CNL Lifestyle Properties (CLLY) 10-K 27 Mar 17 2016 FY Annual report Financial data

Document and Entity Information

Document and Entity Information - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2016	Mar. 16, 2017	Jun. 30, 2016
Document And Entity Information [Abstract]
Document Type	10-K
Amendment Flag	false
Document Period End Date	Dec. 31, 2016
Document Fiscal Year Focus	2,016
Document Fiscal Period Focus	FY
Trading Symbol	ck0001261159
Entity Registrant Name	CNL LIFESTYLE PROPERTIES INC
Entity Central Index Key	1,261,159
Current Fiscal Year End Date	--12-31
Entity Well-known Seasoned Issuer	No
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Entity Filer Category	Non-accelerated Filer
Entity Common Stock, Shares Outstanding		325,182,969
Entity Public Float			$ 992

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2015
ASSETS
Real estate investment properties, net (including $55,941 and $58,832 related to consolidated variable interest entities, respectively)	$ 678,041	$ 712,589
Assets held for sale, net	0	42,719
Investments in and advances to unconsolidated entities	0	73,434
Cash	56,816	83,544
Deferred rent and lease incentives	32,931	43,992
Restricted cash	23,701	28,025
Other assets	15,363	16,778
Intangibles, net	15,880	16,487
Accounts and other receivables, net	19,690	11,893
Total Assets	842,422	1,029,461
LIABILITIES AND STOCKHOLDERS’ EQUITY
Mortgages and other notes payable (including $18,628 and $19,503 related to consolidated variable interest entities, respectively)	146,251	184,341
Other liabilities	24,352	27,160
Accounts payable and accrued expenses	12,591	12,845
Income tax liabilities	8,424	9,778
Due to affiliates	475	420
Total Liabilities	192,093	234,544
Commitments and contingencies
Stockholders’ equity:
Preferred stock, $.01 par value per share 200 million shares authorized and unissued	0	0
Excess shares, $.01 par value per share 120 million shares authorized and unissued	0	0
Common stock, $.01 par value per share One billion shares authorized; 349,084 shares issued and 325,183 shares outstanding as of December 31, 2016 and 2015, respectively	3,252	3,252
Capital in excess of par value	2,863,833	2,863,833
Accumulated deficit	(298,288)	(364,236)
Accumulated distributions	(1,910,445)	(1,699,076)
Accumulated other comprehensive loss	(8,023)	(8,856)
Total Stockholders’ Equity	650,329	794,917
Total Liabilities and Stockholders’ Equity	$ 842,422	$ 1,029,461

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2015
Real estate investment properties, net	$ 678,041	$ 712,589
Mortgages and other notes payable	$ 146,251	$ 184,341
Preferred stock, par value (in dollars per share)	$ 0.01	$ 0.01
Preferred stock, shares authorized (in shares)	200,000,000	200,000,000
Preferred stock, shares unissued (in shares)	200,000,000	200,000,000
Excess shares, par value (in dollars per share)	$ 0.01	$ 0.01
Excess shares, shares authorized (in shares)	120,000,000	120,000,000
Excess shares, shares unissued (in shares)	120,000,000	120,000,000
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	1,000,000,000	1,000,000,000
Common stock, shares issued (in shares)	349,084,000	349,084,000
Common stock, shares outstanding (in shares)	325,183,000	325,183,000
Variable interest entities
Real estate investment properties, net	$ 55,941	$ 58,832
Mortgages and other notes payable	$ 18,628	$ 19,503

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Revenues:
Rental income from operating leases	$ 139,365	$ 125,239	$ 128,023
Property operating revenues	101,750	211,104	236,860
Interest income on mortgages and other notes receivable	0	1,322	8,412
Total revenues	241,115	337,665	373,295
Expenses:
Property operating expenses	80,881	174,111	190,165
Asset management fees to advisor	11,914	15,666	18,651
General and administrative	15,098	15,635	17,136
Ground lease and permit fees	11,316	10,341	10,162
Acquisition fees and costs	0	0	664
Other operating expenses	12,078	6,878	5,328
Bad debt expense	1,854	8,536	291
Loan loss provision	0	9,319	3,270
Loss on lease terminations	0	0	8,914
Impairment provisions	8,142	124,873	30,428
Depreciation and amortization	66,792	83,481	98,664
Total expenses	208,075	448,840	383,673
Operating income (loss)	33,040	(111,175)	(10,378)
Other income (expense):
Interest and other income	1,569	2,172	838
Interest expense and loan cost amortization	(11,141)	(26,931)	(57,260)
Loss on extinguishment of debt	(25)	(21,065)	(1,391)
Equity in earnings of unconsolidated entities	1,290	6,153	7,753
Gain on purchase of controlling interest in unconsolidated entity	30,025	0	0
Total other income (expense)	21,718	(39,671)	(50,060)
Income tax benefit (expense)	1,354	(9,778)	0
Income (loss) from continuing operations	56,112	(160,624)	(60,438)
Income (loss) from discontinued operations (includes $3,027 amortization of loss and loss on termination of cash flow hedge for the year ended December 31, 2014)	9,691	204,671	(31,706)
Net income (loss) before gain on sale of real estate and unconsolidated entities	65,803	44,047	(92,144)
Gain on sale of real estate (includes $609 reclassification of cumulative foreign currency translation adjustments for the year ended December 31, 2016)	145	46,594	0
Gain from sale of unconsolidated entities	0	39,252	0
Net income (loss)	$ 65,948	$ 129,893	$ (92,144)
Net income (loss) per share of common stock (basic and diluted)
Continuing operations (in dollars per shares)	$ 0.17	$ (0.23)	$ (0.18)
Discontinued operations (in dollars per shares)	0.03	0.63	(0.10)
Net income (loss) per share (in dollars per shares)	$ 0.20	$ 0.40	$ (0.28)
Weighted average number of shares of common stock outstanding (basic and diluted) (in shares)	325,183	325,183	324,451

CONSOLIDATED STATEMENTS OF OPE5

CONSOLIDATED STATEMENTS OF OPERATIONS (Parenthetical) $ in Thousands	12 Months Ended
	Dec. 31, 2014USD ($)
Amortization of loss and loss on termination of cash flow hedges	$ 3,486
Reclassification of cumulative foreign currency translation adjustments	0
Discontinued Operations
Amortization of loss and loss on termination of cash flow hedges	$ 3,027

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Statement of Comprehensive Income [Abstract]
Net income (loss)	$ 65,948	$ 129,893	$ (92,144)
Other comprehensive income (loss):
Unrealized foreign currency translation adjustments	22	(4,970)	(2,933)
Reclassification of cumulative foreign currency translation adjustments	609	0	0
Changes in fair value of cash flow hedges:
Amortization of loss and loss on termination of cash flow hedges	0	180	3,486
Unrealized gain arising during the period	202	204	883
Total other comprehensive (loss) income	833	(4,586)	1,436
Total comprehensive income (loss)	$ 66,781	$ 125,307	$ (90,708)

CONSOLIDATED STATEMENTS OF STOC

CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY - USD ($) shares in Thousands, $ in Thousands	Total	Common Stock	Capital in Excess of Par Value	Accumulated Deficit	Accumulated Distributions	Accumulated Other Comprehensive Income (Loss)
Balance (in shares) at Dec. 31, 2013		322,627
Balance at Dec. 31, 2013	$ 1,368,378	$ 3,226	$ 2,846,265	$ (401,985)	$ (1,073,422)	$ (5,706)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Subscriptions received for stock through public offering reinvestment plan (in shares)		3,970
Subscriptions received for stock through public offering reinvestment plan	27,209	$ 40	27,169
Redemption of common stock (in shares)		(1,413)
Redemption of common stock	(9,609)	$ (14)	(9,595)
Net income (loss)	(92,144)			(92,144)
Distributions, declared and paid ($0.4252 per share for 2014, $1.5000 per share for 2015, and $0.6500 per share for 2016)	(137,880)				(137,880)
Foreign currency translation adjustment	(2,933)					(2,933)
Amortization of loss on termination of cash flow hedges	3,486					3,486
Current period adjustment to recognize changes in fair value of cash flow hedges, net of reclassification	883					883
Balance (in shares) at Dec. 31, 2014		325,184
Balance at Dec. 31, 2014	1,157,390	$ 3,252	2,863,839	(494,129)	(1,211,302)	(4,270)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Redemption of common stock (in shares)		(1)
Redemption of common stock	(6)		(6)
Net income (loss)	129,893			129,893
Distributions, declared and paid ($0.4252 per share for 2014, $1.5000 per share for 2015, and $0.6500 per share for 2016)	(487,774)				(487,774)
Foreign currency translation adjustment	(4,970)					(4,970)
Amortization of loss on termination of cash flow hedges	180					180
Current period adjustment to recognize changes in fair value of cash flow hedges, net of reclassification	$ 204					204
Balance (in shares) at Dec. 31, 2015	325,183	325,183
Balance at Dec. 31, 2015	$ 794,917	$ 3,252	2,863,833	(364,236)	(1,699,076)	(8,856)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	65,948			65,948
Distributions, declared and paid ($0.4252 per share for 2014, $1.5000 per share for 2015, and $0.6500 per share for 2016)	(211,369)				(211,369)
Foreign currency translation adjustment	631					631
Amortization of loss on termination of cash flow hedges	0
Current period adjustment to recognize changes in fair value of cash flow hedges, net of reclassification	$ 202					202
Balance (in shares) at Dec. 31, 2016	325,183	325,183
Balance at Dec. 31, 2016	$ 650,329	$ 3,252	$ 2,863,833	$ (298,288)	$ (1,910,445)	$ (8,023)

CONSOLIDATED STATEMENTS OF STO8

CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY (Parenthetical) - $ / shares	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Statement of Stockholders' Equity [Abstract]
Declared and paid distributions (in dollars per share)	$ 0.65	$ 1.5	$ 0.4252

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Operating activities:
Net income (loss)	$ 65,948	$ 129,893	$ (92,144)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Depreciation and amortization	66,792	83,481	135,373
Amortization of loan costs and lease costs (including above- and below-market leases)	1,133	3,846	12,310
Accretion and amortization of fair value measures	19	(89)	305
Gain on sale of properties and disposal of fixed assets	(8,445)	(246,837)	(4,073)
Gain from acquisition of unconsolidated entity	(30,025)	0	0
Gain on sale of unconsolidated entities	0	(39,252)	0
Loss on extinguishment of debt	333	23,107	6,209
Amortization of terminated hedge	0	180	3,486
Swap termination fees	0	(184)	(1,904)
Loss on lease termination	0	0	8,174
Gain from insurance proceeds	(1,118)	(2,914)	(4,916)
Impairment provision	8,142	132,622	68,295
Loan loss provision	0	9,319	3,270
Bad debt expense	1,854	10,298	2,309
Prepayment penalties on loans	(235)	(1,277)	(7,047)
Premium paid on senior notes	0	(11,537)	(2,500)
Equity in earnings net of distributions from unconsolidated entities	(216)	6,934	5,744
Changes in assets and liabilities:
Other assets	1,490	(146)	467
Deferred rent and lease incentives	1,010	(4,214)	(982)
Accounts and other receivables	(6,420)	499	(7,401)
Accounts payable, accrued expenses and other liabilities	(8,943)	(41,852)	3,017
Income tax liabilities	(1,354)	9,778	0
Due to affiliates	64	988	(1,058)
Net cash provided by operating activities	90,029	62,643	126,934
Investing activities:
Proceeds from sale of real estate	148,319	992,738	384,293
Acquisition of properties	0	0	(128,390)
Capital expenditures	(27,074)	(49,272)	(79,115)
Contributions to unconsolidated entities	(5,839)	(54,572)	0
Proceeds from sale of unconsolidated entities	0	139,501	0
Cash assumed through purchase of controlling interest of investment in unconsolidated entity	11,861	0	0
Proceeds from insurance	1,734	4,674	10,187
Proceeds from short-term investment	0	0	1,169
Principal payments received on mortgage loans receivable	0	9,828	83,468
Changes in restricted cash	7,440	14,317	1,394
Other	0	0	980
Net cash provided by investing activities	136,441	1,057,214	273,986
Financing activities:
Redemptions of common stock	0	(6)	(9,609)
Distributions to stockholders (net of reinvestments during 2014)	(211,369)	(487,774)	(110,671)
Borrowings under line of credit	0	0	232,500
Proceeds from mortgages and other notes payable	0	0	57,790
Principal payments on line of credit	0	(152,500)	(130,000)
Principal payments on mortgages, notes payable and senior notes	(39,206)	(529,893)	(365,224)
Principal payments on capital leases	(2,557)	(2,834)	(4,863)
Payments of entrance fee refunds	0	0	(1,845)
Payment of loan costs	0	(239)	(3,536)
Net cash used in financing activities	(253,132)	(1,173,246)	(335,458)
Effect of exchange rate fluctuations on cash	(66)	(52)	(51)
Net increase (decrease) in cash	(26,728)	(53,441)	65,411
Cash at beginning of period	83,544	136,985	71,574
Cash at end of period	56,816	83,544	136,985
Supplemental disclosure of cash flow information:
Cash paid during the period for interest	10,428	35,030	68,536
Supplemental disclosure of non-cash investing activities:
Net increase in real estate and other working capital due to consolidation of unconsolidated entity	18,164	0	0
Assumption of debts	0	0	27,398
Assumption of capital leases	1,650	2,761	4,004
Change in accounts payable related to capital expenditures	2,831	5,898	4,192
Property assumed in connection with foreclosure	0	0	8,729
Supplemental disclosure of non-cash financing activities:
Assumption of mortgage loans by third party	$ 0	$ 151,478	$ 0

Business and Organization

Business and Organization	12 Months Ended
	Dec. 31, 2016
Accounting Policies [Abstract]
Business and Organization	Business and Organization CNL Lifestyle Properties, Inc. (the “Company”), was organized in Maryland on August 11, 2003. The Company believes it has operated and has elected to be taxed as a real estate investment trust (a “REIT”) for federal income tax. In November 2016, the Company determined it needed to accrue a provision for income tax in connection with retaining its REIT status, as described further in Note 2, "Significant Accounting Policies." The Company generally invested in lifestyle properties in the United States that were primarily leased on a long-term (generally five to 20 years, plus multiple renewal options), triple-net or gross basis to tenants or operators that the Company considered to be industry leading. As a result of tenant defaults, the Company engaged third-party managers to operate properties on its behalf until the point in time that the properties are re-leased. The Company engaged CNL Lifestyle Advisor Corporation (the “Advisor”) as its advisor to provide management, disposition, advisory and administrative services. In March 2014, the Company engaged Jefferies LLC (“Jefferies”), a leading global investment banking and advisory firm, to assist the Company’s management and its board of directors in actively evaluating various strategic alternatives to provide liquidity to the Company’s stockholders. In connection with this process, between 2014 and 2016, the Company sold 118 properties and used the net sales proceeds from the sale of these properties to repay indebtedness and also provided stockholders with partial liquidity when it made special distributions to stockholders during 2015 and 2016. As of December 31, 2016 , the Company owned 36 lifestyle properties within the following asset classes: ski and mountain lifestyle and attractions. In November 2016, the Company entered into a purchase and sale agreement for the sale of its remaining 36 properties (the "Sale Agreement") for approximately $830.0 million . In connection with the transaction contemplated by the Sale Agreement, in November 2016, the board of directors approved a plan of liquidation and dissolution ("Plan of Dissolution"). In January 2017, the Company mailed a proxy statement to its stockholders requesting approval of, and at the March 24, 2017 stockholders’ meeting, the stockholders approved the sale of the Company’s remaining 36 properties pursuant to the Sale Agreement. The stockholders also approved the Plan of Dissolution, including the complete liquidation and dissolution of the Company following the closing of the sale of its remaining assets. Refer to Note 17, "Subsequent Events" for additional information.

Significant Accounting Policies

Significant Accounting Policies	12 Months Ended
	Dec. 31, 2016
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	Summary of Significant Accounting Policies Principles of Consolidation and Basis of Presentation — The accompanying consolidated financial statements include the Company’s accounts, the accounts of wholly owned subsidiaries or subsidiaries for which the Company has a controlling interest, the accounts of variable interest entities (“VIEs”) in which the Company is the primary beneficiary, and the accounts of other subsidiaries over which the Company has a controlling financial interest. All material intercompany accounts and transactions have been eliminated in consolidation. In accordance with the guidance for the consolidation of VIEs, the Company is required to identify entities for which control is achieved through means other than voting rights and to determine the primary beneficiary of its VIEs. The Company quantitatively assesses whether it is the primary beneficiary of a VIE and considers various qualitative factors including, but not limited to, the design of the entity, its organizational structure including decision-making ability and financial agreements, its ability and the rights of others to participate in policy making decisions, as well as the Company's ability to liquidate the entity. If an entity is determined to be a VIE and the Company is determined to be the primary beneficiary, the Company includes the accounts of the VIE in its consolidated financial statements. Allocation of Purchase Price for Real Estate Acquisitions — Upon the acquisition of real estate properties, the Company records the fair value of the tangible assets (consisting of land, buildings, improvements and equipment), intangible assets (consisting of in-place leases and above or below market lease values), assumed liabilities and any contingent liabilities at fair value. Fair value is defined as the exchange price that would be received for an asset or paid to transfer a liability in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. Fair value is determined based on incorporating market participant assumptions, discounted cash flow models using appropriate capitalization rates, and the Company’s estimates reflecting the facts and circumstances of each acquisition. Acquisition fees and costs are expensed for acquisitions that are considered a business combination. The fair value of the tangible assets of an acquired leased property is determined by various factors including the comparable land sale method and cost approach method which estimates the replacement cost new less depreciation and a go dark income approach on the building in which the building is assumed to be vacant. 2. Summary of Significant Accounting Policies (continued) The purchase price is allocated to in-place lease intangibles based on management’s evaluation of the specific characteristics of the acquired lease. Factors considered include estimates of carrying costs during hypothetical expected lease up periods, including estimates of lost rental income during the expected lease up periods, and costs to execute similar leases such as leasing commissions, legal and other related expenses. The Company may also enter into yield guarantees in connection with an acquisition, whereby the seller agrees to hold a portion of the purchase price in escrow that may be repaid to the Company in the event certain thresholds are not met. In calculating the estimated fair value of the yield guarantee, the Company considers information obtained about each property during the due diligence and budget process as well as discount rates to determine the fair value. The Company periodically evaluates the fair value of the yield guarantee and records any adjustments to the fair value as a component of other income (expense) in the accompanying consolidated statements of operations. Depreciation and Amortization — Real estate costs related to the acquisition and improvement of properties are capitalized. Repair and maintenance costs are charged to expense as incurred and significant replacements and betterments are capitalized. Repair and maintenance costs include all costs that do not extend the useful life of the real estate asset. The Company considers the period of future benefit of an asset to determine its appropriate useful life. Real estate assets are stated at cost less accumulated depreciation, which is computed using the straight-line method of accounting over the estimated useful lives of the related assets. Buildings and improvements are depreciated over the lesser of 39 years or the remaining life of the ground lease including renewal options and leasehold and permit interests. Amortization of intangible assets is computed using the straight-line method of accounting over the respective lease term or estimated useful life. The capitalized above-market or below-market lease intangible is amortized to rental income over the estimated remaining term of the respective leases. If a lease were to be terminated prior to its scheduled expiration, all unamortized costs related to the lease would be written off. Intangible assets with indefinite lives are not amortized, and like all intangibles, are evaluated for impairment on an annual basis or upon a trigger event. Investment in Unconsolidated Entities — The Company accounted for its investments in unconsolidated joint ventures under the equity method of accounting as the Company exercised significant influence, but did not maintain a controlling financial interest over these entities. These investments were recorded initially at cost and subsequently adjusted for cash contributions, distributions and equity in earnings (loss) of the unconsolidated entities. Based on the respective venture structures and preferences the Company received on distributions and liquidation, the Company recorded its equity in earnings of the entities under the hypothetical liquidation at book value (“HLBV”) method of accounting. Under this method, the Company recognized income or loss in each period as if the net book value of the assets in the ventures were hypothetically liquidated at the end of each reporting period following the provisions of the joint venture agreements. In any given period, the Company may have recorded more or less income than actual cash distributions received and more or less than what the Company may have received in the event of an actual liquidation. The Company’s investment in unconsolidated entities was accounted for as an asset acquisition in which acquisition fees and expenses were capitalized as part of the basis in the investment in unconsolidated entities. The acquisition fees and expenses created an outside basis difference that were allocated to the assets of the investee and, if assigned to depreciable or amortizable assets, the basis differences were then amortized as a component of equity in earnings (loss) of unconsolidated entities. Acquisition Fees and Expenses — The Company incurred acquisition fees and expenses in connection with the selection and acquisition of properties, including expenses on properties it determined not to acquire. The Company immediately expensed all acquisition costs and fees associated with transactions deemed to be business combinations, but capitalized these costs for transactions deemed to be acquisitions of an asset or equity method investment. Impairment of Real Estate Assets — Real estate assets are reviewed on an ongoing basis to determine whether there are any indicators, including property operating performance, general market conditions and significant changes in the manner of use or estimated holding period of the Company’s real estate assets or the strategy of its overall business, that the value of the real estate properties (including any related amortizable intangible assets or liabilities) may be impaired. To assess if a property value is potentially impaired, management compares the estimated current and projected undiscounted operating cash flows of the property over its remaining useful life (or holding period) plus an estimate of residual value (collectively, the “Estimated Cash Flows”), to the net carrying value of the property. Such cash flow projections consider factors such as estimated lease payments under the Company’s triple net leases, estimated future operating income on managed properties, trends and prospects, as well as the effects of demand, competition and other factors. In the event that the carrying value exceeds the Estimated Cash Flows, the Company would then determine fair value using discounted Estimated Cash Flows (or estimated sales proceeds less costs to sell) to determine fair value. In the event the carrying value exceeds the discounted Estimated Cash Flows (or estimated sales proceeds less costs to sell), the Company would record an impairment provision to adjust the carrying value of the asset group to the estimated fair value of the property. 2. Summary of Significant Accounting Policies (continued) For real estate the Company indirectly owned through an investment in a joint venture, tenant-in-common interest or other similar investment structure which was accounted for under the equity method, when impairment indicators were present, the Company compared the estimated fair value of its investment to the carrying value. An impairment charge was recorded to the extent the fair value of its investment was less than the carrying amount and the decline in value was determined to be other than a temporary decline. The estimated fair values of unconsolidated entities were based upon a discounted cash flow model that included all estimated cash inflows and outflows over the expected holding period. The capitalization rates and discounted rates utilized in the model were based upon rates that the Company believed to be within a reasonable range of current market rates for the underlying properties. Bargain Purchase Gain — A bargain purchase gain is recorded as a gain in earnings in the period of acquisition when the fair value of assets acquired net of liabilities assumed is greater than the consideration transferred. Assets Held for Sale, net and Discontinued Operations — Assets that are classified as held for sale are recorded at the lower of their carrying value or fair value less costs to dispose. The Company classifies assets as held for sale once management has the authority to approve and commits to a plan to sell, the assets are available for immediate sale, an active program to locate a buyer and the sale of the assets are probable and transfer of the assets are expected to occur within one year. The Company's remaining properties as of December 31, 2016 require the approval of the proposed Sale Agreement by stockholders in order to be sold. Subsequent to classification of an asset as held for sale, no further depreciation or amortization relating to the asset are recorded. The Company presents the assets of any properties which have been sold, or otherwise qualify as held for sale, separately in the consolidated balance sheet. The Company classifies assets held for sale as discontinued operations if the disposal has (or will have) a major effect on the Company’s operations and financial results. For those assets held for sale that qualify for classification as discontinued operations, the specific components of net income (loss) are presented as discontinued operations include operating income (loss) and interest expense directly attributable to the property held for sale, net. In addition, the net gain or loss (including any impairment loss) on the eventual disposal of assets held for sale that qualify as discontinued operations are presented as discontinued operations when recognized. Real Estate Dispositions — When real estate is disposed of, the related cost, accumulated depreciation or amortization and any accrued rental income for operating leases are removed from the accounts and gains and losses from the disposition are reflected in the consolidated statements of operations. Gains from the disposition of real estate are generally recognized using the full accrual method in accordance with the Financial Accounting Standards Board (“FASB”) guidance included in Real Estate Sales , provided that various criteria relating to the terms of sale and subsequent involvement by the Company with the properties are met. Gains may be deferred in whole or in part until the sales satisfy the requirements of gain recognition on sale of real estate. Cash — Cash consists of demand deposits at commercial banks. The Company also invests in cash equivalents consisting of highly liquid investments in money market funds with original maturities of three months or less during the year. As of December 31, 2016 , cash deposits exceeded federally insured amounts. However, the Company has not experienced any losses on such accounts. Management continues to monitor third-party depository institutions that hold the Company’s cash, primarily with the goal of safety of principal and secondarily on maximizing yield on those funds. To that end, the Company has diversified its cash among several banking institutions in an attempt to minimize exposure to any one of these entities. Management has attempted to select institutions that it believes are strong based on an evaluation of their financial stability and exposure to poor performing assets. Restricted Cash — Certain amounts of cash are restricted to fund capital expenditures for the Company’s real estate investment properties or represent certain tenant security deposits. Derivative Instruments and Hedging Activities — The Company utilizes derivative instruments to partially offset the effect of fluctuating interest rates on the cash flows associated with its variable-rate debt. The Company follows established risk management policies and procedures in its use of derivatives and does not enter into or hold derivatives for trading or speculative purposes. The Company records all derivative instruments on the balance sheet at fair value. On the date the Company enters into a derivative contract, the derivative is designated as a hedge of the exposure to variable cash flows of a forecasted transaction. The effective portion of the derivative’s gain or loss is initially reported as a component of other comprehensive income (loss) and subsequently recognized in the statement of operations in the periods in which earnings are impacted by the variability of the cash flows of the hedged item. Any ineffective portion of the gain or loss is reflected in interest expense in the statement of operations. The Company made an accounting policy election to use the exception in ASU 820-10-35-18D with respect to measuring fair value of a group of financial assets and financial 2. Summary of Significant Accounting Policies (continued) liabilities entered into with a particular counterparty, where the Company reports the net exposure to the credit risk of that counterparty. Fair Value of Financial Instruments — The estimated fair value of cash, accounts receivable, accounts payable and accrued expenses approximates carrying value as of December 31, 2016 and 2015 , because of the liquid nature of the assets and relatively short maturities of the obligations. See Footnote 8. “Indebtedness” for the Company’s estimates of the fair value of its indebtedness as of December 31, 2016 and 2015 . Fair Value Measurements — Fair value assumptions are based on the framework established in the fair value accounting guidance under GAAP. The framework specifies a hierarchy of valuation inputs which was established to increase consistency, clarity and comparability in fair value measurements and related disclosures. The guidance describes a fair value hierarchy based upon three levels of inputs that may be used to measure fair value, two of which are considered observable and one that is considered unobservable. The following describes the three levels of fair value inputs: • Level 1 — Quoted prices (unadjusted) in active markets for identical assets or liabilities that the Company has the ability to access. • Level 2 — Inputs, other than quoted prices included in Level 1, that are observable for the asset or liability either directly or indirectly; such as, quoted prices for similar assets or liabilities or other inputs that can be corroborated by observable market data. • Level 3 — Unobservable inputs for the asset or liability, which are typically based on the Company’s own assumptions, as there is little, if any, related market activity. When market data inputs are unobservable, the Company utilizes inputs that it believes reflects the Company’s best estimate of the assumptions market participants would use in pricing the asset or liability. When inputs used to measure fair value fall within different levels of the hierarchy, the level within which the fair value measurement is categorized is based on the lowest level input that is significant to the fair value measurement. Deferred Financing Costs — Financing costs paid in connection with obtaining long-term debt are deferred and amortized over the life of the debt using the effective interest method. As of December 31, 2016 and 2015 , the accumulated amortization of loan costs was approximately $5.1 million and $6.9 million , respectively. Foreign Currency Translation — The accounting records for the Company’s one consolidated foreign location, in Vancouver, British Columbia, are maintained in the local currency and revenues and expenses are translated using the average exchange rates during the period. Assets and liabilities are translated to U.S. dollars using the exchange rate in effect at the balance sheet date. The resulting translation adjustments are reflected in stockholders’ equity as a cumulative foreign currency translation adjustment, a component of accumulated other comprehensive income (loss). Gains and losses from foreign currency transactions are included in the accompanying consolidated statements of operations. Revenue Recognition — For properties subject to operating leases, rental revenue is recorded on a straight-line basis over the terms of the leases. Additional percentage rent that is due contingent upon tenant performance thresholds, such as gross revenues, is deferred until the underlying performance thresholds have been achieved. Property operating revenues from managed properties, which are not subject to leasing arrangements, are derived from room rentals, food and beverage sales, ski and spa operations, golf operations, membership dues, ticket sales, concessions, waterpark and theme park operations, resident rental fees, assistance services, and other service revenues. Such revenues, excluding membership dues, are recognized when rooms are occupied, when services have been performed, and when products are delivered. Membership dues are recognized ratably over the term of the membership period. For mortgages and other notes receivable, interest income is recognized on an accrual basis when earned, except for loans placed on non-accrual status, for which interest income is recognized when received. Any deferred portion of contractual interest is recognized on a straight-line basis over the term of the corresponding note. Loan origination fees charged and acquisition fees incurred in connection with the making of loans are recognized as interest income, and a reduction in interest income, respectively over the term of the notes. Capital Improvement Reserve Income — The Company’s leases require the tenants to pay certain contractual amounts that are set aside by the Company for replacements of fixed assets and other improvements to the properties. These amounts are and will remain the property of the Company during and after the term of the lease. The amounts are recorded as capital improvement reserve income at the time that they are earned and are included in rental income from operating leases in the accompanying consolidated statements of operations. 2. Summary of Significant Accounting Policies (continued) Mortgages and Other Notes Payable — Mortgages and other notes payable are recorded at the stated principal amount and are generally collateralized by the Company’s properties with monthly interest only and/or principal payments. Self Insurance Reserves — The Company has self-insured retention amounts for certain properties. Accordingly, the Company has established a liability for both known claims and claims that are incurred but not reported ("IBNR"). IBNR reserves are recorded as a component of Other liabilities in the accompanying consolidated balance sheets. Income Taxes — The Company has elected to be taxed as a REIT under Sections 856 through 860 of the Internal Revenue Code of 1986, as amended and related regulations beginning with the year ended December 31, 2004. As a REIT, the Company generally is not subject to federal corporate income taxes provided it distributes at least 100% of its REIT taxable income and capital gains and meets certain other requirements for qualifying as a REIT. Subject to compliance with applicable tax law, certain properties may be operated using an eligible third-party manager. In those cases, taxable income from those operations may be subject to federal income tax. After taking into consideration the savings clause described below in "Revision of Previously Issued Financial Statements," management believes that the Company was organized and operated in a manner that enabled the Company to continue to qualify for treatment as a REIT for federal income tax purposes for the years ended December 31, 2016 , 2015 and 2014 . Under the provisions of the Internal Revenue Code and applicable state laws, each TRS entity of the Company is subject to taxation of income on the profits and losses from its operations. The Company accounts for federal and state income taxes with respect to its TRS entities using the asset and liability method. Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the consolidated financial statement carrying amounts of existing assets and liabilities and respective tax bases and operating losses and tax-credit carry forwards. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date. Valuation allowances are established when necessary to reduce deferred tax assets to the amount expected to be realized. Earnings (loss) Per Share — Earnings (loss) per share is calculated based upon the weighted-average number of shares of common stock outstanding during the period. Use of Estimates — The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities as of the date of the financial statements, the reported amounts of revenues and expenses during the reporting periods and the disclosure of contingent liabilities. For example, significant estimates and assumptions are made in connection with the allocation of purchase price and the analysis of real estate, equity method investments and for impairments. Actual results could differ from those estimates. Segment Information — Operating segments are components of an enterprise for which separate financial information is available and is evaluated regularly by the chief operating decision maker in deciding how to allocate resources and assess performance. The Company’s chief operating decision maker currently evaluates the Company’s operations from a number of different operational perspectives including but not limited to a property-by-property basis and by tenant and operator. The Company derives all significant revenues from a single reportable operating segment of business, lifestyle real estate regardless of the type (ski, attractions, etc.) or ownership structure (leased or managed). Reclassifications — Certain prior period amounts in the consolidated financial statements have been reclassified to conform to the current period presentation with no effect on previously reported total assets and total liabilities, net loss or stockholders’ equity. Revision of Previously Issued Financial Statements - During the fourth quarter of 2016, the Company determined that five tenants from whom it received leasehold income are viewed for federal income tax purposes as the same party who also serves as an eligible third-party manager, also known as an “independent contractor” (within the meaning of section 856(d)(3) of the Code) on behalf of the Company with respect to two properties for which the Company previously made an election pursuant to applicable Treasury Regulations to treat such properties as “foreclosure property.” Because of the relationship between the tenant entities and the independent contractor entities, the Company is viewed as deriving or receiving income from the independent contractor, it affects the Company's compliance with the federal income tax rules applicable to REITs. The “foreclosure property” elections terminated and, as of the first day following such terminations, the gross income the Company derived from such properties was not qualifying income under the gross income tests that are applicable to REITs. In order to maintain qualification as a REIT, the Company annually must satisfy certain tests regarding the source of its gross income. The applicable federal income tax rules provide a “savings clause” for REITs that fail to satisfy the REIT gross income tests if such failure is due to reasonable cause and 2. Summary of Significant Accounting Policies (continued) not due to willful neglect and the REIT complies with certain disclosure and filing requirements. A REIT that qualifies for the savings clause will retain its REIT status but may be required to pay a tax under section 857(b)(5) of the Code and related interest. As a result of not being able to satisfy the gross income test described above throughout 2015, the Company's previously issued financial statements did not appropriately reflect tax expense associated with unqualified gross income in the periods in which such income was earned. The impact of this misstatement was approximately $0.7 million for the three months ended June 30, 2015, an additional $8.4 million for the three months ended September 30, 2015, and an additional $0.7 million for the three months ended December 31, 2015. There was no impact to the three months ended March 31, 2015 related to this misstatement due to the timing of the period in which the income was earned. Additionally, the Company has self-insured retention amounts for certain properties. Accordingly, under GAAP, the Company should establish a liability for both known claims and claims that are incurred but not reported ("IBNR"). The Company determined that the methodology utilized to establish its IBNR did not appropriately consider all costs to settle its claims related to IBNR claims. The impact of this misstatement was approximately $0.7 million for the quarter ended March 31, 2015 and approximately $0.3 million for each of the quarters ended June 30, 2015, September 30, 2015 and December 31, 2015. Management evaluated the impact of the above misstatements on all previously issued financial statements and concluded that the previously issued financial statements were not materially misstated. However, the impact of recording the misstatements in the period in which they were identified would have been material to the quarter ended September 30, 2016 and the estimated results for the year ended December 31, 2016. Accordingly, the Company has revised its consolidated financial statements as of and for the year ended December 31, 2015, for the interim periods of 2015 for the quarter ended March 31, 2015, for the quarter and six months ended June 30, 2015, and for the quarter and nine months ended September 30, 2015 presented in this Report on Form 10-K. The following changes have been made to the Company's previously issued consolidated balance sheet, statements of operations and statements of comprehensive income (in thousands, except per share amounts). No changes were made to the consolidated statement of cash flows. December 31, 2015 As Reported Adjustment As Revised Accounts payable and accrued expenses $ 11,361 $ 1,484 $ 12,845 Income tax liabilities — 9,778 9,778 Total Liabilities 223,282 11,262 234,544 Accumulated deficit (352,974 ) (11,262 ) (364,236 ) Total Stockholders' Equity 806,179 (11,262 ) 794,917 The following changes have been made to the Company's unaudited condensed consolidated statements of operations (in thousands, except per share amounts): Quarter Ended March 31, 2015 As Reported Adjustment As Revised Expenses Property operating expenses $ 37,038 $ 660 $ 37,698 Loss from continuing operations (14,607 ) (660 ) (15,267 ) Net loss $ (7,555 ) $ (660 ) $ (8,215 ) Net loss per share of common stock (basic and diluted): Continuing operations $ (0.04 ) $ (0.01 ) $ (0.05 ) Net income per share $ (0.02 ) $ (0.01 ) $ (0.03 ) 2. Summary of Significant Accounting Policies (continued) Quarter Ended June 30, 2015 Six Months Ended June 30, 2015 As Reported Adjustment As Revised As Reported Adjustment As Revised Expenses Property operating expenses $ 52,021 $ 275 $ 52,296 $ 89,059 $ 935 $ 89,994 Other income (expense) Income tax provision — (666 ) (666 ) — (666 ) (666 ) Loss from continuing operations (38,208 ) (941 ) (39,149 ) (52,815 ) (1,601 ) (54,416 ) Net income before gain on sale of real estate and unconsolidated entity 161,512 (941 ) 160,571 153,957 (1,601 ) 152,356 Net income $ 228,101 $ (941 ) $ 227,160 $ 220,546 $ (1,601 ) $ 218,945 Net income per share of common stock (basic and diluted): Continuing operations $ 0.09 $ — $ 0.09 $ 0.04 $ (0.01 ) $ 0.03 Net income per share $ 0.70 $ — $ 0.70 $ 0.68 $ (0.01 ) $ 0.67 Quarter Ended September 30, 2015 Nine Months Ended September 30, 2015 As Reported Adjustment As Revised As Reported Adjustment As Revised Expenses Property operating expenses $ 56,256 $ 275 $ 56,531 $ 145,315 $ 1,210 $ 146,525 Other income (expense) Income tax provision — (8,449 ) (8,449 ) — (9,115 ) (9,115 ) Income (loss) from continuing operations 34,295 (8,724 ) 25,571 (18,775 ) (10,325 ) (29,100 ) Net income before gain on sale of real estate and unconsolidated entity 41,909 (8,724 ) 33,185 195,611 (10,325 ) 185,286 Net income $ 40,845 $ (8,724 ) $ 32,121 $ 261,391 $ (10,325 ) $ 251,066 Net income per share of common stock (basic and diluted): Continuing operations $ 0.11 $ (0.03 ) $ 0.08 $ 0.14 $ (0.03 ) $ 0.11 Net income per share $ 0.13 $ (0.03 ) $ 0.10 $ 0.80 $ (0.03 ) $ 0.77 2. Summary of Significant Accounting Policies (continued) Quarter Ended December 31, 2015 Year Ended December 31, 2015 As Reported Adjustment As Revised As Reported Adjustment As Revised Expenses Property operating expenses $ 27,312 $ 274 $ 27,586 $ 172,627 $ 1,484 $ 174,111 Other income (expense) Income tax provision — (663 ) (663 ) — (9,778 ) (9,778 ) Loss from continuing operations (130,842 ) (937 ) (131,779 ) (149,362 ) (11,262 ) (160,624 ) Net (loss) income before gain on sale of real estate and unconsolidated entity (140,302 ) (937 ) (141,239 ) 55,309 (11,262 ) 44,047 Net (loss) income $ (120,236 ) $ (937 ) $ (121,173 ) $ 141,155 $ (11,262 ) $ 129,893 Net (loss) income per share of common stock (basic and diluted): Continuing operations $ (0.34 ) $ — $ (0.34 ) $ (0.20 ) $ (0.03 ) $ (0.23 ) Net income per share $ (0.37 ) $ — $ (0.37 ) $ 0.43 $ (0.03 ) $ 0.40 The following changes have been made to the Company's unaudited condensed consolidated statements of comprehensive income (in thousands): Quarter Ended March 31, 2015 As Reported Adjustment As Revised Net loss $ (7,555 ) $ (660 ) $ (8,215 ) Net comprehensive income (2,448 ) (660 ) (3,108 ) Quarter Ended June 30, 2015 Six Months Ended June 30, 2015 As Reported Adjustment As Revised As Reported Adjustment As Revised Net income $ 228,101 $ (941 ) $ 227,160 $ 220,546 $ (1,601 ) $ 218,945 Net comprehensive income 229,051 (941 ) 228,110 219,048 (1,601 ) 217,447 Quarter Ended September 30, 2015 Nine Months Ended September 30, 2015 As Reported Adjustment As Revised As Reported Adjustment As Revised Net income $ 40,845 $ (8,724 ) $ 32,121 $ 261,391 $ (10,325 ) $ 251,066 Net comprehensive income 38,538 (8,724 ) 29,814 257,586 (10,325 ) 247,261

