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This excerpt taken from the BXP 8-K filed Jan 27, 2010. Hotel Properties
This excerpt taken from the BXP 8-K filed Oct 27, 2009. Hotel Properties
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Boston Properties, Inc. Third Quarter 2009
This excerpt taken from the BXP 8-K filed Jul 21, 2009. Hotel Properties
This excerpt taken from the BXP 8-K filed Apr 30, 2009. Hotel Properties
This excerpt taken from the BXP 8-K filed Jan 29, 2009. Hotel Properties
This excerpt taken from the BXP 8-K filed Jul 23, 2008. Hotel Properties
20
Boston Properties, Inc. Second Quarter 2008
This excerpt taken from the BXP 8-K filed Apr 30, 2008. Hotel Properties
This excerpt taken from the BXP 8-K filed Oct 24, 2007. Hotel Properties
This excerpt taken from the BXP 8-K filed Jul 25, 2007. Hotel Properties
20
Boston Properties, Inc. Second Quarter 2007
This excerpt taken from the BXP 8-K filed Apr 25, 2007. Hotel Properties
This excerpt taken from the BXP 10-K filed Mar 1, 2007. The Hotel Properties
We operate our two hotel properties through a taxable REIT subsidiary (“TRS”). The TRS, a wholly-owned subsidiary of BPLP, is the lessee pursuant to leases for each of the hotel properties. As lessor, BPLP is entitled to a percentage of gross receipts from the hotel properties. The hotel leases allow all the economic benefits of ownership to flow to us. Marriott International, Inc. continues to manage the hotel properties under the Marriott name and under terms of the existing management agreements. Marriott has been engaged under separate long-term incentive management agreements to operate and manage each of the hotels on behalf of the TRS. In connection with these arrangements, Marriott has agreed to operate and maintain the hotels in accordance with its system-wide standard for comparable hotels and to provide the hotels with the benefits of its central reservation system and other chain-wide programs and services. Under a separate management agreement for each hotel, Marriott acts as the TRS’ agent to supervise, direct and control the management and operation of the hotel and receives as compensation base management fees that are calculated as a percentage of the hotel’s gross revenues, and supplemental incentive fees if the hotel exceeds negotiated profitability breakpoints. In addition, the TRS compensates Marriott, on the basis of a formula applied to the hotel’s gross revenues, for certain system-wide services provided by Marriott, including central reservations, marketing and training. During 2006, 2005 and 2004, Marriott received an aggregate of approximately $4.7 million, $4.2 million and $4.0 million, respectively, under the management agreements.
This excerpt taken from the BXP 8-K filed Jan 30, 2007. Hotel Properties
This excerpt taken from the BXP 8-K filed Oct 25, 2006. Hotel Properties
This excerpt taken from the BXP 8-K filed Jul 27, 2006. Hotel Properties
This excerpt taken from the BXP 8-K filed Apr 26, 2006. Hotel Properties
This excerpt taken from the BXP 10-K filed Mar 16, 2006. The Hotel Properties
On November 4, 2005, we sold our Residence Inn by Marriott® at Six Cambridge Center, leaving us with two hotel properties. We operate our two hotel properties through a taxable REIT subsidiary (“TRS”). The TRS, a wholly-owned subsidiary of BPLP, is the lessee pursuant to leases for each of the hotel properties. As lessor, BPLP is entitled to a percentage of gross receipts from the hotel properties. The hotel leases allow all the economic benefits of ownership to flow to us. Marriott® International, Inc. continues to manage the hotel properties under the Marriott® name and under terms of the existing management agreements. Marriott has been engaged under separate long-term incentive management agreements to operate and manage each of the hotels on behalf of the TRS. In connection with these arrangements, Marriott has agreed to operate and maintain the hotels in accordance with its system-wide standard for comparable hotels and to provide the hotels with the benefits of its central reservation system and other chain-wide programs and services. Under a separate management agreement for each hotel, Marriott acts as the TRS’ agent to supervise, direct and control the management and operation of the hotel and receives as compensation base management fees that are calculated as a percentage of the hotel’s gross revenues, and supplemental incentive fees if the hotel exceeds negotiated profitability breakpoints. In addition, the TRS compensates Marriott, on the basis of a formula applied to the hotel’s gross revenues, for certain system-wide services provided by Marriott, including central reservations, marketing and training. During 2005, 2004 and 2003, Marriott received an aggregate of approximately $4.2 million, $4.0 million and $3.4 million, respectively, under the management agreements.
This excerpt taken from the BXP 8-K filed Jan 31, 2006. Hotel Properties (7)
This excerpt taken from the BXP 8-K filed Oct 26, 2005. Hotel Properties
19
Boston Properties, Inc. Third Quarter 2005
This excerpt taken from the BXP 8-K filed Apr 27, 2005. Hotel Properties
This excerpt taken from the BXP 10-K filed Mar 15, 2005. The Hotel Properties
We own our three hotel properties through a taxable REIT subsidiary (“TRS”). The TRS, a wholly-owned subsidiary of BPLP, is the lessee pursuant to leases for each of the hotel properties. As lessor, BPLP is entitled to a percentage of gross receipts from the hotel properties. The hotel leases allow all the economic benefits of ownership to flow to us. Marriott® International, Inc. continues to manage the hotel properties under the Marriott® name and under terms of the existing management agreements. Marriott has been engaged under
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Table of Contentsseparate long-term incentive management agreements to operate and manage each of the hotels on behalf of the TRS. In connection with these arrangements, Marriott has agreed to operate and maintain the hotels in accordance with its system-wide standard for comparable hotels and to provide the hotels with the benefits of its central reservation system and other chain-wide programs and services. Under a separate management agreement for each hotel, Marriott acts as the TRS’ agent to supervise, direct and control the management and operation of the hotel and receives as compensation base management fees that are calculated as a percentage of the hotel’s gross revenues, and supplemental incentive fees if the hotel exceeds negotiated profitability breakpoints. In addition, the TRS compensates Marriott, on the basis of a formula applied to the hotel’s gross revenues, for certain system-wide services provided by Marriott, including central reservations, marketing and training. During 2004, 2003 and 2002, Marriott received an aggregate of approximately $4.0 million, $3.4 million and $5.5 million, respectively, under all three management agreements.
This excerpt taken from the BXP 8-K filed Jan 26, 2005. Hotel Properties
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