Long-Term Debt (Tables)

9 Months Ended

Sep. 30, 2016

Long-Term Debt [Abstract]

Summary Of Long Term Debt

Lender		Balance at September 30, 2016	Interest rate at September 30, 2016	Maturity	Amortization provision	Properties encumbered at September 30, 2016		Balance at December 31, 2015
Fixed rate debt
Western Alliance Bank (1)	$	10,409	7.17%	02/2017	15 years	5	$	10,819
Western Alliance Bank (1)		2,864	4.75%	02/2018	15 years	2		3,864
Cantor Commercial Real Estate Lending		5,742	4.25%	11/2017	30 years	1		5,826
Morgan Stanley Mortgage Capital Holdings, LLC		9,600	5.83%	12/2017	25 years	10		27,542
Total fixed rate debt		28,615						48,051
Variable rate debt
Great Western Bank (7)		-	4.50% (2)	06/2018	Interest only	2		3,215
Western Alliance Bank (1)		4,908	4.09% (3)	11/2020	25 years	1		4,990
Western Alliance Bank (1)		9,914	4.09% (3)	11/2020	25 years	1		10,079
The Huntington National Bank		9,806	2.71% (4)	11/2020	25 years	4		9,981
LMREC 2015 - CREI, Inc. (Latitude)		11,160	6.88% (5)	05/2018	$12 monthly (6)	1		11,220
Total variable rate debt		35,788				27		39,485
Total long-term debt	$	64,403					$	87,536
Less: Deferred financing costs		(820)						(1,525)
Total long-term debt, net of deferred financing costs		63,583						86,011
Less: Long-term debt related to hotel properties held for sale, net of deferred financing costs of $130 and $545		(10,900)						(30,235)
Long-term debt related to hotel properties held for use, net of deferred financing costs of $690 and $980	$	52,683					$	55,776

(1) This debt, previously owned by GE Capital Franchise Finance Corporation, was sold to Western Alliance Bank in April 2016

(2) Prime rate plus 1%

(3)  90-day LIBOR plus 3.25%

(4)  30-day LIBOR plus 2.25%, fixed at 4.13% after giving effect to interest rate swap (see Note 7)

(5)  30-day LIBOR plus 6.25%,  30-day LIBOR capped at 1% after giving effect to market rate cap (see Note 7)

(6)  $12 monthly payment began May 2016

(7) Total availability under this revolving credit facility was $1,566 atSeptember 30, 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	$	213	$	416	$	629
2017		6,215		20,095		26,310
2018		2,519		11,595		14,114
2019		60		547		607
2020		2,023		20,720		22,743
Total	$	11,030	$	53,373	$	64,403