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 the 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



San Diego, California
May 18, 1998