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 = UERORY, % HOTEL % MOTEL % TOTAL % Aba % CHANGE OCCUPANCY CHANGE OCCUPANCY CHANGE OCCUPANCY CHANGE OCCUPIED CHANGE 1985 53,067 --- 84.7 --- 70.1 --- 79.8 --- 15,456,825 --- 1986 56,494 6.5 86.3 1.9 70.9 1.1 81.4 2.0 16,784,932 8.6 1987 58,474 3.5 87.0 0.8 74.0 4.4 83.4 2:5 17,800,070 6.0 1988 61,394 5.0 89.3 2.6 73.7 (0.4) 85.1 2.0 19,069,897 7.1 1989 67,391 9.8 89.9 0.7 72.5 (1.6) 85.2 0.1 20,957,253 og 1990 73,730 9.4 89.1 (0.9) 69.8 (3.7) 84.7 (0.6) 22,793,998 8.8 1991 76,879 4.3 85.2 (4.4) 62.6 (10.3) 80.3 (5.2) 22,532,851 (1.1) 1992 76,523 (0.5) 88.8 4.2 66.1 5.6 83.9 4.5 23,434,021 4.0 1993 86,053 12.5 92.6 4.3 69.7 5.4 87.6 4.4 27,514,586 17.4 1994 88,560 2.9 92.6 0.0 73.2 5.0 89.0 1.6 28,768,716 4.6 1995 90,046 1.7 91.4 (1.3) 72.4 (1.1) 88.0 (1.1) 28,922,775 0.5 1996 99,072 10.0 93.4 2.2 75.7 4.6 90.4 2.7 32,689,797 13.0 1997 105,347 6.3 90.3 (3.3) 68.8 (9.1) 86.4 (4.4) 33,222,230 1.6 1998 109,365 3.8 90.3 0.0 67.3 (2.2) 85.8 (0.7) 34,249,837 3.1 1999 120,294 10.0 92.1 2.0 68.6 1.9 88.0 2.6 38,638,433 12.8 2000 124,270 3.3 92.5 0.4 71.9 4.8 89.1 1.3 40,414,468 4.6 2001 126,610 1.9 88.9 (3.9) 63.8 (11.3) 84.7 (4.9) 39,142,115 (3.1) 2002 126,787 0.1 88.8 (0.1) 60.2 (5.6) 84.0 (0.8) 38,859,613 (0.7) 2003 130,482 2.9 89.6 0.9 60.5 0.5 85.0 1.2 39,760,735 2.3 2004 131,503 0.8 92.0 2.7 68.7 13.6 88.6 4.2 41,953,010 5.5 2005 133,186 1.3 91.8 (0.2) 72.0 4.8 89.2 0.7 43,362,698 3.4 2006 132,605 (0.4) 93.2 1.5 65.2 (9.4) 94.6 6.1 45,787,180 5.6 2007 132,947 0.3 94.0 0.9 64.5 (1.1) 90.4 (4.4) 43,867,192 (4.2) 2008 140,529 5.7 89.8 (4.5) 57.8 (10.4) 86.0 (4.9) 42,967,252 (2.1) 2009 148,941 6.0 85.3 (5.0) 50.1 (13.3) 81.5 (5.2) 41,986,134 (2.3) 2010 148,935 (0.0) 83.5 (2.1) 52.0 3.8 80.4 (1.3) 43,365,743 3.3 2011 150,161