Hospitality Investors Trust (HPITQ) 10-Q 14 Aug 14 2014 Q2 Quarterly report Financial data

Document_and_Entity_Informatio

Document and Entity Information Document	6 Months Ended
	Jun. 30, 2014	Jul. 31, 2014
Document and Entity Information [Abstract]	'	'
Entity Registrant Name	'AMERICAN REALTY CAPITAL HOSPITALITY TRUST, INC.	'
Entity Central Index Key	'0001583077	'
Current Fiscal Year End Date	'--12-31	'
Entity Filer Category	'Smaller Reporting Company	'
Document Type	'10-Q	'
Document Period End Date	30-Jun-14	'
Document Fiscal Year Focus	'2014	'
Document Fiscal Period Focus	'Q2	'
Amendment Flag	'false	'
Entity Common Stock, Shares Outstanding	'	2,106,530

CONDENSED_CONSOLIDATEDCOMBINED

CONDENSED CONSOLIDATED/COMBINED BALANCE SHEETS (USD $)	Jun. 30, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified	Successor	Predecessor
Real estate investments:	'	'
Land	$12,308	$15,878
Buildings and improvements	79,598	118,356
Furniture, fixtures and equipment	5,238	13,297
Total real estate investments	97,144	147,531
Less: accumulated depreciation and amortization	-1,012	-31,390
Total real estate investments, net	96,132	116,141
Cash and cash equivalents	4,730	10,520
Restricted cash	3,499	1,522
Investments in unconsolidated entities	7,481	4,381
Below-market lease obligation, net	8,276	0
Prepaid expenses and other assets	6,267	1,830
Deferred financing fees, net	1,378	848
Acquisition deposit	50,000	0
Total Assets	177,763	135,242
LIABILITIES AND EQUITY	'	'
Mortgage note payable	45,500	41,449
Promissory notes payable	64,849	0
Affiliate note payable	36,800	0
Accounts payable and accrued expenses	15,885	5,297
Due to affiliates	3,243	0
Total liabilities	166,277	46,746
Preferred stock, $0.01 par value, 50,000,000 shares authorized, none issued and outstanding	0	0
Common stock, $0.01 par value, 300,000,000 shares authorized, 874,308 and 8,888 shares issued and outstanding, respectively	9	0
Additional paid-in capital	17,023	0
Deficit	-5,546	0
Members' equity	0	88,496
Total equity	11,486	88,496
Total Liabilities and Equity	$177,763	$135,242

CONDENSED_CONSOLIDATEDCOMBINED1

CONDENSED CONSOLIDATED/COMBINED BALANCE SHEETS (Parenthetical) (USD $)	Jun. 30, 2014	Dec. 31, 2013
	Successor	Predecessor
Preferred stock, par value (in dollars per share)	$0.01	$0.01
Preferred stock, authorized	50,000,000	50,000,000
Preferred stock, issued	0	0
Preferred stock, outstanding	0	0
Common stock, par value (in dollars per share)	$0.01	$0.01
Common stock, authorized	300,000,000	300,000,000
Common stock, issued	874,308	8,888
Common stock, outstanding (in shares)	874,308	8,888

CONDENSED_CONSOLIDATEDCOMBINED2

CONDENSED CONSOLIDATED/COMBINED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS) (USD $)	3 Months Ended				6 Months Ended
	Jun. 30, 2014	Jun. 30, 2014	Mar. 20, 2014	Jun. 30, 2013	Jun. 30, 2014
	Successor	Successor	Predecessor	Predecessor	Predecessor
Revenues	'	'	'	'	'
Rooms	$8,543,000	$9,508,000	$6,026,000	$8,411,000	$14,964,000
Food and beverage	1,790,000	2,021,000	1,543,000	1,673,000	3,182,000
Other	1,127,000	1,251,000	676,000	904,000	1,618,000
Total revenue	11,460,000	12,780,000	8,245,000	10,988,000	19,764,000
Operating expenses	'	'	'	'	'
Rooms	1,710,000	1,913,000	1,405,000	1,624,000	3,120,000
Food and beverage	1,202,000	1,338,000	1,042,000	1,133,000	2,272,000
Management fees - related party	465,000	511,000	289,000	396,000	705,000
Other property-level operating expenses	4,324,000	4,831,000	3,490,000	4,056,000	7,764,000
Depreciation and amortization	890,000	1,012,000	994,000	1,339,000	2,622,000
Rent	1,223,000	1,353,000	933,000	1,074,000	2,136,000
Total operating expenses	9,814,000	10,958,000	8,153,000	9,622,000	18,619,000
Income from operations	1,646,000	1,822,000	92,000	1,366,000	1,145,000
Interest expense	2,031,000	2,243,000	531,000	566,000	1,105,000
Acquisition and transaction related costs	-187,000	-4,645,000	0	0	0
Equity in earnings (losses) of unconsolidated entities	2,346,000	2,346,000	-166,000	178,000	-33,000
General and administrative	-779,000	-1,469,000	0	0	0
Total expenses	-651,000	-6,011,000	-697,000	-388,000	-1,138,000
Net income (loss) before taxes	995,000	-4,189,000	-605,000	978,000	7,000
Provision for income tax	1,077,000	1,175,000	0	0	0
Net income (loss)	-82,000	-5,364,000	-605,000	978,000	7,000
Comprehensive income	($82,000)	($5,364,000)	($605,000)	$978,000	$7,000
Basic and diluted net loss per share (in dollars per share)	($0.21)	($22.86)	'	'	'
Basic and diluted weighted average shares outstanding (in shares)	398,796	234,621	'	'	'

CONDENSED_CONSOLIDATEDCOMBINED3

CONDENSED CONSOLIDATED/COMBINED STATEMENT OF CHANGES IN EQUITY (USD $)	Total	Common Stock	Additional Paid-in Capital	Deficit	Total Stockholders' Equity	Members' Equity
In Thousands, except Share data, unless otherwise specified
Beginning balance at Dec. 31, 2012	'	'	'	'	'	'
Increase (Decrease) in Stockholders' Equity [Roll Forward]	'	'	'	'	'	'
Common stock issued through Distribution Reinvestment Plan (in shares)	'	0	'	'	'	'
Ending balance at Dec. 31, 2013	'	$0	'	($6)	'	'
Ending balance (in shares) at Dec. 31, 2013	'	8,888	'	'	'	'
Beginning balance at Jul. 24, 2013	'	'	'	'	'	'
Increase (Decrease) in Stockholders' Equity [Roll Forward]	'	'	'	'	'	'
Common stock issued through Distribution Reinvestment Plan (in shares)	'	834	'	'	'	'
Ending balance at Jun. 30, 2014	'	9	'	'	'	'
Ending balance (in shares) at Jun. 30, 2014	'	874,308	'	'	'	'
Beginning balance at Dec. 31, 2013	88,690	0	200	-6	194	88,496
Beginning balance (in shares) at Dec. 31, 2013	'	8,888	'	'	'	'
Increase (Decrease) in Stockholders' Equity [Roll Forward]	'	'	'	'	'	'
Issuance of common stock (in shares)	'	105,609	'	'	'	'
Issuance of common stock	2,418	1	2,417	'	2,418	'
Net loss	-605	'	'	'	'	-605
Distributions	-800	'	'	'	'	-800
Common stock offering costs, commissions and dealer manager fees	-1,529	'	-1,529	'	-1,529	'
Ending balance at Mar. 20, 2014	88,174	1	1,088	-6	1,083	87,091
Ending balance (in shares) at Mar. 20, 2014	'	114,497	'	'	'	'
Increase (Decrease) in Stockholders' Equity [Roll Forward]	'	'	'	'	'	'
Issuance of common stock (in shares)	'	758,977	'	'	'	'
Issuance of common stock	18,874	8	18,866	'	18,874	'
Net loss	-5,364	'	'	-5,364	-5,364	'
Distributions	-176	'	'	-176	-176	'
Common stock offering costs, commissions and dealer manager fees	-2,960	'	-2,960	'	-2,960	'
Proceeds received from Successor for the assets of Predecessor	-87,091	'	'	'	'	-87,091
Common stock issued through Distribution Reinvestment Plan (in shares)	'	834	'	'	'	'
Common stock issued through Distribution Reinvestment Plan	20	'	20	'	20	'
Share-based payments	9	'	9	'	9	'
Ending balance at Jun. 30, 2014	$11,486	$9	$17,023	($5,546)	$11,486	$0
Ending balance (in shares) at Jun. 30, 2014	874,308	874,308	'	'	'	'

CONDENSED_CONSOLIDATEDCOMBINED4

CONDENSED CONSOLIDATED/COMBINED STATEMENTS OF CASH FLOWS (USD $)	3 Months Ended				6 Months Ended
In Thousands, unless otherwise specified	Jun. 30, 2014		Mar. 20, 2014		Jun. 30, 2013
	Successor		Predecessor		Predecessor
Cash flows from operating activities:	'		'		'
Net income (loss)	($5,364)		($605)		$7
Adjustments to reconcile net income (loss) to net cash (used in) provided by operating activities:	'		'		'
Depreciation and amortization	1,012		994		2,622
Amortization of deferred financing costs	223		75		106
Amortization of below-market lease obligation	124		0		0
Accretion of deferred consideration	24		0		0
Accretion of contingent consideration	146		0		0
Equity in (gains) losses of unconsolidated entities	-2,346		166		33
Share-based compensation	9		0		0
Changes in assets and liabilities:	'		'		'
Prepaid expenses and other assets	-2,611		-581		-169
Restricted cash	-870		0		0
Accounts payable and accrued expenses	5,767		-605		925
Net cash (used in) provided by operating activities	-3,886		-556		3,524
Cash flows from investing activities:	'		'		'
Acquisition of hotel assets of the Predecessor	-41,390		0		0
Purchases of real estate investments	-424		-83		-3,312
Acquisition deposit	-50,000		0		0
(Increase) decrease in restricted cash	-2,010		-468		1,046
Net cash used in investing activities	-93,824		-551		-2,266
Cash flows from financing activities:	'		'		'
Proceeds from issuance of common stock, net	20,195		0		0
Dividends paid	-62		0		0
Contributions from members	0		0		200
Distribution to members	0		-800		-931
Affiliate financing advancement	2,599		0		0
Proceeds from affiliate note payable used to fund acquisition deposit	40,500		0		0
Repayment of affiliate note payable used to fund acquisition deposit	-3,700		0		0
Payments of offering costs	-2,766		0		0
Payments of mortgage note payable	0		-137		-135
Proceeds from mortgage note payable	45,500		0		3,440
Proceeds from promissory note payable	1,775		0		0
Deferred financing fees	-1,601		0		-31
Net cash provided by (used in) financing activities	102,440		-937		2,543
Net change in cash	4,730		-2,044		3,801
Cash and cash equivalents, beginning of period	0		10,520		7,652
Cash and cash equivalents, end of period	4,730		8,476		11,453
Supplemental disclosure of cash flow information:	'		'		'
Interest paid	1,276		458		484
Distribution receivable from unconsolidated entities	245		0		0
Reclassification of deferred offering costs to additional paid-in capital	1,505		0		0
Offering costs in accrued expenses	771		0		0
Proceeds receivable from share sales	1,097	[1]	0	[1]	0	[1]
Seller financing of real estate investments	58,074		0		0
Seller financing of investment in unconsolidated entities	5,000		0		0
Contingent consideration on acquisition	4,100		0		0
Deferred consideration on acquisition	3,400		0		0
Dividends declared but not paid	114		0		0
Distribution to member by unconsolidated entities	0		0		44
Common stock issued through distribution reinvestment plan	$20		$0		$0
[1]	The proceeds receivable from the sale of shares of common equity was received by the Company prior to the filing date of this Quarterly Report on Form 10-Q.

Organization

Organization	6 Months Ended
	Jun. 30, 2014
Organization, Consolidation and Presentation of Financial Statements [Abstract]	'
Organization	'
	Organization
	American Realty Capital Hospitality Trust, Inc. (the "Company") was incorporated on July 25, 2013 as a Maryland corporation and intends to qualify as a real estate investment trust for U.S. federal income tax purposes ("REIT") beginning with the taxable year ending December 31, 2014. The Company was formed primarily to acquire lodging properties in the midscale limited service, extended stay, select service, upscale select service, and upper upscale full service segments within the hospitality sector. The Company has no limitation as to the brand of franchise or license with which the Company's hotels will be associated. All such properties may be acquired by the Company alone or jointly with another party. The Company may also originate or acquire first mortgage loans secured by real estate and invest in other real estate-related debt. As of June 30, 2014, the Company has acquired interests in six hotels through fee simple, leasehold and joint venture interests (the "Hotels").
	On January 7, 2014, the Company commenced its initial public offering ("IPO" or the "Offering") on a "reasonable best efforts" basis of up to 80,000,000 shares of common stock, $0.01 par value per share, at a price of $25.00 per share, subject to certain volume and other discounts, pursuant to a registration statement on Form S-11 (File No. 333-190698), as amended (the "Registration Statement"), filed with the U.S. Securities and Exchange Commission (the "SEC") under the Securities Act of 1933, as amended. The Registration Statement also covered up to 21,052,631 shares of common stock available pursuant to the Distribution Reinvestment Plan (the "DRIP") under which the Company's common stockholders may elect to have their distributions reinvested in additional shares of the Company's common stock.
	Until the filing of the Company's second quarterly financial filing with the SEC, pursuant to the Securities Exchange Act of 1934, as amended, following the earlier to occur of (i) the Company's acquisition of at least $2.0 billion in total investment portfolio assets or (ii) January 7, 2016, the per share purchase price in the IPO will be up to $25.00 per share (including the maximum allowed to be charged for commissions and fees) and shares issued under the DRIP will initially be equal to $23.75 per share, which is 95% of the initial per share offering price in the IPO. Thereafter, the per share purchase price will vary quarterly and will be equal to the Company's net asset value ("NAV") per share plus applicable commissions and fees in the case of the primary offering, and the per share purchase price in the DRIP will be equal to the NAV per share. On February 3, 2014, the Company received and accepted subscriptions in excess of the minimum offering amount of $2.0 million in Offering proceeds, broke escrow and issued shares of common stock to the initial investors who were admitted as stockholders. As of June 30, 2014, the Company had 0.9 million shares of stock outstanding and had received total gross proceeds from the IPO of approximately $21.5 million, including shares issued under the DRIP. As of June 30, 2014, the aggregate value of all the common stock outstanding was $21.9 million based on a per share value of $25.00 (or $23.75 for shares issued under the DRIP).
	Substantially all of the Company's business is conducted through American Realty Capital Hospitality Operating Partnership, L.P. (the "OP"), a Delaware limited partnership. The Company is the sole general partner and holds substantially all of the units of limited partner interests in the OP ("OP Units"). Additionally, American Realty Capital Hospitality Special Limited Partner, LLC (the "Special Limited Partner") contributed $2,020 to the OP in exchange for 90 OP Units, which represents a nominal percentage of the aggregate OP ownership. The holders of OP Units have the right to convert OP Units for the cash value of a corresponding number of shares of common stock or, at the option of the OP, a corresponding number of shares of common stock of the Company in accordance with the limited partnership agreement of the OP. The remaining rights of the limited partner interests are limited, however, and do not include the ability to replace the general partner or to approve the sale, purchase or refinancing of the OP's assets.
	The Company has no direct employees. The Company has retained American Realty Capital Hospitality Advisor, LLC ("the Advisor") to manage certain aspects of its affairs on a day-to-day basis. American Realty Capital Hospitality Properties, LLC (the "Property Manager") serves as the Company's property manager and the Property Manager has retained Crestline Hotels & Resorts, LLC (the "Sub Property Manager"), an entity under common control with the parent of American Realty Capital IX, LLC, (the "Sponsor") to provide services, including locating investments, negotiating financing and operating certain hotel assets in the Company's portfolio. Realty Capital Securities, LLC (the "Dealer Manager"), an entity under common control with the Sponsor serves as the dealer manager of the offering. The Advisor, Special Limited Partner, Property Manager, Sub Property Manager and Dealer Manager are related parties and receive fees, distributions and other compensation for services related to the Offering and the investment and management of the Company's assets.
	Pending Acquisition
	On May 23, 2014, the Company entered into a Real Estate Sale Agreement to acquire (the "Grace Acquisition") the fee simple or leasehold interests in 126 hotels (the "Portfolio") from W2007 Equity Inns Realty, LLC, W2007 Equity Inns Realty, L.P., W2007 EQI Urbana Partnership, L.P., W2007 EQI Seattle Partnership, L.P., W2007 EQI Savannah 2 Partnership, L.P., W2007 EQI Rio Rancho Partnership, L.P., W2007 EQI Orlando Partnership, L.P., W2007 EQI Orlando 2 Partnership, L.P., W2007 EQI Naperville Partnership, L.P., W2007 EQI Milford Corporation, W2007 EQI Louisville Partnership, L.P., W2007 EQI Knoxville Partnership, L.P., W2007 EQI Jacksonville Partnership I, L.P., W2007 EQI Indianapolis Partnership, L.P., W2007 EQI Houston Partnership, L.P., W2007 EQI HI Austin Partnership, L.P., W2007 EQI East Lansing Partnership, L.P., W2007 EQI Dalton Partnership, L.P., W2007 EQI College Station Partnership, L.P., W2007 EQI Carlsbad Partnership, L.P., W2007 EQI Augusta Partnership, L.P. and W2007 EQI Asheville Partnership, L.P. (collectively, the "Sellers") which are indirectly owned by one or more Whitehall Real Estate Funds, an investment arm controlled by The Goldman Sachs Group, Inc.
	The aggregate contract purchase price for the Portfolio is approximately $1.925 billion, exclusive of closing costs and subject to certain adjustments at closing. The Company anticipates funding approximately $271.0 million of the purchase price with cash generated through equity raises, funding approximately $976.0 million through the assumption of existing mezzanine and mortgage indebtedness and funding approximately $227.0 million through additional mortgage and mezzanine financing. The mortgage indebtedness that the Company expects to assume is for $865.0 million at an interest rate of London Interbank Offered Rate ("LIBOR") plus 3.11% and the mezzanine indebtedness is for $111.0 million at an interest rate of LIBOR plus 4.77%. Both the mortgage and mezzanine indebtedness are secured by 106 of the 126 hotels in the Portfolio and mature on May 1, 2016, subject to three (one-year) extension rights which, if all three are exercised, result in an outside maturity date of May 1, 2019.
	Consistent with the terms of the Grace Acquisition, the Company anticipates that the remaining $451.0 million of the contract purchase price will be satisfied by the issuance of preferred equity interests in two newly-formed Delaware limited liability companies, ARC Hospitality Portfolio I Holdco, LLC and ARC Hospitality Portfolio II Holdco, LLC, each of which will be an indirect subsidiary of the Company and an indirect owner of the Portfolio. The holders of the preferred equity interests are entitled to monthly distributions at a rate of 7.50% per annum for the first 18 months following closing and 8.00% per annum thereafter. On liquidation, the preferred equity interests will be entitled to receive their original value (as reduced by redemptions) prior to any distributions being made to the Company or its shareholders. After the earlier to occur of either (i) the date of repayment in full of currently outstanding unsecured obligations of the Company in the original principal amount of approximately $63.0 million, which represents the portfolio owned assets and joint venture promissory notes, or (ii) the date the gross amount of IPO proceeds received by the Company exceeds $150.0 million (See Note 7 - Promissory Notes Payable), the Company will be required to use 35.0% of any IPO proceeds to redeem the preferred equity interests at par, up to a maximum of $350.0 million for any 12-month period. The Company is also required, in certain circumstances, to apply debt proceeds to redeem the preferred equity interests at par. As of the end of the third year following the closing of the Grace Acquisition, the Company is required to have redeemed 50.0% of the preferred equity interests, and as of the end of the fourth year following the closing of the Grace Acquisition, the Company is required to redeem 100.0% of the preferred equity interests remaining outstanding at such time. In addition, the Company has the right, at its option, to redeem the preferred equity interests, in whole or in part, at any time at par. The holders of the preferred equity interests will have certain customary consent rights over actions by the Company relating to the Portfolio. If the Company is unable to satisfy the redemptions requirements, the holders of the preferred equity interests will have certain rights, including the ability to assume control of the operations of the Portfolio. Due to their characteristics and the fact that they are mandatorily redeemable, the preferred equity interests will be treated as debt in accordance with accounting principles generally accepted in the United States of America ("GAAP").
	Pursuant to the terms of the Grace Acquisition, the Company’s obligation to consummate the acquisition of the Portfolio is subject to certain customary closing conditions. Among these customary conditions, the Company must enter into replacement franchise agreements for each hotel and the Company must obtain the consent of certain ground lessors for certain hotels. The Company was required to make a $50.0 million earnest money deposit, with an additional $25.0 million due if the Company exercises its right to extend closing of the acquisition to December 15, 2014. This right was exercised on July 21, 2014 (See Note 15 - Subsequent Events).

