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Investment in Hotel Properties

6 Months Ended

Jun. 30, 2011

Investment in Hotel Properties

Investment in Hotel Properties

5. Investment in Hotel Properties

Investment in hotel properties as of June 30, 2011 and December 31, 2010 consisted of the following (in thousands):

		June 30,			December 31,
		2011			2010
Land and land improvements		$	517,162		$	488,031
Buildings and improvements		2,344,752			2,188,153
Furniture, fixtures and equipment		355,347			310,266
Intangibles		1,298			1,298
		3,218,559			2,987,748
Accumulated depreciation and amortization		(424,927		)	(361,058		)
Investment in hotel properties, net		$	2,793,632		$	2,626,690

For the three and six months ended June 30, 2011, depreciation and amortization expense related to investment in hotel properties was approximately $31.4 million and $63.8 million (excluding discontinued operations), respectively.  For the three and six months ended June 30, 2010, depreciation and amortization expense related to investment in hotel properties was approximately $24.0 million and $47.4 million (excluding discontinued operations), respectively.

Impairment

During each of the three and six month periods ended June 30, 2011 and 2010, the Company determined there was no impairment on its investment in hotels.

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- Definition

The entire disclosure for long-lived, physical assets that are used in the normal conduct of business to produce goods and services and not intended for resale. Examples include land, buildings, machinery and equipment, and other types of furniture and equipment including, but not limited to, office equipment, furniture and fixtures, and computer equipment and software. This disclosure may include property plant and equipment accounting policies and methodology, a schedule of property, plant and equipment gross, additions, deletions, transfers and other changes, depreciation, depletion and amortization expense, net, accumulated depreciation, depletion and amortization expense and useful lives, income statement disclosures, assets held for sale and public utility disclosures.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=6360339&loc=d3e1361-107760

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02.13-14)
-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher AICPA
-Name Accounting Principles Board Opinion (APB)
-Number 12
-Paragraph 5
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 360
-SubTopic 10
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=6391035&loc=d3e2868-110229

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 360
-SubTopic 10
-Section 50
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=6391110&loc=d3e2921-110230

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