The group’s principal activity is to operate as a self-managed and self-administered real estate investment trust (REIT). The group’s lodging portfolio consisted of 119 luxury and upper upscale hotels containing approximately 63,900 rooms. Additionally, the group owns a 32.1% interest in a European joint venture that owns 10 luxury and upper-upscale hotels located in Italy, Spain, Poland, Belgium and the United Kingdom with approximately 3,200 rooms.
