Source Strategies, Inc. SECOND QUARTER: MARKET UPTICK. By Bruce H. Walker, Source Strategies, Inc.

Hotel Source Strategies, Inc. BRAND BRAND Report Hotel Industry Performance Results SECOND QUARTER: MARKET UPTICK By Bruce H. Walker, Source Strategies, Inc. August 2016 Issue 126 2nd Quarter 2016 The Market Uptick Page 1 Metros Compared 2nd Quarter 2016 Year To Date - P. 12 Quarter Brand Performance Higher Priced Brands - P. 14 Mid-to-Low Priced Brands - P. 16 Annual Brand Performance Higher Priced Brands - P. 18 Mid-to-Low Priced Brands - P. 20 The Top 100 Hotels of ed by P. 22 2nd Quarter: The Top 500 Hotels ed by P. 25 Services From Source Strategies - P. 39 REVENUES GAINED 3.5%, TO 2.7 BILLION NON O&G AREAS GAINED 8.5%, WHILE OIL & GAS AREAS DECLINED BY 2.5%. In, total Texas revenue gains were 3.3%. This Second quarter state-wide 3.5% gain was a combination of a strong 8.5% increase in the non Oil &Gas areas of the state (54% of rooms), and a 2.6% decline in O&G areas (46% of Texas rooms including Harris & Tarrant counties). REAL GROWTH UP 1.7% - ABOVE THE U.S. GDP (+1.2%) Second quarter room-nights sold gained 1.7% state-wide, after a yearly gain of 0.7% in. In the quarter, Oil & Gas areas (O&G) declined 1.2% while the balance of Texas increased by a healthy 4%. UP 0.7% Revenue Per Available Room was up 0.7%, based on a 1% decrease in occupancy and a price increase of 1.8%. O&G areas suffered a 6% decrease in, while the balance of Texas increased 5.7%. Accurate Tax-based Performance Data from all Texas Hotels, representing 8% of the U.S. market

SECOND QUARTER: MARKET UPTICK 66% SECOND QUARTER OCCUPANCY Second quarter occupancy was 66%, down 0.7 points from last year. Occupancy in was 65%, 63.1% in 2014 and 60.5% in 2013. Second quarter occupancy in non-o&g areas of Texas was 69.2%, up 1.2 points. In Oil & Gas areas, occupancy declined 3.1 points to 62.2%. SUPPLY GROWTH EXCEEDS DEMAND Second quarter net room supply grew by 2.8% (2.4% for the year of ). Net supply gained 1.6% in 2014. With typical price increases, should continue to improve. UPTICK: REVENUES TREND HIGHER After four quarters of declining growth rates, the Second quarter revenues improved with a 3.5% increase. This gain was driven by an 8.5% increase in the Non-Oil & Gas areas of Texas while Oil & Gas areas slipped 2.6%. The 3.5% revenue gains were a combination of a 1.8% price increase and 1.7% growth in room-nights sold. Percentage Change Vs Year Ago Room Room Rooms % Year Supply Rev Sold Occ Price RPAR 2012 0.9 10.0 5.8 4.9 4.0 9.1 2013 1.2 8.6 3.3 2.1 5.2 7.4 2014 1.6 9.7 4.8 3.3 4.6 8.1 2.5 3.3 0.8-1.4 2.5 1.1 1st Q '16 2.7-0.8-0.4-3.0-0.3-3.6 2d Q'16 2.8 3.5 1.7-1.0 1.8 0.7 All information contained in the Hotel Brand Report is based on opinion, surveys and research from sources considered reliable; no representation is made as to accuracy and no liability of any kind can be accepted. 2016, Source Strategies, Inc. Reproduction or quotation is encouraged with attribution. The Hotel Brand Report, Issue 126 is published by Source Strategies, Inc., 134 Laurel Heights Place, San Antonio, Texas 78212-5219. The Hotel Brand Report is published quarterly in March, June, September and December. One year subscription rate is 100. Two years 175. Phone: (210) 734-3434. The Hotel Brand Report is delivered via email and can be printed by recipients. International Serial 10954988. Send address changes to Hotel Brand Report to P.O.Box 120055, San Antonio, Texas 78212-9255, or Amanda@SourceStrategies.org. Visit www.sourcestrategies.org. 2

SECOND QUARTER: MARKET UPTICK % CHANGES VS YEAR AGO Second quarter growth rates were generally positive. Non O&G areas were very strong, with 4% real gains versus just a 2.2% increase in supply; occupancy was 69.2%, up 1.2 points from a year ago. O&G area occupancies dropped 5.3 points to 61.3% while real growth declined 1.2%, possibly near a bottom for this market. STRONG GROWTH IN HALF THE STATE - Dallas-Ft Worth Second quarter revenues rose 12.2%, Austin grew 11.1% and San Antonio 7.3%; these three metros accounted for 54% of Texas revenue in the quarter. Overall, twelve metros showed gains while thirteen declined. Eight metros had gains exceeding 5%. Second Quarter 2016 % Total Revenue* % Metropolitan Areas Market 2016 Change %Occ ADR Dallas-Ft Worth-Arlington 29.0% 701.0 786.9 12.2% 73.5% 108.09 79.45 Houston-Baytown-Sugarland 22.2% 618.6 602.8-2.5% 64.2% 114.25 73.35 Austin-Round Rock 12.9% 315.8 350.9 11.1% 79.2% 141.21 111.84 San Antonio 11.8% 299.8 321.7 7.3% 65.9% 114.51 75.46 Non-Metro Areas 7.2% 213.9 194.8-8.9% 54.0% 79.86 43.12 Corpus Christi 2.9% 76.6 78.5 2.4% 63.1% 106.64 67.29 Midland & Odessa 1.2% 48.6 32.1-34.0% 45.6% 105.81 48.25 Balance of Texas 12.9% 350.8 350.1-0.2% 62.0% 80.82 50.11 Total State of Texas 100.0% 2,625.1 2,717.8 3.5% 66.0% 105.87 69.85 * Millions OIL & GAS AREAS (100 counties) showed a moderating 2.6% loss in revenues. Oil & Gas areas had lost over 7% in each of the prior two quarters. This quarter s revenues dropped most severely in these metros: 39% in Odessa, 30% in Midland, 12% in San Angelo and Victoria. 2nd QUARTER 2016 ROOM ROOM (% CHANGE) NIGHTS REVENUES OIL & GAS COUNTIES* -1.2% -2.6% BALANCE OF TEXAS 4.0% 8.5% *Includes Harris & Tarrant Counties Data above is a summary. Comprehensive and in-depth analysis has been completed for the Governor s Office, Economic Development & Tourism, Research Section and can be examined and downloaded at www.travel.state.tx.us/travelresearch/hotel-reports.aspx or www.sourcestrategies.org/texas. 3

SECOND QUARTER: MARKET UPTICK REVENUES BY PRICE: Largest revenue gains in the past five years have been among higher priced hotels. In 2009, lodging revenues priced above 135 declined 31.2%: 1) consumers traded down or stopped buying; and 2) high-priced hotels reduced their prices to maintain occupancy. In 2010, strongest gains were for low- and mid-priced lodging. From 2011 to the present, the strongest increases have been at highest price levels. t Room Revenues - % Change by Price Level Average 135 & Rate: Under 90 90 to 135 Average 135 Over & Total Rate: 2010 Under 9.1% 90 90 to 7.5% 135 1.5% Over 6.5% Total 2010 2011 4.9% 9.1% 16.1% 7.5% 20.5% 1.5% 12.9% 6.5% 2011 2012 3.0% 4.9% 16.1% 6.4% 24.1% 20.5% 4.0% 12.9% 2012 2013-2.3% 3.0% 3.0% 6.4% 26.5% 24.1% 5.2% 4.0% 2013 2014-2.0% -2.3% 7.3% 3.0% 21.5% 26.5% 4.6% 5.2% 2014-1.5% -2.0% -1.2% 7.3% 9.9% 21.5% 2.5% 4.6% 2016: -1.5% -1.2% 9.9% 2.5% 1st Qtr 0.3% 1.1% -3.1% -0.9% 2016: 2nd Qtr -2.1% 1.9% 7.6% 3.5% 1st Qtr 0.3% 1.1% -3.1% -0.9% 2nd Qtr -2.1% 1.9% 7.6% 3.5% BY PRODUCT SEGMENT: Higher priced chain segments 1 gained revenues in the quarter. The highest gainers were Mini Suites, Upscales, Mid Upscales, Luxury and Suites. All chain segments except Budgets generated occupancies near or above 70%. Independent lodging continued to lag chains, generating a 57% average occupancy. Chain gained 0.7% versus year ago while Independents rose 0.3%. Segment Performance Second Quarter 2016 Results ( 000's) Room % % % Point Rate RPAR Segments Hotels Rooms Chg Revenues Chg Mkt Occup Chg Chg RPAR %Chg Luxury 13 6.8 0.0 123,383 4.3% 4.5% 72.9 1.0 2.9% 200.54 4.3% Upscale 98 40.6 1.4 473,358 8.1% 17.4% 70.8 0.9 3.1% 127.99 4.4% Suites 202 26.0 1.0 253,917 3.7% 9.3% 73.3-1.2 1.3% 107.30-0.4% Mid/Upscales 304 52.0 2.3 432,702 4.5% 15.9% 69.7-0.6 0.8% 91.43-2.8% Mini-Suites 311 28.0 1.8 179,334 8.4% 6.6% 70.1-0.5 2.1% 70.40 1.3% L.S./Midscales 1,102 89.2 1.9 552,265 0.1% 20.3% 67.3-1.1-0.5% 68.05-2.1% Extended Stay 214 27.1 0.6 87,954 5.5% 3.2% 72.0-0.6 4.0% 35.60 3.1% Budget 993 70.2 1.2 212,278-2.0% 7.8% 62.5-1.2-1.2% 33.22-3.2% Total Brands 3,237 340.0 10.0 2,315,191 3.7% 85.2% 68.3-0.6 1.7% 74.84 0.7% Tot. Independ 1,667 87.7 1.9 402,614 2.5% 14.8% 57.0-1.1 2.2% 50.47 0.3% Total Market 4,904 427.6 11.9 2,717,805 3.5% 100% 66.0-0.7 1.8% 69.84 0.7% 1 Limited Service chain hotels offer high-quality rooms without restaurants (e.g. Holiday Express, Hampton). Mini-suite hotels feature room sizes of 1 Limited Service about chain 400 hotels square offer feet. high-quality Luxury hotels rooms are without the highest restaurants priced (e.g. chains Holiday (Westin, Express, Four Hampton). Seasons). Upscales Mini-suite are hotels the large feature full-service, room sizes higher-priced of about 400 hotels square feet. Luxury hotels are the (e.g. highest Marriott, priced Hilton, chains Hyatt). (Westin, Mid-Upscale Four Seasons). hotels Upscales are lower-priced, are the large select full-service, hotels higher-priced (Courtyard, hotels Hilton (e.g. Garden). Marriott, Low Hilton, Priced Hyatt). Extended Mid-Upscale Stay hotels are lower-priced, select includes service brands hotels such (Courtyard, as Budget Hilton Suites Garden). and Value Low Place. Priced Budget Extended chains Stay include includes Motel brands 6, Super such 8, as Days, Budget Ramada Suites and and similar Value hotels. Place. Budget chains include Motel 6, Super 8, Days, Ramada and similar hotels. 4

SECOND QUARTER: MARKET UPTICK The Largest Areas In Texas OIL & GAS AREAS (O&G) In the Second quarter, revenues in the top 100 oil and gas production areas (O&G Counties) declined just 2.6%. This compares to a 12% loss in the First quarter, an 11% decline in the Fourth quarter of and a 5% decline in the Third. Currently, O&G areas account for 42% of Texas room revenues, compared to 45% last year. It is likely that O&G counties will see further modest deterioration in their current levels due to continued declines in demand levels and new supply openings. In the current quarter, O&G lagged non-o&g areas by 20%. % Change* Rooms Rooms Room 2nd Quarter 2016 Available Sold Revenues % Chg Oil & Gas Counties 3.6% -1.2% -2.6% 63.10-6.0% Non Oil & Gas Counties 2.2% 4.0% 8.5% 75.69 5.7% Total Texas 2.8% 1.7% 3.5% 69.85 0.7% *versus Second Quarter Immediately below is a more complete comparison of the oil-related market area, compared to the non O&G areas, and the effect of both on total Texas results: 2nd Quarter EST. EST. RMS* RNS AMT. EST. OILNGAS AREAS* HTL 000S 000S 000S %OCC RATE RPAR 2016 2363 198.685 11,254 1,140,784 62.2 101.37 63.10 2316 191.725 11,387 1,171,231 65.3 102.85 67.13 % CHANGE 3.6% -1.2% -2.6% -4.7% -1.4% -6.0% NON OIL AREAS 2016 2541 228.9 14,417 1,577,011 69.2 109.39 75.69 2521 224.1 13,859 1,453,877 68 104.9 71.59 % CHANGE 2.2% 4.0% 8.5% 1.8% 4.3% 5.7% TOTAL TEXAS 2016 4904 427.6 25,671 2,717,795 66.0 105.87 69.85 4837 415.83 25,247 2,625,118 66.7 103.98 69.37 % CHANGE 2.8% 1.7% 3.5% -1.0% 1.8% 0.7% *includes Harris & Tarrant Counties ROOM-NIGHT DEMAND RECOVERING O&G Room-night demand has grown in the last two quarters, to about 11.25 million room-nights sold in the Second quarter However, the Second quarter was still 1.2% below last year ago (in the 100 county O&G area). 5

SECOND QUARTER: MARKET UPTICK DALLAS METROPOLITAN DIVISION room-nights sold rose a metro-leading 7.2% in the Second quarter (compared to an average increase of 1.7% state-wide). As a result, revenues rose 13.8% to 550 million, while occupancy gained 3.7 points, and rates improved 6.1%. Net room supply increased by only 2.2% (2,500 net rooms). In the year of, Dallas room revenues gained 11.1% on a 6.3% increase in room rates and a strong 4.5% rise in room-nights sold from 2014; occupancy gained 1.9 points to 70.6%. Net room supply increased by 1.7% (1,300 net rooms). AUSTIN-ROUND ROCK room-nights-sold gained very strong 6.1% in the Second quarter, without the legislature being in session. Influenced by a 4.7% price rise, metro revenues gained 11.1% to 351 million. Occupancy gained 0.6 points to 79.2%. In the quarter, Austin s 351 million revenues were 9% above nearby San Antonio - in spite of having 26% fewer rooms for rent. Net room supply increased by 5.2% (1,700 net rooms). For all of, Austin room-nights sold rose 9.1% with occupancy rising 2.4 points to 76.1% in a legislative Texas year; room revenues gained 15% with the help of a 5.4% increase in prices. Net rooms available rose 5.4% (1,700 rooms added). FT. WORTH-ARLINGTON METRO DIVISION room-nights sold grew at 5.2% in the Second quarter. Revenues consequently improved by 8.8%, to 237 million with a 3.5% rate gain. Occupancy rose 2.1 points, to 66.5%. Net room supply rose 1.5% (500 net rooms). In the year of, Ft. Worth-Arlington room revenues gained 8.4% on a 2.9% increase in room rates and a 5.4% rise in room-nights sold from 2014; occupancy gained 2.8 points to 66.8%. Net room supply increased by 0.9% (300 net rooms). SAN ANTONIO METRO room-nights sold increased by 4.2% in the Second quarter of 2016, above Texas average 1.7% increase. With a 3% rate increase, room revenues posted a 7.3% gain over last year, to 322 million. Occupancy rose 1.4 points to 65.9% (after slipping 2 points in the year of ). Net supply grew 2% (900 net rooms). In the year of, San Antonio decreased 1.5% in room-nights sold (while the state had an average gain of 0.7%). San Antonio metro room revenues gained 2.2%, due to the room-night sold drop combined with a 3.8% increase in room rates. Occupancy in was 63.2% down 1.3 points. Net rooms available rose 0.7% (300 net rooms). Oil markets were a small influence. Of note, the downtown Riverwalk San Antonio market demand increased just 0.6% in the three years ending in (to 3.181 million room-nights sold in versus 3.161 million in 2012). In the first half of 2016, the downtown market dropped 0.5% versus last year. HOUSTON-BAYTOWN-SUGAR LAND room-nights sold volume slipped 1.6% in the Second quarter, mainly affected by the massive drop in oil prices. Revenues dropped 2.5%, to 603 million on a 1% price reduction. Occupancy dropped 4.4 points to a still healthy 64.2%. Metro room supply rose by 5.1% (4,400 net rooms). In the quarter, Houston s 603 million revenues lost ground versus the largest metro, Dallas-Ft Worth, at 787 million, In the year of, Houston room-nights slipped 1.3% while room revenues gained 0.5%; then, occupancy decreased 2.7 points to a 66.2% average. prices rose 1.8% and supply by 2.6% (2,200 net rooms). 6

SECOND QUARTER: MARKET UPTICK Occupancy Year to Date In the first six months of 2016, occupancy averaged 65.6%, down from 67% last year and still well above the long term annual average of 60%. The table below is sorted by occupancy percentage in the first half of 2016. It clearly shows the continued negative effect of shrinking oil and gas exploration and production activity. In Oil & Gas counties, accounting for 42% of state revenues, occupancy averaged 62.4%, down 3.7 points from the First half of. First half Chain occupancy was 67.8%, down 1.3 points from a year ago. Chains accounted for 85.9% of market revenues, slightly up from a year ago. Independents generated 56.8% occupancy, down 1.8 points. In the First half, 10 of the 27 Texas areas showed increased occupancy versus last year. Seven metro areas exceeded the state occupancy average including the four largest metros. Metro Area Performances _ Year of _ First Half 2016 Occ Rev Occ Pt. Rev Metro Area % % Chg % Chg % Chg Austin-Round Rock 76.1 15.0% 77.4-0.1 10.0% Dallas MD 70.6 11.1% 76.2 2.8 10.7% Waco 68.3 10.1% 72.3 4.0 19.1% Wichita Falls 62.1 2.2% 67.8 5.7 8.1% El Paso 66.8 6.9% 67.6-0.9 1.1% Ft Worth-Arlington MD 66.8 8.4% 67.0 1.5 5.2% Lubbock 65.8 3.2% 66.9 1.1 6.6% State Average 64.9 3.3% 65.6-1.4 1.4% San Antonio 63.2 2.2% 65.3-0.6 3.1% Houston-Baytown-Sugarland 66.2 0.5% 64.6-4.4-2.7% Amarillo 66.8 9.5% 64.2-0.5 3.2% Beaumont-Pt Arthur 62.1 5.2% 62.3-2.8-9.2% College Station-Bryan 65.1-5.1% 62.0-2.9-0.2% Killeen-Temple-Ft Hood 56.8-3.2% 60.3 2.3-0.9% Brownsville-Harlingen 65.1-1.0% 59.6 5.2 1.9% Texarkana (Tx) 53.4 16.0% 59.5 5.6 18.7% McAllen-Edinburg-Pharr 60.5-0.8% 59.4-3.2-4.7% Laredo 64.8-10.8% 59.3-4.7-9.6% Corpus Christi 56.1 4.4% 58.2 0.4 1.7% Tyler 58.7 7.9% 57.0-5.9-11.9% Sherman-Denison 55.2-9.5% 55.3 4.4 9.6% Abilene 58.2 1.3% 55.1-7.2-6.2% Non Metro 54.9-8.7% 53.3-3.9-12.5% Midland 65.2-21.8% 52.5-21.1-33.2% Longview 57.6-0.5% 52.4-10.1-14.8% Victoria 54.5-22.1% 50.6-6.7-17.7% Odessa 60.1-25.8% 48.5-19.6-43.9% San Angelo 60.1-0.5% 47.6-12.5-21.2% 7

