Bank of Ireland Business Banking Event

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Bank of Ireland Business Banking Event 8 th November 2016 Sarah Duignan Director, Client Relationships - STR sduignan@strglobal.com 2016 STR, Inc. All Rights Reserved.

1 Bank of Ireland Business Banking Event 8 th November 2016 Sarah Duignan Director, Client Relationships - STR sduignan@strglobal.com 2016 STR, Inc. All Rights Reserved. Any reprint, use or republication of all or a part of this presentation without the prior written approval of STR, Inc. or STR Global, Ltd. trading as STR (collectively STR ) is strictly prohibited. Any such reproduction shall specifically credit STR as the source. This presentation is based on data collected by STR. No strategic advice or marketing recommendation is intended or implied.

2 Agenda Brief World Overview region by region Europe is Dublin ahead or behind it s European neighbours? Ireland the Good, the Good and the Good Focus on Dublin double digits continue The Future Pipeline & Forecast Questions

3 STR Coverage Our Sample Hotels & Hotel Rooms +34.8K +4,100K +9.4K +1,200K K +8.1K +1,500K +1.1K +179K K Hotels Rooms

4 Global RevPAR % Change, September 2016 YTD Developed markets hold steady, Emerging markets face headwinds North America +3.5% Central America +2.7% Northern Africa -0.9% Europe +2.2% Middle East Asia -9.3% -0.7% South America +8.5% Southern Africa +6.6% Australia & Oceania +3.8% USD, Europe in EUR, Constant Currency

5 Global Supply & Demand % Change, September 2016 YTD Subdued supply growth in developed markets, significantly higher in emerging markets Supply Demand 1.5% 1.5% 0.8% 4.1% 3.2% 0.6% 0.8% 4.7% 2.0% 1.2% 3.5% 5.0% 1.6% 2.9% North America & Caribbean -2.1% -3.2% Central America South America Europe Middle East Africa Asia Australia & Oceania

6 Europe is Dublin ahead or behind it s European neighbours?

7 Europe Main KPIs, September 2016 YTD Flat occupancy with some rate growth 70.9% Occupancy ADR RevPAR +0.2% +2.0% +2.2% EUR, Constant Currency

8 Europe RevPAR % Change, September 2016 YTD Top-end hotels have had a challenging year RevPAR %Chg Branded RevPAR %Chg Unbranded 7.0% 4.9% 4.9% 4.4% 4.9% 3.9% 4.4% -0.4% -0.9% -2.9% Luxury Upper Upscale Upscale Upper Midscale Midscale & Economy EUR, Constant Currency

9 Europe Cities Occupancy, ADR & RevPAR, September 2016 YTD 85% 80% 75% 70% 65% 60% 55% 50% 45% 40% ADR RevPAR Occupancy EUR

10 Europe RevPAR % Change, September 2016 YTD The impact of terror attacks are clear Helsinki Edinburgh 16 Copenhagen Dublin 19 Amsterdam 4 11 Warsaw 4 Berlin London Brussels 4 Prague 40 St. Petersburg 15 Moscow Kiev Paris Zurich Budapest Barcelona 9 Lisbon 5 11 Madrid Rome Belgrade -41 Athens Istanbul Local Currency

11 Ireland the Good, the Good and the Good

12 All Ireland ADR driving double digit recovery Occ/ADR/RevPAR 12 MMA % change - Jan 2007 to September % 20% 15% 10% 5% 0% -5% -10% -15% -20% -25% Occupancy % change ADR % change RevPAR % change RevPAR positive growth 68 months -30% EUR, Constant Currency

13 Regional Ireland not as robust as Dublin but very close Occ/ADR/RevPAR 12 MMA % change - Jan 2007 to September % 15% 10% Occupancy % change ADR % change RevPAR % change RevPAR positive growth 70 months 5% 0% -5% -10% -15% -20% -25% -30% EUR, Constant Currency

14 Key Northern & Southern Irish markets Absolute YTD RevPAR & RevPAR % change, September 2016 YTD EUR

15 Focus on Dublin double digits continue

16 Dublin almost 5.5 years positive RevPAR % change Occ/ADR/RevPAR 12 MMA % change Jan 2007 to September % 25% 20% 15% 10% 5% 0% -5% -10% -15% -20% -25% Occupancy % change ADR % change RevPAR % change RevPAR positive growth 65 months -30% EUR, Constant Currency

17 Number of Days Compression analysis Dublin High compression (>90%) occupancy nights drive a 41% higher ADR 61% increase in high compression nights boosting overall performance % 61% < 70 70>80 80>90 >90 Occupancy (%) EUR

18 Dublin submarkets Absolute Occupancy % and ADR, in Euros September 2016 YTD 95% 90% 85% 80% 75% 70% Dublin City Centre Dublin Airport Dublin Outer

19 Summary Ireland, Ireland Regional & Dublin Main KPI s September 2016 YTD Occupancy ADR RevPAR Ireland All Ireland Regional 79.9% % +15.4% 72.6% % % +10.1% +12.4% Dublin 84.2% EUR +1.3% +17.8% +19.4%

20 What does the future hold?

21 Europe Pipeline, Top 10 September 2016 Report, Pipeline by Room Count Existing Pipeline Ireland Italy Netherlands France Poland Turkey Russia Germany United Kingdom Thousands

22 Ireland - Top 5 Arrival Source Destinations 2017 # of international arrivals in thousands 6,000 5,000 4, % 11.00% 9.00% 7.00% 5.00% 3,000 2, % 1.4% -0.7% -1.6% 3.00% 1.00% -1.00% 1, % 0 5,929 1, % United Kingdom United States Germany France Spain Source: Tourism Economics

23 Dublin - Top 5 Arrival Source Destinations 2017 # of international arrivals in thousands 1,800 1,600 1, % 11.00% 9.00% 7.00% 1, % 1, % 1.9% 0.6% 0.2% 3.00% 1.00% -1.00% % 1,544 1, % United Kingdom United States Germany France Spain Source: Tourism Economics

24 2017- Occupancy Full 2017 Market forecast Key EU Performances +10% Brussels Milan, Rome, Paris, Budapest, Athens 0% Manchester, Glasgow, Amsterdam, Frankfurt, Edinburgh, Moscow Vienna, Prague, Madrid, Berlin, Zurich, Barcelona Warsaw, London, Dublin, Munich Dubai -3.0%

25 2017- ADR Full 2017 Market forecast Key EU Performances +7.0% 0% Dublin, Frankfurt, Amsterdam, Moscow, Edinburgh, Madrid, Barcelona Prague, Warsaw, Manchester, Berlin, Budapest, Athens, Glasgow, Brussels Vienna, Milan, Paris, Zurich, Rome, Munich, London Dubai -5.0%

26 A Rapidly Changing World

27 Questions? Thank You! Sarah Duignan Director Client Relationships, STR 2016 STR, Inc. All Rights Reserved. Any reprint, use or republication of all or a part of this presentation without the prior written approval of STR, Inc. or STR Global, Ltd. trading as STR (collectively STR ) is strictly prohibited. Any such reproduction shall specifically credit STR as the source. This presentation is based on data collected by STR. No strategic advice or marketing recommendation is intended or implied.

Office Rents map EUROPE, MIDDLE EAST AND AFRICA. Accelerating success.

Office Rents map EUROPE, MIDDLE EAST AND AFRICA Accelerating success. FINLAND EMEA Office Rents H2 212 NORWAY Oslo 38.3 5.4% 7.% 295, SWEDEN Stockholm 44.7 4.5% 3.% 5, Tallinn 13.4 44,2 21. 5.25% 1.% 12,