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Hotel Development
12 Months Ended
Dec. 31, 2011
Hotel Development [Abstract]  
Hotel Development [Text Block]
Hotel Development

In December 2011, we acquired a 95% interest in a consolidated joint venture, which acquired the Knickerbocker Hotel in midtown Manhattan, New York, for $115 million. This is a non-operating property that we plan to develop into a hotel with 330 rooms that will open late 2013. In addition to the purchase price, the December 31, 2011 book value includes all capitalized acquisition and development costs incurred through the end of 2011.