Objection Deadline: May 20, 2011 at 4:00 PM Prevailing Eastern Time

Brad Eric Scheler, Esq. Bonnie Steingart, Esq. FRIED, FRANK, HARRIS, SHRIVER & JACOBSON LLP One New York Plaza New York, New York 10004 Telephone: (212) 859-8000 Facsimile: (212) 859-4000 Attorneys for the Independent Committee UNITED STATES BANKRUPTCY COURT SOUTHERN DISTRICT OF NEW YORK In re: INNKEEPERS USA TRUST, et al.,1 Debtors. ) ) ) ) ) ) ) ) Chapter 11 Case No. 10-13800 (SCC) Jointly Administered

MONTHLY APPLICATION OF FRIED, FRANK, HARRIS, SHRIVER & JACOBSON LLP FOR COMPENSATION FOR SERVICES AND REIMBURSEMENT OF EXPENSES AS ATTORNEYS FOR THE INDEPENDENT COMMITTEE FOR THE PERIOD FROM MARCH 1, 2011 THROUGH MARCH 31, 2011

The list of Debtors in these Chapter 11 Cases along with the last four digits of each Debtors federal tax identification number can be found by visiting the Debtors restructuring website at www.omnimgt.com/innkeepers or by contacting Omni Management Group, LLC at Innkeepers USA Trust c/o Omni Management Group, LLC, 16161 Ventura Boulevard, Suite C, PMB 606, Encino, California 91436. The location of the Debtors corporate headquarters and the service address for their affiliates is: c/o Innkeepers USA, 340 Royal Poinciana Way, Suite 306, Palm Beach, Florida 33480.

SUMMARY Name of Applicant: Fried, Frank, Harris, Shriver & Jacobson LLP (Fried Frank) Independent Committee Order entered on November 10, 2010 retaining Fried, Frank, Harris, Shriver & Jacobson LLP, nunc pro tunc to September 10, 2010 March 1, 2011 through March 31, 2011 $305,500.00

Authorized to Provide Professional Services to: Date of Retention:

Period for which compensation and reimbursement is sought: Amount of Compensation sought as actual and necessary: Amount of Expense Reimbursement sought as actual and necessary:

$13,624.38

This is Fried Franks sixth monthly application for compensation (the Application) filed pursuant to the Order Authorizing the Establishment of Procedures for Interim Compensation and Reimbursement of Expenses for Professionals and Official Committee Members [Docket No. 189] (the Interim Compensation Order). Fried Frank requests: (a) payment of compensation in the amount of $244,400.00 (80% of $305,500.00 of fees) on account of actual and necessary professional services rendered to the Independent Committee by Fried Frank; and (b) reimbursement of actual and necessary costs and expenses in the amount of $13,624.38 (representing 100% of expenses) incurred by Fried Frank during the period from March 1, 2011 through March 31, 2011 (the Fee Period). Contemporaneous time records are attached hereto as Exhibit A. The Fried Frank attorneys and paraprofessionals who rendered services in the abovecaptioned chapter 11 cases (the Chapter 11 Cases) during the Fee Period are:
Attorney Position with the Applicant Year Admitted Department Hourly Billing Rate Total Billed Hours Total Compensation

Brad Eric Scheler Bonnie Steingart Laraine Rothenberg Mindy Meyers Matthew Roose Peter Siroka Jon Finelli Gabriel Libhart Cedrick MendozaTolentino Stephanie Matko Totals

Partner Partner Partner Associate Associate Associate Associate Associate Associate Law Clerk

1981 1986 1972

2006 2006 2007 2007 2010 2011

Restructuring Restructuring Employee Benefits Employee Benefits Restructuring Restructuring Restructuring Restructuring Restructuring Employee Benefits

$1,100.00 $970.00 $970.00

54.50 138.60 .50

$59,950.00 $134,442.00 $485.00

$610.00 $580.00 $580.00 $550.00 $460.00 $395.00 $395.00

2.60 93.40 3.40 2.00 84.60 28.40 4.20 412.20

$1,586.00 $54,172.00 $1,972.00 $1,100.00 $38,916.00 $11,218.00 $1,659.00 $305,500.00

Total of Fees Sought in the Application

$305,500.00

Expense Summary Category Messenger Service and Postage Court Reporting Data Research Duplicating Meals Travel, Airfare, and Other Transportation Telephone, Teleconferencing Total Total of Expenses Sought in the Application Amount $43.30 $8,080.55 $295.41 $676.10 $463.24 $1,582.21 $2,483.57 $13,624.38 $13,624.38

Compensation by Matter
Matter Number 2 3 4 5 6 7 8 Totals Matter Description Communications with Independent Committee Board Meetings Hearings and Court Issues Plan Process Communications with Creditors and Interest Holders Retention and Fee Application Issues Litigation Relating to Plan Process Total Billed Hours 41.80 95.40 42.20 72.20 9.20 1.90 149.50 412.20 Total Fees Requested $35,338.00 $71,102.50 $33,973.00 $52,772.50 $8,128.00 $1,570.00 $102,616.00 $305,500.00

Total Fees for All Matters Total Expenses Total Fees and Expenses Sought in the Application

$305,500.00 $13,624.38 $319,124.38

Notice

Fried Frank has provided notice of this Application to: (a) the Debtors; (b) the Office of the United States Trustee for the Southern District of New York; (c) counsel to the Official Committee of Unsecured Creditors; (d) counsel to Midland Loan Services, Inc.; and (e) counsel to Certain Prepetition Lenders (each as defined in the Interim Compensation Order). In light of the nature of the relief requested, Fried Frank respectfully submits that no further notice is necessary.

