v2.3.0.11
Supplemental Information to Statements of Cash Flows (in thousands)
 6 Months Ended
Jun. 30, 2011
Supplemental Information to Statements of Cash Flows (in thousands)  
Supplemental Information to Statements of Cash Flows (in thousands)

16.       Supplemental Information to Statements of Cash Flows (in thousands)

 

 

 

For the six months ended June 30,

 

 

 

2011

 

2010

 

 

 

 

 

 

 

Interest paid

 

$

50,908

 

$

43,531

 

 

 

 

 

 

 

Income taxes paid

 

$

1,010

 

$

844

 

 

 

 

 

 

 

Supplemental non-cash transactions:

 

 

 

 

 

In conjunction with the hotel acquisitions, the Company assumed the following assets and liabilities:

 

 

 

 

 

Purchase of real estate

 

$

204,588

 

$

130,109

 

Accounts receivable

 

457

 

118

 

Other assets

 

862

 

598

 

Advance deposits

 

(368

)

(161

)

Accounts payable and accrued expenses

 

(2,209

)

(660

)

Application of purchase deposit

 

(8,500

)

—

 

Acquisition of hotel properties

 

$

194,830

 

$

130,004

 

In conjunction with the hotel disposals, the Company disposed of the following assets and liabilities:

 

 

 

 

 

 

 

Sale of real estate

 

$

—

 

$

49,451

 

Gain on sale of property

 

 

—

 

 

23,715

 

Disposition of hotel properties

 

$

—

 

$

73,166

 

Change in fair market value of interest rate swaps

 

$

812

 

$

8,217

 

Distributions payable

 

$

8,577

 

$

—

 

Preferred distributions payable

 

$

47

 

$

—