DISCONTINUED OPERATIONS

9 Months Ended

Sep. 30, 2015

DISCONTINUED OPERATIONS

DISCONTINUED OPERATIONS

NOTE 14 - DISCONTINUED OPERATIONS

We have adjusted our Condensed Consolidated Statement of Operations for the three and nine months ended September 30, 2014 to reflect the operations of hotel properties sold or classified as held for sale in discontinued operations. No such adjustment was made in 2015 due to the adoption of ASU 2014-08. Discontinued operations for the three and nine months ended September 30, 2014 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 are as follows (in thousands):

	For the Three Months Ended September 30, 2014			For the Nine Months Ended September 30, 2014
Revenues	$	847		$	3,128
Hotel operating expenses	746			2,304
Depreciation and amortization	4			13
Loss on impairment of assets	—			400
Operating income	97			411
Other expense	(188		)	(171		)
Income (loss) before taxes	(91		)	240
Income tax benefit	32			38
Income (loss) from discontinued operations	$	(59	)	$	278
Income (loss) from discontinued operations attributable to non-controlling interests	$	(1	)	$	3
Income (loss) from discontinued operations attributable to common stockholders	$	(58	)	$	275