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Hotel Dispositions (Tables)
3 Months Ended
Sep. 30, 2015
Discontinued Operations - Hotel Properties Held for Sale And Sold [Abstract]  
Schedule of Real Estate Properties [Table Text Block]

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

September 30, 2015

 

December 31, 2014

 

Continuing operations
(9 hotels)

 

Discontinued operations
(3 hotels)

 

Total
held for sale

 

Continuing operations
(14 hotels)

 

Discontinued operations
(9 hotels)

 

Total
held for sale

Land

$

2,608 

 

$

1,009 

 

$

3,617 

 

$

8,611 

 

$

3,791 

 

$

12,402 

Acquired below market lease intangibles

 

 

 

883 

 

 

883 

 

 

 

 

883 

 

 

883 

Buildings, improvements, vehicles

 

16,554 

 

 

5,327 

 

 

21,881 

 

 

40,002 

 

 

15,918 

 

 

55,920 

Furniture and Equipment

 

5,534 

 

 

1,108 

 

 

6,642 

 

 

9,310 

 

 

3,182 

 

 

12,492 

Construction-in-progress

 

 

 

 

 

 

 

289 

 

 

(1)

 

 

288 

Assets held for sale

$

24,696 

 

$

8,327 

 

$

33,023 

 

$

58,212 

 

$

23,773 

 

$

81,985 

Accumulated depreciation

 

(10,821)

 

 

(1,126)

 

 

(11,947)

 

 

(18,684)

 

 

(5,087)

 

 

(23,771)

Investment in hotel properties, net

$

13,875 

 

$

7,201 

 

$

21,076 

 

$

39,528 

 

$

18,686 

 

$

58,214 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Schedule of Disposal Groups, Including Discontinued Operations, Income Statement, Disclosures [Table Text Block]

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Three months ended

 

Nine months ended

 

 

September 30,

 

September 30,

 

 

2015

 

2014

 

2015

 

2014

Revenues

 

$

865 

 

$

3,664 

 

$

3,580 

 

$

12,651 

Hotel and property operations expenses

 

 

(643)

 

 

(2,841)

 

 

(2,551)

 

 

(9,944)

Interest expense

 

 

(51)

 

 

(259)

 

 

(251)

 

 

(1,059)

Loss on debt extinguishment

 

 

 

 

(120)

 

 

 

 

(120)

Depreciation expense

 

 

 

 

 

 

 

 

(112)

Net gain (loss) on disposition of assets

 

 

(2)

 

 

2,105 

 

 

1,660 

 

 

2,740 

Impairment (loss) recovery

 

 

 

 

(921)

 

 

120 

 

 

(1,517)

Gain from discontinued operations, net of tax

 

$

169 

 

$

1,628 

 

$

2,558 

 

$

2,639 

Earnings attributable to noncontrolling interest

 

 

(11)

 

 

 

 

(271)

 

 

Net earnings attributable to controlling interests

 

$

158 

 

$

1,628 

 

$

2,287 

 

$

2,639 

 

 

 

 

 

 

 

 

 

 

 

 

 

Capital expenditures

 

$

22 

 

$

132 

 

$

65 

 

$

391