SCHEDULE III-REAL ESTATE AND ACCUMULATED DEPRECIATION

12 Months Ended

Dec. 31, 2011

SCHEDULE III-REAL ESTATE AND ACCUMULATED DEPRECIATION

SCHEDULE III-REAL ESTATE AND ACCUMULATED DEPRECIATION

SCHEDULE III—REAL ESTATE AND ACCUMULATED DEPRECIATION

DECEMBER 31, 2011

(In Thousands)

			Initial costs				Cost Capitalized Subsequent to Acquisition						Gross Amount at December 31, 2011 (1)
	Encmbr.		Land		Bldg. and Impr.		Land			Bldg. and Impr			Land		Bldg. and Impr.		Totals		Accum. Depr.		Date Acq./Constr.	Depr. Life
Investments in Other Real Estate
TCS—Rochester	$	1,528	$	1,600	$	—	$	—		$	8,143		$	1,600	$	8,143	$	9,743	$	2,464	1999	5-35
Office Building—Troy			2,224		2,140		(1,056		)	(802		)	1,168		1,338		2,506		401		2006	5-35
Land held for future development or sale			4,500		—		(4,312		)	—			188		—		188		—		1999	NA
	$	1,528	$	8,324	$	2,140	$	(5,368	)	$	7,341		$	2,956	$	9,481	$	12,437	$	2,865

(1)The aggregate cost of properties for federal income tax purposes is approximately $3.1 billion (unaudited) at December 31, 2011.

(2)Hotel originally acquired in 2005. Possession and control of the hotel transferred to a receiver in December 2009, and the Company reacquired the hotel in June 2010.

	Hotel Properties								Other Real Estate Investments
	2011			2010		2009			2011		2010			2009
(1)    Reconciliation of land and buildings and improvements:
Balance at the beginning of the year	$	2,239,125		$	2,082,247	$	2,079,896		$	12,253	$	14,191		$	14,436
Additions during year:
Acquisitions	727,423			137,711		—			—		—			—
Improvements	72,169			19,167		29,760			184		5			20
Impairment loss	—			—		(202,453		)	—		(1,943		)	—
Changes in reporting presentation	—			—		263,961			—		—			—
Disposals during the year	(133,742		)	—		(88,917		)	—		—			(265		)
Balance at the end of the year	$	2,904,975		$	2,239,125	$	2,082,247		$	12,437	$	12,253		$	14,191
(2)    Reconciliation of accumulated depreciation:
Balance at the beginning of the year	$	384,931		$	318,583	$	253,135		$	2,561	$	2,233		$	1,874
Depreciation for the year	79,011			66,348		77,137			304		328			359
Changes in reporting presentation	—			—		10,721			—		—			—
Retirement	(6,511		)	—		(22,410		)	—		—			—
Balance at the end of the year	$	457,431		$	384,931	$	318,583		$	2,865	$	2,561		$	2,233

(a)Hotel is pledged as collateral by the non-recourse mortgage secured by deed of trust dated April 29, 2005 with a balance at December 31, 2011 of $214,040,000.

(b)Hotel is pledged as collateral by the credit facility entered into in November 2010. As of December 31, 2011, the Company has no outstanding indebtedness under its credit facility.