Summary_of_Significant_Account

Summary of Significant Accounting Policies	6 Months Ended
	Jun. 30, 2014
Accounting Policies [Abstract]	'
Summary of Significant Accounting Policies	'
	Summary of Significant Accounting Policies
	The accompanying condensed consolidated/combined financial statements of the Company included herein were prepared GAAP for interim financial information and with the instructions to this Quarterly Report on Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by GAAP for complete financial statements. The information furnished includes all adjustments and accruals of a normal recurring nature, which, in the opinion of management, are necessary for a fair presentation of results for the interim periods. All intercompany accounts and transactions have been eliminated in consolidation. The results of operations for the period from January 1 to March 20, 2014 for the Barceló Portfolio (the "Predecessor") and for the period from March 21 to June 30, 2014 for the Company (the "Successor") are not necessarily indicative of the results for the entire year or any subsequent interim period. Certain prior period amounts have been reclassified to conform to current period presentation.
	These financial statements should be read in conjunction with the audited consolidated financial statements and notes thereto as of and for the year ended December 31, 2013, which are included in the Company's Annual Report on Form 10-K filed with the SEC on April 7, 2014.
	Development Stage Company
	On February 3, 2014, the Company raised proceeds sufficient to break escrow in connection with its IPO. The Company received and accepted aggregate subscriptions in excess of the minimum $2.0 million and issued shares of common stock to its initial investors who were admitted as stockholders. The Company acquired interests in six hotels through fee simple, leasehold and joint venture interests and commenced operations on March 21, 2014, and as of such date was no longer considered to be a development stage company.
	Principles of Consolidation/Combination and Basis of Presentation
	The accompanying condensed consolidated/combined financial statements include the accounts of the Company and its subsidiaries. All inter-company accounts and transactions have been eliminated in consolidation. In determining whether the Company has a controlling financial interest in a joint venture and the requirement to consolidate the accounts of that entity, management considers factors such as ownership interest, authority to make decisions and contractual and substantive participating rights of the other partners or members as well as whether the entity is a variable interest entity for which the Company is the primary beneficiary.
	The Predecessor represents hospitality assets and operations owned by Barceló Crestline Corporation and its consolidated subsidiaries ("BCC"), which historically have been maintained in various legal entities. Historically, financial statements have not been prepared for the Predecessor as a discrete stand-alone entity. The accompanying condensed consolidated/combined financial statements for the Predecessor as of December 31, 2013, for the period from January 1 to March 20, 2014 and for the three and six months ended June 30, 2013 have been derived from the historical accounting records of BCC and reflect the assets, liabilities, equity, revenue and expenses directly attributable to the Predecessor, as well as allocations deemed reasonable by management, to present the combined financial position, results of operations, changes in equity, and cash flows of the Predecessor on a stand-alone basis. Included in the accompanying condensed consolidated/combined statement of operations for the period from March 21 to June 30, 2014 is $0.2 million of costs related to the Company for the period from January 1 to March 20, 2014. No costs related to the Company for the period from January 1 to March 20, 2014 were included in the condensed consolidated statement of operations for the three months ended June 30, 2014.
	Non-cash deferred consideration used to fund the acquisition of the Hotels in the amount of $3.2 million was originally presented as a cash outflow from investing activities and a cash inflow from operating activities as a component of changes in prepaid and other assets for the period from March 21 to March 31, 2014. This amount has been removed from net cash used in investing activities and net cash used in operating activities in these condensed consolidated financial statements. This amount is considered immaterial to the prior period to which it relates. Additionally, the Company included the comparative non-cash disclosure to reconcile the purchase price to the cash paid for the acquisition of the Hotels.
	Use of Estimates
	The preparation of the accompanying condensed consolidated/combined financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Management makes significant estimates regarding revenue recognition, purchase price allocations to record investments in real estate and real estate taxes, as applicable.
	Real Estate Investments
	The Company allocates the purchase price of properties acquired in real estate investments to tangible and identifiable intangible assets acquired based on their respective fair values at the date of acquisition. Tangible assets include land, land improvements, buildings and fixtures. The Company utilizes various estimates, processes and information to determine the property value. Estimates of value are made using customary methods, including data from appraisals, comparable sales, discounted cash flow analysis and other methods. Amounts allocated to land, land improvements, buildings and fixtures are based on cost segregation studies performed by independent third parties or on the Company’s analysis of comparable properties in the Company’s portfolio. Identifiable intangible assets and liabilities, as applicable, are typically related to contracts, including operating lease agreements, ground lease agreements and hotel management agreements, which will be recorded at fair value.
	In making estimates of fair values for purposes of allocating the purchase price, the Company utilizes a number of sources, including independent appraisals that may be obtained in connection with the acquisition or financing of the respective property and other market data. The Company also considers information obtained about each property as a result of the Company’s pre-acquisition due diligence in estimating the fair value of the tangible and intangible assets acquired and intangible liabilities assumed.
	Investments in real estate that are not considered to be business combinations are recorded at cost. Improvements and replacements are capitalized when they extend the useful life of the asset. Costs of repairs and maintenance are expensed as incurred. Depreciation of the Company's assets is computed using the straight-line method over the estimated useful lives of up to 40 years for buildings, 15 years for land improvements, five years for fixtures and the shorter of the useful life or the remaining lease term for leasehold interests.
	The Company is required to make subjective assessments as to the useful lives of the Company’s assets for purposes of determining the amount of depreciation to record on an annual basis with respect to the Company’s investments in real estate. These assessments have a direct impact on the Company’s net income because if the Company were to shorten the expected useful lives of the Company’s investments in real estate, the Company would depreciate these investments over fewer years, resulting in more depreciation expense and lower net income on an annual basis.
	The Company is required to present the operations related to properties that have been sold or properties that are intended to be sold as discontinued operations in the statement of operations at fair value for all periods presented to the extent the disposal of a component represents a strategic shift that has or will have a major effect on the Company’s operations and financial results.
	Below-Market Lease
	The below-market lease intangible is based on the difference between the market rent and the contractual rent and is discounted to a present value using an interest rate reflecting the Company's current assessment of the risk associated with the lease acquired. Acquired lease intangible assets are amortized over the remaining lease term. The amortization of a below-market lease is recorded as an increase to rent expense on the condensed consolidated/combined statements of operations.
	Impairment of Long Lived Assets and Investments in Unconsolidated Entities
	When circumstances indicate the carrying value of a property may not be recoverable, the Company reviews the asset for impairment. This review is based on an estimate of the future undiscounted cash flows, excluding interest charges, expected to result from the property’s use and eventual disposition. The estimates consider factors such as expected future operating income, market and other applicable trends and residual value, as well as the effects of demand, competition and other factors. If impairment exists, due to the inability to recover the carrying value of a property, an impairment loss will be recorded to the extent that the carrying value exceeds the estimated fair value of the property for properties to be held and used. For properties held for sale, the impairment loss is the adjustment to fair value less estimated cost to dispose of the asset. These assessments have a direct impact on net income because recording an impairment loss results in an immediate negative adjustment to net income. No such impairment losses were recorded in the periods presented.
	Cash and Cash Equivalents
	Cash and cash equivalents includes cash in bank accounts as well as investments in highly-liquid money market funds with original maturities of three months or less.
	Restricted Cash
	Restricted cash consists of amounts required under mortgage agreements for future capital improvements to owned assets, future interest and property tax payments and excess cash flow deposits due to mortgage agreement restrictions. For purposes of the statement of cash flows, changes in restricted cash caused by changes to the amount needed for future capital improvements are treated as investing activities and changes related to future interest and real estate tax payments and excess cash flow deposits are treated as operating activities.
	Deferred Financing Fees
	Deferred financing fees represent commitment fees, legal fees and other costs associated with obtaining commitments for financing. These fees are amortized over the terms of the respective financing agreements using the effective interest method. Unamortized deferred financing fees are expensed when the associated debt is refinanced or repaid before maturity. Costs incurred in seeking financial transactions that do not close are expensed in the period in which it is determined that the financing will not be successful.
	Variable Interest Entities
	Accounting Standards Codification ("ASC") 810, Consolidation contains the guidance surrounding the definition of variable interest entities ("VIE"), the definition of variable interests and the consolidation rules surrounding VIEs. In general, VIEs are entities in which equity investors lack the characteristics of a controlling financial interest or do not have sufficient equity at risk for the entity to finance its activities without additional subordinated financial support. The Company has variable interests in VIEs through its investments in entities which own the Westin Virginia Beach Town Center (the "Westin Virginia Beach") and the Hilton Garden Inn Blacksburg.
	Once it is determined that the Company holds a variable interest in an entity, GAAP requires that the Company perform a qualitative analysis to determine (i) which entity has the power to direct the matters that most significantly impact the VIE’s financial performance; and (ii) if the Company has the obligation to absorb the losses of the VIE that could potentially be significant to the VIE or the right to receive the benefits of the VIE that could potentially be significant to the VIE. The entity that has both of these characteristics is deemed to be the primary beneficiary and is required to consolidate the VIE (See Note 4 - Variable Interest Entities and Investments in Unconsolidated Entities).
	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 services.
	Share-Based Payments
	The Company has a share-based incentive award plan, which is accounted for under the guidance for share-based payments. The expense for such awards will be included in general and administrative expenses and is recognized over the vesting period or when the requirements for exercise of the award have been met (See Note 14 - Share-Based Payments).
	Income Taxes
	The Company intends to elect and qualify to be taxed as a REIT under Sections 856 through 860 of the Internal Revenue Code commencing with its tax year ending December 31, 2014. If the Company qualifies for taxation as a REIT, it generally will not be subject to federal corporate income tax as long as it distributes 90% of its REIT taxable income to its stockholders and complies with various other organizational and operational requirements applicable to it as a REIT. Even if the Company qualifies for taxation as a REIT, it may be subject to certain state and local taxes on its income, property tax and federal income and excise taxes on its undistributed income. The Company's hotels are leased to a taxable REIT subsidiary ("TRS") which is a wholly owned subsidiary of the OP. The TRS is subject to federal, state and local income taxes.
	Earnings/Loss per Share
	The Company calculates basic income per share by dividing net income or loss for the period by the weighted-average shares of its common stock outstanding for a respective period. Diluted income per share takes into account the effect of dilutive instruments, such as stock options and unvested restricted stock, except when doing so would be anti-dilutive.
	Advertising Costs
	The Company expenses advertising costs as incurred. These costs were $0.1 million for the three months ended June 30, 2014 and $0.2 million combined between the Predecessor and the Company for the six months ended June 30, 2014. These costs were $0.1 million and $0.2 million for the Predecessor for the three and six months ended June 30, 2013, respectively.
	Allowance for Doubtful Accounts
	Receivables consist principally of trade receivables from customers and are generally unsecured and are due within 30 to 90 days. The Company records a provision for uncollectible accounts using the allowance method. Expected credit losses associated with trade receivables are recorded as an allowance for doubtful accounts. The allowance for doubtful accounts is estimated based upon historical patterns of credit losses for aged receivables as well as specific provisions for certain identifiable, potentially uncollectible balances. When internal collection efforts on accounts have been exhausted, the accounts are written off and the associated allowance for doubtful accounts is reduced. Trade receivable balances, net of the allowance for doubtful accounts, are included in prepaid expenses and other assets in the accompanying condensed consolidated/combined balance sheets, and are as follows (in thousands):
		Successor			Predecessor
		June 30, 2014			December 31, 2013
	Trade receivables	$	1,672		$	788
	Allowance for doubtful accounts	(45		)	(26		)
	Trade receivables, net of allowance	$	1,627		$	762
	Reportable Segments
	The Company has determined that it has one reportable segment, with activities related to investing in real estate. The Company’s investments in real estate generate room revenue and other income through the operation of the properties, which comprise 100% of the total consolidated/combined revenues. Management evaluates the operating performance of the Company’s investments in real estate on an individual property level, none of which represent a reportable segment.
	Recently Issued Accounting Pronouncements
	In April 2014, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") 2014-08 Presentation of Financial Statements (Topic 205) and Property, Plant and Equipment (Topic 360) - Reporting Discontinued Operations and Disclosure of Disposal of Components of an Entity. Under this standard, a disposal of a component of an entity or a group of components of an entity is required to be reported in discontinued operations only if the disposal represents a strategic shift that has, or will have, a major effect on an entity’s operations and financial results.  In addition, it requires an entity to present, for each comparative period, the assets and liabilities of a disposal group that includes a discontinued operation separately in the asset and liability sections, respectively, of the statement of financial position. As a result, the operations of sold properties through the date of their disposal will be included in continuing operations, unless the sale represents a strategic shift. However, the gain or loss on the sale of a property will be reported separately below income from continuing operations. The Company adopted this ASU as of January 1, 2014. No prior year restatements are permitted for this change in policy. For purposes of earnings per share calculation, beginning in 2014 gains and losses on property sales will be included in continuing operations.
	On May 28, 2014, the FASB issued ASU 2014-09 Revenue from Contracts with Customers ("ASU 2014-09"), which requires an entity to recognize the amount of revenue to which it expects to be entitled for the transfer of promised goods or services to customers. ASU 2014-09 will replace most existing revenue recognition guidance in GAAP when it becomes effective. The new standard is effective for the Company on January 1, 2017. Early application is not permitted. The standard permits the use of either the retrospective or cumulative effect transition method. The Company is evaluating the effect that ASU 2014-09 will have on its consolidated financial statements and related disclosures. The Company has not yet selected a transition method nor has it determined the effect of the standard on its ongoing financial reporting.

Real_Estate_Investments

Real Estate Investments	6 Months Ended
	Jun. 30, 2014
Business Combinations [Abstract]	'
Real Estate Investments	'
	Real Estate Investments
	On March 21, 2014, the Company acquired interests in six hotels through fee simple, leasehold and joint venture interests. The aggregate purchase price of the Hotels was approximately $112.0 million, exclusive of closing costs. The Hotels consist of (i) three wholly owned hotel assets (the "Portfolio Owned Assets"), the Baltimore Courtyard Inner Harbor Hotel (the "Baltimore Courtyard"), the Courtyard Providence Downtown Hotel (the "Providence Courtyard") and the Homewood Suites by Hilton Stratford (the "Stratford Homewood Suites"); (ii) one leased asset, the Georgia Tech Hotel & Conference Center (the "Georgia Tech Hotel"); and (iii) equity interests in two joint ventures (the "Joint Venture Assets") that each own one hotel, the Westin Virginia Beach and the Hilton Garden Inn Blacksburg.
	The following table presents the allocation of the assets acquired and liabilities assumed by the Company as of March 21, 2014 (in thousands):
		Successor
		As of March 21, 2014
	Assets acquired and liabilities assumed
	Land	$	12,308
	Buildings and improvements	79,192
	Below-market lease obligation	8,400
	Furniture, fixtures and equipment	5,220
	Restricted cash	619
	Investment in unconsolidated entities	5,380
	Prepaid expenses and other assets	2,314
	Accounts payable and accrued expenses	(1,469		)
	Total assets acquired and liabilities assumed	111,964
	Contingent consideration on acquisition	(4,100		)
	Seller financing of real estate investments	(58,074		)
	Seller financing of investment in unconsolidated entities	(5,000		)
	Deferred consideration	(3,400		)
	Total assets acquired, net	$	41,390
	The Company is still finalizing the fair value of certain tangible and intangible assets acquired and adjustments may be made to the preliminary purchase price allocation shown above. Pro forma information as if the above acquisitions during the six months ended June 30, 2014 had been consummated on January 1, 2013 have not been presented as the results for the Predecessor for the six months ended June 30, 2014 and for the six months ended June 30, 2013 are included in the condensed consolidated/combined statements of operations.
	Contingent consideration included as part of the acquisition is payable to BCC in 2016 based on the operating results of the Baltimore Courtyard, Providence Courtyard and Stratford Homewood Suites. Additionally, deferred consideration payable to BCC of $3.0 million and $0.5 million is payable on March 21, 2015 and March 21, 2016, respectively (See Note 11 - Commitments and Contingencies for further information on the preceding). The fair value of the contingent consideration on acquisition of $4.1 million and the deferred consideration of $3.4 million are included in accounts payable and accrued expenses and the seller financing of real estate investments and seller financing of investment in unconsolidated entities are included in promissory notes payable on the accompanying condensed consolidated/combined balance sheets.