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METROS COMPARED: 2ND QUARTER 2016 HOTEL/MOTEL PERFORMANCE BY METRO; SECOND QUARTER 2016 % Change Nites 1 3 Est. Nites 3 Est. Rooms sold Revenue % 2 Rooms sold Revenue % Nites Htls 000 s 000 s 000 s Rate Occ Htls 000 s 000 s 000 s Rate Occ Sold Revs Occ. Abilene 34 2.8 162 13,806 84.97 63.2 37 3.1 164 13,573 82.89 58.2 1.2-1.7-7.9 Amarillo 63 5.7 359 27,953 77.91 68.7 66 5.9 368 29,314 79.73 68.4 2.5 4.9 -.4 Austin-R R 342 32.8 2,342 315,786 134.82 78.6 355 34.5 2,485 350,914 141.21 79.2 6.1 11.1.8 Beaumt-PT 77 6.0 342 26,191 76.60 63.0 73 5.7 314 24,183 76.92 60.2-8.2-7.7-4.4 Browns/Har 107 6.8 353 37,092 104.98 57.0 105 6.6 345 35,517 102.88 57.8-2.3-4.2 1.4 ColSt-Brya 56 4.6 275 26,920 97.73 66.5 60 4.9 293 28,397 97.05 65.2 6.5 5.5-2.0 Corpus Chr 202 12.7 690 76,619 111.01 59.8 200 12.8 736 78,462 106.64 63.1 6.7 2.4 5.5 Dallas MD 5.1 569 73.8 4,896 483,308 98.72 72.9 580 75.4 5,250 549,954 104.75 76.6 7.2 13.8 Ft W-Arl M 306 33.0 1,930 217,740 112.79 64.4 312 33.5 2,030 236,921 116.73 66.5 5.2 8.8 3.3 Dallas/Ft W 875 106.8 6,826 701,049 102.70 70.2 892 108.9 7,280 786,875 108.09 73.5 6.7 12.2 4.7 El Paso 2.2 79 9.0 587 46,599 79.42 71.7 81 9.2 558 45,261 81.17 66.6-4.9-2.9-7.1 Hou-Bay-Su 920 85.9 5,363 618,595 115.34 68.6 962 90.3 5,277 602,829 114.25 64.2-1.6-2.5-6.4 Kil-Tem-Ft 73 4.9 257 18,731 72.89 57.4 71 4.9 270 19,245 71.36 61.1 5.1 2.7 6.4 Laredo 39 3.9 222 15,278 68.73 63.0 39 3.9 214 14,286 66.67 60.1-3.6-6.5-4.6 Longview 43 2.7 152 10,950 72.10 62.8 47 2.9 137 9,565 69.98 52.2-9.9-12.6-16.9 Lubbock 56 5.0 324 28,053 86.48 71.0 60 5.5 351 29,527 84.04 70.5 8.3 5.3 -.7 McAl-Ed-Mi 90 6.7 363 28,190 77.62 59.8 91 6.9 357 27,009 75.74 56.8-1.7-4.2-5.0 Midland 46 4.0 242 27,898 115.07 66.4 49 4.4 184 19,438 105.81 45.6-24.0-30.3-31.3 Odessa 38 3.4 191 20,686 108.11 62.2 36 3.3 128 12,619 98.25 43.2-33.0-39.0-30.5 San Angelo 28 2.2 116 9,292 79.96 56.8 29 2.6 111 8,208 74.09 47.5-4.3-11.7-16.4 San Antoni 467 46.0 2,697 299,768 111.14 64.5 464 46.9 2,810 321,747 114.51 65.9 4.2 7.3 Shermn/Den 19 1.4 60 4,782 80.34 47.7 21 1.4 69 5,789 84.17 54.3 15.0 21.1 13.8 Texarka(TX 20 1.6 79 5,799 73.67 54.0 20 1.6 92 6,979 75.90 61.8 16.5 20.3 14.4 Tyler 44 3.1 177 14,543 82.14 62.7 45 3.2 172 13,662 79.38 58.9-2.8-6.1-6.1 Victoria 45 2.6 124 9,382 75.41 52.6 42 2.6 118 8,230 69.64 50.0-4.8-12.3-4.9 Waco 43 3.6 237 19,082 80.44 72.7 49 4.0 270 22,824 84.44 74.7 13.9 19.6 2.8 Wichita Fa 27 2.0 126 8,164 64.74 67.9 26 2.0 130 8,545 65.63 71.5 3.2 4.7 5.3 Non-Metro 1,004 49.7 2,577 213,910 83.00 56.9 984 49.7 2,439 194,798 79.86 54.0-5.4-8.9-5.1 Total Texas 4,837 415.8 25,247 2,625,118 103.98 66.7 4,904 427.6 25,670 2,717,795 105.87 66.0 1.7 3.5-1.0 2014 Total Texas 4,745 407.7 25,224 2,559,833 101.48 68.0 1. Room-nights sold (from estimated rate and actual rooms revenues.). 2. Occupancy: nights sold divided by nights available (x 100). 3. Taxable and gross rooms revenues are from Texas Comptroller (with 12%+ added on average if gross not reported; covers monthly, government, charity, educational rents). Prepared by Source Strategies, Inc., P.O. Box 120055, San Antonio, Texas 78212. (210) 734-3434 FAX (210) 735-7970 Website:SourceStrategies.Org 12

METROS COMPARED: 2016 YEAR-TO-DATE HOTEL/MOTEL PERFORMANCE BY METRO; SECOND QUARTER YEAR TO DATE 2016 % Change Nites 1 3 Est. Nites 3 Est. Rooms sold Revenue % 2 Rooms sold Revenue % Nites Htls 000 s 000 s 000 s Rate Occ Htls 000 s 000 s 000 s Rate Occ Sold Revs Occ. Metropolitan Statistical Areas Abilene 34 2.8 316 26,133 82.69 62.3 37 3.1 308 24,507 79.53 55.1-2.5-6.2-11.6 Amarillo 63 5.8 678 50,298 74.20 64.7 64 5.9 686 51,930 75.69 64.2 1.2 3.2 -.8 Austin-R Ro 336 32.4 4,547 619,632 136.26 77.5 349 34.3 4,810 681,673 141.71 77.4 5.8 10.0 -.1 Beaumt-PT A 77 6.0 706 50,397 71.43 65.1 73 5.7 647 45,753 70.73 62.3-8.4-9.2-4.3 Browns/Harl 102 7.0 688 66,304 96.44 54.4 100 6.6 710 67,592 95.17 59.6 3.2 1.9 9.6 ColSt-Bryan 55 4.5 534 50,116 93.85 64.9 59 4.9 546 49,996 91.63 62.0 2.2 -.2-4.5 Corpus Chri 181 11.9 1,245 127,507 102.45 57.8 182 12.3 1,295 129,684 100.13 58.2 4.0 1.7.7 Dallas MD 567 73.5 9,770 958,952 98.15 73.4 575 74.9 10,329 1,061,956 102.82 76.2 5.7 10.7 3.8 Ft W-Arl MD 303 32.9 3,894 424,564 109.03 65.5 309 33.3 4,040 446,722 110.59 67.0 3.7 5.2 2.3 Total DFW 870 106.3 13,664 1,383,516 101.25 71.0 884 108.2 14,368 1,508,678 105.00 73.3 5.2 9.0 3.2 El Paso 79 9.0 1,112 86,152 77.50 68.5 81 9.1 1,115 87,073 78.07 67.6.3 1.1-1.3 Hou-Bay-Sug 906 85.1 10,620 1,205,901 113.55 69.0 948 89.3 10,442 1,172,822 112.32 64.6-1.7-2.7-6.4 Kil-Tem-FtH 73 4.9 520 35,829 68.96 58.0 70 4.8 525 35,497 67.63 60.3 1.0 -.9 4.0 Laredo 39 3.9 449 31,431 69.94 64.0 39 3.9 420 28,420 67.64 59.3-6.5-9.6-7.3 Longview 43 2.7 302 21,147 70.11 62.5 46 2.8 265 18,021 68.05 52.4-12.3-14.8-16.2 Lubbock 56 5.0 597 50,306 84.30 65.8 60 5.4 651 53,604 82.29 66.9 9.0 6.6 1.7 McAl-Ed-Mi 89 6.6 752 59,065 78.54 62.6 91 6.8 736 56,303 76.50 59.4-2.1-4.7-5.1 Midland 45 4.0 529 61,212 115.65 73.6 49 4.4 416 40,902 98.28 52.5-21.4-33.2-28.7 Odessa 38 3.4 415 47,325 114.05 68.1 36 3.3 287 26,570 92.45 48.5-30.8-43.9-28.8 San Angelo 28 2.3 248 19,643 79.07 60.1 29 2.6 220 15,488 70.35 47.6-11.3-21.2-20.8 San Antonio 452 45.4 5,413 594,151 109.77 65.9 453 46.6 5,503 612,561 111.32 65.3 1.7 3.1 -.9 Shermn/Deni 19 1.4 127 9,099 71.65 50.9 21 1.4 138 9,975 72.33 55.3 8.7 9.6 8.6 Texarka(TX) 20 1.6 156 10,758 68.94 53.9 20 1.6 175 12,769 72.97 59.5 12.2 18.7 10.4 Tyler 44 3.1 354 28,099 79.31 62.9 45 3.2 331 24,746 74.79 57.0-6.5-11.9-9.4 Victoria 43 2.5 264 19,392 73.38 57.3 41 2.6 235 15,957 67.93 50.6-11.0-17.7-11.7 Waco 43 3.6 443 34,541 77.88 68.3 47 3.8 502 41,152 81.98 72.3 13.3 19.1 5.9 Wichita Fal 27 2.1 235 14,484 61.74 62.1 26 2.0 246 15,656 63.75 67.8 4.7 8.1 9.2 Non-Metro 972 49.2 5,098 411,514 80.72 57.2 955 49.2 4,751 360,114 75.80 53.3-6.8-12.5-6.8 Total Texas 4,731 412.5 50,011 5,113,952 102.26 67.0 4,801 423.8 50,329 5,187,440 103.07 65.6.6 1.4-2.1 2014 YTD 4,650 404.9 49,128 4,857,393 98.87 67.0 1. Room-nights sold (from estimated rate and actual rooms revenues.). 2. Occupancy: nights sold divided by nights available (x 100). 3. Taxable and gross rooms revenues are from Texas Comptroller (with 12%+ added on average if gross not reported; covers monthly, government, charity, educational rents). Prepared by Source Strategies, Inc., P.O. Box 120055, San Antonio, Texas 78212. (210) 734-3434 FAX (210) 735-7970 Website:SourceStrategies.Org 13

HIGH-PRICED BRAND PERFORMANCE RESULTS Second Quarter 2016 [^=Change from same quarter of prior year (absolute value unless marked percentage)] Brands/ Hotels 1 Room 2 Rooms-M Revenues(000's) % Revenues 3 % Rmnts Sold 4 Segments 2016 2016 ^ 2016 %^ 2016 ^ 2016 ^ Four Seasons 3 1.2 1.2 0.0 24,261 23,546-2.9% 0.9 0.9 0.0 0.3 0.3 0.0 Gaylord 1 1.5 1.5 0.0 20,465 23,421 14.4% 0.8 0.9 0.1 0.3 0.4 0.0 JW Marriott 4 2.9 2.9 0.0 47,995 51,039 6.3% 1.8 1.9 0.1 0.8 0.7 0.0 Ritz Carlton 1 0.2 0.2 0.0 5,542 5,794 4.5% 0.2 0.2 0.0 0.1 0.1 0.0 W 2 0.5 0.5 0.0 11,154 10,925-2.1% 0.4 0.4 0.0 0.1 0.1 0.0 Za Za 2 0.5 0.5 0.0 8,920 8,658-2.9% 0.3 0.3 0.0 0.1 0.1 0.0 Luxury Segment 13 6.8 6.8 0.0 118,337 123,383 4.3% 4.5 4.5 0.0 1.8 1.7 0.0 Hilton 26 10.4 10.4 0.0 113,485 121,184 6.8% 4.3 4.5 0.2 2.6 2.7 0.1 Hyatt 15 7.1 7.6 0.5 84,578 91,336 8.0% 3.2 3.4 0.2 1.8 1.8 0.1 Inter-Continental 2 0.7 0.7 0.0 7,429 7,056-5.0% 0.3 0.3 0.0 0.2 0.2 0.0 Marriott 25 9.7 9.7 0.0 102,021 103,345 1.3% 3.9 3.8-0.1 2.4 2.4-0.1 Omni 12 5.3 5.3 0.0 62,375 67,081 7.5% 2.4 2.5 0.1 1.4 1.4 0.0 Renaissance 5 2.0 2.0 0.0 20,789 22,928 10.3% 0.8 0.8 0.0 0.5 0.5 0.0 Westin 13 4.0 4.9 0.9 47,030 60,428 28.5% 1.8 2.2 0.4 1.0 1.2 0.2 Upscale Segment 98 39.2 40.6 1.4 437,707 473,358 8.1% 16.7 17.4 0.7 9.9 10.2 0.3 Embassy 23 5.1 5.2 0.1 56,525 59,098 4.6% 2.2 2.2 0.0 1.3 1.4 0.0 Homewood 52 5.0 5.2 0.2 49,136 50,568 2.9% 1.9 1.9 0.0 1.4 1.4 0.0 Hyatt House/Summerfield 9 1.1 1.2 0.1 9,283 11,241 21.1% 0.4 0.4 0.0 0.3 0.3 0.0 Residence Inn 64 7.0 7.2 0.2 68,928 67,021-2.8% 2.6 2.5-0.1 2.0 1.9-0.1 Staybridge 36 3.4 3.7 0.3 27,007 29,110 7.8% 1.0 1.1 0.1 0.9 1.0 0.0 Other Suites 18 3.4 3.4 0.0 33,958 36,879 8.6% 1.3 1.4 0.1 0.8 0.9 0.0 Suites Segment 202 25.0 25.9 0.9 244,837 253,917 3.7% 9.3 9.3 0.0 6.7 6.8 0.0 Four Points 7 0.8 0.9 0.1 6,475 6,545 1.1% 0.2 0.2 0.0 0.2 0.2 0.0 Aloft 8 1.0 1.1 0.1 10,451 11,385 8.9% 0.4 0.4 0.0 0.3 0.3 0.0 Courtyard 89 10.9 11.5 0.6 92,954 96,911 4.3% 3.5 3.6 0.1 2.8 2.9 0.0 Crowne Plaza 10 3.2 2.9-0.3 22,965 19,830-13.7% 0.9 0.7-0.2 0.8 0.7-0.1 Doubletree 22 5.1 5.7 0.6 46,380 52,320 12.8% 1.8 1.9 0.1 1.3 1.4 0.1 Hilton Garden 55 7.0 7.5 0.5 65,645 69,041 5.2% 2.5 2.5 0.0 1.8 1.9 0.1 Holiday Inn 45 8.5 7.9-0.6 57,985 54,925-5.3% 2.2 2.0-0.2 2.1 1.9-0.2 Hyatt Place 26 3.3 3.5 0.2 31,183 33,875 8.6% 1.2 1.2 0.0 0.9 0.9 0.1 Radisson 6 1.0 1.4 0.4 8,908 10,798 21.2% 0.3 0.4 0.1 0.3 0.3 0.1 Sheraton 12 5.2 5.2 0.0 41,211 43,789 6.3% 1.6 1.6 0.0 1.2 1.3 0.1 Wyndahm 14 2.6 3.1 0.5 20,261 21,572 6.5% 0.8 0.8 0.0 0.6 0.7 0.1 Other Mid/Upscale 10 1.1 1.3 0.2 9,777 11,711 19.8% 0.4 0.4 0.0 0.3 0.3 0.0 Mid/Upscales 304 49.7 52.0 2.3 414,195 432,702 4.5% 15.8 15.9 0.1 12.6 12.8 0.2 Mid-and L P Segments Mini-Suites 311 26.1 27.9 1.8 165,457 179,334 8.4% 6.3 6.6 0.3 6.7 7.0 0.3 L.S./Midscales 1102 87.2 89.1 1.9 551,717 552,266 0.1% 21.0 20.3-0.7 21.5 21.3-0.2 Low Price Extended Stay 214 26.5 27.2 0.7 83,334 87,954 5.5% 3.2 3.2 0.0 6.9 6.9 0.0 Budget Segment 993 69.4 70.2 0.8 216,630 212,276-2.0% 8.3 7.8-0.5 15.9 15.6-0.4 Total Chains 3237 329.9 339.7 9.8 2,232,214 2,315,190 3.7% 85.0 85.2 0.2 82.0 82.3 0.3 Independents 100+ ADR 547 26.3 26.8 0.5 245,238 257,420 5.0% 9.3 9.5 0.2 5.5 5.5 0.0 60-99.99 274 14.0 13.6-0.4 54,648 53,682-1.8% 2.1 2.0-0.1 2.9 2.8-0.1 Under 60 846 45.6 47.5 1.9 93,018 91,513-1.6% 3.5 3.4-0.1 9.7 9.5-0.2 Total Independents 1667 85.9 87.9 2.0 392,904 402,615 2.5% 15.0 14.8-0.2 18.0 17.7-0.3 Total Market 4904 415.8 427.6 11.8 2,625,118 2,717,805 3.5% 100.0 100.0 0.0 100.0 100.0 100.0 1. All Texas Hotels and Motels with rooms-only revenues exceeding 80,000 per year. 2. Gross Room Revenue (000's) includes non-tax revenues (approx. 11% of total). 3. % Gross Room Revenues. 4. %Roomnights Sold: derived from room revenues, roomnights and estimated ADR. 14

