Schedule III - Real Estate and Accumulated Depreciation

12 Months Ended

Dec. 31, 2016

SEC Schedule III, Real Estate and Accumulated Depreciation Disclosure [Abstract]

Schedule III - Real Estate and Accumulated Depreciation

			Initial Cost					Cost Capitalized Subsequent to Acquisition			Total Cost
Location	Franchise	Year  Acquired/ Constructed	Land			Building  & Improvements		Land, Building & Improvements			Land		Building  & Improvements		Total		Accumulated Depreciation			Total Cost Net of Accumulated Depreciation		Mortgage Debt
Arlington, TX	Hyatt Place	2012	$	650		$	8,405	$	1,541		$	650	$	9,946	$	10,596	$	(2,721	)	$	7,875	$	27,473	(1)
Arlington, TX	Courtyard by Marriott	2012	1,497			13,503		2,070			1,497		15,573		17,070		(2,368		)	14,702
Arlington, TX	Residence Inn by Marriott	2012	1,646			13,854		1,586			1,646		15,440		17,086		(1,866		)	15,220
Asheville, NC	Hotel Indigo	2015	2,100			32,783		1,972			2,100		34,755		36,855		(1,924		)	34,931
Atlanta, GA	Hyatt Place	2006	1,154			9,605		2,600			1,154		12,205		13,359		(3,749		)	9,610		6,588
Atlanta, GA	Courtyard by Marriott	2012	2,050			26,850		1,119			2,050		27,969		30,019		(4,934		)	25,085
Atlanta, GA	Courtyard by Marriott	2015	4,046			33,795		356			4,046		34,151		38,197		(1,799		)	36,398
Atlanta, GA	Residence Inn by Marriott	2016	3,381			34,619		201			3,381		34,820		38,201		(1,115		)	37,086
Austin, TX	Hampton Inn and Suites	2014	—		(2)	53,760		2,634			—		56,394		56,394		(4,250		)	52,144
Baltimore, MD	Hyatt Place	2012	2,100			8,135		1,664			2,100		9,799		11,899		(2,281		)	9,618		21,291		(1)
Baltimore, MD	Residence Inn by Marriott	2015	—		(2)	34,350		1,086			—		35,436		35,436		(1,863		)	33,573
Birmingham, AL	Hilton Garden Inn	2012	1,400			7,225		1,906			1,400		9,131		10,531		(2,485		)	8,046		5,046
Birmingham, AL	Hilton Garden Inn	2012	1,400			10,100		1,921			1,400		12,021		13,421		(2,404		)	11,017		5,910
Bloomington, MN	SpringHill Suites by Marriott	2007	1,658			14,071		690			1,658		14,761		16,419		(4,118		)	12,301
Bloomington, MN	Hampton Inn and Suites	2007	1,658			14,596		627			1,658		15,223		16,881		(4,409		)	12,472
Boston, MA	Hampton Inn	2015	2,000			22,000		1,922			2,000		23,922		25,922		(3,157		)	22,765
Boulder, CO	Marriott	2016	11,115			48,843		361			11,115		49,204		60,319		(800		)	59,519
Branchburg, NJ	Residence Inn by Marriott	2015	2,374			23,326		1,085			2,374		24,411		26,785		(1,316		)	25,469
Charleston, WV	Country Inn and Suites	2004	1,042			3,489		1,686			1,042		5,175		6,217		(2,140		)	4,077
Charleston, WV	Holiday Inn Express	2004	907			2,903		2,150			907		5,053		5,960		(2,351		)	3,609
Chicago, IL	Hyatt Place	2016	5,395			68,355		—			5,395		68,355		73,750		(511		)	73,239
Denver, CO	Hyatt Place	2012	1,300			9,230		2,474			1,300		11,704		13,004		(3,008		)	9,996				(1)
Denver, CO	Hyatt Place	2012	2,000			9,515		2,435			2,000		11,950		13,950		(2,903		)	11,047				(1)
Denver, CO	Hyatt House	2012	2,700			10,780		5,487			2,700		16,267		18,967		(3,419		)	15,548				(1)
Duluth, GA	Holiday Inn	2011	—		(2)	7,000		466			—		7,466		7,466		(1,896		)	5,570
Duluth, GA	Hilton Garden Inn	2011	2,200			11,150		1,544			2,200		12,694		14,894		(3,145		)	11,749				(1)
Eden Prairie, MN	Hilton Garden Inn	2013	1,800			8,400		2,811			1,800		11,211		13,011		(2,030		)	10,981
El Paso, TX	Courtyard by Marriott	2011	1,640			10,710		368			1,640		11,078		12,718		(1,920		)	10,798
Ft. Myers, FL	Hyatt Place	2009	1,878			16,583		(3,917		)	1,878		12,666		14,544		(2,425		)	12,119
Ft. Worth, TX	Hampton Inn	2007	1,500			8,184		953			1,500		9,137		10,637		(2,442		)	8,195		23,394		(1)
Ft. Worth, TX	Fairfield Inn and Suites by Marriott	2004	553			2,698		3,177			553		5,875		6,428		(2,576		)	3,852
Ft. Worth, TX	Hilton Garden Inn	2012	903			6,226		3,584			903		9,810		10,713		(2,229		)	8,484		23,889		(1)
Garden City, NY(3)	Hyatt Place	2012	4,200			26,800		975			4,200		27,775		31,975		(2,922		)	29,053
Germantown, TN	Courtyard by Marriott	2005	1,860			5,448		2,014			1,860		7,462		9,322		(2,315		)	7,007
Germantown, TN	Fairfield Inn and Suites by Marriott	2005	767			2,700		2,206			767		4,906		5,673		(1,175		)	4,498
Germantown, TN	Residence Inn by Marriott	2005	1,083			5,200		2,281			1,083		7,481		8,564		(1,981		)	6,583

