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Investment in Unconsolidated Entities | 12 Months Ended
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Dec. 31, 2016
Equity Method Investments and Joint Ventures [Abstract] |
Investment in Unconsolidated Entities | Investment in Unconsolidated Entities On April 17, 2013, the Company acquired a 5.0% interest in the Torrance JV with Cerberus for $1.6 million. The Torrance JV acquired the 248-room (unaudited) Residence Inn by Marriott in Torrance, CA for $31.0 million. The Company accounted for this investment under the equity method. During the years ended December 31, 2016 and 2015, the Company received cash distributions from the Torrance JV as follows (in thousands):
|  | For the year ended
|  | December 31,
|  | 2016 |  | 2015
Cash generated from other activities and excess cash |  | $ | — |  |  | $ | 185 |
Total |  | $ | — |  |  | $ | 185 |
On December 30, 2015, the Torrance JV completed the sale of the 248-room (unaudited) Residence Inn by Marriott in Torrance, CA for $51.8 million to BRE Torrance Holdco LLC ("BRE"). The gain from the Company's promote interest in the Torrance JV was approximately $3.6 million. The Company owned a 10.3% interest in the Innkeepers JV, which owned 51 hotels comprising an aggregate of 6,845 rooms (unaudited) until June 9, 2014. The Company accounted for this investment under the equity method. On June 9, 2014, the Innkeepers JV completed the sale of 47 of the 51-hotels owned by the Innkeepers JV to the NewINK JV NorthStar owns an 89.7% interest and the Company owns a 10.3% interest in the NewINK JV. The remaining four hotels that were part of the 51-hotel Innkeeper's JV portfolio, each of which is a Residence Inn hotel located in Silicon Valley, CA ("Silicon Valley Hotels"), were purchased by the Company. The Company accounts for its investment in the NewINK JV under the equity method. The remeasurement gain of the Company's interest in the four Silicon Valley Hotels as a result of the step acquisition was approximately $18.8 million and the net gain from the Company's promote interest in the Innkeepers JV was approximately $47.0 million (which was credited toward the purchase of the Silicon Valley Hotels), resulting in a total gain of $65.8 million from the transaction. For tax purposes, the Company's gain resulting from this transaction was rolled tax deferred between the basis of the Company's investment in the NewINK JV and the Company's basis in the four Silicon Valley Hotels. As of December 31, 2016 and December 31, 2015, the Company's share of partners' capital in the NewINK JV is approximately $10.1 million and $14.0 million, respectively, and the total difference between the carrying amount of the investment and the Company's share of partners' capital is approximately $16.1 million and $16.7 million (for which the basis difference related to amortizing assets is being recognized over the life of the related assets as a basis difference adjustment). During the years ended December 31, 2016 and 2015, the Company received cash distributions from the NewINK JV as follows (in thousands):
| For the year ended
| December 31,
| 2016 |  | 2015
Cash generated from other activities and excess cash | $ | 4,728 |  |  | $ | 5,884 |
Total | $ | 4,728 |  |  | $ | 5,884 |
On November 17, 2014, the Company acquired a 10.0% interest in Inland JV. NorthStar owns a 90.0% interest in the Inland JV. The Company accounts for this investment under the equity method. During the years ended December 31, 2016 and 2015, the Company received cash distributions from the Inland JV as follows (in thousands):
| For the year ended
| December 31,
| 2016 |  | 2015
Cash generated from other activities and excess cash | $ | 2,500 |  |  | $ | 2,845 |
Total | $ | 2,500 |  |  | $ | 2,845 |
The Company’s ownership interests in the JVs are subject to change in the event that either the Company or NorthStar calls for additional capital contributions to the respective JVs necessary for the conduct of business, including contributions to fund costs and expenses related to capital expenditures. The Company could be required under its unconditional guaranty to repay portions of the debt of the JV's. The Company manages the JVs and will receive a promote interest in each applicable JV if it meets certain return thresholds for such JV. NorthStar may also approve certain actions by the JVs without the Company’s consent, including certain property dispositions conducted at arm’s length, certain actions related to the restructuring of the applicable JV and removal of the Company as managing member in the event the Company fails to fulfill its material obligations under the applicable joint venture agreement. The Company's investments in the NewInk JV and the Inland JV are $(6.0) million and $20.4 million, respectively, at December 31, 2016. The following tables sets forth the total assets, liabilities, equity and components of net income (loss), including the Company’s share, related to all JVs for the years ended December 31, 2016, 2015 and 2014 (in thousands):
Balance Sheet |  |  |  |  |
| December 31, 2016 |  | December 31, 2015 |  | December 31, 2014
Assets |  |  |  |  |
Investment in hotel properties, net | $ | 1,849,295 |  |  | $ | 1,857,497 |  |  | $ | 1,907,928 |
Other assets | 143,769 |  |  | 206,894 |  |  | 261,311 |
Total Assets | $ | 1,993,064 |  |  | $ | 2,064,391 |  |  | $ | 2,169,239 |
Liabilities |  |  |  |  |
Mortgages and notes payable | $ | 1,656,949 |  |  | $ | 1,657,000 |  |  | $ | 1,677,159 |
Other Liabilities | 34,567 |  |  | 35,807 |  |  | 34,929 |
Total Liabilities | 1,691,516 |  |  | 1,692,807 |  |  | 1,712,088 |
Equity |  |  |  |  |
Chatham Lodging Trust | 30,428 |  |  | 37,633 |  |  | 45,470 |
Joint Venture Partner | 271,120 |  |  | 333,951 |  |  | 411,681 |
Total Equity | 301,548 |  |  | 371,584 |  |  | 457,151 |
Total Liabilities and Equity | $ | 1,993,064 |  |  | $ | 2,064,391 |  |  | $ | 2,169,239 |
|  | For the year ended
Statement of Operations |  | December 31,
|  | 2016 |  | 2015 |  | 2014
Revenue |  | $ | 484,708 |  |  | $ | 497,698 |  |  | $ | 290,419 |
Total hotel operating expenses |  | 289,569 |  |  | 290,123 |  |  | 166,849 |
Hotel operating income |  | $ | 195,139 |  |  | $ | 207,575 |  |  | $ | 123,570 |
Net income (loss) from continuing operations |  | $ | 964 |  |  | $ | 19,241 |  |  | $ | (40,018 | )
Loss on sale of hotels |  | $ | — |  |  | $ | — |  |  | $ | (5 | )
Net income (loss) |  | $ | 964 |  |  | $ | 19,241 |  |  | $ | (40,023 | )
Income (loss) allocable to the Company |  | $ | 118 |  |  | $ | 1,811 |  |  | $ | (4,165 | )
Basis difference adjustment |  | $ | 600 |  |  | $ | 600 |  |  | $ | 335 |
Total income (loss) from unconsolidated real estate entities attributable to Chatham |  | $ | 718 |  |  | $ | 2,411 |  |  | $ | (3,830 | )

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- Definition The entire disclosure for equity method investments and joint ventures. Equity method investments are investments that give the investor the ability to exercise significant influence over the operating and financial policies of an investee. Joint ventures are entities owned and operated by a small group of businesses as a separate and specific business or project for the mutual benefit of the members of the group. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 323 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=66011266&loc=d3e33918-111571 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 323 -SubTopic 10 -Section 35 -Paragraph 35 -URI http://asc.fasb.org/extlink&oid=64825282&loc=d3e32847-111569 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.12) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 323 -SubTopic 10 -Section 35 -Paragraph 32 -URI http://asc.fasb.org/extlink&oid=64825282&loc=d3e32787-111569 + Details
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