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Sale of Hotel Properties
 6 Months Ended
Jun. 30, 2020
Discontinued Operations and Disposal Groups [Abstract]  
Disposal of Hotel Properties Sale of Hotel Properties
 
During the six months ended June 30, 2019, Company sold 23 hotel properties in two separate transactions for a total sales price of approximately $465.3 million. The Company also entered into a purchase and sale agreement to sell a portfolio of 18 hotel properties and incurred a loss to write down the held-for-sale portfolio to its fair value less cost to sell. The sale of the 18 hotel portfolio closed in August 2019. In connection with these transactions, the Company recorded a net loss of $24.8 million, which is included in (loss) gain on sale of hotel properties, net, in the accompanying consolidated statements of operations and comprehensive income.

On June 25, 2019, the Company sold a portfolio of 21 hotels for $311.9 million. In connection with this transaction, the Company recorded a gain on sale of $44.5 million, which is included in (loss) gain on sale of hotel properties, net, in the accompanying consolidated statements of operations and comprehensive income.

On June 27, 2019, the Company sold two resort hotels in Myrtle Beach, South Carolina for $153.3 million. In connection with this transaction, the Company recorded a loss on sale of $21.3 million, which is included in (loss) gain on sale of hotel properties, net, in the accompanying consolidated statements of operations and comprehensive income.
The following table discloses the hotel properties that were sold during the six months ended June 30, 2019:
Hotel Property NameLocationSale DateRooms
Courtyard Boulder LongmontLongmont, COJune 25, 201978  
Courtyard Salt Lake City AirportSalt Lake City, UTJune 25, 2019154  
Courtyard Fort Lauderdale SW MiramarMiramar, FLJune 25, 2019128  
Courtyard Austin AirportAustin, TXJune 25, 2019150  
Fairfield Inn & Suites San Antonio DowntownSan Antonio, TXJune 25, 2019110  
Hampton Inn & Suites Clearwater St. PetersburgClearwater, FLJune 25, 2019128  
Hampton Inn Fort Walton BeachFort Walton, FLJune 25, 2019100  
Hampton Inn & Suites Denver Tech CenterDenver, COJune 25, 2019123  
Hampton Inn West Palm Beach Airport CentralWest Palm Beach, FLJune 25, 2019105  
Hilton Garden Inn BloomingtonBloomington, INJune 25, 2019168  
Hilton Garden Inn West Palm Beach AirportWest Palm Beach, FLJune 25, 2019100  
Hilton Garden Inn Durham Raleigh Research Triangle ParkDurham, NCJune 25, 2019177  
Residence Inn Longmont BoulderLongmont, COJune 25, 201984  
Residence Inn Detroit NoviNovi, MIJune 25, 2019107  
Residence Inn Chicago Oak BrookOak Brook, ILJune 25, 2019156  
Residence Inn Fort Lauderdale PlantationPlantation, FLJune 25, 2019138  
Residence Inn Salt Lake City AirportSalt Lake City, UTJune 25, 2019104  
Residence Inn San Antonio Downtown Market SquareSan Antonio, TXJune 25, 201995  
Residence Inn Fort Lauderdale SW MiramarMiramar, FLJune 25, 2019130  
Residence Inn Silver SpringSilver Spring, MDJune 25, 2019130  
Springhill Suites Boulder LongmontLongmont, COJune 25, 201990  
Embassy Suites Myrtle Beach Oceanfront ResortMyrtle Beach, SCJune 27, 2019255  
Hilton Myrtle Beach ResortMyrtle Beach, SCJune 27, 2019385  
Total3,195  
In April 2019, the Company entered into a purchase and sale agreement to sell a portfolio of 18 hotel properties and the transaction closed in August 2019. For the six months ended June 30, 2019, the Company recorded a loss of $48.1 million to write down the portfolio to its fair value less cost to sell, which is included in (loss) gain on sale of hotel properties, net, in the accompanying consolidated statements of operations and comprehensive income.