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Discontinued Operations (Tables) | 9 Months Ended
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Sep. 07, 2012
Discontinued Operations and Disposal Groups [Abstract] |
Significant components of assets held for sale and liabilities of assets held for sale | The significant components of assets held for sale and liabilities of assets held for sale at September 7, 2012 (unaudited) and December 31, 2011 consist of the following (in thousands):
| September 7, 2012 |  | December 31, 2011
Property and equipment | $ | 53,083 |  |  | $ | 311,819 |
Less: accumulated depreciation | (14,326 | ) |  | (61,994 | )
| 38,757 |  |  | 249,825 |
Restricted cash | 695 |  |  | 6,607 |
Due from hotel managers | 2,030 |  |  | 6,661 |
Prepaid and other assets | 337 |  |  | 48 |
Deferred financing costs, net | — |  |  | 258 |
Total assets held for sale | $ | 41,819 |  |  | $ | 263,399 |
Mortgage debt of assets held for sale | $ | — |  |  | $ | 180,000 |
Due to hotel managers | 1,434 |  |  | 3,101 |
Accounts payable and accrued liabilities | 301 |  |  | 704 |
Total liabilities of assets held for sale | $ | 1,735 |  |  | $ | 183,805 |
Summary of results of income (loss) from discontinued operations | The following table summarizes the components of discontinued operations in the condensed consolidated statements of operations for the periods presented (unaudited; in thousands, except per share data):
| Fiscal Quarter Ended |  | Period from
| September 7, 2012 |  | September 9, 2011 |  | January 1, 2012 to September 7, 2012 |  | January 1, 2011 to September 9, 2011
Hotel revenues | $ | 4,129 |  |  | $ | 22,160 |  |  | $ | 31,329 |  |  | $ | 66,733 |
Hotel operating expenses | (2,890 | ) |  | (17,299 | ) |  | (23,254 | ) |  | (51,155 | )
Operating income | 1,239 |  |  | 4,861 |  |  | 8,075 |  |  | 15,578 |
Depreciation and amortization | (449 | ) |  | (3,224 | ) |  | (1,346 | ) |  | (9,665 | )
Interest income | — |  |  | — |  |  | 1 |  |  | 11 |
Interest expense | — |  |  | (2,325 | ) |  | (2,297 | ) |  | (6,974 | )
Impairment charge | (14,690 | ) |  | — |  |  | (14,690 | ) |  | — |
(Loss) gain on sale of hotel portfolio | (336 | ) |  | — |  |  | 9,541 |  |  | — |
Income tax benefit (expense) | 147 |  |  | 441 |  |  | (189 | ) |  | 851 |
Loss from discontinued operations | $ | (14,089 | ) |  | $ | (247 | ) |  | $ | (905 | ) |  | $ | (199 | )
Basic and diluted loss from discontinued operations per share | $ | (0.08 | ) |  | $ | (0.00 | ) |  | $ | (0.00 | ) |  | $ | (0.00 | )

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- Definition Tabular disclosure of long lived assets held for sale. Disclosure may include the description of the facts and circumstances leading to the expected disposal, manner and timing of disposal, the carrying value of the assets held for sale, the gain (loss) recognized in the income statement and the income statement caption that includes that gain (loss). + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 144 -Paragraph 33, 47 -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 360 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=6391110&loc=d3e2941-110230 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6360339&loc=d3e1361-107760 + Details
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- Definition Tabular disclosure of disposal groups, which may include the gain (loss) recognized in the income statement and the income statement caption that includes that gain (loss), amounts of revenues and pretax profit or loss reported in discontinued operations, the classification and carrying value of the assets and liabilities comprising the disposal group, and the segment in which the disposal group was reported. Also may include the amount of adjustments to amounts previously reported in discontinued operations such as resolution of contingencies arising from the disposal transaction or the operations of the component prior to disposal. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 45 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=6892542&loc=d3e957-107759 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=6360339&loc=d3e1474-107760 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 144 -Paragraph 43, 44, 45, 47, 48 -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 360 -SubTopic 10 -Section 45 -Paragraph 5 -URI http://asc.fasb.org/extlink&oid=6390789&loc=d3e2443-110228 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6360339&loc=d3e1361-107760 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 5 -URI http://asc.fasb.org/extlink&oid=6360339&loc=d3e1510-107760 + Details
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