Schedule III - Real Estate and Accumulated Depreciation

12 Months Ended

Dec. 31, 2018

SEC Schedule, 12-28, Real Estate Companies, Investment in 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	$	307		$	5,599	$	32,674	$	38,273	$	(2,606	)	$	35,667	$	—
Arlington, TX		Hyatt Place	2012	650			9,946		(135		)	650		9,811		10,461		(3,277		)	7,184		—		(1)
Arlington, TX		Courtyard	2012	1,497			15,573		(43		)	1,497		15,530		17,027		(3,748		)	13,279		22,151		(1)
Arlington, TX		Residence Inn	2012	1,646			15,440		(47		)	1,646		15,393		17,039		(3,322		)	13,717		—
Asheville, NC		Hotel Indigo	2015	2,100			34,755		982			2,100		35,737		37,837		(5,093		)	32,744		—
Atlanta, GA		Courtyard	2012	2,050			27,969		174			2,050		28,143		30,193		(6,701		)	23,492		—
Atlanta, GA		Residence Inn	2016	3,381			34,820		328			3,381		35,148		38,529		(3,635		)	34,894		—
Atlanta, GA		AC Hotel	2017	5,670			51,922		437			5,670		52,359		58,029		(3,197		)	54,832		—
Austin, TX		Hampton Inn & Suites	2014	—		(2)	56,394		1,054			—		57,448		57,448		(9,017		)	48,431		—
Austin, TX		Corporate Office	2017	—			6,048		200			—		6,248		6,248		(1,417		)	4,831		—
Baltimore, MD		Hampton Inn & Suites	2017	2,205			16,013		822			2,205		16,835		19,040		(1,983		)	17,057		—
Baltimore, MD		Residence Inn	2017	1,986			37,016		5,767			1,986		42,783		44,769		(2,122		)	42,647		—
Birmingham, AL		Hilton Garden Inn	2012	1,400			9,131		(237		)	1,400		8,894		10,294		(2,886		)	7,408		—
Birmingham, AL		Hilton Garden Inn	2012	1,400			12,021		241			1,400		12,262		13,662		(3,654		)	10,008		—
Bloomington, MN		SpringHill Suites	2007	1,658			14,761		78			1,658		14,839		16,497		(5,414		)	11,083		—
Bloomington, MN		Hampton Inn & Suites	2007	1,658			15,223		164			1,658		15,387		17,045		(5,956		)	11,089		—
Boulder, CO		Marriott	2016	11,115			49,204		7,627			11,115		56,831		67,946		(4,190		)	63,756		—
Branchburg, NJ		Residence Inn	2015	2,374			24,411		253			2,374		24,664		27,038		(3,646		)	23,392		—
Brisbane, CA		DoubleTree	2014	3,300			39,686		814			3,300		40,500		43,800		(9,144		)	34,656		—
Camarillo, CA		Hampton Inn & Suites	2013	2,200			17,366		214			2,200		17,580		19,780		(4,617		)	15,163		—		(1)
Charleston, WV		Country Inn & Suites	2001	1,042			5,175		64			1,042		5,239		6,281		(2,680		)	3,601		—
Charleston, WV		Holiday Inn Express	2001	907			5,053		143			907		5,196		6,103		(2,627		)	3,476		—
Charlotte, NC		Courtyard	2017	—			41,094		1,303			—		42,397		42,397		(2,703		)	39,694		—
Chicago, IL		Hyatt Place	2016	5,395			68,355		155			5,395		68,510		73,905		(6,722		)	67,183		—
Cleveland, OH		Residence Inn	2017	10,075			33,340		1,128			10,075		34,468		44,543		(2,042		)	42,501		—
Decatur, GA		Courtyard	2015	4,046			34,151		3,636			4,046		37,787		41,833		(4,077		)	37,756		—
Eden Prairie, MN		Hilton Garden Inn	2013	1,800			11,211		187			1,800		11,398		13,198		(3,430		)	9,768		—
Englewood, CO		Hyatt Place	2012	2,000			11,950		(561		)	2,000		11,389		13,389		(3,491		)	9,898		—		(1)
Englewood, CO		Hyatt House	2012	2,700			16,267		260			2,700		16,527		19,227		(5,761		)	13,466		—		(1)
Fort Lauderdale, FL		Courtyard	2017	37,950			47,002		583			37,950		47,585		85,535		(3,745		)	81,790		—
Fort Worth, TX		Courtyard	2017	1,920			38,070		2,112			1,920		40,182		42,102		(3,480		)	38,622		—
Garden City, NY	(3)	Hyatt Place	2012	4,200			27,775		110			4,200		27,885		32,085		(4,829		)	27,256		—
Glendale, CO		Staybridge Suites	2011	2,100			10,151		345			2,100		10,496		12,596		(3,193		)	9,403		—
Goleta, CA		Hampton Inn	2014	4,100			26,191		1,033			4,100		27,224		31,324		(4,675		)	26,649		10,717		(1)
Greenville, SC		Hilton Garden Inn	2013	1,200			14,566		2,938			1,200		17,504		18,704		(2,700		)	16,004		—
Hoffman Estates, IL		Hyatt Place	2013	1,900			8,917		232			1,900		9,149		11,049		(3,217		)	7,832		19,777		(1)