Variable_Interest_Entities_and

Variable Interest Entities and Investments in Unconsolidated Entities	6 Months Ended
	Jun. 30, 2014
Variable Interest Entities and Investments in Unconsolidated Affiliates [Abstract]	'
Variable Interest Entities and Investments in Unconsolidated Entities	'
	Variable Interest Entities and Investments in Unconsolidated Entities
	The Company's accompanying condensed consolidated/combined financial statements and the Predecessor's combined financial statements include investments in (i) an entity that owns the Westin Virginia Beach and (ii) an entity that owns the Hilton Garden Inn Blacksburg.
	The Company as of June 30, 2014 and the Predecessor as of December 31, 2013 have a 24.00% non-controlling interest (but with certain veto and approval rights) in BSE/AH Blacksburg Hotel, LLC (the "HGI Blacksburg JV"), an entity that owns the assets of the Hilton Garden Inn Blacksburg.  The HGI Blacksburg JV has a loan with an original principal balance of $13.0 million (the "Blacksburg Loan"). In addition, BCC is a party to the First Amended and Restated Guaranty of Payment dated April 17, 2008 (the "Blacksburg Payment Guaranty") in connection with the Blacksburg Loan, which is partially supported by a Construction Loan Indemnity from the other partners in the HGI Blacksburg JV dated March 10, 2008 (the "Blacksburg Cross Indemnity"). In connection with the acquisition of its non-controlling interest in the HGI Blacksburg JV, on March 21, 2014, the Company entered into an Indemnity Agreement (the "BCC Indemnity") pursuant to which the Company agreed to indemnify BCC against liabilities arising under the Blacksburg Payment Guaranty and/or the Blacksburg Cross Indemnity. The outstanding balance of the Blacksburg Loan was $10.4 million and $10.7 million as of June 30, 2014 and December 31, 2013, respectively.
	Under the Blacksburg Payment Guaranty, BCC is jointly liable to the lender, along with four other parties, for payment of any Blacksburg Loan deficiencies. The Blacksburg Payment Guaranty remains in effect until the Blacksburg Loan is repaid. Under the Blacksburg Cross Indemnity, each of the joint venture owners of the hotel agrees to be responsible for its pro rata share of any liabilities under the Blacksburg Payment Guaranty, and to be 100% responsible for any liabilities caused by it. Thus, so long as each of the other parties to the Blacksburg Cross Indemnity remains solvent, the Company, through the BCC Indemnity, should never be liable for anything more than the Company’s pro rata share of losses, or 100% of the losses the Company caused.
	The Company as of June 30, 2014 and the Predecessor as of December 31, 2013 have a 30.53% non-controlling interest (but with certain veto and approval rights) in TCA Block 7 Hotel, LLC (the "Westin Virginia Beach JV"), an entity that owns the assets of the Westin Virginia Beach. On April 8, 2014, a loan in connection with the hotel was refinanced and Notes A and B of that loan were paid off. Upon payment in full of Notes A and B, Note C for $7.0 million and related accrued interest of $0.5 million were forgiven. On April 8, 2014, Westin Virginia Beach JV entered into a $20.7 million loan (the "Westin Virginia Beach Loan") with an unaffiliated lender. In addition, the Company is a party to a Guaranty of Recourse Obligations dated April 8, 2014 (the "Westin Virginia Beach Non-Recourse Carve-out Guaranty") in connection with the Westin Virginia Beach Loan, which is partially supported by a permanent loan cross indemnity from the other partners in the Westin Virginia Beach JV dated April 1, 2014 (the "Westin Virginia Beach Cross Indemnity"). The outstanding balance of the prior loans was $26.6 million as of December 31, 2013, and the outstanding balance of the Westin Virginia Beach Loan was $20.7 million as of June 30, 2014.
	Under the Westin Virginia Beach Non-Recourse Carve-out Guaranty, the Company, along with two other parties, would be liable to the lender for repayment for part or all of the loan upon occurrence of events triggering non-recourse carve-out liability. Pursuant to the Westin Virginia Beach Cross Indemnity, each of the joint venture partners is obligated to pay its pro rata share of any losses incurred by the parties to the Westin Virginia Beach Non-Recourse Carve-out Guaranty, except to the extent that any such loss is caused by one of those parties, in which case that party is responsible for 100% of the losses. Therefore, so long as each of the other parties remains solvent, the Company should never be liable for anything more than its pro rata share of losses, or 100% of the losses it caused. The Westin Virginia Beach Non-Recourse Carve-out Guaranty remains in place until the Westin Virginia Beach Loan is repaid.
	The Company considers these entities to be VIEs. The Company has concluded it is not the primary beneficiary with the power to direct activities that most significantly impact economic performance of the entities, and accordingly, has not consolidated the entities. The Company has accounted for the entities under the equity method of accounting and included them in investments in unconsolidated entities in the accompanying condensed consolidated/combined balance sheets.
	The Company’s and Predecessor's investments in unconsolidated entities as of June 30, 2014 and December 31, 2013, respectively, consist of the following (in thousands):
				Investment in Partnership									Income (Loss)
				Successor					Predecessor				Successor					Predecessor				Successor				Predecessor
	Partnership	Ownership Interest		June 30, 2014					December 31, 2013				Three Months Ended June 30, 2014					Three Months Ended June 30, 2013				For the Period from March 21 to June 30, 2014				For the Period from January 1 to March 20, 2014			Six Months Ended June 30, 2013
	HGI Blacksburg JV	24	%	$	1,550				$	893			$	15				$	10			$	17			$	(35	)	$	(15	)
	Westin Virginia Beach JV	30.53	%	5,931					3,488				2,331					168				2,329				(131		)	(18		)
				$	7,481				$	4,381			$	2,346				$	178			$	2,346			$	(166	)	$	(33	)
	During the three and six months ended June 30, 2014, the Company recorded a capital distribution of $0.24 million from the Westin Virginia Beach JV.  This amount was a receivable from the Sub Property Manager and is included in accounts receivable and other assets in the condensed consolidated/combined balance sheet as of June 30, 2014. During the six months ended June 30, 2013, BCC recorded a non-cash capital distribution of $0.04 million from the Westin Virginia Beach JV. No distributions were recorded during the three months ended June 30, 2013.
	The maximum exposure to loss as a result of the Company’s and Predecessor's investments in unconsolidated entities as of June 30, 2014 and December 31, 2013, respectively, is as follows (in thousands)(1):
		Partnership Loan Balance									Investment in Partnership									Partnership Maximum Exposure to Loss
		Successor					Predecessor				Successor					Predecessor				Successor				Predecessor
	Partnership	30-Jun-14					December 31, 2013				June 30, 2014					December 31, 2013				June 30, 2014				December 31, 2013
	HGI Blacksburg JV	$	10,363				$	10,663			1,550					$	893			$	11,913			$	11,556
	Westin Virginia Beach JV	20,679					26,576				5,931					3,488				26,610				30,064
		$	31,042				$	37,239			$	7,481				$	4,381			$	38,523			$	41,620
	______________________________________________________________________________________________
	(1) Represents the Company's maximum exposure to loss at each unconsolidated entity should the loss be caused by the Company. As a result of the Blacksburg Payment Guaranty, the Blacksburg Cross Indemnity, the Westin Virginia Beach Non-Recourse Carve-out Guaranty and the Westin Virginia Beach Cross Indemnity, the Company and Predecessor have a maximum exposure to loss of the outstanding loan balance at the entity as well as their investment in the entity.
	Below are the condensed statements of operations for the HGI Blacksburg JV for the three months ended June 30, 2014 and 2013 and for the period from January 1 to March 20, 2014, for the period from March 21 to June 30, 2014 and for the six months ended June 30, 2013 (in thousands):
		Successor				Predecessor				Successor					Predecessor
		Three Months Ended June 30, 2014				Three Months Ended June 30, 2013				For the Period from March 21 to June 30, 2014					For the period from January 1 to March 20, 2014				Six Months Ended June 30, 2013
	Hotel revenue	$	1,215			$	1,166			$	1,342				$	687			$	2,076
	Operating income (loss)	206				217				226					(47		)		228
	Interest expense	(110		)		(176		)		(123		)			(97		)		(293		)
	Net income (loss)	$	96			$	41			$	103				$	(144	)		$	(65	)
	Company's share of net income (loss)	23				10				25					(35		)		(15		)
	Additional amortization expense (1)	(8		)		—				(8		)			—				—
	Company's share of net income (loss)	$	15			$	10			$	17				$	(35	)		$	(15	)
	____________________________________________________________________________
	(1) Amortization of the purchase price of the Company’s original interest in the HGI Blacksburg JV, less the Company's share of the partnership’s deficit, which resulted in a basis difference of $0.7 million.
	Below are the condensed statements of operations for the Westin Virginia Beach JV for the three months ended June 30, 2014 and 2013 and for the period from January 1 to March 20, 2014, for the period from March 21 to June 30, 2014 and for the six months ended June 30, 2013 (in thousands):
		Successor				Predecessor				Successor					Predecessor
		Three Months Ended June 30, 2014				Three Months Ended June 30, 2013				For the Period from March 21 to June 30, 2014					For the Period from January 1 to March 20, 2014				Six Months Ended June 30, 2013
	Hotel revenue	$	3,163			$	3,064			$	3,509				$	2,070			$	5,449
	Operating income (loss)	626				897				662					(67		)		640
	Interest income	—				—				—					—				1
	Interest expense	(392		)		(348		)		(434		)			(304		)		(702		)
	Forgiveness of debt	7,522				—				7,522					—				—
	Net income (loss)	$	7,756			$	549			$	7,750				$	(371	)		$	(61	)
	Company's share of net income (loss)	2,368				168				2,366					(113		)		(18		)
	Additional amortization expense (1)	(37		)		—				(37		)			(18		)		—
	Company's share of net income (loss)	$	2,331			$	168			$	2,329				$	(131	)		$	(18	)
	_________________________________________________________________________
	(1) Amortization of the purchase price of the Predecessor’s original interest in the Westin Virginia Beach JV, less the Predecessor’s share of the partnership’s deficit, which resulted in a basis difference of $3.4 million and the Company’s original interest in the Westin Virginia Beach JV, less the Company's share of the partnership’s deficit, which resulted in a basis difference of $3.4 million.

Leases

Leases	6 Months Ended
	Jun. 30, 2014
Leases [Abstract]	'
Leases	'
	Leases
	In October 2001, the Predecessor, through a wholly owned subsidiary, CC Technology Square LLC (the "Lessee"), entered into an operating lease agreement to lease the Georgia Tech Hotel, which opened in August 2003. The lease has an initial term of 30 years from the opening date, with a 10-year extension option. The lease requires the Lessee to pay rent equal to (i) a fixed minimum rent plus (ii) an additional rent based upon a specified percentage of revenues to the extent they exceed a specified threshold. On March 21, 2014, the Company acquired the Predecessor's interest in the lease. The Lessee is responsible for paying all of the hotel operating expenses including all personnel costs, impositions, utility charges, insurance premiums, and payments for funding furniture, fixtures and equipment reserves. Rent expense for the Georgia Tech Hotel attributable to the Successor for the three months ended June 30, 2014 and for the period from March 21 to June 30, 2014 was $1.2 million and $1.4 million, respectively. In connection with the acquisition of the Georgia Tech Hotel lease, the Company has allocated a value to the below-market lease intangible based on the difference between the market rent and the rental commitments. During the three and six months ended June 30, 2014, $0.1 million and $0.1 million, respectively, has been amortized to rent expense. Rent expense attributable to the Predecessor for the three months ended June 30, 2013, for the period from January 1 to March 20, 2014 and the six months ended June 30, 2013 was $1.1 million, $0.9 million and $2.1 million, respectively.
	The future minimum rental commitments for the Georgia Tech Hotel are as follows (in thousands):
		Minimum Rental Commitments		Amortization to Rent Expense
	July 1, 2014 - December 31, 2014	$	2,200	$	216
	Year ended December 31, 2015	4,400		433
	Year ended December 31, 2016	4,400		433
	Year ended December 31, 2017	4,400		433
	Year ended December 31, 2018	4,400		433
	Thereafter	64,533		6,328
		$	84,333	$	8,276

Mortgage_Notes_Payable

Mortgage Notes Payable	6 Months Ended
	Jun. 30, 2014
Debt Disclosure [Abstract]	'
Mortgage Notes Payable	'
	Mortgage Note Payable
	The Company’s and the Predecessor's mortgage note payable as of June 30, 2014 and December 31, 2013 consist of the following, respectively (in thousands):
	Successor
		Outstanding Mortgage Note Payable
	Encumbered Properties	30-Jun-14		Interest Rate			Payment		Maturity
	Baltimore Courtyard & Providence Courtyard	$	45,500	4.3	%		Interest Only, Principal paid at Maturity		Apr-19
	Predecessor
		Outstanding Mortgage Note Payable
	Encumbered Properties	December 31, 2013		Interest Rate		Payment		Maturity
	Baltimore Courtyard & Providence Courtyard	$	41,449	4.55% plus the greater		Principal		January
				of (i) three-month		and		2016
				LIBOR or (ii) a		Interest
				LIBOR floor of
				0.50%(1)
	______________________________________________________________________________________________
	(1) 5.05% at December 31, 2013
	The Predecessor's mortgage note payable was paid off concurrently with the acquisition of the Hotels by the Company. Interest expense related to the mortgage note payable attributable to the Successor for the three months ended June 30, 2014 and for the period from March 21 to June 30, 2014 was $0.5 million and $0.6 million, respectively. Interest expense attributable to the Predecessor for the three months ended June 30, 2013, for the period from January 1 to March 20, 2014 and the six months ended June 30, 2013 was $0.6 million, $0.5 million and $1.1 million, respectively.

Promissory_Notes_Payable

Promissory Notes Payable	6 Months Ended
	Jun. 30, 2014
Debt Disclosure [Abstract]	'
Promissory Notes Payable	'
	Promissory Notes Payable
	The Company’s promissory notes payable as of June 30, 2014 are as follows (in thousands):
		Outstanding Promissory Notes Payable
	Use of Proceeds	30-Jun-14		Interest Rate		Payment	Maturity
	Portfolio Owned Assets	$	58,074	6.8	%	Interest Only	-1
	Joint Venture Assets	5,000		6.8	%	Interest Only	-1
	Property improvement plan	1,775		4.5	%	Interest Only	Mar-19
	Grace Acquisition deposit (2)	36,800		6	%	Interest Only	May-15
	______________________________________________________________________________________________
	(1) The maturity date of the Portfolio Owned Assets and Joint Venture Assets promissory notes is within ten business days upon the Company raising equal to or greater than $150.0 million in gross proceeds from the Offering. There are no principal payments under the Portfolio Owned Assets and Joint Venture Assets promissory notes payable for 2014 and 2015, unless the contingent payment feature is satisfied by raising equal to or greater than $150.0 million in gross proceeds from the Offering.
	(2) The maturity date of the affiliate note is May 27, 2015. In connection with the Grace Acquisition, the Company paid a $50.0 million customary earnest money deposit which was partially funded by entering into a $45.0 million promissory note with CARP, LLC, an entity under common ownership with the Sponsor (the "Affiliate Promissory Note"). During the three months ended June 30, 2014, the Company received proceeds from the Affiliate Promissory Note of $40.5 million and repaid $3.7 million. Interest on the Affiliate Promissory Note does not begin accruing until July 1, 2014.
	The Portfolio Owned Assets and Joint Venture Assets promissory notes are payable to BCC and the property improvement plan promissory note is payable to the Sub Property Manager.
	Interest expense related to promissory notes payable attributable to the Company for the three months ended June 30, 2014 and for the period from March 21 to June 30, 2014 was $1.1 million and $1.2 million, respectively.