WHEREFORE, pursuant to the Interim Compensation Order, Fried Frank requests: (a) payment of compensation in the amount of $244,400.00 (80% of $305,500.00 of fees) on account of actual and necessary professional services rendered to the Independent Committee by Fried Frank; and (b) reimbursement of actual and necessary costs and expenses in the amount of $13,624.38.

New York, New York Dated: April 29, 2011

/s/ Bonnie Steingart Brad Eric Scheler, Esq. Bonnie Steingart, Esq. FRIED, FRANK, HARRIS, SHRIVER & JACOBSON LLP One New York Plaza New York, New York 10004 Telephone: (212) 859-8000 Facsimile: (212) 859-4000

EXHIBIT A

8111049

Invoice No: 148255

Fried, Frank, Harris, Shriver & Jacobson llP
One New York Plaza New York, New York 10004-1980 Tel: +1.212.859.8000 Fax: +1.212.859.4000 www.friedfrank.com Tax ID No. 13-5344867

April29, 2011 Innkeepers USA Trust 340 Royal Poinciana Way Suite 306 Palm Beach, Florida 33480 Attn: Marc Beilinson

For Professional Services Rendered

For the period from March 1, 2011 to March 31, 2011 Fees ................................................................................................. . Ancillary Services .......................................................................... . Total ................................................................................................ . $ $ 305,500.00 13,624.38 $319,124.38

For CbnvenlenCE you may wire your payments tn: Otibank, NA., 666 Fifth Avenue, New York NY 10103 PSA No. 021000089 ACCXJUnt No. 02095111
New York Washington DC London Paris Frankfurt Hong Kong Shanghai Fried. Frank, Harris. Shriver & Jacobson LLP is a Delaware Limited Liability Partnership

8112110

Fried, Frank, Harris, Shriver &Jacobson LLP Client: 033322 Independent Comm of Bd of Trustees of Innkeepers USA Trust Matter: 00002 Communications with Independent Committee

Time Detail
Date 03101111 03101111 03/01111 03102111 03102111 03103111 Timekeeper Matthew Roose Matthew Roose Matthew Roose Brad E. Scheler Bonnie Steingart Matthew Roose Description Emails with F. Kleisner re: stalking horse motion objections. Tic with L. Ruisi and A. Sathy re: updates. Prepare and revise summary chart of objections (1.7); emails to Independent Committee re: same (.1 ). Tics with L. Ruisi (1.2); related follow up (.8). Tics with L. Ruisi (1.2) and related follow up (1.3). Multiple tic and emails re: revised Five Mile/Lehman offers (.7); emails and tic with B. Scheler and B. Steingart re: same (.5); emails with Independent Committee re: same (.3). Tic with L. Ruisi re: L. Ruisi declaration. Tic with B. Zuroff re: update. Meeting with M. Roose and L. Ruisi re: revised bid. Meeting with B. Steingart and L. Ruisi re: revised bid. Multiple tic wl L. Ruisi (1.4); emails and follow up re: bids (.6). Multiple tic wl L. Ruisi re: update. Hours 0.20 0.70 1.80 2.00 2.50 1.50 Amount 116.00 406.00 1,044.00 2,200.00 2,425.00 870.00

03/04/11 03/05/11 03/09/11 03109111 03110111 03/10111 03114111 03114111 03118111 03118111 03119111 03121111

Gabriel Libhart Gabriel Libhart Bonnie Steingart Matthew Roose Brad E. Scheler Bonnie Steingart Brad E. Scheler Bonnie Steingart Bonnie Steingart Gabriel Libhart Brad E. Scheler Brad E. Scheler

0.20 0.30 0.70 0.70 2.00 1.40 1.00 2.30 1.40 0.20 1.00 1.60

92.00 138.00 679.00 406.00 2,200.00 1,358.00 1,100.00 2,231.00 1,358.00 92.00 1,100.00 1,760.00

03121111 03121111 03121111 03121111 03121111

Bonnie Steingart Bonnie Steingart Laraine Rothenberg Mindy Meyers Peter Siroka

Tic with B. Steingart and L. Ruisi re: next steps. Review issues and correspondence re: next steps (1.3); tic with B. Scheler and L. Ruisi re: same (1.0). Prepare materials for IC re: bids. Review correspondence and proposal re: executive compensation. Attention to open issues re: CRO compensation and alternate proposal. Tic with L. Rothenberg, P. Siroka and M. Meyers re: CRO compensation (.4); related follow up (.9); tic with L. Ruisi (.3). Attention to issues re: CRO proposal. Tic with L. Ruisi (.3); prepare materials re: CRO compensation (.8). Tic with B. Scheler, P. Siroka and M. Meyers re: CRO compensation (.4); related follow up (.1 ). Tic with B. Scheler, L. Rothenberg and P. Siroka re: CRO compensation (.4); related follow up (.1). Tic with B. Scheler, L. Rothenberg and M. Meyers re: CRO compensation.

