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Note 16 - Impairments
 12 Months Ended
Dec. 31, 2019
Notes to Financial Statements  
Real Estate Disclosure [Text Block]
Note
1
6
- Impairments
 
Impairments of Long-Lived Assets
 
      During the year ended
December 31, 2019
, the Company identified
33
hotel properties where the carrying value of the properties exceeded their fair value and management determined the excess carrying value was unrecoverable. All but
two
of these
33
 hotel properties were either sold during
2019
or subject to definitive sale agreements as of
December 31, 2019,
and were identified for impairment review because of a potential sale of such properties, resulting in shorter holding periods. The Company recorded cumulative impairment losses of
$114.6
 million on the
33
hotels.  The Company determined the fair value of the
31
sale hotels was equal to the purchase price in the applicable definitive sales agreement. The Company determined the fair value of the
two
other hotels using market and income based approaches. The market approach estimates value based on what other purchasers and sellers in the market have agreed to as price for comparable properties. The income approach utilizes assumptions such as discount rates, future cash flow, and capitalization rates.
 
During the year ended
December 31, 2018
, the Company identified
six
hotel properties where the carrying value of the properties exceeded their fair value and management determined the excess carrying value was unrecoverable. The Company recorded cumulative impairment losses of
$26.4
million on the
six
hotels. Two of the hotels were identified during the quarter ended
December 31, 2018
in connection with the Company's annual fair value assessment of its hotel properties. The other
four
hotels were identified for impairment review during the quarter ended
June 30, 2018
because of a long-term change in market conditions and the potential sale of such properties. The Company determined the fair value of each hotel using market and income based approaches. 
 
During the year ended
December 31,
2017
, the Company identified
four
hotel properties where the carrying value of the properties exceeded their fair value and management determined the excess carrying value was unrecoverable. The Company recorded cumulative impairment losses of
$10.4
million on these
four
hotels. Two of the hotels were identified during the quarter ended
June 30, 2017
in connection with the approval of the Company's
2017
Estimated Per-Share NAV. The other
two
hotels were identified during the quarter ended
December 31,
2017
in connection with the Company's annual fair value assessment of its hotel properties. During the year ended
December 31,
2017
, the Company also recognized additional impairment losses of
$5.2
million, including impairment of
$3.9
million on the sale of
two
hotels and impairment loss of
$1.3
million on
one
hotel classified as held for sale as of
December 
31,
2017
, which included the costs to sell those assets.
 
Impairment of Goodwill
 
The Company recognized
$31.6
million of goodwill as a result of the transactions and consideration paid in connection with its transition to self-management on
March 31, 2017.
The Company allocated this goodwill to each of its wholly-owned hotels based on its determination that each hotel is a reporting unit as defined in US GAAP.
 
For any reporting unit for which the Company has performed a recoverability test (as described above under Impairments of Long-Lived Assets), Accounting Standards Codification section
805
- Business Combinations requires that the Company also evaluate the goodwill allocated to such reporting unit for impairment. In performing this evaluation, the Company compares the fair value of the reporting unit to the carrying amount of such reporting unit including the allocation of goodwill. As required by ASC
350,
as amended by ASU
2017
-
04,
if the carrying amount of the reporting unit exceeds its fair value, the Company will apply a
one
-step quantitative test and record the amount of goodwill impairment as the excess of a reporting unit’s carrying amount over its fair value,
not
to exceed the total amount of goodwill allocated to such reporting unit.
 
In
2019,
for the Company's hotels subject to a definitive sales agreement, fair value was equal to the purchase price in the applicable agreement. The fair value of the hotel properties
not
 subject to a definitive sales agreement was determined using market and income based methods. For
2018
and
2017,
the Company determined the fair values of each reporting unit using market and income based methods. 
 
During the year ended
December 31, 2019
, the Company determined that approximately
$0.9
million of goodwill allocated to
five
reporting units for which the fair value was less than the carrying amount was impaired. The range of goodwill impairment recorded by each reporting unit was from less than
$0.1
million to
$0.2
million, with an average impairment of
$0.2
million. One of the
five
hotels was impaired when classified as "Assets held for sale."
 
During the year ended
December 31, 2018
, the Company determined that approximately
$3.4
million of goodwill allocated to
16
reporting units for which the fair value was less than the carrying amount was impaired. The range of goodwill impairment recorded by each reporting unit was from less than
$0.1
million to
$0.6
million, with an average impairment of
$0.2
million.
 
During the year ended
December 31, 2017,
the Company determined that approximately
$17.1
million of goodwill allocated to
82
reporting units for which the fair value was less than the carrying amount was impaired. The range of goodwill impairment recorded by each reporting unit was from less than
$0.1
million to
$1.3
million, with an average impairment of
$0.2
million.
 
The goodwill impairment is reflected in impairment of goodwill and long-lived assets on the Company's Consolidated Statement of Operations and Comprehensive Loss for the year ended
December 31, 2019
,
December 31, 2018
, and
December 31,
2017
, respectively.