Subsequent Events

6 Months Ended

Jun. 30, 2017

Subsequent Events [Abstract]

Subsequent Events

NOTE 16.  SUBSEQUENT EVENTS

On July 17, 2017, the Company entered into hotel purchase agreements to purchase three Texas properties, the Fairfield Inn & Suites El Paso Airport for $16,100, the TownePlace Suites Austin North Tech Ridge for $21,750, and the Residence Inn Austin Airport for $21,750.  The closing of these acquisitions is subject to customary closing conditions including accuracy of representations and warranties and compliance with covenants and obligations.  The closings of the El Paso and Austin Airport properties are expected to occur in the late third quarter of 2017 while the closing of the Austin North Tech Ridge property is expected to occur in the first quarter of 2018.  However, there can be no guarantee that these transactions will close.  Should the Company close on these acquisitions, the Company may accelerate the disposition of up to five more of the legacy assets.

The Company’s common stock began trading on the NYSE MKT under its current symbol “CDOR” beginning at the open of market trading on July 21, 2017.  The Company’s common stock previously traded on the NASDAQ Stock Market.