Item 8.01. Other Events.

At the Company's annual meeting of shareholders held on May 14, 2009, the shareholders elected Arthur G. Koumantzelis, as an Independent Director in Group II, and Gerard M. Martin, as a Managing Director in Group II, for an additional three year term of office until the Company's annual shareholders' meeting in 2012 and when a successor shall have been elected and qualified. Dr. Bruce M. Gans, as an Independent Director in Group III with a term of office expiring in 2010, Barbara D. Gilmore, as an Independent Director in Group I, and Barry M. Portnoy, as a Managing Director in Group I, each with a term of office expiring in 2011 (and in each case until a successor shall have been elected and qualified) continue to serve as the Company's other directors. On May 14, 2009, the Company issued a press release announcing the preliminary results of voting by its shareholders at the annual meeting. A copy of that press release is attached hereto as Exhibit 99.1.

On May 14, 2009, the Company changed its director compensation arrangements. A summary of the Company's currently effective director compensation arrangement is filed as Exhibit 10.1 hereto and is incorporated by reference herein.

On May 14, 2009, the Company granted each of the Company's directors 7,500 common shares, par value $0.01 per share, valued at $2.36, the closing price of the Company's common shares on the NYSE AMEX on that day, pursuant to previously adopted director compensation arrangements.

Item 9.01. Financial Statements and Exhibits.

(d) Exhibits.

The Company hereby files the following exhibits:

10.1 Summary of Director Compensation

99.1 Press Release dated May 14, 2009

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