Net Investments in Hotels (Tables)

12 Months Ended

Dec. 31, 2019

Real Estate [Abstract]

Schedule of Hotel Properties

Net investments in hotels are summarized as follows (in thousands):

	December 31,
	2019			2018
Buildings	$	1,090,693		$	1,093,865
Land	236,078			236,078
Furniture, fixtures and equipment	93,333			93,766
Building and site improvements	42,318			38,670
Construction in progress	6,466			2,554
Hotels, at cost	1,468,888			1,464,933
Less: Accumulated depreciation	(157,581		)	(113,184		)
Net investments in hotels	$	1,311,307		$	1,351,749

Hurricane-Related Disruption

Below is a summary of the items that comprised the (gain) loss recognized by the venture related to Hurricane Irma (in thousands):

(in thousands)	Years Ended December 31,
	2019			2018			2017
Net write-off (write-up) of fixed assets (a)	$	3,476		$	(173	)	$	4,938
Remediation work performed	—			133			1,476
(Increase) decrease to property damage insurance receivables	(3,486		)	722			(3,715		)
(Gain) loss on hurricane-related property damage	$	(10	)	$	682		$	2,699

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(a) Includes write-offs totaling $1.4 million during the year ended December 31, 2018 resulting from pre-existing damage (which was discovered as a result of Hurricane Irma and was not covered by insurance).

Pro Forma Information

(Dollars in thousands)

	Year Ended December 31, 2017
Pro forma total revenues	$	356,634
Pro forma net income	$	1,391
Pro forma income attributable to noncontrolling interests	(991		)
Pro forma net income attributable to CWI 2 stockholders	$	400
Class A Common Stock
Pro forma net income attributable to CWI 2 stockholders	$	260
Class T Common Stock
Pro forma net income attributable to CWI 2 stockholders	$	140