Schedule III - Real Estate and Accumulated Depreciation

12 Months Ended

Dec. 31, 2017

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
Aliso Viejo, CA		Homewood Suites	2017	$	5,599		$	32,367	$	140		$	5,599	$	32,508	$	38,107	$	(1,101	)	$	37,006	$	—
Arlington, TX		Hyatt Place	2012	650			9,946		249			650		10,195		10,845		(3,313		)	7,532		—		(1)
Arlington, TX		Courtyard	2012	1,497			15,573		(98		)	1,497		15,475		16,972		(3,072		)	13,900		22,773		(1)
Arlington, TX		Residence Inn	2012	1,646			15,440		(186		)	1,646		15,254		16,900		(2,578		)	14,322		—
Asheville, NC		Hotel Indigo	2015	2,100			34,755		730			2,100		35,485		37,585		(3,476		)	34,109		—
Atlanta, GA		Courtyard	2012	2,050			27,969		96			2,050		28,065		30,115		(5,994		)	24,121		—
Atlanta, GA		Residence Inn	2016	3,381			34,820		165			3,381		34,985		38,366		(2,369		)	35,997		—
Atlanta, GA		AC Hotel	2017	5,670			51,922		159			5,670		52,081		57,751		(931		)	56,820		—
Austin, TX		Hampton Inn & Suites	2014	—		(2)	56,394		770			—		57,164		57,164		(6,610		)	50,554		—
Baltimore, MD		Hampton Inn & Suites	2017	2,205			16,013		224			2,205		16,237		18,442		(680		)	17,762		—
Baltimore, MD		Residence Inn	2017	1,986			37,016		629			1,986		37,645		39,631		(1,406		)	38,225		—
Austin, TX		Corporate Office	2017	—			6,048		—			—		6,048		6,048		(731		)	5,317		—
Birmingham, AL		Hilton Garden Inn	2012	1,400			9,131		160			1,400		9,291		10,691		(2,982		)	7,709		4,926		(1)
Birmingham, AL		Hilton Garden Inn	2012	1,400			12,021		45			1,400		12,066		13,466		(3,063		)	10,403		5,769		(1)
Bloomington, MN		SpringHill Suites	2007	1,658			14,761		34			1,658		14,795		16,453		(4,768		)	11,685		—
Bloomington, MN		Hampton Inn & Suites	2007	1,658			15,223		70			1,658		15,293		16,951		(5,202		)	11,749		—
Boulder, CO		Marriott	2016	11,115			49,204		4,011			11,115		53,215		64,330		(2,902		)	61,428		—
Branchburg, NJ		Residence Inn	2015	2,374			24,411		191			2,374		24,602		26,976		(2,503		)	24,473		—
Brisbane, CA		DoubleTree	2014	3,300			39,686		652			3,300		40,338		43,638		(7,675		)	35,963		—
Camarillo, CA		Hampton Inn & Suites	2013	2,200			17,366		109			2,200		17,475		19,675		(3,476		)	16,199		—		(1)
Charleston, WV		Country Inn & Suites	2001	1,042			5,175		23			1,042		5,198		6,240		(2,478		)	3,762		—
Charleston, WV		Holiday Inn Express	2001	907			5,053		20			907		5,073		5,980		(2,479		)	3,501		—
Charlotte, NC		Courtyard	2017	—			41,094		146			—		41,240		41,240		(894		)	40,346		—
Chicago, IL		Hyatt Place	2016	5,395			68,355		77			5,395		68,432		73,827		(3,613		)	70,214		—
Cleveland, OH		Residence Inn	2017	10,075			33,340		18			10,075		33,358		43,433		(155		)	43,278		—
Decatur, GA		Courtyard	2015	4,046			34,151		726			4,046		34,877		38,923		(3,441		)	35,482		—
Duluth, GA		Holiday Inn	2011	—		(2)	7,466		61			—		7,527		7,527		(2,132		)	5,395		—
Duluth, GA		Hilton Garden Inn	2011	2,200			12,694		129			2,200		12,823		15,023		(3,709		)	11,314		—
Eden Prairie, MN		Hilton Garden Inn	2013	1,800			11,211		85			1,800		11,296		13,096		(2,721		)	10,375		—
Englewood, CO		Hyatt Place	2012	2,000			11,950		(646		)	2,000		11,304		13,304		(2,843		)	10,461		—		(1)
Englewood, CO		Hyatt House	2012	2,700			16,267		83			2,700		16,350		19,050		(4,591		)	14,459		—		(1)
Fort Lauderdale, FL		Courtyard	2017	37,950			47,002		265			37,950		47,267		85,217		(1,481		)	83,736		—
Fort Myers, FL		Hyatt Place	2009	1,878			12,666		954			1,878		13,620		15,498		(2,840		)	12,658		—
Fort Worth, TX		Courtyard	2017	1,920			38,070		345			1,920		38,416		40,336		(1,145		)	39,191		—
Garden City, NY	(3)	Hyatt Place	2012	4,200			27,775		42			4,200		27,817		32,017		(3,874		)	28,143		—
Glendale, CO		Staybridge Suites	2011	2,100			10,151		227			2,100		10,378		12,478		(2,647		)	9,831		—

