We lease our headquarters located at 4747 Bethesda Avenue, Suite 1100, Bethesda, Maryland 20814.
−Removed: We lease office space that was formerly used as our headquarters at 7315 Wisconsin Avenue, 1100 West, Bethesda, Maryland 20814 and 7550 Wisconsin Avenue, 10th Floor, Bethesda, Maryland 20814.
+Added: We lease office space that was formerly used as our headquarters at 7550 Wisconsin Avenue, 10th Floor, Bethesda, Maryland 20814.
At December 31, 2020, we owned 53 hotels with a total of 13,236 guest rooms.
The following table sets forth certain information about the hotels we owned as of December 31, 2020, all of which are consolidated in our financial statements.
−Removed: Date Acquired
−Removed: Number of Guest Rooms
−Removed: L'Auberge Del Mar
−Removed: November 30, 2018
−Removed: Hotel Palomar Los Angeles Beverly Hills
−Removed: November 20, 2014
−Removed: Los Angeles, CA
−Removed: W Los Angeles - West Beverly Hills
−Removed: August 23, 2012
−Removed: Los Angeles, CA
−Removed: Chamberlain West Hollywood Hotel
−Removed: November 30, 2018
−Removed: West Hollywood, CA
−Removed: Grafton on Sunset
−Removed: November 30, 2018
−Removed: West Hollywood, CA
−Removed: Le Parc Suite Hotel
−Removed: November 30, 2018
−Removed: West Hollywood, CA
−Removed: Mondrian Los Angeles
−Removed: West Hollywood, CA
−Removed: Montrose West Hollywood
−Removed: November 30, 2018
−Removed: West Hollywood, CA
−Removed: Le Meridien Delfina Santa Monica
−Removed: November 19, 2010
−Removed: Santa Monica, CA
−Removed: Viceroy Santa Monica Hotel
−Removed: November 30, 2018
−Removed: Santa Monica, CA
−Removed: Embassy Suites San Diego Bay - Downtown
−Removed: January 29, 2013
−Removed: San Diego, CA
−Removed: Hilton San Diego Gaslamp Quarter
−Removed: November 30, 2018
−Removed: San Diego, CA
−Removed: Paradise Point Resort & Spa
−Removed: November 30, 2018
−Removed: San Diego, CA
−Removed: San Diego Mission Bay Resort
−Removed: November 30, 2018
−Removed: San Diego, CA
−Removed: Solamar Hotel
−Removed: November 30, 2018
−Removed: San Diego, CA
−Removed: The Westin San Diego Gaslamp Quarter
−Removed: April 6, 2011
−Removed: San Diego, CA
−Removed: Argonaut Hotel
−Removed: February 16, 2011
−Removed: San Francisco, CA
−Removed: Harbor Court Hotel San Francisco
−Removed: November 30, 2018
−Removed: San Francisco, CA
−Removed: November 30, 2018
−Removed: San Francisco, CA
−Removed: November 30, 2018
−Removed: San Francisco, CA
−Removed: Hotel Zelos San Francisco
−Removed: October 25, 2012
−Removed: San Francisco, CA
−Removed: Hotel Zephyr Fisherman's Wharf
−Removed: December 9, 2013
−Removed: San Francisco, CA
−Removed: Hotel Zeppelin San Francisco
−Removed: San Francisco, CA
−Removed: Hotel Zetta San Francisco
−Removed: April 4, 2012
−Removed: San Francisco, CA
−Removed: Hotel Zoe Fisherman's Wharf
−Removed: June 11, 2015
−Removed: San Francisco, CA
−Removed: Sir Francis Drake
−Removed: June 22, 2010
−Removed: San Francisco, CA
−Removed: The Marker San Francisco
−Removed: November 30, 2018
−Removed: San Francisco, CA
−Removed: Villa Florence San Francisco on Union Square
−Removed: November 30, 2018
−Removed: San Francisco, CA
−Removed: Chaminade Resort & Spa
−Removed: November 30, 2018
−Removed: Santa Cruz, CA
−Removed: Donovan Hotel
−Removed: November 30, 2018
−Removed: Washington, DC
−Removed: November 30, 2018
−Removed: Washington, DC
