Segments (Tables)

12 Months Ended

Dec. 31, 2018

Schedule of Operating Segments Evaluated on Income from Operations

The performance of the Company’s operating segments is evaluated primarily on income from operations. Selected financial data is provided below (in thousands):



	Year Ended December 31,
	2018			2017			2016
Revenues:
Owned hotels	$	1,259,182		$	1,282,725		$	1,270,593
Franchise and management ⁽¹⁾	7,086			3,873			3,811
Total segment revenues	1,266,268			1,286,598			1,274,404
Corporate and other ⁽²⁾	80,942			75,692			79,792
Other revenues from franchise and managed properties ⁽³⁾	12,567			—			—
Intersegment eliminations ⁽⁴⁾	(84,718		)	(79,565		)	(83,603		)
Total	1,275,059			1,282,725			1,270,593

Income (loss) from operations:
Owned hotels ⁽⁵⁾	$	394,669		$	383,061		$	385,033
Franchise and management ⁽¹⁾	7,086			3,873			3,811
Total segment income from operations	401,755			386,934			388,844
Corporate and other ⁽²⁾	(23,168		)	(25,859		)	(28,180		)
Other expenses from franchise and managed properties, net⁽³⁾	(650		)	—			—
Total	$	377,937		$	361,075		$	360,664

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(1)	Includes intellectual property fees charged to the owned hotels segment of $3.8 million, $3.9 million and $3.8 million for the years ended December 31, 2018, 2017 and 2016, respectively, that are eliminated in the consolidated statements of operations.

(2)

Includes revenues generated and operating expenses incurred in connection with the overall support of owned, franchised and managed hotels and related operations. These amounts include management fees earned by and cost reimbursements charged to the owned hotels segment of $80.9 million, $75.7 million and $79.8 million for the years ended December 31, 2018, 2017 and 2016, respectively, that are eliminated in the consolidated statements of operations.


(3)	Includes direct reimbursement of specific costs incurred under franchise and management agreements that the Company is reimbursed for on a dollar-for-dollar basis, as well as indirect reimbursement of certain costs incurred associated with the Company’s shared platform (i.e., system services) (see Note 2).


(4)	Includes management fees, intellectual property fees and other cost reimbursements charged to the owned hotels segment that are eliminated in the consolidated statements of operations.


(5)	Net of impairment charges of $43.6 million, $25.2 million and $9.8 million for the years ended December 31, 2018, 2017 and 2016, respectively. Also includes gain on sale of hotel properties of $42.5 million and $10.0 million for the years ended December 31, 2018 and 2017, respectively.

Schedule of Assets and Capital Expenditures of Operating Segments

Total assets for each of the Company’s operating segments are provided below (in thousands):



	December 31, 2018			December 31, 2017
Assets:
Owned hotels	$	3,643,603		$	4,021,672
Franchise and management	14,634			9,933
Total segment assets	3,658,237			4,031,605
Corporate and other	308,181			85,215
Intersegment eliminations	(42,208		)	(40,815		)
Total	$	3,924,210		$	4,076,005

Total capital expenditures for each of the Company's operating segments are provided below (in thousands):



	Year Ended December 31,
	2018		2017		2016
Capital Expenditures:
Owned hotels	$	207,997	$	164,909	$	224,043
Franchise and management	250		—		—
Total segment capital expenditures	208,247		164,909		224,043
Corporate and other	1,027		1,469		1,280
Total	$	209,274	$	166,378	$	225,323