DISCONTINUED OPERATIONS

12 Months Ended

Dec. 31, 2016

Discontinued operations, held for sale or sold

Discontinued operations

DISCONTINUED OPERATIONS

DISCONTINUED OPERATIONS

We have adjusted our Consolidated Statements of Operations for the year ended December 31, 2014 to reflect the operations of hotel properties sold or classified as held for sale in discontinued operations. No such adjustment was made during the years ended December 31, 2016 or 2015 due to the adoption of ASU No. 2014-08. Discontinued operations for the year ended December 31, 2014 include the following hotel properties that have been sold:

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

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

Condensed results for the hotel properties included in discontinued operations for the year ended December 31, 2014 is as follows (in thousands):

	2014
Revenues	$	3,128
Hotel operating expenses	(2,304		)
Depreciation and amortization	(13		)
Loss on impairment of assets	(400		)
Operating income	411
Gain on disposal of assets	55
Income before taxes	466
Income tax benefit	26
Income from discontinued operations	$	492
Income from discontinued operations attributable to non-controlling interest	$	6
Income from discontinued operations attributable to common stockholders	$	486