Accounts_Payable_and_Accrued_E

Accounts Payable and Accrued Expenses	6 Months Ended
	Jun. 30, 2014
Payables and Accruals [Abstract]	'
Accounts Payable and Accrued Expenses	'
	Accounts Payable and Accrued Expenses
	The following is a summary of the components of accounts payable and accrued expenses (in thousands):
		Successor		Predecessor
		June 30, 2014		December 31, 2013
	Accounts payable and accrued expenses	$	7,088	$	2,745
	Contingent consideration from acquisition	4,246		—
	Deferred payment for acquisition	3,424		—
	Accrued salaries and related liabilities	1,127		819
	Georgia Tech Hotel lease obligation	—		1,733
		$	15,885	$	5,297

Common_Stock

Common Stock	6 Months Ended
	Jun. 30, 2014
Equity [Abstract]	'
Common Stock	'
	Common Stock
	The Company had 874,308 shares and 8,888 shares of common stock outstanding and had received total proceeds of $21.5 million and $0.2 million as of June 30, 2014 and December 31, 2013, respectively.
	On February 3, 2014, the Company's board of directors declared distributions payable to stockholders of record each day during the applicable period at a rate equal to $0.00465753425 per day, or $1.70 per annum, per share of common stock. The distributions began accruing on April 1, 2014. The distributions are payable by the fifth day following each month end to stockholders of record at the close of business each day during the prior month.
	Share Repurchase Program
	The Company has a Share Repurchase Program (the "SRP") that enables stockholders to sell their shares of common stock originally purchased from the Company to the Company. Under the SRP, stockholders may request that the Company redeem all or any portion, subject to certain minimum conditions described below, if such repurchase does not impair the Company’s capital or operations.
	Except in connection with a stockholder’s death, disability, bankruptcy or other involuntary exigent circumstance, prior to the time that the shares of common stock are listed on a national securities exchange and until the Company begins to calculate its NAV, the repurchase price per share will depend on the length of time investors have held such shares as follows: after one year from the purchase date — the lower of $23.13 or 92.5% of the amount they actually paid for each share; after two years from the purchase date — the lower of $23.75 or 95.0% of the amount they actually paid for each share; after three years from the purchase date —  the lower of $24.38 or 97.5% of the amount they actually paid for each share; and after four years from the purchase date — the lower of $25.00 or 100.0% of the amount they actually paid for each share (in each case, as adjusted for any stock distributions, combinations, splits and recapitalizations).
	Once the Company begins to calculate its NAV, the price per share that the Company will pay to repurchase the Company’s shares of common stock on the last day of each quarter, will be the Company’s per share NAV of common stock for the quarter, calculated after the close of business on each day the Company makes its quarterly financial filing. Subject to limited exceptions, stockholders whose shares of common stock are repurchased within the first four months from the date of purchase will be subject to a short-term trading fee of 2.0% of the aggregate per share NAV of the shares of common stock repurchased.
	The board of directors may reject a request for repurchase, at any time. Purchases under the SRP by the Company will be limited in any calendar year to 5.0% of the weighted average number of shares outstanding during the prior calendar year. In addition, funds available for the Company's SRP are limited and may not be sufficient to accommodate all requests. Due to these limitations, we cannot guarantee that we will be able to accommodate all repurchase requests.
	When a stockholder requests a repurchase and the repurchase is approved, the Company will reclassify such obligation from equity to a liability based on the settlement value of the obligation. Shares purchased under the SRP will have the status of authorized but unissued shares. As of June 30, 2014 and December 31, 2013, no shares had been repurchased or submitted for repurchase.
	Distribution Reinvestment Plan
	Pursuant to the DRIP, stockholders may elect to reinvest distributions by purchasing shares of common stock in lieu of receiving cash. No dealer manager fees or selling commissions are paid with respect to shares purchased pursuant to the DRIP. Participants purchasing shares pursuant to the DRIP have the same rights and are treated in the same manner as if such shares were issued pursuant to the primary Offering. The board of directors may designate that certain cash or other distributions be excluded from the DRIP. The Company has the right to amend or suspend any aspect of the DRIP or terminate the DRIP with ten days’ notice to participants. Shares issued under the DRIP are recorded to equity in the accompanying balance sheets in the period distributions are paid. There were 834 shares issued under the DRIP as of June 30, 2014. No shares were issued under the DRIP as of December 31, 2013.

Fair_Value_Measurements

Fair Value Measurements	6 Months Ended
	Jun. 30, 2014
Fair Value Disclosures [Abstract]	'
Fair Value Measurements	'
	Fair Value Measurements
	In accordance with ASC 820, certain assets and liabilities are recorded at fair value. Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability between market participants in an orderly transaction on the measurement date. The market in which the reporting entity would sell the asset or transfer the liability with the greatest volume and level of activity for the asset or liability is known as the principal market. When no principal market exists, the most advantageous market is used. This is the market in which the reporting entity would sell the asset or transfer the liability with the price that maximizes the amount that would be received or minimizes the amount that would be paid. Fair value is based on assumptions market participants would make in pricing the asset or liability. Generally, fair value is based on observable quoted market prices or derived from observable market data when such market prices or data are available. When such prices or inputs are not available, the reporting entity should use valuation models.
	The Company’s financial instruments recorded at fair value on a recurring basis are categorized based on the priority of the inputs used to measure fair value. The inputs used in measuring fair value are categorized into three levels, as follows:
	•	Level 1 - Inputs that are based upon quoted prices for identical instruments traded in active markets.
	•	Level 2 - Inputs that are based upon quoted prices for similar instruments in active markets, quoted prices for identical or similar investments in markets that are not active, or models based on valuation techniques for which all significant assumptions are observable in the market or can be corroborated by observable market data for substantially the full term of the investment.
	•	Level 3 - Inputs that are generally unobservable and typically reflect management’s estimates of assumptions that market participants would use in pricing the asset or liability. The fair values are therefore determined using model-based techniques that include option pricing models, discounted cash flow models, and similar techniques.
	The determination of where an asset or liability falls in the hierarchy requires significant judgment and considers factors specific to the asset or liability. In instances where the determination of the fair value measurement is based on inputs from different levels of the fair value hierarchy, the level in the fair value hierarchy within which the entire fair value measurement falls is based on the lowest level input that is significant to the fair value measurement in its entirety.
	The Company is required to disclose the fair value of financial instruments which it is practicable to estimate. The fair value of cash and cash equivalents, accounts receivable and accounts payable and accrued expenses approximate their carrying amounts due to the relatively short maturity of these items. The following table shows the carrying values and the fair values of material non-current liabilities that qualify as financial instruments, determined in accordance with the authoritative guidance for disclosures about fair value of financial instruments (in thousands):
		Successor				Predecessor
		June 30, 2014				December 31, 2013
		Carrying Amount		Fair Value		Carrying Amount		Fair Value
	Mortgage note payable	$	45,500	$	45,859	$	41,449	$	38,921
	Promissory notes payable	64,849		64,849		—		—
	Affiliate note payable	36,800		36,800		—		—
	Contingent consideration on acquisition	4,246		4,246		—		—
	Deferred consideration	3,424		3,424		—		—
	Total	$	154,819	$	155,178	$	41,449	$	38,921
	The fair value of the mortgage note payable was determined using the discounted cash flow method and applying current market rates and is classified as level 3 under the fair value hierarchy. The fair value of the promissory and affiliate notes payable was determined to equal their carrying amounts as these amounts are expected to be repaid during the year. The fair value of the contingent consideration on acquisition and deferred consideration was determined to equal their carrying amounts as these amounts are accreted using current market rates.

Commitments_and_Contingencies

Commitments and Contingencies	6 Months Ended
	Jun. 30, 2014
Commitments and Contingencies Disclosure [Abstract]	'
Commitments and Contingencies	'
	Commitments and Contingencies
	Litigation
	In the ordinary course of business, the Company may become subject to litigation or claims. There are no material legal proceedings pending or known to be contemplated against the Company.
	Environmental Matters
	In connection with the ownership and operation of real estate, the Company may potentially be liable for costs and damages related to environmental matters. The Company has acquired interests in six hotels through fee simple, leasehold and joint venture interests and as of June 30, 2014, has not been notified by any governmental authority of any non-compliance, liability or other claim and is not aware of any other environmental condition that it believes will have a material adverse effect on the results of operations.
	Contingent Consideration
	Included as part of the acquisition of the Hotels is a contingent consideration payable to BCC based on the operating results of the Baltimore Courtyard, Providence Courtyard and Stratford Homewood Suites. The amount payable is calculated by applying a capitalization rate to the excess earnings before interest, taxes, depreciation and amortization ("EBITDA") earned in the second year after the acquisition over an agreed upon target. If this target EBITDA is not met, no amount will be due to BCC, but if the EBITDA earned is higher than forecasted, the amount due to BCC could be higher than the liability recorded in the condensed consolidated/combined balance sheet as of June 30, 2014.
	Deferred Consideration
	Included as part of the acquisition of the Hotels is deferred consideration payable to BCC of $3.0 million and $0.5 million which is payable on March 21, 2015 and March 21, 2016, respectively. The deferred consideration does not bear interest unless the amounts remain unpaid as of each repayment date, at which time, interest will begin accruing at a rate of 6.8% per annum.

Related_Party_Transactions_and

Related Party Transactions and Arrangements

6 Months Ended

Jun. 30, 2014

Related Party Transactions [Abstract]

'

Related Party Transactions and Arrangements

'

Related Party Transactions and Arrangements

As of June 30, 2014, the Special Limited Partner owned 8,888 shares of the Company’s outstanding common stock. The Advisor and its affiliates may incur and pay costs and fees on behalf of the Company. The Company had a payable to affiliates related to operating expenses and offering costs of $3.2 million and $0.6 million as of June 30, 2014 and December 31, 2013, respectively. The Company owed $36.8 million under the Affiliate Promissory Note as of June 30, 2014. No amount was due under the Affiliate Promissory Note as of December 31, 2013.

Fees Paid in Connection with the Offering

The Dealer Manager is paid fees and compensation in connection with the sale of common stock in the Offering. The Dealer Manager is paid a selling commission of up to 7.0% of the per share purchase price of the Company’s offering proceeds before reallowance of commissions earned by participating broker-dealers. In addition, the Dealer Manager is paid up to 3.0% of the gross proceeds from the sale of shares, before reallowance to participating broker-dealers, as a dealer-manager fee. The Dealer Manager may reallow its dealer-manager fee to participating broker-dealers. A participating broker dealer may elect to receive a fee equal to 7.5% of the gross proceeds from the sale of shares by such participating broker dealer, with 2.5% thereof paid at the time of such sale and 1.0% thereof paid on each anniversary of the closing of such sale up to and including the fifth anniversary of the closing of such sale. If this option is elected, it’s expected that the dealer manager fee will be reduced to 2.5% of gross proceeds.

The table below shows the fees incurred by the Dealer Manager for the Offering during the three and six months ended June 30, 2014 and 2013, respectively, and the associated payable as of June 30, 2014 and December 31, 2013 (in thousands):

Three Months Ended June 30,

Six Months Ended June 30,

Payable as of

2014

2013

2014

2013

30-Jun-14

31-Dec-13

Total commissions and fees incurred to the Dealer Manager

$

1,727

$

—

$

1,837

$

—

$

110

$

—

The Advisor and its affiliates are paid compensation and receive reimbursement for services relating to the Offering. All offering costs incurred by the Company or its affiliated entities on behalf of the Company have been charged to additional paid-in capital on the accompanying condensed consolidated balance sheet upon commencement of operations. As of June 30, 2014 and December 31, 2013, the Company has not incurred any offering costs reimbursements from the Advisor and Dealer Manager. The Company is responsible for offering and related costs from the ongoing offering, excluding commissions and dealer manager fees, up to a maximum of 2.0% of gross proceeds received from the Offering, measured at the end of the Offering. Offering costs in excess of the 2.0% cap as of the end of the Offering are the Advisor’s responsibility. As of June 30, 2014 and December 31, 2013, offering and related costs exceeded 2.0% of gross proceeds received from the Offering by $2.2 million and $1.5 million, respectively, due to the on-going nature of the Offering.

Offering costs (other than selling commissions and dealer manager fees) of the Company may be paid by the Advisor, the Dealer Manager or their affiliates on behalf of the Company. Deferred offering costs represented professional fees, fees paid to various regulatory agencies and other costs incurred in connection with registering to sell shares of the Company’s common stock. Offering costs were reclassified from deferred costs to stockholders’ equity when the Company commenced its Offering, and included all expenses incurred by the Company in connection with its Offering as of such date. As of December 31, 2013, such costs totaled $1.5 million. These costs included but are not limited to (i) legal, accounting, printing, mailing and filing fees; (ii) escrow service related fees; (iii) reimbursement of the Dealer Manager for amounts it paid to reimburse the bona fide diligence expenses of broker-dealers; and (iv) reimbursement to the Advisor for a portion of the costs of its employees and other costs in connection with preparing supplemental sales materials and related offering activities. The Company is obligated to reimburse the Advisor or its affiliates, as applicable, for organization and offering costs paid by them on behalf of the Company, provided that the Advisor is obligated to reimburse the Company to the extent organization and offering costs (excluding selling commissions and the dealer manager fee) incurred by the Company in its offering exceed 2.0% of gross offering proceeds. As a result, these costs are effectively only a liability of the Company to the extent aggregate selling commissions, the dealer manager fees and other organization and offering costs do not exceed 12.0% of the gross proceeds determined at the end of the Offering.

Fees Paid in Connection With the Operations of the Company

The Advisor receives an acquisition fee of 1.5% of the contract purchase price of each acquired property and 1.5% of the amount advanced for a loan or other investment. The Advisor may also be reimbursed for expenses incurred in the process of acquiring properties, in addition to third-party costs the Company may pay directly to, or reimburse the Advisor for. Additionally, the Company may reimburse the Advisor for legal expenses it or its affiliates directly incur in the process of acquiring properties in an amount not to exceed 0.1% of the contract purchase price of the Company’s assets acquired. Once the proceeds from the Offering have been fully invested, the aggregate amount of acquisition fees and financing coordination fees (as described below) may not exceed 1.9% of the contract purchase price, for any new investments, including reinvested proceeds, and the amount advanced for a loan or other investment for all the assets acquired. In no event will the total of all acquisition fees, acquisition expenses and any financing coordination fees (as described below) payable with respect to a particular investment exceed 4.5% of the contract purchase price or 4.5% of the amount advanced for a loan or other investment. The Company incurred acquisition fees of $1.6 million, none of which were forgiven, for the three and six months ended June 30, 2014. No acquisition fees were incurred during the three and six months ended June 30, 2013.

If the Advisor provides services in connection with the origination or refinancing of any debt that the Company obtains and uses to acquire properties or to make other permitted investments, or that is assumed, directly or indirectly, in connection with the acquisition of properties, the Company will pay the Advisor or its assignees a financing coordination fee equal to 0.75% of the amount available and/or outstanding under such financing, subject to certain limitations. The Company incurred financing coordination fees of $0.8 million for the three and six months ended June 30, 2014. No financing coordination fees were incurred during the three and six months ended June 30, 2013.

For its asset management services, the Company causes the OP to issue (subject to periodic approval by the board of directors) to the Advisor performance-based restricted partnership units of the OP ("Class B Units") on a quarterly basis in an amount equal to the excess of the cost of the Company’s assets or the lower of the cost of assets and the applicable quarterly NAV, once the Company begins calculating NAV, multiplied by 0.1875% divided by the value of one share of common stock as of the last day of such calendar quarter, which is equal initially to $22.50 (the Offering price minus selling commissions and dealer manager fees) and, at such time as the Company calculates NAV, to per share NAV. The Advisor is entitled to receive distributions on the vested and unvested Class B Units it receives in connection with its asset management subordinated participation at the same rate as distributions received on the Company’s common stock; such distributions are in addition to the incentive fees the Advisor and its affiliates may receive from the Company, including, without limitation, the annual subordinated performance fee and the subordinated participation in net sales proceeds, the subordinated incentive listing distribution or the subordinated distribution upon termination of the advisory agreement, as applicable. The restricted Class B Units do not become unrestricted Class B Units until such time as the adjusted market value of the OP’s assets plus applicable distributions equals the sum of the aggregate capital contributed by investors plus an amount equal to a 6.0% cumulative, pre-tax, non-compounded annual return to investors and only at such time as the capital account associated with a restricted Class B Unit equals the capital account of an unrestricted Class B Unit. Asset management services were performed by the Advisor for the three and six months ended June 30, 2014, and 9,274 Class B Units have been issued as of June 30, 2014.

The Company pays a property management fee of approximately 4.0% of the monthly gross receipts from the properties managed by the Company’s Sub-Property Manager or a third-party sub-property manager, as applicable and as negotiated with each such sub-property manager. The Company also reimburses the Sub-Property Manager or a third-party sub-property manager for property level expenses, as well as fees and expenses of such sub-property manager. However, the Company will not reimburse such sub-property managers for general overhead costs or for the wages and salaries and other employee-related expenses of employees of such sub-property managers, other than employees or subcontractors who are engaged in the on-site operation, management, maintenance or access control of the Company’s properties. Property management fees of $0.5 million were incurred by the Company for the three months ended June 30, 2014 and $0.8 million were incurred combined between the Predecessor and the Company for the six months ended June 30, 2014.

The Company reimburses the Advisor’s costs of providing administrative services, subject to the limitation that the Company will not reimburse the Advisor for any amount by which the Company’s operating expenses at the end of the four preceding fiscal quarters exceeds the greater of (a) 2.0% of average invested assets and (b) 25.0% of net income other than any additions to reserves for depreciation, bad debt or other similar non-cash reserves and excluding any gain from the sale of assets for that period. Additionally, the Company reimburses the Advisor for personnel costs in connection with other services; however, the Company will not reimburse the Advisor for personnel costs, including executive salaries, in connection with services for which the Advisor receives acquisition fees, acquisition expenses or real estate commissions. No reimbursement expenses were incurred for the three and six months ended June 30, 2014.

In order to increase operating cash flows and the ability to pay distributions from operating cash flows, the Advisor may elect to waive certain fees. Because the Advisor may waive certain fees, cash flow from operations that would have been paid to the Advisor may be available to pay distributions to stockholders. The fees that may be forgiven are not deferrals and accordingly, will not be paid to the Advisor. In certain instances, to improve the Company’s working capital, the Advisor may elect to absorb a portion of the Company’s general and administrative costs. No expenses were absorbed by the Advisor for the three and six months ended June 30, 2014.

The Advisor at its election may also contribute capital to enhance the Company’s cash position for working capital and distribution purposes. Any contributed capital amounts are not reimbursable to the Advisor. Further, any capital contributions are made without any corresponding issuance of common or preferred shares. There were no contributions to capital from the Advisor for the three and six months ended June 30, 2014.

Fees Paid in Connection with the Liquidation or Listing of the Company’s Real Estate Assets

The Company may pay the Advisor an annual subordinated performance fee calculated on the basis of the Company’s total return to stockholders, payable annually in arrears, such that for any year in which the Company’s total return on stockholders’ capital exceeds 6.0% per annum, the Advisor will be entitled to 15.0% of the excess total return but not to exceed 10.0% of the aggregate total return for such year. This fee will be payable only upon the sale of assets, other disposition or refinancing of such assets, which results in the return on stockholders’ capital exceeding 6.0% per annum. No subordinated performance fees were incurred during the three and six months ended June 30, 2014.

