Hospitality Investors Trust (HPITQ) 10-K 31 Mar 17 2016 FY Annual report Financial data

Document and Entity Information

Document and Entity Information - USD ($)	12 Months Ended
	Dec. 31, 2016	Mar. 15, 2017	Jun. 30, 2016
Document and Entity Information [Abstract]
Entity Registrant Name	HOSPITALITY INVESTORS TRUST, INC.
Entity Central Index Key	1,583,077
Current Fiscal Year End Date	--12-31
Entity Filer Category	Smaller Reporting Company
Document Type	10-K
Document Period End Date	Dec. 31, 2016
Document Fiscal Year Focus	2,016
Document Fiscal Period Focus	FY
Amendment Flag	false
Entity Common Stock, Shares Outstanding		38,813,408
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Public Float			$ 0

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2015
Real estate investments:
Land	$ 339,819	$ 317,871
Buildings and improvements	1,838,594	1,729,960
Furniture, fixtures and equipment	212,994	163,516
Total real estate investments	2,391,407	2,211,347
Less: accumulated depreciation and amortization	(169,486)	(70,648)
Total real estate investments, net	2,221,921	2,140,699
Cash and cash equivalents	42,787	46,829
Acquisition deposits	7,500	40,504
Restricted cash	35,050	71,288
Investments in unconsolidated entities	3,490	3,458
Below-market lease asset, net	9,827	10,225
Prepaid expenses and other assets	32,836	34,836
Total Assets	2,353,411	2,347,839
LIABILITIES, NON-CONTROLLING INTEREST AND EQUITY
Mortgage notes payable, net	1,410,925	1,341,033
Promissory notes payable, net	23,380	0
Mandatorily redeemable preferred securities, net	288,265	291,796
Accounts payable and accrued expenses	68,519	67,255
Due to Related Parties	2,879	6,546
Total Liabilities	1,793,968	1,706,630
Equity
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, 38,493,430 and 36,300,777 shares issued and outstanding as of December 31, 2016, and December 31, 2015, respectively	385	363
Additional paid-in capital	843,149	793,786
Deficit	(286,852)	(155,680)
Total equity of Hospitality Investors Trust, Inc. stockholders	556,682	638,469
Non-controlling interest - consolidated variable interest entity	2,761	2,740
Total Equity	559,443	641,209
Total Liabilities, Non-controlling Interest and Equity	$ 2,353,411	$ 2,347,839

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Dec. 31, 2016	Dec. 31, 2015
Statement of Financial Position [Abstract]
Preferred stock, par value (usd per share)	$ 0.01	$ 0.01
Preferred stock, authorized (shares)	50,000,000	50,000,000
Preferred stock, issued (shares)	0	0
Preferred stock, outstanding (shares)	0	0
Common stock, par value (usd per share)	$ 0.01	$ 0.01
Common stock, authorized (shares)	300,000,000	300,000,000
Common stock, issued (shares)	38,493,430	36,300,777
Common stock, outstanding (shares)	38,493,430	36,300,777

CONSOLIDATED_COMBINED STATEMENT

CONSOLIDATED/COMBINED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS - USD ($) $ in Thousands	3 Months Ended	9 Months Ended	12 Months Ended
	Mar. 20, 2014	Dec. 31, 2014	Dec. 31, 2016	Dec. 31, 2015
Operating expenses
Impairment of real estate investments			$ 2,400
Provision for income taxes			1,371	$ 3,106
Less: Net income attributable to non-controlling interests			315	189
Net loss attributable to Hospitality Investors Trust, Inc.		$ (14,841)	(72,247)	(94,826)
Successor
Revenues
Rooms		26,163	566,633	420,617
Food and beverage		5,612	20,039	15,908
Other		3,096	12,920	9,659
Total revenue		34,871	599,592	446,184
Operating expenses
Rooms		5,411	139,169	99,543
Food and beverage		3,785	15,986	12,774
Management fees		1,498	42,560	22,107
Other property-level operating expenses		13,049	230,546	171,488
Depreciation and amortization		2,796	101,007	68,500
Impairment of real estate investments		0	2,399	0
Rent		3,879	6,714	6,249
Total operating expenses		30,418	538,381	380,661
Income from operations		4,453	61,211	65,523
Interest expense		(5,958)	(92,264)	(80,667)
Acquisition and transaction related costs		(10,884)	(25,270)	(64,513)
Other income (expense)		103	1,169	(491)
Equity in earnings (losses) of unconsolidated entities		352	399	238
General and administrative		(2,316)	(15,806)	(11,621)
Total other expenses, net		(18,703)	(131,772)	(157,054)
Net loss before taxes		(14,250)	(70,561)	(91,531)
Provision for income taxes		591	1,371	3,106
Net loss and comprehensive loss		(14,841)	(71,932)	(94,637)
Less: Net income attributable to non-controlling interests		0	315	189
Net loss attributable to Hospitality Investors Trust, Inc.		$ (14,841)	$ (72,247)	$ (94,826)
Basic and diluted net loss per share (usd per share)		$ (3.04)	$ (1.86)	$ (3.61)
Basic and diluted weighted average shares outstanding (shares)		4,874,229	38,732,949	26,247,563
Predecessor
Revenues
Rooms	$ 6,026
Food and beverage	1,543
Other	676
Total revenue	8,245
Operating expenses
Rooms	1,405
Food and beverage	1,042
Management fees	289
Other property-level operating expenses	3,490
Depreciation and amortization	994
Impairment of real estate investments	0
Rent	933
Total operating expenses	8,153
Income from operations	92
Interest expense	(531)
Acquisition and transaction related costs	0
Other income (expense)	0
Equity in earnings (losses) of unconsolidated entities	(166)
General and administrative	0
Total other expenses, net	(697)
Net loss before taxes	(605)
Provision for income taxes	0
Net loss and comprehensive loss	(605)
Less: Net income attributable to non-controlling interests	0
Net loss attributable to Hospitality Investors Trust, Inc.	$ (605)

