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Lalala

FINANCIAL PROFORMA
Projections of the annual operating results for the proposed unit, Country Inn and
Suites, were prepared for five years, 2010 through 2014. The projections are based on the
results of operations in comparable facilities and our calculations regarding the environment
in which the proposed hotel would operate. The bases found on the following pages were
prepared in constant dollars, April 2008, with slight inflation increases noted in the Proforma
Schedules.
Trends in the Hotel Industry – 2007, by PKF HospitalityResearch, Atlanta, Georgia,
for resort hotels is positioned as a benchmark for the Proforma of the proposed Country Inn
and Suites.
The first year, 2010, of the Proformawas calculated by line item classifications. This
detail lists all of the types of Revenues, Payroll and Other Expenses in each Department.
Subsequent years of the Proforma were adjusted to inflation and normal usage factors of a
midpriced hotel. These Schedules have been prepared according the guidelines set forth in the
“Uniform SystemofAccounts for theLodging Industry,Tenth Revised Edition.” Subsequent
years of the Proforma were adjusted to inflation and normal usage factors of a midpriced
transient hotel.
The accompanying projections are based on estimates and assumptions developed in
connection with the Feasibility Study. However, some assumptions inevitably will not
materialize, and unanticipated events and circumstances may occur, therefore, actual results
achieved during the projection period will vary from the projections and the variations may
be material.
page H-2
Country Inn and Suites
Cape Coral, Florida
100 Units Proforma Year One Schedule 1 of 9
Full Year
Available Suite Nights 36,500 Full Year
Occupancy 70.0% Dollars
Occupied Suite Nights 25,550 Per
Average Daily Rate 122.00 Ratio Available
RevPar 85.40 % Room
Revenues
Rooms 3,117,100 95.9 85.40
Telecommunications— Complimentary
Retail Center 76,650 2.4 2.10
Other 57,490...