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Revenue | 9 Months Ended
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Sep. 30, 2018
Revenue from Contract with Customer [Abstract] |
Revenue | Revenue On January 1, 2018, we adopted Topic 606 using the modified retrospective method. As the adoption of this standard did not have a material impact on our condensed consolidated financial statements, no adjustments to opening retained earnings were made as of January 1, 2018. Results for reporting periods beginning after January 1, 2018, are presented under Topic 606, while prior period amounts are not adjusted and continue to be reported in accordance with our historic accounting under ASC Topic 605-Revenue Recognition. Rooms revenue represents revenues from the occupancy of our hotel rooms and is driven by the occupancy and average daily rate charged. Rooms revenue includes revenue for guest no-shows, day use, and early/late departure fees. The contracts for room stays with customers are generally short in duration and revenues are recognized as services are provided over the course of the hotel stay. Food & Beverage (“F&B”) revenue consists of revenue from the restaurants and lounges at our hotel properties, In-room dining and mini-bars revenue, and banquet/catering revenue from group and social functions. Other F&B revenue may include revenue from audio-visual equipment/services, rental of function rooms, and other F&B related revenues. Revenue is recognized as the services or products are provided. Our hotel properties may employ third parties to provide certain services at the property, for example, audio visual services. We evaluate each of these contracts to determine if the hotel is the principal or the agent in the transaction, and record the revenues as appropriate (i.e. gross vs. net). Other revenue consists of ancillary revenue at the property, including attrition and cancellation fees, condo management fees, resort and destination fees, health center fees, spas, golf, telecommunications, parking, entertainment and other guest services, as well as rental revenue, primarily consisting of leased retail outlets at our hotel properties, and membership initiation fees and dues, primarily from club memberships. Attrition and cancellation fees are recognized for non-cancellable deposits when the customer provides notification of cancellation within established management policy time frames. Non-refundable membership initiation fees are recognized over the expected life of an active membership. For the three and nine months ended September 30, 2018, the Company recorded $0 and $3.3 million of business interruption income for the Tampa Renaissance related to a settlement for lost profits from the BP Deepwater Horizon oil spill in the Gulf of Mexico in 2010. Taxes collected from customers and submitted to taxing authorities are not recorded in revenue. Interest income is recognized when earned. We discontinue recording interest and amortizing discounts/premiums when the contractual payment of interest and/or principal is not received when contractually due. The following tables present our revenue disaggregated by geographical areas (in thousands):
|  | Three Months Ended September 30, 2018
Primary Geographical Market |  | Number of Hotels |  | Rooms |  | Food and Beverage |  | Other Hotel |  | Other |  | Total
California |  | 4 |  | $ | 26,368 |  |  | $ | 5,209 |  |  | $ | 2,404 |  |  | $ | — |  |  | $ | 33,981 |
Colorado |  | 1 |  | 3,178 |  |  | 3,112 |  |  | 2,438 |  |  | — |  |  | 8,728 |
Florida |  | 2 |  | 8,194 |  |  | 4,335 |  |  | 3,420 |  |  | — |  |  | 15,949 |
Illinois |  | 1 |  | 8,157 |  |  | 2,280 |  |  | 327 |  |  | — |  |  | 10,764 |
Pennsylvania |  | 1 |  | 7,137 |  |  | 1,422 |  |  | 267 |  |  | — |  |  | 8,826 |
Washington |  | 1 |  | 11,035 |  |  | 1,799 |  |  | 380 |  |  | — |  |  | 13,214 |
