Summary of Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2012

Summary of Significant Accounting Policies

Schedule of useful lives of property and equipment

	Years
Buildings	30
Hotel systems	1 ½ – 7
Other equipment	3 – 10

Schedule of useful lives of the intangible assets

	Years
Hotel contracts and relationships	10 – 20
Tradenames	7
Acquired technologies, rights and patents	2 – 10
Content agreements and relationships	4

Schedule of components of accumulated other comprehensive income (loss)

Components of accumulated other comprehensive income (loss), as shown on our Consolidated Balance Sheets, were as follows (dollar amounts in thousands):

	Unrealized (Loss) Gain on Interest Rate Swap Agreements			Foreign Currency Translation Adjustment			Accumulated Other Comprehensive (Loss) Income
Balance, December 31, 2009	$	(26,623	)	$	2,398		$	(24,225	)
Change during period	17,781			778			18,559
Balance, December 31, 2010	(8,842		)	3,176			(5,666		)
Change during period	8,842			(687		)	8,155
Balance, December 31, 2011	$	-		$	2,489		$	2,489
Change during period	-			514			514
Balance, December 31, 2012	$	-		$	3,003		$	3,003

Schedule of calculation of weighted average basic and fully diluted shares

The following table reflects the calculation of weighted average basic and fully diluted shares for the periods ended December 31.  Dollar amounts are in thousands, except share data:

	2012			2011			2010
Basic EPS:
Net loss	$	(134,287	)	$	(631	)	$	(11,685	)
Preferred stock dividends (See Note 11)	(5,557		)	(5,744		)	(5,750		)
	$	(139,844	)	$	(6,375	)	$	(17,435	)
Loss allocated to participating securities (1)	-			-			-
Net loss available to common stockholders	$	(139,844	)	$	(6,375	)	$	(17,435	)
Weighted average shares outstanding for basic earnings per common share	25,513,277			25,082,921			24,454,796
Basic earnings per share	$	(5.48	)	$	(0.25	)	$	(0.71	)
Diluted EPS:
Net loss	$	(134,287	)	$	(631	)	$	(11,685	)
Preferred stock dividends (See Note 11)	(5,557		)	(5,744		)	(5,750		)
	$	(139,844	)	$	(6,375	)	$	(17,435	)
Loss allocated to participating securities (1)	-			-			-
Net loss available to common stockholders	$	(139,844	)	$	(6,375	)	$	(17,435	)
Weighted average shares outstanding for basic earnings per common share	25,513,277			25,082,921			24,454,796
Dilutive effect of potential shares (2)	N/A			N/A			N/A
Weighted average shares outstanding for diluted earnings per common share	25,513,277			25,082,921			24,454,796
Diluted earnings per share	$	(5.48	)	$	(0.25	)	$	(0.71	)
Participating securities (1)	177,375			122,625			65,625
Potential dilutive common shares (2)	15,750,173			16,990,537			17,062,267

(1) For the years ended December 31, 2012, 2011 and 2010, participating securities, which do not participate in losses, were not included in the calculations of earnings per share, as we were in a loss position and their inclusion would have been anti-dilutive.

(2) For the years ended December 31, 2012, 2011 and 2010, potential dilutive common shares, which include stock options, unvested restricted stock, warrants and the conversion of preferred stock, were not included in the computation of diluted earnings per share, as we were in a loss position and their inclusion would have been anti-dilutive.