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Consolidated Statements of Operations and Comprehensive Loss - USD ($)
shares in Thousands, $ in Thousands
12 Months Ended
Dec. 31, 2015
Dec. 31, 2014
Dec. 31, 2013
Revenues      
Rental revenue $ 19,809 $ 20,246 $ 21,009
Hotel revenue 35,582 35,241 30,655
Sales of Real Estate 0 0 3,404
Total revenues 55,391 55,487 55,068
Expenses      
Property operating expenses 7,827 8,202 11,127
Hotel operating expenses 27,671 26,253 23,091
Bad debt expense 58 (137) 1,754
Cost of condominium sales 0 0 3,412
Condominium inventory impairment 761 0 264
Interest expense 8,431 10,005 9,780
Real estate taxes 3,286 4,075 4,100
Impairment charge 11,540 9,371 363
Property management fees 1,924 1,842 1,745
Asset management fees 2,312 2,263 2,290
General and administrative 4,842 5,964 5,657
Depreciation and amortization 13,294 12,701 13,037
Total expenses 81,946 80,539 76,620
Interest income 16 47 54
Other income, net 74 759 (24)
Loss on debt extinguishment 0 (246) 0
Loss from continuing operations before income taxes and equity in losses of unconsolidated joint ventures (26,465) (24,492) (21,522)
Reorganization items, net 0 0 (171)
Provision for income taxes (117) (98) (58)
Equity in losses of unconsolidated joint ventures 1,008 170 (1,694)
Loss from continuing operations (25,574) (24,420) (23,445)
Gain (Loss) from discontinued operations 0 0 3,985
Gains (Losses) on Sales of Investment Real Estate 0 476 86
Net loss (25,574) (23,944) (19,374)
Add: Net loss attributable to the noncontrolling interest      
Continuing operations 386 414 578
Discontinued operations 0 0 (1,460)
Net loss attributable to common shareholders $ (25,188) $ (23,530) $ (20,256)
Weighted average shares outstanding:      
Basic and diluted (in shares) 56,500 56,500 56,500
Basic and diluted:      
Continuing operations (in dollars per share) $ (0.45) $ (0.42) $ (0.40)
Discontinued operations (in dollars per share) 0.00 0.00 0.04
Basic and diluted loss per share (in dollars per share) $ (0.45) $ (0.42) $ (0.36)
Amounts attributable to common shareholders:      
Continuing operations $ (25,188) $ (23,530) $ (22,781)
Discontinued operations 0 0 2,525
Net loss attributable to common shareholders (25,188) (23,530) (20,256)
Comprehensive loss:      
Net loss (25,574) (23,944) (19,374)
Other comprehensive loss:      
Foreign currency translation gain (loss) (2,484) (2,265) 1,413
Reclassifications to net income:      
Unrealized foreign currency translation loss 0 0 3,624
Unrealized loss on interest rate derivatives 0 86 90
Total other comprehensive income (loss) (2,484) (2,179) 5,127
Comprehensive loss (28,058) (26,123) (14,247)
Comprehensive loss attributable to noncontrolling interest 386 414 (979)
Comprehensive loss attributable to common shareholders $ (27,672) $ (25,709) $ (15,226)