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Subsequent Events
12 Months Ended
Dec. 31, 2017
Subsequent Events [Abstract]  
Subsequent Events

NOTE 17.  SUBSEQUENT EVENTS



Subsequent Property Activity



On January 18, 2018, the Company closed on the acquisition of the 122-room TownePlace Suites Austin North Tech Ridge for a purchase price of $19,750This acquisition was financed using proceeds from the Company’s credit facility.



The Company sold the 41-room Supertel Inn in Creston, Iowa on January 25, 2018 for gross proceeds of $2,050. Net proceeds from the sales were applied to the Company’s credit facility.



On February 21, 2018, the Company closed on the acquisition of the 93-room Home2 Suites Summerville / Charleston for a purchase price of $16,325This acquisition was financed using proceeds from the Company’s credit facility of $14,818 as well as cash totaling $1,507.



The Company sold the 135-room Comfort Suites in South Bend, Indiana on March 15, 2018 for gross proceeds of $6,100. Net proceeds from the sales were applied to the Company’s credit facility.



Subsequent to December 31, 2017 through March 16, 2018,  one additional hotel property met the criteria to be considered held for sale. Investment in hotel property, net of $1,191 and debt of $3,089 related to this property remain classified in the December 31, 2017 balance sheet as held for use.



Subsequent Equity Transactions



Subsequent to December 31, 2017 through March 16, 2018, the Company has sold 12,334 shares of common stock under the ATM program at an average sales price of $10.40 per share for gross proceeds totaling $128 and net proceeds of $125, including cash commission fees paid to the Sales Agents and additional related costs.