ACQUISITIONS

6 Months Ended

Jun. 30, 2011

ACQUISITIONS

NOTE 3 -     ACQUISITIONS

We have made four acquisitions during the second quarter of 2011. We purchased the Homewood Suites in Ridgeland, MS on April 15, 2011 for approximately $7.3 million, the Staybridge Suites in Glendale, CO on April 27, 2011 for approximately $10.0 million, the Holiday Inn in Duluth, GA on April 27, 2011 for approximately $7.0 million, and the Hilton Garden Inn in Duluth, GA for approximately $13.4 million on May 25, 2011.  The purchases were financed with borrowings under our unsecured revolving credit facility.  We did not acquire any intangibles or assume any debt related to these four acquisitions.

The following table illustrates the allocation of the aggregated purchase prices for the purchases discussed above during 2011:

	2011
Land		5,614
Hotel buildings and improvements		31,054
Furniture, fixtures and equipment		1,032
Current assets		310
Total assets acquired		38,010
Current liabilities		296
Net assets acquired		37,714