Taxes, Insurance and Lease Expense

3 Months Ended

Mar. 31, 2014

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,
	2014		2013
Hotel lease expense^(a)	$	10,391	$	9,558
Land lease expense^(b)	2,462		2,394
Real estate and other taxes	8,109		7,594
Property insurance, general liability insurance and other	2,671		2,618
Total taxes, insurance and lease expense	$	23,633	$	22,164

(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 $4.9 million and $4.1 million for the three months ended March 31, 2014 and 2013, respectively.


(b)	Land lease expense includes percentage rent of $1.0 million and $968,000 for the three months ended March 31, 2014 and 2013, respectively.