hotels
United States Managed		107		56,515		107		56,515		106		56,015		104		54,722
Other Americas Managed		15		5,397		16		6,153		16		6,153		15		5,802
Franchised		21		6,376		23		7,047		23		7,047		24		7,515

Subtotal		143		68,288		146		69,715		145		69,215		143		68,039

Select service hotels
United States Managed		95		12,781		95		12,781		95		12,781		96		12,929
Other Americas Managed		—		—		—		—		—		—		1		120
Franchised		123		15,783		125		16,347		128		16,779		128		16,774

Subtotal		218		28,564		220		29,128		223		29,560		225		29,823

Total managed and franchised hotels		361		96,852		366		98,843		368		98,775		368		97,862


	2011
	Q1				Q2				Q3				Q4
Full service hotels
United States Managed		106		56,542		106		56,516		108		56,421		107		56,507
Other Americas Managed		15		5,397		15		5,397		15		5,397		15		5,397
Franchised		17		5,216		17		5,222		19		5,682		20		6,046

Subtotal		138		67,155		138		67,135		142		67,500		142		67,950

Select service hotels
United States Managed		81		10,522		76		10,006		93		12,497		95		12,781
Franchised		115		14,589		123		15,675		121		15,343		120		15,247

Subtotal		196		25,111		199		25,681		214		27,840		215		28,028

Total managed and franchised hotels		334		92,266		337		92,816		356		95,340		357		95,978


		20

Total Americas Managed and Franchised Hotels (unaudited)

(includes owned and leased hotels)


	Properties		Rooms/Units		Properties		Rooms/Units		Properties		Rooms/Units		Properties		Rooms/Units
	2010
	Q1				Q2				Q3				Q4
Full service hotels
United States Managed		107		56,953		108		57,349		108		57,206		106		56,537
Other Americas Managed		14		5,047		15		5,397		15		5,397		15		5,397
United States Franchised		11		3,404		12		3,619		13		3,947		16		4,767

Subtotal		132		65,404		135		66,365		136		66,550		137		66,701

Select service hotels
United States Managed		81		10,436		81		10,436		80		10,308		81		10,522
United States Franchised		101		12,832		110		13,956		112		14,221		114		14,494

Subtotal		182		23,268		191		24,392		192		24,529		195		25,016

Total managed and franchised hotels		314		88,672		326		90,757		328		91,079		332		91,717


	2009
													Q4
Full service hotels
United States Managed														103		56,096
Other Americas Managed														14		5,047
Franchised														11		3,401

Subtotal														128		64,544

Select service hotels
United States Managed														80		10,285
Franchised														96		12,218

Subtotal														176		22,503

Total managed and franchised hotels														304		87,047


		21

Americas Comparable Managed and Franchised Hotel Chain Statistics (unaudited) ^(a)

(includes owned and leased hotels)


	2012
	Q1			Q2			Q3			Q4			YE
Full service
ADR	$	171.41		$	173.57		$	168.87		$	173.46		$	171.80
Occupancy		70.1	%		77.6	%		75.7	%		68.2	%		72.9	%
RevPAR	$	120.09		$	134.70		$	127.90		$	118.27		$	125.23
RevPAR Change ^(b)		8.2	%		8.6	%		4.0	%		5.3	%		6.5	%

Select service
ADR	$	101.87		$	102.32		$	102.24		$	101.08		$	101.89
Occupancy		71.0	%		78.3	%		78.2	%		71.7	%		74.8	%
RevPAR	$	72.34		$	80.11		$	79.93		$	72.51		$	76.22
RevPAR Change ^(b)		7.2	%		6.4	%		6.0	%		8.7	%		7.0	%