Real Estate Investment Properti

Real Estate Investment Properties, net	12 Months Ended
	Dec. 31, 2016
Banking and Thrift [Abstract]
Real Estate Investment Properties, net	Real Estate Investment Properties, net: As of December 31, 2016 and 2015 , real estate investment properties consisted of the following (in thousands): 2016 2015 Land and land improvements $ 377,684 $ 369,902 Leasehold interests and improvements 170,962 170,970 Building and building improvements 249,824 245,372 Equipment 522,194 506,935 Less: accumulated depreciation and amortization (642,623 ) (580,590 ) Total $ 678,041 $ 712,589 For the years ended December 31, 2016 , 2015 and 2014 , the Company had depreciation and amortization expenses of approximately $66.2 million , $82.8 million and $98.0 million , respectively, excluding properties that the Company classified as discontinued operations. The Company evaluates its properties on an ongoing basis, including any changes to intended use of the properties, operating performance of its properties or plans to dispose of assets to determine if the carrying value is recoverable. As described above in Note 1. “Organization and Nature of Business,” management and its board of directors have been actively evaluating various strategic alternatives to provide liquidity to the Company’s stockholders. As part of this process, management reviewed the operating performance for each property, developed projected cash flows and revised its cash flow assumptions to include projected capital improvement costs to remain competitive, and to retain and enhance visitations and attendance at our ski and attractions properties. The Company evaluated these revised cash flow projections and reviewed materials provided by its global investment banking and advisory firm, including revised market assumptions and other indications of value received in connection with the Company’s strategic alternatives process from several potential buyers, to determine whether it was likely that their carrying value would be recoverable. During the year ended December 31, 2015 , the revised cash flows also reflected the proposed restructure of our leases with one tenant on three attractions properties. As a result of this analysis and in consideration of the potential for disposal of the properties in the near term, the Company recorded impairment provisions of approximately $123.1 million related primarily to several attractions properties to write down their book values to estimated fair values based on discounted cash flows and residual values. In November 2016, the Company entered into a purchase and sale agreement for the sale of its remaining 36 properties. The Company determined that the book value of certain of its ski and mountain lifestyle properties exceeded the estimated sales price less estimated costs to sell and as a result recorded an impairment provision of approximately $ 8.1 million during the year ended December 31, 2016 . The Company did no t record an impairment provision related to real estate investment properties excluding assets held for sale during the year ended December 31, 2014 .

Assets Held for Sale, Net and D

Assets Held for Sale, Net and Discontinued Operations	12 Months Ended
	Dec. 31, 2016
Discontinued Operations and Disposal Groups [Abstract]
Assets Held for Sale, Net and Discontinued Operations	Assets Held for Sale, Net and Discontinued Operations: Assets Held for Sale, net — The Company did not have any properties classified as held for sale as of December 31, 2016 as the sale of the remaining properties requires the approval of the Sale Agreement by stockholders. However, as of December 31, 2015 the Company had six properties classified as assets held for sale (all of which were sold in 2016). The following table presents the net carrying value of the properties classified as held for sale (in thousands) as of December 31: 2015 Land and land improvements $ 5,673 Leasehold interests and improvements 27,184 Building and building improvements 6,352 Equipment, net 1,378 Other assets 25 Restricted cash 1,408 Accounts and other receivables 699 Total $ 42,719 4. Assets Held for Sale, Net and Discontinued Operations (continued) : Effective January 1, 2015, the Company adopted ASU 2014-08, "Presentation of Financial Statements (Topic 205) and Property, Plant, and Equipment (Topic 360)" which impacted the Company's determination of which property disposals qualify as discontinued operations, as well as required disclosures about discontinued operations. During the year ended December 31, 2016 , the Company sold its remaining five marina properties and its unimproved land. The Company received aggregate sales proceeds net of closing costs for the sale of these properties of approximately $50.4 million , which resulted in aggregate gains of approximately $10.6 million for financial reporting purposes, of which approximately $0.9 million and $9.7 million was recorded in continuing operations and discontinued operations, respectively. No disposition fee was payable to the Advisor on the sale of the five marina properties or the unimproved land. On April 1, 2016, as described in Note 7, "Variable Interests and Unconsolidated Entities," the Company acquired the remaining 20% interest in the Intrawest Venture, from its co-venture partner, resulting in a combined 100% controlling interest in the Intrawest Venture entities that owned seven ski and mountain lifestyle properties. In addition, upon acquisition the Company agreed to sell these seven properties to a third party buyer and in October 2016, the Company sold the seven properties. The net sales proceeds, after the payment of closing costs, for these properties was approximately $97.9 million , which resulted in an aggregate loss on sale of real estate from continuing operations of approximately $0.8 million for financial reporting purposes. No disposition fee was payable to the Advisor on the sale of these seven properties. During the year ended December 31, 2015 , the Company sold 55 properties, including 38 senior housing properties, 12 of its 17 marinas properties, four attractions properties and one ski and mountain lifestyle property. No disposition fee was payable to the Advisor on the sale of these properties. The third party buyer of the properties assumed approximately $151.5 million of outstanding principal indebtedness collateralized by the senior housing properties that were sold. In connection with these transactions, the Company received aggregate net sales proceeds of approximately $992.7 million and recorded net gains of approximately $246.8 million for financial reporting purposes. Of the net gains recorded, approximately $46.6 million related to the sale of four attractions properties and one ski and mountain lifestyle property were recorded as gain on sale of real estate from continuing operations, and $200.2 million related to the sale of the 38 senior housing properties and 12 marinas were recorded in income (loss) from discontinued operations. The Company accounted for the revenues and expenses related to seven ski and mountain lifestyle properties and one unimproved land property sold in 2016 , and five of the 55 properties described above sold in 2015 , including net gains of approximately $0.1 million and $46.6 million for the sale of real estate, during the years ended December 31, 2016 and 2015 , respectively, as income from continuing operations because the sale of these properties did not cause a strategic shift in the Company and they did not have a major impact on the Company’s business. Therefore, they did not qualify as discontinued operations under ASU 2014-08, which the Company adopted on January 1, 2015. However, the disposition of the one ski and mountain lifestyle property represented an individually significant component. The Company recorded net income (loss) from continuing operations of approximately $19.8 million (which includes approximately $13.5 million of gain on sale of real estate) and $(1.2) million for the years ended December 31, 2015 and 2014 , respectively, related to the one ski and mountain lifestyle property classified as held for sale. The Company recorded approximately $1.8 million and $30.4 million in impairment provisions during the years ended December 31, 2015 and 2014 , respectively, related to its unimproved land classified as held for sale and one attractions property, to adjust their net carrying values to revised estimated sale prices, less closing costs. Impairment provisions related to its unimproved land and one attractions property were recorded in net income (loss) from continuing operations. During the year ended December 31, 2014 , the Company sold its golf portfolio (consisting of 48 properties) and one multi-family residential property. In connection with these transactions, the Company received aggregate net sales proceeds of approximately $384.3 million and recorded a net gain of approximately $4.1 million . The Company determined that the carrying values of these properties were not recoverable based on expected sales proceeds, less costs to sell, and recorded approximately $4.5 million in impairment provisions during the year ended December 31, 2014 . During the year ended December 31, 2014 , the Company approved a plan to market and sell the Company’s marinas portfolio (consisting of 17 marinas properties) and entered into a purchase and sale agreement during the year ended December 31, 2015 for the sale of these properties. The Company determined that the carrying values of these properties were not recoverable based on expected sales proceeds, less costs to sell, and recorded approximately $7.7 million and $33.4 million in impairment provisions during the years ended December 31, 2015 and 2014 , respectively. 4. Assets Held for Sale, Net and Discontinued Operations (continued) : Discontinued Operations — The Company classified the revenues and expenses related to all real estate properties sold in 2014 , the 38 senior housing properties sold in 2015 , and 17 marinas properties sold between 2016 and 2015 , which were not accounted for under the equity method of accounting, as discontinued operations in the accompanying consolidated statements of operations. The following table is a summary of loss from discontinued operations for the years ended December 31, (in thousands): 2016 2015 2014 Revenues $ 3,838 $ 65,796 $ 178,887 Expenses (3,189 ) (49,251 ) (115,773 ) Depreciation and amortization — — (36,709 ) Impairment provision — (7,749 ) (37,867 ) Operating income (loss) 649 8,796 (11,462 ) Net gain from sale of real estate 9,687 200,243 4,144 Loss on extinguishment of debt (1) (308 ) (2,042 ) (4,818 ) Gain on insurance and retirements (412 ) 2,816 4,791 Other income (expense) (2) 75 (5,142 ) (24,361 ) Income (loss) from discontinued operations $ 9,691 $ 204,671 $ (31,706 ) FOOTNOTES : (1) During the year ended December 31, 2016 , the Company recorded loss on extinguishment of debt from the sale of its five remaining marina properties. During the year ended December 31, 2015 , the Company recorded loss on extinguishment of debt from the sale of the 38 senior housing properties. During the year ended December 31, 2014 , the Company recorded loss on extinguishment of debt from the sale of its 48 golf properties and its multi-family residential property. (2) Amounts include amortization of loss and loss on termination of cash flow hedge of approximately $3.0 million for the year ended December 31, 2014 . There was no amortization of loss and loss on termination of cash flow hedge for the years ended December 31, 2016 and 2015 .

Intangible Assets, net

Intangible Assets, net	12 Months Ended
	Dec. 31, 2016
Goodwill and Intangible Assets Disclosure [Abstract]
Intangible Assets, net	Intangible Assets, net: The gross carrying amount and accumulated amortization of the Company’s intangible assets as of December 31, 2016 and 2015 are as follows (in thousands): Intangible Assets Gross Carrying Amount Accumulated Amortization 2016 Net Book Value In place leases $ 11,224 $ (5,641 ) $ 5,583 Trade name (indefinite-lived) 10,297 — 10,297 Total $ 21,521 $ (5,641 ) $ 15,880 Intangible Assets Gross Carrying Accumulated 2015 Net Book Value In place leases $ 11,203 $ (5,013 ) $ 6,190 Trade name (indefinite-lived) 10,297 — 10,297 Total $ 21,500 $ (5,013 ) $ 16,487 Amortization expense (excluding properties classified as discontinued operations) was approximately $0.6 million , $0.7 million and $0.7 million for the years ended December 31, 2016 , 2015 and 2014 , respectively. The Company wrote off approximately $0.8 million of in-place lease intangibles for the year ended December 31, 2015 , which are included as part of impairment provisions in the accompanying consolidated statements of operations. The Company did not have any write offs of in-place lease intangibles for the years ended December 31, 2016 and 2014 . 5. Intangible Assets, net ( continued ): The estimated future amortization expense for the Company’s finite-lived intangible assets as of December 31, 2016 is as follows (in thousands): 2017 $ 623 2018 549 2019 547 2020 547 2021 547 Thereafter 2,770 Total $ 5,583

Operating Leases

Operating Leases	12 Months Ended
	Dec. 31, 2016
Leases [Abstract]
Operating Leases	Operating Leases: As of December 31, 2016 , the Company leased 24 properties under long-term, triple-net leases to third-parties. The following is a schedule of future minimum lease payments to be received under the non-cancellable operating leases with third-parties at December 31, 2016 (in thousands): 2017 $ 96,305 2018 97,129 2019 97,496 2020 97,829 2021 98,344 Thereafter 686,430 Total $ 1,173,533 Under a triple-net lease, the tenant is responsible for paying percentage rent and capital improvement reserve rent. Capital improvement reserves are generally based on a percentage of gross revenue of the property and are set aside by the Company for capital improvements including replacements, from time to time, of furniture, fixtures and equipment and totaled approximately $23.9 million , $21.9 million and $23.9 million for the years ended December 31, 2016 , 2015 and 2014 , respectively. Percentage rent is generally based on a percentage of gross revenue after it exceeds a certain threshold. Total percentage rent recorded was approximately $5.5 million , $3.3 million and $2.9 million the years ended December 31, 2016 , 2015 and 2014 , respectively. In addition, substantially all of the property expenses are required to be paid directly by the tenants, including real estate taxes which the tenants pay directly to the taxing authorities. The total annualized property taxes assessed on these properties and paid directly by tenants, were approximately $5.4 million , $6.4 million and $8.6 million for the years ended December 31, 2016 , 2015 and 2014 , respectively.

Variable Interest and Unconsoli

Variable Interest and Unconsolidated Entities	12 Months Ended
	Dec. 31, 2016
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Variable Interest and Unconsolidated Entities	Variable Interests and Unconsolidated Entities: Consolidated VIEs — As of December 31, 2016 and 2015 , the Company had three wholly-owned subsidiaries which were determined to be VIEs, as the wholly-owned subsidiaries are designed as single property entities to own and lease their respective properties to single tenant operators, which are VIEs due to future buy-out options held by the respective tenants and of which the tenants can exercise but have not elected to do so. The three buy-out options expire between 2030 and 2032 . The Company determined it is the primary beneficiary and holds a controlling financial interest in each of these entities due to the Company’s power to direct the activities that most significantly impact the economic performance of the entities, as well as its obligation to absorb the losses and its right to receive benefits from these entities that could potentially be significant to these entities. As such, the transactions and accounts of these VIEs are included in the accompanying consolidated financial statements. The aggregate carrying amount and major classifications of the consolidated assets that can be used to settle obligations of the VIEs and liabilities of the consolidated VIEs that are non-recourse to the Company are as follows (in thousands): 7. Variable Interests and Unconsolidated Entities ( continued ): December 31, 2016 2015 Assets Real estate investment properties, net $ 55,941 $ 58,832 Other assets 5,320 6,578 Liabilities Mortgages and other notes payable 18,628 19,503 Other liabilities 1,340 792 The Company’s maximum exposure to loss as a result of its involvement with these VIEs is limited to its net investment in these entities which totaled approximately $41.3 million and $45.1 million as of December 31, 2016 and 2015 , respectively. The Company’s exposure is limited because of the non-recourse nature of the borrowings of the VIEs. Unconsolidated Entities — As of December 31, 2014 , the Company held an ownership interest in the DMC Partnership of $104.4 million . The Company sold its 81.98% interest in the DMC Partnership in April 2015 and received net sales proceeds of approximately $139.5 million from its co-venture partner, which resulted in a gain of approximately $39.3 million for financial reporting purposes. No disposition fee was paid to the Advisor on the sale of the DMC Partnership. The Company accounted for its pro-rata share of the net earnings of its investment in the DMC Partnership as continuing operations because although the properties owned by the DMC Partnership were outliers compared to the other assets invested in by the Company, the sale of the Company’s interest in the DMC Partnership did not cause a strategic shift in the Company, and it was not considered to have a major impact on the Company’s business; therefore, it did not qualify as discontinued operations under ASU 2014-08. As of December 31, 2015 , the Company held an 80% ownership interest in the Intrawest Venture with a carrying value of approximately $73.4 million . The Company had classified its investment in the Intrawest Venture, an unconsolidated entity, as a VIE and concluded it was not the primary beneficiary. On April 1, 2016, the Company satisfied the terms and conditions under the buy-sell provisions of the Intrawest Venture partnership agreement, acquired its co-venture partner's 20% interest in the Intrawest Venture for a nominal amount and as part of the Company's evaluation of strategic alternatives, upon acquiring the 20% interest, the Company agreed to sell the seven ski and mountain lifestyle properties. In conjunction with the acquisition of the remaining 20% interest, in April 2016, the Company contributed $5.8 million to the Intrawest Venture and the Intrawest Venture used the proceeds and repaid a mezzanine loan from its joint venture partner and related accrued interest of $5.8 million . On April 1, 2016, the nominal consideration paid to acquire the remaining 20% interest, along with the approximate $79.5 million carrying value of the Company’s investment in the unconsolidated entity, was less than the fair value of the net assets acquired, which resulted in a gain of approximately $30.0 million in connection with this transaction. The Company determined the fair values of the real estate based on anticipated sales proceeds from the anticipated sale of the seven ski and mountain lifestyle properties, less costs to sell. The Company determined that the fair value of cash, trade receivables and trade payable (“Working Capital, net”) approximated their carrying values. The following summarizes the allocation of the estimated fair values of the assets acquired and liabilities assumed as of April 1, 2016 (in thousands): Land and land improvements $ 14,208 Buildings and building improvements 74,253 Intangibles (1) 9,449 Cash assumed 11,861 Working capital, net (267 ) Net assets upon acquisitions of 20% non-controlling interest and consolidation $ 109,504 FOOTNOTES: (1) Intangibles were comprised of approximately $13.7 million , $3.1 million and $(7.4) million of in-place lease, above-market lease and below-market lease intangible assets (liabilities), respectively. 7. Variable Interests and Unconsolidated Entities ( continued ): The following summarizes the gain that resulted from the change of control in the unconsolidated equity method investment for the year ended December 31, 2016 (in thousands): Fair value of new assets upon acquisition of 20% non-controlling interest and consolidation $ 109,504 Less: Investment in unconsolidated entity (79,479 ) Gain on purchase of controlling interest of investment in unconsolidated entity $ 30,025 In October 2016, the Company completed the sale of these seven properties and recognized a loss on sale of real estate of approximately $0.8 million . The revenues and net income attributable to the Company's acquisition of the Intrawest Venture from April 2016 through October 2016, were approximately $9.4 million and $3.7 million (which includes $0.8 million loss on sale of real estate), respectively, for the year ended December 31, 2016 . There were no acquisitions of unconsolidated entities in 2015 and 2014 . The following tables present financial information for the Company’s unconsolidated entities for the years ended December 31, 2016 , 2015 and 2014 (in thousands): Summarized operating data: Year Ended December 31, 2016 Intrawest Venture (1) Revenues $ 4,743 Property operating expenses (2,683 ) Depreciation and amortization (784 ) Interest expense and other income (expense) (379 ) Net income $ 897 Loss allocable to other venture partners (3) $ (410 ) (4) Income allocable to the Company (3) $ 1,307 Amortization of capitalized costs (17 ) Equity in earnings on unconsolidated entities $ 1,290 Distribution declared to the Company $ 1,423 Distributions received by the Company $ 1,074 Year Ended December 31, 2015 DMC Partnership (2) Intrawest Venture Total Revenues $ 10,743 $ 18,778 $ 29,521 Property operating expenses (173 ) (11,114 ) (11,287 ) Depreciation and amortization (3,038 ) (4,160 ) (7,198 ) Interest expense and other income (expense) (1,555 ) (1,328 ) (2,883 ) Net income $ 5,977 $ 2,176 $ 8,153 Income (loss) allocable to other venture partners (3) $ 3,477 $ (1,611 ) (4) $ 1,866 Income allocable to the Company (3) $ 2,500 $ 3,787 $ 6,287 Amortization of capitalized costs (25 ) (109 ) (134 ) Equity in earnings on unconsolidated entities $ 2,475 $ 3,678 $ 6,153 Distribution declared to the Company $ 3,698 $ 7,218 $ 10,916 Distributions received by the Company $ 6,558 $ 6,529 $ 13,087 7. Variable Interests and Unconsolidated Entities ( continued ): Year Ended December 31, 2014 DMC Partnership Intrawest Venture Total Revenues $ 28,519 $ 19,856 $ 48,375 Property operating expenses (776 ) (10,744 ) (11,520 ) Depreciation and amortization (9,114 ) (6,005 ) (15,119 ) Interest expense (8,175 ) (5,408 ) (13,583 ) Interest and other income (expense) (35 ) 132 97 Net income (loss) $ 10,419 $ (2,169 ) $ 8,250 Income (loss) allocable to other venture partners (3) $ 1,602 $ (1,612 ) (4) $ (10 ) Income (loss) allocable to the Company (3) $ 8,817 $ (557 ) $ 8,260 Amortization of capitalized costs (298 ) (209 ) (507 ) Equity in earnings (loss) on unconsolidated entities $ 8,519 $ (766 ) $ 7,753 Distribution declared to the Company $ 11,345 $ 2,277 $ 13,622 Distributions received by the Company $ 11,345 $ 2,152 $ 13,497 FOOTNOTES: (1) In April 2016, the Company acquired its co-venture partner's 20% interest in the Intrawest Venture. Amounts presented reflect activity for the period January 1, 2016 through March 31, 2016. (2) On April 29, 2015, the Company completed the sale of its interest in the DMC Partnership as described above. As such, the summarized operating data for the partnership is reported through April 29, 2015. (3) Income was allocated between the Company and its venture partners using the hypothetical liquidation book value (“HLBV”) method of accounting. (4) This amount represents the venture partner’s portion of interest expense on a loan which the partners made to the venture prior to the Company's acquisition of the partner's 20% interest in the Intrawest Venture. Summarized balance sheet data As of December 31, 2015 Intrawest Venture (1) Real estate assets, net $ 66,493 Other assets 15,495 Mortgages and other notes payable 11,100 Other liabilities 16,552 Partners’ capital 54,336 Carrying amount of investment (2) 73,434 Company’s ownership percentage (2) 80.0 % FOOTNOTES: (1) As described above, the Company acquired the remaining 20% interest in the Intrawest Venture in April 2016. (2) As of December 31, 2015 , the Company’s share of partners’ capital determined under HLBV was approximately $71.4 million and the total difference between the carrying amount of the investment and the Company’s share of partners’ capital determined under HLBV was approximately $2.0 million . In 2015 , the Company contributed approximately $54.6 million to the Intrawest Venture and the Intrawest Venture paid off two of its mortgage loans of approximately $54.6 million , which were scheduled to mature in January and June 2015.

