Long-Term Debt (Tables)

3 Months Ended

Mar. 31, 2016

Long-Term Debt [Abstract]

Summary Of Long Term Debt

Lender		Balance at March 31, 2016	Interest rate at March 31, 2016	Maturity	Amortization provision	Properties encumbered at March 31, 2016		Balance at December 31, 2015
Fixed rate debt
GE Capital Franchise Finance Corporation	$	10,683	7.17%	02/2017	15 years	4	$	10,819
GE Capital Franchise Finance Corporation		2,983	4.75%	02/2018	15 years	3		3,864
Cantor Commercial Real Estate Lending		5,798	4.25%	11/2017	30 years	1		5,826
Morgan Stanley Mortgage Capital Holdings, LLC		25,924	5.83%	12/2017	25 years	21		27,542
Total fixed rate debt		45,388						48,051
Variable rate debt
Great Western Bank		- (6)	4.50% (1)	06/2018	Interest only	2		3,215
GE Capital Franchise Finance Corporation		4,961	3.88% (2)	11/2020	25 years	1		4,990
GE Capital Franchise Finance Corporation		10,022	3.88% (2)	11/2020	25 years	1		10,079
The Huntington National Bank		9,923	2.69% (3)	11/2020	25 years	4		9,981
LMREC 2015 - CREI, Inc. (Latitude)		11,220	6.75% (4)	05/2018	$12 monthly (5)	1		11,220
Total variable rate debt		36,126				38		39,485
Total Long-term debt	$	81,514					$	87,536
Less: Deferred financing costs		(1,322)						(1,525)
Total long-term debt, net of deferred financing costs		80,192						86,011
Less: Long-term debt related to hotel properties held for sale, net of deferred financing costs of $215 and $292		(13,746)						(18,508)
Long-term debt related to hotel properties held for use, net of deferred financing costs of $1,107 and $1,233	$	66,446					$	67,503

(1) Prime rate plus 1%

(2) 90-day LIBOR plus 3.25%

(3) 30-day LIBOR plus 2.25%, fixed at 4.13% after giving effect to interest rate swap (see Note 6)

(4) 30-day LIBOR plus 6.25%

(5) $12 monthly payment begins May 2016

(6) Total availability under this revolving credit facility was $2,625 at March 31, 2016; commitment fee on unused facility is 0.25%

Aggregate Annual Principal Payments On Debt Associated With Assets Held For Use And Held For Sale

	Held for sale		Held for use		Total
Remainder of 2016	$	577	$	1,585	$	2,162
2017		10,831		31,160		41,991
2018		2,553		11,630		14,183
2019		-		676		676
2020		-		22,502		22,502
Total	$	13,961	$	67,553	$	81,514