Document And Entity Information
Document And Entity Information - USD ($) | 12 Months Ended | ||
Dec. 31, 2017 | Feb. 16, 2018 | Jun. 30, 2017 | |
Document and Entity Information [Abstract] | |||
Entity Registrant Name | Apple Hospitality REIT, Inc. | ||
Document Type | 10-K | ||
Current Fiscal Year End Date | --12-31 | ||
Entity Common Stock, Shares Outstanding | 230,204,289 | ||
Entity Public Float | $ 3,917,705,000 | ||
Amendment Flag | false | ||
Entity Central Index Key | 1,418,121 | ||
Entity Current Reporting Status | Yes | ||
Entity Voluntary Filers | No | ||
Entity Filer Category | Large Accelerated Filer | ||
Entity Well-known Seasoned Issuer | Yes | ||
Document Period End Date | Dec. 31, 2017 | ||
Document Fiscal Year Focus | 2,017 | ||
Document Fiscal Period Focus | FY |
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 |
Assets | ||
Investment in real estate, net of accumulated depreciation of $731,284 and $557,597, respectively | $ 4,793,159 | $ 4,823,489 |
Assets held for sale | 0 | 39,000 |
Restricted cash-furniture, fixtures and other escrows | 29,791 | 29,425 |
Due from third party managers, net | 31,457 | 31,460 |
Other assets, net | 47,931 | 56,509 |
Total Assets | 4,902,338 | 4,979,883 |
Liabilities | ||
Revolving credit facility | 106,900 | 270,000 |
Term loans | 656,279 | 570,934 |
Mortgage debt | 459,017 | 497,029 |
Accounts payable and other liabilities | 109,057 | 124,856 |
Total Liabilities | 1,331,253 | 1,462,819 |
Shareholders’ Equity | ||
Preferred stock, authorized 30,000,000 shares; none issued and outstanding | 0 | 0 |
Common stock, no par value, authorized 800,000,000 shares; issued and outstanding 229,961,548 and 222,938,648 shares, respectively | 4,588,188 | 4,453,205 |
Accumulated other comprehensive income | 9,778 | 4,589 |
Distributions greater than net income | (1,026,881) | (940,730) |
Total Shareholders’ Equity | 3,571,085 | 3,517,064 |
Total Liabilities and Shareholders’ Equity | $ 4,902,338 | $ 4,979,883 |
Consolidated Balance Sheets (Pa
Consolidated Balance Sheets (Parentheticals) - USD ($) $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 |
Investment in real estate accumulated depreciation (in Dollars) | $ 731,284 | $ 557,597 |
Preferred stock, shares authorized | 30,000,000 | 30,000,000 |
Preferred stock, shares issued | 0 | 0 |
Preferred stock, shares outstanding | 0 | 0 |
Common stock, shares authorized | 800,000,000 | 800,000,000 |
Common stock, shares issued | 229,961,548 | 222,938,648 |
Common stock, shares outstanding | 229,961,548 | 222,938,648 |
Consolidated Statements of Oper
Consolidated Statements of Operations and Comprehensive Income - USD ($) shares in Thousands, $ in Thousands | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Revenues: | |||
Room | $ 1,143,987 | $ 956,119 | $ 821,733 |
Other | 94,635 | 84,906 | 76,581 |
Total revenue | 1,238,622 | 1,041,025 | 898,314 |
Expenses: | |||
Operating | 310,756 | 262,432 | 227,915 |
Hotel administrative | 99,745 | 81,099 | 69,526 |
Sales and marketing | 100,877 | 82,663 | 71,009 |
Utilities | 41,909 | 35,585 | 32,668 |
Repair and maintenance | 48,463 | 41,249 | 36,886 |
Franchise fees | 52,930 | 44,225 | 38,003 |
Management fees | 42,722 | 35,586 | 31,074 |
Property taxes, insurance and other | 69,391 | 56,860 | 46,023 |
Ground lease | 11,313 | 10,409 | 9,996 |
General and administrative | 26,341 | 17,032 | 19,552 |
Transaction and litigation costs (reimbursements) | (2,586) | 34,989 | 7,181 |
Loss on impairment of depreciable real estate assets | 45,875 | 5,471 | 45,000 |
Depreciation | 176,499 | 148,163 | 127,449 |
Total expenses | 1,024,235 | 855,763 | 762,282 |
Operating income | 214,387 | 185,262 | 136,032 |
Interest and other expense, net | (47,343) | (40,026) | (33,132) |
Gain (loss) on sale of real estate | 16,295 | (153) | 15,286 |
Income before income taxes | 183,339 | 145,083 | 118,186 |
Income tax expense | (847) | (431) | (898) |
Net income | 182,492 | 144,652 | 117,288 |
Other comprehensive income (loss): | |||
Interest rate derivatives | 5,189 | 6,646 | (1,546) |
Comprehensive income | $ 187,681 | $ 151,298 | $ 115,742 |
Basic and diluted net income per common share (in Dollars per share) | $ 0.82 | $ 0.76 | $ 0.65 |
Weighted average common shares outstanding - basic and diluted (in Shares) | 223,526 | 190,856 | 180,261 |
Consolidated Statements of Shar
Consolidated Statements of Shareholders’ Equity - USD ($) shares in Thousands, $ in Thousands | Common Stock [Member] | Accumulated Other Comprehensive Income (Loss) [Member] | Accumulated Distributions in Excess of Net Income [Member] | Total |
Balance at Dec. 31, 2014 | $ 3,737,328 | $ (511) | $ (722,193) | $ 3,014,624 |
Balance (in Shares) at Dec. 31, 2014 | 186,910 | |||
Share based compensation, net | $ 823 | 0 | 0 | 823 |
Share based compensation, net (in Shares) | 44 | |||
Common shares repurchased | $ (237,567) | 0 | 0 | (237,567) |
Common shares repurchased (in Shares) | (12,586) | |||
Interest rate derivatives | $ 0 | (1,546) | 0 | (1,546) |
Net income | 0 | 0 | 117,288 | 117,288 |
Distributions declared and paid to shareholders | 0 | 0 | (229,127) | (229,127) |
Distribution declared and payable to shareholders | 0 | 0 | (17,437) | (17,437) |
Balance at Dec. 31, 2015 | $ 3,500,584 | (2,057) | (851,469) | 2,647,058 |
Balance (in Shares) at Dec. 31, 2015 | 174,368 | |||
Share based compensation, net | $ 5,611 | 0 | 0 | 5,611 |
Share based compensation, net (in Shares) | 284 | |||
Issuance of common shares, net | $ 954,879 | 0 | 0 | 954,879 |
Issuance of common shares, net (in Shares) | 48,730 | |||
Common shares repurchased | $ (7,869) | 0 | 0 | (7,869) |
Common shares repurchased (in Shares) | (443) | |||
Interest rate derivatives | $ 0 | 6,646 | 0 | 6,646 |
Net income | 0 | 0 | 144,652 | 144,652 |
Distributions declared to shareholders | 0 | 0 | (233,913) | (233,913) |
Balance at Dec. 31, 2016 | $ 4,453,205 | 4,589 | (940,730) | 3,517,064 |
Balance (in Shares) at Dec. 31, 2016 | 222,939 | |||
Share based compensation, net | $ 2,178 | 0 | 0 | 2,178 |
Share based compensation, net (in Shares) | 115 | |||
Issuance of common shares, net | $ 132,805 | 0 | 0 | 132,805 |
Issuance of common shares, net (in Shares) | 6,908 | |||
Interest rate derivatives | $ 0 | 5,189 | 0 | 5,189 |
Net income | 0 | 0 | 182,492 | 182,492 |
Distributions declared to shareholders | 0 | 0 | (268,643) | (268,643) |
Balance at Dec. 31, 2017 | $ 4,588,188 | $ 9,778 | $ (1,026,881) | $ 3,571,085 |
Balance (in Shares) at Dec. 31, 2017 | 229,962 |
Consolidated Statements of Sha6
Consolidated Statements of Shareholders’ Equity (Parentheticals) | May 18, 2015 | Dec. 31, 2017$ / shares | Dec. 31, 2016$ / shares | Dec. 31, 2015$ / shares |
Reverse share split | 0.50 | 0.50 | ||
Distributions declared and paid to shareholders | $ 1.27 | |||
Distribution declared and payable to shareholder | $ 0.10 | |||
Distributions declared to shareholders | $ 1.20 | $ 1.20 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Cash flows from operating activities: | |||
Net income | $ 182,492 | $ 144,652 | $ 117,288 |
Adjustments to reconcile net income to cash provided by operating activities: | |||
Depreciation | 176,499 | 148,163 | 127,449 |
Loss on impairment of depreciable real estate assets | 45,875 | 5,471 | 45,000 |
(Gain) loss on sale of real estate | (16,295) | 153 | (15,286) |
Other non-cash expenses, net | 7,120 | 6,747 | 6,015 |
Changes in operating assets and liabilities, net of amounts acquired or assumed with acquisitions: | |||
Decrease (increase) in due from third party managers, net | 17 | 5,164 | (1,827) |
Decrease (increase) in other assets, net | 11,905 | (9,912) | (644) |
Increase (decrease) in accounts payable and other liabilities | (22,872) | 31,596 | 3,057 |
Net cash provided by operating activities | 384,741 | 332,034 | 281,052 |
Cash flows from investing activities: | |||
Cash consideration in Apple Ten merger | 0 | (93,590) | 0 |
Acquisition of hotel properties, net | (162,903) | (23,994) | (233,078) |
Deposits and other disbursements for potential acquisitions | (1,359) | (510) | (563) |
Capital improvements and development costs | (63,305) | (65,128) | (62,260) |
Decrease (increase) in capital improvement reserves | (1,036) | 3,625 | 8,451 |
Net proceeds from sale of real estate | 69,311 | 9,760 | 205,165 |
Net cash used in investing activities | (159,292) | (169,837) | (82,285) |
Cash flows from financing activities: | |||
Net proceeds (disbursements) related to issuance of common shares | 132,993 | (1,207) | 0 |
Repurchases of common shares | 0 | (7,869) | (237,567) |
Repurchases of common shares to satisfy employee withholding requirements | (692) | (1,459) | 0 |
Distributions paid to common shareholders | (267,917) | (229,056) | (229,127) |
Net proceeds from (payments on) revolving credit facility | (163,100) | 155,200 | 23,200 |
Payments on extinguished credit facility | 0 | (111,100) | 0 |
Proceeds from term loans | 85,000 | 150,000 | 425,000 |
Repayment of term loan | 0 | 0 | (100,000) |
Proceeds from mortgage debt | 30,000 | 94,000 | 38,000 |
Payments of mortgage debt | (39,920) | (207,694) | (111,218) |
Financing costs | (1,813) | (3,012) | (7,055) |
Net cash used in financing activities | (225,449) | (162,197) | (198,767) |
Net change in cash and cash equivalents | 0 | 0 | 0 |
Cash and cash equivalents, beginning of period | 0 | 0 | 0 |
Cash and cash equivalents, end of period | 0 | 0 | 0 |
Supplemental cash flow information: | |||
Interest paid | 46,885 | 41,884 | 35,019 |
Income taxes paid | 877 | 1,104 | 1,021 |
Supplemental disclosure of noncash investing and financing activities: | |||
Stock consideration in Apple Ten merger (see note 2) | 0 | 956,086 | 0 |
Mortgage debt assumed in acquisition of hotel properties | 0 | 0 | 22,399 |
Mortgage debt assumed by buyer upon sale of real estate | 27,073 | 0 | 0 |
Accrued distribution to common shareholders | $ 23,020 | $ 22,294 | $ 17,437 |
Organization and Summary of Sig
Organization and Summary of Significant Accounting Policies | 12 Months Ended |
Dec. 31, 2017 | |
Accounting Policies [Abstract] | |
Organization, Consolidation, Basis of Presentation, Business Description and Accounting Policies [Text Block] | Note 1 Organization and Summary of Significant Accounting Policies Organization Apple Hospitality REIT, Inc., formed in November 2007 as a Virginia corporation, together with its wholly-owned subsidiaries (the “Company”), is a self-advised real estate investment trust (“REIT”) that invests in income-producing real estate, primarily in the lodging sector, in the United States. The Company’s fiscal year end is December 31. The Company has no foreign operations or assets and its operating structure includes only one reportable segment. The consolidated financial statements include the accounts of the Company and its subsidiaries. All intercompany accounts and transactions have been eliminated. Although the Company has interests in potential variable interest entities through its purchase commitments, it is not the primary beneficiary as the Company does not have any elements of power in the decision making process of these entities, and therefore does not consolidate the entities. As of December 31, 2017, the Company owned 239 hotels with an aggregate of 30,322 rooms located in 34 states. All information related to the number of rooms included in these notes to the consolidated financial statements and Schedule III - Real Estate and Accumulated Depreciation listed in the Index at Item 15(2) has not been audited. The Company’s common shares are listed on the New York Stock Exchange (“NYSE”) under the ticker symbol “APLE.” The Company has elected to be treated as a REIT for federal income tax purposes. The Company has a wholly-owned taxable REIT subsidiary (or subsidiaries thereof) (collectively, the “Lessee”), which leases all of the Company’s hotels. Cash and Cash Equivalents Cash and cash equivalents consist of highly liquid investments with original maturities of three months or less. The fair market value of cash and cash equivalents approximates their carrying value. Cash balances may at times exceed federal depository insurance limits. Restricted Cash Restricted cash includes reserves for debt service, real estate taxes, and insurance, and reserves for furniture, fixtures, and equipment replacements of up to 5% of property revenue for certain hotels, as required by certain management or mortgage debt agreement restrictions and provisions. The fair market value of restricted cash approximates its carrying value. Investment in Real Estate and Related Depreciation Real estate is stated at cost, net of depreciation. Repair and maintenance costs are expensed as incurred while significant improvements, renovations, and replacements are capitalized. Depreciation is computed using the straight-line method over average estimated useful lives of the assets, which are generally 39 years for buildings, 10 to 20 years for franchise fees, 10 years for major improvements and three to seven years for furniture and equipment. The Company considers expenditures to be capital in nature based on the following criteria: (1) for a single asset, the cost must be at least $500, including all normal and necessary costs to place the asset in service, and the useful life must be at least one year; (2) for group purchases of 10 or more identical assets, the unit cost for each asset must be at least $50, including all normal and necessary costs to place the asset in service, and the useful life must be at least one year; and (3) for major repairs to a single asset, the repair must be at least $2,500 and the useful life of the asset must be substantially extended. Upon acquisition of real estate properties, the Company estimates the fair value of acquired tangible assets (consisting of land, buildings and improvements, and furniture, fixtures and equipment) and identified intangible assets and liabilities, including in-place leases, and assumed debt based on evaluation of information and estimates available at that date. Fair values for these assets are not directly observable and estimates are based on comparables and other information which is subjective in nature. The Company has not assigned any value to management contracts and franchise agreements as such contracts are generally at current market rates based on the remaining terms of the contracts and any other value attributable to these contracts is not considered material. Prior to January 1, 2017, the Company’s acquisitions of hotel properties were accounted for as acquisitions of existing businesses, and therefore all transaction costs associated with the acquisitions, including title, legal, accounting, brokerage commissions and other related costs, were expensed as incurred. Beginning January 1, 2017, acquisitions of hotel properties have been and will generally be accounted for as acquisitions of a group of assets, with costs incurred to effect an acquisition being capitalized as part of the cost of the assets acquired, instead of accounted for separately as expenses in the period that they are incurred. The Company records impairment losses on hotel properties used in operations if indicators of impairment are present, and the sum of the undiscounted cash flows estimated to be generated by the respective properties over their estimated remaining useful life, based on historical and industry data, is less than the properties’ carrying amount. Indicators of impairment include a property with current or potential losses from operations, when it becomes more likely than not that a property will be sold before the end of its previously estimated useful life or when events, trends, contingencies or changes in circumstances indicate that a triggering event has occurred and an asset’s carrying value may not be recoverable. The Company monitors its properties on an ongoing basis by analytically reviewing financial performance and considers each property individually for purposes of reviewing for indicators of impairment. As many indicators of impairment are subjective, such as general economic and market declines, the Company also prepares an annual recoverability analysis for each of its properties to assist with its evaluation of impairment indicators. The analysis compares each property’s net book value to each property’s estimated operating income using current operating results for each stabilized property and projected stabilized operating results based on the property’s market for properties that recently opened, were recently renovated or experienced other short-term business disruption. The Company’s planned initial hold period for each property is generally 39 years. If events or circumstances change, such as the Company’s intended hold period for a property or if the operating performance of a property declines substantially for an extended period of time, the Company’s carrying value for a particular property may not be recoverable, and an impairment loss will be recorded. Impairment losses are measured as the difference between the asset’s fair value and its carrying value. The Company’s ongoing analyses and annual recoverability analyses have not identified any impairment losses other than the losses on impairment of three properties recorded in 2017, one property recorded in 2016 and one property recorded in 2015 totaling approximately $45.9 million, $5.5 million and $45.0 million, respectively, as discussed in Note 3. Assets Held for Sale The Company classifies assets as held for sale when a binding agreement to sell the property has been signed under which the buyer has committed a significant amount of nonrefundable cash, no significant contingencies exist which could prevent the transaction from being completed in a timely manner, and the sale is expected to close within one year. If these criteria are met, the Company will cease recording depreciation and will record an impairment charge if the fair value less costs to sell is less than the carrying amount of the disposal group. The Company will generally classify the impairment charge, together with the related operating results, as continuing operations in the Company’s consolidated statements of operations and classify the assets and related liabilities as held for sale in the Company’s consolidated balance sheets. If the Company’s plan of sale changes and the Company subsequently decides not to sell a property that is classified as held for sale, the property will be reclassified as held and used in the period the change occurs. As of December 31, 2017, the Company did not have any assets classified as held for sale. As of December 31, 2016, the Company had one hotel classified as held for sale, which was sold to an unrelated party in April 2017, discussed further in Notes 3 and 4. Revenue Recognition Hotel revenue is recognized as earned, which is generally defined as the date upon which a guest occupies a room or utilizes the hotel’s services. Comprehensive Income Comprehensive income includes net income and other comprehensive income (loss), which is comprised of unrealized gains (losses) and other adjustments resulting from hedging activity. Net Income Per Common Share Basic net income per common share is computed based upon the weighted average number of shares outstanding during the year. Diluted net income per common share is calculated after giving effect to all potential common shares that were dilutive and outstanding for the year. Basic and dilutive net income per common share were the same for each of the years presented. Income Taxes The Company is operated as, and has elected to be taxed as, a REIT under Sections 856 to 860 of the Internal Revenue Code. Earnings and profits, which will determine the taxability of distributions to shareholders, will differ from income reported for financial reporting purposes primarily due to the differences for federal income tax purposes in the carrying value (basis) of the investment in properties and estimated useful lives used to compute depreciation, transaction and litigation costs (reimbursements), straight-line ground lease expense, amortization of favorable and unfavorable leases, loss on impairment of depreciable real estate assets and gain (loss) on sale of real estate assets. The characterization of 2017 paid distributions of $1.20 per share for tax purposes was 94% ordinary income and 6% return of capital. The characterization of 2016 paid distributions of $1.20 per share for tax purposes was 76% ordinary income and 24% return of capital. The characterization of 2015 paid distributions of $1.27 per share for tax purposes was 72% ordinary income, 15% return of capital, 8% unrecaptured Section 1250 gain and 5% long-term capital gain. The Lessee, as a taxable REIT subsidiary of the Company, is subject to federal and state income taxes. Due to historical cumulative operating losses, the taxable REIT subsidiary did not incur federal income tax for the three years ended December 31, 2017 and recorded a valuation allowance against the entire deferred asset for all periods presented. The total net operating loss carry forward for federal income tax purposes was approximately $95 million as of December 31, 2017, $94 million as of December 31, 2016 and $100 million as of December 31, 2015. The net operating losses expire beginning in 2028. There are no material differences between the book and tax cost basis of the Company’s assets and liabilities, except for the carrying value (basis) of the investment in properties. The Company’s income tax expense as shown in the consolidated statements of operations primarily includes franchise and income taxes at the state jurisdiction level, which do not have any associated material deferred taxes. As of December 31, 2017, the tax years that remain subject to examination by major tax jurisdictions generally include 2014-2017. On December 22, 2017, the Tax Cuts and Jobs Act (the “Act”) was signed into law, and is effective as of January 1, 2018. Based on the Company’s initial assessment of the Act, it is not expected to have a material impact on the Company’s consolidated financial statements. Sales and Marketing Costs Sales and marketing costs are expensed when incurred. These costs represent the expense for franchise advertising and reservation systems under the terms of the hotel management and franchise agreements and general and administrative expenses that are directly attributable to advertising and promotion. Use of Estimates The preparation of the financial statements in conformity with United States generally accepted accounting principles requires management to make estimates and assumptions that affect the amounts reported in the consolidated financial statements and accompanying notes. Actual results could differ from those estimates. Reclassifications Certain prior year amounts in the consolidated financial statements have been reclassified to conform to the current year presentation with no effect on previously reported net income, shareholders’ equity or cash flows. Accounting Standards Recently Adopted In January 2017, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2017-01, Business Combinations (Topic 805), Clarifying the Definition of a Business In March 2016, the FASB issued ASU No. 2016-09, Compensation – Stock Compensation (Topic 718), Improvements to Employee Share-Based Payment Accounting, Accounting Standards Recently Issued In May 2014, the FASB issued ASU No. 2014-09, Revenue from Contracts with Customers (Topic 606) Revenue from Contracts with Customers (Topic 606) Revenue from Contracts with Customers (Topic 606): Deferral of the Effective Date, In February 2016, the FASB issued ASU No. 2016-02, Leases (Topic 842) The standard requires a modified retrospective transition approach for all leases existing at, or entered into after, the date of initial application, with an option to use certain transition relief. In August 2016, the FASB issued ASU No. 2016-15, Statement of Cash Flows (Topic 230), Classification of Certain Cash Receipts and Cash Payments In November 2016, the FASB issued ASU No. 2016-18, Statement of Cash Flows (Topic 230), Restricted Cash In February 2017, the FASB issued ASU No. 2017-05, Other Income—Gains and Losses from the Derecognition of Nonfinancial Assets (Subtopic 610-20), Clarifying the Scope of Asset Derecognition Guidance and Accounting for Partial Sales of Nonfinancial Assets Accounting Standards Codification (“ASC”) he adoption of this standard is not expected to have a material impact on the Company’s consolidated financial statements. In August 2017, the FASB issued ASU No. 2017-12, Derivatives and Hedging (Topic 815), Targeted Improvements to Accounting for Hedging Activities adoption of this standard is not expected to have a material impact on the Company’s consolidated financial statements. |
Merger with Apple REIT Ten, Inc
Merger with Apple REIT Ten, Inc. | 12 Months Ended |
Dec. 31, 2017 | |
Disclosure Text Block Supplement [Abstract] | |
Mergers, Acquisitions and Dispositions Disclosures [Text Block] | Note 2 Merger with Apple REIT Ten, Inc. Effective September 1, 2016, the Company completed its merger with Apple REIT Ten, Inc. (“Apple Ten”) (the “merger” or “Apple Ten merger”), which merger and related transaction proposals were approved by each company’s respective shareholders, as applicable, on August 31, 2016. Pursuant to the Agreement and Plan of Merger entered into on April 13, 2016, as amended on July 13, 2016 (the “Merger Agreement”), Apple Ten merged with and into a wholly-owned subsidiary of the Company (“Acquisition Sub”), at which time the separate corporate existence of Apple Ten ceased and Acquisition Sub became the surviving corporation in the merger. Acquisition Sub was formed solely for the purpose of engaging in the merger and had not conducted any prior activities. As a result of the merger, the Company acquired the business of Apple Ten, a REIT, which immediately prior to the effective time of the merger, owned 56 hotels located in 17 states with an aggregate of 7,209 rooms, and through its wholly-owned subsidiary, assumed all of Apple Ten’s assets and liabilities at closing. The Company accounted for the merger in accordance with ASC 805, Business Combinations As more fully described in Note 5, effective September 1, 2016, upon completion of the merger, the Company assumed approximately $145.7 million in mortgage debt, prior to any fair value adjustments, secured by nine properties. The Company also assumed the outstanding balance on Apple Ten’s credit facility totaling $111.1 million, which was terminated and repaid in full on September 1, 2016 with borrowings on the Company’s revolving credit facility. In connection with the issuance of the approximately 48.7 million common shares to effect the merger, the Company incurred approximately $1.2 million in issuance costs including legal, accounting and reporting services. These costs were recorded by the Company as a reduction of shareholders’ equity. As contemplated in the Merger Agreement, in connection with the completion of the merger, the advisory and related party arrangements with respect to the Company, Apple Ten and Apple Ten’s advisors, as described in more detail in Note 7, were terminated. The following table summarizes the Company’s purchase price allocation for the merger, which represents its best estimate of the fair values of the assets acquired and liabilities assumed on September 1, 2016, the effective date of the merger (in thousands): Purchase Price Allocation Assets: Land $ 150,780 Building and improvements 1,066,379 Furniture, fixtures and equipment 75,345 Franchise fees 2,917 Investment in real estate 1,295,421 Restricted cash, due from third party managers and other assets 33,579 Total assets 1,329,000 Liabilities: Credit facility 111,100 Mortgage debt 151,885 Accounts payable and other liabilities 16,339 Total liabilities 279,324 Fair value estimate of net assets acquired (total consideration paid) $ 1,049,676 The allocation of the purchase price required a significant amount of judgment and was based upon valuations and other analyses described below that were finalized during the fourth quarter of 2016. The Company engaged a valuation firm to assist in the analysis. The methodologies and significant inputs and assumptions used in deriving estimates of fair value vary and are based on the nature of the tangible or intangible asset acquired or liability assumed. The fair value of land, building and improvements, furniture, fixtures and equipment, and identifiable intangible assets was developed based on the cost approach, market approach or income approach depending on available information and compared to a secondary approach when possible. The fair value of debt was estimated based on contractual future cash flows discounted using borrowing spreads and market interest rates that would be available to the Company as of the acquisition date for the issuance of debt with similar terms and remaining maturities. Significant inputs and assumptions associated with these approaches included estimates of future operating cash flows and discount rates based on an evaluation of both observable market data (categorized as Level 2 inputs under the fair value hierarchy) and unobservable inputs that reflect the Company’s own internal assumptions and calculations (categorized as Level 3 inputs under the fair value hierarchy). No goodwill was recorded in connection with the merger. The following unaudited pro forma information for the years ended December 31, 2017 and 2016, is presented as if the merger, effective September 1, 2016, had occurred on January 1, 2016, and is based on assumptions and estimates considered appropriate by the Company. The pro forma information is provided for illustrative purposes only and does not necessarily reflect what the operating results would have been had the merger been completed on January 1, 2016, nor is it necessarily indicative of future operating results. The pro forma information does not give effect to any cost synergies or other operating efficiencies that could result from the merger. Amounts are in thousands except per share data. Year Ended December 31, 2017 2016 Total revenue $ 1,238,622 $ 1,232,191 Net income $ 179,906 $ 210,311 Basic and diluted net income per common share $ 0.80 $ 0.94 Weighted average common shares outstanding - basic and diluted 223,526 223,343 For purposes of calculating these pro forma amounts, merger transaction and litigation costs (reimbursements) totaling approximately $(2.6) million and $29.2 million for the years ended December 31, 2017 and 2016, included in the Company’s consolidated statements of operations, were excluded from the pro forma amounts since these costs are attributable to the merger and related transactions and do not have an ongoing impact to the statements of operations. |
Investment in Real Estate
Investment in Real Estate | 12 Months Ended |
Dec. 31, 2017 | |
Real Estate [Abstract] | |
Real Estate Disclosure [Text Block] | Note 3 Investment in Real Estate The Company’s investment in real estate consisted of the following (in thousands): December 31, December 31, 2017 2016 Land $ 720,465 $ 707,878 Building and Improvements 4,362,929 4,270,095 Furniture, Fixtures and Equipment 428,734 391,421 Franchise Fees 12,315 11,692 5,524,443 5,381,086 Less Accumulated Depreciation (731,284 ) (557,597 ) Investment in Real Estate, net $ 4,793,159 $ 4,823,489 As of December 31, 2017, the Company owned 239 hotels with an aggregate of 30,322 rooms located in 34 states. The Company leases all of its hotels to its wholly-owned taxable REIT subsidiary (or a subsidiary thereof) under master hotel lease agreements. 2017 and 2016 Acquisitions During 2017, the Company acquired six hotels. The following table sets forth the location, brand, manager, date acquired, number of rooms and gross purchase price for each hotel acquired during 2017. All dollar amounts are in thousands. City State Brand Manager Date Acquired Rooms Gross Purchase Price (a) Fort Worth TX Courtyard LBA 2/2/2017 124 $ 18,034 Birmingham (b) AL Hilton Garden Inn LBA 9/12/2017 104 19,162 Birmingham (b) AL Home2 Suites LBA 9/12/2017 106 19,276 Portland ME Residence Inn Pyramid 10/13/2017 179 55,750 Salt Lake City UT Residence Inn Huntington 10/20/2017 136 25,500 Anchorage AK Home2 Suites Stonebridge 12/1/2017 135 24,048 784 $ 161,770 (a) The acquisitions of these hotel properties were accounted for as acquisitions of a group of assets, with costs incurred to effect the acquisitions, which were not significant, capitalized as part of the cost of the assets acquired. The gross purchase price excludes capitalized transaction costs. At the date of purchase, the purchase price for each of these properties was funded through the Company’s revolving credit facility. (b) The Hilton Garden Inn and Home2 Suites hotels in Birmingham, AL are part of an adjoining two-hotel complex located on the same site. For the six hotels acquired during 2017, the amount of revenue and operating income included in the Company’s consolidated statement of operations from the date of acquisition through December 31, 2017 was approximately $8.9 million and $1.4 million, respectively. On July 1, 2016, the Company closed on the purchase of a newly constructed 128-room Home2 Suites hotel in Atlanta, Georgia, the same day the hotel opened for business, for a purchase price of approximately $24.6 million. The Company used borrowings under its revolving credit facility to purchase the hotel. Additionally, as described in Note 2, effective September 1, 2016, the Company completed the merger with Apple Ten, which added 56 hotels, located in 17 states, with an aggregate of 7,209 rooms to the Company’s real estate portfolio. As shown in the table setting forth the purchase price allocation for the merger in Note 2, the total real estate value of the merger was estimated to be approximately $1.3 billion. The Company accounted for the purchase of these hotels in accordance with ASC 805, Business Combinations Loss on Impairment of Depreciable Real Estate Assets During the years ended December 31, 2017, 2016 and 2015, the Company recorded impairment losses totaling approximately $45.9 million, $5.5 million and $45.0 million. During the fourth quarters of 2017 and 2015, upon finalizing its property level budgets for the following years and, in 2017, experiencing delays and increased costs in leasing the property’s retail rental space, the Company identified indicators of impairment at its Renaissance hotel in New York, New York, due to declines in the current and forecasted cash flows from the property. In each instance, the Company performed a test of recoverability and determined that the carrying value of the hotel exceeded its estimated undiscounted future cash flows. The shortfalls in estimated cash flows were triggered by a combination of (a) declines in existing and forecasted hotel market conditions in New York, (b) new supply in the market and (c) the loss of retail tenants and the extended period of time and incremental costs it has taken and is anticipated to take to re-lease the available retail space. In addition, during 2015, the cost of transitioning to a new management company and increases in real estate taxes impacted the shortfall. Upon concluding that the carrying cost exceeded the estimated undiscounted future cash flows, the Company adjusted the carrying value of the hotel (approximately $40 million and $86 million as of December 31, 2017 and 2015, respectively) to its estimated fair market value (approximately $2 million and $41 million as of December 31, 2017 and 2015, respectively), resulting in impairment losses of approximately $38.0 million in 2017 and $45.0 million in 2015. The Company engaged a third party to assist with the analysis of the fair market values. The fair market values of the hotel were estimated by using the income and market approaches, as applicable, as outlined under ASC 820, using both observable market data (categorized as Level 2 inputs under the fair value hierarchy) and unobservable inputs that reflect the Company’s own internal assumptions and calculations (categorized as Level 3 inputs under the fair value hierarchy). Under the income approach, the fair value estimates were calculated from discounted cash flow analyses, using expected future cash flows based on stabilized room revenue growth rates of 0% to 4.5% in 2017 and 1% to 4% in 2015, estimated discount rates of approximately 8.5% to 10.0% in 2017 and 8.5% to 9.5% in 2015, an estimated terminal capitalization rate of 7% in 2015 and other market considerations. During the first quarter of 2017, the Company identified two properties for potential sale: the Columbus, Georgia SpringHill Suites and TownePlace Suites hotels. In April 2017, the Company entered into separate contracts with the same unrelated party for the sale of these properties for a total combined gross sales price of approximately $10.0 million. Due to the change in the anticipated hold period for each of these hotels, the Company reviewed the estimated undiscounted cash flows generated by each property (including its sale price, net of estimated selling costs) and determined that, for each hotel, the undiscounted cash flows were less than its carrying value; therefore the Company recognized an impairment loss of approximately $7.9 million in the first quarter of 2017 to adjust the bases of these properties to their estimated fair values, which were based on the contracted sale price, net of estimated selling costs, a Level 1 input under the fair value hierarchy. In May 2017, both of these contracts were terminated. During the third quarter of 2016, the Company identified two properties for potential sale: the Dallas, Texas Hilton hotel and the Chesapeake, Virginia Marriott hotel. In October 2016, the Company entered into separate contracts for the sale of these properties. Due to the change in the anticipated hold period for each of these hotels, the Company reviewed the estimated undiscounted cash flows generated by each property (including its sale price, net of commissions and other selling costs) and determined that the Chesapeake, Virginia Marriott’s estimated undiscounted cash flows were less than its carrying value; therefore the Company recognized an impairment loss of approximately $5.5 million in the third quarter of 2016 to adjust the basis of this property to its estimated fair value, which was based on the original contracted sale price, net of broker commissions and other estimated selling costs, a Level 1 input under the fair value hierarchy. As further discussed in Note 4, the Chesapeake, Virginia Marriott was sold in December 2016 and the Dallas, Texas Hilton was sold in April 2017. |
Dispositions
Dispositions | 12 Months Ended |
Dec. 31, 2017 | |
Discontinued Operations and Disposal Groups [Abstract] | |
Disposal Groups, Including Discontinued Operations, Disclosure [Text Block] | Note 4 Dispositions 2017 Dispositions In December 2016, the Company entered into a purchase and sale agreement with an unrelated party for the sale of its 224-room Hilton hotel in Dallas, Texas for a gross sales price of approximately $56.1 million, as amended. The hotel was classified as held for sale at its historical cost (which was less than the contract price, net of costs to sell) in the Company’s consolidated balance sheet at December 31, 2016. On April 20, 2017, the Company completed the sale resulting in a gain of approximately $16.0 million, which is included in the Company’s consolidated statement of operations for the year ended December 31, 2017. The hotel had a carrying value totaling approximately $39.0 million at the date of sale. Under the contract, at closing, the mortgage loan secured by the Dallas, Texas Hilton hotel was assumed by the buyer with the buyer receiving a credit for the amount assumed, which was approximately $27.1 million at the date of sale. In June 2017, the Company entered into a purchase and sale agreement with an unrelated party for the sale of its 316-room Marriott hotel in Fairfax, Virginia, acquired by the Company in the merger with Apple Ten in September 2016, for a gross sales price of $41.5 million, as amended. 2016 Dispositions In October 2016, the Company entered into a purchase and sale agreement with an unrelated party for the sale of its 226-room Marriott hotel in Chesapeake, Virginia, for a gross sales price of approximately $9.9 million, as amended. As discussed in Note 3, during the third quarter of 2016, the Company recognized an impairment loss of $5.5 million to adjust the basis of this property to its estimated fair value, which was based on the original contracted sale price, net of broker commissions and other estimated selling costs. In December 2016, the Company completed the sale, resulting in a loss of approximately $0.2 million, which is included in the Company’s consolidated statement of operations for the year ended December 31, 2016. 2015 Dispositions During the year ended December 31, 2015, the Company sold 19 properties in two separate transactions for a total sales price of approximately $208.5 million, resulting in a gain of approximately $15.3 million, which is included in the Company’s consolidated statement of operations for the year ended December 31, 2015. The Company’s consolidated statements of operations include operating income (loss) of approximately $2.4 million, $(1.4) million and $4.7 million for the years ended December 31, 2017, 2016 and 2015, respectively, relating to the results of operations of the 22 hotels sold during the three years ended December 31, 2017, as noted above, for the period of ownership. The net proceeds from the sales were used primarily to pay down borrowings on the Company’s revolving credit facility. |
Debt
Debt | 12 Months Ended |
Dec. 31, 2017 | |
Debt Disclosure [Abstract] | |
Debt Disclosure [Text Block] | Note 5 Debt $965 Million Credit Facility On May 18, 2015, concurrent with the listing of the Company’s common shares on the NYSE (the “Listing”), the Company amended and restated its $345 million credit facility with a syndicate of commercial banks, increasing the borrowing capacity to $965 million, reducing the annual interest rate and extending the maturity dates. The unsecured “$965 million credit facility” is comprised of (i) a $540 million revolving credit facility with an initial maturity date of May 18, 2019 and (ii) a $425 million term loan facility with a maturity date of May 18, 2020, consisting of three term loans, all funded during 2015 (the “$425 million term loans”). Subject to certain conditions including covenant compliance and additional fees, the revolving credit facility maturity date may be extended one year. The Company may make voluntary prepayments in whole or in part, at any time. Interest payments on the $965 million credit facility are due monthly and the interest rate, subject to certain exceptions, is equal to an annual rate of the one-month LIBOR (the London Inter-Bank Offered Rate for a one-month term) plus a margin ranging from 1.50% to 2.30%, depending upon the Company’s leverage ratio, as calculated under the terms of the credit agreement. In conjunction with the $425 million term loans, the Company entered into two interest rate swap agreements, which effectively fix the interest rate on $322.5 million of the outstanding balance at approximately 3.10%, subject to adjustment based on the Company’s leverage ratio, through maturity. See Note 6 for more information on the interest rate swap agreements. The Company is also required to pay quarterly an unused facility fee at an annual rate of 0.20% or 0.30% on the unused portion of the revolving credit facility, based on the amount of borrowings outstanding during the quarter. $150 Million Term Loan Facility On April 8, 2016, the Company entered into an unsecured $150 million term loan facility with a syndicate of commercial banks (the “$150 million term loan facility”), consisting of a term loan of up to $50 million that will mature on April 8, 2021 (the “$50 million term loan”) and a term loan of up to $100 million that will mature on April 8, 2023 (the “$100 million term loan,” and collectively with the $50 million term loan, the “$150 million term loans”). The Company initially borrowed $50 million under the $150 million term loan facility on April 8, 2016 and borrowed the remaining $100 million on September 30, 2016. The credit agreement contains requirements and covenants similar to the Company’s $965 million credit facility. The Company may make voluntary prepayments in whole or in part, at any time, subject to certain conditions. Interest payments on the $150 million term loan facility are due monthly and the interest rate is equal to an annual rate of the one-month LIBOR plus a margin ranging from 1.45% to 2.20% for the $50 million term loan and 1.80% to 2.60% for the $100 million term loan, depending upon the Company’s leverage ratio, as calculated under the terms of the credit agreement. The Company also entered into two interest rate swap agreements which, beginning on September 30, 2016, effectively fix the interest rate on the $50 million term loan and $100 million term loan at 2.54% and 3.13%, respectively, subject to adjustment based on the Company’s leverage ratio, through maturity. See Note 6 for more information on the interest rate swap agreements. Net proceeds from the $150 million term loan facility were used to pay down outstanding borrowings on the Company’s revolving credit facility. $85 Million Term Loan On July 25, 2017, the Company entered into an unsecured $85 million term loan with a syndicate of commercial banks, with a maturity date of July 25, 2024 (the “$85 million term loan” and, together with the $425 million term loans and the $150 million term loans, the “term loans”). Net proceeds from the $85 million term loan were used to pay down outstanding borrowings on the Company’s revolving credit facility. The credit agreement contains requirements and covenants similar to the Company’s $965 million credit facility. The Company may make voluntary prepayments in whole or in part, at any time, subject to certain conditions. Interest payments on the $85 million term loan are due monthly and , through maturity. See Note 6 for more information on the interest rate swap agreements As of December 31, 2017 and 2016, the details of the Company’s revolving credit facility and term loans were as set forth below. All dollar amounts are in thousands. As of December 31, 2017 As of December 31, 2016 Maturity Date Outstanding Balance Interest Rate Outstanding Balance Interest Rate Revolving credit facility (1) 5/18/2019 $ 106,900 3.11 % (2) $ 270,000 2.32 % (2) Term loans $425 million term loans 5/18/2020 425,000 3.09 % (3) 425,000 2.90 % (3) $50 million term loan 4/8/2021 50,000 2.54 % (4) 50,000 2.54 % (4) $100 million term loan 4/8/2023 100,000 3.13 % (4) 100,000 3.13 % (4) $85 million term loan 7/25/2024 85,000 3.76 % (4) - n/a Total term loans at stated value 660,000 575,000 Unamortized debt issuance costs (3,721 ) (4,066 ) Total term loans 656,279 570,934 Total revolving credit facility and term loans $ 763,179 $ 840,934 (1) Unamortized debt issuance costs related to the revolving credit facility totaled approximately $1.7 million and $2.8 million as of December 31, 2017 and 2016, respectively, and are included in other assets, net in the Company’s consolidated balance sheets. (2) Annual variable interest rate at the balance sheet date. (3) Effective annual interest rate which includes the effect of interest rate swaps on $322.5 million of the outstanding loan balance, resulting in an annual fixed interest rate of approximately 3.10% on this portion of the debt, subject to adjustment based on the Company’s leverage ratio. See Note 6 for more information on the interest rate swap agreements. Remaining portion is variable rate debt. (4) Annual fixed interest rate at the balance sheet date which includes the effect of interest rate swaps on the outstanding loan balance, subject to adjustment based on the Company’s leverage ratio. See Note 6 for more information on the interest rate swap agreements. The credit agreements governing the $965 million credit facility, the $150 million term loan facility and the $85 million term loan contain mandatory prepayment requirements, customary affirmative covenants, negative covenants and events of default. The credit agreements require that the Company comply with various covenants, which include, among others, a minimum tangible net worth, maximum debt limits, minimum interest and fixed charge coverage ratios, limits on dividend payments and share repurchases and restrictions on certain investments. The credit agreements contain the following financial and restrictive covenants (capitalized terms are defined in the credit agreements). · A ratio of Consolidated Total Indebtedness to Consolidated EBITDA of not more than 6.00 to 1.00 (subject to a higher amount in certain circumstances); · A ratio of Consolidated Secured Indebtedness to Consolidated Total Assets of not more than 45%; · A minimum Consolidated Tangible Net Worth of approximately $2.3 billion (plus an amount equal to 75% of the Net Cash Proceeds from issuances and sales of Equity Interests occurring after the Closing Date, subject to adjustment, less the lesser of (a) an amount equal to 75% of Restricted Payments for the tender, redemption and/or other purchases of its common shares made by the Company after the Closing Date and (b) $375 million); · A ratio of Adjusted Consolidated EBITDA to Consolidated Fixed Charges of not less than 1.50 to 1.00 for the trailing four full quarters; · A ratio of Unencumbered Adjusted NOI to Consolidated Implied Interest Expense for Consolidated Unsecured Indebtedness of not less than 2.00 to 1.00 for the trailing four full quarters; · A ratio of Consolidated Unsecured Indebtedness to Unencumbered Asset Value of not more than 60% (subject to a higher level in certain circumstances); · A ratio of Consolidated Secured Recourse Indebtedness to Consolidated Total Assets of not more than 10%; and · Restricted Payments (including distributions and share repurchases), net of any proceeds from a dividend reinvestment plan and excluding Restricted Payments for the tender, redemption and/or other purchases of its common shares in an amount not to exceed $700 million in the aggregate, cannot exceed 95% of Funds From Operations for each fiscal year, unless the Company is required to distribute more to meet REIT requirements. The Company was in compliance with the applicable covenants at December 31, 2017. Mortgage Debt As of December 31, 2017, the Company had approximately $457.4 million in outstanding mortgage debt secured by 29 properties, with maturity dates ranging from June 2020 to January 2038, stated interest rates ranging from 3.55% to 6.25% and effective interest rates ranging from 3.55% to 4.97%. The loans generally provide for monthly payments of principal and interest on an amortized basis and defeasance or prepayment penalties if prepaid. The following table sets forth the hotel properties securing each loan, the interest rate, loan assumption or origination date, maturity date, the principal amount assumed or originated, and the outstanding balance prior to any fair value adjustments or debt issuance costs as of December 31, 2017 and 2016 for each of the Company’s debt obligations. All dollar amounts are in thousands. Location Brand Interest Rate (1) Loan Assumption or Origination Date Maturity Date Principal Assumed or Originated Outstanding balance as of December 31, 2017 Outstanding balance as of December 31, 2016 Irving, TX Homewood Suites 5.83 % 12/29/2010 (2) $ 6,052 $ - $ 5,072 Gainesville, FL Homewood Suites 5.89 % 9/1/2016 (2) 12,051 - 11,966 Duncanville, TX Hilton Garden Inn 5.88 % 10/21/2008 (2) 13,966 - 12,126 Dallas, TX Hilton 3.95 % 5/22/2015 (3) 28,000 - 27,246 San Juan Capistrano, CA Residence Inn 4.15 % 9/1/2016 6/1/2020 16,210 15,774 16,104 Colorado Springs, CO Hampton 6.25 % 9/1/2016 7/6/2021 7,923 7,754 7,883 Franklin, TN Courtyard 6.25 % 9/1/2016 8/6/2021 14,679 14,368 14,604 Franklin, TN Residence Inn 6.25 % 9/1/2016 8/6/2021 14,679 14,368 14,604 Grapevine, TX Hilton Garden Inn 4.89 % 8/29/2012 9/1/2022 11,810 10,412 10,707 Collegeville/Philadelphia, PA Courtyard 4.89 % 8/30/2012 9/1/2022 12,650 11,152 11,468 Hattiesburg, MS Courtyard 5.00 % 3/1/2014 9/1/2022 5,732 5,212 5,357 Rancho Bernardo/San Diego, CA Courtyard 5.00 % 3/1/2014 9/1/2022 15,060 13,692 14,074 Kirkland, WA Courtyard 5.00 % 3/1/2014 9/1/2022 12,145 11,042 11,350 Seattle, WA Residence Inn 4.96 % 3/1/2014 9/1/2022 28,269 25,687 26,409 Anchorage, AK Embassy Suites 4.97 % 9/13/2012 10/1/2022 23,230 20,560 21,133 Somerset, NJ Courtyard 4.73 % 3/1/2014 10/6/2022 8,750 7,932 8,160 Tukwila, WA Homewood Suites 4.73 % 3/1/2014 10/6/2022 9,431 8,549 8,795 Prattville, AL Courtyard 4.12 % 3/1/2014 2/6/2023 6,596 5,943 6,123 Huntsville, AL Homewood Suites 4.12 % 3/1/2014 2/6/2023 8,306 7,483 7,711 San Diego, CA Residence Inn 3.97 % 3/1/2014 3/6/2023 18,600 16,733 17,248 Miami, FL Homewood Suites 4.02 % 3/1/2014 4/1/2023 16,677 15,022 15,479 Syracuse, NY Courtyard 4.75 % 10/16/2015 8/1/2024 (4) 11,199 10,637 10,905 Syracuse, NY Residence Inn 4.75 % 10/16/2015 8/1/2024 (4) 11,199 10,637 10,905 New Orleans, LA Homewood Suites 4.36 % 7/17/2014 8/11/2024 27,000 24,919 25,577 Westford, MA Residence Inn 4.28 % 3/18/2015 4/11/2025 10,000 9,386 9,626 Denver, CO Hilton Garden Inn 4.46 % 9/1/2016 6/11/2025 34,118 33,046 33,857 Oceanside, CA Courtyard 4.28 % 9/1/2016 10/1/2025 13,655 13,332 13,576 Omaha, NE Hilton Garden Inn 4.28 % 9/1/2016 10/1/2025 22,682 22,145 22,550 Boise, ID Hampton 4.37 % 5/26/2016 6/11/2026 24,000 23,422 23,813 Burbank, CA Courtyard 3.55 % 11/3/2016 12/1/2026 25,564 24,917 25,564 San Diego, CA Courtyard 3.55 % 11/3/2016 12/1/2026 25,473 24,828 25,473 San Diego, CA Hampton 3.55 % 11/3/2016 12/1/2026 18,963 18,483 18,963 San Jose, CA Homewood Suites 4.22 % 12/22/2017 1/1/2038 30,000 30,000 - $ 544,669 457,435 494,428 Unamortized fair value adjustment of assumed debt 4,330 5,229 Unamortized debt issuance costs (2,748 ) (2,628 ) Total $ 459,017 $ 497,029 (1) Interest rates are the rates per the loan agreement. For loans assumed, the Company adjusted the interest rates per the loan agreement to market rates and is amortizing the adjustments to interest expense over the life of the loan. (2) Loans were repaid in full during 2017. (3) Assets securing this loan were classified as held for sale as of December 31, 2016. In April 2017, the assets securing this loan were sold, and the loan was assumed by the buyer of those assets. (4) Outstanding principal balance is callable by lender or prepayable by the Company on August 1, 2019. The aggregate amounts of principal payable under the Company’s total debt obligations (including mortgage debt, the revolving credit facility and term loans), for the five years subsequent to December 31, 2017 and thereafter are as follows (in thousands): 2018 $ 11,964 2019 139,622 2020 452,223 2021 96,415 2022 108,034 Thereafter 416,077 1,224,335 Unamortized fair value adjustment of assumed debt 4,330 Unamortized debt issuance costs related to term loans and mortgage debt (6,469 ) Total $ 1,222,196 Upon completion of the Apple Ten merger on September 1, 2016, the Company assumed approximately $145.7 million in mortgage debt, prior to any fair value adjustments, secured by nine properties. This assumed mortgage debt had maturity dates ranging from February 2017 to October 2025 and stated interest rates ranging from 4.15% to 6.25%. A fair value premium adjustment totaling approximately $6.2 million was recorded upon the assumption of the above market rate mortgages, and the effective interest rates on the applicable debt obligations ranged from 3.80% to 4.23% at the date of assumption. The total fair value, net premium adjustment for all of the Company’s debt assumptions (including the assumption of above (premium) market rate mortgages assumed in the Apple Ten merger) is being amortized as a reduction to interest expense over the remaining term of the respective mortgages using a method approximating the effective interest rate method, and totaled approximately $0.9 million, $2.3 million and $3.2 million for the years ended December 31, 2017, 2016 and 2015, respectively. Debt issuance costs related to the assumption or origination of debt are amortized over the period to maturity of the applicable debt instrument, as an addition to interest expense. Amortization of such costs totaled approximately $2.8 million, $2.9 million and $2.4 million for the years ended December 31, 2017, 2016 and 2015, respectively. The Company’s interest expense in 2017, 2016 and 2015 is net of interest capitalized in conjunction with hotel renovations totaling approximately $1.3 million, $1.6 million and $1.5 million, respectively. |
