Investment in Unconsolidated Joint Venture (Tables)

12 Months Ended

Dec. 31, 2019

Investment in Unconsolidated Joint Venture [Abstract]

Schedule of Financial Position of Unconsolidated Joint Ventures

	As of December 31,
	2019		2018
Investment in hotel properties, net	$	45,547	$	46,933
Cash and cash equivalents		661		913
Restricted cash, property escrows		-		366
Accounts receivable, prepaid expenses, and other assets		279		294
Total Assets	$	46,487	$	48,506
Accounts payable, accrued expenses, and other liabilities	$	1,026	$	1,375
Land option liability		6,190		6,190
Long-term debt, net of deferred financing costs		33,966		33,608
Total Liabilities		41,182		41,173
Condor equity		4,244		5,866
TWC equity		1,061		1,467
Total Equity		5,305		7,333
Total Liabilities and Equity	$	46,487	$	48,506

Summary of Results of Operations of Unconsolidated Joint Ventures

	Year ended December 31,
	2019		2018		2017
Revenue
Room rentals and other hotel services	$	12,666	$	11,888	$	11,582
Operating Expenses
Hotel and property operations		8,084		7,855		7,585
Depreciation and amortization		1,494		1,444		1,425
Total operating expenses		9,578		9,299		9,010
Operating income		3,088		2,589		2,572
Net loss on disposition of assets		(2)		(197)		(8)
Net loss on derivative		(1)		(27)		(3)
Interest expense		(2,675)		(2,637)		(2,323)
Loss on extinguishment of debt		(172)		-		-
Net earnings (loss)	$	238	$	(272)	$	238
Condor allocated earnings (loss)	$	190	$	(218)	$	190
TWC allocated earnings (loss)		48		(54)		48
Net earnings (loss)	$	238	$	(272)	$	238