Market Snapshot. Third Quarter Copenhagen. All amounts are in Danish Kroner (DKK) Performance data supplied by STR Global

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1 Market Snapshot Third Quarter 2011 All amounts are in Danish Kroner (DKK) Performance data supplied by STR Global

2 Airport Statistics The third quarter of 2011 thrived with record summer months, as July, August and September all recorded their respective most active month ever. July was monitored as the busiest month in Airport s history, nearly reaching 2,285,000 passengers. The highest increase has been observed in September, with a 4.1% rise in travellers; the overall increase for Q3 being 2.6%. There was an increase in international travels in all three months; nonetheless, a drop in domestic travel was also noticed throughout Q3. The fact that the summer has been considerably rainy might explain the boost in passenger numbers where sunny destinations were quite popular. Airport has also been rated the world s best low cost airport in September, which may attract more media attention and awareness of the airport. The following table offers an overview of the passenger traffic at Airport. Visitors Profile The performance of Q3 in regards to travellers to was solid with an increase of 10.3% in visitors. The international demand remains firmly ahead of the domestic demand as it represented 68% of the total demand, leaving the domestic demand at 32%. This growth can be partly attributed to the VM Cycling competition that took place in September and drew a lot of attention. The most visiting countries include the neighbouring countries Sweden, Norway and Germany but also the UK and USA. These countries showed a steady growth in Q3, except for the USA, which experienced a decrease of 8.7% in travellers, whereas Sweden and Norway showed upturns of 11.5% and 8.2% respectively in their travellers. Domestic travelling also increased by 16.5% during Q3. The rising value of the Swedish kroner can be attributed to the increase of the number of Swedes travelling to. There has also been a noticeable increase in the number of travellers from Russia and China in Q3. As for the business mix, the business segment represented 40% whereas the leisure segment accounted for 59% and the other segment for 1%. There was a strong increase in the business segment with a growth of 63.5% and even though the leisure segment did not experience such an important increase, it nonetheless achieved an upturn of 25.8%. The only segment with a decrease of 29.8% was the other segment. The subsequent tables propose an overview firstly of the domestic and international demand and secondly of the main market segments; both tables are compared against results from Q3 in

3 Hotel Market The third quarter of 2011 showed positive results with an increase in occupancy of 1%, a 5.4% rise in ADR and a growth of 6% in RevPAR. Hilton Airport was named Denmark s Leading Business Hotel during that period and the number of international guests in hotels in has been recorded as the highest in 20 years. July was a robust month with upturns in all three key indicators, that is 1%, 4.8% and 5.9% in occupancy, ADR and RevPAR respectively. Notably, Crowne Plaza Towers had a record month in July with 17,000 guests and occupancy levels well above 80%. August was more challenging with drops in occupancy and RevPAR, 5% and 2.2% respectively, but an increase of 3% in ADR was nevertheless observed. Even though the Triathlon KMD Challenge took place in August, it was not enough to surpass last year s results. September however was definitely the strongest month of Q3 with increases as followed: 5.7% in occupancy, 8.5% in ADR and 14.6% in RevPAR. The VM Cycling explains to a great extent the September results as it drew 250,000 spectators to and millions watched the event on TV, which is a great marketing tool to promote as a sports destination. The subsequent table offers an overview of the hotel market performance in in Q3. Overall, in the first six months of 2011, the hotel market has shown outstanding results with RevPAR attaining a 12.5% increase and occupancy, 4.8%, which corresponds to the same level as in 2004 and can be partially attributed to the increase in the number of rooms. When adding the results of August and September, the outcome will be even more attractive. Hotel chains are partly responsible for these growths as they reached increases in double digit on a regular basis. It is worth to mention that hotels in the 2,3 and 4* categories achieved higher ADRs than the hotels in the same category in Stockholm and Oslo. 3

4 A new initiative is currently taking place as to strengthen tourism in that involves lowering the business tax, offering free Internet in more locations as well as injecting more funds to secure international flights to. Some issues must nevertheless be tackled including the possibility of extending opening hours as many boutiques and tourism sites are closed during weekends on one hand and restaurants close relatively early when compared to Southern countries on the other hand. As for the segmented performance of hotels, all three segments showed positive results in all three key indicators. Q3 was unquestionably a solid quarter for the midscale segment with increases in each indicator, every month. September was the strongest month, with increases in the double figures, i.e. 13.3%, 14% and 29.2% in occupancy, ADR and RevPAR respectively. July recorded similar results with growths of 8.6% in occupancy, 13.1% in ADR and 22.8% in RevPAR. August experienced lower increases, with 4.3%, 6.1% and 10.6% rises in the same key indicators. Upscale hotels also monitored positive results throughout Q3 with September as the sturdiest month with increases of 7.6%, 11.1% and 19.5% in occupancy, ADR and RevPAR respectively. August was the only month with a decrease in one of the key indicators, occupancy, with a drop of 1.1%. Finally, a similar pattern for the luxury segment was observed in regards to the best performing month, the latter being September, with increases ranging from 4.7%, 5.5% to 10.5% in occupancy, ADR and RevPAR respectively. July recorded positive results in all three key indicators, but August however monitored negative results in the same indicators with decreases of 0.8% in occupancy, 2% in ADR and 3% in RevPAR. The tables below present an overview of the segmented hotel performance that occured in during Q3. New Developments There are limited on- going new developments in, as shown by the table below. However, the hotel market in is active as Marriott is undergoing a complete renovation, but is still operating throughout the renovation and Hotel D Angleterre closed its doors for a complete makeover and is expected to open early Scandic Sydhavnen has completed its expansion with 100 additional rooms in late September and so has Bella Sky Hotel for a total of 812 rooms. It is rumoured that the CabInn Metro is set to expand with 200 additional rooms, to reach 909 rooms, which will make this hotel the largest in, dethroning Bella Sky. Moreover, it was announced that a new multi arena in Ørestad is due to open in four years. Also, First Hotels, which has merged with Choice Hotels in the past few months, has changed the name of the formerly Hotel TwentySeven to First Hotel TwentySeven. 4

5 Copyright This report is the property of NHC and may not be reproduced in parts or whole prior to the written consent of NHC. Disclaimer NHC does not guarantee the accuracy of the data presented in this report and cannot be held liable here for any analysis, opinions or decisions derived from reading this report as it is solely at the responsibility of the reader to draw up conclusions. NHC cannot be held liable for any outcome of analysis, opinions and decisions formed based on the information presented in this report. Contact Karine Bourget Hotel & Leisure Consultant Nordic Hotel Consulting Mobile:

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