1.40 1.10 0.50 0.50 0.40

1,358.00 1,067.00 485.00 305.00 232.00

Fried, Frank, Harris, Shriver &Jacobson LLP Client: 033322 Independent Comm of Bd of Trustees of Innkeepers USA Trust Matter: 00002 Communications with Independent Committee

Date

Timekeeper

Description

Hours

Amount

03122111 03122111 03122111 03122/11 03123111 03124111 03124111

Brad E. Scheler Bonnie Steingart Mindy Meyers Gabriel Libhart Brad E. Scheler Brad E. Scheler Mindy Meyers

03124111 03125111 03130111 03130111 03130111 03130111 03131111

Stephanie Matko Mindy Meyers Brad E. Scheler Brad E. Scheler Bonnie Steingart Mindy Meyers Bonnie Steingart

Review materials (.6); ole wl team re: update (.4); tic wl L. Ruisi (.5); related follow-up (.5). Review materials (.6); ole wl team (.4); call wl G. Libhart (.2); call wl L. Ruisi (.5). Prepare summary chart re: CRO compensation; t/c with P. Siroka; reviewing emails re: same. Research re: CRO compensation statistics (1.9); t/c with B. Steingart (.2). Attention to open issues re: CRO compensation and alternative proposal. Attention to open issues re: CRO compensation and termination of the automatic stay. Review summary chart re: CRO compensation; ole with L. Rothenberg and S. Matko re: same; t/c with P. Siroka re: same. Research re: CRO compensation. Revise summary chart re: CRO compensation; ole with S. Matko re: same; email re: same. Attention to issues re: CRO. Tics wiiC re: update. Tics wllC re: update. Review emails re: CRO compensation. Review materials prepared by Johnson Associates re: CRO compensation. Total:

2.00 1.70 1.10 2.10 1.00 1.00 0.40

2,200.00 1,649.00 671.00 966.00 1'100.00 1'100.00 244.00

4.20 0.50 0.80 0.20 0.20 0.10 1.10 41.80

1,659.00 305.00 880.00 220.00 194.00 61.00 1,067.00 35,338.00

Fried, Frank, Harris, Shriver &Jacobson LLP Client: 033322 Independent Comm of Bd of Trustees of Innkeepers USA Trust Matter: 00003 Board Meetings

Time Detail
Date Timekeeper Description Hours Amount

03/01/11 03/01/11 03/02/11 03/02/11 03/02/11 03/02/11 03/03/11 03/03/11 03/04/11 03/04/11 03/04/11 03/04/11 03/04/11 03/04/11 03/05/11 03/05/11 03/05/11 03/05/11 03/05/11 03/05/11 03/05/11 03/05/11 03/06/11 03/06/11 03/07/11

Brad E. Scheler Bonnie Steingart Brad E. Scheler Bonnie Steingart Matthew Roose Gabriel Libhart Bonnie Steingart Matthew Roose Brad E. Scheler Bonnie Steingart Matthew Roose Gabriel Libhart Gabriel Libhart

Review letter and materials for Board call. Review materials for Board call. Board call (.7); related follow up (.3). Board call (.7); related follow up (.6). Review Board materials (1.1); Board call (.7); related follow up (.1). Board call (.7); related follow up (.1). Independent Committee call (.5); related follow up (.7). Independent Committee call (.5); emails and related follow up re: same (.6). Multiple tics with Independent Committee. Multiple tics with Independent Committee (2.7); related follow up (1.2). Multiple Independent Committee calls (2.7); multiple follow-up tics and emails re: same (1.5). Prepare for Independent Committee call (.7); Independent Committee call (.5); related follow up (.6). Prepare for Independent Committee call (.2); Independent Committee call (1.2); related follow up (.3).

1.00 1.40 1.00 1.30 1.90 0.80 1.20 1.10 2.50 3.90 4.20 1.80 1.70 1.70 0.50 3.90 1.70 1.60 1.00 1.20 0.40 0.40 0.80 6.30 1.40

1'100.00 1,358.00 1,100.00 1,261.00 1,102.00 368.00 1'164.00 638.00 2,750.00 3,783.00 2,436.00 828.00 782.00 671.50 550.00 3,783.00 986.00 736.00 460.00 552.00 184.00 158.00 368.00 2,898.00 1,358.00

Cedrick Mendoza-Tolentino Prepare minutes of Independent Committee meeting regarding stalking horse motion. Brad E. Scheler Bonnie Steingart Matthew Roose Gabriel Libhart Gabriel Libhart Gabriel Libhart Gabriel Libhart Independent Committee calls. Independent Committee calls (.5); Board call (.7); related follow up (2.7). Independent Committee calls (.4); Board call (.6); related follow up (.7). Board call (.7); related follow-up (.9). Independent Committee call (.2); related follow up (.8). Independent Committee call (.3); related follow up (.9).

Review Independent Committee call minutes. Cedrick Mendoza-Tolentino Prepare minutes from Independent Committee meeting. Review and revise C. Mendoza-Tolentino draft minutes Gabriel Libhart for Independent Committee meeting on 3/5/11. Draft minutes for Independent Committee meetings from Gabriel Libhart 3/3/11 through 3/5/11. Bonnie Steingart Review Independent Committee minutes (.8); tics and emails re: same (.6).

