Hotel Disposition

9 Months Ended

Sep. 30, 2017

Discontinued Operations and Disposal Groups [Abstract]

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. Since the sale of the hotel property did 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 as shown in the condensed consolidated statements of operations for the three and nine months ended September 30, 2016. The following table includes the condensed financial information from this hotel property (in thousands):



	Three Months Ended			Nine Months Ended
	September 30, 2016			September 30, 2016
Total hotel revenue	$	—		$	7,995
Total hotel operating expenses	—			(4,463		)
Operating income (loss)	—			3,532
Property taxes, insurance and other	—			(333		)
Depreciation and amortization	—			(834		)
Gain (loss) on sale of hotel property	26,359			26,359
Interest expense and amortization of loan costs	—			(1,709		)
Income (loss) before income taxes	26,359			27,015
(Income) loss before income taxes attributable to redeemable noncontrolling interests in operating partnership	(2,899		)	(2,972		)
Income (loss) before income taxes attributable to the Company	$	23,460		$	24,043