DISCONTINUED OPERATIONS (Tables)

3 Months Ended

Mar. 31, 2017

Discontinued Operations and Disposal Groups [Abstract]

Disposal Groups, Including Discontinued Operations

The following table summarizes the carrying amounts of the major classes of assets and liabilities for discontinued operations in the consolidated balance sheets as of March 31, 2017 and December 31, 2016:

	March 31, 2017		December 31, 2016
Assets
Cash and Cash Equivalents	$	87	$	1,747
Funds Held by Lender and Restricted Cash	—		2,063
Operating Properties, net	—		88,734
Other Receivables	695		831
Other Assets	705		737
Total Assets	$	1,487	$	94,112
Liabilities
Accounts Payable and Accrued Expenses	$	1,015	$	2,304
Customer Deposits and Funds Held for Others	—		2,170
Notes Payable, Net of Discount	—		49,553
Capital Lease Obligations	—		1,157
Total Liabilities	$	1,015	$	55,184

Results of Operations

The following table summarizes the results of operations classified as discontinued operations, net of tax, for the three months ended March 31, 2017 and 2016. The table below for the three months ended March 31, 2017 reflects the financial results for Sedona assets operations from January 1, 2017 through February 28, 2017.

	Three months ended March 31,
	2017			2016
Revenue	$	3,422		$	5,365
Expenses:
Operating Property Direct Expenses (exclusive of Interest and Depreciation)	3,716			4,747
Interest Expense	1,075			1,048
Depreciation and Amortization Expense	278			767
Settlement and Related Costs	185			—
Gain on Disposal of Assets	(6,808		)	—
Provision for Income Taxes	—			—
Income (Loss) from Discontinued Operations, Net of Tax	$	4,976		$	(1,197	)

Interest expense

The Company allocated interest expense, including amortization of deferred financing fees, to discontinued operations based on the senior mortgage debt that was paid with the proceeds from the sale of the Sedona hotels. The total allocated interest expense for the three months ended March 31, 2017 and 2016 is as follows:

	Three months ended March 31,
	2017		2016
Interest Expense	$	628	$	943
Amortization of Deferred Financing Fees	447		105
Total	$	1,075	$	1,048

Cash Flow Information

The following table presents the total operating and investing cash flows and depreciation, amortization, capital expenditures, and significant operating and investing noncash items of the discontinued operations for the three months ended March 31, 2017 and 2016:

	Three Months Ended March 31,
	2017	2016
Cash flows from discontinued operating activities:	278	767
Depreciation	274	756
Amortization	4	11
Cash flows from discontinued investing activities:	659	3,784
Investment in Real Estate Owned	659	3,784
Non-Cash Investing and Financing Transactions:
Capital Expenditures in Accounts Payable and Accrued Expenses	461	209
Liabilities Assumed in Sale of property	4,132	—