			Initial Cost			Cost Capitalized Subsequent to Acquisition		Total Cost
Location	Franchise	Year  Acquired/ Constructed	Land		Building  & Improvements	Land, Building & Improvements		Land	Building  & Improvements	Total	Accumulated Depreciation		Total Cost Net of Accumulated Depreciation	Mortgage Debt
Glendale, CO	Staybridge Suites	2011	2,100		7,900	2,251		2,100	10,151	12,251	(2,541	)	9,710
Goleta, CA	Hampton Inn	2014	4,100		23,800	2,391		4,100	26,191	30,291	(2,591	)	27,700	11,303
Greenville, SC	Hilton Garden Inn	2013	1,200		14,050	516		1,200	14,566	15,766	(2,079	)	13,687		(1)
Hoffman Estates, IL	Hyatt Place	2013	1,900		7,330	1,587		1,900	8,917	10,817	(2,162	)	8,655	20,626	(1)
Houston, TX	Hilton Garden Inn	2014	—	(2)	38,492	3,346		—	41,838	41,838	(5,278	)	36,560
Houston, TX	Hilton Garden Inn	2014	2,800		33,200	577		2,800	33,777	36,577	(2,343	)	34,234	16,970
Indianapolis, IN	SpringHill Suites by Marriott	2013	4,012		26,193	1,717		4,012	27,910	31,922	(3,500	)	28,422	41,328	(1)
Indianapolis, IN	Courtyard by Marriott	2013	7,788		50,846	3,538		7,788	54,384	62,172	(6,838	)	55,334		(1)
Jackson, MS	Courtyard by Marriott	2005	1,301		7,322	2,332		1,301	9,654	10,955	(3,572	)	7,383
Jackson, MS	Staybridge Suites	2007	698		8,454	1,766		698	10,220	10,918	(2,428	)	8,490
Lombard, IL	Hyatt Place	2012	1,550		15,475	1,876		1,550	17,351	18,901	(3,831	)	15,070		(1)
Louisville, KY	Fairfield Inn and Suites by Marriott	2013	3,120		21,903	2,328		3,120	24,231	27,351	(3,814	)	23,537	36,741	(1)
Louisville, KY	SpringHill Suites by Marriott	2013	4,880		34,258	3,103		4,880	37,361	42,241	(6,295	)	35,946		(1)
Miami, FL	Hyatt House	2015	4,926		34,074	6,013		4,926	40,087	45,013	(2,819	)	42,194
Minneapolis, MN	Hyatt Place	2013	—		32,506	1,520		—	34,026	34,026	(3,955	)	30,071
Minneapolis, MN	Hampton Inn and Suites	2015	3,500		35,339	96		3,500	35,435	38,935	(3,063	)	35,872
Minnetonka, MN	Holiday Inn Express and Suites	2013	1,000		5,900	1,762		1,000	7,662	8,662	(1,556	)	7,106
Nashville, TN	SpringHill Suites by Marriott	2004	777		3,576	2,022		777	5,598	6,375	(2,672	)	3,703
Nashville, TN	Courtyard by Marriott	2016	8,792		62,869	(110	)	8,792	62,759	71,551	(2,002	)	69,549
New Orleans, LA	Courtyard by Marriott	2013	1,944		23,739	1,381		1,944	25,120	27,064	(4,768	)	22,296
New Orleans, LA	Courtyard by Marriott	2013	1,860		21,679	3,489		1,860	25,168	27,028	(4,367	)	22,661		(1)
New Orleans, LA	Courtyard by Marriott	2013	2,490		28,337	5,883		2,490	34,220	36,710	(5,759	)	30,951
New Orleans, LA	Residence Inn by Marriott	2013	1,790		18,099	5,287		1,790	23,386	25,176	(3,197	)	21,979		(1)
New Orleans, LA	SpringHill Suites by Marriott	2013	2,046		31,049	2,221		2,046	33,270	35,316	(5,165	)	30,151
Orlando, FL	Hyatt Place	2013	3,100		9,152	2,191		3,100	11,343	14,443	(3,270	)	11,173		(1)
Orlando, FL	Hyatt Place	2013	5,516		9,043	2,178		5,516	11,221	16,737	(3,226	)	13,511		(1)
Phoenix, AZ	Hyatt Place	2012	582		4,438	709		582	5,147	5,729	(1,091	)	4,638
Portland, OR	Hyatt Place	2009	—	(2)	16,713	(2,013	)	—	14,700	14,700	(2,525	)	12,175
Portland, OR	Residence Inn by Marriott	2009	—	(2)	16,409	(780	)	—	15,629	15,629	(3,300	)	12,329	18,578
Provo, UT	Hampton Inn	2004	909		2,862	2,154		909	5,016	5,925	(2,568	)	3,357
Ridgeland, MS	Residence Inn by Marriott	2007	1,050		10,040	(387	)	1,050	9,653	10,703	(1,868	)	8,835
Ridgeland, MS	Homewood Suites	2011	1,314		6,036	1,786		1,314	7,822	9,136	(1,630	)	7,506
Salt Lake City, UT	Residence Inn by Marriott	2012	2,392		17,567	7,152		2,392	24,719	27,111	(4,892	)	22,219
San Diego, CA	Hampton Inn and Suites	2013	2,300		12,850	1,878		2,300	14,728	17,028	(1,667	)	15,361		(1)
San Francisco, CA	Holiday Inn Express and Suites	2013	15,545		44,955	4,514		15,545	49,469	65,014	(8,240	)	56,774
San Francisco, CA	DoubleTree	2014	3,300		35,760	3,926		3,300	39,686	42,986	(5,342	)	37,644
San Francisco, CA	Four Points by Sheraton	2014	1,200		20,050	1,347		1,200	21,397	22,597	(3,145	)	19,452