HIGH-PRICED BRAND PERFORMANCE RESULTS Second Quarter 2016 [^=Change from same quarter of prior year (absolute value unless marked percentage)] Brands/ % Occupancy 5 Est. ADR 6 Index 7 Segments 2016 ^ 2016 %^ 2016 ^ 2016 ^ Four Seasons 75.9 71.1-4.8 295.02 305.66 3.6% 223.92 217.32-6.60 323 311-12 Gaylord 63.1 67.9 4.8 235.92 251.02 6.4% 148.87 170.44 21.58 215 244 29 JW Marriott 73.2 74.0 0.8 252.16 265.17 5.2% 184.58 196.23 11.64 266 281 15 Ritz Carlton 78.7 79.3 0.6 355.04 368.11 3.7% 279.42 291.91 12.49 403 418 15 W 77.9 82.1 4.2 312.95 290.62-7.1% 243.79 238.60-5.19 351 341-10 Za Za 72.6 73.6 1.0 280.29 268.26-4.3% 203.49 197.44-6.05 293 283-10 Luxury Segment 71.9 72.9 1.0 267.49 275.15 2.9% 192.33 200.58 8.26 277 287 10 Hilton 69.2 72.5 3.3 172.86 176.31 2.0% 119.62 127.82 8.21 172 183 11 Hyatt 68.5 67.9-0.6 190.70 194.60 2.0% 130.63 132.13 1.50 188 189 1 Inter-Continental 70.8 70.1-0.7 160.51 153.90-4.1% 113.64 107.88-5.76 164 154-10 Marriott 70.2 69.8-0.4 165.04 168.19 1.9% 115.86 117.40 1.54 167 168 1 Omni 71.1 72.9 1.8 181.39 190.39 5.0% 128.97 138.79 9.83 186 199 13 Renaissance 70.5 73.8 3.3 161.09 169.80 5.4% 113.57 125.31 11.74 164 179 15 Westin 71.3 70.5-0.8 181.72 192.11 5.7% 129.57 135.44 5.87 187 194 7 Upscale Segment 69.9 70.8 0.9 175.35 180.75 3.1% 122.57 127.97 5.40 177 183 6 Embassy 73.2 73.4 0.2 166.27 168.93 1.6% 121.71 123.99 2.28 175 177 2 Homewood 75.9 73.4-2.5 142.78 144.32 1.1% 108.37 105.93-2.44 156 152-4 Hyatt House/Summerfield 73.7 73.6-0.1 126.01 136.33 8.2% 92.87 100.34 7.47 134 144 10 Residence Inn 77.8 73.9-3.9 139.97 138.90-0.8% 108.90 102.65-6.25 157 147-10 Staybridge 73.8 73.0-0.8 117.23 118.34 0.9% 86.52 86.39-0.13 125 124-1 Other Suites 69.1 71.9 2.8 158.99 165.32 4.0% 109.86 118.87 9.00 158 170 12 Suites Segment 74.5 73.3-1.2 144.52 146.41 1.3% 107.67 107.32-0.35 155 154-1 Four Points 66.9 62.2-4.7 127.13 122.48-3.7% 85.05 76.18-8.87 123 109-14 Aloft 75.9 74.0-1.9 146.42 148.41 1.4% 111.13 109.82-1.31 160 157-3 Courtyard 71.6 70.1-1.5 130.46 131.66 0.9% 93.41 92.29-1.12 135 132-3 Crowne Plaza 70.0 70.1 0.1 114.30 107.29-6.1% 80.01 75.21-4.80 115 108-7 Doubletree 71.5 71.2-0.3 139.21 142.39 2.3% 99.54 101.38 1.85 144 145 1 Hilton Garden 72.1 71.0-1.1 143.53 142.81-0.5% 103.49 101.40-2.09 149 145-4 Holiday Inn 69.6 67.9-1.7 108.29 113.10 4.4% 75.37 76.79 1.43 109 110 1 Hyatt Place 72.8 73.4 0.6 144.36 143.92-0.3% 105.09 105.64 0.54 152 151-1 Radisson 71.3 67.4-3.9 132.32 127.05-4.0% 94.34 85.63-8.71 136 123-13 Sheraton 65.1 69.5 4.4 133.91 133.24-0.5% 87.18 92.60 5.43 126 133 7 Wyndham 65.7 62.6-3.1 129.05 123.15-4.6% 84.79 77.09-7.69 122 110-12 Other Mid/Upscale 72.2 72.0-0.2 135.12 137.43 1.7% 97.56 98.95 1.39 141 142 1 Mid/Upscales 70.3 69.7-0.6 130.16 131.24 0.8% 91.50 91.47-0.03 132 131-1 Mid-and-L P Segments Mini-Suites 70.6 70.1-0.5 98.39 100.47 2.1% 69.46 70.43 0.97 100 101 1 L.S./Midscales 68.4 67.3-1.1 101.61 101.09-0.5% 69.50 68.03-1.47 100 97-3 Low Price Extended Stay 72.6 72.0-0.6 47.55 49.44 4.0% 34.52 35.60 1.08 50 51 1 Budget Segment 63.7 62.5-1.2 53.82 53.18-1.2% 34.28 33.24-1.05 49 48-1 Total Chains 68.9 68.3-0.6 107.81 109.63 1.7% 74.28 74.88 0.60 107 107 0 Independents 100+ ADR 57.4 57.6 0.2 178.15 183.49 3.0% 102.26 105.69 3.43 147 151 4 60-99.99 56.5 57.0 0.5 75.86 76.04 0.2% 42.86 43.34 0.48 62 62 0 Under 60 59.1 56.8-2.3 38.07 37.47-1.6% 22.50 21.28-1.22 32 30-2 Total Independents 58.1 57.0-1.1 86.54 88.47 2.2% 50.28 50.43 0.15 72 72 0 Total Market 66.7 66.0-0.7 103.99 105.88 1.8% 69.36 69.88 0.52 100 100 5. Roomnights sold divided by roomnights available (times 100). Roomnights sold equals room revenues divided by estimated average daily rate (ADR). 6. Room revenue, per available rom per day (equals occupancy % times ADR). 7. Market average equals 100. 15

MID/LOW-PRICED BRAND PERFORMANCE RESULTS Second Quarter 2016 [^=Change from same quarter of prior year (absolute value unless marked percentage)] Brands/ Hotels 1 Room 2 Rooms-M Revenues(000's) % Revenues 3 % Rmnts Sold 4 Segments 2016 2016 ^ 2016 %^ 2016 ^ 2016 ^ High-Priced Segments Luxury Segment 13 6.8 6.8 0.0 118,337 123,383 4.3% 4.5 4.5 0.0 1.8 1.7 0.0 Upscale Segment 98 39.2 40.6 1.4 437,707 473,358 8.1% 16.7 17.4 0.7 9.9 10.2 0.3 Suites Segment 202 25.0 25.9 0.9 244,837 253,917 3.7% 9.3 9.3 0.0 6.7 6.8 0.0 Mid/Upscales 304 49.7 52.0 2.3 414,195 432,702 4.5% 15.8 15.9 0.1 12.6 12.8 0.2 Candlewood 69 6.2 6.4 0.2 35,440 35,326-0.3% 1.4 1.3-0.1 1.7 1.6 0.0 Comfort Suites 106 7.8 7.4-0.4 44,359 41,619-6.2% 1.7 1.5-0.2 1.9 1.8-0.1 Hawthorn 20 1.8 1.9 0.1 9,389 9,996 6.5% 0.4 0.4 0.0 0.5 0.5 0.0 Home2 Suites 13 1.0 1.3 0.3 8,333 12,475 49.7% 0.3 0.5 0.2 0.3 0.4 0.1 Quality Suites 4 0.2 0.2 0.0 747 986 32.0% 0.0 0.0 0.0 0.0 0.1 0.0 SpringHill 48 4.5 5.5 1.0 36,276 43,423 19.7% 1.4 1.6 0.2 1.2 1.4 0.2 Townplace 39 3.5 4.1 0.6 24,749 29,267 18.3% 0.9 1.1 0.2 0.9 1.0 0.1 Other Mini-Suites 12 1.1 1.1 0.0 6,164 6,242 1.3% 0.2 0.2 0.0 0.3 0.3 0.0 Mini-Suites 311 26.1 27.9 1.8 165,457 179,334 8.4% 6.3 6.6 0.3 6.7 7.0 0.3 Best Western 223 14.1 13.7-0.4 73,323 69,806-4.8% 2.8 2.6-0.2 3.3 3.2-0.2 Country Inn & Suites 27 1.6 2.0 0.4 9,348 10,335 10.6% 0.4 0.4 0.0 0.4 0.5 0.1 Comfort Inn 70 4.9 4.8-0.1 24,419 23,830-2.4% 0.9 0.9 0.0 1.2 1.1-0.1 Drury Inn 17 2.8 2.8 0.0 20,510 20,751 1.2% 0.8 0.8 0.0 0.7 0.7 0.0 Fairfield Inn 73 5.6 6.3 0.7 38,707 43,347 12.0% 1.5 1.6 0.1 1.4 1.6 0.1 Hampton Inn 178 14.8 15.6 0.8 119,454 124,326 4.1% 4.6 4.6 0.0 3.8 3.8 0.1 Holiday Express 234 18.3 18.9 0.6 130,395 129,295-0.8% 5.0 4.8-0.2 4.5 4.5 0.0 La Quinta 232 21.5 21.4-0.1 117,342 112,888-3.8% 4.5 4.2-0.3 5.3 5.1-0.2 Sleep Inn 32 2.1 2.1 0.0 10,456 10,394-0.6% 0.4 0.4 0.0 0.5 0.5 0.0 Wingate 16 1.5 1.5 0.0 7,763 7,294-6.0% 0.3 0.3 0.0 0.4 0.4 0.0 L.S./Midscales 1102 87.2 89.1 1.9 551,717 552,266 0.1% 21.0 20.3-0.7 21.5 21.3-0.2 Budget Stes America 11 4.0 4.0 0.0 11,395 12,478 9.5% 0.4 0.5 0.1 1.0 1.1 0.1 Ext Stay America 62 6.6 6.9 0.3 23,177 28,133 21.4% 0.9 1.0 0.1 1.5 1.8 0.3 Intown 38 4.8 5.0 0.2 15,057 13,892-7.7% 0.6 0.5-0.1 1.4 1.2-0.2 Studio 6 41 3.8 4.3 0.5 11,828 13,218 11.8% 0.5 0.5 0.0 1.0 1.0 0.1 Value Place 38 4.5 4.5 0.0 12,264 12,955 5.6% 0.5 0.5 0.0 1.1 1.1 0.0 Other LP Ext St 24 2.8 2.5-0.3 9,613 7,278-24.3% 0.4 0.3-0.1 0.8 0.6-0.2 Low Price Extended Stay 214 26.5 27.2 0.7 83,334 87,954 5.5% 3.2 3.2 0.0 6.9 6.9 0.0 Baymont 39 3.1 2.9-0.2 11,655 10,274-11.8% 0.4 0.4 0.0 0.7 0.6-0.1 Best Value 107 6.5 6.4-0.1 15,798 14,928-5.5% 0.6 0.5-0.1 1.5 1.4-0.1 Days Inn 144 8.9 9.2 0.3 28,171 28,532 1.3% 1.1 1.0-0.1 2.0 2.0 0.0 Econo Lodge 50 2.8 3.1 0.3 7,390 8,066 9.1% 0.3 0.3 0.0 0.6 0.7 0.0 How. Johnson 16 1.3 1.0-0.3 3,805 3,403-10.6% 0.1 0.1 0.0 0.3 0.2-0.1 Microtel 27 2.0 1.8-0.2 8,108 6,700-17.4% 0.3 0.2-0.1 0.5 0.4-0.1 Motel 6 167 13.7 14.6 0.9 41,794 43,971 5.2% 1.6 1.6 0.0 3.4 3.5 0.1 Quality Inn 92 6.2 6.9 0.7 23,166 24,668 6.5% 0.9 0.9 0.0 1.4 1.5 0.1 Ramada Inn 20 2.3 2.2-0.1 8,744 8,213-6.1% 0.3 0.3 0.0 0.6 0.5-0.1 Red Roof Inn 34 3.8 3.9 0.1 13,069 13,545 3.6% 0.5 0.5 0.0 0.9 0.9 0.0 Rodeway 23 1.5 1.4-0.1 3,546 3,076-13.3% 0.1 0.1 0.0 0.3 0.3 0.0 Super 8 154 9.6 9.3-0.3 31,935 29,874-6.5% 1.2 1.1-0.1 2.2 2.1-0.1 Travelodge 18 1.6 1.3-0.3 4,183 2,681-35.9% 0.2 0.1-0.1 0.3 0.3-0.1 Other Budgets 102 6.1 6.2 0.1 15,266 14,345-6.0% 0.6 0.5-0.1 1.3 1.3 0.0 Budget Segment 993 69.4 70.2 0.8 216,630 212,276-2.0% 8.3 7.8-0.5 15.9 15.6-0.4 Total Chains 3237 329.9 339.7 9.8 2,232,214 2,315,190 3.7% 85.0 85.2 0.2 82.0 82.3 0.3 Total Independents 1667 85.9 87.9 2.0 392,904 402,615 2.5% 15.0 14.8-0.2 18.0 17.7-0.3 Total Market 4904 415.8 427.6 11.8 2,625,118 2,717,805 3.5% 100.0 100.0 0.0 100.0 100.0 100.0 1. All Texas Hotels and Motels with rooms-only revenues exceeding 80,000 per year. 2. Gross Room Revenue (000's) includes non-tax revenues (approx. 11% of total). 3. % Gross Room Revenues. 4. %Roomnights Sold: derived from room revenues, roomnights and estimated ADR. 16

MID/LOW-PRICED BRAND PERFORMANCE RESULTS Second Quarter 2016 [^=Change from same quarter of prior year (absolute value unless marked percentage)] Brands/ % Occupancy 5 Est. ADR 6 Index 7 Segments 2016 ^ 2016 %^ 2016 ^ 2016 ^ High-Priced Segments Luxury Segment 71.9 72.9 1.0 267.49 275.15 2.9% 192.33 200.58 8.26 277 287 10 Upscale Segment 69.9 70.8 0.9 175.35 180.75 3.1% 122.57 127.97 5.40 177 183 6 Suites Segment 74.5 73.3-1.2 144.52 146.41 1.3% 107.67 107.32-0.35 155 154-1 Mid/Upscales 70.3 69.7-0.6 130.16 131.24 0.8% 91.50 91.47-0.03 132 131-1 Candlewood 73.9 71.4-2.5 85.03 84.99 0.0% 62.84 60.68-2.15 91 87-4 Comfort Suites 68.3 68.2-0.1 91.87 91.21-0.7% 62.75 62.21-0.54 90 89-1 Hawthorn 68.9 69.2 0.3 81.82 83.79 2.4% 56.37 57.98 1.61 81 83 2 Home2 Suites 74.6 74.4-0.2 128.01 137.35 7.3% 95.50 102.19 6.69 138 146 8 Quality Suites 62.7 65.0 2.3 68.21 67.73-0.7% 42.77 44.02 1.26 62 63 1 SpringHill 72.2 70.7-1.5 121.39 122.55 1.0% 87.64 86.64-1.00 126 124-2 Townplace 68.9 70.3 1.4 111.53 110.88-0.6% 76.84 77.95 1.10 111 112 1 Other Mini-Suites 68.9 68.3-0.6 87.51 89.07 1.8% 60.29 60.83 0.54 87 87 0 Mini-Suites 70.6 70.1-0.5 98.39 100.47 2.1% 69.46 70.43 0.97 100 101 1 Best Western 65.6 65.0-0.6 87.33 85.91-1.6% 57.29 55.84-1.45 83 80-3 Country Inn & Suites 69.7 65.8-3.9 92.82 85.53-7.9% 64.70 56.28-8.42 93 81-12 Comfort Inn 68.0 66.9-1.1 80.48 81.26 1.0% 54.73 54.36-0.36 79 78-1 Drury Inn 70.5 69.8-0.7 112.86 115.42 2.3% 79.57 80.56 1.00 115 115 0 Fairfield Inn 71.4 70.1-1.3 107.04 107.12 0.1% 76.43 75.09-1.34 110 107-3 Hampton Inn 70.5 69.3-1.2 125.45 126.43 0.8% 88.44 87.62-0.83 128 125-3 Holiday Express 68.5 67.1-1.4 114.19 112.22-1.7% 78.22 75.30-2.92 113 108-5 La Quinta Inn 67.7 66.6-1.1 88.47 86.94-1.7% 59.89 57.90-1.99 86 83-3 Sleep Inn 67.6 66.1-1.5 80.86 82.20 1.7% 54.66 54.33-0.33 79 78-1 Wingate 68.6 68.7 0.1 83.48 79.50-4.8% 57.27 54.62-2.65 83 78-5 L.S./Midscales 68.4 67.3-1.1 101.61 101.09-0.5% 69.50 68.03-1.47 100 97-3 Budget Stes America 72.8 78.2 5.4 43.04 43.85 1.9% 31.33 34.29 2.96 45 49 4 Ext Stay America 64.3 74.5 10.2 60.15 60.32 0.3% 38.68 44.94 6.26 56 64 8 Intown 80.6 70.8-9.8 42.71 43.54 1.9% 34.42 30.83-3.60 50 44-6 Studio 6 71.9 68.9-3.0 47.65 49.06 3.0% 34.26 33.80-0.46 49 48-1 Value Place 70.0 68.3-1.7 42.58 46.13 8.3% 29.81 31.51 1.70 43 45 2 Other LP Ext St 83.3 69.6-13.7 44.95 45.90 2.1% 37.44 31.95-5.50 54 46-8 Low Price Extended Stay 72.6 72.0-0.6 47.55 49.44 4.0% 34.52 35.60 1.08 50 51 1 Baymont 65.5 61.0-4.5 62.89 62.97 0.1% 41.19 38.41-2.78 59 55-4 Best Value 64.1 59.5-4.6 41.98 42.96 2.3% 26.91 25.56-1.35 39 37-2 Days Inn 62.7 62.3-0.4 55.33 54.68-1.2% 34.69 34.07-0.63 50 49-1 Econo Lodge 61.7 61.0-0.7 46.33 47.25 2.0% 28.59 28.82 0.24 41 41 0 How. Johnson 66.3 69.6 3.3 49.76 53.25 7.0% 32.99 37.06 4.07 48 53 5 Microtel 64.7 61.1-3.6 70.16 65.92-6.0% 45.39 40.28-5.12 65 58-7 Motel 6 68.0 67.1-0.9 49.31 49.36 0.1% 33.53 33.12-0.41 48 47-1 Quality Inn 62.9 61.1-1.8 64.99 63.84-1.8% 40.88 39.01-1.87 59 56-3 Ramada Inn 66.8 63.0-3.8 62.13 65.88 6.0% 41.50 41.50 0.00 60 59-1 Red Roof Inn 66.9 66.4-0.5 57.07 57.96 1.6% 38.18 38.49 0.31 55 55 0 Rodeway 55.9 55.9 0.0 46.18 43.26-6.3% 25.81 24.18-1.63 37 35-2 Super 8 63.3 62.7-0.6 57.69 56.52-2.0% 36.52 35.44-1.08 53 51-2 Travelodge 55.2 56.7 1.5 51.72 40.36-22.0% 28.55 22.88-5.67 41 33-8 Other Budgets 57.4 56.8-0.6 48.05 44.63-7.1% 27.58 25.35-2.23 40 36-4 Budget Segment 63.7 62.5-1.2 53.82 53.18-1.2% 34.28 33.24-1.05 49 48-1 Total Chains 68.9 68.3-0.6 107.81 109.63 1.7% 74.28 74.88 0.60 107 107 0 Total Independents 58.1 57.0-1.1 86.54 88.47 2.2% 50.28 50.43 0.15 72 72 0 Total Market 66.7 66.0-0.7 103.99 105.88 1.8% 69.36 69.88 0.52 100 100 5. Roomnights sold divided by roomnights available (times 100). Roomnights sold equals room revenues divided by estimated average daily rate (ADR). 6. Room revenue, per available rom per day (equals occupancy % times ADR). 7. Market average equals 100. 17