The Company may pay a brokerage commission to the Advisor on the sale of property, not to exceed the lesser of 2.0% of the contract sale price of the property and 50.0% of the total brokerage commission paid if a third-party broker is also involved; provided, however, that in no event may the real estate commissions paid to the Advisor, its affiliates and unaffiliated third parties exceed the lesser of 6.0% of the contract sales price and a reasonable, customary and competitive real estate commission, in each case, payable to the Advisor if the Advisor or its affiliates, as determined by a majority of the independent directors, provided a substantial amount of services in connection with the sale. No such fees were incurred during the three and six months ended June 30, 2014.

The Company will pay the Special Limited Partner a subordinated participation in the net sales proceeds of the sale of real estate assets of 15.0% of the remaining net sale proceeds after return of capital contributions to investors plus payment to investors of a 6.0% cumulative, pre-tax non-compounded annual return on the capital contributed by investors. The Special Limited Partner will not be entitled to the subordinated participation in net sale proceeds unless the Company’s investors have received a 6.0% cumulative non-compounded return on their capital contributions plus the return of their capital. No such fees were incurred during the three and six months ended June 30, 2014.

If the common stock of the Company is listed on a national exchange, the Company will pay the Special Limited Partner a subordinated incentive listing distribution of 15.0% of the amount by which the Company’s market value plus distributions exceeds the aggregate capital contributed by investors plus an amount equal to a 6.0% cumulative, pre-tax non-compounded annual return to investors. The Special Limited Partner will not be entitled to the subordinated incentive listing fee unless investors have received a 6.0% cumulative, pre-tax non-compounded return on their capital contributions plus the return of their capital. No such distributions were incurred during the three and six months ended June 30, 2014. Neither the Special Limited Partner nor any of its affiliates can earn both the subordination participation in the net proceeds and the subordinated incentive listing distribution.

Upon termination or non-renewal of the advisory agreement with the Advisor, with or without cause, the Special Limited Partner, through its controlling interest in the Advisor, will be entitled to receive distributions from the OP equal to 15.0% of the amount by which the sum of the Company’s market value plus distributions exceeds the sum of the aggregate capital contributed by investors plus an amount equal to a 6.0% cumulative, pre-tax, non-compounded annual return to investors. The Special Limited Partner may elect to defer its right to receive a subordinated distribution upon termination until either a listing on a national securities exchange or other liquidity event occurs. No such distributions were incurred during the three and six months ended June 30, 2014.

Economic_Dependency

Economic Dependency	6 Months Ended
	Jun. 30, 2014
Economic Dependency [Abstract]	'
Economic Dependency	'
	Economic Dependency
	Under various agreements, the Company has engaged or will engage the Advisor and its affiliates to provide certain services that are essential to the Company, including asset management services, supervision of the management, asset acquisition and disposition decisions, the sale of shares of common stock available for issue, transfer agency services, as well as other administrative responsibilities for the Company including accounting services and investor relations.
	As a result of these relationships, the Company is dependent upon the Advisor and its affiliates. In the event that these companies are unable to provide the Company with the respective services, the Company will be required to find alternative providers of these services.

ShareBased_Payments

Share-Based Payments	6 Months Ended
	Jun. 30, 2014
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]	'
Share-Based Payments	'
	Share-Based Payments
	Restricted Share Plan
	The Company has adopted an employee and director incentive restricted share plan (the "RSP"), which provides for the automatic grant of 1,333 restricted shares of common stock to each of the independent directors, without any further action by the Company’s board of directors or the stockholders, on the date of initial election to the board of directors and on the date of each annual stockholder’s meeting. Restricted stock issued to independent directors will vest over a five-year period following the first anniversary of the date of grant in increments of 20.0% per annum. The RSP provides the Company with the ability to grant awards of restricted shares to the Company’s directors, officers and employees (if the Company ever has employees), employees of the Advisor and its affiliates, employees of entities that provide services to the Company, directors of the Advisor or of entities that provide services to the Company, certain consultants to the Company and the Advisor and its affiliates or to entities that provide services to the Company. The total number of shares of common stock granted under the RSP shall not exceed 5.0% of outstanding shares of common stock on a fully diluted basis at any time and in any event will not exceed 4.0 million shares (as such number may be adjusted for stock splits, stock dividends, combinations and similar events).
	Restricted share awards entitle the recipient to receive shares of common stock from the Company under terms that provide for vesting over a specified period of time or upon attainment of pre-established performance objectives. Such awards would typically be forfeited with respect to the unvested shares upon the termination of the recipient’s employment or other relationship with the Company. Restricted shares may not, in general, be sold or otherwise transferred until restrictions are removed and the shares have vested. Holders of restricted shares may receive cash distributions prior to the time that the restrictions on the restricted shares have lapsed. Any distributions payable in shares of common stock shall be subject to the same restrictions as the underlying restricted shares. The fair value of the shares will be expensed over the vesting period of five years. There were 3,999 and 0 restricted shares granted as of June 30, 2014 and December 31, 2013, respectively, none of which had vested. Based on a share price of $22.50, the compensation expense related to restricted stock was $5,000 and $9,000 during the three and six months ended June 30, 2014 and is recorded in general and administrative expense in the accompanying statements of operations. There was no compensation expense related to restricted stock during the three and six months ended June 30, 2013.
	Other Share-Based Payments
	The Company may issue common stock in lieu of cash to pay fees earned by the Company's directors. There were no such shares of common stock issued in lieu of cash as of June 30, 2014 and December 31, 2013, respectively.

Subsequent_Events

Subsequent Events	6 Months Ended
	Jun. 30, 2014
Subsequent Events [Abstract]	'
Subsequent Events	'
	Subsequent Events
	The Company has evaluated subsequent events through the filing of this Quarterly Report on Form 10-Q, and determined that there have not been any events that have occurred that would require adjustments to disclosures in the accompanying condensed consolidated financial statements except for the following transactions:
	Sales of Common Stock
	As of July 31, 2014, the Company had 2.1 million shares of common stock outstanding, including unvested restricted shares and shares issued under the DRIP. Total gross proceeds, net of repurchases, from these issuances were $52.1 million, including proceeds from shares issued under the DRIP. As of July 31, 2014, the aggregate value of all share issuances was $52.7 million based on a per share value of $25.00 (or $23.75 per share for shares issued under the DRIP).
	Total capital raised to date, including shares issued under the DRIP, is as follows (in thousands):
	Source of Capital	Inception to June 30, 2014		July 1, 2014 to July 31, 2014		Total
	Common stock	$	21,503	$	30,588	$	52,091
	Repayment of Affiliate Promissory Note
	As of August 14, 2014, the Company has repaid $32.7 million of the Affiliate Promissory Note using proceeds from the sale of common stock (See Note 7 - Promissory Notes Payable). The remaining balance payable as of August 14, 2014 is $4.1 million.
	Grace Portfolio Closing Extension
	On July 21, 2014, the Company entered into an amendment to the Real Estate Sale Agreement for the Grace Acquisition to defer the closing date to December 15, 2014. As a result of the amendment, the $25.0 million supplemental earnest money deposit is due to the Sellers on September 19, 2014.

Summary_of_Significant_Account1

Summary of Significant Accounting Policies (Policies)	6 Months Ended
	Jun. 30, 2014
Accounting Policies [Abstract]	'
Principles of Consolidation and Basis of Presentation	'
	Principles of Consolidation/Combination and Basis of Presentation
	The accompanying condensed consolidated/combined financial statements include the accounts of the Company and its subsidiaries. All inter-company accounts and transactions have been eliminated in consolidation. In determining whether the Company has a controlling financial interest in a joint venture and the requirement to consolidate the accounts of that entity, management considers factors such as ownership interest, authority to make decisions and contractual and substantive participating rights of the other partners or members as well as whether the entity is a variable interest entity for which the Company is the primary beneficiary.
	The Predecessor represents hospitality assets and operations owned by Barceló Crestline Corporation and its consolidated subsidiaries ("BCC"), which historically have been maintained in various legal entities. Historically, financial statements have not been prepared for the Predecessor as a discrete stand-alone entity. The accompanying condensed consolidated/combined financial statements for the Predecessor as of December 31, 2013, for the period from January 1 to March 20, 2014 and for the three and six months ended June 30, 2013 have been derived from the historical accounting records of BCC and reflect the assets, liabilities, equity, revenue and expenses directly attributable to the Predecessor, as well as allocations deemed reasonable by management, to present the combined financial position, results of operations, changes in equity, and cash flows of the Predecessor on a stand-alone basis.
Use of Estimates	'
	Use of Estimates
	The preparation of the accompanying condensed consolidated/combined financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Management makes significant estimates regarding revenue recognition, purchase price allocations to record investments in real estate and real estate taxes, as applicable.
Real Estate Investments	'
	Real Estate Investments
	The Company allocates the purchase price of properties acquired in real estate investments to tangible and identifiable intangible assets acquired based on their respective fair values at the date of acquisition. Tangible assets include land, land improvements, buildings and fixtures. The Company utilizes various estimates, processes and information to determine the property value. Estimates of value are made using customary methods, including data from appraisals, comparable sales, discounted cash flow analysis and other methods. Amounts allocated to land, land improvements, buildings and fixtures are based on cost segregation studies performed by independent third parties or on the Company’s analysis of comparable properties in the Company’s portfolio. Identifiable intangible assets and liabilities, as applicable, are typically related to contracts, including operating lease agreements, ground lease agreements and hotel management agreements, which will be recorded at fair value.
	In making estimates of fair values for purposes of allocating the purchase price, the Company utilizes a number of sources, including independent appraisals that may be obtained in connection with the acquisition or financing of the respective property and other market data. The Company also considers information obtained about each property as a result of the Company’s pre-acquisition due diligence in estimating the fair value of the tangible and intangible assets acquired and intangible liabilities assumed.
	Investments in real estate that are not considered to be business combinations are recorded at cost. Improvements and replacements are capitalized when they extend the useful life of the asset. Costs of repairs and maintenance are expensed as incurred. Depreciation of the Company's assets is computed using the straight-line method over the estimated useful lives of up to 40 years for buildings, 15 years for land improvements, five years for fixtures and the shorter of the useful life or the remaining lease term for leasehold interests.
	The Company is required to make subjective assessments as to the useful lives of the Company’s assets for purposes of determining the amount of depreciation to record on an annual basis with respect to the Company’s investments in real estate. These assessments have a direct impact on the Company’s net income because if the Company were to shorten the expected useful lives of the Company’s investments in real estate, the Company would depreciate these investments over fewer years, resulting in more depreciation expense and lower net income on an annual basis.
	The Company is required to present the operations related to properties that have been sold or properties that are intended to be sold as discontinued operations in the statement of operations at fair value for all periods presented to the extent the disposal of a component represents a strategic shift that has or will have a major effect on the Company’s operations and financial results.
Below Market Lease	'
	Below-Market Lease
	The below-market lease intangible is based on the difference between the market rent and the contractual rent and is discounted to a present value using an interest rate reflecting the Company's current assessment of the risk associated with the lease acquired. Acquired lease intangible assets are amortized over the remaining lease term. The amortization of a below-market lease is recorded as an increase to rent expense on the condensed consolidated/combined statements of operations.
Impairment of Long Lived Assets and Investments in Unconsolidated Entities	'
	Impairment of Long Lived Assets and Investments in Unconsolidated Entities
	When circumstances indicate the carrying value of a property may not be recoverable, the Company reviews the asset for impairment. This review is based on an estimate of the future undiscounted cash flows, excluding interest charges, expected to result from the property’s use and eventual disposition. The estimates consider factors such as expected future operating income, market and other applicable trends and residual value, as well as the effects of demand, competition and other factors. If impairment exists, due to the inability to recover the carrying value of a property, an impairment loss will be recorded to the extent that the carrying value exceeds the estimated fair value of the property for properties to be held and used. For properties held for sale, the impairment loss is the adjustment to fair value less estimated cost to dispose of the asset. These assessments have a direct impact on net income because recording an impairment loss results in an immediate negative adjustment to net income.
Cash and Cash Equivalents	'
	Cash and Cash Equivalents
	Cash and cash equivalents includes cash in bank accounts as well as investments in highly-liquid money market funds with original maturities of three months or less.
Restricted Cash	'
	Restricted Cash
	Restricted cash consists of amounts required under mortgage agreements for future capital improvements to owned assets, future interest and property tax payments and excess cash flow deposits due to mortgage agreement restrictions. For purposes of the statement of cash flows, changes in restricted cash caused by changes to the amount needed for future capital improvements are treated as investing activities and changes related to future interest and real estate tax payments and excess cash flow deposits are treated as operating activities.
Deferred Financing Fees	'
	Deferred Financing Fees
	Deferred financing fees represent commitment fees, legal fees and other costs associated with obtaining commitments for financing. These fees are amortized over the terms of the respective financing agreements using the effective interest method. Unamortized deferred financing fees are expensed when the associated debt is refinanced or repaid before maturity. Costs incurred in seeking financial transactions that do not close are expensed in the period in which it is determined that the financing will not be successful.
Variable Interest Entities	'
	Variable Interest Entities
	Accounting Standards Codification ("ASC") 810, Consolidation contains the guidance surrounding the definition of variable interest entities ("VIE"), the definition of variable interests and the consolidation rules surrounding VIEs. In general, VIEs are entities in which equity investors lack the characteristics of a controlling financial interest or do not have sufficient equity at risk for the entity to finance its activities without additional subordinated financial support. The Company has variable interests in VIEs through its investments in entities which own the Westin Virginia Beach Town Center (the "Westin Virginia Beach") and the Hilton Garden Inn Blacksburg.
	Once it is determined that the Company holds a variable interest in an entity, GAAP requires that the Company perform a qualitative analysis to determine (i) which entity has the power to direct the matters that most significantly impact the VIE’s financial performance; and (ii) if the Company has the obligation to absorb the losses of the VIE that could potentially be significant to the VIE or the right to receive the benefits of the VIE that could potentially be significant to the VIE. The entity that has both of these characteristics is deemed to be the primary beneficiary and is required to consolidate the VIE (See Note 4 - Variable Interest Entities and Investments in Unconsolidated Entities).
Revenue Recognition	'
	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 services.
Share-Based Payments	'
	Share-Based Payments
	The Company has a share-based incentive award plan, which is accounted for under the guidance for share-based payments. The expense for such awards will be included in general and administrative expenses and is recognized over the vesting period or when the requirements for exercise of the award have been met (See Note 14 - Share-Based Payments).
Income Taxes	'
	Income Taxes
	The Company intends to elect and qualify to be taxed as a REIT under Sections 856 through 860 of the Internal Revenue Code commencing with its tax year ending December 31, 2014. If the Company qualifies for taxation as a REIT, it generally will not be subject to federal corporate income tax as long as it distributes 90% of its REIT taxable income to its stockholders and complies with various other organizational and operational requirements applicable to it as a REIT. Even if the Company qualifies for taxation as a REIT, it may be subject to certain state and local taxes on its income, property tax and federal income and excise taxes on its undistributed income. The Company's hotels are leased to a taxable REIT subsidiary ("TRS") which is a wholly owned subsidiary of the OP. The TRS is subject to federal, state and local income taxes.
Earnings/ Loss per Share	'
	Earnings/Loss per Share
	The Company calculates basic income per share by dividing net income or loss for the period by the weighted-average shares of its common stock outstanding for a respective period. Diluted income per share takes into account the effect of dilutive instruments, such as stock options and unvested restricted stock, except when doing so would be anti-dilutive.
Advertising Costs	'
	Advertising Costs
	The Company expenses advertising costs as incurred.
Allowance for Doubtful Accounts	'
	Allowance for Doubtful Accounts
	Receivables consist principally of trade receivables from customers and are generally unsecured and are due within 30 to 90 days. The Company records a provision for uncollectible accounts using the allowance method. Expected credit losses associated with trade receivables are recorded as an allowance for doubtful accounts. The allowance for doubtful accounts is estimated based upon historical patterns of credit losses for aged receivables as well as specific provisions for certain identifiable, potentially uncollectible balances. When internal collection efforts on accounts have been exhausted, the accounts are written off and the associated allowance for doubtful accounts is reduced.
Reportable Segments	'
	Reportable Segments
	The Company has determined that it has one reportable segment, with activities related to investing in real estate. The Company’s investments in real estate generate room revenue and other income through the operation of the properties, which comprise 100% of the total consolidated/combined revenues. Management evaluates the operating performance of the Company’s investments in real estate on an individual property level, none of which represent a reportable segment.
Recently Issued Accounting Pronouncements	'
	Recently Issued Accounting Pronouncements
	In April 2014, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") 2014-08 Presentation of Financial Statements (Topic 205) and Property, Plant and Equipment (Topic 360) - Reporting Discontinued Operations and Disclosure of Disposal of Components of an Entity. Under this standard, a disposal of a component of an entity or a group of components of an entity is required to be reported in discontinued operations only if the disposal represents a strategic shift that has, or will have, a major effect on an entity’s operations and financial results.  In addition, it requires an entity to present, for each comparative period, the assets and liabilities of a disposal group that includes a discontinued operation separately in the asset and liability sections, respectively, of the statement of financial position. As a result, the operations of sold properties through the date of their disposal will be included in continuing operations, unless the sale represents a strategic shift. However, the gain or loss on the sale of a property will be reported separately below income from continuing operations. The Company adopted this ASU as of January 1, 2014. No prior year restatements are permitted for this change in policy. For purposes of earnings per share calculation, beginning in 2014 gains and losses on property sales will be included in continuing operations.
	On May 28, 2014, the FASB issued ASU 2014-09 Revenue from Contracts with Customers ("ASU 2014-09"), which requires an entity to recognize the amount of revenue to which it expects to be entitled for the transfer of promised goods or services to customers. ASU 2014-09 will replace most existing revenue recognition guidance in GAAP when it becomes effective. The new standard is effective for the Company on January 1, 2017. Early application is not permitted. The standard permits the use of either the retrospective or cumulative effect transition method. The Company is evaluating the effect that ASU 2014-09 will have on its consolidated financial statements and related disclosures. The Company has not yet selected a transition method nor has it determined the effect of the standard on its ongoing financial reporting.

