Revenue

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 from leased retail outlets at our hotel properties, and membership initiation fees and dues, primarily from club memberships. Cancellation fees are recognized from non-cancellable deposits when the customer provides notification of cancellation in accordance with established management policy time frames. Non-refundable membership initiation fees are recognized over the expected life of an active membership.

For the three and six months ended June 30, 2019, the Company recorded revenue from business interruption losses associated with lost profits from the hurricanes of $6.6 million and $12.6 million, respectively. For the three and six months ended June 30, 2018, the Company recorded revenue from business interruption losses associated with lost profits from the hurricanes of $5.2 million and $10.1 million, respectively. Additionally, during the three and six months ended June 30, 2018, the Company recorded revenue of $190,000 and $1.9 million, respectively, net of deductibles of $500,000, for business interruption losses associated with lost profits at the Bardessono Hotel and Hotel Yountville as a result of the Napa wildfires.

For the three and six months ended June 30, 2018, the Company recorded $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. No such revenue was recorded for the three and six months ended June 30, 2019.

Taxes specifically collected from customers and submitted to taxing authorities are not recorded in revenue. Interest income is recognized when earned.

The following tables present our revenue disaggregated by geographical areas (in thousands):



	Three Months Ended June 30, 2019
Primary Geographical Market	Number of Hotels	Rooms		Food and Beverage		Other Hotel		Other		Total
California	5	$	26,549	$	7,956	$	3,526	$	—	$	38,031
Colorado	1	1,376		1,416		1,728		—		4,520
Florida	2	11,444		6,591		4,181		—		22,216
Illinois	1	8,229		2,408		406		—		11,043
Pennsylvania	1	7,257		905		254		—		8,416
Washington	1	7,901		1,606		425		—		9,932
Washington, D.C.	1	12,363		4,430		436		—		17,229
USVI	1	2		478		6,649		—		7,129
Total	13	$	75,121	$	25,790	$	17,605	$	—	$	118,516



	Three Months Ended June 30, 2018
Primary Geographical Market	Number of Hotels	Rooms		Food and Beverage		Other Hotel		Other		Total
California	4	$	23,535	$	5,649	$	2,379	$	—	$	31,563
Colorado	1	1,761		1,745		1,731		—		5,237
Florida	2	10,807		7,053		3,172		—		21,032
Illinois	1	7,783		2,569		371		—		10,723
Pennsylvania	1	8,351		1,719		303		—		10,373
Washington	1	9,050		1,701		361		—		11,112
Washington, D.C.	1	12,791		3,896		337		—		17,024
USVI	1	1,472		132		5,253		—		6,857
Sold hotel properties	1	2,889		929		3,379		—		7,197
Total	13	$	78,439	$	25,393	$	17,286	$	—	$	121,118



	Six Months Ended June 30, 2019
Primary Geographical Market	Number of Hotels	Rooms		Food and Beverage		Other Hotel		Other		Total
California	5	$	56,463	$	18,121	$	7,452	$	—	$	82,036
Colorado	1	10,973		6,252		5,394		—		22,619
Florida	2	26,440		14,687		9,003		—		50,130
Illinois	1	11,552		3,546		702		—		15,800
Pennsylvania	1	11,494		1,713		483		—		13,690
Washington	1	13,017		3,421		807		—		17,245
Washington, D.C.	1	21,071		8,991		818		—		30,880
USVI	1	842		1,173		12,609		—		14,624
Corporate entities	—	—		—		—		5		5
Total	13	$	151,852	$	57,904	$	37,268	$	5	$	247,029



	Six Months Ended June 30, 2018
Primary Geographical Market	Number of Hotels	Rooms		Food and Beverage		Other Hotel		Other		Total
California	4	$	42,639	$	12,954	$	5,854	$	—	$	61,447
Colorado	1	11,558		6,564		5,274		—		23,396
Florida	2	16,280		7,856		3,923		—		28,059
Illinois	1	11,202		3,820		581		—		15,603
Pennsylvania	1	14,504		2,892		600		—		17,996
Washington	1	14,552		3,365		626		—		18,543
Washington, D.C.	1	21,752		8,236		620		—		30,608
USVI	1	3,288		331		9,799		—		13,418
Sold hotel properties	1	8,171		2,875		3,491		—		14,537
Total	13	$	143,946	$	48,893	$	30,768	$	—	$	223,607