Lodging Outlook Survey
January 2009 Compared With January 2008
	Operating Performance - January
	Occupancy Percent			Average Room Rate			RevPAR**			Room Revenue	Rooms Available	Rooms Sold
Segment	2009	2008	% Chg	2009	2008	% Chg	2009	2008	% Chg	% Chg	% Chg	% Chg
United States	45.9	51.5	-10.7	100.66	106.14	-5.2	46.24	54.62	-15.3	-12.5	3.4	-7.7
South Atlantic	48.0	52.5	-8.6	107.51	108.42	-0.8	51.61	56.93	-9.3	-6.1	3.6	-5.3
South Carolina	37.5	42.1	-10.8	70.27	72.88	-3.6	26.39	30.69	-14.0	-11.9	2.5	-8.6
Savannah, GA	49.4	53.1	-6.8	79.22	87.69	-9.7	39.17	46.52	-15.8	-10.4	6.4	-0.8
Myrtle Beach, SC*	25.3	28.0	-9.6	59.44	61.48	-3.3	15.06	17.24	-12.6	-11.7	1.1	-8.7
Martinez/Aiken/I-20*****	44.9	50.1	-10.3	65.12	64.89	0.4	29.25	32.50	-10.0	-7.5	2.8	-7.8
Rock Hill/Monroe****	43.2	53.7	-19.4	69.27	72.12	-4.0	29.96	38.71	-22.6	-21.1	2.0	-17.8
Spartanburg	43.0	46.1	-6.7	63.24	63.56	-0.5	27.17	29.28	-7.2	-7.2	0.0	-6.7
Greenville	47.4	57.7	-18.0	73.13	75.40	-3.0	34.63	43.54	-20.5	-18.5	2.5	-16.0
Anderson/Clemson	38.6	46.2	-16.3	66.10	67.78	-2.5	25.54	31.31	-18.4	-15.0	4.3	-12.8
Columbia East	42.3	51.8	-18.4	79.23	85.56	-7.4	33.52	44.36	-24.4	-17.8	8.8	-11.2
Columbia West	45.6	56.9	-19.7	60.42	65.38	-7.6	27.57	37.17	-25.8	-22.9	4.0	-16.5
Florence/Dillon	43.7	41.7	4.8	56.41	57.56	-2.0	24.65	24.00	2.7	5.6	2.8	7.7
Orangeburg/Sumter	39.4	42.4	-7.0	63.04	60.45	4.3	24.84	25.62	-3.0	-0.2	2.9	-4.3
Hilton Head/Beaufort	32.5	31.5	3.1	85.96	90.69	-5.2	27.95	28.61	-2.3	0.9	3.3	6.5
I-95 Walterboro/Hardeeville	41.7	42.4	-1.6	54.01	53.75	0.5	22.53	22.78	-1.1	1.2	2.4	0.8
South Carolina SmallTowns	33.3	36.6	-9.0	61.37	59.65	2.9	20.41	21.81	-6.4	-4.5	2.1	-7.1
No. Charleston/Airport	48.5	54.8	-11.5	67.14	68.17	-1.5	32.58	37.38	-12.8	-8.0	5.5	-6.6
Charleston/West Ashley	52.5	57.5	-8.7	121.15	129.40	-6.4	63.61	74.42	-14.5	-16.4	-2.2	-10.7
Mount Pleasant/Isle Of Palms	34.5	44.5	-22.6	84.10	88.67	-5.2	28.99	39.48	-26.6	-22.6	5.4	-18.4
Myrtle Beach North Area	29.7	29.3	1.3	72.51	69.28	4.7	21.54	20.32	6.0	8.6	2.5	3.8
Myrtle Beach & South	23.3	27.5	-15.2	51.54	57.62	-10.5	12.00	15.82	-24.1	-23.8	0.5	-14.8
	Operating Performance - January-January Year to Date
	Occupancy Percent			Average Room Rate			RevPAR**			Room Revenue	Rooms Available	Rooms Sold
Segment	2009	2008	% Chg	2009	2008	% Chg	2009	2008	% Chg	% Chg	% Chg	% Chg
United States	45.9	51.5	-10.7	100.66	106.14	-5.2	46.24	54.62	-15.3	-12.5	3.4	-7.7
South Atlantic	48.0	52.5	-8.6	107.51	108.42	-0.8	51.61	56.93	-9.3	-6.1	3.6	-5.3
South Carolina	37.5	42.1	-10.8	70.27	72.88	-3.6	26.39	30.69	-14.0	-11.9	2.5	-8.6
Savannah, GA	49.4	53.1	-6.8	79.22	87.69	-9.7	39.17	46.52	-15.8	-10.4	6.4	-0.8
Myrtle Beach, SC*	25.3	28.0	-9.6	59.44	61.48	-3.3	15.06	17.24	-12.6	-11.7	1.1	-8.7
Martinez/Aiken/I-20*****	44.9	50.1	-10.3	65.12	64.89	0.4	29.25	32.50	-10.0	-7.5	2.8	-7.8
Rock Hill/Monroe****	43.2	53.7	-19.4	69.27	72.12	-4.0	29.96	38.71	-22.6	-21.1	2.0	-17.8
Spartanburg	43.0	46.1	-6.7	63.24	63.56	-0.5	27.17	29.28	-7.2	-7.2	0.0	-6.7
Greenville	47.4	57.7	-18.0	73.13	75.40	-3.0	34.63	43.54	-20.5	-18.5	2.5	-16.0
Anderson/Clemson	38.6	46.2	-16.3	66.10	67.78	-2.5	25.54	31.31	-18.4	-15.0	4.3	-12.8
