03-05-07 Special Called Joint Meeting of the La Porte Development Corporation Board of Directors and the La Porte City Council Minutes

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HOTEL MARKET ANALYSIS IV-1 HOTEL MARKET OVERVIEW There are currently no full-service hotels located in the primary market area. Therefore, there is no directly competitive hotel market that can be used as a competitive set for the proposed Sylvan Beach Hotel. In order to determine the recommended facilities and to estimate the performance of the subject hotel, we have evaluated three different sets of hotels: existing area hotels, comparable hotels and competitive hotels located outside the market area. Existing Area Hotels The primary hotel market area is comprised of limited-service, select-service and extended-stay hotels located in La Porte, Pasadena and Deer Park. These properties tend to have a limited number of rooms, meeting space, services and amenities. The following table presents a list of the branded hotels located in these markets. Existing Area Hotels * La Porte La Quinta Inn Best Western Comfort Suites Holiday Inn Express Total Pasadena Quality Inn Super 8 Intown Suites La Quinta Total Deer Park Best Western Comfort Suites Hampton Inn Super 8 Total 112 49 67 55 283 108 49 121 63 341 54 56 63 30 203 Total Existing Hotels 827 . Includes only hotels with national brand affiliations. Source: PKF Consulting 1985 1996 1999 Oct 2006 1993 2000 2001 Dee 2006 1998 2003 2003 Nov 2006 In addition to these branded hotels, there are also numerous independent Iimited- service hotels and motels located throughout the market. Some of the independent properties located in the La Porte market include Fairway Inn, Garden Suites, Bayshore Motel, Plaza Hotel, Bayport Motel, Kings Bay and Port Inn.