Website: N/A
Stock Symbol: NYSE: LHO
Market Value: N/A (in millions)

The Company was organized as a Maryland real estate investment trust on January 15, 1998 to buy, own, redevelop and lease upscale and luxury full-service hotels located in convention, resort and major urban business markets. As of December 31, 2007, the Company owned interests in 31 hotels with approximately 8,500 rooms/suites located in 11 states and the District of Columbia. Independent hotel operators manage the hotels. The Company is a self-managed and self-administered real estate investment trust (“REIT”) as defined in the Internal Revenue Code of 1986, as amended (the “Code”). A REIT is a legal entity that holds real estate interests, and that may reduce its federal taxable income to the extent it distributes taxable dividends to its shareholders.

Substantially all of the Company’s assets are held by, and all of its operations are conducted through, the Operating Partnership. The Company is the sole general partner of the Operating Partnership.