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Subsequent Events
3 Months Ended
Mar. 31, 2014
Subsequent Events  
Subsequent Events

13. Subsequent Events

 

The Company has entered into an agreement with the ground lessor of the Fairmont Newport Beach to acquire approximately seven acres of land underlying the Fairmont Newport Beach for $11.0 million. The Company expects to complete the acquisition of the leased-fee interest to the Fairmont Newport Beach during the second quarter of 2014.