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Acquisitions (Tables)

12 Months Ended

Dec. 31, 2016

Business Combinations [Abstract]

Schedule of Acquired Assets and Liabilities

The following table summarizes the estimated fair values of the assets acquired and liabilities assumed in our acquisitions (in thousands):

		Shorebreak Hotel				Sheraton Suites Key West
Land		$	19,908			$	49,592
Building and improvements		37,525				42,958
Furniture, fixtures and equipment		1,338				1,378
Total fixed assets		58,771				93,928
Unfavorable lease liability		(349		)		—
Other assets and liabilities, net		401				500
Total		$	58,823			$	94,428

Pro Forma Operating Information

The following pro forma financial information for 2015 presents our results of operations (in thousands, except per share data) as if the hotels acquired in 2015 were acquired on January 1, 2014. The pro forma information is not necessarily indicative of the results that actually would have occurred nor does it indicate future operating results.

	Year Ended December 31, 2015
	(unaudited)
Revenues	$	942,547
Net income	$	89,184
Earnings per share:
Basic earnings per share	$	0.44
Diluted earnings per share	$	0.44

X

- Definition

Tabular disclosure of pro forma results of operations for a material business acquisition or series of individually immaterial business acquisitions that are material in the aggregate.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 805
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (h)(2)-(3)
-URI http://asc.fasb.org/extlink&oid=65885119&loc=d3e1392-128463

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X

- Definition

Tabular disclosure of the amounts recognized as of the acquisition date for each major class of assets acquired and liabilities assumed. May include but not limited to the following: (a) acquired receivables; (b) contingencies recognized at the acquisition date; and (c) the fair value of noncontrolling interests in the acquiree.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 805
-SubTopic 20
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=73530397&loc=d3e4845-128472

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