Investment in Unconsolidated Joint Venture (Tables)

12 Months Ended

Dec. 31, 2018

Investment in Unconsolidated Joint Venture [Abstract]

Schedule Of Purchase Price Allocation

Hotel	Date of acquisition	Land		Buildings, improvements, and vehicles		Furniture and equipment		Land option (1)		Total purchase price		Debt at acquisition		Net cash paid
Aloft	08/22/2016	$	13,025	$	34,048	$	2,667	$	(6,190)	$	43,550	$	33,750	$	9,800
Atlanta, GA

(1) The purchase agreement includes a provision which permits the seller to purchase the surface parking lot north of the hotel exercisable for ten years at less than market rates

Schedule of Financial Position of Unconsolidated Joint Ventures

	As of December 31,
	2018		2017
Investment in hotel properties, net	$	46,933	$	48,013
Cash and cash equivalents		913		1,404
Restricted cash, property escrows		366		682
Accounts receivable, prepaid expenses, and other assets		294		176
Total Assets	$	48,506	$	50,275
Accounts payable, accrued expenses, and other liabilities	$	1,375	$	1,019
Land option liability		6,190		6,190
Long-term debt, net of deferred financing costs		33,608		33,382
Total Liabilities		41,173		40,591
Condor equity		5,866		7,747
TWC equity		1,467		1,937
Total Equity		7,333		9,684
Total Liabilities and Equity	$	48,506	$	50,275

Summary of Results of Operations of Unconsolidated Joint Ventures

	Year ended December 31,
	2018		2017		2016
Revenue
Room rentals and other hotel services	$	11,888	$	11,582	$	3,703
Operating Expenses
Hotel and property operations		7,855		7,585		2,457
Depreciation and amortization		1,444		1,425		471
Acquisition		-		-		299
Total operating expenses		9,299		9,010		3,227
Operating income		2,589		2,572		476
Net loss on disposition of assets		(197)		(8)		(2)
Net loss on derivative		(27)		(3)		(6)
Interest expense		(2,637)		(2,323)		(773)
Net earnings (loss)	$	(272)	$	238	$	(305)
Condor allocated earnings (loss)	$	(218)	$	190	$	(244)
TWC allocated earnings (loss)		(54)		48		(61)
Net earnings (loss)	$	(272)	$	238	$	(305)