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Hotel Disposition
 9 Months Ended
Sep. 30, 2016
Discontinued Operations and Disposal Groups [Abstract]  
Hotel Disposition
Hotel Disposition
On July 1, 2016, the Company sold the Courtyard Seattle Downtown for $84.5 million in cash. The sale resulted in a gain of $26.4 million for both the three and nine months ended September 30, 2016 and is included in “gain on sale of hotel property” in the condensed consolidated statements of operations. Since the sale of the hotel property does not represent a strategic shift that has (or will have) a major effect on our operations or financial results, its results of operations were not reported as discontinued operations in the condensed consolidated financial statements.
We included the results of operations for these assets through the date of disposition in net income (loss) as shown in the consolidated statements of operations for the three and nine months ended September 30, 2016 and 2015, respectively. The following table includes the condensed financial information from this hotel property (in thousands):
 
Three Months Ended September 30,
 
Nine Months Ended September 30,
 
2016
 
2015
 
2016
 
2015
Total hotel revenue
$
—

 
$
5,662

 
$
7,995

 
$
12,877

Total hotel operating expenses
—

 
(3,163
)
 
(4,463
)
 
(7,174
)
Operating income
—

 
2,499

 
3,532

 
5,703

Property taxes, insurance and other
—

 
(159
)
 
(333
)
 
(472
)
Depreciation and amortization
—

 
(531
)
 
(834
)
 
(1,558
)
Gain on sale of hotel property
26,359

 
—

 
26,359

 
—

Interest expense and amortization of loan costs
—

 
(881
)
 
(1,709
)
 
(2,624
)
Net income
26,359

 
928

 
27,015

 
1,049

Net income attributable to redeemable noncontrolling interests in operating partnership
(2,899
)
 
(153
)
 
(2,972
)
 
(173
)
Net income attributable to the Company
$
23,460

 
$
775

 
$
24,043

 
$
876