Indebtedness

Indebtedness	12 Months Ended
	Dec. 31, 2016
Debt Disclosure [Abstract]
Indebtedness	Indebtedness: Mortgages and Other Notes Payable - As of December 31, 2016 and 2015 , the Company had the following indebtedness (in thousands): Collateral Approximate Carrying Value at December 31, 2016 Interest Rate Maturity Date Principal Balance as of December 31, 2016 2015 Variable rate debt: Mortgage debt 1 ski and mountain lifestyle property $17.7 million 30-day LIBOR + 3.3% (1)(2) 9/1/2019 $ 7,648 $ 8,037 Mortgage debt 1 attractions property $42.8 million 30-day LIBOR + 3.0% (1) 11/30/2017 15,531 18,156 Mortgage debt 4 ski and mountain lifestyle properties $137.6 million 30-day LIBOR (subject to floor of 1.5%) + 3.5% (1) 10/5/2017 (4) 36,617 37,847 Total variable rate debt $ 59,796 $ 64,040 Fixed rate debt: Mortgage debt 1 attractions lifestyle property — 6.8% (3) $ — (3) $ 18,552 Mortgage debt 6 ski and mountain lifestyle properties $184.7 million 6.1% 10/5/2017 (4) 85,369 90,799 Mortgage debt 3 marina properties — 6.3% - 6.5% (3) — (3) 10,696 Other debt — — (5) 12/1/2020 1,421 1,705 Total fixed rate debt $ 86,790 $ 121,752 Total debt 146,586 185,792 Premium (discount) — (53 ) Unamortized loan costs (335 ) (1,398 ) Total $ 146,251 $ 184,341 FOOTNOTES: (1) The 30-day LIBOR rate was approximately 0.77% and 0.43% as of December 31, 2016 and 2015 , respectively. (2) The Company entered into an interest rate swap for this variable rate debt. See Note 9. “Derivative instruments and Hedging Activities” for additional information. (3) The Company repaid the debt in 2016 . (4) These loans were amended in January 2017 to extend the maturity date to October 5, 2017. See Note 17. "Subsequent Events" for additional information. (5) The $1.4 million loan is non-interest bearing. Senior Unsecured Notes — In June 2015, the Company repaid all of its senior unsecured notes with an outstanding principal balance of $318.3 million at a premium of 103.625% . In connection with this repayment, the Company recorded a loss on extinguishment of debt of approximately $18.8 million . Line of Credit — As of December 31, 2015 , the Company had a revolving line of credit with a total borrowing capacity of $100 million . This revolving line of credit facility bore interest at (a) between LIBOR plus 3.0% and LIBOR plus 3.75% or (b) between a base rate (the greater of the prime rate and the federal funds rate) plus 2.0% and a base rate plus 2.75% (both LIBOR and base rate pricing are contingent upon certain leverage ratios). In August 2016, the Company terminated its $100 million revolving line of credit. Mortgages and Other Notes Payable — During the year ended December 31, 2016 , the Company sold its remaining five marinas properties and used a portion of the net sales proceeds to repay approximately $10.5 million of outstanding indebtedness collateralized by three of the marina properties. In addition, the Company repaid outstanding indebtedness of approximately $18.2 million collateralized by one attractions property which was scheduled to mature in September 2016 and $10.5 million in scheduled principal payments under its mortgage loans. 8. Indebtedness ( continued ): The following is a schedule of future principal payments and maturities for all indebtedness (in thousands): 2017 $ 138,497 2018 721 2019 7,083 2020 285 2021 — Thereafter — $ 146,586 The Company has scheduled debt repayments and maturities of $138.5 million within the next twelve months. As a result of obtaining stockholder approval for the Sale of its remaining 36 properties, the Company intends to repay its outstanding indebtedness using net sales proceeds from the Sale which it anticipates will occur during the second quarter of 2017. In the event the Sale does not occur, the Company plans to refinance its debt. The estimated fair values of mortgages and other notes payable were approximately $146.3 million and $185.4 million as of December 31, 2016 and 2015 , respectively, based on rates and spreads the Company would expect to obtain for similar borrowings with similar loan terms. Because this methodology includes inputs that are less observable by the public and are not necessarily reflected in active markets, the measurement of the estimated fair values related to the Company’s mortgage notes payable is categorized as Level 3 on the three-level valuation hierarchy. Capital Lease Obligations — As of December 31, 2016 and 2015 , the Company had capital lease obligations of approximately $4.5 million and $4.5 million , respectively, which were recorded in Other liabilities in the accompanying consolidated balance sheets.

Derivative Instruments and Hedg

Derivative Instruments and Hedging Activities	12 Months Ended
	Dec. 31, 2016
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivative Instruments and Hedging Activities	Derivative Instruments and Hedging Activities: As of December 31, 2016 and 2015 , the Company had one interest rate swap that was designated as a cash flow hedge of interest payments from its inception. The fair value of the Company’s derivative financial instruments is included in other liabilities in the accompanying consolidated balance sheets as of December 31, 2016 and 2015 . The following table summarizes the terms and fair values of the Company’s derivative financial instrument (in thousands): Fair Value Liability Notional Amount Strike (1) Credit Spread (1) Trade Date Maturity Date December 31, 2016 2015 $ 7,648 3.6% 3.3% 9/28/2009 9/1/2019 $ (416 ) $ (618 ) FOOTNOTE: (1) The strike rate does not include the credit spread on the notional amount. The following table summarizes the gross and net amounts of the Company’s derivative financial instrument (in thousands): As of December 31, 2016 Notional Amount of Cash Flow Hedges Gross Amounts of Recognized Liabilities Gross Amounts Offset in the Balance Sheet Net Amounts of Liabilities Presented in the Balance Sheet Gross Amounts Not Offset in the Balance Sheets Financial Instruments Cash Collateral Net Amount $ 7,648 $ (416 ) $ — $ (416 ) $ (416 ) $ — $ (416 ) As of December 31, 2015 Notional Gross Gross Net Amounts of Liabilities Presented in the Balance Sheet Gross Amounts Not Offset in the Balance Sheets Financial Instruments Cash Collateral Net Amount $ 8,037 $ (618 ) $ — $ (618 ) $ (618 ) $ — $ (618 ) 9. Derivative Instruments and Hedging Activities (continued) : As of December 31, 2016 , the Company’s hedge qualified as highly effective and, accordingly, all of the change in value is reflected in other comprehensive income (loss). Determining fair value and testing effectiveness of these financial instruments requires management to make certain estimates and judgments. Changes in assumptions could have a positive or negative impact on the estimated fair values and measured effectiveness of such instruments could, in turn, impact the Company’s results of operations.

Fair Value Measurements

Fair Value Measurements	12 Months Ended
	Dec. 31, 2016
Fair Value Disclosures [Abstract]
Fair Value Measurements	Fair Value Measurements: The Company had 14 real estate investment properties that were carried at fair value as of December 31, 2015 , as a result of writing down the book values of these properties to their estimated fair values based on estimated discounted cash flows and residual values during 2015 . Additionally, the Company had six investment properties that were classified as assets held for sale and carried at fair value as of December 31, 2015 , based on estimated sales price less costs to sell. The Level 3 unobservable inputs used in determining the fair value of the real estate properties include, but are not limited to, appraisal information from an independent appraisal firm affiliated with the independent investment banking firm engaged as our valuation advisor, comparable sales transactions and other information from brokers and potential buyers, as applicable. The Company did no t have any real estate investment properties that were carried at fair value as of December 31, 2016 . The Company’s derivative instrument is valued primarily based on inputs other than quoted prices that are observable for the assets or liabilities (such as interest rates, volatilities, and credit risks) and is classified as Level 2 in the fair value hierarchy. The valuation of derivative instrument also includes a credit value adjustment which is a Level 3 input. However, the impact of the assumption is not significant to its overall valuation calculation, and therefore the Company considers its derivative instrument to be classified as Level 2. The fair value of such derivative instrument is included in other liabilities in the accompanying consolidated balance sheets. The following tables show the Company’s financial assets and liabilities carried at fair value as of December 31, 2016 and 2015 , as follows (in thousands): Fair Value Measurement as of December 31, 2016 Level 1 Level 2 Level 3 Liabilities: Derivative instrument $ 416 $ — $ 416 $ — Fair Value Measurement as of December 31, 2015 Level 1 Level 2 Level 3 Assets: Real estate investment properties, net $ 184,061 $ — $ — $ 184,061 Assets held for sale, net 40,588 — — 40,588 224,649 — — 224,649 Liabilities: Derivative instrument $ 618 $ — $ 618 $ —

Income Taxes

Income Taxes	12 Months Ended
	Dec. 31, 2016
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes: The Company would typically be subject to income tax expense computed at the federal statutory rate, however, due to its election as a REIT and the qualification of all required conditions to make such election, the Company is not subject to income taxes other than as discussed above in Note 2, “Significant Accounting Policies.” In 2016 the Company determined it did not satisfy the gross income test required to qualify as a REIT and as a result accrued an income tax liability of approximately $9.8 million as of December 31, 2015 . The Company revised its estimate of this liability to $8.4 million as of December 31, 2016 , which resulted in a $1.4 million income tax benefit during the year ending December 31, 2016 . 11. Income Taxes ( continued ): As of December 31, 2016 and 2015 , the Company recorded net current and long-term deferred tax assets related to depreciation differences, deferred income, and net operating losses at its TRS subsidiaries and properties under foreclosure elections as a result of certain tenant defaults and lease terminations. Because there are no historical earnings and no certainty that such deferred tax assets will be available to offset future tax liabilities, the Company has established a full valuation allowance as of December 31, 2016 and 2015 . The components of the deferred taxes recognized in the accompanying consolidated balance sheets at December 31, 2016 and 2015 are as follows (in thousands): Year Ended December 31, 2016 2015 Net operating losses $ 109,236 $ 107,655 Book/tax differences in deferred income 4,657 5,302 Book/tax differences in acquired assets (39,054 ) (36,732 ) Total deferred tax asset 74,839 76,225 Valuation allowance (74,839 ) (76,225 ) $ — $ — The Company’s TRS subsidiaries had net operating loss carry-forwards for federal and state purposes of approximately $269.0 million and $264.6 million as of December 31, 2016 and 2015 , respectively, to offset future taxable income. The estimated net operating loss carry-forwards will expire between 2025 and 2036 . The Company analyzed its material tax positions and determined that it has not taken any uncertain tax positions. In addition, the Company has determined that no significant differences exist between the total income tax expense or benefit and the amount computed by applying the statutory federal income rate to its TRS income before taxes and after consideration of the impact of the valuation allowance.

Related Party Arrangements

Related Party Arrangements	12 Months Ended
	Dec. 31, 2016
Related Party Transactions [Abstract]
Related Party Arrangements	Related Party Arrangements: In March 2014, the Company’s Advisor amended its advisory agreement, effective April 1, 2014, to eliminate all acquisition fees on equity, performance fees, debt acquisition fees and disposition fees, and to reduce asset management fees to 0.075% monthly (or 0.9% annually) of invested assets. For the years ended December 31, 2016 , 2015 and 2014 , the Advisor collectively earned fees and incurred reimbursable expenses as follows (in thousands): Year Ended December 31, 2016 2015 2014 Acquisition fees: Acquisition fees from offering proceeds (1) $ — $ — $ 319 Acquisition fees from debt proceeds (2) — — 1,521 Total — — 1,840 Asset management fees (3) 12,137 19,726 29,863 Reimbursable expenses: (4) Acquisition costs (5) — — 248 Operating expenses (6) 5,267 5,451 6,680 Total 5,267 5,451 6,928 Total fees earned and reimbursable expenses $ 17,404 $ 25,177 $ 38,631 FOOTNOTES: (1) Prior to April 1, 2014, acquisition fees were paid for services in connection with the selection, purchase, development or construction of real property. The fees were generally equal to 3.0% of gross offering proceeds from the sale of the Company’s common stock including proceeds from shares sold under its distribution reinvestment plan (“DRP”). Effective April 1, 2014, the Advisor eliminated this fee. These amounts are recorded as acquisition fees and costs in the accompanying consolidated statements of operations. 12. Related Party Arrangements ( continued ): (2) Prior to April 1, 2014, acquisition fees from debt proceeds were paid for services in connection with the incurrence of indebtedness, including the Company’s pro-rata share of joint venture indebtedness. The fees were generally equal to 3.0% of loan proceeds. Effective April 1, 2014, the Advisor eliminated this fee. These amounts are recorded as loan costs and are included as part of other assets in the accompanying consolidated balance sheets. (3) Amounts recorded as asset management fees to Advisor include fees of $0.2 million , $4.1 million and $11.2 million for the years ended December 31, 2016 , 2015 and 2014 , respectively, related to properties that are classified as assets held for sale that are included as discontinued operations in the accompanying consolidated statements of operations. Effective April 1, 2014, the asset management fees to Advisor were reduced as described above. (4) The Advisor and its affiliates are entitled to reimbursement of certain expenses incurred on behalf of the Company in connection with the Company’s organization, offering, acquisitions, and operating activities. Pursuant to the advisory agreement, the Company will not reimburse the Advisor for any amount by which total operating expenses paid or incurred by the Company exceed the greater of 2.0% of average invested assets or 25.0% of net income (the “Expense Cap”) in any expense year, as defined in the advisory agreement. For the expense years ended December 31, 2016 , 2015 and 2014 , operating expenses did not exceed the Expense Cap. Amounts representing acquisition costs are recorded as part of acquisition fees and costs in the accompanying consolidated statements of operations. Amounts representing operating expenses are recorded as part of general and administrative expenses in the accompanying consolidated statements of operations. (5) Includes approximately $0.04 million for reimbursable expenses to the Advisor for services provided to the Company for its executive officers during the year ended December 31, 2014 . The reimbursable expenses include components of salaries, benefits and other overhead charges. There were no such expenses recorded in acquisition costs during the years ended December 31, 2016 and 2015 . (6) Includes approximately $0.3 million , $0.4 million and $0.4 million for reimbursable expenses to the Advisor for services provided to the Company for its executive officers during the years ended December 31, 2016 , 2015 and 2014 , respectively. The reimbursable expenses include components of salaries, benefits and other overhead charges. Amounts due to affiliates for fees and expenses described above are as follows (in thousands): As of December 31, 2016 2015 Due to the Advisor and its affiliates: Operating expenses $ 475 $ 420

Stockholders' Equity

Stockholders' Equity	12 Months Ended
	Dec. 31, 2016
Equity [Abstract]
Stockholders' Equity	Stockholders’ Equity: Distributions — In order to qualify as a REIT for federal income tax purposes, the Company must, among other things, make distributions each taxable year equal to at least 90.0% of its REIT taxable income. Through November 2016, the Company made regular distributions on a quarterly basis. On November 1, 2016, in light of the Plan of Dissolution approved by the Company's board of directors as described above in Note 1. "Organization and Nature of Business," the board of directors approved the suspension of the Company's quarterly cash distribution on its common stock effective as of the fourth quarter distribution. For the years ended December 31, 2016 , 2015 and 2014 , the Company declared and paid distributions of approximately $211.4 million ( $0.6500 per share), $487.8 million ( $1.5000 per share) and $137.9 million ( $0.4252 per share), respectively. Distributions for the years ended December 31, 2016 and 2015, included special cash distributions of $0.50 per share and $1.30 per share, respectively, totaling approximately $162.6 million and $422.7 million , respectively, which were paid in cash and were funded from the proceeds of assets sales. The tax composition of distributions declared for years ended December 31, 2016 , 2015 and 2014 were as follows: December 31, Distribution Type 2016 2015 2014 Taxable as ordinary income 1.2 % 28.0 % — % Taxable as qualified dividends 0.2 % — % — % Taxable as capital gain — % 18.3 % — % Return of capital 98.6 % 53.7 % 100.0 % No amounts distributed to stockholders for the years ended December 31, 2016 , 2015 and 2014 were required to be or have been treated as a return of capital for purposes of calculating the stockholders’ return on their invested capital as described in the advisory agreement. Redemption of Shares — During the year ended December 31, 2014, the Company redeemed 1.4 million shares at an average price of $6.80 per share. In September 2014, the Company’s board of directors approved the suspension of the Company’s redemption plan effective as of September 26, 2014.

Concentrations of Risk

Concentrations of Risk	12 Months Ended
	Dec. 31, 2016
Risks and Uncertainties [Abstract]
Concentrations of Risk	Concentrations of Risk: The Company’s real estate investment portfolio is geographically diversified with properties in 18 states and Canada. The Company owns ski and mountain lifestyle properties in nine states and Canada with a majority of those properties located in the northeast, California and Canada. The Company’s attractions properties are located in eleven states with a majority located in the southern and western United States. During the year ended December 31, 2016 , we had one tenant who generated more than 10% of total revenues from continuing operations. This tenant operates seven of our ski and mountain lifestyle properties and represented approximately $43.1 million of our consolidated revenues from continuing operations.

Commitments and Contingencies

Commitments and Contingencies	12 Months Ended
	Dec. 31, 2016
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies: The Company acquired certain properties that are on land owned by a governmental entity or other third party where the Company owns a leasehold interest which requires payment of ground lease and permit fees in accordance with the lease agreement. For properties that are subject to a leasing arrangement, ground leases and permit fees are paid by the tenants and the Company records the corresponding equivalent revenue in rental income from operating leases. For properties that are on a managed structure, ground leases and permit fees are paid by the Company. The following is a schedule of future obligations under ground leases and land permits (in thousands): 2017 $ 11,646 2018 11,638 2019 11,594 2020 11,594 2021 11,594 Thereafter 115,637 Total $ 173,703 From time to time the Company may be exposed to litigation arising from operations of its business in the ordinary course of business. Management is not aware of any litigation that it believes will have a material adverse impact on the Company’s financial condition or results of operations.

Selected Quarterly Financial Da

Selected Quarterly Financial Data (Unaudited)	12 Months Ended
	Dec. 31, 2016
Quarterly Financial Data [Abstract]
Selected Quarterly Financial Data (Unaudited)	Selected Quarterly Financial Data (Unaudited): 2016 Quarters First Second Third Fourth Full Year Total revenues $ 41,781 $ 63,556 $ 96,382 $ 39,396 $ 241,115 Operating income (loss) 2,401 4,323 26,580 (264 ) 33,040 Equity in earnings of unconsolidated entities 1,290 — — — 1,290 Gain on purchase of controlling interest of investment in unconsolidated entity — 30,025 — — 30,025 Income tax provision — — (3,070 ) 4,424 1,354 Income (loss) from continuing operations 1,177 32,188 20,701 2,046 56,112 Discontinued operations (1) (523 ) 9,964 — 250 9,691 Gain on sale of real estate — 911 — (766 ) 145 Gain from sale of unconsolidated entities — — — — — Net income (loss) $ 654 $ 43,063 $ 20,701 $ 1,530 $ 65,948 Weighted average number of shares outstanding (basic and diluted) 325,183 325,183 325,183 325,183 325,183 Earnings (loss) per share of common stock (basic and diluted) $ — $ 0.13 $ 0.06 $ 0.01 $ 0.20 2015 Quarters First Second Third Fourth Full Year Total revenues $ 71,992 $ 85,659 $ 127,600 $ 52,414 $ 337,665 Operating income (loss) (7,767 ) (7,964 ) 35,751 (131,195 ) (111,175 ) Equity in earnings (loss) of unconsolidated entities 3,561 (783 ) 1,162 2,213 6,153 Income tax provision — (666 ) (8,449 ) (663 ) (9,778 ) Income (loss) from continuing operations (15,267 ) (39,149 ) 25,571 (131,779 ) (160,624 ) Discontinued operations (1) 7,052 199,720 7,614 (9,715 ) 204,671 Gain (loss) on sale of real estate — 27,337 (1,064 ) 20,321 46,594 Gain from sale of unconsolidated entity — 39,252 — — 39,252 Net income (loss) $ (8,215 ) $ 227,160 $ 32,121 $ (121,173 ) $ 129,893 Weighted average number of shares outstanding (basic and diluted) 325,183 325,183 325,183 325,183 325,183 Earnings (loss) per share of common stock (basic and diluted) $ (0.03 ) $ 0.70 $ 0.10 $ (0.37 ) $ 0.40 FOOTNOTE: (1) The Company classified certain properties as assets held for sale and reclassified the results related to those properties which met the criteria of discontinued operations under ASU 2014-08 as discontinued operations for all periods presented.

Subsequent Events

Subsequent Events	12 Months Ended
	Dec. 31, 2016
Subsequent Events [Abstract]
Subsequent Events	Subsequent Events: In January 2017, the Company extended the maturity dates of two of its mortgage loans from April 5, 2017 to October 5, 2017. All other terms remained the same. On March 24, 2017, the stockholders approved the sale of the Company’s remaining 36 properties pursuant to the Sale Agreement. The stockholders also approved the Plan of Dissolution, including the complete liquidation and dissolution of the Company following the closing of the sale of its remaining assets. As a result of the approval of the Plan of Dissolution, the Company will adopt the liquidation basis of accounting as of March 31, 2017 and for the periods subsequent to March 31, 2017 in accordance with GAAP. Accordingly, on March 31, 2017, the Company's assets will be adjusted to their estimated liquidation value, which will represent the estimated amount of cash and stock that it will collect on disposal of assets as it carries out its Plan of Dissolution. Additionally, the Company will accrue costs and income that it expects to incur and earn through the end of liquidation to the extent it has a reasonable basis for estimation.