			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
Houston, TX	Hilton Garden Inn	2014	$	—	(2)	$	41,838	$	699		$	—	$	42,537	$	42,537	$	(8,971	)	$	33,566	$	—
Houston, TX	Hilton Garden Inn	2014	2,800			33,777		1,068			2,800		34,845		37,645		(4,751		)	32,894		—
Hunt Valley, MD	Residence Inn	2015	—		(2)	35,436		146			—		35,582		35,582		(4,941		)	30,641		—
Indianapolis, IN	SpringHill Suites	2013	4,012			27,910		154			4,012		28,064		32,076		(5,417		)	26,659		—
Indianapolis, IN	Courtyard	2013	7,788			54,384		(541		)	7,788		53,843		61,631		(10,279		)	51,352		—
Kansas City, MO	Courtyard	2017	3,955			20,608		1,023			3,955		21,631		25,586		(1,589		)	23,997		—
Lombard, IL	Hyatt Place	2012	1,550			17,351		(495		)	1,550		16,856		18,406		(4,901		)	13,505		26,357		(1)
Lone Tree, CO	Hyatt Place	2012	1,300			11,704		(290		)	1,314		11,400		12,714		(3,711		)	9,003		—		(1)
Louisville, KY	Fairfield Inn & Suites	2013	3,120			24,231		288			3,120		24,519		27,639		(6,053		)	21,586		35,411		(1)
Louisville, KY	SpringHill Suites	2013	4,880			37,361		796			4,880		38,157		43,037		(9,661		)	33,376		—		(1)
Mesa, AZ	Hyatt Place	2017	2,400			19,848		461			2,400		20,309		22,709		(2,678		)	20,031		—		(1)
Metairie, LA	Courtyard	2013	1,860			25,168		262			1,860		25,430		27,290		(6,740		)	20,550		—
Metairie, LA	Residence Inn	2013	1,791			23,386		275			1,791		23,661		25,452		(6,358		)	19,094		—
Miami, FL	Hyatt House	2015	4,926			40,087		553			4,926		40,640		45,566		(5,900		)	39,666		—
Minneapolis, MN	Hyatt Place	2013	—			34,026		1,078			—		35,104		35,104		(6,886		)	28,218		—
Minneapolis, MN	Hampton Inn & Suites	2015	3,502			35,433		90			3,502		35,523		39,025		(6,216		)	32,809		—
Minnetonka, MN	Holiday Inn Express & Suites	2013	1,000			7,662		194			1,000		7,856		8,856		(2,268		)	6,588		—
Nashville, TN	SpringHill Suites	2004	777			5,598		354			777		5,952		6,729		(3,313		)	3,416		—
Nashville, TN	Courtyard	2016	8,792			62,759		4,188			8,792		66,947		75,739		(6,642		)	69,097		—
New Haven, CT	Courtyard	2017	11,990			51,497		1,255			11,990		52,752		64,742		(2,265		)	62,477		—
New Orleans, LA	Courtyard	2013	1,944			25,120		3,255			1,944		28,375		30,319		(7,266		)	23,053		—
New Orleans, LA	Courtyard	2013	2,490			34,220		615			2,490		34,835		37,325		(9,720		)	27,605		—
New Orleans, LA	SpringHill Suites	2013	2,046			33,270		6,042			2,046		39,312		41,358		(8,096		)	33,262		—
Norwood, MA	Hampton Inn	2015	2,000			23,922		(743		)	2,000		23,179		25,179		(3,838		)	21,341		—
Orlando, FL	Hyatt Place	2013	3,100			11,343		(689		)	3,100		10,654		13,754		(3,465		)	10,289		—		(1)
Orlando, FL	Hyatt Place	2013	2,716			11,221		848			2,716		12,069		14,785		(4,383		)	10,402		—		(1)
Orlando, FL	Hyatt House	2018	2,800			34,423		7			2,800		34,430		37,230		(1,170		)	36,060		—		(1)
Owings Mills, MD	Hyatt Place	2012	2,100			9,799		(395		)	2,100		9,404		11,504		(2,845		)	8,659		20,445		(1)
Pittsburgh, PA	Courtyard	2017	1,652			40,749		3,805			1,652		44,554		46,206		(2,507		)	43,699		—
Portland, OR	Hyatt Place	2009	—		(2)	14,700		71			—		14,771		14,771		(3,849		)	10,922		—
Portland, OR	Residence Inn	2009	—		(2)	15,629		200			—		15,829		15,829		(4,836		)	10,993		17,513		(1)
Poway, CA	Hampton Inn & Suites	2013	2,300			14,728		1,161			2,300		15,889		18,189		(2,988		)	15,201		—		(1)
Salt Lake City, UT	Residence Inn	2012	2,392			24,719		(234		)	2,392		24,485		26,877		(7,036		)	19,841		47,640		(1)
San Francisco, CA	Holiday Inn Express & Suites	2013	15,545			49,469		3,570			15,545		53,039		68,584		(10,372		)	58,212		—
San Francisco, CA	Four Points	2014	1,200			21,397		2,798			1,200		24,195		25,395		(5,437		)	19,958		—		(1)
Scottsdale, AZ	Hyatt Place	2012	1,500			10,171		(541		)	1,500		9,630		11,130		(2,691		)	8,439		—		(1)
Scottsdale, AZ	Courtyard	2003	3,225			12,571		3,588			3,225		16,159		19,384		(4,622		)	14,762		—