HIGH-PRICED BRAND PERFORMANCE RESULTS Year Ending June 30, 2016 [^=Change from prior year (absolute value unless marked percentage)] Brands/ Hotels 1 Room 2 Rooms- M Revenues(000's) % Revenues 3 % Rmnts Sold 4 Segments 2016 2016 ^ 2016 %^ 2016 ^ 2016 ^ Four Seasons 3 1.2 1.2 0.0 88,276 86,606-1.9% 0.9 0.9 0.0 0.3 0.3 0.0 Gaylord 1 1.5 1.5 0.0 83,749 90,425 8.0% 0.8 0.9 0.1 0.4 0.4 0.0 JW Marriott 4 2.2 2.9 0.7 128,842 186,342 44.6% 1.3 1.9 0.6 0.5 0.7 0.2 Ritz Carlton 1 0.2 0.2 0.0 20,684 20,732 0.0% 0.2 0.2 0.0 0.1 0.1 0.0 W 2 0.5 0.5 0.0 44,746 42,472-5.1% 0.5 0.4-0.1 0.1 0.1 0.0 Za Za 2 0.5 0.5 0.0 33,598 33,609 0.0% 0.3 0.3 0.0 0.1 0.1 0.0 Luxury Segment 13 6.1 6.8 0.7 399,895 460,186 15.1% 4.0 4.6 0.6 1.6 1.8 0.2 Hilton 26 10.4 10.4 0.0 433,130 450,946 4.1% 4.4 4.5 0.1 2.7 2.7 0.1 Hyatt 14 7.1 7.3 0.2 322,958 333,659 3.3% 3.3 3.3 0.0 1.8 1.8 0.0 Inter-Continental 2 0.7 0.7 0.0 28,667 28,777 0.4% 0.3 0.3 0.0 0.2 0.2 0.0 Marriott 25 9.7 9.7 0.0 382,291 387,473 1.4% 3.9 3.9 0.0 2.5 2.4 0.0 Omni 12 5.3 5.3 0.0 243,393 249,089 2.3% 2.5 2.5 0.0 1.4 1.4 0.0 Renaissance 5 2.0 2.0 0.0 79,082 82,904 4.8% 0.8 0.8 0.0 0.5 0.5 0.0 Westin 12 4.0 4.5 0.5 182,763 211,975 16.0% 1.8 2.1 0.3 1.0 1.1 0.1 Upscale Segment 96 39.2 39.9 0.7 1,672,284 1,744,823 4.3% 16.9 17.4 0.5 10.1 10.2 0.2 Embassy 21 5.1 4.9-0.2 219,795 218,193-0.7% 2.2 2.2 0.0 1.4 1.3 0.0 Homewood 51 4.9 5.1 0.2 185,162 186,744 0.9% 1.9 1.9 0.0 1.4 1.3 0.0 Hyatt House/Summerfield 8 1.1 1.1 0.0 35,316 40,583 14.9% 0.4 0.4 0.0 0.3 0.3 0.0 Residence Inn 63 6.8 7.1 0.3 250,125 252,138 0.8% 2.5 2.5 0.0 1.9 1.9 0.0 Staybridge 35 3.4 3.6 0.2 101,898 107,339 5.3% 1.0 1.1 0.1 0.9 0.9 0.1 Other Suites 19 3.4 3.4 0.0 134,844 137,414 1.9% 1.4 1.4 0.0 0.9 0.9 0.0 Suites Segment 197 24.7 25.2 0.5 927,140 942,411 1.6% 9.4 9.4 0.0 6.7 6.7 0.0 4 Points 6 0.8 0.9 0.1 24,992 24,725-1.1% 0.3 0.2-0.1 0.2 0.2 0.0 Aloft 8 1.0 1.1 0.1 40,687 42,223 3.8% 0.4 0.4 0.0 0.3 0.3 0.0 Courtyard 87 10.8 11.3 0.5 343,771 356,918 3.8% 3.5 3.6 0.1 2.8 2.9 0.1 Crowne Plaza 11 3.2 3.2 0.0 86,808 84,113-3.1% 0.9 0.8-0.1 0.8 0.8 0.0 Doubletree 22 4.8 5.7 0.9 169,580 195,049 15.0% 1.7 1.9 0.2 1.3 1.5 0.2 Hilton Garden 53 6.9 7.3 0.4 244,987 253,786 3.6% 2.5 2.5 0.0 1.8 1.9 0.1 Holiday Inn 45 8.8 8.0-0.8 220,067 199,420-9.4% 2.2 2.0-0.2 2.2 1.9-0.3 Hyatt Place 25 3.3 3.4 0.1 116,735 123,680 5.9% 1.2 1.2 0.0 0.9 0.9 0.0 Radisson 4 1.0 1.0 0.0 33,186 34,745 4.7% 0.3 0.3 0.0 0.3 0.3 0.0 Sheraton 12 5.0 5.2 0.2 153,377 167,648 9.3% 1.5 1.7 0.2 1.2 1.3 0.1 Wyndham 12 2.9 2.6-0.3 85,656 78,808-8.0% 0.9 0.8-0.1 0.7 0.6-0.1 Other Mid/Upscales 9 1.1 1.2 0.1 36,235 39,898 10.1% 0.4 0.4 0.0 0.3 0.3 0.0 Mid/Upscales 294 49.6 50.9 1.3 1,556,081 1,601,013 2.9% 15.7 15.9 0.2 12.7 12.8 0.1 Mid-and-L P Segments Mini-Suites 310 25.2 27.6 2.4 607,528 656,276 8.0% 6.1 6.5 0.4 6.5 6.9 0.4 L.S./Midscales 1116 86.3 89.8 3.5 2,095,832 2,065,809-1.4% 21.2 20.6-0.6 21.6 21.6 0.0 Low Price Extended Stay 206 26.4 26.4 0 325,371 332,006 2.0% 3.3 3.3 0.0 7.0 7.0 0.0 Budget Segment 981 69 70.1 1.1 833,666 803,416-3.6% 8.4 8.0-0.4 15.9 15.7-0.2 Total Chains 3,213 326.5 336.7 10.2 8,417,797 8,605,940 2.2% 85.0 85.7 0.7 81.9 82.7 0.8 Independents 100+ ADR 503 25.3 26.1 0.8 904,184 906,526 0.3% 9.1 9.0-0.1 5.4 5.4 0.0 60-99.99 259 13.6 13.3-0.3 213,287 190,500-10.7% 2.2 1.9-0.3 2.9 2.7-0.2 Under 60 797 44.5 44.0-0.5 369,837 340,731-7.9% 3.7 3.4-0.3 9.8 9.3-0.5 Total Independents 1,559 83.4 83.4 0.0 1,487,308 1,437,757-3.3% 15.0 14.3-0.7 18.1 17.3-0.7 Total Market 4,772 409.9 420.1 10.2 9,905,105 10,043,697 1.4% 100.0 100.0 0.0 100.0 100.0 1. All Texas Hotels and Motels with rooms-only revenues exceeding 80,000 per year. 2. Gross Room Revenue (000's) includes non-tax revenues (approx. 11% of total). 3. % Gross Room Revenues. 4. %Roomnights Sold: derived from room revenues, roomnights and estimated ADR. 18

HIGH-PRICED BRAND PERFORMANCE RESULTS Year Ending June 30, 2016 [^=Change from prior year (absolute value unless marked percentage)] Brands/ % Occupancy 5 Est. ADR 6 Index 7 Segments 2016 ^ 2016 %^ 2016 ^ 2016 ^ Four Seasons 71.3 69.4-1.9 285.02 287.41 0.8% 203.22 199.46-3.76 307 304-3 Gaylord 68.7 70.5 1.8 220.89 232.49 5.3% 151.75 163.91 12.15 229 250 21 JW Marriott 67.2 70.8 3.6 239.76 252.36 5.3% 161.12 178.67 17.55 243 273 30 Ritz Carlton 75.8 73.6-2.2 342.84 353.87 3.2% 259.87 260.45 0.58 392 397 5 W 77.2 77.7 0.5 315.87 297.89-5.7% 243.85 231.46-12.39 368 353-15 Za Za 72.0 72.1 0.1 265.33 264.96-0.1% 191.04 191.04 0.00 288 292 4 Luxury Segment 69.9 71.2 1.3 257.19 261.96 1.9% 179.78 186.52 6.74 271 285 14 Hilton 69.1 70.3 1.2 165.43 168.67 2.0% 114.31 118.58 4.26 173 181 8 Hyatt 68.2 67.0-1.2 182.30 186.30 2.2% 124.33 124.82 0.49 188 190 2 Inter-Continental 67.8 70.5 2.7 161.23 155.68-3.4% 109.31 109.75 0.44 165 167 2 Marriott 68.9 68.0-0.9 157.24 161.44 2.7% 108.34 109.78 1.44 164 168 4 Omni 70.7 70.9 0.2 177.47 181.08 2.0% 125.47 128.39 2.91 189 196 7 Renaissance 69.8 71.5 1.7 154.31 157.87 2.3% 107.71 112.88 5.17 163 172 9 Westin 70.7 68.6-2.1 177.74 186.85 5.1% 125.66 128.18 2.52 190 196 6 Upscale Segment 69.3 69.1-0.2 168.73 173.02 2.5% 116.93 119.56 2.63 177 182 5 Embassy 72.9 73.1 0.2 161.71 165.29 2.2% 117.89 120.83 2.94 178 184 6 Homewood 74.2 71.2-3.0 138.47 140.40 1.4% 102.74 99.96-2.78 155 153-2 Hyatt House/Summerfield 71.2 73.7 2.5 123.57 133.35 7.9% 87.98 98.28 10.30 133 150 17 Residence Inn 74.6 72.4-2.2 135.96 134.59-1.0% 101.43 97.44-3.98 153 149-4 Staybridge 71.8 70.9-0.9 115.93 114.96-0.8% 83.24 81.51-1.73 126 124-2 Other Suites 70.1 68.6-1.5 155.49 159.26 2.4% 109.00 109.25 0.25 165 167 2 Suites Segment 73.0 71.6-1.4 141.16 142.27 0.8% 103.05 101.87-1.18 156 155-1 4 Points 66.7 62.7-4.0 122.59 121.34-1.0% 81.77 76.08-5.69 123 116-7 Aloft 74.3 71.7-2.6 145.02 144.98 0.0% 107.75 103.95-3.80 163 159-4 Courtyard 70.0 68.5-1.5 125.08 126.24 0.9% 87.56 86.47-1.08 132 132 0 Crowne Plaza 68.7 67.8-0.9 109.65 107.74-1.7% 75.33 73.05-2.28 114 111-3 Doubletree 71.7 69.1-2.6 134.85 136.21 1.0% 96.69 94.12-2.57 146 144-2 Hilton Garden 70.7 69.3-1.4 138.39 138.21-0.1% 97.84 95.78-2.06 148 146-2 Holiday Inn 65.8 64.4-1.4 103.55 106.17 2.5% 68.14 68.37 0.24 103 104 1 Hyatt Place 71.6 71.3-0.3 137.06 138.84 1.3% 98.13 98.99 0.86 148 151 3 Radisson 69.7 71.1 1.4 125.61 128.99 2.7% 87.55 91.71 4.16 132 140 8 Sheraton 65.5 68.2 2.7 127.21 129.64 1.9% 83.32 88.41 5.09 126 135 9 Wyndham 65.2 64.5-0.7 123.13 126.62 2.8% 80.28 81.67 1.39 121 125 4 Other Mid/Upscales 69.9 69.6-0.3 128.93 134.35 4.2% 90.12 93.51 3.39 136 143 7 Mid/Upscales 68.8 68.0-0.8 124.73 126.84 1.7% 85.81 86.25 0.44 130 132 2 Mid-and-L P Segments Mini-Suites 69.6 67.8-1.8 95.05 96.01 1.0% 66.15 65.09-1.06 100 99-1 L.S./Midscales 67.4 65.0-2.4 98.61 97.09-1.5% 66.46 63.11-3.35 100 96-4 Low Price Extended Stay 71.5 71.5 0.0 47.26 48.05 1.7% 33.79 34.36 0.56 51 52 1 Budget Segment 62.4 60.7-1.7 53.09 51.86-2.3% 33.13 31.48-1.65 50 48-2 Total Chains 67.7 66.4-1.3 104.25 105.46 1.2% 70.58 70.03-0.55 107 107 0 Independents 100+ ADR 57.6 55.5-2.1 169.75 171.53 1.0% 97.78 95.20-2.58 148 145-3 60-99.99 57.2 54.7-2.5 75.17 71.49-4.9% 43.00 39.11-3.89 65 60-5 Under 60 59.5 57.1-2.4 38.29 37.20-2.8% 22.78 21.24-1.54 34 32-2 Total Independents 58.6 56.2-2.4 83.45 84.04 0.7% 48.90 47.23-1.67 74 72-2 Total Market 65.9 64.4-1.5 100.49 101.75 1.3% 66.22 65.53-0.70 100 100 5. Roomnights sold divided by roomnights available (times 100). Roomnights sold equals room revenues divided by estimated average daily rate (ADR). 6. Room revenue, per available rom per day (equals occupancy % times ADR). 7. Market average equals 100. 19

MID/LOW-PRICED BRAND PERFORMANCE RESULTS Year Ending June 30, 2016 [^=Change from prior year (absolute value unless marked percentage)] Brands/ Hotels 1 Room 2 Rooms- M Revenues(000's) % Revenues 3 % Rmnts Sold 4 Segments 2016 2016 ^ 2016 %^ 2016 ^ 2016 ^ High-Priced Segments Luxury Segment 13 6.1 6.8 0.7 399,895 460,186 15.1% 4.0 4.6 0.6 1.6 1.8 0.2 Upscale Segment 96 39.2 39.9 0.7 1,672,284 1,744,823 4.3% 16.9 17.4 0.5 10.1 10.2 0.2 Suites Segment 197 24.7 25.2 0.5 927,140 942,411 1.6% 9.4 9.4 0.0 6.7 6.7 0.0 Mid/Upscales 294 49.6 50.9 1.3 1,556,081 1,601,013 2.9% 15.7 15.9 0.2 12.7 12.8 0.1 Candlewood 68 6.0 6.3 0.3 133,045 132,179-0.7% 1.3 1.3 0.0 1.6 1.6 0.0 Comfort Suites 112 7.9 7.8-0.1 170,224 160,791-5.5% 1.7 1.6-0.1 2.0 1.9-0.1 Hawthorn 20 1.8 1.9 0.1 33,753 36,498 8.1% 0.3 0.4 0.1 0.4 0.5 0.0 Home2 Suites 12 0.7 1.3 0.6 22,794 43,217 89.6% 0.2 0.4 0.2 0.2 0.3 0.2 Quality Suites 4 0.2 0.2 0.0 3,346 3,740 11.8% 0.0 0.0 0.0 0.0 0.1 0.0 SpringHill 44 4.2 5.0 0.8 129,629 151,670 17.0% 1.3 1.5 0.2 1.1 1.3 0.2 Townplace 37 3.3 3.9 0.6 93,305 103,992 11.5% 0.9 1.0 0.1 0.9 1.0 0.1 Other Mini-Suites 13 1.1 1.2 0.1 21,432 24,189 12.9% 0.2 0.2 0.0 0.3 0.3 0.0 Mini-Suites 310 25.2 27.6 2.4 607,528 656,276 8.0% 6.1 6.5 0.4 6.5 6.9 0.4 Best Western 235 13.8 14.3 0.5 286,842 268,035-6.6% 2.9 2.7-0.2 3.3 3.3 0.0 Country Inn & Suites 22 1.5 1.6 0.1 33,631 33,863 0.7% 0.3 0.3 0.0 0.4 0.4 0.0 Comfort Inn 73 5.0 5.1 0.1 92,383 91,915-0.5% 0.9 0.9 0.0 1.2 1.2 0.0 Drury Inn 17 2.8 2.8 0.0 77,388 78,223 1.1% 0.8 0.8 0.0 0.7 0.7 0.0 Fairfield Inn 70 5.5 6.0 0.5 142,552 151,430 6.2% 1.4 1.5 0.1 1.4 1.5 0.1 Hampton Inn 179 14.5 15.5 1.0 445,422 458,978 3.0% 4.5 4.6 0.1 3.7 3.9 0.1 Holiday Express 233 18.1 18.9 0.8 499,924 484,431-3.1% 5.0 4.8-0.2 4.6 4.5 0.0 La Quinta 235 21.2 21.8 0.6 445,733 429,023-3.7% 4.5 4.3-0.2 5.3 5.2-0.1 Sleep Inn 35 2.4 2.3-0.1 43,355 40,490-6.6% 0.4 0.4 0.0 0.6 0.5 0.0 Wingate 17 1.5 1.5 0.0 28,602 29,421 2.9% 0.3 0.3 0.0 0.4 0.4 0.0 L.S./Midscales 1116 86.3 89.8 3.5 2,095,832 2,065,809-1.4% 21.2 20.6-0.6 21.6 21.6 0.0 Budget Stes America 11 4.0 4.0 0.0 44,904 49,898 11.1% 0.5 0.5 0.0 1.1 1.2 0.1 Ext Stay America 58 5.4 6.5 1.1 79,473 100,699 26.7% 0.8 1.0 0.2 1.4 1.7 0.4 Intown 38 3.9 5.0 1.1 42,433 53,287 25.6% 0.4 0.5 0.1 1.0 1.3 0.2 Studio 6 35 3.7 3.8 0.1 44,404 47,244 6.4% 0.4 0.5 0.1 1.0 1.0 0.0 Value Place 38 4.5 4.5 0.0 51,156 50,458-1.4% 0.5 0.5 0.0 1.2 1.2 0.0 Other LP Ext St 26 4.9 2.6-2.3 63,001 30,420-51.7% 0.6 0.3-0.3 1.3 0.7-0.7 Low Price Extended Stay 206 26.4 26.4 0.0 325,371 332,006 2.0% 3.3 3.3 0.0 7.0 7.0 0.0 Baymont 40 3.1 3.2 0.1 44,242 41,401-6.4% 0.4 0.4 0.0 0.7 0.7 0.0 Best Value 107 6.3 6.4 0.1 60,178 56,818-5.6% 0.6 0.6 0.0 1.4 1.4 0.0 Days Inn 141 9.5 9.0-0.5 114,264 104,459-8.6% 1.2 1.0-0.2 2.1 2.0-0.1 Econo Lodge 47 2.8 2.8 0.0 28,574 27,428-4.0% 0.3 0.3 0.0 0.6 0.6 0.0 How. Johnson 18 1.3 1.2-0.1 14,582 14,144-3.0% 0.1 0.1 0.0 0.3 0.3 0.0 Microtel 30 2.0 2.0 0.0 36,325 28,320-22.0% 0.4 0.3-0.1 0.5 0.4 0.0 Motel 6 159 13.1 14.0 0.9 154,794 162,901 5.2% 1.6 1.6 0.0 3.3 3.4 0.1 Quality Inn 85 6.3 6.4 0.1 88,781 84,172-5.2% 0.9 0.8-0.1 1.4 1.4 0.0 Ramada Inn 21 2.4 2.3-0.1 30,951 30,602-1.1% 0.3 0.3 0.0 0.5 0.5 0.0 Red Roof Inn 32 3.3 3.8 0.5 43,308 50,571 16.8% 0.4 0.5 0.1 0.8 0.9 0.1 Rodeway 23 1.5 1.4-0.1 14,452 11,887-17.7% 0.1 0.1 0.0 0.3 0.3 0.0 Super 8 162 9.7 9.9 0.2 123,593 119,634-3.2% 1.2 1.2 0.0 2.2 2.2 0.0 Travelodge 22 1.9 1.6-0.3 19,102 15,237-20.2% 0.2 0.2 0.0 0.4 0.3-0.1 Other Budgets 94 5.8 6.1 0.3 60,520 55,842-7.7% 0.6 0.6 0.0 1.3 1.3 0.0 Budget Segment 981 69.0 70.1 1.1 833,666 803,416-3.6% 8.4 8.0-0.4 15.9 15.7-0.2 Total Chains 3,213 326.5 336.7 10.2 8,417,797 8,605,940 2.2% 85.0 85.7 0.7 81.9 82.7 0.8 Total Independents 1,559 83.4 83.4 0.0 1,487,308 1,437,757-3.3% 15.0 14.3-0.7 18.1 17.3-0.7 Total Market 4,772 409.9 420.1 10.2 9,905,105 10,043,697 1.4% 100.0 100.0 0.0 100.0 100.0 1. All Texas Hotels and Motels with rooms-only revenues exceeding 80,000 per year. 2. Gross Room Revenue (000's) includes non-tax revenues (approx. 11% of total). 3. % Gross Room Revenues. 4. %Roomnights Sold: derived from room revenues, roomnights and estimated ADR. 20