SCHEDULE II-Valuation and Quali

SCHEDULE II-Valuation and Qualifying Accounts	12 Months Ended
	Dec. 31, 2016
Valuation and Qualifying Accounts [Abstract]
SCHEDULE II-Valuation and Qualifying Accounts	SCHEDULE II—Valuation and Qualifying Accounts Year Ended December 31, 2016 , 2015 and 2014 (in thousands) Year Description Balance at Charged to Charged to Deemed Collected/ Balance at 2014 Deferred tax asset valuation allowance $ 50,699 $ — $ 7,542 $ — $ — $ 58,241 Allowance for loan losses 4,803 3,270 (285 ) (6,224 ) — 1,564 $ 55,502 $ 3,270 $ 7,257 $ (6,224 ) $ — $ 59,805 2015 Deferred tax asset valuation allowance $ 58,241 $ — $ 17,984 $ — $ — $ 76,225 Allowance for loan losses 1,564 9,319 (530 ) (10,353 ) — — Allowance for doubtful accounts — 8,536 3,996 — — 12,532 $ 59,805 $ 17,855 $ 21,450 $ (10,353 ) $ — $ 88,757 2016 Deferred tax asset valuation allowance $ 76,225 $ — $ (1,386 ) $ — $ — $ 74,839 Allowance for doubtful accounts 12,532 1,854 (516 ) — — 13,870 $ 88,757 $ 1,854 $ (1,902 ) $ — $ — $ 88,709

SCHEDULE III-Real Estate and Ac

SCHEDULE III-Real Estate and Accumulated Depreciation	12 Months Ended
	Dec. 31, 2016
SEC Schedule III, Real Estate and Accumulated Depreciation Disclosure [Abstract]
SCHEDULE III-Real Estate and Accumulated Depreciation	CNL LIFESTYLE PROPERTIES, INC. AND SUBSIDIARIES SCHEDULE III—REAL ESTATE AND ACCUMULATED DEPRECIATION As of December 31, 2016 (in thousands) Initial Costs Costs Capitalized Gross Amounts at which (3)(5) Date Life on Property/Location (6) En- Land & Lease- Buildings Improve- Land & Lease- Buildings Total Accumu- Date of Gatlinburg Sky Lift $ — $ 19,154 $ 12 $ 8 $ — $ 19,162 $ 12 $ 19,174 $ (4,412 ) In 1953 12/22/2005 (2) Hawaiian Falls Waterparks $ 3,123 $ 3,663 $ 758 $ 2,037 $ 4,950 $ 3,812 $ 819 $ 9,581 $ (4,832 ) In 2004 4/21/2006 (2) Cypress Mountain $ 161 $ 19,001 $ 735 $ 5,694 $ 1,024 $ 13,862 $ 10,705 $ 25,591 $ (9,425 ) In 1975 5/30/2006 (2) Funtasticks Fun Center $ 3,038 $ — $ 1,413 $ 1,952 $ 2,469 $ — $ 1,110 $ 3,579 $ (1,349 ) In 1993 10/6/2006 (2) Camelot Park $ 179 $ — $ 70 $ 807 $ 178 $ — $ 72 $ 250 $ (251 ) In 1994 10/6/2006 (2) Zuma Fun Center $ 3,646 $ — $ 1,072 $ 2,607 $ 2,262 $ — $ 718 $ 2,980 $ (1,258 ) In 1991 10/6/2006 (2) Mountasia Family Fun Center $ 1,152 $ — $ 635 $ 35 $ 773 $ — $ 424 $ 1,197 $ (466 ) In 1994 10/6/2006 (2) Zuma Fun Center $ 1,551 $ — $ 558 $ 2,867 $ 963 $ — $ 404 $ 1,367 $ (646 ) In 1990 10/6/2006 (2) Brighton Ski Resort (1) $ 11,809 $ 2,123 $ 11,233 $ 3,173 $ 12,951 $ 2,123 $ 13,264 $ 28,338 $ (10,933 ) In 1949 1/8/2007 (2) Northstar-at-Tahoe Resort (1) $ 60,790 $ — $ 8,534 $ 13,951 $ 67,240 $ — $ 16,035 $ 83,275 $ (27,752 ) In 1972 1/19/2007 (2) Sierra-at-Tahoe Resort (1) $ 19,875 $ 800 $ 8,574 $ 3,411 $ 22,347 $ 800 $ 9,513 $ 32,660 $ (16,126 ) In 1968 1/19/2007 (2) Loon Mountain Resort (1) $ 9,226 $ 346 $ 4,673 $ 8,142 $ 15,808 $ 347 $ 6,233 $ 22,388 $ (9,527 ) In 1966 1/19/2007 (2) CNL LIFESTYLE PROPERTIES, INC. AND SUBSIDIARIES SCHEDULE III—REAL ESTATE AND ACCUMULATED DEPRECIATION—CONTINUED As of December 31, 2016 (in thousands) Initial Costs Costs Capitalized Gross Amounts at which (3)(5) Date Life on Property/Location (6) En- Land & Lease- Buildings Improve- Land & Lease- Buildings Total Accumu- Date of Summit-at-Snoqualmie Resort Snoqualmie Pass, Washington (1) $ 20,122 $ 792 $ 8,802 $ 4,827 $ 22,599 $ 792 $ 11,152 $ 34,543 $ (14,125 ) In 1945 1/19/2007 (2) White Water Bay Oklahoma City, Oklahoma $ 10,720 $ — $ 5,461 $ 628 $ 10,729 $ — $ 6,080 $ 16,809 $ (4,678 ) In 1981 4/6/2007 (2) Splashtown Houston, Texas $ 10,817 $ — $ 1,609 $ 9,166 $ 16,511 $ — $ 5,081 $ 21,592 $ (2,907 ) In 1981 4/6/2007 (2) Waterworld Concord, California $ 1,733 $ 7,841 $ 728 $ 663 $ 2,111 $ 7,841 $ 1,012 $ 10,964 $ (5,396 ) In 1995 4/6/2007 (2) Darien Lake Buffalo, New York $ 60,993 $ — $ 21,967 $ 5,491 $ 49,158 $ — $ 16,156 $ 65,314 $ (38,852 ) In 1955 4/6/2007 (2) Frontier City Oklahoma City, Oklahoma $ 7,265 $ — $ 7,518 $ 2,013 $ 6,604 $ — $ 6,640 $ 13,244 $ (5,177 ) In 1958 4/6/2007 (2) Wild Waves & Enchanted Village Seattle, Washington $ 19,200 $ — $ 2,837 $ 6,395 $ 13,377 $ — $ 1,088 $ 14,465 $ (12,422 ) In 1977 4/6/2007 (2) Magic Springs & Crystal Falls Hot Springs, Arkansas (1) $ 4,237 $ 8 $ 10,409 $ 5,505 $ 4,559 $ — $ 5,348 $ 9,907 $ (4,494 ) In 1977 4/16/2007 (2) Mountain High Resort Wrightwood, California $ 14,272 $ 14,022 $ 7,571 $ 940 $ 12,461 $ 10,268 $ 5,946 $ 28,675 $ (14,141 ) In 1930’s 6/29/2007 (2) Sugarloaf Mountain Resort Carrabassett Valley, Maine $ 15,408 $ — $ 5,658 $ 3,681 $ 14,713 $ 2,000 $ 8,034 $ 24,747 $ (8,975 ) In 1962 8/7/2007 (2) Sunday River Resort Newry, Maine $ 32,698 $ — $ 12,256 $ 6,408 $ 37,423 $ — $ 13,939 $ 51,362 $ (15,916 ) In 1959 8/7/2007 (2) The Northstar Commercial Village Lake Tahoe, California $ 2,354 $ — $ 33,932 $ 4,178 $ 2,759 $ — $ 37,705 $ 40,464 $ (13,200 ) In 2005 11/15/2007 (2) CNL LIFESTYLE PROPERTIES, INC. AND SUBSIDIARIES SCHEDULE III—REAL ESTATE AND ACCUMULATED DEPRECIATION—CONTINUED As of December 31, 2016 (in thousands) Initial Costs Costs Capitalized Subsequent to Acquisition Gross Amounts at which Carried at Close of Period (3)(5) Life on which depre- ciation in latest income state- ments is computed Property/Location (6) En- cumber ances Land & Land Improve- ments Lease- Hold Interests And Improve- ments Buildings Improve- ments Land & Land Improve- ments Lease- hold Interests and Improve- ments Buildings Total Accumu- lated Depre- ciation Date of Construc- tion Date Acquired Myrtle Waves Myrtle Beach, S. Carolina $ — $ — $ 5,875 $ 751 $ 177 $ — $ 2,727 $ 2,904 $ (651 ) In 1985 (4) (2) Mount Sunapee Newbury, New Hampshire $ — $ 6,727 $ 5,253 $ 685 $ 110 $ 6,909 $ 5,646 $ 12,665 $ (4,711 ) In 1960 12/5/2008 (2) Okemo Mountain Ludlow, Vermont $ 17,566 $ 25,086 $ 16,684 $ 1,867 $ 18,696 $ 25,144 $ 17,362 $ 61,202 $ (15,273 ) In 1963 12/5/2008 (2) Crested Butte Mt. Crested Butte, CO $ 1,305 $ 18,843 $ 11,188 $ 2,142 $ 1,332 $ 19,431 $ 12,715 $ 33,478 $ (11,772 ) In 1960's 12/5/2008 (2) Jiminy Peak Mountain Resort Hancock, Massachusetts (1) $ 7,802 $ — $ 8,164 $ 595 $ 8,087 $ — $ 8,474 $ 16,561 $ (4,738 ) In 1948 1/27/2009 (2) Hawaiian Waters Kapolei, Hawaii $ — $ 13,399 $ 3,458 $ 756 $ 413 $ 11,122 $ 3,088 $ 14,623 $ (3,678 ) In 1998 5/6/2009 (2) Pacific Park Santa Monica, California $ — $ 25,046 $ 1,575 $ 887 $ — $ 25,252 $ 2,256 $ 27,508 $ (5,419 ) In 1996 12/29/2010 (2) Stevens Pass Skykomish, King and Chelan County, WA (1) $ 62 $ 13,084 $ 5,280 $ 2,589 $ 1,626 $ 14,524 $ 4,865 $ 21,015 $ (4,089 ) 1945- 11/17/2011 (2) Rapids Waterpark West Palm Beach, Florida (1) $ 11,041 $ — $ 9,044 $ 6,710 $ 16,646 $ — $ 9,427 $ 26,073 $ (3,626 ) 1979 and 2007 6/29/2012 (2) Soak City Palm Springs, California $ 12,516 $ — $ 3,259 $ 16 $ 6,628 $ — $ 1,635 $ 8,263 $ (1,902 ) In 2001 8/12/2013 (2) Phoenix Wet n Wild Waterpark Phoenix, Arizona $ — $ 8,715 $ 4,748 $ 373 $ — $ 7,573 $ 4,139 $ 11,712 $ (2,046 ) In 2009 11/26/2013 (2) Total 364,661 178,650 231,543 111,950 377,684 170,962 249,824 798,470 (285,165 ) CNL LIFESTYLE PROPERTIES, INC. AND SUBSIDIARIES SCHEDULE III—REAL ESTATE AND ACCUMULATED DEPRECIATION—CONTINUED As of December 31, 2016 (in thousands) A summary of transactions in real estate and accumulated depreciation for the years ended December 31, 2016 , 2015 and 2014 are as follows: Real Estate Accumulated Depreciation Balance at December 31, 2013 $ 2,142,067 Balance at December 31, 2013 $ (415,216 ) 2014 Acquisitions 169,417 2014 Depreciation (64,652 ) 2014 Dispositions and assets held for sale (1,108,581 ) 2014 Accumulated depreciation on dispositions and assets held for sale 200,327 2014 Impairment provision (64,795 ) Balance at December 31, 2014 $ (279,541 ) Balance at December 31, 2014 $ 1,138,108 2015 Depreciation (36,866 ) 2015 Dispositions and assets held for sale (271,464 ) 2015 Accumulated depreciation on dispositions and assets held for sale 60,524 2015 Impairment provision (80,400 ) Balance at December 31, 2015 $ (255,883 ) Balance at December 31, 2015 $ 786,244 2016 Depreciation (29,282 ) 2016 Acquisitions (6) 100,687 Balance at December 31, 2016 (285,165 ) 2016 Dispositions (6) $ (88,461 ) Balance at December 31, 2016 $ 798,470 FOOTNOTES: (1) The property is encumbered at December 31, 2016 . (2) Buildings and improvements are depreciated over 39 years . Leasehold improvements are depreciation over their estimated useful lives. (3) The aggregate cost for federal income tax purposes is approximately $883.2 million . (4) We foreclosed on this property during the year ended December 31, 2014, as a result of default of the borrower. (5) Gross amounts are net of cumulative impairments recorded. Refer to Note 3. “Real Estate Investment Properties, net” in Item 8. “Financial Statements and Supplementary Data” for additional information. (6) Includes amounts related to the Company's acquisition of the remaining 20% interest in the Intrawest Venture, which held seven ski and mountain lifestyle properties, in April 2016. These properties were subsequently sold in October 2016. Refer to Note 7. "Variable Interest and Unconsolidated Entities" for additional information.

Summary of Significant Accounti

Summary of Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2016
Accounting Policies [Abstract]
Principles of Consolidation and Basis of Presentation	Principles of Consolidation and Basis of Presentation — The accompanying consolidated financial statements include the Company’s accounts, the accounts of wholly owned subsidiaries or subsidiaries for which the Company has a controlling interest, the accounts of variable interest entities (“VIEs”) in which the Company is the primary beneficiary, and the accounts of other subsidiaries over which the Company has a controlling financial interest. All material intercompany accounts and transactions have been eliminated in consolidation. In accordance with the guidance for the consolidation of VIEs, the Company is required to identify entities for which control is achieved through means other than voting rights and to determine the primary beneficiary of its VIEs. The Company quantitatively assesses whether it is the primary beneficiary of a VIE and considers various qualitative factors including, but not limited to, the design of the entity, its organizational structure including decision-making ability and financial agreements, its ability and the rights of others to participate in policy making decisions, as well as the Company's ability to liquidate the entity. If an entity is determined to be a VIE and the Company is determined to be the primary beneficiary, the Company includes the accounts of the VIE in its consolidated financial statements.
Allocation of Purchase Price for Real Estate Acquisitions	Allocation of Purchase Price for Real Estate Acquisitions — Upon the acquisition of real estate properties, the Company records the fair value of the tangible assets (consisting of land, buildings, improvements and equipment), intangible assets (consisting of in-place leases and above or below market lease values), assumed liabilities and any contingent liabilities at fair value. Fair value is defined as the exchange price that would be received for an asset or paid to transfer a liability in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. Fair value is determined based on incorporating market participant assumptions, discounted cash flow models using appropriate capitalization rates, and the Company’s estimates reflecting the facts and circumstances of each acquisition. Acquisition fees and costs are expensed for acquisitions that are considered a business combination. The fair value of the tangible assets of an acquired leased property is determined by various factors including the comparable land sale method and cost approach method which estimates the replacement cost new less depreciation and a go dark income approach on the building in which the building is assumed to be vacant. 2. Summary of Significant Accounting Policies (continued) The purchase price is allocated to in-place lease intangibles based on management’s evaluation of the specific characteristics of the acquired lease. Factors considered include estimates of carrying costs during hypothetical expected lease up periods, including estimates of lost rental income during the expected lease up periods, and costs to execute similar leases such as leasing commissions, legal and other related expenses. The Company may also enter into yield guarantees in connection with an acquisition, whereby the seller agrees to hold a portion of the purchase price in escrow that may be repaid to the Company in the event certain thresholds are not met. In calculating the estimated fair value of the yield guarantee, the Company considers information obtained about each property during the due diligence and budget process as well as discount rates to determine the fair value. The Company periodically evaluates the fair value of the yield guarantee and records any adjustments to the fair value as a component of other income (expense) in the accompanying consolidated statements of operations.
Depreciation and Amortization	Depreciation and Amortization — Real estate costs related to the acquisition and improvement of properties are capitalized. Repair and maintenance costs are charged to expense as incurred and significant replacements and betterments are capitalized. Repair and maintenance costs include all costs that do not extend the useful life of the real estate asset. The Company considers the period of future benefit of an asset to determine its appropriate useful life. Real estate assets are stated at cost less accumulated depreciation, which is computed using the straight-line method of accounting over the estimated useful lives of the related assets. Buildings and improvements are depreciated over the lesser of 39 years or the remaining life of the ground lease including renewal options and leasehold and permit interests. Amortization of intangible assets is computed using the straight-line method of accounting over the respective lease term or estimated useful life. The capitalized above-market or below-market lease intangible is amortized to rental income over the estimated remaining term of the respective leases. If a lease were to be terminated prior to its scheduled expiration, all unamortized costs related to the lease would be written off. Intangible assets with indefinite lives are not amortized, and like all intangibles, are evaluated for impairment on an annual basis or upon a trigger event.
Investment in Unconsolidated Entities	Investment in Unconsolidated Entities — The Company accounted for its investments in unconsolidated joint ventures under the equity method of accounting as the Company exercised significant influence, but did not maintain a controlling financial interest over these entities. These investments were recorded initially at cost and subsequently adjusted for cash contributions, distributions and equity in earnings (loss) of the unconsolidated entities. Based on the respective venture structures and preferences the Company received on distributions and liquidation, the Company recorded its equity in earnings of the entities under the hypothetical liquidation at book value (“HLBV”) method of accounting. Under this method, the Company recognized income or loss in each period as if the net book value of the assets in the ventures were hypothetically liquidated at the end of each reporting period following the provisions of the joint venture agreements. In any given period, the Company may have recorded more or less income than actual cash distributions received and more or less than what the Company may have received in the event of an actual liquidation. The Company’s investment in unconsolidated entities was accounted for as an asset acquisition in which acquisition fees and expenses were capitalized as part of the basis in the investment in unconsolidated entities. The acquisition fees and expenses created an outside basis difference that were allocated to the assets of the investee and, if assigned to depreciable or amortizable assets, the basis differences were then amortized as a component of equity in earnings (loss) of unconsolidated entities.
Acquisition Fees and Expenses	Acquisition Fees and Expenses — The Company incurred acquisition fees and expenses in connection with the selection and acquisition of properties, including expenses on properties it determined not to acquire. The Company immediately expensed all acquisition costs and fees associated with transactions deemed to be business combinations, but capitalized these costs for transactions deemed to be acquisitions of an asset or equity method investment.
Impairment of Real Estate Assets	Impairment of Real Estate Assets — Real estate assets are reviewed on an ongoing basis to determine whether there are any indicators, including property operating performance, general market conditions and significant changes in the manner of use or estimated holding period of the Company’s real estate assets or the strategy of its overall business, that the value of the real estate properties (including any related amortizable intangible assets or liabilities) may be impaired. To assess if a property value is potentially impaired, management compares the estimated current and projected undiscounted operating cash flows of the property over its remaining useful life (or holding period) plus an estimate of residual value (collectively, the “Estimated Cash Flows”), to the net carrying value of the property. Such cash flow projections consider factors such as estimated lease payments under the Company’s triple net leases, estimated future operating income on managed properties, trends and prospects, as well as the effects of demand, competition and other factors. In the event that the carrying value exceeds the Estimated Cash Flows, the Company would then determine fair value using discounted Estimated Cash Flows (or estimated sales proceeds less costs to sell) to determine fair value. In the event the carrying value exceeds the discounted Estimated Cash Flows (or estimated sales proceeds less costs to sell), the Company would record an impairment provision to adjust the carrying value of the asset group to the estimated fair value of the property. 2. Summary of Significant Accounting Policies (continued) For real estate the Company indirectly owned through an investment in a joint venture, tenant-in-common interest or other similar investment structure which was accounted for under the equity method, when impairment indicators were present, the Company compared the estimated fair value of its investment to the carrying value. An impairment charge was recorded to the extent the fair value of its investment was less than the carrying amount and the decline in value was determined to be other than a temporary decline. The estimated fair values of unconsolidated entities were based upon a discounted cash flow model that included all estimated cash inflows and outflows over the expected holding period. The capitalization rates and discounted rates utilized in the model were based upon rates that the Company believed to be within a reasonable range of current market rates for the underlying properties.
Bargain Purchase Gain	Bargain Purchase Gain — A bargain purchase gain is recorded as a gain in earnings in the period of acquisition when the fair value of assets acquired net of liabilities assumed is greater than the consideration transferred.
Assets Held for Sale, net and Discontinued Operations	Assets Held for Sale, net and Discontinued Operations — Assets that are classified as held for sale are recorded at the lower of their carrying value or fair value less costs to dispose. The Company classifies assets as held for sale once management has the authority to approve and commits to a plan to sell, the assets are available for immediate sale, an active program to locate a buyer and the sale of the assets are probable and transfer of the assets are expected to occur within one year. The Company's remaining properties as of December 31, 2016 require the approval of the proposed Sale Agreement by stockholders in order to be sold. Subsequent to classification of an asset as held for sale, no further depreciation or amortization relating to the asset are recorded. The Company presents the assets of any properties which have been sold, or otherwise qualify as held for sale, separately in the consolidated balance sheet. The Company classifies assets held for sale as discontinued operations if the disposal has (or will have) a major effect on the Company’s operations and financial results. For those assets held for sale that qualify for classification as discontinued operations, the specific components of net income (loss) are presented as discontinued operations include operating income (loss) and interest expense directly attributable to the property held for sale, net. In addition, the net gain or loss (including any impairment loss) on the eventual disposal of assets held for sale that qualify as discontinued operations are presented as discontinued operations when recognized.
Real Estate Dispositions	Real Estate Dispositions — When real estate is disposed of, the related cost, accumulated depreciation or amortization and any accrued rental income for operating leases are removed from the accounts and gains and losses from the disposition are reflected in the consolidated statements of operations. Gains from the disposition of real estate are generally recognized using the full accrual method in accordance with the Financial Accounting Standards Board (“FASB”) guidance included in Real Estate Sales , provided that various criteria relating to the terms of sale and subsequent involvement by the Company with the properties are met. Gains may be deferred in whole or in part until the sales satisfy the requirements of gain recognition on sale of real estate.
Cash	Cash — Cash consists of demand deposits at commercial banks. The Company also invests in cash equivalents consisting of highly liquid investments in money market funds with original maturities of three months or less during the year. As of December 31, 2016 , cash deposits exceeded federally insured amounts. However, the Company has not experienced any losses on such accounts. Management continues to monitor third-party depository institutions that hold the Company’s cash, primarily with the goal of safety of principal and secondarily on maximizing yield on those funds. To that end, the Company has diversified its cash among several banking institutions in an attempt to minimize exposure to any one of these entities. Management has attempted to select institutions that it believes are strong based on an evaluation of their financial stability and exposure to poor performing assets.
Restricted Cash	Restricted Cash — Certain amounts of cash are restricted to fund capital expenditures for the Company’s real estate investment properties or represent certain tenant security deposits.
Derivative Instruments and Hedging Activities	Derivative Instruments and Hedging Activities — The Company utilizes derivative instruments to partially offset the effect of fluctuating interest rates on the cash flows associated with its variable-rate debt. The Company follows established risk management policies and procedures in its use of derivatives and does not enter into or hold derivatives for trading or speculative purposes. The Company records all derivative instruments on the balance sheet at fair value. On the date the Company enters into a derivative contract, the derivative is designated as a hedge of the exposure to variable cash flows of a forecasted transaction. The effective portion of the derivative’s gain or loss is initially reported as a component of other comprehensive income (loss) and subsequently recognized in the statement of operations in the periods in which earnings are impacted by the variability of the cash flows of the hedged item. Any ineffective portion of the gain or loss is reflected in interest expense in the statement of operations. The Company made an accounting policy election to use the exception in ASU 820-10-35-18D with respect to measuring fair value of a group of financial assets and financial 2. Summary of Significant Accounting Policies (continued) liabilities entered into with a particular counterparty, where the Company reports the net exposure to the credit risk of that counterparty.
Fair Value of Financial Instruments	Fair Value of Financial Instruments — The estimated fair value of cash, accounts receivable, accounts payable and accrued expenses approximates carrying value as of December 31, 2016 and 2015 , because of the liquid nature of the assets and relatively short maturities of the obligations. See Footnote 8. “Indebtedness” for the Company’s estimates of the fair value of its indebtedness as of December 31, 2016 and 2015 .
Fair Value Measurements	Fair Value Measurements — Fair value assumptions are based on the framework established in the fair value accounting guidance under GAAP. The framework specifies a hierarchy of valuation inputs which was established to increase consistency, clarity and comparability in fair value measurements and related disclosures. The guidance describes a fair value hierarchy based upon three levels of inputs that may be used to measure fair value, two of which are considered observable and one that is considered unobservable. The following describes the three levels of fair value inputs: • Level 1 — Quoted prices (unadjusted) in active markets for identical assets or liabilities that the Company has the ability to access. • Level 2 — Inputs, other than quoted prices included in Level 1, that are observable for the asset or liability either directly or indirectly; such as, quoted prices for similar assets or liabilities or other inputs that can be corroborated by observable market data. • Level 3 — Unobservable inputs for the asset or liability, which are typically based on the Company’s own assumptions, as there is little, if any, related market activity. When market data inputs are unobservable, the Company utilizes inputs that it believes reflects the Company’s best estimate of the assumptions market participants would use in pricing the asset or liability. When inputs used to measure fair value fall within different levels of the hierarchy, the level within which the fair value measurement is categorized is based on the lowest level input that is significant to the fair value measurement.
Deferred Financing Costs	Deferred Financing Costs — Financing costs paid in connection with obtaining long-term debt are deferred and amortized over the life of the debt using the effective interest method.
Foreign Currency Translation	Foreign Currency Translation — The accounting records for the Company’s one consolidated foreign location, in Vancouver, British Columbia, are maintained in the local currency and revenues and expenses are translated using the average exchange rates during the period. Assets and liabilities are translated to U.S. dollars using the exchange rate in effect at the balance sheet date. The resulting translation adjustments are reflected in stockholders’ equity as a cumulative foreign currency translation adjustment, a component of accumulated other comprehensive income (loss). Gains and losses from foreign currency transactions are included in the accompanying consolidated statements of operations.
Revenue Recognition	Revenue Recognition — For properties subject to operating leases, rental revenue is recorded on a straight-line basis over the terms of the leases. Additional percentage rent that is due contingent upon tenant performance thresholds, such as gross revenues, is deferred until the underlying performance thresholds have been achieved. Property operating revenues from managed properties, which are not subject to leasing arrangements, are derived from room rentals, food and beverage sales, ski and spa operations, golf operations, membership dues, ticket sales, concessions, waterpark and theme park operations, resident rental fees, assistance services, and other service revenues. Such revenues, excluding membership dues, are recognized when rooms are occupied, when services have been performed, and when products are delivered. Membership dues are recognized ratably over the term of the membership period. For mortgages and other notes receivable, interest income is recognized on an accrual basis when earned, except for loans placed on non-accrual status, for which interest income is recognized when received. Any deferred portion of contractual interest is recognized on a straight-line basis over the term of the corresponding note. Loan origination fees charged and acquisition fees incurred in connection with the making of loans are recognized as interest income, and a reduction in interest income, respectively over the term of the notes.
Capital Improvement Reserve Income	Capital Improvement Reserve Income — The Company’s leases require the tenants to pay certain contractual amounts that are set aside by the Company for replacements of fixed assets and other improvements to the properties. These amounts are and will remain the property of the Company during and after the term of the lease. The amounts are recorded as capital improvement reserve income at the time that they are earned and are included in rental income from operating leases in the accompanying consolidated statements of operations.
Mortgages and Other Notes Payable	Mortgages and Other Notes Payable — Mortgages and other notes payable are recorded at the stated principal amount and are generally collateralized by the Company’s properties with monthly interest only and/or principal payments.
Self Insurance Reserves	Self Insurance Reserves — The Company has self-insured retention amounts for certain properties. Accordingly, the Company has established a liability for both known claims and claims that are incurred but not reported ("IBNR"). IBNR reserves are recorded as a component of Other liabilities in the accompanying consolidated balance sheets.
Income Taxes	Income Taxes — The Company has elected to be taxed as a REIT under Sections 856 through 860 of the Internal Revenue Code of 1986, as amended and related regulations beginning with the year ended December 31, 2004. As a REIT, the Company generally is not subject to federal corporate income taxes provided it distributes at least 100% of its REIT taxable income and capital gains and meets certain other requirements for qualifying as a REIT. Subject to compliance with applicable tax law, certain properties may be operated using an eligible third-party manager. In those cases, taxable income from those operations may be subject to federal income tax. After taking into consideration the savings clause described below in "Revision of Previously Issued Financial Statements," management believes that the Company was organized and operated in a manner that enabled the Company to continue to qualify for treatment as a REIT for federal income tax purposes for the years ended December 31, 2016 , 2015 and 2014 . Under the provisions of the Internal Revenue Code and applicable state laws, each TRS entity of the Company is subject to taxation of income on the profits and losses from its operations. The Company accounts for federal and state income taxes with respect to its TRS entities using the asset and liability method. Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the consolidated financial statement carrying amounts of existing assets and liabilities and respective tax bases and operating losses and tax-credit carry forwards. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date. Valuation allowances are established when necessary to reduce deferred tax assets to the amount expected to be realized.
Earnings (loss) Per Share	Earnings (loss) Per Share — Earnings (loss) per share is calculated based upon the weighted-average number of shares of common stock outstanding during the period.
Use of Estimates	Use of Estimates — The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities as of the date of the financial statements, the reported amounts of revenues and expenses during the reporting periods and the disclosure of contingent liabilities. For example, significant estimates and assumptions are made in connection with the allocation of purchase price and the analysis of real estate, equity method investments and for impairments. Actual results could differ from those estimates.
Segment Information	Segment Information — Operating segments are components of an enterprise for which separate financial information is available and is evaluated regularly by the chief operating decision maker in deciding how to allocate resources and assess performance. The Company’s chief operating decision maker currently evaluates the Company’s operations from a number of different operational perspectives including but not limited to a property-by-property basis and by tenant and operator. The Company derives all significant revenues from a single reportable operating segment of business, lifestyle real estate regardless of the type (ski, attractions, etc.) or ownership structure (leased or managed).
Reclassifications	Reclassifications — Certain prior period amounts in the consolidated financial statements have been reclassified to conform to the current period presentation with no effect on previously reported total assets and total liabilities, net loss or stockholders’ equity.
Recent Accounting Pronouncements	Adopted Accounting Pronouncements — In February 2015, the FASB issued ASU 2015-02, “Consolidation (Topic 810): Amendments to the Consolidation Analysis,” which requires amendments to both the variable interest entity and voting models. The amendments (i) modify the identification of variable interests (fees paid to a decision maker or service provider), the VIE characteristics for a limited partnership or similar entity and primary beneficiary determination under the VIE model, and (ii) eliminate the presumption within the current voting model that a general partner controls a limited partnership or similar entity. The new guidance is effective for annual reporting periods, and interim periods within those annual periods, beginning after December 15, 2015 with early adoption permitted. The amendments may be applied using either a modified retrospective or full retrospective approach. The Company adopted this ASU effective January 1, 2016, and determined that the adoption of this ASU did not have a significant effect on its consolidated financial position, results of operations or cash flows. In April 2015, the FASB issued ASU 2015-03, “Interest-Imputation of Interest (Subtopic 835-30): Simplifying the Presentation of Debt Issuance Costs,” which requires that loan costs related to a recognized debt liability be presented in the balance sheet as a direct deduction from the carrying amount of that debt liability, consistent with debt discounts or premiums. The new guidance is effective for annual reporting periods, and interim periods within those annual periods, beginning after December 15, 2015 with early adoption permitted. The ASU is to be applied retrospectively for each period presented. Upon adoption, an entity is required to comply with the applicable disclosures for a change in an accounting principle. The FASB subsequently issued ASU 2015-15, “Presentation and Subsequent Measurement of Debt Issuance Costs Associated with Line-of-Credit Arrangements,” which clarifies that, given the absence of authoritative guidance in ASU 2015-03 regarding presentation and subsequent measurement of loan costs related to line-of-credit arrangements, the SEC Staff would not object to an entity deferring and presenting loan costs as an asset and subsequently amortizing the loan costs ratably over the term of the line-of-credit arrangement, regardless of whether there are any outstanding borrowings on the line-of-credit arrangement. The Company adopted this ASU effective January 1, 2016. As permitted by ASU 2015-03, the Company retrospectively adjusted the presentation of loan costs related to its mortgage and notes payables and presented these loan costs as a direct deduction from the carrying amount of the debt payable for all periods presented. As permitted by ASU 2015-15, the Company did not change the presentation of loan costs related to its line of credit arrangement and continued to present these loan costs as Other Assets on the statement of financial position. The following table provides additional details by financial statement line item of the adjusted presentation in the Company’s consolidated balance sheets as of December 31, 2015 (in thousands): As Filed December 31, 2015 Adjustments Adjusted December 31, 2015 Other assets $ 18,176 $ (1,398 ) $ 16,778 Mortgages and other notes payable $ 185,739 $ (1,398 ) $ 184,341 In September 2015, the FASB issued ASU 2015-16, “Business Combinations (Topic 805): Simplifying the Accounting for Measurement-Period Adjustments,” which requires an acquirer to recognize provisional amounts that are identified during the measurement period in the reporting period in which the adjustment amounts are determined. The amendments require that the acquirer record, in the same period’s financial statements, the effect on earnings of changes in depreciation, amortization, or other income effects, if any, as a result of the change to the provisional amounts, calculated as if the accounting had been completed at the acquisition date. The new guidance is effective for annual reporting periods, and interim periods within those annual periods, beginning after December 15, 2015 with early adoption permitted. The Company adopted this ASU effective January 1, 2016, and determined that the adoption of this ASU did not have a significant effect on its consolidated financial position, results of operations or cash flows. In August 2014, the FASB issued ASU 2014-15, "Disclosure of Uncertainties about an Entity's Ability to Continue as a Going Concern," which requires management to assess a company's ability to continue as a going concern and to provide related footnote disclosures in certain circumstances. Under the new standard, disclosures are required when conditions give rise to substantial doubt about a company's ability to continue as a going concern within one year from the financial statement issuance date. The new standard applies to all companies and is effective for the annual period ending after December 15, 2016, and all annual and interim periods thereafter. The Company adopted this ASU effective with the annual period ending December 31, 2016. The adoption of this ASU did not have an effect on the Company's consolidated financial position, results of operations or cash flows. 2. Summary of Significant Accounting Policies (continued) Recent Accounting Pronouncements — In May 2014, the FASB issued ASU No. 2014-09, “Revenue from Contracts with Customers,” as a new ASC topic (Topic 606). The core principle of this amendment is that an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. The standard further provides guidance for any entity that either enters into contracts with customers to transfer goods or services or enters into contracts for the transfer of nonfinancial assets, unless those contracts are within the scope of other standards (for example, lease contracts). In August 2015, the FASB issued ASU 2015-14, “Revenue from Contracts with Customers: Deferral of Effective Date” which defers the original effective date of ASU 2014-09 by one year. ASU 2014-09 is now effective for annual periods beginning after December 15, 2017, including interim periods within that reporting period, with earlier adoption permitted only as of annual reporting periods beginning after December 15, 2016, including interim reporting periods within that reporting period. ASU 2014-09 can be adopted using one of two retrospective application methods: 1) retrospectively to each prior reporting period presented or 2) as a cumulative-effect adjustment as of the date of adoption. The Company has determined that it will not early adopt ASU 2014-09 as a result of the approval of the Plan of Dissolution by the Company's stockholders. The Company is still evaluating the impact the adoption of this ASU will have on the Company’s consolidated financial position, results of operations or cash flows. In February 2016, the FASB issued ASU 2016-02, “Leases (Topic 842): Accounting for Leases,” which sets out the principles for the recognition, measurement, presentation and disclosure of leases for both parties to a contract (i.e. lessees and lessors). The ASU requires lessees to recognize assets and liabilities on the balance sheet for the rights and obligations created by all leases with terms of more than 12 months. The ASU further modifies lessors’ classification criteria for leases and the accounting for sales-type and direct financing leases. The ASU will also require qualitative and quantitative disclosures designed to give financial statement users additional information on the amount, timing, and uncertainty of cash flows arising from leases. The ASU is effective for annual reporting periods, and interim periods within those annual periods, beginning after December 15, 2018 with early adoption permitted. The ASU is to be applied using a modified retrospective approach. The Company has determined that it will not early adopt this ASU as a result of the approval of the Plan of Dissolution by the Company's stockholders. The Company is still evaluating the impact the adoption of this ASU will have on the Company’s consolidated financial position, results of operations or cash flows if the Plan of Dissolution is not approved by stockholders. In August 2016, the FASB issued ASU 2016-15, “Statement of Cash Flows (Topic 230): Classification of Certain Cash Receipts and Cash Payments,” which will make eight targeted changes to how cash receipts and cash payments are presented and classified in the statement of cash flows. The ASU further clarifies how the predominance principle should be applied to cash receipts and payments relating to more than one class of cash flows. The ASU is effective for annual reporting periods, and interim periods within those annual periods, beginning after December 15, 2017. The ASU is to be applied retrospectively for each period presented. The Company has determined that it will not early adopt this ASU as a result of the approval of the Plan of Dissolution by the Company's stockholders. The Company is still evaluating the impact the adoption of this ASU will have on the Company’s consolidated cash flows. In October 2016, the FASB issued ASU 2016-17, “Consolidation (Topic 810): Interests Held Through Related Parties that are under Common Control,” which requires an entity to consider its indirect interests held by related parties that are under common control on a proportionate basis when evaluating whether the entity is a primary beneficiary of a VIE. The ASU is effective for annual reporting periods, and interim periods within those annual periods, beginning after December 15, 2016. The Company will adopt this ASU on January 1, 2017 and is still evaluating the impact the adoption of this ASU will have on the Company’s consolidated financial position, results of operations or cash flows. In November 2016, the FASB issued ASU 2016-18, “Statement of Cash Flows (Topic 230): Restricted Cash,” which modifies the presentation of the statement of cash flows and requires reconciliation to the overall change in the total of cash, cash equivalents, restricted cash and restricted cash equivalents. As a result, the statement of cash flows will no longer present transfers between cash and cash equivalents and restricted cash and restricted cash equivalents. The ASU is effective for annual reporting periods, and interim periods within those annual periods, beginning after December 15, 2017. The ASU is to be applied retrospectively for each period presented. The Company has determined that it will not early adopt this ASU as a result of the approval of the Plan of Dissolution by the Company's stockholders. The Company is still evaluating the impact the adoption of this ASU will have on the Company’s consolidated cash flows.