CONSOLIDATED_COMBINED STATEMEN5

CONSOLIDATED/COMBINED STATEMENT OF CHANGES IN EQUITY - USD ($) $ in Thousands	Total	Common Stock	Additional Paid-in Capital	Deficit	Total Equity of American Realty Capital Hospitality Trust, Inc. Stockholders	Non-controlling Interest	Members' Equity
Beginning balance (in shares) at Dec. 31, 2013		8,888
Beginning balance at Dec. 31, 2013	$ 194	$ 0	$ 200	$ (6)	$ 194	$ 0	$ 88,496
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock (in shares)		105,609
Issuance of common stock, net	2,418	$ 1	2,417		2,418
Net loss attributable to Hospitality Investors Trust, Inc.							(605)
Dividends paid or declared							(800)
Common stock offering costs, commissions and dealer manager fees	(1,529)		(1,529)		(1,529)
Ending balance (in shares) at Mar. 20, 2014		114,497
Ending balance at Mar. 20, 2014	1,083	$ 1	1,088	(6)	1,083	0	87,091
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock (in shares)		9,984,711
Issuance of common stock, net	248,715	$ 100	248,615		248,715
Net loss attributable to Hospitality Investors Trust, Inc.	(14,841)			(14,841)	(14,841)
Dividends paid or declared	(4,839)			(4,839)	(4,839)
Proceeds received from Successor for the assets of Predecessor							(87,091)
Common stock issued through Distribution Reinvestment Plan (in shares)		63,998
Common stock issued through Distribution Reinvestment Plan	1,521	$ 1	1,520		1,521
Share-based payments	22		22		22
Common stock offering costs, commissions and dealer manager fees	(29,866)		(29,866)		(29,866)
Ending balance (in shares) at Dec. 31, 2014		10,163,206
Ending balance at Dec. 31, 2014	201,795	$ 102	221,379	(19,686)	201,795	0	0
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock (in shares)		25,373,352
Issuance of common stock, net	631,779	$ 253	631,526		631,779
Net loss attributable to Hospitality Investors Trust, Inc.	(94,826)			(94,826)	(94,826)
Dividends paid or declared	(41,168)			(41,168)	(41,168)
Net income attributable to non-controlling interests	189					189
Non-controlling interest - consolidated variable interest entity	2,551					2,551
Common stock issued through Distribution Reinvestment Plan (in shares)		764,219
Common stock issued through Distribution Reinvestment Plan	18,158	$ 8	18,150		18,158
Share-based payments	74		74		74
Common stock offering costs, commissions and dealer manager fees	$ (77,343)		(77,343)		(77,343)
Ending balance (in shares) at Dec. 31, 2015	36,300,777	36,300,777
Ending balance at Dec. 31, 2015	$ 641,209	$ 363	793,786	(155,680)	638,469	2,740	0
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net loss attributable to Hospitality Investors Trust, Inc.	$ (43,957)
Ending balance (in shares) at Mar. 31, 2016	36,636,016
Beginning balance (in shares) at Dec. 31, 2015	36,300,777	36,300,777
Beginning balance at Dec. 31, 2015	$ 641,209	$ 363	793,786	(155,680)	638,469	2,740	0
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock (in shares)		61,181
Issuance of common stock, net	1,147	$ 1	1,146		1,147
Net loss attributable to Hospitality Investors Trust, Inc.	(72,247)			(72,247)	(72,247)
Dividends paid or declared (in shares)		1,732,822
Dividends paid or declared	(20,505)	$ 17	38,697	(58,925)	(20,211)	(294)
Net income attributable to non-controlling interests	315					315
Common stock issued through Distribution Reinvestment Plan (in shares)		398,650
Common stock issued through Distribution Reinvestment Plan	9,468	$ 4	9,464		9,468
Share-based payments	66		66		66
Common stock offering costs, commissions and dealer manager fees	$ (10)		(10)		(10)
Ending balance (in shares) at Dec. 31, 2016	38,493,430	38,493,430
Ending balance at Dec. 31, 2016	$ 559,443	$ 385	$ 843,149	$ (286,852)	$ 556,682	$ 2,761	$ 0