Fair Value of Financial Instrum
Fair Value of Financial Instruments | 12 Months Ended |
Dec. 31, 2017 | |
Fair Value Disclosures [Abstract] | |
Fair Value Disclosures [Text Block] | Note 6 Fair Value of Financial Instruments Except as described below, the carrying value of the Company’s financial instruments approximates fair value due to the short-term nature of these financial instruments. Debt The Company estimates the fair value of its debt by discounting the future cash flows of each instrument at estimated market rates consistent with the maturity of a debt obligation with similar credit terms and credit characteristics, which are Level 3 inputs under the fair value hierarchy. Market rates take into consideration general market conditions and maturity. As of December 31, 2017, both the carrying value and estimated fair value of the Company’s debt were approximately $1.2 billion. As of December 31, 2016, both the carrying value and estimated fair value of the Company’s debt were approximately $1.3 billion. Both the carrying value and estimated fair value of the Company’s debt (as discussed above) is net of unamortized debt issuance costs related to term loans and mortgage debt for each specific year. Derivative Instruments Currently, the Company uses interest rate swaps to manage its interest rate risks on variable rate debt. Throughout the terms of these interest rate swaps, the Company pays a fixed rate of interest and receives a floating rate of interest equal to the one month LIBOR. The swaps are designed to effectively fix the interest payments on variable rate debt instruments. These instruments are recorded at fair value and, if in an asset position, are included in other assets, net, and, if in a liability position, are included in accounts payable and other liabilities in the Company’s consolidated balance sheets. The fair values of the Company’s interest rate swap agreements are determined using the market standard methodology of netting the discounted future fixed cash payments and the discounted expected variable cash receipts, which is considered a Level 2 measurement under the fair value hierarchy. The variable cash receipts are based on an expectation of future interest rates (forward curves) derived from observable market interest rate curves. The following table sets forth information for each of the Company’s interest rate swap agreements outstanding as of December 31, 2017 and 2016. All dollar amounts are in thousands. Notional Amount at Fair Value Asset (Liability) Hedge Type Origination Date Maturity Date Swap Fixed Interest Rate December 31, 2017 December 31, 2016 Cash flow hedge $ 212,500 5/21/2015 5/18/2020 1.58 % $ 2,033 $ (198 ) Cash flow hedge 110,000 7/2/2015 5/18/2020 1.62 % 951 (246 ) Cash flow hedge 50,000 4/7/2016 3/31/2021 1.09 % 1,544 1,289 Cash flow hedge 100,000 4/7/2016 3/31/2023 1.33 % 4,098 3,744 Cash flow hedge 75,000 5/31/2017 6/30/2024 1.96 % 1,043 - Cash flow hedge 10,000 8/10/2017 6/30/2024 2.01 % 109 - $ 557,500 $ 9,778 $ 4,589 The Company assesses, both at inception and on an ongoing basis, the effectiveness of its qualifying cash flow hedges. Other than the fair value changes associated with a terminated interest rate swap for which hedge accounting was discontinued during 2015 resulting in approximately $0.4 million recorded as an increase to interest and other expense, net, fair value changes for derivatives that were not in qualifying hedge relationships or the ineffective portion of designated cash flow hedges for the years ended December 31, 2017, 2016 and 2015 were not material. To adjust qualifying cash flow hedges to their fair value and recognize the impact of hedge accounting, the Company recorded net unrealized gains (losses) of approximately $5.2 million and $6.6 million and $(1.5) million during the years ended December 31, 2017, 2016 and 2015, respectively, to other comprehensive income (loss). Amounts reported in accumulated other comprehensive income will be reclassified to interest and other expense, net as interest payments are made or received on the Company’s variable-rate derivatives. Net unrealized losses on cash flow hedges previously recorded to accumulated other comprehensive income (loss) that were reclassified to interest and other expense, net during the years ended December 31, 2017, 2016 and 2015, were approximately $(2.2) million, $(4.0) million and $(2.1) million, respectively. The Company estimates that approximately $1.1 million of net unrealized gains included in accumulated other comprehensive income at December 31, 2017 will be reclassified as a net decrease to interest and other expense, net within the next 12 months. Also, during the year ended December 31, 2015, the Company reclassified $(0.8) million of unrealized losses from accumulated other comprehensive income (loss) to net income which was associated with the termination of a swap agreement. |
Related Parties
Related Parties | 12 Months Ended |
Dec. 31, 2017 | |
Related Party Transactions [Abstract] | |
Related Party Transactions Disclosure [Text Block] | Note 7 Related Parties The Company has, and is expected to continue to engage in, transactions with related parties. These transactions cannot be construed to be at arm’s length and the results of the Company’s operations may be different if these transactions were conducted with non-related parties. The Company’s independent members of the Board of Directors oversee and annually review the Company’s related party relationships (including the relationships discussed in this section) and are required to approve any significant modifications to the existing relationships, as well as any new significant related party transactions. The Board of Directors is not required to approve each individual transaction that falls under the related party relationships. However, under the direction of the Board of Directors, at least one member of the Company’s senior management team approves each related party transaction. Below is a summary of the significant related party relationships in effect and transactions that occurred during each of the three years in the period ended December 31, 2017. Prior to the Apple Ten merger, Glade M. Knight, Executive Chairman of the Company, was Chairman and Chief Executive Officer of Apple Ten. Apple Ten’s advisors, Apple Ten Advisors, Inc. (“A10A”) and Apple Realty Group, Inc. (“ARG”), are wholly owned by Mr. Knight. Mr. Knight is also currently a partner and Chief Executive Officer of Energy 11 GP, LLC and Energy Resources 12 GP, LLC, which are the respective general partners of Energy 11, L.P. and Energy Resources 12, L.P. Justin G. Knight, the Company’s President and Chief Executive Officer, and a member of the Company’s Board of Directors, also served as President of Apple Ten prior to the merger. Mr. Glade M. Knight is the only member of the Company’s Board of Directors that was also on the Board of Directors of Apple Ten. As part of the Apple Ten merger transaction, the officers and Executive Chairman of the Company received a combined 3.1 million common shares of the Company and $6.0 million in exchange for their ownership interests in Apple Ten, including amounts assigned to others. Support Services to Apple Ten, A10A and ARG Prior to and After the Apple Ten Merger Effective September 1, 2016, the Company completed its merger with Apple Ten. As contemplated in the Merger Agreement, in connection with the completion of the merger, the advisory and related party agreements with respect to the Company, Apple Ten and Apple Ten’s advisors, A10A and ARG, were terminated effective immediately after the effective time of the merger on September 1, 2016, and no fees were paid as a result of the termination of these agreements. As a result, effective September 1, 2016, the Company (including Apple Ten) no longer has any advisory contracts with A10A or ARG. Prior to the merger, both the advisory fees and reimbursed costs received by the Company from Apple Ten were recorded as general and administrative expense by Apple Ten and reductions to general and administrative expense by the Company and, therefore, the termination of the subcontract agreement had no financial impact on the combined company after the effective time of the merger. Prior to the merger, A10A subcontracted its obligations under its advisory agreement between A10A and Apple Ten to the Company. The Company provided to Apple Ten the advisory services contemplated under the A10A advisory agreement and received an annual advisory fee, and was reimbursed by Apple Ten for the use of the Company’s employees and corporate office and other costs associated with the advisory agreement. Advisory fees earned by the Company from Apple Ten totaled approximately $1.6 million for the eight months ended August 31, 2016 and $2.5 million for the year ended December 31, 2015, and are recorded as a reduction to general and administrative expenses in the Company’s consolidated statements of operations. Prior to the merger, the Company provided support services to Apple Ten and its advisors, A10A and ARG, which agreed to reimburse the Company for its costs in providing these services. After the merger, the Company has continued and will continue to provide support services to ARG for activities unrelated to Apple Ten. Under this cost sharing structure, amounts reimbursed to the Company include both compensation for personnel and office related costs (including office rent, utilities, office supplies, etc.) used by each company during these periods. The amounts reimbursed to the Company are based on the actual costs of the services and a good faith estimate of the proportionate amount of time incurred by the Company’s employees on behalf of ARG. Total reimbursed costs received by the Company from these entities for the years ended December 31, 2017, 2016 and 2015 (including Apple Ten, A10A and ARG prior to September 1, 2016 and ARG thereafter) totaled approximately $0.7 million, $2.5 million and $3.1 million, respectively, and are recorded as a reduction to general and administrative expenses in the Company’s consolidated statements of operations. As part of the cost sharing arrangement, certain day-to-day transactions may result in amounts due to or from the Company and ARG. To efficiently manage cash disbursements, the Company or ARG may make payments for the other company. Under this cash management process, each company may advance or defer up to $1 million at any time. Each quarter, any outstanding amounts are settled between the companies. This process allows each company to minimize its cash on hand and reduces the cost for each company. The amounts outstanding at any point in time are not significant to either of the companies. As of December 31, 2017 and 2016, total amounts due from ARG for reimbursements under the cost sharing structure totaled approximately $0.3 million and $0.2 million, respectively, and are included in other assets, net in the Company’s consolidated balance sheets. Prior to the Apple Ten merger, Apple Ten, A10A and ARG (for activities both related and unrelated to Apple Ten) were part of the cost sharing structure and participated in this cash management process. Aircraft Usage The Company, through a wholly-owned subsidiary, Apple Air Holding, LLC (“Apple Air”), owns a Learjet used primarily for acquisition, asset management, renovation and public relations purposes. The aircraft is also leased to affiliates of the Company based on third party rates, which was not significant during the reporting periods. Prior to the merger, Apple Air was jointly owned by the Company (74%) and Apple Ten (26%), with Apple Ten’s ownership interest accounted for as a minority interest. Apple Ten’s portion of Apple Air’s loss was approximately $0.2 million for the eight months ended August 31, 2016 and $0.3 million for the year ended December 31, 2015, and was recorded as a reduction to general and administrative expenses in the Company’s consolidated statements of operations. Effective September 1, 2016, with the completion of the merger, the Company acquired Apple Ten’s 26% equity interest in Apple Air for a total allocated purchase price of approximately $0.7 million, which approximated the fair market value at the time of acquisition based on third party market comparisons, resulting in a 100% equity ownership interest in Apple Air and the elimination of Apple Ten’s minority interest. The Company also utilizes aircraft, owned through two entities, one of which is owned by the Company’s Executive Chairman, and the other, its President and Chief Executive Officer, for acquisition, asset management, renovation and public relations purposes, and reimburses these entities at third party rates. Total costs incurred for the use of these aircraft during 2017, 2016 and 2015 were approximately $0.1 million, $0.2 million and $0.2 million in each respective year and are included in general and administrative expenses in the Company’s consolidated statements of operations. |
Shareholders' Equity
Shareholders' Equity | 12 Months Ended |
Dec. 31, 2017 | |
Stockholders' Equity Note [Abstract] | |
Stockholders' Equity Note Disclosure [Text Block] | Note 8 Shareholders’ Equity Distributions The Company’s current annual distribution rate, payable monthly, is $1.20 per common share. On April 23, 2015, the Company’s Board of Directors, in anticipation of the Listing, reduced the annual distribution rate from $1.36 per common share to the current annual distribution rate, effective with the June 2015 distribution. For the years ended December 31, 2017, 2016 and 2015, the Company paid distributions of $1.20, $1.20 and $1.27 per common share for a total of approximately $267.9 million, $229.1 million and $229.1 million, respectively. Additionally, in December 2017, the Company declared a monthly distribution of $0.10 per common share, totaling $23.0 million, which was recorded as a payable as of December 31, 2017 and paid in January 2018. As of December 31, 2016, a monthly distribution of $0.10 per common share, totaling $22.3 million, was recorded as a payable and paid in January 2017. These accrued distributions were included in accounts payable and other liabilities in the Company’s consolidated balance sheets. Issuance of Shares On February 28, 2017, the Company entered into an equity distribution agreement with Robert W. Baird & Co. Incorporated, Merrill Lynch, Pierce, Fenner & Smith Incorporated, Canaccord Genuity Inc., FBR Capital Markets & Co., Jefferies LLC, KeyBanc Capital Markets Inc. and Scotia Capital (USA) Inc. (collectively, the “Sales Agents”), pursuant to which the Company may sell, from time to time, up to an aggregate of $300 million of its common shares through the Sales Agents under an at-the-market offering program (the “ATM Program”). During the fourth quarter of 2017, the Company sold approximately 6.9 million common shares under its ATM Program at a weighted-average market sales price of approximately $19.55 per common share and received aggregate gross proceeds of approximately $135.1 million, before commissions and issuance costs. The Company used the proceeds from the sale of these shares to pay down borrowings on its revolving credit facility. As of December 31, 2017, approximately $164.9 million remained available for issuance under the ATM program. Share Repurchases During 2017, the Company’s Board of Directors authorized an extension of its share repurchase program to repurchase up to $475 million of its common shares, which program will end in July 2018, if not terminated earlier. The program may be suspended or terminated at any time by the Company. In connection with the implementation of the ATM Program, in February 2017 the Company terminated its then existing written trading plan under the Company’s share repurchase program. In connection with the Listing, the Company completed a modified “Dutch Auction” tender offer in June 2015 and purchased approximately 10.5 million of its common shares, which were retired, at a purchase price of $19.00 per common share, for an aggregate purchase price of approximately $200 million, excluding fees and expenses related to the tender offer. The Company funded the tender offer and all related costs primarily from borrowings under its $965 million credit facility. Prior to the Listing, during 2015, the Company redeemed approximately 0.8 million common shares at a price of $18.40 per common share, or a total of approximately $14.9 million, under its previous share redemption program that was terminated following the April 2015 redemption. Reverse Share Split In connection with the Listing, effective May 18, 2015, the Company completed a 50% reverse share split. As a result of the reverse share split, every two common shares were converted into one common share, reducing the number of issued and outstanding common shares from 372.2 million to 186.1 million on the effective date. The common shares have the same respective voting rights, preferences and relative, participating, optional or other rights, and qualifications, limitations or restrictions as set forth in the amended and restated articles of incorporation in effect immediately prior to the effective date of the reverse share split. The reverse share split did not have any effect on the total number of common shares the Company is authorized to issue under its amended and restated articles of incorporation. Preferred Shares No preferred shares of the Company are issued and outstanding. The Company’s amended and restated articles of incorporation authorize issuance of up to 30 million preferred shares. The Company believes that the authorization to issue preferred shares benefits the Company and its shareholders by permitting flexibility in financing additional growth, giving the Company additional financing options in corporate planning and in responding to developments in its business, including financing of additional acquisitions and other general corporate purposes. Having authorized preferred shares available for issuance in the future gives the Company the ability to respond to future developments and allows preferred shares to be issued without the expense and delay of a special shareholders’ meeting. At present, the Company has no specific financing or acquisition plans involving the issuance of preferred shares and the Company does not propose to fix the characteristics of any series of preferred shares in anticipation of issuing preferred shares. The Company cannot now predict whether or to what extent, if any, preferred shares will be used or if so used what the characteristics of a particular series may be. A series of preferred shares could be given rights that are superior to rights of holders of common shares and a series having preferential distribution rights could limit common share distributions and reduce the amount holders of common shares would otherwise receive on dissolution. Unless otherwise required by applicable law or regulation, the preferred shares would be issuable without further authorization by holders of the common shares and on such terms and for such consideration as may be determined by the Board of Directors. The preferred shares could be issued in one or more series having varying voting rights, redemption and conversion features, distribution (including liquidating distribution) rights and preferences, and other rights, including rights of approval of specified transactions. The voting rights and rights to distributions of the holders of common shares will be subject to the priority rights of the holders of any subsequently-issued preferred shares. |
Compensation Plans
Compensation Plans | 12 Months Ended |
Dec. 31, 2017 | |
Disclosure Text Block Supplement [Abstract] | |
Compensation and Employee Benefit Plans [Text Block] | Note 9 Compensation Plans In May 2014, the Board of Directors adopted the Company’s 2014 Omnibus Incentive Plan (the “Omnibus Plan”), and in May 2015, the Company’s shareholders approved the Omnibus Plan. The Omnibus Plan permits the grant of awards of stock options, stock appreciation rights, restricted stock, stock units, unrestricted stock, dividend equivalent rights, performance shares and other performance-based awards, other equity-based awards, and cash bonus awards to any employee, officer, or director of the Company or an affiliate of the Company, a consultant or adviser currently providing services to the Company or an affiliate of the Company, or any other person whose participation in the Omnibus Plan is determined by the Compensation Committee of the Board of Directors to be in the best interests of the Company. The maximum number of the Company’s common shares available for issuance under the Omnibus Plan is 10 million. As of December 31, 2017, there were approximately 9.4 million common shares not reserved and available for issuance under the Omnibus Plan. In February 2017, the Compensation Committee of the Board of Directors (“Compensation Committee”) approved an executive incentive plan (“2017 Incentive Plan”), effective January 1, 2017, and established incentive goals for 2017. Under the 2017 Incentive Plan, participants are eligible to receive a bonus based on the achievement of certain 2017 performance measures, consisting of operational performance metrics (including targeted Modified Funds from Operations per share, Comparable Hotels revenue per available room growth and Adjusted Hotel EBITDA Margin growth) and shareholder return metrics (including shareholder return relative to a peer group and total shareholder return over one-year and two-year periods). The components of the operational performance metrics and shareholder return metrics are equally weighted and the two metrics each account for 50% of the total target incentive compensation. The range of potential aggregate payouts under the 2017 Incentive Plan was $0 - $18 million. Based on performance during 2017, the Company has accrued approximately $8.4 million as a liability for executive bonus payments under the 2017 Incentive Plan, which is included in accounts payable and other liabilities in the Company’s consolidated balance sheet as of December 31, 2017 and in general and administrative expenses in the Company’s consolidated statement of operations for the year ended December 31, 2017. Additionally, approximately $1.2 million, which is subject to vesting on December 14, 2018, will be recognized proportionally throughout 2018. Assuming the portion subject to vesting in 2018 vests for all participants, approximately 25% of awards under the 2017 Incentive Plan will be paid in cash and 75% will be issued in stock under the Company’s 2014 Omnibus Incentive Plan in the first quarter of 2018, approximately two-thirds of which will be unrestricted and one-third of which will be restricted to vesting on December 14, 2018. During 2016 and 2015, comparable executive incentive plans were approved by the Compensation Committee (“2016 Incentive Plan” and “2015 Incentive Plan”) that were effective January 1, 2016 and January 1, 2015, respectively. The Company accrued approximately $2.8 million, including $1.9 million in share based compensation as noted below, as a liability for executive bonus payments under the 2016 Incentive Plan, which was included in accounts payable and other liabilities in the Company’s consolidated balance sheet as of December 31, 2016 and in general and administrative expenses in the Company’s consolidated statement of operations for the year ended December 31, 2016. The Company Share Based Compensation Awards During the first quarters of 2017 and 2016, the Company issued 101,305 and 304,345 common shares earned under the 2016 and 2015 Incentive Plans (net of 19,667 and 11,787 common shares surrendered to satisfy tax withholding obligations) at $19.10 and $19.87 per share, or approximately $2.3 million and $6.3 million in share based compensation, including the surrendered shares, respectively. Of the total shares issued under the 2016 Incentive Plan, 60,028 shares were unrestricted at the time of issuance, and the remaining 41,277 restricted shares vested on December 15, 2017, of which 13,129 common shares were surrendered to satisfy tax withholding obligations. Of the total shares issued under the 2015 Incentive Plan, 146,279 shares were unrestricted at the time of issuance, and the remaining 158,066 restricted shares vested on December 31, 2016, of which 50,044 common shares were surrendered to satisfy tax withholding obligations. Of the total 2016 share based compensation, approximately $1.9 million was recognized as share based compensation expense during the year ended December 31, 2016 and included in the liability recorded as of December 31, 2016, and the remaining $0.4 million, which vested on December 15, 2017, was recognized as share based compensation expense during the year ended December 31, 2017. Of the total 2015 share based compensation, approximately $4.7 million was recorded as compensation expense during the year ended December 31, 2015, and the remaining $1.6 million, which vested on December 31, 2016, was recognized as share based compensation expense during the year ended December 31, 2016. |
Management and Franchise Agreem
Management and Franchise Agreements | 12 Months Ended |
Dec. 31, 2017 | |
Contractors [Abstract] | |
Long-term Contracts or Programs Disclosure [Text Block] | Note 10 Management and Franchise Agreements Each of the Company’s 239 hotels owned as of December 31, 2017 is operated and managed under a separate management agreement with one of the following management companies or one of their affiliates, none of which are affiliated with the Company: Manager Number of Hotels LBAM-Investor Group, LLC (“LBA”) 42 White Lodging Services Corporation (“White Lodging”) 28 Dimension Development Two, LLC (“Dimension”) 24 MHH Management, LLC (“McKibbon”) 18 Texas Western Management Partners, LP (“Western”) 17 Marriott International, Inc. (“Marriott”) 14 Raymond Management Company, Inc. (“Raymond”) 14 Newport Hospitality Group, Inc. (“Newport”) 9 North Central Hospitality, LLC (“North Central”) 9 Vista Host, Inc. (“Vista Host”) 9 Crestline Hotels & Resorts, LLC (“Crestline”) 8 InnVentures IVI, LP (“InnVentures”) 8 True North Hotel Group, Inc. (“True North”) 7 Aimbridge Hospitality, LLC (“Aimbridge”) 6 Chartwell Hospitality, LLC (“Chartwell”) 5 Gateway Hospitality Group, Inc. (“Gateway”) 5 Schulte Hospitality Group, Inc. (“Schulte”) 4 Huntington Hotel Group, LP (“Huntington”) 3 Stonebridge Realty Advisors, Inc. (“Stonebridge”) 3 Hilton Worldwide Holdings Inc. (“Hilton”) 2 New Castle Hotels & Resorts (“New Castle”) 2 Highgate Hotels, L.P. (“Highgate”) 1 Pyramid Advisors Limited Partnership (“Pyramid”) 1 Total 239 The management agreements generally provide for initial terms of one to 30 years. The Company has the option to terminate the management agreements if specified performance thresholds are not satisfied. As of December 31, 2017, nearly 80% of the Company’s hotels operate under a variable management fee structure, which the Company believes better aligns incentives for each hotel manager to maximize each property’s performance than a base-plus-incentive management fee structure, as described below, which is more common throughout the industry. Under the variable fee structure, the management fee earned for each hotel is generally within a range of 2.5% to 3.5% of revenue based on each hotel’s performance relative to other hotels owned by the Company. The performance measures are based on various financial and quality performance metrics. The Company’s remaining hotels operate under a management fee structure which generally includes the payment of base management fees and an opportunity for incentive management fees. Under this structure, base management fees are calculated as a percentage of gross revenues and the incentive management fees are calculated as a percentage of operating profit in excess of a priority return to the Company, as defined in the management agreements. In addition to the above, management fees for all of the Company’s hotels generally include accounting fees and other fees for centralized services, which are allocated among all of the hotels that receive the benefit of such services. For the years ended December 31, 2017, 2016 and 2015, the Company incurred approximately $42.7 million, $35.6 million and $31.1 million in management fees, respectively. Sixteen of the Company’s hotels are managed by affiliates of Marriott or Hilton. The remainder of the Company’s hotels are managed by companies that are not affiliated with either Marriott or Hilton, and as a result, the hotels they manage were required to obtain separate franchise agreements with each respective franchisor. The franchise agreements generally provide for initial terms of approximately 10 to 30 years and generally provide for renewals subject to franchise requirements at the time of renewal. The Company pays various fees under these agreements, including the payment of royalty fees, marketing fees, reservation fees, a communications support fee, brand loyalty program fees and other similar fees based on room revenues. For the years ended December 31, 2017, 2016 and 2015, the Company incurred approximately $52.9 million, $44.2 million and $38.0 million, respectively, in franchise royalty fees. |
Lease Commitments
Lease Commitments | 12 Months Ended |
Dec. 31, 2017 | |
Leases [Abstract] | |
Leases of Lessee Disclosure [Text Block] | Note 11 Lease Commitments The Company has ground leases relating to 14 of its hotels and three parking lot leases. At the time of acquisition, the Company recorded initial intangible assets for twelve of these leases that were below market leases (including three leases relating to four hotels assumed as part of the Apple Ten merger, effective September 1, 2016), which at December 31, 2017 and 2016 totaled approximately $27.3 million and $28.4 million, respectively, and are included in other assets, net in the Company’s consolidated balance sheets. The Company recorded initial intangible liabilities for three of these leases that were above market leases, which as of December 31, 2017 and 2016 totaled approximately $6.2 million and $6.5 million, respectively, and are included in accounts payable and other liabilities in the Company’s consolidated balance sheets. The value of each lease intangible is amortized over the term of the respective lease and the amortization is included in ground lease expense in the Company’s consolidated statements of operations, resulting in a net increase of approximately $0.8 million, $0.7 million and $0.7 million to ground lease expense for the years ended December 31, 2017, 2016 and 2015. The Company’s leases have remaining terms ranging from approximately six to 88 years, excluding any option periods to extend the initial lease term. The Company has options to extend certain leases beyond the initial lease term by periods ranging from five to 120 years. The leases are classified as operating leases. The leases generally have fixed scheduled rent increases, and lease expense is recognized on a straight-line basis over the remaining term of the respective leases. Ground lease expense includes approximately $3.7 million, $3.4 million and $3.3 million of adjustments to record rent on a straight-line basis for the years ended December 31, 2017, 2016 and 2015. The accrued straight-line lease liability balance as of December 31, 2017 and 2016 was approximately $13.3 million and $9.6 million, respectively, and is included in accounts payable and other liabilities in the Company’s consolidated balance sheets. The aggregate amounts of the estimated minimum lease payments for the five years subsequent to December 31, 2017 and thereafter, are as follows (in thousands): Total 2018 $ 6,318 2019 6,600 2020 6,772 2021 6,957 2022 7,117 Thereafter 327,808 Total $ 361,572 |
Industry Segments
Industry Segments | 12 Months Ended |
Dec. 31, 2017 | |
Segment Reporting [Abstract] | |
Segment Reporting Disclosure [Text Block] | Note 12 Industry Segments The Company owns hotel properties throughout the United States that generate rental and other property related income. The Company separately evaluates the performance of each of its hotel properties. However, because each of the hotels has similar economic characteristics, facilities, and services, and each hotel is not individually significant, the properties have been aggregated into a single reportable segment. All segment disclosures are included in, or can be derived from the Company’s consolidated financial statements. |
Hotel Contract Commitments
Hotel Contract Commitments | 12 Months Ended |
Dec. 31, 2017 | |
Disclosure Text Block Supplement [Abstract] | |
Commitments Disclosure [Text Block] | Note 13 Hotel Contract Commitments As of December 31, 2017, the Company had outstanding contracts for the potential purchase of four hotels for a total purchase price of $127.8 million. Two of the hotels, the Atlanta Hampton Inn & Suites and the Memphis Hampton Inn & Suites, both of which are already in operation, were acquired in February 2018. The two remaining hotels are under construction and are planned to be completed and opened for business during 2018, at which time closing on these hotels is expected to occur. Although the Company is working towards acquiring the two hotels under construction, there are many conditions to closing that have not yet been satisfied and there can be no assurance that a closing on these hotels will occur under the outstanding purchase contracts. The following table summarizes the location, brand, date of purchase contract, expected number of rooms, refundable (if the seller does not meet its obligations under the contract) contract deposits paid, and gross purchase price for each of the contracts outstanding at December 31, 2017. All dollar amounts are in thousands. Location Brand Date of Purchase Contract Rooms Refundable Deposits Gross Purchase Price Operating Atlanta, GA Hampton 12/22/2017 119 $ (a ) $ (a ) Memphis, TN Hampton 12/22/2017 144 (a ) (a ) Under development (b) Phoenix, AZ Hampton 10/25/2016 210 500 44,100 Orlando, FL Home2 Suites 1/18/2017 128 3 20,736 601 $ 1,503 $ 127,836 (a) These two hotels are included in one purchase contract with a total gross purchase price of $63.0 million and an initial deposit of $1.0 million. These amounts are included in the total gross purchase price and refundable deposits as indicated above. Closing on these hotels occurred in February 2018. (b) As of December 31, 2017, these hotels were under construction. The table shows the expected number of rooms upon hotel completion and the expected franchise brands. Assuming all conditions to closing are met, the purchases of these hotels are expected to occur during 2018. If the seller meets all of the conditions to closing, the Company is obligated to specifically perform under the contract. As the properties are under construction, at this time, the seller has not met all of the conditions to closing. The purchase price for the Atlanta Hampton Inn & Suites and the Memphis Hampton Inn & Suites was funded through the Company’s revolving credit facility and it is anticipated that the purchase price for the remaining hotels will be funded similarly. |
Legal Proceedings
Legal Proceedings | 12 Months Ended |
Dec. 31, 2017 | |
Disclosure Text Block Supplement [Abstract] | |
Legal Matters and Contingencies [Text Block] | Note 14 Legal Proceedings Quinn v. Knight, et al. On July 19, 2016, a purported shareholder of Apple Ten, now part of the Company, commenced a derivative action in the United States District Court for the Eastern District of Virginia, captioned and numbered Quinn v. Knight, et al Moses, et al. v. Apple Hospitality REIT, Inc., et al. On April 22, 2014, Plaintiff Susan Moses, purportedly a shareholder of Apple REIT Seven, Inc. (“Apple Seven”) and Apple REIT Eight, Inc. (“Apple Eight”), filed a class action against the Company and several individual directors on behalf of all then-existing shareholders and former shareholders of Apple Seven and Apple Eight, who purchased additional shares under the Dividend Reinvestment Plans (“DRIP”) of Apple Seven, Apple Eight and the Company between July 17, 2007 and February 12, 2014 ( Susan Moses, et al. v. Apple Hospitality REIT, Inc., et al. Wilchfort, et al. v. Apple Hospitality REIT, Inc., et al. On February 24, 2017, Plaintiff Marsha Wilchfort, purportedly a shareholder of Apple REIT Six, Inc. (“Apple Six”), Apple Seven and Apple Eight, filed a class action against, among others, the Company and the former individual directors of Apple Six, Apple Seven and Apple Eight, including Mr. Glade Knight, on behalf of all then-existing shareholders and former shareholders of Apple Six, Apple Seven and Apple Eight, who purchased additional shares under Apple Six’s, Apple Seven’s and Apple Eight’s DRIP between July 17, 2007 and December 2012 (in the case of Apple Six shareholders) or June 30, 2013 (in the case of Apple Seven and Apple Eight shareholders). The complaint was filed in the United States District Court for the Eastern District of New York and alleges, among other items, breach of contract under Virginia law, tortious interference and breach of implied duty of good faith and fair dealing. The complaint alleges that the prices at which Plaintiff and the purported class members purchased additional shares through the DRIPs were not indicative of the true value of the units of Apple Six, Apple Seven and Apple Eight. The Company believes that Plaintiff’s claims are without merit and intends to defend this case vigorously. At this time, the Company cannot reasonably predict the outcome of this proceeding or provide a reasonable estimate of the possible loss or range of loss due to this proceeding, if any. |
Settlement Proceeds
Settlement Proceeds | 12 Months Ended |
Dec. 31, 2017 | |
Legal Settlement Recoveries [Abstract] | |
Legal Settlement Recoveries [Text Block] | Note 15 Settlement Proceeds During the year ended December 31, 2015, the Company received approximately $1.8 million in settlement proceeds, net of costs, from the Deepwater Horizon Economic and Property Damages Settlement Program related to damages suffered at several of the Company’s hotels as a result of the Gulf of Mexico oil spill in 2010, which was classified as a reduction to property taxes, insurance and other expense. |
Quarterly Financial Data (Unaud
Quarterly Financial Data (Unaudited) | 12 Months Ended |
Dec. 31, 2017 | |
Quarterly Financial Information Disclosure [Abstract] | |
Quarterly Financial Information [Text Block] | Note 16 Quarterly Financial Data (Unaudited) The following is a summary of quarterly results of operations for the years ended December 31, 2017 and 2016 (in thousands, except per share data): 2017 First Quarter Second Quarter Third Quarter Fourth Quarter Total revenue $ 292,925 $ 331,704 $ 324,926 $ 289,067 Net income (loss) $ 34,365 $ 87,606 $ 62,824 $ (2,303 ) Comprehensive income $ 35,910 $ 86,431 $ 63,083 $ 2,257 Basic and diluted net income (loss) per common share $ 0.15 $ 0.39 $ 0.28 $ (0.01 ) 2016 First Quarter Second Quarter Third Quarter Fourth Quarter Total revenue $ 224,487 $ 257,636 $ 276,471 $ 282,431 Net income $ 34,686 $ 54,718 $ 13,694 $ 41,554 Comprehensive income $ 27,992 $ 49,217 $ 17,955 $ 56,134 Basic and diluted net income per common share $ 0.20 $ 0.31 $ 0.07 $ 0.19 Net income for the second quarter of 2017 includes a gain on sale of real estate of $16.1 million, representing net income of $0.07 per basic and diluted common share. Net loss for the fourth quarter of 2017 includes a loss on impairment of depreciable assets of $38.0 million, representing a net loss of $(0.17) per basic and diluted common share. Net income (loss) per common share for the four quarters of 2017 are non-additive in comparison to net income per common share for the year ended December 31, 2017 due to the equity issued in the fourth quarter of 2017 under the ATM Program. Net income for the third quarter of 2016 includes costs incurred to defend and settle the litigation related to the Apple Ten merger of $33.8 million, representing a net loss of $(0.18) per basic and diluted common share. Net income per common share for the four quarters of 2016 are non-additive in comparison to net income per common share for the year ended December 31, 2016 due to the equity issued in connection with the Apple Ten merger, effective September 1, 2016. |
Subsequent Events
Subsequent Events | 12 Months Ended |
Dec. 31, 2017 | |
Subsequent Events [Abstract] | |
Subsequent Events [Text Block] | Note 17 Subsequent Events In both January 2018 and February 2018, the Company paid approximately $23.0 million, or $0.10 per outstanding common share, in distributions to its common shareholders. In February 2018, the Company declared a regular monthly cash distribution of $0.10 per common share for the month of March 2018. The distribution is payable on March 15, 2018. On February 5, 2018, the Company closed on the purchase of an existing 119-room Hampton Inn & Suites in Atlanta, Georgia and an existing 144-room Hampton Inn & Suites in Memphis, Tennessee for a gross purchase price of $63.0 million. |
SCHEDULE III, Real Estate and A
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure | 12 Months Ended |
Dec. 31, 2017 | |
SEC Schedule III, Real Estate and Accumulated Depreciation Disclosure [Abstract] | |