−Removed: Hotel Monaco Washington DC
−Removed: September 9, 2010
−Removed: Washington, DC
−Removed: Mason & Rook Hotel
−Removed: November 30, 2018
−Removed: Washington, DC
−Removed: Sofitel Washington DC Lafayette Square
−Removed: November 30, 2018
−Removed: Washington, DC
−Removed: Southernmost Beach Resort
−Removed: November 30, 2018
−Removed: The Marker Key West
−Removed: November 30, 2018
−Removed: Hotel Colonnade Coral Gables, Autograph Collection
−Removed: November 12, 2014
−Removed: LaPlaya Beach Resort and Club
−Removed: InterContinental Buckhead Atlanta
−Removed: Hotel Chicago Downtown, Autograph Collection
−Removed: November 30, 2018
−Removed: The Westin Michigan Avenue Chicago
−Removed: November 30, 2018
−Removed: Hyatt Regency Boston Harbor
−Removed: November 30, 2018
−Removed: Revere Hotel Boston Common
−Removed: December 18, 2014
+Added: Property Date Acquired Location Number of Guest Rooms
+Added: L'Auberge Del Mar November 30, 2018 Del Mar, CA 121
+Added: Hotel Palomar Los Angeles Beverly Hills (1) November 20, 2014 Los Angeles, CA 264
+Added: W Los Angeles - West Beverly Hills August 23, 2012 Los Angeles, CA 297
+Added: Chamberlain West Hollywood Hotel November 30, 2018 West Hollywood, CA 115
+Added: Grafton on Sunset November 30, 2018 West Hollywood, CA 108
+Added: Le Parc Suite Hotel November 30, 2018 West Hollywood, CA 154
+Added: Mondrian Los Angeles May 3, 2011 West Hollywood, CA 236
+Added: Montrose West Hollywood November 30, 2018 West Hollywood, CA 133
+Added: Le Meridien Delfina Santa Monica November 19, 2010 Santa Monica, CA 310
+Added: Viceroy Santa Monica Hotel (1) November 30, 2018 Santa Monica, CA 169
+Added: Embassy Suites San Diego Bay - Downtown January 29, 2013 San Diego, CA 341
+Added: Hilton San Diego Gaslamp Quarter November 30, 2018 San Diego, CA 286
+Added: Paradise Point Resort & Spa (1) November 30, 2018 San Diego, CA 462
+Added: San Diego Mission Bay Resort (formerly Hilton San Diego Mission Bay Resort) (1) November 30, 2018 San Diego, CA 357
+Added: Solamar Hotel November 30, 2018 San Diego, CA 235
+Added: The Westin San Diego Gaslamp Quarter April 6, 2011 San Diego, CA 450
+Added: Argonaut Hotel (1) February 16, 2011 San Francisco, CA 252
+Added: Harbor Court Hotel San Francisco (1) November 30, 2018 San Francisco, CA 131
+Added: Hotel Spero November 30, 2018 San Francisco, CA 236
+Added: Hotel Vitale (1) November 30, 2018 San Francisco, CA 200
+Added: Hotel Zelos San Francisco (1) October 25, 2012 San Francisco, CA 202
+Added: Hotel Zephyr Fisherman's Wharf (1) December 9, 2013 San Francisco, CA 361
+Added: Hotel Zeppelin San Francisco (1) May 22, 2014 San Francisco, CA 196
+Added: Hotel Zetta San Francisco April 4, 2012 San Francisco, CA 116
+Added: Hotel Zoe Fisherman's Wharf June 11, 2015 San Francisco, CA 221
+Added: Sir Francis Drake June 22, 2010 San Francisco, CA 416
+Added: The Marker San Francisco November 30, 2018 San Francisco, CA 208
+Added: Villa Florence San Francisco on Union Square November 30, 2018 San Francisco, CA 189
+Added: Chaminade Resort & Spa November 30, 2018 Santa Cruz, CA 156
+Added: Hotel Zena Washington DC (formerly Donovan Hotel) November 30, 2018 Washington, DC 191
+Added: George Hotel November 30, 2018 Washington, DC 139
+Added: Hotel Monaco Washington DC (1) September 9, 2010 Washington, DC 184
