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Hotel Disposition
 12 Months Ended
Dec. 31, 2017
Discontinued Operations and Disposal Groups [Abstract]  
Hotel Disposition
Hotel Dispositions
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 our consolidated statements of operations.
On November 1, 2017, the Company sold the Plano Marriott Legacy Town Center for $104.0 million in cash. The sale resulted in a gain of $23.8 million for the year ended December 31, 2017 and is included in “gain on sale of hotel property” in our consolidated statements of operations.
Since the sales of the hotel properties 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 our consolidated financial statements.
We included the results of operations for these assets through the date of disposition in net income (loss) as shown in our consolidated statements of operations for the years ended December 31, 2017, 2016 and 2015, respectively. The following table includes the condensed financial information from these hotel properties (in thousands):
 
Year Ended December 31,
 
2017
 
2016
 
2015
Total hotel revenue
$
27,250

 
$
39,995

 
$
48,292

Total hotel operating expenses
(16,673
)
 
(24,106
)
 
(28,820
)
Operating income (loss)
10,577

 
15,889

 
19,472

Property taxes, insurance and other
(1,171
)
 
(1,717
)
 
(1,966
)
Depreciation and amortization
(3,796
)
 
(5,157
)
 
(6,200
)
Gain (loss) on sale of hotel property
23,797

 
26,359

 
—

Interest expense and amortization of loan costs
(2,303
)
 
(6,308
)
 
(8,181
)
Write-off of loan costs and exit fees
(607
)
 
(2,595
)
 
—

Income before income taxes
26,497

 
26,471

 
3,125

(Income) loss before income taxes attributable to redeemable noncontrolling interests in operating partnership
(3,029
)
 
(3,679
)
 
(398
)
Income (loss) before income taxes attributable to the Company
$
23,468

 
$
22,792

 
$
2,727