CONSOLIDATED_COMBINED STATEMEN6

CONSOLIDATED/COMBINED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	3 Months Ended	9 Months Ended	12 Months Ended
	Mar. 20, 2014	Dec. 31, 2014	Dec. 31, 2016	Dec. 31, 2015
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:
Impairment of real estate investments			$ 2,400
Cash flows from financing activities:
Cash and cash equivalents, beginning of period			46,829
Cash and cash equivalents, end of period			42,787	$ 46,829
Successor
Cash flows from operating activities:
Net loss		$ (14,841)	(71,932)	(94,637)
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:
Depreciation and amortization		2,796	101,007	68,500
Impairment of real estate investments		0	2,399	0
Gain on sale of hotel		0	(2,539)	0
Amortization and write-off of deferred financing costs		595	9,547	11,161
Change in fair value of contingent consideration		0	1,455	780
Loss of acquisition deposits		0	22,000	0
Other adjustments, net		454	363	768
Changes in assets and liabilities:
Prepaid expenses and other assets		(7,923)	2,982	(15,175)
Restricted cash		(783)	(389)	(11,602)
Due to Related Parties		5,042	(3,399)	1,259
Accounts payable and accrued expenses		5,010	6,352	45,453
Net cash provided by (used in) operating activities		(9,650)	67,846	6,507
Cash flows from investing activities:
Acquisition of hotel assets, net of cash acquired		(41,388)	(69,892)	(629,760)
Proceeds from sale of hotel, net		0	12,710	0
Real estate investment improvements and purchases of property and equipment		(3,659)	(91,311)	(46,523)
Acquisition deposits		(75,000)	0	(40,504)
Change in restricted cash related to real estate improvements		(2,035)	36,627	(55,259)
Net cash used in investing activities		(122,082)	(111,866)	(772,046)
Cash flows from financing activities:
Proceeds from issuance of common stock, net		249,569	678	631,698
Payments of offering costs and fees related to equity issuances		(28,071)	(1,055)	(79,280)
Dividends/Distributions paid		(1,950)	(11,500)	(19,153)
Affiliate financing advancement		2,570	0	0
Repayments of promissory and mortgage notes payable		0	(13,473)	(291,849)
Payment of deferred consideration payable		0	0	(3,500)
Affiliate financing repayment		(3,214)	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		(40,500)	0	0
Mandatorily redeemable preferred securities redemptions		0	(4,335)	(152,574)
Proceeds from mortgage notes payable		45,500	70,384	624,100
Proceeds from promissory note payable		1,775	0	0
Deferred financing fees		(2,586)	(721)	(27,944)
Restricted cash for debt service		0		(991)
Net cash provided by (used in) financing activities		263,593	39,978	680,507
Net change in cash and cash equivalents		131,861	(4,042)	(85,032)
Cash and cash equivalents, beginning of period		0	46,829	131,861
Cash and cash equivalents, end of period	$ 0	131,861	42,787	46,829
Supplemental disclosure of cash flow information:
Interest paid		4,645	84,683	68,108
Income taxes paid		760	763	6,408
Non-cash investing and financing activities:
Reclassification of deferred offering costs to additional paid-in capital		1,505	0	0
Offering costs payable		2,481	0	308
Real estate investment improvements and purchases of property and equipment in accounts payable and accrued expenses		1,033	12,478	17,518
Proceeds receivable from stock sales		1,564	0	90
Seller financed acquisition		58,074	20,000	0
Seller financed acquisition deposit		0	7,500	0
Seller financing of investment in unconsolidated entities		5,000	0	0
Mortgage and mezzanine debt assumed on real estate investments		0	0	904,185
Mandatorily redeemable preferred securities issued in acquisition of property and equipment		0	0	447,097
Contingent consideration on acquisition		2,268	0	0
Deferred consideration on acquisition		3,400	0	0
Dividends declared but not paid		1,368	4,765	4,936
Common stock issued through distribution reinvestment plan		1,520	$ 9,468	$ 18,150
Predecessor
Cash flows from operating activities:
Net loss	(605)
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:
Depreciation and amortization	994
Impairment of real estate investments	0
Gain on sale of hotel	0
Amortization and write-off of deferred financing costs	75
Change in fair value of contingent consideration	0
Loss of acquisition deposits	0
Other adjustments, net	166
Changes in assets and liabilities:
Prepaid expenses and other assets	(581)
Restricted cash	0
Due to Related Parties	0
Accounts payable and accrued expenses	(605)
Net cash provided by (used in) operating activities	(556)
Cash flows from investing activities:
Acquisition of hotel assets, net of cash acquired	0
Proceeds from sale of hotel, net	0
Real estate investment improvements and purchases of property and equipment	(83)
Acquisition deposits	0
Change in restricted cash related to real estate improvements	(468)
Net cash used in investing activities	(551)
Cash flows from financing activities:
Proceeds from issuance of common stock, net	0
Payments of offering costs and fees related to equity issuances	0
Dividends/Distributions paid	(800)
Affiliate financing advancement	0
Repayments of promissory and mortgage notes payable	(137)
Payment of deferred consideration payable	0
Affiliate financing repayment	0
Proceeds from affiliate note payable used to fund acquisition deposit	0
Repayment of affiliate note payable used to fund acquisition deposit	0
Mandatorily redeemable preferred securities redemptions	0
Proceeds from mortgage notes payable	0
Proceeds from promissory note payable	0
Deferred financing fees	0
Restricted cash for debt service	0
Net cash provided by (used in) financing activities	(937)
Net change in cash and cash equivalents	(2,044)
Cash and cash equivalents, beginning of period	10,520	$ 8,476
Cash and cash equivalents, end of period	8,476
Supplemental disclosure of cash flow information:
Interest paid	458
Income taxes paid	0
Non-cash investing and financing activities:
Reclassification of deferred offering costs to additional paid-in capital	0
Offering costs payable	0
Real estate investment improvements and purchases of property and equipment in accounts payable and accrued expenses	0
Proceeds receivable from stock sales	0
Seller financed acquisition	0
Seller financed acquisition deposit	0
Seller financing of investment in unconsolidated entities	0
Mortgage and mezzanine debt assumed on real estate investments	0
Mandatorily redeemable preferred securities issued in acquisition of property and equipment	0
Contingent consideration on acquisition	0
Deferred consideration on acquisition	0
Dividends declared but not paid	0
Common stock issued through distribution reinvestment plan	$ 0

