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Hotel Dispositions
 6 Months Ended
Jun. 30, 2018
Discontinued Operations and Disposal Groups [Abstract]  
Hotel Dispositions
Hotel Dispositions
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.
On June 1, 2018, the Company sold the Tampa Renaissance hotel for $68.0 million in cash. The sale resulted in a gain of $15.7 million for both the three and six months ended June 30, 2018 and is included in “gain (loss) on sale of hotel property” in our condensed consolidated statements of operations.
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 our consolidated financial statements.
We included the results of operations for this hotel property through the date of disposition in net income (loss) as shown in our condensed consolidated statements of operations for the three and six months ended June 30, 2018 and 2017. The following table includes the condensed financial information from this hotel property (in thousands):
 
Three Months Ended June 30,
 
Six Months Ended June 30,
 
2018
 
2017
 
2018
 
2017
Total hotel revenue
$
7,197

 
$
14,522

 
$
14,537

 
$
30,544

Total hotel operating expenses
(2,521
)
 
(9,029
)
 
(7,499
)
 
(19,082
)
Operating income (loss)
4,676

 
5,493

 
7,038

 
11,462

Property taxes, insurance and other
(217
)
 
(735
)
 
(486
)
 
(1,372
)
Depreciation and amortization
(357
)
 
(2,180
)
 
(1,294
)
 
(4,301
)
Impairment charges
—

 
—

 
(12
)
 
—

Gain (loss) on sale of hotel property
15,711

 
—

 
15,711

 
—

Interest expense and amortization of loan costs
(303
)
 
(1,115
)
 
(791
)
 
(2,137
)
Income (loss) before income taxes
19,510

 
1,463

 
20,166

 
3,652

(Income) loss before income taxes attributable to redeemable noncontrolling interests in operating partnership
(2,179
)
 
(171
)
 
(2,253
)
 
(428
)
Income (loss) before income taxes attributable to the Company
$
17,331

 
$
1,292

 
$
17,913

 
$
3,224