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Impairments | 9 Months Ended
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Sep. 07, 2012
Asset Impairment Charges [Abstract] |
Impairments | Impairments During the fiscal quarter ended September 7, 2012, we recorded an impairment loss of $30.4 million related to the Oak Brook Hills Marriott Resort. We evaluated the recoverability of the hotel's carrying value given deteriorating operating forecasts for the year ending December 31, 2012. Based on our estimated undiscounted net cash flow, we concluded that the carrying value of the hotel was not recoverable. The Company estimated the fair value of the hotel using a discounted cash flow analysis and comparable sales information. In our analysis, we estimated the future net cash flows from the hotel, the expected useful life and holding period, and capitalization and discount rates. The impairment loss includes the impairment related to the hotel's favorable ground lease asset. See Note 5 for further discussion. We also recorded an impairment loss related to the Atlanta Westin North at Perimeter to reduce the carrying value of the hotel to the estimated net sales proceeds during the fiscal quarter ended September 7, 2012. See Note 11 for further discussion.

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- Definition The entire disclosure for the details of the charge against earnings resulting from the aggregate write down of all assets from their carrying value to their fair value. Disclosure may also include a description of the impaired asset and facts and circumstances leading to the impairment, amount of the impairment loss and where the loss is located in the income statement, method(s) for determining fair value, and the segment in which the impaired asset is reported. + References No definition available. + Details
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