Other Assets

Other assets consist of the following:



	March 31, 2013		December 31, 2012
	(In thousands)
Notes receivable (see Note 3)	$	35,425	$	35,103
Equity method investments	28,140		27,453
Deferred financing fees	10,619		11,174
Land held for sale	1,300		1,300
Other assets	865		983
Total	$	76,349	$	76,013

Variable Interest Entities

Equity method investments include investments in joint ventures totaling $24.2 million and $24.3 million at March 31, 2013 and December 31, 2012, respectively that the Company has determined to be variable interest entities. These investments relate to the Company's program to offer equity support to qualified franchisees to develop and operate Cambria Suites hotels in strategic markets. Based on an analysis of who has the power to direct the activities that most significantly impact these entities performance and who has an obligation to absorb losses of these entities or a right to receive benefits from these entities that could potentially be significant to the entity, the Company has determined that it is not the primary beneficiary of any of its joint venture investments. We based our quantitative analysis on the forecasted cash flows of the entity and our qualitative analysis on our review of the design of the entity, its organizational structure including decision-making ability and the relevant development, operating management and financial agreements. As a result, the Company's investment in these entities is accounted for under the equity method. For the three months ended March 31, 2013, the Company recognized losses totaling $0.1 million. No income or losses were recognized related to these investments during the three months ended March 31, 2012.