DiamondRock Hospitality Company

Schedule III - Real Estate and Accumulated Depreciation

As of December 31, 2016 (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	$	1,282		$	3,623	$	34,785	$	38,408	$	(9,894	)	$	28,514	2005	40 Years
Bethesda Marriott Suites	—			—		45,656		1,914			—		47,570		47,570		(14,265		)	33,305		2004	40 Years
Boston Westin Waterfront	(201,470		)	—		273,696		23,019			—		296,715		296,715		(72,872		)	223,843		2007	40 Years
Chicago Marriott Downtown	—			36,900		347,921		58,121			36,900		406,042		442,942		(99,411		)	343,531		2006	40 Years
The Gwen Chicago	—			31,650		76,961		7,880			31,650		84,841		116,491		(20,138		)	96,353		2006	40 Years
Courtyard Denver	—			9,400		36,180		1,548			9,400		37,728		47,128		(5,057		)	42,071		2011	40 Years
Courtyard Manhattan/Fifth Avenue	—			—		34,685		3,999			—		38,684		38,684		(11,292		)	27,392		2004	40 Years
Courtyard Manhattan/Midtown East	(85,451		)	16,500		54,812		4,165			16,500		58,977		75,477		(17,222		)	58,255		2004	40 Years
Frenchman's Reef & Morning Star Marriott Beach Resort	—			17,713		50,697		49,494			17,713		100,191		117,904		(24,039		)	93,865		2005	40 Years
Hilton Boston Downtown	—			23,262		128,628		11,794			23,262		140,422		163,684		(14,961		)	148,723		2012	40 Years
Hilton Burlington	—			9,197		40,644		1,985			9,197		42,629		51,826		(4,762		)	47,064		2012	40 Years
Hilton Garden Inn/New York Times Square Central	—			60,300		88,896		182			60,300		89,078		149,378		(5,199		)	144,179		2014	40 Years
Hotel Rex	—			7,856		21,085		(54		)	7,856		21,031		28,887		(2,174		)	26,713		2012	40 Years
Inn at Key West	—			32,888		13,371		225			32,888		13,596		46,484		(1,000		)	45,484		2014	40 Years
JW Marriott Denver	(64,579		)	9,200		63,183		1,445			9,200		64,628		73,828		(8,996		)	64,832		2011	40 Years
Lexington Hotel New York	(170,368		)	92,000		229,368		16,532			92,000		245,900		337,900		(32,904		)	304,996		2011	40 Years
Renaissance Charleston	—			5,900		32,511		976			5,900		33,487		39,387		(5,260		)	34,127		2010	40 Years
Renaissance Worthington	(85,000		)	15,500		63,428		14,021			15,500		77,449		92,949		(18,982		)	73,967		2005	40 Years
Salt Lake City Marriott Downtown	(58,331		)	—		45,815		4,088			855		49,048		49,903		(14,445		)	35,458		2004	40 Years
Sheraton Suites Key West	—			49,592		42,958		148			49,592		43,106		92,698		(1,694		)	91,004		2015	40 Years
Shorebreak Hotel	—			19,908		37,525		691			19,908		38,216		58,124		(1,819		)	56,305		2015	40 Years
The Lodge at Sonoma, a Renaissance Resort and Spa	(28,896		)	3,951		22,720		1,164			3,951		23,884		27,835		(10,033		)	17,802		2004	40 Years
Westin Fort Lauderdale Beach Resort	—			54,293		83,227		1,435			54,293		84,662		138,955		(4,401		)	134,554		2014	40 Years
Westin San Diego	(66,276		)	22,902		95,617		6,935			22,902		102,552		125,454		(11,167		)	114,287		2012	40 Years
Westin Washington, D.C City Center	(66,848		)	24,579		122,229		10,484			24,579		132,713		157,292		(14,286		)	143,006		2012	40 Years
Vail Marriott Mountain Resort & Spa	—			5,800		52,463		3,468			5,800		55,931		61,731		(15,679		)	46,052		2005	40 Years
Total	$	(827,219	)	$	552,914	$	2,137,779	$	226,941		$	553,769	$	2,363,865	$	2,917,634	$	(441,952	)	$	2,475,682

Notes:

A) The change in total cost of properties for the fiscal years ended December 31, 2016, 2015 and 2014 is as follows:



Balance at December 31, 2013	$	2,724,617
Additions:
Acquisitions	332,975
Capital expenditures	26,831
Deductions:
Dispositions and other	(140,320		)
Balance at December 31, 2014	$	2,944,103
Additions:
Acquisitions	$	149,983
Capital expenditures	30,965
Deductions:
Dispositions and other	—
Balance at December 31, 2015	$	3,125,051
Additions:
Acquisitions	—
Capital expenditures	61,823
Deductions:
Dispositions and other	(269,240		)
Balance at December 31, 2016	$	2,917,634

B) The change in accumulated depreciation of real estate assets for the fiscal years ended December 31, 2016, 2015 and 2014 is as follows:



Balance at December 31, 2013	$	324,913
Depreciation and amortization	59,965
Dispositions and other	(11,312		)
Balance at December 31, 2014	355,462
Depreciation and amortization	63,847
Dispositions and other	—
Balance at December 31, 2015	419,309
Depreciation and amortization	65,490
Dispositions and other	(42,847		)
Balance at December 31, 2016	$	441,952

C) The aggregate cost of properties for Federal income tax purposes (in thousands) is approximately $2,791,802 as of December 31, 2016.