Investment in Unconsolidated Joint Venture (Tables)

6 Months Ended

Jun. 30, 2019

Investment in Unconsolidated Joint Venture [Abstract]

Schedule of Financial Position of Unconsolidated Joint Ventures

	As of
	June 30, 2019		December 31, 2018
Investment in hotel properties, net	$	46,271	$	46,933
Cash and cash equivalents		533		913
Restricted cash, property escrows		880		366
Accounts receivable, prepaid expenses, and other assets		627		294
Total Assets	$	48,311	$	48,506
Accounts payable, accrued expenses, and other liabilities	$	1,283	$	1,375
Land option liability		6,190		6,190
Long-term debt, net of deferred financing costs		33,722		33,608
Total Liabilities		41,195		41,173
Condor equity		5,693		5,866
TWC equity		1,423		1,467
Total Equity		7,116		7,333
Total Liabilities and Equity	$	48,311	$	48,506

Summary of Results of Operations of Unconsolidated Joint Ventures

	Three months ended June 30,				Six months ended June 30,
	2019		2018		2019		2018
Revenue
Room rentals and other hotel services	$	3,184	$	3,106	$	7,058	$	6,378
Operating Expenses
Hotel and property operations		1,900		2,008		4,077		4,013
Depreciation and amortization		374		364		745		721
Total operating expenses		2,274		2,372		4,822		4,734
Operating income		910		734		2,236		1,644
Net loss on disposition of assets		-		(8)		-		(17)
Net loss on derivative		-		-		(1)		-
Interest expense		(702)		(647)		(1,386)		(1,262)
Net earnings	$	208	$	79	$	849	$	365
Condor allocated earnings	$	166	$	63	$	679	$	292
TWC allocated earnings		42		16		170		73
Net earnings	$	208	$	79	$	849	$	365