Investment in Unconsolidated Joint Ventures (Notes)

12 Months Ended

Dec. 31, 2018

Investment in Unconsolidated Joint Ventures [Abstract]

Equity Method Investments and Joint Ventures Disclosure [Text Block]

Investment in Unconsolidated Joint Ventures

As of December 31, 2018 and 2017, 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 its 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 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 December 31, 2018 and 2017, 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):

	December 31, 2018		December 31, 2017
Equity basis of the joint venture investments	$	117	$	253
Cost of the joint venture investments in excess of the joint venture book value	22,162		23,632
Investment in unconsolidated joint ventures	$	22,279	$	23,885

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

	For the year ended December 31,
	2018			2017
Unconsolidated joint ventures net income attributable to the Company	$	2,105		$	623
Depreciation of cost in excess of book value	(1,469		)	(490		)
Equity in income from unconsolidated joint ventures	$	636		$	133