TRUCKEE | CALIFORNIA HOSPITALITY OVERVIEW 1Q | 20

a Berkshire Hathaway and Jefferies Financial Group company

1Q | 20TRUCKEE | CALIFORNIAHOSPITALITY OVERVIEW

ECONOMIC AND DEMOGRAPHIC OVERVIEWBERKADIA

TRUCKEE | CALIFORNIA

INTRODUCTION Sitting along the Sierra Nevada range, Truckee, California, is a vibrant mountain town that offers a true escape from the mundane. A unique arts and culture scene, inspired by an abundance of natural wonder, draws visitors from across the country to experience everything that Truckee has to offer: picturesque snowy peaks, unforgettable gourmet cilinary experiences, beautiful crafts designed by local master artisans - Truckee has it all.

Truckee is also situated close to several of the top tourism destinations in the country, making the community a perfect hub for traveling to Lake Tahoe; Reno, Nevada; and other top vacation spots in California and Nevada. By offering an experience that seamlessly blends mountain town living with a long list of state-of-the-art amenities, Truckee has all the potential to become one of the country’s hospitality hot spots over the next decade.

Top Adventure VacationLake Tahoe was ranked among the top 5 “Best Adventure Vacations” in the United States -U.S. News & World Report

Coolest Ski TownTruckee was named the “Coolest Ski Town in North America”-Matador Network

Emerging Arts SceneRecognized as a “California Cultural District” by California Arts Council, thanks to Truckee’s strong community of artists, performers, and chefs-Truckee Chamber of Commerce

Top Winter DestinationOver 200 inches of snowfall draws 225,000 visitors to Truckee each year-SierraSun.com


(5,000)

0

5,000

10,000

15,000

20,000

0%

3%

6%

9%

12%

15%

2010 2011 2012 2013 2014 2015 2016 2017 2018 2019* 2020*

Employment Trends

Unemployment Rate Jobs Added / Lost*Projected


RENO, NV, MSA EMPLOYMENT TRENDS

The metro’s monthly unemployment was down 50 bps annually

were created metrowide, a 3.7% annual increase

2.7%

9,500 jobs

NOVEMBER2019

DECEMBER2019

RENO, NV, MSA

LARGEST EMPLOYERSWashoe County School District 8,750

Renown Medical Center 5,000

University of Nevada, Reno 4,750

Washoe County 3,000

Peppermill Reno 2,250

Grand Sierra Resort and Casino 2,250

Silver Legacy at the Row 2,250

Atlantis Casino Resort Spa 1,750

International Game Technology PLC 1,750

St. Mary's Regional Medical Center 1,750

Source: Washoe County 2019 CAFR



Named one of the “Top Mountain Towns in America,” the thriving community of Truckee draws hundreds of thousands of visitors each year with its breathtaking views, rich cultural history and sumptuous dining options. While many of the visitors stay in Truckee for its proximity to Reno, Nevada or Lake Tahoe, more and more vacationers are finding that Truckee has plenty to offer within its city limits.

Popular vacation destinations like Olympic Village, Squaw Peak, Alpine Meadows, and Northstar attract serious skiers and families with children alike. During the warmer months, nature lovers can enjoy Donner Memorial State Park and the Tahoe National Forest, both home to exciting hikes that offer memorable views of Lake Tahoe. The Truckee Cultural District is home to a long list of art galleries, museums, music venues, and creative industrial spaces. Truckee has long welcomed adventurers, artists, and risk takers, so it’s no surprise that the area continues to draw historians, musicians, poets, dramatic performers, and culinary experts.

annual visitors

225.0kNEVADACOUNTY

travel-related spending in Nevada County in 2018, a 10.4% Y-o-Y increase

$379.4mTOURISM

SPENDING

TOURISM

OLYMPIC VILLAGE



TOURISM / ATTRACTIONS

Just 30 miles Northeast of Truckee sits the iconic “Biggest Little City in the World.” Naturally, day trips and overnight stays in Reno are one of the most anticipated parts of any Truckee-Tahoe area getaway. Close to two-dozen casinos, high-end spas and salons, and exciting annual sporting events are just a few of the reasons that so many visitors include Reno on their vacation to-do list. Reno even has plenty to offer art-minded visitors and families, thanks to attractions like the Nevada Museum of Art and the National Automobile Museum.

