
										Additions, (dispositions),
										(impairments)
				Initial cost						Subsequent to acquisition							Gross amount at December 31, 2016
Brand	Location	Acquisition date	Encumbrance	Land		Buildings & improvements		Furniture & equipment		Land		Buildings & improvements			Furniture & equipment		Land		Buildings & improvements		Furniture & equipment		Accumulated depreciation		Net book value
Super 8	Creston, Iowa	09/19/1978	GWBR	$	56	$	765	$	76	$	90	$	1,574		$	892	$	146	$	2,339	$	968	$	(2,213)	$	1,240
Quality Inn	Solomons, Maryland	06/01/1986	WAB		2,304		2,719		269		-		1,514			436		2,304		4,233		705		(3,220)		4,022
Comfort Inn	New Castle, Pennsylvania	07/01/1987	MS		57		3,732		369		(1)		344			426		56		4,076		795		(2,550)		2,377
Key West Inn	Key Largo, Florida	08/01/1987	MS		339		2,947		292		-		1,186			342		339		4,133		634		(2,553)		2,553
Comfort Inn	Harlan, Kentucky	07/01/1993	WAB		-		2,684		265		-		(1,265)			512		-		1,419		777		(532)		1,664
Quality Inn	Morgantown, West Virginia	10/01/1996	MS		398		3,749		347		-		633			704		398		4,382		1,051		(2,732)		3,099
Comfort Suites	Ft. Wayne, Indiana	11/07/2005	HUNT		1,200		3,964		840		-		1,037			591		1,200		5,001		1,431		(2,555)		5,077
Comfort Suites	Lafayette, Indiana	11/07/2005	HUNT		850		3,054		420		-		375			301		850		3,429		721		(1,561)		3,439
Comfort Inn & Suites	Warsaw, Indiana	11/07/2005	HUNT		650		2,121		380		-		380			438		650		2,501		818		(1,330)		2,639
Comfort Suites	South Bend, Indiana	11/30/2005	WAB		500		10,602		910		(250)		(4,264)			1,392		250		6,338		2,302		(1,691)		7,199
Supertel Inn	Creston, Iowa	06/30/2006	MS		235		2,364		344		-		(16)			65		235		2,348		409		(1,012)		1,980
Super 8	Billings, Montana	01/05/2007	WAB		518		4,648		159		(27)		(12)			259		491		4,636		418		(1,507)		4,038
Days Inn	Bossier City, Louisiana	04/04/2007	GWBR		1,025		5,031		87		(768)		(3,792)			750		257		1,239		837		(813)		1,520
Hilton Garden Inn	Dowell, Maryland	05/25/2012	CANTOR		1,400		9,492		323		-		621			348		1,400		10,113		671		(1,644)		10,540
SpringHill Suites	San Antonio, Texas	10/01/2015	LAT		1,597		14,353		1,550		-		114			20		1,597		14,467		1,570		(786)		16,848
Courtyard by Marriott	Jacksonville, Florida	10/02/2015	WABJ		2,100		11,050		850		-		152			3		2,100		11,202		853		(710)		13,445
Hotel Indigo	Atlanta, Georgia	10/02/2015	WABA		800		8,700		1,500		-		86			141		800		8,786		1,641		(729)		10,498
Aloft	Leawood, Kansas	12/14/2016	GWB		3,339		18,046		1,115		-		(5)			-		3,339		18,041		1,115		(57)		22,438
Subtotal Hotel Properties					17,368		110,021		10,096		(956)		(1,338)	-		7,620		16,412		108,683		17,716		(28,195)		114,616
Construction in progress					-		-				-		82			4		-		82		4		-		86
Office building					69		1,517		-		(69)		(1,517)			487		-		-		487		(318)		169
Total				$	17,437	$	111,538	$	10,096	$	(1,025)	$	(2,773)		$	8,111	$	16,412	$	108,765	$	18,207	$	(28,513)	$	114,871

Encumbrance codes refer to the following lenders:


MS	Morgan Stanley	WAB	Western Alliance Bank Fixed Rate Debt
GWBR	Great Western Bank Revolving Credit Facility	HUNT	Huntington
LAT	Latitude	CANTOR	Cantor
WABA	Western Alliance Bank Variable Rate Debt - $4.9m	WABJ	Western Alliance Bank Variable Rate Debt - $9.9m
GWB	Great Western Bank Fixed Rate Debt

See Accompanying Report of Independent Registered Public Accounting Firm



	ASSET BASIS	Total
(a)	Balance at January 1, 2014	$	248,468
	Additions		3,058
	Disposals		(32,646)
	Impairment loss		(4,295)
	Balance at December 31, 2014		214,585
	Additions		46,489
	Disposals		(65,802)
	Impairment loss		(6,373)
	Balance at December 31, 2015		188,899
	Additions		25,618
	Disposals		(68,256)
	Impairment loss		(2,877)
	Balance at December 31, 2016	$	143,384

	ACCUMULATED DEPRECIATION	Total
(b)	Balance at January 1, 2014	$	84,112
	Depreciation for the period ended December 31, 2014		6,549
	Depreciation on assets sold or disposed		(13,884)
	Impairment loss		(1,374)
	Balance at December 31, 2014		75,403
	Depreciation for the period ended December 31, 2015		5,400
	Depreciation on assets sold or disposed		(19,938)
	Impairment loss		(2,665)
	Balance at December 31, 2015		58,200
	Depreciation for the period ended December 31, 2016		5,190
	Depreciation on assets sold or disposed		(33,477)
	Impairment loss		(1,400)
	Balance at December 31, 2016	$	28,513

(c)

The aggregate cost of land, buildings, furniture and equipment for Federal income tax purposes is approximately $148.4 million (unaudited).

(d)

Depreciation is computed based upon the following useful lives:

Buildings and improvements 15 - 40 years

Furniture and equipment 3 - 12 years

(e)

The Company has mortgages payable on the properties as noted. Additional mortgage information can be found in Note 6 to the consolidated financial statements.