Investment In Hotel Properties (Tables)

3 Months Ended

Mar. 31, 2016

Investment In Hotel Properties [Abstract]

Investment In Hotel Properties

		March 31, 2016		December 31, 2015
Land	$	465,102	$	480,874
Buildings and Improvements		1,371,230		1,518,565
Furniture, Fixtures and Equipment		214,744		227,527
		2,051,076		2,226,966
Less Accumulated Depreciation		(348,185)		(395,847)
Total Investment in Hotel Properties	$	1,702,891	$	1,831,119

Wholly Owned Hotel Properties Acquired

Hotel	Acquisition Date		Land		Buildings and Improvements		Furniture Fixtures and Equipment		Other Intangibles			Loan Costs		Total Purchase Price		Assumption of Debt
Sanctuary Beach Resort, Marina, CA	1/28/2016	$	20,014	$	17,093	$	2,369	$	-		$	198	$	39,674	$	14,750	*
Hilton Garden Inn M Street, Washington, DC	3/9/2016		30,131		65,971		9,621		874	**		-		106,597		-
TOTAL		$	50,145	$	83,064	$	11,990	$	874		$	198	$	146,271	$	14,750

*Assumption of debt includes a $50 premium resulting from the determination that the stated rate of interest is above market rates on the date of acquisition

**Includes an intangible asset for a lease-in-place of $648,  advance bookings of $76  and franchise fees of $150.

Acquisition-related costs, such as due diligence, legal and accounting fees, are not capitalized or applied in determining the fair value of the above acquired assets. During the three months ended March 31, 2016, we paid $1,410 in acquisition costs related to the above acquired assets.

Results Of Operations For Hotels Acquired With 100% Interest

	Three Months Ended March 31,
	2016
Hotel		Revenue		Net  Income
Sanctuary Beach Resort, Marina, CA	$	902	$	263
Hilton Garden Inn  M Street, Washington, DC		1,230		491
Total	$	2,132	$	754

Assets Held For Sale

	March 31, 2016
Land	$	65,916
Buildings and Improvements		236,830
Furniture, Fixtures and Equipment		29,596
		332,342
Less: Accumulated Depreciation & Amortization		(67,558)
Assets Held for Sale	$	264,784
Liabilities Related to Assets Held for Sale	$	55,203

Condensed Pro Forma Financial Data

		Three Months Ended March 31,
	2016		2015
Pro Forma Total Revenues	$	110,325	$	100,833
Pro Forma Net Loss		(6,192)		(3,948)
Loss Allocated to Noncontrolling Interest		588		427
Preferred Distributions		(3,589)		(3,589)
Pro Forma Loss Applicable to Common Shareholders	$	(9,193)	$	(7,110)
Pro Forma Loss Applicable to Common Shareholders per Common Share
Basic	$	(0.21)	$	(0.14)
Diluted	$	(0.21)	$	(0.14)
Weighted Average Common Shares Outstanding
Basic		44,379,327		49,582,790
Diluted		44,379,327		49,582,790