Summary_of_Significant_Account2

Summary of Significant Accounting Policies (Tables)	6 Months Ended
	Jun. 30, 2014
Accounting Policies [Abstract]	'
Schedule of Accounts, Notes, Loans and Financing Receivable	'
	Trade receivable balances, net of the allowance for doubtful accounts, are included in prepaid expenses and other assets in the accompanying condensed consolidated/combined balance sheets, and are as follows (in thousands):
		Successor			Predecessor
		June 30, 2014			December 31, 2013
	Trade receivables	$	1,672		$	788
	Allowance for doubtful accounts	(45		)	(26		)
	Trade receivables, net of allowance	$	1,627		$	762

Real_Estate_Investments_Tables

Real Estate Investments (Tables)	6 Months Ended
	Jun. 30, 2014
Business Combinations [Abstract]	'
Schedule of Business Acquisitions	'
	The following table presents the allocation of the assets acquired and liabilities assumed by the Company as of March 21, 2014 (in thousands):
		Successor
		As of March 21, 2014
	Assets acquired and liabilities assumed
	Land	$	12,308
	Buildings and improvements	79,192
	Below-market lease obligation	8,400
	Furniture, fixtures and equipment	5,220
	Restricted cash	619
	Investment in unconsolidated entities	5,380
	Prepaid expenses and other assets	2,314
	Accounts payable and accrued expenses	(1,469		)
	Total assets acquired and liabilities assumed	111,964
	Contingent consideration on acquisition	(4,100		)
	Seller financing of real estate investments	(58,074		)
	Seller financing of investment in unconsolidated entities	(5,000		)
	Deferred consideration	(3,400		)
	Total assets acquired, net	$	41,390

Variable_Interest_Entities_and1

Variable Interest Entities and Investments in Unconsolidated Entities (Tables)	6 Months Ended
	Jun. 30, 2014
Variable Interest Entities and Investments in Unconsolidated Affiliates [Abstract]	'
Schedule of Variable Interest Entities	'
	Below are the condensed statements of operations for the Westin Virginia Beach JV for the three months ended June 30, 2014 and 2013 and for the period from January 1 to March 20, 2014, for the period from March 21 to June 30, 2014 and for the six months ended June 30, 2013 (in thousands):
		Successor				Predecessor				Successor					Predecessor
		Three Months Ended June 30, 2014				Three Months Ended June 30, 2013				For the Period from March 21 to June 30, 2014					For the Period from January 1 to March 20, 2014				Six Months Ended June 30, 2013
	Hotel revenue	$	3,163			$	3,064			$	3,509				$	2,070			$	5,449
	Operating income (loss)	626				897				662					(67		)		640
	Interest income	—				—				—					—				1
	Interest expense	(392		)		(348		)		(434		)			(304		)		(702		)
	Forgiveness of debt	7,522				—				7,522					—				—
	Net income (loss)	$	7,756			$	549			$	7,750				$	(371	)		$	(61	)
	Company's share of net income (loss)	2,368				168				2,366					(113		)		(18		)
	Additional amortization expense (1)	(37		)		—				(37		)			(18		)		—
	Company's share of net income (loss)	$	2,331			$	168			$	2,329				$	(131	)		$	(18	)
	_________________________________________________________________________
	(1) Amortization of the purchase price of the Predecessor’s original interest in the Westin Virginia Beach JV, less the Predecessor’s share of the partnership’s deficit, which resulted in a basis difference of $3.4 million and the Company’s original interest in the Westin Virginia Beach JV, less the Company's share of the partnership’s deficit, which resulted in a basis difference of $3.4 million.
	The Company’s and Predecessor's investments in unconsolidated entities as of June 30, 2014 and December 31, 2013, respectively, consist of the following (in thousands):
				Investment in Partnership									Income (Loss)
				Successor					Predecessor				Successor					Predecessor				Successor				Predecessor
	Partnership	Ownership Interest		June 30, 2014					December 31, 2013				Three Months Ended June 30, 2014					Three Months Ended June 30, 2013				For the Period from March 21 to June 30, 2014				For the Period from January 1 to March 20, 2014			Six Months Ended June 30, 2013
	HGI Blacksburg JV	24	%	$	1,550				$	893			$	15				$	10			$	17			$	(35	)	$	(15	)
	Westin Virginia Beach JV	30.53	%	5,931					3,488				2,331					168				2,329				(131		)	(18		)
				$	7,481				$	4,381			$	2,346				$	178			$	2,346			$	(166	)	$	(33	)
	Below are the condensed statements of operations for the HGI Blacksburg JV for the three months ended June 30, 2014 and 2013 and for the period from January 1 to March 20, 2014, for the period from March 21 to June 30, 2014 and for the six months ended June 30, 2013 (in thousands):
		Successor				Predecessor				Successor					Predecessor
		Three Months Ended June 30, 2014				Three Months Ended June 30, 2013				For the Period from March 21 to June 30, 2014					For the period from January 1 to March 20, 2014				Six Months Ended June 30, 2013
	Hotel revenue	$	1,215			$	1,166			$	1,342				$	687			$	2,076
	Operating income (loss)	206				217				226					(47		)		228
	Interest expense	(110		)		(176		)		(123		)			(97		)		(293		)
	Net income (loss)	$	96			$	41			$	103				$	(144	)		$	(65	)
	Company's share of net income (loss)	23				10				25					(35		)		(15		)
	Additional amortization expense (1)	(8		)		—				(8		)			—				—
	Company's share of net income (loss)	$	15			$	10			$	17				$	(35	)		$	(15	)
	____________________________________________________________________________
	(1) Amortization of the purchase price of the Company’s original interest in the HGI Blacksburg JV, less the Company's share of the partnership’s deficit, which resulted in a basis difference of $0.7 million.
	The maximum exposure to loss as a result of the Company’s and Predecessor's investments in unconsolidated entities as of June 30, 2014 and December 31, 2013, respectively, is as follows (in thousands)(1):
		Partnership Loan Balance									Investment in Partnership									Partnership Maximum Exposure to Loss
		Successor					Predecessor				Successor					Predecessor				Successor				Predecessor
	Partnership	30-Jun-14					December 31, 2013				June 30, 2014					December 31, 2013				June 30, 2014				December 31, 2013
	HGI Blacksburg JV	$	10,363				$	10,663			1,550					$	893			$	11,913			$	11,556
	Westin Virginia Beach JV	20,679					26,576				5,931					3,488				26,610				30,064
		$	31,042				$	37,239			$	7,481				$	4,381			$	38,523			$	41,620
	______________________________________________________________________________________________
	(1) Represents the Company's maximum exposure to loss at each unconsolidated entity should the loss be caused by the Company. As a result of the Blacksburg Payment Guaranty, the Blacksburg Cross Indemnity, the Westin Virginia Beach Non-Recourse Carve-out Guaranty and the Westin Virginia Beach Cross Indemnity, the Company and Predecessor have a maximum exposure to loss of the outstanding loan balance at the entity as well as their investment in the entity.

Leases_Tables

Leases (Tables)	6 Months Ended
	Jun. 30, 2014
Leases [Abstract]	'
Schedule of Future Minimum Lease Payments for Operating Leases	'
	The future minimum rental commitments for the Georgia Tech Hotel are as follows (in thousands):
		Minimum Rental Commitments		Amortization to Rent Expense
	July 1, 2014 - December 31, 2014	$	2,200	$	216
	Year ended December 31, 2015	4,400		433
	Year ended December 31, 2016	4,400		433
	Year ended December 31, 2017	4,400		433
	Year ended December 31, 2018	4,400		433
	Thereafter	64,533		6,328
		$	84,333	$	8,276

Mortgage_Notes_Payable_Tables

Mortgage Notes Payable (Tables)	6 Months Ended
	Jun. 30, 2014
Debt Disclosure [Abstract]	'
Schedule of Long-term Debt Instruments	'
	The Company’s and the Predecessor's mortgage note payable as of June 30, 2014 and December 31, 2013 consist of the following, respectively (in thousands):
	Successor
		Outstanding Mortgage Note Payable
	Encumbered Properties	30-Jun-14		Interest Rate			Payment		Maturity
	Baltimore Courtyard & Providence Courtyard	$	45,500	4.3	%		Interest Only, Principal paid at Maturity		Apr-19
	Predecessor
		Outstanding Mortgage Note Payable
	Encumbered Properties	December 31, 2013		Interest Rate		Payment		Maturity
	Baltimore Courtyard & Providence Courtyard	$	41,449	4.55% plus the greater		Principal		January
				of (i) three-month		and		2016
				LIBOR or (ii) a		Interest
				LIBOR floor of
				0.50%(1)
	______________________________________________________________________________________________
	(1) 5.05% at December 31, 2013

Promissory_Notes_Payable_Table

Promissory Notes Payable (Tables)	6 Months Ended
	Jun. 30, 2014
Debt Disclosure [Abstract]	'
Schedule of Promissory Notes	'
	The Company’s promissory notes payable as of June 30, 2014 are as follows (in thousands):
		Outstanding Promissory Notes Payable
	Use of Proceeds	30-Jun-14		Interest Rate		Payment	Maturity
	Portfolio Owned Assets	$	58,074	6.8	%	Interest Only	-1
	Joint Venture Assets	5,000		6.8	%	Interest Only	-1
	Property improvement plan	1,775		4.5	%	Interest Only	Mar-19
	Grace Acquisition deposit (2)	36,800		6	%	Interest Only	May-15
	______________________________________________________________________________________________
	(1) The maturity date of the Portfolio Owned Assets and Joint Venture Assets promissory notes is within ten business days upon the Company raising equal to or greater than $150.0 million in gross proceeds from the Offering. There are no principal payments under the Portfolio Owned Assets and Joint Venture Assets promissory notes payable for 2014 and 2015, unless the contingent payment feature is satisfied by raising equal to or greater than $150.0 million in gross proceeds from the Offering.
	(2) The maturity date of the affiliate note is May 27, 2015. In connection with the Grace Acquisition, the Company paid a $50.0 million customary earnest money deposit which was partially funded by entering into a $45.0 million promissory note with CARP, LLC, an entity under common ownership with the Sponsor (the "Affiliate Promissory Note"). During the three months ended June 30, 2014, the Company received proceeds from the Affiliate Promissory Note of $40.5 million and repaid $3.7 million. Interest on the Affiliate Promissory Note does not begin accruing until July 1, 2014.

Accounts_Payable_and_Accrued_E1

Accounts Payable and Accrued Expenses (Tables)	6 Months Ended
	Jun. 30, 2014
Payables and Accruals [Abstract]	'
Schedule of Accounts Payable and Accrued Liabilities	'
	The following is a summary of the components of accounts payable and accrued expenses (in thousands):
		Successor		Predecessor
		June 30, 2014		December 31, 2013
	Accounts payable and accrued expenses	$	7,088	$	2,745
	Contingent consideration from acquisition	4,246		—
	Deferred payment for acquisition	3,424		—
	Accrued salaries and related liabilities	1,127		819
	Georgia Tech Hotel lease obligation	—		1,733
		$	15,885	$	5,297

Fair_Value_Measurements_Tables

Fair Value Measurements (Tables)	6 Months Ended
	Jun. 30, 2014
Fair Value Disclosures [Abstract]	'
Fair Value, by Balance Sheet Grouping	'
	The following table shows the carrying values and the fair values of material non-current liabilities that qualify as financial instruments, determined in accordance with the authoritative guidance for disclosures about fair value of financial instruments (in thousands):
		Successor				Predecessor
		June 30, 2014				December 31, 2013
		Carrying Amount		Fair Value		Carrying Amount		Fair Value
	Mortgage note payable	$	45,500	$	45,859	$	41,449	$	38,921
	Promissory notes payable	64,849		64,849		—		—
	Affiliate note payable	36,800		36,800		—		—
	Contingent consideration on acquisition	4,246		4,246		—		—
	Deferred consideration	3,424		3,424		—		—
	Total	$	154,819	$	155,178	$	41,449	$	38,921

Related_Party_Transactions_and1

Related Party Transactions and Arrangements (Tables)	6 Months Ended
	Jun. 30, 2014
Related Party Transactions [Abstract]	'
Schedule of Related Party Transactions	'
	The table below shows the fees incurred by the Dealer Manager for the Offering during the three and six months ended June 30, 2014 and 2013, respectively, and the associated payable as of June 30, 2014 and December 31, 2013 (in thousands):
		Three Months Ended June 30,				Six Months Ended June 30,				Payable as of
		2014		2013		2014		2013		30-Jun-14		31-Dec-13
	Total commissions and fees incurred to the Dealer Manager	$	1,727	$	—	$	1,837	$	—	$	110	$	—

Subsequent_Events_Tables

Subsequent Events (Tables)	6 Months Ended
	Jun. 30, 2014
Subsequent Events [Abstract]	'
Schedule of Common Stock Offerings	'
	Total capital raised to date, including shares issued under the DRIP, is as follows (in thousands):
	Source of Capital	Inception to June 30, 2014		July 1, 2014 to July 31, 2014		Total
	Common stock	$	21,503	$	30,588	$	52,091

Organization_Details

Organization (Details) (USD $)

0 Months Ended

5 Months Ended

11 Months Ended

0 Months Ended

0 Months Ended

0 Months Ended

6 Months Ended

0 Months Ended

Feb. 03, 2014

Dec. 31, 2013

Jun. 30, 2014

Jan. 07, 2014

23-May-14

Jun. 30, 2014

23-May-14

Dec. 15, 2014

Jun. 30, 2014

Jan. 07, 2014

Jun. 30, 2014

Jan. 07, 2014

23-May-14

23-May-14

23-May-14

23-May-14

Jun. 30, 2014

23-May-14

23-May-14

23-May-14

23-May-14

hotel

The Grace Acquisition

The Grace Acquisition

The Grace Acquisition

The Grace Acquisition

Common Stock

Common Stock

Distribution Reinvestment Plan

Distribution Reinvestment Plan

Preferred equity interests

Preferred equity interests

Preferred equity interests

Preferred equity interests

American Realty Capital Hospitality Special Limited Partner, LLC

Secured Debt

Mezzanine Mortgage

London Interbank Offered Rate (LIBOR)

London Interbank Offered Rate (LIBOR)

hotel

Scenario, Forecast

The Grace Acquisition

The Grace Acquisition

The Grace Acquisition

The Grace Acquisition

The Grace Acquisition

The Grace Acquisition

Secured Debt

Mezzanine Mortgage

company

Minimum

Maximum

The Grace Acquisition

The Grace Acquisition

Class of Stock [Line Items]

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Number of properties owned (hotel)

'

'

6

'

'

'

126

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Shares authorized (in shares)

'

'

'

80,000,000

'

'

'

'

'

'

'

21,052,631

'

'

'

'

'

'

'

'

'

Par value (in dollars per share)

'

'

'

'

'

'

'

'

'

$0.01

'

'

'

'

'

'

'

'

'

'

'

Share price (in dollars per share)

'

'

$22.50

'

'

'

'

'

$25

$25

$23.75

'

'

'

'

'

'

'

'

'

'

Maximum sale amount of shares

'

'

$2,000,000,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Share price as a percent of offering price

'

'

'

'

'

'

'

'

'

'

95.00%

'

'

'

'

'

'

'

'

'

'

Subscriptions required to break escrow

2,000,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Common stock, outstanding (in shares)

'

'

874,308

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Proceeds from issuance of common stock, net

'

200,000

21,503,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Common stock outstanding

'

'

21,900,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Expected contributed capital

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

2,020

'

'

'

'

Operating partnership units (in shares)

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

90

'

'

'

'

Aggregate contract purchase price

'

'

'

'

1,925,000,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Amount of funding of purchase price through equity raises

'

'

'

'

271,000,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Funding through assumption of existing mezzanine and mortgage indebtedness

'

'

'

'

976,000,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Funding through additional mortgage and mezzanine financing

'

'

'

'

227,000,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Long term debt assumed

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

865,000,000

111,000,000

'

'

Basis spread on variable rate

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

3.11%

4.77%

Number of Loans Secured

'

'

'

'

'

'

106

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Remaining contract purchase price satisfied by issuance of preferred equity interests

'

'

'

'

'

'

'

'

'

'

'

'

451,000,000

'

'

'

'

'

'

'

'

Number of companies

'

'

'

'

'

'

'

'

'

'

'

'

'

2

'

'

'

'

'

'

'

Dividend rate per annum

'

'

'

'

'

'

'

'

'

'

'

'

'

'

7.50%

8.00%

'

'

'

'

'

Period following closing for distribution rate for holders of preferred equity interests

'

'

'

'

'

'

'

'

'

'

'

'

'18 months

'

'

'

'

'

'

'

'

Amount of repayment in full of currently outstanding unsecured obligations

'

'

'

'

'

'

'

'

'

'

'

'

63,000,000

'

'

'

'

'

'

'

'

Gross amounts of equity proceeds received by the company

'

'

'

'

'

'

'

'

'

'

'

'

150,000,000

'

'

'

'

'

'

'

'

Percentage of equity offering proceeds used to redeem the preferred equity interests at par

'

'

'

'

'

'

'

'

'

'

'

'

35.00%

'

'

'

'

'

'

'

'

Maximum amount equity offering proceeds to redeem preferred equity interests at par

'

'

'

'

'

'

'

'

'

'

'

'

350,000,000

'

'

'

'

'

'

'

'

Period for maximum equity offerings to redeem preferred equity interests at par

'

'

'

'

'

'

'

'

'

'

'

'

'12 months

'

'

'

'

'

'

'

'

Percentage required to redeem preferred equity interests at the end of third year

'

'

'

'

'

'

'

'

'

'

'

'

50.00%

'

'

'

'

'

'

'

'

Percentage required to redeem preferred equity interests at the end of fourth year

'

'

'

'

'

'

'

'

'

'

'

'

100.00%

'

'

'

'

'

'

'

'

Earnest money deposit

'

'

'

'

'

$50,000,000

$50,000,000

$25,000,000

'

'

'

'

'

'

'

'

'

'

'

'

'

Summary_of_Significant_Account3

Summary of Significant Accounting Policies (Details) (USD $)

0 Months Ended

3 Months Ended

6 Months Ended

3 Months Ended

6 Months Ended

3 Months Ended

0 Months Ended

Mar. 21, 2014

Feb. 03, 2014

Jun. 30, 2014

Jun. 30, 2013

Jun. 30, 2014

Jun. 30, 2013

Jun. 30, 2014

Mar. 20, 2014

Jun. 30, 2013

Jun. 30, 2014

Mar. 20, 2014

Jun. 30, 2014

Mar. 31, 2014

hotel

hotel

segment

Sales Revenue, Net

Predecessor

Predecessor

Predecessor

Predecessor

Predecessor

Consideration Reclassified From Investing Activities to Operating Activities

Barcelo Crestline Corp.