Fried, Frank, Harris, Shriver &Jacobson LLP Client: 033322 Independent Comm of Bd of Trustees of Innkeepers USA Trust Matter: 00003 Board Meetings

Date

Timekeeper

Description

Hours

Amount

03/07/11 03/07/11 03/08/11

Matthew Roose Gabriel Libhart Brad E. Scheler

03/08/11 03/08/11 03/08/11

Bonnie Steingart Bonnie Steingart Matthew Roose

Review and revise minutes of Independent Committee meetings (1.5); tics and emails re: same (.6). Review and revise minutes from Independent Committee meetings. Prepare for Independent Committee calls (1.1 ); Independent Committee call with Kirkland & Ellis and Moelis (1.0); Independent Committee call (.4); follow-up tic with B. Steingart and M. Roose (.5). Independent Committee call with K&E and Moelis (1.0); related follow up (.4). Independent Commitee call (.4); related follow up (.8).

2.10 1.30 3.00

1,218.00 598.00 3,300.00

1.40 1.20 2.00

1,358.00 1,164.00 1,160.00

03/08/11 03/08/11 03/08/11 03/09/11 03/09/11 03/09/11 03/09/11 03/09/11 03/10/11 03/10/11 03/10/11 03/10/11 03/17/11 03/18/11 03/18/11 03/20/11 03/20/11

Independent Committee call with Kirkland and Moelis (1.0); Independent Committee call (.4); related follow-up (.6). Revisions to Independent Committee meeting minutes Gabriel Libhart from 3/8/11 (.6); email re: same (.1). Cedrick Mendoza-Tolentino Prepare minutes of Independent Committee meetings. Cedrick Mendoza-Tolentino Draft minutes of Independent Committee meeting. Independent Committee call (.5); Board call (.8). Brad E. Scheler Independent Committee call (.5); tics and related follow up (1.9). Board call (.8); related follow up (.3). Bonnie Steingart Independent Committee call (.5); Board call (.8); related Matthew Roose follow up (.4). Cedrick Mendoza-Tolentino Prepare and revise Independent Committee meetings minutes. Independent Committee call (1.1); Board call (1.0); Brad E. Scheler related follow up (.8). Independent Committee call (1.1 ); tics and related follow Bonnie Steingart up (1.5). Board call (1.0); related follow up (.5). Bonnie Steingart Review materials re: Independent Committee (1.1) Matthew Roose Independent Committee call (1.1 ); Board call (1.0). Bonnie Steingart Bonnie Steingart Matthew Roose Gabriel Libhart Bonnie Steingart Gabriel Libhart Review minutes of Independent Committee meetings. Review and revise Independent Committee meeting minutes. Revise Independent Committee meeting minutes. Review materials re: Independent Committee call and Board call. Prepare and review materials re: Monday Independent Committee and Board meetings (2.1); emails re: same (.7). Board call. Innkeepers Committee call (.7); related follow up (.3).

0.70 0.90 0.60 1.30 2.40 1.10 1.70 1.70 2.90 2.60 1.50 3.20 1.50 2.10 0.30 1.30 2.80

322.00 355.50 237.00 1,430.00 2,328.00 1,067.00 986.00 671.50 3,190.00 2,522.00 1,455.00 1,856.00 1,455.00 1,218.00 138.00 1,261.00 1,288.00

03/21/11 03/21/11

Brad E. Scheler Brad E. Scheler

0.40 1.00

440.00 1'100.00

Fried, Frank, Harris, Shriver &Jacobson LLP Client: 033322 Independent Comm of Bd of Trustees of Innkeepers USA Trust Matter: 00003 Board Meetings

Date

Timekeeper

Description

Hours

Amount

03121111 03121111 03121111 03121111 03121111 03121111 03121111 03121111 03122111 03122111 03130111 03131111

Bonnie Steingart Bonnie Steingart Peter Siroka Peter Siroka Peter Siroka Peter Siroka Gabriel Libhart Gabriel Libhart Brad E. Scheler Bonnie Steingart Bonnie Steingart Matthew Roose

Board call (.4); related follow up (.4); ole with P. Siroka (.3). Independent Committee call (.7); related follow up (.5). Independent Committee call (.7); related follow up (.3). Board call (.4); related follow up (.1). Ole with G. Libhart (.1); related follow up (.1 ). Ole with B. Steingart re: IC meeting. Independent Committee call (.7); related follow up re: same (.4); ole with P. Siroka (.1 ); related follow up (.1 ). Board call (.4); related follow up (.4). Call re: compensation (.7); related follow up (.3). Call re: professional compensation. Review emails and documents re: Board calls. Emails and calls re: board update. Total:

1.10 1.20 1.00 0.50 0.20 0.30 1.30 0.80 1.00 0.70 1.40 0.20 95.40

1,067.00 1'164.00 580.00 290.00 116.00 174.00 598.00 368.00 1'100.00 679.00 1,358.00 116.00 71 '102.50

Fried, Frank, Harris, Shriver &Jacobson LLP Client: 033322 Independent Comm of Bd of Trustees of Innkeepers USA Trust Matter: 00004 Hearings and Court Issues