			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
Scottsdale, AZ	SpringHill Suites	2003	$	2,195	$	9,496	$	1,763		$	2,195	$	11,259	$	13,454	$	(3,484	)	$	9,970	$	—
Tampa, FL	Hampton Inn & Suites	2012	3,600		20,366		484			3,600		20,850		24,450		(4,456		)	19,994		—
Tucson, AZ	Homewood Suites	2017	2,570		22,802		718			2,570		23,520		26,090		(1,522		)	24,568		—
Waltham, MA	Hilton Garden Inn	2017	10,644		21,713		4,978			10,644		26,691		37,335		(2,187		)	35,148		—
Watertown, MA	Residence Inn	2018	25,083		45,917		71			25,083		45,988		71,071		(514		)	70,557		—
Land Parcels	Land Parcels		4,645		—		(1,886		)	2,759		—		2,759		—			2,759		—
			$	295,414	$	2,037,143	$	73,712		$	293,542	$	2,112,727	$	2,406,269	$	(351,821	)	$	2,054,448	$	200,011

(1) Properties cross-collateralize the related loan, refer to "Note 6 - Debt" in the Consolidated Financial Statements.

(2) Properties subject to ground lease, refer to "Note 10 - Commitments and Contingencies" in the Consolidated Financial Statements.

(3) Property subject to a PILOT lease, refer to "Note 10 - Commitments and Contingencies" in the Consolidated Financial Statements.

(a)ASSET BASIS

	2018			2017			2016
Reconciliation of land, buildings and improvements:
Balance at beginning of period	$	2,355,723		$	1,848,673		$	1,683,803
Additions to land, buildings and improvements	151,829			636,389			290,486
Disposition of land, buildings and improvements	(100,208		)	(129,339		)	(125,039		)
Impairment loss	(1,075		)	—			(577		)
Balance at end of period	$	2,406,269		$	2,355,723		$	1,848,673

 (b)ACCUMULATED DEPRECIATION

	2018			2017			2016
Reconciliation of accumulated depreciation:
Balance at beginning of period	$	290,066		$	241,760		$	212,207
Depreciation	100,545			85,524			72,063
Depreciation on assets sold or disposed	(38,790		)	(37,218		)	(42,510		)
Balance at end of period	$	351,821		$	290,066		$	241,760

 (c)The aggregate cost of land, buildings, furniture and equipment for Federal income tax purposes is approximately $2,210.1 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 6 - 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.