Disposition of Hotel Properties

9 Months Ended

Sep. 30, 2019

Discontinued Operations and Disposal Groups [Abstract]

On May 7, 2019, the Company sold the Courtyard by Marriott hotel in Altoona, PA for $4.6 million and recognized a loss on the sale of the hotel property of $4.4 million. On May 15, 2019, the Company sold the SpringHill Suites by Marriott hotel in Washington, PA for $5.1 million and recognized a gain on the sale of the hotel property of $1.1 million. Proceeds from the sales were used to repay amounts outstanding on the Company's senior unsecured revolving credit facility. These sales did not represent a strategic shift that had or will have a major effect on the Company's operations and financial results and did not qualify to be reported as discontinued operations.

During the three and nine months ended September 30, 2019 and 2018, the Company's consolidated statements of operations included operating income related to the disposed hotels as follows (in thousands):


	For the three months ended						For the nine months ended
	September 30,						September 30,
	2019		2018		2019		2018
Altoona CY	$	—	$	207	$	73	$	401
Washington SHS	—		216		198		481
Total	$	—	$	423	$	271	$	882