+Added: Viceroy Washington DC (formerly Mason & Rook Hotel) November 30, 2018 Washington, DC 178
+Added: Southernmost Beach Resort (2) November 30, 2018 Key West, FL 262
+Added: The Marker Key West Harbor Resort November 30, 2018 Key West, FL 96
+Added: Hotel Colonnade Coral Gables, Autograph Collection November 12, 2014 Miami, FL 157
+Added: LaPlaya Beach Resort and Club May 21, 2015 Naples, FL 189
+Added: Hotel Chicago Downtown, Autograph Collection November 30, 2018 Chicago, IL 354
+Added: The Westin Michigan Avenue Chicago November 30, 2018 Chicago, IL 752
+Added: Hyatt Regency Boston Harbor (1) November 30, 2018 Boston, MA 270
+Added: Revere Hotel Boston Common December 18, 2014 Boston, MA 356
The Liberty, A Luxury Collection Hotel, Boston (1) (3)
−Removed: November 30, 2018
−Removed: The Westin Copley Place, Boston
−Removed: November 30, 2018
−Removed: The Roger New York
−Removed: November 30, 2018
−Removed: Hotel Vintage Portland
−Removed: The Heathman Hotel
−Removed: November 30, 2018
−Removed: The Hotel Zags (formerly Hotel Modera)
−Removed: August 28, 2013
−Removed: The Nines, a Luxury Collection Hotel, Portland
−Removed: July 17, 2014
−Removed: Sofitel Philadelphia at Rittenhouse Square
−Removed: December 3, 2010
−Removed: Philadelphia, PA
−Removed: Union Station Hotel Nashville, Autograph Collection
−Removed: December 10, 2014
−Removed: Nashville, TN
−Removed: Hotel Monaco Seattle
−Removed: April 7, 2011
−Removed: Hotel Vintage Seattle
−Removed: Skamania Lodge
−Removed: November 3, 2010
−Removed: Stevenson, WA
+Added: November 30, 2018 Boston, MA 298
+Added: The Westin Copley Place, Boston (1) November 30, 2018 Boston, MA 803
+Added: W Boston June 8, 2011 Boston, MA 238
+Added: The Roger New York (1) November 30, 2018 New York, NY 194
+Added: Hotel Vintage Portland July 9, 2012 Portland, OR 117
+Added: The Heathman Hotel November 30, 2018 Portland, OR 151
+Added: The Hotel Zags August 28, 2013 Portland, OR 174
+Added: The Nines, a Luxury Collection Hotel, Portland July 17, 2014 Portland, OR 331
+Added: Sofitel Philadelphia at Rittenhouse Square December 3, 2010 Philadelphia, PA 306
+Added: Hotel Monaco Seattle April 7, 2011 Seattle, WA 189
+Added: Hotel Vintage Seattle July 9, 2012 Seattle, WA 125
+Added: Skamania Lodge November 3, 2010 Stevenson, WA 260
Total number of guest rooms 13,236
−Removed: (1) This property is subject to a long-term ground or air rights lease.
−Removed: (2) This property is subject to a long-term hotel lease.
+Added: (1) This property is subject to a long-term ground, air rights or hotel lease.
(2) The restaurant facility at this property is subject to a ground lease.
−Removed: (4) This property is closed for renovation as of December 31, 2019 and is expected to re-open in the second quarter as Hotel Zena.
(3) We own a 99.99% controlling interest in this property.
Hotel Managers and Hotel Management Agreements
−Removed: We are a party to hotel management agreements with Access Hotels and Resorts, AccorHotels, Benchmark Hotels and Resorts, CoralTree Hospitality Group, Davidson Hotels and Resorts, HEI Hotels and Resorts, Highgate, Hyatt, InterContinental Hotels Group, JRK Property Holdings, Kimpton Hotels and Restaurants, Marriott International, Noble House Hotels & Resorts, OLS Hotels and Resorts, Provenance Hotels, Pyramid Hotel Group, Sage Hospitality, sbe Hotel Group, Schulte Hospitality Group and Viceroy Hotel Group.
