Schedule III - Real Estate and Accumulated Depreciation

12 Months Ended

Dec. 31, 2021

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	$	480	$	5,599	$	32,847	$	38,446	$	(6,897)	$	31,549	$	—
Arlington, TX	Courtyard	2012	1,497			15,573		(412)		1,497		15,161		16,658		(5,114)		11,544		—
Arlington, TX	Residence Inn	2012	1,646			15,440		92		1,646		15,532		17,178		(5,124)		12,054		—
Asheville, NC	Hotel Indigo	2015	2,100			34,755		1,266		2,100		36,021		38,121		(9,546)		28,575		—
Atlanta, GA	Courtyard	2012	2,050			27,969		3,221		2,050		31,190		33,240		(8,168)		25,072		—
Atlanta, GA	Residence Inn	2016	3,381			34,820		1,528		3,381		36,348		39,729		(6,971)		32,758		—
Atlanta, GA	AC Hotel	2017	5,670			51,922		747		5,670		52,669		58,339		(9,746)		48,593		—
Austin, TX	Hampton Inn & Suites	2014	—		(2)	56,394		4,553		—		60,947		60,947		(13,564)		47,383		—
Austin, TX	Corporate Office	2017	—			6,048		340		—		6,388		6,388		(2,531)		3,857		—
Baltimore, MD	Hampton Inn & Suites	2017	2,205			16,013		5,590		2,205		21,603		23,808		(3,853)		19,955		—
Baltimore, MD	Residence Inn	2017	1,986			37,016		6,604		1,986		43,620		45,606		(9,016)		36,590		—
Boulder, CO	Marriott	2016	11,115			49,204		9,177		11,115		58,381		69,496		(12,789)		56,707		—
Branchburg, NJ	Residence Inn	2015	2,374			24,411		93		2,374		24,504		26,878		(6,570)		20,308		—
Brisbane, CA	DoubleTree	2014	3,300			39,686		1,293		3,300		40,979		44,279		(15,857)		28,422		—
Camarillo, CA	Hampton Inn & Suites	2013	2,200			17,366		607		2,200		17,973		20,173		(7,689)		12,484		—
Charlotte, NC	Courtyard	2017	—			41,094		1,917		—		43,011		43,011		(8,354)		34,657		—
Chicago, IL	Hyatt Place	2016	5,395			68,355		269		5,395		68,624		74,019		(15,022)		58,997		—
Cleveland, OH	Residence Inn	2017	10,075			33,340		2,081		10,075		35,421		45,496		(7,774)		37,722		—
Decatur, GA	Courtyard	2015	4,046			34,151		3,715		4,046		37,866		41,912		(9,034)		32,878		—
Eden Prairie, MN	Hilton Garden Inn	2013	1,800			11,211		188		1,800		11,399		13,199		(4,897)		8,302		—
Englewood, CO	Hyatt Place	2012	2,000			11,950		(321)		2,000		11,629		13,629		(4,949)		8,680		18,545		(1)
Englewood, CO	Hyatt House	2012	2,700			16,267		856		2,700		17,123		19,823		(7,843)		11,980		19,024		(1)
Fort Lauderdale, FL	Courtyard	2017	37,950			47,002		5,083		37,950		52,085		90,035		(9,814)		80,221		—
Fort Worth, TX	Courtyard	2017	1,920			38,070		9,869		1,920		47,939		49,859		(9,101)		40,758		—
Garden City, NY	Hyatt Place	2012	4,200			27,775		343		4,283		28,035		32,318		(7,649)		24,669		—
Glendale, CO	Staybridge Suites	2011	2,100			10,151		333		2,100		10,484		12,584		(4,272)		8,312		—
Greenville, SC	Hilton Garden Inn	2013	1,200			14,566		3,101		1,200		17,667		18,867		(5,938)		12,929		—
Hillsboro, OR	Residence Inn	2019	4,943			42,541		440		4,943		42,981		47,924		(4,224)		43,700		—
Hoffman Estates, IL	Hyatt Place	2013	1,900			8,917		(1,793)		1,900		7,124		9,024		(3,879)		5,145		18,358		(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	$	2,923	$	—	$	44,761	$	44,761	$	(12,043)	$	32,718	$	—
Houston, TX	Hilton Garden Inn	2014	2,800			33,777		4,440		2,800		38,217		41,017		(7,234)		33,783		—
Hunt Valley, MD	Residence Inn	2015	—			35,436		1,166		1,076		35,526		36,602		(8,987)		27,615		—
Indianapolis, IN	SpringHill Suites	2013	4,012			27,910		(630)		4,012		27,280		31,292		(7,769)		23,523		—
Indianapolis, IN	Courtyard	2013	7,788			54,384		(2,097)		7,788		52,287		60,075		(14,266)		45,809		—
Kansas City, MO	Courtyard	2017	3,955			20,608		2,598		3,955		23,206		27,161		(4,419)		22,742		—
Lombard, IL	Hyatt Place	2012	1,550			17,351		80		1,550		17,431		18,981		(6,629)		12,352		—		(1)
Lone Tree, CO	Hyatt Place	2012	1,300			11,704		(141)		1,314		11,549		12,863		(5,098)		7,765		—		(1)
Louisville, KY	Fairfield Inn & Suites	2013	3,120			24,231		(534)		3,120		23,697		26,817		(7,573)		19,244		33,155		(1)
