RevPAR Index definition

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

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

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.

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%.

• The remaining 50% of the 2011 Annual Bonus shall depend on the following performance metrics: 40% on EBITDA and 10% on the RevPAR Index, both as established by the Compensation Committee of the Board of Directors.

• The remaining 50% of the 2011 Annual Bonus shall depend on following performance metrics: 40% on EBITDA and 10% on the RevPAR Index, both as established by the Compensation Committee of the Board of Directors.

• The costs of resetting the Leased Property's Competitive Set or the RevPAR Index Baseline shall be borne equally by the parties.

• Lessor and Lessee shall work in good faith to determine any additions and deletions to the Leased Property's Competitive Set, and any resetting of the RevPAR Index Baseline as necessary to reflect changed circumstances, on or before December 15 of each Lease Year, with such changes to be applicable for the following Lease Year.

More Definitions of RevPAR Index

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.

RevPAR Index means the "Star Report" for the relevant period prepared by Smit▇ ▇▇▇vel 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 measurement of a hotel’s or group of hotels’ fair market share of a competitive set’s RevPAR (for more information with respect to RevPAR index, see “Certain Financial Information”);

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 fraction that is equal to (a) the RevPAR for the hotel divided by (b) the average RevPAR for the hotels in the Competitive Set. Appropriate adjustment to the Initial RevPAR Index or the Final RevPAR Index shall be made by the Administrator in the event of a major renovation or force majeure event affecting an Eligible Hotel or a competitor hotel in the Competitive Set.

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 repo▇▇▇ ▇hall 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.