			Initial Cost				Cost Capitalized Subsequent to Acquisition			Total Cost
Location	Franchise	Year  Acquired/ Constructed	Land		Building  & Improvements		Land, Building & Improvements			Land		Building  & Improvements		Total		Accumulated Depreciation			Total Cost Net of Accumulated Depreciation		Mortgage Debt
Sandy, UT	Holiday Inn Express and Suites	2004	720		1,768		1,437			720		3,205		3,925		(1,467		)	2,458		37,042
Scottsdale, AZ	Hyatt Place	2012	1,500		9,030		1,141			1,500		10,171		11,671		(2,458		)	9,213				(1)
Scottsdale, AZ	Courtyard by Marriott	2004	3,225		10,152		2,419			3,225		12,571		15,796		(5,352		)	10,444		8,912
Scottsdale, AZ	SpringHill Suites by Marriott	2004	2,195		7,120		2,376			2,195		9,496		11,691		(4,464		)	7,227		4,798
Smyrna, TN	Hampton Inn and Suites	2012	1,145		6,855		2,430			1,145		9,285		10,430		(1,873		)	8,557
Smyrna, TN	Hilton Garden Inn	2012	1,188		10,312		2,099			1,188		12,411		13,599		(2,263		)	11,336		7,661
Ventura, CA	Hampton Inn and Suites	2013	2,200		13,550		3,816			2,200		17,366		19,566		(2,334		)	17,232				(1)
Yrbor City, FL	Hampton Inn and Suites	2012	3,600		17,244		3,122			3,600		20,366		23,966		(2,771		)	21,195				(1)
Austin, TX	Corporate Office	2012	—		210		3,482			—		3,692		3,692		(472		)	3,220
Land Parcels			8,105		—		(2,545		)	5,560		—		5,560		—			5,560
			$	197,617	$	1,493,697	$	157,359		$	195,072	$	1,653,601	$	1,848,673	$	(241,760	)	$	1,606,913	$	317,550

