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Assets and Liabilities Related to Real Estate Owned, Held for Sale (Tables)

3 Months Ended

Mar. 31, 2022

Real Estate [Abstract]

Schedule of Business Acquisitions

Below are the hotel's assets and liabilities as of March 31, 2022 on our condensed consolidated balance sheet ($ in thousands):

			March 31, 2022
Assets:
Cash			$	3,841
Land			58,742
Buildings			86,973
Furniture, fixtures, and equipment			8,766
Accumulated depreciation			(3,349)
Other assets			2,111
Total Assets			$	157,084
Liabilities:
Accounts payable, accrued expenses and other liabilities			5,712
Total Liabilities			$	5,712
Net Real Estate Assets			$	151,372

Real Estate Investment Financial Statements, Disclosure

For the three months ended March 31, 2022 and 2021, we recorded the operating revenue, expenses and fixed asset depreciation and amortization in our condensed consolidated income statement as shown below ($ in thousands):

			Three months ended March 31,
			2022			2021
Operations related to real estate owned:
Revenue from operations			$	9,040		$	—
Operating expenses			(9,652)			—
Depreciation and amortization			(704)			—
Net loss from real estate owned			$	(1,316)		$	—

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- Definition

Tabular disclosure of nonconsolidated investments in real estate including interests in corporations, partnerships and joint ventures. Disclosures may include summarized aggregate financial statements for the real estate investments.

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- Definition

Tabular disclosure of a material business combination completed during the period, including background, timing, and recognized assets and liabilities. This table does not include leveraged buyouts.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 805
-SubTopic 10
-Section 50
-Paragraph 3
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Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 805
-SubTopic 10
-Section 50
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=79982066&loc=d3e1392-128463

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