Time Detail
Date 03101111 03104111 03104/11 03104111 03104111 03107111 03107111 03107111 03110111 03110111 03110111 03110111 03111111 Timekeeper Brad E. Scheler Bonnie Steingart Matthew Roose Gabriel Libhart Gabriel Libhart Brad E. Scheler Bonnie Steingart Matthew Roose Brad E. Scheler Bonnie Steingart Matthew Roose Gabriel Libhart Brad E. Scheler Description Attention to issues re: stalking horse motion hearing. Telephone status conference with Judge Chapman. Tic status conference with Judge Chapman (.5); related follow-up (.7). Telephonic status conference with Judge Chapman (.5); related follow up (.7). Emails wl C. Mendoza-Tolentino re: hearing. Tic status conference with Judge Chapman. Tic status conference with Judge Chapman (.5); related follow up (1.2). Tic status conference with Judge Chapman (.5); ole with team re: same (.5); emails re: same (.7). Attend stalking horse motion hearing. Attend stalking horse motion hearing (2.1); related follow up (2.2). Attend stalking horse motion hearing (2.1 ); related follow-up (.6). Prepare for stalking horse motion hearing. Prepare and review materials re: stalking horse motion hearing (1.5); attend stalking horse motion hearing chambers conference and related follow up (3.5). Attention to open issues and follow up re: stalking horse motion hearing. Attend stalking horse motion hearing and related follow up. Attend stalking horse motion hearing and chambers conference (4.2); related follow-up (.8). Email to Kirkland & Ellis re: Omnibus Hearing. Prepare for Omnibus Hearing, including comments to interim fee order (1.6); emails re: same (.5). Follow-up re: hearing (.3); attention to open issues (.7). Attend Omnibus Hearing (1.3); related follow up (.2). Total: Hours 1.00 0.50 1.20 1.20 0.20 0.50 1.70 1.70 2.10 4.30 2.70 4.90 5.00 Amount 1,100.00 485.00 696.00 552.00 92.00 550.00 1,649.00 986.00 2,310.00 4,171.00 1,566.00 2,254.00 5,500.00

03111111 03111111 03111111 03125/11 03128111 03/29111 03129111

Brad E. Scheler Bonnie Steingart Matthew Roose Gabriel Libhart Gabriel Libhart Brad E. Scheler Bonnie Steingart

2.00 3.50 5.00 0.10 2.10 1.00 1.50 42.20

2,200.00 3,395.00 2,900.00 46.00 966.00 1,100.00 1,455.00 33,973.00

Fried, Frank, Harris, Shriver & Jacobson LLP Client: 033322 Independent Comm of Bd ofTrustees of Innkeepers USA Trust Matter: 00005 Plan Process

Time Detail
Date Timekeeper Description Hours Amount

03/01/11 03/03/11 03/04/11 03/04/11 03/04/11

Cedrick Mendoza-Tolentino Prepare chart re: objections to stalking horse motion. Bonnie Steingart Review draft reply re: bidding procedures motion. Review pleadings of Apollo, Five Mile and Appaloosa (1.9); email summary to clients (.1 ). Emails w/ C. Mendoza-Tolentino re: pleadings Gabriel Libhart summary. Cedrick Mendoza-Tolentino Prepare email summary and review pleadings regarding stalking horse motion (2.8); emails with G. Libhart re: same (.3). Gabriel Libhart Review revised commitment letter and bid procedures. Review e-mail correspondence between various parties Gabriel Libhart re: motion. Brad E. Scheler Review materials for Innkeepers Q & A call (1.7); Innkeepers Q&A call (.7); related follow up with team (2.1). Tic Innkeepers Q&A informational call (.7); related follow up (1.3). Review revised papers and revised agreement (1.5); t/c with constituents re: Q and A on revised deal (.7); emails re: same (.6). Review revised pleading. Review revised bidding procedures order. Review blackline of commitment letter. Review alternative bid proposal. Emails re: summary of changes to CL and Bidding Procedures (1.5); email summary of alternative bid (1.3); t/c with Scheler and Steingart re: same (.5); review Moelis comparison chart (.7); review and revise summary of revised Five Mile/Lehman bid (.5); o/c with Libhart re: prep issues (.5). Draft summary of revised Five Mile/Lehman commitment (2.0); o/c with M. Roose (.5). Review issues re: alternate proposals. Review alternate proposals. Review amendment and redline of commitment letter and bidding procedures. Attention to revised bid. Review amendments and red lines of commitment letter and bidding procedures. Review overbid model. Gabriel Libhart

1.80 1.20 2.00 0.40 3.10

711.00 1,164.00 920.00 184.00 1,224.50

03/05/11 03/05/11 03/06/11

2.40 0.50 4.50

1,104.00 230.00 4,950.00

03/06/11 03/06/11

Bonnie Steingart Matthew Roose

2.00 2.80

1,940.00 1,624.00

03/06/11 03/07/11 03/07/11 03/08/11 03/08/11

Gabriel Libhart Bonnie Steingart Bonnie Steingart Bonnie Steingart Matthew Roose

1.40 1.10 1.40 1.20 5.00

644.00 1,067.00 1,358.00 1,164.00 2,900.00

03/08/11 03/09/11 03/09/11 03/09/11 03/09/11 03/10/11 03/10/11

Gabriel Libhart Bonnie Steingart Bonnie Steingart Bonnie Steingart Matthew Roose Bonnie Steingart Bonnie Steingart

