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Fair Value Measurements And Derivative Instruments (Tables)
 12 Months Ended
Dec. 31, 2016
Fair Value Measurements And Derivative Instruments [Abstract]  
Schedule Of Interest Rate Swaps And Caps



 

 

 

 

 

 

 

 

 

 

 

 

 

 

Associated debt

 

Type

 

Terms

 

Effective Date

 

Maturity Date

 

Notional amount at December  31, 2016

 

Notional amount at December  31, 2015

Huntington

 

Swap

 

Swaps 30-day LIBOR +  2.25% for fixed rate of

 

11/2015

 

11/2020

 

$

7,361 (1)

 

$

9,981 (1)



 

 

 

 4.13 %; cancellable at Company's option anytime

 

 

 

 

 

 

 

 

 

 



 

 

 

after 11/01/2018 without penalty

 

 

 

 

 

 

 

 

 

 



 

 

 

 

 

 

 

 

 

 

 

 

 

 

Latitude

 

Cap

 

Caps 30-day LIBOR at 1.0%

 

03/2016

 

06/2017

 

$

11,124 (1)

 

$

 -



 

 

 

 

 

 

 

 

 

 

 

 

 

 

Latitude

 

Cap

 

Caps 30-day LIBOR at 2.5%

 

10/2015

 

05/2016

 

$

 -

 

$

11,220 (1)



(1)

Notional amounts amortize consistently with the principal amortization of the associated loans

Schedule Of Fair Value Liabilities Measured On Recurring Basis



 

Fair value at

 

 

 

 

 

 

 

 

 



 

December 31, 2016

 

Level 1

 

Level 2

 

Level 3

Interest rate derivative

 

$

 8 

 

$

 -

 

$

 8 

 

$

 -

Convertible debt

 

 

 1,315 

 

 

 -

 

 

 -

 

 

 1,315 



 

$

 1,323 

 

$

 -

 

$

 8 

 

$

 1,315 







 

 

 

 

 

 

 

 

 

 

 

 



 

Fair value at

 

 

 

 

 

 

 

 

 



 

December 31, 2015

 

Level 1

 

Level 2

 

Level 3

Series C preferred embedded derivative

 

$

 6,271 

 

$

 -

 

$

 -

 

$

 6,271 

Warrant derivative

 

 

 2,411 

 

 

 -

 

 

 -

 

 

 2,411 

Interest rate derivatives

 

 

 77 

 

 

 -

 

 

 77 

 

 

 -



 

$

 8,759 

 

$

 -

 

$

 77 

 

$

 8,682 



Reconciliation Of Fair Value Liabilities Measured On Recurring Basis





 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 



 

Year ended December 31,



 

 

2016

 

2015



 

Series C Preferred embedded derivative

 

RES warrant derivative

 

Convertible debt

 

Total

 

Series C Preferred embedded derivative

 

RES warrant derivative

 

Total

Fair value, beginning of period

 

$

 6,271 

 

$

 2,411 

 

$

 -

 

$

 8,682 

 

$

 13,804 

 

$

 6,533 

 

$

 20,337 

Net (gains) losses recognized in earnings

 

 

 (4,848)

 

 

 (1,800)

 

 

 303 

 

 

 (6,345)

 

 

 (7,533)

 

 

 (4,122)

 

 

 (11,655)

Purchase and issuances

 

 

 -

 

 

 -

 

 

 1,012 

 

 

 1,012 

 

 

 -

 

 

 -

 

 

 -

Sales and settlements

 

 

 (1,423)

 

 

 -

 

 

 -

 

 

 (1,423)

 

 

 -

 

 

 -

 

 

 -

Gross transfers into Level 3

 

 

 -

 

 

 -

 

 

 -

 

 

 -

 

 

 -

 

 

 -

 

 

 -

Gross transfers out of Level 3 (1)

 

 

 -

 

 

 (611)

 

 

 -

 

 

 (611)

 

 

 -

 

 

 -

 

 

 -

Fair value, end of period

 

$

 -

 

$

 -

 

$

 1,315 

 

$

 1,315 

 

$

 6,271 

 

$

 2,411 

 

$

 8,682 



 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total unrealized (gains) losses during the period included in earnings related to instruments held at end of period

 

$

 -

 

$

 -

 

$

 303 

 

$

 303 

 

$

 (7,533)

 

$

 (4,122)

 

$

 (11,655)



(1)

RES warrants were permanently reclassified to additional paid-in capital as discussed above
Schedule Of Carrying Value And Estimated Fair Value Of Long-Term Debt



 

 

 

 

 

 

 

 

 

 

 

 



 

 

 

 

 

 

 

 

 

 

 

 



 

Carrying value at December 31,

 

Estimated fair value at December 31,



 

2016

 

2015

 

2016

 

2015



 

 

 

 

 

 

 

 

 

 

 

 

Held for use

 

$

 56,775 

 

$

 44,667 

 

$

 57,456 

 

$

 45,771 

Held for sale

 

 

 5,945 

 

 

 41,344 

 

 

 6,433 

 

 

 43,508 

Total

 

$

 62,720 

 

$

 86,011 

 

$

 63,889 

 

$

 89,279 



Schedule Of Impairment And Recovery Of Previously Recorded Impairment



 

 

 

 

 

 

 

 

 

 

 

 

 

 

 



 

Year ended December 31,



 

2016

 

2015

 

2014



 

Number of hotels

 

Impairment (loss) recovery

 

Number of hotels

 

Impairment (loss) recovery

 

Number of hotels

 

Impairment (loss) recovery

Continuing Operations:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Held for sale hotels:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Impairment loss

 

 4 

 

$

 (1,273)

 

 -

 

$

 -

 

 -

 

$

 -

Sold hotels:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Impairment loss

 

 1 

 

 

 (204)

 

 6 

 

 

 (3,914)

 

 2 

 

 

 (1,388)

Recovery of impairment

 

 -

 

 

 -

 

 1 

 

 

 85 

 

 1 

 

 

 119 

Net impairment loss reported in continuing operations

 

 5 

 

$

 (1,477)

 

 7 

 

$

 (3,829)

 

 3 

 

$

 (1,269)



 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Discontinued Operations:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Sold hotels:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Impairment loss

 

 -

 

$

 -

 

 1 

 

$

 (117)

 

 8 

 

$

 (2,450)

Recovery of impairment

 

 -

 

 

 -

 

 3 

 

 

 238 

 

 5 

 

 

 798 

Net impairment loss reported in discontinued operations

 

 -

 

$

 -

 

 4 

 

$

 121 

 

 13 

 

$

 (1,652)



 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total net impairment:

 

 5 

 

$

 (1,477)

 

 11 

 

$

 (3,708)

 

 16 

 

$

 (2,921)