Louisville, KY	SpringHill Suites	2013	4,880			37,361		(590)		4,880		36,771		41,651		(11,743)		29,908		—		(1)
Mesa, AZ	Hyatt Place	2017	2,400			19,848		1,184		2,400		21,032		23,432		(5,236)		18,196		45,070		(1)
Metairie, LA	Courtyard	2013	1,860			25,168		643		1,860		25,811		27,671		(9,718)		17,953		—
Metairie, LA	Residence Inn	2013	1,791			23,386		122		1,791		23,508		25,299		(10,519)		14,780		—
Miami, FL	Hyatt House	2015	4,926			40,087		2,575		4,926		42,662		47,588		(13,532)		34,056		—
Milpitas, CA	Hilton Garden Inn	2019	7,921			46,141		912		7,921		47,053		54,974		(5,379)		49,595		—
Minneapolis, MN	Hyatt Place	2013	—			34,026		2,154		—		36,180		36,180		(10,006)		26,174		—
Minneapolis, MN	Hampton Inn & Suites	2015	3,502			35,433		261		3,502		35,694		39,196		(10,209)		28,987		—		(1)
Minnetonka, MN	Holiday Inn Express & Suites	2013	1,000			7,662		219		1,000		7,881		8,881		(3,449)		5,432		—
Nashville, TN	SpringHill Suites	2004	777			5,598		644		777		6,242		7,019		(3,794)		3,225		—
Nashville, TN	Courtyard	2016	8,792			62,759		7,824		8,792		70,583		79,375		(13,950)		65,425		—
New Haven, CT	Courtyard	2017	11,990			51,497		1,809		11,990		53,306		65,296		(8,969)		56,327		—
New Orleans, LA	Courtyard	2013	1,944			25,120		3,296		1,944		28,416		30,360		(12,347)		18,013		—
New Orleans, LA	Courtyard	2013	2,490			34,220		1,848		2,490		36,068		38,558		(14,314)		24,244		—
New Orleans, LA	SpringHill Suites	2013	2,046			33,270		5,918		2,046		39,188		41,234		(14,959)		26,275		—
Orlando, FL	Hyatt Place	2013	3,100			11,343		(167)		3,100		11,176		14,276		(4,808)		9,468		—		(1)
Orlando, FL	Hyatt Place	2013	2,716			11,221		1,655		2,716		12,876		15,592		(5,045)		10,547		—		(1)
Orlando, FL	Hyatt House	2018	2,800			34,423		147		2,800		34,570		37,370		(7,848)		29,522		—
Owings Mills, MD	Hyatt Place	2012	2,100			9,799		156		2,100		9,955		12,055		(3,995)		8,060		—		(1)
Pittsburgh, PA	Courtyard	2017	1,652			40,749		6,057		1,652		46,806		48,458		(8,163)		40,295		—
Portland, OR	Hyatt Place	2009	—		(2)	14,700		664		—		15,364		15,364		(5,935)		9,429		—
Portland, OR	Residence Inn	2009	—		(2)	15,629		353		—		15,982		15,982		(6,664)		9,318		15,914		(1)
Portland, OR	Residence Inn	2019	12,813			76,868		2,458		12,813		79,326		92,139		(9,614)		82,525		—
Poway, CA	Hampton Inn & Suites	2013	2,300			14,728		1,097		2,300		15,825		18,125		(5,560)		12,565		—
San Francisco, CA	Hilton Garden Inn	2019	12,346			45,730		410		12,346		46,140		58,486		(5,433)		53,053		—
San Francisco, CA	Holiday Inn Express & Suites	2013	15,545			49,469		3,899		15,545		53,368		68,913		(18,576)		50,337		—
San Francisco, CA	Four Points	2014	1,200			21,397		3,107		1,200		24,504		25,704		(7,891)		17,813		—		(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
Scottsdale, AZ	Hyatt Place	2012	$	1,500	$	10,171	$	(336)	$	1,500	$	9,835	$	11,335	$	(3,835)	$	7,500	$	—	(1)
Scottsdale, AZ	Courtyard	2003	3,225		12,571		3,533		3,225		16,104		19,329		(7,940)		11,389		—
Scottsdale, AZ	SpringHill Suites	2003	2,195		9,496		1,660		2,195		11,156		13,351		(5,547)		7,804		—
Silverthorne, CO	Hampton Inn & Suites	2019	6,845		21,125		1,159		6,845		22,284		29,129		(1,977)		27,152		—
Steamboat Springs, CO	Residence Inn	2021	1,832		31,214		21		1,832		31,235		33,067		(670)		32,397		—
Tampa, FL	Hampton Inn & Suites	2012	3,600		20,366		4,446		3,600		24,812		28,412		(7,516)		20,896		—
Tucson, AZ	Embassy Suites	2021	1,841		23,958		—		1,841		23,958		25,799		—		25,799		13,249
Tucson, AZ	Homewood Suites	2017	2,570		22,802		1,156		2,570		23,958		26,528		(5,419)		21,109		—
Waltham, MA	Hilton Garden Inn	2017	10,644		21,713		6,277		10,644		27,990		38,634		(5,787)		32,847		—
Watertown, MA	Residence Inn	2018	25,083		45,917		307		25,083		46,224		71,307		(6,530)		64,777		—
Land Parcels	Land Parcels		4,645		—		(2,720)		1,925		—		1,925		—		1,925		—
			$	326,748	$	2,178,578	$	133,223	$	325,201	$	2,313,348	$	2,638,549	$	(583,080)	$	2,055,469	$	163,315

