Exhibit 23.3


               CONSENT OF ERNST & YOUNG LLP, INDEPENDENT AUDITORS

We consent to the reference to our firm under the caption "Experts" in the
Registration Statement (Form S-4 Nos. 333-47737 and 333-47737-01) and related
Prospectus of Meditrust Corporation and Meditrust Operating Company for the
registration of shares of its common stock and to the incorporation by
reference therein of our report dated December 1, 1997, with respect to its
consolidated financial statements and schedules of Cobblestone Holdings, Inc.
included in Meditrust Corporation and Meditrust Operating Company's Current
Report on Form 8-K dated May 13, 1998, filed with the Securities and Exchange
Commission.




                                                 /s/ ERNST & YOUNG LLP
                                                 ERNST & YOUNG

San Diego, California
May 13, 1998