Subsequent Event

9 Months Ended

Sep. 30, 2011

Subsequent Events

Subsequent Events

Note 14.  Subsequent Event

On November 2, 2011, we entered agreements which are intended to result in our acquisition of entities which own a 400 room hotel in Cambridge, MA and a leasehold interest in a 483 room hotel in New Orleans, LA for approximately $150,500.  We expect to fund these purchases using drawings under our revolving credit facility.  This transaction is a component part of a complex merger transaction and is subject to a number of contingencies.  For more information about this possible transaction, please see “Management’s Discussion and Analysis of Financial Condition and Results of Operations––Related Person Transactions” in Part I, Item 2 below and our Current Report on Form 8-K filed with the SEC on November 8, 2011, a copy of which is available on the SEC website at www.sec.gov.