RevPAR Index definition

RevPAR Index means the RevPAR Index included in the Xxxxx Travel Research Report (“STR Report”).

RevPAR Index means the RevPAR Index included in the STR Report produced for the Hotel by Xxxxx Travel Research or, if Xxxxx Travel Research no longer is in existence, the successor of Xxxxx Travel Research or such other industry resource that is equally as reputable as Xxxxx Travel Research will be substituted, in order to obtain substantially the same result as would be obtained if Xxxxx Travel Research has not ceased to be in existence.

RevPAR Index means the ratio, expressed as a percentage, of (a) the RevPAR of the Hotel to (b) the average RevPAR of the Competitive Set.

Examples of RevPAR Index in a sentence

• Base Fee – 3% of Total Revenue Incentive Management Fee – 20% of Proceeds after Owner’s Priority 12% of Purchase Price Owner will have the right to terminate the management agreement if in any year (after the first “stub” year) the following occurs: (a) Gross Operating Profit is less than the Performance Termination Threshold AND (b) the RevPAR Index is less than 100%.

• Occupancy Index and RevPAR Index calculations are based on competitive set data provided by Smith Travel Research, Inc., an independent research firm that provides information to the hotel industry.

• It allows the estimation of differences image, what facilitates the identification and enhances the accuracy of burned areas detection methodologies.

• RevPAR Index is calculated as follows: (Hotel RevPAR / Comp Set RevPAR) x 100 = RevPAR Index.

• The charts for Occupancy Index and RevPAR Index utilize a weighting that involves adjusting the competitive set’s rooms available (supply) to equal the room count of the subject property.

More Definitions of RevPAR Index

RevPAR Index is calculated as the weighted average of the Company’s relative share of RevPAR compared to each hotel’s competitive set, as defined by STR, Inc. and related institutions, for the Company’s comparable hotels, as defined in the Company’s reports filed with or furnished to the SEC, as of the period end.

RevPAR Index means the "Star Report" for the relevant period prepared by Smitx Xxxvel Research for the competitive market area used by the Lessee for its own marketing purposes in which the Portfolio Hotels that is the subject of an adjustment in EBITDA is located.

RevPAR Index means the ratio, expressed as a percentage, of the Hotel's Revpar for any Fiscal Year to the weighted average (by room count) of the Revpar achieved at each of the hotels in the Competitive Set for such Fiscal Year.

RevPAR Index means the quotient of Hotel’s REVPAR over a set period of time divided by the Competitive Set’s REVPAR over the same period of time.

RevPAR Index means the REVPAR Index included in the STR Report for the Reference Group.

RevPAR Index means that fraction which is equal to: (i) the RevPAR for the Hotel, divided by (ii) the average RevPAR for the Comparable Hotels, as set forth in the Revenue Data Publication. Appropriate adjustments shall be made in the event of a major renovation of the Hotel.

RevPAR Index as used in this Agreement shall mean the Competitive Set RevPar Index as reported by Smith Travel Research. The Competitive Set included in the STR repoxxx xhall be the Competitive Set in existence at the time this Agreement is executed and shall be attached hereto as Exhibit "A" to Management Fee Rider and may not be changed except by the mutual agreement of the Lessee and the Manager. The RevPar Index used in the calculation of the Additional Incentive Fee shall be the year to date RevPar Index for the latest STR Report in existence when final year-end financial statements are delivered to Lessee.