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Las Vegas Resort Hotel Market The Las Vegas lodging market has historically attained occupancy levels well above the national average. The following table presents an analysis of the Las Vegas lodging market since 1985: LAS VEGAS LODGING STATISTICS % INVENTORY CHA Oo NGE % TOTAL ROOMS OCCUPIED 1985 1986 1987 1988 1989 1990 1991 1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 YTD 5/14 YTD 5/15 53,067 56,494 58,474 61,394 67,391 73,730 76,879 76,523 86,053 88,560 90,046 99,072 105,347 109,365 120,294 124,270 126,610 126,787 130,482 131,503 133,186 132,605 132,947 140,529 148,941 148,935 150,161 150,481 150,593 _ 150,544 149,347 149,352 HOTEL % MOTEL % TOTAL OCCUPANCY CHANGE OCCUPANCY CHANGE OCCUPANCY CHANGE 84.7 aoe 70.1 o25 79.8 86.3 1.9 70.9 1.1 81.4 87.0 0.8 74.0 4.4 83.4 89.3 2.6 73.7 (0.4) 85.1 89.9 0.7 F238) (1.6) 85.2 89.1 (0.9) 69.8 (3.7) 84.7 85.2 (4.4) 62.6 (10.3) 80.3 88.8 4.2 66.1 5.6 83.9 92.6 43 69.7 5.4 87.6 92.6 0.0 73.2 5.0 89.0 91.4 (1.3) 72.4 (1.1) 88.0 93.4 2.2 75.7 46 90.4 90.3 (3.3) 68.8 (9.1) 86.4 90.3 0.0 67.3 85.8 66.8 67.0 15,456,825 see 16,784,932 8.6 17,800,070 6.0 19,069,897 7.1 20,957,253 9.9 22,793,998 8.8 22,532,851 (1.1) 23,434,021 4.0 27,514,586 17.4 28,768,716 46 28,922,775 32,689,797 33,222,230 34,249,837 38,638,433 40,414,468 39,142,115 38,859,613 39,760,735 41,953,010 43,362,698 45,787,180 43,867,192 42,967,252 41,986,134 43,365,743 45,654,165 46,479,707 46,191,449 47,497,234 19,909,507 mon 19,758,379 (0.8) HOUSE_OVERSIGHT_018782