Organization

Organization	12 Months Ended
	Dec. 31, 2016
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization	Organization Hospitality Investors Trust, Inc. (the "Company") was incorporated on July 25, 2013 as a Maryland corporation and qualified as a REIT beginning with the taxable year ended 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. As of December 31, 2016 , the Company had acquired or had an interest in a total of 141 hotels with a total of 17,193 guestrooms located in 32 states. As of December 31, 2016 , all but one of these hotels operated under a franchise or license agreement with a national brand owned by one of Hilton Worldwide, Inc., Marriott International, Inc., Hyatt Hotels Corporation, Intercontinental Hotels Group and Red Lion Hotels Corporation or one of their respective subsidiaries or affiliates. On January 7, 2014 , the Company commenced its primary initial public offering (the "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 well as 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 could elect to have their cash distributions reinvested in additional shares of the Company's common stock. On November 15, 2015 , the Company suspended its IPO, and, on November 18, 2015 , Realty Capital Securities, LLC (the "Former Dealer Manager"), the dealer manager of the IPO, suspended sales activities, effective immediately. On December 31, 2015 , the Company terminated the Former Dealer Manager as the dealer manager of our IPO. On March 28, 2016 , the Company announced that, because it required funds in addition to operating cash flow and cash on hand to meet its capital requirements, beginning with distributions payable with respect to April 2016 the Company would pay distributions to its stockholders in shares of common stock instead of cash. On July 1, 2016 , the Company's board of directors approved an estimated net asset value per share of common stock (“Estimated Per-Share NAV”) equal to $21.48 based on an estimated fair value of the Company's assets less the estimated fair value of our liabilities, divided by 36,636,016 shares of common stock outstanding on a fully diluted basis as of March 31, 2016 , which was published on the same date. This was the first time that the Company's board of directors determined an Estimated Per- Share NAV.. It is currently anticipated that the Company will publish an updated Estimated Per-Share NAV on at least an annual basis. On January 7, 2017 , the third anniversary of the commencement of the IPO, it terminated in accordance with its terms. On January 12, 2017 , the Company along with its operating partnership, Hospitality Investors Trust Operating Partnership, L.P. (then known as American Realty Capital Hospitality Operating Partnership, L.P. the “OP”), entered into (i) a Securities Purchase, Voting and Standstill Agreement (the “SPA”) with Brookfield Strategic Real Estate Partners II Hospitality REIT II LLC (the “Brookfield Investor”), as well as related guarantee agreements with certain affiliates of the Brookfield Investor, and (ii) a Framework Agreement (the “Framework Agreement”) with the Company’s advisor, American Realty Capital Hospitality Advisors, LLC (the “Advisor”), the Company’s property managers, American Realty Capital Hospitality Properties, LLC and American Realty Capital Hospitality Grace Portfolio, LLC (together, the “Property Manager”), Crestline Hotels & Resorts, LLC (“Crestline”), an affiliate of the Advisor and the Property Manager, American Realty Capital Hospitality Special Limited Partnership, LLC (the “Special Limited Partner”), another affiliate of the Advisor and the Property Manager, and, for certain limited purposes, the Brookfield Investor. In connection with the Company’s entry into the SPA, the Company suspended paying distributions to stockholders entirely and suspended the DRIP. Currently, under the Brookfield Approval Rights (as defined below), prior approval is required before the Company can declare or pay any distributions or dividends to its common stockholders, except for cash distributions equal to or less than $0.525 per annum per share. On March 31, 2017 , the initial closing under the SPA (the “Initial Closing”) occurred and various transactions and agreements contemplated by the SPA were consummated and executed, including but not limited to: • the sale by the Company and purchase by the Brookfield Investor of one share of a new series of preferred stock designated as the Redeemable Preferred Share, par value $0.01 per share (the “Redeemable Preferred Share”), for a nominal purchase price; and • the sale by the Company and purchase by the Brookfield Investor of 9,152,542.37 Class C Units, for a purchase price of $14.75 per Class C Unit, or $135.0 million in the aggregate. Subject to the terms and conditions of the SPA, the Company also has the right to sell, and the Brookfield Investor has agreed to purchase, additional Class C Units in an aggregate amount of up to $265.0 million at subsequent closings (each, a "Subsequent Closing") that may occur through February 2019. The Subsequent Closings are subject to conditions, and there can be no assurance they will be completed on their current terms, or at all. Substantially all of the Company’s business is conducted through the OP. Prior to the Initial Closing, the Company was the sole general partner and held substantially all of the units of limited partner interest in the OP entitled “OP Units” ("OP Units"). Following the Initial Closing, the Brookfield Investor holds all the issued and outstanding Class C Units, representing $135.0 million in liquidation preference with respect to the OP that ranks senior in payment of distributions and in the distribution of assets to the OP Units held by us that correspond to shares of our common stock, BSREP II Hospitality II Special GP, OP LLC (the “Special General Partner”), is the special general partner of the OP, with certain non-economic rights that apply if the OP is unable to redeem the Class C Units when required to do so, as described below. Class C Units are convertible into OP Units based on an initial conversion price of $14.75 , subject to anti-dilution and other adjustments upon the occurrence of certain events and transactions. OP Units, in turn, are generally redeemable for shares of our common stock on a one-for-one-basis or the cash value of a corresponding number of shares, at the Company’s election, in accordance with the terms of the limited partnership agreement of the OP. Holders of Class C Units are also entitled to receive, with respect to each Class C Unit, a fixed, quarterly, cumulative cash distributions at a rate of 7.50% per annum from legally available funds. If the Company fails to pay these cash distributions when due, the per annum rate will increase to 10% until all accrued and unpaid distributions required to be paid in cash are reduced to zero . Holders of Class C Units are also entitled to receive, with respect to each Class C Unit, a fixed, quarterly, cumulative distribution payable in Class C Units at a rate of 5% per annum ("PIK Distributions"). Upon our failure to redeem the Brookfield Investor when required to do so pursuant to the limited partnership agreement of the OP, the 5% per annum PIK Distribution rate will increase to a per annum rate of 7.50% and would further increase by 1.25% per annum for the next four quarterly periods thereafter, up to a maximum per annum rate of 12.50% Without obtaining the prior approval of the majority of the then outstanding Class C Units, the OP is restricted from taking certain actions including equity issuances, debt incurrences, payment of dividends or other distributions, redemptions or repurchases of securities, property acquisitions and property sales and dispositions. In addition, pursuant to the terms of the Redeemable Preferred Share, in addition to other governance and board rights, the Brookfield Investor has elected and has a continuing right to elect two directors (each, a “Redeemable Preferred Director”) to the Company’s board of directors and the Company is similarly restricted from taking those actions without the prior approval of at least one of the Redeemable Preferred Directors. Prior approval of at least one of the Redeemable Preferred Directors is also required to approve the annual business plan (including the annual operating and capital budget) required under the terms of the Redeemable Preferred Share (the "Annual Business Plan"), hiring and compensation decisions related to certain key personnel (including our executive officers) and various matters related to the structure and composition of the Company’s board of directors. These restrictions (collectively referred to herein as the “Brookfield Approval Rights”) are subject to certain exceptions and conditions, including that, after March 31, 2022 , no prior approval will be required for equity issuances, debt incurrences and property sales if the proceeds therefrom are used to redeem the then outstanding Class C Units in full. Subject to certain limitations, the Brookfield Approval Rights are subject to temporary and permanent suspension in connection with any failure by the Brookfield Investor to purchase Class C Units at any Subsequent Closing as required pursuant to the SPA. In addition, the Brookfield Approval Rights will no longer apply if the liquidation preference applicable to all Class C Units held by the Brookfield Investor and its affiliates is reduced to $100.0 million or less due to the exercise by holders of Class C Units of their redemption rights under the limited partnership agreement of the OP. Prior to March 31, 2022 , if the OP consummates a liquidation, sells of all or substantially all of its assets, dissolves or winds-up, whether voluntary or involuntary, sells, merges, reorganizes, reclassifies or recapitalizes or other similar event (a “Fundamental Sale Transaction”), it is required to redeem the Class C Units for cash at a premium based on how long the Class C Units have been outstanding. Following March 31, 2022 , the holders of Class Units may require the OP to redeem any or all Class C Units for an amount in cash equal to the liquidation preference. The OP will also be required, at the option of the holders thereof, to redeem Class C Units, for the same premium applicable in a Fundamental Sale Transaction, upon the occurrence of certain events related to its failure to qualify as a REIT, the occurrence of a material breach by the OP of certain provisions of the limited partnership agreement of the OP or, for an amount equal to the liquidation preference, the rendering of a judgment enjoining or otherwise preventing the exercise of certain rights under the limited partnership agreement of the OP. If the OP is unable to redeem any Class C Units when required to do so, the Brookfield Investor will be able to elect a majority of our board of directors and may cause the OP, through the exercise of the rights of the Special General Partner, to commence selling its assets until the Class C Units have been fully redeemed. At any time and from time to time on or after March 31, 2022 , the OP has the right to elect to redeem all or any part of the issued and outstanding Class C Units for an amount in cash equal to the liquidation preference. In addition, if the Company lists its common stock on a national securities exchange prior to that date, it will have certain rights to redeem all but $0.10 of the liquidation preference of each issued and outstanding Class C Units for cash subject to payment of a make whole premium and certain rights of their Class C Unit holders to convert their retained liquidation preference into OP Units prior to March 31, 2024 . See Note 17 - Subsequent Events for additional information regarding the terms of the SPA and the transactions and agreements contemplated thereby that were consummated and executed at the Initial Closing, including the rights, privileges and preferences of the Class C Units. Also at the Initial Closing, as contemplated by the SPA and the Framework Agreement, the Company changed its name from American Realty Capital Hospitality Trust, Inc. to Hospitality Investors Trust, Inc. and the name of the OP from American Realty Capital Hospitality Operating Partnership, L.P. to Hospitality Investors Trust Operating Partnership, L.P. and completed various other actions required to effect the Company’s transition from external management to self-management. Prior to the Initial Closing, the Company had no employees, and the Company depended on the Advisor to manage certain aspects of its affairs on a day-to-day basis pursuant to the advisory agreement with the Advisor (the "Advisory Agreement"). In addition, the Property Manager served as the Company's property manager and had retained Crestline to provide services, including locating investments, negotiating financing and operating certain hotel assets in the Company's portfolio. The Advisor, the Property Manager and Crestline are under common control with AR Capital, LLC (“AR Capital”), the parent of the Company’s sponsor, and AR Global Investments, LLC ("AR Global"), the successor to certain of AR Capital's businesses. At the Initial Closing, the Advisory Agreement was terminated and certain employees of the Advisor or its affiliates (including Crestline) who had been involved in the management of the Company’s day-to-day operations, including all of its executive officers, became employees of the Company. The Company also terminated all of its other agreements with affiliates of the Advisor except for its hotel-level property management agreements with Crestline and entered into a transition services agreement with each of the Advisor and Crestline, pursuant to which the Company will receive their assistance in connection with investor relations/shareholder services and support services for pending transactions in the case of the Advisor and accounting and tax related services in the case of Crestline until June 29, 2017 . The transition services agreement with Crestline for accounting and tax related services will automatically renew for successive 90 -day periods unless either party elects to terminate. The transition services agreement with the Advisor may be extended with respect to the support services for pending transactions for an additional 30 days by written notice delivered prior to the expiration date. Prior to the Initial Closing, the Company, directly or indirectly through its taxable REIT subsidiaries had entered into agreements with the Property Manager, which, in turn, had engaged Crestline or a third-party sub-property manager to manage the Company’s hotel properties. These agreements were intended to be coterminous, meaning that the term of the agreement with the Company’s Property Manager was the same as the term of the Property Manager’s agreement with the applicable sub-property manager for the applicable hotel properties, with certain exceptions. Following the Initial Closing, the Company no longer has any agreements with the Property Manager and instead contracts directly or indirectly, through its taxable REIT subsidiaries, with Crestline and the third-party property management companies that previously served as sub-property managers to manage the Company’s hotel properties. Crestline is a leading hospitality management company in the United States, and as of December 31, 2016 , had 105 hotels and 15,552 rooms under management in 28 states and the District of Columbia. As of December 31, 2016 , 71 of the Company's hotels and 9,436 rooms were managed by Crestline, and 70 of the Company's hotels and 7,757 rooms were managed by third-party sub-property managers. As of December 31, 2016, the Company had approximately 38.5 million shares of common stock outstanding and had received total proceeds of approximately $913.0 million from the IPO and shares issued under the DRIP, net of repurchases. The shares outstanding include shares of common stock issued as stock distributions as a result of the change in distribution policy adopted by the Company’s board of directors in March 2016 . Shares are only issued pursuant to the DRIP in connection with distributions paid in cash. In connection with the Company’s entry into the SPA, the Company’s board of directors suspended the payment of distributions to its stockholders in shares of common stock and suspended the DRIP. The Company will not issue any additional shares of common stock under the DRIP or recommence paying distributions in cash or in shares of its common stock unless and until its board of directors lifts these suspensions and subject to the Brookfield Approval Rights. See Note 17 - Subsequent Events for information regarding changes to the Company's relationship with AR Capital, AR Global, the Advisor, the Property Manager and their affiliates, and our transition to self-management.

