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Resort ConferenceMarch 21st, 2006;Agenda Total US Overview Resort Locations Destination Resorts Condo Hotels Total US Projections;Total United StatesEstimated Revenue and ProfitabilityYears 1999 – 2005P;U.S. Lodging Industry - Key StatisticsLatest 12 Months - January 2006 ;Total United StatesRoom Supply/Demand Percent ChangeTwelve Month Moving Average – 1989 to January 2006;Total United StatesOccupancy/ADR Percent ChangeTwelve Month Moving Average – 1989 to January 2006;Total United StatesOccupancy Percent, Average Daily Rate, RevPARTwelve Month Moving Average – 1989 to January 2006;STR Chain ScalesSelected chains from each segment;Chain ScalesSupply/Demand Percent ChangeTwelve Months Ended January 2006;Chain ScalesOccupancy/ADR Percent Change Twelve Months Ended January 2006;Chain ScalesRevPAR/Room Revenue Percent Change Twelve Months Ended January 2006;Agenda Total US Overview Resort Locations Destination Resorts Condo Hotels Total US Projections;Resort Locations Key Statistics12 Month Moving Average January 2006;Resort LocationsRoom Supply/Demand Percent ChangeTwelve Month Moving Average – 1989 to January 2006;Resort LocationsRoom Demand Percent Change PeaksTwelve Month Moving Average – 1989 to January 2006;Resort LocationsOccupancy/ADR Percent ChangeTwelve Month Moving Average – 1989 to January 2006;Resort LocationsOccupancy Percent, Average Daily RateTwelve Month Moving Average – 1989 to January 2006;ResortsDay of Week Analysis – Occupancy 2003 - 2005;ResortsDay of Week Analysis – ADR 2003 - 2005;ResortsGroup vs. Transient ADR 2003 - 2005;ResortsDay of Week ADR - Group 2003 - 2005;ResortsDay of Week ADR – Transient2003 - 2005;Agenda Total US Overview Resort Locations Destination Resorts Condo Hotels Total US Projections;Destination Resort Key Statistics12 Month Moving Average January 2006;Destination ResortsRoom Supply/Demand Percent ChangeTwelve Month Moving Average – 1989 to January 2006;D