Acquisition of Hotel Properties

3 Months Ended

Mar. 31, 2016

Business Combinations [Abstract]

Acquisition of Hotel Properties

Acquisition of Hotel Properties

Hotel Purchase Price Allocation

No acquisitions were completed in the three months ended March 31, 2016. The Company incurred acquisition costs of $12 during the three months ended March 31, 2016 and $260 during the three months ended March 31, 2015.

Pro Forma Financial Information

The following condensed pro forma financial information presents the unaudited results of operations for the three months ended March 31, 2016 and 2015. There were no hotels acquired in 2016. The hotels acquired in 2015 are presented as if the acquisitions had taken place on January 1, 2014. Supplemental pro forma earnings were adjusted to exclude $93 of acquisition costs incurred in the three months ended March 31, 2015 and include these acquisition costs in 2014. The unaudited pro forma results have been prepared for comparative purposes only and are not necessarily indicative of what actual results of operations would have been had the acquisitions taken place on January 1, 2014, nor do they purport to represent the results of operations for future periods (in thousands, except share and per share data).

	For the three months ended
	March 31,
	2015
Pro forma total revenue	$	66,069
Pro forma net income	$	2,371
Pro forma income per share:
Basic	$	0.06
Diluted	$	0.06
Weighted average Common Shares Outstanding
Basic	38,274,448
Diluted	38,671,129