XML 19 R7.htm IDEA: XBRL DOCUMENT v3.7.0.1
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2017
Mar. 31, 2016
Cash flows from operating activities:    
Net income $ 4,644 $ 3,322
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation 11,950 12,421
Amortization of deferred franchise fees 54 53
Amortization of deferred financing fees included in interest expense 260 268
Loss on early extinguishment of debt 0 4
Share based compensation 787 735
Loss from unconsolidated real estate entities 85 647
Changes in assets and liabilities:    
Hotel receivables (2,303) (2,647)
Deferred tax asset (426) 0
Deferred costs (24) 0
Prepaid expenses and other assets (2,435) (1,482)
Accounts payable and accrued expenses 1,219 749
Net cash provided by operating activities 14,663 14,070
Cash flows from investing activities:    
Improvements and additions to hotel properties (5,053) (4,593)
Distributions from unconsolidated entities 0 587
Restricted cash 967 (2,147)
Net cash used in investing activities (4,086) (6,153)
Cash flows from financing activities:    
Borrowings on revolving credit facility 16,000 15,500
Repayments on revolving credit facility (12,000) (10,500)
Payments on mortgage debt (1,058) (859)
Principal prepayment of mortgage debt 0 (5,954)
Payment of financing costs 0 (18)
Payment of offering costs (197) (1)
Proceeds from issuance of common shares 134 88
Distributions-common shares/units (12,805) (14,730)
Net cash used in financing activities (9,926) (16,474)
Net change in cash and cash equivalents 651 (8,557)
Cash and cash equivalents, beginning of period 12,118 21,036
Cash and cash equivalents, end of period 12,769 12,479
Supplemental disclosure of cash flow information:    
Cash paid for interest 6,564 6,729
Cash paid for income taxes $ 6 $ 0