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Acquisition and Disposition of Hotel Properties | 12 Months Ended
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Dec. 31, 2024
Business Combination, Asset Acquisition, and Joint Venture Formation [Abstract] |
Acquisition and Disposition of Hotel Properties | Acquisition and Disposition of Hotel Properties Acquisitions The Company did not acquire any hotel properties during the years ended December 31, 2024 or 2023. Dispositions The Company did not dispose of any hotel properties during the year ended December 31, 2024. The following table summarizes disposition transactions during the year ended December 31, 2023 (in thousands):
Hotel Property Name |  | Location |  | Sale Date |  | Sale Price
The Heathman Hotel |  | Portland, OR |  | February 22, 2023 |  | $ | 45,000 |
Retail at The Westin Michigan Avenue Chicago |  | Chicago, IL |  | March 17, 2023 |  | 27,300 |
Hotel Colonnade Coral Gables |  | Coral Gables, FL |  | March 28, 2023 |  | 63,000 |
Hotel Monaco Seattle |  | Seattle, WA |  | May 9, 2023 |  | 63,250 |
Hotel Vintage Seattle |  | Seattle, WA |  | May 24, 2023 |  | 33,700 |
Hotel Zoe Fisherman’s Wharf |  | San Francisco, CA |  | November 14, 2023 |  | 68,500 |
Marina City Retail at Hotel Chicago Downtown, Autograph Collection |  | Chicago, IL |  | December 21, 2023 |  | 30,000 |
2023 Total |  |  |  |  |  | $ | 330,750 |
For the years ended December 31, 2023 and 2022, the accompanying consolidated statements of operations and comprehensive income included operating loss of $0.8 million and $3.9 million, respectively, excluding impairment loss and gain on sale of hotel properties related to the hotel properties sold and held for sale. There was no impact for the year ended December 31, 2024. The sales of the hotel properties described above did not represent a strategic shift that had a major effect on the Company’s operations and financial results, and therefore, did not qualify as discontinued operations.

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- Definition The entire disclosure for business combinations, including leverage buyout transactions (as applicable), and divestitures. This may include a description of a business combination or divestiture (or series of individually immaterial business combinations or divestitures) completed during the period, including background, timing, and assets and liabilities recognized and reclassified or sold. This element does not include fixed asset sales and plant closings. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 805 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/805/tableOfContent Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 205 -SubTopic 20 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/205-20/tableOfContent + Details
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