MID/LOW-PRICED BRAND PERFORMANCE RESULTS Year Ending June30, 2016 [^=Change from prior year (absolute value unless marked percentage)] Brands/ % Occupancy 5 Est. ADR 6 Index 7 Segments 2016 ^ 2016 %^ 2016 ^ 2016 ^ High-Priced Segments Luxury Segment 69.9 71.2 1.3 257.19 261.96 1.9% 179.78 186.52 6.74 271 285 14 Upscale Segment 69.3 69.1-0.2 168.73 173.02 2.5% 116.93 119.56 2.63 177 182 5 Suites Segment 73.0 71.6-1.4 141.16 142.27 0.8% 103.05 101.87-1.18 156 155-1 Mid/Upscales 68.8 68.0-0.8 124.73 126.84 1.7% 85.81 86.25 0.44 130 132 2 Candlewood 71.9 69.6-2.3 84.25 82.34-2.3% 60.58 57.31-3.27 91 87-4 Comfort Suites 67.1 65.0-2.1 88.23 87.25-1.1% 59.20 56.71-2.49 89 87-2 Hawthorn 67.2 66.3-0.9 78.30 78.98 0.9% 52.62 52.36-0.25 79 80 1 Home2 Suites 72.7 71.9-0.8 125.26 129.72 3.6% 91.06 93.27 2.20 138 142 4 Quality Suites 67.7 62.2-5.5 70.56 67.01-5.0% 47.77 41.68-6.09 72 64-8 SpringHill 72.4 69.8-2.6 116.52 118.85 2.0% 84.36 82.96-1.40 127 127 0 Townplace 70.1 68.4-1.7 108.89 106.55-2.1% 76.33 72.88-3.45 115 111-4 Other Mini-Suites 65.3 66.4 1.1 84.70 85.05 0.4% 55.31 56.47 1.16 84 86 2 Mini-Suites 69.6 67.8-1.8 95.05 96.01 1.0% 66.15 65.09-1.06 100 99-1 Best Western 64.6 62.3-2.3 88.01 82.60-6.1% 56.85 51.46-5.39 86 79-7 Country Inn & Suites 67.5 65.7-1.8 88.26 87.56-0.8% 59.58 57.53-2.05 90 88-2 Comfort Inn 64.8 63.5-1.3 77.62 78.11 0.6% 50.30 49.60-0.70 76 76 0 Drury Inn 70.2 67.8-2.4 106.04 111.58 5.2% 74.44 75.65 1.21 112 115 3 Fairfield Inn 69.5 67.2-2.3 101.65 102.69 1.0% 70.65 69.01-1.64 107 105-2 Hampton Inn 69.7 67.5-2.2 120.72 120.23-0.4% 84.14 81.16-2.99 127 124-3 Holiday Express 68.1 65.1-3.0 110.98 108.12-2.6% 75.58 70.39-5.19 114 107-7 La Quinta 66.9 64.2-2.7 86.10 84.06-2.4% 57.60 53.97-3.63 87 82-5 Sleep Inn 65.0 63.8-1.2 77.59 76.93-0.9% 50.43 49.08-1.35 76 75-1 Wingate 66.7 65.1-1.6 78.88 80.62 2.2% 52.61 52.48-0.13 79 80 1 L.S./Midscales 67.4 65.0-2.4 98.61 97.09-1.5% 66.46 63.11-3.35 100 96-4 Budget Stes America 73.2 79.2 6.0 42.07 43.17 2.6% 30.80 34.19 3.40 47 52 5 Ext Stay America 69.2 72.1 2.9 58.57 58.48-0.2% 40.53 42.16 1.63 61 64 3 Intown 71.5 69.3-2.2 42.12 42.53 1.0% 30.12 29.47-0.64 45 45 0 Studio 6 69.7 69.7 0.0 46.74 48.63 4.0% 32.58 33.90 1.32 49 52 3 Value Place 71.3 68.8-2.5 43.47 44.45 2.3% 30.99 30.58-0.41 47 47 0 Other LP Ext St 74.0 69.7-4.3 47.52 45.24-4.8% 35.16 31.53-3.63 53 48-5 Low Price Extended Stay 71.5 71.5 0.0 47.26 48.05 1.7% 33.79 34.36 0.56 51 52 1 Baymont 63.9 59.4-4.5 62.14 59.67-4.0% 39.71 35.44-4.26 60 54-6 Best Value 61.9 58.9-3.0 42.33 41.07-3.0% 26.20 24.19-2.01 40 37-3 Days Inn 60.6 60.0-0.6 54.67 53.17-2.7% 33.13 31.90-1.23 50 49-1 Econo Lodge 59.0 58.2-0.8 46.65 45.56-2.3% 27.52 26.52-1.01 42 40-2 How. Johnson 61.4 64.5 3.1 49.96 48.68-2.6% 30.68 31.40 0.72 46 48 2 Microtel 66.5 59.8-6.7 75.82 65.03-14.2% 50.42 38.89-11.53 76 59-17 Motel 6 67.2 65.4-1.8 48.22 48.73 1.1% 32.40 31.87-0.53 49 49 0 Quality Inn 61.0 58.6-2.4 63.69 61.13-4.0% 38.85 35.82-3.03 59 55-4 Ramada Inn 60.2 61.8 1.6 57.93 60.32 4.1% 34.87 37.28 2.40 53 57 4 Red Roof Inn 65.8 65.1-0.7 53.99 56.24 4.2% 35.53 36.61 1.09 54 56 2 Rodeway 56.3 54.7-1.6 46.24 43.53-5.9% 26.03 23.81-2.22 39 36-3 Super 8 61.9 60.3-1.6 56.42 55.14-2.3% 34.92 33.25-1.67 53 51-2 Travelodge 55.5 55.2-0.3 48.99 48.52-1.0% 27.19 26.78-0.41 41 41 0 Other Budgets 59.7 56.0-3.7 47.90 45.05-5.9% 28.60 25.23-3.37 43 39-4 Budget Segment 62.4 60.7-1.7 53.09 51.86-2.3% 33.13 31.48-1.65 50 48-2 Total Chains 67.7 66.4-1.3 104.25 105.46 1.2% 70.58 70.03-0.55 107 107 0 Total Independents 58.6 56.2-2.4 83.45 84.04 0.7% 48.90 47.23-1.67 74 72-2 Total Market 65.9 64.4-1.5 100.49 101.75 1.3% 66.22 65.53-0.70 100 100 5. Roomnights sold divided by roomnights available (times 100). Roomnights sold equals room revenues divided by estimated average daily rate (ADR). 6. Room revenue, per available rom per day (equals occupancy % times ADR). 7. Market average equals 100. **Value Place is located in Other LP Ext St in 2012 21

THE TOP 100 HOTELS OF RANKED BY 22 2014 Hotel Name City Zip Code Rooms Room Revs 2014 1 4 FOUR SEASONS HOTEL C38 AUSTIN 78701 291 30,396,503 275.09 286.18 2 1 W HOTEL AUSTIN 78701 251 25,806,697 291.61 281.69 3 5 THE SAN JOSE HOTEL AUSTIN 78704 40 4,106,881 263.93 281.29 4 10 TRAVAASA EXPERIENTIAL AUSTIN 78726 70 6,965,012 220.68 272.60 5 7 HYATT MARKET STREET THE WOODLA 77380 70 6,854,894 247.75 268.29 6 2 THE DRISKILL HOTEL AUSTIN 78701 189 18,498,875 277.34 268.16 7 6 RITZ-CARLTON MCKINNEY AVE DALLAS 75201 218 20,149,564 259.35 253.23 8 3 HOTEL GRANDUCA HOUSTON 77056 122 11,110,955 276.76 249.52 9 9 ROUGH CREEK LODGE IREDELL 76649 55 4,556,319 233.01 226.96 10 13 ZA ZA (+MAG7+MAIN ST) DALLAS 75201 167 13,541,161 206.82 222.15 11 15 MANSION OF TURTLE CREEK DALLAS 75219 143 11,359,428 200.06 217.63 12 8 ST REGIS FMR RITZ HOUSTON 77027 232 18,293,025 233.31 216.03 13 12 INTER-CONTINENTAL STEPHEN AUSTIN 78701 190 14,535,104 208.39 209.59 14 18 THE JOULE A LUXURY COLLECTION DALLAS 75201 160 11,921,397 182.71 204.13 15 25 GRAND HYATT DFW GRAPEVINE 75037 298 21,706,280 178.10 199.56 16 16 OMNI HOTEL AT FIC AUSTIN 78701 392 28,409,382 193.27 198.56 17 36 HOTEL ELLA AUSTIN 78705 48 3,449,391 167.63 196.88 18 19 W DALLAS-VICTORY HOTEL DALLAS 75219 252 18,074,417 181.64 196.50 19 14 MOKARA HOTEL SAN ANTONI 78205 99 6,891,354 204.67 190.71 20 0 JW MARRIOTT HOTEL AUSTIN 78701 1012 64,316,934 0.00 188.45 21 24 ROSEWOOD CRESCENT COURT DALLAS 75201 220 15,110,819 178.13 188.18 22 32 FOUR SEASONS HOTEL HOUSTON 77010 468 31,656,388 170.38 185.32 23 20 MARRIOTT WATERWAY HOTEL THE WOODLA 77380 343 23,094,234 180.84 184.47 24 35 HILTON CONVENTION CENTER AUSTIN 78701 800 53,801,189 169.36 184.25 25 21 HYATT REGENCY RESORT & SPA LOST PINES 78612 491 32,966,663 179.88 183.95 26 23 LAKE AUSTIN SPA (EST) AUSTIN 78732 40 2,683,570 179.17 183.81 27 45 HAMPTON INN & SUITES AUSTIN 78701 137 9,070,619 160.75 181.39 28 29 DOUBLETREE GUEST SUITES AUSTIN 78701 188 12,219,167 172.90 178.07 29 0 HOTEL VAN ZANDT TO 319 AUSTIN 78701 42 684,721 0.00 177.21 30 33 HYATT PLACE DOWNTOWN AUSTIN 78701 296 19,018,707 170.20 176.03 31 28 FOUR SEASONS RESORT & CLUB IRVING 75038 431 27,657,406 174.74 175.81 32 27 HOTEL ZA ZA HOUSTON 77005 315 20,048,195 176.39 174.37 33 43 JW MARRIOTT HILL COUNTRY SAN ANTONI 78261 1002 63,397,690 161.59 173.35 34 34 THE SAN LUIS HOTEL GALVESTON 77551 243 15,330,538 169.70 172.85 35 30 COURTYARD BY MARRIOTT DNT AUSTIN 78701 270 16,895,850 172.78 171.44 36 42 HILTON HOTEL SOUTHLAKE SOUTHLAKE 76092 248 15,413,016 161.98 170.27 37 54 KIMPTON HOTEL LUMEN DALLAS 75205 93 5,764,982 153.29 169.83 38 45 WESTIN HOTEL AT THE BALL PARK HOUSTON 77002 200 12,102,763 160.75 165.79 39 40 RESIDENCE INN DOWNTOWN AUSTIN 78701 179 10,817,179 162.31 165.56 40 22 HOUSTONIAN HOTEL HOUSTON 77024 289 17,347,688 179.46 164.46

THE TOP 100 HOTELS OF RANKED BY 2014 Hotel Name City Zip Code Rooms Room Revs 2014 41 49 ASHTON HOTEL FORT WORTH 76102 39 2,325,036 156.86 163.33 42 378 JW MARRIOTT DOWNTOWN HOUSTON 77002 328 19,544,290 99.70 163.25 43 57 LE MERIDIEN FMR LUXE STO DALLAS 75201 170 10,115,459 151.91 163.02 44 89 GAYLORD TEXAS RESORT & CLUB GRAPEVINE 76051 1511 89,205,594 140.26 161.75 45 55 THE LANCASTER HOTEL HOUSTON 77002 93 5,482,395 153.12 161.51 46 26 BEST WESTERN SWISS CHALET PECOS 79772 105 6,182,129 177.14 161.31 47 51 AT&T EXEC CONFERENCE CTR AUSTIN 78705 297 17,377,826 156.05 160.30 48 60 HILTON GARDEN AUSTIN 78701 254 14,805,760 150.46 159.70 49 38 EMBASSY SUITES FORT WORTH 76102 156 9,069,080 163.99 159.27 50 58 EMBASSY SUITES OF AUSTIN AUSTIN 78704 261 15,167,221 151.05 159.21 51 39 HOTEL ICON HOUSTON 77002 135 7,816,541 163.58 158.63 52 37 HYATT REGENCY AUSTIN AUSTIN 78704 448 25,872,842 165.59 158.22 53 0 SOUTH CONGRESS HOTEL AUSTIN 78704 83 1,206,628 0.00 158.02 54 50 HILTON GARDEN INN THE WOODLA 77380 117 6,696,158 156.16 156.80 55 56 WESTIN HOTEL AT DOMAIN AUSTIN 78758 341 19,392,544 152.49 155.81 56 63 EMBASSY SUITES RIVERWALK SAN ANTONI 78205 285 16,066,670 149.14 154.45 57 119 SHERATON FMR MARRIOTT AUSTIN 78701 365 20,207,627 132.16 151.68 58 0 WESTIN DOWNTOWN AUSTIN 78701 366 9,364,909 0.00 151.48 59 78 HYATT REGENCY HILL COUNT SAN ANTONI 78251 500 27,525,484 145.49 150.82 60 166 THE GAGE HOTEL MARATHON 79842 39 2,139,204 122.81 150.28 61 65 RESIDENCE INN SIX PINES THE WOODLA 77380 96 5,249,922 148.50 149.83 62 91 HIGHLAND CURIO DALLAS 75206 198 10,741,953 139.91 148.64 63 80 OMNI FORT WORTH HOTEL FORT WORTH 76102 614 33,203,092 143.34 148.16 64 116 EMBASSY SUITE OUTDOOR WORLD GRAPEVINE 76051 329 17,657,757 133.16 147.04 65 165 HYATT PLACE HOTEL SHENANDOAH 77380 146 7,835,024 122.82 147.03 66 107 OMNI DALLAS HOTEL DALLAS 75202 1001 53,207,859 134.22 145.63 67 64 BOARDWALK INN KEMAH 77565 52 2,752,574 148.95 145.02 68 146 HOTEL CONTESSA SAN ANTONI 78205 265 13,991,935 126.54 144.66 69 41 HOTEL SORELLA HOUSTON 77024 266 13,977,521 162.10 143.96 70 82 HAMPTON INN & SUITES DNT AUSTIN 78701 209 10,961,383 142.33 143.69 71 62 LA QUINTA INN & SUITES PECOS 79772 68 3,556,679 149.43 143.30 72 77 OMNI LA MANSION DEL RIO SAN ANTONI 78205 338 17,619,722 145.76 142.82 73 105 THE WESTIN RIVERWALK SAN ANTONI 78205 473 24,480,208 134.79 141.80 74 152 MARRIOTT LEGACY PLANO 75024 404 20,684,145 126.09 140.27 75 112 HILTON AMERICAS CONVENTION HOUSTON 77002 1200 60,998,753 133.71 139.27 76 81 EMBASSY SUITES GALLERIA HOUSTON 77056 150 7,621,479 142.80 139.21 77 235 RESIDENCE INN-AUSTIN NORTH AUSTIN 78753 88 4,469,334 112.64 139.14 78 73 THE WESTIN MEMORIAL HOUSTON 77024 289 14,669,193 146.59 139.06 79 103 DOUBLETREE HOTEL AUSTIN 78702 149 7,534,902 134.96 138.55 80 102 WESTIN HOTEL GALLERIA DALLAS 75240 448 22,651,921 135.34 138.53 23

THE TOP 100 HOTELS OF RANKED BY 2014 Hotel Name City Zip Code Rooms Room Revs 2014 81 133 STOCKYARDS HOTEL FORT WORTH 76106 52 2,628,547 128.79 138.49 82 93 EMBASSY SUITES HOUSTON DNT HOUSTON 77010 262 13,219,294 139.47 138.23 83 115 THE WYNDHAM HOTEL GALVEZ GALVESTON 77550 224 11,273,076 133.21 137.88 84 139 HILTON GARDEN INN GRAPEVINE 76051 110 5,503,021 127.76 137.06 85 124 ALOFT DOMAINS AUSTIN 78758 140 6,979,640 131.20 136.59 86 211 WARWICK MELROSE HOTEL DALLAS 75219 184 9,135,584 116.19 136.03 87 120 HAMPTON INN & SUITES HOUSTON 77054 120 5,932,980 131.93 135.46 88 53 HOLIDAY EXPRESS HOTEL PECOS 79772 71 3,508,307 153.47 135.38 89 365 RESIDENCE INN NW AUSTIN 78759 84 4,148,290 100.30 135.30 90 61 THE WESTIN GALLERIA HOUSTON 77056 487 24,048,494 149.63 135.29 91 236 HOMEWOOD SUITES -DOWNTOWN DALLAS 75202 130 6,415,884 112.45 135.21 92 182 WOODLANDS EXEC CENTER THE WOODLA 77380 412 20,317,121 120.93 135.11 93 88 EMBASSY SUITES LUBBOCK 79424 156 7,678,486 140.40 134.85 94 106 HILTON PALACIO DEL RIO SAN ANTONI 78205 483 23,769,449 134.59 134.83 95 100 MARRIOTT MED CTR HOUSTON 77030 386 19,369,953 136.11 134.69 96 68 HOMEWOOD SUITES SAGE RD HOUSTON 77056 162 7,943,499 147.31 134.34 97 71 WESTIN OAKS HOUSTON HOUSTON 77056 406 19,827,707 146.86 133.80 98 118 RESIDENCE INN WOODLANDS THE WOODLA 77380 90 4,369,477 132.90 133.01 99 142 HILTON PARK CITIES DALLAS 75225 224 10,870,988 126.86 132.96 100 125 COURTYARD WOODLANDS THE WOODLA 77380 90 4,367,388 131.18 132.95 24

