XML 60 R26.htm IDEA: XBRL DOCUMENT v2.4.0.6
Taxes, Insurance and Lease Expense (Tables)
6 Months Ended
Jun. 30, 2012
Taxes, Insurance and Lease Expense [Abstract]  
Schedule of Taxes, Insurance and Lease Expense
Taxes, insurance and lease expense from continuing operations were comprised of the following (in thousands):
 
Three Months Ended
 
Six Months Ended
 
June 30,
 
June 30,
 
2012
 
2011
 
2012
 
2011
Hotel lease expense(a) 
$
11,236

 
$
10,497

 
$
20,429

 
$
18,801

Land lease expense(b) 
2,802

 
2,685

 
5,188

 
4,885

Real estate and other taxes
8,161

 
7,123

 
16,448

 
14,040

Property insurance, general liability insurance and other
2,993

 
2,036

 
5,440

 
4,393

  Total taxes, insurance and lease expense
$
25,192

 
$
22,341

 
$
47,505

 
$
42,119


(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 $5.8 million and $5.1 million for the three months ended June 30, 2012 and 2011, respectively, and $9.6 million and $8.0 million for the six months ended June 30, 2012 and 2011, respectively.

(b)
Land lease expense includes percentage rent of $1.5 million and $1.2 million for the three months ended June 30, 2012 and 2011, respectively, and $2.4 million and $1.9 million for the six months ended June 30, 2012 and 2011, respectively.