1
EXHIBIT 21.1
SUBSIDIARIES
Innkeepers USA Trust, a Maryland real estate investment trust
the "Company"), operates principally through two entities, (i) Innkeepers
financial Corporation, a Virginia corporation ("IFC"), which is a wholly-owned
subsidiary of the Company, and (ii) Innkeepers USA Limited Partnership, a
Virginia limited partnership (the "Partnership"), of which IFC owns an
approximately 81.9% interest. All of the Company's hotels are owned by the
partnership or subsidiary limited partnerships which are owned 99% by the
partnership and 1% by either the Company directly or corporations which are
▇▇▇▇▇-owned by the Company.