THE TOP 500 HOTELS OF FIRST QUARTER 2016 RANKED BY 2016 Hotel Name City Brand Zip Code Room Previous Current 1 7 TRAVAASA EXPERIENTIAL RESORT AUSTIN 78726 74 280.35 328.28 2 8 RITZ-CARLTON MCKINNEY AVE DALLAS RITZ 75201 218 279.37 292.05 3 3 W HOTEL AUSTIN W 78701 251 286.97 288.83 4 6 FOUR SEASONS HOTEL AUSTIN AUSTIN FOURS 78701 291 281.36 281.44 5 4 THE DRISKILL HOTEL AUSTIN 78701 189 284.40 270.79 6 1 THE SAN JOSE HOTEL AUSTIN 78704 40 294.94 267.66 7 2 HOTEL GRANDUCA HOUSTON GRAND 77056 122 291.43 263.41 8 22 THE JOULE A LUXURY COLLECTION DALLAS 75201 160 201.91 239.51 9 29 JW MARRIOTT HOTEL AUSTIN JWMAR 78701 1012 192.43 232.11 10 0 SOUTH CONGRESS HOTEL AUSTIN 78704 83 0.00 230.01 11 9 ST REGIS FMR RITZ HOUSTON 77027 232 241.56 228.20 12 0 WESTIN DOWNTOWN AUSTIN WESTN 78701 366 0.00 225.91 13 10 ZA ZA DALLAS ZA ZA 75201 167 234.17 223.87 14 5 HYATT MARKET ST HOTEL THE WOODLA HYATT 77380 70 281.67 222.53 15 17 GRAND HYATT DFW GRAPEVINE HYATT 75037 298 208.00 218.73 16 14 MANSION OF TURTLE CREEK DALLAS 75219 143 219.87 217.58 17 11 LAKE AUSTIN SPA AUSTIN 78732 40 226.14 216.43 18 15 FOUR SEASONS RESORT & CLUB IRVING FOURS 75038 431 215.19 215.21 19 21 MOKARA HOTEL FMR WATERMARK SAN ANTONI 78205 99 202.12 211.99 20 19 OMNI HOTEL AT FIC AUSTIN OMNI 78701 392 204.96 208.10 21 31 HILTON CONVENTION CENTER AUSTIN HILTO 78701 800 189.21 206.77 22 0 HOTEL VAN ZANDT AUSTIN 78701 319 0.00 203.55 23 34 LE MERIDIEN DALLAS 75201 170 184.96 202.23 24 48 JW MARRIOTT DOWNTOWN HOUSTON JWMAR 77002 328 165.74 200.38 25 18 HYATT REGENCY RESORT & SPA LOST PINES HYATT 78612 491 205.60 199.34 26 12 INTER-CONTINENTAL STEPHEN AUSTIN INT-C 78701 190 220.86 198.75 27 20 THE SAN LUIS HOTEL GALVESTON 77551 243 204.82 196.12 28 54 DOUBLETREE GUEST SUITES AUSTIN DBLST 78701 188 162.85 194.34 29 35 ROSEWOOD CRESCENT COURT DALLAS 75201 220 184.76 193.23 30 30 HAMPTON INN & SUITES AUSTIN HAMPT 78701 137 191.48 191.93 31 24 JW MARRIOTT HILL COUNTRY SAN ANTONI JWMAR 78261 1002 197.32 191.60 32 16 ROUGH CREEK LODGE(EST@75%G IREDELL 76649 55 214.83 191.33 33 23 W DALLAS-VICTORY DALLAS W 75219 252 200.55 188.73 33 28 HYATT PLACE DOWNTOWN AUSTIN HYATP 78701 296 193.67 188.73 34 43 HILTON HOTEL SOUTHLAKE SOUTHLAKE HILTO 76092 248 170.45 188.35 35 67 HYATT REGENCY AUSTIN AUSTIN HYATT 78704 448 153.34 185.68 36 37 COURTYARD BY MARRIOTT DNT AUSTIN COURT 78701 270 177.79 184.58 37 32 HOTEL ZA ZA HOUSTON ZA ZA 77005 315 187.02 183.35 38 55 THE LANCASTER HOTEL HOUSTON 77002 93 162.68 182.96 25

THE TOP 500 HOTELS OF 2ND QUARTER 2016 RANKED BY 26 2016 Hotel Name City Brand Zip Code Room Previous Current 39 45 RESIDENCE INN DOWNTOWN AUSTIN RESID 78701 179 168.87 182.17 40 40 KIMPTON HOTEL DALLAS 75205 93 176.18 181.96 41 13 HOTEL ELLA AUSTIN 78705 48 220.07 179.88 42 25 FOUR SEASONS HOTEL HOUSTON FOURS 77010 468 196.54 179.68 43 38 WESTIN HOTEL AT THE BALL HOUSTON WESTN 77002 200 177.04 179.40 44 41 AT&T EXEC CONFERENCE CTR AUSTIN 78705 297 173.26 174.89 45 44 EMBASSY SUITES FORT WORTH EMBAS 76102 156 170.42 172.76 46 75 GAYLORD TEXAS RESORT & CLUB GRAPEVINE GAYLO 76051 1511 148.84 170.33 47 74 HAMPTON INN & SUITES DNT AUSTIN HAMPT 78701 209 149.24 169.74 48 71 OMNI FORT WORTH HOTEL FORT WORTH OMNI 76102 614 149.68 169.41 49 58 HYATT REGENCY HILL COUNTRY SAN ANTONI HYATT 78251 500 160.55 168.34 50 33 HOUSTONIAN HOTEL HOUSTON 77024 289 185.24 167.84 51 26 MARRIOTT WATERWAY HOTEL THE WOODLA MARRT 77380 343 195.93 167.78 52 73 OMNI DALLAS HOTEL DALLAS OMNI 75202 1001 149.30 166.14 53 53 WESTIN HOTEL AT DOMAIN AUSTIN WESTN 78758 341 163.05 165.47 54 66 EMBASSY SUITES RIVERWALK SAN ANTONI EMBAS 78205 285 154.08 165.42 55 62 HIGHLAND CURIO DALLAS HILTO 75206 198 156.29 164.47 56 78 FRIO COUNTRY RESORT 35 CABINS CONCAN 78838 77 147.28 161.21 57 90 HOTEL CONTESSA SAN ANTONI X.STE 78205 265 141.75 159.07 58 50 HOTEL ICON HOUSTON 77002 135 164.78 156.86 59 68 THE WYNDHAM HOTEL GALVEZ GALVESTON WYNDH 77550 224 152.85 156.48 60 57 THE GALVESTONIAN GALVESTON 77550 67 161.43 156.27 61 49 HILTON GARDEN AUSTIN HILTG 78701 254 165.11 155.61 62 0 WESTIN THE WOODLANDS THE WOODLA WESTN 77380 225 0.00 155.48 63 80 DOUBLETREE HOTEL FMR CLUB AUSTIN DOUBL 78702 149 146.87 154.91 64 52 EMBASSY SUITES OF AUSTIN AUSTIN EMBAS 78704 261 163.40 154.28 65 60 BOARDWALK INN KEMAH 77565 52 157.06 153.93 66 0 HOTEL EMMA @ THE PEARL SAN ANTONI 78215 146 0.00 153.67 67 102 WESTIN HOTEL GALLERIA DALLAS WESTN 75240 448 138.71 150.28 68 103 STOCKYARDS HOTEL FORT WORTH 76106 52 138.59 150.03 69 587 LA CANTERA RESORT SAN ANTONI 78256 508 91.93 149.18 70 116 HILTON PARK CITIES DALLAS HILTO 75225 224 135.83 148.16 71 89 EMBASSY SUITES AUSTIN AUSTIN EMBAS 78759 150 141.84 147.88 72 82 MARRIOTT MED CTR HOUSTON MARRT 77030 386 146.41 147.56 73 77 MARRIOTT LEGACY PLANO MARRT 75024 404 147.38 147.55 74 47 RESIDENCE INN SIX PINES THE WOODLA RESID 77380 96 165.78 147.40 75 131 RADISSON HOTEL & SUITES AUSTIN RADIS 78701 413 132.10 146.34 76 87 WARWICK MELROSE HOTEL DALLAS 75219 184 142.28 145.80 77 126 HILTON PALACIO DEL RIO SAN ANTONI HILTO 78205 483 132.85 145.41

THE TOP 500 HOTELS OF 2ND QUARTER 2016 RANKED BY 2016 Hotel Name City Brand Zip Code Room Previous Current 78 98 HILTON AMERICAS CONVENTION HOUSTON HILTO 77002 1200 140.20 145.32 79 42 SHERATON FMR MARRIOTT AUSTIN SHERA 78701 365 172.53 145.18 80 85 HILTON GARDEN INN GRAPEVINE HILTG 76051 110 142.64 144.95 81 107 MARRIOTT AUSTIN SOUTH AUSTIN MARRT 78744 211 137.94 144.37 82 171 NYLO HOTEL SOUTH SIDE DALLAS NYLO 75215 76 124.88 143.98 83 104 OMNI LA MANSION DEL RIO SAN ANTONI OMNI 78205 338 138.23 143.82 84 124 MARRIOTT CITY CTR DALLAS MARRT 75201 410 133.76 143.49 85 125 THE WESTIN RIVERWALK SAN ANTONI WESTN 78205 473 133.23 143.32 86 92 HOMEWOOD SUITES NW AUSTIN HOMEW 78759 97 140.84 142.50 87 85 ALOFT DOMAINS AUSTIN ALOFT 78758 140 142.64 142.08 88 72 HOTEL SORELLA HOUSTON 77024 266 149.56 141.97 89 156 HOLIDAY INN ON THE BEACH GALVESTON HOLID 77551 178 127.56 141.63 90 115 GALVESTON ISLAND HILTON GALVESTON HILTO 77551 239 136.09 141.45 91 136 RENAISSANCE WORTHINGTON FORT WORTH RENAS 76102 504 131.49 141.44 92 91 EMBASSY SUITE OUTDOOR WORLD GRAPEVINE EMBAS 76051 329 141.39 140.93 93 243 HOTEL INDIGO BAYLOR WACO INDIG 76706 111 114.14 140.64 94 120 HYATT PLACE STOCKYARDS FORT WORTH HYATP 76106 101 134.83 140.55 95 152 MARRIOTT HORSESHOE BAY RESOR HORSESHOE MARRT 78657 347 128.82 139.86 96 83 HILTON GARDEN INN SOUTH PADR HILTG 78597 156 145.04 139.33 97 128 LONE STAR COURT AUSTIN 78758 123 132.80 139.17 98 614 YOGI BEAR`S JELLYSTONE CANYON LAK 78133 49 90.59 139.12 99 130 RESIDENCE INN AUSTIN SOUTH AUSTIN RESID 78744 66 132.12 138.60 100 63 THE WESTIN MEMORIAL HOUSTON WESTN 77024 289 155.49 138.03 101 155 MARRIOTT RIVERWALK SAN ANTONI MARRT 78205 512 127.63 137.76 102 355 HILTON HOUSTON PLAZA HOUSTON HILTO 77030 184 104.97 137.30 103 27 RESIDENCE INN-AUSTIN NORTH AUSTIN RESID 78753 88 195.64 137.21 104 149 EILAN HOTEL RESORT & SPA SAN ANTONI 78256 165 129.15 137.12 105 88 EMBASSY SUITES HOUSTON HOUSTON EMBAS 77010 262 141.87 136.95 106 100 RESIDENCE INN ARLINGTON RESID 76015 96 139.84 136.88 107 133 THE TREMONT HOUSE WYNDHAM GALVESTON WYNDH 77550 119 131.99 136.85 108 167 HAMPTON INN & SUITES FREDERICKS HAMPT 78624 55 125.91 136.66 109 129 GRAND HYATT CONVENTION CTR SAN ANTONI HYATT 78205 1003 132.28 136.15 110 39 HILTON GARDEN INN THE WOODLA HILTG 77380 117 176.27 135.66 111 95 WOODLANDS EXEC CENTER THE WOODLA 77380 412 140.62 135.43 112 46 RESIDENCE INN NW AUSTIN RESID 78759 84 166.50 135.24 113 81 EMBASSY SUITES LUBBOCK EMBAS 79424 156 146.50 135.04 114 143 HOMEWOOD SUITES ROUND ROCK HOMEW 78664 115 130.21 134.88 115 219 MARRIOTT RIVERCENTER SAN ANTONI MARRT 78205 1001 116.82 134.25 116 0 EMBASSY SUITES HUGHES LANE THE WOODLA EMBAS 77380 205 0.00 134.13 27

THE TOP 500 HOTELS OF 2ND QUARTER 2016 RANKED BY 28 2016 Hotel Name City Brand Zip Code Room Previous Current 117 214 RESIDENCE INN FORT WORTH RESID 76107 149 117.51 133.98 118 0 HILTON GARDEN INN DALLAS DALLAS HILTG 75201 171 0.00 133.33 119 113 THE FAIRMONT DALLAS DALLAS 75201 545 137.09 133.19 120 144 HILTON CONVENTION CENTER FORT WORTH HILTO 76102 294 130.00 132.98 121 86 HOMEWOOD SUITES -DOWNTOWN DALLAS HOMEW 75202 130 142.41 132.94 122 0 DRURY INN - AUSTIN NORTH AUSTIN DRURY 78752 156 0.00 132.92 123 168 HOMEWOOD SUITES GRAPEVINE HOMEW 76051 105 125.84 132.63 124 61 JW MARRIOTT 785 HOUSTON JWMAR 77056 515 156.51 132.57 125 178 DOUBLTREE HOTEL GALVESTON DOUBL 77550 97 123.64 132.35 126 148 HOMEWOOD SUITES SAN ANTO SAN ANTONI HOMEW 78205 146 129.34 131.85 126 158 HILTON AUSTIN AIRPORT AUSTIN HILTO 78741 262 127.19 131.85 127 172 EMBASSY SUITES FRISCO EMBAS 75034 330 124.82 131.82 128 162 RENAISSANCE AUSTIN HOTEL AUSTIN RENAS 78759 492 126.50 131.79 129 0 THE WESTIN DOWNTOWN DALLAS WESTN 75202 326 0.00 131.66 130 598 CASA DEL MAR GALVESTON 77551 75 91.34 131.21 131 121 RESIDENCE INN BY MARRIOT AUSTIN RESID 78723 112 134.68 130.72 132 173 EMBASSY SUITES I35 NORTH AUSTIN EMBAS 78723 260 124.63 130.66 133 76 EMBASSY SUITES GALLERIA HOUSTON EMBAS 77056 150 147.68 130.51 134 84 THE WESTIN GALLERIA HOUSTON WESTN 77056 487 142.76 129.74 135 132 HOTEL VALENCIA RIVERWALK SAN ANTONI 78205 213 132.08 129.60 136 223 HILTON GARDEN INN ARLING ARLINGTON HILTG 76006 132 116.43 128.86 137 202 HILTON GARDEN INN FORT WORTH HILTG 76104 157 119.29 128.75 138 245 HYATT REGENCY DNTN DALLAS HYATT 75207 1120 113.89 128.67 139 216 OMNI MANDALAY HOTEL IRVING OMNI 75039 421 117.09 128.55 140 246 HOMEWOOD SUITES-PLANO PLANO HOMEW 75074 108 113.36 128.41 141 160 HAMPTON INN AUSTIN HAMPT 78735 106 126.74 128.10 141 177 HAMPTON INN & SUITES GRAPEVINE HAMPT 76051 94 123.93 128.10 142 112 HOLIDAY INN AIRPORT AUSTIN HOLID 78741 138 137.19 127.56 143 123 HOMEWOOD SUITES WILLOWBR HOUSTON HOMEW 77070 72 134.12 127.31 144 109 HAMPTON INN & SUITES HOUSTON HAMPT 77054 120 137.42 127.25 145 194 HOMEWOOD SUITES - FT WOR FORT WORTH HOMEW 76104 112 120.31 127.23 146 142 HOMEWOOD SUITES - FRISCO FRISCO HOMEW 75034 117 130.33 126.95 146 193 BEST WESTERN OCEAN VILLA PORT ARANS BWEST 78373 48 120.35 126.95 147 380 HAMPTON INN & SUITES 50 AUSTIN HAMPT 78744 102 103.40 126.67 148 249 HILTON BELLA HARBOR ROCKWALL HILTO 75032 231 113.17 126.63 149 174 WESTIN STONEBRIAR RESORT FRISCO WESTN 75034 301 124.46 126.56 150 0 COOPER AEROBICS ENTERPRI DALLAS 75230 62 0.00 126.48 151 97 EMBASSY SUITES ENERGY PL HOUSTON EMBAS 77079 216 140.48 126.36 152 234 EMBASSY SUITES FMR DOUBL IRVING EMBAS 75062 305 115.36 126.28

THE TOP 500 HOTELS OF 2ND QUARTER 2016 RANKED BY 2016 Hotel Name City Brand Zip Code Room Previous Current 153 279 SPRINGHILL SUITES FMR AM DALLAS SPRNG 75202 148 110.54 126.18 154 192 COURTYARD DOWNTOWN LUBBOCK COURT 79415 94 120.47 125.70 155 127 COURTYARD MED CENTER HOUSTON COURT 77030 194 132.82 125.66 155 140 DOUBLETREE GUEST SUITES HOUSTON DBLST 77056 380 130.61 125.66 156 250 HOMEWOOD SUITES BY HILTO WACO HOMEW 76712 88 112.77 125.59 157 70 RESIDENCE INN WOODLANDS THE WOODLA RESID 77380 90 150.98 125.37 158 161 WYNDHAM MED CTR FMR HOLI HOUSTON WYNDH 77030 281 126.51 125.33 159 138 COURTYARD BY MARRIOTT AUSTIN COURT 78759 102 130.88 125.20 160 114 MARRIOTT TOWN SQUARE SUG SUGAR LAND MARRT 77479 300 136.24 125.05 161 65 STAYBRIDGE AUSTIN NW AUSTIN STAYB 78759 121 154.44 124.98 161 182 EMBASSY SUITES HOTEL 95 CORPUS CHR EMBAS 78411 150 123.09 124.98 162 51 NEALS LODGES CAFE AND GR CONCAN 78838 87 164.08 124.60 163 0 HOMEWOOD SUITES AUSTIN HOMEW 78753 114 0.00 124.51 164 387 RENAISSANCE DALLAS HOTEL DALLAS RENAS 75207 514 103.14 124.28 165 0 HYATT REGENCY GALLERIA HOUSTON HYATT 77056 325 0.00 124.18 166 79 WESTIN OAKS HOUSTON HOUSTON WESTN 77056 406 147.13 124.06 167 146 HAMPTON INN & SUITES LAKEWAY HAMPT 78734 70 129.55 124.04 168 190 THE HARBOR HOUSE GALVESTON 77550 42 120.54 123.75 169 578 MARRIOTT BUSH AIRPORT HOUSTON MARRT 77032 565 92.39 123.49 170 610 HYATT HOUSE SUITES FMR S AUSTIN HYATH 78759 130 90.76 123.43 171 212 MOODY GARDENS HOTEL GALVESTON 77554 418 117.61 123.38 172 187 COURTYARD BY MARRIOTT AUSTIN COURT 78741 150 121.53 123.28 173 266 ALOFT DALLAS DOWNTOWN DALLAS ALOFT 75202 193 111.59 123.22 174 255 RESIDENCE INN GRAPEVINE RESID 76051 133 112.45 123.10 175 196 EMBASSY SUITES SAN MARCO SAN MARCOS EMBAS 78666 283 120.20 123.05 176 359 HOLIDAY EXPRESS & SUITES AUSTIN HIEXP 78745 86 104.64 122.55 177 198 OMNI SOUTHPARK AUSTIN OMNI 78744 312 119.81 122.53 178 209 HAMPTON INN AUSTIN NORTH AUSTIN HAMPT 78759 124 118.56 122.39 179 157 OMNI BAYFRONT FMR MARRIO CORPUS CHR OMNI 78401 475 127.30 122.28 180 514 EMBASSY SUITES HOTEL MAR DALLAS EMBAS 75207 244 95.85 122.18 181 278 COURTYARD BY MARRIOTT GRAPEVINE COURT 76051 180 110.66 122.15 182 374 RESIDENCE INN RICHARDSON RESID 75082 120 103.83 121.83 183 176 COURTYARD- AUSTIN SOUTH AUSTIN COURT 78744 110 124.40 121.82 184 325 MARRIOTT SUITES MARKET C DALLAS X.STE 75207 265 106.92 121.70 185 270 COURTYARD BY MARRIOTT FORT WORTH COURT 76107 130 111.51 121.18 186 218 HOMEWOOD SUITES DFW IRVING HOMEW 75063 77 116.90 121.02 187 122 YOGI BEAR JELLYSTONE PAR WALLER 77484 55 134.31 120.95 188 244 THE MAGNOLIA HOTEL HOUSTON X.STE 77002 314 113.91 120.86 189 269 HILTON DFW HOTEL & EXEC GRAPEVINE HILTO 76051 393 111.55 120.67 190 184 HAMPTON INN FMR AMARILLO AMARILLO HAMPT 79106 64 122.57 120.55 29

