Taxes, Insurance and Lease Expense

3 Months Ended

Mar. 31, 2013

Taxes, Insurance and Lease Expenses [Abstract]

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



	Three Months Ended
	March 31,
	2013		2012
Hotel lease expense^(a)	$	9,558	$	9,193
Land lease expense^(b)	2,394		2,387
Real estate and other taxes	7,938		7,871
Property insurance, general liability insurance and other	2,777		2,259
Total taxes, insurance and lease expense	$	22,667	$	21,710

(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 $4.1 million and $3.8 million for the three months ended March 31, 2013 and 2012, respectively.


(b)	Land lease expense includes percentage rent of $968,000 and $915,000 for the three months ended March 31, 2013 and 2012, respectively.