(1) Properties cross-collateralize the related loan, refer to "Note 5 - Debt" in the Consolidated Financial Statements.

(2) Properties subject to ground lease, refer to "Note 9 - Commitments and Contingencies" in the Consolidated Financial Statements.

(3) Property subject to a PILOT lease, refer to "Note 9 - Commitments and Contingencies" in the Consolidated Financial Statements.

(a)ASSET BASIS

	2016			2015			2014
Reconciliation of land, buildings and improvements:
Balance at beginning of period	$	1,683,803		$	1,527,569		$	1,349,088
Additions to land, buildings and improvements	290,486			273,902			263,182
Disposition of land, buildings and improvements	(125,039		)	(116,553		)	(75,454		)
Impairment loss	(577		)	(1,115		)	(9,247		)
Balance at end of period	$	1,848,673		$	1,683,803		$	1,527,569

 (b)ACCUMULATED DEPRECIATION

	2016			2015			2014
Reconciliation of accumulated depreciation:
Balance at beginning of period	$	212,207		$	179,455		$	173,149
Depreciation	72,063			63,675			63,669
Depreciation on assets sold or disposed	(42,510		)	(30,923		)	(57,363		)
Balance at end of period	$	241,760		$	212,207		$	179,455

 (c)The aggregate cost of land, buildings, furniture and equipment for Federal income tax purposes is approximately $1,384.1 million.

(d) Depreciation is computed based upon the following useful lives:

Buildings and improvements 6-40 years

Furniture and equipment 2-15 years

(e) We have mortgages payable on the properties as noted.  Additional mortgage information can be found in "Note 5 - Debt" to the Consolidated Financial Statements.

(f) The negative balance for costs capitalized subsequent to acquisition include out-parcels sold, disposal of assets, and recorded impairment losses.

(g) The amounts presented in Schedule III exclude capitalized franchise costs that are included in Assets Held for Sale.