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P. 10

Confidential

      MARKET ANALYSIS

       US MARKET

        Hotels VS Small Businesses

            80%                                     93%                               88%

    Revenues per year                            Businesses                        Employees

10  Hotels (20%) VS small businesses (80%)  Hotels (7%) VS small businesses (93%)  Hotels (12%) VS small businesses (88%)

    TURNOVER RATE                                            Industry Overview

    Hotels                                  50%              In the US

    Restaurants                             72%              The hospitality industry considered as one
                                                             of the largest industries in the US:
    Total                                   70%
                                                             •	 Over a 1.3M businesses.
                                                             •	 Over 1T revenues per year.
                                                             •	 Over 18M emloyees, around 10% of the

                                                                   total US workforce.
                                                             •	 Over 70% of turn over rate.
                                                             •	 The hospitality industry is growing at 4.3

                                                                   percent per year
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