(1) Properties cross-collateralize the related loan, refer to "Part II – Item 8. – Financial Statements and Supplementary Data – Note 6 – Debt" in the Consolidated Financial Statements.

(2) Properties subject to ground lease, refer to "Part II – Item 8. – Financial Statements and Supplementary Data – Note 7 – Leases" in the Consolidated Financial Statements.

(a)         ASSET BASIS

	2021		2020		2019
Reconciliation of land, buildings and improvements:
Balance at beginning of period	$	2,570,768	$	2,553,428	$	2,406,269
Additions to land, buildings and improvements	80,496		19,918		336,480
Disposition of land, buildings and improvements	(12,715)		(2,578)		(186,800)
Impairment loss	—		—		(2,521)
Balance at end of period	$	2,638,549	$	2,570,768	$	2,553,428

 (b)         ACCUMULATED DEPRECIATION

 

	2021		2020		2019
Reconciliation of accumulated depreciation:
Balance at beginning of period	$	490,326	$	383,763	$	351,821
Depreciation	105,462		109,159		99,013
Depreciation on assets sold or disposed	(12,708)		(2,596)		(67,071)
Balance at end of period	$	583,080	$	490,326	$	383,763

 (c)        The aggregate cost of real estate for Federal income tax purposes was approximately $2,448 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 "Part II – Item 8. – Financial Statements and Supplementary             Data – 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.