SEC Schedule III, Real Estate and Accumulated Depreciation Disclosure [Text Block] | SCHEDULE III Real Estate and Accumulated Depreciation As of December 31, 2017 (dollars in thousands) Subsequently Capitalized Initial Cost Bldg. Imp. & FF&E Total Gross Cost (2) City State Description Encumbrances Land (1) Bldg./ FF&E /Other Acc. Deprec. Date of Construction Date Acquired Depreciable Life # of Rooms Anchorage AK Embassy Suites $ 20,560 $ 2,955 $ 39,053 $ 4,103 $ 46,111 $ (10,911 ) 2008 Apr-10 3 - 39 yrs. 169 Anchorage AK Home2 Suites - 2,683 21,606 - 24,289 (64 ) 2015 Dec-17 3 - 39 yrs. 135 Auburn AL Hilton Garden Inn - 1,580 9,659 223 11,462 (1,585 ) 2001 Mar-14 3 - 39 yrs. 101 Birmingham AL Courtyard - 2,310 6,425 1,142 9,877 (1,015 ) 2007 Mar-14 3 - 39 yrs. 84 Birmingham AL Hilton Garden Inn - 3,425 15,853 - 19,278 (204 ) 2017 Sep-17 3 - 39 yrs. 104 Birmingham AL Home2 Suites - 3,491 15,901 - 19,392 (196 ) 2017 Sep-17 3 - 39 yrs. 106 Birmingham AL Homewood Suites - 1,010 12,981 1,730 15,721 (2,101 ) 2005 Mar-14 3 - 39 yrs. 95 Dothan AL Hilton Garden Inn - 1,037 10,581 182 11,800 (3,359 ) 2009 Jun-09 3 - 39 yrs. 104 Dothan AL Residence Inn - 970 13,185 822 14,977 (1,608 ) 2008 Mar-14 3 - 39 yrs. 84 Huntsville AL Hampton - 550 11,962 7 12,519 (555 ) 2013 Sep-16 3 - 39 yrs. 98 Huntsville AL Hilton Garden Inn - 890 11,227 268 12,385 (1,623 ) 2005 Mar-14 3 - 39 yrs. 101 Huntsville AL Home2 Suites - 490 10,840 5 11,335 (497 ) 2013 Sep-16 3 - 39 yrs. 77 Huntsville AL Homewood Suites 7,483 210 15,654 1,782 17,646 (2,285 ) 2006 Mar-14 3 - 39 yrs. 107 Mobile AL Hampton - - 11,452 231 11,683 (531 ) 2006 Sep-16 3 - 39 yrs. 101 Montgomery AL Hilton Garden Inn - 2,640 12,315 285 15,240 (1,858 ) 2003 Mar-14 3 - 39 yrs. 97 Montgomery AL Homewood Suites - 1,760 10,818 296 12,874 (1,854 ) 2004 Mar-14 3 - 39 yrs. 91 Prattville AL Courtyard 5,943 2,050 9,101 922 12,073 (1,490 ) 2007 Mar-14 3 - 39 yrs. 84 Rogers AR Hampton - 961 8,483 875 10,319 (2,571 ) 1998 Aug-10 3 - 39 yrs. 122 Rogers AR Homewood Suites - 1,375 9,514 2,226 13,115 (3,791 ) 2006 Apr-10 3 - 39 yrs. 126 Rogers AR Residence Inn - 1,130 12,417 332 13,879 (1,831 ) 2003 Mar-14 3 - 39 yrs. 88 Springdale AR Residence Inn - 330 8,651 315 9,296 (1,080 ) 2001 Mar-14 3 - 39 yrs. 72 Chandler AZ Courtyard - 1,061 16,008 1,540 18,609 (4,171 ) 2009 Nov-10 3 - 39 yrs. 150 Chandler AZ Fairfield Inn & Suites - 778 11,272 978 13,028 (2,849 ) 2009 Nov-10 3 - 39 yrs. 110 Phoenix AZ Courtyard - 1,413 14,669 2,174 18,256 (4,570 ) 2007 Nov-10 3 - 39 yrs. 164 Phoenix AZ Courtyard - 1,730 17,401 95 19,226 (795 ) 2008 Sep-16 3 - 39 yrs. 127 Phoenix AZ Hampton - - 15,209 137 15,346 (739 ) 2008 Sep-16 3 - 39 yrs. 125 Phoenix AZ Homewood Suites - - 18,907 79 18,986 (950 ) 2008 Sep-16 3 - 39 yrs. 134 Phoenix AZ Residence Inn - 1,111 12,953 1,616 15,680 (3,779 ) 2008 Nov-10 3 - 39 yrs. 129 Scottsdale AZ Hilton Garden Inn - 6,000 26,861 237 33,098 (1,087 ) 2005 Sep-16 3 - 39 yrs. 122 Tucson AZ Hilton Garden Inn - 1,005 17,925 1,829 20,759 (5,756 ) 2008 Jul-08 3 - 39 yrs. 125 Tucson AZ Residence Inn - 2,080 12,424 1,494 15,998 (1,766 ) 2008 Mar-14 3 - 39 yrs. 124 Tucson AZ TownePlace Suites - 992 14,543 109 15,644 (3,230 ) 2011 Oct-11 3 - 39 yrs. 124 Agoura Hills CA Homewood Suites - 3,430 21,290 2,179 26,899 (3,302 ) 2007 Mar-14 3 - 39 yrs. 125 Burbank CA Courtyard 24,917 12,916 41,218 422 54,556 (3,297 ) 2002 Aug-15 3 - 39 yrs. 190 Burbank CA Residence Inn - 32,270 41,559 2,406 76,235 (5,606 ) 2007 Mar-14 3 - 39 yrs. 166 Burbank CA SpringHill Suites - 10,734 49,181 38 59,953 (3,844 ) 2015 Jul-15 3 - 39 yrs. 170 Clovis CA Hampton - 1,287 9,888 865 12,040 (2,903 ) 2009 Jul-09 3 - 39 yrs. 86 Clovis CA Homewood Suites - 1,500 10,970 96 12,566 (3,042 ) 2010 Feb-10 3 - 39 yrs. 83 Cypress CA Courtyard - 4,410 35,033 685 40,128 (4,825 ) 1988 Mar-14 3 - 39 yrs. 180 Cypress CA Hampton - 3,209 16,749 1,965 21,923 (1,583 ) 2006 Jun-15 3 - 39 yrs. 110 Oceanside CA Courtyard 13,332 3,080 25,769 146 28,995 (1,047 ) 2011 Sep-16 3 - 39 yrs. 142 Oceanside CA Residence Inn - 7,790 24,048 1,649 33,487 (3,294 ) 2007 Mar-14 3 - 39 yrs. 125 Rancho Bernardo/San Diego CA Courtyard 13,692 16,380 28,952 480 45,812 (4,113 ) 1987 Mar-14 3 - 39 yrs. 210 Sacramento CA Hilton Garden Inn - 5,920 21,515 3,216 30,651 (3,454 ) 1999 Mar-14 3 - 39 yrs. 153 San Bernardino CA Residence Inn - 1,490 13,662 1,708 16,860 (3,659 ) 2006 Feb-11 3 - 39 yrs. 95 San Diego CA Courtyard 24,828 11,268 44,851 583 56,702 (3,620 ) 2002 Sep-15 3 - 39 yrs. 245 San Diego CA Hampton 18,483 13,570 36,644 2,657 52,871 (4,750 ) 2001 Mar-14 3 - 39 yrs. 177 San Diego CA Hilton Garden Inn - 8,020 29,151 358 37,529 (4,022 ) 2004 Mar-14 3 - 39 yrs. 200 San Diego CA Residence Inn 16,733 22,400 20,640 309 43,349 (3,239 ) 1999 Mar-14 3 - 39 yrs. 121 San Jose CA Homewood Suites 30,000 12,860 28,084 4,980 45,924 (5,530 ) 1991 Mar-14 3 - 39 yrs. 140 San Juan Capistrano CA Residence Inn 15,774 - 32,292 44 32,336 (1,384 ) 2012 Sep-16 3 - 39 yrs. 130 Santa Ana CA Courtyard - 3,082 21,051 147 24,280 (4,886 ) 2011 May-11 3 - 39 yrs. 155 Santa Clarita CA Courtyard - 4,568 18,721 2,246 25,535 (6,560 ) 2007 Sep-08 3 - 39 yrs. 140 Santa Clarita CA Fairfield Inn - 1,864 7,753 1,834 11,451 (3,088 ) 1997 Oct-08 3 - 39 yrs. 66 Santa Clarita CA Hampton - 1,812 15,761 1,999 19,572 (5,977 ) 1988 Oct-08 3 - 39 yrs. 128 Santa Clarita CA Residence Inn - 2,539 14,493 3,917 20,949 (6,153 ) 1997 Oct-08 3 - 39 yrs. 90 Tulare CA Hampton - 400 9,194 1,061 10,655 (1,437 ) 2008 Mar-14 3 - 39 yrs. 86 Tustin CA Fairfield Inn & Suites - 7,700 26,580 68 34,348 (1,132 ) 2013 Sep-16 3 - 39 yrs. 145 Tustin CA Residence Inn - 11,680 33,645 70 45,395 (1,477 ) 2013 Sep-16 3 - 39 yrs. 149 Colorado Springs CO Hampton 7,754 1,780 15,860 29 17,669 (740 ) 2008 Sep-16 3 - 39 yrs. 101 Denver CO Hilton Garden Inn 33,046 9,940 57,595 131 67,666 (2,618 ) 2007 Sep-16 3 - 39 yrs. 221 Highlands Ranch CO Hilton Garden Inn - 5,480 20,465 246 26,191 (2,654 ) 2006 Mar-14 3 - 39 yrs. 128 Highlands Ranch CO Residence Inn - 5,350 19,167 2,814 27,331 (3,286 ) 1996 Mar-14 3 - 39 yrs. 117 Boca Raton FL Hilton Garden Inn - 7,220 22,177 344 29,741 (1,012 ) 2002 Sep-16 3 - 39 yrs. 149 Cape Canaveral FL Homewood Suites - 2,780 23,967 32 26,779 (1,219 ) 2016 Sep-16 3 - 39 yrs. 153 Fort Lauderdale FL Hampton - 2,235 17,590 2,880 22,705 (5,810 ) 2001 Dec-08 3 - 39 yrs. 109 Fort Lauderdale FL Hampton - 1,793 21,357 4,405 27,555 (2,424 ) 2002 Jun-15 3 - 39 yrs. 156 Fort Lauderdale FL Residence Inn - 5,760 26,727 - 32,487 (1,227 ) 2014 Sep-16 3 - 39 yrs. 156 Gainesville FL Hilton Garden Inn - 1,300 17,322 109 18,731 (758 ) 2007 Sep-16 3 - 39 yrs. 104 Gainesville FL Homewood Suites - 1,740 16,329 51 18,120 (772 ) 2005 Sep-16 3 - 39 yrs. 103 Jacksonville FL Homewood Suites - 9,480 21,247 1,914 32,641 (3,749 ) 2005 Mar-14 3 - 39 yrs. 119 Lakeland FL Courtyard - 3,740 10,813 1,305 15,858 (1,653 ) 2000 Mar-14 3 - 39 yrs. 78 Miami FL Courtyard - - 31,488 1,569 33,057 (4,004 ) 2008 Mar-14 3 - 39 yrs. 118 Miami FL Hampton - 1,972 9,987 2,711 14,670 (4,413 ) 2000 Apr-10 3 - 39 yrs. 121 Miami FL Homewood Suites 15,022 18,820 25,375 3,435 47,630 (4,552 ) 2000 Mar-14 3 - 39 yrs. 162 Orlando FL Fairfield Inn & Suites - 3,140 22,580 695 26,415 (6,619 ) 2009 Jul-09 3 - 39 yrs. 200 Orlando FL SpringHill Suites - 3,141 25,779 2,286 31,206 (7,566 ) 2009 Jul-09 3 - 39 yrs. 200 Panama City FL Hampton - 1,605 9,995 984 12,584 (3,142 ) 2009 Mar-09 3 - 39 yrs. 95 Panama City FL TownePlace Suites - 908 9,549 254 10,711 (2,728 ) 2010 Jan-10 3 - 39 yrs. 103 Pensacola FL TownePlace Suites - 1,770 12,562 51 14,383 (567 ) 2008 Sep-16 3 - 39 yrs. 97 Sanford FL SpringHill Suites - 1,050 12,830 1,453 15,333 (2,327 ) 2000 Mar-14 3 - 39 yrs. 105 Sarasota FL Homewood Suites - 480 14,120 486 15,086 (2,279 ) 2005 Mar-14 3 - 39 yrs. 100 Tallahassee FL Fairfield Inn & Suites - 960 11,734 29 12,723 (493 ) 2011 Sep-16 3 - 39 yrs. 97 Tallahassee FL Hilton Garden Inn - - 10,938 233 11,171 (1,560 ) 2006 Mar-14 3 - 39 yrs. 85 Tampa FL Embassy Suites - 1,824 20,034 2,980 24,838 (5,636 ) 2007 Nov-10 3 - 39 yrs. 147 Tampa FL TownePlace Suites - 1,430 9,015 371 10,816 (1,659 ) 1999 Mar-14 3 - 39 yrs. 94 Albany GA Fairfield Inn & Suites - 899 7,263 147 8,309 (2,137 ) 2010 Jan-10 3 - 39 yrs. 87 Atlanta GA Home2 Suites - 740 23,819 - 24,559 (1,228 ) 2016 Jul-16 3 - 39 yrs. 128 Columbus GA SpringHill Suites - 1,270 10,060 (4,700 ) (3) 6,630 (1,113 ) 2008 Mar-14 3 - 39 yrs. 89 Columbus (4) GA TownePlace Suites - - 7,467 (1,493 ) (3) 5,974 (1,174 ) 2008 Mar-14 3 - 39 yrs. 86 Macon GA Hilton Garden Inn - - 15,043 332 15,375 (2,051 ) 2007 Mar-14 3 - 39 yrs. 101 Savannah GA Hilton Garden Inn - - 14,716 900 15,616 (1,819 ) 2004 Mar-14 3 - 39 yrs. 105 Cedar Rapids IA Hampton - 1,590 11,364 55 13,009 (594 ) 2009 Sep-16 3 - 39 yrs. 103 Cedar Rapids IA Homewood Suites - 1,770 13,116 18 14,904 (539 ) 2010 Sep-16 3 - 39 yrs. 95 Davenport IA Hampton - 400 16,915 65 17,380 (782 ) 2007 Sep-16 3 - 39 yrs. 103 Boise ID Hampton 23,422 1,335 21,114 2,598 25,047 (6,503 ) 2007 Apr-10 3 - 39 yrs. 186 Boise ID SpringHill Suites - 2,120 24,112 3,966 30,198 (4,242 ) 1992 Mar-14 3 - 39 yrs. 230 Des Plaines IL Hilton Garden Inn - 10,000 38,186 315 48,501 (1,612 ) 2005 Sep-16 3 - 39 yrs. 252 Hoffman Estates IL Hilton Garden Inn - 1,770 14,373 357 16,500 (695 ) 2000 Sep-16 3 - 39 yrs. 184 Mettawa IL Hilton Garden Inn - 2,246 28,328 2,376 32,950 (6,790 ) 2008 Nov-10 3 - 39 yrs. 170 Mettawa IL Residence Inn - 1,722 21,843 1,578 25,143 (5,243 ) 2008 Nov-10 3 - 39 yrs. 130 Rosemont IL Hampton - 3,410 23,594 3 27,007 (1,144 ) 2015 Sep-16 3 - 39 yrs. 158 Schaumburg IL Hilton Garden Inn - 1,450 19,122 2,223 22,795 (5,235 ) 2008 Nov-10 3 - 39 yrs. 166 Skokie IL Hampton - 2,650 31,284 1,019 34,953 (1,345 ) 2000 Sep-16 3 - 39 yrs. 225 Warrenville IL Hilton Garden Inn - 1,171 20,894 2,144 24,209 (5,126 ) 2008 Nov-10 3 - 39 yrs. 135 Indianapolis IN SpringHill Suites - 1,310 11,542 1,787 14,639 (3,182 ) 2007 Nov-10 3 - 39 yrs. 130 Merrillville IN Hilton Garden Inn - 1,860 17,755 443 20,058 (810 ) 2008 Sep-16 3 - 39 yrs. 124 Mishawaka IN Residence Inn - 898 12,862 1,411 15,171 (3,234 ) 2007 Nov-10 3 - 39 yrs. 106 South Bend IN Fairfield Inn & Suites - 2,090 23,361 122 25,573 (924 ) 2010 Sep-16 3 - 39 yrs. 119 Overland Park KS Fairfield Inn & Suites - 1,230 11,713 102 13,045 (1,449 ) 2008 Mar-14 3 - 39 yrs. 110 Overland Park KS Residence Inn - 1,790 20,633 2,377 24,800 (3,497 ) 2000 Mar-14 3 - 39 yrs. 120 Overland Park KS SpringHill Suites - 1,060 8,263 353 9,676 (1,776 ) 1998 Mar-14 3 - 39 yrs. 102 Wichita KS Courtyard - 1,940 9,739 897 12,576 (1,990 ) 2000 Mar-14 3 - 39 yrs. 90 Baton Rouge LA SpringHill Suites - 1,280 13,870 (3,464 ) (3) 11,686 (3,713 ) 2009 Sep-09 3 - 39 yrs. 119 Lafayette LA Hilton Garden Inn - - 17,898 2,621 20,519 (5,689 ) 2006 Jul-10 3 - 39 yrs. 153 Lafayette LA SpringHill Suites - 709 9,400 97 10,206 (2,339 ) 2011 Jun-11 3 - 39 yrs. 103 New Orleans LA Homewood Suites 24,919 4,150 52,258 4,083 60,491 (7,274 ) 2002 Mar-14 3 - 39 yrs. 166 Andover MA SpringHill Suites - 702 5,799 2,411 8,912 (2,768 ) 2001 Nov-10 3 - 39 yrs. 136 Marlborough MA Residence Inn - 3,480 17,341 1,612 22,433 (2,729 ) 2006 Mar-14 3 - 39 yrs. 112 Westford MA Hampton - 3,410 16,320 1,313 21,043 (2,349 ) 2007 Mar-14 3 - 39 yrs. 110 Westford MA Residence Inn 9,386 1,760 20,791 360 22,911 (2,575 ) 2001 Mar-14 3 - 39 yrs. 108 Annapolis MD Hilton Garden Inn - 4,350 13,974 1,716 20,040 (2,285 ) 2007 Mar-14 3 - 39 yrs. 126 Silver Spring MD Hilton Garden Inn - 1,361 16,094 420 17,875 (4,156 ) 2010 Jul-10 3 - 39 yrs. 107 Portland ME Residence Inn - 4,440 51,534 71 56,045 (385 ) 2009 Oct-17 3 - 39 yrs. 179 Novi MI Hilton Garden Inn - 1,213 15,052 1,874 18,139 (4,161 ) 2008 Nov-10 3 - 39 yrs. 148 Maple Grove MN Hilton Garden Inn - 1,560 13,717 183 15,460 (635 ) 2003 Sep-16 3 - 39 yrs. 120 Rochester MN Hampton - 916 13,225 785 14,926 (4,099 ) 2009 Aug-09 3 - 39 yrs. 124 Kansas City MO Hampton - 727 9,363 1,143 11,233 (2,812 ) 1999 Aug-10 3 - 39 yrs. 122 Kansas City MO Residence Inn - 2,000 20,818 1,832 24,650 (2,636 ) 2002 Mar-14 3 - 39 yrs. 106 St. Louis MO Hampton - 1,758 20,954 5,992 28,704 (6,507 ) 2003 Aug-10 3 - 39 yrs. 190 St. Louis MO Hampton - 758 15,287 1,934 17,979 (4,518 ) 2006 Apr-10 3 - 39 yrs. 126 Hattiesburg MS Courtyard 5,212 1,390 11,324 1,113 13,827 (1,492 ) 2006 Mar-14 3 - 39 yrs. 84 Hattiesburg MS Residence Inn - 906 9,151 956 11,013 (3,010 ) 2008 Dec-08 3 - 39 yrs. 84 Carolina Beach NC Courtyard - 7,490 31,588 2,445 41,523 (3,802 ) 2003 Mar-14 3 - 39 yrs. 144 Charlotte NC Fairfield Inn & Suites - 1,030 11,111 83 12,224 (476 ) 2010 Sep-16 3 - 39 yrs. 94 Charlotte NC Homewood Suites - 1,031 4,937 6,435 12,403 (5,712 ) 1990 Sep-08 3 - 39 yrs. 118 Durham NC Homewood Suites - 1,232 18,343 4,763 24,338 (7,331 ) 1999 Dec-08 3 - 39 yrs. 122 Fayetteville NC Home2 Suites - 746 10,563 44 11,353 (2,933 ) 2011 Feb-11 3 - 39 yrs. 118 Fayetteville NC Residence Inn - 3,530 19,799 198 23,527 (2,786 ) 2006 Mar-14 3 - 39 yrs. 92 Greensboro NC SpringHill Suites - 1,850 10,157 344 12,351 (1,522 ) 2004 Mar-14 3 - 39 yrs. 82 Holly Springs NC Hampton - 1,620 13,260 208 15,088 (3,605 ) 2010 Nov-10 3 - 39 yrs. 124 Jacksonville NC Home2 Suites - 910 12,527 44 13,481 (565 ) 2012 Sep-16 3 - 39 yrs. 105 Wilmington NC Fairfield Inn & Suites - 1,310 13,034 694 15,038 (1,640 ) 2008 Mar-14 3 - 39 yrs. 122 Winston-Salem NC Courtyard - 3,860 11,585 175 15,620 (1,917 ) 1998 Mar-14 3 - 39 yrs. 122 Winston-Salem NC Hampton - 2,170 14,268 7 16,445 (552 ) 2010 Sep-16 3 - 39 yrs. 94 Omaha NE Courtyard - 6,700 36,829 3,159 46,688 (4,449 ) 1999 Mar-14 3 - 39 yrs. 181 Omaha NE Hampton - 1,710 22,636 88 24,434 (1,013 ) 2007 Sep-16 3 - 39 yrs. 139 Omaha NE Hilton Garden Inn 22,145 1,620 35,962 186 37,768 (1,538 ) 2001 Sep-16 3 - 39 yrs. 178 Omaha NE Homewood Suites - 1,890 22,014 21 23,925 (1,068 ) 2008 Sep-16 3 - 39 yrs. 123 Cranford NJ Homewood Suites - 4,550 23,828 3,631 32,009 (3,951 ) 2000 Mar-14 3 - 39 yrs. 108 Mahwah NJ Homewood Suites - 3,220 22,742 3,981 29,943 (3,543 ) 2001 Mar-14 3 - 39 yrs. 110 Mount Laurel NJ Homewood Suites - 1,589 13,476 2,063 17,128 (4,084 ) 2006 Jan-11 3 - 39 yrs. 118 Somerset NJ Courtyard 7,932 - 27,133 2,351 29,484 (4,742 ) 2002 Mar-14 3 - 25 yrs. 162 West Orange NJ Courtyard - 2,054 19,513 2,294 23,861 (5,063 ) 2005 Jan-11 3 - 39 yrs. 131 Islip/Ronkonkoma NY Hilton Garden Inn - 6,510 28,718 837 36,065 (3,740 ) 2003 Mar-14 3 - 39 yrs. 165 New York NY Renaissance - - 102,832 (74,659 ) (3) 28,173 (11,824 ) 1916 Mar-14 3 - 32 yrs. 205 Syracuse NY Courtyard 10,637 812 23,278 27 24,117 (1,694 ) 2013 Oct-15 3 - 39 yrs. 102 Syracuse NY Residence Inn 10,637 621 17,589 29 18,239 (1,333 ) 2013 Oct-15 3 - 39 yrs. 78 Mason OH Hilton Garden Inn - 1,120 16,770 1,027 18,917 (835 ) 2010 Sep-16 3 - 39 yrs. 110 Twinsburg OH Hilton Garden Inn - 1,419 16,614 3,165 21,198 (6,632 ) 1999 Oct-08 3 - 39 yrs. 142 Oklahoma City OK Hampton - 1,430 31,327 1,395 34,152 (7,798 ) 2009 May-10 3 - 39 yrs. 200 Oklahoma City OK Hilton Garden Inn - 1,270 32,700 15 33,985 (1,406 ) 2014 Sep-16 3 - 39 yrs. 155 Oklahoma City OK Homewood Suites - 760 20,056 7 20,823 (900 ) 2014 Sep-16 3 - 39 yrs. 100 Oklahoma City (West) OK Homewood Suites - 1,280 13,340 35 14,655 (737 ) 2008 Sep-16 3 - 39 yrs. 90 Collegeville/Philadelphia PA Courtyard 11,152 2,115 17,953 2,341 22,409 (5,014 ) 2005 Nov-10 3 - 39 yrs. 132 Malvern/Philadelphia PA Courtyard - 996 20,374 1,869 23,239 (5,202 ) 2007 Nov-10 3 - 39 yrs. 127 Pittsburgh PA Hampton - 2,503 18,537 4,474 25,514 (6,445 ) 1991 Dec-08 3 - 39 yrs. 132 Charleston SC Home2 Suites - 3,250 16,778 93 20,121 (711 ) 2011 Sep-16 3 - 39 yrs. 122 Columbia SC Hilton Garden Inn - 3,540 16,399 346 20,285 (2,603 ) 2006 Mar-14 3 - 39 yrs. 143 Columbia SC TownePlace Suites - 1,330 10,839 933 13,102 (550 ) 2009 Sep-16 3 - 39 yrs. 91 Greenville SC Residence Inn - 900 9,778 305 10,983 (1,553 ) 1998 Mar-14 3 - 39 yrs. 78 Hilton Head SC Hilton Garden Inn - 3,600 11,386 1,163 16,149 (1,521 ) 2001 Mar-14 3 - 39 yrs. 104 Chattanooga TN Homewood Suites - 1,410 9,361 2,617 13,388 (1,866 ) 1997 Mar-14 3 - 39 yrs. 76 Franklin TN Courtyard 14,368 2,510 31,341 20 33,871 (1,318 ) 2008 Sep-16 3 - 39 yrs. 126 Franklin TN Residence Inn 14,368 2,970 29,208 1,253 33,431 (1,331 ) 2009 Sep-16 3 - 39 yrs. 124 Jackson TN Hampton - 692 12,281 770 13,743 (3,678 ) 2007 Dec-08 3 - 39 yrs. 83 Johnson City TN Courtyard - 1,105 8,632 193 9,930 (2,662 ) 2009 Sep-09 3 - 39 yrs. 90 Knoxville TN Homewood Suites - 2,160 14,704 57 16,921 (715 ) 2005 Sep-16 3 - 39 yrs. 103 Knoxville TN SpringHill Suites - 1,840 12,441 68 14,349 (594 ) 2006 Sep-16 3 - 39 yrs. 103 Knoxville TN TownePlace Suites - 1,190 7,920 1,323 10,433 (506 ) 2003 Sep-16 3 - 39 yrs. 97 Memphis TN Homewood Suites - 1,930 13,028 2,989 17,947 (2,947 ) 1989 Mar-14 3 - 39 yrs. 140 Nashville TN Hilton Garden Inn - 2,754 39,997 3,823 46,574 (9,917 ) 2009 Sep-10 3 - 39 yrs. 194 Nashville TN Home2 Suites - 1,153 15,206 170 16,529 (3,181 ) 2012 May-12 3 - 39 yrs. 119 Nashville TN TownePlace Suites - 7,390 13,929 16 21,335 (590 ) 2012 Sep-16 3 - 39 yrs. 101 Addison TX SpringHill Suites - 1,210 19,700 368 21,278 (2,941 ) 2003 Mar-14 3 - 39 yrs. 159 Allen TX Hampton - 1,442 11,456 1,581 14,479 (4,626 ) 2006 Sep-08 3 - 39 yrs. 103 Allen TX Hilton Garden Inn - 2,130 16,731 3,934 22,795 (7,464 ) 2002 Oct-08 3 - 39 yrs. 150 Arlington TX Hampton - 1,217 8,738 979 10,934 (2,440 ) 2007 Dec-10 3 - 39 yrs. 98 Austin TX Courtyard - 1,579 18,487 385 20,451 (4,513 ) 2009 Nov-10 3 - 39 yrs. 145 Austin TX Fairfield Inn & Suites - 1,306 16,504 248 18,058 (4,005 ) 2009 Nov-10 3 - 39 yrs. 150 Austin TX Hampton - 1,459 17,184 2,188 20,831 (5,946 ) 1996 Apr-09 3 - 39 yrs. 124 Austin TX Hilton Garden Inn - 1,614 14,451 1,729 17,794 (3,964 ) 2008 Nov-10 3 - 39 yrs. 117 Austin TX Homewood Suites - 1,898 16,462 2,748 21,108 (6,068 ) 1997 Apr-09 3 - 39 yrs. 97 Austin/Round Rock TX Homewood Suites - 2,180 25,644 40 27,864 (1,011 ) 2010 Sep-16 3 - 39 yrs. 115 Beaumont TX Residence Inn - 1,177 16,180 1,449 18,806 (5,492 ) 2008 Oct-08 3 - 39 yrs. 133 Burleson/Fort Worth TX Hampton - 557 6,601 1,297 8,455 (1,068 ) 2008 Oct-14 3 - 39 yrs. 88 Dallas TX Homewood Suites - 4,920 29,427 35 34,382 (1,275 ) 2013 Sep-16 3 - 39 yrs. 130 Denton TX Homewood Suites - 990 14,895 117 16,002 (793 ) 2009 Sep-16 3 - 39 yrs. 107 Duncanville TX Hilton Garden Inn - 2,378 15,935 2,836 21,149 (6,983 ) 2005 Oct-08 3 - 39 yrs. 142 El Paso TX Hilton Garden Inn - 1,244 18,300 146 19,690 (4,159 ) 2011 Dec-11 3 - 39 yrs. 145 El Paso TX Homewood Suites - 2,800 16,657 1,719 21,176 (2,245 ) 2008 Mar-14 3 - 39 yrs. 114 Fort Worth TX Courtyard - 2,313 15,825 92 18,230 (568 ) 2017 Feb-17 3 - 39 yrs. 124 Fort Worth TX TownePlace Suites - 2,104 16,311 235 18,650 (4,124 ) 2010 Jul-10 3 - 39 yrs. 140 Frisco TX Hilton Garden Inn - 2,507 12,981 1,454 16,942 (4,260 ) 2008 Dec-08 3 - 39 yrs. 102 Grapevine TX Hilton Garden Inn 10,412 1,522 15,543 280 17,345 (4,004 ) 2009 Sep-10 3 - 39 yrs. 110 Houston TX Courtyard - 2,080 21,836 - 23,916 (1,003 ) 2012 Sep-16 3 - 39 yrs. 124 Houston TX Marriott - 4,143 46,623 311 51,077 (12,428 ) 2010 Jan-10 3 - 39 yrs. 206 Houston TX Residence Inn - 12,070 19,769 359 32,198 (3,214 ) 2006 Mar-14 3 - 39 yrs. 129 Houston TX Residence Inn - 2,070 11,186 17 13,273 (578 ) 2012 Sep-16 3 - 39 yrs. 120 Irving TX Homewood Suites - 705 9,610 1,391 11,706 (3,046 ) 2006 Dec-10 3 - 39 yrs. 77 Lewisville TX Hilton Garden Inn - 3,361 23,919 2,240 29,520 (8,833 ) 2007 Oct-08 3 - 39 yrs. 165 Round Rock TX Hampton - 865 10,999 1,539 13,403 (3,991 ) 2001 Mar-09 3 - 39 yrs. 94 San Antonio TX TownePlace Suites - 2,220 9,610 1,067 12,897 (1,597 ) 2007 Mar-14 3 - 39 yrs. 106 Shenandoah TX Courtyard - 3,350 17,256 - 20,606 (811 ) 2014 Sep-16 3 - 39 yrs. 124 Stafford TX Homewood Suites - 1,880 10,969 247 13,096 (1,922 ) 2006 Mar-14 3 - 39 yrs. 78 Texarkana TX Courtyard - 590 7,208 639 8,437 (1,153 ) 2003 Mar-14 3 - 39 yrs. 90 Texarkana TX Hampton - 636 8,723 1,144 10,503 (2,547 ) 2004 Jan-11 3 - 39 yrs. 81 Texarkana TX TownePlace Suites - 430 6,571 (2,198 ) (3) 4,803 (842 ) 2006 Mar-14 3 - 39 yrs. 85 Provo UT Residence Inn - 1,150 18,277 2,127 21,554 (2,757 ) 1996 Mar-14 3 - 39 yrs. 114 Salt Lake City UT Residence Inn - 1,515 24,214 - 25,729 (196 ) 2014 Oct-17 3 - 39 yrs. 136 Salt Lake City UT SpringHill Suites - 1,092 16,465 1,169 18,726 (3,997 ) 2009 Nov-10 3 - 39 yrs. 143 Alexandria VA Courtyard - 6,860 19,681 3,559 30,100 (3,477 ) 1987 Mar-14 3 - 39 yrs. 178 Alexandria VA SpringHill Suites - 5,968 - 18,991 24,959 (5,243 ) 2011 Mar-09 3 - 39 yrs. 155 Bristol VA Courtyard - 1,723 19,162 1,846 22,731 (6,824 ) 2004 Nov-08 3 - 39 yrs. 175 Charlottesville VA Courtyard - 21,130 27,737 389 49,256 (3,733 ) 2000 Mar-14 3 - 39 yrs. 139 Harrisonburg VA Courtyard - 2,480 12,757 383 15,620 (1,808 ) 1999 Mar-14 3 - 39 yrs. 125 Manassas VA Residence Inn - 1,395 14,962 1,661 18,018 (3,900 ) 2006 Feb-11 3 - 39 yrs. 107 Richmond VA Courtyard - 2,003 - 22,972 24,975 (2,725 ) 2014 Jul-12 3 - 39 yrs. 135 Richmond VA Marriott - - 83,698 5,731 89,429 (12,254 ) 1984 Mar-14 3 - 39 yrs. 410 Richmond VA Residence Inn - 1,113 - 12,717 13,830 (1,511 ) 2014 Jul-12 3 - 39 yrs. 75 Richmond VA SpringHill Suites - 1,930 10,726 54 12,710 (589 ) 2008 Sep-16 3 - 39 yrs. 103 Suffolk VA Courtyard - 940 5,186 1,247 7,373 (1,105 ) 2007 Mar-14 3 - 39 yrs. 92 Suffolk VA TownePlace Suites - 710 5,241 634 6,585 (937 ) 2007 Mar-14 3 - 39 yrs. 72 Virginia Beach VA Courtyard - 10,580 29,140 1,782 41,502 (3,579 ) 1999 Mar-14 3 - 39 yrs. 141 Virginia Beach VA Courtyard - 12,000 40,556 3,602 56,158 (5,086 ) 2002 Mar-14 3 - 39 yrs. 160 Kirkland WA Courtyard 11,042 18,950 25,028 271 44,249 (3,691 ) 2006 Mar-14 3 - 39 yrs. 150 Seattle WA Residence Inn 25,687 - 92,786 4,593 97,379 (13,353 ) 1991 Mar-14 3 - 35 yrs. 234 Tukwila WA Homewood Suites 8,549 8,130 16,659 4,410 29,199 (2,939 ) 1992 Mar-14 3 - 39 yrs. 106 Vancouver WA SpringHill Suites - 3,010 16,162 1,473 20,645 (2,438 ) 2007 Mar-14 3 - 39 yrs. 119 Richmond VA Corporate Office - 682 3,723 561 4,966 (1,375 ) 1893 May-13 3 - 39 yrs. N/A $ 457,435 $ 720,465 $ 4,552,869 $ 251,109 $ 5,524,443 $ (731,284 ) 30,322 Real estate owned: 2017 2016 2015 Balance as of January 1 $ 5,381,086 $ 4,064,824 $ 3,789,380 Acquisitions 162,734 1,319,986 255,636 Improvements and Development Costs 69,081 63,364 59,565 Dispositions (42,583 ) (11,951 ) (2,238 ) Assets Held for Sale (4) - (49,666 ) 7,481 Impairment of Depreciable Assets (45,875 ) (5,471 ) (45,000 ) Balance at December 31 $ 5,524,443 $ 5,381,086 $ 4,064,824 Accumulated depreciation: 2017 2016 2015 Balance as of January 1 $ (557,597 ) $ (423,057 ) $ (296,559 ) Depreciation Expense (175,581 ) (147,244 ) (126,530 ) Accumulated Depreciation on Dispositions 1,894 2,038 257 Assets Held for Sale (4) - 10,666 (225 ) Balance at December 31 $ (731,284 ) $ (557,597 ) $ (423,057 ) (1) Land is owned fee simple unless cost is $0, which means the property is subject to a ground lease. (2) The aggregate cost for federal income tax purposes is approximately $5.2 billion at December 31, 2017 (unaudited). (3) Amount includes a reduction in cost due to recognition of an impairment loss. (4) As of December 31, 2016, the Company had one hotel classified as held for sale, which was not included in this schedule, and was sold during 2017. As of December 31, 2014, the Company had 19 hotels classified as held for sale which were not included in this schedule, of which 18 of the hotels were sold and the remaining hotel (Columbus, Georgia TownePlace Suites) was reclassified as held and used during 2015. |
Accounting Policies, by Policy
Accounting Policies, by Policy (Policies) | 12 Months Ended |
Dec. 31, 2017 | |
Accounting Policies [Abstract] | |
Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block] | Organization Apple Hospitality REIT, Inc., formed in November 2007 as a Virginia corporation, together with its wholly-owned subsidiaries (the “Company”), is a self-advised real estate investment trust (“REIT”) that invests in income-producing real estate, primarily in the lodging sector, in the United States. The Company’s fiscal year end is December 31. The Company has no foreign operations or assets and its operating structure includes only one reportable segment. The consolidated financial statements include the accounts of the Company and its subsidiaries. All intercompany accounts and transactions have been eliminated. Although the Company has interests in potential variable interest entities through its purchase commitments, it is not the primary beneficiary as the Company does not have any elements of power in the decision making process of these entities, and therefore does not consolidate the entities. As of December 31, 2017, the Company owned 239 hotels with an aggregate of 30,322 rooms located in 34 states. All information related to the number of rooms included in these notes to the consolidated financial statements and Schedule III - Real Estate and Accumulated Depreciation listed in the Index at Item 15(2) has not been audited. The Company’s common shares are listed on the New York Stock Exchange (“NYSE”) under the ticker symbol “APLE.” The Company has elected to be treated as a REIT for federal income tax purposes. The Company has a wholly-owned taxable REIT subsidiary (or subsidiaries thereof) (collectively, the “Lessee”), which leases all of the Company’s hotels. |
Cash and Cash Equivalents, Policy [Policy Text Block] | Cash and Cash Equivalents Cash and cash equivalents consist of highly liquid investments with original maturities of three months or less. The fair market value of cash and cash equivalents approximates their carrying value. Cash balances may at times exceed federal depository insurance limits. |
Cash and Cash Equivalents, Restricted Cash and Cash Equivalents, Policy [Policy Text Block] | Restricted Cash Restricted cash includes reserves for debt service, real estate taxes, and insurance, and reserves for furniture, fixtures, and equipment replacements of up to 5% of property revenue for certain hotels, as required by certain management or mortgage debt agreement restrictions and provisions. The fair market value of restricted cash approximates its carrying value. |
Property, Plant and Equipment, Policy [Policy Text Block] | Investment in Real Estate and Related Depreciation Real estate is stated at cost, net of depreciation. Repair and maintenance costs are expensed as incurred while significant improvements, renovations, and replacements are capitalized. Depreciation is computed using the straight-line method over average estimated useful lives of the assets, which are generally 39 years for buildings, 10 to 20 years for franchise fees, 10 years for major improvements and three to seven years for furniture and equipment. The Company considers expenditures to be capital in nature based on the following criteria: (1) for a single asset, the cost must be at least $500, including all normal and necessary costs to place the asset in service, and the useful life must be at least one year; (2) for group purchases of 10 or more identical assets, the unit cost for each asset must be at least $50, including all normal and necessary costs to place the asset in service, and the useful life must be at least one year; and (3) for major repairs to a single asset, the repair must be at least $2,500 and the useful life of the asset must be substantially extended. Upon acquisition of real estate properties, the Company estimates the fair value of acquired tangible assets (consisting of land, buildings and improvements, and furniture, fixtures and equipment) and identified intangible assets and liabilities, including in-place leases, and assumed debt based on evaluation of information and estimates available at that date. Fair values for these assets are not directly observable and estimates are based on comparables and other information which is subjective in nature. The Company has not assigned any value to management contracts and franchise agreements as such contracts are generally at current market rates based on the remaining terms of the contracts and any other value attributable to these contracts is not considered material. Prior to January 1, 2017, the Company’s acquisitions of hotel properties were accounted for as acquisitions of existing businesses, and therefore all transaction costs associated with the acquisitions, including title, legal, accounting, brokerage commissions and other related costs, were expensed as incurred. Beginning January 1, 2017, acquisitions of hotel properties have been and will generally be accounted for as acquisitions of a group of assets, with costs incurred to effect an acquisition being capitalized as part of the cost of the assets acquired, instead of accounted for separately as expenses in the period that they are incurred. The Company records impairment losses on hotel properties used in operations if indicators of impairment are present, and the sum of the undiscounted cash flows estimated to be generated by the respective properties over their estimated remaining useful life, based on historical and industry data, is less than the properties’ carrying amount. Indicators of impairment include a property with current or potential losses from operations, when it becomes more likely than not that a property will be sold before the end of its previously estimated useful life or when events, trends, contingencies or changes in circumstances indicate that a triggering event has occurred and an asset’s carrying value may not be recoverable. The Company monitors its properties on an ongoing basis by analytically reviewing financial performance and considers each property individually for purposes of reviewing for indicators of impairment. As many indicators of impairment are subjective, such as general economic and market declines, the Company also prepares an annual recoverability analysis for each of its properties to assist with its evaluation of impairment indicators. The analysis compares each property’s net book value to each property’s estimated operating income using current operating results for each stabilized property and projected stabilized operating results based on the property’s market for properties that recently opened, were recently renovated or experienced other short-term business disruption. The Company’s planned initial hold period for each property is generally 39 years. If events or circumstances change, such as the Company’s intended hold period for a property or if the operating performance of a property declines substantially for an extended period of time, the Company’s carrying value for a particular property may not be recoverable, and an impairment loss will be recorded. Impairment losses are measured as the difference between the asset’s fair value and its carrying value. The Company’s ongoing analyses and annual recoverability analyses have not identified any impairment losses other than the losses on impairment of three properties recorded in 2017, one property recorded in 2016 and one property recorded in 2015 totaling approximately $45.9 million, $5.5 million and $45.0 million, respectively, as discussed in Note 3. |
Assets Held for Sale, Policy [Policy Text Block] | Assets Held for Sale The Company classifies assets as held for sale when a binding agreement to sell the property has been signed under which the buyer has committed a significant amount of nonrefundable cash, no significant contingencies exist which could prevent the transaction from being completed in a timely manner, and the sale is expected to close within one year. If these criteria are met, the Company will cease recording depreciation and will record an impairment charge if the fair value less costs to sell is less than the carrying amount of the disposal group. The Company will generally classify the impairment charge, together with the related operating results, as continuing operations in the Company’s consolidated statements of operations and classify the assets and related liabilities as held for sale in the Company’s consolidated balance sheets. If the Company’s plan of sale changes and the Company subsequently decides not to sell a property that is classified as held for sale, the property will be reclassified as held and used in the period the change occurs. As of December 31, 2017, the Company did not have any assets classified as held for sale. As of December 31, 2016, the Company had one hotel classified as held for sale, which was sold to an unrelated party in April 2017, discussed further in Notes 3 and 4. |
Revenue Recognition, Policy [Policy Text Block] | Revenue Recognition Hotel revenue is recognized as earned, which is generally defined as the date upon which a guest occupies a room or utilizes the hotel’s services. |
Comprehensive Income, Policy [Policy Text Block] | Comprehensive Income Comprehensive income includes net income and other comprehensive income (loss), which is comprised of unrealized gains (losses) and other adjustments resulting from hedging activity. |
Earnings Per Share, Policy [Policy Text Block] | Net Income Per Common Share Basic net income per common share is computed based upon the weighted average number of shares outstanding during the year. Diluted net income per common share is calculated after giving effect to all potential common shares that were dilutive and outstanding for the year. Basic and dilutive net income per common share were the same for each of the years presented. |
Income Tax, Policy [Policy Text Block] | Income Taxes The Company is operated as, and has elected to be taxed as, a REIT under Sections 856 to 860 of the Internal Revenue Code. Earnings and profits, which will determine the taxability of distributions to shareholders, will differ from income reported for financial reporting purposes primarily due to the differences for federal income tax purposes in the carrying value (basis) of the investment in properties and estimated useful lives used to compute depreciation, transaction and litigation costs (reimbursements), straight-line ground lease expense, amortization of favorable and unfavorable leases, loss on impairment of depreciable real estate assets and gain (loss) on sale of real estate assets. The characterization of 2017 paid distributions of $1.20 per share for tax purposes was 94% ordinary income and 6% return of capital. The characterization of 2016 paid distributions of $1.20 per share for tax purposes was 76% ordinary income and 24% return of capital. The characterization of 2015 paid distributions of $1.27 per share for tax purposes was 72% ordinary income, 15% return of capital, 8% unrecaptured Section 1250 gain and 5% long-term capital gain. The Lessee, as a taxable REIT subsidiary of the Company, is subject to federal and state income taxes. Due to historical cumulative operating losses, the taxable REIT subsidiary did not incur federal income tax for the three years ended December 31, 2017 and recorded a valuation allowance against the entire deferred asset for all periods presented. The total net operating loss carry forward for federal income tax purposes was approximately $95 million as of December 31, 2017, $94 million as of December 31, 2016 and $100 million as of December 31, 2015. The net operating losses expire beginning in 2028. There are no material differences between the book and tax cost basis of the Company’s assets and liabilities, except for the carrying value (basis) of the investment in properties. The Company’s income tax expense as shown in the consolidated statements of operations primarily includes franchise and income taxes at the state jurisdiction level, which do not have any associated material deferred taxes. As of December 31, 2017, the tax years that remain subject to examination by major tax jurisdictions generally include 2014-2017. On December 22, 2017, the Tax Cuts and Jobs Act (the “Act”) was signed into law, and is effective as of January 1, 2018. Based on the Company’s initial assessment of the Act, it is not expected to have a material impact on the Company’s consolidated financial statements. |
Advertising Cost, Policy, Expensed Advertising Cost [Policy Text Block] | Sales and Marketing Costs Sales and marketing costs are expensed when incurred. These costs represent the expense for franchise advertising and reservation systems under the terms of the hotel management and franchise agreements and general and administrative expenses that are directly attributable to advertising and promotion. |
Use of Estimates, Policy [Policy Text Block] | Use of Estimates The preparation of the financial statements in conformity with United States generally accepted accounting principles requires management to make estimates and assumptions that affect the amounts reported in the consolidated financial statements and accompanying notes. Actual results could differ from those estimates. |
Reclassification, Policy [Policy Text Block] | Reclassifications Certain prior year amounts in the consolidated financial statements have been reclassified to conform to the current year presentation with no effect on previously reported net income, shareholders’ equity or cash flows. |
New Accounting Pronouncements, Policy [Policy Text Block] | Accounting Standards Recently Adopted In January 2017, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2017-01, Business Combinations (Topic 805), Clarifying the Definition of a Business In March 2016, the FASB issued ASU No. 2016-09, Compensation – Stock Compensation (Topic 718), Improvements to Employee Share-Based Payment Accounting, Accounting Standards Recently Issued In May 2014, the FASB issued ASU No. 2014-09, Revenue from Contracts with Customers (Topic 606) Revenue from Contracts with Customers (Topic 606) Revenue from Contracts with Customers (Topic 606): Deferral of the Effective Date, In February 2016, the FASB issued ASU No. 2016-02, Leases (Topic 842) The standard requires a modified retrospective transition approach for all leases existing at, or entered into after, the date of initial application, with an option to use certain transition relief. In August 2016, the FASB issued ASU No. 2016-15, Statement of Cash Flows (Topic 230), Classification of Certain Cash Receipts and Cash Payments In November 2016, the FASB issued ASU No. 2016-18, Statement of Cash Flows (Topic 230), Restricted Cash In February 2017, the FASB issued ASU No. 2017-05, Other Income—Gains and Losses from the Derecognition of Nonfinancial Assets (Subtopic 610-20), Clarifying the Scope of Asset Derecognition Guidance and Accounting for Partial Sales of Nonfinancial Assets Accounting Standards Codification (“ASC”) he adoption of this standard is not expected to have a material impact on the Company’s consolidated financial statements. In August 2017, the FASB issued ASU No. 2017-12, Derivatives and Hedging (Topic 815), Targeted Improvements to Accounting for Hedging Activities adoption of this standard is not expected to have a material impact on the Company’s consolidated financial statements. |
Merger with Apple REIT Ten, I27
Merger with Apple REIT Ten, Inc. (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Disclosure Text Block Supplement [Abstract] | |
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Table Text Block] | The following table summarizes the Company’s purchase price allocation for the merger, which represents its best estimate of the fair values of the assets acquired and liabilities assumed on September 1, 2016, the effective date of the merger (in thousands): Purchase Price Allocation Assets: Land $ 150,780 Building and improvements 1,066,379 Furniture, fixtures and equipment 75,345 Franchise fees 2,917 Investment in real estate 1,295,421 Restricted cash, due from third party managers and other assets 33,579 Total assets 1,329,000 Liabilities: Credit facility 111,100 Mortgage debt 151,885 Accounts payable and other liabilities 16,339 Total liabilities 279,324 Fair value estimate of net assets acquired (total consideration paid) $ 1,049,676 |
Business Acquisition, Pro Forma Information [Table Text Block] | The following unaudited pro forma information for the years ended December 31, 2017 and 2016, is presented as if the merger, effective September 1, 2016, had occurred on January 1, 2016, and is based on assumptions and estimates considered appropriate by the Company. The pro forma information is provided for illustrative purposes only and does not necessarily reflect what the operating results would have been had the merger been completed on January 1, 2016, nor is it necessarily indicative of future operating results. The pro forma information does not give effect to any cost synergies or other operating efficiencies that could result from the merger. Amounts are in thousands except per share data. Year Ended December 31, 2017 2016 Total revenue $ 1,238,622 $ 1,232,191 Net income $ 179,906 $ 210,311 Basic and diluted net income per common share $ 0.80 $ 0.94 Weighted average common shares outstanding - basic and diluted 223,526 223,343 |
Investment in Real Estate (Tabl
Investment in Real Estate (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Real Estate [Abstract] | |
Property, Plant and Equipment [Table Text Block] | The Company’s investment in real estate consisted of the following (in thousands): December 31, December 31, 2017 2016 Land $ 720,465 $ 707,878 Building and Improvements 4,362,929 4,270,095 Furniture, Fixtures and Equipment 428,734 391,421 Franchise Fees 12,315 11,692 5,524,443 5,381,086 Less Accumulated Depreciation (731,284 ) (557,597 ) Investment in Real Estate, net $ 4,793,159 $ 4,823,489 |
Schedule of Business Acquisitions, by Acquisition [Table Text Block] | During 2017, the Company acquired six hotels. The following table sets forth the location, brand, manager, date acquired, number of rooms and gross purchase price for each hotel acquired during 2017. All dollar amounts are in thousands. City State Brand Manager Date Acquired Rooms Gross Purchase Price (a) Fort Worth TX Courtyard LBA 2/2/2017 124 $ 18,034 Birmingham (b) AL Hilton Garden Inn LBA 9/12/2017 104 19,162 Birmingham (b) AL Home2 Suites LBA 9/12/2017 106 19,276 Portland ME Residence Inn Pyramid 10/13/2017 179 55,750 Salt Lake City UT Residence Inn Huntington 10/20/2017 136 25,500 Anchorage AK Home2 Suites Stonebridge 12/1/2017 135 24,048 784 $ 161,770 (a) The acquisitions of these hotel properties were accounted for as acquisitions of a group of assets, with costs incurred to effect the acquisitions, which were not significant, capitalized as part of the cost of the assets acquired. The gross purchase price excludes capitalized transaction costs. At the date of purchase, the purchase price for each of these properties was funded through the Company’s revolving credit facility. (b) The Hilton Garden Inn and Home2 Suites hotels in Birmingham, AL are part of an adjoining two-hotel complex located on the same site. |
Debt (Tables)
Debt (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Debt Disclosure [Abstract] | |
Schedule of Long-term Debt Instruments [Table Text Block] | As of December 31, 2017 and 2016, the details of the Company’s revolving credit facility and term loans were as set forth below. All dollar amounts are in thousands. As of December 31, 2017 As of December 31, 2016 Maturity Date Outstanding Balance Interest Rate Outstanding Balance Interest Rate Revolving credit facility (1) 5/18/2019 $ 106,900 3.11 % (2) $ 270,000 2.32 % (2) Term loans $425 million term loans 5/18/2020 425,000 3.09 % (3) 425,000 2.90 % (3) $50 million term loan 4/8/2021 50,000 2.54 % (4) 50,000 2.54 % (4) $100 million term loan 4/8/2023 100,000 3.13 % (4) 100,000 3.13 % (4) $85 million term loan 7/25/2024 85,000 3.76 % (4) - n/a Total term loans at stated value 660,000 575,000 Unamortized debt issuance costs (3,721 ) (4,066 ) Total term loans 656,279 570,934 Total revolving credit facility and term loans $ 763,179 $ 840,934 (1) Unamortized debt issuance costs related to the revolving credit facility totaled approximately $1.7 million and $2.8 million as of December 31, 2017 and 2016, respectively, and are included in other assets, net in the Company’s consolidated balance sheets. (2) Annual variable interest rate at the balance sheet date. (3) Effective annual interest rate which includes the effect of interest rate swaps on $322.5 million of the outstanding loan balance, resulting in an annual fixed interest rate of approximately 3.10% on this portion of the debt, subject to adjustment based on the Company’s leverage ratio. See Note 6 for more information on the interest rate swap agreements. Remaining portion is variable rate debt. (4) Annual fixed interest rate at the balance sheet date which includes the effect of interest rate swaps on the outstanding loan balance, subject to adjustment based on the Company’s leverage ratio. See Note 6 for more information on the interest rate swap agreements. |
Schedule of Debt [Table Text Block] | As of December 31, 2017, the Company had approximately $457.4 million in outstanding mortgage debt secured by 29 properties, with maturity dates ranging from June 2020 to January 2038, stated interest rates ranging from 3.55% to 6.25% and effective interest rates ranging from 3.55% to 4.97%. The loans generally provide for monthly payments of principal and interest on an amortized basis and defeasance or prepayment penalties if prepaid. The following table sets forth the hotel properties securing each loan, the interest rate, loan assumption or origination date, maturity date, the principal amount assumed or originated, and the outstanding balance prior to any fair value adjustments or debt issuance costs as of December 31, 2017 and 2016 for each of the Company’s debt obligations. All dollar amounts are in thousands. Location Brand Interest Rate (1) Loan Assumption or Origination Date Maturity Date Principal Assumed or Originated Outstanding balance as of December 31, 2017 Outstanding balance as of December 31, 2016 Irving, TX Homewood Suites 5.83 % 12/29/2010 (2) $ 6,052 $ - $ 5,072 Gainesville, FL Homewood Suites 5.89 % 9/1/2016 (2) 12,051 - 11,966 Duncanville, TX Hilton Garden Inn 5.88 % 10/21/2008 (2) 13,966 - 12,126 Dallas, TX Hilton 3.95 % 5/22/2015 (3) 28,000 - 27,246 San Juan Capistrano, CA Residence Inn 4.15 % 9/1/2016 6/1/2020 16,210 15,774 16,104 Colorado Springs, CO Hampton 6.25 % 9/1/2016 7/6/2021 7,923 7,754 7,883 Franklin, TN Courtyard 6.25 % 9/1/2016 8/6/2021 14,679 14,368 14,604 Franklin, TN Residence Inn 6.25 % 9/1/2016 8/6/2021 14,679 14,368 14,604 Grapevine, TX Hilton Garden Inn 4.89 % 8/29/2012 9/1/2022 11,810 10,412 10,707 Collegeville/Philadelphia, PA Courtyard 4.89 % 8/30/2012 9/1/2022 12,650 11,152 11,468 Hattiesburg, MS Courtyard 5.00 % 3/1/2014 9/1/2022 5,732 5,212 5,357 Rancho Bernardo/San Diego, CA Courtyard 5.00 % 3/1/2014 9/1/2022 15,060 13,692 14,074 Kirkland, WA Courtyard 5.00 % 3/1/2014 9/1/2022 12,145 11,042 11,350 Seattle, WA Residence Inn 4.96 % 3/1/2014 9/1/2022 28,269 25,687 26,409 Anchorage, AK Embassy Suites 4.97 % 9/13/2012 10/1/2022 23,230 20,560 21,133 Somerset, NJ Courtyard 4.73 % 3/1/2014 10/6/2022 8,750 7,932 8,160 Tukwila, WA Homewood Suites 4.73 % 3/1/2014 10/6/2022 9,431 8,549 8,795 Prattville, AL Courtyard 4.12 % 3/1/2014 2/6/2023 6,596 5,943 6,123 Huntsville, AL Homewood Suites 4.12 % 3/1/2014 2/6/2023 8,306 7,483 7,711 San Diego, CA Residence Inn 3.97 % 3/1/2014 3/6/2023 18,600 16,733 17,248 Miami, FL Homewood Suites 4.02 % 3/1/2014 4/1/2023 16,677 15,022 15,479 Syracuse, NY Courtyard 4.75 % 10/16/2015 8/1/2024 (4) 11,199 10,637 10,905 Syracuse, NY Residence Inn 4.75 % 10/16/2015 8/1/2024 (4) 11,199 10,637 10,905 New Orleans, LA Homewood Suites 4.36 % 7/17/2014 8/11/2024 27,000 24,919 25,577 Westford, MA Residence Inn 4.28 % 3/18/2015 4/11/2025 10,000 9,386 9,626 Denver, CO Hilton Garden Inn 4.46 % 9/1/2016 6/11/2025 34,118 33,046 33,857 Oceanside, CA Courtyard 4.28 % 9/1/2016 10/1/2025 13,655 13,332 13,576 Omaha, NE Hilton Garden Inn 4.28 % 9/1/2016 10/1/2025 22,682 22,145 22,550 Boise, ID Hampton 4.37 % 5/26/2016 6/11/2026 24,000 23,422 23,813 Burbank, CA Courtyard 3.55 % 11/3/2016 12/1/2026 25,564 24,917 25,564 San Diego, CA Courtyard 3.55 % 11/3/2016 12/1/2026 25,473 24,828 25,473 San Diego, CA Hampton 3.55 % 11/3/2016 12/1/2026 18,963 18,483 18,963 San Jose, CA Homewood Suites 4.22 % 12/22/2017 1/1/2038 30,000 30,000 - $ 544,669 457,435 494,428 Unamortized fair value adjustment of assumed debt 4,330 5,229 Unamortized debt issuance costs (2,748 ) (2,628 ) Total $ 459,017 $ 497,029 (1) Interest rates are the rates per the loan agreement. For loans assumed, the Company adjusted the interest rates per the loan agreement to market rates and is amortizing the adjustments to interest expense over the life of the loan. (2) Loans were repaid in full during 2017. (3) Assets securing this loan were classified as held for sale as of December 31, 2016. In April 2017, the assets securing this loan were sold, and the loan was assumed by the buyer of those assets. (4) Outstanding principal balance is callable by lender or prepayable by the Company on August 1, 2019. |
Schedule of Maturities of Long-term Debt [Table Text Block] | The aggregate amounts of principal payable under the Company’s total debt obligations (including mortgage debt, the revolving credit facility and term loans), for the five years subsequent to December 31, 2017 and thereafter are as follows (in thousands): 2018 $ 11,964 2019 139,622 2020 452,223 2021 96,415 2022 108,034 Thereafter 416,077 1,224,335 Unamortized fair value adjustment of assumed debt 4,330 Unamortized debt issuance costs related to term loans and mortgage debt (6,469 ) Total $ 1,222,196 |
Fair Value of Financial Instr30
Fair Value of Financial Instruments (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Fair Value Disclosures [Abstract] | |
Schedule of Interest Rate Derivatives [Table Text Block] | The following table sets forth information for each of the Company’s interest rate swap agreements outstanding as of December 31, 2017 and 2016. All dollar amounts are in thousands. Notional Amount at Fair Value Asset (Liability) Hedge Type Origination Date Maturity Date Swap Fixed Interest Rate December 31, 2017 December 31, 2016 Cash flow hedge $ 212,500 5/21/2015 5/18/2020 1.58 % $ 2,033 $ (198 ) Cash flow hedge 110,000 7/2/2015 5/18/2020 1.62 % 951 (246 ) Cash flow hedge 50,000 4/7/2016 3/31/2021 1.09 % 1,544 1,289 Cash flow hedge 100,000 4/7/2016 3/31/2023 1.33 % 4,098 3,744 Cash flow hedge 75,000 5/31/2017 6/30/2024 1.96 % 1,043 - Cash flow hedge 10,000 8/10/2017 6/30/2024 2.01 % 109 - $ 557,500 $ 9,778 $ 4,589 |
Management and Franchise Agre31
Management and Franchise Agreements (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Contractors [Abstract] | |
Schedule of Hotel Properties Managed by Third Parties [Table Text Block] | Each of the Company’s 239 hotels owned as of December 31, 2017 is operated and managed under a separate management agreement with one of the following management companies or one of their affiliates, none of which are affiliated with the Company: Manager Number of Hotels LBAM-Investor Group, LLC (“LBA”) 42 White Lodging Services Corporation (“White Lodging”) 28 Dimension Development Two, LLC (“Dimension”) 24 MHH Management, LLC (“McKibbon”) 18 Texas Western Management Partners, LP (“Western”) 17 Marriott International, Inc. (“Marriott”) 14 Raymond Management Company, Inc. (“Raymond”) 14 Newport Hospitality Group, Inc. (“Newport”) 9 North Central Hospitality, LLC (“North Central”) 9 Vista Host, Inc. (“Vista Host”) 9 Crestline Hotels & Resorts, LLC (“Crestline”) 8 InnVentures IVI, LP (“InnVentures”) 8 True North Hotel Group, Inc. (“True North”) 7 Aimbridge Hospitality, LLC (“Aimbridge”) 6 Chartwell Hospitality, LLC (“Chartwell”) 5 Gateway Hospitality Group, Inc. (“Gateway”) 5 Schulte Hospitality Group, Inc. (“Schulte”) 4 Huntington Hotel Group, LP (“Huntington”) 3 Stonebridge Realty Advisors, Inc. (“Stonebridge”) 3 Hilton Worldwide Holdings Inc. (“Hilton”) 2 New Castle Hotels & Resorts (“New Castle”) 2 Highgate Hotels, L.P. (“Highgate”) 1 Pyramid Advisors Limited Partnership (“Pyramid”) 1 Total 239 |
Lease Commitments (Tables)
Lease Commitments (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Leases [Abstract] | |
Schedule of Future Minimum Rental Payments for Operating Leases [Table Text Block] | The aggregate amounts of the estimated minimum lease payments for the five years subsequent to December 31, 2017 and thereafter, are as follows (in thousands): Total 2018 $ 6,318 2019 6,600 2020 6,772 2021 6,957 2022 7,117 Thereafter 327,808 Total $ 361,572 |
Hotel Contract Commitments (Tab
Hotel Contract Commitments (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Disclosure Text Block Supplement [Abstract] | |
Schedule of Outstanding Contracts for Potential Purchase of Hotels [Table Text Block] | As of December 31, 2017, the Company had outstanding contracts for the potential purchase of four hotels for a total purchase price of $127.8 million. Two of the hotels, the Atlanta Hampton Inn & Suites and the Memphis Hampton Inn & Suites, both of which are already in operation, were acquired in February 2018. The two remaining hotels are under construction and are planned to be completed and opened for business during 2018, at which time closing on these hotels is expected to occur. Although the Company is working towards acquiring the two hotels under construction, there are many conditions to closing that have not yet been satisfied and there can be no assurance that a closing on these hotels will occur under the outstanding purchase contracts. The following table summarizes the location, brand, date of purchase contract, expected number of rooms, refundable (if the seller does not meet its obligations under the contract) contract deposits paid, and gross purchase price for each of the contracts outstanding at December 31, 2017. All dollar amounts are in thousands. Location Brand Date of Purchase Contract Rooms Refundable Deposits Gross Purchase Price Operating Atlanta, GA Hampton 12/22/2017 119 $ (a ) $ (a ) Memphis, TN Hampton 12/22/2017 144 (a ) (a ) Under development (b) Phoenix, AZ Hampton 10/25/2016 210 500 44,100 Orlando, FL Home2 Suites 1/18/2017 128 3 20,736 601 $ 1,503 $ 127,836 (a) These two hotels are included in one purchase contract with a total gross purchase price of $63.0 million and an initial deposit of $1.0 million. These amounts are included in the total gross purchase price and refundable deposits as indicated above. Closing on these hotels occurred in February 2018. (b) As of December 31, 2017, these hotels were under construction. The table shows the expected number of rooms upon hotel completion and the expected franchise brands. Assuming all conditions to closing are met, the purchases of these hotels are expected to occur during 2018. If the seller meets all of the conditions to closing, the Company is obligated to specifically perform under the contract. As the properties are under construction, at this time, the seller has not met all of the conditions to closing. |
Quarterly Financial Data (Una34
Quarterly Financial Data (Unaudited) (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Quarterly Financial Information Disclosure [Abstract] | |
Quarterly Financial Information [Table Text Block] | The following is a summary of quarterly results of operations for the years ended December 31, 2017 and 2016 (in thousands, except per share data): 2017 First Quarter Second Quarter Third Quarter Fourth Quarter Total revenue $ 292,925 $ 331,704 $ 324,926 $ 289,067 Net income (loss) $ 34,365 $ 87,606 $ 62,824 $ (2,303 ) Comprehensive income $ 35,910 $ 86,431 $ 63,083 $ 2,257 Basic and diluted net income (loss) per common share $ 0.15 $ 0.39 $ 0.28 $ (0.01 ) 2016 First Quarter Second Quarter Third Quarter Fourth Quarter Total revenue $ 224,487 $ 257,636 $ 276,471 $ 282,431 Net income $ 34,686 $ 54,718 $ 13,694 $ 41,554 Comprehensive income $ 27,992 $ 49,217 $ 17,955 $ 56,134 Basic and diluted net income per common share $ 0.20 $ 0.31 $ 0.07 $ 0.19 |
Organization and Summary of S35
Organization and Summary of Significant Accounting Policies (Details) $ / shares in Units, $ in Thousands | 12 Months Ended | |||
Dec. 31, 2017USD ($)$ / shares | Dec. 31, 2016USD ($)$ / shares | Dec. 31, 2015USD ($)$ / shares | Dec. 31, 2014 | |
Organization and Summary of Significant Accounting Policies (Details) [Line Items] | ||||
Number of Reportable Segments | 1 | |||
Number of Hotels | 239 | |||
Aggregate Number of Hotel Rooms | 30,322 | |||
Number of States in which Hotels are Located | 34 | |||
Percentage of Revenue Reserved for Replacements | up to 5% | |||
Property, Plant and Equipment, Cost Capitalization | (1) for a single asset, the cost must be at least $500, including all normal and necessary costs to place the asset in service, and the useful life must be at least one year; (2) for group purchases of 10 or more identical assets, the unit cost for each asset must be at least $50, including all normal and necessary costs to place the asset in service, and the useful life must be at least one year; and (3) for major repairs to a single asset, the repair must be at least $2,500 and the useful life of the asset must be substantially extended. | |||
Hotel Property Initial Hold Period | 39 years | |||
Impairment of Real Estate (in Dollars) | $ 45,875 | $ 5,471 | $ 45,000 | |
Common Stock, Dividends, Per Share, Cash Paid (in Dollars per share) | $ / shares | $ 1.27 | |||
Restricted Cash and Cash Equivalents (in Dollars) | 29,791 | 29,425 | ||
ASU 2016-18 Restricted Cash to be included with Cash in Statement of Cash Flows upon adoption of new Accounting Standard as of January 1, 2018 [Member] | ||||
Organization and Summary of Significant Accounting Policies (Details) [Line Items] | ||||
Restricted Cash and Cash Equivalents (in Dollars) | $ 29,800 | $ 29,400 | ||
Federal Income Taxes and Taxability of Shareholder Distributions [Member] | ||||
Organization and Summary of Significant Accounting Policies (Details) [Line Items] | ||||