Washington, D.C. |  | 1 |  | 8,638 |  |  | 2,729 |  |  | 264 |  |  | — |  |  | 11,631 |
USVI |  | 1 |  | 1,651 |  |  | 285 |  |  | 3,817 |  |  | — |  |  | 5,753 |
Total |  | 12 |  | $ | 74,358 |  |  | $ | 21,171 |  |  | $ | 13,317 |  |  | $ | — |  |  | $ | 108,846 |
|  | Three Months Ended September 30, 2017
Primary Geographical Market |  | Number of Hotels |  | Rooms |  | Food and Beverage |  | Other Hotel |  | Other |  | Total
California |  | 4 |  | $ | 24,578 |  |  | $ | 5,160 |  |  | $ | 2,228 |  |  | $ | — |  |  | $ | 31,966 |
Colorado |  | 1 |  | 3,203 |  |  | 3,156 |  |  | 2,355 |  |  | — |  |  | 8,714 |
Florida |  | 1 |  | 2,884 |  |  | 587 |  |  | 258 |  |  | — |  |  | 3,729 |
Illinois |  | 1 |  | 7,144 |  |  | 2,014 |  |  | 221 |  |  | — |  |  | 9,379 |
Pennsylvania |  | 1 |  | 6,341 |  |  | 1,095 |  |  | 159 |  |  | — |  |  | 7,595 |
Washington |  | 1 |  | 10,850 |  |  | 1,710 |  |  | 323 |  |  | — |  |  | 12,883 |
Washington, D.C. |  | 1 |  | 9,518 |  |  | 3,136 |  |  | 295 |  |  | — |  |  | 12,949 |
USVI |  | 1 |  | 4,641 |  |  | 2,943 |  |  | 1,474 |  |  | — |  |  | 9,058 |
Sold hotel properties |  | 2 |  | 8,177 |  |  | 3,346 |  |  | 284 |  |  | — |  |  | 11,807 |
Corporate entities |  | — |  | — |  |  | — |  |  | — |  |  | 39 |  |  | 39 |
Total |  | 13 |  | $ | 77,336 |  |  | $ | 23,147 |  |  | $ | 7,597 |  |  | $ | 39 |  |  | $ | 108,119 |
|  | Nine Months Ended September 30, 2018
Primary Geographical Market |  | Number of Hotels |  | Rooms |  | Food and Beverage |  | Other Hotel |  | Other |  | Total
California |  | 4 |  | $ | 69,007 |  |  | $ | 18,163 |  |  | $ | 8,258 |  |  | $ | — |  |  | $ | 95,428 |
Colorado |  | 1 |  | 14,736 |  |  | 9,676 |  |  | 7,712 |  |  | — |  |  | 32,124 |
Florida |  | 2 |  | 24,474 |  |  | 12,191 |  |  | 7,343 |  |  | — |  |  | 44,008 |
Illinois |  | 1 |  | 19,359 |  |  | 6,100 |  |  | 908 |  |  | — |  |  | 26,367 |
Pennsylvania |  | 1 |  | 21,641 |  |  | 4,314 |  |  | 867 |  |  | — |  |  | 26,822 |
Washington |  | 1 |  | 25,587 |  |  | 5,164 |  |  | 1,006 |  |  | — |  |  | 31,757 |
Washington, D.C. |  | 1 |  | 30,390 |  |  | 10,965 |  |  | 884 |  |  | — |  |  | 42,239 |
USVI |  | 1 |  | 4,939 |  |  | 616 |  |  | 13,616 |  |  | — |  |  | 19,171 |
Sold hotel properties |  | 1 |  | 8,171 |  |  | 2,875 |  |  | 3,491 |  |  | — |  |  | 14,537 |
Total |  | 13 |  | $ | 218,304 |  |  | $ | 70,064 |  |  | $ | 44,085 |  |  | $ | — |  |  | $ | 332,453 |
|  | Nine Months Ended September 30, 2017
Primary Geographical Market |  | Number of Hotels |  | Rooms |  | Food and Beverage |  | Other Hotel |  | Other |  | Total
California |  | 4 |  | $ | 61,157 |  |  | $ | 16,612 |  |  | $ | 6,392 |  |  | $ | — |  |  | $ | 84,161 |
Colorado |  | 1 |  | 4,920 |  |  | 4,700 |  |  | 4,040 |  |  | — |  |  | 13,660 |
Florida |  | 1 |  | 13,253 |  |  | 2,660 |  |  | 954 |  |  | — |  |  | 16,867 |
Illinois |  | 1 |  | 18,441 |  |  | 5,604 |  |  | 506 |  |  | — |  |  | 24,551 |
Pennsylvania |  | 1 |  | 19,082 |  |  | 3,372 |  |  | 688 |  |  | — |  |  | 23,142 |
Washington |  | 1 |  | 25,024 |  |  | 6,153 |  |  | 872 |  |  | — |  |  | 32,049 |
Washington, D.C. |  | 1 |  | 32,908 |  |  | 11,896 |  |  | 977 |  |  | — |  |  | 45,781 |
USVI |  | 1 |  | 21,713 |  |  | 11,014 |  |  | 6,102 |  |  | — |  |  | 38,829 |
Sold hotel properties |  | 2 |  | 27,705 |  |  | 13,589 |  |  | 1,057 |  |  | — |  |  | 42,351 |
Corporate entities |  | — |  | — |  |  | — |  |  | — |  |  | 116 |  |  | 116 |
Total |  | 13 |  | $ | 224,203 |  |  | $ | 75,600 |  |  | $ | 21,588 |  |  | $ | 116 |  |  | $ | 321,507 |

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- Definition The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -URI http://asc.fasb.org/topic&trid=49130388 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -URI http://asc.fasb.org/topic&trid=2122369 + Details
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