This excerpt taken from the WYN 10-K filed Feb 27, 2009.
Chain
Scale Segment Forecast 2009
Estimated
2009E
2009E Change
2009E
2009E
2009E
Average Daily
Change in
in Avg. Room
Change in
Change in
Change in
Segment
Room Rate (ADR)
Demand
Avg. Room Supply
Occupancy %
ADR
RevPAR
Luxury
Greater than $210
(5.7)%
5.4 %
(10.5)%
(6.9)%
(16.7)%
Upper upscale
$125 to $210
(5.2)%
2.4 %
(7.4)%
(6.1)%
(13.0)%
Upscale
$95 to $125
(1.2)%
5.5 %
(6.3)%
(5.8)%
(11.8)%
Midscale with food-and-beverage
Less than $95
(10.0)%
(4.1)%
(6.1)%
(5.4)%
(11.2)%
Midscale without Food-and-beverage
Greater than $65
(1.2)%
4.7 %
(5.6)%
(3.7)%
(9.1)%
Economy
Less than $65
(5.6)%
0.9 %
(6.4)%
(3.8)%
(10.0)%
Total
(4.5)%
2.1 %
(6.4)%
(5.2)%
(11.2)%
Sources: Smith
Travel Research (Estimated Average Daily Room Rate (ADR));
PricewaterhouseCoopers (Operating Statistics). 2009 data is as
of January 2009.
Typically, companies in the lodging industry operate under one
or more of the following three business models:
Franchise. Under the franchise model, a company typically
grants the use of a brand name to owners of hotels that the
company neither owns nor manages in exchange for royalty fees
that are typically equal to a percentage of room sales. Owners
of independent hotels increasingly have been affiliating their
hotels with national lodging franchise brands as a means to
remain competitive. In 2008, the share of hotel rooms in the
United States affiliated with a national lodging franchise brand
was approximately 68%.
Management. Under the management model, a company
provides hotel management services to lodging properties that it
owns and/or
lodging properties owned by a third party in exchange for
management fees, which may include incentive fees based on the
financial performance of the properties.
Ownership. Under the ownership model, a company owns
properties and therefore benefits financially from hotel
revenues and any appreciation in the value of the properties.
Bet you've never seen portfolio analytics like these.