Acquisition of Hotel Properties (Tables)

9 Months Ended

Sep. 30, 2017

Schedule of Allocation Of Purchase Price Of Acquisition

the Hilton Garden Inn Portsmouth ("Portsmouth") hotel for $43.4 million on September 20,2017. The allocation of the purchase price was (dollars in thousands):



	Portsmouth
Acquisition date	9/20/2017
Number of Rooms	131
Land	$	3,600
Building and improvements	37,630
Furniture, fixtures and equipment	2,120
Cash	8
Accounts receivable	32
Prepaid expenses and other assets	12
Accounts payable and accrued expenses	(27		)
Net assets acquired	$	43,375
Net assets acquired, net of cash	$	43,367

Revenue and Operating Income of New Hotels Acquired

The amount of revenue and operating income from the hotel acquired in 2017 from its respective date of acquisition through September 30, 2017 is as follows (in thousands):



	For the three months ended September 30,								For the nine months ended September 30,
	2017				2016				2017				2016
	Revenue		Operating Income		Revenue		Operating Income		Revenue		Operating Income		Revenue		Operating Income

Hilton Garden Inn Portsmouth	$	392	$	241	$	—	$	—	$	392	$	241	$	—	$	—
Total	$	392	$	241	$	—	$	—	$	392	$	241	$	—	$	—