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Discontinued Operations
 3 Months Ended
Mar. 31, 2013
Discontinued Operations and Disposal Groups [Abstract]  
Discontinued Operations
Discontinued Operations

We sold four hotels during 2012 in two separate transactions. In March 2012, we completed the sale of a three-hotel portfolio, which consisted of the Griffin Gate Marriott Resort and Spa, the Renaissance Waverly, and the Renaissance Austin. The operating results of these hotels, as well as the gain on sale, are reported in discontinued operations on the accompanying condensed consolidated statement of operations for the fiscal quarter ended March 23, 2012. Discontinued operations for the fiscal quarter ended March 23, 2012 also includes the operating results of the Atlanta Westin North at Perimeter, which we sold in October 2012.

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):
 
 
Quarter Ended March 23, 2012
Hotel revenues
 
$
22,602

Hotel operating expenses
 
(16,774
)
Operating income
 
5,828

Depreciation and amortization
 
(457
)
Interest income
 
1

Interest expense
 
(2,297
)
Gain on sale of hotel portfolio
 
9,877

Income tax expense
 
(229
)
Income from discontinued operations
 
$
12,723

Basic and diluted income from discontinued operations per share
 
$
0.08