	2011
	Q1			Q2			Q3			Q4			YE
Full service
ADR	$	166.53		$	165.77		$	161.39		$	166.21		$	164.87
Occupancy		66.7	%		74.8	%		76.2	%		67.6	%		71.3	%
RevPAR	$	111.02		$	124.07		$	123.00		$	112.28		$	117.61
RevPAR Change ^(b)		8.7	%		5.6	%		7.8	%		6.5	%		7.1	%

Select service
ADR	$	98.38		$	97.11		$	96.91		$	95.74		$	97.02
Occupancy		68.6	%		77.6	%		77.8	%		69.7	%		73.4	%
RevPAR	$	67.45		$	75.33		$	75.42		$	66.70		$	71.24
RevPAR Change ^(b)		11.6	%		9.6	%		8.8	%		5.5	%		8.8	%

	2010
	Q1			Q2			Q3			Q4			YE
Full service
ADR	$	157.64		$	159.39		$	153.78		$	160.37		$	157.72
Occupancy		64.2	%		73.1	%		73.3	%		64.9	%		68.9	%
RevPAR	$	101.17		$	116.53		$	112.77		$	104.11		$	108.67
RevPAR Change ^(b)		(1.9	%)		7.2	%		7.9	%		4.4	%		4.5	%

Select service
ADR	$	94.41		$	93.03		$	92.68		$	91.32		$	92.79
Occupancy		65.0	%		73.7	%		74.0	%		68.8	%		70.4	%
RevPAR	$	61.39		$	68.59		$	68.62		$	62.83		$	65.35
RevPAR Change ^(b)		2.6	%		7.8	%		9.1	%		9.5	%		7.3	%

(a)

Inventory included for comparable calculations is based on the comparable set of hotels for that respective period. Additionally, in each period, we will update the immediately preceding fiscal period to reflect the current applicable period’s hotel comparative listing. For example, the 2010 data represents information based on the 2011 comparable set of hotels.

(b)

RevPAR change shown is based on the applicable years comparable hotels compared to the respective prior year using the comparable hotels for the applicable year. For example, the 2011 RevPAR change is calculated using 2011 and 2010 RevPAR statistics based upon the 2011 comparable set. This figure, unlike other 2011 statistics will not be updated to reflect the 2012 comparable hotel listing.


		22

Americas Comparable Managed and Franchised Hotel Chain Statistics (unaudited) ^(a)

(includes owned and leased hotels)


	2009
	Q1			Q2			Q3			Q4			YE
Full service
ADR	$	169.61		$	159.72		$	148.42		$	154.61		$	157.70
Occupancy		60.7	%		67.5	%		69.6	%		63.8	%		65.4	%
RevPAR	$	102.92		$	107.87		$	103.33		$	98.69		$	103.19

Select service
ADR	$	104.50		$	97.24		$	90.94		$	90.78		$	95.50
Occupancy		57.9	%		66.8	%		70.5	%		64.0	%		64.8	%
RevPAR	$	60.53		$	64.92		$	64.09		$	58.11		$	61.91

(a)


		23

Total ASPAC Managed and Franchised Hotels (unaudited)

(includes owned and leased hotels)


	Properties		Rooms/Units		Properties		Rooms/Units		Properties		Rooms/Units		Properties		Rooms/Units
	2012
	Q1				Q2				Q3				Q4
Full service hotels
Managed		51		19,870		50		19,517		52		20,250		51		20,016
Franchised		2		988		2		988		2		988		2		988

Total managed and franchised hotels		53		20,858		52		20,505		54		21,238		53		21,004


	2011
	Q1				Q2				Q3				Q4
Full service hotels
Managed		48		18,973		49		19,216		49		19,256		51		19,993
Franchised		2		988		2		988		2		988		2		988

Total managed and franchised hotels		50		19,961		51		20,204		51		20,244		53		20,981


	2010
	Q1				Q2				Q3				Q4
Full service hotels
Managed		49		19,385		49		19,384		49		19,377		49		19,376
Franchised		2		988		2		988		2		988		2		988

Total managed and franchised hotels		51		20,373		51		20,372		51		20,365		51		20,364


