DISCONTINUED OPERATIONS

3 Months Ended

Mar. 31, 2015

DISCONTINUED OPERATIONS

DISCONTINUED OPERATIONS

NOTE 13 - DISCONTINUED OPERATIONS

We have adjusted our consolidated statement of operations for the three months ended March 31, 2014 to reflect the operations of hotel properties sold or classified as held for sale in discontinued operations. Discontinued operations include the following hotel properties that have been sold:

AmericInn and Aspen Hotel & Suites in Fort Smith, AR - sold on January 17, 2014; and

Hampton Inn in Fort Smith, AR — sold September 9, 2014.

Condensed results for the hotel properties included in discontinued operations follows (in thousands):

	For the Three Months Ended March 31, 2014
Revenues	$	1,088
Hotel operating expenses	770
Depreciation and amortization	4
Operating income	314
Other income	63
Income before taxes	377
Income tax benefit	1
Income from discontinued operations	$	378
Income from discontinued operations attributable to non-controlling interest	$	5
Income from discontinued operations attributable to common stockholders	$	373