Common Stock, Dividends, Per Share, Cash Paid (in Dollars per share) | $ / shares | $ 1.20 | $ 1.20 | $ 1.27 | |
Percentage of Distribution Paid Characterized as Ordinary Income | 94.00% | 76.00% | 72.00% | |
Percentage of Distribution Paid Characterized as Return of Capital | 6.00% | 24.00% | 15.00% | |
Percentage of Distribution Paid Characterized as Unrecaptured Gain | 8.00% | |||
Percentage of Distribution Paid Characterized as Long Term Capital Gain | 5.00% | |||
Operating Loss Carryforwards (in Dollars) | $ 95,000 | $ 94,000 | $ 100,000 | |
Operating Loss Carryforwards, Expiration | beginning in 2028 | |||
Open Tax Years | 2014-2017 | |||
Hotels Held for Sale [Member] | ||||
Organization and Summary of Significant Accounting Policies (Details) [Line Items] | ||||
Number of Hotels | 1 | 19 | ||
Real Estate Impairment Charges [Member] | ||||
Organization and Summary of Significant Accounting Policies (Details) [Line Items] | ||||
Number of Properties | 3 | 1 | 1 | |
Impairment of Real Estate (in Dollars) | $ 45,900 | $ 5,500 | $ 45,000 | |
Building [Member] | ||||
Organization and Summary of Significant Accounting Policies (Details) [Line Items] | ||||
Property, Plant and Equipment, Useful Life | 39 years | |||
Franchise Fees [Member] | Minimum [Member] | ||||
Organization and Summary of Significant Accounting Policies (Details) [Line Items] | ||||
Property, Plant and Equipment, Useful Life | 10 years | |||
Franchise Fees [Member] | Maximum [Member] | ||||
Organization and Summary of Significant Accounting Policies (Details) [Line Items] | ||||
Property, Plant and Equipment, Useful Life | 20 years | |||
Major Improvements [Member] | ||||
Organization and Summary of Significant Accounting Policies (Details) [Line Items] | ||||
Property, Plant and Equipment, Useful Life | 10 years | |||
Furniture and Equipment [Member] | Minimum [Member] | ||||
Organization and Summary of Significant Accounting Policies (Details) [Line Items] | ||||
Property, Plant and Equipment, Useful Life | 3 years | |||
Furniture and Equipment [Member] | Maximum [Member] | ||||
Organization and Summary of Significant Accounting Policies (Details) [Line Items] | ||||
Property, Plant and Equipment, Useful Life | 7 years |
Merger with Apple REIT Ten, I36
Merger with Apple REIT Ten, Inc. (Details) $ / shares in Units, $ in Thousands, shares in Millions | Sep. 01, 2016USD ($)$ / sharesshares | May 31, 2017USD ($) | Jan. 31, 2017USD ($) | Dec. 31, 2017USD ($) | Dec. 31, 2016USD ($) | Dec. 31, 2015USD ($) |
Merger with Apple REIT Ten, Inc. (Details) [Line Items] | ||||||
Number of Hotels | 239 | |||||
Number of States in which Entity Operates | 34 | |||||
Aggregate Number of Hotel Rooms | 30,322 | |||||
Business Combination, Consideration Transferred, Equity Interests Issued and Issuable | $ 0 | $ 956,086 | $ 0 | |||
Payments to Acquire Businesses, Gross | 0 | 93,590 | 0 | |||
Transaction and Litigation Costs (Reimbursements) | (2,586) | 34,989 | 7,181 | |||
Noncash or Part Noncash Acquisition, Debt Assumed | 0 | 0 | $ 22,399 | |||
Hotels Acquired from Apple Ten Merger [Member] | ||||||
Merger with Apple REIT Ten, Inc. (Details) [Line Items] | ||||||
Number of Hotels | 56 | |||||
Number of States in which Entity Operates | 17 | |||||
Aggregate Number of Hotel Rooms | 7,209 | |||||
Apple Ten Merger [Member] | ||||||
Merger with Apple REIT Ten, Inc. (Details) [Line Items] | ||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Credit Facility | $ 111,100 | |||||
Payments of Stock Issuance Costs | 1,200 | |||||
Apple Ten Merger [Member] | Aggregate Value of the Merger Consideration Paid to Apple Ten Shareholders [Member] | ||||||
Merger with Apple REIT Ten, Inc. (Details) [Line Items] | ||||||
Business Combination, Consideration Transferred | 1,000,000 | |||||
Business Combination, Consideration Transferred, Equity Interests Issued and Issuable | $ 956,100 | |||||
Business Acquisition, Equity Interest Issued or Issuable, Number of Shares (in Shares) | shares | 48.7 | |||||
Business Acquisition, Share Price (in Dollars per share) | $ / shares | $ 19.62 | |||||
Payments to Acquire Businesses, Gross | $ 93,600 | |||||
Apple Ten Merger [Member] | Merger Costs (Reimbursements) [Member] | ||||||
Merger with Apple REIT Ten, Inc. (Details) [Line Items] | ||||||
Transaction and Litigation Costs (Reimbursements) | (2,600) | 29,200 | ||||
Apple Ten Merger [Member] | Assumed Mortgage Debt [Member] | ||||||
Merger with Apple REIT Ten, Inc. (Details) [Line Items] | ||||||
Noncash or Part Noncash Acquisition, Debt Assumed | $ 145,700 | |||||
Number of Hotel Properties Used to Secure Debt | 9 | |||||
Apple Ten Merger [Member] | Assumed Credit Facility Terminated and Repaid [Member] | ||||||
Merger with Apple REIT Ten, Inc. (Details) [Line Items] | ||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Credit Facility | $ 111,100 | |||||
Costs Incurred to Defend and Settlement of the Apple Ten Merger Litigation Net of Reimbursements from D&O Insurance Carriers [Member] | ||||||
Merger with Apple REIT Ten, Inc. (Details) [Line Items] | ||||||
Transaction and Litigation Costs (Reimbursements) | 25,100 | |||||
Costs Incurred to Defend and Settlement of the Apple Ten Merger Litigation Net of Reimbursements from D&O Insurance Carriers [Member] | Settlement of the Apple Ten Merger Litigation Paid by the Company [Member] | ||||||
Merger with Apple REIT Ten, Inc. (Details) [Line Items] | ||||||
Transaction and Litigation Costs (Reimbursements) | 32,000 | |||||
Payments for Legal Settlements | $ 32,000 | |||||
Costs Incurred to Defend and Settlement of the Apple Ten Merger Litigation Net of Reimbursements from D&O Insurance Carriers [Member] | Costs Incurred to Defend the Apple Ten Merger Litigation [Member] | ||||||
Merger with Apple REIT Ten, Inc. (Details) [Line Items] | ||||||
Transaction and Litigation Costs (Reimbursements) | 3,100 | |||||
Costs Incurred to Defend and Settlement of the Apple Ten Merger Litigation Net of Reimbursements from D&O Insurance Carriers [Member] | Reimbursements Received From D&O Insurance Carriers [Member] | ||||||
Merger with Apple REIT Ten, Inc. (Details) [Line Items] | ||||||
Transaction and Litigation Costs (Reimbursements) | $ (2,600) | $ (10,000) | ||||
Proceeds from Insurance Settlement, Operating Activities | $ 2,600 | $ 10,000 |
Merger with Apple REIT Ten, I37
Merger with Apple REIT Ten, Inc. (Details) - Schedule of Business Acquisition Purchase Price Allocation - Apple Ten Merger [Member] $ in Thousands | Sep. 01, 2016USD ($) |
Merger with Apple REIT Ten, Inc. (Details) - Schedule of Business Acquisition Purchase Price Allocation [Line Items] | |
Land | $ 150,780 |
Building and improvements | 1,066,379 |
Furniture, fixtures and equipment | 75,345 |
Franchise fees | 2,917 |
Investment in real estate | 1,295,421 |
Restricted cash, due from third party managers and other assets | 33,579 |
Total assets | 1,329,000 |
Credit facility | 111,100 |
Mortgage debt | 151,885 |
Accounts payable and other liabilities | 16,339 |
Total liabilities | 279,324 |
Fair value estimate of net assets acquired (total consideration paid) | $ 1,049,676 |
Merger with Apple REIT Ten, I38
Merger with Apple REIT Ten, Inc. (Details) - Business Acquisition, Pro Forma Information - Apple Ten Merger [Member] - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands | 12 Months Ended | |
Dec. 31, 2017 | Dec. 31, 2016 | |
Merger with Apple REIT Ten, Inc. (Details) - Business Acquisition, Pro Forma Information [Line Items] | ||
Total revenue | $ 1,238,622 | $ 1,232,191 |
Net income | $ 179,906 | $ 210,311 |
Basic and diluted net income per common share (in Dollars per share) | $ 0.80 | $ 0.94 |
Weighted average common shares outstanding - basic and diluted (in Shares) | 223,526 | 223,343 |
Investment in Real Estate (Deta
Investment in Real Estate (Details) $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||
Dec. 31, 2017USD ($) | Jun. 30, 2017USD ($) | Mar. 31, 2017USD ($) | Sep. 30, 2016USD ($) | Dec. 31, 2015USD ($) | Dec. 31, 2017USD ($) | Dec. 31, 2016USD ($) | Dec. 31, 2015USD ($) | Sep. 01, 2016USD ($) | |
Investment in Real Estate (Details) [Line Items] | |||||||||
Number of Hotels | 239 | 239 | |||||||
Aggregate Number of Hotel Rooms | 30,322 | 30,322 | |||||||
Number of States in which Hotels Are Located | 34 | 34 | |||||||
Revenues | $ 1,238,622 | $ 1,041,025 | $ 898,314 | ||||||
Operating Income (Loss) | 214,387 | 185,262 | 136,032 | ||||||
Impairment of Real Estate | $ 45,875 | $ 5,471 | 45,000 | ||||||
Renaissance New York, NY [Member] | |||||||||
Investment in Real Estate (Details) [Line Items] | |||||||||
Aggregate Number of Hotel Rooms | 205 | 205 | |||||||
Hilton Dallas, TX and Marriott Chesapeake, VA [Member] | Hotels Identified for Potential Sale 3Q 2016 [Member] | |||||||||
Investment in Real Estate (Details) [Line Items] | |||||||||
Number of Hotels | 2 | 2 | |||||||
Marriott Chesapeake, VA [Member] | Hotels Identified for Potential Sale 3Q 2016 [Member] | |||||||||
Investment in Real Estate (Details) [Line Items] | |||||||||
Impairment of Real Estate | $ 5,500 | $ 5,500 | |||||||
Real Estate Held and Used Impairment [Member] | Renaissance New York, NY [Member] | |||||||||
Investment in Real Estate (Details) [Line Items] | |||||||||
Impairment of Real Estate | $ 38,000 | $ 45,000 | |||||||
Real Estate Investment, Carrying Value Prior to Impairment | 40,000 | 86,000 | $ 40,000 | 86,000 | |||||
Real Estate Investment Property, Estimated Fair Market Value | $ 2,000 | $ 41,000 | $ 2,000 | $ 41,000 | |||||
Fair Value Inputs, Cap Rate | 7.00% | ||||||||
Real Estate Held and Used Impairment [Member] | Renaissance New York, NY [Member] | Minimum [Member] | |||||||||
Investment in Real Estate (Details) [Line Items] | |||||||||
Fair Value Inputs, Long-term Revenue Growth Rate | 0.00% | 1.00% | |||||||
Fair Value Inputs, Discount Rate | 8.50% | 8.50% | |||||||
Real Estate Held and Used Impairment [Member] | Renaissance New York, NY [Member] | Maximum [Member] | |||||||||
Investment in Real Estate (Details) [Line Items] | |||||||||
Fair Value Inputs, Long-term Revenue Growth Rate | 4.50% | 4.00% | |||||||
Fair Value Inputs, Discount Rate | 10.00% | 9.50% | |||||||
Execution of Sales Contracts in April 2017 Terminated in May 2017 [Member] | SpringHill Suites and TownePlace Suites Columbus, GA [Member] | Hotels Identified for Potential Sale 1Q 2017 [Member] | |||||||||
Investment in Real Estate (Details) [Line Items] | |||||||||
Number of Hotels | 2 | ||||||||
Impairment of Real Estate | $ 7,900 | ||||||||
Purchase and Sale Agreement, Gross Sales Price | $ 10,000 | ||||||||
Hotel Acquisitions [Member] | |||||||||
Investment in Real Estate (Details) [Line Items] | |||||||||
Number of Hotels | 6 | 57 | |||||||
Revenues | $ 8,900 | $ 90,200 | |||||||
Operating Income (Loss) | $ 1,400 | $ 19,500 | |||||||
Hotel Acquisitions [Member] | Home2 Suites Atlanta, GA [Member] | |||||||||
Investment in Real Estate (Details) [Line Items] | |||||||||
Aggregate Number of Hotel Rooms | 128 | ||||||||
Business Acquisition, Effective Date of Acquisition | Jul. 1, 2016 | ||||||||
Business Combination, Consideration Transferred | $ 24,600 | ||||||||
Goodwill | $ 0 | ||||||||
Hotels Acquired from Apple Ten Merger [Member] | |||||||||
Investment in Real Estate (Details) [Line Items] | |||||||||
Number of Hotels | 56 | ||||||||
Aggregate Number of Hotel Rooms | 7,209 | ||||||||
Number of States in which Hotels Are Located | 17 | ||||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Investment in Real Estate | $ 1,300,000 | ||||||||
Goodwill | $ 0 |
Investment in Real Estate (De40
Investment in Real Estate (Details) - Investment in Real Estate - USD ($) $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 |
Investment in Real Estate [Abstract] | ||
Land | $ 720,465 | $ 707,878 |
Building and Improvements | 4,362,929 | 4,270,095 |
Furniture, Fixtures and Equipment | 428,734 | 391,421 |
Franchise Fees | 12,315 | 11,692 |
5,524,443 | 5,381,086 | |
Less Accumulated Depreciation | (731,284) | (557,597) |
Investment in Real Estate, net | $ 4,793,159 | $ 4,823,489 |
Investment in Real Estate (De41
Investment in Real Estate (Details) - Hotel Acquisitions $ in Thousands | 12 Months Ended | |
Dec. 31, 2017USD ($) | ||
Business Acquisition [Line Items] | ||
Rooms | 30,322 | |
Courtyard Fort Worth, TX [Member] | ||
Business Acquisition [Line Items] | ||
State | TX | |
Brand | Courtyard | |
Manager | LBA | |
Date Acquired | Feb. 2, 2017 | |
Rooms | 124 | |
Gross Purchase Price | $ 18,034 | [1] |
Hilton Garden Inn Birmingham, AL [Member] | ||
Business Acquisition [Line Items] | ||
State | AL | |
Brand | Hilton Garden Inn | [2] |
Manager | LBA | |
Date Acquired | Sep. 12, 2017 | |
Rooms | 104 | |
Gross Purchase Price | $ 19,162 | [1] |
Home2 Suites Birmingham, AL [Member] | ||
Business Acquisition [Line Items] | ||
State | AL | |
Brand | Home2 Suites | [2] |
Manager | LBA | |
Date Acquired | Sep. 12, 2017 | |
Rooms | 106 | |
Gross Purchase Price | $ 19,276 | [1] |
Residence Inn Portland, ME [Member] | ||
Business Acquisition [Line Items] | ||
State | ME | |
Brand | Residence Inn | |
Manager | Pyramid | |
Date Acquired | Oct. 13, 2017 | |
Rooms | 179 | |
Gross Purchase Price | $ 55,750 | [1] |
Residence Inn Salt Lake City, UT [Member] | ||
Business Acquisition [Line Items] | ||
State | UT | |
Brand | Residence Inn | |
Manager | Huntington | |
Date Acquired | Oct. 20, 2017 | |
Rooms | 136 | |
Gross Purchase Price | $ 25,500 | [1] |
Home2 Suites Anchorage, AK [Member] | ||
Business Acquisition [Line Items] | ||
State | AK | |
Brand | Home2 Suites | |
Manager | Stonebridge | |
Date Acquired | Dec. 1, 2017 | |
Rooms | 135 | |
Gross Purchase Price | $ 24,048 | [1] |
Total [Member] | ||
Business Acquisition [Line Items] | ||
Rooms | 784 | |
Gross Purchase Price | $ 161,770 | [1] |
[1] | The acquisitions of these hotel properties were accounted for as acquisitions of a group of assets, with costs incurred to effect the acquisitions, which were not significant, capitalized as part of the cost of the assets acquired. The gross purchase price excludes capitalized transaction costs. At the date of purchase, the purchase price for each of these properties was funded through the Company's revolving credit facility. | |
[2] | The Hilton Garden Inn and Home2 Suites hotels in Birmingham, AL are part of an adjoining two-hotel complex located on the same site. |
Dispositions (Details)
Dispositions (Details) $ in Thousands | 12 Months Ended | 36 Months Ended | ||
Dec. 31, 2017USD ($) | Dec. 31, 2016USD ($) | Dec. 31, 2015USD ($) | Dec. 31, 2017USD ($) | |
Dispositions (Details) [Line Items] | ||||
Aggregate Number of Hotel Rooms | 30,322 | 30,322 | ||
Gain (Loss) on Disposition of Assets | $ 16,295 | $ (153) | $ 15,286 | |
Real Estate Held-for-sale | 0 | 39,000 | $ 0 | |
Long-term Debt, Gross | 1,224,335 | $ 1,224,335 | ||
Impairment of Real Estate | 45,875 | 5,471 | 45,000 | |
Operating Income (Loss) | $ 214,387 | $ 185,262 | 136,032 | |
Hotels Sold [Member] | ||||
Dispositions (Details) [Line Items] | ||||
Sale of Real Estate Assets, Gross Sales Price | 208,500 | |||
Gain (Loss) on Disposition of Assets | $ 15,300 | |||
Number of Hotels | 19 | |||
Number of Real Estate Transactions | 2 | |||
Hotels Sold [Member] | Marriott Fairfax, VA [Member] | ||||
Dispositions (Details) [Line Items] | ||||
Aggregate Number of Hotel Rooms | 316 | 316 | ||
Sale of Real Estate Assets, Gross Sales Price | $ 41,500 | |||
Gain (Loss) on Disposition of Assets | 300 | |||
Real Estate Held-for-sale | 40,600 | $ 40,600 | ||
Hotels Sold [Member] | Marriott Chesapeake, VA [Member] | ||||
Dispositions (Details) [Line Items] | ||||
Aggregate Number of Hotel Rooms | 226 | |||
Sale of Real Estate Assets, Gross Sales Price | $ 9,900 | |||
Gain (Loss) on Disposition of Assets | (200) | |||
Impairment of Real Estate | 5,500 | |||
Hotels Sold During the Three Years Ended December 31, 2017 [Member] | ||||
Dispositions (Details) [Line Items] | ||||
Number of Hotels | 22 | |||
Operating Income (Loss) | $ 2,400 | $ (1,400) | $ 4,700 | |
Hilton Dallas, TX [Member] | Hotels Sold [Member] | ||||
Dispositions (Details) [Line Items] | ||||
Aggregate Number of Hotel Rooms | 224 | 224 | 224 | |
Sale of Real Estate Assets, Gross Sales Price | $ 56,100 | |||
Gain (Loss) on Disposition of Assets | 16,000 | |||
Real Estate Held-for-sale | 39,000 | $ 39,000 | $ 39,000 | |
Long-term Debt, Gross | $ 27,100 | $ 27,100 |
Debt (Details)
Debt (Details) $ in Thousands | Sep. 01, 2016USD ($) | Dec. 31, 2017USD ($) | Dec. 31, 2016USD ($) | Dec. 31, 2015USD ($) |
Debt (Details) [Line Items] | ||||
Derivative, Notional Amount | $ 557,500 | |||
Proceeds from Issuance of Unsecured Debt | 85,000 | $ 150,000 | $ 425,000 | |
Debt Issuance Costs, Net | 6,469 | |||
Long-term Debt, Gross | 1,224,335 | |||
Noncash or Part Noncash Acquisition, Debt Assumed | 0 | 0 | 22,399 | |
Amortization of Debt Discount (Premium) | (900) | (2,300) | (3,200) | |
Amortization of Debt Issuance Costs | 2,800 | 2,900 | 2,400 | |
Interest Costs Capitalized | $ 1,300 | 1,600 | $ 1,500 | |
Mortgage Debt [Member] | ||||
Debt (Details) [Line Items] | ||||
Debt Instrument, Maturity Date, Description | maturity dates ranging from June 2020 to January 2038 | |||
Long-term Debt, Gross | $ 457,400 | |||
Number of Hotel Properties Used to Secure Debt | 29 | |||
Minimum [Member] | Mortgage Debt [Member] | ||||
Debt (Details) [Line Items] | ||||
Debt Instrument, Interest Rate, Effective Percentage | 3.55% | |||
Debt Instrument, Interest Rate, Stated Percentage | 3.55% | |||
Maximum [Member] | Mortgage Debt [Member] | ||||
Debt (Details) [Line Items] | ||||
Debt Instrument, Interest Rate, Effective Percentage | 4.97% | |||
Debt Instrument, Interest Rate, Stated Percentage | 6.25% | |||
$150 Million Unsecured Term Loan Facility [Member] | ||||
Debt (Details) [Line Items] | ||||
Term Loan Facility, Maximum Borrowing Capacity | $ 150,000 | |||
Debt Instrument, Description | The Company initially borrowed $50 million under the $150 million term loan facility on April 8, 2016 and borrowed the remaining $100 million on September 30, 2016. | |||
Debt Instrument, Description of Variable Rate Basis | one-month LIBOR | |||
$150 Million Unsecured Term Loan Facility [Member] | $50 Million Term Loan [Member] | ||||
Debt (Details) [Line Items] | ||||
Debt Instrument, Maturity Date | Apr. 8, 2021 | |||
Debt Instrument, Face Amount | $ 50,000 | |||
$150 Million Unsecured Term Loan Facility [Member] | $100 Million Term Loan [Member] | ||||
Debt (Details) [Line Items] | ||||
Debt Instrument, Maturity Date | Apr. 8, 2023 | |||
Debt Instrument, Face Amount | $ 100,000 | |||
$150 Million Unsecured Term Loan Facility [Member] | Amount Borrowed on April 8, 2016 [Member] | ||||
Debt (Details) [Line Items] | ||||
Proceeds from Issuance of Unsecured Debt | 50,000 | |||
$150 Million Unsecured Term Loan Facility [Member] | Amount Borrowed on September 30, 2016 [Member] | ||||
Debt (Details) [Line Items] | ||||
Proceeds from Issuance of Unsecured Debt | 100,000 | |||
$150 Million Unsecured Term Loan Facility [Member] | Minimum [Member] | $50 Million Term Loan [Member] | London Interbank Offered Rate (LIBOR) [Member] | ||||
Debt (Details) [Line Items] | ||||
Debt Instrument, Basis Spread on Variable Rate | 1.45% | |||
$150 Million Unsecured Term Loan Facility [Member] | Minimum [Member] | $100 Million Term Loan [Member] | London Interbank Offered Rate (LIBOR) [Member] | ||||
Debt (Details) [Line Items] | ||||
Debt Instrument, Basis Spread on Variable Rate | 1.80% | |||
$150 Million Unsecured Term Loan Facility [Member] | Maximum [Member] | $50 Million Term Loan [Member] | London Interbank Offered Rate (LIBOR) [Member] | ||||
Debt (Details) [Line Items] | ||||
Debt Instrument, Basis Spread on Variable Rate | 2.20% | |||
$150 Million Unsecured Term Loan Facility [Member] | Maximum [Member] | $100 Million Term Loan [Member] | London Interbank Offered Rate (LIBOR) [Member] | ||||
Debt (Details) [Line Items] | ||||
Debt Instrument, Basis Spread on Variable Rate | 2.60% | |||
$150 Million Unsecured Term Loan Facility [Member] | Loans with Interest Rates Effectively Fixed by Interest Rate Swaps Effective September 30, 2016 [Member] | ||||
Debt (Details) [Line Items] | ||||
Number of Interest Rate Derivatives Held | 2 | |||
$150 Million Unsecured Term Loan Facility [Member] | Loans with Interest Rates Effectively Fixed by Interest Rate Swaps Effective September 30, 2016 [Member] | $50 Million Term Loan [Member] | ||||
Debt (Details) [Line Items] | ||||
Derivative, Notional Amount | $ 50,000 | |||
Debt Instrument, Interest Rate, Effective Percentage | 2.54% | |||
$150 Million Unsecured Term Loan Facility [Member] | Loans with Interest Rates Effectively Fixed by Interest Rate Swaps Effective September 30, 2016 [Member] | $100 Million Term Loan [Member] | ||||
Debt (Details) [Line Items] | ||||
Derivative, Notional Amount | $ 100,000 | |||
Debt Instrument, Interest Rate, Effective Percentage | 3.13% | |||
$85 Million Unsecured Term Loan [Member] | ||||
Debt (Details) [Line Items] | ||||
Debt Instrument, Maturity Date | Jul. 25, 2024 | |||
Debt Instrument, Description of Variable Rate Basis | one-month LIBOR | |||
Debt Instrument, Face Amount | $ 85,000 | |||
$85 Million Unsecured Term Loan [Member] | Minimum [Member] | London Interbank Offered Rate (LIBOR) [Member] | ||||
Debt (Details) [Line Items] | ||||
Debt Instrument, Basis Spread on Variable Rate | 1.80% | |||
$85 Million Unsecured Term Loan [Member] | Maximum [Member] | London Interbank Offered Rate (LIBOR) [Member] | ||||
Debt (Details) [Line Items] | ||||
Debt Instrument, Basis Spread on Variable Rate | 2.60% | |||
$85 Million Unsecured Term Loan [Member] | Loans with Interest Rates Effectively Fixed by Interest Rate Swaps Effective July 31, 2017 [Member] | ||||
Debt (Details) [Line Items] | ||||
Derivative, Notional Amount | $ 75,000 | |||
$85 Million Unsecured Term Loan [Member] | Loans with Interest Rates Effectively Fixed by Interest Rate Swaps Effective August 10, 2017 [Member] | ||||
Debt (Details) [Line Items] | ||||
Derivative, Notional Amount | $ 10,000 | |||
$965 Million Unsecured Credit Facility [Member] | ||||
Debt (Details) [Line Items] | ||||
Date of Amended and Restated Credit Facility | May 18, 2015 | |||
Credit Facility, Amended and Restated Description | the Company amended and restated its $345 million credit facility with a syndicate of commercial banks, increasing the borrowing capacity to $965 million, reducing the annual interest rate and extending the maturity dates | |||
Line of Credit Facility, Maximum Borrowing Capacity, Prior to Amendment and Restatement | $ 345,000 | |||
Line of Credit Facility, Maximum Borrowing Capacity | $ 965,000 | |||
$965 Million Unsecured Credit Facility [Member] | London Interbank Offered Rate (LIBOR) [Member] | ||||
Debt (Details) [Line Items] | ||||
Debt Instrument, Description of Variable Rate Basis | one-month LIBOR | |||
$965 Million Unsecured Credit Facility [Member] | $540 Million Unsecured Revolving Credit Facility [Member] | ||||
Debt (Details) [Line Items] | ||||
Line of Credit Facility, Maximum Borrowing Capacity | $ 540,000 | |||
Line of Credit Facility, Expiration Date | May 18, 2019 | |||
Debt Instrument, Maturity Date, Description | maturity date may be extended one year | |||
Debt Issuance Costs, Net | $ 1,700 | $ 2,800 | ||
$965 Million Unsecured Credit Facility [Member] | $425 Million Term Loans [Member] | ||||
Debt (Details) [Line Items] | ||||
Term Loan Facility, Maximum Borrowing Capacity | $ 425,000 | |||
Debt Instrument, Maturity Date | May 18, 2020 | |||
Debt Instrument, Description | consisting of three term loans, all funded during 2015 | |||
Number of Term Loans | 3 | |||
$965 Million Unsecured Credit Facility [Member] | Minimum [Member] | London Interbank Offered Rate (LIBOR) [Member] | ||||
Debt (Details) [Line Items] | ||||
Debt Instrument, Basis Spread on Variable Rate | 1.50% | |||
$965 Million Unsecured Credit Facility [Member] | Minimum [Member] | $540 Million Unsecured Revolving Credit Facility [Member] | ||||
Debt (Details) [Line Items] | ||||
Line of Credit Facility, Unused Capacity, Commitment Fee Percentage | 0.20% | |||
$965 Million Unsecured Credit Facility [Member] | Maximum [Member] | London Interbank Offered Rate (LIBOR) [Member] | ||||
Debt (Details) [Line Items] | ||||
Debt Instrument, Basis Spread on Variable Rate | 2.30% | |||
$965 Million Unsecured Credit Facility [Member] | Maximum [Member] | $540 Million Unsecured Revolving Credit Facility [Member] | ||||
Debt (Details) [Line Items] | ||||
Line of Credit Facility, Unused Capacity, Commitment Fee Percentage | 0.30% | |||
$965 Million Unsecured Credit Facility [Member] | Loans With Interest Rates Effectively Fixed By Interest Rate Swaps [Member] | $425 Million Term Loans [Member] | ||||
Debt (Details) [Line Items] | ||||
Number of Interest Rate Derivatives Held | 2 | |||
Derivative, Notional Amount | $ 322,500 | |||
Debt Instrument, Interest Rate, Effective Percentage | 3.10% | |||
$85 Million Unsecured Term Loan [Member] | Amount Borrowed on July 25, 2017 [Member] | ||||
Debt (Details) [Line Items] | ||||
Proceeds from Issuance of Unsecured Debt | $ 85,000 | |||
$85 Million Unsecured Term Loan [Member] | Loans With Interest Rates Effectively Fixed By Interest Rate Swaps [Member] | ||||
Debt (Details) [Line Items] | ||||
Number of Interest Rate Derivatives Held | 2 | |||
Derivative, Notional Amount | $ 85,000 | |||
Debt Instrument, Interest Rate, Effective Percentage | 3.76% | |||
Revolving Credit Facility and Term Loans [Member] | ||||
Debt (Details) [Line Items] | ||||
Line of Credit Facility, Covenant Terms | the $965 million credit facility, the $150 million term loan facility and the $85 million term loan contain mandatory prepayment requirements, customary affirmative covenants, negative covenants and events of default.  The credit agreements require that the Company comply with various covenants, which include, among others, a minimum tangible net worth, maximum debt limits, minimum interest and fixed charge coverage ratios, limits on dividend payments and share repurchases and restrictions on certain investments.  The credit agreements contain the following financial and restrictive covenants (capitalized terms are defined in the credit agreements).·A ratio of Consolidated Total Indebtedness to Consolidated EBITDA of not more than 6.00 to 1.00 (subject to a higher amount in certain circumstances);·A ratio of Consolidated Secured Indebtedness to Consolidated Total Assets of not more than 45%;·A minimum Consolidated Tangible Net Worth of approximately $2.3 billion (plus an amount equal to 75% of the Net Cash Proceeds from issuances and sales of Equity Interests occurring after the Closing Date, subject to adjustment, less the lesser of (a) an amount equal to 75% of Restricted Payments for the tender, redemption and/or other purchases of its common shares made by the Company after the Closing Date and (b) $375 million);·A ratio of Adjusted Consolidated EBITDA to Consolidated Fixed Charges of not less than 1.50 to 1.00 for the trailing four full quarters;·A ratio of Unencumbered Adjusted NOI to Consolidated Implied Interest Expense for Consolidated Unsecured Indebtedness of not less than 2.00 to 1.00 for the trailing four full quarters;·A ratio of Consolidated Unsecured Indebtedness to Unencumbered Asset Value of not more than 60% (subject to a higher level in certain circumstances);·A ratio of Consolidated Secured Recourse Indebtedness to Consolidated Total Assets of not more than 10%; and·Restricted Payments (including distributions and share repurchases), net of any proceeds from a dividend reinvestment plan and excluding Restricted Payments for the tender, redemption and/or other purchases of its common shares in an amount not to exceed $700 million in the aggregate, cannot exceed 95% of Funds From Operations for each fiscal year, unless the Company is required to distribute more to meet REIT requirements.The Company was in compliance with the applicable covenants at December 31, 2017. | |||
Apple Ten Merger [Member] | Assumed Mortgage Debt [Member] | ||||
Debt (Details) [Line Items] | ||||
Debt Instrument, Maturity Date, Description | maturity dates ranging from February 2017 to October 2025 | |||
Number of Hotel Properties Used to Secure Debt | 9 | |||
Noncash or Part Noncash Acquisition, Debt Assumed | $ 145,700 | |||
Liabilities, Fair Value Adjustment | $ 6,200 | |||
Apple Ten Merger [Member] | Minimum [Member] | Assumed Mortgage Debt [Member] | ||||
Debt (Details) [Line Items] | ||||
Debt Instrument, Interest Rate, Effective Percentage | 3.80% | |||
Debt Instrument, Interest Rate, Stated Percentage | 4.15% | |||
Apple Ten Merger [Member] | Maximum [Member] | Assumed Mortgage Debt [Member] | ||||
Debt (Details) [Line Items] | ||||
Debt Instrument, Interest Rate, Effective Percentage | 4.23% | |||
Debt Instrument, Interest Rate, Stated Percentage | 6.25% |
Debt (Details) - Revolving Cred
Debt (Details) - Revolving Credit Facility and Term Loans - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | ||
Debt Instrument [Line Items] | |||
Revolving credit facility outstanding balance (in Dollars) | $ 106,900 | $ 270,000 | |
Outstanding balance (in Dollars) | 1,224,335 | ||
Unamortized debt issuance costs (in Dollars) | (6,469) | ||
Total term loans (in Dollars) | 656,279 | 570,934 | |
Debt carrying value (in Dollars) | $ 1,222,196 | 1,300,000 | |
Revolving Credit Facility [Member] | |||
Debt Instrument [Line Items] | |||
Maturity date | May 18, 2019 | ||
Revolving credit facility outstanding balance (in Dollars) | [1] | $ 106,900 | $ 270,000 |
Interest rate | [2] | 3.11% | 2.32% |
$425 Million Term Loans [Member] | |||
Debt Instrument [Line Items] | |||
Maturity date | May 18, 2020 | ||
Interest rate | [3] | 3.09% | 2.90% |
Outstanding balance (in Dollars) | $ 425,000 | $ 425,000 | |
$50 Million Term Loan [Member] | |||
Debt Instrument [Line Items] | |||
Maturity date | Apr. 8, 2021 | ||
Interest rate | [4] | 2.54% | 2.54% |
Outstanding balance (in Dollars) | $ 50,000 | $ 50,000 | |
$100 Million Term Loan [Member] | |||
Debt Instrument [Line Items] | |||
Maturity date | Apr. 8, 2023 | ||
Interest rate | [4] | 3.13% | 3.13% |
Outstanding balance (in Dollars) | $ 100,000 | $ 100,000 | |
$85 Million Term Loan [Member] | |||
Debt Instrument [Line Items] | |||
Maturity date | Jul. 25, 2024 | ||
Interest rate | [4] | 3.76% | |
Outstanding balance (in Dollars) | $ 85,000 | $ 0 | |
Total Term Loans [Member] | |||
Debt Instrument [Line Items] | |||
Outstanding balance (in Dollars) | 660,000 | 575,000 | |
Unamortized debt issuance costs (in Dollars) | (3,721) | (4,066) | |
Total term loans (in Dollars) | 656,279 | 570,934 | |
Total Revolving Credit Facility and Term Loans [Member] | |||
Debt Instrument [Line Items] | |||
Debt carrying value (in Dollars) | $ 763,179 | $ 840,934 | |
[1] | Unamortized debt issuance costs related to the revolving credit facility totaled approximately $1.7 million and $2.8 million as of December 31, 2017 and 2016, respectively, and are included in other assets, net in the Company's consolidated balance sheets. | ||
[2] | Annual variable interest rate at the balance sheet date. | ||
[3] | Effective annual interest rate which includes the effect of interest rate swaps on $322.5 million of the outstanding loan balance, resulting in an annual fixed interest rate of approximately 3.10% on this portion of the debt, subject to adjustment based on the Company's leverage ratio. See Note 6 for more information on the interest rate swap agreements. Remaining portion is variable rate debt. | ||
[4] | Annual fixed interest rate at the balance sheet date which includes the effect of interest rate swaps on the outstanding loan balance, subject to adjustment based on the Company's leverage ratio. See Note 6 for more information on the interest rate swap agreements. |
Debt (Details) - Mortgage Note
Debt (Details) - Mortgage Note Debt - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | ||
Debt (Details) - Mortgage Note Debt [Line Items] | |||
Outstanding Balance | $ 1,224,335 | ||
Unamortized fair value adjustment of assumed debt | 4,330 | ||
Unamortized debt issuance costs | (6,469) | ||
Total | $ 459,017 | $ 497,029 | |
Homewood Suites Irving, TX [Member] | |||
Debt (Details) - Mortgage Note Debt [Line Items] | |||
Brand | Homewood Suites | ||
Interest Rate | [1] | 5.83% | |
Loan Assumption or Origination Date | Dec. 29, 2010 | ||
Maturity Date | [2] | ||
Principal Assumed or Originated | $ 6,052 | ||
Outstanding Balance | $ 0 | 5,072 | |
Homewood Suites Gainesville, FL [Member] | |||
Debt (Details) - Mortgage Note Debt [Line Items] | |||
Brand | Homewood Suites | ||
Interest Rate | [1] | 5.89% | |
Loan Assumption or Origination Date | Sep. 1, 2016 | ||
Maturity Date | [2] | ||
Principal Assumed or Originated | $ 12,051 | ||
Outstanding Balance | $ 0 | 11,966 | |
Hilton Garden Inn Duncanville, TX [Member] | |||
Debt (Details) - Mortgage Note Debt [Line Items] | |||
Brand | Hilton Garden Inn | ||
Interest Rate | [1] | 5.88% | |
Loan Assumption or Origination Date | Oct. 21, 2008 | ||
Maturity Date | [2] | ||
Principal Assumed or Originated | $ 13,966 | ||
Outstanding Balance | $ 0 | 12,126 | |
Hilton Dallas, TX [Member] | |||
Debt (Details) - Mortgage Note Debt [Line Items] | |||
Brand | Hilton | ||
Interest Rate | [1] | 3.95% | |
Loan Assumption or Origination Date | May 22, 2015 | ||
Maturity Date | [3] | ||
Principal Assumed or Originated | $ 28,000 | ||
Outstanding Balance | $ 0 | 27,246 | |
Residence Inn San Juan Capistrano, CA [Member] | |||
Debt (Details) - Mortgage Note Debt [Line Items] | |||
Brand | Residence Inn | ||
Interest Rate | [1] | 4.15% | |
Loan Assumption or Origination Date | Sep. 1, 2016 | ||
Maturity Date | Jun. 1, 2020 | ||
Principal Assumed or Originated | $ 16,210 | ||
Outstanding Balance | $ 15,774 | 16,104 | |
Hampton Colorado Springs, CO [Member] | |||
Debt (Details) - Mortgage Note Debt [Line Items] | |||
Brand | Hampton | ||
Interest Rate | [1] | 6.25% | |
Loan Assumption or Origination Date | Sep. 1, 2016 | ||
Maturity Date | Jul. 6, 2021 | ||
Principal Assumed or Originated | $ 7,923 | ||
Outstanding Balance | $ 7,754 | 7,883 | |
Courtyard Franklin, TN [Member] | |||
Debt (Details) - Mortgage Note Debt [Line Items] | |||
Brand | Courtyard | ||
Interest Rate | [1] | 6.25% | |
Loan Assumption or Origination Date | Sep. 1, 2016 | ||
Maturity Date | Aug. 6, 2021 | ||
Principal Assumed or Originated | $ 14,679 | ||
Outstanding Balance | $ 14,368 | 14,604 | |
Residence Inn Franklin, TN [Member] | |||
Debt (Details) - Mortgage Note Debt [Line Items] | |||
Brand | Residence Inn | ||
Interest Rate | [1] | 6.25% | |
Loan Assumption or Origination Date | Sep. 1, 2016 | ||
Maturity Date | Aug. 6, 2021 | ||
Principal Assumed or Originated | $ 14,679 | ||
Outstanding Balance | $ 14,368 | 14,604 | |
Hilton Garden Inn Grapevine, TX [Member] | |||
Debt (Details) - Mortgage Note Debt [Line Items] | |||
Brand | Hilton Garden Inn | ||
Interest Rate | [1] | 4.89% | |
Loan Assumption or Origination Date | Aug. 29, 2012 | ||
Maturity Date | Sep. 1, 2022 | ||
Principal Assumed or Originated | $ 11,810 | ||
Outstanding Balance | $ 10,412 | 10,707 | |
Courtyard Collegeville/Philadelphia, PA [Member] | |||
Debt (Details) - Mortgage Note Debt [Line Items] | |||
Brand | Courtyard | ||
Interest Rate | [1] | 4.89% | |
Loan Assumption or Origination Date | Aug. 30, 2012 | ||
Maturity Date | Sep. 1, 2022 | ||
Principal Assumed or Originated | $ 12,650 | ||
Outstanding Balance | $ 11,152 | 11,468 | |
Courtyard Hattiesburg, MS [Member] | |||
Debt (Details) - Mortgage Note Debt [Line Items] | |||
Brand | Courtyard | ||
Interest Rate | [1] | 5.00% | |
Loan Assumption or Origination Date | Mar. 1, 2014 | ||
Maturity Date | Sep. 1, 2022 | ||
Principal Assumed or Originated | $ 5,732 | ||
Outstanding Balance | $ 5,212 | 5,357 | |
Courtyard Rancho Bernardo / San Diego, CA [Member] | |||
Debt (Details) - Mortgage Note Debt [Line Items] | |||
Brand | Courtyard | ||
Interest Rate | [1] | 5.00% | |
Loan Assumption or Origination Date | Mar. 1, 2014 | ||
Maturity Date | Sep. 1, 2022 | ||
Principal Assumed or Originated | $ 15,060 | ||
Outstanding Balance | $ 13,692 | 14,074 | |
Courtyard Kirkland, WA [Member] | |||
Debt (Details) - Mortgage Note Debt [Line Items] | |||
Brand | Courtyard | ||
Interest Rate | [1] | 5.00% | |
Loan Assumption or Origination Date | Mar. 1, 2014 | ||
Maturity Date | Sep. 1, 2022 | ||
Principal Assumed or Originated | $ 12,145 | ||
Outstanding Balance | $ 11,042 | 11,350 | |
Residence Inn Seattle, WA [Member] | |||
Debt (Details) - Mortgage Note Debt [Line Items] | |||
Brand | Residence Inn | ||
Interest Rate | [1] | 4.96% | |
Loan Assumption or Origination Date | Mar. 1, 2014 | ||
Maturity Date | Sep. 1, 2022 | ||
Principal Assumed or Originated | $ 28,269 | ||
Outstanding Balance | $ 25,687 | 26,409 | |
Embassy Suites Anchorage, AK [Member] | |||
Debt (Details) - Mortgage Note Debt [Line Items] | |||
Brand | Embassy Suites | ||
Interest Rate | [1] | 4.97% | |
Loan Assumption or Origination Date | Sep. 13, 2012 | ||
Maturity Date | Oct. 1, 2022 | ||
Principal Assumed or Originated | $ 23,230 | ||
Outstanding Balance | $ 20,560 | 21,133 | |
Courtyard Somerset, NJ [Member] | |||
Debt (Details) - Mortgage Note Debt [Line Items] | |||
Brand | Courtyard | ||
Interest Rate | [1] | 4.73% | |
Loan Assumption or Origination Date | Mar. 1, 2014 | ||
Maturity Date | Oct. 6, 2022 | ||
Principal Assumed or Originated | $ 8,750 | ||
Outstanding Balance | $ 7,932 | 8,160 | |
Homewood Suites Tukwila, WA [Member] | |||
Debt (Details) - Mortgage Note Debt [Line Items] | |||
Brand | Homewood Suites | ||
Interest Rate | [1] | 4.73% | |
Loan Assumption or Origination Date | Mar. 1, 2014 | ||
Maturity Date | Oct. 6, 2022 | ||
Principal Assumed or Originated | $ 9,431 | ||
Outstanding Balance | $ 8,549 | 8,795 | |
Courtyard Prattville, AL [Member] | |||
Debt (Details) - Mortgage Note Debt [Line Items] | |||
Brand | Courtyard | ||
Interest Rate | [1] | 4.12% | |
Loan Assumption or Origination Date | Mar. 1, 2014 | ||
Maturity Date | Feb. 6, 2023 | ||
Principal Assumed or Originated | $ 6,596 | ||
Outstanding Balance | $ 5,943 | 6,123 | |
Homewood Suites Huntsville, AL [Member] | |||
Debt (Details) - Mortgage Note Debt [Line Items] | |||
Brand | Homewood Suites | ||
Interest Rate | [1] | 4.12% | |
Loan Assumption or Origination Date | Mar. 1, 2014 | ||
Maturity Date | Feb. 6, 2023 | ||
Principal Assumed or Originated | $ 8,306 | ||
Outstanding Balance | $ 7,483 | 7,711 | |
Residence Inn San Diego, CA [Member] | |||
Debt (Details) - Mortgage Note Debt [Line Items] | |||
Brand | Residence Inn | ||
Interest Rate | [1] | 3.97% | |
Loan Assumption or Origination Date | Mar. 1, 2014 | ||
Maturity Date | Mar. 6, 2023 | ||
Principal Assumed or Originated | $ 18,600 | ||
Outstanding Balance | $ 16,733 | 17,248 | |
Homewood Suites Miami, FL [Member] | |||
Debt (Details) - Mortgage Note Debt [Line Items] | |||
Brand | Homewood Suites | ||
Interest Rate | [1] | 4.02% | |
Loan Assumption or Origination Date | Mar. 1, 2014 | ||
Maturity Date | Apr. 1, 2023 | ||
Principal Assumed or Originated | $ 16,677 | ||
Outstanding Balance | $ 15,022 | 15,479 | |
Courtyard Syracuse, NY [Member] | |||
Debt (Details) - Mortgage Note Debt [Line Items] | |||
Brand | Courtyard | ||
Interest Rate | [1] | 4.75% | |
Loan Assumption or Origination Date | Oct. 16, 2015 | ||
Maturity Date | [4] | Aug. 1, 2024 | |
Principal Assumed or Originated | $ 11,199 | ||
Outstanding Balance | $ 10,637 | 10,905 | |
Residence Inn Syracuse, NY [Member] | |||
Debt (Details) - Mortgage Note Debt [Line Items] | |||
Brand | Residence Inn | ||
Interest Rate | [1] | 4.75% | |
Loan Assumption or Origination Date | Oct. 16, 2015 | ||
Maturity Date | [4] | Aug. 1, 2024 | |
Principal Assumed or Originated | $ 11,199 | ||
Outstanding Balance | $ 10,637 | 10,905 | |
Homewood Suites New Orleans, LA [Member] | |||
Debt (Details) - Mortgage Note Debt [Line Items] | |||
Brand | Homewood Suites | ||
Interest Rate | [1] | 4.36% | |
Loan Assumption or Origination Date | Jul. 17, 2014 | ||
Maturity Date | Aug. 11, 2024 | ||
Principal Assumed or Originated | $ 27,000 | ||
Outstanding Balance | $ 24,919 | 25,577 | |
Residence Inn Westford, MA [Member] | |||
Debt (Details) - Mortgage Note Debt [Line Items] | |||
Brand | Residence Inn | ||
Interest Rate | [1] | 4.28% | |
Loan Assumption or Origination Date | Mar. 18, 2015 | ||
Maturity Date | Apr. 11, 2025 | ||
Principal Assumed or Originated | $ 10,000 | ||
Outstanding Balance | $ 9,386 | 9,626 | |
Hilton Garden Inn Denver, CO [Member] | |||
Debt (Details) - Mortgage Note Debt [Line Items] | |||
Brand | Hilton Garden Inn | ||
Interest Rate | [1] | 4.46% | |
Loan Assumption or Origination Date | Sep. 1, 2016 | ||
Maturity Date | Jun. 11, 2025 | ||
Principal Assumed or Originated | $ 34,118 | ||
Outstanding Balance | $ 33,046 | 33,857 | |
Courtyard Oceanside, CA [Member] | |||
Debt (Details) - Mortgage Note Debt [Line Items] | |||
Brand | Courtyard | ||
Interest Rate | [1] | 4.28% | |
Loan Assumption or Origination Date | Sep. 1, 2016 | ||
Maturity Date | Oct. 1, 2025 | ||
Principal Assumed or Originated | $ 13,655 | ||
Outstanding Balance | $ 13,332 | 13,576 | |
Hilton Garden Inn Omaha, NE [Member] | |||
Debt (Details) - Mortgage Note Debt [Line Items] | |||
Brand | Hilton Garden Inn | ||
Interest Rate | [1] | 4.28% | |
Loan Assumption or Origination Date | Sep. 1, 2016 | ||
Maturity Date | Oct. 1, 2025 | ||
Principal Assumed or Originated | $ 22,682 | ||
Outstanding Balance | $ 22,145 | 22,550 | |
Hampton Boise, ID [Member] | |||
Debt (Details) - Mortgage Note Debt [Line Items] | |||
Brand | Hampton | ||
Interest Rate | [1] | 4.37% | |
Loan Assumption or Origination Date | May 26, 2016 | ||
Maturity Date | Jun. 11, 2026 | ||
Principal Assumed or Originated | $ 24,000 | ||
Outstanding Balance | $ 23,422 | 23,813 | |
Courtyard Burbank, CA [Member] | |||
Debt (Details) - Mortgage Note Debt [Line Items] | |||
Brand | Courtyard | ||
Interest Rate | [1] | 3.55% | |
Loan Assumption or Origination Date | Nov. 3, 2016 | ||
Maturity Date | Dec. 1, 2026 | ||
Principal Assumed or Originated | $ 25,564 | ||
Outstanding Balance | $ 24,917 | 25,564 | |
Courtyard San Diego, CA [Member] | |||
Debt (Details) - Mortgage Note Debt [Line Items] | |||
Brand | Courtyard | ||
Interest Rate | [1] | 3.55% | |
Loan Assumption or Origination Date | Nov. 3, 2016 | ||
Maturity Date | Dec. 1, 2026 | ||
Principal Assumed or Originated | $ 25,473 | ||
Outstanding Balance | $ 24,828 | 25,473 | |
Hampton San Diego, CA [Member] | |||
Debt (Details) - Mortgage Note Debt [Line Items] | |||
Brand | Hampton | ||
Interest Rate | [1] | 3.55% | |
Loan Assumption or Origination Date | Nov. 3, 2016 | ||
Maturity Date | Dec. 1, 2026 | ||
Principal Assumed or Originated | $ 18,963 | ||
Outstanding Balance | $ 18,483 | 18,963 | |
Homewood Suites San Jose, CA [Member] | |||
Debt (Details) - Mortgage Note Debt [Line Items] | |||
Brand | Homewood Suites | ||
Interest Rate | [1] | 4.22% | |
Loan Assumption or Origination Date | Dec. 22, 2017 | ||
Maturity Date | Jan. 1, 2038 | ||
Principal Assumed or Originated | $ 30,000 | ||
Outstanding Balance | 30,000 | 0 | |
Total [Member] | |||
Debt (Details) - Mortgage Note Debt [Line Items] | |||
Principal Assumed or Originated | 544,669 | ||
Outstanding Balance | 457,435 | 494,428 | |
Unamortized fair value adjustment of assumed debt | 4,330 | 5,229 | |
Unamortized debt issuance costs | (2,748) | (2,628) | |
Total | $ 459,017 | $ 497,029 | |
[1] | Interest rates are the rates per the loan agreement. For loans assumed, the Company adjusted the interest rates per the loan agreement to market rates and is amortizing the adjustments to interest expense over the life of the loan. | ||
[2] | Loans were repaid in full during 2017. | ||
[3] | Assets securing this loan were classified as held for sale as of December 31, 2016. In April 2017, the assets securing this loan were sold, and the loan was assumed by the buyer of those assets. | ||
[4] | Outstanding principal balance is callable by lender or prepayable by the Company on August 1, 2019. |
Debt (Details) - Future Minimum
Debt (Details) - Future Minimum Debt Payments - USD ($) $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 |
Future Minimum Debt Payments [Abstract] | ||
2,018 | $ 11,964 | |
2,019 | 139,622 | |
2,020 | 452,223 | |
2,021 | 96,415 | |
2,022 | 108,034 | |
Thereafter | 416,077 | |
1,224,335 | ||
Unamortized fair value adjustment of assumed debt | 4,330 | |
Unamortized debt issuance costs related to term loans and mortgage debt | (6,469) | |
Total | $ 1,222,196 | $ 1,300,000 |
Fair Value of Financial Instr47
Fair Value of Financial Instruments (Details) $ in Thousands | 12 Months Ended | |||
Dec. 31, 2017USD ($) | Dec. 31, 2016USD ($) | Dec. 31, 2015USD ($) | Dec. 31, 2014 | |
Fair Value of Financial Instruments (Details) [Line Items] | ||||
Long-term Debt | $ 1,222,196 | $ 1,300,000 | ||
Long-term Debt, Fair Value | $ 1,200,000 | 1,300,000 | ||
Derivative, Description of Terms | Company pays a fixed rate of interest and receives a floating rate of interest equal to the one month LIBOR | |||
Other Comprehensive Income (Loss), Derivatives Qualifying as Hedges, Net of Tax | $ 5,189 | 6,646 | $ (1,546) | |
Amount of net losses reclassified from accumulated other comprehensive income (loss) to interest expense | (2,200) | $ (4,000) | $ (2,100) | |
Net unrealized gains in accumulated other comprehensive income (loss) expected to be reclassified to interest expense within the next 12 months | $ 1,100 | |||
Terminated or Matured Swaps not Designated as Cash Flow Hedges [Member] | ||||
Fair Value of Financial Instruments (Details) [Line Items] | ||||
Number of Interest Rate Derivatives Held | 4 | |||
Number of Interest Rate Derivatives Matured or Terminated | 1 | 3 | ||
Derivative, Gain (Loss) on Derivative, Net | $ (400) | |||
Amount of losses reclassified from accumulated other comprehensive loss into net income | $ (800) |
Fair Value of Financial Instr48
Fair Value of Financial Instruments (Details) - Schedule of Interest Rate Swap Agreements - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2017 | Dec. 31, 2016 | |
Fair Value of Financial Instruments (Details) - Schedule of Interest Rate Swap Agreements [Line Items] | ||
Notional amount | $ 557,500 | |
Fair value asset (liability) | 9,778 | $ 4,589 |
Interest Rate Swap #1 [Member] | Designated as Hedging Instrument [Member] | ||
Fair Value of Financial Instruments (Details) - Schedule of Interest Rate Swap Agreements [Line Items] | ||
Notional amount | $ 212,500 | |
Origination Date | May 21, 2015 | |
Maturity date | May 18, 2020 | |
Swap fixed interest rate | 1.58% | |
Fair value asset (liability) | $ 2,033 | (198) |
Interest Rate Swap #2 [Member] | Designated as Hedging Instrument [Member] | ||
Fair Value of Financial Instruments (Details) - Schedule of Interest Rate Swap Agreements [Line Items] | ||
Notional amount | $ 110,000 | |
Origination Date | Jul. 2, 2015 | |
Maturity date | May 18, 2020 | |
Swap fixed interest rate | 1.62% | |
Fair value asset (liability) | $ 951 | (246) |
Interest Rate Swap #3 [Member] | Designated as Hedging Instrument [Member] | ||
Fair Value of Financial Instruments (Details) - Schedule of Interest Rate Swap Agreements [Line Items] | ||
Notional amount | $ 50,000 | |
Origination Date | Apr. 7, 2016 | |
Maturity date | Mar. 31, 2021 | |
Swap fixed interest rate | 1.09% | |
Fair value asset (liability) | $ 1,544 | 1,289 |
Interest Rate Swap #4 [Member] | Designated as Hedging Instrument [Member] | ||
Fair Value of Financial Instruments (Details) - Schedule of Interest Rate Swap Agreements [Line Items] | ||
Notional amount | $ 100,000 | |
Origination Date | Apr. 7, 2016 | |
Maturity date | Mar. 31, 2023 | |
Swap fixed interest rate | 1.33% | |
Fair value asset (liability) | $ 4,098 | 3,744 |
Interest Rate Swap #5 [Member] | Designated as Hedging Instrument [Member] | ||
Fair Value of Financial Instruments (Details) - Schedule of Interest Rate Swap Agreements [Line Items] | ||
Notional amount | $ 75,000 | |
Origination Date | May 31, 2017 | |
Maturity date | Jun. 30, 2024 | |
Swap fixed interest rate | 1.96% | |
Fair value asset (liability) | $ 1,043 | 0 |
Interest Rate Swap #6 [Member] | Designated as Hedging Instrument [Member] | ||
Fair Value of Financial Instruments (Details) - Schedule of Interest Rate Swap Agreements [Line Items] | ||
Notional amount | $ 10,000 | |
Origination Date | Aug. 10, 2017 | |
Maturity date | Jun. 30, 2024 | |
Swap fixed interest rate | 2.01% | |
Fair value asset (liability) | $ 109 | $ 0 |
Related Parties (Details)
Related Parties (Details) - USD ($) shares in Millions, $ in Millions | Sep. 01, 2016 | Aug. 31, 2016 | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 |
Related Parties (Details) [Line Items] | |||||
Related Party Transaction, Description of Transaction | To efficiently manage cash disbursements, the Company or ARG may make payments for the other company.  Under this cash management process, each company may advance or defer up to $1 million at any time.  Each quarter, any outstanding amounts are settled between the companies.  This process allows each company to minimize its cash on hand and reduces the cost for each company.  The amounts outstanding at any point in time are not significant to either of the companies. | ||||
Reimbursement Recevied From Related Parties For Their Proportionate Share of Staffing and Office Related Costs Provided by Apple Hospitality [Member] | |||||
Related Parties (Details) [Line Items] | |||||
Related Party Transaction, Amounts of Transaction | $ (0.7) | $ (2.5) | $ (3.1) | ||
Due from Related Parties | 0.3 | 0.2 | |||
Prior to Apple Ten Merger and Related Transactions Completed on September 1, 2016 [Member] | Advisory Fees Earned by Apple Hospitality from Apple Ten [Member] | |||||
Related Parties (Details) [Line Items] | |||||
Related Party Transaction, Amounts of Transaction | $ (1.6) | (2.5) | |||
Apple Air Holding, LLC [Member] | Prior to Apple Ten Merger and Related Transactions Completed on September 1, 2016 [Member] | |||||
Related Parties (Details) [Line Items] | |||||
Subsidiary or Equity Method Investee, Cumulative Percentage Ownership after All Transactions | 74.00% | ||||
Apple Air Holding, LLC [Member] | Prior to Apple Ten Merger and Related Transactions Completed on September 1, 2016 [Member] | Apple Ten's Minority Interest [Member] | |||||
Related Parties (Details) [Line Items] | |||||
Noncontrolling Interest, Ownership Percentage by Noncontrolling Owners | 26.00% | ||||
Income (Loss) Attributable to Noncontrolling Interest, before Tax | $ (0.2) | (0.3) | |||
Apple Air Holding, LLC [Member] | Purchase of Apple Ten Equity Interest in Apple Ten Merger [Member] | |||||
Related Parties (Details) [Line Items] | |||||
Related Party Transaction, Amounts of Transaction | $ 0.7 | ||||
Business Acquisition, Percentage of Voting Interests Acquired | 26.00% | ||||
Apple Air Holding, LLC [Member] | Upon Completion of Apple Ten Merger and Related Transactions on September 1, 2016 [Member] | |||||
Related Parties (Details) [Line Items] | |||||
Subsidiary or Equity Method Investee, Cumulative Percentage Ownership after All Transactions | 100.00% | ||||
Aircraft Owned by Executive Officers [Member] | |||||
Related Parties (Details) [Line Items] | |||||
Aircraft Rental Expense | $ 0.1 | $ 0.2 | $ 0.2 | ||
Apple Ten Merger [Member] | Officers and Executive Chairman [Member] | |||||
Related Parties (Details) [Line Items] | |||||
Business Combination, Common Shares Issued to Related Party (in Shares) | 3.1 | ||||
Business Combination, Total Cash Paid to Related Party as Partial Consideration | $ 6 |
Shareholders' Equity (Details)
Shareholders' Equity (Details) $ / shares in Units, $ in Thousands | May 18, 2015shares | Dec. 31, 2017USD ($)$ / sharesshares | May 31, 2015$ / shares | Dec. 31, 2017USD ($)$ / sharesshares | Dec. 31, 2016USD ($)$ / sharesshares | Dec. 31, 2015USD ($)$ / sharesshares | Dec. 31, 2017USD ($)$ / sharesshares | Dec. 31, 2017USD ($)$ / sharesshares |
Shareholders' Equity (Details) [Line Items] | ||||||||