Summary of Significant Accounti

Summary of Significant Accounting Policies	12 Months Ended
	Dec. 31, 2016
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	Summary of Significant Accounting Policies The accompanying consolidated/combined financial statements of the Company included herein were prepared in accordance with United States Generally Accepted Accounting Principles ("GAAP"). Certain immaterial amounts in prior periods have been reclassified in order to conform to current period presentation. Principles of Consolidation and Basis of Presentation The accompanying 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 percentage 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 consists of the Barceló Portfolio, which consists of hospitality assets and operations owned by Barceló Crestline Corporation and certain consolidated subsidiaries ("BCC") that had been maintained in various legal entities until the Company acquired them from BCC on March 21, 2014 . Historically, financial statements had not been prepared for the Predecessor as a discrete stand-alone entity. The accompanying consolidated financial statements for the Predecessor, for the period from January 1 to March 20, 2014 have been derived from the historical accounting records of BCC and reflect revenue and expenses and cash flows 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 The preparation of the accompanying 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 purchase price allocations to record investments in real estate, the useful lives of 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 furniture, fixtures and equipment. 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 furniture, fixtures and equipment are based on purchase price allocation 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. 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 under GAAP 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 long-lived 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 furniture, fixtures and equipment, 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. 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 leases acquired (See Note 4 - Leases). 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 Consolidated/Combined Statements of Operations and Comprehensive Income (Loss). 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. An impairment loss results in an immediate negative adjustment reflected in net income. An impairment loss of $2.4 million was recorded on one hotel during the year ended December 31, 2016 (See Note 14 - Impairments). The Company has not recorded an impairment in any other periods. Assets Held for Sale (Long Lived-Assets) When the Company initiates the sale of long-lived assets, it assesses whether the assets meet the criteria to be considered assets held for sale. The review is based on whether the following criteria are met: • Management has committed to a plan to sell the asset group; • The subject assets are available for immediate sale in their present condition; • The Company is actively locating buyers as well as other initiatives required to complete the sale; • The sale is probable and the transfer is expected to qualify for recognition as a complete sale in one year; • The long-lived asset is being actively marketed for sale at a price that is reasonable in relation to fair value; and • Actions necessary to complete the plan indicate it is unlikely significant changes will be made to the plan or the plan will be withdrawn. If all the criteria are met, a long-lived asset held for sale is measured at the lower of its carrying amount or fair value less cost to sell, and the Company will cease recording depreciation. Cash and Cash Equivalents Cash and cash equivalents include 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 cash flow deposits while subject 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, changes related to future debt service payments are treated as financing activities, and changes related to 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 in full 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. In April 2015, the Financial Accounting Standards Board (“FASB”) issued ASU 2015-03 Simplifying the Presentation of Debt Issuance Costs (“ASU 2015-03”), which was designed to simplify the presentation of debt issuance costs. The amendments in ASU 2015-03 require that debt issuance costs related to a recognized debt liability be presented in the balance sheet as a direct deduction from the carrying amount of that debt liability, consistent with debt discounts. Prior to application of this new guidance, the Company presented debt issuance costs as an asset on the Consolidated Balance Sheets. The recognition and measurement guidance for debt issuance costs were not affected by the amendments in ASU 2015-03. The Company adopted this ASU as of January 1, 2016 , on a retrospective basis. The impact to the Consolidated Balance Sheets as of December 31, 2015 , was to reduce total assets by approximately $18.8 million , of which $16.0 million was mortgage notes payable, and $2.8 million was the Grace Preferred Equity Interests, the Company's mandatorily redeemable preferred securities. Variable Interest Entities Accounting Standards Codification ("ASC") 810 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. 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. In February 2015, the FASB issued Accounting Standards Update 2015-02 (“ASU 2015-02”), which amended ASC 810. The amendment modifies the evaluation of whether certain legal entities are VIEs, eliminates the presumption that a general partner should consolidate a limited partnership, and affects the consolidation analysis of reporting entities that are involved with VIEs. The revised guidance was effective for fiscal years, and for interim periods within those fiscal years, beginning after December 15, 2015. The Company adopted this guidance effective January 1, 2016 . The Company has evaluated the impact of the adoption of the new guidance on its consolidated/combined financial statements and has determined the OP is considered a VIE. However, the Company meets the disclosure exemption criteria as the Company is the primary beneficiary of the VIE and the Company’s partnership interest in the OP representing the OP Units held by the Company corresponding to shares of the Company's common stock is considered a majority voting interest. As such, the new guidance did not have an impact on the Company’s consolidated/combined financial statements. The Company also has variable interests in VIEs through its investments in BSE/AH Blacksburg Hotel, LLC (the "HGI Blacksburg JV"), an entity that owns the assets of the Hilton Garden Inn Blacksburg, and an interest in TCA Block 7 Hotel, LLC (the "Westin Virginia Beach JV"), an entity that owns the assets of the Westin Virginia Beach Town Center (the "Westin Virginia Beach"). During the quarter ended June 30, 2015 , upon the acquisition of an additional equity interest in the HGI Blacksburg JV, the Company concluded that it was the primary beneficiary, with the power to direct activities that most significantly impact its economic performance, and therefore consolidated the entity in its consolidated/combined financial statements subsequent to the acquisition (See Note 3 - Business Combinations). The Company has concluded it is not the primary beneficiary with the power to direct activities that most significantly impact economic performance of the Westin Virginia Beach JV, and has therefore not consolidated the entity. The Company has accounted for the entity under the equity method of accounting and included it in investments in unconsolidated entities in the accompanying Consolidated Balance Sheets. The Company classifies the distributions from its investments in unconsolidated entities in the Consolidated Statement of Cash Flows based upon an evaluation of the specific facts and circumstances of each distribution. For example, distributions of cash generated by property operations are classified as cash flows from operating activities. However, distributions received as a result of property sales are classified as cash flows from investing activities. Revenue Recognition The Company recognizes hotel revenue as earned, which is generally defined as the date upon which a guest occupies a room or utilizes the hotel services. Income Taxes The Company qualified to be taxed as a REIT under Sections 856 through 860 of the Internal Revenue Code of 1986, as amended (the "Code") commencing with its tax year ended December 31, 2014 . In order to continue to qualify as a REIT, the Company must annually distribute to its stockholders 90% of its REIT taxable income (which does not equal net income as calculated in accordance with GAAP), determined without regard to the deduction for dividends paid and excluding net capital gain, and must comply with various other organizational and operational requirements. The Company generally will not be subject to federal corporate income tax on that portion of its REIT taxable income that it distributes to its stockholders. The Company 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 taxable REIT subsidiaries, which are owned by the OP. The taxable REIT subsidiaries are subject to federal, state and local income taxes. Deferred tax assets and liabilities are recognized for the estimated future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases, and for net operating loss, capital loss, and tax credit carryovers. Deferred tax assets and liabilities are measured using enacted tax rates in effect for the year in which such amounts are expected to be realized or settled. The effect on deferred tax assets and liabilities from a change in tax rates is recognized in earnings in the period when the new rate is enacted. However, deferred tax assets are recognized only to the extent that it is more likely than not that they will be realized based on consideration of available evidence, including future reversals of existing taxable temporary differences, future projected taxable income and tax planning strategies. GAAP prescribes a recognition threshold