Investment in Unconsolidated Joint Ventures (Notes)

3 Months Ended

Mar. 31, 2018

Investment in Unconsolidated Joint Ventures [Abstract]

Equity Method Investments and Joint Ventures Disclosure [Text Block]

Investment in Unconsolidated Joint Ventures

As of March 31, 2018, the Company owned 50% interests in joint ventures that owned two hotel properties. The Company also owned 50% interests in joint ventures that owned real estate and a condominium management business that are associated with two of our resort hotel properties. The Company accounts for the investments in these unconsolidated joint ventures under the equity method of accounting. The Company makes adjustments to the equity in income (loss) from unconsolidated joint ventures related to the difference between the Company's basis in the investment in the unconsolidated joint ventures as compared to the historical basis of the assets and liabilities of the joint ventures. As of March 31, 2018, the unconsolidated joint ventures' debt consisted entirely of non-recourse mortgage debt.

The following table summarizes the components of the Company's investments in unconsolidated joint ventures (in thousands):

	March 31, 2018
Equity basis of the joint venture investments	$	(11	)
Cost of the joint venture investments in excess of the joint venture book value	23,265
Investment in unconsolidated joint ventures	$	23,254

The following table summarizes the components of the Company's equity in loss from unconsolidated joint ventures (in thousands):

	For the three months ended March 31, 2018
Unconsolidated joint ventures net loss attributable to the Company	$	(14	)
Depreciation of cost in excess of book value	(367		)
Equity in loss from unconsolidated joint ventures	$	(381	)