Common Stock, Dividends, Per Share, Cash Paid (in Dollars per share) | $ / shares | $ 1.27 | |||||||
Payments of Ordinary Dividends, Common Stock | $ 267,917 | $ 229,056 | $ 229,127 | |||||
Dividends Payable, Amount Per Share (in Dollars per share) | $ / shares | $ 0.10 | |||||||
Dividends Payable | $ 23,020 | $ 23,020 | 22,294 | $ 17,437 | $ 23,020 | $ 23,020 | ||
Stock Repurchased and Retired During Period, Value | $ (7,869) | $ (237,567) | ||||||
Stockholders' Equity Note, Stock Split, Conversion Ratio | 0.50 | 0.50 | ||||||
Common Stock, Shares, Outstanding (in Shares) | shares | 229,961,548 | 229,961,548 | 222,938,648 | 229,961,548 | 229,961,548 | |||
Common Stock, Shares, Issued (in Shares) | shares | 229,961,548 | 229,961,548 | 222,938,648 | 229,961,548 | 229,961,548 | |||
Preferred Stock, Shares Outstanding (in Shares) | shares | 0 | 0 | 0 | 0 | 0 | |||
Preferred Stock, Shares Issued (in Shares) | shares | 0 | 0 | 0 | 0 | 0 | |||
Preferred Stock, Value, Issued | $ 0 | $ 0 | $ 0 | $ 0 | $ 0 | |||
Preferred Stock, Shares Authorized (in Shares) | shares | 30,000,000 | 30,000,000 | 30,000,000 | 30,000,000 | 30,000,000 | |||
Common Shares Prior to Reverse Share Split [Member] | ||||||||
Shareholders' Equity (Details) [Line Items] | ||||||||
Common Stock, Shares, Outstanding (in Shares) | shares | 372,200,000 | |||||||
Common Stock, Shares, Issued (in Shares) | shares | 372,200,000 | |||||||
Common Shares After Reverse Share Split [Member] | ||||||||
Shareholders' Equity (Details) [Line Items] | ||||||||
Common Stock, Shares, Outstanding (in Shares) | shares | 186,100,000 | |||||||
Common Stock, Shares, Issued (in Shares) | shares | 186,100,000 | |||||||
Annual Distribution [Member] | ||||||||
Shareholders' Equity (Details) [Line Items] | ||||||||
Annual Distribution rate (in Dollars per share) | $ / shares | $ 1.36 | $ 1.20 | ||||||
Distributions [Member] | ||||||||
Shareholders' Equity (Details) [Line Items] | ||||||||
Common Stock, Dividends, Per Share, Cash Paid (in Dollars per share) | $ / shares | $ 1.20 | $ 1.20 | $ 1.27 | |||||
Payments of Ordinary Dividends, Common Stock | $ 267,900 | $ 229,100 | $ 229,100 | |||||
Dividends Payable, Amount Per Share (in Dollars per share) | $ / shares | $ 0.10 | $ 0.10 | $ 0.10 | $ 0.10 | $ 0.10 | |||
Dividends Payable | $ 23,000 | $ 23,000 | $ 22,300 | $ 23,000 | $ 23,000 | |||
ATM Program [Member] | ||||||||
Shareholders' Equity (Details) [Line Items] | ||||||||
Stock Issuance Program, Authorized Amount | $ 300,000 | 300,000 | 300,000 | 300,000 | ||||
Stock Issued During Period, Shares, New Issues (in Shares) | shares | 6,900,000 | |||||||
Shares Issued Weighted Average Market Sales Price Per Share (in Dollars per share) | $ / shares | $ 19.55 | |||||||
Proceeds From Issuance of Common Stock, Gross | $ 135,100 | |||||||
Stock Issuance Program, Available for Issuance | 164,900 | 164,900 | 164,900 | 164,900 | ||||
Share Repurchase Program [Member] | ||||||||
Shareholders' Equity (Details) [Line Items] | ||||||||
Stock Repurchase Program, Authorized Amount | 475,000 | $ 475,000 | $ 475,000 | 475,000 | ||||
Share Repurchase Program, End Date | July 2,018 | |||||||
Stock Repurchased and Retired During Period, Shares (in Shares) | shares | 400,000 | 1,200,000 | 1,700,000 | |||||
Stock Repurchased During Period, Weighted Average Market Purchase Price Per Share (in Dollars per share) | $ / shares | $ 17.72 | $ 17.61 | $ 17.64 | |||||
Stock Repurchased and Retired During Period, Value | $ 7,900 | $ 22,000 | $ 29,900 | |||||
Stock Repurchase Program, Remaining Authorized Repurchase Amount | $ 467,500 | $ 467,500 | $ 467,500 | $ 467,500 | ||||
Tender Offer [Member] | ||||||||
Shareholders' Equity (Details) [Line Items] | ||||||||
Stock Repurchased and Retired During Period, Shares (in Shares) | shares | 10,500,000 | |||||||
Stock Repurchased and Retired During Period, Value | $ 200,000 | |||||||
Stock Repurchased During Period, Price Per Share (in Dollars per share) | $ / shares | $ 19 | |||||||
Terminated Share Redemption Program [Member] | ||||||||
Shareholders' Equity (Details) [Line Items] | ||||||||
Stock Repurchased and Retired During Period, Shares (in Shares) | shares | 800,000 | |||||||
Stock Repurchased and Retired During Period, Value | $ 14,900 | |||||||
Stock Repurchased During Period, Price Per Share (in Dollars per share) | $ / shares | $ 18.40 | |||||||
Share Redemption Program, Termination Date | April 2,015 |
Compensation Plans (Details)
Compensation Plans (Details) - USD ($) $ / shares in Units, $ in Millions | 3 Months Ended | 12 Months Ended | |||
Mar. 31, 2017 | Mar. 31, 2016 | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
2014 Omnibus Incentive Plan [Member] | |||||
Compensation Plans (Details) [Line Items] | |||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized (in Shares) | 10,000,000 | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant (in Shares) | 9,400,000 | ||||
2017 Executive Incentive Plan [Member] | |||||
Compensation Plans (Details) [Line Items] | |||||
Compensation Arrangement by Cash and Share-based Payment Award, Component Description | The components of the operational performance metrics and shareholder return metrics are equally weighted and the two metrics each account for 50% of the total target incentive compensation. | ||||
Labor and Related Expense | $ 8.4 | ||||
Accrued Bonuses, Current | 8.4 | ||||
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized | $ 1.2 | ||||
Portion of Awards Paid in Cash | 25.00% | ||||
Portion of Awards Issued in Equity | 75.00% | ||||
2016 Executive Incentive Plan [Member] | |||||
Compensation Plans (Details) [Line Items] | |||||
Labor and Related Expense | $ 2.8 | ||||
Accrued Bonuses, Current | 2.8 | ||||
2015 Executive Incentive Plan [Member] | |||||
Compensation Plans (Details) [Line Items] | |||||
Labor and Related Expense | $ 8.4 | ||||
Accrued Bonuses, Current | 8.4 | ||||
Unrestricted Stock [Member] | Equity Awards Issued in the First Quarter of 2018 [Member] | 2017 Executive Incentive Plan [Member] | |||||
Compensation Plans (Details) [Line Items] | |||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Portion | two-thirds | ||||
Restricted Stock Vesting on December 14, 2018 [Member] | Equity Awards Issued in the First Quarter of 2018 [Member] | 2017 Executive Incentive Plan [Member] | |||||
Compensation Plans (Details) [Line Items] | |||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Portion | one-third | ||||
Share Based Compensation [Member] | Equity Awards Issued in First Quarter of 2017 [Member] | 2016 Executive Incentive Plan [Member] | |||||
Compensation Plans (Details) [Line Items] | |||||
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized | 0.4 | ||||
Accrued Bonuses, Share Based Compensation, Current | $ 1.9 | ||||
Stock Issued During Period, Shares, Share-based Compensation, Net of Forfeitures (in Shares) | 101,305 | ||||
Stock Issued During Period, Shares, Share-based Compensation, Forfeited (in Shares) | 19,667 | ||||
Shares Issued, Price Per Share (in Dollars per share) | $ 19.10 | ||||
Stock Issued During Period, Value, Share-based Compensation, Gross | $ 2.3 | ||||
Share Based Compensation [Member] | Equity Awards Issued in First Quarter of 2016 [Member] | 2015 Executive Incentive Plan [Member] | |||||
Compensation Plans (Details) [Line Items] | |||||
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized | 1.6 | ||||
Accrued Bonuses, Share Based Compensation, Current | $ 4.7 | ||||
Stock Issued During Period, Shares, Share-based Compensation, Net of Forfeitures (in Shares) | 304,345 | ||||
Stock Issued During Period, Shares, Share-based Compensation, Forfeited (in Shares) | 11,787 | ||||
Shares Issued, Price Per Share (in Dollars per share) | $ 19.87 | ||||
Stock Issued During Period, Value, Share-based Compensation, Gross | $ 6.3 | ||||
Share Based Compensation [Member] | Unrestricted Shares at Time of Issuance [Member] | Equity Awards Issued in First Quarter of 2017 [Member] | 2016 Executive Incentive Plan [Member] | |||||
Compensation Plans (Details) [Line Items] | |||||
Stock Issued During Period, Shares, Share-based Compensation, Net of Forfeitures (in Shares) | 60,028 | ||||
Share Based Compensation [Member] | Unrestricted Shares at Time of Issuance [Member] | Equity Awards Issued in First Quarter of 2016 [Member] | 2015 Executive Incentive Plan [Member] | |||||
Compensation Plans (Details) [Line Items] | |||||
Stock Issued During Period, Shares, Share-based Compensation, Net of Forfeitures (in Shares) | 146,279 | ||||
Share Based Compensation [Member] | Restricted Shares Vesting on December 15, 2017 [Member] | Equity Awards Issued in First Quarter of 2017 [Member] | 2016 Executive Incentive Plan [Member] | |||||
Compensation Plans (Details) [Line Items] | |||||
Stock Issued During Period, Shares, Share-based Compensation, Forfeited (in Shares) | 13,129 | ||||
Stock Issued During Period, Shares, Share-based Compensation, Gross (in Shares) | 41,277 | ||||
Allocated Share-based Compensation Expense | $ 0.4 | ||||
Share Based Compensation [Member] | Restricted Shares Vested on December 31, 2016 [Member] | Equity Awards Issued in First Quarter of 2016 [Member] | 2015 Executive Incentive Plan [Member] | |||||
Compensation Plans (Details) [Line Items] | |||||
Stock Issued During Period, Shares, Share-based Compensation, Forfeited (in Shares) | 50,044 | ||||
Stock Issued During Period, Shares, Share-based Compensation, Gross (in Shares) | 158,066 | ||||
Allocated Share-based Compensation Expense | $ 1.6 | ||||
Potential Aggregate Payout [Member] | Minimum [Member] | 2017 Executive Incentive Plan [Member] | |||||
Compensation Plans (Details) [Line Items] | |||||
Labor and Related Expense | 0 | ||||
Potential Aggregate Payout [Member] | Maximum [Member] | 2017 Executive Incentive Plan [Member] | |||||
Compensation Plans (Details) [Line Items] | |||||
Labor and Related Expense | $ 18 |
Management and Franchise Agre52
Management and Franchise Agreements (Details) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2017USD ($) | Dec. 31, 2016USD ($) | Dec. 31, 2015USD ($) | |
Management and Franchise Agreements (Details) [Line Items] | |||
Number of Hotels | 239 | ||
Owned Property Management Costs | $ 42,722 | $ 35,586 | $ 31,074 |
Direct Operating Cost, Royalty Expense | $ 52,930 | $ 44,225 | $ 38,003 |
Marriott or Hilton [Member] | |||
Management and Franchise Agreements (Details) [Line Items] | |||
Number of Hotels Operated by Manager | 16 | ||
Minimum [Member] | |||
Management and Franchise Agreements (Details) [Line Items] | |||
Management Agreement, Initial Term | 1 year | ||
Franchise Agreement, Initial Term | 10 years | ||
Maximum [Member] | |||
Management and Franchise Agreements (Details) [Line Items] | |||
Management Agreement, Initial Term | 30 years | ||
Franchise Agreement, Initial Term | 30 years | ||
Variable Management Fee Structure [Member] | |||
Management and Franchise Agreements (Details) [Line Items] | |||
Management Agreement, Description | As of December 31, 2017, nearly 80% of the Company’s hotels operate under a variable management fee structure, which the Company believes better aligns incentives for each hotel manager to maximize each property’s performance than a base-plus-incentive management fee structure | ||
Variable Management Fee Structure [Member] | Minimum [Member] | |||
Management and Franchise Agreements (Details) [Line Items] | |||
Hotel Management Fee, Percentage | 2.50% | ||
Variable Management Fee Structure [Member] | Maximum [Member] | |||
Management and Franchise Agreements (Details) [Line Items] | |||
Hotel Management Fee, Percentage | 3.50% |
Management and Franchise Agre53
Management and Franchise Agreements (Details) - Management and Franchise Agreements | 12 Months Ended |
Dec. 31, 2017 | |
LBA [Member] | |
Management and Franchise Agreements (Details) - Management and Franchise Agreements [Line Items] | |
Number of Hotels Operated by Manager | 42 |
White Lodging [Member] | |
Management and Franchise Agreements (Details) - Management and Franchise Agreements [Line Items] | |
Number of Hotels Operated by Manager | 28 |
Dimension [Member] | |
Management and Franchise Agreements (Details) - Management and Franchise Agreements [Line Items] | |
Number of Hotels Operated by Manager | 24 |
McKibbon [Member] | |
Management and Franchise Agreements (Details) - Management and Franchise Agreements [Line Items] | |
Number of Hotels Operated by Manager | 18 |
Western [Member] | |
Management and Franchise Agreements (Details) - Management and Franchise Agreements [Line Items] | |
Number of Hotels Operated by Manager | 17 |
Marriott [Member] | |
Management and Franchise Agreements (Details) - Management and Franchise Agreements [Line Items] | |
Number of Hotels Operated by Manager | 14 |
Raymond [Member] | |
Management and Franchise Agreements (Details) - Management and Franchise Agreements [Line Items] | |
Number of Hotels Operated by Manager | 14 |
Newport [Member] | |
Management and Franchise Agreements (Details) - Management and Franchise Agreements [Line Items] | |
Number of Hotels Operated by Manager | 9 |
North Central [Member] | |
Management and Franchise Agreements (Details) - Management and Franchise Agreements [Line Items] | |
Number of Hotels Operated by Manager | 9 |
Vista Host [Member] | |
Management and Franchise Agreements (Details) - Management and Franchise Agreements [Line Items] | |
Number of Hotels Operated by Manager | 9 |
Crestline [Member] | |
Management and Franchise Agreements (Details) - Management and Franchise Agreements [Line Items] | |
Number of Hotels Operated by Manager | 8 |
InnVentures [Member] | |
Management and Franchise Agreements (Details) - Management and Franchise Agreements [Line Items] | |
Number of Hotels Operated by Manager | 8 |
True North [Member] | |
Management and Franchise Agreements (Details) - Management and Franchise Agreements [Line Items] | |
Number of Hotels Operated by Manager | 7 |
Aimbridge [Member] | |
Management and Franchise Agreements (Details) - Management and Franchise Agreements [Line Items] | |
Number of Hotels Operated by Manager | 6 |
Chartwell [Member] | |
Management and Franchise Agreements (Details) - Management and Franchise Agreements [Line Items] | |
Number of Hotels Operated by Manager | 5 |
Gateway [Member] | |
Management and Franchise Agreements (Details) - Management and Franchise Agreements [Line Items] | |
Number of Hotels Operated by Manager | 5 |
Schulte [Member] | |
Management and Franchise Agreements (Details) - Management and Franchise Agreements [Line Items] | |
Number of Hotels Operated by Manager | 4 |
Huntington [Member] | |
Management and Franchise Agreements (Details) - Management and Franchise Agreements [Line Items] | |
Number of Hotels Operated by Manager | 3 |
Stonebridge [Member] | |
Management and Franchise Agreements (Details) - Management and Franchise Agreements [Line Items] | |
Number of Hotels Operated by Manager | 3 |
Hilton [Member] | |
Management and Franchise Agreements (Details) - Management and Franchise Agreements [Line Items] | |
Number of Hotels Operated by Manager | 2 |
New Castle [Member] | |
Management and Franchise Agreements (Details) - Management and Franchise Agreements [Line Items] | |
Number of Hotels Operated by Manager | 2 |
Highgate [Member] | |
Management and Franchise Agreements (Details) - Management and Franchise Agreements [Line Items] | |
Number of Hotels Operated by Manager | 1 |
Pyramid [Member] | |
Management and Franchise Agreements (Details) - Management and Franchise Agreements [Line Items] | |
Number of Hotels Operated by Manager | 1 |
Total [Member] | |
Management and Franchise Agreements (Details) - Management and Franchise Agreements [Line Items] | |
Number of Hotels Operated by Manager | 239 |
Lease Commitments (Details)
Lease Commitments (Details) $ in Millions | 12 Months Ended | |||
Dec. 31, 2017USD ($) | Dec. 31, 2016USD ($) | Dec. 31, 2015USD ($) | Sep. 01, 2016 | |
Hotel Ground Lease [Member] | ||||
Lease Commitments (Details) [Line Items] | ||||
Number of Properties Subject to Ground Leases | 14 | |||
Parking Lot Ground Lease [Member] | ||||
Lease Commitments (Details) [Line Items] | ||||
Number of Properties Subject to Ground Leases | 3 | |||
Hotel and Parking Lot Ground Leases [Member] | ||||
Lease Commitments (Details) [Line Items] | ||||
Amortization of Intangible Lease Assets (Liabilities), Net | $ 0.8 | $ 0.7 | $ 0.7 | |
Straight Line Rent Expense | 3.7 | 3.4 | $ 3.3 | |
Straight Line Lease Liability | $ 13.3 | 9.6 | ||
Minimum [Member] | Hotel and Parking Lot Ground Leases [Member] | ||||
Lease Commitments (Details) [Line Items] | ||||
Lessee, Operating Lease, Term of Contract | 6 years | |||
Lessee, Operating Lease, Renewal Term | 5 years | |||
Maximum [Member] | Hotel and Parking Lot Ground Leases [Member] | ||||
Lease Commitments (Details) [Line Items] | ||||
Lessee, Operating Lease, Term of Contract | 88 years | |||
Lessee, Operating Lease, Renewal Term | 120 years | |||
Below Market Leases [Member] | Hotel and Parking Lot Ground Leases [Member] | ||||
Lease Commitments (Details) [Line Items] | ||||
Number of Leases Assumed | 12 | |||
Acquired Intangible Lease Asset, Net | $ 27.3 | 28.4 | ||
Above Market Leases [Member] | Hotel and Parking Lot Ground Leases [Member] | ||||
Lease Commitments (Details) [Line Items] | ||||
Number of Leases Assumed | 3 | |||
Acquired Intangible Lease Liability, Net | $ 6.2 | $ 6.5 | ||
Apple Ten Merger [Member] | Hotel Ground Lease [Member] | ||||
Lease Commitments (Details) [Line Items] | ||||
Number of Properties Subject to Ground Leases | 4 | |||
Number of Leases Assumed | 3 |
Lease Commitments (Details) -
Lease Commitments (Details) - Schedule of Future Minimum Rental Payments for Operating Leases $ in Thousands | Dec. 31, 2017USD ($) |
Schedule of Future Minimum Rental Payments for Operating Leases [Abstract] | |
2,018 | $ 6,318 |
2,019 | 6,600 |
2,020 | 6,772 |
2,021 | 6,957 |
2,022 | 7,117 |
Thereafter | 327,808 |
Total | $ 361,572 |
Hotel Contract Commitments (Det
Hotel Contract Commitments (Details) $ in Thousands | 12 Months Ended |
Dec. 31, 2017USD ($) | |
Hotels Under Contract [Member] | |
Hotel Contract Commitments (Details) [Line Items] | |
Purchase Contract Gross Purchase Price | $ 127,836 |
Deposit Assets | $ 1,503 |
Hotels Under Contract [Member] | |
Hotel Contract Commitments (Details) [Line Items] | |
Number of Hotels | 4 |
Purchase Contract Gross Purchase Price | $ 127,800 |
Hotels Under Contract [Member] | Hotels Already in Operation [Member] | |
Hotel Contract Commitments (Details) [Line Items] | |
Number of Hotels | 2 |
Purchase Contract Gross Purchase Price | $ 63,000 |
Deposit Assets | $ 1,000 |
Hotels Under Construction [Member] | Hotels Under Contract [Member] | |
Hotel Contract Commitments (Details) [Line Items] | |
Number of Hotels | 2 |
Hotel Construction, Time to Completion | The two remaining hotels are under construction and are planned to be completed and opened for business during 2018 |
Hotel Contract Commitments (De
Hotel Contract Commitments (Details) - Outstanding Contracts $ in Thousands | 12 Months Ended | |
Dec. 31, 2017USD ($) | ||
Hotel Contract Commitments (Details) - Outstanding Contracts [Line Items] | ||
Rooms | 30,322 | |
Hotels Under Contract [Member] | ||
Hotel Contract Commitments (Details) - Outstanding Contracts [Line Items] | ||
Rooms | 601 | |
Refundable Deposits | $ 1,503 | |
Gross Purchase Price | $ 127,836 | |
Hotels Under Contract [Member] | Hotels Already in Operation [Member] | Hampton Atlanta, GA [Member] | ||
Hotel Contract Commitments (Details) - Outstanding Contracts [Line Items] | ||
Brand | Hampton | |
Date of Purchase Contract | Dec. 22, 2017 | |
Rooms | 119 | |
Refundable Deposits | [1] | |
Gross Purchase Price | [1] | |
Hotels Under Contract [Member] | Hotels Already in Operation [Member] | Hampton Memphis, TN [Member] | ||
Hotel Contract Commitments (Details) - Outstanding Contracts [Line Items] | ||
Brand | Hampton | |
Date of Purchase Contract | Dec. 22, 2017 | |
Rooms | 144 | |
Refundable Deposits | [1] | |
Gross Purchase Price | [1] | |
Hotels Under Contract [Member] | Hotels Under Construction [Member] | Hampton Phoenix, AZ [Member] | ||
Hotel Contract Commitments (Details) - Outstanding Contracts [Line Items] | ||
Brand | Hampton | [2] |
Date of Purchase Contract | Oct. 25, 2016 | |
Rooms | 210 | |
Refundable Deposits | $ 500 | |
Gross Purchase Price | $ 44,100 | |
Hotels Under Contract [Member] | Hotels Under Construction [Member] | Home2 Suites Orlando, FL [Member] | ||
Hotel Contract Commitments (Details) - Outstanding Contracts [Line Items] | ||
Brand | Home2 Suites | [2] |
Date of Purchase Contract | Jan. 18, 2017 | |
Rooms | 128 | |
Refundable Deposits | $ 3 | |
Gross Purchase Price | $ 20,736 | |
[1] | These two hotels are included in one purchase contract with a total gross purchase price of $63.0 million and an initial deposit of $1.0 million. These amounts are included in the total gross purchase price and refundable deposits as indicated above. Closing on these hotels occurred in February 2018. | |
[2] | As of December 31, 2017, these hotels were under construction. The table shows the expected number of rooms upon hotel completion and the expected franchise brands. Assuming all conditions to closing are met, the purchases of these hotels are expected to occur during 2018. If the seller meets all of the conditions to closing, the Company is obligated to specifically perform under the contract. As the properties are under construction, at this time, the seller has not met all of the conditions to closing. |
Legal Proceedings (Details)
Legal Proceedings (Details) - USD ($) $ in Thousands | 1 Months Ended | 12 Months Ended | ||||
Jan. 31, 2018 | May 31, 2017 | Jan. 31, 2017 | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Legal Proceedings (Details) [Line Items] | ||||||
Transaction and Litigation Costs (Reimbursements) | $ (2,586) | $ 34,989 | $ 7,181 | |||
Settlement of the Apple Ten Merger Litigation [Member] | ||||||
Legal Proceedings (Details) [Line Items] | ||||||
Payments for Legal Settlements | $ 32,000 | |||||
Estimated Litigation Liability | 32,000 | |||||
Proceeds from Insurance Settlement, Operating Activities | $ 2,600 | $ 10,000 | ||||
Insurance Settlements Receivable | 10,000 | |||||
Transaction and Litigation Costs (Reimbursements) | $ (2,600) | (2,600) | 22,000 | |||
Settlement of the Apple Seven and Apple Eight Terminated DRIPs Litigation (Pending Approval by Court) [Member] | ||||||
Legal Proceedings (Details) [Line Items] | ||||||
Payments for Legal Settlements | $ 5,500 | |||||
Estimated Litigation Liability | $ 5,500 | 5,500 | ||||
Transaction and Litigation Costs (Reimbursements) | $ 5,500 |
Settlement Proceeds (Details)
Settlement Proceeds (Details) $ in Millions | 12 Months Ended |
Dec. 31, 2015USD ($) | |
Deepwater Horizon Economic and Property Damages Settlement Program Related to 2010 Gulf of Mexico Oil Spill [Member] | |
Settlement Proceeds (Details) [Line Items] | |
Proceeds from Legal Settlements | $ 1.8 |
Quarterly Financial Data (Una60
Quarterly Financial Data (Unaudited) (Details) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | 12 Months Ended | |||||
Dec. 31, 2017 | Jun. 30, 2017 | Sep. 30, 2016 | Dec. 31, 2015 | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Quarterly Financial Data (Unaudited) (Details) [Line Items] | |||||||
Gain (Loss) on Disposition of Assets | $ 16,295 | $ (153) | $ 15,286 | ||||
Earnings Per Share, Basic and Diluted | $ 0.82 | $ 0.76 | $ 0.65 | ||||
Impairment of Real Estate | $ 45,875 | $ 5,471 | $ 45,000 | ||||
Transaction and Litigation Costs (Reimbursements) | $ (2,586) | $ 34,989 | $ 7,181 | ||||
Real Estate Held and Used Impairment [Member] | Renaissance New York, NY [Member] | |||||||
Quarterly Financial Data (Unaudited) (Details) [Line Items] | |||||||
Earnings Per Share, Basic and Diluted | $ (0.17) | ||||||
Impairment of Real Estate | $ 38,000 | $ 45,000 | |||||
Costs Incurred to Defend And Settlement of the Apple Ten Merger Litigation [Member] | |||||||
Quarterly Financial Data (Unaudited) (Details) [Line Items] | |||||||
Earnings Per Share, Basic and Diluted | $ (0.18) | ||||||
Transaction and Litigation Costs (Reimbursements) | $ 33,800 | ||||||
Hotels Sold [Member] | Hilton Dallas, TX [Member] | |||||||
Quarterly Financial Data (Unaudited) (Details) [Line Items] | |||||||
Gain (Loss) on Disposition of Assets | $ 16,100 | ||||||
Earnings Per Share, Basic and Diluted | $ 0.07 |
Quarterly Financial Data (Una61
Quarterly Financial Data (Unaudited) (Details) - Schedule of Quarterly Financial Information - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2017 | Sep. 30, 2017 | Jun. 30, 2017 | Mar. 31, 2017 | Dec. 31, 2016 | Sep. 30, 2016 | Jun. 30, 2016 | Mar. 31, 2016 | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Quarterly Financial Data (Unaudited) (Details) - Schedule of Quarterly Financial Information [Line Items] | |||||||||||
Total revenue | $ 1,238,622 | $ 1,041,025 | $ 898,314 | ||||||||
Net income (loss) | 182,492 | 144,652 | 117,288 | ||||||||
Comprehensive income | $ 187,681 | $ 151,298 | $ 115,742 | ||||||||
Basic and diluted net income (loss) per common share (in Dollars per share) | $ 0.82 | $ 0.76 | $ 0.65 | ||||||||
First Quarter [Member] | |||||||||||
Quarterly Financial Data (Unaudited) (Details) - Schedule of Quarterly Financial Information [Line Items] | |||||||||||
Total revenue | $ 292,925 | $ 224,487 | |||||||||
Net income (loss) | 34,365 | 34,686 | |||||||||
Comprehensive income | $ 35,910 | $ 27,992 | |||||||||
Basic and diluted net income (loss) per common share (in Dollars per share) | $ 0.15 | $ 0.20 | |||||||||
Second Quarter [Member] | |||||||||||
Quarterly Financial Data (Unaudited) (Details) - Schedule of Quarterly Financial Information [Line Items] | |||||||||||
Total revenue | $ 331,704 | $ 257,636 | |||||||||
Net income (loss) | 87,606 | 54,718 | |||||||||
Comprehensive income | $ 86,431 | $ 49,217 | |||||||||
Basic and diluted net income (loss) per common share (in Dollars per share) | $ 0.39 | $ 0.31 | |||||||||
Third Quarter [Member] | |||||||||||
Quarterly Financial Data (Unaudited) (Details) - Schedule of Quarterly Financial Information [Line Items] | |||||||||||
Total revenue | $ 324,926 | $ 276,471 | |||||||||
Net income (loss) | 62,824 | 13,694 | |||||||||
Comprehensive income | $ 63,083 | $ 17,955 | |||||||||
Basic and diluted net income (loss) per common share (in Dollars per share) | $ 0.28 | $ 0.07 | |||||||||
Fourth Quarter [Member] | |||||||||||
Quarterly Financial Data (Unaudited) (Details) - Schedule of Quarterly Financial Information [Line Items] | |||||||||||
Total revenue | $ 289,067 | $ 282,431 | |||||||||
Net income (loss) | (2,303) | 41,554 | |||||||||
Comprehensive income | $ 2,257 | $ 56,134 | |||||||||
Basic and diluted net income (loss) per common share (in Dollars per share) | $ (0.01) | $ 0.19 |
Subsequent Events (Details)
Subsequent Events (Details) $ / shares in Units, $ in Thousands | Feb. 05, 2018USD ($) | Feb. 28, 2018USD ($)$ / shares | Jan. 31, 2018USD ($)$ / shares | Dec. 31, 2017USD ($)$ / shares | Dec. 31, 2016USD ($)$ / shares | Dec. 31, 2015USD ($)$ / shares |
Subsequent Events (Details) [Line Items] | ||||||
Payments of Ordinary Dividends, Common Stock | $ | $ 267,917 | $ 229,056 | $ 229,127 | |||
Common Stock, Dividends, Per Share, Cash Paid | $ 1.27 | |||||
Common Stock, Dividends, Per Share, Declared | $ 1.20 | $ 1.20 | ||||
Aggregate Number of Hotel Rooms | 30,322 | |||||
Subsequent Event [Member] | ||||||
Subsequent Events (Details) [Line Items] | ||||||
Payments of Ordinary Dividends, Common Stock | $ | $ 23,000 | $ 23,000 | ||||
Common Stock, Dividends, Per Share, Cash Paid | $ 0.10 | $ 0.10 | ||||
Common Stock, Dividends, Per Share, Declared | $ 0.10 | |||||
Dividends Payable, Date to be Paid | Mar. 15, 2018 | |||||
Subsequent Event [Member] | Hotel Acquisitions [Member] | Hampton Inn & Suites Atlanta, GA [Member] | ||||||
Subsequent Events (Details) [Line Items] | ||||||
Aggregate Number of Hotel Rooms | 119 | |||||
Subsequent Event [Member] | Hotel Acquisitions [Member] | Hampton Inn & Suites Memphis, TN [Member] | ||||||
Subsequent Events (Details) [Line Items] | ||||||
Aggregate Number of Hotel Rooms | 144 | |||||
Subsequent Event [Member] | Hotel Acquisitions [Member] | Hampton Inn & Suites Atlanta, GA and Memphis, TN [Member] | ||||||
Subsequent Events (Details) [Line Items] | ||||||
Acquisition Consideration Transferred | $ | $ 63,000 |
SCHEDULE III, Real Estate and63
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) $ in Billions | Feb. 26, 2015 | Dec. 31, 2017USD ($) | Dec. 31, 2016 | Dec. 31, 2014 |
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) [Line Items] | ||||
Land Ownership Description | Land is owned fee simple unless cost is $0, which means the property is subject to a ground lease. | |||
SEC Schedule III, Real Estate, Federal Income Tax Basis (in Dollars) | $ 5.2 | |||
Number of Hotels | 239 | |||
Hotels Held for Sale [Member] | ||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) [Line Items] | ||||
Number of Hotels | 1 | 19 | ||
Hotels Held for Sale and Subsequently Sold [Member] | ||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) [Line Items] | ||||
Number of Hotels | 18 |
SCHEDULE III, Real Estate and64
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation $ in Thousands | 12 Months Ended | ||||
Dec. 31, 2017USD ($) | Dec. 31, 2016USD ($) | Dec. 31, 2015USD ($) | Dec. 31, 2014USD ($) | ||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Total Gross Cost | $ 5,524,443 | $ 5,381,086 | $ 4,064,824 | $ 3,789,380 | |
Accumulated Depreciation | $ (731,284) | $ (557,597) | $ (423,057) | $ (296,559) | |
Number of Rooms | 30,322 | ||||
Embassy Suites Anchorage, AK [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
State | AK | ||||
Description | Embassy Suites | ||||
Encumbrances | $ 20,560 | ||||
Initial Cost, Land | [1] | 2,955 | |||
Initial Cost, Building, FF&E and Other | 39,053 | ||||
Subsequently Capitalized Building Improvements and FF&E | 4,103 | ||||
Total Gross Cost | [2] | 46,111 | |||
Accumulated Depreciation | $ (10,911) | ||||
Date of Construction | 2,008 | ||||
Date Acquired | Apr10 | ||||
Number of Rooms | 169 | ||||
Home2 Suites Anchorage, AK [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
State | AK | ||||
Description | Home2 Suites | ||||
Encumbrances | $ 0 | ||||
Initial Cost, Land | [1] | 2,683 | |||
Initial Cost, Building, FF&E and Other | 21,606 | ||||
Subsequently Capitalized Building Improvements and FF&E | 0 | ||||
Total Gross Cost | [2] | 24,289 | |||
Accumulated Depreciation | [2] | $ (64) | |||
Date of Construction | 2,015 | ||||
Date Acquired | Dec17 | ||||
Number of Rooms | 135 | ||||
Hilton Garden Inn Auburn, AL [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
State | AL | ||||
Description | Hilton Garden Inn | ||||
Encumbrances | $ 0 | ||||
Initial Cost, Land | [1] | 1,580 | |||
Initial Cost, Building, FF&E and Other | 9,659 | ||||
Subsequently Capitalized Building Improvements and FF&E | 223 | ||||
Total Gross Cost | [2] | 11,462 | |||
Accumulated Depreciation | $ (1,585) | ||||
Date of Construction | 2,001 | ||||
Date Acquired | Mar14 | ||||
Number of Rooms | 101 | ||||
Courtyard Birmingham, AL [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
State | AL | ||||
Description | Courtyard | ||||
Encumbrances | $ 0 | ||||
Initial Cost, Land | [1] | 2,310 | |||
Initial Cost, Building, FF&E and Other | 6,425 | ||||
Subsequently Capitalized Building Improvements and FF&E | 1,142 | ||||
Total Gross Cost | [2] | 9,877 | |||
Accumulated Depreciation | $ (1,015) | ||||
Date of Construction | 2,007 | ||||
Date Acquired | Mar14 | ||||
Number of Rooms | 84 | ||||
Hilton Garden Inn Birmingham, AL [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
State | AL | ||||
Description | [3] | Hilton Garden Inn | |||
Encumbrances | $ 0 | ||||
Initial Cost, Land | [1] | 3,425 | |||
Initial Cost, Building, FF&E and Other | 15,853 | ||||
Subsequently Capitalized Building Improvements and FF&E | 0 | ||||
Total Gross Cost | [2] | 19,278 | |||
Accumulated Depreciation | $ (204) | ||||
Date of Construction | 2,017 | ||||
Date Acquired | Sep17 | ||||
Number of Rooms | 104 | ||||
Home2 Suites Birmingham, AL [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
State | AL | ||||
Description | [3] | Home2 Suites | |||
Encumbrances | $ 0 | ||||
Initial Cost, Land | [1] | 3,491 | |||
Initial Cost, Building, FF&E and Other | 15,901 | ||||
Subsequently Capitalized Building Improvements and FF&E | 0 | ||||
Total Gross Cost | [2] | 19,392 | |||
Accumulated Depreciation | $ (196) | ||||
Date of Construction | 2,017 | ||||
Date Acquired | Sep17 | ||||
Number of Rooms | 106 | ||||
Homewood Suites Birmingham, AL [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
State | AL | ||||
Description | Homewood Suites | ||||
Encumbrances | $ 0 | ||||
Initial Cost, Land | [1] | 1,010 | |||
Initial Cost, Building, FF&E and Other | 12,981 | ||||
Subsequently Capitalized Building Improvements and FF&E | 1,730 | ||||
Total Gross Cost | [2] | 15,721 | |||
Accumulated Depreciation | $ (2,101) | ||||
Date of Construction | 2,005 | ||||
Date Acquired | Mar14 | ||||
Number of Rooms | 95 | ||||
Hilton Garden Inn Dothan, AL [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
State | AL | ||||
Description | Hilton Garden Inn | ||||
Encumbrances | $ 0 | ||||
Initial Cost, Land | [1] | 1,037 | |||
Initial Cost, Building, FF&E and Other | 10,581 | ||||
Subsequently Capitalized Building Improvements and FF&E | 182 | ||||
Total Gross Cost | [2] | 11,800 | |||
Accumulated Depreciation | $ (3,359) | ||||
Date of Construction | 2,009 | ||||
Date Acquired | Jun09 | ||||
Number of Rooms | 104 | ||||
Residence Inn Dothan, AL [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
State | AL | ||||
Description | Residence Inn | ||||
Encumbrances | $ 0 | ||||
Initial Cost, Land | [1] | 970 | |||
Initial Cost, Building, FF&E and Other | 13,185 | ||||
Subsequently Capitalized Building Improvements and FF&E | 822 | ||||
Total Gross Cost | [2] | 14,977 | |||
Accumulated Depreciation | $ (1,608) | ||||
Date of Construction | 2,008 | ||||
Date Acquired | Mar14 | ||||
Number of Rooms | 84 | ||||
Hampton Huntsville, AL [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
State | AL | ||||
Description | Hampton | ||||
Encumbrances | $ 0 | ||||
Initial Cost, Land | [1] | 550 | |||
Initial Cost, Building, FF&E and Other | 11,962 | ||||
Subsequently Capitalized Building Improvements and FF&E | 7 | ||||
Total Gross Cost | [2] | 12,519 | |||
Accumulated Depreciation | $ (555) | ||||
Date of Construction | 2,013 | ||||
Date Acquired | Sep16 | ||||
Number of Rooms | 98 | ||||
Hilton Garden Inn Huntsville, AL [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
State | AL | ||||
Description | Hilton Garden Inn | ||||
Encumbrances | $ 0 | ||||
Initial Cost, Land | [1] | 890 | |||
Initial Cost, Building, FF&E and Other | 11,227 | ||||
Subsequently Capitalized Building Improvements and FF&E | 268 | ||||
Total Gross Cost | [2] | 12,385 | |||
Accumulated Depreciation | $ (1,623) | ||||
Date of Construction | 2,005 | ||||
Date Acquired | Mar14 | ||||
Number of Rooms | 101 | ||||
Home2 Suites Huntsville, AL [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
State | AL | ||||
Description | Home2 Suites | ||||
Encumbrances | $ 0 | ||||
Initial Cost, Land | [1] | 490 | |||
Initial Cost, Building, FF&E and Other | 10,840 | ||||
Subsequently Capitalized Building Improvements and FF&E | 5 | ||||
Total Gross Cost | [2] | 11,335 | |||
Accumulated Depreciation | $ (497) | ||||
Date of Construction | 2,013 | ||||
Date Acquired | Sep16 | ||||
Number of Rooms | 77 | ||||
Homewood Suites Huntsville, AL [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
State | AL | ||||
Description | Homewood Suites | ||||
Encumbrances | $ 7,483 | ||||
Initial Cost, Land | [1] | 210 | |||
Initial Cost, Building, FF&E and Other | 15,654 | ||||
Subsequently Capitalized Building Improvements and FF&E | 1,782 | ||||
Total Gross Cost | [2] | 17,646 | |||
Accumulated Depreciation | $ (2,285) | ||||
Date of Construction | 2,006 | ||||
Date Acquired | Mar14 | ||||
Number of Rooms | 107 | ||||
Hampton Mobile, AL [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
State | AL | ||||
Description | Hampton | ||||
Encumbrances | $ 0 | ||||
Initial Cost, Land | [1] | 0 | |||
Initial Cost, Building, FF&E and Other | 11,452 | ||||
Subsequently Capitalized Building Improvements and FF&E | 231 | ||||
Total Gross Cost | [2] | 11,683 | |||
Accumulated Depreciation | $ (531) | ||||
Date of Construction | 2,006 | ||||
Date Acquired | Sep16 | ||||
Number of Rooms | 101 | ||||
Hilton Garden Inn Montgomery, AL [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
State | AL | ||||
Description | Hilton Garden Inn | ||||
Encumbrances | $ 0 | ||||
Initial Cost, Land | [1] | 2,640 | |||
Initial Cost, Building, FF&E and Other | 12,315 | ||||
Subsequently Capitalized Building Improvements and FF&E | 285 | ||||
Total Gross Cost | [2] | 15,240 | |||
Accumulated Depreciation | $ (1,858) | ||||
Date of Construction | 2,003 | ||||
Date Acquired | Mar14 | ||||
Number of Rooms | 97 | ||||
Homewood Suites Montgomery, AL [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
State | AL | ||||
Description | Homewood Suites | ||||
Encumbrances | $ 0 | ||||
Initial Cost, Land | [1] | 1,760 | |||
Initial Cost, Building, FF&E and Other | 10,818 | ||||
Subsequently Capitalized Building Improvements and FF&E | 296 | ||||
Total Gross Cost | [2] | 12,874 | |||
Accumulated Depreciation | $ (1,854) | ||||
Date of Construction | 2,004 | ||||
Date Acquired | Mar14 | ||||
Number of Rooms | 91 | ||||
Courtyard Prattville, AL [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
State | AL | ||||
Description | Courtyard | ||||
Encumbrances | $ 5,943 | ||||
Initial Cost, Land | [1] | 2,050 | |||
Initial Cost, Building, FF&E and Other | 9,101 | ||||
Subsequently Capitalized Building Improvements and FF&E | 922 | ||||
Total Gross Cost | [2] | 12,073 | |||
Accumulated Depreciation | $ (1,490) | ||||
Date of Construction | 2,007 | ||||
Date Acquired | Mar14 | ||||
Number of Rooms | 84 | ||||
Hampton Rogers, AR [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
State | AR | ||||
Description | Hampton | ||||
Encumbrances | $ 0 | ||||
Initial Cost, Land | [1] | 961 | |||
Initial Cost, Building, FF&E and Other | 8,483 | ||||
Subsequently Capitalized Building Improvements and FF&E | 875 | ||||
Total Gross Cost | [2] | 10,319 | |||
Accumulated Depreciation | $ (2,571) | ||||
Date of Construction | 1,998 | ||||
Date Acquired | Aug10 | ||||
Number of Rooms | 122 | ||||
Homewood Suites Rogers, AR [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
State | AR | ||||
Description | Homewood Suites | ||||
Encumbrances | $ 0 | ||||
Initial Cost, Land | [1] | 1,375 | |||
Initial Cost, Building, FF&E and Other | 9,514 | ||||
Subsequently Capitalized Building Improvements and FF&E | 2,226 | ||||
Total Gross Cost | [2] | 13,115 | |||
Accumulated Depreciation | $ (3,791) | ||||
Date of Construction | 2,006 | ||||
Date Acquired | Apr10 | ||||
Number of Rooms | 126 | ||||
Residence Inn Rogers, AR [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
State | AR | ||||
Description | Residence Inn | ||||
Encumbrances | $ 0 | ||||
Initial Cost, Land | [1] | 1,130 | |||
Initial Cost, Building, FF&E and Other | 12,417 | ||||
Subsequently Capitalized Building Improvements and FF&E | 332 | ||||
Total Gross Cost | [2] | 13,879 | |||
Accumulated Depreciation | $ (1,831) | ||||
Date of Construction | 2,003 | ||||
Date Acquired | Mar14 | ||||
Number of Rooms | 88 | ||||
Residence Inn Springdale, AR [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
State | AR | ||||
Description | Residence Inn | ||||
Encumbrances | $ 0 | ||||
Initial Cost, Land | [1] | 330 | |||
Initial Cost, Building, FF&E and Other | 8,651 | ||||
Subsequently Capitalized Building Improvements and FF&E | 315 | ||||
Total Gross Cost | [2] | 9,296 | |||
Accumulated Depreciation | $ (1,080) | ||||
Date of Construction | 2,001 | ||||
Date Acquired | Mar14 | ||||
Number of Rooms | 72 | ||||
Courtyard Chandler, AZ [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
State | AZ | ||||
Description | Courtyard | ||||
Encumbrances | $ 0 | ||||
Initial Cost, Land | [1] | 1,061 | |||
Initial Cost, Building, FF&E and Other | 16,008 | ||||
Subsequently Capitalized Building Improvements and FF&E | 1,540 | ||||
Total Gross Cost | [2] | 18,609 | |||
Accumulated Depreciation | $ (4,171) | ||||
Date of Construction | 2,009 | ||||
Date Acquired | Nov10 | ||||
Number of Rooms | 150 | ||||
Fairfield Inn & Suites Chandler, AZ [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
State | AZ | ||||
Description | Fairfield Inn & Suites | ||||
Encumbrances | $ 0 | ||||
Initial Cost, Land | [1] | 778 | |||
Initial Cost, Building, FF&E and Other | 11,272 | ||||
Subsequently Capitalized Building Improvements and FF&E | 978 | ||||
Total Gross Cost | [2] | 13,028 | |||
Accumulated Depreciation | $ (2,849) | ||||
Date of Construction | 2,009 | ||||
Date Acquired | Nov10 | ||||
Number of Rooms | 110 | ||||
Courtyard Phoenix, AZ [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
State | AZ | ||||
Description | Courtyard | ||||
Encumbrances | $ 0 | ||||
Initial Cost, Land | [1] | 1,413 | |||
Initial Cost, Building, FF&E and Other | 14,669 | ||||
Subsequently Capitalized Building Improvements and FF&E | 2,174 | ||||
Total Gross Cost | [2] | 18,256 | |||
Accumulated Depreciation | $ (4,570) | ||||
Date of Construction | 2,007 | ||||
Date Acquired | Nov10 | ||||
Number of Rooms | 164 | ||||
Courtyard Phoenix, AZ [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
State | AZ | ||||
Description | Courtyard | ||||
Encumbrances | $ 0 | ||||
Initial Cost, Land | [1] | 1,730 | |||
Initial Cost, Building, FF&E and Other | 17,401 | ||||
Subsequently Capitalized Building Improvements and FF&E | 95 | ||||
Total Gross Cost | [2] | 19,226 | |||
Accumulated Depreciation | $ (795) | ||||
Date of Construction | 2,008 | ||||
Date Acquired | Sep16 | ||||
Number of Rooms | 127 | ||||
Hampton Phoenix, AZ [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
State | AZ | ||||
Description | Hampton | ||||
Encumbrances | $ 0 | ||||
Initial Cost, Land | [1] | 0 | |||
Initial Cost, Building, FF&E and Other | 15,209 | ||||
Subsequently Capitalized Building Improvements and FF&E | 137 | ||||
Total Gross Cost | [2] | 15,346 | |||
Accumulated Depreciation | $ (739) | ||||
Date of Construction | 2,008 | ||||
Date Acquired | Sep16 | ||||
Number of Rooms | 125 | ||||
Homewood Suites Phoenix, AZ [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
State | AZ | ||||
Description | Homewood Suites | ||||
Encumbrances | $ 0 | ||||
Initial Cost, Land | [1] | 0 | |||
Initial Cost, Building, FF&E and Other | 18,907 | ||||
Subsequently Capitalized Building Improvements and FF&E | 79 | ||||
Total Gross Cost | [2] | 18,986 | |||
Accumulated Depreciation | $ (950) | ||||
Date of Construction | 2,008 | ||||
Date Acquired | Sep16 | ||||
Number of Rooms | 134 | ||||
Residence Inn Phoenix, AZ [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
State | AZ | ||||
Description | Residence Inn | ||||
Encumbrances | $ 0 | ||||
Initial Cost, Land | [1] | 1,111 | |||
Initial Cost, Building, FF&E and Other | 12,953 | ||||
Subsequently Capitalized Building Improvements and FF&E | 1,616 | ||||
Total Gross Cost | [2] | 15,680 | |||
Accumulated Depreciation | $ (3,779) | ||||
Date of Construction | 2,008 | ||||
Date Acquired | Nov10 | ||||
Number of Rooms | 129 | ||||
Hilton Garden Inn Scottsdale, AZ [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
State | AZ | ||||
Description | Hilton Garden Inn | ||||
Encumbrances | $ 0 | ||||
Initial Cost, Land | [1] | 6,000 | |||
Initial Cost, Building, FF&E and Other | 26,861 | ||||
Subsequently Capitalized Building Improvements and FF&E | 237 | ||||
Total Gross Cost | [2] | 33,098 | |||
Accumulated Depreciation | $ (1,087) | ||||
Date of Construction | 2,005 | ||||
Date Acquired | Sep16 | ||||
Number of Rooms | 122 | ||||
Hilton Garden Inn Tucson, AZ [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
State | AZ | ||||
Description | Hilton Garden Inn | ||||
Encumbrances | $ 0 | ||||
Initial Cost, Land | [1] | 1,005 | |||
Initial Cost, Building, FF&E and Other | 17,925 | ||||
Subsequently Capitalized Building Improvements and FF&E | 1,829 | ||||
Total Gross Cost | [2] | 20,759 | |||
Accumulated Depreciation | $ (5,756) | ||||
Date of Construction | 2,008 | ||||
Date Acquired | Jul08 | ||||
Number of Rooms | 125 | ||||
Residence Inn Tucson, AZ [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
State | AZ | ||||
Description | Residence Inn | ||||
Encumbrances | $ 0 | ||||
Initial Cost, Land | [1] | 2,080 | |||
Initial Cost, Building, FF&E and Other | 12,424 | ||||
Subsequently Capitalized Building Improvements and FF&E | 1,494 | ||||
Total Gross Cost | [2] | 15,998 | |||
Accumulated Depreciation | $ (1,766) | ||||
Date of Construction | 2,008 | ||||
Date Acquired | Mar14 | ||||
Number of Rooms | 124 | ||||
Towne Place Suites Tucson, AZ [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
State | AZ | ||||
Description | TownePlace Suites | ||||
Encumbrances | $ 0 | ||||
Initial Cost, Land | [1] | 992 | |||
Initial Cost, Building, FF&E and Other | 14,543 | ||||
Subsequently Capitalized Building Improvements and FF&E | 109 | ||||
Total Gross Cost | [2] | 15,644 | |||
Accumulated Depreciation | $ (3,230) | ||||
Date of Construction | 2,011 | ||||
Date Acquired | Oct11 | ||||
Number of Rooms | 124 | ||||
Homewood Suites Agoura Hills, CA [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
State | CA | ||||
Description | Homewood Suites | ||||
Encumbrances | $ 0 | ||||
Initial Cost, Land | [1] | 3,430 | |||
Initial Cost, Building, FF&E and Other | 21,290 | ||||
Subsequently Capitalized Building Improvements and FF&E | 2,179 | ||||
Total Gross Cost | [2] | 26,899 | |||
Accumulated Depreciation | $ (3,302) | ||||
Date of Construction | 2,007 | ||||
Date Acquired | Mar14 | ||||
Number of Rooms | 125 | ||||
Courtyard Burbank, CA [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
State | CA | ||||
Description | Courtyard | ||||
Encumbrances | $ 24,917 | ||||
Initial Cost, Land | [1] | 12,916 | |||
Initial Cost, Building, FF&E and Other | 41,218 | ||||
Subsequently Capitalized Building Improvements and FF&E | 422 | ||||
Total Gross Cost | [2] | 54,556 | |||
Accumulated Depreciation | $ (3,297) | ||||
Date of Construction | 2,002 | ||||
Date Acquired | Aug15 | ||||
Number of Rooms | 190 | ||||
Residence Inn Burbank, CA [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
State | CA | ||||
Description | Residence Inn | ||||
Encumbrances | $ 0 | ||||
Initial Cost, Land | [1] | 32,270 | |||
Initial Cost, Building, FF&E and Other | 41,559 | ||||
Subsequently Capitalized Building Improvements and FF&E | 2,406 | ||||
Total Gross Cost | [2] | 76,235 | |||
Accumulated Depreciation | $ (5,606) | ||||
Date of Construction | 2,007 | ||||
Date Acquired | Mar14 | ||||
Number of Rooms | 166 | ||||
Spring Hill Suites Burbank, CA [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
State | CA | ||||
Description | SpringHill Suites | ||||
Encumbrances | $ 0 | ||||
Initial Cost, Land | [1] | 10,734 | |||
Initial Cost, Building, FF&E and Other | 49,181 | ||||
Subsequently Capitalized Building Improvements and FF&E | 38 | ||||
Total Gross Cost | [2] | 59,953 | |||
Accumulated Depreciation | $ (3,844) | ||||
Date of Construction | 2,015 | ||||
Date Acquired | Jul15 | ||||
Number of Rooms | 170 | ||||
Hampton Clovis, CA [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
State | CA | ||||
Description | Hampton | ||||
Encumbrances | $ 0 | ||||
Initial Cost, Land | [1] | 1,287 | |||
Initial Cost, Building, FF&E and Other | 9,888 | ||||
Subsequently Capitalized Building Improvements and FF&E | 865 | ||||
Total Gross Cost | [2] | 12,040 | |||
Accumulated Depreciation | $ (2,903) | ||||
Date of Construction | 2,009 | ||||
Date Acquired | Jul09 | ||||
Number of Rooms | 86 | ||||
Homewood Suites Clovis, CA [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
State | CA | ||||
Description | Homewood Suites | ||||
Encumbrances | $ 0 | ||||
Initial Cost, Land | [1] | 1,500 | |||
Initial Cost, Building, FF&E and Other | 10,970 | ||||
Subsequently Capitalized Building Improvements and FF&E | 96 | ||||
Total Gross Cost | [2] | 12,566 | |||
Accumulated Depreciation | $ (3,042) | ||||
Date of Construction | 2,010 | ||||
Date Acquired | Feb10 | ||||
Number of Rooms | 83 | ||||
Courtyard Cypress, CA [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
State | CA | ||||
Description | Courtyard | ||||
Encumbrances | $ 0 | ||||
Initial Cost, Land | [1] | 4,410 | |||
Initial Cost, Building, FF&E and Other | 35,033 | ||||
Subsequently Capitalized Building Improvements and FF&E | 685 | ||||
Total Gross Cost | [2] | 40,128 | |||
Accumulated Depreciation | $ (4,825) | ||||
Date of Construction | 1,988 | ||||
Date Acquired | Mar14 | ||||
Number of Rooms | 180 | ||||
Hampton Cypress, CA [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
State | CA | ||||
Description | Hampton | ||||
Encumbrances | $ 0 | ||||
Initial Cost, Land | [1] | 3,209 | |||
Initial Cost, Building, FF&E and Other | 16,749 | ||||
Subsequently Capitalized Building Improvements and FF&E | 1,965 | ||||
Total Gross Cost | [2] | 21,923 | |||
Accumulated Depreciation | $ (1,583) | ||||
Date of Construction | 2,006 | ||||
Date Acquired | Jun15 | ||||
Number of Rooms | 110 | ||||
Courtyard Oceanside, CA [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
State | CA | ||||
Description | Courtyard | ||||
Encumbrances | $ 13,332 | ||||
Initial Cost, Land | [1] | 3,080 | |||
Initial Cost, Building, FF&E and Other | 25,769 | ||||
Subsequently Capitalized Building Improvements and FF&E | 146 | ||||
Total Gross Cost | [2] | 28,995 | |||
Accumulated Depreciation | $ (1,047) | ||||
Date of Construction | 2,011 | ||||
Date Acquired | Sep16 | ||||
Number of Rooms | 142 | ||||
Residence Inn Oceanside, CA [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
State | CA | ||||
Description | Residence Inn | ||||
Encumbrances | $ 0 | ||||
Initial Cost, Land | [1] | 7,790 | |||
Initial Cost, Building, FF&E and Other | 24,048 | ||||
Subsequently Capitalized Building Improvements and FF&E | 1,649 | ||||
Total Gross Cost | [2] | 33,487 | |||
Accumulated Depreciation | $ (3,294) | ||||
Date of Construction | 2,007 | ||||
Date Acquired | Mar14 | ||||
Number of Rooms | 125 | ||||
Courtyard Rancho Bernardo / San Diego, CA [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
State | CA | ||||
Description | Courtyard | ||||
Encumbrances | $ 13,692 | ||||
Initial Cost, Land | [1] | 16,380 | |||
Initial Cost, Building, FF&E and Other | 28,952 | ||||
Subsequently Capitalized Building Improvements and FF&E | 480 | ||||
Total Gross Cost | [2] | 45,812 | |||
Accumulated Depreciation | $ (4,113) | ||||
Date of Construction | 1,987 | ||||
Date Acquired | Mar14 | ||||
Number of Rooms | 210 | ||||
Hilton Garden Inn Sacramento, CA [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
State | CA | ||||
Description | Hilton Garden Inn | ||||
Encumbrances | $ 0 | ||||
Initial Cost, Land | [1] | 5,920 | |||
Initial Cost, Building, FF&E and Other | 21,515 | ||||
Subsequently Capitalized Building Improvements and FF&E | 3,216 | ||||
Total Gross Cost | [2] | 30,651 | |||
Accumulated Depreciation | $ (3,454) | ||||
Date of Construction | 1,999 | ||||
Date Acquired | Mar14 | ||||
Number of Rooms | 153 | ||||
Residence Inn San Bernardino, CA [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
State | CA | ||||
Description | Residence Inn | ||||
Encumbrances | $ 0 | ||||
Initial Cost, Land | [1] | 1,490 | |||
Initial Cost, Building, FF&E and Other | 13,662 | ||||
Subsequently Capitalized Building Improvements and FF&E | 1,708 | ||||
Total Gross Cost | [2] | 16,860 | |||
Accumulated Depreciation | $ (3,659) | ||||
Date of Construction | 2,006 | ||||
Date Acquired | Feb11 | ||||
Number of Rooms | 95 | ||||
Courtyard San Diego, CA [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
State | CA | ||||