Summary of Significant Accoun30

Summary of Significant Accounting Policies (Tables)	12 Months Ended
	Dec. 31, 2016
Accounting Policies [Abstract]
Schedule of Error Corrections and Prior Period Adjustments	The following changes have been made to the Company's previously issued consolidated balance sheet, statements of operations and statements of comprehensive income (in thousands, except per share amounts). No changes were made to the consolidated statement of cash flows. December 31, 2015 As Reported Adjustment As Revised Accounts payable and accrued expenses $ 11,361 $ 1,484 $ 12,845 Income tax liabilities — 9,778 9,778 Total Liabilities 223,282 11,262 234,544 Accumulated deficit (352,974 ) (11,262 ) (364,236 ) Total Stockholders' Equity 806,179 (11,262 ) 794,917 The following changes have been made to the Company's unaudited condensed consolidated statements of operations (in thousands, except per share amounts): Quarter Ended March 31, 2015 As Reported Adjustment As Revised Expenses Property operating expenses $ 37,038 $ 660 $ 37,698 Loss from continuing operations (14,607 ) (660 ) (15,267 ) Net loss $ (7,555 ) $ (660 ) $ (8,215 ) Net loss per share of common stock (basic and diluted): Continuing operations $ (0.04 ) $ (0.01 ) $ (0.05 ) Net income per share $ (0.02 ) $ (0.01 ) $ (0.03 ) 2. Summary of Significant Accounting Policies (continued) Quarter Ended June 30, 2015 Six Months Ended June 30, 2015 As Reported Adjustment As Revised As Reported Adjustment As Revised Expenses Property operating expenses $ 52,021 $ 275 $ 52,296 $ 89,059 $ 935 $ 89,994 Other income (expense) Income tax provision — (666 ) (666 ) — (666 ) (666 ) Loss from continuing operations (38,208 ) (941 ) (39,149 ) (52,815 ) (1,601 ) (54,416 ) Net income before gain on sale of real estate and unconsolidated entity 161,512 (941 ) 160,571 153,957 (1,601 ) 152,356 Net income $ 228,101 $ (941 ) $ 227,160 $ 220,546 $ (1,601 ) $ 218,945 Net income per share of common stock (basic and diluted): Continuing operations $ 0.09 $ — $ 0.09 $ 0.04 $ (0.01 ) $ 0.03 Net income per share $ 0.70 $ — $ 0.70 $ 0.68 $ (0.01 ) $ 0.67 Quarter Ended September 30, 2015 Nine Months Ended September 30, 2015 As Reported Adjustment As Revised As Reported Adjustment As Revised Expenses Property operating expenses $ 56,256 $ 275 $ 56,531 $ 145,315 $ 1,210 $ 146,525 Other income (expense) Income tax provision — (8,449 ) (8,449 ) — (9,115 ) (9,115 ) Income (loss) from continuing operations 34,295 (8,724 ) 25,571 (18,775 ) (10,325 ) (29,100 ) Net income before gain on sale of real estate and unconsolidated entity 41,909 (8,724 ) 33,185 195,611 (10,325 ) 185,286 Net income $ 40,845 $ (8,724 ) $ 32,121 $ 261,391 $ (10,325 ) $ 251,066 Net income per share of common stock (basic and diluted): Continuing operations $ 0.11 $ (0.03 ) $ 0.08 $ 0.14 $ (0.03 ) $ 0.11 Net income per share $ 0.13 $ (0.03 ) $ 0.10 $ 0.80 $ (0.03 ) $ 0.77 2. Summary of Significant Accounting Policies (continued) Quarter Ended December 31, 2015 Year Ended December 31, 2015 As Reported Adjustment As Revised As Reported Adjustment As Revised Expenses Property operating expenses $ 27,312 $ 274 $ 27,586 $ 172,627 $ 1,484 $ 174,111 Other income (expense) Income tax provision — (663 ) (663 ) — (9,778 ) (9,778 ) Loss from continuing operations (130,842 ) (937 ) (131,779 ) (149,362 ) (11,262 ) (160,624 ) Net (loss) income before gain on sale of real estate and unconsolidated entity (140,302 ) (937 ) (141,239 ) 55,309 (11,262 ) 44,047 Net (loss) income $ (120,236 ) $ (937 ) $ (121,173 ) $ 141,155 $ (11,262 ) $ 129,893 Net (loss) income per share of common stock (basic and diluted): Continuing operations $ (0.34 ) $ — $ (0.34 ) $ (0.20 ) $ (0.03 ) $ (0.23 ) Net income per share $ (0.37 ) $ — $ (0.37 ) $ 0.43 $ (0.03 ) $ 0.40 The following changes have been made to the Company's unaudited condensed consolidated statements of comprehensive income (in thousands): Quarter Ended March 31, 2015 As Reported Adjustment As Revised Net loss $ (7,555 ) $ (660 ) $ (8,215 ) Net comprehensive income (2,448 ) (660 ) (3,108 ) Quarter Ended June 30, 2015 Six Months Ended June 30, 2015 As Reported Adjustment As Revised As Reported Adjustment As Revised Net income $ 228,101 $ (941 ) $ 227,160 $ 220,546 $ (1,601 ) $ 218,945 Net comprehensive income 229,051 (941 ) 228,110 219,048 (1,601 ) 217,447 Quarter Ended September 30, 2015 Nine Months Ended September 30, 2015 As Reported Adjustment As Revised As Reported Adjustment As Revised Net income $ 40,845 $ (8,724 ) $ 32,121 $ 261,391 $ (10,325 ) $ 251,066 Net comprehensive income 38,538 (8,724 ) 29,814 257,586 (10,325 ) 247,261 Year Ended December 31, 2015 As Reported Adjustment As Revised Net income $ 141,155 $ (11,262 ) $ 129,893 Net comprehensive income 136,569 (11,262 ) 125,307
Additional Details of Adjustments to Financial Statements	The following table provides additional details by financial statement line item of the adjusted presentation in the Company’s consolidated balance sheets as of December 31, 2015 (in thousands): As Filed December 31, 2015 Adjustments Adjusted December 31, 2015 Other assets $ 18,176 $ (1,398 ) $ 16,778 Mortgages and other notes payable $ 185,739 $ (1,398 ) $ 184,341

Real Estate Investment Proper31

Real Estate Investment Properties, net (Tables)	12 Months Ended
	Dec. 31, 2016
Banking and Thrift [Abstract]
Schedule of Real Estate Investment Properties	As of December 31, 2016 and 2015 , real estate investment properties consisted of the following (in thousands): 2016 2015 Land and land improvements $ 377,684 $ 369,902 Leasehold interests and improvements 170,962 170,970 Building and building improvements 249,824 245,372 Equipment 522,194 506,935 Less: accumulated depreciation and amortization (642,623 ) (580,590 ) Total $ 678,041 $ 712,589

Assets Held for Sale, Net and32

Assets Held for Sale, Net and Discontinued Operations (Tables)	12 Months Ended
	Dec. 31, 2016
Discontinued Operations and Disposal Groups [Abstract]
Net Carrying Value of Assets Held for Sale	The following table presents the net carrying value of the properties classified as held for sale (in thousands) as of December 31: 2015 Land and land improvements $ 5,673 Leasehold interests and improvements 27,184 Building and building improvements 6,352 Equipment, net 1,378 Other assets 25 Restricted cash 1,408 Accounts and other receivables 699 Total $ 42,719
Summary of Loss from Discontinued Operations	The following table is a summary of loss from discontinued operations for the years ended December 31, (in thousands): 2016 2015 2014 Revenues $ 3,838 $ 65,796 $ 178,887 Expenses (3,189 ) (49,251 ) (115,773 ) Depreciation and amortization — — (36,709 ) Impairment provision — (7,749 ) (37,867 ) Operating income (loss) 649 8,796 (11,462 ) Net gain from sale of real estate 9,687 200,243 4,144 Loss on extinguishment of debt (1) (308 ) (2,042 ) (4,818 ) Gain on insurance and retirements (412 ) 2,816 4,791 Other income (expense) (2) 75 (5,142 ) (24,361 ) Income (loss) from discontinued operations $ 9,691 $ 204,671 $ (31,706 ) FOOTNOTES : (1) During the year ended December 31, 2016 , the Company recorded loss on extinguishment of debt from the sale of its five remaining marina properties. During the year ended December 31, 2015 , the Company recorded loss on extinguishment of debt from the sale of the 38 senior housing properties. During the year ended December 31, 2014 , the Company recorded loss on extinguishment of debt from the sale of its 48 golf properties and its multi-family residential property. (2) Amounts include amortization of loss and loss on termination of cash flow hedge of approximately $3.0 million for the year ended December 31, 2014 . There was no amortization of loss and loss on termination of cash flow hedge for the years ended December 31, 2016 and 2015 .

Intangible Assets, net (Tables)

Intangible Assets, net (Tables)	12 Months Ended
	Dec. 31, 2016
Goodwill and Intangible Assets Disclosure [Abstract]
Gross Carrying Amount and Accumulated Amortization of Intangible Assets	The gross carrying amount and accumulated amortization of the Company’s intangible assets as of December 31, 2016 and 2015 are as follows (in thousands): Intangible Assets Gross Carrying Amount Accumulated Amortization 2016 Net Book Value In place leases $ 11,224 $ (5,641 ) $ 5,583 Trade name (indefinite-lived) 10,297 — 10,297 Total $ 21,521 $ (5,641 ) $ 15,880 Intangible Assets Gross Carrying Accumulated 2015 Net Book Value In place leases $ 11,203 $ (5,013 ) $ 6,190 Trade name (indefinite-lived) 10,297 — 10,297 Total $ 21,500 $ (5,013 ) $ 16,487
Gross Carrying Amount of Indefinite-Lived Intangible Assets	The gross carrying amount and accumulated amortization of the Company’s intangible assets as of December 31, 2016 and 2015 are as follows (in thousands): Intangible Assets Gross Carrying Amount Accumulated Amortization 2016 Net Book Value In place leases $ 11,224 $ (5,641 ) $ 5,583 Trade name (indefinite-lived) 10,297 — 10,297 Total $ 21,521 $ (5,641 ) $ 15,880 Intangible Assets Gross Carrying Accumulated 2015 Net Book Value In place leases $ 11,203 $ (5,013 ) $ 6,190 Trade name (indefinite-lived) 10,297 — 10,297 Total $ 21,500 $ (5,013 ) $ 16,487
Estimated Future Amortization Expense of Intangible Assets	The estimated future amortization expense for the Company’s finite-lived intangible assets as of December 31, 2016 is as follows (in thousands): 2017 $ 623 2018 549 2019 547 2020 547 2021 547 Thereafter 2,770 Total $ 5,583

Operating Leases (Tables)

Operating Leases (Tables)	12 Months Ended
	Dec. 31, 2016
Leases [Abstract]
Future Minimum Lease Payments to be Received under Non-Cancellable Operating Leases	The following is a schedule of future minimum lease payments to be received under the non-cancellable operating leases with third-parties at December 31, 2016 (in thousands): 2017 $ 96,305 2018 97,129 2019 97,496 2020 97,829 2021 98,344 Thereafter 686,430 Total $ 1,173,533

Variable Interest and Unconso35

Variable Interest and Unconsolidated Entities (Tables)	12 Months Ended
	Dec. 31, 2016
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Aggregate Carrying Amount and Major Classifications of Consolidated Assets and Liabilities	The aggregate carrying amount and major classifications of the consolidated assets that can be used to settle obligations of the VIEs and liabilities of the consolidated VIEs that are non-recourse to the Company are as follows (in thousands): 7. Variable Interests and Unconsolidated Entities ( continued ): December 31, 2016 2015 Assets Real estate investment properties, net $ 55,941 $ 58,832 Other assets 5,320 6,578 Liabilities Mortgages and other notes payable 18,628 19,503 Other liabilities 1,340 792
Allocation of Purchase Price and Estimated Fair Values of the Assets Acquired and Liabilities Assumed	The following summarizes the allocation of the estimated fair values of the assets acquired and liabilities assumed as of April 1, 2016 (in thousands): Land and land improvements $ 14,208 Buildings and building improvements 74,253 Intangibles (1) 9,449 Cash assumed 11,861 Working capital, net (267 ) Net assets upon acquisitions of 20% non-controlling interest and consolidation $ 109,504 FOOTNOTES: (1) Intangibles were comprised of approximately $13.7 million , $3.1 million and $(7.4) million of in-place lease, above-market lease and below-market lease intangible assets (liabilities), respectively.
Gain from Change in Control in the Equity Method Investment	The following summarizes the gain that resulted from the change of control in the unconsolidated equity method investment for the year ended December 31, 2016 (in thousands): Fair value of new assets upon acquisition of 20% non-controlling interest and consolidation $ 109,504 Less: Investment in unconsolidated entity (79,479 ) Gain on purchase of controlling interest of investment in unconsolidated entity $ 30,025
Summarized Operating Data of Unconsolidated Entities	The following tables present financial information for the Company’s unconsolidated entities for the years ended December 31, 2016 , 2015 and 2014 (in thousands): Summarized operating data: Year Ended December 31, 2016 Intrawest Venture (1) Revenues $ 4,743 Property operating expenses (2,683 ) Depreciation and amortization (784 ) Interest expense and other income (expense) (379 ) Net income $ 897 Loss allocable to other venture partners (3) $ (410 ) (4) Income allocable to the Company (3) $ 1,307 Amortization of capitalized costs (17 ) Equity in earnings on unconsolidated entities $ 1,290 Distribution declared to the Company $ 1,423 Distributions received by the Company $ 1,074 Year Ended December 31, 2015 DMC Partnership (2) Intrawest Venture Total Revenues $ 10,743 $ 18,778 $ 29,521 Property operating expenses (173 ) (11,114 ) (11,287 ) Depreciation and amortization (3,038 ) (4,160 ) (7,198 ) Interest expense and other income (expense) (1,555 ) (1,328 ) (2,883 ) Net income $ 5,977 $ 2,176 $ 8,153 Income (loss) allocable to other venture partners (3) $ 3,477 $ (1,611 ) (4) $ 1,866 Income allocable to the Company (3) $ 2,500 $ 3,787 $ 6,287 Amortization of capitalized costs (25 ) (109 ) (134 ) Equity in earnings on unconsolidated entities $ 2,475 $ 3,678 $ 6,153 Distribution declared to the Company $ 3,698 $ 7,218 $ 10,916 Distributions received by the Company $ 6,558 $ 6,529 $ 13,087 7. Variable Interests and Unconsolidated Entities ( continued ): Year Ended December 31, 2014 DMC Partnership Intrawest Venture Total Revenues $ 28,519 $ 19,856 $ 48,375 Property operating expenses (776 ) (10,744 ) (11,520 ) Depreciation and amortization (9,114 ) (6,005 ) (15,119 ) Interest expense (8,175 ) (5,408 ) (13,583 ) Interest and other income (expense) (35 ) 132 97 Net income (loss) $ 10,419 $ (2,169 ) $ 8,250 Income (loss) allocable to other venture partners (3) $ 1,602 $ (1,612 ) (4) $ (10 ) Income (loss) allocable to the Company (3) $ 8,817 $ (557 ) $ 8,260 Amortization of capitalized costs (298 ) (209 ) (507 ) Equity in earnings (loss) on unconsolidated entities $ 8,519 $ (766 ) $ 7,753 Distribution declared to the Company $ 11,345 $ 2,277 $ 13,622 Distributions received by the Company $ 11,345 $ 2,152 $ 13,497 FOOTNOTES: (1) In April 2016, the Company acquired its co-venture partner's 20% interest in the Intrawest Venture. Amounts presented reflect activity for the period January 1, 2016 through March 31, 2016. (2) On April 29, 2015, the Company completed the sale of its interest in the DMC Partnership as described above. As such, the summarized operating data for the partnership is reported through April 29, 2015. (3) Income was allocated between the Company and its venture partners using the hypothetical liquidation book value (“HLBV”) method of accounting. (4) This amount represents the venture partner’s portion of interest expense on a loan which the partners made to the venture prior to the Company's acquisition of the partner's 20% interest in the Intrawest Venture.
Summarized Balance Sheet Data of Unconsolidated Entities	Summarized balance sheet data As of December 31, 2015 Intrawest Venture (1) Real estate assets, net $ 66,493 Other assets 15,495 Mortgages and other notes payable 11,100 Other liabilities 16,552 Partners’ capital 54,336 Carrying amount of investment (2) 73,434 Company’s ownership percentage (2) 80.0 % FOOTNOTES: (1) As described above, the Company acquired the remaining 20% interest in the Intrawest Venture in April 2016. (2) As of December 31, 2015 , the Company’s share of partners’ capital determined under HLBV was approximately $71.4 million and the total difference between the carrying amount of the investment and the Company’s share of partners’ capital determined under HLBV was approximately $2.0 million .

Indebtedness (Tables)

Indebtedness (Tables)	12 Months Ended
	Dec. 31, 2016
Debt Disclosure [Abstract]
Schedule of Indebtedness	Mortgages and Other Notes Payable - As of December 31, 2016 and 2015 , the Company had the following indebtedness (in thousands): Collateral Approximate Carrying Value at December 31, 2016 Interest Rate Maturity Date Principal Balance as of December 31, 2016 2015 Variable rate debt: Mortgage debt 1 ski and mountain lifestyle property $17.7 million 30-day LIBOR + 3.3% (1)(2) 9/1/2019 $ 7,648 $ 8,037 Mortgage debt 1 attractions property $42.8 million 30-day LIBOR + 3.0% (1) 11/30/2017 15,531 18,156 Mortgage debt 4 ski and mountain lifestyle properties $137.6 million 30-day LIBOR (subject to floor of 1.5%) + 3.5% (1) 10/5/2017 (4) 36,617 37,847 Total variable rate debt $ 59,796 $ 64,040 Fixed rate debt: Mortgage debt 1 attractions lifestyle property — 6.8% (3) $ — (3) $ 18,552 Mortgage debt 6 ski and mountain lifestyle properties $184.7 million 6.1% 10/5/2017 (4) 85,369 90,799 Mortgage debt 3 marina properties — 6.3% - 6.5% (3) — (3) 10,696 Other debt — — (5) 12/1/2020 1,421 1,705 Total fixed rate debt $ 86,790 $ 121,752 Total debt 146,586 185,792 Premium (discount) — (53 ) Unamortized loan costs (335 ) (1,398 ) Total $ 146,251 $ 184,341 FOOTNOTES: (1) The 30-day LIBOR rate was approximately 0.77% and 0.43% as of December 31, 2016 and 2015 , respectively. (2) The Company entered into an interest rate swap for this variable rate debt. See Note 9. “Derivative instruments and Hedging Activities” for additional information. (3) The Company repaid the debt in 2016 . (4) These loans were amended in January 2017 to extend the maturity date to October 5, 2017. See Note 17. "Subsequent Events" for additional information. (5) The $1.4 million loan is non-interest bearing.
Schedule of Future Principal Payments and Maturities for Indebtedness	The following is a schedule of future principal payments and maturities for all indebtedness (in thousands): 2017 $ 138,497 2018 721 2019 7,083 2020 285 2021 — Thereafter — $ 146,586

Derivative Instruments and He37

Derivative Instruments and Hedging Activities (Tables)	12 Months Ended
	Dec. 31, 2016
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Summary of Terms and Fair Values of Derivative Financial Instruments	The following table summarizes the terms and fair values of the Company’s derivative financial instrument (in thousands): Fair Value Liability Notional Amount Strike (1) Credit Spread (1) Trade Date Maturity Date December 31, 2016 2015 $ 7,648 3.6% 3.3% 9/28/2009 9/1/2019 $ (416 ) $ (618 ) FOOTNOTE: (1) The strike rate does not include the credit spread on the notional amount.
Summary of Terms and Fair Values of Derivative Financial Instruments	The following table summarizes the gross and net amounts of the Company’s derivative financial instrument (in thousands): As of December 31, 2016 Notional Amount of Cash Flow Hedges Gross Amounts of Recognized Liabilities Gross Amounts Offset in the Balance Sheet Net Amounts of Liabilities Presented in the Balance Sheet Gross Amounts Not Offset in the Balance Sheets Financial Instruments Cash Collateral Net Amount $ 7,648 $ (416 ) $ — $ (416 ) $ (416 ) $ — $ (416 ) As of December 31, 2015 Notional Gross Gross Net Amounts of Liabilities Presented in the Balance Sheet Gross Amounts Not Offset in the Balance Sheets Financial Instruments Cash Collateral Net Amount $ 8,037 $ (618 ) $ — $ (618 ) $ (618 ) $ — $ (618 )

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	12 Months Ended
	Dec. 31, 2016
Fair Value Disclosures [Abstract]
Financial Assets and Liabilities Carried at Fair Value	The following tables show the Company’s financial assets and liabilities carried at fair value as of December 31, 2016 and 2015 , as follows (in thousands): Fair Value Measurement as of December 31, 2016 Level 1 Level 2 Level 3 Liabilities: Derivative instrument $ 416 $ — $ 416 $ — Fair Value Measurement as of December 31, 2015 Level 1 Level 2 Level 3 Assets: Real estate investment properties, net $ 184,061 $ — $ — $ 184,061 Assets held for sale, net 40,588 — — 40,588 224,649 — — 224,649 Liabilities: Derivative instrument $ 618 $ — $ 618 $ —

Income Taxes (Tables)

Income Taxes (Tables)	12 Months Ended
	Dec. 31, 2016
Income Tax Disclosure [Abstract]
Components of Deferred Taxes	The components of the deferred taxes recognized in the accompanying consolidated balance sheets at December 31, 2016 and 2015 are as follows (in thousands): Year Ended December 31, 2016 2015 Net operating losses $ 109,236 $ 107,655 Book/tax differences in deferred income 4,657 5,302 Book/tax differences in acquired assets (39,054 ) (36,732 ) Total deferred tax asset 74,839 76,225 Valuation allowance (74,839 ) (76,225 ) $ — $ —

Related Party Arrangements (Tab

Related Party Arrangements (Tables)	12 Months Ended
	Dec. 31, 2016
Related Party Transactions [Abstract]
Earned Acquisition Fees and Incurred Reimbursable Expenses	For the years ended December 31, 2016 , 2015 and 2014 , the Advisor collectively earned fees and incurred reimbursable expenses as follows (in thousands): Year Ended December 31, 2016 2015 2014 Acquisition fees: Acquisition fees from offering proceeds (1) $ — $ — $ 319 Acquisition fees from debt proceeds (2) — — 1,521 Total — — 1,840 Asset management fees (3) 12,137 19,726 29,863 Reimbursable expenses: (4) Acquisition costs (5) — — 248 Operating expenses (6) 5,267 5,451 6,680 Total 5,267 5,451 6,928 Total fees earned and reimbursable expenses $ 17,404 $ 25,177 $ 38,631 FOOTNOTES: (1) Prior to April 1, 2014, acquisition fees were paid for services in connection with the selection, purchase, development or construction of real property. The fees were generally equal to 3.0% of gross offering proceeds from the sale of the Company’s common stock including proceeds from shares sold under its distribution reinvestment plan (“DRP”). Effective April 1, 2014, the Advisor eliminated this fee. These amounts are recorded as acquisition fees and costs in the accompanying consolidated statements of operations. 12. Related Party Arrangements ( continued ): (2) Prior to April 1, 2014, acquisition fees from debt proceeds were paid for services in connection with the incurrence of indebtedness, including the Company’s pro-rata share of joint venture indebtedness. The fees were generally equal to 3.0% of loan proceeds. Effective April 1, 2014, the Advisor eliminated this fee. These amounts are recorded as loan costs and are included as part of other assets in the accompanying consolidated balance sheets. (3) Amounts recorded as asset management fees to Advisor include fees of $0.2 million , $4.1 million and $11.2 million for the years ended December 31, 2016 , 2015 and 2014 , respectively, related to properties that are classified as assets held for sale that are included as discontinued operations in the accompanying consolidated statements of operations. Effective April 1, 2014, the asset management fees to Advisor were reduced as described above. (4) The Advisor and its affiliates are entitled to reimbursement of certain expenses incurred on behalf of the Company in connection with the Company’s organization, offering, acquisitions, and operating activities. Pursuant to the advisory agreement, the Company will not reimburse the Advisor for any amount by which total operating expenses paid or incurred by the Company exceed the greater of 2.0% of average invested assets or 25.0% of net income (the “Expense Cap”) in any expense year, as defined in the advisory agreement. For the expense years ended December 31, 2016 , 2015 and 2014 , operating expenses did not exceed the Expense Cap. Amounts representing acquisition costs are recorded as part of acquisition fees and costs in the accompanying consolidated statements of operations. Amounts representing operating expenses are recorded as part of general and administrative expenses in the accompanying consolidated statements of operations. (5) Includes approximately $0.04 million for reimbursable expenses to the Advisor for services provided to the Company for its executive officers during the year ended December 31, 2014 . The reimbursable expenses include components of salaries, benefits and other overhead charges. There were no such expenses recorded in acquisition costs during the years ended December 31, 2016 and 2015 . (6) Includes approximately $0.3 million , $0.4 million and $0.4 million for reimbursable expenses to the Advisor for services provided to the Company for its executive officers during the years ended December 31, 2016 , 2015 and 2014 , respectively. The reimbursable expenses include components of salaries, benefits and other overhead charges.
Amounts Due to Affiliates for Fees and Expense	Amounts due to affiliates for fees and expenses described above are as follows (in thousands): As of December 31, 2016 2015 Due to the Advisor and its affiliates: Operating expenses $ 475 $ 420

