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Fair Value Measurements And Derivative Instruments (Tables)
 3 Months Ended
Mar. 31, 2017
Fair Value Measurements And Derivative Instruments [Abstract]  
Schedule Of Interest Rate Swaps And Caps



 

 

 

 

 

 

 

 

 

 

 

 

 

 

Associated debt

 

Type

 

Terms

 

Effective date

 

Maturity date

 

 

Notional amount at March 31, 2017

 

 

Notional amount at December 31, 2016

Credit facility

 

Cap

 

Caps 30-day LIBOR at 2.50%

 

03/2017

 

03/2019

 

$

 50,000 

 

$

 -



 

 

 

 

 

 

 

 

 

 

 

 

 

 

Huntington

 

Swap

 

Swaps 30-day LIBOR + 2.25% for fixed rate of 4.13% cancellable at Company's option anytime after 11/01/2018 without penalty

 

11/2015

 

11/2020

 

$

 -

 

$

 7,361 

Latitude

 

Cap

 

Caps 30-day LIBOR at 1.0%

 

03/016

 

06/2017

 

$

 -

 

$

 11,124 



 

 

 

 

 

 

 

 

 

 

 

 

 

 





Schedule Of Fair Value Assets And (Liabilities) Carried At Fair Value And Measured On Recurring Basis



 

 

 

 

 

 

 

 

 

 

 

 



 

Fair value at

 

 

 

 

 

 

 

 

 



 

March 31, 2017

 

Level 1

 

Level 2

 

Level 3

Interest rate derivatives

 

$

 44 

 

$

 -

 

$

 44 

 

$

 -

Series E Preferred embedded redemption option

 

 

 93 

 

 

 -

 

 

 -

 

 

 93 

Convertible debt

 

 

 (1,075)

 

 

 -

 

 

 -

 

 

 (1,075)

Total

 

$

 (938)

 

$

 -

 

$

 44 

 

$

 (982)



 

 

 

 

 

 

 

 

 

 

 

 









 

 

 

 

 

 

 

 

 

 

 

 



 

Fair value at

 

 

 

 

 

 

 

 

 



 

December 31, 2016

 

Level 1

 

Level 2

 

Level 3

Interest rate derivatives

 

$

 (8)

 

$

 -

 

$

 (8)

 

$

 -

Convertible debt

 

 

 (1,315)

 

 

 -

 

 

 -

 

 

 (1,315)

Total

 

$

 (1,323)

 

$

 -

 

$

 (8)

 

$

 (1,315)



Reconciliation Of Fair Value Liabilities Measured On Recurring Basis



 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 



 

 

Three months ended March 31,



 

 

2017

 

 

2016



 

 

Series E Preferred embedded redemption option

 

Convertible debt

 

Total

 

Series C Preferred embedded derivative

 

RES warrant derivative

 

Convertible debt

 

Total

Fair value, beginning of period

 

 

$

 -

 

$

 (1,315)

 

$

 (1,315)

 

$

 (6,271)

 

$

 (2,411)

 

$

 -

 

$

 (8,682)

Net gains (losses) recognized in earnings

 

 

 

 (57)

 

 

 240 

 

 

 183 

 

 

 4,848 

 

 

 1,800 

 

 

 (387)

 

 

 6,261 

Purchase and issuances

 

 

 

 150 

 

 

 -

 

 

 150 

 

 

 -

 

 

 -

 

 

 (1,012)

 

 

 (1,012)

Sales and settlements

 

 

 

 -

 

 

 -

 

 

 -

 

 

 1,423 

 

 

 -

 

 

 -

 

 

 1,423 

Gross transfers into Level 3

 

 

 

 -

 

 

 -

 

 

 -

 

 

 -

 

 

 -

 

 

 -

 

 

 -

Gross transfers out of Level 3

 

 

 

 -

 

 

 -

 

 

 -

 

 

 -

 

 

611 (1)

 

 

 -

 

 

 611 

Fair value, end of period

 

 

$

 93 

 

$

 (1,075)

 

$

 (982)

 

$

 -

 

$

 -

 

$

 (1,399)

 

$

 (1,399)



 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 -

 

 

 

 

 

 

Total unrealized gains (losses) during the period included in earnings related to instruments held at end of period

 

 

$

 (57)

 

$

 240 

 

$

 183 

 

$

 -

 

$

 -

 

$

 (387)

 

$

 (387)



 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(1)

RES warrants were permanently reclassified to additional paid-in capital as discussed above



Schedule Of Carrying Value And Estimated Fair Value Of Long-Term Debt



 

 

 

 

 

 

 

 

 

 

 

 



 

Carrying value as of

 

Estimated fair value as of



 

March 31, 2017

 

December 31, 2016

 

March 31, 2017

 

December 31, 2016

Held for use

 

$

 69,945 

 

$

 56,775 

 

$

 69,052 

 

$

 56,842 

Held for sale

 

 

 3,288 

 

 

 5,945 

 

 

 3,288 

 

 

 6,378 

Total

 

$

 73,233 

 

$

 62,720 

 

$

 72,340 

 

$

 63,220 



 

 

 

 

 

 

 

 

 

 

 

 



Schedule Of Impairment And Recovery Of Previously Recorded Impairment



 

 

 

 

 

 

 

 

 



Three months ended March 31,



2017

 

2016



Number of hotels

 

 

Impairment (loss) recovery

 

Number of hotels

 

 

Impairment (loss) recovery

Held for sale hotels:

 

 

 

 

 

 

 

 

 

Impairment loss

 1 

 

$

 (351)

 

 2 

 

$

 (676)

Impairment recovery

 -

 

 

 -

 

 -

 

 

 -

Sold hotels:

 

 

 

 

 

 

 

 

 

Impairment loss

 -

 

 

 -

 

 1 

 

 

 (117)

Impairment recovery

 2 

 

 

 80 

 

 -

 

 

 -

Total net impairment (loss) recovery:

 3 

 

$

 (271)

 

 3 

 

$

 (793)