2.50 0.90 1.20 2.40 0.50 2.40 1.20

1,150.00 873.00 1'164.00 2,328.00 290.00 2,328.00 1'164.00

Fried, Frank, Harris, Shriver & Jacobson LLP Client: 033322 Independent Comm of Bd of Trustees of Innkeepers USA Trust Matter: 00005 Plan Process

Date 03/10/11 03110111 03110111 03111/11 03111/11 03111111 03111111 03/11/11 03/12/11 03/14/11 03/17/11 03/17/11 03117111 03118111 03118111 03/18111 03/18/11 03/21/11 03/21111 03122111 03122111 03128111 03/28/11 03/28111 03/28/11 03/30/11 03131111 03/31/11

Timekeeper

Description

Hours 0.50 0.60 1.10 1.10 1.30 1.40 1.20 0.60 1.00 1.00 1.30 1.20 0.70 1.00 1.90 1.80 2.20 1.80 0.70 0.50 0.70 1.00 0.70 0.50 0.50 0.70 1.20 2.10 72.20

Amount 290.00 276.00 434.50 1,067.00 1,261.00 644.00 552.00 237.00 1'100.00 1,100.00 1,261.00 552.00 276.50 1,100.00 1,843.00 1,044.00 1,012.00 1,746.00 406.00 485.00 322.00 1'100.00 679.00 485.00 230.00 406.00 1'164.00 1,218.00 52,772.50

Matthew Roose Review revised Commitment Letter. Gabriel Libhart Review emails re: negotiations. Cedrick Mendoza-Tolentino Review revised Five Mile/Lehman commitment letter and bid procedures. Bonnie Steingart Review order entered regarding bidding procedures. Bonnie Steingart Review revised commitment letter. Gabriel Libhart Review emails and modified proposals. Review filed bid procedures (.3); draft email to clients re: Gabriel Libhart same (.9). Cedrick Mendoza-Tolentino Summarize of orders entered. Brad E. Scheler Attention to open issues re: stalking horse motion. Brad E. Scheler Bonnie Steingart Gabriel Libhart Attention to open issues re: stalking horse motion. Review Moelis process letter update filed by Debtor (.7); related follow up (.6).

Review Moelis process update letter filed (.4); emails re: same (.8). Cedrick Mendoza-Tolentino Review and prepare summary of process update letter. Attention to open issues re: Anaheim Hilton. Brad E. Scheler Review Anaheim Hilton proposals and related Bonnie Steingart documents. Review Anaheim Hilton proposals (1.3); emails re: same Matthew Roose (.5). Review updated offers received, including e-mails and Gabriel Libhart Moelis materials. Bonnie Steingart Peter Siroka Bonnie Steingart Gabriel Libhart Brad E. Scheler Bonnie Steingart Bonnie Steingart Gabriel Libhart Matthew Roose Bonnie Steingart Matthew Roose Review materials prepared by Moelis re: Anaheim Hilton. Review deck and materials. Review Lehman/Midland reservation of rights. Review Lehman/Midland reservations of rights (.4); emails re: same (.3). Tic with Kirkland & Ellis re: various issues (.7); related follow up (.3). Tic with Kirkland re: open issues. Review revised draft documents. Review UCC stipulation (.4); email re: same (.1). Calls and emails re: update. Review draft plan. Review plan. Total:

Fried, Frank, Harris, Shriver &Jacobson LLP Client: 033322 Independent Comm of Bd of Trustees of Innkeepers USA Trust Matter: 00006 Communications with Creditors and Interest Holders

Time Detail
Date 03/04/11 03/06/11 Timekeeper Matthew Roose Gabriel Libhart Description Attention to correspondence from Ad Hoc Committee. Review correspondence between Kirkland & Elllis, Ad Hoc Committee of Preferred Shareholders & Fried Frank. Review issues and correspondence with Ad Hoc Committee. Attention to issues re: Ad Hoc Committee. Attention to issues re: Ad Hoc Committee. Attention to open issues re: Ad Hoc Committee (.4); review correspondence (.6). Review correspondence from Ad Hoc Committee (.6); related follow-up (.8). Attention to issues re: Ad Hoc Committee. Review Ad Hoc Committee correspondence. Review email correspondence re: Ad Hoc Committee. Attention to open issues re: Ad Hoc Committee (.4); calls and emails re: same (.6). Review correspondence and open issues re: Ad Hoc Committee. Total: Hours 0.50 0.70 Amount 290.00 322.00

03/11/11 03/11/11 03/14/11 03/15/11 03/15/11 03/15/11 03/25/11 03/30/11 03/31/11 03/31/11

Bonnie Steingart Matthew Roose Matthew Roose Brad E. Scheler Bonnie Steingart Matthew Roose Gabriel Libhart Bonnie Steingart Brad E. Scheler Bonnie Steingart

1.20 0.50 0.20 1.00 1.40 0.20 0.30 1.00 1.00 1.20 9.20

1'164.00 290.00 116.00 1,100.00 1,358.00 116.00 138.00 970.00 1,100.00 1,164.00 8,128.00