			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
Goleta, CA	Hampton Inn	2014	$	4,100		$	26,191	$	905		$	4,100	$	27,096	$	31,196	$	(3,449	)	$	27,747	$	11,019	(1)
Greenville, SC	Hilton Garden Inn	2013	1,200			14,566		2,291			1,200		16,857		18,057		(2,704		)	15,353		—		(1)
Hoffman Estates, IL	Hyatt Place	2013	1,900			8,917		44			1,900		8,961		10,861		(2,690		)	8,171		20,211		(1)
Houston, TX	Hilton Garden Inn	2014	—		(2)	41,838		406			—		42,244		42,244		(7,143		)	35,101		—
Houston, TX	Hilton Garden Inn	2014	2,800			33,777		775			2,800		34,552		37,352		(3,496		)	33,856		16,431		(1)
Hunt Valley, MD	Residence Inn	2015	—		(2)	35,436		105			—		35,541		35,541		(3,421		)	32,120		—
Indianapolis, IN	SpringHill Suites	2013	4,012			27,910		88			4,012		27,998		32,010		(4,251		)	27,759		40,015		(1)
Indianapolis, IN	Courtyard	2013	7,788			54,384		(659		)	7,788		53,725		61,513		(8,158		)	53,355		—		(1)
Kansas City, MO	Courtyard	2017	3,955			20,608		286			3,955		20,894		24,849		(582		)	24,267		—
Lombard, IL	Hyatt Place	2012	1,550			17,351		61			1,550		17,412		18,962		(4,695		)	14,267		26,928		(1)
Lone Tree, CO	Hyatt Place	2012	1,300			11,704		85			1,300		11,789		13,089		(3,700		)	9,389		—		(1)
Louisville, KY	Fairfield Inn & Suites	2013	3,120			24,231		73			3,120		24,304		27,424		(5,005		)	22,419		36,093		(1)
Louisville, KY	SpringHill Suites	2013	4,880			37,361		283			4,880		37,644		42,524		(8,095		)	34,429		—		(1)
Mesa, AZ	Hyatt Place	2017	2,400			19,848		312			2,400		20,160		22,560		(1,147		)	21,413		—		(1)
Metairie, LA	Courtyard	2013	1,860			25,168		139			1,860		25,307		27,167		(5,607		)	21,560		—		(1)
Metairie, LA	Residence Inn	2013	1,791			23,386		93			1,791		23,479		25,270		(4,804		)	20,466		—		(1)
Miami, FL	Hyatt House	2015	4,926			40,087		147			4,926		40,234		45,160		(3,417		)	41,743		—
Minneapolis, MN	Hyatt Place	2013	—			34,026		491			—		34,517		34,517		(5,326		)	29,191		—
Minneapolis, MN	Hampton Inn & Suites	2015	3,502			35,433		19			3,502		35,452		38,954		(4,690		)	34,264		—
Minnetonka, MN	Holiday Inn Express & Suites	2013	1,000			7,662		107			1,000		7,769		8,769		(1,998		)	6,771		—
Nashville, TN	SpringHill Suites	2004	777			5,598		146			777		5,744		6,521		(3,143		)	3,378		—
Nashville, TN	Courtyard	2016	8,792			62,759		281			8,792		63,040		71,832		(4,297		)	67,535		—
New Haven, CT	Courtyard	2017	11,990			51,497		3			11,990		51,500		63,490		(173		)	63,317		—
New Orleans, LA	Courtyard	2013	1,944			25,120		3,382			1,944		28,502		30,446		(6,059		)	24,387		—
New Orleans, LA	Courtyard	2013	2,490			34,220		337			2,490		34,557		37,047		(7,752		)	29,295		—
New Orleans, LA	SpringHill Suites	2013	2,046			33,270		6,769			2,046		40,039		42,085		(6,644		)	35,441		23,130		(1)
Norwood, MA	Hampton Inn	2015	2,000			23,922		(853		)	2,000		23,069		25,069		(2,548		)	22,521		—
Orlando, FL	Hyatt Place	2013	3,100			11,343		134			3,100		11,477		14,577		(3,893		)	10,684		—		(1)
Orlando, FL	Hyatt Place	2013	2,716			11,221		140			2,716		11,361		14,077		(3,838		)	10,239		—		(1)
Orlando, FL	Hyatt House		2,800			20,993		—			2,800		20,993		23,793		—			23,793		—
Owings Mills, MD	Hyatt Place	2012	2,100			9,799		(481		)	2,100		9,318		11,418		(2,298		)	9,120		20,877		(1)
Phoenix, AZ	Hyatt Place	2012	582			5,147		(141		)	582		5,006		5,588		(1,071		)	4,517		—
Pittsburgh, PA	Courtyard	2017	1,652			40,749		211			1,652		40,960		42,612		(875		)	41,737		—
Portland, OR	Hyatt Place	2009	—		(2)	14,700		15			—		14,715		14,715		(3,187		)	11,528		—
Portland, OR	Residence Inn	2009	—		(2)	15,629		111			—		15,740		15,740		(4,088		)	11,652		18,046		(1)
Poway, CA	Hampton Inn & Suites	2013	2,300			14,728		1,041			2,300		15,769		18,069		(2,059		)	16,010		—		(1)
Provo, UT	Hampton Inn	1996	909			5,016		31			909		5,047		5,956		(2,782		)	3,174		—