THE TOP 500 HOTELS OF 2ND QUARTER 2016 RANKED BY 30 2016 Hotel Name City Brand Zip Code Room Previous Current 191 151 DRURY INN & SUITES RIVER SAN ANTONI DRURY 78205 150 128.85 120.50 192 234 MARRIOTT LAS COLINAS IRVING MARRT 75039 360 115.36 120.20 193 101 HOTEL DEREK FMR REDL/SHE HOUSTON 77027 314 139.01 120.19 194 135 DOUBLETREE HOTEL ALLEN C HOUSTON DOUBL 77002 350 131.50 120.10 195 201 COURTYARD BY MARRIOTT GALVESTON COURT 77554 80 119.44 120.04 196 276 HOLIDAY EXPRESS AMARILLO HIEXP 79109 90 110.69 119.99 197 153 HYATT PLACE FMR AMERISUI SAN ANTONI HYATP 78205 131 128.60 119.89 198 206 HYATT PLACE ARBORETUM FM AUSTIN HYATP 78759 127 118.96 119.86 199 292 SPRINGHILL SUITES GRAPEVINE SPRNG 76051 111 109.23 119.66 200 697 OMNI RIVERWAY HOUSTON OMNI 77056 378 86.73 119.51 201 508 HILTON HOTEL GRANITE PKW PLANO HILTO 75024 299 96.13 119.39 202 357 COURTYARD BY MARRIOTT ARLINGTON COURT 76015 103 104.91 119.27 203 93 HOMEWOOD SUITES SAGE RD HOUSTON HOMEW 77056 162 140.81 119.03 204 257 COURTYARD DOWNTOWN HOUSTON COURT 77002 191 112.22 119.01 205 324 COURTYARD BY MARRIOTT RE IRVING COURT 75063 153 106.97 118.93 206 679 HOME2 SUITES BY HILTON AUSTIN HOME2 78758 135 87.20 118.71 207 199 HAMPTON INN BUILT ON HOUSTON HAMPT 77007 90 119.79 118.68 208 427 DOUBLETREE FMR WYNDHAM M DALLAS DOUBL 75207 227 100.61 118.02 209 189 HILTON GARDEN INN-AUSTIN AUSTIN HILTG 78753 117 120.76 117.98 210 318 HOLIDAY EXPRESS FMR AMER AUSTIN HIEXP 78741 80 107.20 117.92 211 69 RESIDENCE INN HOUSTON RESID 77002 171 152.07 117.76 212 204 MARRIOTT WEST LOOP HOUSTON MARRT 77027 301 119.12 117.75 213 186 HOLIDAY EXPRESS FORT WORTH HIEXP 76102 132 122.14 117.47 214 290 HOLIDAY EXPRESS HOTEL AUSTIN HIEXP 78759 110 109.38 117.34 215 117 ESCAPES! TO THE GULF OF GALVESTON 77554 78 135.74 117.15 215 217 HAMPTON INN & SUITES CLUTE HAMPT 77531 67 116.91 117.15 216 321 HOLIDAY EXPRESS HOTEL GRAPEVINE HIEXP 76051 95 107.04 117.08 217 211 HYATT PLACE I35 N FMR AM AUSTIN HYATP 78752 120 118.15 116.96 218 232 HYATT HOUSE FMR SUMMERFI DALLAS HYATH 75225 155 115.45 116.89 219 180 HOMEWOOD SUITES ARLINGTON HOMEW 76011 89 123.15 116.72 220 285 HOLIDAY EXPRESS PORT ARANS HIEXP 78373 74 109.76 116.70 221 96 HILTON POST OAK FMR DBLT HOUSTON HILTO 77056 448 140.58 116.65 222 231 HOLIDAY EXPRESS AMARILLO HIEXP 79118 69 115.60 116.62 223 0 ALDEN HOTEL FMR SAM HOUS HOUSTON 77002 97 0.00 116.51 224 229 HILTON GARDEN INN DFW IRVING HILTG 75061 151 115.88 116.41 225 111 RESIDENCE INN - SANTA RO SAN ANTONI RESID 78204 95 137.32 116.39 226 286 DRURY PLAZA RIVERWALK / SAN ANTONI DRURY 78205 366 109.69 116.34 227 385 HILTON COLLEGE STATION COLLEGE ST HILTO 77840 303 103.22 116.30 228 200 RESIDENCE INN WEST UNIVE HOUSTON RESID 77005 120 119.56 115.98

THE TOP 500 HOTELS OF 2ND QUARTER 2016 RANKED BY 2016 Hotel Name City Brand Zip Code Room Previous Current 229 205 HOMEWOOD SUITES WICHITA FA HOMEW 76308 73 119.02 115.96 230 277 COURTYARD BY MARRIOTT AMARILLO COURT 79101 107 110.68 115.92 231 242 LA QUINTA INN & SUITES SOUTH PADR LAQUN 78597 147 114.29 115.79 232 609 HOMEWOOD SUITES MKT CTR DALLAS HOMEW 75207 137 90.79 115.77 233 267 HILTON GARDEN INN OF AMA AMARILLO HILTG 79124 90 111.57 115.44 234 327 FAIRFIELD INN & SUITES AMARILLO FAIRF 79118 79 106.80 115.22 235 64 HYATT PLACE HOTEL SHENANDOAH HYATP 77380 146 155.37 114.95 236 203 PEARL HOTEL FMR SHERATON SOUTH PADR 78597 251 119.24 114.94 237 163 HYATT REGENCY RIVERWALK SAN ANTONI HYATT 78205 632 126.32 114.88 238 384 HILTON GARDEN INN - RICH RICHARDSON HILTG 75080 125 103.24 114.70 239 241 SPRINGHILL SUITES BY MAR AUSTIN SPRNG 78744 152 114.53 114.64 240 185 DOUBLETREE BY HILTON FMR HOUSTON DOUBL 77046 388 122.36 114.39 241 312 HOLIDAY EXPRESS & SUITES AMARILLO HIEXP 79124 128 107.79 114.29 242 383 HILTON HOTEL ARLINGTON ARLINGTON HILTO 76006 308 103.28 114.25 243 195 RESIDENCE INN WACO RESID 76706 78 120.28 114.14 244 0 HYATT HOUSE SUITES FMR S IRVING HYATH 75039 148 0.00 114.11 244 485 EMBASSY SUITE LOVE FIELD DALLAS EMBAS 75220 248 97.35 114.11 245 0 SONESTA HOTEL BEE CAVE BEE CAVE 78738 195 0.00 113.96 246 59 COURTYARD WOODLANDS THE WOODLA COURT 77380 90 158.12 113.93 247 360 COURTYARD BLACKSTONE FORT WORTH COURT 76102 203 104.60 113.88 248 378 MARRIOTT LA FRONTERA ROUND ROCK MARRT 78681 295 103.48 113.78 249 523 HOLIDAY EXPRESS EAST FWY HOUSTON HIEXP 77029 74 95.28 113.34 250 166 RESIDENCE INN - SUGARLAN STAFFORD RESID 77477 78 126.03 113.30 251 0 HOTEL INDIGO TO 134 AUSTIN INDIG 78701 80 0.00 113.22 252 188 HILTON GARDEN INN AUSTIN HILTG 78759 138 120.91 113.20 253 594 HAMPTON INN & SUITES DALLAS HAMPT 75247 90 91.42 113.19 254 210 HOMEWOOD SUITES SOUTH AUSTIN HOMEW 78744 96 118.39 113.16 255 301 MARRIOTT SOLANA 29 WESTLAKE MARRT 76262 294 108.69 113.13 256 0 HOME2 SUITES DFW N IRVING HOME2 75063 93 0.00 112.96 257 233 HAMPTON INN & SUITES LUBBOCK HAMPT 79424 80 115.43 112.95 258 296 SOUTHERN INN & SUITES KE KERMIT 79745 40 108.87 112.68 259 311 RESIDENCE INN - ROUND RO ROUND ROCK RESID 78664 96 107.92 112.59 260 425 RESIDENCE INN BY MARRIOT SAN ANTONI RESID 78257 131 100.87 112.54 261 256 RESIDENCE INN BY MARRIOT COLLEGE ST RESID 77840 84 112.40 112.53 262 354 HAMPTON INN MARBLE FALLS MARBLE FAL HAMPT 78654 64 104.98 112.38 263 207 THE AUSTIN MOTEL AUSTIN 78704 41 118.66 112.34 264 421 HOME 2 SUITES AUSTIN HOME2 78717 84 101.37 112.11 265 483 RENAISSANCE RICHARDSON RICHARDSON RENAS 75082 336 97.45 111.93 266 289 LA COPA INN RESORT SOUTH PADR 78597 146 109.47 111.92 31

THE TOP 500 HOTELS OF 2ND QUARTER 2016 RANKED BY 32 2016 Hotel Name City Brand Zip Code Room Previous Current 267 480 HOME2 SUITES ROUND ROCK HOME2 78681 91 97.52 111.90 267 486 MARRIOTT DFW SOUTH FORT WORTH MARRT 76155 295 97.34 111.90 268 0 HAMPTON INN AND SUITES PLANO HAMPT 75074 114 0.00 111.79 269 297 COURTYARD BY MARRIOTT SAN ANTONI COURT 78257 124 108.84 111.75 270 434 EXTENDED STAY AMERICA TO AUSTIN EXTSA 78701 101 100.06 111.74 271 147 HOMEWOOD SUITES LUBBOCK HOMEW 79424 74 129.43 111.70 271 175 HILTON GARDEN GALLERIA HOUSTON HILTG 77056 182 124.43 111.70 272 271 HYATT REGENCY DFW 00 GRAPEVINE HYATT 76051 811 111.42 111.69 273 491 RESIDENCE INN BY MARRIOT TEXARKANA RESID 75503 70 97.09 111.56 273 512 OMNI PARKWEST FMR DBLTRE FARMERS BR OMNI 75234 337 95.88 111.56 274 635 HYATT HOUSE SUITES FMR S ADDISON HYATH 75001 132 89.31 111.50 275 288 THE MAGNOLIA HOTEL DALLAS 75201 329 109.55 111.49 275 329 HILTON GARDEN INN FRISCO FRISCO HILTG 75034 102 106.57 111.49 276 145 ALOFT HOUSTON GALLERIA HOUSTON ALOFT 77056 152 129.87 111.21 277 469 HILTON ANATOLE HOTEL FMR DALLAS HILTO 75207 1606 98.16 111.04 278 291 RESIDENCE INN PLANO RESID 75024 126 109.30 111.03 279 224 MARRIOTT HOTEL DFW AIRPO IRVING MARRT 75063 491 116.38 110.79 280 137 HOMEWOOD SUITES STAFFORD HOMEW 77477 78 130.93 110.78 281 287 HOLIDAY EXPRESS SUNSET V AUSTIN HIEXP 78735 99 109.65 110.77 282 0 DOUBLETREE HOTEL NW PLAZ AUSTIN DOUBL 78759 194 0.00 110.76 283 0 DOUBLETREE @ CAMPBELL CE DALLAS DOUBL 75206 300 0.00 110.69 283 382 EMBASSY SUITES DALLAS EMBAS 75240 150 103.29 110.69 284 559 HILTON GARDEN INN ALLIAN FORT WORTH HILTG 76177 127 93.17 110.63 285 268 HAMPTON INN & SUITES AUSTIN HAMPT 78750 71 111.56 110.53 286 368 HILTON RESORT FMR RADIS SAN ANTONI HILTO 78251 227 104.15 110.48 287 0 HOMEWOOD SUITES SPRING HOMEW 77373 123 0.00 110.42 288 191 HOLIDAY EXPRESS DOWNTOWN HOUSTON HIEXP 77003 112 120.52 110.38 289 154 SHERATON SUITES HOUSTON HOUSTON X.STE 77027 281 128.08 110.26 290 252 COURTYARD RIVERWALK SAN ANTONI COURT 78205 217 112.72 110.11 290 282 HAMPTON INN ROUND ROCK ROUND ROCK HAMPT 78664 93 110.26 110.11 291 261 RESIDENCE INN DFW AIRPOR IRVING RESID 75062 118 111.87 109.97 292 350 RESIDENCE INN ADDISON RESID 75254 150 105.22 109.95 293 291 HOMEWOOD SUITES BY HILTO SAN ANTONI HOMEW 78232 106 109.30 109.85 294 451 SHERATON GRAND HOTEL IRVING SHERA 75063 303 99.22 109.70 295 170 HILTON WESTCHASE & TOWER HOUSTON HILTO 77042 297 125.62 109.58 296 457 SLEEP INN & SUITES DRIPPING S SLEEP 78620 57 98.92 109.52 297 99 GREAT WOLF:50% PKG REVS GRAPEVINE 76051 605 140.14 109.45 298 474 RESIDENCE INN ALAMO SAN ANTONI RESID 78205 220 97.85 109.43 299 197 HAMPTON INN & SUITES BUS HOUSTON HAMPT 77032 98 119.98 109.34

THE TOP 500 HOTELS OF 2ND QUARTER 2016 RANKED BY 2016 Hotel Name City Brand Zip Code Room Previous Current 300 295 COURTYARD LEGACY PARK PLANO COURT 75024 153 108.89 109.31 301 0 HYATT PLACE DFW AIRPORT EULESS HYATP 75261 137 0.00 109.23 302 489 TOWNEPLACE SUITES GRAPEVINE TOWNP 76051 121 97.21 109.17 303 254 RESIDENCE INN ARLINGTON RESID 76006 114 112.67 108.97 304 0 CONRAD N HILTON UNIV HOUSTON HILTO 77204 86 0.00 108.96 305 373 ALOFT PLANO PLANO ALOFT 75024 136 103.95 108.94 306 392 SPRINGHILL SUITES MARRIO AUSTIN SPRNG 78759 99 102.73 108.86 307 349 HOLIDAY EXPRESS & SUITES CLUTE HIEXP 77531 82 105.29 108.78 308 454 HAMPTON INN & SUITES FOS FORT WORTH HAMPT 76137 77 99.03 108.77 309 481 COURTYARD LAS COLINAS IRVING COURT 75038 147 97.48 108.76 310 0 LE MERIDIEN FMR PRAVA/HI DALLAS X.STE 75240 258 0.00 108.64 311 332 COURTYARD BY MARRIOTT NEW BRAUNF COURT 78130 125 106.32 108.51 312 665 HAMPTON INN ROCKWALL ROCKWALL HAMPT 75087 62 88.04 108.37 313 641 HOLIDAY EXPRESS & SUITES DALLAS HIEXP 75247 85 89.13 108.36 314 253 SPRINGHILL SUITES BY MAR HOUSTON SPRNG 77032 156 112.68 108.35 315 221 HAMPTON INN AUSTIN SOUTH AUSTIN HAMPT 78744 123 116.54 108.34 316 334 WYNDHAM GARDEN WOODWARD AUSTIN WYNDH 78741 210 106.23 108.16 317 108 RESIDENCE INN GALLERIA HOUSTON RESID 77056 146 137.84 108.13 318 0 HOMEWOOD GREENVILLE DALLAS HOMEW 75243 78 0.00 108.02 319 251 RESIDENCE INN MED CTR AS HOUSTON RESID 77030 143 112.73 107.93 320 237 COURTYARD WEST UNIVERSIT HOUSTON COURT 77005 100 115.07 107.22 321 505 RESIDENCE INN FMR HAWTH FORT WORTH RESID 76178 111 96.48 107.19 322 213 STAYBRIDGE SUITES NORTH PLANO STAYB 75075 112 117.55 107.18 322 384 FAIRFIELD INN SOUTH AUSTIN FAIRF 78744 63 103.24 107.18 323 319 HOLIDAY EXPRESS & SUITES FREDERICKS HIEXP 78624 76 107.08 107.16 324 281 BASIN STATION - BIG BEND BIG BEND N 79834 86 110.29 107.12 325 455 HOME2 SUITES COLLEGE STA COLLEGE ST HOME2 77840 108 98.98 106.97 326 431 HOLIDAY INN RIVERWALK SAN ANTONI HOLID 78205 313 100.35 106.96 327 397 LAKEWAY INN RESORT & CON LAKEWAY 78734 239 102.42 106.68 328 476 HOMEWOOD SUITES SEAWORLD SAN ANTONI HOMEW 78245 109 97.76 106.56 329 506 MARRIOTT GOLF RESORT FMR FORT WORTH MARRT 76177 284 96.43 106.45 330 563 SHERATON SUITES MARKET C DALLAS X.STE 75207 251 93.05 106.44 331 626 COURTYARD NORTHPARK DALLAS COURT 75231 158 89.96 106.42 332 394 ALOFT LAS COLINAS IRVING ALOFT 75062 136 102.68 106.39 333 602 STAYBRIDGE LAS COLINAS IRVING STAYB 75038 117 91.19 106.30 334 0 HOME2 SUITES AMARILLO HOME2 79124 92 0.00 106.29 335 497 HOME2 SUITES FRISCO HOME2 75034 122 96.84 106.11 336 441 HAMPTON INN & SUITES WACO HAMPT 76711 123 99.91 106.09 337 386 EMBASSY SUITES LAREDO EMBAS 78041 154 103.16 106.04 33

