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' C <br />Tachometer <br />October 2010 <br />NEWS FLASH <br />Cabarrus Occupancy completes a summer run like a <br />300 mph Top Fuel Dragster hits the finish line!!!! <br />Cabarrus Occupancy — August Smith Travel Research <br />August Occupancy completed a strong summer for tourism in Cabarrus County. June, <br />July, and August each saw increases in Year over Year occupancy. August occupancy <br />percentage was 53.3% vs 46.0% over the same period in 2009. This increase of 15.8% <br />in Cabarrus Occupancy exceeded the increase in occupancy at the state level of 7.7 %. <br />August Average Daily Rate (ADR) in Cabarrus County was $80.09 down 4.3% from <br />August 2009. Cabarrus County Year to Date Average Daily Rate is $85.23 down 2.9 %. <br />The State ADR in August was $81.73 down .2% from last year. Lower ADR's have <br />been a national trend as lodging properties have had to sacrifice rate to help drive <br />occupancy; however, the gap is closing and ADR's are starting to recover. <br />August Revenue Per Available Room (RevPAR) in Cabarrus County was $42.68 up <br />10.8% from August 2009. Cabarrus County Year to Date RevPAR is $46.30 down .3 %. <br />The State RevPAR in August was $47.36 up 7.5 %. RevPAR is a key indicator to <br />lodging properties because it evaluates Occupancy and ADR combined. <br />Demand for rooms in Cabarrus County in August was up 24.8% and up 20.7% YTD. <br />The state was up 9.9% in August and is up 9.0% YTD. <br />1 -2 Page 248 <br />"6 *t <br />ffi/'--11101 i <br />a— R- <br />