A small percentage decline in our revenues or increase in our expenses could have a material negative impact upon our operating results.

For the year ended December 31, 2006, our revenues were $827.3 million and our operating expenses were $941.8 million (including our SLS termination expense of approximately $129.9 million related to 17 management agreements). A small percentage decline in our revenues or increase in our expenses could have a material negative impact upon our operating results.