Description | Courtyard | ||||
Encumbrances | $ 24,828 | ||||
Initial Cost, Land | [1] | 11,268 | |||
Initial Cost, Building, FF&E and Other | 44,851 | ||||
Subsequently Capitalized Building Improvements and FF&E | 583 | ||||
Total Gross Cost | [2] | 56,702 | |||
Accumulated Depreciation | $ (3,620) | ||||
Date of Construction | 2,002 | ||||
Date Acquired | Sep15 | ||||
Number of Rooms | 245 | ||||
Hampton San Diego, CA [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
State | CA | ||||
Description | Hampton | ||||
Encumbrances | $ 18,483 | ||||
Initial Cost, Land | [1] | 13,570 | |||
Initial Cost, Building, FF&E and Other | 36,644 | ||||
Subsequently Capitalized Building Improvements and FF&E | 2,657 | ||||
Total Gross Cost | [2] | 52,871 | |||
Accumulated Depreciation | $ (4,750) | ||||
Date of Construction | 2,001 | ||||
Date Acquired | Mar14 | ||||
Number of Rooms | 177 | ||||
Hilton Garden Inn San Diego, CA [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
State | CA | ||||
Description | Hilton Garden Inn | ||||
Encumbrances | $ 0 | ||||
Initial Cost, Land | [1] | 8,020 | |||
Initial Cost, Building, FF&E and Other | 29,151 | ||||
Subsequently Capitalized Building Improvements and FF&E | 358 | ||||
Total Gross Cost | [2] | 37,529 | |||
Accumulated Depreciation | $ (4,022) | ||||
Date of Construction | 2,004 | ||||
Date Acquired | Mar14 | ||||
Number of Rooms | 200 | ||||
Residence Inn San Diego, CA [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
State | CA | ||||
Description | Residence Inn | ||||
Encumbrances | $ 16,733 | ||||
Initial Cost, Land | [1] | 22,400 | |||
Initial Cost, Building, FF&E and Other | 20,640 | ||||
Subsequently Capitalized Building Improvements and FF&E | 309 | ||||
Total Gross Cost | [2] | 43,349 | |||
Accumulated Depreciation | $ (3,239) | ||||
Date of Construction | 1,999 | ||||
Date Acquired | Mar14 | ||||
Number of Rooms | 121 | ||||
Homewood Suites San Jose, CA [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
State | CA | ||||
Description | Homewood Suites | ||||
Encumbrances | $ 30,000 | ||||
Initial Cost, Land | [1] | 12,860 | |||
Initial Cost, Building, FF&E and Other | 28,084 | ||||
Subsequently Capitalized Building Improvements and FF&E | 4,980 | ||||
Total Gross Cost | [2] | 45,924 | |||
Accumulated Depreciation | $ (5,530) | ||||
Date of Construction | 1,991 | ||||
Date Acquired | Mar14 | ||||
Number of Rooms | 140 | ||||
Residence Inn San Juan Capistrano, CA [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
State | CA | ||||
Description | Residence Inn | ||||
Encumbrances | $ 15,774 | ||||
Initial Cost, Land | [1] | 0 | |||
Initial Cost, Building, FF&E and Other | 32,292 | ||||
Subsequently Capitalized Building Improvements and FF&E | 44 | ||||
Total Gross Cost | [2] | 32,336 | |||
Accumulated Depreciation | $ (1,384) | ||||
Date of Construction | 2,012 | ||||
Date Acquired | Sep16 | ||||
Number of Rooms | 130 | ||||
Courtyard Santa Ana, CA [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
State | CA | ||||
Description | Courtyard | ||||
Encumbrances | $ 0 | ||||
Initial Cost, Land | [1] | 3,082 | |||
Initial Cost, Building, FF&E and Other | 21,051 | ||||
Subsequently Capitalized Building Improvements and FF&E | 147 | ||||
Total Gross Cost | [2] | 24,280 | |||
Accumulated Depreciation | $ (4,886) | ||||
Date of Construction | 2,011 | ||||
Date Acquired | May11 | ||||
Number of Rooms | 155 | ||||
Courtyard Santa Clarita, CA [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
State | CA | ||||
Description | Courtyard | ||||
Encumbrances | $ 0 | ||||
Initial Cost, Land | [1] | 4,568 | |||
Initial Cost, Building, FF&E and Other | 18,721 | ||||
Subsequently Capitalized Building Improvements and FF&E | 2,246 | ||||
Total Gross Cost | [2] | 25,535 | |||
Accumulated Depreciation | $ (6,560) | ||||
Date of Construction | 2,007 | ||||
Date Acquired | Sep08 | ||||
Number of Rooms | 140 | ||||
Fairfield Inn Santa Clarita, CA [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
State | CA | ||||
Description | Fairfield Inn | ||||
Encumbrances | $ 0 | ||||
Initial Cost, Land | [1] | 1,864 | |||
Initial Cost, Building, FF&E and Other | 7,753 | ||||
Subsequently Capitalized Building Improvements and FF&E | 1,834 | ||||
Total Gross Cost | [2] | 11,451 | |||
Accumulated Depreciation | $ (3,088) | ||||
Date of Construction | 1,997 | ||||
Date Acquired | Oct08 | ||||
Number of Rooms | 66 | ||||
Hampton Santa Clarita, CA [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
State | CA | ||||
Description | Hampton | ||||
Encumbrances | $ 0 | ||||
Initial Cost, Land | [1] | 1,812 | |||
Initial Cost, Building, FF&E and Other | 15,761 | ||||
Subsequently Capitalized Building Improvements and FF&E | 1,999 | ||||
Total Gross Cost | [2] | 19,572 | |||
Accumulated Depreciation | $ (5,977) | ||||
Date of Construction | 1,988 | ||||
Date Acquired | Oct08 | ||||
Number of Rooms | 128 | ||||
Residence Inn Santa Clarita, CA [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
State | CA | ||||
Description | Residence Inn | ||||
Encumbrances | $ 0 | ||||
Initial Cost, Land | [1] | 2,539 | |||
Initial Cost, Building, FF&E and Other | 14,493 | ||||
Subsequently Capitalized Building Improvements and FF&E | 3,917 | ||||
Total Gross Cost | [2] | 20,949 | |||
Accumulated Depreciation | $ (6,153) | ||||
Date of Construction | 1,997 | ||||
Date Acquired | Oct08 | ||||
Number of Rooms | 90 | ||||
Hampton Tulare,CA [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
State | CA | ||||
Description | Hampton | ||||
Encumbrances | $ 0 | ||||
Initial Cost, Land | [1] | 400 | |||
Initial Cost, Building, FF&E and Other | 9,194 | ||||
Subsequently Capitalized Building Improvements and FF&E | 1,061 | ||||
Total Gross Cost | [2] | 10,655 | |||
Accumulated Depreciation | $ (1,437) | ||||
Date of Construction | 2,008 | ||||
Date Acquired | Mar14 | ||||
Number of Rooms | 86 | ||||
Fairfield Inn & Suites Tustin, CA [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
State | CA | ||||
Description | Fairfield Inn & Suites | ||||
Encumbrances | $ 0 | ||||
Initial Cost, Land | [1] | 7,700 | |||
Initial Cost, Building, FF&E and Other | 26,580 | ||||
Subsequently Capitalized Building Improvements and FF&E | 68 | ||||
Total Gross Cost | [2] | 34,348 | |||
Accumulated Depreciation | $ (1,132) | ||||
Date of Construction | 2,013 | ||||
Date Acquired | Sep16 | ||||
Number of Rooms | 145 | ||||
Residence Inn Tustin, CA [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
State | CA | ||||
Description | Residence Inn | ||||
Encumbrances | $ 0 | ||||
Initial Cost, Land | [1] | 11,680 | |||
Initial Cost, Building, FF&E and Other | 33,645 | ||||
Subsequently Capitalized Building Improvements and FF&E | 70 | ||||
Total Gross Cost | [2] | 45,395 | |||
Accumulated Depreciation | $ (1,477) | ||||
Date of Construction | 2,013 | ||||
Date Acquired | Sep16 | ||||
Number of Rooms | 149 | ||||
Hampton Colorado Springs, CO [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
State | CO | ||||
Description | Hampton | ||||
Encumbrances | $ 7,754 | ||||
Initial Cost, Land | [1] | 1,780 | |||
Initial Cost, Building, FF&E and Other | 15,860 | ||||
Subsequently Capitalized Building Improvements and FF&E | 29 | ||||
Total Gross Cost | [2] | 17,669 | |||
Accumulated Depreciation | $ (740) | ||||
Date of Construction | 2,008 | ||||
Date Acquired | Sep16 | ||||
Number of Rooms | 101 | ||||
Hilton Garden Inn Denver, CO [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
State | CO | ||||
Description | Hilton Garden Inn | ||||
Encumbrances | $ 33,046 | ||||
Initial Cost, Land | [1] | 9,940 | |||
Initial Cost, Building, FF&E and Other | 57,595 | ||||
Subsequently Capitalized Building Improvements and FF&E | 131 | ||||
Total Gross Cost | [2] | 67,666 | |||
Accumulated Depreciation | $ (2,618) | ||||
Date of Construction | 2,007 | ||||
Date Acquired | Sep16 | ||||
Number of Rooms | 221 | ||||
Hilton Garden Inn Highlands Ranch, CO [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
State | CO | ||||
Description | Hilton Garden Inn | ||||
Encumbrances | $ 0 | ||||
Initial Cost, Land | [1] | 5,480 | |||
Initial Cost, Building, FF&E and Other | 20,465 | ||||
Subsequently Capitalized Building Improvements and FF&E | 246 | ||||
Total Gross Cost | [2] | 26,191 | |||
Accumulated Depreciation | $ (2,654) | ||||
Date of Construction | 2,006 | ||||
Date Acquired | Mar14 | ||||
Number of Rooms | 128 | ||||
Residence Inn Highlands Ranch, CO [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
State | CO | ||||
Description | Residence Inn | ||||
Encumbrances | $ 0 | ||||
Initial Cost, Land | [1] | 5,350 | |||
Initial Cost, Building, FF&E and Other | 19,167 | ||||
Subsequently Capitalized Building Improvements and FF&E | 2,814 | ||||
Total Gross Cost | [2] | 27,331 | |||
Accumulated Depreciation | $ (3,286) | ||||
Date of Construction | 1,996 | ||||
Date Acquired | Mar14 | ||||
Number of Rooms | 117 | ||||
Hilton Garden Inn Boca Raton, FL [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
State | FL | ||||
Description | Hilton Garden Inn | ||||
Encumbrances | $ 0 | ||||
Initial Cost, Land | [1] | 7,220 | |||
Initial Cost, Building, FF&E and Other | 22,177 | ||||
Subsequently Capitalized Building Improvements and FF&E | 344 | ||||
Total Gross Cost | [2] | 29,741 | |||
Accumulated Depreciation | $ (1,012) | ||||
Date of Construction | 2,002 | ||||
Date Acquired | Sep16 | ||||
Number of Rooms | 149 | ||||
Homewood Suites Cape Canaveral, FL [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
State | FL | ||||
Description | Homewood Suites | ||||
Encumbrances | $ 0 | ||||
Initial Cost, Land | [1] | 2,780 | |||
Initial Cost, Building, FF&E and Other | 23,967 | ||||
Subsequently Capitalized Building Improvements and FF&E | 32 | ||||
Total Gross Cost | [2] | 26,779 | |||
Accumulated Depreciation | $ (1,219) | ||||
Date of Construction | 2,016 | ||||
Date Acquired | Sep16 | ||||
Number of Rooms | 153 | ||||
Hampton Inn Fort Lauderdale, FL [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
State | FL | ||||
Description | Hampton | ||||
Encumbrances | $ 0 | ||||
Initial Cost, Land | [1] | 2,235 | |||
Initial Cost, Building, FF&E and Other | 17,590 | ||||
Subsequently Capitalized Building Improvements and FF&E | 2,880 | ||||
Total Gross Cost | [2] | 22,705 | |||
Accumulated Depreciation | $ (5,810) | ||||
Date of Construction | 2,001 | ||||
Date Acquired | Dec08 | ||||
Number of Rooms | 109 | ||||
Hampton Inn Fort Lauderdale, FL [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
State | FL | ||||
Description | Hampton | ||||
Encumbrances | $ 0 | ||||
Initial Cost, Land | [1] | 1,793 | |||
Initial Cost, Building, FF&E and Other | 21,357 | ||||
Subsequently Capitalized Building Improvements and FF&E | 4,405 | ||||
Total Gross Cost | [2] | 27,555 | |||
Accumulated Depreciation | $ (2,424) | ||||
Date of Construction | 2,002 | ||||
Date Acquired | Jun15 | ||||
Number of Rooms | 156 | ||||
Residence Inn Fort Lauderdale, FL [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
State | FL | ||||
Description | Residence Inn | ||||
Encumbrances | $ 0 | ||||
Initial Cost, Land | [1] | 5,760 | |||
Initial Cost, Building, FF&E and Other | 26,727 | ||||
Subsequently Capitalized Building Improvements and FF&E | 0 | ||||
Total Gross Cost | [2] | 32,487 | |||
Accumulated Depreciation | $ (1,227) | ||||
Date of Construction | 2,014 | ||||
Date Acquired | Sep16 | ||||
Number of Rooms | 156 | ||||
Hilton Garden Inn Gainesville, FL [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
State | FL | ||||
Description | Hilton Garden Inn | ||||
Encumbrances | $ 0 | ||||
Initial Cost, Land | [1] | 1,300 | |||
Initial Cost, Building, FF&E and Other | 17,322 | ||||
Subsequently Capitalized Building Improvements and FF&E | 109 | ||||
Total Gross Cost | [2] | 18,731 | |||
Accumulated Depreciation | $ (758) | ||||
Date of Construction | 2,007 | ||||
Date Acquired | Sep16 | ||||
Number of Rooms | 104 | ||||
Homewood Suites Gainesville, FL [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
State | FL | ||||
Description | Homewood Suites | ||||
Encumbrances | $ 0 | ||||
Initial Cost, Land | [1] | 1,740 | |||
Initial Cost, Building, FF&E and Other | 16,329 | ||||
Subsequently Capitalized Building Improvements and FF&E | 51 | ||||
Total Gross Cost | [2] | 18,120 | |||
Accumulated Depreciation | $ (772) | ||||
Date of Construction | 2,005 | ||||
Date Acquired | Sep16 | ||||
Number of Rooms | 103 | ||||
Homewood Suites Jacksonville, FL [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
State | FL | ||||
Description | Homewood Suites | ||||
Encumbrances | $ 0 | ||||
Initial Cost, Land | [1] | 9,480 | |||
Initial Cost, Building, FF&E and Other | 21,247 | ||||
Subsequently Capitalized Building Improvements and FF&E | 1,914 | ||||
Total Gross Cost | [2] | 32,641 | |||
Accumulated Depreciation | $ (3,749) | ||||
Date of Construction | 2,005 | ||||
Date Acquired | Mar14 | ||||
Number of Rooms | 119 | ||||
Courtyard Lakeland, FL [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
State | FL | ||||
Description | Courtyard | ||||
Encumbrances | $ 0 | ||||
Initial Cost, Land | [1] | 3,740 | |||
Initial Cost, Building, FF&E and Other | 10,813 | ||||
Subsequently Capitalized Building Improvements and FF&E | 1,305 | ||||
Total Gross Cost | [2] | 15,858 | |||
Accumulated Depreciation | $ (1,653) | ||||
Date of Construction | 2,000 | ||||
Date Acquired | Mar14 | ||||
Number of Rooms | 78 | ||||
Courtyard Miami, FL [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
State | FL | ||||
Description | Courtyard | ||||
Encumbrances | $ 0 | ||||
Initial Cost, Land | [1] | 0 | |||
Initial Cost, Building, FF&E and Other | 31,488 | ||||
Subsequently Capitalized Building Improvements and FF&E | 1,569 | ||||
Total Gross Cost | [2] | 33,057 | |||
Accumulated Depreciation | $ (4,004) | ||||
Date of Construction | 2,008 | ||||
Date Acquired | Mar14 | ||||
Number of Rooms | 118 | ||||
Hampton Miami, FL [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
State | FL | ||||
Description | Hampton | ||||
Encumbrances | $ 0 | ||||
Initial Cost, Land | [1] | 1,972 | |||
Initial Cost, Building, FF&E and Other | 9,987 | ||||
Subsequently Capitalized Building Improvements and FF&E | 2,711 | ||||
Total Gross Cost | [2] | 14,670 | |||
Accumulated Depreciation | $ (4,413) | ||||
Date of Construction | 2,000 | ||||
Date Acquired | Apr10 | ||||
Number of Rooms | 121 | ||||
Homewood Suites Miami, FL [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
State | FL | ||||
Description | Homewood Suites | ||||
Encumbrances | $ 15,022 | ||||
Initial Cost, Land | [1] | 18,820 | |||
Initial Cost, Building, FF&E and Other | 25,375 | ||||
Subsequently Capitalized Building Improvements and FF&E | 3,435 | ||||
Total Gross Cost | [2] | 47,630 | |||
Accumulated Depreciation | $ (4,552) | ||||
Date of Construction | 2,000 | ||||
Date Acquired | Mar14 | ||||
Number of Rooms | 162 | ||||
Fairfield Inn & Suites Orlando, FL [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
State | FL | ||||
Description | Fairfield Inn & Suites | ||||
Encumbrances | $ 0 | ||||
Initial Cost, Land | [1] | 3,140 | |||
Initial Cost, Building, FF&E and Other | 22,580 | ||||
Subsequently Capitalized Building Improvements and FF&E | 695 | ||||
Total Gross Cost | [2] | 26,415 | |||
Accumulated Depreciation | $ (6,619) | ||||
Date of Construction | 2,009 | ||||
Date Acquired | Jul09 | ||||
Number of Rooms | 200 | ||||
SpringHill Suites Orlando, FL [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
State | FL | ||||
Description | SpringHill Suites | ||||
Encumbrances | $ 0 | ||||
Initial Cost, Land | [1] | 3,141 | |||
Initial Cost, Building, FF&E and Other | 25,779 | ||||
Subsequently Capitalized Building Improvements and FF&E | 2,286 | ||||
Total Gross Cost | [2] | 31,206 | |||
Accumulated Depreciation | $ (7,566) | ||||
Date of Construction | 2,009 | ||||
Date Acquired | Jul09 | ||||
Number of Rooms | 200 | ||||
Hampton Panama City, FL [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
State | FL | ||||
Description | Hampton | ||||
Encumbrances | $ 0 | ||||
Initial Cost, Land | [1] | 1,605 | |||
Initial Cost, Building, FF&E and Other | 9,995 | ||||
Subsequently Capitalized Building Improvements and FF&E | 984 | ||||
Total Gross Cost | [2] | 12,584 | |||
Accumulated Depreciation | $ (3,142) | ||||
Date of Construction | 2,009 | ||||
Date Acquired | Mar09 | ||||
Number of Rooms | 95 | ||||
TownePlace Suites Panama City, FL [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
State | FL | ||||
Description | TownePlace Suites | ||||
Encumbrances | $ 0 | ||||
Initial Cost, Land | [1] | 908 | |||
Initial Cost, Building, FF&E and Other | 9,549 | ||||
Subsequently Capitalized Building Improvements and FF&E | 254 | ||||
Total Gross Cost | [2] | 10,711 | |||
Accumulated Depreciation | $ (2,728) | ||||
Date of Construction | 2,010 | ||||
Date Acquired | Jan10 | ||||
Number of Rooms | 103 | ||||
TownePlace Suites Pensacola, FL [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
State | FL | ||||
Description | TownePlace Suites | ||||
Encumbrances | $ 0 | ||||
Initial Cost, Land | [1] | 1,770 | |||
Initial Cost, Building, FF&E and Other | 12,562 | ||||
Subsequently Capitalized Building Improvements and FF&E | 51 | ||||
Total Gross Cost | [2] | 14,383 | |||
Accumulated Depreciation | $ (567) | ||||
Date of Construction | 2,008 | ||||
Date Acquired | Sep16 | ||||
Number of Rooms | 97 | ||||
SpringHill Suites Sanford, FL [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
State | FL | ||||
Description | SpringHill Suites | ||||
Encumbrances | $ 0 | ||||
Initial Cost, Land | [1] | 1,050 | |||
Initial Cost, Building, FF&E and Other | 12,830 | ||||
Subsequently Capitalized Building Improvements and FF&E | 1,453 | ||||
Total Gross Cost | [2] | 15,333 | |||
Accumulated Depreciation | $ (2,327) | ||||
Date of Construction | 2,000 | ||||
Date Acquired | Mar14 | ||||
Number of Rooms | 105 | ||||
Homewood Suites Sarasota, FL [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
State | FL | ||||
Description | Homewood Suites | ||||
Encumbrances | $ 0 | ||||
Initial Cost, Land | [1] | 480 | |||
Initial Cost, Building, FF&E and Other | 14,120 | ||||
Subsequently Capitalized Building Improvements and FF&E | 486 | ||||
Total Gross Cost | [2] | 15,086 | |||
Accumulated Depreciation | $ (2,279) | ||||
Date of Construction | 2,005 | ||||
Date Acquired | Mar14 | ||||
Number of Rooms | 100 | ||||
Fairfield Inn & Suites Tallahassee, FL [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
State | FL | ||||
Description | Fairfield Inn & Suites | ||||
Encumbrances | $ 0 | ||||
Initial Cost, Land | [1] | 960 | |||
Initial Cost, Building, FF&E and Other | 11,734 | ||||
Subsequently Capitalized Building Improvements and FF&E | 29 | ||||
Total Gross Cost | [2] | 12,723 | |||
Accumulated Depreciation | $ (493) | ||||
Date of Construction | 2,011 | ||||
Date Acquired | Sep16 | ||||
Number of Rooms | 97 | ||||
Hilton Garden Inn Tallahassee, FL [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
State | FL | ||||
Description | Hilton Garden Inn | ||||
Encumbrances | $ 0 | ||||
Initial Cost, Land | [1] | 0 | |||
Initial Cost, Building, FF&E and Other | 10,938 | ||||
Subsequently Capitalized Building Improvements and FF&E | 233 | ||||
Total Gross Cost | [2] | 11,171 | |||
Accumulated Depreciation | $ (1,560) | ||||
Date of Construction | 2,006 | ||||
Date Acquired | Mar14 | ||||
Number of Rooms | 85 | ||||
Embassy Suites Tampa, FL [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
State | FL | ||||
Description | Embassy Suites | ||||
Encumbrances | $ 0 | ||||
Initial Cost, Land | [1] | 1,824 | |||
Initial Cost, Building, FF&E and Other | 20,034 | ||||
Subsequently Capitalized Building Improvements and FF&E | 2,980 | ||||
Total Gross Cost | [2] | 24,838 | |||
Accumulated Depreciation | $ (5,636) | ||||
Date of Construction | 2,007 | ||||
Date Acquired | Nov10 | ||||
Number of Rooms | 147 | ||||
TownePlace Suites Tampa, FL [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
State | FL | ||||
Description | TownePlace Suites | ||||
Encumbrances | $ 0 | ||||
Initial Cost, Land | [1] | 1,430 | |||
Initial Cost, Building, FF&E and Other | 9,015 | ||||
Subsequently Capitalized Building Improvements and FF&E | 371 | ||||
Total Gross Cost | [2] | 10,816 | |||
Accumulated Depreciation | $ (1,659) | ||||
Date of Construction | 1,999 | ||||
Date Acquired | Mar14 | ||||
Number of Rooms | 94 | ||||
Fairfield Inn & Suites Albany, GA [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
State | GA | ||||
Description | Fairfield Inn & Suites | ||||
Encumbrances | $ 0 | ||||
Initial Cost, Land | [1] | 899 | |||
Initial Cost, Building, FF&E and Other | 7,263 | ||||
Subsequently Capitalized Building Improvements and FF&E | 147 | ||||
Total Gross Cost | [2] | 8,309 | |||
Accumulated Depreciation | $ (2,137) | ||||
Date of Construction | 2,010 | ||||
Date Acquired | Jan10 | ||||
Number of Rooms | 87 | ||||
Home2 Suites Atlanta, GA [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
State | GA | ||||
Description | Home2 Suites | ||||
Encumbrances | $ 0 | ||||
Initial Cost, Land | [1] | 740 | |||
Initial Cost, Building, FF&E and Other | 23,819 | ||||
Subsequently Capitalized Building Improvements and FF&E | 0 | ||||
Total Gross Cost | [2] | 24,559 | |||
Accumulated Depreciation | $ (1,228) | ||||
Date of Construction | 2,016 | ||||
Date Acquired | Jul16 | ||||
Number of Rooms | 128 | ||||
SpringHill Suites Columbus, GA [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
State | GA | ||||
Description | SpringHill Suites | ||||
Encumbrances | $ 0 | ||||
Initial Cost, Land | [1] | 1,270 | |||
Initial Cost, Building, FF&E and Other | 10,060 | ||||
Subsequently Capitalized Building Improvements and FF&E | [4] | (4,700) | |||
Total Gross Cost | [2] | 6,630 | |||
Accumulated Depreciation | $ (1,113) | ||||
Date of Construction | 2,008 | ||||
Date Acquired | Mar14 | ||||
Number of Rooms | 89 | ||||
TownePlace Suites Columbus, GA [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
State | GA | ||||
Description | [5] | TownePlace Suites | |||
Encumbrances | $ 0 | ||||
Initial Cost, Land | [1] | 0 | |||
Initial Cost, Building, FF&E and Other | 7,467 | ||||
Subsequently Capitalized Building Improvements and FF&E | [4] | (1,493) | |||
Total Gross Cost | [2] | 5,974 | |||
Accumulated Depreciation | $ (1,174) | ||||
Date of Construction | 2,008 | ||||
Date Acquired | Mar14 | ||||
Number of Rooms | 86 | ||||
Hilton Garden Inn Macon, GA [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
State | GA | ||||
Description | Hilton Garden Inn | ||||
Encumbrances | $ 0 | ||||
Initial Cost, Land | [1] | 0 | |||
Initial Cost, Building, FF&E and Other | 15,043 | ||||
Subsequently Capitalized Building Improvements and FF&E | 332 | ||||
Total Gross Cost | [2] | 15,375 | |||
Accumulated Depreciation | $ (2,051) | ||||
Date of Construction | 2,007 | ||||
Date Acquired | Mar14 | ||||
Number of Rooms | 101 | ||||
Hilton Garden Inn Savannah, GA [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
State | GA | ||||
Description | Hilton Garden Inn | ||||
Encumbrances | $ 0 | ||||
Initial Cost, Land | [1] | 0 | |||
Initial Cost, Building, FF&E and Other | 14,716 | ||||
Subsequently Capitalized Building Improvements and FF&E | 900 | ||||
Total Gross Cost | [2] | 15,616 | |||
Accumulated Depreciation | $ (1,819) | ||||
Date of Construction | 2,004 | ||||
Date Acquired | Mar14 | ||||
Number of Rooms | 105 | ||||
Hampton Cedar Rapids, IA [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
State | IA | ||||
Description | Hampton | ||||
Encumbrances | $ 0 | ||||
Initial Cost, Land | [1] | 1,590 | |||
Initial Cost, Building, FF&E and Other | 11,364 | ||||
Subsequently Capitalized Building Improvements and FF&E | 55 | ||||
Total Gross Cost | [2] | 13,009 | |||
Accumulated Depreciation | $ (594) | ||||
Date of Construction | 2,009 | ||||
Date Acquired | Sep16 | ||||
Number of Rooms | 103 | ||||
Homewood Suites Cedar Rapids, IA [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
State | IA | ||||
Description | Homewood Suites | ||||
Encumbrances | $ 0 | ||||
Initial Cost, Land | [1] | 1,770 | |||
Initial Cost, Building, FF&E and Other | 13,116 | ||||
Subsequently Capitalized Building Improvements and FF&E | 18 | ||||
Total Gross Cost | [2] | 14,904 | |||
Accumulated Depreciation | $ (539) | ||||
Date of Construction | 2,010 | ||||
Date Acquired | Sep16 | ||||
Number of Rooms | 95 | ||||
Hampton Davenport, IA [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
State | IA | ||||
Description | Hampton | ||||
Encumbrances | $ 0 | ||||
Initial Cost, Land | [1] | 400 | |||
Initial Cost, Building, FF&E and Other | 16,915 | ||||
Subsequently Capitalized Building Improvements and FF&E | 65 | ||||
Total Gross Cost | [2] | 17,380 | |||
Accumulated Depreciation | $ (782) | ||||
Date of Construction | 2,007 | ||||
Date Acquired | Sep16 | ||||
Number of Rooms | 103 | ||||
Hampton Boise, ID [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
State | ID | ||||
Description | Hampton | ||||
Encumbrances | $ 23,422 | ||||
Initial Cost, Land | [1] | 1,335 | |||
Initial Cost, Building, FF&E and Other | 21,114 | ||||
Subsequently Capitalized Building Improvements and FF&E | 2,598 | ||||
Total Gross Cost | [2] | 25,047 | |||
Accumulated Depreciation | $ (6,503) | ||||
Date of Construction | 2,007 | ||||
Date Acquired | Apr10 | ||||
Number of Rooms | 186 | ||||
SpringHill Suites Boise, ID [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
State | ID | ||||
Description | SpringHill Suites | ||||
Encumbrances | $ 0 | ||||
Initial Cost, Land | [1] | 2,120 | |||
Initial Cost, Building, FF&E and Other | 24,112 | ||||
Subsequently Capitalized Building Improvements and FF&E | 3,966 | ||||
Total Gross Cost | [2] | 30,198 | |||
Accumulated Depreciation | $ (4,242) | ||||
Date of Construction | 1,992 | ||||
Date Acquired | Mar14 | ||||
Number of Rooms | 230 | ||||
Hilton Garden Inn Des Plaines, IL [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
State | IL | ||||
Description | Hilton Garden Inn | ||||
Encumbrances | $ 0 | ||||
Initial Cost, Land | [1] | 10,000 | |||
Initial Cost, Building, FF&E and Other | 38,186 | ||||
Subsequently Capitalized Building Improvements and FF&E | 315 | ||||
Total Gross Cost | [2] | 48,501 | |||
Accumulated Depreciation | $ (1,612) | ||||
Date of Construction | 2,005 | ||||
Date Acquired | Sep16 | ||||
Number of Rooms | 252 | ||||
Hilton Garden Inn Hoffman Estates, IL [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
State | IL | ||||
Description | Hilton Garden Inn | ||||
Encumbrances | $ 0 | ||||
Initial Cost, Land | [1] | 1,770 | |||
Initial Cost, Building, FF&E and Other | 14,373 | ||||
Subsequently Capitalized Building Improvements and FF&E | 357 | ||||
Total Gross Cost | [2] | 16,500 | |||
Accumulated Depreciation | $ (695) | ||||
Date of Construction | 2,000 | ||||
Date Acquired | Sep16 | ||||
Number of Rooms | 184 | ||||
Hilton Garden Inn Mettawa, IL [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
State | IL | ||||
Description | Hilton Garden Inn | ||||
Encumbrances | $ 0 | ||||
Initial Cost, Land | [1] | 2,246 | |||
Initial Cost, Building, FF&E and Other | 28,328 | ||||
Subsequently Capitalized Building Improvements and FF&E | 2,376 | ||||
Total Gross Cost | [2] | 32,950 | |||
Accumulated Depreciation | $ (6,790) | ||||
Date of Construction | 2,008 | ||||
Date Acquired | Nov10 | ||||
Number of Rooms | 170 | ||||
Residence Inn Mettawa, IL [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
State | IL | ||||
Description | Residence Inn | ||||
Encumbrances | $ 0 | ||||
Initial Cost, Land | [1] | 1,722 | |||
Initial Cost, Building, FF&E and Other | 21,843 | ||||
Subsequently Capitalized Building Improvements and FF&E | 1,578 | ||||
Total Gross Cost | [2] | 25,143 | |||
Accumulated Depreciation | $ (5,243) | ||||
Date of Construction | 2,008 | ||||
Date Acquired | Nov10 | ||||
Number of Rooms | 130 | ||||
Hampton Rosemont, IL [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
State | IL | ||||
Description | Hampton | ||||
Encumbrances | $ 0 | ||||
Initial Cost, Land | [1] | 3,410 | |||
Initial Cost, Building, FF&E and Other | 23,594 | ||||
Subsequently Capitalized Building Improvements and FF&E | 3 | ||||
Total Gross Cost | [2] | 27,007 | |||
Accumulated Depreciation | $ (1,144) | ||||
Date of Construction | 2,015 | ||||
Date Acquired | Sep16 | ||||
Number of Rooms | 158 | ||||
Hilton Garden Inn Schaumburg, IL [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
State | IL | ||||
Description | Hilton Garden Inn | ||||
Encumbrances | $ 0 | ||||
Initial Cost, Land | [1] | 1,450 | |||
Initial Cost, Building, FF&E and Other | 19,122 | ||||
Subsequently Capitalized Building Improvements and FF&E | 2,223 | ||||
Total Gross Cost | [2] | 22,795 | |||
Accumulated Depreciation | $ (5,235) | ||||
Date of Construction | 2,008 | ||||
Date Acquired | Nov10 | ||||
Number of Rooms | 166 | ||||
Hampton Skokie, IL [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
State | IL | ||||
Description | Hampton | ||||
Encumbrances | $ 0 | ||||
Initial Cost, Land | [1] | 2,650 | |||
Initial Cost, Building, FF&E and Other | 31,284 | ||||
Subsequently Capitalized Building Improvements and FF&E | 1,019 | ||||
Total Gross Cost | [2] | 34,953 | |||
Accumulated Depreciation | $ (1,345) | ||||
Date of Construction | 2,000 | ||||
Date Acquired | Sep16 | ||||
Number of Rooms | 225 | ||||
Hilton Garden Inn Warrenville, IL [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
State | IL | ||||
Description | Hilton Garden Inn | ||||
Encumbrances | $ 0 | ||||
Initial Cost, Land | [1] | 1,171 | |||
Initial Cost, Building, FF&E and Other | 20,894 | ||||
Subsequently Capitalized Building Improvements and FF&E | 2,144 | ||||
Total Gross Cost | [2] | 24,209 | |||
Accumulated Depreciation | $ (5,126) | ||||
Date of Construction | 2,008 | ||||
Date Acquired | Nov10 | ||||
Number of Rooms | 135 | ||||
SpringHill Suites Indianapolis, IN [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
State | IN | ||||
Description | SpringHill Suites | ||||
Encumbrances | $ 0 | ||||
Initial Cost, Land | [1] | 1,310 | |||
Initial Cost, Building, FF&E and Other | 11,542 | ||||
Subsequently Capitalized Building Improvements and FF&E | 1,787 | ||||
Total Gross Cost | [2] | 14,639 | |||
Accumulated Depreciation | $ (3,182) | ||||
Date of Construction | 2,007 | ||||
Date Acquired | Nov10 | ||||
Number of Rooms | 130 | ||||
Hilton Garden Inn Merrillville, IN [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
State | IN | ||||
Description | Hilton Garden Inn | ||||
Encumbrances | $ 0 | ||||
Initial Cost, Land | [1] | 1,860 | |||
Initial Cost, Building, FF&E and Other | 17,755 | ||||
Subsequently Capitalized Building Improvements and FF&E | 443 | ||||
Total Gross Cost | [2] | 20,058 | |||
Accumulated Depreciation | $ (810) | ||||
Date of Construction | 2,008 | ||||
Date Acquired | Sep16 | ||||
Number of Rooms | 124 | ||||
Residence Inn Mishawaka, IN [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
State | IN | ||||
Description | Residence Inn | ||||
Encumbrances | $ 0 | ||||
Initial Cost, Land | [1] | 898 | |||
Initial Cost, Building, FF&E and Other | 12,862 | ||||
Subsequently Capitalized Building Improvements and FF&E | 1,411 | ||||
Total Gross Cost | [2] | 15,171 | |||
Accumulated Depreciation | $ (3,234) | ||||
Date of Construction | 2,007 | ||||
Date Acquired | Nov10 | ||||
Number of Rooms | 106 | ||||
Fairfield Inn & Suites South Bend, IN [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
State | IN | ||||
Description | Fairfield Inn & Suites | ||||
Encumbrances | $ 0 | ||||
Initial Cost, Land | [1] | 2,090 | |||
Initial Cost, Building, FF&E and Other | 23,361 | ||||
Subsequently Capitalized Building Improvements and FF&E | 122 | ||||
Total Gross Cost | [2] | 25,573 | |||
Accumulated Depreciation | $ (924) | ||||
Date of Construction | 2,010 | ||||
Date Acquired | Sep16 | ||||
Number of Rooms | 119 | ||||
Fairfield Inn & Suites Overland Park, KS [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
State | KS | ||||
Description | Fairfield Inn & Suites | ||||
Encumbrances | $ 0 | ||||
Initial Cost, Land | [1] | 1,230 | |||
Initial Cost, Building, FF&E and Other | 11,713 | ||||
Subsequently Capitalized Building Improvements and FF&E | 102 | ||||
Total Gross Cost | [2] | 13,045 | |||
Accumulated Depreciation | $ (1,449) | ||||
Date of Construction | 2,008 | ||||
Date Acquired | Mar14 | ||||
Number of Rooms | 110 | ||||
Residence Inn Overland Park, KS [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
State | KS | ||||
Description | Residence Inn | ||||
Encumbrances | $ 0 | ||||
Initial Cost, Land | [1] | 1,790 | |||
Initial Cost, Building, FF&E and Other | 20,633 | ||||
Subsequently Capitalized Building Improvements and FF&E | 2,377 | ||||
Total Gross Cost | [2] | 24,800 | |||
Accumulated Depreciation | $ (3,497) | ||||
Date of Construction | 2,000 | ||||
Date Acquired | Mar14 | ||||
Number of Rooms | 120 | ||||
SpringHill Suites Overland Park, KS [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
State | KS | ||||
Description | SpringHill Suites | ||||
Encumbrances | $ 0 | ||||
Initial Cost, Land | [1] | 1,060 | |||
Initial Cost, Building, FF&E and Other | 8,263 | ||||
Subsequently Capitalized Building Improvements and FF&E | 353 | ||||
Total Gross Cost | [2] | 9,676 | |||
Accumulated Depreciation | $ (1,776) | ||||
Date of Construction | 1,998 | ||||
Date Acquired | Mar14 | ||||
Number of Rooms | 102 | ||||
Courtyard Wichita, KS [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
State | KS | ||||
Description | Courtyard | ||||
Encumbrances | $ 0 | ||||
Initial Cost, Land | [1] | 1,940 | |||
Initial Cost, Building, FF&E and Other | 9,739 | ||||
Subsequently Capitalized Building Improvements and FF&E | 897 | ||||
Total Gross Cost | [2] | 12,576 | |||
Accumulated Depreciation | $ (1,990) | ||||
Date of Construction | 2,000 | ||||
Date Acquired | Mar14 | ||||
Number of Rooms | 90 | ||||
SpringHill Suites Baton Rouge, LA [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
State | LA | ||||
Description | SpringHill Suites | ||||
Encumbrances | $ 0 | ||||
Initial Cost, Land | [1] | 1,280 | |||
Initial Cost, Building, FF&E and Other | 13,870 | ||||
Subsequently Capitalized Building Improvements and FF&E | [4] | (3,464) | |||
Total Gross Cost | [2] | 11,686 | |||
Accumulated Depreciation | $ (3,713) | ||||
Date of Construction | 2,009 | ||||
Date Acquired | Sep09 | ||||
Number of Rooms | 119 | ||||
Hilton Garden Inn Lafayette, LA [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
State | LA | ||||
Description | Hilton Garden Inn | ||||
Encumbrances | $ 0 | ||||
Initial Cost, Land | [1] | 0 | |||
Initial Cost, Building, FF&E and Other | 17,898 | ||||
Subsequently Capitalized Building Improvements and FF&E | 2,621 | ||||
Total Gross Cost | [2] | 20,519 | |||
Accumulated Depreciation | $ (5,689) | ||||
Date of Construction | 2,006 | ||||
Date Acquired | Jul10 | ||||
Number of Rooms | 153 | ||||
SpringHill Suites Lafayette, LA [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
State | LA | ||||
Description | SpringHill Suites | ||||
Encumbrances | $ 0 | ||||
Initial Cost, Land | [1] | 709 | |||
Initial Cost, Building, FF&E and Other | 9,400 | ||||
Subsequently Capitalized Building Improvements and FF&E | 97 | ||||
Total Gross Cost | [2] | 10,206 | |||
Accumulated Depreciation | $ (2,339) | ||||
Date of Construction | 2,011 | ||||
Date Acquired | Jun11 | ||||
Number of Rooms | 103 | ||||
Homewood Suites New Orleans, LA [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
State | LA | ||||
Description | Homewood Suites | ||||
Encumbrances | $ 24,919 | ||||
Initial Cost, Land | [1] | 4,150 | |||
Initial Cost, Building, FF&E and Other | 52,258 | ||||
Subsequently Capitalized Building Improvements and FF&E | 4,083 | ||||
Total Gross Cost | [2] | 60,491 | |||
Accumulated Depreciation | $ (7,274) | ||||
Date of Construction | 2,002 | ||||
Date Acquired | Mar14 | ||||
Number of Rooms | 166 | ||||
SpringHill Suites Andover, MA [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
State | MA | ||||
Description | SpringHill Suites | ||||
Encumbrances | $ 0 | ||||
Initial Cost, Land | [1] | 702 | |||
Initial Cost, Building, FF&E and Other | 5,799 | ||||
Subsequently Capitalized Building Improvements and FF&E | 2,411 | ||||
Total Gross Cost | [2] | 8,912 | |||
Accumulated Depreciation | $ (2,768) | ||||
Date of Construction | 2,001 | ||||
Date Acquired | Nov10 | ||||
Number of Rooms | 136 | ||||
Residence Inn Marlborough, MA [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
State | MA | ||||
Description | Residence Inn | ||||
Encumbrances | $ 0 | ||||
Initial Cost, Land | [1] | 3,480 | |||
Initial Cost, Building, FF&E and Other | 17,341 | ||||
Subsequently Capitalized Building Improvements and FF&E | 1,612 | ||||
Total Gross Cost | [2] | 22,433 | |||
Accumulated Depreciation | $ (2,729) | ||||
Date of Construction | 2,006 | ||||
Date Acquired | Mar14 | ||||
Number of Rooms | 112 | ||||
Hampton Westford, MA [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
State | MA | ||||
Description | Hampton | ||||
Encumbrances | $ 0 | ||||
Initial Cost, Land | [1] | 3,410 | |||
Initial Cost, Building, FF&E and Other | 16,320 | ||||
Subsequently Capitalized Building Improvements and FF&E | 1,313 | ||||
Total Gross Cost | [2] | 21,043 | |||
Accumulated Depreciation | $ (2,349) | ||||
Date of Construction | 2,007 | ||||
Date Acquired | Mar14 | ||||
Number of Rooms | 110 | ||||
Residence Inn Westford, MA [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
State | MA | ||||
Description | Residence Inn | ||||
Encumbrances | $ 9,386 | ||||
Initial Cost, Land | [1] | 1,760 | |||
Initial Cost, Building, FF&E and Other | 20,791 | ||||
Subsequently Capitalized Building Improvements and FF&E | 360 | ||||
Total Gross Cost | [2] | 22,911 | |||
Accumulated Depreciation | $ (2,575) | ||||
Date of Construction | 2,001 | ||||
Date Acquired | Mar14 | ||||
Number of Rooms | 108 | ||||
Hilton Garden Inn Annapolis, MD [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
State | MD | ||||
Description | Hilton Garden Inn | ||||
Encumbrances | $ 0 | ||||
Initial Cost, Land | [1] | 4,350 | |||
Initial Cost, Building, FF&E and Other | 13,974 | ||||
Subsequently Capitalized Building Improvements and FF&E | 1,716 | ||||
Total Gross Cost | [2] | 20,040 | |||
Accumulated Depreciation | $ (2,285) | ||||
Date of Construction | 2,007 | ||||
Date Acquired | Mar14 | ||||
Number of Rooms | 126 | ||||
Hilton Garden Inn Silver Spring, MD [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
State | MD | ||||
Description | Hilton Garden Inn | ||||
Encumbrances | $ 0 | ||||
Initial Cost, Land | [1] | 1,361 | |||
Initial Cost, Building, FF&E and Other | 16,094 | ||||
Subsequently Capitalized Building Improvements and FF&E | 420 | ||||
Total Gross Cost | [2] | 17,875 | |||
Accumulated Depreciation | $ (4,156) | ||||
Date of Construction | 2,010 | ||||
Date Acquired | Jul10 | ||||
Number of Rooms | 107 | ||||
Residence Inn Portland, ME [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
State | ME | ||||
Description | Residence Inn | ||||
Encumbrances | $ 0 | ||||
Initial Cost, Land | [1] | 4,440 | |||
Initial Cost, Building, FF&E and Other | 51,534 | ||||
Subsequently Capitalized Building Improvements and FF&E | 71 | ||||
Total Gross Cost | [2] | 56,045 | |||
Accumulated Depreciation | $ (385) | ||||
Date of Construction | 2,009 | ||||
Date Acquired | Oct17 | ||||
Number of Rooms | 179 | ||||
Hilton Garden Inn Novi, MI [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
State | MI | ||||
Description | Hilton Garden Inn | ||||
Encumbrances | $ 0 | ||||
Initial Cost, Land | [1] | 1,213 | |||
Initial Cost, Building, FF&E and Other | 15,052 | ||||
Subsequently Capitalized Building Improvements and FF&E | 1,874 | ||||
Total Gross Cost | [2] | 18,139 | |||
Accumulated Depreciation | $ (4,161) | ||||
Date of Construction | 2,008 | ||||
Date Acquired | Nov10 | ||||
Number of Rooms | 148 | ||||
Hilton Garden Inn Maple Grove, MN [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
State | MN | ||||
Description | Hilton Garden Inn | ||||
Encumbrances | $ 0 | ||||
Initial Cost, Land | [1] | 1,560 | |||
Initial Cost, Building, FF&E and Other | 13,717 | ||||
Subsequently Capitalized Building Improvements and FF&E | 183 | ||||
Total Gross Cost | [2] | 15,460 | |||
Accumulated Depreciation | $ (635) | ||||
Date of Construction | 2,003 | ||||
Date Acquired | Sep16 | ||||
Number of Rooms | 120 | ||||
Hampton Rochester, MN [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
State | MN | ||||
Description | Hampton | ||||
Encumbrances | $ 0 | ||||
Initial Cost, Land | [1] | 916 | |||
Initial Cost, Building, FF&E and Other | 13,225 | ||||
Subsequently Capitalized Building Improvements and FF&E | 785 | ||||
Total Gross Cost | [2] | 14,926 | |||
Accumulated Depreciation | $ (4,099) | ||||
Date of Construction | 2,009 | ||||
Date Acquired | Aug09 | ||||
Number of Rooms | 124 | ||||
Hampton Kansas City, MO [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
State | MO | ||||
Description | Hampton | ||||
Encumbrances | $ 0 | ||||
Initial Cost, Land | [1] | 727 | |||
Initial Cost, Building, FF&E and Other | 9,363 | ||||
Subsequently Capitalized Building Improvements and FF&E | 1,143 | ||||
Total Gross Cost | [2] | 11,233 | |||
Accumulated Depreciation | $ (2,812) | ||||
Date of Construction | 1,999 | ||||
Date Acquired | Aug10 | ||||
Number of Rooms | 122 | ||||
Residence Inn Kansas City, MO [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
State | MO | ||||
Description | Residence Inn | ||||
Encumbrances | $ 0 | ||||
Initial Cost, Land | [1] | 2,000 | |||
Initial Cost, Building, FF&E and Other | 20,818 | ||||
Subsequently Capitalized Building Improvements and FF&E | 1,832 | ||||
Total Gross Cost | [2] | 24,650 | |||
Accumulated Depreciation | $ (2,636) | ||||
Date of Construction | 2,002 | ||||
Date Acquired | Mar14 | ||||
Number of Rooms | 106 | ||||
Hampton St. Louis, MO [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
State | MO | ||||
Description | Hampton | ||||
Encumbrances | $ 0 | ||||
Initial Cost, Land | [1] | 1,758 | |||
Initial Cost, Building, FF&E and Other | 20,954 | ||||
Subsequently Capitalized Building Improvements and FF&E | 5,992 | ||||
Total Gross Cost | [2] | 28,704 | |||
Accumulated Depreciation | $ (6,507) | ||||
Date of Construction | 2,003 | ||||
Date Acquired | Aug10 | ||||
Number of Rooms | 190 | ||||
Hampton St. Louis, MO [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
State | MO | ||||
Description | Hampton | ||||
Encumbrances | $ 0 | ||||
Initial Cost, Land | [1] | 758 | |||
Initial Cost, Building, FF&E and Other | 15,287 | ||||
Subsequently Capitalized Building Improvements and FF&E | 1,934 | ||||
Total Gross Cost | [2] | 17,979 | |||
Accumulated Depreciation | $ (4,518) | ||||
Date of Construction | 2,006 | ||||
Date Acquired | Apr10 | ||||
Number of Rooms | 126 | ||||
Courtyard Hattiesburg, MS [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
State | MS | ||||
Description | Courtyard | ||||
Encumbrances | $ 5,212 | ||||
Initial Cost, Land | [1] | 1,390 | |||
Initial Cost, Building, FF&E and Other | 11,324 | ||||
Subsequently Capitalized Building Improvements and FF&E | 1,113 | ||||
Total Gross Cost | [2] | 13,827 | |||
Accumulated Depreciation | $ (1,492) | ||||
Date of Construction | 2,006 | ||||
Date Acquired | Mar14 | ||||
Number of Rooms | 84 | ||||
Residence Inn Hattiesburg, MS [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
State | MS | ||||
Description | Residence Inn | ||||
Encumbrances | $ 0 | ||||
Initial Cost, Land | [1] | 906 | |||
Initial Cost, Building, FF&E and Other | 9,151 | ||||
Subsequently Capitalized Building Improvements and FF&E | 956 | ||||
Total Gross Cost | [2] | 11,013 | |||
Accumulated Depreciation | $ (3,010) | ||||
Date of Construction | 2,008 | ||||
Date Acquired | Dec08 | ||||
Number of Rooms | 84 | ||||
Courtyard Carolina Beach, NC [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
State | NC | ||||
Description | Courtyard | ||||
Encumbrances | $ 0 | ||||
Initial Cost, Land | [1] | 7,490 | |||
Initial Cost, Building, FF&E and Other | 31,588 | ||||
Subsequently Capitalized Building Improvements and FF&E | 2,445 | ||||
Total Gross Cost | [2] | 41,523 | |||
Accumulated Depreciation | $ (3,802) | ||||
Date of Construction | 2,003 | ||||
Date Acquired | Mar14 | ||||
Number of Rooms | 144 | ||||
Fairfield Inn & Suites Charlotte, NC [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
State | NC | ||||
Description | Fairfield Inn & Suites | ||||
Encumbrances | $ 0 | ||||
Initial Cost, Land | [1] | 1,030 | |||
Initial Cost, Building, FF&E and Other | 11,111 | ||||
Subsequently Capitalized Building Improvements and FF&E | 83 | ||||
Total Gross Cost | [2] | 12,224 | |||
Accumulated Depreciation | $ (476) | ||||
Date of Construction | 2,010 | ||||
Date Acquired | Sep16 | ||||
Number of Rooms | 94 | ||||
Homewood Suites Charlotte, NC [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
State | NC | ||||
Description | Homewood Suites | ||||
Encumbrances | $ 0 | ||||
Initial Cost, Land | [1] | 1,031 | |||
Initial Cost, Building, FF&E and Other | 4,937 | ||||
Subsequently Capitalized Building Improvements and FF&E | 6,435 | ||||
Total Gross Cost | [2] | 12,403 | |||
Accumulated Depreciation | $ (5,712) | ||||
Date of Construction | 1,990 | ||||
Date Acquired | Sep08 | ||||
Number of Rooms | 118 | ||||
Homewood Suites Durham, NC [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
State | NC | ||||
Description | Homewood Suites | ||||
Encumbrances | $ 0 | ||||
Initial Cost, Land | [1] | 1,232 | |||
Initial Cost, Building, FF&E and Other | 18,343 | ||||
Subsequently Capitalized Building Improvements and FF&E | 4,763 | ||||
Total Gross Cost | [2] | 24,338 | |||
Accumulated Depreciation | $ (7,331) | ||||
Date of Construction | 1,999 | ||||
Date Acquired | Dec08 | ||||
Number of Rooms | 122 | ||||
Home2 Suites Fayetteville, NC [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
State | NC | ||||
Description | Home2 Suites | ||||
Encumbrances | $ 0 | ||||
Initial Cost, Land | [1] | 746 | |||
Initial Cost, Building, FF&E and Other | 10,563 | ||||
Subsequently Capitalized Building Improvements and FF&E | 44 | ||||
Total Gross Cost | [2] | 11,353 | |||
Accumulated Depreciation | $ (2,933) | ||||
Date of Construction | 2,011 | ||||
Date Acquired | Feb11 | ||||
Number of Rooms | 118 | ||||
Residence Inn Fayetteville, NC [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
State | NC | ||||
Description | Residence Inn | ||||
Encumbrances | $ 0 | ||||
Initial Cost, Land | [1] | 3,530 | |||
Initial Cost, Building, FF&E and Other | 19,799 | ||||
Subsequently Capitalized Building Improvements and FF&E | 198 | ||||
Total Gross Cost | [2] | 23,527 | |||
Accumulated Depreciation | $ (2,786) | ||||
Date of Construction | 2,006 | ||||
Date Acquired | Mar14 | ||||
Number of Rooms | 92 | ||||
SpringHill Suites Greenboro, NC [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
State | NC | ||||
Description | SpringHill Suites | ||||
Encumbrances | $ 0 | ||||
Initial Cost, Land | [1] | 1,850 | |||
Initial Cost, Building, FF&E and Other | 10,157 | ||||
Subsequently Capitalized Building Improvements and FF&E | 344 | ||||
Total Gross Cost | [2] | 12,351 | |||
Accumulated Depreciation | $ (1,522) | ||||
Date of Construction | 2,004 | ||||
Date Acquired | Mar14 | ||||
Number of Rooms | 82 | ||||
Hampton Holly Springs, NC [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
State | NC | ||||
Description | Hampton | ||||
Encumbrances | $ 0 | ||||
Initial Cost, Land | [1] | 1,620 | |||
Initial Cost, Building, FF&E and Other | 13,260 | ||||
Subsequently Capitalized Building Improvements and FF&E | 208 | ||||
Total Gross Cost | [2] | 15,088 | |||
Accumulated Depreciation | $ (3,605) | ||||
Date of Construction | 2,010 | ||||
Date Acquired | Nov10 | ||||
Number of Rooms | 124 | ||||
Home2 Suites Jacksonville, NC [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
State | NC | ||||
Description | Home2 Suites | ||||
Encumbrances | $ 0 | ||||
Initial Cost, Land | [1] | 910 | |||
Initial Cost, Building, FF&E and Other | 12,527 | ||||
Subsequently Capitalized Building Improvements and FF&E | 44 | ||||
Total Gross Cost | [2] | 13,481 | |||
Accumulated Depreciation | $ (565) | ||||
Date of Construction | 2,012 | ||||
Date Acquired | Sep16 | ||||
Number of Rooms | 105 | ||||
Fairfield Inn & Suites Wilmington, NC [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
State | NC | ||||
Description | Fairfield Inn & Suites | ||||
Encumbrances | $ 0 | ||||
Initial Cost, Land | [1] | 1,310 | |||
Initial Cost, Building, FF&E and Other | 13,034 | ||||
Subsequently Capitalized Building Improvements and FF&E | 694 | ||||
Total Gross Cost | [2] | 15,038 | |||
Accumulated Depreciation | $ (1,640) | ||||
Date of Construction | 2,008 | ||||
Date Acquired | Mar14 | ||||
Number of Rooms | 122 | ||||
Courtyard Winston-Salem, NC [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
State | NC | ||||
Description | Courtyard | ||||
Encumbrances | $ 0 | ||||
Initial Cost, Land | [1] | 3,860 | |||
Initial Cost, Building, FF&E and Other | 11,585 | ||||
Subsequently Capitalized Building Improvements and FF&E | 175 | ||||
Total Gross Cost | [2] | 15,620 | |||
Accumulated Depreciation | $ (1,917) | ||||
Date of Construction | 1,998 | ||||
Date Acquired | Mar14 | ||||
Number of Rooms | 122 | ||||
Hampton Winston-Salem, NC [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
State | NC | ||||
Description | Hampton | ||||
Encumbrances | $ 0 | ||||
Initial Cost, Land | [1] | 2,170 | |||
Initial Cost, Building, FF&E and Other | 14,268 | ||||
Subsequently Capitalized Building Improvements and FF&E | 7 | ||||
Total Gross Cost | [2] | 16,445 | |||
Accumulated Depreciation | $ (552) | ||||
Date of Construction | 2,010 | ||||
Date Acquired | Sep16 | ||||
Number of Rooms | 94 | ||||
Courtyard Omaha, NE [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
State | NE | ||||
Description | Courtyard | ||||
Encumbrances | $ 0 | ||||
Initial Cost, Land | [1] | 6,700 | |||
Initial Cost, Building, FF&E and Other | 36,829 | ||||
Subsequently Capitalized Building Improvements and FF&E | 3,159 | ||||
Total Gross Cost | [2] | 46,688 | |||
Accumulated Depreciation | $ (4,449) | ||||
Date of Construction | 1,999 | ||||
Date Acquired | Mar14 | ||||
Number of Rooms | 181 | ||||
Hampton Omaha, NE [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
State | NE | ||||
Description | Hampton | ||||
Encumbrances | $ 0 | ||||
Initial Cost, Land | [1] | 1,710 | |||
Initial Cost, Building, FF&E and Other | 22,636 | ||||
Subsequently Capitalized Building Improvements and FF&E | 88 | ||||
Total Gross Cost | [2] | 24,434 | |||
Accumulated Depreciation | $ (1,013) | ||||
Date of Construction | 2,007 | ||||
Date Acquired | Sep16 | ||||
Number of Rooms | 139 | ||||
Hilton Garden Inn Omaha, NE [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
State | NE | ||||
Description | Hilton Garden Inn | ||||
Encumbrances | $ 22,145 | ||||
Initial Cost, Land | [1] | 1,620 | |||
Initial Cost, Building, FF&E and Other | 35,962 | ||||
Subsequently Capitalized Building Improvements and FF&E | 186 | ||||
Total Gross Cost | [2] | 37,768 | |||
Accumulated Depreciation | $ (1,538) | ||||
Date of Construction | 2,001 | ||||
Date Acquired | Sep16 | ||||
Number of Rooms | 178 | ||||
Homewood Suites Omaha, NE [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
State | NE | ||||
Description | Homewood Suites | ||||
Encumbrances | $ 0 | ||||
Initial Cost, Land | [1] | 1,890 | |||
Initial Cost, Building, FF&E and Other | 22,014 | ||||
Subsequently Capitalized Building Improvements and FF&E | 21 | ||||
Total Gross Cost | [2] | 23,925 | |||
Accumulated Depreciation | $ (1,068) | ||||
Date of Construction | 2,008 | ||||
Date Acquired | Sep16 | ||||
Number of Rooms | 123 | ||||
Homewood Suites Cranford, NJ [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
State | NJ | ||||
Description | Homewood Suites | ||||
Encumbrances | $ 0 | ||||
Initial Cost, Land | [1] | 4,550 | |||
Initial Cost, Building, FF&E and Other | 23,828 | ||||