Columbia East	42.3	51.8	-18.4	79.23	85.56	-7.4	33.52	44.36	-24.4	-17.8	8.8	-11.2
Columbia West	45.6	56.9	-19.7	60.42	65.38	-7.6	27.57	37.17	-25.8	-22.9	4.0	-16.5
Florence/Dillon	43.7	41.7	4.8	56.41	57.56	-2.0	24.65	24.00	2.7	5.6	2.8	7.7
Orangeburg/Sumter	39.4	42.4	-7.0	63.04	60.45	4.3	24.84	25.62	-3.0	-0.2	2.9	-4.3
Hilton Head/Beaufort	32.5	31.5	3.1	85.96	90.69	-5.2	27.95	28.61	-2.3	0.9	3.3	6.5
I-95 Walterboro/Hardeeville	41.7	42.4	-1.6	54.01	53.75	0.5	22.53	22.78	-1.1	1.2	2.4	0.8
South Carolina SmallTowns	33.3	36.6	-9.0	61.37	59.65	2.9	20.41	21.81	-6.4	-4.5	2.1	-7.1
No. Charleston/Airport	48.5	54.8	-11.5	67.14	68.17	-1.5	32.58	37.38	-12.8	-8.0	5.5	-6.6
Charleston/West Ashley	52.5	57.5	-8.7	121.15	129.40	-6.4	63.61	74.42	-14.5	-16.4	-2.2	-10.7
Mount Pleasant/Isle Of Palms	34.5	44.5	-22.6	84.10	88.67	-5.2	28.99	39.48	-26.6	-22.6	5.4	-18.4
Myrtle Beach North Area	29.7	29.3	1.3	72.51	69.28	4.7	21.54	20.32	6.0	8.6	2.5	3.8
Myrtle Beach & South	23.3	27.5	-15.2	51.54	57.62	-10.5	12.00	15.82	-24.1	-23.8	0.5	-14.8
	Participation
	Properties***		Rooms
Segment	Census	Sample	Census	Sample
United States	49595	26842	4642363	3212684
South Atlantic	10579	6345	1085240	803355
South Carolina	1061	580	101648	62630
Savannah, GA	156	118	14138	11631
Myrtle Beach, SC*	214	65	28304	10561
Martinez/Aiken/I-20*****	58	36	4205	2973
Rock Hill/Monroe****	65	50	5942	5009
Spartanburg	49	28	4127	2552
Greenville	65	48	7413	6218
Anderson/Clemson	47	31	3357	2383
Columbia East	55	44	5349	4628
Columbia West	64	47	5840	4565
Florence/Dillon	57	34	5008	3411
Orangeburg/Sumter	67	35	4364	2593
Hilton Head/Beaufort	48	32	6581	4316
I-95 Walterboro/Hardeeville	48	26	3270	2043
South Carolina SmallTowns	126	45	6866	3147
No. Charleston/Airport	89	61	8521	6550
Charleston/West Ashley	50	28	5919	4150
Mount Pleasant/Isle Of Palms	24	21	2692	2522
Myrtle Beach North Area	62	24	9091	3917
Myrtle Beach & South	152	41	19213	6644
*  "Myrtle Beach" is the combination of "North Myrtle Beach/Conway" and "Myrtle Beach & South."
**  RevPAR = Revenue Per Available Room, i.e., total room revenue divided by total number of room nights.
*** Hotels with 20 or more rooms only
**** "Rock Hill/Monroe" includes parts of Charlotte, Matthews, Monroe, and Pineville in NC, in addition to Rock Hill/York County in SC.
***** "Martinez/Aiken/I-20" includes parts of Septembera, Grovetown, Martinez and Thomson in GA in addition to the Aiken area in SC.
NOTE:  Non-bolded segments are mutually exclusive, i.e., properties reported in Florence/Dillon are not included in the I-95 Corridor.
SOURCE: COPYRIGHT 2008, SMITH TRAVEL RESEARCH, ALL RIGHTS RESERVED
The information contained in this report is based upon independent surveys and research from sources considered reliable but no representation is made as to its completeness or accuracy. This information is in no way to be construed as a recommendation by Smith Travel Research of any industry standard and is intended solely for the internal purposes of your company and should not be published in any manner unless authorized by Smith Travel Research. Copyright 2008 Smith Travel Research.