			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
Salt Lake City, UT	Residence Inn	2012	$	2,392	$	24,719	$	247		$	2,392	$	24,966	$	27,358	$	(6,254	)	$	21,104	$	47,640	(1)
San Francisco, CA	Holiday Inn Express & Suites	2013	15,545		49,469		1,317			15,545		50,786		66,331		(10,654		)	55,677		—
San Francisco, CA	Four Points	2014	1,200		21,397		102			1,200		21,499		22,699		(4,317		)	18,382		—		(1)
Sandy, UT	Holiday Inn Express & Suites	1998	720		3,205		46			720		3,251		3,971		(1,708		)	2,263		35,865		(1)
Scottsdale, AZ	Hyatt Place	2012	1,500		10,171		(636		)	1,500		9,535		11,035		(2,242		)	8,793		—		(1)
Scottsdale, AZ	Courtyard	2003	3,225		12,571		358			3,225		12,929		16,154		(5,740		)	10,414		8,701		(1)
Scottsdale, AZ	SpringHill Suites	2003	2,195		9,496		134			2,195		9,630		11,825		(4,784		)	7,041		4,685		(1)
Smyrna, TN	Hampton Inn & Suites	2012	1,145		9,285		96			1,145		9,381		10,526		(2,563		)	7,963		—
Smyrna, TN	Hilton Garden Inn	2012	1,188		12,411		239			1,188		12,650		13,838		(2,938		)	10,900		—
Tampa, FL	Hampton Inn & Suites	2012	3,600		20,366		335			3,600		20,701		24,301		(3,614		)	20,687		—		(1)
Tucson, AZ	Homewood Suites	2017	2,570		22,802		22			2,570		22,824		25,394		(118		)	25,276		—
Waltham, MA	Hilton Garden Inn	2017	10,644		21,713		26			10,644		21,739		32,383		(174		)	32,209		—
Land Parcels	Land Parcels		8,105		—		(2,545		)	5,559		—		5,559		—			5,559		—
			$	282,413	$	2,045,686	$	27,623		$	279,867	$	2,075,856	$	2,355,723	$	(290,066	)	$	2,065,657	$	343,109

(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

	2017			2016			2015
Reconciliation of land, buildings and improvements:
Balance at beginning of period	$	1,848,673		$	1,683,803		$	1,527,569
Additions to land, buildings and improvements	636,389			290,486			273,902
Disposition of land, buildings and improvements	(129,339		)	(125,039		)	(116,553		)
Impairment loss	—			(577		)	(1,115		)
Balance at end of period	$	2,355,723		$	1,848,673		$	1,683,803

 (b)ACCUMULATED DEPRECIATION

	2017			2016			2015
Reconciliation of accumulated depreciation:
Balance at beginning of period	$	241,760		$	212,207		$	179,455
Depreciation	85,524			72,063			63,675
Depreciation on assets sold or disposed	(37,218		)	(42,510		)	(30,923		)
Balance at end of period	$	290,066		$	241,760		$	212,207

 (c)The aggregate cost of land, buildings, furniture and equipment for Federal income tax purposes is approximately $2,137.1 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.