Exhibit 10.31
Schedule
Setting Forth Information on Four Hotels
Subject to
Master Hotel Lease Agreement
Dated as of February 26, 2003
Between
Apple Hospitality Five, Inc., as Lessor, and
Apple Hospitality Five Management, Inc., as Lessee
(The Master Hotel Lease Agreement permits the addition of hotels over time by
the inclusion of new exhibits, the substance of which is set forth below)
A. BASE RENTS and COMMENCEMENT DATES
Hotel Base Rent Commencement Date
----- ---------- ------------------
Lebanon Courtyard by Marriott - New Jersey $1,310,537 September 1, 0000
Xxxxxxx Xxxxxxxxxx Xxxxxx - Xxxxxxxxxxx $1,319,609 September 1, 0000
Xxxxx Xxxx Hilton Garden Inn - Florida $1,177,426 September 3, 0000
Xxxxxxxxx Xxxxxxxx Xxxxxx - Xxxx $905,920 September 10, 2003
B. SUITE REVENUE BREAKPOINTS
Lebanon Courtyard by Marriott - New Jersey
Quarters 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013
-------- ---- ---- ---- ---- ---- ---- ---- ---- ---- ---- ----
1st Quarter $38,435 $39,204 $39,988 $40,787 $41,603 $42,435 $43,284 $44,150 $45,033 $45,933
2nd Quarter $76,870 $78,407 $79,975 $81,575 $83,206 $84,870 $86,568 $88,299 $90,065 $91,866
3rd Quarter $13,513 $115,305 $117,611 $119,963 $122,362 $124,809 $127,306 $129,852 $132,449 $135,098 $137,800
4th Quarter $47,304 $153,739 $156,814 $159,951 $163,150 $166,413 $169,741 $173,136 $176,598 $180,130 $183,733
Danbury Springhill Suites - Connecticut
Quarters 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013
-------- ---- ---- ---- ---- ---- ---- ---- ---- ---- ---- ----
1st Quarter $83,205 $84,869 $86,567 $88,298 $90,064 $91,865 $98,703 $95,577 $97,488 $99,438
2nd Quarter $166,411 $169,739 $173,134 $176,596 $180,128 $183,731 $187,405 $191,153 $194,976 $198,876
3rd Quarter $29,259 $249,616 $254,608 $259,700 $264,894 $270,192 $275,596 $281,108 $286,730 $292,465 $298,314
4th Quarter $102,406 $332,821 $339,477 $346,267 $353,192 $360,256 $367,461 $374,811 $382,307 $389,953 $397,752
Tampa Ybor Hilton Garden Inn - Florida
Quarters 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013
-------- ---- ---- ---- ---- ---- ---- ---- ---- ---- ---- ----
1st Quarter $242,269 $247,114 $252,056 $257,097 $262,239 $267,484 $272,834 $278,291 $283,856 $289,534
2nd Quarter $484,537 $494,228 $504,113 $514,195 $524,479 $534,968 $545,668 $556,581 $567,713 $579,067
3rd Quarter $92,293 $726,806 $741,342 $756,169 $771,292 $786,718 $802,453 $818,502 $834,872 $851,569 $868,601
4th Quarter $323,026 $969,075 $988,456 $1,008,225 $1,028,390 $1,048,958 $1,069,937 $1,091,336 $1,113,162 $1,135,426 $1,158,134
Cleveland Homewood Suites - Ohio
Quarters 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013
-------- ---- ---- ---- ---- ---- ---- ---- ---- ---- ---- ----
1st Quarter $179,476 $182,168 $184,900 $187,674 $190,489 $193,346 $196,247 $199,190 $202,178 $205,211
2nd Quarter $358,952 $364,336 $369,801 $375,348 $380,978 $386,693 $392,493 $398,381 $404,356 $410,422
3rd Quarter $68,372 $538,427 $546,504 $554,701 $563,022 $571,467 $580,039 $588,740 $597,571 $606,535 $615,633
4th Quarter $239,301 $717,903 $728,672 $739,602 $750,696 $761,956 $773,386 $784,987 $796,761 $808,713 $820,843
