DiamondRock Hospitality Company

Schedule III - Real Estate and Accumulated Depreciation

As of December 31, 2013 (in thousands)



								Costs
				Initial Cost				Capitalized			Gross Amount at End of Year
						Building and		Subsequent to					Building and				Accumulated			Net Book		Year of	Depreciation
Description	Encumbrances			Land		Improvements		Acquisition			Land		Improvements		Total		Depreciation			Value		Acquisition	Life
Atlanta Alpharetta Marriott	$	—		$	3,623	$	33,503	$	860		$	3,623	$	34,363	$	37,986	$	(7,297	)	$	30,689	2005	40 Years
Bethesda Marriott Suites	—			—		45,656		1,738			—		47,394		47,394		(10,646		)	36,748		2004	40 Years
Boston Westin Waterfront	—			—		273,696		18,097			—		291,793		291,793		(50,214		)	241,579		2007	40 Years
Chicago Marriott Downtown	(208,417		)	36,900		347,921		18,620			36,900		366,541		403,441		(70,416		)	333,025		2006	40 Years
Conrad Chicago	—			31,650		76,961		3,536			31,650		80,497		112,147		(14,013		)	98,134		2006	40 Years
Courtyard Denver	—			9,400		36,180		371			9,400		36,551		45,951		(2,242		)	43,709		2011	40 Years
Courtyard Manhattan/Fifth Avenue	(49,591		)	—		34,685		2,450			—		37,135		37,135		(8,368		)	28,767		2004	40 Years
Courtyard Manhattan/Midtown East	(41,530		)	16,500		54,812		2,244			16,500		57,056		73,556		(12,797		)	60,759		2004	40 Years
Frenchman's Reef & Morning Star Marriott Beach Resort	(57,671		)	17,713		50,697		46,011			17,713		96,708		114,421		(13,508		)	100,913		2005	40 Years
Hilton Boston Downtown	—			23,262		128,628		1,526			23,262		130,154		153,416		(4,741		)	148,675		2012	40 Years
Hilton Burlington	—			9,197		40,644		465			9,197		41,109		50,306		(1,517		)	48,789		2012	40 Years
Hilton Garden Inn Chelsea/New York City	—			14,800		51,458		386			14,800		51,844		66,644		(4,284		)	62,360		2010	40 Years
Hilton Minneapolis	(94,874		)	—		129,640		576			—		130,216		130,216		(11,516		)	118,700		2010	40 Years
Hotel Rex	—			7,856		21,085		(104		)	7,856		20,981		28,837		(595		)	28,242		2012	40 Years
JW Marriott Denver	(39,692		)	9,200		63,183		1,045			9,200		64,228		73,428		(4,149		)	69,279		2011	40 Years
Lexington Hotel New York	(170,368		)	92,000		229,368		1,463			92,000		230,831		322,831		(14,832		)	307,999		2011	40 Years
Los Angeles Airport Marriott	(82,600		)	24,100		83,077		7,274			24,100		90,351		114,451		(19,165		)	95,286		2005	40 Years
Oak Brook Hills Resort Chicago	—			9,500		39,128		(23,358		)	9,500		15,770		25,270		(8,179		)	17,091		2005	40 Years
Orlando Airport Marriott	(56,778		)	9,769		57,803		3,728			9,769		61,531		71,300		(12,231		)	59,069		2005	40 Years
Renaissance Charleston	—			5,900		32,511		445			5,900		32,956		38,856		(2,761		)	36,095		2010	40 Years
Renaissance Worthington	(53,804		)	15,500		63,428		2,895			15,500		66,323		81,823		(13,759		)	68,064		2005	40 Years
Salt Lake City Marriott Downtown	(62,771		)	—		45,815		2,957			855		48,772		49,627		(10,743		)	38,884		2004	40 Years
The Lodge at Sonoma, a Renaissance Resort and Spa	(30,607		)	3,951		22,720		565			3,951		23,285		27,236		(7,460		)	19,776		2004	40 Years
Westin San Diego	(70,194		)	22,902		95,617		863			22,902		96,480		119,382		(3,510		)	115,872		2012	40 Years
Westin Washington, D.C City Center	(72,421		)	24,579		122,229		249			24,579		122,478		147,057		(4,470		)	142,587		2012	40 Years
Vail Marriott Mountain Resort & Spa	—			5,800		52,463		1,850			5,800		54,313		60,113		(11,500		)	48,613		2005	40 Years
Total	$	(1,091,318	)	$	394,102	$	2,232,908	$	96,752		$	394,957	$	2,329,660	$	2,724,617	$	(324,913	)	$	2,399,704

Notes:

A) The change in total cost of properties for the fiscal years ended December 31, 2013, 2012 and 2011 is as follows:



Balance at December 31, 2010	$	2,152,921
Additions:
Acquisitions	439,338
Capital expenditures	31,082

Balance at December 31, 2011	$	2,623,341
Additions:
Acquisitions	$	495,999
Capital expenditures	12,756
Deductions:
Dispositions and other	(333,545		)
Impairment	(27,711		)

Balance at December 31, 2012	$	2,770,840
Additions:
Capital expenditures	$	15,089
Deductions:
Dispositions and other	(61,312		)

Balance at December 31, 2013	$	2,724,617

B) The change in accumulated depreciation of real estate assets for the fiscal years ended December 31, 2013, 2012 and 2011 is as follows:



Balance at December 31, 2010	$	208,741
Depreciation and amortization	53,518

Balance at December 31, 2011	262,259
Depreciation and amortization	90,893
Dispositions and other	(76,320		)

Balance at December 31, 2012	276,832
Depreciation and amortization	59,393
Dispositions and other	(11,312		)

Balance at December 31, 2013	$	324,913

C) The aggregate cost of properties for Federal income tax purposes (in thousands) is approximately $2,643,187 as of December 31, 2013.