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Hotel Disposition
 12 Months Ended
Dec. 31, 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 the year ended December 31, 2016 and is included in “gain on sale of hotel property” in the 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 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 years ended December 31, 2016, 2015 and 2014, respectively. The following table includes the condensed financial information from this hotel property (in thousands):
 
Year Ended December 31,
 
2016
 
2015
 
2014
Total hotel revenue
$
7,995

 
$
16,259

 
$
15,339

Total hotel operating expenses
(4,463
)
 
(9,089
)
 
(8,749
)
Operating income (loss)
3,532

 
7,170

 
6,590

Property taxes, insurance and other
(333
)
 
(627
)
 
(496
)
Depreciation and amortization
(834
)
 
(2,091
)
 
(1,957
)
Gain (loss) on sale of hotel property
26,359

 
—

 
—

Interest expense and amortization of loan costs
(1,709
)
 
(3,503
)
 
(3,551
)
Income before income taxes
27,015

 
949

 
586

(Income) loss before income taxes attributable to redeemable noncontrolling interests in operating partnership
(2,972
)
 
(121
)
 
(152
)
Income (loss) before income taxes attributable to the Company
$
24,043

 
$
828

 
$
434