and measurement attribute for the financial statement recognition and measurement of a tax position taken in a tax return. The Company must determine whether it is "more-likely-than-not" that a tax position will be sustained upon examination, including resolution of any related appeals or litigation processes, based on the technical merits of the position. Once it is determined that a position meets the more-likely-than-not recognition threshold, the position is measured at the largest amount of benefit that is greater than 50% likely of being realized upon settlement in order to determine the amount of benefit to recognize in the financial statements. This accounting standard applies to all tax positions related to income taxes. Earnings/Loss per Share The Company calculates basic income or loss 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 stock awards, except when doing so would be anti-dilutive. Beginning with distributions payable with respect to April 2016 and through the period from January 1, 2017 to January 13, 2017 , the date these distributions were suspended, the Company has paid cumulative distributions of 2,047,877 shares of common stock and adjusted, retroactively for all periods presented, its computation of loss per share in order to reflect this change in capital structure (See Note 8 - Common Stock). Fair Value Measurements In accordance with ASC 820, Fair Value Measurement , 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. Advertising Costs The Company expenses advertising costs for hotel operations as incurred. These costs were $17.2 million for the year ended December 31, 2016 , $12.2 million for the year ended December 31, 2015 , and $0.4 million combined for the Company and the Predecessor for the year ended December 31, 2014 . 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 Consolidated Balance Sheets, and are as follows (in thousands): December 31, 2016 December 31, 2015 Trade receivables $ 6,238 $ 5,848 Allowance for doubtful accounts (434 ) (697 ) Trade receivables, net of allowance $ 5,804 $ 5,151 Derivative Transactions The Company at certain times enters into derivative instruments to hedge exposure to changes in interest rates. The Company’s derivatives as of December 31, 2016 , consist of interest rate cap agreements which it believes will help to mitigate its exposure to increasing borrowing costs under floating rate indebtedness. The Company has elected not to designate its interest rate cap agreements as cash flow hedges. The impact of the interest rate caps for the year ended December 31, 2016 , was immaterial to the consolidated/combined financial statements. 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 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 May 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 to 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 standard permits the use of either the retrospective or cumulative effect transition method. In April 2015, the FASB proposed an accounting standards update for ASU 2014-09 for the deferral of the effective date of ASU 2014-09. This proposal defers the effective date of ASU 2014-09 from annual reporting periods beginning after December 15, 2016, back one year, to annual reporting periods beginning after December 15, 2017 for all public business entities, certain not-for-profit entities, and certain employee benefit plans. Early application of ASU 2014-09 is permitted as of annual reporting periods beginning after December 15, 2016, including interim reporting periods within that reporting period. In April and May 2016, two amendments ("ASU 2016-10" and "ASU 2016-12") were made in which guidance related to accounting for revenue from contracts with customers was clarified further. ASU 2016-10 provides clarity around identifying performance obligations and licensing implementation guidance. ASU 2016-12 addresses topics such as collectability criterion, presentation of sales tax, non-cash consideration, completed contracts at transition and technical corrections. There have been no adjustments to the effective date of ASU 2014-09. The Company is evaluating the effect that ASU 2014-09, ASU 2016-10 and ASU 2016-12 will have on its consolidated/combined financial statements and related disclosures. The Company has not yet selected a transition method and has not determined the effect of the standard on its ongoing financial reporting. The adoption of this ASU is not expected to have a material effect on the Company's consolidated/combined financial statements. In August 2014, the FASB issued ASU 2014-15 Disclosure of Uncertainties about an Entity’s Ability to Continue as a Going Concern (“ASU 2014-15”), which describes how an entity should assess its ability to meet obligations and sets rules for how this information should be disclosed in the financial statements. The standard provides accounting guidance that will be used along with existing auditing standards. The adoption of ASU 2014-15 becomes effective for the Company on its fiscal year ending December 31, 2016, and all subsequent annual periods. Early adoption is permitted. The adoption of ASU 2014-15 did not have a material effect on the Company's consolidated/combined financial statements. In January, 2015, the FASB issued ASU 2015-01 Simplifying Income Statement Presentation by Eliminating the Concept of Extraordinary Items (“ASU 2015-01”), which eliminates from GAAP the concept of extraordinary items. Subtopic 225-20, Income Statement-Extraordinary and Unusual Items, required that an entity separately classify, present, and disclose extraordinary events and transactions. The adoption of ASU 2015-01 becomes effective for the Company on its fiscal year ending December 31, 2016, and all subsequent annual and interim periods. Early adoption is permitted. The adoption of ASU 2015-01 did not have a material effect on the Company’s consolidated/combined financial statements. In September 2015, the FASB issued ASU 2015-16 Business Combinations ("ASU 2015-16"), which require that an acquirer recognize adjustments to provisional amounts that are identified during the measurement period in the reporting period in which the adjustment amounts are determined. ASU 2015-16 also requires the acquirer to record in the same period's financial statements, the effect on earnings of changes in depreciation, amortization, or other income effects as a result of the change to the acquisition date. Finally, this ASU requires an entity to present separately on the face of the income statement or disclose in the notes the portion of the amount recorded in current-period earnings by line item that would have been recorded in previous reporting periods if the adjustment to the provisional amounts had been recognized as of the acquisition date. The new standard is effective for the Company on January 1, 2016, including interim periods within that fiscal year. Early application is permitted. The adoption of ASU 2015-16 did not have a material effect on the Company’s consolidated/combined financial statements. In February 2016, the FASB issued ASU 2016-02 Leases ("ASU 2016-02"), which requires an entity to separate lease components from nonlease components in a contract. ASU 2016-02 provides more guidance on how to identify and separate components than did previous GAAP. ASU 2016-02 requires lessees to recognize assets and liabilities arising from operating leases on the balance sheet. This amendment has not fundamentally changed lessor accounting, however some changes have been made to align and conform to the lessee guidance. The adoption of ASU 2016-02 becomes effective for the Company for the fiscal year beginning after December 15, 2018, and all subsequent annual and interim periods. Upon adoption, the Company will be required to recognize its operating leases, which are primarily comprised of one operating lease with respect to the Georgia Tech Hotel & Conference Center and nine ground leases, as liabilities on the Consolidated Balance Sheets. Early adoption is permitted. In March 2016, the FASB issued ASU 2016-07 Investments—Equity Method and Joint Ventures ("ASU 2016-07"), which requires that an equity method investor add the cost of acquiring the additional interest in the investee to the current basis of the investor's previously held interest and adopt the equity method of accounting as of the date the investment becomes qualified for equity method accounting. Therefore, upon qualifying for the equity method of accounting, no retroactive adjustment of the investment is required. The adoption of ASU 2016-07 becomes effective for the Company for the fiscal year beginning after December 15, 2016, and all subsequent annual and interim periods. Early adoption is permitted. The adoption of ASU 2016-07 is not expected to have a material effect on the Company’s consolidated/combined financial statements. In March 2016, the FASB issued ASU 2016-09 Compensation—Stock Compensation ("ASU 2016-09"), which requires that all excess tax benefits and all tax deficiencies should be recognized as income tax expense or benefits in the income statement. These benefits and deficiencies are discrete items in the reporting period in which they occur. An entity should not consider these benefits or deficiencies in determining the annual estimated tax rate. The adoption of ASU 2016-09 becomes effective for the Company for the fiscal year beginning after December 15, 2016, and all subsequent annual and interim periods. Early adoption is permitted. The adoption of ASU 2016-09 is not expected to have a material effect on the Company’s consolidated/combined financial statements. In August 2016, the FASB issued ASU 2016-15 Statement of Cash Flows—Classification of Certain Cash Receipts and Cash Payments ("ASU 2016-15"), which addresses the presentation and classification of certain cash flow receipts and payments. The adoption of ASU 2016-15 becomes effective for the Company for the fiscal year beginning after December 15, 2017, and all subsequent annual and interim periods. The adoption of ASU 2016-15 is not expected to have a material effect on the Company's consolidated/combined financial statements.

