INVAST HOTELS HOTEL REAL ESTATE IN THE NETHERLANDS & AMSTERDAM

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1 INVAST HOTELS HOTEL REAL ESTATE IN THE NETHERLANDS & AMSTERDAM 2012 market summary

2 HOTEL REAL ESTATE IN THE NETHERLANDS The Dutch hotel market is a relatively small market in comparison to the European market. The main hotel areas in the Netherlands are Amsterdam, Schiphol (Haarlemmermeer) Rotterdam, The Hague and Utrecht, of which the Amsterdam region is by far the largest hotel market. In the Netherlands there are classified hotels (2012). These hotels have a total of rooms. The information below show the partition of the differentiation of the Dutch hotel market, hotels and hotel rooms. Market Statistics Number of hotels: Number of rooms: hotels (Dutch Hotel Classification 2012) hotel rooms 1 star segment (budget) star segment (budget) star segment (mid-scale) star segment (up-scale / luxury) star segment (luxury +) Segment market share hotel rooms 5% 3% 7% 1* 2* 34% 51% * Occupancy Average Room Rate RevPAR * Source: Horwath % 65.1% 62,5% 68,1% 72,5% 72,1% Investment Market In there were 38 hotels of which the real estate was sold. The total transaction volume in was approximately , in comparison with this is an increase of 98%. But this was including the deal of the Mint Hotel of approximately 130 million. * 4* 5* Key Indicators Netherlands 3* RevPAR: Revenue per available room 2

3 Owner-Operators were most active in en on Dutch hotel investment market which was the same in. Price per room The price paid per room was in ,-. This is more than the double of the price paid per room in, which was ,-.The main cause of the increase is that in more hotels in Amsterdam have been sold, but also the sale of the Mint Hotel. If the Mint Hotel is not calculated in total, the transaction volume per room is Hotel Real Estate Transactions Volume (x1.000) Price per room Source: Invast First quarter 2012 In the first quarter of 2012, Deka Immobilien bought with WestInvest Gesellschaft für Investmentfonds the American Hotel Amsterdam for 58,5 million. Holiday Inn Eindhoven was sold in March 2012 for 22,5 million to Invesco Real Estate. Hotel Real Estate owners Source: Invast 3

4 HOTELS & REAL ESTATE AMSTERDAM Amsterdam is the capital of the Netherlands with 783,000 inhabitants. The Amsterdam hotel market still is by far the best performing hotel market in the Netherlands. The tourism industry in Amsterdam has recovered massively after the relapse due to the financial- and economic crisis. As one of the first large cities in Europe, Amsterdam presents a large increase in number of hotel nights, in with 11%. Occupancy rates and room rates are significantly higher than the average national rates. Market Statistics Number of hotels: Number of rooms: 303 hotels (Dutch Hotel Classification) hotel rooms 3 star segment (mid-scale) (32% market share) 4 star segment (up-scale / luxury) (34% market share) 5 star segment (luxury +) (16% market share) Key Indicators Occupancy(%) ARR ( ) Source: HOSTA - (3, 4 en 5 star hotels) Occupancy (%) ARR ( ) Source: STR - in the city centre (canal area) are even better performing (10%) than average in Amsterdam. Amsterdam Tourism Agency 4

5 Occupancy (%) ARR ( ) Source: HOSTA - The following figures are based on valuations and sales instructions of Invast. Amsterdam Occupancy Average Room Rate RevPAR 84% % % % % Source: Invast (3 and 4 star hotels) Occupancy (%) Average Room Rate ( ) 3 *** hotels 84% 80% 79% 81% 88% **** hotels 83% 81% 78% 81% 87% Source:: Invast Amsterdam Occupancy 72% Source: O&S Amsterdam Investment Market When looking at hotel transactions, Amsterdam is by far the most vibrant city in the Netherlands. In the total transaction volume in Amsterdam was which is 80% of the total transaction volume in the Netherlands. For Amsterdam, this included 785 hotel rooms with an average transaction price of per room including the Mint Hotel with an average price per room of If the Mint Hotel is not counted, the average price per room is in. The transaction of the Crowne Plaza Amsterdam South of 29 million is not included. Price per room in Average in A dam ** hotels 3 *** hotels 4 **** hotels Source: Invast Although the economic crisis had a major impact in Amsterdam, this also opens up investment opportunities in the near future. 5

6 2012 In the first quarter of 2012 WestInvest Gesellschaft für Investmentfonds (Deka Immobilien ) bought the American Hotel for 58,5 million euro by a sale-and-lease-back. The MGallery Convent Hotel is sold for 23,5 million in August Internos Real Investors bought the hotel with a sale-and-lease-back of Accor. Hotel real estate owners Source: Invast Hotel brands Total hotels Amsterdam Total hotel rooms Amsterdam 29% Brand 35% Brand Non-brand 65% 71% Source: Invast Source: Invast 6 Non-Brand

7 INVAST HOTELS Invast is the specialized hotel real estate brokerage & advisory firm in the Netherlands. Invast combines excellent knowledge of hotels and commercial real estate. Unparalleled is our research on hotels and real estate in the Netherlands. Our database contains complete information, including ownership data, of hotels in the Netherlands of hotels in total. On a yearly base Invast publishes an outlook of the Dutch hotel real estate transactions. Activities portfolio expansion development consulting acquisition and disposal brokerage contract analysis and negotiation financing arrangements Client categories hotel operators investors developers municipalities Visit our website for more background and hotel research Statenlaan 59 P.O. Box CD DEN HAAG Netherlands : : info@invasthotels.com 7