Stockholders' Equity (Tables)

Stockholders' Equity (Tables)	12 Months Ended
	Dec. 31, 2016
Equity [Abstract]
Tax Composition of Distributions Declared	The tax composition of distributions declared for years ended December 31, 2016 , 2015 and 2014 were as follows: December 31, Distribution Type 2016 2015 2014 Taxable as ordinary income 1.2 % 28.0 % — % Taxable as qualified dividends 0.2 % — % — % Taxable as capital gain — % 18.3 % — % Return of capital 98.6 % 53.7 % 100.0 %

Commitments and Contingencies (

Commitments and Contingencies (Tables)	12 Months Ended
	Dec. 31, 2016
Commitments and Contingencies Disclosure [Abstract]
Schedule of Future Obligations under Ground Leases and Land Permits	The following is a schedule of future obligations under ground leases and land permits (in thousands): 2017 $ 11,646 2018 11,638 2019 11,594 2020 11,594 2021 11,594 Thereafter 115,637 Total $ 173,703

Selected Quarterly Financial 43

Selected Quarterly Financial Data (Unaudited) (Tables)	12 Months Ended
	Dec. 31, 2016
Quarterly Financial Data [Abstract]
Quarterly Financial Data	Selected Quarterly Financial Data (Unaudited): 2016 Quarters First Second Third Fourth Full Year Total revenues $ 41,781 $ 63,556 $ 96,382 $ 39,396 $ 241,115 Operating income (loss) 2,401 4,323 26,580 (264 ) 33,040 Equity in earnings of unconsolidated entities 1,290 — — — 1,290 Gain on purchase of controlling interest of investment in unconsolidated entity — 30,025 — — 30,025 Income tax provision — — (3,070 ) 4,424 1,354 Income (loss) from continuing operations 1,177 32,188 20,701 2,046 56,112 Discontinued operations (1) (523 ) 9,964 — 250 9,691 Gain on sale of real estate — 911 — (766 ) 145 Gain from sale of unconsolidated entities — — — — — Net income (loss) $ 654 $ 43,063 $ 20,701 $ 1,530 $ 65,948 Weighted average number of shares outstanding (basic and diluted) 325,183 325,183 325,183 325,183 325,183 Earnings (loss) per share of common stock (basic and diluted) $ — $ 0.13 $ 0.06 $ 0.01 $ 0.20 2015 Quarters First Second Third Fourth Full Year Total revenues $ 71,992 $ 85,659 $ 127,600 $ 52,414 $ 337,665 Operating income (loss) (7,767 ) (7,964 ) 35,751 (131,195 ) (111,175 ) Equity in earnings (loss) of unconsolidated entities 3,561 (783 ) 1,162 2,213 6,153 Income tax provision — (666 ) (8,449 ) (663 ) (9,778 ) Income (loss) from continuing operations (15,267 ) (39,149 ) 25,571 (131,779 ) (160,624 ) Discontinued operations (1) 7,052 199,720 7,614 (9,715 ) 204,671 Gain (loss) on sale of real estate — 27,337 (1,064 ) 20,321 46,594 Gain from sale of unconsolidated entity — 39,252 — — 39,252 Net income (loss) $ (8,215 ) $ 227,160 $ 32,121 $ (121,173 ) $ 129,893 Weighted average number of shares outstanding (basic and diluted) 325,183 325,183 325,183 325,183 325,183 Earnings (loss) per share of common stock (basic and diluted) $ (0.03 ) $ 0.70 $ 0.10 $ (0.37 ) $ 0.40 FOOTNOTE: (1) The Company classified certain properties as assets held for sale and reclassified the results related to those properties which met the criteria of discontinued operations under ASU 2014-08 as discontinued operations for all periods presented.

Business and Organization - Add

Business and Organization - Additional Information (Detail) $ in Millions	12 Months Ended	36 Months Ended
	Dec. 31, 2016Property	Dec. 31, 2016Property	Nov. 30, 2016USD ($)Property
Assets Held-for-sale
Organization And Nature Of Business [Line Items]
Consideration for properties held for sale | $			$ 830
Ski and Mountain Lifestyle Properties | Assets Held-for-sale
Organization And Nature Of Business [Line Items]
Number of properties held for sale	36	36	36
Golf Facilities
Organization And Nature Of Business [Line Items]
Number of properties sold		118
Minimum
Organization And Nature Of Business [Line Items]
Long-term lease	5 years
Maximum
Organization And Nature Of Business [Line Items]
Long-term lease	20 years

Summary of Significant Accoun45

Summary of Significant Accounting Policies - Additional Information (Detail)	3 Months Ended								6 Months Ended	9 Months Ended	12 Months Ended
	Dec. 31, 2016USD ($)PropertyTenant	Sep. 30, 2016USD ($)	Jun. 30, 2016USD ($)	Mar. 31, 2016USD ($)	Dec. 31, 2015USD ($)	Sep. 30, 2015USD ($)	Jun. 30, 2015USD ($)	Mar. 31, 2015USD ($)	Jun. 30, 2015USD ($)	Sep. 30, 2015USD ($)	Dec. 31, 2016USD ($)	Dec. 31, 2015USD ($)	Dec. 31, 2014USD ($)
Accounting Policies [Line Items]
Accumulated amortization of long-term debt financing costs	$ 5,100,000				$ 6,900,000						$ 5,100,000	$ 6,900,000
Number of tenants paying entity leasehold income potentially taxable under tax rules | Tenant	5
Number of properties treated as foreclosure properties | Property	2
Income tax expense	$ (4,424,000)	$ 3,070,000	$ 0	$ 0	663,000	$ 8,449,000	$ 666,000	$ 0	$ 666,000	$ 9,115,000	(1,354,000)	9,778,000	$ 0
Property operating expenses					27,586,000	56,531,000	52,296,000	37,698,000	89,994,000	146,525,000	$ 80,881,000	174,111,000	$ 190,165,000
Adjustment | 2015 Insurance Reserve
Accounting Policies [Line Items]
Income tax expense					663,000	8,449,000	666,000	0	666,000	9,115,000		9,778,000
Property operating expenses					$ 274,000	$ 275,000	$ 275,000	$ 660,000	$ 935,000	$ 1,210,000		$ 1,484,000
Minimum
Accounting Policies [Line Items]
Percentage of taxable income and capital gains required to be distributed not to be subjected to federal corporate income taxes											100.00%
Building and Building Improvements | Maximum
Accounting Policies [Line Items]
Depreciation period for property											39 years

Summary of Significant Accoun46

Summary of Significant Accounting Policies - Revision of Previously Issued Balance Sheet (Details) - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Accounts payable and accrued expenses	$ 12,591	$ 12,845
Income tax liabilities	8,424	9,778
Total Liabilities	192,093	234,544
Accumulated deficit	(298,288)	(364,236)
Total Stockholders' Equity	$ 650,329	794,917	$ 1,157,390	$ 1,368,378
As Reported
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Accounts payable and accrued expenses		11,361
Income tax liabilities		0
Total Liabilities		223,282
Accumulated deficit		(352,974)
Total Stockholders' Equity		806,179
2015 Insurance Reserve | Adjustment
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Accounts payable and accrued expenses		1,484
Income tax liabilities		9,778
Total Liabilities		11,262
Accumulated deficit		(11,262)
Total Stockholders' Equity		$ (11,262)

Summary of Significant Accoun47

Summary of Significant Accounting Policies - Revision of Previously Issued Income Statement (Details) - USD ($)	3 Months Ended								6 Months Ended	9 Months Ended	12 Months Ended
	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Jun. 30, 2015	Sep. 30, 2015	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Expenses:
Property operating expenses					$ 27,586,000	$ 56,531,000	$ 52,296,000	$ 37,698,000	$ 89,994,000	$ 146,525,000	$ 80,881,000	$ 174,111,000	$ 190,165,000
Other income (expense):
Income tax benefit (expense)	$ 4,424,000	$ (3,070,000)	$ 0	$ 0	(663,000)	(8,449,000)	(666,000)	0	(666,000)	(9,115,000)	1,354,000	(9,778,000)	0
Income (loss) from continuing operations	2,046,000	20,701,000	32,188,000	1,177,000	(131,779,000)	25,571,000	(39,149,000)	(15,267,000)	(54,416,000)	(29,100,000)	56,112,000	(160,624,000)	(60,438,000)
Net income (loss) before gain on sale of real estate and unconsolidated entity					(141,239,000)	33,185,000	160,571,000		152,356,000	185,286,000	65,803,000	44,047,000	(92,144,000)
Net income (loss)	$ 1,530,000	$ 20,701,000	$ 43,063,000	$ 654,000	$ (121,173,000)	$ 32,121,000	$ 227,160,000	$ (8,215,000)	$ 218,945,000	$ 251,066,000	$ 65,948,000	$ 129,893,000	$ (92,144,000)
Net income (loss) per share of common stock (basic and diluted)
Continuing operations (in dollars per shares)					$ (0.34)	$ 0.08	$ 0.09	$ (0.05)	$ 0.03	$ 0.11	$ 0.17	$ (0.23)	$ (0.18)
Net income (loss) per share (in dollars per shares)	$ 0.01	$ 0.06	$ 0.13	$ 0	$ (0.37)	$ 0.10	$ 0.70	$ (0.03)	$ 0.67	$ 0.77	$ 0.20	$ 0.40	$ (0.28)
As Reported
Expenses:
Property operating expenses					$ 27,312,000	$ 56,256,000	$ 52,021,000	$ 37,038,000	$ 89,059,000	$ 145,315,000		$ 172,627,000
Other income (expense):
Income tax benefit (expense)					0	0	0		0	0		0
Income (loss) from continuing operations					(130,842,000)	34,295,000	(38,208,000)	(14,607,000)	(52,815,000)	(18,775,000)		(149,362,000)
Net income (loss) before gain on sale of real estate and unconsolidated entity					(140,302,000)	41,909,000	161,512,000		153,957,000	195,611,000		55,309,000
Net income (loss)					$ (120,236,000)	$ 40,845,000	$ 228,101,000	$ (7,555,000)	$ 220,546,000	$ 261,391,000		$ 141,155,000
Net income (loss) per share of common stock (basic and diluted)
Continuing operations (in dollars per shares)					$ (0.34)	$ 0.11	$ 0.09	$ (0.04)	$ 0.04	$ 0.14		$ (0.20)
Net income (loss) per share (in dollars per shares)					$ (0.37)	$ 0.13	$ 0.70	$ (0.02)	$ 0.68	$ 0.80		$ 0.43
2015 Insurance Reserve | Adjustment
Expenses:
Property operating expenses					$ 274,000	$ 275,000	$ 275,000	$ 660,000	$ 935,000	$ 1,210,000		$ 1,484,000
Other income (expense):
Income tax benefit (expense)					(663,000)	(8,449,000)	(666,000)	0	(666,000)	(9,115,000)		(9,778,000)
Income (loss) from continuing operations					(937,000)	(8,724,000)	(941,000)	(660,000)	(1,601,000)	(10,325,000)		(11,262,000)
Net income (loss) before gain on sale of real estate and unconsolidated entity					(937,000)	(8,724,000)	(941,000)		(1,601,000)	(10,325,000)		(11,262,000)
Net income (loss)					$ (937,000)	$ (8,724,000)	$ (941,000)	$ (660,000)	$ (1,601,000)	$ (10,325,000)		$ (11,262,000)
Net income (loss) per share of common stock (basic and diluted)
Continuing operations (in dollars per shares)					$ 0	$ (0.03)	$ 0	$ (0.01)	$ (0.01)	$ (0.03)		$ (0.03)
Net income (loss) per share (in dollars per shares)					$ 0	$ (0.03)	$ 0	$ (0.01)	$ (0.01)	$ (0.03)		$ (0.03)

Summary of Significant Accoun48

Summary of Significant Accounting Policies - Revision of Previously Issued Comprehensive Income Statement (Details) - USD ($) $ in Thousands	3 Months Ended								6 Months Ended	9 Months Ended	12 Months Ended
	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Jun. 30, 2015	Sep. 30, 2015	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Net income (loss)	$ 1,530	$ 20,701	$ 43,063	$ 654	$ (121,173)	$ 32,121	$ 227,160	$ (8,215)	$ 218,945	$ 251,066	$ 65,948	$ 129,893	$ (92,144)
Net comprehensive income						29,814	228,110	(3,108)	217,447	247,261	$ 66,781	125,307	$ (90,708)
As Reported
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Net income (loss)					(120,236)	40,845	228,101	(7,555)	220,546	261,391		141,155
Net comprehensive income						38,538	229,051	(2,448)	219,048	257,586		136,569
2015 Insurance Reserve | Adjustment
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Net income (loss)					$ (937)	(8,724)	(941)	(660)	(1,601)	(10,325)		(11,262)
Net comprehensive income						$ (8,724)	$ (941)	$ (660)	$ (1,601)	$ (10,325)		$ (11,262)

Summary of Significant Accoun49

Summary of Significant Accounting Policies - Additional Details of Adjustments to Financial Statements (Details) - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2015
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Other assets	$ 15,363	$ 16,778
Mortgages and other notes payable	$ 146,251	184,341
ASU 2015-03
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Other assets		16,778
Mortgages and other notes payable		184,341
As Reported | ASU 2015-03
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Other assets		18,176
Mortgages and other notes payable		185,739
Adjustments | ASU 2015-03
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Other assets		(1,398)
Mortgages and other notes payable		$ (1,398)

Real Estate Investment Proper50

Real Estate Investment Properties, net - Schedule of Real Estate Investment Properties (Detail) - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2015
Real Estate Properties [Line Items]
Less: accumulated depreciation and amortization	$ (642,623)	$ (580,590)
Total	678,041	712,589
Land and land improvements
Real Estate Properties [Line Items]
Real estate investment properties, gross	377,684	369,902
Leasehold interests and improvements
Real Estate Properties [Line Items]
Real estate investment properties, gross	170,962	170,970
Building and Building Improvements
Real Estate Properties [Line Items]
Real estate investment properties, gross	249,824	245,372
Equipment
Real Estate Properties [Line Items]
Real estate investment properties, gross	$ 522,194	$ 506,935

Real Estate Investment Proper51

Real Estate Investment Properties, net - Additional Information (Detail)	12 Months Ended
	Dec. 31, 2016USD ($)Property	Dec. 31, 2015USD ($)PropertyTenant	Dec. 31, 2014USD ($)	Nov. 30, 2016Property
Real Estate Properties [Line Items]
Depreciation and amortization expenses	$ 66,792,000	$ 83,481,000	$ 98,664,000
Impairment provisions	8,142,000	$ 124,873,000	30,428,000
Attractions Properties
Real Estate Properties [Line Items]
Number of tenants | Tenant		1
Number of real estate properties | Property		3
Impairment provisions		$ 123,100,000
Ski and Mountain Lifestyle Properties
Real Estate Properties [Line Items]
Impairment provisions	$ 8,100,000
Ski and Mountain Lifestyle Properties | Assets Held-for-sale
Real Estate Properties [Line Items]
Number of properties held for sale | Property	36			36
Real Estate investment properties, net
Real Estate Properties [Line Items]
Impairment provisions			0
Continuing Operations
Real Estate Properties [Line Items]
Depreciation and amortization expenses	$ 66,200,000	$ 82,800,000	$ 98,000,000

Assets Held for Sale, Net and52

Assets Held for Sale, Net and Discontinued Operations - Additional Information (Detail)

1 Months Ended

3 Months Ended

6 Months Ended

9 Months Ended

12 Months Ended

24 Months Ended

Nov. 30, 2016Property

Oct. 31, 2016USD ($)Property

Dec. 31, 2016USD ($)

Sep. 30, 2016USD ($)

Jun. 30, 2016USD ($)

Mar. 31, 2016USD ($)

Dec. 31, 2015USD ($)Property

Sep. 30, 2015USD ($)

Jun. 30, 2015USD ($)

Mar. 31, 2015USD ($)

Jun. 30, 2015USD ($)

Sep. 30, 2015USD ($)

Dec. 31, 2016USD ($)Property

Dec. 31, 2015USD ($)Property

Dec. 31, 2014USD ($)Property

Dec. 31, 2016Property

Apr. 01, 2016Property

Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]

Number of properties held for sale | Property

6

6

Net proceeds from sale of real estate investments

$ 148,319,000

$ 992,738,000

$ 384,293,000

Sale of properties, outstanding principal indebtedness assumed

39,206,000

529,893,000

365,224,000

Net income (Loss) from continuing operations

$ 1,530,000

$ 20,701,000

$ 43,063,000

$ 654,000

$ (121,173,000)

$ 32,121,000

$ 227,160,000

$ (8,215,000)

$ 218,945,000

$ 251,066,000

65,948,000

129,893,000

(92,144,000)

Impairment provisions

8,142,000

$ 124,873,000

30,428,000

Intrawest Venture

Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]

Percentage of ownership interest acquired

20.00%

Percentage of ownership by parent

100.00%

Ski and Mountain Lifestyle Properties

Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]

Number of properties held for sale | Property

7

Number of properties sold | Property

1

Ski and Mountain Lifestyle Properties | Intrawest Venture

Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]

Number of real estate properties acquired | Property

7

Ski and Mountain Lifestyle Properties | Continuing Operations

Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]

Gain or loss on sale of properties

$ 100,000

$ 46,600,000

Unimproved Land

Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]

Impairment provisions

1,800,000

30,400,000

Senior Housing Property

Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]

Disposition fee

0

Sale of properties, outstanding principal indebtedness assumed

$ 151,500,000

Disposal Group, Disposed of by Sale, Including Discontinued Operations

Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]

Number of properties sold | Property

55

Gain or loss on sale of properties

$ 246,800,000

Disposal Group, Disposed of by Sale, Including Discontinued Operations | Senior Housing Property

Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]

Net proceeds from sale of real estate investments

$ 992,700,000

Discontinued Operations, Disposed of by Sale

Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]

Net proceeds from sale of real estate investments

384,300,000

Gain or loss on sale of properties

4,100,000

Impairment provisions

$ 4,500,000

Discontinued Operations, Disposed of by Sale | Marinas Property

Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]

Number of properties sold | Property

5

12

Gain or loss on sale of properties

$ 200,200,000

Discontinued Operations, Disposed of by Sale | Golf Properties

Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]

Number of properties sold | Property

48

Discontinued Operations, Disposed of by Sale | Senior Housing Property

Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]

Number of properties sold | Property

38

Discontinued Operations, Disposed of by Sale | Multi Family Residential

Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]

Number of properties sold | Property

1

Disposal Group, Disposed of by Sale, Not Discontinued Operations

Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]

Number of properties sold | Property

36

Net gain from sale of real estate

$ 10,600,000

Disposal Group, Disposed of by Sale, Not Discontinued Operations | Attractions properties

Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]

Number of properties sold | Property

4

Gain or loss on sale of properties

$ 46,600,000

Disposal Group, Disposed of by Sale, Not Discontinued Operations | Continuing Operations

Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]

Net gain from sale of real estate

900,000

Disposal Group, Disposed of by Sale, Not Discontinued Operations | Discontinued Operations

Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]

Net gain from sale of real estate

$ 9,700,000

Disposal Group, Disposed of by Sale, Not Discontinued Operations | Marinas Property

Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]

Number of properties sold | Property

5

Net proceeds from sale of real estate investments

$ 50,400,000

Disposition fee

$ 0

Disposal Group, Disposed of by Sale, Not Discontinued Operations | Unimproved land

Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]

Number of properties sold | Property

1

Disposal Group, Disposed of by Sale, Not Discontinued Operations | Ski and Mountain Lifestyle Properties

Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]

Number of properties sold | Property

7

1

Net proceeds from sale of real estate investments

$ 97,900,000

Net gain from sale of real estate

(800,000)

Disposition fee

$ 0

Assets Held-for-sale

Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]

Number of properties held for sale | Property

6

6

Assets Held-for-sale | Ski and Mountain Lifestyle Properties

Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]

Net income (Loss) from continuing operations

$ 19,800,000

$ (1,200,000)

Assets Held-for-sale | Ski and Mountain Lifestyle Properties | Operating Income (Loss)

Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]

Gain or loss on sale of properties

13,500,000

Discontinued Operations, Held-for-sale

Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]

Net gain from sale of real estate

$ 9,687,000

200,243,000

4,144,000

Impairment provisions related to real state properties

$ 0

7,749,000

37,867,000

Discontinued Operations, Held-for-sale | Marinas Property

Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]

Number of properties sold | Property

17

Impairment provisions related to real state properties

$ 7,700,000

$ 33,400,000

Assets Held for Sale, Net and53

Assets Held for Sale, Net and Discontinued Operations - Properties Classified as Assets Held for Sale (Detail) - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2015
Long Lived Assets Held-for-sale [Line Items]
Assets held for sale, net	$ 0	$ 42,719
Land and land improvements
Long Lived Assets Held-for-sale [Line Items]
Assets held for sale, net		5,673
Leasehold interests and improvements
Long Lived Assets Held-for-sale [Line Items]
Assets held for sale, net		27,184
Building and Building Improvements
Long Lived Assets Held-for-sale [Line Items]
Assets held for sale, net		6,352
Equipment
Long Lived Assets Held-for-sale [Line Items]
Assets held for sale, net		1,378
Other Assets
Long Lived Assets Held-for-sale [Line Items]
Assets held for sale, net		25
Restricted cash
Long Lived Assets Held-for-sale [Line Items]
Assets held for sale, net		1,408
Accounts and other receivables, net
Long Lived Assets Held-for-sale [Line Items]
Assets held for sale, net		$ 699

Assets Held for Sale, Net and54

Assets Held for Sale, Net and Discontinued Operations - Summary of Loss from Discontinued Operations (Detail)	12 Months Ended
	Dec. 31, 2016USD ($)	Dec. 31, 2015USD ($)Property	Dec. 31, 2014USD ($)
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Income (loss) from discontinued operations	$ 9,691,000	$ 204,671,000	$ (31,706,000)
Amortization of loss and loss on termination of cash flow hedges	0	0	3,000,000
Discontinued Operations, Held-for-sale
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Revenues	3,838,000	65,796,000	178,887,000
Expenses	(3,189,000)	(49,251,000)	(115,773,000)
Depreciation and amortization	0	0	(36,709,000)
Impairment provision	0	(7,749,000)	(37,867,000)
Operating income (loss)	649,000	8,796,000	(11,462,000)
Net gain from sale of real estate	9,687,000	200,243,000	4,144,000
Loss on extinguishment of debt	(308,000)	(2,042,000)	(4,818,000)
Gain on insurance and retirements	(412,000)	2,816,000	4,791,000
Other income (expense)	75,000	(5,142,000)	(24,361,000)
Income (loss) from discontinued operations	$ 9,691,000	$ 204,671,000	$ (31,706,000)
Senior Housing Property | Discontinued Operations, Disposed of by Sale
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Number of properties sold | Property		38

Intangible Assets, net - Gross

Intangible Assets, net - Gross Carrying Amount and Accumulated Amortization of Intangible Assets (Detail) - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2015
Finite-Lived Intangible Assets
Accumulated Amortization	$ (5,641)	$ (5,013)
Total	5,583
Intangible Assets
Gross Carrying Amount	21,521	21,500
Net Book Value	15,880	16,487
In place leases
Finite-Lived Intangible Assets
Gross Carrying Amount	11,224	11,203
Accumulated Amortization	(5,641)	(5,013)
Total	5,583	6,190
Trade name (infinite-lived)
Indefinite-Lived Intangible Assets
Indefinite-lived intangible assets	$ 10,297	$ 10,297

Intangible Assets, net - Additi

Intangible Assets, net - Additional Information (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Finite-Lived Intangible Assets [Line Items]
Amortization of intangible assets	$ 0.6	$ 0.7	$ 0.7
Lease termination
Finite-Lived Intangible Assets [Line Items]
Write off lease intangibles related to lease terminations	$ 0	$ 0.8	$ 0

Intangible Assets, net - Estima

Intangible Assets, net - Estimated Future Amortization Expense of Intangible Assets (Detail) $ in Thousands	Dec. 31, 2016USD ($)
Goodwill and Intangible Assets Disclosure [Abstract]
2,017	$ 623
2,018	549
2,019	547
2,020	547
2,021	547
Thereafter	2,770
Total	$ 5,583

Operating Leases - Additional I

Operating Leases - Additional Information (Detail) $ in Millions	12 Months Ended
	Dec. 31, 2016USD ($)Leases	Dec. 31, 2015USD ($)	Dec. 31, 2014USD ($)
Schedule of Operating Leases [Line Items]
Triple-net lease, capital improvement reserve rent	$ 23.9	$ 21.9	$ 23.9
Triple-net lease, total percentage rent	5.5	3.3	2.9
Total annualized property taxes	$ 5.4	$ 6.4	$ 8.6
Long-Term Triple Net Lease Agreements
Schedule of Operating Leases [Line Items]
Properties leased under long-term, triple-net leases to third-parties | Leases	24

Operating Leases - Schedule of

Operating Leases - Schedule of Future Minimum Lease Payments (Detail) $ in Thousands	Dec. 31, 2016USD ($)
Leases [Abstract]
2,017	$ 96,305
2,018	97,129
2,019	97,496
2,020	97,829
2,021	98,344
Thereafter	686,430
Total	$ 1,173,533

Variable Interest and Unconso60

Variable Interest and Unconsolidated Entities - Additional Information (Detail)	Apr. 01, 2016USD ($)Property	Nov. 30, 2016Property	Oct. 31, 2016USD ($)Property	Apr. 30, 2016USD ($)	Apr. 30, 2015USD ($)	Dec. 31, 2016USD ($)	Sep. 30, 2016USD ($)	Jun. 30, 2016USD ($)	Mar. 31, 2016USD ($)	Dec. 31, 2016USD ($)OptionEntity	Dec. 31, 2015USD ($)PropertyLoanEntity	Dec. 31, 2014USD ($)
Variable Interest Entity [Line Items]
Number of wholly-owned subsidiaries | Entity										3	3
Number of buy out options exercisable | Option										3
Maximum exposure to loss on investment						$ 41,300,000				$ 41,300,000	$ 45,100,000
Investments in unconsolidated entities						0				0	73,434,000
Investment in unconsolidated entity	$ 79,479,000										$ 73,400,000
Number of properties held for sale | Property											6
Contribution to unconsolidated entity				$ 5,800,000
Payment of mortgage loan										39,206,000	$ 529,893,000	$ 365,224,000
Gain on purchase of controlling interest in unconsolidated entity	$ 30,000,000					$ 0	$ 0	$ 30,025,000	$ 0	30,025,000	$ 0	0
Number of mortgage loans repaid | Loan											2
Disposal Group, Disposed of by Sale, Not Discontinued Operations
Variable Interest Entity [Line Items]
Number of properties sold | Property		36
Net gain from sale of real estate										10,600,000
Subsidiaries
Variable Interest Entity [Line Items]
Payment of mortgage loan				$ 5,800,000
Intrawest Venture
Variable Interest Entity [Line Items]
Payment of mortgage loan											$ 54,600,000
Intrawest Venture | Majority-Owned Subsidiary, Unconsolidated
Variable Interest Entity [Line Items]
Payment of mortgage loan											$ 54,600,000
Ski and Mountain Lifestyle Properties
Variable Interest Entity [Line Items]
Number of properties held for sale | Property	7
Number of properties sold | Property											1
Ski and Mountain Lifestyle Properties | Disposal Group, Disposed of by Sale, Not Discontinued Operations
Variable Interest Entity [Line Items]
Disposition fee			$ 0
Number of properties sold | Property			7								1
Net gain from sale of real estate			$ (800,000)
Intrawest Venture
Variable Interest Entity [Line Items]
Percentage of ownership interest acquired	20.00%
Revenues										9,400,000
Operating income (loss)										$ 3,700,000
Senior Housing Property
Variable Interest Entity [Line Items]
Disposition fee					$ 0
DMC Partnership | Majority-Owned Subsidiary, Unconsolidated
Variable Interest Entity [Line Items]
Investments in unconsolidated entities												$ 104,400,000
Company's ownership percentage sold					81.98%
Proceed from sale of interest in joint venture					$ 139,500,000
Gain on Disposal of Discontinued Operations					$ 39,300,000
Intrawest Venture
Variable Interest Entity [Line Items]
Investments in unconsolidated entities											$ 73,434,000
Ownership interest											80.00%
Minimum
Variable Interest Entity [Line Items]
Remaining three buy-out options expiration year										2,030
Maximum
Variable Interest Entity [Line Items]
Remaining three buy-out options expiration year										2,032

