Acquisition of Hotel Properties

3 Months Ended

Mar. 31, 2015

Business Combinations [Abstract]

ACQUISITION OF HOTEL PROPERTIES

Acquisition of Hotel Properties

The Company finalized the purchase price allocation for the Union Station Hotel, Autograph Collection, which was acquired on December 10, 2014. The final purchase price was allocated as follows: $39.3 million to building and improvements, $5.4 million to furniture and fixtures, and $7.5 million to below (above) market rate contracts and other intangibles.

The Company had no hotel acquisitions during the three months endedMarch 31, 2015. The following unaudited pro forma financial information presents the results of the Company for the three months endedMarch 31, 2014 as if the hotels acquired in 2014 were acquired on January 1, 2013. The following hotels' pro forma results are included in the pro forma table below: Prescott Hotel; The Nines, a Luxury Collection Hotel, Portland; The Westin Colonnade Coral Gables; Hotel Palomar Los Angeles Beverly Hills; Union Station Hotel, Autograph Collection; and Revere Hotel Boston Common. The pro forma results below exclude acquisition costs of $0.3 million for the three months ended March 31, 2014. The unaudited pro forma results have been prepared for comparative purposes only and do not purport to be indicative of either the results of operations that would have actually occurred had these transactions occurred or the future results of operations (in thousands, except per-share data).

	For the three months ended March 31,
	2014
Total revenues	$	157,336
Operating income (loss)	13,234
Net income (loss) attributable to common shareholders	(443		)
Net income (loss) per share available to common shareholders — basic	$	(0.01	)
Net income (loss) per share available to common shareholders — diluted	$	(0.01	)