MD&A
Quantitative and Qualitative Disclosures About Market Risk
Financial Statements
Notes to Financial Statements
Shareholder Return Performance Graph
Quarterly Financial Data
Selected Historical Financial Data
Non-GAAP Financial Measure Reconciliation
Management’s Reports
Reports of Independent Registered Public Accounting Firm
23. RELATIONSHIP WITH MAJOR CUSTOMER
At year-end 2011 and 2010, Host Hotels & Resorts, Inc., formerly known as Host Marriott Corporation, and its affiliates (“Host”) owned or leased 127 and 146 lodging properties that we operated under long-term agreements, respectively. We recognized the following revenues (which are included in our North American Full-Service, North American Limited-Service, Luxury, and International segments) from lodging properties owned or leased over the last three years: $2,207 million in 2011, $2,036 million in 2010, and $2,096 million in 2009.
Host is also a partner in certain unconsolidated partnerships that own lodging properties that we operate under long-term agreements. As of year-end 2011 and 2010, Host was affiliated with five such properties. We recognized the following revenues (which are included in our North American Full-Service, Luxury, and International segments) from lodging properties associated with Host partnerships over the last three years: $106 million in 2011, $112 million in 2010, and $104 million in 2009.