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Acquisition and Disposition of Hotel Properties
 9 Months Ended
Sep. 30, 2018
Business Combinations [Abstract]  
Acquisition and Disposition of Hotel Properties
Acquisition and Disposition of Hotel Properties
The Company had no acquisitions and dispositions during the nine months ended September 30, 2018.
The Company will report a disposed or held for sale hotel property or group of hotel properties in discontinued operations only if the disposal represents a strategic shift that has, or will have, a major effect on its operations and financial results. All other disposed hotel properties will have their operating results reflected within continuing operations on the Company's consolidated statements of operations for all periods presented.
On June 20, 2017, the Company sold the Dumont NYC for $118.0 million and recognized an immaterial gain on sale. In March 2017, the Company recognized an impairment loss of $1.0 million related to this hotel property when the property was designated as held for sale.
On June 23, 2017, the Company sold the parking garage at the Revere Hotel Boston Common for $95.0 million. The Company recognized a gain of $13.9 million related to the sale of this parking garage.
For the three and nine months ended September 30, 2017, the Company's consolidated statements of operations included operating income of zero and $4.2 million, respectively, related to the Dumont NYC and the parking garage at the Revere Hotel Boston Common.
The sales of the hotel property and parking garage described above did not represent a strategic shift that had a major effect on the Company’s operations and financial results, and therefore, did not qualify as discontinued operations.