Chesapeake Lodging is a self-advised real estate investment trust. Co. is focused on investments primarily in upper-upscale hotels in business and convention markets and, on a selective basis, premium select-service hotels in urban settings. Substantially all of Co.'s assets are held by, and all of its operations are conducted through, Chesapeake Lodging, L.P. (the Operating Partnership), which is wholly owned by Co. The Operating Partnership leases its hotels to CHSP TRS LLC (CHSP TRS), which is a wholly owned subsidiary of the Operating Partnership. CHSP TRS engages hotel management companies to operate the hotels pursuant to management agreements. As of Dec 31 2012, Co. owned 15 hotels.
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