Variable Interest and Unconso61

Variable Interest and Unconsolidated Entities - Aggregate Carrying Amount and Major Classifications of Consolidated Assets and Liabilities (Detail) - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2015
Assets
Real estate investment properties, net	$ 55,941	$ 58,832
Other assets	5,320	6,578
Liabilities
Mortgages and other notes payable	18,628	19,503
Other liabilities	$ 1,340	$ 792

Variable Interest and Unconso62

Variable Interest and Unconsolidated Entities - Allocation of the Estimated Fair Values of Assets Acquired and Liabilities Assumed (Details) $ in Thousands	Apr. 01, 2016USD ($)
Business Acquisition [Line Items]
Net assets upon acquisitions of 20% non-controlling interest and consolidation	$ 109,504
Intrawest Venture
Business Acquisition [Line Items]
Land and land improvements	14,208
Buildings and building improvements	74,253
Intangibles	9,449
Cash assumed	11,861
Working capital, net	(267)
Net assets upon acquisitions of 20% non-controlling interest and consolidation	109,504
Below market leases acquired	$ (7,400)
Percentage of ownership interest acquired	20.00%
Lease termination | Intrawest Venture
Business Acquisition [Line Items]
Intangibles	$ 13,700
Above Market Leases [Member] | Intrawest Venture
Business Acquisition [Line Items]
Intangibles	$ 3,100

Variable Interest and Unconso63

Variable Interest and Unconsolidated Entities - Gain from Change of Control in the Equity Method Investment (Details) - USD ($) $ in Thousands	Apr. 01, 2016	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Schedule of Equity Method Investments [Line Items]
Fair value of new assets upon acquisition of 20% non-controlling interest and consolidation	$ 109,504
Less: Investment in unconsolidated entity	(79,479)						$ (73,400)
Gain on purchase of controlling interest in unconsolidated entity	30,000	$ 0	$ 0	$ 30,025	$ 0	$ 30,025	$ 0	$ 0
Intrawest Venture
Schedule of Equity Method Investments [Line Items]
Fair value of new assets upon acquisition of 20% non-controlling interest and consolidation	$ 109,504
Percentage of ownership interest acquired	20.00%

Variable Interest and Unconso64

Variable Interest and Unconsolidated Entities - Summary of Financial Information of Unconsolidated Entities (Detail) - USD ($) $ in Thousands	3 Months Ended								6 Months Ended	9 Months Ended	12 Months Ended
	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Jun. 30, 2015	Sep. 30, 2015	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014	Apr. 01, 2016
Schedule of Unconsolidated Entities [Line Items]
Revenues	$ 39,396	$ 96,382	$ 63,556	$ 41,781	$ 52,414	$ 127,600	$ 85,659	$ 71,992			$ 241,115	$ 337,665	$ 373,295
Property operating expenses					(27,586)	(56,531)	(52,296)	(37,698)	$ (89,994)	$ (146,525)	(80,881)	(174,111)	(190,165)
Depreciation and amortization											(66,792)	(83,481)	(98,664)
Equity in earnings (loss) on unconsolidated entities	$ 0	$ 0	$ 0	$ 1,290	$ 2,213	$ 1,162	$ (783)	$ 3,561			1,290	6,153	7,753
Intrawest Venture
Schedule of Unconsolidated Entities [Line Items]
Percentage of ownership interest acquired														20.00%
DMC Partnership
Schedule of Unconsolidated Entities [Line Items]
Revenues												10,743	28,519
Property operating expenses												(173)	(776)
Depreciation and amortization												(3,038)	(9,114)
Interest expense													(8,175)
Interest expense and other income (expense)												(1,555)	(35)
Net income (loss)												5,977	10,419
Income (loss) allocable to other venture partners												3,477	1,602
Income (loss) allocable to the Company												2,500	8,817
Amortization of capitalized costs												(25)	(298)
Equity in earnings (loss) on unconsolidated entities												2,475	8,519
Distribution declared to the Company												3,698	11,345
Distributions received by the Company												6,558	11,345
Intrawest Venture
Schedule of Unconsolidated Entities [Line Items]
Revenues											4,743	18,778	19,856
Property operating expenses											(2,683)	(11,114)	(10,744)
Depreciation and amortization											(784)	(4,160)	(6,005)
Interest expense													(5,408)
Interest expense and other income (expense)											(379)	(1,328)	132
Net income (loss)											897	2,176	(2,169)
Income (loss) allocable to other venture partners											(410)	(1,611)	(1,612)
Income (loss) allocable to the Company											1,307	3,787	(557)
Amortization of capitalized costs											(17)	(109)	(209)
Equity in earnings (loss) on unconsolidated entities											1,290	3,678	(766)
Distribution declared to the Company											1,423	7,218	2,277
Distributions received by the Company											$ 1,074	6,529	2,152
Total
Schedule of Unconsolidated Entities [Line Items]
Revenues												29,521	48,375
Property operating expenses												(11,287)	(11,520)
Depreciation and amortization												(7,198)	(15,119)
Interest expense													(13,583)
Interest expense and other income (expense)												(2,883)	97
Net income (loss)												8,153	8,250
Income (loss) allocable to other venture partners												1,866	(10)
Income (loss) allocable to the Company												6,287	8,260
Amortization of capitalized costs												(134)	(507)
Equity in earnings (loss) on unconsolidated entities												6,153	7,753
Distribution declared to the Company												10,916	13,622
Distributions received by the Company												$ 13,087	$ 13,497

Variable Interest and Unconso65

Variable Interest and Unconsolidated Entities - Summarized Balance Sheet Data of Unconsolidated Entities (Detail) - USD ($) $ in Thousands	Dec. 31, 2016	Apr. 01, 2016	Dec. 31, 2015
Schedule of Unconsolidated Entities [Line Items]
Real estate investment properties, net	$ 678,041		$ 712,589
Other assets	15,363		16,778
Mortgages and other notes payable	146,251		184,341
Other liabilities	24,352		27,160
Carrying amount of investment	$ 0		73,434
HLBV
Schedule of Unconsolidated Entities [Line Items]
Partners’ capital			71,400
Difference between carrying amount of the investment and partners capital			2,000
Intrawest Venture
Schedule of Unconsolidated Entities [Line Items]
Percentage of ownership interest acquired		20.00%
Intrawest Venture
Schedule of Unconsolidated Entities [Line Items]
Real estate investment properties, net			66,493
Other assets			15,495
Mortgages and other notes payable			11,100
Other liabilities			16,552
Partners’ capital			54,336
Carrying amount of investment			$ 73,434
Company's ownership percentage			80.00%

Indebtedness - Schedule of Mort

Indebtedness - Schedule of Mortgages and Other Notes Payable (Detail) $ in Thousands	12 Months Ended
	Dec. 31, 2016USD ($)Property	Dec. 31, 2015USD ($)
Debt Instrument [Line Items]
Mortgages and other notes payable	$ 146,251	$ 184,341
Total debt	146,586	185,792
Premium (discount)	0	(53)
Unamortized loan costs	(335)	(1,398)
Total	$ 146,251	$ 184,341
LIBOR
Debt Instrument [Line Items]
30-day LIBOR Rate	0.77%	0.43%
LIBOR | Minimum
Debt Instrument [Line Items]
Mortgage Debt, interest rate basis point above reference rate		3.00%
LIBOR | Maximum
Debt Instrument [Line Items]
Mortgage Debt, interest rate basis point above reference rate		3.75%
Attractions Properties
Debt Instrument [Line Items]
Number of properties pledged as collateral | Property	1
Marinas Property
Debt Instrument [Line Items]
Number of properties pledged as collateral | Property	3
Non Interest Bearing [Member]
Debt Instrument [Line Items]
Other debt	$ 1,400
Mortgages | Variable Rate Debt
Debt Instrument [Line Items]
Mortgages and other notes payable	59,796	$ 64,040
Mortgages | Mortgage Debt, Variable Rate Debt, Maturity September 1, 2019
Debt Instrument [Line Items]
Mortgages and other notes payable	7,648	8,037
Approximate Carrying Value of Collateral	$ 17,700
Mortgages | Mortgage Debt, Variable Rate Debt, Maturity September 1, 2019 | LIBOR
Debt Instrument [Line Items]
Mortgage Debt, interest rate basis point above reference rate	3.30%
Mortgages | Mortgage Debt, Variable Rate Debt, Maturity September 1, 2019 | Ski and Mountain Lifestyle Properties
Debt Instrument [Line Items]
Number of properties pledged as collateral | Property	1
Mortgages | Mortgage Debt, Variable Rate Debt, Maturity November 30, 2017
Debt Instrument [Line Items]
Mortgages and other notes payable	$ 15,531	18,156
Approximate Carrying Value of Collateral	$ 42,800
Mortgages | Mortgage Debt, Variable Rate Debt, Maturity November 30, 2017 | LIBOR
Debt Instrument [Line Items]
Mortgage Debt, interest rate basis point above reference rate	3.00%
Mortgages | Mortgage Debt, Variable Rate Debt, Maturity November 30, 2017 | Attractions Properties
Debt Instrument [Line Items]
Number of properties pledged as collateral | Property	1
Mortgages | Mortgage Debt, Variable Rate Debt, Maturity October 5, 2017
Debt Instrument [Line Items]
Mortgages and other notes payable	$ 36,617	37,847
Approximate Carrying Value of Collateral	$ 137,600
Mortgages | Mortgage Debt, Variable Rate Debt, Maturity October 5, 2017 | LIBOR | Minimum
Debt Instrument [Line Items]
Mortgage Debt, interest rate basis point above reference rate	1.50%
Mortgages | Mortgage Debt, Variable Rate Debt, Maturity October 5, 2017 | LIBOR | Maximum
Debt Instrument [Line Items]
Mortgage Debt, interest rate basis point above reference rate	3.50%
Mortgages | Mortgage Debt, Variable Rate Debt, Maturity October 5, 2017 | Ski and Mountain Lifestyle Properties
Debt Instrument [Line Items]
Number of properties pledged as collateral | Property	4
Mortgages | Mortgage Debt, Fixed Rate Debt, Maturity September 28, 2016
Debt Instrument [Line Items]
Mortgages and other notes payable	$ 0	18,552
Stated interest rate	6.80%
Approximate Carrying Value of Collateral	$ 0
Mortgages | Mortgage Debt, Fixed Rate Debt, Maturity September 28, 2016 | Attractions Properties
Debt Instrument [Line Items]
Number of properties pledged as collateral | Property	1
Mortgages | Mortgage Debt, Fixed Rate Debt, Maturity October 5, 2017
Debt Instrument [Line Items]
Mortgages and other notes payable	$ 85,369	90,799
Stated interest rate	6.10%
Approximate Carrying Value of Collateral	$ 184,700
Mortgages | Mortgage Debt, Fixed Rate Debt, Maturity October 5, 2017 | Ski and Mountain Lifestyle Properties
Debt Instrument [Line Items]
Number of properties pledged as collateral | Property	6
Mortgages | Mortgage Debt, Fixed Rate Debt, Due September 1, 2016 To December 1, 2016
Debt Instrument [Line Items]
Mortgages and other notes payable	$ 0	10,696
Approximate Carrying Value of Collateral	$ 0
Mortgages | Mortgage Debt, Fixed Rate Debt, Due September 1, 2016 To December 1, 2016 | Minimum
Debt Instrument [Line Items]
Stated interest rate	6.30%
Mortgages | Mortgage Debt, Fixed Rate Debt, Due September 1, 2016 To December 1, 2016 | Maximum
Debt Instrument [Line Items]
Stated interest rate	6.50%
Mortgages | Mortgage Debt, Fixed Rate Debt, Due September 1, 2016 To December 1, 2016 | Marinas Property
Debt Instrument [Line Items]
Number of properties pledged as collateral | Property	3
Other Debt | Other Debt, Fixed Rate Debt, Maturity December 1, 2020
Debt Instrument [Line Items]
Other debt	$ 1,421	1,705
Approximate Carrying Value of Collateral	0
Mortgages And Other Debt | Fixed Rate Debt
Debt Instrument [Line Items]
Total fixed rate debt	$ 86,790	$ 121,752

Indebtedness - Additional Infor

Indebtedness - Additional Information (Detail)	1 Months Ended			12 Months Ended
	Nov. 30, 2016Property	Aug. 31, 2016USD ($)	Jun. 30, 2015USD ($)	Dec. 31, 2016USD ($)Property	Dec. 31, 2015USD ($)	Dec. 31, 2014USD ($)
Debt Instrument [Line Items]
Senior unsecured notes outstanding			$ 318,300,000
Debt instrument, premium rate			103.625%
Loss on extinguishment of debt				$ 25,000	$ 21,065,000	$ 1,391,000
Payment of mortgage loan				39,206,000	529,893,000	$ 365,224,000
Scheduled debt repayments and maturities within the next twelve months				138,497,000
Other Liabilities
Debt Instrument [Line Items]
Capital lease obligations				4,500,000	4,500,000
Reported Value Measurement
Debt Instrument [Line Items]
Estimated fair values of mortgages and other notes payable and line of credit				$ 146,300,000	$ 185,400,000
Marinas Property
Debt Instrument [Line Items]
Number of properties pledged as collateral | Property				3
Attractions Properties
Debt Instrument [Line Items]
Payment of mortgage loan				$ 18,200,000
Number of properties pledged as collateral | Property				1
Disposal Group, Disposed of by Sale, Not Discontinued Operations
Debt Instrument [Line Items]
Number of properties sold | Property	36
Disposal Group, Disposed of by Sale, Not Discontinued Operations | Marinas Property
Debt Instrument [Line Items]
Number of properties sold | Property				5
Minimum | LIBOR
Debt Instrument [Line Items]
Line of credit, margin added over variable interest rate					3.00%
Minimum | Base Rate
Debt Instrument [Line Items]
Line of credit, margin added over variable interest rate					2.00%
Maximum | LIBOR
Debt Instrument [Line Items]
Line of credit, margin added over variable interest rate					3.75%
Maximum | Base Rate
Debt Instrument [Line Items]
Line of credit, margin added over variable interest rate					2.75%
Revolving Credit Facility | $100 Million Revolving Line Of Credit
Debt Instrument [Line Items]
Revolving line of credit borrowing capacity					$ 100,000,000
Debt extinguishment amount		$ 100,000,000
Senior Unsecured Notes
Debt Instrument [Line Items]
Loss on extinguishment of debt			$ 18,800,000
Notes Payable, Other Payables
Debt Instrument [Line Items]
Payment of mortgage loan				$ 10,500,000
Mortgages
Debt Instrument [Line Items]
Payment of mortgage loan				$ 10,500,000

Indebtedness - Schedule of Futu

Indebtedness - Schedule of Future Principal Payments and Maturities for Indebtedness (Detail) - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2015
Debt Disclosure [Abstract]
2,017	$ 138,497
2,018	721
2,019	7,083
2,020	285
2,021	0
Thereafter	0
Total debt	$ 146,586	$ 185,792

Derivative Instruments and He69

Derivative Instruments and Hedging Activities - Additional Information (Detail) - Derivative	Dec. 31, 2016	Dec. 31, 2015
Interest Rate Swap
Derivative [Line Items]
Number of interest rate swaps	1	1

Derivative Instruments and He70

Derivative Instruments and Hedging Activities - Summary of Terms and Fair Values of Derivative Financial Instruments (Detail) - Interest Rate Swap - Cash Flow Hedges - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2015
Derivative [Line Items]
Notional Amount	$ 7,648	$ 8,037
Fair Value Liability	(416)	(618)
Derivative Instrument 1
Derivative [Line Items]
Notional Amount	$ 7,648
Strike	3.60%
Credit Spread	3.30%
Fair Value Liability	$ (416)	$ (618)

Derivative Instruments and He71

Derivative Instruments and Hedging Activities - Summary of Gross and Net Amounts of Derivative Financial Instruments (Detail) - Interest Rate Swap - Cash Flow Hedges - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2015
Derivative [Line Items]
Notional Amount of Cash Flow Hedges	$ 7,648	$ 8,037
Gross Amounts of Recognized Liabilities	(416)	(618)
Gross Amounts Offset in the Balance Sheet	0	0
Net Amounts of Liabilities Presented in the Balance Sheet	(416)	(618)
Gross Amounts Not Offset in the Balance Sheet, Financial Instruments	(416)	(618)
Gross Amounts Not Offset in the Balance Sheet, Cash Collateral	0	0
Net Amount	$ (416)	$ (618)

Fair Value Measurements - Addit

Fair Value Measurements - Additional Information (Detail) - Property	Dec. 31, 2016	Dec. 31, 2015
Fair Value Disclosures [Abstract]
Number of investment properties carried at fair value	0	14
Number of investment properties Held for Sale		6

Fair Value Measurements - Finan

Fair Value Measurements - Financial Assets and Liabilities Carried at Fair Value (Detail) - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2015
Level 1
Assets:
Real estate investment properties, net		$ 0
Assets held for sale, net		0
Total assets		0
Liabilities:
Derivative instrument	$ 0	0
Level 2
Assets:
Real estate investment properties, net		0
Assets held for sale, net		0
Total assets		0
Liabilities:
Derivative instrument	416	618
Level 3
Assets:
Real estate investment properties, net		184,061
Assets held for sale, net		40,588
Total assets		224,649
Liabilities:
Derivative instrument	0	0
Reported Value Measurement
Assets:
Real estate investment properties, net		184,061
Assets held for sale, net		40,588
Total assets		224,649
Liabilities:
Derivative instrument	$ 416	$ 618

Income Taxes - Additional Infor

Income Taxes - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended								6 Months Ended	9 Months Ended	12 Months Ended
	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Jun. 30, 2015	Sep. 30, 2015	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Income Tax Disclosure [Abstract]
Income tax liabilities	$ 8,424				$ 9,778						$ 8,424	$ 9,778
Income tax benefit (expense)	4,424	$ (3,070)	$ 0	$ 0	(663)	$ (8,449)	$ (666)	$ 0	$ (666)	$ (9,115)	1,354	(9,778)	$ 0
Net operating loss carry-forwards	$ 269,000				$ 264,600						$ 269,000	$ 264,600
Operating loss carry-forwards expire year											2,025
Operating loss carry-forwards expire year											2,036

Income Taxes - Components of De

Income Taxes - Components of Deferred Taxes (Detail) - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2015
Income Tax Disclosure [Abstract]
Net operating losses	$ 109,236	$ 107,655
Book/tax differences in deferred income	4,657	5,302
Book/tax differences in acquired assets	(39,054)	(36,732)
Total deferred tax asset	74,839	76,225
Valuation allowance	(74,839)	(76,225)
Total deferred tax asset, net	$ 0	$ 0

Related Party Arrangements - Ad

Related Party Arrangements - Additional Information (Detail)	12 Months Ended
	Dec. 31, 2016
Monthly
Related Party Transaction [Line Items]
Asset management fee as a percentage of real estate asset value	0.075%
Annually
Related Party Transaction [Line Items]
Asset management fee as a percentage of real estate asset value	0.90%

Related Party Arrangements - 77

Related Party Arrangements - Adviser and Former Adviser Earned Fees and Incurred Reimbursable Expenses (Detail) - USD ($)	Mar. 31, 2014	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Acquisition fees:
Acquisition fees from offering proceeds		$ 0	$ 0	$ 319,000
Acquisition fees from debt proceeds		0	0	1,521,000
Total		0	0	1,840,000
Asset management fees		12,137,000	19,726,000	29,863,000
Reimbursable expenses:
Acquisition costs		0	0	248,000
Operating expenses		5,267,000	5,451,000	6,680,000
Total		5,267,000	5,451,000	6,928,000
Total fees earned and reimbursable expenses		17,404,000	25,177,000	38,631,000
Acquisition fee as a percentage of offering proceeds	3.00%
Acquisition fee as a percentage of loan proceeds	3.00%
Asset management fees to advisor		11,914,000	15,666,000	18,651,000
Advisor
Reimbursable expenses:
Acquisition costs		0	0	40,000
Operating expenses		$ 300,000	400,000	400,000
As percentage of average invested assets
Reimbursable expenses:
Maximum reimbursement of expenses, percent		2.00%
As percentage of net income
Reimbursable expenses:
Maximum reimbursement of expenses, percent		25.00%
Assets Held-for-sale
Reimbursable expenses:
Asset management fees to advisor		$ 200,000	$ 4,100,000	$ 11,200,000

Related Party Arrangements - Am

Related Party Arrangements - Amounts Due to Affiliates for Fees and Expenses (Detail) - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2015
Related Party Transactions [Abstract]
Due to affiliates	$ 475	$ 420

Stockholders' Equity - Addition

Stockholders' Equity - Additional Information (Detail) - USD ($) $ / shares in Units, shares in Millions	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Stockholders Equity Note [Line Items]
Declared and paid distributions	$ 211,400,000	$ 487,800,000	$ 137,900,000
Declared and paid distributions (in dollars per share)	$ 0.65	$ 1.5	$ 0.4252
Amounts distributed to stockholders	$ 0	$ 0	$ 0
Stock redeemed (in shares)			1.4
Average price paid per share (in dollars per share)			$ 6.80
Special cash distribution
Stockholders Equity Note [Line Items]
Declared and paid distributions	$ 162,600,000	$ 422,700,000
Declared and paid distributions (in dollars per share)	$ 0.5	$ 1.3

Stockholders' Equity - Tax Comp

Stockholders' Equity - Tax Composition of Distributions Declared (Detail)	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Equity [Abstract]
Taxable as ordinary income	1.20%	28.00%	0.00%
Taxable as qualified dividends	0.20%	0.00%	0.00%
Taxable as capital gain	0.00%	18.30%	0.00%
Return of capital	98.60%	53.70%	100.00%

Concentrations of Risk - Additi

Concentrations of Risk - Additional Information (Detail) $ in Millions	12 Months Ended
	Dec. 31, 2016USD ($)PropertyTenantstate
Concentration Risk [Line Items]
Number of states the entity operates in	18
Ski and Mountain Lifestyle Properties
Concentration Risk [Line Items]
Number of states the entity operates in	9
Ski and Mountain Lifestyle Properties | Customer Concentration Risk
Concentration Risk [Line Items]
Number of tenants | Tenant	1
Number of tenant operated properties | Property	7
Property operating revenues | $	$ 43.1
Attractions Properties
Concentration Risk [Line Items]
Number of states the entity operates in	11

Commitments and Contingencies -

Commitments and Contingencies - Schedule of Future Obligations under Ground Leases and Land Permits (Detail) $ in Thousands	Dec. 31, 2016USD ($)
Commitments and Contingencies Disclosure [Abstract]
2,017	$ 11,646
2,018	11,638
2,019	11,594
2,020	11,594
2,021	11,594
Thereafter	115,637
Total	$ 173,703

Selected Quarterly Financial 83

Selected Quarterly Financial Data (Unaudited) - Quarterly Financial Data (Detail) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	Apr. 01, 2016	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Jun. 30, 2015	Sep. 30, 2015	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Quarterly Financial Data [Abstract]
Total revenues		$ 39,396	$ 96,382	$ 63,556	$ 41,781	$ 52,414	$ 127,600	$ 85,659	$ 71,992			$ 241,115	$ 337,665	$ 373,295
Operating income (loss)		(264)	26,580	4,323	2,401	(131,195)	35,751	(7,964)	(7,767)			33,040	(111,175)	(10,378)
Equity in earnings of unconsolidated entities		0	0	0	1,290	2,213	1,162	(783)	3,561			1,290	6,153	7,753
Gain on purchase of controlling interest in unconsolidated entity	$ 30,000	0	0	30,025	0							30,025	0	0
Income tax benefit (expense)		4,424	(3,070)	0	0	(663)	(8,449)	(666)	0	$ (666)	$ (9,115)	1,354	(9,778)	0
Income (loss) from continuing operations		2,046	20,701	32,188	1,177	(131,779)	25,571	(39,149)	(15,267)	(54,416)	(29,100)	56,112	(160,624)	(60,438)
Discontinued operations		250	0	9,964	(523)	(9,715)	7,614	199,720	7,052			9,691	204,671
Gain on sale of real estate		(766)	0	911	0	20,321	(1,064)	27,337	0			145	46,594	0
Gain from sale of unconsolidated entities		0	0	0	0	0	0	39,252	0			0	39,252	0
Net income (loss)		$ 1,530	$ 20,701	$ 43,063	$ 654	$ (121,173)	$ 32,121	$ 227,160	$ (8,215)	$ 218,945	$ 251,066	$ 65,948	$ 129,893	$ (92,144)
Weighted average number of shares of common stock outstanding (basic and diluted) (in shares)		325,183	325,183	325,183	325,183	325,183	325,183	325,183	325,183			325,183	325,183	324,451
Earnings (loss) per share of common stock (basic and diluted) (in dollars per shares)		$ 0.01	$ 0.06	$ 0.13	$ 0	$ (0.37)	$ 0.10	$ 0.70	$ (0.03)	$ 0.67	$ 0.77	$ 0.20	$ 0.40	$ (0.28)

Subsequent Events (Details)

Subsequent Events (Details)	1 Months Ended
	Jan. 31, 2017Loan	Dec. 31, 2016Property	Nov. 30, 2016Property
Assets Held-for-sale | Ski and Mountain Lifestyle Properties
Subsequent Event [Line Items]
Number of properties held for sale | Property		36	36
Subsequent Event
Subsequent Event [Line Items]
Number of mortgages with extended maturity dates | Loan	2

Schedule II-Valuation and Qua85

Schedule II-Valuation and Qualifying Accounts (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Movement in Valuation Allowances and Reserves [Roll Forward]
Balance at Beginning of Year	$ 88,757	$ 59,805	$ 55,502
Charged to Costs and Expenses	1,854	17,855	3,270
Charged to Other Accounts	(1,902)	21,450	7,257
Deemed Uncollectible	0	(10,353)	(6,224)
Collected/ Recovered	0	0	0
Balance at End of Year	88,709	88,757	59,805
Deferred tax asset valuation allowance
Movement in Valuation Allowances and Reserves [Roll Forward]
Balance at Beginning of Year	76,225	58,241	50,699
Charged to Other Accounts	(1,386)	17,984	7,542
Collected/ Recovered	0	0	0
Balance at End of Year	74,839	76,225	58,241
Allowance for loan losses
Movement in Valuation Allowances and Reserves [Roll Forward]
Balance at Beginning of Year	0	1,564	4,803
Charged to Costs and Expenses		9,319	3,270
Charged to Other Accounts		(530)	(285)
Deemed Uncollectible		(10,353)	(6,224)
Collected/ Recovered		0	0
Balance at End of Year		0	1,564
Allowance for doubtful accounts
Movement in Valuation Allowances and Reserves [Roll Forward]
Balance at Beginning of Year	12,532	0
Charged to Costs and Expenses	1,854	8,536
Charged to Other Accounts	(516)	3,996
Collected/ Recovered	0	0
Balance at End of Year	$ 13,870	$ 12,532	$ 0

