Investment in Unconsolidated Joint Venture (Tables)

3 Months Ended

Mar. 31, 2020

Investment in Unconsolidated Joint Venture [Abstract]

Schedule of Financial Position of Unconsolidated Joint Ventures

	As of
	December 31, 2019
Investment in hotel properties, net	$	45,547
Cash and cash equivalents		661
Accounts receivable, prepaid expenses, and other assets		279
Total Assets	$	46,487
Accounts payable, accrued expenses, and other liabilities	$	1,026
Land option liability		6,190
Long-term debt, net of deferred financing costs		33,966
Total Liabilities		41,182
Condor equity		4,244
TWC equity		1,061
Total Equity		5,305
Total Liabilities and Equity	$	46,487

Summary of Results of Operations of Unconsolidated Joint Ventures

		For the period of January 1 to February 14,		Three months ended March 31,
	2020		2019
Revenue
Room rentals and other hotel services	$	1,522	$	3,874
Operating Expenses
Hotel and property operations		960		2,177
Depreciation and amortization		181		371
Total operating expenses		1,141		2,548
Operating income		381		1,326
Net loss on derivative		-		(1)
Interest expense		(281)		(684)
Net earnings	$	100	$	641
Condor allocated earnings	$	80	$	513
TWC allocated earnings		20		128
Net earnings	$	100	$	641