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Fair Value Measurements And Derivative Instruments (Tables)
12 Months Ended
Dec. 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 December  31, 2017

 

Notional amount at December 31, 2016

Wells Fargo

 

Swap

 

Swaps 30-day LIBOR for fixed rate of 2.053%

 

11/2017

 

11/2022

 

$

26,465 (1)

 

$

 -



 

 

 

 

 

 

 

 

 

 

 

 

 

 

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

 

11/2015

 

11/2020

 

$

 -

 

$

7,361 (1)



 

 

 

 4.13 %; cancellable at Company's option anytime

 

 

 

 

 

 

 

 

 

 



 

 

 

after 11/01/2018 without penalty

 

 

 

 

 

 

 

 

 

 

Latitude

 

Cap

 

Caps 30-day LIBOR at 1.0%

 

03/2016

 

06/2017

 

$

 -

 

$

11,124 (1)



 

 

 

 

 

 

 

 

 

 

 

 

 

 

(1)

Notional amounts amortize consistently with the principal amortization of the associated loans

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



 

 

 

 

 

 

 

 

 

 

 

 



 

Fair value at December 31, 2017

 

Level 1

 

Level 2

 

Level 3

Interest rate derivatives

 

$

77 

 

$

 -

 

$

77 

 

$

 -

Series E Preferred embedded redemption option

 

 

314 

 

 

 -

 

 

 -

 

 

314 

Convertible debt

 

 

(1,069)

 

 

 -

 

 

 -

 

 

(1,069)

Total

 

$

(678)

 

$

 -

 

$

77 

 

$

(755)





 

 

 

 

 

 

 

 

 

 

 

 



 

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





 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 



 

Year ended December 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

 

 

164 

 

 

246 

 

 

410 

 

 

4,848 

 

 

1,800 

 

 

(303)

 

 

6,345 

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

 

$

314 

 

$

(1,069)

 

$

(755)

 

$

 -

 

$

 -

 

$

(1,315)

 

$

(1,315)



 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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

 

$

164 

 

$

246 

 

$

410 

 

$

 -

 

$

 -

 

$

(303)

 

$

(303)



(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 at December 31,

 

Estimated fair value at December 31,



 

2017

 

2016

 

2017

 

2016

Held for use

 

$

115,605 

 

$

47,918 

 

$

115,239 

 

$

48,034 

Held for sale

 

 

4,976 

 

 

14,802 

 

 

4,976 

 

 

15,186 

Total

 

$

120,581 

 

$

62,720 

 

$

120,215 

 

$

63,220 



Schedule Of Impairment And Recovery Of Previously Recorded Impairment



 

 

 

 

 

 

 

 

 

 

 

 

 

 

 



 

Year ended December 31,



 

2017

 

2016

 

2015



 

Number of hotels

 

Impairment (loss) recovery

 

Number of hotels

 

Impairment (loss) recovery

 

Number of hotels

 

Impairment (loss) recovery

Continuing Operations:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Held for sale hotels:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Impairment loss

 

 

$

(1,448)

 

 -

 

$

 -

 

 

$

(1,537)

Sold hotels:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Impairment loss

 

 

 

(783)

 

 

 

(1,477)

 

 

 

(2,377)

Recovery of impairment

 

 

 

80 

 

 -

 

 

 -

 

 

 

85 

Net impairment loss reported in continuing operations

 

 

$

(2,151)

 

 

$

(1,477)

 

 

$

(3,829)



 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Discontinued Operations:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Sold hotels:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Impairment loss

 

 -

 

$

 -

 

 -

 

$

 -

 

 

$

(117)

Recovery of impairment

 

 -

 

 

 -

 

 -

 

 

 -

 

 

 

238 

Net impairment loss reported in discontinued operations

 

 -

 

$

 -

 

 -

 

$

 -

 

 

$

121 



 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total net impairment:

 

 

$

(2,151)

 

 

$

(1,477)

 

11 

 

$

(3,708)