	2009
													Q4
Full service hotels
Managed														49		19,288
Franchised														2		988

Total managed and franchised hotels														51		20,276


		24

ASPAC Comparable Managed and Franchised Hotel Chain Statistics (unaudited) ^(a)

(includes owned and leased hotels)


	2012
	Q1			Q2			Q3			Q4			YE
ADR	$	236.37		$	240.43		$	234.07		$	245.75		$	236.79
Occupancy		67.2	%		69.0	%		68.7	%		71.6	%		69.6	%
RevPAR	$	158.88		$	165.78		$	160.85		$	176.00		$	164.77
RevPAR Change ^(b⁾		10.2	%		8.8	%		3.7	%		3.1	%		6.7	%

	2011
	Q1			Q2			Q3			Q4			YE
ADR	$	218.59		$	228.70		$	226.36		$	237.47		$	226.43
Occupancy		65.9	%		66.6	%		68.5	%		71.9	%		68.2	%
RevPAR	$	144.12		$	152.34		$	155.16		$	170.72		$	154.37
RevPAR Change ^(b⁾		15.4	%		8.7	%		10.2	%		6.3	%		9.8	%

	2010
	Q1			Q2			Q3			Q4			YE
ADR	$	197.77		$	207.44		$	203.68		$	226.13		$	209.26
Occupancy		62.3	%		65.9	%		68.1	%		70.7	%		66.8	%
RevPAR	$	123.16		$	136.65		$	138.74		$	159.80		$	139.72
RevPAR Change ^(b⁾		25.3	%		32.0	%		23.8	%		19.0	%		24.5	%

	2009
	Q1			Q2			Q3			Q4			YE
ADR	$	187.60		$	188.04		$	186.24		$	204.05		$	191.99
Occupancy		54.0	%		55.4	%		61.0	%		66.2	%		59.2	%
RevPAR	$	101.34		$	104.20		$	113.65		$	135.09		$	113.67

(a)

(b)


		25

Total EAME/SW Asia Managed Hotels (unaudited)

(includes owned and leased hotels)


	Properties		Rooms/Units		Properties		Rooms/Units		Properties		Rooms/Units		Properties		Rooms/Units
	2012
	Q1				Q2				Q3				Q4
Full service hotels
EAME Managed		32		7,964		32		7,964		32		7,964		33		8,084
SW Asia Managed		19		5,822		19		5,822		19		5,822		20		6,014

Subtotal		51		13,786		51		13,786		51		13,786		53		14,098

Select service hotels
SW Asia Managed														1		115

Subtotal														1		115

Total managed hotels														54		14,213


	2011
	Q1				Q2				Q3				Q4
Full service hotels
EAME Managed		31		7,795		31		7,781		32		7,961		32		7,961
SW Asia Managed		13		4,430		14		4,480		16		5,119		18		5,614

Total managed hotels		44		12,225		45		12,261		48		13,080		50		13,575


	2010
	Q1				Q2				Q3				Q4
Full service hotels
EAME Managed		32		8,501		32		8,497		32		8,492		33		8,795
SW Asia Managed		12		4,207		12		4,207		12		4,207		13		4,430

Total managed hotels		44		12,708		44		12,704		44		12,699		46		13,225


	2009
													Q4
Full service hotels
EAME Managed														32		8,501
SW Asia Managed														12		4,207

Total managed hotels														44		12,708


		26

EAME/SW Asia Comparable Managed Hotel Chain Statistics (unaudited) ^(a)

(includes owned and leased hotels)


	2012
	Q1			Q2			Q3			Q4			YE

ADR	$	245.50		$	241.57		$	234.53		$	243.70		$	241.43
Occupancy		60.7	%		63.3	%		58.2	%		65.3	%		61.9	%
RevPAR	$	148.91		$	152.92		$	136.49		$	159.07		$	149.34
RevPAR Change ^(b)		(1.8	%)		(5.1	%)		(4.1	%)		(0.8	%)		(2.9	%)

