Hotel real estate sales--transaction activity year end 2005 vs year-end 2004.

HOTEL REAL ESTATE SALES--TRANSACTION ACTIVITY YEAR END
2005 vs YEAR-END 2004

                                  Year-End 2005
                                                        Median Sale
                       Number of    Median #   Median    Price Per
                     Transactions



		

		

		

		

		

		
		
			



		
		
		
		
		
	

   of Rooms    Age         Room

All Hotels                864         111        22        $56,224

Region
  New England/            112         146        30        $82,738
    Mid-Atlantic
  North Central            97         128        19        $42,536
  South Atlantic          266         120        22        $53,853
  South Central            64         125        21        $38,238
  Mountain/Pacific        325          82        23        $60,185

Property Type
  Full-Service            337         191        28        $77,209
  Limited-Service         430          73        21        $44,414
  Extended Stay            60         112         8        $67,813
  All-Suite                37         128        14        $79,960

Affiliation
  Yes                     615         122        20        $54,929
  No                      249          67        43        $58,600

Size of Property
  Over 226 Rooms          158         343        26       $112,678
  151 to 225 Rooms        124         180        26        $55,048
  76 to 150 Rooms         317         108        20        $50,885
  0 to 75 Rooms           265          51        23        $51,429

                                        Year-End 2004

                                                        Median Sale
                       Number of    Median #   Median    Price Per
                     Transactions   of Rooms    Age         Room

All Hotels                763         120        21        $39,259

Region
  New England/             53         140        25        $72,093
    Mid-Atlantic
  North Central           133         120        19        $25,157
  South Atlantic          228         123        21        $37,623
  South Central            83         112        21        $26,027
  Mountain/Pacific        266         100        25        $53,189

Property Type
  Full-Service            283         194        28        $59,211
  Limited-Service         424          79        20        $31,938
  Extended Stay            33         112        17        $40,000
  All-Suite                23         133        10        $71,856

Affiliation
  Yes                     589         124        20        $37,705
  No                      174          64        41        $44,405

Size of Property
  Over 226 Rooms          129         309        27        $66,246
  151 to 225 Rooms        106         182        26        $53,875
  76 to 150 Rooms         302         118        20        $30,266
  0 to 75 Rooms           226          52        22        $39,088

Note: * Readers are advised that the transactions that occur during a
particular month may not be publicly recorded for several months in the
future. Therefore, the number of transactions identified are only those
known as of the Quarterly Trends publication date.

** The data presented is intended to profile the transactions that have
occurred. it is not intended to be a measure of changes in hotel
values.

Sources: PKF Hospitality Research, CoStar, Hotel Brokers Association
and Industry Media.