For The Six Months Ended June 30, 2007 INTRODUCTION FORWARD-LOOKING INFORMATION VISION, CORE BUSINESS AND STRATEGY BASIS OF PRESENTATION CRITICAL ACCOUNTING POLICIES AND ESTIMATES RESULTS OF OPERATIONS Continuing operations Discontinued operations Summary of quarterly results Summary of quarterly results – per share information FINANCIAL POSITION Income-Producing Properties and Assets Held for Sale Working Capital Debt Liquidity and Capital Resources Off-balance sheet arrangements Share Capital Non-capital resources RELATED PARTY TRANSACTIONS RISK MANAGEMENT Hospitality Industry Financial Instrument Risk Labour Risk Environmental Risk INVESTOR RELATIONS ADDITIONAL INFORMATION For The three Months Ended March 31, 2007 INTRODUCTION FORWARD-LOOKING INFORMATION VISION, CORE BUSINESS AND STRATEGY BASIS OF PRESENTATION CRITICAL ACCOUNTING POLICIES AND ESTIMATES RESULTS OF OPERATIONS Continuing operations Discontinued operations Summary of quarterly results Summary of quarterly results – per share information FINANCIAL POSITION Income-Producing Properties and Assets Held for Sale Working Capital Debt Liquidity and Capital Resources Off-balance sheet arrangements Share Capital Non-capital resources RELATED PARTY TRANSACTIONS RISK MANAGEMENT Hospitality Industry Financial Instrument Risk Labour Risk Environmental Risk INVESTOR RELATIONS ADDITIONAL INFORMATION For The Twelve Months Ended December 31, 2006 INTRODUCTION FORWARD-LOOKING INFORMATION VISION, CORE BUSINESS AND STRATEGY BASIS OF PRESENTATION CRITICAL ACCOUNTING POLICIES AND ESTIMATES RESULTS OF OPERATIONS Continuing operations Discontinued operations Summary of quarterly results Summary of quarterly results – per share information FINANCIAL POSITION Income-Producing Properties and Assets Held for Sale Working Capital Debt Liquidity and Capital Resources Off-balance sheet arrangements Share Capital Non-capital resources RELATED PARTY TRANSACTIONS RISK MANAGEMENT Hospitality Industry Financial Instrument Risk Labour Risk Environmental Risk INVESTOR RELATIONS ADDITIONAL INFORMATION For The Nine Months Ended September 30, 2006 INTRODUCTION FORWARD-LOOKING INFORMATION VISION, CORE BUSINESS AND STRATEGY BASIS OF PRESENTATION CRITICAL ACCOUNTING POLICIES AND ESTIMATES RESULTS OF OPERATIONS Continuing operations Discontinued operations Summary of quarterly results Summary of quarterly results – per share information FINANCIAL POSITION Income-Producing Properties and Assets Held for Sale Working Capital Debt Liquidity and Capital Resources Off-balance sheet arrangements Share Capital Non-capital resources RELATED PARTY TRANSACTIONS RISK MANAGEMENT Hospitality Industry Financial Instrument Risk Labour Risk Environmental Risk INVESTOR RELATIONS ADDITIONAL INFORMATION For The Six Months Ended June 30, 2006 INTRODUCTION FORWARD-LOOKING INFORMATION VISION, CORE BUSINESS AND STRATEGY BASIS OF PRESENTATION CRITICAL ACCOUNTING POLICIES AND ESTIMATES RESULTS OF OPERATIONS Continuing operations Discontinued operations Summary of quarterly results Summary of quarterly results – per share information FINANCIAL POSITION Income-Producing Properties and Assets Held for Sale Working Capital Debt Liquidity and Capital Resources Off-balance sheet arrangements Share Capital Non-capital resources RELATED PARTY TRANSACTIONS RISK MANAGEMENT Hospitality Industry Financial Instrument Risk Labour Risk Environmental Risk INVESTOR RELATIONS ADDITIONAL INFORMATION For The Three Months Ended March 31, 2006 INTRODUCTION FORWARD-LOOKING INFORMATION VISION, CORE BUSINESS AND STRATEGY BASIS OF PRESENTATION CRITICAL ACCOUNTING POLICIES AND ESTIMATES RESULTS OF OPERATIONS Continuing operations Discontinued operations Summary of quarterly results Summary of quarterly results – per share information FINANCIAL POSITION Income-Producing Properties and Assets Held for Sale Working Capital Debt Liquidity and Capital Resources Off-balance sheet arrangements Share Capital Non-capital resources RELATED PARTY TRANSACTIONS RISK MANAGEMENT Hospitality Industry Financial Instrument Risk Labour Risk Environmental Risk INVESTOR RELATIONS ADDITIONAL INFORMATION For The Twelve Months Ended December 31, 2005 INTRODUCTION FORWARD-LOOKING INFORMATION VISION, CORE BUSINESS AND STRATEGY BASIS OF PRESENTATION CRITICAL ACCOUNTING POLICIES AND ESTIMATES RESULTS OF OPERATIONS Continuing operations Discontinued operations Summary of quarterly results Summary of quarterly results – per share information FINANCIAL POSITION Income-Producing Properties