Host Hotels & Resorts operates as a self-managed and self-administered real estate investment trust. The company owns properties and conducts operations through Host Hotels & Resorts, L.P., of which the company is the sole general partner. The company's consolidated lodging portfolio consists of hotels primarily located in United States, and with several of the hotels located outside of United States in Brazil and Canada. In addition, the company owns non-controlling interests in domestic and international joint venture and a timeshare joint venture in Hawaii.

LaSalle Hotel Properties is a self-administered and self-managed real estate investment trust. The company primarily buys, owns, redevelops and leases upscale and luxury full-service hotels located in convention, resort and urban business markets.

Pebblebrook Hotel Trust is an internally managed hotel investment company. Substantially all of the company's assets are held by, and all of the operations are conducted through its Operating Partnership, Pebblebrook Hotel, L.P. The company is engaged in acquisition and investment in hotel properties located primarily in U.S. cities, including Atlanta, Boston, Chicago, Key West, Los Angeles, Miami, Nashville, Naples, New York, Philadelphia, Portland, Santa Monica, San Diego, San Francisco, Seattle and Washington, D.C., with a focus on main gateway urban markets. The company targets investments in resort properties located near its primary target markets, as well as in select destination resort markets.

Red Lion Hotels is a hospitality and leisure company primarily engaged in the franchising and ownership of hotels under the following brands: Hotel RL, Red Lion Hotels, Red Lion Inn & Suites, GuestHouse, Settle Inn, Americas Best Value Inn, Canadas Best Value Inn, Signature and Signature Inn, Knights Inn, and Country Hearth Inns & Suites. The company operates in two segments: franchised hotels, which is engaged primarily in licensing the company's brands to franchisees, and the company provides hotel owners the use of its brand and access to its marketing and central services programs; and the company operated hotel, which is engaged in guest room rentals and food and beverage offerings at owned and leased hotels.

Sunstone Hotel Investors is a real estate investment trust. The company, through its 100% controlling interest in Sunstone Hotel Partnership, LLC (the Operating Partnership), of which the company is the sole managing member, and the subsidiaries of the Operating Partnership, including Sunstone Hotel TRS Lessee, Inc. (the TRS Lessee) and its subsidiaries, is engaged in acquiring, owning, asset managing and renovating or repositioning hotel properties, and may also selectively sell hotels. Most of the company's hotels are operated under brands such as Marriott, Hilton and Hyatt. Also, the company's hotels are operated by third-party managers under long-term management agreements with the TRS Lessee or its subsidiaries.