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<br />HOTEL MARKET ANALYSIS <br /> <br />IV-6 <br /> <br />HOTEL DEMAND OVERVIEW <br /> <br />In order to evaluate the demand for an upscale, full-service hotel in the primary market <br />area, we conducted a mail survey of corporations located in the Battleground Industrial <br />District and Bayport Industrial District and La Porte community organizations. We also <br />evaluated existing meeting facilities and the potential for leisure demand in the primary <br />market area. <br /> <br />Survey Results <br />Surveys were mailed to 105 corporations and 13 community organization, of which 33 <br />corporations responded (31%) and four community organizations responded (31%). The <br />results of the survey are presented in the following table. <br /> <br /> <br />Survey Results <br />Proposed Sylvan Beach Hotel <br /> <br />Number of Surveys <br />Mailed Out 105 13 <br />Returned 33 31% 4 31% <br />Need for an Upscale, Full-Service Hotel <br />Yes 19 58% 2 50% <br />No 14 42% 2 50% <br />Number of People Needing Hotel Rooms <br />Annual Range Per Respondent 6 to 240 N/A <br />Respondents With Need for an Upscale, Full-Service <br />Hotel That Are Leaving the Local Market Area <br />Number Reporting Current Hotel Used 18 1 <br />Number Leaving the Local Market Area 14 78% 0 0% <br />Need for Meeting Space <br />Yes 23 70% 4 100% <br />No 10 30% 0 0% <br />Size of Meetings (Number of Attendees) <br />Training Meetings 5 to 50 <br />Banquets/Awards 100 to 650 200 to 450 <br />Holiday Parties 80 to 150 <br />Other Meetings 10 to 400 10 to 75 <br />Respondents With Meeting Space Need That Are <br />Leaving the Local Market Area <br />Number Reporting Current Hotel Used 22 4 <br />Number Leaving the Local Market Area 18 82% 0 0% <br />Respondents That Would Use the Proposed Hotel <br />on Sylvan Beach or La Porte Bayfront <br />Yes 26 79% 4 100% <br />No 7 21% 0 0% <br />Source: PKF Consulting <br />