and Assets Held for Sale Investments Working Capital Debt Liquidity and Capital Resources Off-balance sheet arrangements Share Capital Non-capital resources RELATED PARTY TRANSACTIONS RISK MANAGEMENT Hospitality Industry Financial Instrument Risk Labour Risk Environmental Risk INVESTOR RELATIONS ADDITIONAL INFORMATION For The Nine Months Ended September 30, 2005 INTRODUCTION FORWARD-LOOKING INFORMATION VISION, CORE BUSINESS AND STRATEGY BASIS OF PRESENTATION CRITICAL ACCOUNTING POLICIES AND ESTIMATES RESULTS OF OPERATIONS Continuing operations Discontinued operations Summary of quarterly results Summary of quarterly results – per share information FINANCIAL POSITION Income-Producing Properties and Assets Held for Sale Investments Working Capital Debt Liquidity and Capital Resources Off-balance sheet arrangements Share Capital Non-capital resources RELATED PARTY TRANSACTIONS RISK MANAGEMENT Hospitality Industry Financial Instrument Risk Labour Risk Environmental Risk INVESTOR RELATIONS ADDITIONAL INFORMATION For The Six Months Ended June 30, 2005 INTRODUCTION FORWARD-LOOKING INFORMATION VISION, CORE BUSINESS AND STRATEGY BASIS OF PRESENTATION CRITICAL ACCOUNTING POLICIES AND ESTIMATES RESULTS OF OPERATIONS Continuing operations Discontinued operations Summary of quarterly results Summary of quarterly results – per share information FINANCIAL POSITION Income-Producing Properties and Assets Held for Sale Investments Working Capital Debt Liquidity and Capital Resources Off-balance sheet arrangements Share Capital Non-capital resources RELATED PARTY TRANSACTIONS RISK MANAGEMENT Hospitality Industry Financial Instrument Risk Labour Risk Environmental Risk INVESTOR RELATIONS ADDITIONAL INFORMATION For The Three Months Ended March 31, 2005 INTRODUCTION FORWARD-LOOKING INFORMATION VISION, CORE BUSINESS AND STRATEGY BASIS OF PRESENTATION CRITICAL ACCOUNTING POLICIES AND ESTIMATES RESULTS OF OPERATIONS Continuing operations Discontinued operations Summary of quarterly results Summary of quarterly results – per share information FINANCIAL POSITION Income-Producing Properties and Assets Held for Sale Investments Working Capital Debt Liquidity and Capital Resources Off-balance sheet arrangements Share Capital Non-capital resources RELATED PARTY TRANSACTIONS RISK MANAGEMENT Hospitality Industry Financial Instrument Risk Labour Risk Environmental Risk INVESTOR RELATIONS ADDITIONAL INFORMATION For The Twelve Months Ended December 31, 2004 INTRODUCTION VISION, CORE BUSINESS AND STRATEGY BASIS OF PRESENTATION CRITICAL ACCOUNTING POLICIES AND ESTIMATES CHANGE IN ACCOUNTING POLICY, INCLUDING INITIAL ADOPTION SELECTED ANNUAL INFORMATION RESULTS OF OPERATIONS Continuing operations Discontinued operations Summary of quarterly results Summary of quarterly results – per share information FINANCIAL POSITION Income-Producing Properties and Assets Held for Sale Investments Working Capital Debt Liquidity and Capital Resources Off-balance sheet arrangements Share Capital Non-capital resources RELATED PARTY TRANSACTIONS RISK MANAGEMENT Hospitality Industry Financial Instrument Risk Labour Risk Environmental Risk INVESTOR RELATIONS ADDITIONAL INFORMATION For The Nine Months Ended September 30, 2004 INTRODUCTION VISION, CORE BUSINESS AND STRATEGY BASIS OF PRESENTATION CRITICAL ACCOUNTING POLICIES AND ESTIMATES RESULTS OF OPERATIONS FINANCIAL POSITION Income-Producing Properties Investments Working Capital Debt Liquidity and Capital Resources Share Capital Non-capital resources RELATED PARTY TRANSACTIONS RISK MANAGEMENT Hospitality Industry Financial Instrument Risk Labour Risk Environmental Risk INVESTOR RELATIONS ADDITIONAL INFORMATION For The Six Months Ended June 30, 2004 INTRODUCTION VISION, CORE BUSINESS AND STRATEGY BASIS OF PRESENTATION CRITICAL ACCOUNTING POLICIES AND ESTIMATES RESULTS OF OPERATIONS FINANCIAL POSITION Income-Producing Properties Investments Working Capital Debt Liquidity and Capital Resources Share Capital RELATED PARTY TRANSACTIONS RISK MANAGEMENT Hospitality Industry Financial Instrument Risk Labour Risk Environmental Risk INVESTOR RELATIONS ADDITIONAL INFORMATION For The Six Months Ended June 30, 2004 As at August 18, 2004 VISION, CORE BUSINESS AND STRATEGY BASIS OF PRESENTATION RESULTS OF OPERATIONS FINANCIAL POSITION Income-Producing Properties Investments Working Capital Debt Liquidity and Capital Resources Share Capital RELATED PARTY TRANSACTIONS RISK MANAGEMENT Hospitality 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