Taxes, Insurance and Lease Expense

3 Months Ended

Mar. 31, 2012

Taxes, Insurance and Lease Expense [Abstract]

Taxes, Insurance and Lease Expense [Text Block]

Taxes, Insurance and Lease Expense

Taxes, insurance and lease expense from continuing operations were comprised of the following (in thousands):

	Three Months Ended
	March 31,
	2012		2011
Hotel lease expense(a)	$	9,194	$	8,304
Land lease expense(b)	2,386		2,199
Real estate and other taxes	8,288		6,918
Property insurance, general liability insurance and other	2,445		2,357
Total taxes, insurance and lease expense	$	22,313	$	19,778

(a) Hotel lease expense is recorded by the consolidated operating lessees of 12 hotels owned by unconsolidated entities, and is partially (generally 49%) offset through noncontrolling interests in other partnerships.  Our 50% share of the corresponding lease income is recorded through equity in income from unconsolidated entities.  Hotel lease expense includes percentage rent of $3.8 million and $2.9 million for the three months ended March 31, 2012 and 2011, respectively.

(b) Land lease expense includes percentage rent of $915,000 and $739,000 for the three months ended March 31, 2012 and 2011, respectively.