THE TOP 500 HOTELS OF 2ND QUARTER 2016 RANKED BY 34 2016 Hotel Name City Brand Zip Code Room Previous Current 338 0 HOMEWOOD SUITES KINGWOOD HOMEW 77339 75 0.00 105.98 339 608 HYATT PLACE FMR AMERISUI ARLINGTON HYATP 76011 127 90.82 105.74 340 313 COURTYARD BY MARRIOTT SAN ANTONI COURT 78259 103 107.70 105.72 340 640 HILTON LINCOLN CTR FMR D DALLAS HILTO 75240 500 89.18 105.72 341 306 LA QUINTA INNS & SUITES MARBLE FAL LAQUN 78654 73 108.20 105.67 342 496 HAMPTON INN & SUITES PORT ARANS HAMPT 78373 78 96.95 105.62 343 561 FAIRFIELD INN S UNIVERSI FORT WORTH FAIRF 76107 79 93.11 105.60 344 0 HOLIDAY EXPRESS-BASS PRO GARLAND HIEXP 75043 98 0.00 105.29 344 408 RESIDENCE INN AT CASCADE THE COLONY RESID 75056 102 102.02 105.29 345 412 FAIRFIELD INN & SUITES AUSTIN FAIRF 78759 134 101.87 105.28 346 150 RESIDENCE INN SPID CORPUS CHR RESID 78411 66 129.12 105.23 347 356 OMNI COLONNADE I-10W SAN ANTONI OMNI 78230 326 104.96 105.16 348 450 HILTON GARDEN INN BRYAN HILTG 77802 119 99.24 105.10 349 484 STAYBRIDGE SUITES GATEWA EL PASO STAYB 79915 109 97.37 105.02 350 379 HOMEWOOD SUITES LAS COLI IRVING HOMEW 75039 136 103.46 104.98 350 457 HAMPTON INN KERRVILLE HAMPT 78028 60 98.92 104.98 351 550 ELEMENT HOTEL IRVING ELEMT 75063 123 93.81 104.92 352 0 HILTON GARDEN INN SAN ANTONI HILTG 78257 137 0.00 104.90 353 265 HOLIDAY INN GULF BEACH R CORPUS CHR HOLID 78418 149 111.63 104.72 354 447 DOUBLETREE HOTEL AUSTIN AUSTIN DOUBL 78752 350 99.34 104.57 355 226 HILTON GARDEN INN HOTEL HOUSTON HILTG 77070 171 116.35 104.56 356 165 STAYBRIDGE SUITES CORPUS CHR STAYB 78411 84 126.06 104.51 357 316 HILTON NASSAU BAY NASSAU BAY HILTO 77058 243 107.37 104.50 358 577 SPRINGHILL SUITES BY MAR BAYTOWN SPRNG 77521 101 92.41 104.48 359 322 HOMEWOOD SUITES PLANO PLANO HOMEW 75093 99 107.00 104.36 360 695 COURTYARD MARKET CENTER DALLAS COURT 75207 184 86.80 104.32 361 262 LA QUINTA INN CAPITAL AUSTIN LAQUN 78701 150 111.86 104.24 362 645 HYATT PLACE FMR AMERISUI ADDISON HYATP 75240 125 88.93 104.19 363 487 NYLO LOFT HOTEL IRVING NYLO 75039 200 97.28 104.18 364 601 HOLIDAY EXPRESS DE SOTO HIEXP 75115 88 91.20 104.15 365 181 DOUBLETREE FMR HYATT/DBL HOUSTON DOUBL 77032 313 123.12 104.06 366 0 HOLIDAY INN ASTRODOME HOUSTON HOLID 77054 238 0.00 103.91 367 258 HOLIDAY EXPRESS PORTLAND HIEXP 78374 62 112.02 103.89 368 522 HILTON GARDEN INN FORT WORTH HILTG 76137 98 95.30 103.88 369 293 HYATT HOUSE SUITES FMR S DALLAS HYATH 75201 141 109.12 103.87 370 689 RESIDENCE INN 1604 EAST SAN ANTONI RESID 78232 88 86.95 103.69 371 222 RESIDENCE INN CLEARLAKE NASSAU BAY RESID 77058 110 116.50 103.67 372 273 HOMEWOOD SUITES BEAUMONT HOMEW 77705 79 111.05 103.65 373 183 HOMEWOOD WOODLANDS SHENA SHENANDOAH HOMEW 77381 91 122.92 103.61

THE TOP 500 HOTELS OF 2ND QUARTER 2016 RANKED BY 2016 Hotel Name City Brand Zip Code Room Previous Current 374 390 SHERATON CROWN HOTEL/MAX HOUSTON SHERA 77032 420 102.76 103.49 375 528 HOMEWOOD SUITES SAN ANTO SAN ANTONI HOMEW 78230 123 94.95 103.45 376 417 HAMPTON INN & SUITES I20 ARLINGTON HAMPT 76018 98 101.55 103.27 376 618 HAMPTON INN FORT WORTH HAMPT 76116 105 90.30 103.27 377 304 OMNI BARTON CREEK (EST 5 AUSTIN OMNI 78735 318 108.56 103.22 378 477 RESIDENCE INN LAS COLINA IRVING RESID 75038 120 97.71 103.20 379 0 SPRINGHILL SUITES DNT HOUSTON SPRNG 77002 166 0.00 103.01 380 230 HILTON GARDEN INN TYLER HILTG 75703 125 115.78 102.96 381 538 STAYBRIDGE SUITES WEBSTER STAYB 77598 112 94.51 102.86 382 415 THE WESTIN DFW FMR HARVE IRVING WESTN 75063 506 101.68 102.64 382 674 HOLIDAY EXPRESS FMR COMF DALLAS HIEXP 75220 103 87.34 102.64 383 94 HOMEWOOD SUITES CORPUS CHR HOMEW 78417 86 140.70 102.54 383 511 HAMPTON INN VAN HORN HAMPT 79855 59 95.89 102.54 384 592 DOUBLETREE LOVE FIELD FM DALLAS DOUBL 75235 244 91.49 102.52 385 537 INN ON BARONS CREEK FREDERICKS 78624 90 94.56 102.48 386 625 HILTON GARDEN INN FMR WI DALLAS HILTG 75207 240 90.01 102.41 387 411 ROYAL SONESTA FMR INTERC HOUSTON 77027 485 101.92 102.30 388 560 HILTON GARDEN LAS COLINA IRVING HILTG 75063 173 93.16 102.29 389 0 HILTON GARDEN INN ADDISON HILTG 75001 96 0.00 102.25 389 481 HAMPTON INN & SUITES DE SOTO HAMPT 75115 81 97.48 102.25 390 395 HOMEWOOD SUITES BY HILTO HOUSTON HOMEW 77065 123 102.67 102.24 391 453 HAMPTON INN & SUITES FORT WORTH HAMPT 76177 102 99.07 102.22 392 0 HAMPTON INN & SUITES GEORGETOWN HAMPT 78626 78 0.00 102.20 393 573 HYATT PLACE FMR AMERISUI PLANO HYATP 75093 127 92.80 102.17 394 208 HAMPTON INN FORT STOCK HAMPT 79735 59 118.64 102.08 394 439 RESIDENCE INN AMARILLO RESID 79106 78 99.94 102.08 395 283 HOLIDAY EXPRESS & SUITES LAKEWAY HIEXP 78734 78 110.05 102.07 396 280 BEST WESTERN PLUS LAKE J LAKE JACKS BWEST 77566 64 110.52 101.96 397 450 BEST WESTERN PLAZA MED C HOUSTON BWEST 77030 123 99.24 101.87 398 0 STAYBRIDGE SUITES IRVING STAYB 75063 100 0.00 101.82 399 542 HILTON GARDEN INN LEWISVILLE HILTG 75067 165 94.28 101.80 400 296 DOUBLETREE EMILY MORGAN SAN ANTONI DOUBL 78205 177 108.87 101.75 401 402 STAYBRIDGE SUITES COLLEGE ST STAYB 77840 88 102.22 101.70 402 535 HAMPTON INN & SUITES ARLINGTON HAMPT 76006 103 94.64 101.58 403 0 DOUBLETREE HOTEL FMR CLU FARMERS BR DOUBL 75234 160 0.00 101.57 404 303 HILTON GARDEN INN CORPUS CHR HILTG 78412 119 108.59 101.53 405 300 COURTYARD BY MARRIOTT KINGWOOD COURT 77339 102 108.76 101.45 406 105 RESIDENCE INN KATY RESID 77494 126 138.20 101.42 407 0 HAMPTON INN LUBBOCK HAMPT 79423 81 0.00 101.40 35

THE TOP 500 HOTELS OF 2ND QUARTER 2016 RANKED BY 36 2016 Hotel Name City Brand Zip Code Room Previous Current 408 428 HOME 2 SUITES SAN ANTONI HOME2 78205 128 100.56 101.32 409 185 COURTYARD BY MARRIOTT HOUSTON COURT 77056 190 122.36 101.30 410 0 HOTEL GRANDUCA AUSTIN X.STE 78746 194 0.00 101.25 411 235 HOMEWOOD SUITES CLEARLAN NASSAU BAY HOMEW 77058 92 115.34 101.22 412 430 COURTYARD BY MARRIOTT ALLEN COURT 75013 228 100.45 101.20 413 0 HOME2 SUITES BY HILTON LUBBOCK HOME2 79407 100 0.00 101.19 414 580 STAYBRIDGE SUITES AIRPOR AUSTIN STAYB 78741 161 92.35 101.12 415 466 ISLAND HOUSE COUNCIL CORPUS CHR 78418 65 98.39 100.99 416 467 MARRIOTT EL PASO EL PASO MARRT 79925 293 98.29 100.83 417 681 HILTON GARDEN INN DUNCANVILL HILTG 75116 142 87.17 100.79 418 365 HYATT PLACE FMR AMERISUI COLLEGE ST HYATP 77840 91 104.26 100.77 419 623 HYATT PLACE FMR ASPEN/AM IRVING HYATP 75038 122 90.04 100.70 420 526 HILTON GARDEN INN BEAUMONT HILTG 77705 100 95.11 100.69 421 491 HAMPTON INN I-35 NORTH AUSTIN HAMPT 78752 121 97.09 100.54 422 0 RV RANCH (37 COTTAGES, 2 BURLESON 76028 65 0.00 100.53 423 473 HOLIDAY EXPRESS FM 620 AUSTIN HIEXP 78750 65 97.89 100.48 424 0 HYATT REGENCY FMR RICHAR RICHARDSON HYATT 75081 342 0.00 100.43 425 342 COURTYARD AUSTIN NORTH P AUSTIN COURT 78753 145 105.65 100.40 426 308 HYATT REGENCY HOUSTON HOUSTON HYATT 77002 947 108.12 100.35 427 547 HAMPTON INN & SUITES LAK LEWISVILLE HAMPT 75067 105 93.98 100.30 428 323 OVERTON HOTEL & CONF CEN LUBBOCK 79401 303 106.99 100.28 429 0 RESIDENCE NORTHPARK DALLAS RESID 75231 103 0.00 100.23 430 448 SPRINGHILL FMR BEST WEST WOODWAY SPRNG 76712 82 99.33 100.21 431 0 COURTYARD BY MARRIOTT RICHARDSON COURT 75082 123 0.00 100.14 431 139 HAMPTON INN PECOS HAMPT 79772 64 130.67 100.14 432 236 HOMEWOOD SUITES HOUSTON HOMEW 77032 64 115.29 100.04 433 493 HOMEWOOD SUITES ADDISON HOMEW 75244 120 97.04 99.92 434 432 HOLIDAY INN FMR RADIS/HI AUSTIN HOLID 78752 189 100.12 99.90 435 459 BEST WESTERN FMR CLARION AUSTIN BWEST 78704 154 98.88 99.87 436 0 TOWNPLACE SUITES FMR MAI CLUTE TOWNP 77531 52 0.00 99.76 437 106 MARRIOTT HOTEL GREENSPOI HOUSTON MARRT 77060 390 138.15 99.70 438 524 HOMEWOOD SUITES BY HILTO COLLEGE ST HOMEW 77840 83 95.22 99.53 439 0 RESIDENCE INN AIRPORT 41 SAN ANTONI RESID 78209 120 0.00 99.46 440 377 HOMEWOOD SUITES LEWISVILLE HOMEW 75057 96 103.50 99.40 441 302 RESIDENCE INN HOUSTON RESID 77065 113 108.62 99.38 442 343 LA QUINTA INNS AND SUITE AUSTIN LAQUN 78735 128 105.63 99.37 443 513 FAIRFIELD INN & SUITES AUSTIN FAIRF 78750 84 95.87 99.36 444 418 HAMPTON INN FRISCO HAMPT 75034 105 101.47 99.30 445 466 SPRINGHILL SUITES 6/04 F HOUSTON SPRNG 77054 190 98.39 99.29

THE TOP 500 HOTELS OF 2ND QUARTER 2016 RANKED BY 2016 Hotel Name City Brand Zip Code Room Previous Current 446 629 COURTYARD AIRPORT SAN ANTONI COURT 78216 78 89.77 99.24 447 388 HILTON GARDEN INN EL PAS EL PASO HILTG 79902 153 102.94 99.22 448 252 SHERATON CONVENTION CTR ARLINGTON SHERA 76011 311 112.72 99.16 448 330 HAMPTON INN & SUITES BUDA HAMPT 78610 74 106.52 99.16 449 533 RESIDENCE INN LEWISVILLE LEWISVILLE RESID 75067 72 94.71 99.12 450 227 HYATT PLACE CREED BEND SUGAR LAND HYATP 77478 214 116.34 99.09 451 0 RESIDENCE MKT CTR DALLAS RESID 75247 142 0.00 99.07 451 429 HAMPTON INN & SUITES EL PASO HAMPT 79936 101 100.55 99.07 452 564 PLANTATION SUITES AND CO PORT ARANS 78373 50 93.03 99.03 453 396 HAMPTON INN & SUITES CORPUS CHR HAMPT 78408 80 102.48 98.94 454 389 HILTON GARDEN INN NEW BRAUNF HILTG 78130 103 102.77 98.91 455 225 ELEMENT HOUSTON VINTAGE HOUSTON ELEMT 77070 123 116.37 98.77 455 370 HAMPTON INN & SUITES EL PASO HAMPT 79925 139 104.08 98.77 456 589 SPRINGHILL FMR CLARION S DALLAS SPRNG 75220 96 91.82 98.71 457 179 BEST WESTERN SWISS CHALE PECOS BWEST 79772 105 123.39 98.62 458 615 BEST WESTERN INN & SUITE LEWISVILLE BWEST 75067 64 90.56 98.58 459 399 HOLIDAY INN DFW SOUTH FORT WORTH HOLID 76155 143 102.33 98.55 460 381 COURTYARD BY MARRIOTT LUBBOCK COURT 79423 78 103.32 98.50 461 672 HAMPTON INN LACY LAKEVIE BELLMEAD HAMPT 76705 119 87.47 98.47 462 351 HILTON GARDEN INN SUGAR LAND HILTG 77479 202 105.20 98.43 463 134 HOMEWOOD SUITES WESTCHAS HOUSTON HOMEW 77042 96 131.80 98.40 464 141 HOMEWOOD SUITES MIDLAND HOMEW 79701 118 130.41 98.22 465 0 SHERATON FMR HILTON FORT WORTH SHERA 76102 429 0.00 98.18 466 371 HAMPTON INN GALLERIA HOUSTON HAMPT 77027 176 104.05 98.04 467 693 HILTON GARDEN INN ROUND ROCK HILTG 78681 122 86.86 98.01 468 494 HAMPTON INN & SUITES SAN ANTONI HAMPT 78216 106 97.00 97.99 469 0 STAYBRIDGE AIRPORT/N STA SAN ANTONI STAYB 78216 136 0.00 97.97 469 659 HOLIDAY EXPRESS FORT WORTH HIEXP 76131 75 88.42 97.97 470 672 HAMPTON INN & SUITES SAN ANTONI HAMPT 78204 108 87.47 97.94 471 649 HOLIDAY INN WACO NW BELLMEAD HOLID 76705 122 88.81 97.84 472 0 HOME2 SUITES SAN ANTONI HOME2 78216 111 0.00 97.74 473 426 HOLIDAY EXPRESS EL PASO HIEXP 79936 90 100.78 97.69 473 518 ALOFT FRISCO FRISCO ALOFT 75034 136 95.74 97.69 474 581 LAJITAS RESORT AND SPA LAJITAS 79852 101 92.16 97.66 475 462 HOLIDAY EXPRESS CEDAR PARK HIEXP 78613 62 98.78 97.59 475 673 HAMPTON INN & SUITES DFW FORT WORTH HAMPT 76155 116 87.38 97.59 476 482 RESIDENCE FOSSIL CREEK FORT WORTH RESID 76137 114 97.46 97.55 477 0 HYATT HOUSE SUITES FMR S RICHARDSON HYATH 75080 130 0.00 97.48 478 643 COURTYARD BY MARRIOTT ARLINGTON COURT 76011 147 89.00 97.36 37

THE TOP 500 HOTELS OF 2ND QUARTER 2016 RANKED BY 2016 Hotel Name City Brand Zip Code Room Previous Current 479 0 BEST WESTERN PLUS FMR PL EULESS BWEST 76040 66 0.00 97.25 480 404 COURTYARD BY MARRIOTT CORPUS CHR COURT 78411 105 102.12 97.20 480 582 COURTYARD BY MARRIOTT DF IRVING COURT 75062 154 92.12 97.20 481 538 HAMPTON INN ALAMO SAN ANTONI HAMPT 78205 169 94.51 97.16 482 632 DOUBLETREE BY HILTON THE WOODLA DOUBL 77381 300 89.52 97.14 483 460 TOWNE PLACE SUITES FORT WORTH TOWNP 76102 140 98.84 96.98 484 240 DOUBLETREE HOTEL DOWNTOW EL PASO DOUBL 79901 200 114.62 96.97 484 479 LA QUINTA INN & SUITES FREDERICKS LAQUN 78624 55 97.57 96.97 485 613 HOLIDAY EXPRESS ARLINGTON HIEXP 76015 101 90.60 96.88 486 552 HOLIDAY INN TOWN LAKE AUSTIN HOLID 78701 322 93.76 96.85 487 406 RESIDENCE INN GATEWAY W EL PASO RESID 79925 96 102.07 96.75 488 0 HAMPTON INN/HOMEWOOD SUI HOUSTON HAMPT 77002 235 0.00 96.72 489 0 DRURY SUITES--MCALLEN MCALLEN X.MIN 78501 90 0.00 96.66 489 440 HAMPTON INN AND SUITES ABILENE HAMPT 79601 72 99.92 96.66 490 0 HOLIDAY EXPRESS WACO HIEXP 76712 119 0.00 96.54 491 0 QUALITY INN & SUITES GALVESTON QUALY 77551 91 0.00 96.45 491 118 HOLIDAY EXPRESS HOTEL PECOS HIEXP 79772 71 135.65 96.45 492 0 ALOFT COLLEGE STATION COLLEGE ST ALOFT 77840 105 0.00 96.43 493 314 WACO HILTON WACO HILTO 76701 195 107.47 96.42 494 472 MARRIOTT PLAZA HOTEL SAN ANTONI MARRT 78205 252 97.94 96.40 495 616 HAMPTON INN CORPUS CHR HAMPT 78410 55 90.39 96.38 496 452 HOLIDAY INN EXPRESS & SU LUBBOCK HIEXP 79404 77 99.15 96.36 497 317 HILTON GARDEN INN HOUSTON HILTG 77072 120 107.36 96.32 498 623 HOLIDAY EXPRESS ORANGE HIEXP 77632 73 90.04 96.26 499 0 HILTON GARDEN INN DALLAS ALLEN HILTG 75013 150 0.00 96.22 500 0 HAMPTON INN & SUITES MANSFIELD HAMPT 76063 88 0.00 96.21 38

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