Concentration (Tables)

12 Months Ended

Dec. 31, 2015

Schedule of minimum return payments and minimum rents, for each management or lease agreement


	Number of	Annual Minimum
Agreement Reference Name	Properties	Returns/Rents		% of Total	Investment(1)		% of Total
Marriott (No. 1)	53	$	68,356	9%	$	688,500	8%
Marriott (No. 234)	68		106,243	15%		1,000,439	12%
Marriott (No. 5)	1		10,116	1%		90,078	1%
Subtotal Marriott	122		184,715	25%		1,779,017	21%
InterContinental(2)	93		151,218	20%		1,563,641	18%
Sonesta	31		82,338	11%		1,084,693	13%
Wyndham(3)	22		27,976	4%		381,915	4%
Hyatt	22		22,037	3%		301,942	4%
Carlson	11		12,920	2%		209,895	2%
Morgans	1		7,595	1%		120,000	1%
Subtotal Hotels	302		488,799	66%		5,441,103	63%
TA (No. 1)	39		48,862	7%		631,147	7%
TA (No. 2)	38		47,229	6%		605,140	7%
TA (No. 3)	38		50,077	6%		589,798	7%
TA (No. 4)(4)	38		46,680	6%		527,861	6%
TA (No. 5)	40		64,875	9%		830,966	10%
Subtotal TA	193		257,723	34%		3,184,912	37%
Total	495	$	746,522	100%	$	8,626,015	100%

(1)

Represents historical cost of our properties plus capital improvements funded by us less impairment writedowns, if any, and excludes capital improvements made from FF&E reserves funded from hotel operations.

(2)

The annual minimum return/ minimum rent amount presented includes $7,899 of rent related to our lease with InterContinental for one hotel in Puerto Rico.

(3)

The annual minimum return / minimum rent amount presented includes $1,366 of rent related to our lease with Wyndham Vacation for 48 vacation units in one hotel.

(4)

The annual minimum rent amount for our TA No. 4 agreement includes approximately $2,103 of ground rent paid by TA for a property we lease and sublease to TA.