	2011
	Q1			Q2			Q3			Q4			YE

ADR	$	253.70		$	260.01		$	243.56		$	253.89		$	252.90
Occupancy		59.8	%		62.0	%		58.5	%		63.1	%		60.8	%
RevPAR	$	151.62		$	161.19		$	142.37		$	160.30		$	153.86
RevPAR Change ^(b)		3.5	%		9.9	%		6.7	%		(3.1	%)		4.0	%

	2010
	Q1			Q2			Q3			Q4			YE

ADR	$	239.61		$	234.76		$	231.00		$	250.52		$	239.28
Occupancy		62.3	%		63.5	%		58.9	%		66.9	%		62.9	%
RevPAR	$	149.22		$	149.16		$	136.08		$	167.69		$	150.55
RevPAR Change ^(b)		12.5	%		8.9	%		7.8	%		2.0	%		7.4	%

	2009
	Q1			Q2			Q3			Q4			YE

ADR	$	242.86		$	230.76		$	227.00		$	248.77		$	237.72
Occupancy		55.2	%		59.4	%		56.3	%		66.5	%		59.4	%
RevPAR	$	134.07		$	136.98		$	127.85		$	165.53		$	141.16

(a)

(b)


		27

Comparable Owned and Leased Hotel Operating Margin and Owned and Leased Hotel Operating Margin (unaudited) ^(c)


	2012
	Q1			Q2			Q3			Q4			YE

Owned and leased hotel operating margin percentage ^(a)		20.3	%		26.3	%		24.1	%		22.4	%		23.4	%
Percent change ^(b)		2.2	%		3.2	%		0.7	%		(0.1	)%		1.5	%
Comparable owned and leased hotel operating margin percentage ^(a)		20.0	%		24.9	%		22.7	%		21.6	%		22.3	%
Percent change ^(b)		1.2	%		1.2	%		0.2	%		(1.1	)%		0.4	%

	2011
	Q1			Q2			Q3			Q4			YE

Owned and leased hotel operating margin percentage ^(a)		18.1	%		23.1	%		23.4	%		22.5	%		21.9	%
Percent change ^(b)		(1.2	)%		0.5	%		6.0	%		3.1	%		2.2	%
Comparable owned and leased hotel operating margin percentage ^(a)		18.8	%		23.7	%		22.5	%		22.7	%		21.9	%
Percent change ^(b)		(1.3	)%		0.8	%		3.5	%		1.8	%		1.1	%

	2010
	Q1			Q2			Q3			Q4			YE

Owned and leased hotel operating margin percentage ^(a)		19.3	%		22.6	%		17.4	%		19.4	%		19.7	%
Percent change ^(b)		1.5	%		2.3	%		1.2	%		1.7	%		1.7	%
Comparable owned and leased hotel operating margin percentage ^(a)		20.2	%		22.4	%		18.5	%		20.6	%		20.8	%
Percent change ^(b)		2.2	%		1.3	%		1.3	%		2.1	%		1.8	%

	2009
	Q1			Q2			Q3			Q4			YE

Owned and leased hotel operating margin percentage ^(a)		17.8	%		20.3	%		16.2	%		17.7	%		18.0	%
Percent change ^(b)		—			—			—			(3.3	)%		(8.0	)%
Comparable owned and leased hotel operating margin percentage ^(a)		17.7	%		20.9	%		17.1	%		18.3	%		18.6	%
Percent change ^(b)		—			—			—			(2.2	)%		(7.0	)%

(a)

This data represents information reported in the most recent public filing in which the stated period was presented.

(b)

Percentage change shown is that which was published in the most recent applicable public filing.

(c)

The realignment of our reporting structures did not impact the owned and leased segment and therefore these statistics agree to our most recent applicable public filling.


		28

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