Hotels Held for Sale

6 Months Ended

Jun. 30, 2019

5. Hotels Held for Sale

During the fourth quarter of 2018, the Company committed to a plan to sell

three

hotels and accordingly the hotels were classified as hotels held for sale as of December 31, 2018. Hotels held for sale presented in the December 31, 2018 condensed consolidated balance sheet consisted of the investment in real estate of each hotel, which was measured at December 31, 2018 at the lower of carrying value or fair value, less costs to sell. Mortgages payable related to assets of hotels held for sale presented in the December 31, 2018 condensed consolidated balance sheet represents the principal of the mortgage payable that the Company was contractually required to repay in connection with the sale of the hotels. There were

other major captions of assets or liabilities related to the hotels held for sale. The following is a summary of hotels held for sale as of December 31, 2018.


Hotel	Assets of Hotels Held for Sale
Homewood Suites—Laredo, Texas	$	9,748
Residence Inn—Laredo, Texas		9,252
Courtyard—Dothan, Alabama		6,305
Total	$	25,305

The Company sold the hotels in the first quarter of 2019 as described in Note 4. No hotels were held for sale as of June 30, 2019.