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Hotel Dispositions
 9 Months Ended
Sep. 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 the nine months ended September 30, 2018 and is included in “gain (loss) on sale of hotel property” in our condensed 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, the hotel properties’ results of operations were not reported as discontinued operations in our condensed consolidated financial statements.
We included the results of operations for these hotel properties through the dates of disposition in net income (loss) as shown in our condensed consolidated statements of operations for the three and nine months ended September 30, 2018 and 2017. The following table includes the condensed financial information from these hotel properties (in thousands):
 
Three Months Ended September 30,

Nine Months Ended September 30,
 
2018

2017

2018

2017
Total hotel revenue
$
—

 
$
11,807

 
$
14,537

 
$
42,351

Total hotel operating expenses
—

 
(7,713
)
 
(7,500
)
 
(26,795
)
Operating income (loss)
—

 
4,094

 
7,037

 
15,556

Property taxes, insurance and other
—

 
(504
)
 
(486
)
 
(1,876
)
Depreciation and amortization
—

 
(2,176
)
 
(1,294
)
 
(6,477
)
Impairment charges
—

 
(10
)
 
(12
)
 
(10
)
Gain (loss) on sale of hotel property
—

 
—

 
15,711

 
—

Interest expense and amortization of loan costs
—

 
(1,183
)
 
(791
)
 
(3,320
)
Income (loss) before income taxes
—

 
221

 
20,165

 
3,873

(Income) loss before income taxes attributable to redeemable noncontrolling interests in operating partnership
—

 
(26
)
 
(2,253
)
 
(454
)
Income (loss) before income taxes attributable to the Company
$
—

 
$
195

 
$
17,912

 
$
3,419