Fried, Frank, Harris, Shriver & Jacobson LLP Client: 033322 Independent Comm of Bd of Trustees of Innkeepers USA Trust Matter: 00007 Retention and Fee Application Issues

Time Detail
Date 03/14/11 03/15/11 03/18/11 03/28/11 Timekeeper Matthew Roose Bonnie Steingart Matthew Roose Peter Siroka Description Communications with UST and Kirkland re: UST objection to FFHSJ fee application. Tic with U.S. Trustee (.1 }; review documents re: fee application objection (1.1 ). Calls and emails re: fee application hearing. Review fee order (.2); tic with B. Steingart re: same (.1}. Total: Hours 0.20 1.20 0.20 0.30 1.90 Amount 116.00 1,164.00 116.00 174.00 1,570.00

Fried, Frank, Harris, Shriver &Jacobson LLP Client: 033322 Independent Comm of Bd of Trustees of Innkeepers USA Trust Matter: 00008 Litigation Relating to Plan Process

Time Detail
Date Timekeeper Description Hours Amount

03/01/11 03/01/11 03/01/11 03/01/11 03/01/11 03/02/11 03/02/11 03/02/11

Bonnie Steingart Bonnie Steingart Jon Finelli Gabriel Libhart Cedrick Mendoza-Tolentino Bonnie Steingart Bonnie Steingart Matthew Roose

03/02/11 03/02/11 03/02/11 03/02/11 03/03/11

Gabriel Libhart Cedrick Mendoza-Tolentino Cedrick Mendoza-Tolentino Cedrick Mendoza-Tolentino Brad E. Scheler

03/03/11

Bonnie Steingart

03/03/11 03/03/11

Bonnie Steingart Matthew Roose

03/03/11

Matthew Roose

03/03/11 03/03/11 03/03/11

Matthew Roose Gabriel Libhart Cedrick Mendoza-Tolentino

Review deposition transcripts. Review objections to stalking horse motion. Review objections to stalking horse motion. Review chart re: depositions (1.6); review L. Eichen expert report (.5). Prepare and revise chart re: deposition transcripts. 0/cs with M. Roose re: L Ruisi affidavit (.6); prepare materials for L. Ruisi (2.2). Review documents re: directors and officers. Review and revise L. Ruisi affidavit (3.1 ); o/cs with B. Steingart re: same (.6); multiple tics and emails with L. Ruisi re: same (1.1); review M. Beilinson and W. Darrough affidavit (1.4); tic with D. Donovan and J. Landis re: update (.5); related follow-up (.8). Prepare for stalking horse motion hearing. Prepare redacted copies of minutes for stalking horse motion hearing. Review objections to stalking horse motion. Prepare and revise chart re: objections to stalking horse motion. T/cs and emails with B. Steingart and M. Roose re: objections (.8); andre: Five Mile/Lehman offer (.5); related follow up (.7). T/cs with clients and counsel (2.1); tics and emails with B. Scheler and M. Roose (1.3); tics and emails with M. Roose re: L. Ruisi affidavit (.8). Review objections to stalking horse motion. Review and revise L. Ruisi affidavit (2.5); multiple tics and emails with B. Steingart re: same (.8); multiple emails with L. Ruisi re: same (.6); review revised W. Darrough and M. Beilinson affidavits (1.4). Review omnibus reply to objections (1.7); multiple tics and emails with B. Scheler and B. Steingart re: same (.8). Prepare cross-examination preparation script (1.1); review and revise sections re: same (.4). Draft cross-examination preparation outline for L. Ruisi. Review draft of response to objection to stalking horse motion.

2.80 1.70 2.00 2.10 0.20 2.80 2.40 7.50

2,716.00 1,649.00 1,100.00 966.00 79.00 2,716.00 2,328.00 4,350.00

5.20 0.90 1.40 1.70 2.00

2,392.00 355.50 553.00 671.50 2,200.00

4.20

4,074.00

2.50 5.30

2,425.00 3,074.00

2.50

1,450.00

1.50 4.00 1.10

870.00 1,840.00 434.50

Fried, Frank, Harris, Shriver & Jacobson LLP Client: 033322 Independent Comm of Bd of Trustees of Innkeepers USA Trust Matter: 00008 Litigation Relating to Plan Process

Date

Timekeeper

Description

Hours

Amount

03/03/11 03/04/11

03/04/11 03/04/11 03/04/11

Cedrick Mendoza-Tolentino Prepare summary of In re Boston Generating for stalking horse motion hearing. Bonnie Steingart T/cs with Debtor, Kirkland & Ellis and clients (1.5); tics and emails with M. Roose re: L. Ruisi affidavit (.5); related follow up (1.4). Bonnie Steingart Prepare materials for clients re: stalking horse motion hearing. Matthew Roose Matthew Roose Review multiple revisions to omibus reply (2.5); multiple tics and emails with Kirkland re: same (.5). Review and revise L. Ruisi affidavit (1.4); tic and emails with B. Steingart (.5); emails with J. Landis re: same (.4). Revise L. Ruisi cross-examination preparation outline. Draft revisions to L. Ruisi declaration. Review documents re: stalking horse motion. Review objections to stalking horse motion. Review and revise L. Ruisi affidavit (1.2); em ails with L. Ruisi re: same (.3); tic with J. Landis re: same (.3). Review materials re: L. Ruisi affidavit (.4); emails re: same (.4). Revise L. Ruisi declaration (2.1 ); emails re: same (.8). Revise L. Ruisi declaration and emails re: same.

