Investment in Unconsolidated Joint Venture (Tables)

6 Months Ended

Jun. 30, 2018

Investment in Unconsolidated Joint Venture [Abstract]

Schedule of Financial Position of Unconsolidated Joint Ventures

	As of
	June 30, 2018		December 31, 2017
Investment in hotel properties, net	$	47,311	$	48,013
Cash and cash equivalents		1,471		1,404
Restricted cash, property escrows		1,081		682
Accounts receivable, prepaid expenses, and other assets		369		176
Total Assets	$	50,232	$	50,275
Accounts payable, accrued expenses, and other liabilities	$	1,699	$	1,019
Land option liability		6,190		6,190
Long-term debt, net of deferred financing costs		33,495		33,382
Total Liabilities		41,384		40,591
Condor equity		7,078		7,747
TWC equity		1,770		1,937
Total Equity		8,848		9,684
Total Liabilities and Equity	$	50,232	$	50,275

Summary of Results of Operations of Unconsolidated Joint Ventures

	Three months ended June 30,				Six months ended June 30,
	2018		2017		2018		2017
Revenue
Room rentals and other hotel services	$	3,106	$	3,061	$	6,378	$	6,050
Operating Expenses
Hotel and property operations		2,008		2,062		4,013		3,923
Depreciation and amortization		364		356		721		710
Total operating expenses		2,372		2,418		4,734		4,633
Operating income		734		643		1,644		1,417
Net loss on disposition of assets		(8)		(3)		(17)		(4)
Net loss on derivative		-		(2)		-		(2)
Interest expense		(647)		(579)		(1,262)		(1,241)
Net earnings	$	79	$	59	$	365	$	170
Condor allocated earnings	$	63	$	25	$	292	$	136
TWC allocated earnings		16		34		73		34
Net earnings	$	79	$	59	$	365	$	170