Subsequently Capitalized Building Improvements and FF&E | 3,631 | ||||
Total Gross Cost | [2] | 32,009 | |||
Accumulated Depreciation | $ (3,951) | ||||
Date of Construction | 2,000 | ||||
Date Acquired | Mar14 | ||||
Number of Rooms | 108 | ||||
Homewood Suites Mahwah, NJ [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
State | NJ | ||||
Description | Homewood Suites | ||||
Encumbrances | $ 0 | ||||
Initial Cost, Land | [1] | 3,220 | |||
Initial Cost, Building, FF&E and Other | 22,742 | ||||
Subsequently Capitalized Building Improvements and FF&E | 3,981 | ||||
Total Gross Cost | [2] | 29,943 | |||
Accumulated Depreciation | $ (3,543) | ||||
Date of Construction | 2,001 | ||||
Date Acquired | Mar14 | ||||
Number of Rooms | 110 | ||||
Homewood Suites Mount Laurel, NJ [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
State | NJ | ||||
Description | Homewood Suites | ||||
Encumbrances | $ 0 | ||||
Initial Cost, Land | [1] | 1,589 | |||
Initial Cost, Building, FF&E and Other | 13,476 | ||||
Subsequently Capitalized Building Improvements and FF&E | 2,063 | ||||
Total Gross Cost | [2] | 17,128 | |||
Accumulated Depreciation | $ (4,084) | ||||
Date of Construction | 2,006 | ||||
Date Acquired | Jan11 | ||||
Number of Rooms | 118 | ||||
Courtyard Somerset, NJ [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
State | NJ | ||||
Description | Courtyard | ||||
Encumbrances | $ 7,932 | ||||
Initial Cost, Land | [1] | 0 | |||
Initial Cost, Building, FF&E and Other | 27,133 | ||||
Subsequently Capitalized Building Improvements and FF&E | 2,351 | ||||
Total Gross Cost | [2] | 29,484 | |||
Accumulated Depreciation | $ (4,742) | ||||
Date of Construction | 2,002 | ||||
Date Acquired | Mar14 | ||||
Number of Rooms | 162 | ||||
Courtyard West Orange, NJ [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
State | NJ | ||||
Description | Courtyard | ||||
Encumbrances | $ 0 | ||||
Initial Cost, Land | [1] | 2,054 | |||
Initial Cost, Building, FF&E and Other | 19,513 | ||||
Subsequently Capitalized Building Improvements and FF&E | 2,294 | ||||
Total Gross Cost | [2] | 23,861 | |||
Accumulated Depreciation | $ (5,063) | ||||
Date of Construction | 2,005 | ||||
Date Acquired | Jan11 | ||||
Number of Rooms | 131 | ||||
Hilton Garden Inn Islip/Ronkonkoma, NY [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
State | NY | ||||
Description | Hilton Garden Inn | ||||
Encumbrances | $ 0 | ||||
Initial Cost, Land | [1] | 6,510 | |||
Initial Cost, Building, FF&E and Other | 28,718 | ||||
Subsequently Capitalized Building Improvements and FF&E | 837 | ||||
Total Gross Cost | [2] | 36,065 | |||
Accumulated Depreciation | $ (3,740) | ||||
Date of Construction | 2,003 | ||||
Date Acquired | Mar14 | ||||
Number of Rooms | 165 | ||||
Renaissance New York, NY [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
State | NY | ||||
Description | Renaissance | ||||
Encumbrances | $ 0 | ||||
Initial Cost, Land | [1] | 0 | |||
Initial Cost, Building, FF&E and Other | 102,832 | ||||
Subsequently Capitalized Building Improvements and FF&E | [4] | (74,659) | |||
Total Gross Cost | [2] | 28,173 | |||
Accumulated Depreciation | $ (11,824) | ||||
Date of Construction | 1,916 | ||||
Date Acquired | Mar14 | ||||
Number of Rooms | 205 | ||||
Courtyard Syracuse, NY [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
State | NY | ||||
Description | Courtyard | ||||
Encumbrances | $ 10,637 | ||||
Initial Cost, Land | [1] | 812 | |||
Initial Cost, Building, FF&E and Other | 23,278 | ||||
Subsequently Capitalized Building Improvements and FF&E | 27 | ||||
Total Gross Cost | [2] | 24,117 | |||
Accumulated Depreciation | $ (1,694) | ||||
Date of Construction | 2,013 | ||||
Date Acquired | Oct15 | ||||
Number of Rooms | 102 | ||||
Residence Inn Syracuse, NY [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
State | NY | ||||
Description | Residence Inn | ||||
Encumbrances | $ 10,637 | ||||
Initial Cost, Land | [1] | 621 | |||
Initial Cost, Building, FF&E and Other | 17,589 | ||||
Subsequently Capitalized Building Improvements and FF&E | 29 | ||||
Total Gross Cost | [2] | 18,239 | |||
Accumulated Depreciation | $ (1,333) | ||||
Date of Construction | 2,013 | ||||
Date Acquired | Oct15 | ||||
Number of Rooms | 78 | ||||
Hilton Garden Inn Mason, OH [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
State | OH | ||||
Description | Hilton Garden Inn | ||||
Encumbrances | $ 0 | ||||
Initial Cost, Land | [1] | 1,120 | |||
Initial Cost, Building, FF&E and Other | 16,770 | ||||
Subsequently Capitalized Building Improvements and FF&E | 1,027 | ||||
Total Gross Cost | [2] | 18,917 | |||
Accumulated Depreciation | $ (835) | ||||
Date of Construction | 2,010 | ||||
Date Acquired | Sep16 | ||||
Number of Rooms | 110 | ||||
Hilton Garden Inn Twinsburg, OH [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
State | OH | ||||
Description | Hilton Garden Inn | ||||
Encumbrances | $ 0 | ||||
Initial Cost, Land | [1] | 1,419 | |||
Initial Cost, Building, FF&E and Other | 16,614 | ||||
Subsequently Capitalized Building Improvements and FF&E | 3,165 | ||||
Total Gross Cost | [2] | 21,198 | |||
Accumulated Depreciation | $ (6,632) | ||||
Date of Construction | 1,999 | ||||
Date Acquired | Oct08 | ||||
Number of Rooms | 142 | ||||
Hampton Oklahoma City, OK [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
State | OK | ||||
Description | Hampton | ||||
Encumbrances | $ 0 | ||||
Initial Cost, Land | [1] | 1,430 | |||
Initial Cost, Building, FF&E and Other | 31,327 | ||||
Subsequently Capitalized Building Improvements and FF&E | 1,395 | ||||
Total Gross Cost | [2] | 34,152 | |||
Accumulated Depreciation | $ (7,798) | ||||
Date of Construction | 2,009 | ||||
Date Acquired | May10 | ||||
Number of Rooms | 200 | ||||
Hilton Garden Inn Oklahoma City, OK [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
State | OK | ||||
Description | Hilton Garden Inn | ||||
Encumbrances | $ 0 | ||||
Initial Cost, Land | [1] | 1,270 | |||
Initial Cost, Building, FF&E and Other | 32,700 | ||||
Subsequently Capitalized Building Improvements and FF&E | 15 | ||||
Total Gross Cost | [2] | 33,985 | |||
Accumulated Depreciation | $ (1,406) | ||||
Date of Construction | 2,014 | ||||
Date Acquired | Sep16 | ||||
Number of Rooms | 155 | ||||
Homewood Suites Oklahoma City, OK [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
State | OK | ||||
Description | Homewood Suites | ||||
Encumbrances | $ 0 | ||||
Initial Cost, Land | [1] | 760 | |||
Initial Cost, Building, FF&E and Other | 20,056 | ||||
Subsequently Capitalized Building Improvements and FF&E | 7 | ||||
Total Gross Cost | [2] | 20,823 | |||
Accumulated Depreciation | $ (900) | ||||
Date of Construction | 2,014 | ||||
Date Acquired | Sep16 | ||||
Number of Rooms | 100 | ||||
Homewood Suites Oklahoma City (West), OK [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
State | OK | ||||
Description | Homewood Suites | ||||
Encumbrances | $ 0 | ||||
Initial Cost, Land | [1] | 1,280 | |||
Initial Cost, Building, FF&E and Other | 13,340 | ||||
Subsequently Capitalized Building Improvements and FF&E | 35 | ||||
Total Gross Cost | [2] | 14,655 | |||
Accumulated Depreciation | $ (737) | ||||
Date of Construction | 2,008 | ||||
Date Acquired | Sep16 | ||||
Number of Rooms | 90 | ||||
Courtyard Collegeville/Philadelphia, PA [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
State | PA | ||||
Description | Courtyard | ||||
Encumbrances | $ 11,152 | ||||
Initial Cost, Land | [1] | 2,115 | |||
Initial Cost, Building, FF&E and Other | 17,953 | ||||
Subsequently Capitalized Building Improvements and FF&E | 2,341 | ||||
Total Gross Cost | [2] | 22,409 | |||
Accumulated Depreciation | $ (5,014) | ||||
Date of Construction | 2,005 | ||||
Date Acquired | Nov10 | ||||
Number of Rooms | 132 | ||||
Courtyard Malvern/Philadelphia, PA [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
State | PA | ||||
Description | Courtyard | ||||
Encumbrances | $ 0 | ||||
Initial Cost, Land | [1] | 996 | |||
Initial Cost, Building, FF&E and Other | 20,374 | ||||
Subsequently Capitalized Building Improvements and FF&E | 1,869 | ||||
Total Gross Cost | [2] | 23,239 | |||
Accumulated Depreciation | $ (5,202) | ||||
Date of Construction | 2,007 | ||||
Date Acquired | Nov10 | ||||
Number of Rooms | 127 | ||||
Hampton Pittsburgh, PA [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
State | PA | ||||
Description | Hampton | ||||
Encumbrances | $ 0 | ||||
Initial Cost, Land | [1] | 2,503 | |||
Initial Cost, Building, FF&E and Other | 18,537 | ||||
Subsequently Capitalized Building Improvements and FF&E | 4,474 | ||||
Total Gross Cost | [2] | 25,514 | |||
Accumulated Depreciation | $ (6,445) | ||||
Date of Construction | 1,991 | ||||
Date Acquired | Dec08 | ||||
Number of Rooms | 132 | ||||
Home2 Suites Charleston, SC [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
State | SC | ||||
Description | Home2 Suites | ||||
Encumbrances | $ 0 | ||||
Initial Cost, Land | [1] | 3,250 | |||
Initial Cost, Building, FF&E and Other | 16,778 | ||||
Subsequently Capitalized Building Improvements and FF&E | 93 | ||||
Total Gross Cost | [2] | 20,121 | |||
Accumulated Depreciation | $ (711) | ||||
Date of Construction | 2,011 | ||||
Date Acquired | Sep16 | ||||
Number of Rooms | 122 | ||||
Hilton Garden Inn Columbia, SC [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
State | SC | ||||
Description | Hilton Garden Inn | ||||
Encumbrances | $ 0 | ||||
Initial Cost, Land | [1] | 3,540 | |||
Initial Cost, Building, FF&E and Other | 16,399 | ||||
Subsequently Capitalized Building Improvements and FF&E | 346 | ||||
Total Gross Cost | [2] | 20,285 | |||
Accumulated Depreciation | $ (2,603) | ||||
Date of Construction | 2,006 | ||||
Date Acquired | Mar14 | ||||
Number of Rooms | 143 | ||||
TownePlace Suites Columbia, SC [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
State | SC | ||||
Description | TownePlace Suites | ||||
Encumbrances | $ 0 | ||||
Initial Cost, Land | [1] | 1,330 | |||
Initial Cost, Building, FF&E and Other | 10,839 | ||||
Subsequently Capitalized Building Improvements and FF&E | 933 | ||||
Total Gross Cost | [2] | 13,102 | |||
Accumulated Depreciation | $ (550) | ||||
Date of Construction | 2,009 | ||||
Date Acquired | Sep16 | ||||
Number of Rooms | 91 | ||||
Residence Inn Greenville, SC [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
State | SC | ||||
Description | Residence Inn | ||||
Encumbrances | $ 0 | ||||
Initial Cost, Land | [1] | 900 | |||
Initial Cost, Building, FF&E and Other | 9,778 | ||||
Subsequently Capitalized Building Improvements and FF&E | 305 | ||||
Total Gross Cost | [2] | 10,983 | |||
Accumulated Depreciation | $ (1,553) | ||||
Date of Construction | 1,998 | ||||
Date Acquired | Mar14 | ||||
Number of Rooms | 78 | ||||
Hilton Garden Inn Hilton Head, SC [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
State | SC | ||||
Description | Hilton Garden Inn | ||||
Encumbrances | $ 0 | ||||
Initial Cost, Land | [1] | 3,600 | |||
Initial Cost, Building, FF&E and Other | 11,386 | ||||
Subsequently Capitalized Building Improvements and FF&E | 1,163 | ||||
Total Gross Cost | [2] | 16,149 | |||
Accumulated Depreciation | $ (1,521) | ||||
Date of Construction | 2,001 | ||||
Date Acquired | Mar14 | ||||
Number of Rooms | 104 | ||||
Homewood Suites Chattanooga, TN [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
State | TN | ||||
Description | Homewood Suites | ||||
Encumbrances | $ 0 | ||||
Initial Cost, Land | [1] | 1,410 | |||
Initial Cost, Building, FF&E and Other | 9,361 | ||||
Subsequently Capitalized Building Improvements and FF&E | 2,617 | ||||
Total Gross Cost | [2] | 13,388 | |||
Accumulated Depreciation | $ (1,866) | ||||
Date of Construction | 1,997 | ||||
Date Acquired | Mar14 | ||||
Number of Rooms | 76 | ||||
Courtyard Franklin, TN [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
State | TN | ||||
Description | Courtyard | ||||
Encumbrances | $ 14,368 | ||||
Initial Cost, Land | [1] | 2,510 | |||
Initial Cost, Building, FF&E and Other | 31,341 | ||||
Subsequently Capitalized Building Improvements and FF&E | 20 | ||||
Total Gross Cost | [2] | 33,871 | |||
Accumulated Depreciation | $ (1,318) | ||||
Date of Construction | 2,008 | ||||
Date Acquired | Sep16 | ||||
Number of Rooms | 126 | ||||
Residence Inn Franklin, TN [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
State | TN | ||||
Description | Residence Inn | ||||
Encumbrances | $ 14,368 | ||||
Initial Cost, Land | [1] | 2,970 | |||
Initial Cost, Building, FF&E and Other | 29,208 | ||||
Subsequently Capitalized Building Improvements and FF&E | 1,253 | ||||
Total Gross Cost | [2] | 33,431 | |||
Accumulated Depreciation | $ (1,331) | ||||
Date of Construction | 2,009 | ||||
Date Acquired | Sep16 | ||||
Number of Rooms | 124 | ||||
Hampton Jackson, TN [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
State | TN | ||||
Description | Hampton | ||||
Encumbrances | $ 0 | ||||
Initial Cost, Land | [1] | 692 | |||
Initial Cost, Building, FF&E and Other | 12,281 | ||||
Subsequently Capitalized Building Improvements and FF&E | 770 | ||||
Total Gross Cost | [2] | 13,743 | |||
Accumulated Depreciation | $ (3,678) | ||||
Date of Construction | 2,007 | ||||
Date Acquired | Dec08 | ||||
Number of Rooms | 83 | ||||
Courtyard Johnson City, TN [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
State | TN | ||||
Description | Courtyard | ||||
Encumbrances | $ 0 | ||||
Initial Cost, Land | [1] | 1,105 | |||
Initial Cost, Building, FF&E and Other | 8,632 | ||||
Subsequently Capitalized Building Improvements and FF&E | 193 | ||||
Total Gross Cost | [2] | 9,930 | |||
Accumulated Depreciation | $ (2,662) | ||||
Date of Construction | 2,009 | ||||
Date Acquired | Sep09 | ||||
Number of Rooms | 90 | ||||
Homewood Suites Knoxville, TN [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
State | TN | ||||
Description | Homewood Suites | ||||
Encumbrances | $ 0 | ||||
Initial Cost, Land | [1] | 2,160 | |||
Initial Cost, Building, FF&E and Other | 14,704 | ||||
Subsequently Capitalized Building Improvements and FF&E | 57 | ||||
Total Gross Cost | [2] | 16,921 | |||
Accumulated Depreciation | $ (715) | ||||
Date of Construction | 2,005 | ||||
Date Acquired | Sep16 | ||||
Number of Rooms | 103 | ||||
SpringHill Suites Knoxville, TN [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
State | TN | ||||
Description | SpringHill Suites | ||||
Encumbrances | $ 0 | ||||
Initial Cost, Land | [1] | 1,840 | |||
Initial Cost, Building, FF&E and Other | 12,441 | ||||
Subsequently Capitalized Building Improvements and FF&E | 68 | ||||
Total Gross Cost | [2] | 14,349 | |||
Accumulated Depreciation | $ (594) | ||||
Date of Construction | 2,006 | ||||
Date Acquired | Sep16 | ||||
Number of Rooms | 103 | ||||
TownePlace Suites Knoxville, TN [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
State | TN | ||||
Description | TownePlace Suites | ||||
Encumbrances | $ 0 | ||||
Initial Cost, Land | [1] | 1,190 | |||
Initial Cost, Building, FF&E and Other | 7,920 | ||||
Subsequently Capitalized Building Improvements and FF&E | 1,323 | ||||
Total Gross Cost | [2] | 10,433 | |||
Accumulated Depreciation | $ (506) | ||||
Date of Construction | 2,003 | ||||
Date Acquired | Sep16 | ||||
Number of Rooms | 97 | ||||
Homewood Suites Memphis, TN [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
State | TN | ||||
Description | Homewood Suites | ||||
Encumbrances | $ 0 | ||||
Initial Cost, Land | [1] | 1,930 | |||
Initial Cost, Building, FF&E and Other | 13,028 | ||||
Subsequently Capitalized Building Improvements and FF&E | 2,989 | ||||
Total Gross Cost | [2] | 17,947 | |||
Accumulated Depreciation | $ (2,947) | ||||
Date of Construction | 1,989 | ||||
Date Acquired | Mar14 | ||||
Number of Rooms | 140 | ||||
Hilton Garden Inn Nashville, TN [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
State | TN | ||||
Description | Hilton Garden Inn | ||||
Encumbrances | $ 0 | ||||
Initial Cost, Land | [1] | 2,754 | |||
Initial Cost, Building, FF&E and Other | 39,997 | ||||
Subsequently Capitalized Building Improvements and FF&E | 3,823 | ||||
Total Gross Cost | [2] | 46,574 | |||
Accumulated Depreciation | $ (9,917) | ||||
Date of Construction | 2,009 | ||||
Date Acquired | Sep10 | ||||
Number of Rooms | 194 | ||||
Home2 Suites Nashville, TN [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
State | TN | ||||
Description | Home2 Suites | ||||
Encumbrances | $ 0 | ||||
Initial Cost, Land | [1] | 1,153 | |||
Initial Cost, Building, FF&E and Other | 15,206 | ||||
Subsequently Capitalized Building Improvements and FF&E | 170 | ||||
Total Gross Cost | [2] | 16,529 | |||
Accumulated Depreciation | $ (3,181) | ||||
Date of Construction | 2,012 | ||||
Date Acquired | May12 | ||||
Number of Rooms | 119 | ||||
TownePlace Suites Nashville, TN [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
State | TN | ||||
Description | TownePlace Suites | ||||
Encumbrances | $ 0 | ||||
Initial Cost, Land | [1] | 7,390 | |||
Initial Cost, Building, FF&E and Other | 13,929 | ||||
Subsequently Capitalized Building Improvements and FF&E | 16 | ||||
Total Gross Cost | [2] | 21,335 | |||
Accumulated Depreciation | $ (590) | ||||
Date of Construction | 2,012 | ||||
Date Acquired | Sep16 | ||||
Number of Rooms | 101 | ||||
SpringHill Suites Addison, TX [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
State | TX | ||||
Description | SpringHill Suites | ||||
Encumbrances | $ 0 | ||||
Initial Cost, Land | [1] | 1,210 | |||
Initial Cost, Building, FF&E and Other | 19,700 | ||||
Subsequently Capitalized Building Improvements and FF&E | 368 | ||||
Total Gross Cost | [2] | 21,278 | |||
Accumulated Depreciation | $ (2,941) | ||||
Date of Construction | 2,003 | ||||
Date Acquired | Mar14 | ||||
Number of Rooms | 159 | ||||
Hampton Allen, TX [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
State | TX | ||||
Description | Hampton | ||||
Encumbrances | $ 0 | ||||
Initial Cost, Land | [1] | 1,442 | |||
Initial Cost, Building, FF&E and Other | 11,456 | ||||
Subsequently Capitalized Building Improvements and FF&E | 1,581 | ||||
Total Gross Cost | [2] | 14,479 | |||
Accumulated Depreciation | $ (4,626) | ||||
Date of Construction | 2,006 | ||||
Date Acquired | Sep08 | ||||
Number of Rooms | 103 | ||||
Hilton Garden Inn Allen, TX [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
State | TX | ||||
Description | Hilton Garden Inn | ||||
Encumbrances | $ 0 | ||||
Initial Cost, Land | [1] | 2,130 | |||
Initial Cost, Building, FF&E and Other | 16,731 | ||||
Subsequently Capitalized Building Improvements and FF&E | 3,934 | ||||
Total Gross Cost | [2] | 22,795 | |||
Accumulated Depreciation | $ (7,464) | ||||
Date of Construction | 2,002 | ||||
Date Acquired | Oct08 | ||||
Number of Rooms | 150 | ||||
Hampton Arlington, TX [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
State | TX | ||||
Description | Hampton | ||||
Encumbrances | $ 0 | ||||
Initial Cost, Land | [1] | 1,217 | |||
Initial Cost, Building, FF&E and Other | 8,738 | ||||
Subsequently Capitalized Building Improvements and FF&E | 979 | ||||
Total Gross Cost | [2] | 10,934 | |||
Accumulated Depreciation | $ (2,440) | ||||
Date of Construction | 2,007 | ||||
Date Acquired | Dec10 | ||||
Number of Rooms | 98 | ||||
Courtyard Austin, TX [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
State | TX | ||||
Description | Courtyard | ||||
Encumbrances | $ 0 | ||||
Initial Cost, Land | [1] | 1,579 | |||
Initial Cost, Building, FF&E and Other | 18,487 | ||||
Subsequently Capitalized Building Improvements and FF&E | 385 | ||||
Total Gross Cost | [2] | 20,451 | |||
Accumulated Depreciation | $ (4,513) | ||||
Date of Construction | 2,009 | ||||
Date Acquired | Nov10 | ||||
Number of Rooms | 145 | ||||
Fairfield Inn & Suites Austin, TX [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
State | TX | ||||
Description | Fairfield Inn & Suites | ||||
Encumbrances | $ 0 | ||||
Initial Cost, Land | [1] | 1,306 | |||
Initial Cost, Building, FF&E and Other | 16,504 | ||||
Subsequently Capitalized Building Improvements and FF&E | 248 | ||||
Total Gross Cost | [2] | 18,058 | |||
Accumulated Depreciation | $ (4,005) | ||||
Date of Construction | 2,009 | ||||
Date Acquired | Nov10 | ||||
Number of Rooms | 150 | ||||
Hampton Austin, TX [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
State | TX | ||||
Description | Hampton | ||||
Encumbrances | $ 0 | ||||
Initial Cost, Land | [1] | 1,459 | |||
Initial Cost, Building, FF&E and Other | 17,184 | ||||
Subsequently Capitalized Building Improvements and FF&E | 2,188 | ||||
Total Gross Cost | [2] | 20,831 | |||
Accumulated Depreciation | $ (5,946) | ||||
Date of Construction | 1,996 | ||||
Date Acquired | Apr09 | ||||
Number of Rooms | 124 | ||||
Hilton Garden Inn Austin, TX [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
State | TX | ||||
Description | Hilton Garden Inn | ||||
Encumbrances | $ 0 | ||||
Initial Cost, Land | [1] | 1,614 | |||
Initial Cost, Building, FF&E and Other | 14,451 | ||||
Subsequently Capitalized Building Improvements and FF&E | 1,729 | ||||
Total Gross Cost | [2] | 17,794 | |||
Accumulated Depreciation | $ (3,964) | ||||
Date of Construction | 2,008 | ||||
Date Acquired | Nov10 | ||||
Number of Rooms | 117 | ||||
Homewood Suites Austin, TX [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
State | TX | ||||
Description | Homewood Suites | ||||
Encumbrances | $ 0 | ||||
Initial Cost, Land | [1] | 1,898 | |||
Initial Cost, Building, FF&E and Other | 16,462 | ||||
Subsequently Capitalized Building Improvements and FF&E | 2,748 | ||||
Total Gross Cost | [2] | 21,108 | |||
Accumulated Depreciation | $ (6,068) | ||||
Date of Construction | 1,997 | ||||
Date Acquired | Apr09 | ||||
Number of Rooms | 97 | ||||
Homewood Suites Austin/Round Rock, TX [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
State | TX | ||||
Description | Homewood Suites | ||||
Encumbrances | $ 0 | ||||
Initial Cost, Land | [1] | 2,180 | |||
Initial Cost, Building, FF&E and Other | 25,644 | ||||
Subsequently Capitalized Building Improvements and FF&E | 40 | ||||
Total Gross Cost | [2] | 27,864 | |||
Accumulated Depreciation | $ (1,011) | ||||
Date of Construction | 2,010 | ||||
Date Acquired | Sep16 | ||||
Number of Rooms | 115 | ||||
Residence Inn Beaumont, TX [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
State | TX | ||||
Description | Residence Inn | ||||
Encumbrances | $ 0 | ||||
Initial Cost, Land | [1] | 1,177 | |||
Initial Cost, Building, FF&E and Other | 16,180 | ||||
Subsequently Capitalized Building Improvements and FF&E | 1,449 | ||||
Total Gross Cost | [2] | 18,806 | |||
Accumulated Depreciation | $ (5,492) | ||||
Date of Construction | 2,008 | ||||
Date Acquired | Oct08 | ||||
Number of Rooms | 133 | ||||
Hampton Burleson/Fort Worth, TX [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
State | TX | ||||
Description | Hampton | ||||
Encumbrances | $ 0 | ||||
Initial Cost, Land | [1] | 557 | |||
Initial Cost, Building, FF&E and Other | 6,601 | ||||
Subsequently Capitalized Building Improvements and FF&E | 1,297 | ||||
Total Gross Cost | [2] | 8,455 | |||
Accumulated Depreciation | $ (1,068) | ||||
Date of Construction | 2,008 | ||||
Date Acquired | Oct14 | ||||
Number of Rooms | 88 | ||||
Homewood Suites Dallas, TX [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
State | TX | ||||
Description | Homewood Suites | ||||
Encumbrances | $ 0 | ||||
Initial Cost, Land | [1] | 4,920 | |||
Initial Cost, Building, FF&E and Other | 29,427 | ||||
Subsequently Capitalized Building Improvements and FF&E | 35 | ||||
Total Gross Cost | [2] | 34,382 | |||
Accumulated Depreciation | $ (1,275) | ||||
Date of Construction | 2,013 | ||||
Date Acquired | Sep16 | ||||
Number of Rooms | 130 | ||||
Homewood Suites Denton, TX [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
State | TX | ||||
Description | Homewood Suites | ||||
Encumbrances | $ 0 | ||||
Initial Cost, Land | [1] | 990 | |||
Initial Cost, Building, FF&E and Other | 14,895 | ||||
Subsequently Capitalized Building Improvements and FF&E | 117 | ||||
Total Gross Cost | [2] | 16,002 | |||
Accumulated Depreciation | $ (793) | ||||
Date of Construction | 2,009 | ||||
Date Acquired | Sep16 | ||||
Number of Rooms | 107 | ||||
Hilton Garden Inn Duncanville, TX [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
State | TX | ||||
Description | Hilton Garden Inn | ||||
Encumbrances | $ 0 | ||||
Initial Cost, Land | [1] | 2,378 | |||
Initial Cost, Building, FF&E and Other | 15,935 | ||||
Subsequently Capitalized Building Improvements and FF&E | 2,836 | ||||
Total Gross Cost | [2] | 21,149 | |||
Accumulated Depreciation | $ (6,983) | ||||
Date of Construction | 2,005 | ||||
Date Acquired | Oct08 | ||||
Number of Rooms | 142 | ||||
Hilton Garden Inn El Paso, TX [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
State | TX | ||||
Description | Hilton Garden Inn | ||||
Encumbrances | $ 0 | ||||
Initial Cost, Land | [1] | 1,244 | |||
Initial Cost, Building, FF&E and Other | 18,300 | ||||
Subsequently Capitalized Building Improvements and FF&E | 146 | ||||
Total Gross Cost | [2] | 19,690 | |||
Accumulated Depreciation | $ (4,159) | ||||
Date of Construction | 2,011 | ||||
Date Acquired | Dec11 | ||||
Number of Rooms | 145 | ||||
Homewood Suites El Paso, TX [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
State | TX | ||||
Description | Homewood Suites | ||||
Encumbrances | $ 0 | ||||
Initial Cost, Land | [1] | 2,800 | |||
Initial Cost, Building, FF&E and Other | 16,657 | ||||
Subsequently Capitalized Building Improvements and FF&E | 1,719 | ||||
Total Gross Cost | [2] | 21,176 | |||
Accumulated Depreciation | $ (2,245) | ||||
Date of Construction | 2,008 | ||||
Date Acquired | Mar14 | ||||
Number of Rooms | 114 | ||||
Courtyard Fort Worth, TX [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
State | TX | ||||
Description | Courtyard | ||||
Encumbrances | $ 0 | ||||
Initial Cost, Land | [1] | 2,313 | |||
Initial Cost, Building, FF&E and Other | 15,825 | ||||
Subsequently Capitalized Building Improvements and FF&E | 92 | ||||
Total Gross Cost | [2] | 18,230 | |||
Accumulated Depreciation | $ (568) | ||||
Date of Construction | 2,017 | ||||
Date Acquired | Feb17 | ||||
Number of Rooms | 124 | ||||
TownePlace Suites Fort Worth, TX [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
State | TX | ||||
Description | TownePlace Suites | ||||
Encumbrances | $ 0 | ||||
Initial Cost, Land | [1] | 2,104 | |||
Initial Cost, Building, FF&E and Other | 16,311 | ||||
Subsequently Capitalized Building Improvements and FF&E | 235 | ||||
Total Gross Cost | [2] | 18,650 | |||
Accumulated Depreciation | $ (4,124) | ||||
Date of Construction | 2,010 | ||||
Date Acquired | Jul10 | ||||
Number of Rooms | 140 | ||||
Hilton Garden Inn Frisco, TX [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
State | TX | ||||
Description | Hilton Garden Inn | ||||
Encumbrances | $ 0 | ||||
Initial Cost, Land | [1] | 2,507 | |||
Initial Cost, Building, FF&E and Other | 12,981 | ||||
Subsequently Capitalized Building Improvements and FF&E | 1,454 | ||||
Total Gross Cost | [2] | 16,942 | |||
Accumulated Depreciation | $ (4,260) | ||||
Date of Construction | 2,008 | ||||
Date Acquired | Dec08 | ||||
Number of Rooms | 102 | ||||
Hilton Garden Inn Grapevine, TX [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
State | TX | ||||
Description | Hilton Garden Inn | ||||
Encumbrances | $ 10,412 | ||||
Initial Cost, Land | [1] | 1,522 | |||
Initial Cost, Building, FF&E and Other | 15,543 | ||||
Subsequently Capitalized Building Improvements and FF&E | 280 | ||||
Total Gross Cost | [2] | 17,345 | |||
Accumulated Depreciation | $ (4,004) | ||||
Date of Construction | 2,009 | ||||
Date Acquired | Sep10 | ||||
Number of Rooms | 110 | ||||
Courtyard Houston, TX [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
State | TX | ||||
Description | Courtyard | ||||
Encumbrances | $ 0 | ||||
Initial Cost, Land | [1] | 2,080 | |||
Initial Cost, Building, FF&E and Other | 21,836 | ||||
Subsequently Capitalized Building Improvements and FF&E | 0 | ||||
Total Gross Cost | [2] | 23,916 | |||
Accumulated Depreciation | $ (1,003) | ||||
Date of Construction | 2,012 | ||||
Date Acquired | Sep16 | ||||
Number of Rooms | 124 | ||||
Marriott Houston, TX [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
State | TX | ||||
Description | Marriott | ||||
Encumbrances | $ 0 | ||||
Initial Cost, Land | [1] | 4,143 | |||
Initial Cost, Building, FF&E and Other | 46,623 | ||||
Subsequently Capitalized Building Improvements and FF&E | 311 | ||||
Total Gross Cost | [2] | 51,077 | |||
Accumulated Depreciation | $ (12,428) | ||||
Date of Construction | 2,010 | ||||
Date Acquired | Jan10 | ||||
Number of Rooms | 206 | ||||
Residence Inn Houston, TX [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
State | TX | ||||
Description | Residence Inn | ||||
Encumbrances | $ 0 | ||||
Initial Cost, Land | [1] | 12,070 | |||
Initial Cost, Building, FF&E and Other | 19,769 | ||||
Subsequently Capitalized Building Improvements and FF&E | 359 | ||||
Total Gross Cost | [2] | 32,198 | |||
Accumulated Depreciation | $ (3,214) | ||||
Date of Construction | 2,006 | ||||
Date Acquired | Mar14 | ||||
Number of Rooms | 129 | ||||
Residence Inn Houston, TX [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
State | TX | ||||
Description | Residence Inn | ||||
Encumbrances | $ 0 | ||||
Initial Cost, Land | [1] | 2,070 | |||
Initial Cost, Building, FF&E and Other | 11,186 | ||||
Subsequently Capitalized Building Improvements and FF&E | 17 | ||||
Total Gross Cost | [2] | 13,273 | |||
Accumulated Depreciation | $ (578) | ||||
Date of Construction | 2,012 | ||||
Date Acquired | Sep16 | ||||
Number of Rooms | 120 | ||||
Homewood Suites Irving, TX [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
State | TX | ||||
Description | Homewood Suites | ||||
Encumbrances | $ 0 | ||||
Initial Cost, Land | [1] | 705 | |||
Initial Cost, Building, FF&E and Other | 9,610 | ||||
Subsequently Capitalized Building Improvements and FF&E | 1,391 | ||||
Total Gross Cost | [2] | 11,706 | |||
Accumulated Depreciation | $ (3,046) | ||||
Date of Construction | 2,006 | ||||
Date Acquired | Dec10 | ||||
Number of Rooms | 77 | ||||
Hilton Garden Inn Lewisville, TX [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
State | TX | ||||
Description | Hilton Garden Inn | ||||
Encumbrances | $ 0 | ||||
Initial Cost, Land | [1] | 3,361 | |||
Initial Cost, Building, FF&E and Other | 23,919 | ||||
Subsequently Capitalized Building Improvements and FF&E | 2,240 | ||||
Total Gross Cost | [2] | 29,520 | |||
Accumulated Depreciation | $ (8,833) | ||||
Date of Construction | 2,007 | ||||
Date Acquired | Oct08 | ||||
Number of Rooms | 165 | ||||
Hampton Round Rock, TX [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
State | TX | ||||
Description | Hampton | ||||
Encumbrances | $ 0 | ||||
Initial Cost, Land | [1] | 865 | |||
Initial Cost, Building, FF&E and Other | 10,999 | ||||
Subsequently Capitalized Building Improvements and FF&E | 1,539 | ||||
Total Gross Cost | [2] | 13,403 | |||
Accumulated Depreciation | $ (3,991) | ||||
Date of Construction | 2,001 | ||||
Date Acquired | Mar09 | ||||
Number of Rooms | 94 | ||||
TownePlace Suites San Antonio, TX [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
State | TX | ||||
Description | TownePlace Suites | ||||
Encumbrances | $ 0 | ||||
Initial Cost, Land | [1] | 2,220 | |||
Initial Cost, Building, FF&E and Other | 9,610 | ||||
Subsequently Capitalized Building Improvements and FF&E | 1,067 | ||||
Total Gross Cost | [2] | 12,897 | |||
Accumulated Depreciation | $ (1,597) | ||||
Date of Construction | 2,007 | ||||
Date Acquired | Mar14 | ||||
Number of Rooms | 106 | ||||
Courtyard Shenandoah, TX [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
State | TX | ||||
Description | Courtyard | ||||
Encumbrances | $ 0 | ||||
Initial Cost, Land | [1] | 3,350 | |||
Initial Cost, Building, FF&E and Other | 17,256 | ||||
Subsequently Capitalized Building Improvements and FF&E | 0 | ||||
Total Gross Cost | [2] | 20,606 | |||
Accumulated Depreciation | $ (811) | ||||
Date of Construction | 2,014 | ||||
Date Acquired | Sep16 | ||||
Number of Rooms | 124 | ||||
Homewood Suites Stafford, TX [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
State | TX | ||||
Description | Homewood Suites | ||||
Encumbrances | $ 0 | ||||
Initial Cost, Land | [1] | 1,880 | |||
Initial Cost, Building, FF&E and Other | 10,969 | ||||
Subsequently Capitalized Building Improvements and FF&E | 247 | ||||
Total Gross Cost | [2] | 13,096 | |||
Accumulated Depreciation | $ (1,922) | ||||
Date of Construction | 2,006 | ||||
Date Acquired | Mar14 | ||||
Number of Rooms | 78 | ||||
Courtyard Texarkana, TX [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
State | TX | ||||
Description | Courtyard | ||||
Encumbrances | $ 0 | ||||
Initial Cost, Land | [1] | 590 | |||
Initial Cost, Building, FF&E and Other | 7,208 | ||||
Subsequently Capitalized Building Improvements and FF&E | 639 | ||||
Total Gross Cost | [2] | 8,437 | |||
Accumulated Depreciation | $ (1,153) | ||||
Date of Construction | 2,003 | ||||
Date Acquired | Mar14 | ||||
Number of Rooms | 90 | ||||
Hampton Texarkana, TX [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
State | TX | ||||
Description | Hampton | ||||
Encumbrances | $ 0 | ||||
Initial Cost, Land | [1] | 636 | |||
Initial Cost, Building, FF&E and Other | 8,723 | ||||
Subsequently Capitalized Building Improvements and FF&E | 1,144 | ||||
Total Gross Cost | [2] | 10,503 | |||
Accumulated Depreciation | $ (2,547) | ||||
Date of Construction | 2,004 | ||||
Date Acquired | Jan11 | ||||
Number of Rooms | 81 | ||||
TownePlace Suites Texarkana, TX [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
State | TX | ||||
Description | TownePlace Suites | ||||
Encumbrances | $ 0 | ||||
Initial Cost, Land | [1] | 430 | |||
Initial Cost, Building, FF&E and Other | 6,571 | ||||
Subsequently Capitalized Building Improvements and FF&E | [4] | (2,198) | |||
Total Gross Cost | [2] | 4,803 | |||
Accumulated Depreciation | $ (842) | ||||
Date of Construction | 2,006 | ||||
Date Acquired | Mar14 | ||||
Number of Rooms | 85 | ||||
Residence Inn Provo, UT [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
State | UT | ||||
Description | Residence Inn | ||||
Encumbrances | $ 0 | ||||
Initial Cost, Land | [1] | 1,150 | |||
Initial Cost, Building, FF&E and Other | 18,277 | ||||
Subsequently Capitalized Building Improvements and FF&E | 2,127 | ||||
Total Gross Cost | [2] | 21,554 | |||
Accumulated Depreciation | $ (2,757) | ||||
Date of Construction | 1,996 | ||||
Date Acquired | Mar14 | ||||
Number of Rooms | 114 | ||||
Residence Inn Salt Lake City, UT [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
State | UT | ||||
Description | Residence Inn | ||||
Encumbrances | $ 0 | ||||
Initial Cost, Land | [1] | 1,515 | |||
Initial Cost, Building, FF&E and Other | 24,214 | ||||
Subsequently Capitalized Building Improvements and FF&E | 0 | ||||
Total Gross Cost | [2] | 25,729 | |||
Accumulated Depreciation | $ (196) | ||||
Date of Construction | 2,014 | ||||
Date Acquired | Oct17 | ||||
Number of Rooms | 136 | ||||
SpringHill Suites Salt Lake City, UT [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
State | UT | ||||
Description | SpringHill Suites | ||||
Encumbrances | $ 0 | ||||
Initial Cost, Land | [1] | 1,092 | |||
Initial Cost, Building, FF&E and Other | 16,465 | ||||
Subsequently Capitalized Building Improvements and FF&E | 1,169 | ||||
Total Gross Cost | [2] | 18,726 | |||
Accumulated Depreciation | $ (3,997) | ||||
Date of Construction | 2,009 | ||||
Date Acquired | Nov10 | ||||
Number of Rooms | 143 | ||||
Courtyard Alexandria, VA [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
State | VA | ||||
Description | Courtyard | ||||
Encumbrances | $ 0 | ||||
Initial Cost, Land | [1] | 6,860 | |||
Initial Cost, Building, FF&E and Other | 19,681 | ||||
Subsequently Capitalized Building Improvements and FF&E | 3,559 | ||||
Total Gross Cost | [2] | 30,100 | |||
Accumulated Depreciation | $ (3,477) | ||||
Date of Construction | 1,987 | ||||
Date Acquired | Mar14 | ||||
Number of Rooms | 178 | ||||
SpringHill Suites Alexandria, VA [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
State | VA | ||||
Description | SpringHill Suites | ||||
Encumbrances | $ 0 | ||||
Initial Cost, Land | [1] | 5,968 | |||
Initial Cost, Building, FF&E and Other | 0 | ||||
Subsequently Capitalized Building Improvements and FF&E | 18,991 | ||||
Total Gross Cost | [2] | 24,959 | |||
Accumulated Depreciation | $ (5,243) | ||||
Date of Construction | 2,011 | ||||
Date Acquired | Mar09 | ||||
Number of Rooms | 155 | ||||
Courtyard Bristol, VA [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
State | VA | ||||
Description | Courtyard | ||||
Encumbrances | $ 0 | ||||
Initial Cost, Land | [1] | 1,723 | |||
Initial Cost, Building, FF&E and Other | 19,162 | ||||
Subsequently Capitalized Building Improvements and FF&E | 1,846 | ||||
Total Gross Cost | [2] | 22,731 | |||
Accumulated Depreciation | $ (6,824) | ||||
Date of Construction | 2,004 | ||||
Date Acquired | Nov08 | ||||
Number of Rooms | 175 | ||||
Courtyard Charlottesville, VA [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
State | VA | ||||
Description | Courtyard | ||||
Encumbrances | $ 0 | ||||
Initial Cost, Land | [1] | 21,130 | |||
Initial Cost, Building, FF&E and Other | 27,737 | ||||
Subsequently Capitalized Building Improvements and FF&E | 389 | ||||
Total Gross Cost | [2] | 49,256 | |||
Accumulated Depreciation | $ (3,733) | ||||
Date of Construction | 2,000 | ||||
Date Acquired | Mar14 | ||||
Number of Rooms | 139 | ||||
Courtyard Harrisonburg, VA [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
State | VA | ||||
Description | Courtyard | ||||
Encumbrances | $ 0 | ||||
Initial Cost, Land | [1] | 2,480 | |||
Initial Cost, Building, FF&E and Other | 12,757 | ||||
Subsequently Capitalized Building Improvements and FF&E | 383 | ||||
Total Gross Cost | [2] | 15,620 | |||
Accumulated Depreciation | $ (1,808) | ||||
Date of Construction | 1,999 | ||||
Date Acquired | Mar14 | ||||
Number of Rooms | 125 | ||||
Residence Inn Manassas, VA [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
State | VA | ||||
Description | Residence Inn | ||||
Encumbrances | $ 0 | ||||
Initial Cost, Land | [1] | 1,395 | |||
Initial Cost, Building, FF&E and Other | 14,962 | ||||
Subsequently Capitalized Building Improvements and FF&E | 1,661 | ||||
Total Gross Cost | [2] | 18,018 | |||
Accumulated Depreciation | [2] | $ (3,900) | |||
Date of Construction | 2,006 | ||||
Date Acquired | Feb11 | ||||
Number of Rooms | 107 | ||||
Courtyard Richmond, VA [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
State | VA | ||||
Description | Courtyard | ||||
Encumbrances | $ 0 | ||||
Initial Cost, Land | [1] | 2,003 | |||
Initial Cost, Building, FF&E and Other | 0 | ||||
Subsequently Capitalized Building Improvements and FF&E | 22,972 | ||||
Total Gross Cost | [2] | 24,975 | |||
Accumulated Depreciation | $ (2,725) | ||||
Date of Construction | 2,014 | ||||
Date Acquired | Jul12 | ||||
Number of Rooms | 135 | ||||
Marriott Richmond, VA [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
State | VA | ||||
Description | Marriott | ||||
Encumbrances | $ 0 | ||||
Initial Cost, Land | [1] | 0 | |||
Initial Cost, Building, FF&E and Other | 83,698 | ||||
Subsequently Capitalized Building Improvements and FF&E | 5,731 | ||||
Total Gross Cost | [2] | 89,429 | |||
Accumulated Depreciation | $ (12,254) | ||||
Date of Construction | 1,984 | ||||
Date Acquired | Mar14 | ||||
Number of Rooms | 410 | ||||
Residence Inn Richmond, VA [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
State | VA | ||||
Description | Residence Inn | ||||
Encumbrances | $ 0 | ||||
Initial Cost, Land | [1] | 1,113 | |||
Initial Cost, Building, FF&E and Other | 0 | ||||
Subsequently Capitalized Building Improvements and FF&E | 12,717 | ||||
Total Gross Cost | [2] | 13,830 | |||
Accumulated Depreciation | $ (1,511) | ||||
Date of Construction | 2,014 | ||||
Date Acquired | Jul12 | ||||
Number of Rooms | 75 | ||||
SpringHill Suites Richmond, VA [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
State | VA | ||||
Description | SpringHill Suites | ||||
Encumbrances | $ 0 | ||||
Initial Cost, Land | [1] | 1,930 | |||
Initial Cost, Building, FF&E and Other | 10,726 | ||||
Subsequently Capitalized Building Improvements and FF&E | 54 | ||||
Total Gross Cost | [2] | 12,710 | |||
Accumulated Depreciation | $ (589) | ||||
Date of Construction | 2,008 | ||||
Date Acquired | Sep16 | ||||
Number of Rooms | 103 | ||||
Courtyard Suffolk, VA [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
State | VA | ||||
Description | Courtyard | ||||
Encumbrances | $ 0 | ||||
Initial Cost, Land | [1] | 940 | |||
Initial Cost, Building, FF&E and Other | 5,186 | ||||
Subsequently Capitalized Building Improvements and FF&E | 1,247 | ||||
Total Gross Cost | [2] | 7,373 | |||
Accumulated Depreciation | $ (1,105) | ||||
Date of Construction | 2,007 | ||||
Date Acquired | Mar14 | ||||
Number of Rooms | 92 | ||||
TownePlace Suites Suffolk, VA [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
State | VA | ||||
Description | TownePlace Suites | ||||
Encumbrances | $ 0 | ||||
Initial Cost, Land | [1] | 710 | |||
Initial Cost, Building, FF&E and Other | 5,241 | ||||
Subsequently Capitalized Building Improvements and FF&E | 634 | ||||
Total Gross Cost | [2] | 6,585 | |||
Accumulated Depreciation | $ (937) | ||||
Date of Construction | 2,007 | ||||
Date Acquired | Mar14 | ||||
Number of Rooms | 72 | ||||
Courtyard Virginia Beach, VA [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
State | VA | ||||
Description | Courtyard | ||||
Encumbrances | $ 0 | ||||
Initial Cost, Land | [1] | 10,580 | |||
Initial Cost, Building, FF&E and Other | 29,140 | ||||
Subsequently Capitalized Building Improvements and FF&E | 1,782 | ||||
Total Gross Cost | [2] | 41,502 | |||
Accumulated Depreciation | $ (3,579) | ||||
Date of Construction | 1,999 | ||||
Date Acquired | Mar14 | ||||
Number of Rooms | 141 | ||||
Courtyard Virginia Beach, VA [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
State | VA | ||||
Description | Courtyard | ||||
Encumbrances | $ 0 | ||||
Initial Cost, Land | [1] | 12,000 | |||
Initial Cost, Building, FF&E and Other | 40,556 | ||||
Subsequently Capitalized Building Improvements and FF&E | 3,602 | ||||
Total Gross Cost | [2] | 56,158 | |||
Accumulated Depreciation | $ (5,086) | ||||
Date of Construction | 2,002 | ||||
Date Acquired | Mar14 | ||||
Number of Rooms | 160 | ||||
Courtyard Kirkland, WA [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
State | WA | ||||
Description | Courtyard | ||||
Encumbrances | $ 11,042 | ||||
Initial Cost, Land | [1] | 18,950 | |||
Initial Cost, Building, FF&E and Other | 25,028 | ||||
Subsequently Capitalized Building Improvements and FF&E | 271 | ||||
Total Gross Cost | [2] | 44,249 | |||
Accumulated Depreciation | $ (3,691) | ||||
Date of Construction | 2,006 | ||||
Date Acquired | Mar14 | ||||
Number of Rooms | 150 | ||||
Residence Inn Seattle, WA [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
State | WA | ||||
Description | Residence Inn | ||||
Encumbrances | $ 25,687 | ||||
Initial Cost, Land | [1] | 0 | |||
Initial Cost, Building, FF&E and Other | 92,786 | ||||
Subsequently Capitalized Building Improvements and FF&E | 4,593 | ||||
Total Gross Cost | [2] | 97,379 | |||
Accumulated Depreciation | $ (13,353) | ||||
Date of Construction | 1,991 | ||||
Date Acquired | Mar14 | ||||
Number of Rooms | 234 | ||||
Homewood Suites Tukwila, WA [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
State | WA | ||||
Description | Homewood Suites | ||||
Encumbrances | $ 8,549 | ||||
Initial Cost, Land | [1] | 8,130 | |||
Initial Cost, Building, FF&E and Other | 16,659 | ||||
Subsequently Capitalized Building Improvements and FF&E | 4,410 | ||||
Total Gross Cost | [2] | 29,199 | |||
Accumulated Depreciation | $ (2,939) | ||||
Date of Construction | 1,992 | ||||
Date Acquired | Mar14 | ||||
Number of Rooms | 106 | ||||
SpringHil lSuites Vancouver, WA [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
State | WA | ||||
Description | SpringHill Suites | ||||
Encumbrances | $ 0 | ||||
Initial Cost, Land | [1] | 3,010 | |||
Initial Cost, Building, FF&E and Other | 16,162 | ||||
Subsequently Capitalized Building Improvements and FF&E | 1,473 | ||||
Total Gross Cost | [2] | 20,645 | |||
Accumulated Depreciation | $ (2,438) | ||||
Date of Construction | 2,007 | ||||
Date Acquired | Mar14 | ||||
Number of Rooms | 119 | ||||
Corporate Office Richmond, VA [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
State | VA | ||||
Description | Corporate Office | ||||
Encumbrances | $ 0 | ||||
Initial Cost, Land | [1] | 682 | |||
Initial Cost, Building, FF&E and Other | 3,723 | ||||
Subsequently Capitalized Building Improvements and FF&E | 561 | ||||
Total Gross Cost | [2] | 4,966 | |||
Accumulated Depreciation | $ (1,375) | ||||
Date of Construction | 1,893 | ||||
Date Acquired | May13 | ||||
Number of Rooms | |||||
Total [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Encumbrances | $ 457,435 | ||||
Initial Cost, Land | [1] | 720,465 | |||
Initial Cost, Building, FF&E and Other | 4,552,869 | ||||
Subsequently Capitalized Building Improvements and FF&E | 251,109 | ||||
Total Gross Cost | [2] | 5,524,443 | |||
Accumulated Depreciation | $ (731,284) | ||||
Number of Rooms | 30,322 | ||||
Minimum [Member] | Embassy Suites Anchorage, AK [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 3 years | ||||
Minimum [Member] | Home2 Suites Anchorage, AK [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 3 years | ||||
Minimum [Member] | Hilton Garden Inn Auburn, AL [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 3 years | ||||
Minimum [Member] | Courtyard Birmingham, AL [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 3 years | ||||
Minimum [Member] | Hilton Garden Inn Birmingham, AL [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 3 years | ||||
Minimum [Member] | Home2 Suites Birmingham, AL [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 3 years | ||||
Minimum [Member] | Homewood Suites Birmingham, AL [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 3 years | ||||
Minimum [Member] | Hilton Garden Inn Dothan, AL [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 3 years | ||||
Minimum [Member] | Residence Inn Dothan, AL [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 3 years | ||||
Minimum [Member] | Hampton Huntsville, AL [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 3 years | ||||
Minimum [Member] | Hilton Garden Inn Huntsville, AL [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 3 years | ||||
Minimum [Member] | Home2 Suites Huntsville, AL [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 3 years | ||||
Minimum [Member] | Homewood Suites Huntsville, AL [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 3 years | ||||
Minimum [Member] | Hampton Mobile, AL [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 3 years | ||||
Minimum [Member] | Hilton Garden Inn Montgomery, AL [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 3 years | ||||
Minimum [Member] | Homewood Suites Montgomery, AL [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 3 years | ||||
Minimum [Member] | Courtyard Prattville, AL [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 3 years | ||||
Minimum [Member] | Hampton Rogers, AR [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 3 years | ||||
Minimum [Member] | Homewood Suites Rogers, AR [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 3 years | ||||
Minimum [Member] | Residence Inn Rogers, AR [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 3 years | ||||
Minimum [Member] | Residence Inn Springdale, AR [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 3 years | ||||
Minimum [Member] | Courtyard Chandler, AZ [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 3 years | ||||
Minimum [Member] | Fairfield Inn & Suites Chandler, AZ [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 3 years | ||||
Minimum [Member] | Courtyard Phoenix, AZ [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 3 years | ||||
Minimum [Member] | Courtyard Phoenix, AZ [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 3 years | ||||
Minimum [Member] | Hampton Phoenix, AZ [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 3 years | ||||
Minimum [Member] | Homewood Suites Phoenix, AZ [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 3 years | ||||
Minimum [Member] | Residence Inn Phoenix, AZ [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 3 years | ||||
Minimum [Member] | Hilton Garden Inn Scottsdale, AZ [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 3 years | ||||
Minimum [Member] | Hilton Garden Inn Tucson, AZ [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 3 years | ||||
Minimum [Member] | Residence Inn Tucson, AZ [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 3 years | ||||
Minimum [Member] | Towne Place Suites Tucson, AZ [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 3 years | ||||
Minimum [Member] | Homewood Suites Agoura Hills, CA [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 3 years | ||||
Minimum [Member] | Courtyard Burbank, CA [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 3 years | ||||
Minimum [Member] | Residence Inn Burbank, CA [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 3 years | ||||
Minimum [Member] | Spring Hill Suites Burbank, CA [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 3 years | ||||
Minimum [Member] | Hampton Clovis, CA [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 3 years | ||||
Minimum [Member] | Homewood Suites Clovis, CA [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 3 years | ||||
Minimum [Member] | Courtyard Cypress, CA [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 3 years | ||||
Minimum [Member] | Hampton Cypress, CA [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 3 years | ||||
Minimum [Member] | Courtyard Oceanside, CA [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 3 years | ||||
Minimum [Member] | Residence Inn Oceanside, CA [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 3 years | ||||
Minimum [Member] | Courtyard Rancho Bernardo / San Diego, CA [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 3 years | ||||
Minimum [Member] | Hilton Garden Inn Sacramento, CA [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 3 years | ||||
Minimum [Member] | Residence Inn San Bernardino, CA [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 3 years | ||||
Minimum [Member] | Courtyard San Diego, CA [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 3 years | ||||
Minimum [Member] | Hampton San Diego, CA [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 3 years | ||||
Minimum [Member] | Hilton Garden Inn San Diego, CA [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 3 years | ||||
Minimum [Member] | Residence Inn San Diego, CA [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 3 years | ||||
Minimum [Member] | Homewood Suites San Jose, CA [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 3 years | ||||
Minimum [Member] | Residence Inn San Juan Capistrano, CA [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 3 years | ||||
Minimum [Member] | Courtyard Santa Ana, CA [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 3 years | ||||
Minimum [Member] | Courtyard Santa Clarita, CA [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 3 years | ||||
Minimum [Member] | Fairfield Inn Santa Clarita, CA [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 3 years | ||||
Minimum [Member] | Hampton Santa Clarita, CA [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 3 years | ||||
Minimum [Member] | Residence Inn Santa Clarita, CA [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 3 years | ||||
Minimum [Member] | Hampton Tulare,CA [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 3 years | ||||
Minimum [Member] | Fairfield Inn & Suites Tustin, CA [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 3 years | ||||
