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, business interruption revenue 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 nine months ended September 30, 2019, the Company recorded revenue from business interruption losses associated with lost profits from hurricanes of $4.0 million and $16.6 million, respectively. For the three and nine months ended September 30, 2018, the Company recorded revenue from business interruption losses associated with lost profits from hurricanes of $3.8 million and $13.9 million, respectively. Additionally, during the three and nine months ended September 30, 2018, the Company recorded revenue of $0 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 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. No such revenue was recorded for the three and nine months ended September 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 September 30, 2019
Primary Geographical Market	Number of Hotels	Rooms			Food and Beverage		Other Hotel		Other		Total
California	5	$	32,070		$	9,190	$	4,441	$	—	$	45,701
Colorado	1	3,086			3,615		2,368		—		9,069
Florida	2	8,234			4,124		3,308		—		15,666
Illinois	1	7,501			2,250		466		—		10,217
Pennsylvania	1	6,675			1,474		310		—		8,459
Washington	1	10,361			1,649		382		—		12,392
Washington, D.C.	1	8,889			3,688		378		—		12,955
USVI	1	(8		)	432		3,999		—		4,423
Corporate entities	—	—			—		—		2		2
Total	13	$	76,808		$	26,422	$	15,652	$	2	$	118,884



	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



	Nine Months Ended September 30, 2019
Primary Geographical Market	Number of Hotels	Rooms		Food and Beverage		Other Hotel		Other		Total
California	5	$	88,533	$	27,311	$	11,893	$	—	$	127,737
Colorado	1	14,059		9,867		7,762		—		31,688
Florida	2	34,674		18,811		12,311		—		65,796
Illinois	1	19,053		5,796		1,168		—		26,017
Pennsylvania	1	18,169		3,187		793		—		22,149
Washington	1	23,378		5,070		1,189		—		29,637
Washington, D.C.	1	29,960		12,679		1,196		—		43,835
USVI	1	834		1,605		16,608		—		19,047
Corporate entities	—	—		—		—		7		7
Total	13	$	228,660	$	84,326	$	52,920	$	7	$	365,913



	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