Organization (Tables)

3 Months Ended

Mar. 31, 2014

Consolidated Portfolio of Hotels by Location

As of March 31, 2014, our consolidated portfolio, primarily consisting of luxury and upper upscale hotels, is located in the following countries:

	Hotels
United States		99
Australia		1
Brazil		1
Canada		3
Chile		2
Mexico		1
New Zealand		7
Total		114

European Joint Venture

Consolidated Portfolio of Hotels by Location

As of March 31, 2014, the Euro JV owned hotels located in the following countries:

	Hotels
Belgium		3
France		4
Germany		1
Italy		3
Poland		1
Spain		2
Sweden		1
The Netherlands		2
United Kingdom		2
Total		19