+Added: We are a party to hotel management agreements with Access Hotels and Resorts, AccorHotels, Benchmark Hotels and Resorts, CoralTree Hospitality Group, Davidson Hotels and Resorts, HEI Hotels and Resorts, Highgate, Hyatt, JRK Property Holdings, Kimpton Hotels and Restaurants, Marriott International, Noble House Hotels & Resorts, Provenance Hotels, Sage Hospitality, sbe Hotel Group, Schulte Hospitality Group, Springboard Hospitality and Viceroy Hotel Group.
Our management agreements generally have the terms described below:
8 unchanged sentences
• Ability to Terminate.
−Removed: Many of our management agreements are terminable at will by us upon payment of a termination fee and some are terminable upon sale of the property.
+Added: The majority of our management agreements are terminable at will by us upon payment of a termination fee and some are terminable upon sale of the property.
Most of the agreements also provide us the ability to terminate based on failure to achieve defined operating performance thresholds.
4 unchanged sentences
Each manager supervises all managerial and other hotel employees, reviews hotel operation and maintenance, prepares reports, budgets and projections, and provides other administrative and accounting support services for the hotel.
−Removed: Under certain management agreements, we have approval rights over certain key management personnel at the hotel.
+Added: Under certain management agreements, we have approval rights over the hiring of certain key management personnel at the hotel.
• Chain Services.
2 unchanged sentences
the development and operation of computer systems and reservation services;
−Removed: management and administrative
+Added: management and administrative services;
marketing and sales services;
7 unchanged sentences
Our management agreements generally provide that once a year the managers will prepare a list of furniture, fixtures and equipment to be acquired and certain routine capital repairs to be performed in the following year and an estimate of funds that are necessary for our review and approval.
−Removed: To fund the furniture, fixtures and equipment replacements, a specified percentage of the gross revenues of each hotel (typically 4.0% ) is either deposited by the manager in an escrow account or held by us, as owner.
+Added: To fund the furniture, fixtures and equipment replacements, a specified percentage of the gross revenues of each hotel (typically 4.0%) is either deposited by the manager with our funds or out of the property's cash flow in an escrow account or held by us, as owner.
• Building Alterations, Improvements and Renewals.
7 unchanged sentences
Franchise or sub-license fees for room revenues are approximately one to five percent of gross room revenues.
+Added: Some of these agreements provide us with termination rights.
The agreements for the respective hotels expire as follows:
−Removed: Expiration Date
−Removed: Hilton San Diego Mission Bay Resort
−Removed: December 31, 2019
−Removed: Le Meridien Delfina Santa Monica
−Removed: September 2033
−Removed: Embassy Suites San Diego Bay - Downtown
−Removed: The Nines, a Luxury Collection Hotel, Portland
−Removed: Hotel Colonnade Coral Gables, Autograph Collection
−Removed: Union Station Hotel Nashville, Autograph Collection
−Removed: The Liberty, A Luxury Collection Hotel, Boston
−Removed: Hilton San Diego Gaslamp Quarter
−Removed: Hotel Chicago Downtown, Autograph Collection
−Removed: February 2034
−Removed: Paradise Point Resort & Spa
−Removed: 15th anniversary after hotel is re-branded as a Margaritaville
+Added: Property Expiration Date
+Added: Le Meridien Delfina Santa Monica September 2033
+Added: Embassy Suites San Diego Bay - Downtown January 2028
+Added: The Nines, a Luxury Collection Hotel, Portland October 2033
+Added: Hotel Colonnade Coral Gables, Autograph Collection April 2039
+Added: The Liberty, A Luxury Collection Hotel, Boston January 2036
+Added: Hilton San Diego Gaslamp Quarter April 2021
+Added: Hotel Chicago Downtown, Autograph Collection February 2034
+Added: Paradise Point Resort & Spa 15th anniversary after hotel is re-branded as a Margaritaville
+Added: Solamar Hotel 15th anniversary after hotel is re-branded as a Margaritaville
Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.