SUBSEQUENT EVENTS	12 Months Ended
Dec. 31, 2019
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	SUBSEQUENT EVENTS Waiver of Compliance Under the Second Amended and Restated Certificate of Designation for the Series B Preferred Shares, we cannot exceed 103% of the aggregate line item expenditures in our annual operating budget approved by the Series B Investors without their prior written approval. We were in breach of this covenant for the year ended December 31, 2019 for certain expenses that exceeded the approved budget by more than 103%. However, subsequent to December 31, 2019, we obtained a waiver of this breach from the Series B Investors. Broadway Tower Sale On January 22, 2020, the Company closed on the sale of Broadway Tower, for the selling price of $19.5 million, net of purchase price adjustments. After selling related expenses due at closing (i.e., selling commissions and closing costs), the net proceeds realized by the Company was $8.0 million, after payment of related indebtedness of $11.0 million, resulting in an estimated loss on sale of $1.5 million, which was accrued and recorded as an impairment charge in the accompany consolidated statement of operations for the year ended December 31, 2019. Guarantor Settlement During the year ended December 31, 2019, we pursued enforcement action against the original borrower and guarantor of the Broadway Tower loan based on the terms of the loan guaranty, which was in dispute by the guarantor. In January 2020, we entered into a general mutual release and settlement agreement whereby the Company agreed to withdraw its claims and disputes in exchange for a cash payment of $1.75 million which was collected within 5 days of the execution of that agreement. Partnership Settlement Subsequent to December 31, 2019, the Company commenced negotiations to settle a legal matter with the limited partners in RNMA I (see Note 16). Pursuant to an offer made by the Company to the limited partners, the Company offered to buy the interests of limited partners for a cash payment of $1.3 million. While settlement negotiations remain ongoing, by the offer made, the Company’s management has expressed a willingness to settle this offer for this amount and, accordingly, we have accrued a settlement loss of $1.3 million for this matter in the accompanying consolidated financial statements. Novel Coronavirus (COVID-19) Matters On January 30, 2020, the World Health Organization (“WHO”) announced a global health emergency because of a new strain of coronavirus originating in Wuhan, China (the “COVID-19 outbreak”) and the risks to the international community as the virus spreads globally beyond its point of origin. In March 2020, the WHO classified the COVID-19 outbreak as a pandemic, based on the rapid increase in exposure globally. The full impact of the COVID-19 outbreak continues to evolve as of the date of this report. The extent to which the Company’s business may be affected by the current outbreak of the Coronavirus will largely depend on both current and future developments, including its duration, spread and treatment, and related travel advisories and restrictions, which could impact overall demand in the hospitality industry, all of which are highly uncertain and cannot be reasonably predicted. On March 17, 2020, in response to the COVID-19 pandemic, the Company temporarily closed its MacArthur Place hotel located in Sonoma, California. We expect the hotel will remain closed to the public for an undetermined period of time, and until permitted by federal, state and local instructions to reopen. If closure of or demand for the Company’s hotel rooms and other services is negatively impacted for an extended period, as a result of cancellations, travel restrictions, governmental travel advisories and/or state of emergency declarations, the Company’s hospitality business and financial results could be materially and adversely impacted. Further, as a result of the uncertainty when the MacArthur Place hotel may be able to reopen, we furloughed certain employees of the hotel and may elect to take further actions with respect to our employees in the future. As such, it is uncertain as to the full magnitude that the pandemic will have on the Company’s consolidated financial condition, liquidity, and future results of operations. Management is actively monitoring the global situation on its consolidated financial condition, liquidity, operations, suppliers, industry, and workforce. Given the daily evolution of the COVID-19 outbreak and the global responses to curb its spread, the Company is not able to estimate the effects of the COVID-19 outbreak on its consolidated results of operations, financial condition, or liquidity for fiscal year 2020.

SUBSEQUENT EVENTS

Waiver of Compliance

Under the Second Amended and Restated Certificate of Designation for the Series B Preferred Shares, we cannot exceed 103% of the aggregate line item expenditures in our annual operating budget approved by the Series B Investors without their prior written approval. We were in breach of this covenant for the year ended December 31, 2019 for certain expenses that exceeded the approved budget by more than 103%. However, subsequent to December 31, 2019, we obtained a waiver of this breach from the Series B Investors.

Broadway Tower Sale

On January 22, 2020, the Company closed on the sale of Broadway Tower, for the selling price of $19.5 million, net of purchase price adjustments. After selling related expenses due at closing (i.e., selling commissions and closing costs), the net proceeds realized by the Company was $8.0 million, after payment of related indebtedness of $11.0 million, resulting in an estimated loss on sale of $1.5 million, which was accrued and recorded as an impairment charge in the accompany consolidated statement of operations for the year ended December 31, 2019.

Guarantor Settlement

During the year ended December 31, 2019, we pursued enforcement action against the original borrower and guarantor of the Broadway Tower loan based on the terms of the loan guaranty, which was in dispute by the guarantor. In January 2020, we entered into a general mutual release and settlement agreement whereby the Company agreed to withdraw its claims and disputes in exchange for a cash payment of $1.75 million which was collected within 5 days of the execution of that agreement.

Partnership Settlement

Subsequent to December 31, 2019, the Company commenced negotiations to settle a legal matter with the limited partners in RNMA I (see Note 16). Pursuant to an offer made by the Company to the limited partners, the Company offered to buy the interests of limited partners for a cash payment of $1.3 million. While settlement negotiations remain ongoing, by the offer made, the Company’s management has expressed a willingness to settle this offer for this amount and, accordingly, we have accrued a settlement loss of $1.3 million for this matter in the accompanying consolidated financial statements.

Novel Coronavirus (COVID-19) Matters

On January 30, 2020, the World Health Organization (“WHO”) announced a global health emergency because of a new strain of coronavirus originating in Wuhan, China (the “COVID-19 outbreak”) and the risks to the international community as the virus spreads globally beyond its point of origin. In March 2020, the WHO classified the COVID-19 outbreak as a pandemic, based on the rapid increase in exposure globally.

The full impact of the COVID-19 outbreak continues to evolve as of the date of this report. The extent to which the Company’s business may be affected by the current outbreak of the Coronavirus will largely depend on both current and future developments, including its duration, spread and treatment, and related travel advisories and restrictions, which could impact overall demand in the hospitality industry, all of which are highly uncertain and cannot be reasonably predicted.

On March 17, 2020, in response to the COVID-19 pandemic, the Company temporarily closed its MacArthur Place hotel located in Sonoma, California. We expect the hotel will remain closed to the public for an undetermined period of time, and until permitted by federal, state and local instructions to reopen. If closure of or demand for the Company’s hotel rooms and other services is negatively impacted for an extended period, as a result of cancellations, travel restrictions, governmental travel advisories and/or state of emergency declarations, the Company’s hospitality business and financial results could be materially and adversely impacted. Further, as a result of the uncertainty when the MacArthur Place hotel may be able to reopen, we furloughed certain employees of the hotel and may elect to take further actions with respect to our employees in the future. As such, it is uncertain as to the full magnitude that the pandemic will have on the Company’s consolidated financial condition, liquidity, and future results of operations. Management is actively monitoring the global situation on its consolidated financial condition, liquidity, operations, suppliers, industry, and workforce. Given the daily evolution of the COVID-19 outbreak and the global responses to curb its spread, the Company is not able to estimate the effects of the COVID-19 outbreak on its consolidated results of operations, financial condition, or liquidity for fiscal year 2020.