RENO, NEVADA

5.2mAnnual Visitors in 2018

$570mGaming Economic Impact

Straddling the border of California and Nevada, Lake Tahoe and the Tahoe National Forest are among the most popular travel destinations in the United States. In fact, tourism at Lake Tahoe rivals that of other iconic national landmarks, like the Grand Canyon. The gorgeous lake is over 20 miles long and nearly 12 miles wide, offering plenty of space for fishing, boating, kayaking, and water skiing. Lake Tahoe State Park, part of the Tahoe National Forest, is a popular destination for hiking, mountain biking, and horseback riding. The Tahoe Rim Trail is especially popular with visitors in search of awe-inspiring views of Lake Tahoe.

LAKE TAHOE/TAHOE NATIONAL FOREST

3.0mAnnual Lake Visitors

1.6mAnnual National Forest Visitors



TOURISM / ATTRACTIONS

Home of the 1960 Winter Olympics, Squaw Valley is consistently rated among the 10 best ski resorts in North America. Situated roughly 15 miles south of Truckee, Squaw Valley and nearby Alpine Meadows combine for over 170 trails across 6,000 acres of trails and terrain. Backed by over 450 inches of annual snowfall, the two resorts boast one of the longest ski seasons in the continental United States, running from November to mid-May. With over 300 days of sunshine annually, nearby Olympic Valley offers year-round activities including hiking, biking, golf, electric bike tours, and aerial tram rides as part of the Squaw Alpine High Camp Experience.

SQUAW VALLEY / ALPINE MEADOWS

6,000acres of trails and terrain

170+Ski trails

For intermediate skiers looking for a suitable challenge and beginner skiers looking to push themselves to the next level, Northstar is the place to be. The resort’s relatively low elevation also shields it from heavy winds, making Northstar a great option for practiced skiers seeking out an active yet relaxing getaway. The best time to experience the resort is during the middle of the week, when the lift system isn’t too crowded with visitors from the Bay Area. An efficient snow-making operation keeps slopes covered with fresh snow, even when warmer weather limits snowfall.

NORTHSTAR CALIFORNIA

3,200acres of trails and terrain

100Ski trails



Originally founded in 1951, Tahoe Forest Health System (TFHS) remains the premier health care network in the Truckee-Lake Tahoe region, offering a full suite of hospital services including 24-hour emergency care, long-term cancer care, and home health and hospice support.

Recognized as both a rural health care facility and a designated critical access hospital, Tahoe Forest Hospital supports 25 acute care beds and 36 long-term care beds and serves the health care needs of both California and Nevada residents, spanning six counties and 3,500 square miles.

Also part of the Tahoe Forest Health System is the Incline Village Community Hospital, which serves residents of Incline Village, North Lake Tahoe, and Crystal Bay. The four-bed, critical-access facility offers 24-hour diagnostic and surgical care as well as physical therapy and health clinic services.

patients treated by TFHS Emergency Department annually

16.0kPATIENTS

SERVEDbeds at Tahoe Forest Hospital

61HOSPITAL BEDS

HEALTH CARE

TAHOE FOREST HOSPITAL



Public transportation in the Truckee-North Lake Tahoe region is provided by Tahoe Truckee Area Regional Transit (TART). Operating routes along the shore of Lake Tahoe, TART service connects visitors from Truckee proper to area destinations, including Incline Village and Squaw Valley. TART service also offers transportation to many of the area’s top resorts, including Alpine Meadows.

Reno-Tahoe International Airport (RNO) offers 65 daily nonstop flights to 21 destinations on nine commercial airlines. The airport served nearly 4.5 million passengers in 2019, the highest annual total in more than a decade. Since 2014, the number of passengers traveling through RNO has increased 35%. Delta Airlines will upgrade its seasonal flight between Reno and Atlanta to a year-round service starting on February 14, 2020.

passengers served annually

301.0kTART

passengers served in 2019, a 5.7% annual increase

4.5mRNO

AIPORT

TRANSPORTATION

RENO-TAHOE INTERNATIONAL AIRPORT

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TRUCKEE | CALIFORNIA HOSPITALITY OVERVIEW 1Q | 20