Barcelo Crestline Corp.

Restatement Adjustment [Member]

Summary of Significant Accounting Policies [Line Items]

'

'

'

'

'

'

'

'

'

'

'

'

'

Subscriptions required to break escrow

'

$2,000,000

'

'

'

'

'

'

'

'

'

'

'

Number of properties owned

6

6

'

'

'

'

'

'

'

'

'

'

'

Costs and expenses

'

'

'

'

'

'

'

697,000

388,000

1,138,000

0

200,000

'

Deferred contingent consideration

'

'

'

'

'

'

'

'

'

'

'

'

3,200,000

Advertising expense

'

'

$100,000

$100,000

$200,000

$200,000

'

'

'

'

'

'

'

Number of reportable segments

'

'

'

'

1

'

'

'

'

'

'

'

'

Percentage of total consolidated/ combined revenues

'

'

'

'

'

'

100.00%

'

'

'

'

'

'

Summary_of_Significant_Account4

Summary of Significant Accounting Policies - Real Estate Investments (Details)	6 Months Ended
	Jun. 30, 2014
Building	'
Property, Plant and Equipment [Line Items]	'
Estimated useful life	'40 years
Land Improvements	'
Property, Plant and Equipment [Line Items]	'
Estimated useful life	'15 years
Furniture and Fixtures	'
Property, Plant and Equipment [Line Items]	'
Estimated useful life	'5 years

Summary_of_Significant_Account5

Summary of Significant Accounting Policies - Accounts Receivable (Details) (USD $)	Jun. 30, 2014	Dec. 31, 2013	Jun. 30, 2014	Jun. 30, 2014
In Thousands, unless otherwise specified	Successor	Predecessor	Minimum	Maximum
Accounts, Notes, Loans and Financing Receivable [Line Items]	'	'	'	'
Period after which receivables are due	'	'	'30 days	'90 days
Trade receivables	$1,672	$788	'	'
Allowance for doubtful accounts	-45	-26	'	'
Trade receivables, net of allowance	$1,627	$762	'	'

Real_Estate_Investments_Narrat

Real Estate Investments - Narrative (Details) (USD $)	0 Months Ended
	Mar. 21, 2014	Feb. 03, 2014	Mar. 21, 2014
	hotel	hotel
Business Acquisition [Line Items]	'	'	'
Number of properties purchased	6	6	'
Closing costs payable in 2015	'	'	$3,000,000
Closing costs payable in 2016	'	'	500,000
Successor	'	'	'
Business Acquisition [Line Items]	'	'	'
Assets acquired	111,964,000	'	'
Contingent consideration on acquisition	4,100,000	'	'
Deferred consideration acquired	$3,400,000	'	'

Real_Estate_Investments_Detail

Real Estate Investments (Details) (Successor, USD $)	0 Months Ended
In Thousands, unless otherwise specified	Mar. 21, 2014
Successor	'
Assets acquired and liabilities assumed	'
Land	$12,308
Buildings and improvements	79,192
Below-market lease obligation	8,400
Furniture, fixtures and equipment	5,220
Restricted cash	619
Investment in unconsolidated entities	5,380
Prepaid expenses and other assets	2,314
Accounts payable and accrued expenses	-1,469
Total assets acquired	111,964
Contingent consideration on acquisition	-4,100
Seller financing of real estate investments	-58,074
Seller financing of investment in unconsolidated entities	-5,000
Deferred consideration	-3,400
Total assets acquired, net	$41,390

Variable_Interest_Entities_and2

Variable Interest Entities and Investments in Unconsolidated Entities (Details) (USD $)

3 Months Ended

6 Months Ended

5 Months Ended

6 Months Ended

5 Months Ended

6 Months Ended

0 Months Ended

Jun. 30, 2014

Jun. 30, 2014

Jun. 30, 2013

Jun. 30, 2014

Dec. 31, 2013

Dec. 31, 2013

Jun. 30, 2014

Jun. 30, 2014

Dec. 31, 2013

Jun. 30, 2014

Dec. 31, 2013

Dec. 31, 2013

Apr. 17, 2008

Jun. 30, 2014

Dec. 31, 2013

Apr. 08, 2014

Apr. 08, 2014

Jun. 30, 2014

Jun. 30, 2014

Jun. 30, 2014

HGI Blacksburg JV

HGI Blacksburg JV

HGI Blacksburg JV

HGI Blacksburg JV

HGI Blacksburg JV

HGI Blacksburg JV

HGI Blacksburg JV

Westin Virginia Beach JV

Westin Virginia Beach JV

Westin Virginia Beach JV

Predecessor

Predecessor

Predecessor

Predecessor

Predecessor

Predecessor

Predecessor

Successor

Successor

Successor

guarantor

guarantor

HGI Blacksburg JV

HGI Blacksburg JV

Westin Virginia Beach JV

Westin Virginia Beach JV

Westin Virginia Beach JV

Westin Virginia Beach JV

HGI Blacksburg JV

Westin Virginia Beach JV

Loan

Loan

Notes Payable

Blacksburg Loan

West Virginia Beach Loan

Note C

Variable Interest Entity [Line Items]

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Ownership Interest

'

'

'

24.00%

'

24.00%

24.00%

30.53%

30.53%

30.53%

'

'

'

'

'

'

'

'

'

'

Amount of loan

'

'

'

'

'

'

'

'

'

'

'

'

$13,000,000

'

'

$20,700,000

'

'

'

'

Partnership Loan Balance

'

'

'

'

'

'

'

'

'

'

37,239,000

10,663,000

'

'

26,576,000

'

'

31,042,000

10,363,000

20,679,000

Number of guarantors on debt

'

'

'

4

4

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Loan guarantee percentage

'

'

'

100.00%

100.00%

'

'

'

'

'

'

'

'

100.00%

'

'

'

'

'

'

Repayments of note payable

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

7,000,000

'

'

'

Extinguishment of Debt, Amount

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

500,000

'

'

'

Noncash capital distribution

'

'

40,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Amount of capital distribution

$240,000

$240,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Variable_Interest_Entities_and3

Variable Interest Entities and Investments in Unconsolidated Entities - Investments in Unconsolidated Affiliates (Details) (USD $)	3 Months Ended				6 Months Ended
In Thousands, unless otherwise specified	Jun. 30, 2014	Mar. 20, 2014	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013	Dec. 31, 2013
Successor	'	'	'	'	'	'	'
Schedule of Equity Method Investments [Line Items]	'	'	'	'	'	'	'
Investment in Partnership	$7,481	'	$7,481	'	$7,481	'	'
Income (Loss)	2,346	'	2,346	'	'	'	'
Predecessor	'	'	'	'	'	'	'
Schedule of Equity Method Investments [Line Items]	'	'	'	'	'	'	'
Investment in Partnership	'	'	'	'	'	'	4,381
Income (Loss)	'	-166	'	178	'	-33	'
HGI Blacksburg JV	'	'	'	'	'	'	'
Schedule of Equity Method Investments [Line Items]	'	'	'	'	'	'	'
Ownership Interest	'	'	'	'	24.00%	'	'
Investment in Partnership	1,550	'	1,550	'	1,550	'	893
Income (Loss)	15	-35	17	10	'	-15	'
HGI Blacksburg JV | Successor	'	'	'	'	'	'	'
Schedule of Equity Method Investments [Line Items]	'	'	'	'	'	'	'
Investment in Partnership	1,550	'	1,550	'	1,550	'	'
HGI Blacksburg JV | Predecessor	'	'	'	'	'	'	'
Schedule of Equity Method Investments [Line Items]	'	'	'	'	'	'	'
Investment in Partnership	'	'	'	'	'	'	893
Westin Virginia Beach JV	'	'	'	'	'	'	'
Schedule of Equity Method Investments [Line Items]	'	'	'	'	'	'	'
Ownership Interest	'	'	'	'	30.53%	'	'
Investment in Partnership	5,931	'	5,931	'	5,931	'	3,488
Income (Loss)	2,331	-131	2,329	168	'	-18	'
Westin Virginia Beach JV | Successor	'	'	'	'	'	'	'
Schedule of Equity Method Investments [Line Items]	'	'	'	'	'	'	'
Investment in Partnership	5,931	'	5,931	'	5,931	'	'
Westin Virginia Beach JV | Predecessor	'	'	'	'	'	'	'
Schedule of Equity Method Investments [Line Items]	'	'	'	'	'	'	'
Investment in Partnership	'	'	'	'	'	'	$3,488

Variable_Interest_Entities_and4

Variable Interest Entities and Investments in Unconsolidated Entities - VIE's (Details) (USD $)	Jun. 30, 2014		Dec. 31, 2013
In Thousands, unless otherwise specified
Successor	'		'
Variable Interest Entity [Line Items]	'		'
Partnership Loan Balance	$31,042		'
Investment in Partnership	7,481		'
Partnership Maximum Exposure to Loss	38,523	[1]	'
Predecessor	'		'
Variable Interest Entity [Line Items]	'		'
Partnership Loan Balance	'		37,239
Investment in Partnership	'		4,381
Partnership Maximum Exposure to Loss	'		41,620	[1]
HGI Blacksburg JV	'		'
Variable Interest Entity [Line Items]	'		'
Investment in Partnership	1,550		893
HGI Blacksburg JV | Successor	'		'
Variable Interest Entity [Line Items]	'		'
Partnership Loan Balance	10,363		'
Investment in Partnership	1,550		'
Partnership Maximum Exposure to Loss	11,913	[1]	'
HGI Blacksburg JV | Predecessor	'		'
Variable Interest Entity [Line Items]	'		'
Partnership Loan Balance	'		10,663
Investment in Partnership	'		893
Partnership Maximum Exposure to Loss	'		11,556	[1]
Westin Virginia Beach JV	'		'
Variable Interest Entity [Line Items]	'		'
Investment in Partnership	5,931		3,488
Westin Virginia Beach JV | Successor	'		'
Variable Interest Entity [Line Items]	'		'
Partnership Loan Balance	20,679		'
Investment in Partnership	5,931		'
Partnership Maximum Exposure to Loss	26,610	[1]	'
Westin Virginia Beach JV | Predecessor	'		'
Variable Interest Entity [Line Items]	'		'
Partnership Loan Balance	'		26,576
Investment in Partnership	'		3,488
Partnership Maximum Exposure to Loss	'		$30,064	[1]
[1]	Represents the Company's maximum exposure to loss at each unconsolidated entity should the loss be caused by the Company. As a result of the Blacksburg Payment Guaranty, the Blacksburg Cross Indemnity, the Westin Virginia Beach Non-Recourse Carve-out Guaranty and the Westin Virginia Beach Cross Indemnity, the Company and Predecessor have a maximum exposure to loss of the outstanding loan balance at the entity as well as their investment in the entity.

Variable_Interest_Entities_and5

Variable Interest Entities and Investments in Unconsolidated Entities - BSE/AH BLACKSBURG HOTEL, LLC (Details) (USD $)

3 Months Ended

6 Months Ended

3 Months Ended

3 Months Ended

6 Months Ended

3 Months Ended

Mar. 20, 2014

Jun. 30, 2014

Mar. 20, 2014

Jun. 30, 2013

Jun. 30, 2014

Jun. 30, 2013

Jun. 30, 2014

Jun. 30, 2014

Jun. 30, 2014

Mar. 20, 2014

Jun. 30, 2013

Jun. 30, 2013

Jun. 30, 2014

Jun. 30, 2014

Predecessor

Predecessor

Predecessor

Predecessor

Successor

Successor

HGI Blacksburg JV

HGI Blacksburg JV

HGI Blacksburg JV

HGI Blacksburg JV

HGI Blacksburg JV

HGI Blacksburg JV

Predecessor

Predecessor

Predecessor

Successor

Successor

Variable Interest Entity [Line Items]

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Hotel revenue

'

'

$6,026,000

$8,411,000

$14,964,000

'

$8,543,000

$9,508,000

'

$687,000

$1,166,000

$2,076,000

$1,215,000

$1,342,000

Operating income (loss)

'

'

'

'

'

'

'

'

'

-47,000

217,000

228,000

206,000

226,000

Interest expense

'

'

-531,000

-566,000

-1,105,000

'

-2,031,000

-2,243,000

'

-97,000

-176,000

-293,000

-110,000

-123,000

Net income (loss)

-605,000

-5,364,000

-605,000

978,000

7,000

7,000

-82,000

-5,364,000

'

-144,000

41,000

-65,000

96,000

103,000

Equity in earnings (losses) of unconsolidated entities

'

'

-166,000

178,000

-33,000

-33,000

2,346,000

2,346,000

'

-35,000

10,000

-15,000

23,000

25,000

Additional amortization expense

'

'

'

'

'

'

'

'

'

0

[1]

0

[1]

0

[1]

-8,000

[1]

-8,000

[1]

Company's share of net income (loss)

'

'

'

'

'

'

'

'

'

-35,000

10,000

-15,000

15,000

17,000

Difference in basis

'

'

'

'

'

'

'

'

$700,000

'

'

'

'

'

[1]

mortization of the purchase price of the Companybs original interest in the HGI Blacksburg JV, less the Company's share of the partnershipbs deficit, which resulted in a basis difference of $0.7 million.

Variable_Interest_Entities_and6

Variable Interest Entities and Investments in Unconsolidated Entities - TCA Block 7, LLC (Details) (USD $)

3 Months Ended

6 Months Ended

3 Months Ended

6 Months Ended

Mar. 20, 2014

Jun. 30, 2014

Jun. 30, 2014

Jun. 30, 2014

Mar. 20, 2014

Jun. 30, 2013

Jun. 30, 2014

Jun. 30, 2013

Jun. 30, 2014

Jun. 30, 2014

Jun. 30, 2014

Mar. 20, 2014

Jun. 30, 2013

Jun. 30, 2013

Successor

Successor

Predecessor

Predecessor

Predecessor

Predecessor

Westin Virginia Beach JV

Westin Virginia Beach JV

Westin Virginia Beach JV

Westin Virginia Beach JV

Westin Virginia Beach JV

Westin Virginia Beach JV

Successor

Successor

Predecessor

Predecessor

Predecessor

Variable Interest Entity [Line Items]

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Hotel revenue

'

'

$8,543,000

$9,508,000

$6,026,000

$8,411,000

$14,964,000

'

'

$3,163,000

$3,509,000

$2,070,000

$3,064,000

$5,449,000

Operating income (loss)

'

'

'

'

'

'

'

'

'

626,000

662,000

-67,000

897,000

640,000

Interest income

'

'

'

'

'

'

'

'

'

0

0

0

0

1,000

Interest expense

'

'

-2,031,000

-2,243,000

-531,000

-566,000

-1,105,000

'

'

-392,000

-434,000

-304,000

-348,000

-702,000

Forgiveness of debt

'

'

'

'

'

'

'

'

'

7,522,000

7,522,000

0

0

0

Net income (loss)

-605,000

-5,364,000

-82,000

-5,364,000

-605,000

978,000

7,000

7,000

'

7,756,000

7,750,000

-371,000

549,000

-61,000

Equity in earnings (losses) of unconsolidated entities

'

'

2,346,000

2,346,000

-166,000

178,000

-33,000

-33,000

'

2,368,000

2,366,000

-113,000

168,000

-18,000

Additional amortization expense

'

'

'

'

'

'

'

'

'

-37,000

[1]

-37,000

[1]

-18,000

[1]

0

[1]

0

[1]

Company's share of net income (loss)

'

'

'

'

'

'

'

'

'

2,331,000

2,329,000

-131,000

168,000

-18,000

Difference in basis

'

'

'

'

'

'

'

'

$3,400,000

'

'

'

'

'

[1]

Amortization of the purchase price of the Predecessorbs original interest in the Westin Virginia Beach JV, less the Predecessorbs share of the partnershipbs deficit, which resulted in a basis difference of $3.4 million and the Companybs original interest in the Westin Virginia Beach JV, less the Company's share of the partnershipbs deficit, which resulted in a basis difference of $3.4 million.

