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<br />-, <br /> <br />._~ <br /> <br />'--1 <br /> <br />,~ <br /> <br />, , <br /> <br />TABLE 4 <br /> <br />,,,j <br /> <br />" <br /> <br />ESTIMATES OF INTERNATIONAL VISITORS BY REGION <br /> <br />~.J <br /> <br />" <br /> <br /> <br />EUROPEAN COUNTRIES 25.8% 25.6% 25.1% <br />CARIBBEAN COUNTRIES 13.9% 13.6% 12.9% <br />CENTRAL AMERICAN COUNTRIES 7.5% 7.4% 7.4% <br />SOUTH AMERICAN COUNTRIES 38.7% 39.4% 40.5% <br />CANADA 11.0% 11.1% 11.2% <br />OTHER COUNTRIES 3.1% 2.9% 2.9% <br />TOTAL 100% 100% 100% <br /> <br />" <br /> <br />,_.J <br /> <br />" <br /> <br />,,,,) <br /> <br />,~ <br /> <br />'-, <br /> <br />._J <br /> <br />t-- 1 <br /> <br />,_J <br /> <br /> <br />Source: Greater Miami Convention and Visitors Bureau, Tourism Facts and Figures <br /> <br />. , <br /> <br />,-~ <br /> <br />There are approximately 50,000 motel and hotel rooms in Greater Miami and the Beaches. The <br />hotel-motel occupancy rate for 1998 of71.4% was above the rates for 1995 and 1996 of70.0% and <br />71.2%, respectively, but below the 1997 rate of 73.1 %. The rate dropped to 69% in 1999. The <br />occupancy rate for 2000 is estimated at 72%. The average room rate in 2000 was $112.00. <br /> <br />., <br /> <br />._J <br /> <br />" <br /> <br />~I <br /> <br />The first in a series of new luxury properties opened in September 2000 when the 21-story, 300-room <br />l.W. Marriott debuted on Brickell Avenue. In November of2000, a 330-room Mandarin Oriental <br />opened on Brickell Key. A Four Seasons hotel and tower is scheduled to open in 2002 on Brickell <br />Avenue at South 14th Terrace. The 66-story tower will feature 220 guest rooms plus 56 extended- <br />stay units. The property will also include 200,000 square feet of office space. In addition to the new <br />properties mentioned above, a 350-room Ritz Carlton beachfront hotel opened in Key Biscayne <br />during 2001. Two other Ritz Carltons are expected to be completed in 2002. <br /> <br />,,,j <br /> <br />"",J <br /> <br />" <br /> <br />,~ <br /> <br />Miami-Dade Financial Resources <br /> <br />'-, <br /> <br />l_ J <br /> <br />" <br /> <br />Over the course of the last decade, Greater Miami has evolved into a major international financial <br />center. Domestic and international businesses find convenient access to a full array of services <br />provided by locally-based state and national commercial banks, savings and loan associations, <br />foreign banks, non-depository credit institutions, securities and commodities brokers and insurance <br />compames. <br /> <br />,~ <br /> <br />" <br /> <br />,~ <br /> <br />" <br /> <br />Greater Miami has the largest concentration of domestic and international banks south of New York <br /> <br />QUINLIVAN APPRAISAL <br /> <br />.~ <br /> <br />13 <br /> <br />,_J <br />