2.90 3.40

1,145.50 3,298.00

2.90 3.00 2.30

2,813.00 1,740.00 1,334.00

03/04/11 03/04/11 03/05/11 03/05/11 03/05/11 03/05/11 03/05/11 03/05/11 03/05/11 03/06/11 03/07/11 03/07/11 03/07/11 03/07/11 03/07/11 03/07/11 03/07/11 03/07/11 03/07/11 03/08/11 03/08/11 03/08/11

Gabriel Libhart Gabriel Libhart Bonnie Steingart Bonnie Steingart Matthew Roose Matthew Roose

2.10 0.90 3.60 1.30 1.80 0.80 2.90 0.10 0.90 2.40 1.50 2.20 1.30 2.30 4.20 7.30 1.10 2.30 0.50 1.00 1.30 1.90

966.00 414.00 3,492.00 1,261.00 1,044.00 464.00 1,334.00 46.00 355.50 2,328.00 1,650.00 2,134.00 1,261.00 1,334.00 2,436.00 3,358.00 434.50 908.50 197.50 1'100.00 1,261.00 1,843.00

Gabriel Libhart Gabriel Libhart Cedrick Mendoza-Tolentino Review and revise L. Ruisi affidavit for stalking horse motion. Review brief and affidavits. Bonnie Steingart Brad E. Scheler Bonnie Steingart Bonnie Steingart Matthew Roose Matthew Roose Gabriel Libhart Attention to open issues re: stalking horse motion hearing (1.2); emails re: same (.3).

Review materials for L. Ruisi testimony. Review supplemental declarations. Review Midland supplemental statement (.8); attention to hearing preparation (1.5). Review and revise script for cross-examination and direct testimony for L. Ruisi preparation. Prepare L. Ruisi direct examination outline and related materials.

Cedrick Mendoza-Tolentino Review and revise Independent Committee meeting minutes. Cedrick Mendoza-Tolentino Prepare and revise chronology for L. Ruisi testimony. Cedrick Mendoza-Tolentino Prepare and collect documents for L. Ruisi direct testimony Brad E. Scheler Bonnie Steingart Bonnie Steingart

Tic with A. Sathy re: open issues and related follow up. Review L. Ruisi transcript for errata. T/cs with M. Roose and D. Donovan re: L. Ruisi preparation (.5); related follow up (1.4).

Fried, Frank, Harris, Shriver &Jacobson LLP Client: 033322 Independent Comm of Bd of Trustees of Innkeepers USA Trust Matter: 00008 Litigation Relating to Plan Process

Date

Timekeeper

Description

Hours

Amount

03/08/11 03/08/11 03/08/11

Bonnie Steingart Bonnie Steingart Matthew Roose

Review revised commitment letter and bidding procedures. Prepare materials for L. Ruisi direct examination. Review and revise script for cross examination and direct testimony for Ruisi prep (1.3); call with Steingart and Donovan re: prep (.5); review K&E prep materials (.9). Attention to issues re: stalking horse motion hearing. Ole with L. Ruisi re: preparation for stalking horse motion hearing. Review additional objections to stalking horse motion.

2.40 1.50 2.70

2,328.00 1,455.00 1,566.00

03/09/11 03/09/11 03/09/11 03/09/11

Brad E. Scheler Bonnie Steingart Bonnie Steingart Matthew Roose

0.70 3.20 1.30 6.10

770.00 3,104.00 1,261.00 3,538.00

03/09/11 03/09/11 03/09/11 03/09/11 03/09/11 03/10/11

03/11/11 03/18/11 03/22/11 03/28/11 03/28/11 03/29/11

Prepare for L. Ruisi preparation (2.6); L. Ruisi preparation meeting (2.0); review supplemental objection (1.5). Gabriel Libhart Prepare materials for meeting with L. Ruisi re: direct testimony/cross-examination preparation. Gabriel Libhart Prepare L. Ruisi for direct testimony and crossexamination at stalking horse motion hearing. Cedrick Mendoza-Tolentino Prepare errata sheet for L. Ruisi re: deposition. Cedrick Mendoza-Tolentino Review L. Ruisi direct examination outline for stalking horse motion hearing. Cedrick Mendoza-Tolentino Review and summarize updated objections to stalking horse motion. Prepare for stalking horse motion hearing (.7); meeting Matthew Roose with L. Ruisi re: same (.5); attention to deposition errata sheet (.3). Review revised bid procedures order (.7); o/c with team Matthew Roose re: same (.3). Review motions re: exclusivity. Bonnie Steingart Bonnie Steingart Bonnie Steingart Gabriel Libhart Bonnie Steingart Attend to issues re: motion to extend exclusivity. Review motions and other objections to stalking horse motion. Review proposed exclusivity extension order (.4); email re: same (.2). Review documents and draft orders re: stalking horse motion. Total:

4.20 3.10 0.70 0.20 1.90 1.50

1,932.00 1,426.00 276.50 79.00 750.50 870.00

1.00 1.20 2.90 1.20 0.60 1.10 149.50

580.00 1,164.00 2,813.00 1'164.00 276.00 1,067.00 102,616.00