Leases_Details

Leases (Details) (USD $)	6 Months Ended	3 Months Ended				6 Months Ended	3 Months Ended	6 Months Ended
In Thousands, unless otherwise specified	Jun. 30, 2014	Jun. 30, 2014	Jun. 30, 2014	Mar. 20, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2014	Jun. 30, 2014
		Successor	Successor	Predecessor	Predecessor	Predecessor	Georgia Tech Hotel	Georgia Tech Hotel
Operating Leased Assets [Line Items]	'	'	'	'	'	'	'	'
Initial lease term	'30 years	'	'	'	'	'	'	'
Lease extension term	'10 years	'	'	'	'	'	'	'
Rent	'	$1,223	$1,353	$933	$1,074	$2,136	$100	$100

Leases_Future_Minimum_Lease_Pa

Leases - Future Minimum Lease Payments (Details) (USD $)	Jun. 30, 2014
In Thousands, unless otherwise specified
Minimum Rental Commitments	'
July 1, 2014 - December 31, 2014	$2,200
Year ended December 31, 2015	4,400
Year ended December 31, 2016	4,400
Year ended December 31, 2017	4,400
Year ended December 31, 2018	4,400
Thereafter	64,533
Total	84,333
Amortization to Rent Expense	'
July 1, 2014 - December 31, 2014	216
Year ended December 31, 2015	433
Year ended December 31, 2016	433
Year ended December 31, 2017	433
Year ended December 31, 2018	433
Thereafter	6,328
Total	$8,276

Mortgage_Notes_Payable_Details

- Mortgage Notes Payable (Details) (USD $)	Jun. 30, 2014	Jun. 30, 2014		Dec. 31, 2013	Dec. 31, 2013		Dec. 31, 2013
In Thousands, unless otherwise specified	Successor	Successor		Predecessor	Predecessor		Predecessor
		Mortgage note payable			Mortgage note payable		Mortgage note payable
							London Interbank Offered Rate (LIBOR)
Debt Instrument [Line Items]	'	'		'	'		'
Mortgage note payable	$45,500	$45,500		$41,449	$41,449		'
Interest Rate (percent)	'	4.30%	[1]	'	'		'
Basis spread on variable rate	'	'		'	4.55%	[1]	'
LIBOR floor	'	'		'	'		0.50%	[1]
Rate at year end	'	'		'	5.05%		'
[1]	5.05% at DecemberB 31, 2013

Mortgage_Notes_Payable_Narrati

Mortgage Notes Payable - Narrative (Details) (USD $)	3 Months Ended				6 Months Ended
In Millions, unless otherwise specified	Jun. 30, 2014	Jun. 30, 2014	Mar. 20, 2014	Jun. 30, 2013	Jun. 30, 2013
	Successor	Successor	Predecessor	Predecessor	Predecessor
Debt Instrument [Line Items]	'	'	'	'	'
Interest expense	$0.50	$0.60	$0.50	$0.60	$1.10

Promissory_Notes_Payable_Detai

Promissory Notes Payable (Details) (USD $)

3 Months Ended

Jun. 30, 2014

Jun. 30, 2014

Jun. 30, 2014

Jun. 30, 2014

Jun. 30, 2014

Jun. 30, 2014

Jun. 30, 2014

Jun. 30, 2014

Jun. 30, 2014

23-May-14

Jun. 30, 2014

Promissory notes payable

Promissory notes payable

Successor

Successor

Successor

Successor

Successor

Successor

The Grace Acquisition

The Grace Acquisition

The Grace Acquisition

Promissory notes payable

Promissory notes payable

Promissory notes payable

Promissory notes payable

Promissory notes payable

Portfolio Owned Assets

Joint Venture Assets

Property improvement plan

Grace Acquisition Deposit

Debt Instrument [Line Items]

'

'

'

'

'

'

'

'

'

'

'

Promissory notes payable

'

'

$64,849,000

$64,849,000

$58,074,000

[1]

$5,000,000

[1]

$1,775,000

$36,800,000

[2]

'

'

'

Interest Rate (percent)

'

'

'

'

6.80%

[1]

6.80%

[1]

4.50%

6.00%

[2]

'

'

'

Interest expense

1,100,000

1,200,000

500,000

600,000

'

'

'

'

'

'

'

Minimum common equity raised requirement for ten day maturity of notes

150,000,000

150,000,000

'

'

'

'

'

'

'

'

'

Proceeds from affiliate note payable used to fund acquisition deposit

'

'

'

40,500,000

'

'

'

'

'

'

'

Repayment of affiliate note payable used to fund acquisition deposit

'

'

'

3,700,000

'

'

'

'

'

'

'

Earnest money deposit

'

'

'

'

'

'

'

'

$50,000,000

$50,000,000

$45,000,000

[1]

The maturity date of the Portfolio Owned Assets and Joint Venture Assets promissory notes is within ten business days upon the Company raising equal to or greater than $150.0 million in gross proceeds from the Offering. There are no principal payments under the Portfolio Owned Assets and Joint Venture Assets promissory notes payable for 2014 and 2015, unless the contingent payment feature is satisfied by raising equal to or greater than $150.0 million in gross proceeds from the Offering.

[2]

The maturity date of the affiliate note is May 27, 2015. In connection with the Grace Acquisition, the Company paid a $50.0 million customary earnest money deposit which was partially funded by entering into a $45.0 million promissory note with CARP, LLC, an entity under common ownership with the Sponsor (the "Affiliate Promissory Note"). During the three months ended June 30, 2014, the Company received proceeds from the Affiliate Promissory Note of $40.5 million and repaid $3.7 million. Interest on the Affiliate Promissory Note does not begin accruing until July 1, 2014.

Accounts_Payable_and_Accrued_E2

Accounts Payable and Accrued Expenses (Details) (USD $)	Jun. 30, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified	Successor	Predecessor
Accounts Payable and Accrued Expenses [Line Items]	'	'
Accounts payable and accrued expenses	$7,088	$2,745
Contingent consideration from acquisition	4,246	0
Deferred payment for acquisition	3,424	0
Accrued salaries and related liabilities	1,127	819
Georgia Tech Hotel lease obligation	0	1,733
Accounts Payable and Accrued Liabilities	$15,885	$5,297

Common_Stock_Details

Common Stock (Details) (USD $)

0 Months Ended

5 Months Ended

11 Months Ended

3 Months Ended

11 Months Ended

12 Months Ended

6 Months Ended

6 Months Ended

In Thousands, except Share data, unless otherwise specified

Feb. 03, 2014

Dec. 31, 2013

Jun. 30, 2014

Jun. 30, 2014

Jun. 30, 2014

Dec. 31, 2013

Mar. 20, 2014

Jun. 30, 2014

Jun. 30, 2014

Jun. 30, 2014

Jun. 30, 2014

Jun. 30, 2014

Jun. 30, 2014

Jun. 30, 2014

Common Stock

Common Stock

Common Stock

Common Stock

Share Repurchase Program

One Year

Two Years

Three Years

Four Years

Four Months

Restricted Unvested Common Stock

Share Repurchase Program

Share Repurchase Program

Share Repurchase Program

Share Repurchase Program

Share Repurchase Program

Class of Stock [Line Items]

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Common stock, outstanding (in shares)

'

'

874,308

874,308

874,308

8,888

114,497

'

'

'

'

'

'

8,888

Proceeds from issuance of common stock, net

'

$200

$21,503

'

'

'

'

'

'

'

'

'

'

'

Dividends declared per day (in dollars per share)

$0.00

'

'

'

'

'

'

'

'

'

'

'

'

'

Dividends declared per share (in dollars per share)

$1.70

'

'

'

'

'

'

'

'

'

'

'

'

'

Share price (in dollars per share)

'

'

$22.50

'

'

'

'

'

$23.13

$23.75

$24.38

$25

'

'

Share repurchase price maximum percent of price paid (percent)

'

'

'

'

'

'

'

'

92.50%

95.00%

97.50%

100.00%

'

'

Short-term trading fee (percent)

'

'

'

'

'

'

'

'

'

'

'

'

2.00%

'

Maximum percentage of shares authorized to repurchase during year (percent)

'

'

'

'

'

'

'

5.00%

'

'

'

'

'

'

Common stock issued through Distribution Reinvestment Plan (in shares)

'

'

'

834

834

0

'

'

'

'

'

'

'

'

Fair_Value_Measurements_Detail

Fair Value Measurements (Details) (Fair Value, Inputs, Level 3, USD $)

Jun. 30, 2014

Jun. 30, 2014

Dec. 31, 2013

Dec. 31, 2013

Jun. 30, 2014

Jun. 30, 2014

Dec. 31, 2013

Dec. 31, 2013

Jun. 30, 2014

Jun. 30, 2014

Dec. 31, 2013

Dec. 31, 2013

Jun. 30, 2014

Jun. 30, 2014

Dec. 31, 2013

Dec. 31, 2013

Jun. 30, 2014

Jun. 30, 2014

Dec. 31, 2013

Dec. 31, 2013

Jun. 30, 2014

Jun. 30, 2014

Dec. 31, 2013

Dec. 31, 2013

In Thousands, unless otherwise specified

Successor

Successor

Predecessor

Predecessor

Mortgage note payable

Mortgage note payable

Mortgage note payable

Mortgage note payable

Promissory notes payable

Promissory notes payable

Promissory notes payable

Promissory notes payable

Affiliate note payable

Affiliate note payable

Affiliate note payable

Affiliate note payable

Contingent consideration on acquisition

Contingent consideration on acquisition

Contingent consideration on acquisition

Contingent consideration on acquisition

Deferred consideration

Deferred consideration

Deferred consideration

Deferred consideration

Carrying Amount

Fair Value

Carrying Amount

Fair Value

Successor

Successor

Predecessor

Predecessor

Successor

Successor

Predecessor

Predecessor

Successor

Successor

Predecessor

Predecessor

Successor

Successor

Predecessor

Predecessor

Successor

Successor

Predecessor

Predecessor

Carrying Amount

Fair Value

Carrying Amount

Fair Value

Carrying Amount

Fair Value

Carrying Amount

Fair Value

Carrying Amount

Fair Value

Carrying Amount

Fair Value

Carrying Amount

Fair Value

Carrying Amount

Fair Value

Carrying Amount

Fair Value

Carrying Amount

Fair Value

Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Debt, fair value

$154,819

$155,178

$41,449

$38,921

$45,500

$45,859

$41,449

$38,921

$64,849

$64,849

$0

$0

$36,800

$36,800

$0

$0

$4,246

$4,246

$0

$0

$3,424

$3,424

$0

$0

Commitments_and_Contingencies_

Commitments and Contingencies (Details) (USD $)	Jun. 30, 2014	Mar. 21, 2014
In Millions, unless otherwise specified	hotel
Commitments and Contingencies Disclosure [Abstract]	'	'
Number of properties owned (hotel)	6	'
Closing costs payable in 2015	'	$3
Closing costs payable in 2016	'	$0.50
Deferred compensation interest accrual rate	6.80%	'

Related_Party_Transactions_and2

Related Party Transactions and Arrangements (Details) (USD $)	Jun. 30, 2014		Dec. 31, 2013
Related Party Transaction [Line Items]	'		'
Common stock, outstanding (in shares)	874,308		'
Due to affiliates	'		$600,000
Special Limited Partner	'		'
Related Party Transaction [Line Items]	'		'
Common stock, outstanding (in shares)	8,888		'
Successor	'		'
Related Party Transaction [Line Items]	'		'
Common stock, outstanding (in shares)	874,308		'
Due to affiliates	3,243,000		'
Promissory notes payable	64,849,000		'
Successor | Promissory notes payable	'		'
Related Party Transaction [Line Items]	'		'
Affiliate note payable	'		0
Grace Acquisition Deposit | Successor | Promissory notes payable	'		'
Related Party Transaction [Line Items]	'		'
Promissory notes payable	36,800,000	[1]	'
[1]	The maturity date of the affiliate note is May 27, 2015. In connection with the Grace Acquisition, the Company paid a $50.0 million customary earnest money deposit which was partially funded by entering into a $45.0 million promissory note with CARP, LLC, an entity under common ownership with the Sponsor (the "Affiliate Promissory Note"). During the three months ended June 30, 2014, the Company received proceeds from the Affiliate Promissory Note of $40.5 million and repaid $3.7 million. Interest on the Affiliate Promissory Note does not begin accruing until July 1, 2014.

Related_Party_Transactions_and3

Related Party Transactions and Arrangements - Fees Paid in Connection with the Offering (Details) (USD $)	6 Months Ended					3 Months Ended		6 Months Ended			12 Months Ended
	Jun. 30, 2014	Dec. 31, 2013	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2014	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013	Dec. 31, 2013	Dec. 31, 2013
				Dealer Manager	Participating Broker Dealers	Commissions and Brokerage Fees	Commissions and Brokerage Fees	Commissions and Brokerage Fees	Commissions and Brokerage Fees	Commissions and Brokerage Fees	Offering Costs, Other than Selling, Commissions, Dealer Fees
						Dealer Manager	Dealer Manager	Dealer Manager	Dealer Manager	Dealer Manager	Dealer Manager
Related Party Transaction [Line Items]	'	'	'	'	'	'	'	'	'	'	'
Sales commissions earned by related party (percent)	'	'	'	7.00%	7.50%	'	'	'	'	'	'
Gross proceeds from the sales of common stock, before allowances (percent)	'	'	'	3.00%	'	'	'	'	'	'	'
Brokerage fees earned by related party (percent)	'	'	'	2.50%	'	'	'	'	'	'	'
Brokerage fees earned by related party (percent)	'	'	'	'	1.00%	'	'	'	'	'	'
Liability for initial public offering costs (percent)	2.00%	'	'	'	'	'	'	'	'	'	'
Offering and related costs in excess of gross proceeds form the offering limit	'	$1,500,000	$2,200,000	'	'	'	'	'	'	'	'
Fees incurred with the offering	'	'	'	'	'	1,727,000	0	1,837,000	0	'	1,500,000
Maximum amount of aggregate selling commissions dealer fees and other organizational offering costs (percent)	12.00%	'	'	'	'	'	'	'	'	'	'
Due to affiliates	'	$600,000	'	'	'	$110,000	'	$110,000	'	$0	'

Related_Party_Transactions_and4

Related Party Transactions and Arrangements - Fees Paid in Connection With the Operations of the Company (Details) (USD $)	3 Months Ended		6 Months Ended
	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013
Related Party Transaction [Line Items]	'	'	'	'
Quarterly asset management fee earned (percent)	0.19%	'	0.19%	'
Share price (in dollars per share)	$22.50	'	$22.50	'
Conversion threshold for units of aggregate capital contributed (percent)	6.00%	'	6.00%	'
Property management fee (percent)	'	'	4.00%	'
Property management expenses	$500,000	'	$800,000	'
ARC Realty Finance Advisors, LLC	'	'	'	'
Related Party Transaction [Line Items]	'	'	'	'
Real estate acquisition fee (percent)	1.50%	'	1.50%	'
Real estate acquisition fee reimbursement maximum (percent)	0.10%	'	0.10%	'
Real estate acquisition fee acquisition cost reimbursement aggregate (percent)	1.90%	'	1.90%	'
Real estate acquisition fee acquisition maximum (percent)	4.50%	'	4.50%	'
Acquisition and transaction related	1,600,000	0	1,600,000	0
Annual asset management fee lower of cost of assets or net asset value (percent)	0.75%	'	0.75%	'
Reimbursement costs for administrative services maximum of operating expenses (percent)	2.00%	'	2.00%	'
Reimbursement costs for administrative services maximum of net income (percent)	25.00%	'	25.00%	'
Financing Coordination Fees | ARC Realty Finance Advisors, LLC	'	'	'	'
Related Party Transaction [Line Items]	'	'	'	'
Fees incurred with the offering	$800,000	$0	$800,000	$0
Common Class B	'	'	'	'
Related Party Transaction [Line Items]	'	'	'	'
Units issued (shares)	9,274	'	9,274	'

Related_Party_Transactions_and5

Related Party Transactions and Arrangements - Fees Paid in Connection with the Liquidation or Listing of the Companybs Real Estate Assets (Details)	Jun. 30, 2014
ARC Realty Finance Advisors, LLC	'
Related Party Transaction [Line Items]	'
Subordinated performance fee return threshold (percent)	6.00%
Subordinated participation in asset sale fee (percent)	15.00%
Subordinated participation in asset sale fee maximum (percent)	10.00%
Transaction termination or nonrenewal of advisory agreement fee (percent)	15.00%
Termination or nonrenewal of advisory agreement fee threshold (percent)	6.00%
Special Limited Partner	'
Related Party Transaction [Line Items]	'
Subordinated incentive listing distribution (percent)	15.00%
Annual Targeted Investor Return | Special Limited Partner	'
Related Party Transaction [Line Items]	'
Cumulative capital investment return (percent)	6.00%
Brokerage Commission Fees | ARC Realty Finance Advisors, LLC	'
Related Party Transaction [Line Items]	'
Real estate commission earned by related party (percent)	2.00%
Brokerage Fee Commission for Third Party | ARC Realty Finance Advisors, LLC	'
Related Party Transaction [Line Items]	'
Real estate commission earned by related party (percent)	50.00%
Real Estate Commissions | ARC Realty Finance Advisors, LLC	'
Related Party Transaction [Line Items]	'
Real estate commission earned by related party (percent)	6.00%

ShareBased_Payments_Details

Share-Based Payments (Details) (USD $)	3 Months Ended	6 Months Ended
In Thousands, except Share data, unless otherwise specified	Jun. 30, 2014	Jun. 30, 2014	Dec. 31, 2013
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]	'	'	'
Share price (in dollars per share)	$22.50	$22.50	'
Restricted Share | Restricted Stock	'	'	'
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]	'	'	'
Shares automatically granted (in shares)	1,333	1,333	'
Vesting period	'	'5 years	'
Annual vesting percentage	20.00%	20.00%	'
Percentage of stock outstanding maximum (percent)	'	5.00%	'
Shares authorized (in shares)	4,000,000	4,000,000	'
Shares granted (in shares)	3,999	3,999	0
Compensation expense	$5	$9	'
Director	'	'	'
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]	'	'	'
Share price (in dollars per share)	$22.50	$22.50	'

Subsequent_Events_Details

Subsequent Events (Details) (USD $)	5 Months Ended	11 Months Ended			1 Months Ended	12 Months Ended	13 Months Ended		0 Months Ended
	Dec. 31, 2013	Jun. 30, 2014	Jun. 30, 2014	23-May-14	Jul. 31, 2014	Jul. 31, 2014	Jul. 31, 2014	Jun. 30, 2014	Aug. 14, 2014	Aug. 14, 2014	Dec. 15, 2014
			The Grace Acquisition	The Grace Acquisition	Subsequent Event	Subsequent Event	Subsequent Event	Promissory notes payable	Promissory notes payable	Promissory notes payable	Scenario, Forecast
								The Grace Acquisition	Subsequent Event	Subsequent Event	The Grace Acquisition
Subsequent Event [Line Items]	'	'	'	'	'	'	'	'	'	'	'
Common stock, outstanding (in shares)	'	874,308	'	'	2,100,000	2,100,000	2,100,000	'	'	'	'
Proceeds from issuance of common stock, net	$200,000	$21,503,000	'	'	$30,588,000	$52,091,000	$52,100,000	'	'	'	'
Value of common stock	'	'	'	'	52,700,000	52,700,000	52,700,000	'	'	'	'
Repayments of note payable	'	'	'	'	'	'	'	'	32,700,000	'	'
Affiliate note payable	'	'	'	'	'	'	'	'	'	4,100,000	'
Acquisition deposit	'	'	$50,000,000	$50,000,000	'	'	'	$45,000,000	'	'	$25,000,000