Assets Held for Sale

3 Months Ended

Mar. 31, 2017

Discontinued Operations And Disposal Groups [Abstract]

Assets Held for Sale

NOTE 3. ASSETS HELD FOR SALE

As of December 31, 2016, five hotels and a restaurant parcel were classified as assets held for sale. The sale of these assets does not represent a major strategic shift and does not qualify for discontinued operations reporting. During the first quarter of 2017, three of these hotels were sold for $22.0 million, net of transaction costs. The remaining two hotels are expected to sell in 2017. Additionally, during the first quarter of 2017, one hotel in Waco, Texas met the criteria to be classified as an asset held for sale.

As of March 31, 2017 and December 31, 2016, the carrying amounts of the major classes of assets held for sale were as follows:

	March 31, 2017		December 31, 2016
	(in thousands)
Current assets	$	25	$	64
Property and equipment, net of accumulated depreciation		8,929		29,383
Other non-current assets		94		97
Total assets held for sale	$	9,048	$	29,544