Minimum [Member] | Residence Inn Tustin, CA [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 3 years | ||||
Minimum [Member] | Hampton Colorado Springs, CO [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 3 years | ||||
Minimum [Member] | Hilton Garden Inn Denver, CO [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 3 years | ||||
Minimum [Member] | Hilton Garden Inn Highlands Ranch, CO [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 3 years | ||||
Minimum [Member] | Residence Inn Highlands Ranch, CO [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 3 years | ||||
Minimum [Member] | Hilton Garden Inn Boca Raton, FL [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 3 years | ||||
Minimum [Member] | Homewood Suites Cape Canaveral, FL [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 3 years | ||||
Minimum [Member] | Hampton Inn Fort Lauderdale, FL [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 3 years | ||||
Minimum [Member] | Hampton Inn Fort Lauderdale, FL [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 3 years | ||||
Minimum [Member] | Residence Inn Fort Lauderdale, FL [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 3 years | ||||
Minimum [Member] | Hilton Garden Inn Gainesville, FL [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 3 years | ||||
Minimum [Member] | Homewood Suites Gainesville, FL [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 3 years | ||||
Minimum [Member] | Homewood Suites Jacksonville, FL [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 3 years | ||||
Minimum [Member] | Courtyard Lakeland, FL [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 3 years | ||||
Minimum [Member] | Courtyard Miami, FL [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 3 years | ||||
Minimum [Member] | Hampton Miami, FL [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 3 years | ||||
Minimum [Member] | Homewood Suites Miami, FL [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 3 years | ||||
Minimum [Member] | Fairfield Inn & Suites Orlando, FL [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 3 years | ||||
Minimum [Member] | SpringHill Suites Orlando, FL [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 3 years | ||||
Minimum [Member] | Hampton Panama City, FL [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 3 years | ||||
Minimum [Member] | TownePlace Suites Panama City, FL [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 3 years | ||||
Minimum [Member] | TownePlace Suites Pensacola, FL [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 3 years | ||||
Minimum [Member] | SpringHill Suites Sanford, FL [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 3 years | ||||
Minimum [Member] | Homewood Suites Sarasota, FL [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 3 years | ||||
Minimum [Member] | Fairfield Inn & Suites Tallahassee, FL [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 3 years | ||||
Minimum [Member] | Hilton Garden Inn Tallahassee, FL [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 3 years | ||||
Minimum [Member] | Embassy Suites Tampa, FL [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 3 years | ||||
Minimum [Member] | TownePlace Suites Tampa, FL [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 3 years | ||||
Minimum [Member] | Fairfield Inn & Suites Albany, GA [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 3 years | ||||
Minimum [Member] | Home2 Suites Atlanta, GA [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 3 years | ||||
Minimum [Member] | SpringHill Suites Columbus, GA [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 3 years | ||||
Minimum [Member] | TownePlace Suites Columbus, GA [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 3 years | ||||
Minimum [Member] | Hilton Garden Inn Macon, GA [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 3 years | ||||
Minimum [Member] | Hilton Garden Inn Savannah, GA [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 3 years | ||||
Minimum [Member] | Hampton Cedar Rapids, IA [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 3 years | ||||
Minimum [Member] | Homewood Suites Cedar Rapids, IA [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 3 years | ||||
Minimum [Member] | Hampton Davenport, IA [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 3 years | ||||
Minimum [Member] | Hampton Boise, ID [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 3 years | ||||
Minimum [Member] | SpringHill Suites Boise, ID [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 3 years | ||||
Minimum [Member] | Hilton Garden Inn Des Plaines, IL [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 3 years | ||||
Minimum [Member] | Hilton Garden Inn Hoffman Estates, IL [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 3 years | ||||
Minimum [Member] | Hilton Garden Inn Mettawa, IL [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 3 years | ||||
Minimum [Member] | Residence Inn Mettawa, IL [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 3 years | ||||
Minimum [Member] | Hampton Rosemont, IL [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 3 years | ||||
Minimum [Member] | Hilton Garden Inn Schaumburg, IL [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 3 years | ||||
Minimum [Member] | Hampton Skokie, IL [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 3 years | ||||
Minimum [Member] | Hilton Garden Inn Warrenville, IL [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 3 years | ||||
Minimum [Member] | SpringHill Suites Indianapolis, IN [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 3 years | ||||
Minimum [Member] | Hilton Garden Inn Merrillville, IN [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 3 years | ||||
Minimum [Member] | Residence Inn Mishawaka, IN [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 3 years | ||||
Minimum [Member] | Fairfield Inn & Suites South Bend, IN [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 3 years | ||||
Minimum [Member] | Fairfield Inn & Suites Overland Park, KS [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 3 years | ||||
Minimum [Member] | Residence Inn Overland Park, KS [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 3 years | ||||
Minimum [Member] | SpringHill Suites Overland Park, KS [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 3 years | ||||
Minimum [Member] | Courtyard Wichita, KS [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 3 years | ||||
Minimum [Member] | SpringHill Suites Baton Rouge, LA [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 3 years | ||||
Minimum [Member] | Hilton Garden Inn Lafayette, LA [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 3 years | ||||
Minimum [Member] | SpringHill Suites Lafayette, LA [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 3 years | ||||
Minimum [Member] | Homewood Suites New Orleans, LA [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 3 years | ||||
Minimum [Member] | SpringHill Suites Andover, MA [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 3 years | ||||
Minimum [Member] | Residence Inn Marlborough, MA [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 3 years | ||||
Minimum [Member] | Hampton Westford, MA [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 3 years | ||||
Minimum [Member] | Residence Inn Westford, MA [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 3 years | ||||
Minimum [Member] | Hilton Garden Inn Annapolis, MD [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 3 years | ||||
Minimum [Member] | Hilton Garden Inn Silver Spring, MD [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 3 years | ||||
Minimum [Member] | Residence Inn Portland, ME [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 3 years | ||||
Minimum [Member] | Hilton Garden Inn Novi, MI [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 3 years | ||||
Minimum [Member] | Hilton Garden Inn Maple Grove, MN [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 3 years | ||||
Minimum [Member] | Hampton Rochester, MN [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 3 years | ||||
Minimum [Member] | Hampton Kansas City, MO [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 3 years | ||||
Minimum [Member] | Residence Inn Kansas City, MO [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 3 years | ||||
Minimum [Member] | Hampton St. Louis, MO [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 3 years | ||||
Minimum [Member] | Hampton St. Louis, MO [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 3 years | ||||
Minimum [Member] | Courtyard Hattiesburg, MS [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 3 years | ||||
Minimum [Member] | Residence Inn Hattiesburg, MS [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 3 years | ||||
Minimum [Member] | Courtyard Carolina Beach, NC [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 3 years | ||||
Minimum [Member] | Fairfield Inn & Suites Charlotte, NC [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 3 years | ||||
Minimum [Member] | Homewood Suites Charlotte, NC [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 3 years | ||||
Minimum [Member] | Homewood Suites Durham, NC [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 3 years | ||||
Minimum [Member] | Home2 Suites Fayetteville, NC [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 3 years | ||||
Minimum [Member] | Residence Inn Fayetteville, NC [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 3 years | ||||
Minimum [Member] | SpringHill Suites Greenboro, NC [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 3 years | ||||
Minimum [Member] | Hampton Holly Springs, NC [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 3 years | ||||
Minimum [Member] | Home2 Suites Jacksonville, NC [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 3 years | ||||
Minimum [Member] | Fairfield Inn & Suites Wilmington, NC [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 3 years | ||||
Minimum [Member] | Courtyard Winston-Salem, NC [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 3 years | ||||
Minimum [Member] | Hampton Winston-Salem, NC [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 3 years | ||||
Minimum [Member] | Courtyard Omaha, NE [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 3 years | ||||
Minimum [Member] | Hampton Omaha, NE [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 3 years | ||||
Minimum [Member] | Hilton Garden Inn Omaha, NE [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 3 years | ||||
Minimum [Member] | Homewood Suites Omaha, NE [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 3 years | ||||
Minimum [Member] | Homewood Suites Cranford, NJ [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 3 years | ||||
Minimum [Member] | Homewood Suites Mahwah, NJ [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 3 years | ||||
Minimum [Member] | Homewood Suites Mount Laurel, NJ [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 3 years | ||||
Minimum [Member] | Courtyard Somerset, NJ [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 3 years | ||||
Minimum [Member] | Courtyard West Orange, NJ [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 3 years | ||||
Minimum [Member] | Hilton Garden Inn Islip/Ronkonkoma, NY [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 3 years | ||||
Minimum [Member] | Renaissance New York, NY [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 3 years | ||||
Minimum [Member] | Courtyard Syracuse, NY [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 3 years | ||||
Minimum [Member] | Residence Inn Syracuse, NY [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 3 years | ||||
Minimum [Member] | Hilton Garden Inn Mason, OH [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 3 years | ||||
Minimum [Member] | Hilton Garden Inn Twinsburg, OH [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 3 years | ||||
Minimum [Member] | Hampton Oklahoma City, OK [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 3 years | ||||
Minimum [Member] | Hilton Garden Inn Oklahoma City, OK [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 3 years | ||||
Minimum [Member] | Homewood Suites Oklahoma City, OK [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 3 years | ||||
Minimum [Member] | Homewood Suites Oklahoma City (West), OK [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 3 years | ||||
Minimum [Member] | Courtyard Collegeville/Philadelphia, PA [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 3 years | ||||
Minimum [Member] | Courtyard Malvern/Philadelphia, PA [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 3 years | ||||
Minimum [Member] | Hampton Pittsburgh, PA [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 3 years | ||||
Minimum [Member] | Home2 Suites Charleston, SC [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 3 years | ||||
Minimum [Member] | Hilton Garden Inn Columbia, SC [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 3 years | ||||
Minimum [Member] | TownePlace Suites Columbia, SC [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 3 years | ||||
Minimum [Member] | Residence Inn Greenville, SC [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 3 years | ||||
Minimum [Member] | Hilton Garden Inn Hilton Head, SC [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 3 years | ||||
Minimum [Member] | Homewood Suites Chattanooga, TN [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 3 years | ||||
Minimum [Member] | Courtyard Franklin, TN [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 3 years | ||||
Minimum [Member] | Residence Inn Franklin, TN [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 3 years | ||||
Minimum [Member] | Hampton Jackson, TN [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 3 years | ||||
Minimum [Member] | Courtyard Johnson City, TN [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 3 years | ||||
Minimum [Member] | Homewood Suites Knoxville, TN [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 3 years | ||||
Minimum [Member] | SpringHill Suites Knoxville, TN [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 3 years | ||||
Minimum [Member] | TownePlace Suites Knoxville, TN [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 3 years | ||||
Minimum [Member] | Homewood Suites Memphis, TN [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 3 years | ||||
Minimum [Member] | Hilton Garden Inn Nashville, TN [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 3 years | ||||
Minimum [Member] | Home2 Suites Nashville, TN [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 3 years | ||||
Minimum [Member] | TownePlace Suites Nashville, TN [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 3 years | ||||
Minimum [Member] | SpringHill Suites Addison, TX [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 3 years | ||||
Minimum [Member] | Hampton Allen, TX [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 3 years | ||||
Minimum [Member] | Hilton Garden Inn Allen, TX [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 3 years | ||||
Minimum [Member] | Hampton Arlington, TX [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 3 years | ||||
Minimum [Member] | Courtyard Austin, TX [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 3 years | ||||
Minimum [Member] | Fairfield Inn & Suites Austin, TX [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 3 years | ||||
Minimum [Member] | Hampton Austin, TX [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 3 years | ||||
Minimum [Member] | Hilton Garden Inn Austin, TX [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 3 years | ||||
Minimum [Member] | Homewood Suites Austin, TX [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 3 years | ||||
Minimum [Member] | Homewood Suites Austin/Round Rock, TX [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 3 years | ||||
Minimum [Member] | Residence Inn Beaumont, TX [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 3 years | ||||
Minimum [Member] | Hampton Burleson/Fort Worth, TX [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 3 years | ||||
Minimum [Member] | Homewood Suites Dallas, TX [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 3 years | ||||
Minimum [Member] | Homewood Suites Denton, TX [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 3 years | ||||
Minimum [Member] | Hilton Garden Inn Duncanville, TX [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 3 years | ||||
Minimum [Member] | Hilton Garden Inn El Paso, TX [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 3 years | ||||
Minimum [Member] | Homewood Suites El Paso, TX [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 3 years | ||||
Minimum [Member] | Courtyard Fort Worth, TX [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 3 years | ||||
Minimum [Member] | TownePlace Suites Fort Worth, TX [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 3 years | ||||
Minimum [Member] | Hilton Garden Inn Frisco, TX [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 3 years | ||||
Minimum [Member] | Hilton Garden Inn Grapevine, TX [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 3 years | ||||
Minimum [Member] | Courtyard Houston, TX [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 3 years | ||||
Minimum [Member] | Marriott Houston, TX [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 3 years | ||||
Minimum [Member] | Residence Inn Houston, TX [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 3 years | ||||
Minimum [Member] | Residence Inn Houston, TX [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 3 years | ||||
Minimum [Member] | Homewood Suites Irving, TX [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 3 years | ||||
Minimum [Member] | Hilton Garden Inn Lewisville, TX [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 3 years | ||||
Minimum [Member] | Hampton Round Rock, TX [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 3 years | ||||
Minimum [Member] | TownePlace Suites San Antonio, TX [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 3 years | ||||
Minimum [Member] | Courtyard Shenandoah, TX [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 3 years | ||||
Minimum [Member] | Homewood Suites Stafford, TX [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 3 years | ||||
Minimum [Member] | Courtyard Texarkana, TX [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 3 years | ||||
Minimum [Member] | Hampton Texarkana, TX [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 3 years | ||||
Minimum [Member] | TownePlace Suites Texarkana, TX [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 3 years | ||||
Minimum [Member] | Residence Inn Provo, UT [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 3 years | ||||
Minimum [Member] | Residence Inn Salt Lake City, UT [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 3 years | ||||
Minimum [Member] | SpringHill Suites Salt Lake City, UT [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 3 years | ||||
Minimum [Member] | Courtyard Alexandria, VA [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 3 years | ||||
Minimum [Member] | SpringHill Suites Alexandria, VA [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 3 years | ||||
Minimum [Member] | Courtyard Bristol, VA [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 3 years | ||||
Minimum [Member] | Courtyard Charlottesville, VA [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 3 years | ||||
Minimum [Member] | Courtyard Harrisonburg, VA [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 3 years | ||||
Minimum [Member] | Residence Inn Manassas, VA [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 3 years | ||||
Minimum [Member] | Courtyard Richmond, VA [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 3 years | ||||
Minimum [Member] | Marriott Richmond, VA [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 3 years | ||||
Minimum [Member] | Residence Inn Richmond, VA [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 3 years | ||||
Minimum [Member] | SpringHill Suites Richmond, VA [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 3 years | ||||
Minimum [Member] | Courtyard Suffolk, VA [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 3 years | ||||
Minimum [Member] | TownePlace Suites Suffolk, VA [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 3 years | ||||
Minimum [Member] | Courtyard Virginia Beach, VA [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 3 years | ||||
Minimum [Member] | Courtyard Virginia Beach, VA [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 3 years | ||||
Minimum [Member] | Courtyard Kirkland, WA [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 3 years | ||||
Minimum [Member] | Residence Inn Seattle, WA [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 3 years | ||||
Minimum [Member] | Homewood Suites Tukwila, WA [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 3 years | ||||
Minimum [Member] | SpringHil lSuites Vancouver, WA [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 3 years | ||||
Minimum [Member] | Corporate Office Richmond, VA [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 3 years | ||||
Maximum [Member] | Embassy Suites Anchorage, AK [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 39 years | ||||
Maximum [Member] | Home2 Suites Anchorage, AK [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 39 years | ||||
Maximum [Member] | Hilton Garden Inn Auburn, AL [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 39 years | ||||
Maximum [Member] | Courtyard Birmingham, AL [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 39 years | ||||
Maximum [Member] | Hilton Garden Inn Birmingham, AL [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 39 years | ||||
Maximum [Member] | Home2 Suites Birmingham, AL [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 39 years | ||||
Maximum [Member] | Homewood Suites Birmingham, AL [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 39 years | ||||
Maximum [Member] | Hilton Garden Inn Dothan, AL [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 39 years | ||||
Maximum [Member] | Residence Inn Dothan, AL [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 39 years | ||||
Maximum [Member] | Hampton Huntsville, AL [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 39 years | ||||
Maximum [Member] | Hilton Garden Inn Huntsville, AL [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 39 years | ||||
Maximum [Member] | Home2 Suites Huntsville, AL [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 39 years | ||||
Maximum [Member] | Homewood Suites Huntsville, AL [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 39 years | ||||
Maximum [Member] | Hampton Mobile, AL [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 39 years | ||||
Maximum [Member] | Hilton Garden Inn Montgomery, AL [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 39 years | ||||
Maximum [Member] | Homewood Suites Montgomery, AL [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 39 years | ||||
Maximum [Member] | Courtyard Prattville, AL [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 39 years | ||||
Maximum [Member] | Hampton Rogers, AR [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 39 years | ||||
Maximum [Member] | Homewood Suites Rogers, AR [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 39 years | ||||
Maximum [Member] | Residence Inn Rogers, AR [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 39 years | ||||
Maximum [Member] | Residence Inn Springdale, AR [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 39 years | ||||
Maximum [Member] | Courtyard Chandler, AZ [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 39 years | ||||
Maximum [Member] | Fairfield Inn & Suites Chandler, AZ [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 39 years | ||||
Maximum [Member] | Courtyard Phoenix, AZ [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 39 years | ||||
Maximum [Member] | Courtyard Phoenix, AZ [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 39 years | ||||
Maximum [Member] | Hampton Phoenix, AZ [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 39 years | ||||
Maximum [Member] | Homewood Suites Phoenix, AZ [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 39 years | ||||
Maximum [Member] | Residence Inn Phoenix, AZ [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 39 years | ||||
Maximum [Member] | Hilton Garden Inn Scottsdale, AZ [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 39 years | ||||
Maximum [Member] | Hilton Garden Inn Tucson, AZ [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 39 years | ||||
Maximum [Member] | Residence Inn Tucson, AZ [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 39 years | ||||
Maximum [Member] | Towne Place Suites Tucson, AZ [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 39 years | ||||
Maximum [Member] | Homewood Suites Agoura Hills, CA [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 39 years | ||||
Maximum [Member] | Courtyard Burbank, CA [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 39 years | ||||
Maximum [Member] | Residence Inn Burbank, CA [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 39 years | ||||
Maximum [Member] | Spring Hill Suites Burbank, CA [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 39 years | ||||
Maximum [Member] | Hampton Clovis, CA [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 39 years | ||||
Maximum [Member] | Homewood Suites Clovis, CA [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 39 years | ||||
Maximum [Member] | Courtyard Cypress, CA [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 39 years | ||||
Maximum [Member] | Hampton Cypress, CA [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 39 years | ||||
Maximum [Member] | Courtyard Oceanside, CA [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 39 years | ||||
Maximum [Member] | Residence Inn Oceanside, CA [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 39 years | ||||
Maximum [Member] | Courtyard Rancho Bernardo / San Diego, CA [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 39 years | ||||
Maximum [Member] | Hilton Garden Inn Sacramento, CA [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 39 years | ||||
Maximum [Member] | Residence Inn San Bernardino, CA [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 39 years | ||||
Maximum [Member] | Courtyard San Diego, CA [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 39 years | ||||
Maximum [Member] | Hampton San Diego, CA [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 39 years | ||||
Maximum [Member] | Hilton Garden Inn San Diego, CA [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 39 years | ||||
Maximum [Member] | Residence Inn San Diego, CA [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 39 years | ||||
Maximum [Member] | Homewood Suites San Jose, CA [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 39 years | ||||
Maximum [Member] | Residence Inn San Juan Capistrano, CA [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 39 years | ||||
Maximum [Member] | Courtyard Santa Ana, CA [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 39 years | ||||
Maximum [Member] | Courtyard Santa Clarita, CA [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 39 years | ||||
Maximum [Member] | Fairfield Inn Santa Clarita, CA [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 39 years | ||||
Maximum [Member] | Hampton Santa Clarita, CA [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 39 years | ||||
Maximum [Member] | Residence Inn Santa Clarita, CA [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 39 years | ||||
Maximum [Member] | Hampton Tulare,CA [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 39 years | ||||
Maximum [Member] | Fairfield Inn & Suites Tustin, CA [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 39 years | ||||
Maximum [Member] | Residence Inn Tustin, CA [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 39 years | ||||
Maximum [Member] | Hampton Colorado Springs, CO [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 39 years | ||||
Maximum [Member] | Hilton Garden Inn Denver, CO [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 39 years | ||||
Maximum [Member] | Hilton Garden Inn Highlands Ranch, CO [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 39 years | ||||
Maximum [Member] | Residence Inn Highlands Ranch, CO [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 39 years | ||||
Maximum [Member] | Hilton Garden Inn Boca Raton, FL [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 39 years | ||||
Maximum [Member] | Homewood Suites Cape Canaveral, FL [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 39 years | ||||
Maximum [Member] | Hampton Inn Fort Lauderdale, FL [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 39 years | ||||
Maximum [Member] | Hampton Inn Fort Lauderdale, FL [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 39 years | ||||
Maximum [Member] | Residence Inn Fort Lauderdale, FL [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 39 years | ||||
Maximum [Member] | Hilton Garden Inn Gainesville, FL [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 39 years | ||||
Maximum [Member] | Homewood Suites Gainesville, FL [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 39 years | ||||
Maximum [Member] | Homewood Suites Jacksonville, FL [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 39 years | ||||
Maximum [Member] | Courtyard Lakeland, FL [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 39 years | ||||
Maximum [Member] | Courtyard Miami, FL [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 39 years | ||||
Maximum [Member] | Hampton Miami, FL [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 39 years | ||||
Maximum [Member] | Homewood Suites Miami, FL [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 39 years | ||||
Maximum [Member] | Fairfield Inn & Suites Orlando, FL [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 39 years | ||||
Maximum [Member] | SpringHill Suites Orlando, FL [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 39 years | ||||
Maximum [Member] | Hampton Panama City, FL [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 39 years | ||||
Maximum [Member] | TownePlace Suites Panama City, FL [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 39 years | ||||
Maximum [Member] | TownePlace Suites Pensacola, FL [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 39 years | ||||
Maximum [Member] | SpringHill Suites Sanford, FL [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 39 years | ||||
Maximum [Member] | Homewood Suites Sarasota, FL [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 39 years | ||||
Maximum [Member] | Fairfield Inn & Suites Tallahassee, FL [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 39 years | ||||
Maximum [Member] | Hilton Garden Inn Tallahassee, FL [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 39 years | ||||
Maximum [Member] | Embassy Suites Tampa, FL [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 39 years | ||||
Maximum [Member] | TownePlace Suites Tampa, FL [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 39 years | ||||
Maximum [Member] | Fairfield Inn & Suites Albany, GA [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 39 years | ||||
Maximum [Member] | Home2 Suites Atlanta, GA [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 39 years | ||||
Maximum [Member] | SpringHill Suites Columbus, GA [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 39 years | ||||
Maximum [Member] | TownePlace Suites Columbus, GA [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 39 years | ||||
Maximum [Member] | Hilton Garden Inn Macon, GA [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 39 years | ||||
Maximum [Member] | Hilton Garden Inn Savannah, GA [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 39 years | ||||
Maximum [Member] | Hampton Cedar Rapids, IA [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 39 years | ||||
Maximum [Member] | Homewood Suites Cedar Rapids, IA [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 39 years | ||||
Maximum [Member] | Hampton Davenport, IA [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 39 years | ||||
Maximum [Member] | Hampton Boise, ID [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 39 years | ||||
Maximum [Member] | SpringHill Suites Boise, ID [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 39 years | ||||
Maximum [Member] | Hilton Garden Inn Des Plaines, IL [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 39 years | ||||
Maximum [Member] | Hilton Garden Inn Hoffman Estates, IL [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 39 years | ||||
Maximum [Member] | Hilton Garden Inn Mettawa, IL [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 39 years | ||||
Maximum [Member] | Residence Inn Mettawa, IL [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 39 years | ||||
Maximum [Member] | Hampton Rosemont, IL [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 39 years | ||||
Maximum [Member] | Hilton Garden Inn Schaumburg, IL [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 39 years | ||||
Maximum [Member] | Hampton Skokie, IL [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 39 years | ||||
Maximum [Member] | Hilton Garden Inn Warrenville, IL [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 39 years | ||||
Maximum [Member] | SpringHill Suites Indianapolis, IN [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 39 years | ||||
Maximum [Member] | Hilton Garden Inn Merrillville, IN [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 39 years | ||||
Maximum [Member] | Residence Inn Mishawaka, IN [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 39 years | ||||
Maximum [Member] | Fairfield Inn & Suites South Bend, IN [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 39 years | ||||
Maximum [Member] | Fairfield Inn & Suites Overland Park, KS [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 39 years | ||||
Maximum [Member] | Residence Inn Overland Park, KS [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 39 years | ||||
Maximum [Member] | SpringHill Suites Overland Park, KS [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 39 years | ||||
Maximum [Member] | Courtyard Wichita, KS [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 39 years | ||||
Maximum [Member] | SpringHill Suites Baton Rouge, LA [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 39 years | ||||
Maximum [Member] | Hilton Garden Inn Lafayette, LA [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 39 years | ||||
Maximum [Member] | SpringHill Suites Lafayette, LA [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 39 years | ||||
Maximum [Member] | Homewood Suites New Orleans, LA [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 39 years | ||||
Maximum [Member] | SpringHill Suites Andover, MA [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 39 years | ||||
Maximum [Member] | Residence Inn Marlborough, MA [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 39 years | ||||
Maximum [Member] | Hampton Westford, MA [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 39 years | ||||
Maximum [Member] | Residence Inn Westford, MA [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 39 years | ||||
Maximum [Member] | Hilton Garden Inn Annapolis, MD [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 39 years | ||||
Maximum [Member] | Hilton Garden Inn Silver Spring, MD [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 39 years | ||||
Maximum [Member] | Residence Inn Portland, ME [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 39 years | ||||
Maximum [Member] | Hilton Garden Inn Novi, MI [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 39 years | ||||
Maximum [Member] | Hilton Garden Inn Maple Grove, MN [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 39 years | ||||
Maximum [Member] | Hampton Rochester, MN [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 39 years | ||||
Maximum [Member] | Hampton Kansas City, MO [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 39 years | ||||
Maximum [Member] | Residence Inn Kansas City, MO [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 39 years | ||||
Maximum [Member] | Hampton St. Louis, MO [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 39 years | ||||
Maximum [Member] | Hampton St. Louis, MO [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 39 years | ||||
Maximum [Member] | Courtyard Hattiesburg, MS [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 39 years | ||||
Maximum [Member] | Residence Inn Hattiesburg, MS [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 39 years | ||||
Maximum [Member] | Courtyard Carolina Beach, NC [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 39 years | ||||
Maximum [Member] | Fairfield Inn & Suites Charlotte, NC [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 39 years | ||||
Maximum [Member] | Homewood Suites Charlotte, NC [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 39 years | ||||
Maximum [Member] | Homewood Suites Durham, NC [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 39 years | ||||
Maximum [Member] | Home2 Suites Fayetteville, NC [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 39 years | ||||
Maximum [Member] | Residence Inn Fayetteville, NC [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 39 years | ||||
Maximum [Member] | SpringHill Suites Greenboro, NC [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 39 years | ||||
Maximum [Member] | Hampton Holly Springs, NC [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 39 years | ||||
Maximum [Member] | Home2 Suites Jacksonville, NC [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 39 years | ||||
Maximum [Member] | Fairfield Inn & Suites Wilmington, NC [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 39 years | ||||
Maximum [Member] | Courtyard Winston-Salem, NC [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 39 years | ||||
Maximum [Member] | Hampton Winston-Salem, NC [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 39 years | ||||
Maximum [Member] | Courtyard Omaha, NE [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 39 years | ||||
Maximum [Member] | Hampton Omaha, NE [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 39 years | ||||
Maximum [Member] | Hilton Garden Inn Omaha, NE [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 39 years | ||||
Maximum [Member] | Homewood Suites Omaha, NE [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 39 years | ||||
Maximum [Member] | Homewood Suites Cranford, NJ [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 39 years | ||||
Maximum [Member] | Homewood Suites Mahwah, NJ [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 39 years | ||||
Maximum [Member] | Homewood Suites Mount Laurel, NJ [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 39 years | ||||
Maximum [Member] | Courtyard Somerset, NJ [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 25 years | ||||
Maximum [Member] | Courtyard West Orange, NJ [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 39 years | ||||
Maximum [Member] | Hilton Garden Inn Islip/Ronkonkoma, NY [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 39 years | ||||
Maximum [Member] | Renaissance New York, NY [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 32 years | ||||
Maximum [Member] | Courtyard Syracuse, NY [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 39 years | ||||
Maximum [Member] | Residence Inn Syracuse, NY [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 39 years | ||||
Maximum [Member] | Hilton Garden Inn Mason, OH [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 39 years | ||||
Maximum [Member] | Hilton Garden Inn Twinsburg, OH [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 39 years | ||||
Maximum [Member] | Hampton Oklahoma City, OK [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 39 years | ||||
Maximum [Member] | Hilton Garden Inn Oklahoma City, OK [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 39 years | ||||
Maximum [Member] | Homewood Suites Oklahoma City, OK [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 39 years | ||||
Maximum [Member] | Homewood Suites Oklahoma City (West), OK [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 39 years | ||||
Maximum [Member] | Courtyard Collegeville/Philadelphia, PA [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 39 years | ||||
Maximum [Member] | Courtyard Malvern/Philadelphia, PA [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 39 years | ||||
Maximum [Member] | Hampton Pittsburgh, PA [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 39 years | ||||
Maximum [Member] | Home2 Suites Charleston, SC [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 39 years | ||||
Maximum [Member] | Hilton Garden Inn Columbia, SC [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 39 years | ||||
Maximum [Member] | TownePlace Suites Columbia, SC [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 39 years | ||||
Maximum [Member] | Residence Inn Greenville, SC [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 39 years | ||||
Maximum [Member] | Hilton Garden Inn Hilton Head, SC [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 39 years | ||||
Maximum [Member] | Homewood Suites Chattanooga, TN [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 39 years | ||||
Maximum [Member] | Courtyard Franklin, TN [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 39 years | ||||
Maximum [Member] | Residence Inn Franklin, TN [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 39 years | ||||
Maximum [Member] | Hampton Jackson, TN [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 39 years | ||||
Maximum [Member] | Courtyard Johnson City, TN [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 39 years | ||||
Maximum [Member] | Homewood Suites Knoxville, TN [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 39 years | ||||
Maximum [Member] | SpringHill Suites Knoxville, TN [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 39 years | ||||
Maximum [Member] | TownePlace Suites Knoxville, TN [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 39 years | ||||
Maximum [Member] | Homewood Suites Memphis, TN [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 39 years | ||||
Maximum [Member] | Hilton Garden Inn Nashville, TN [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 39 years | ||||
Maximum [Member] | Home2 Suites Nashville, TN [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 39 years | ||||
Maximum [Member] | TownePlace Suites Nashville, TN [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 39 years | ||||
Maximum [Member] | SpringHill Suites Addison, TX [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 39 years | ||||
Maximum [Member] | Hampton Allen, TX [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 39 years | ||||
Maximum [Member] | Hilton Garden Inn Allen, TX [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 39 years | ||||
Maximum [Member] | Hampton Arlington, TX [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 39 years | ||||
Maximum [Member] | Courtyard Austin, TX [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 39 years | ||||
Maximum [Member] | Fairfield Inn & Suites Austin, TX [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 39 years | ||||
Maximum [Member] | Hampton Austin, TX [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 39 years | ||||
Maximum [Member] | Hilton Garden Inn Austin, TX [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 39 years | ||||
Maximum [Member] | Homewood Suites Austin, TX [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 39 years | ||||
Maximum [Member] | Homewood Suites Austin/Round Rock, TX [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 39 years | ||||
Maximum [Member] | Residence Inn Beaumont, TX [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 39 years | ||||
Maximum [Member] | Hampton Burleson/Fort Worth, TX [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 39 years | ||||
Maximum [Member] | Homewood Suites Dallas, TX [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 39 years | ||||
Maximum [Member] | Homewood Suites Denton, TX [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 39 years | ||||
Maximum [Member] | Hilton Garden Inn Duncanville, TX [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 39 years | ||||
Maximum [Member] | Hilton Garden Inn El Paso, TX [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 39 years | ||||
Maximum [Member] | Homewood Suites El Paso, TX [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 39 years | ||||
Maximum [Member] | Courtyard Fort Worth, TX [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 39 years | ||||
Maximum [Member] | TownePlace Suites Fort Worth, TX [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 39 years | ||||
Maximum [Member] | Hilton Garden Inn Frisco, TX [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 39 years | ||||
Maximum [Member] | Hilton Garden Inn Grapevine, TX [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 39 years | ||||
Maximum [Member] | Courtyard Houston, TX [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 39 years | ||||
Maximum [Member] | Marriott Houston, TX [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 39 years | ||||
Maximum [Member] | Residence Inn Houston, TX [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 39 years | ||||
Maximum [Member] | Residence Inn Houston, TX [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 39 years | ||||
Maximum [Member] | Homewood Suites Irving, TX [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 39 years | ||||
Maximum [Member] | Hilton Garden Inn Lewisville, TX [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 39 years | ||||
Maximum [Member] | Hampton Round Rock, TX [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 39 years | ||||
Maximum [Member] | TownePlace Suites San Antonio, TX [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 39 years | ||||
Maximum [Member] | Courtyard Shenandoah, TX [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 39 years | ||||
Maximum [Member] | Homewood Suites Stafford, TX [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 39 years | ||||
Maximum [Member] | Courtyard Texarkana, TX [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 39 years | ||||
Maximum [Member] | Hampton Texarkana, TX [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 39 years | ||||
Maximum [Member] | TownePlace Suites Texarkana, TX [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 39 years | ||||
Maximum [Member] | Residence Inn Provo, UT [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 39 years | ||||
Maximum [Member] | Residence Inn Salt Lake City, UT [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 39 years | ||||
Maximum [Member] | SpringHill Suites Salt Lake City, UT [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 39 years | ||||
Maximum [Member] | Courtyard Alexandria, VA [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 39 years | ||||
Maximum [Member] | SpringHill Suites Alexandria, VA [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 39 years | ||||
Maximum [Member] | Courtyard Bristol, VA [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 39 years | ||||
Maximum [Member] | Courtyard Charlottesville, VA [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 39 years | ||||
Maximum [Member] | Courtyard Harrisonburg, VA [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 39 years | ||||
Maximum [Member] | Residence Inn Manassas, VA [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 39 years | ||||
Maximum [Member] | Courtyard Richmond, VA [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 39 years | ||||
Maximum [Member] | Marriott Richmond, VA [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 39 years | ||||
Maximum [Member] | Residence Inn Richmond, VA [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 39 years | ||||
Maximum [Member] | SpringHill Suites Richmond, VA [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 39 years | ||||
Maximum [Member] | Courtyard Suffolk, VA [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 39 years | ||||
Maximum [Member] | TownePlace Suites Suffolk, VA [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 39 years | ||||
Maximum [Member] | Courtyard Virginia Beach, VA [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 39 years | ||||
Maximum [Member] | Courtyard Virginia Beach, VA [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 39 years | ||||
Maximum [Member] | Courtyard Kirkland, WA [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 39 years | ||||
Maximum [Member] | Residence Inn Seattle, WA [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 35 years | ||||
Maximum [Member] | Homewood Suites Tukwila, WA [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 39 years | ||||
Maximum [Member] | SpringHil lSuites Vancouver, WA [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 39 years | ||||
Maximum [Member] | Corporate Office Richmond, VA [Member] | |||||
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Schedule of Real Estate and Accumulated Depreciation [Line Items] | |||||
Depreciable Life | 39 years | ||||
[1] | Land is owned fee simple unless cost is $0, which means the property is subject to a ground lease. | ||||
[2] | The aggregate cost for federal income tax purposes is approximately $5.2 billion at December 31, 2017 (unaudited). | ||||
[3] | The Hilton Garden Inn and Home2 Suites hotels in Birmingham, AL are part of an adjoining two-hotel complex located on the same site. | ||||
[4] | Amount includes a reduction in cost due to recognition of an impairment loss. | ||||
[5] | As of December 31, 2016, the Company had one hotel classified as held for sale, which was not included in this schedule, and was sold during 2017. As of December 31, 2014, the Company had 19 hotels classified as held for sale which were not included in this schedule, of which 18 of the hotels were sold and the remaining hotel (Columbus, Georgia TownePlace Suites) was reclassified as held and used during 2015. |
SCHEDULE III, Real Estate and65
SCHEDULE III, Real Estate and Accumulated Depreciation Disclosure (Details) - Rollforward of Real Estate Owned and Accumulated Depreciation - USD ($) $ in Thousands | 12 Months Ended | |||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | ||
Rollforward of Real Estate Owned and Accumulated Depreciation [Abstract] | ||||
Balance as of January 1 | $ 5,381,086 | $ 4,064,824 | $ 3,789,380 | |
Acquisitions | 162,734 | 1,319,986 | 255,636 | |
Improvements and Development Costs | 69,081 | 63,364 | 59,565 | |
Dispositions | (42,583) | (11,951) | (2,238) | |
Assets Held for Sale | [1] | 0 | (49,666) | 7,481 |
Impairment of Depreciable Assets | (45,875) | (5,471) | (45,000) | |
Balance at December 31 | 5,524,443 | 5,381,086 | 4,064,824 | |
Balance as of January 1 | (557,597) | (423,057) | (296,559) | |
Depreciation Expense | (175,581) | (147,244) | (126,530) | |
Accumulated Depreciation on Dispositions | 1,894 | 2,038 | 257 | |
Assets Held for Sale | [1] | 0 | 10,666 | (225) |
Balance at December 31 | $ (731,284) | $ (557,597) | $ (423,057) | |
[1] | As of December 31, 2016, the Company had one hotel classified as held for sale, which was not included in this schedule, and was sold during 2017. As of December 31, 2014, the Company had 19 hotels classified as held for sale which were not included in this schedule, of which 18 of the hotels were sold and the remaining hotel (Columbus, Georgia TownePlace Suites) was reclassified as held and used during 2015. |