2004 First Quarter Analysis

**Total International**
	YOY % Change
Mar-03	-20%
Apr	-6%
May	-12%
Jun	-7%
Jul	-4%
Aug	-3%
Sep	-4%
Oct	1%
Nov	7%
Dec	1%
Jan -04	2%
Feb	13%
Mar	20%

**Overseas Arrivals**
	YOY % Change
Mar-03	-23%
Apr	-14%
May	-16%
Jun	-13%
Jul	-6%
Aug	-5%
Sep	-1%
Oct	1%
Nov	4%
Dec	4%
Jan -04	5%
Feb	11%
Mar	26%

**Canadian Arrivals**
	YOY % Change
Mar-03	-6%
Apr	-11%
May	-9%
Jun	0%
Jul	-5%
Aug	1%
Sep	-8%
Oct	1%
Nov	11%
Dec	-2%
Jan -04	-1%
Feb	15%
Mar	14%

**Mexican Arrivals**
	YOY % Change
Mar-03	-52%
Apr	62%
May	3%
Jun	0%
Jul	3%
Aug	-4%
Sep	-1%
Oct	0%
Nov	13%
Dec	-5%
Jan -04	-7%
Feb	17%
Mar	14%

**United Kingdom Arrivals**
	YOY % Change
Mar-03	-17%
Apr	10%
May	5%
Jun	2%
Jul	4%
Aug	0%
Sep	5%
Oct	8%
Nov	5%
Dec	3%
Jan -04	11%
Feb	7%
Mar	26%

**Japanese Arrivals**
	YOY % Change
Mar-03	-24%
Apr	-41%
May	-39%
Jun	-33%
Jul	-17%
Aug	-12%
Sep	-7%
Oct	-4%
Nov	3%
Dec	11%
Jan -04	9%
Feb	12%
Mar	31%

**German Arrivals**
	YOY % Change
Mar-03	-22%
Apr	7%
May	-7%
Jun	-7%
Jul	-1%
Aug	4%
Sep	-5%
Oct	2%
Nov	10%
Dec	4%
Jan -04	8%
Feb	12%
Mar	37%