Investment in Unconsolidated Joint Venture (Tables)

3 Months Ended

Mar. 31, 2019

Investment in Unconsolidated Joint Venture [Abstract]

Schedule of Financial Position of Unconsolidated Joint Ventures

	As of
	March 31, 2019		December 31, 2018
Investment in hotel properties, net	$	46,611	$	46,933
Cash and cash equivalents		989		913
Restricted cash, property escrows		731		366
Accounts receivable, prepaid expenses, and other assets		375		294
Total Assets	$	48,706	$	48,506
Accounts payable, accrued expenses, and other liabilities	$	1,127	$	1,375
Land option liability		6,190		6,190
Long-term debt, net of deferred financing costs		33,665		33,608
Total Liabilities		40,982		41,173
Condor equity		6,179		5,866
TWC equity		1,545		1,467
Total Equity		7,724		7,333
Total Liabilities and Equity	$	48,706	$	48,506

Summary of Results of Operations of Unconsolidated Joint Ventures

	Three months ended March 31,
	2019		2018
Revenue
Room rentals and other hotel services	$	3,874	$	3,272
Operating Expenses
Hotel and property operations		2,177		2,005
Depreciation and amortization		371		357
Total operating expenses		2,548		2,362
Operating income		1,326		910
Net loss on derivative		(1)		(9)
Interest expense		(684)		(615)
Net earnings	$	641	$	286
Condor allocated earnings	$	513	$	229
TWC allocated earnings		128		57
Net earnings	$	641	$	286