XML 26 R15.htm IDEA: XBRL DOCUMENT
v3.22.2

Investment in Unconsolidated Entities | 6 Months Ended
--- | ---
Jun. 30, 2022
Equity Method Investments and Joint Ventures [Abstract] |
Investment in Unconsolidated Entities | Investment in Unconsolidated Entities On June 9, 2014, the Company acquired a 10.3% interest in the NewINK JV, a joint venture between affiliates of NorthStar Realty Finance Corp. ("NorthStar") and the Operating Partnership. NorthStar merged with Colony Capital, Inc. ("Colony") on January 10, 2017 to form a new company, CLNY, which owned a 89.7% interest in the NewINK JV. Chatham sold its interest in the NewINK JV in March 2021 for $2.8 million which resulted in Chatham recording a gain on sale of investment in unconsolidated real estate entities of $23.8 million during the six months ended June 30, 2021. The Company accounted for this investment under the equity method. On November 17, 2014, the Company acquired a 10.0% interest in the Inland JV, a joint venture between affiliates of NorthStar and the Operating Partnership. NorthStar merged with Colony on January 10, 2017 to form a new company, CLNY, which owned a 90% interest in the Inland JV. Chatham sold its interest in the Inland JV for $0 in September 2021. The Company accounted for this investment under the equity method. The following table sets forth the combined components of net loss, including the Company’s share, related to the NewINK JV and the Inland JV for the three and six months ended June 30, 2022 and 2021 (in thousands):
| For the three months ended |  | For the six months ended
| June 30, |  | June 30,
| 2022 |  | 2021 |  | 2022 |  | 2021
Revenue | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 24,690 |
Total hotel operating expenses | — |  |  | — |  |  | — |  |  | 24,106 |
Hotel operating income | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 584 |
Loss from continuing operations | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | (13,109) |
Net loss | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | (13,109) |
Loss allocable to the Company | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | (1,347) |
Basis difference adjustment | — |  |  | — |  |  | — |  |  | 116 |
Total loss from unconsolidated real estate entities attributable to the Company | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | (1,231) |

X
- References No definition available. + Details
Name: | us-gaap_EquityMethodInvestmentsAndJointVenturesAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- 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/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 323 -URI https://asc.fasb.org/topic&trid=2196965 + Details
Name: | us-gaap_EquityMethodInvestmentsDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration