Income Taxes	3 Months Ended
Mar. 31, 2013
Income Taxes
Income Taxes	Note 8. Income Taxes We have elected to be taxed as a real estate investment trust, or REIT, under the Internal Revenue Code of 1986, as amended, and, accordingly are generally not subject to federal and most state income taxation on our operating income provided we distribute our taxable income to our shareholders and meet certain organization and operating requirements. We are subject to income tax in Canada, Puerto Rico and certain states despite our REIT status. Further, we lease our managed hotels to our wholly owned TRSs that, unlike most of our other subsidiaries, file a separate consolidated tax return and are subject to federal, state and foreign income taxes. Our consolidated income tax provision includes the income tax provision related to the operations of our TRSs and certain state and foreign income taxes incurred by us despite our REIT status. During the three months ended March 31, 2013, we recognized a current income tax expense of $730, which includes $350 of federal taxes, $31 of foreign taxes and $349 of certain state taxes that are payable without regard to our REIT status and TRS tax loss carry forwards. In addition, during the three months ended March 31, 2013, we recognized a deferred tax benefit of $212 related to book/tax basis differences at certain of our hotels and Canadian tax losses available to offset future income.

Income Taxes

3 Months Ended

Mar. 31, 2013

Note 8. Income Taxes

We have elected to be taxed as a real estate investment trust, or REIT, under the Internal Revenue Code of 1986, as amended, and, accordingly are generally not subject to federal and most state income taxation on our operating income provided we distribute our taxable income to our shareholders and meet certain organization and operating requirements. We are subject to income tax in Canada, Puerto Rico and certain states despite our REIT status. Further, we lease our managed hotels to our wholly owned TRSs that, unlike most of our other subsidiaries, file a separate consolidated tax return and are subject to federal, state and foreign income taxes. Our consolidated income tax provision includes the income tax provision related to the operations of our TRSs and certain state and foreign income taxes incurred by us despite our REIT status.

During the three months ended March 31, 2013, we recognized a current income tax expense of $730, which includes $350 of federal taxes, $31 of foreign taxes and $349 of certain state taxes that are payable without regard to our REIT status and TRS tax loss carry forwards. In addition, during the three months ended March 31, 2013, we recognized a deferred tax benefit of $212 related to book/tax basis differences at certain of our hotels and Canadian tax losses available to offset future income.