Schedule III-Real Estate and 86

Schedule III-Real Estate and Accumulated Depreciation (Detail) $ in Thousands	12 Months Ended
	Dec. 31, 2016USD ($)	Apr. 01, 2016Property	Dec. 31, 2015USD ($)Property	Dec. 31, 2014USD ($)	Dec. 31, 2013USD ($)
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Land & Land Improvement	$ 364,661
Improvements	111,950
Land & Land Improvements	377,684
Total	798,470		$ 786,244	$ 1,138,108	$ 2,142,067
Accumulated Depreciation	$ (285,165)		$ (255,883)	$ (279,541)	$ (415,216)
Life on which depreciation in latest income statements is computed	39 years
Aggregate cost for federal income tax purpose	$ 883,200
Number of properties held for sale | Property			6
Intrawest Venture
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Percentage of ownership interest acquired		20.00%
Ski and Mountain Lifestyle Properties
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of properties held for sale | Property		7
Gatlinburg Sky Lift Gatlinburg, Tennessee
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Improvements	8
Land & Land Improvements	0
Total	19,174
Accumulated Depreciation	$ (4,412)
Date Acquired	Dec. 22, 2005
Life on which depreciation in latest income statements is computed	39 years
Hawaiian Falls Waterparks Garland And The Colony, Texas
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Land & Land Improvement	$ 3,123
Improvements	2,037
Land & Land Improvements	4,950
Total	9,581
Accumulated Depreciation	$ (4,832)
Date Acquired	Apr. 21, 2006
Life on which depreciation in latest income statements is computed	39 years
Cypress Mountain Vancouver, British Columbia
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Land & Land Improvement	$ 161
Improvements	5,694
Land & Land Improvements	1,024
Total	25,591
Accumulated Depreciation	$ (9,425)
Date Acquired	May 30, 2006
Life on which depreciation in latest income statements is computed	39 years
Funtasticks Fun Center Tucson, Arizona
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Land & Land Improvement	$ 3,038
Improvements	1,952
Land & Land Improvements	2,469
Total	3,579
Accumulated Depreciation	$ (1,349)
Date Acquired	Oct. 6, 2006
Life on which depreciation in latest income statements is computed	39 years
Camelot Park Bakersfield, California
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Land & Land Improvement	$ 179
Improvements	807
Land & Land Improvements	178
Total	250
Accumulated Depreciation	$ (251)
Date Acquired	Oct. 6, 2006
Life on which depreciation in latest income statements is computed	39 years
Zuma Fun Center Charlotte, North Carolina
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Land & Land Improvement	$ 3,646
Improvements	2,607
Land & Land Improvements	2,262
Total	2,980
Accumulated Depreciation	$ (1,258)
Date Acquired	Oct. 6, 2006
Life on which depreciation in latest income statements is computed	39 years
Mountasia Family Fun Center North Richland Hills, Texas
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Land & Land Improvement	$ 1,152
Improvements	35
Land & Land Improvements	773
Total	1,197
Accumulated Depreciation	$ (466)
Date Acquired	Oct. 6, 2006
Life on which depreciation in latest income statements is computed	39 years
Zuma Fun Center South Houston, Texas
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Land & Land Improvement	$ 1,551
Improvements	2,867
Land & Land Improvements	963
Total	1,367
Accumulated Depreciation	$ (646)
Date Acquired	Oct. 6, 2006
Life on which depreciation in latest income statements is computed	39 years
Brighton Ski Resort Brighton, Utah
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Land & Land Improvement	$ 11,809
Improvements	3,173
Land & Land Improvements	12,951
Total	28,338
Accumulated Depreciation	$ (10,933)
Date Acquired	Jan. 8, 2007
Life on which depreciation in latest income statements is computed	39 years
Northstar At Tahoe Resort Lake Tahoe, California
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Land & Land Improvement	$ 60,790
Improvements	13,951
Land & Land Improvements	67,240
Total	83,275
Accumulated Depreciation	$ (27,752)
Date Acquired	Jan. 19, 2007
Life on which depreciation in latest income statements is computed	39 years
Sierra At Tahoe Resort South Lake Tahoe, California
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Land & Land Improvement	$ 19,875
Improvements	3,411
Land & Land Improvements	22,347
Total	32,660
Accumulated Depreciation	$ (16,126)
Date Acquired	Jan. 19, 2007
Life on which depreciation in latest income statements is computed	39 years
Loon Mountain Resort Lincoln, New Hampshire
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Land & Land Improvement	$ 9,226
Improvements	8,142
Land & Land Improvements	15,808
Total	22,388
Accumulated Depreciation	$ (9,527)
Date Acquired	Jan. 19, 2007
Life on which depreciation in latest income statements is computed	39 years
Summit-at-Snoqualmie Resort Snoqualmie Pass, Washington
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Land & Land Improvement	$ 20,122
Improvements	4,827
Land & Land Improvements	22,599
Total	34,543
Accumulated Depreciation	$ (14,125)
Date Acquired	Jan. 19, 2007
Life on which depreciation in latest income statements is computed	39 years
White Water Bay Oklahoma City, Oklahoma
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Land & Land Improvement	$ 10,720
Improvements	628
Land & Land Improvements	10,729
Total	16,809
Accumulated Depreciation	$ (4,678)
Date Acquired	Apr. 6, 2007
Life on which depreciation in latest income statements is computed	39 years
Splashtown Houston, Texas
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Land & Land Improvement	$ 10,817
Improvements	9,166
Land & Land Improvements	16,511
Total	21,592
Accumulated Depreciation	$ (2,907)
Date Acquired	Apr. 6, 2007
Life on which depreciation in latest income statements is computed	39 years
Waterworld Concord California
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Land & Land Improvement	$ 1,733
Improvements	663
Land & Land Improvements	2,111
Total	10,964
Accumulated Depreciation	$ (5,396)
Date Acquired	Apr. 6, 2007
Life on which depreciation in latest income statements is computed	39 years
Darien Lake Buffalo, New York
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Land & Land Improvement	$ 60,993
Improvements	5,491
Land & Land Improvements	49,158
Total	65,314
Accumulated Depreciation	$ (38,852)
Date Acquired	Apr. 6, 2007
Life on which depreciation in latest income statements is computed	39 years
Frontier City Oklahoma City, Oklahoma
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Land & Land Improvement	$ 7,265
Improvements	2,013
Land & Land Improvements	6,604
Total	13,244
Accumulated Depreciation	$ (5,177)
Date Acquired	Apr. 6, 2007
Life on which depreciation in latest income statements is computed	39 years
Wild Waves And Enchanted Village Seattle, Washington
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Land & Land Improvement	$ 19,200
Improvements	6,395
Land & Land Improvements	13,377
Total	14,465
Accumulated Depreciation	$ (12,422)
Date Acquired	Apr. 6, 2007
Life on which depreciation in latest income statements is computed	39 years
Magic Springs And Crystal Falls Hot Springs, Arkansas
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Land & Land Improvement	$ 4,237
Improvements	5,505
Land & Land Improvements	4,559
Total	9,907
Accumulated Depreciation	$ (4,494)
Date Acquired	Apr. 16, 2007
Life on which depreciation in latest income statements is computed	39 years
Mountain High Resort Wrightwood, California
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Land & Land Improvement	$ 14,272
Improvements	940
Land & Land Improvements	12,461
Total	28,675
Accumulated Depreciation	$ (14,141)
Date Acquired	Jun. 29, 2007
Life on which depreciation in latest income statements is computed	39 years
Sugarloaf Mountain Resort Carrabassett Valley, Maine
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Land & Land Improvement	$ 15,408
Improvements	3,681
Land & Land Improvements	14,713
Total	24,747
Accumulated Depreciation	$ (8,975)
Date Acquired	Aug. 7, 2007
Life on which depreciation in latest income statements is computed	39 years
Sunday River Resort Newry, Maine
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Land & Land Improvement	$ 32,698
Improvements	6,408
Land & Land Improvements	37,423
Total	51,362
Accumulated Depreciation	$ (15,916)
Date Acquired	Aug. 7, 2007
Life on which depreciation in latest income statements is computed	39 years
The Northstar Commercial Village Lake Tahoe, California
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Land & Land Improvement	$ 2,354
Improvements	4,178
Land & Land Improvements	2,759
Total	40,464
Accumulated Depreciation	$ (13,200)
Date Acquired	Nov. 15, 2007
Life on which depreciation in latest income statements is computed	39 years
Myrtle Waves Myrtle Beach South Carolina
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Land & Land Improvement	$ 0
Improvements	751
Land & Land Improvements	177
Total	2,904
Accumulated Depreciation	$ (651)
Life on which depreciation in latest income statements is computed	39 years
Mount Sunapee Mountain Resort Newbury, New Hampshire
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Land & Land Improvement	$ 0
Improvements	685
Land & Land Improvements	110
Total	12,665
Accumulated Depreciation	$ (4,711)
Date Acquired	Dec. 5, 2008
Life on which depreciation in latest income statements is computed	39 years
Okemo Mountain Resort Ludlow, Vermont
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Land & Land Improvement	$ 17,566
Improvements	1,867
Land & Land Improvements	18,696
Total	61,202
Accumulated Depreciation	$ (15,273)
Date Acquired	Dec. 5, 2008
Life on which depreciation in latest income statements is computed	39 years
Crested Butte Mountain Resort Mt Crested Butte, Colorado
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Land & Land Improvement	$ 1,305
Improvements	2,142
Land & Land Improvements	1,332
Total	33,478
Accumulated Depreciation	$ (11,772)
Date Acquired	Dec. 5, 2008
Life on which depreciation in latest income statements is computed	39 years
Jiminy Peak Mountain Resort Hancock, Massachusetts
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Land & Land Improvement	$ 7,802
Improvements	595
Land & Land Improvements	8,087
Total	16,561
Accumulated Depreciation	$ (4,738)
Date Acquired	Jan. 27, 2009
Life on which depreciation in latest income statements is computed	39 years
Hawaiian Waters Kapolei, Hawaii
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Land & Land Improvement	$ 0
Improvements	756
Land & Land Improvements	413
Total	14,623
Accumulated Depreciation	$ (3,678)
Date Acquired	May 6, 2009
Life on which depreciation in latest income statements is computed	39 years
Pacific Park Santa Monica, California
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Land & Land Improvement	$ 0
Improvements	887
Land & Land Improvements	0
Total	27,508
Accumulated Depreciation	$ (5,419)
Date Acquired	Dec. 29, 2010
Life on which depreciation in latest income statements is computed	39 years
Stevens Pass Skykomish, King And Chelan County, WA
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Land & Land Improvement	$ 62
Improvements	2,589
Land & Land Improvements	1,626
Total	21,015
Accumulated Depreciation	$ (4,089)
Date Acquired	Nov. 17, 2011
Life on which depreciation in latest income statements is computed	39 years
Rapids Waterpark West Palm Beach, Florida
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Land & Land Improvement	$ 11,041
Improvements	6,710
Land & Land Improvements	16,646
Total	26,073
Accumulated Depreciation	$ (3,626)
Date Acquired	Jun. 29, 2012
Life on which depreciation in latest income statements is computed	39 years
Soak City Palm Springs, California
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Land & Land Improvement	$ 12,516
Improvements	16
Land & Land Improvements	6,628
Total	8,263
Accumulated Depreciation	$ (1,902)
Date Acquired	Aug. 12, 2013
Life on which depreciation in latest income statements is computed	39 years
Phoenix Wet n Wild Waterpark Phoenix, Arizona
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Land & Land Improvement	$ 0
Improvements	373
Land & Land Improvements	0
Total	11,712
Accumulated Depreciation	$ (2,046)
Date Acquired	Nov. 26, 2013
Life on which depreciation in latest income statements is computed	39 years
Leaseholds and Leasehold Improvements
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Initial Costs, Buildings and Lease-hold Interests and Improvements	$ 178,650
Gross Amounts at which Carried at Close of Period, Buildings and Lease-hold Interests and Improvements	170,962
Leaseholds and Leasehold Improvements | Gatlinburg Sky Lift Gatlinburg, Tennessee
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Initial Costs, Buildings and Lease-hold Interests and Improvements	19,154
Gross Amounts at which Carried at Close of Period, Buildings and Lease-hold Interests and Improvements	19,162
Leaseholds and Leasehold Improvements | Hawaiian Falls Waterparks Garland And The Colony, Texas
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Initial Costs, Buildings and Lease-hold Interests and Improvements	3,663
Gross Amounts at which Carried at Close of Period, Buildings and Lease-hold Interests and Improvements	3,812
Leaseholds and Leasehold Improvements | Cypress Mountain Vancouver, British Columbia
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Initial Costs, Buildings and Lease-hold Interests and Improvements	19,001
Gross Amounts at which Carried at Close of Period, Buildings and Lease-hold Interests and Improvements	13,862
Leaseholds and Leasehold Improvements | Funtasticks Fun Center Tucson, Arizona
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Initial Costs, Buildings and Lease-hold Interests and Improvements	0
Gross Amounts at which Carried at Close of Period, Buildings and Lease-hold Interests and Improvements	0
Leaseholds and Leasehold Improvements | Camelot Park Bakersfield, California
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Initial Costs, Buildings and Lease-hold Interests and Improvements	0
Gross Amounts at which Carried at Close of Period, Buildings and Lease-hold Interests and Improvements	0
Leaseholds and Leasehold Improvements | Zuma Fun Center Charlotte, North Carolina
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Initial Costs, Buildings and Lease-hold Interests and Improvements	0
Gross Amounts at which Carried at Close of Period, Buildings and Lease-hold Interests and Improvements	0
Leaseholds and Leasehold Improvements | Mountasia Family Fun Center North Richland Hills, Texas
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Initial Costs, Buildings and Lease-hold Interests and Improvements	0
Gross Amounts at which Carried at Close of Period, Buildings and Lease-hold Interests and Improvements	0
Leaseholds and Leasehold Improvements | Zuma Fun Center South Houston, Texas
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Initial Costs, Buildings and Lease-hold Interests and Improvements	0
Gross Amounts at which Carried at Close of Period, Buildings and Lease-hold Interests and Improvements	0
Leaseholds and Leasehold Improvements | Brighton Ski Resort Brighton, Utah
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Initial Costs, Buildings and Lease-hold Interests and Improvements	2,123
Gross Amounts at which Carried at Close of Period, Buildings and Lease-hold Interests and Improvements	2,123
Leaseholds and Leasehold Improvements | Northstar At Tahoe Resort Lake Tahoe, California
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Initial Costs, Buildings and Lease-hold Interests and Improvements	0
Gross Amounts at which Carried at Close of Period, Buildings and Lease-hold Interests and Improvements	0
Leaseholds and Leasehold Improvements | Sierra At Tahoe Resort South Lake Tahoe, California
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Initial Costs, Buildings and Lease-hold Interests and Improvements	800
Gross Amounts at which Carried at Close of Period, Buildings and Lease-hold Interests and Improvements	800
Leaseholds and Leasehold Improvements | Loon Mountain Resort Lincoln, New Hampshire
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Initial Costs, Buildings and Lease-hold Interests and Improvements	346
Gross Amounts at which Carried at Close of Period, Buildings and Lease-hold Interests and Improvements	347
Leaseholds and Leasehold Improvements | Summit-at-Snoqualmie Resort Snoqualmie Pass, Washington
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Initial Costs, Buildings and Lease-hold Interests and Improvements	792
Gross Amounts at which Carried at Close of Period, Buildings and Lease-hold Interests and Improvements	792
Leaseholds and Leasehold Improvements | White Water Bay Oklahoma City, Oklahoma
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Initial Costs, Buildings and Lease-hold Interests and Improvements	0
Gross Amounts at which Carried at Close of Period, Buildings and Lease-hold Interests and Improvements	0
Leaseholds and Leasehold Improvements | Splashtown Houston, Texas
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Initial Costs, Buildings and Lease-hold Interests and Improvements	0
Gross Amounts at which Carried at Close of Period, Buildings and Lease-hold Interests and Improvements	0
Leaseholds and Leasehold Improvements | Waterworld Concord California
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Initial Costs, Buildings and Lease-hold Interests and Improvements	7,841
Gross Amounts at which Carried at Close of Period, Buildings and Lease-hold Interests and Improvements	7,841
Leaseholds and Leasehold Improvements | Darien Lake Buffalo, New York
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Initial Costs, Buildings and Lease-hold Interests and Improvements	0
Gross Amounts at which Carried at Close of Period, Buildings and Lease-hold Interests and Improvements	0
Leaseholds and Leasehold Improvements | Frontier City Oklahoma City, Oklahoma
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Initial Costs, Buildings and Lease-hold Interests and Improvements	0
Gross Amounts at which Carried at Close of Period, Buildings and Lease-hold Interests and Improvements	0
Leaseholds and Leasehold Improvements | Wild Waves And Enchanted Village Seattle, Washington
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Initial Costs, Buildings and Lease-hold Interests and Improvements	0
Gross Amounts at which Carried at Close of Period, Buildings and Lease-hold Interests and Improvements	0
Leaseholds and Leasehold Improvements | Magic Springs And Crystal Falls Hot Springs, Arkansas
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Initial Costs, Buildings and Lease-hold Interests and Improvements	8
Gross Amounts at which Carried at Close of Period, Buildings and Lease-hold Interests and Improvements	0
Leaseholds and Leasehold Improvements | Mountain High Resort Wrightwood, California
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Initial Costs, Buildings and Lease-hold Interests and Improvements	14,022
Gross Amounts at which Carried at Close of Period, Buildings and Lease-hold Interests and Improvements	10,268
Leaseholds and Leasehold Improvements | Sugarloaf Mountain Resort Carrabassett Valley, Maine
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Initial Costs, Buildings and Lease-hold Interests and Improvements	0
Gross Amounts at which Carried at Close of Period, Buildings and Lease-hold Interests and Improvements	2,000
Leaseholds and Leasehold Improvements | Sunday River Resort Newry, Maine
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Initial Costs, Buildings and Lease-hold Interests and Improvements	0
Gross Amounts at which Carried at Close of Period, Buildings and Lease-hold Interests and Improvements	0
Leaseholds and Leasehold Improvements | The Northstar Commercial Village Lake Tahoe, California
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Initial Costs, Buildings and Lease-hold Interests and Improvements	0
Gross Amounts at which Carried at Close of Period, Buildings and Lease-hold Interests and Improvements	0
Leaseholds and Leasehold Improvements | Myrtle Waves Myrtle Beach South Carolina
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Initial Costs, Buildings and Lease-hold Interests and Improvements	0
Gross Amounts at which Carried at Close of Period, Buildings and Lease-hold Interests and Improvements	0
Leaseholds and Leasehold Improvements | Mount Sunapee Mountain Resort Newbury, New Hampshire
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Initial Costs, Buildings and Lease-hold Interests and Improvements	6,727
Gross Amounts at which Carried at Close of Period, Buildings and Lease-hold Interests and Improvements	6,909
Leaseholds and Leasehold Improvements | Okemo Mountain Resort Ludlow, Vermont
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Initial Costs, Buildings and Lease-hold Interests and Improvements	25,086
Gross Amounts at which Carried at Close of Period, Buildings and Lease-hold Interests and Improvements	25,144
Leaseholds and Leasehold Improvements | Crested Butte Mountain Resort Mt Crested Butte, Colorado
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Initial Costs, Buildings and Lease-hold Interests and Improvements	18,843
Gross Amounts at which Carried at Close of Period, Buildings and Lease-hold Interests and Improvements	19,431
Leaseholds and Leasehold Improvements | Jiminy Peak Mountain Resort Hancock, Massachusetts
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Initial Costs, Buildings and Lease-hold Interests and Improvements	0
Gross Amounts at which Carried at Close of Period, Buildings and Lease-hold Interests and Improvements	0
Leaseholds and Leasehold Improvements | Hawaiian Waters Kapolei, Hawaii
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Initial Costs, Buildings and Lease-hold Interests and Improvements	13,399
Gross Amounts at which Carried at Close of Period, Buildings and Lease-hold Interests and Improvements	11,122
Leaseholds and Leasehold Improvements | Pacific Park Santa Monica, California
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Initial Costs, Buildings and Lease-hold Interests and Improvements	25,046
Gross Amounts at which Carried at Close of Period, Buildings and Lease-hold Interests and Improvements	25,252
Leaseholds and Leasehold Improvements | Stevens Pass Skykomish, King And Chelan County, WA
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Initial Costs, Buildings and Lease-hold Interests and Improvements	13,084
Gross Amounts at which Carried at Close of Period, Buildings and Lease-hold Interests and Improvements	14,524
Leaseholds and Leasehold Improvements | Rapids Waterpark West Palm Beach, Florida
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Initial Costs, Buildings and Lease-hold Interests and Improvements	0
Gross Amounts at which Carried at Close of Period, Buildings and Lease-hold Interests and Improvements	0
Leaseholds and Leasehold Improvements | Soak City Palm Springs, California
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Initial Costs, Buildings and Lease-hold Interests and Improvements	0
Gross Amounts at which Carried at Close of Period, Buildings and Lease-hold Interests and Improvements	0
Leaseholds and Leasehold Improvements | Phoenix Wet n Wild Waterpark Phoenix, Arizona
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Initial Costs, Buildings and Lease-hold Interests and Improvements	8,715
Gross Amounts at which Carried at Close of Period, Buildings and Lease-hold Interests and Improvements	7,573
Buildings
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Initial Costs, Buildings and Lease-hold Interests and Improvements	231,543
Gross Amounts at which Carried at Close of Period, Buildings and Lease-hold Interests and Improvements	249,824
Buildings | Gatlinburg Sky Lift Gatlinburg, Tennessee
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Initial Costs, Buildings and Lease-hold Interests and Improvements	12
Gross Amounts at which Carried at Close of Period, Buildings and Lease-hold Interests and Improvements	12
Buildings | Hawaiian Falls Waterparks Garland And The Colony, Texas
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Initial Costs, Buildings and Lease-hold Interests and Improvements	758
Gross Amounts at which Carried at Close of Period, Buildings and Lease-hold Interests and Improvements	819
Buildings | Cypress Mountain Vancouver, British Columbia
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Initial Costs, Buildings and Lease-hold Interests and Improvements	735
Gross Amounts at which Carried at Close of Period, Buildings and Lease-hold Interests and Improvements	10,705
Buildings | Funtasticks Fun Center Tucson, Arizona
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Initial Costs, Buildings and Lease-hold Interests and Improvements	1,413
Gross Amounts at which Carried at Close of Period, Buildings and Lease-hold Interests and Improvements	1,110
Buildings | Camelot Park Bakersfield, California
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Initial Costs, Buildings and Lease-hold Interests and Improvements	70
Gross Amounts at which Carried at Close of Period, Buildings and Lease-hold Interests and Improvements	72
Buildings | Zuma Fun Center Charlotte, North Carolina
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Initial Costs, Buildings and Lease-hold Interests and Improvements	1,072
Gross Amounts at which Carried at Close of Period, Buildings and Lease-hold Interests and Improvements	718
Buildings | Mountasia Family Fun Center North Richland Hills, Texas
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Initial Costs, Buildings and Lease-hold Interests and Improvements	635
Gross Amounts at which Carried at Close of Period, Buildings and Lease-hold Interests and Improvements	424
Buildings | Zuma Fun Center South Houston, Texas
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Initial Costs, Buildings and Lease-hold Interests and Improvements	558
Gross Amounts at which Carried at Close of Period, Buildings and Lease-hold Interests and Improvements	404
Buildings | Brighton Ski Resort Brighton, Utah
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Initial Costs, Buildings and Lease-hold Interests and Improvements	11,233
Gross Amounts at which Carried at Close of Period, Buildings and Lease-hold Interests and Improvements	13,264
Buildings | Northstar At Tahoe Resort Lake Tahoe, California
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Initial Costs, Buildings and Lease-hold Interests and Improvements	8,534
Gross Amounts at which Carried at Close of Period, Buildings and Lease-hold Interests and Improvements	16,035
Buildings | Sierra At Tahoe Resort South Lake Tahoe, California
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Initial Costs, Buildings and Lease-hold Interests and Improvements	8,574
Gross Amounts at which Carried at Close of Period, Buildings and Lease-hold Interests and Improvements	9,513
Buildings | Loon Mountain Resort Lincoln, New Hampshire
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Initial Costs, Buildings and Lease-hold Interests and Improvements	4,673
Gross Amounts at which Carried at Close of Period, Buildings and Lease-hold Interests and Improvements	6,233
Buildings | Summit-at-Snoqualmie Resort Snoqualmie Pass, Washington
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Initial Costs, Buildings and Lease-hold Interests and Improvements	8,802
Gross Amounts at which Carried at Close of Period, Buildings and Lease-hold Interests and Improvements	11,152
Buildings | White Water Bay Oklahoma City, Oklahoma
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Initial Costs, Buildings and Lease-hold Interests and Improvements	5,461
Gross Amounts at which Carried at Close of Period, Buildings and Lease-hold Interests and Improvements	6,080
Buildings | Splashtown Houston, Texas
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Initial Costs, Buildings and Lease-hold Interests and Improvements	1,609
Gross Amounts at which Carried at Close of Period, Buildings and Lease-hold Interests and Improvements	5,081
Buildings | Waterworld Concord California
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Initial Costs, Buildings and Lease-hold Interests and Improvements	728
Gross Amounts at which Carried at Close of Period, Buildings and Lease-hold Interests and Improvements	1,012
Buildings | Darien Lake Buffalo, New York
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Initial Costs, Buildings and Lease-hold Interests and Improvements	21,967
Gross Amounts at which Carried at Close of Period, Buildings and Lease-hold Interests and Improvements	16,156
Buildings | Frontier City Oklahoma City, Oklahoma
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Initial Costs, Buildings and Lease-hold Interests and Improvements	7,518
Gross Amounts at which Carried at Close of Period, Buildings and Lease-hold Interests and Improvements	6,640
Buildings | Wild Waves And Enchanted Village Seattle, Washington
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Initial Costs, Buildings and Lease-hold Interests and Improvements	2,837
Gross Amounts at which Carried at Close of Period, Buildings and Lease-hold Interests and Improvements	1,088
Buildings | Magic Springs And Crystal Falls Hot Springs, Arkansas
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Initial Costs, Buildings and Lease-hold Interests and Improvements	10,409
Gross Amounts at which Carried at Close of Period, Buildings and Lease-hold Interests and Improvements	5,348
Buildings | Mountain High Resort Wrightwood, California
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Initial Costs, Buildings and Lease-hold Interests and Improvements	7,571
Gross Amounts at which Carried at Close of Period, Buildings and Lease-hold Interests and Improvements	5,946
Buildings | Sugarloaf Mountain Resort Carrabassett Valley, Maine
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Initial Costs, Buildings and Lease-hold Interests and Improvements	5,658
Gross Amounts at which Carried at Close of Period, Buildings and Lease-hold Interests and Improvements	8,034
Buildings | Sunday River Resort Newry, Maine
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Initial Costs, Buildings and Lease-hold Interests and Improvements	12,256
Gross Amounts at which Carried at Close of Period, Buildings and Lease-hold Interests and Improvements	13,939
Buildings | The Northstar Commercial Village Lake Tahoe, California
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Initial Costs, Buildings and Lease-hold Interests and Improvements	33,932
Gross Amounts at which Carried at Close of Period, Buildings and Lease-hold Interests and Improvements	37,705
Buildings | Myrtle Waves Myrtle Beach South Carolina
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Initial Costs, Buildings and Lease-hold Interests and Improvements	5,875
Gross Amounts at which Carried at Close of Period, Buildings and Lease-hold Interests and Improvements	2,727
Buildings | Mount Sunapee Mountain Resort Newbury, New Hampshire
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Initial Costs, Buildings and Lease-hold Interests and Improvements	5,253
Gross Amounts at which Carried at Close of Period, Buildings and Lease-hold Interests and Improvements	5,646
Buildings | Okemo Mountain Resort Ludlow, Vermont
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Initial Costs, Buildings and Lease-hold Interests and Improvements	16,684
Gross Amounts at which Carried at Close of Period, Buildings and Lease-hold Interests and Improvements	17,362
Buildings | Crested Butte Mountain Resort Mt Crested Butte, Colorado
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Initial Costs, Buildings and Lease-hold Interests and Improvements	11,188
Gross Amounts at which Carried at Close of Period, Buildings and Lease-hold Interests and Improvements	12,715
Buildings | Jiminy Peak Mountain Resort Hancock, Massachusetts
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Initial Costs, Buildings and Lease-hold Interests and Improvements	8,164
Gross Amounts at which Carried at Close of Period, Buildings and Lease-hold Interests and Improvements	8,474
Buildings | Hawaiian Waters Kapolei, Hawaii
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Initial Costs, Buildings and Lease-hold Interests and Improvements	3,458
Gross Amounts at which Carried at Close of Period, Buildings and Lease-hold Interests and Improvements	3,088
Buildings | Pacific Park Santa Monica, California
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Initial Costs, Buildings and Lease-hold Interests and Improvements	1,575
Gross Amounts at which Carried at Close of Period, Buildings and Lease-hold Interests and Improvements	2,256
Buildings | Stevens Pass Skykomish, King And Chelan County, WA
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Initial Costs, Buildings and Lease-hold Interests and Improvements	5,280
Gross Amounts at which Carried at Close of Period, Buildings and Lease-hold Interests and Improvements	4,865
Buildings | Rapids Waterpark West Palm Beach, Florida
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Initial Costs, Buildings and Lease-hold Interests and Improvements	9,044
Gross Amounts at which Carried at Close of Period, Buildings and Lease-hold Interests and Improvements	9,427
Buildings | Soak City Palm Springs, California
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Initial Costs, Buildings and Lease-hold Interests and Improvements	3,259
Gross Amounts at which Carried at Close of Period, Buildings and Lease-hold Interests and Improvements	1,635
Buildings | Phoenix Wet n Wild Waterpark Phoenix, Arizona
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Initial Costs, Buildings and Lease-hold Interests and Improvements	4,748
Gross Amounts at which Carried at Close of Period, Buildings and Lease-hold Interests and Improvements	$ 4,139

Schedule III-Real Estate and 87

Schedule III-Real Estate and Accumulated Depreciation (Summary of Transactions in Real Estate and Accumulated Depreciation) (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Real Estate
Beginning Balance	$ 786,244	$ 1,138,108	$ 2,142,067
Acquisitions	100,687		169,417
Dispositions and assets held for sale	(88,461)	(271,464)	(1,108,581)
Impairment provision		(80,400)	(64,795)
Ending Balance	798,470	786,244	1,138,108
Accumulated Depreciation
Beginning Balance	(255,883)	(279,541)	(415,216)
Depreciation	(29,282)	(36,866)	(64,652)
Accumulated depreciation on dispositions and assets held for sale		60,524	200,327
Ending Balance	$ (285,165)	$ (255,883)	$ (279,541)