Business Combinations

Business Combinations	12 Months Ended
	Dec. 31, 2016
Business Combinations [Abstract]
Business Combinations	Business Combinations Barceló Portfolio : On March 21, 2014 , the Company completed an acquisition comprising investments in six hotels (the "Barceló Portfolio") through fee simple, leasehold and joint venture interests. The aggregate purchase price of the Barceló Portfolio was approximately $110.1 million , exclusive of closing costs. The Barceló Portfolio consists of (i) three wholly owned hotel 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 and (iii) equity interests in the HGI Blacksburg JV and the Westin Virginia Beach JV. Grace Acquisition : On February 27, 2015 , the Company acquired a portfolio of 116 hotels (the "Grace Portfolio") through fee simple or leasehold interests from certain subsidiaries of Whitehall Real Estate Funds, an investment arm controlled by The Goldman Sachs Group, Inc. The aggregate purchase price under the purchase agreement was $1.808 billion , exclusive of closing costs and subject to certain adjustments at closing. After adjustments, the net purchase price was $1.800 billion . Approximately $221.7 million of the purchase price was satisfied with cash on hand, approximately $904.2 million (fair value on the acquisition date) through the assumption of existing mortgage and mezzanine indebtedness (comprising the "Assumed Grace Mortgage Loan" and the "Assumed Grace Mezzanine Loan", collectively, the "Assumed Grace Indebtedness") and approximately $227.0 million through additional mortgage financing (the "Original Additional Grace Mortgage Loan"). The Original Additional Grace Mortgage Loan was refinanced during October 2015 (the “Refinanced Additional Grace Mortgage Loan” and, together with the Assumed Grace Indebtedness, the "Grace Indebtedness") (See Note 5 - Mortgage Notes Payable). In addition, the remaining $447.1 million of the contract purchase price was satisfied by the issuance of the preferred equity interests (the "Grace Preferred Equity Interests") in two newly-formed Delaware limited liability companies, ARC Hospitality Portfolio I Holdco, LLC and ARC Hospitality Portfolio II Holdco, LLC, (the "Holdco entities") each of which is an indirect subsidiary of the Company and an indirect owner of the Grace Portfolio. The holders of the Grace Preferred Equity Interests were entitled to monthly distributions at a rate of 7.50% per annum for the first 18 months following closing, through August 2016, and 8.00% per annum thereafter. On liquidation of the Holdco entities, the holders of the Grace Preferred Equity Interests are entitled to receive their original value (as reduced by redemptions) prior to any distributions being made to the Company or the Company's stockholders. Beginning in April 2015 , the Company became obligated to use 35% of any IPO proceeds to redeem the Grace Preferred Equity Interests at par, up to a maximum of $350.0 million in redemptions for any 12 -month period. As of December 31, 2016 , the Company has redeemed $156.9 million of the Grace Preferred Equity Interests, resulting in $290.2 million of liquidation value remaining outstanding under the Grace Preferred Equity Interests. As of December 31, 2016 , the Company is required to redeem 50.0% of the Grace Preferred Equity Interests originally issued, or an additional $66.7 million by February 27, 2018 , and is required to redeem the remaining $223.5 million by February 27, 2019 . Following the redemption of $47.3 million of the Grace Preferred Equity Interests with a portion of the proceeds from the Initial Closing, resulting in $242.9 million of liquidation value remaining outstanding under the Grace Preferred Equity Interests, the Company is required to redeem an additional $19.4 million by February 27, 2018 and the remaining $223.5 million by February 27, 2019 . (See Note 17- Subsequent Events).Prior to the suspension of the IPO in November 2015, the Company depended, and expected to continue to depend, in substantial part on proceeds from the IPO to meet its major capital requirements. The IPO terminated in accordance with its terms in January 2017 . Because the Company required funds in addition to operating cash flow and cash on hand to meet its capital requirements, the Company undertook and evaluated a variety of transactions to generate additional liquidity to address its capital requirements, including changing the distribution policy, extending certain of the obligations under PIPs, extending obligations to pay contingent consideration, marketing and selling assets and seeking debt or equity financing transactions. In January 2017 , the Company entered into the SPA and the Framework Agreement, and the consummation of the transactions contemplated by these agreements in March 2017 has, and is expected to continue to, generate additional liquidity through the sale of Class C Units to the Brookfield Investor at the Initial Closing and at Subsequent Closings, as well as cost savings realized as part of the Company's transition to self-management through reduced property management fees and the elimination of external asset management fees to the Advisor (offset by expenses previously borne by the Advisor that will now be incurred directly by the Company as a self-managed Company). The Company believes these sources of additional liquidity will allow it to meet its existing capital requirements, although there can be no assurance the amounts actually generated will be sufficient for these purposes. The Subsequent Closings are subject to conditions, and may not be completed on their current terms, or at all. The Company is also required, in certain circumstances, to apply debt proceeds to redeem the Grace Preferred Equity Interests at par. In addition, the Company has the right, at its option, to redeem the Grace Preferred Equity Interests, in whole or in part, at any time at par. The holders of the Grace Preferred Equity Interests have certain consent rights over major actions by the Company relating to the Grace Portfolio. In connection with the issuance of the Grace Preferred Equity Interests, the Company and the OP have made certain guarantees and indemnities to the sellers and their affiliates or indemnifying the sellers and their affiliates related to the Grace Portfolio. If the Company is unable to satisfy the redemption, distribution or other requirements of the Grace Preferred Equity Interests (including if there is a default under the related guarantees provided by the Company and the OP), the holders of the Grace Preferred Equity Interests have certain rights, including the ability to assume control of the operations of the Grace Portfolio through the assumption of control of the Holdco entities. Due to the fact that the Grace Preferred Equity Interests are mandatorily redeemable and certain of their other characteristics, the Grace Preferred Equity Interests are treated as debt in accordance with GAAP. The following table presents the allocation of the assets acquired and liabilities assumed by the Company on February 27, 2015 (in thousands): Assets acquired and liabilities assumed February 27, 2015 Land $ 274,512 Buildings and improvements 1,391,695 Below-market lease obligation, net 2,605 Furniture, fixtures and equipment 127,954 Prepaid expenses and other assets 8,247 Accounts payable and accrued expenses (5,002 ) Total operating assets acquired, net 1,800,011 Seller financing of real estate investments (1,351,282 ) Total assets acquired, net $ 448,729 HGI Blacksburg JV: On May 20, 2015 , the Company acquired an additional equity interest in the HGI Blacksburg JV, increasing its percentage ownership to 56.5% from 24.0% . As a result of this transaction, the Company concluded that it is the primary beneficiary, with the power to direct activities that most significantly impact economic performance of the HGI Blacksburg JV, and therefore consolidated the entity in its consolidated/combined financial statements subsequent to the acquisition. The purchase price of the additional equity interest was approximately $2.2 million, exclusive of closing costs. The joint venture asset holds one hotel, the Hilton Garden Inn Blacksburg. Summit Acquisition On June 2, 2015 , the Company entered into agreements with affiliates of Summit Hotel Properties, Inc. (the "Summit Sellers"), as amended from time to time thereafter, to purchase fee simple interests in a portfolio of 26 hotels in three separate closings for a total purchase price of approximately $347.4 million , subject to closing prorations and other adjustments. On October 15, 2015 , the Company completed the acquisition of ten hotels (the "First Summit Closing") for $150.1 million , which was funded with $7.6 million previously paid as an earnest money deposit, $45.6 million from the Company’s ongoing initial public offering and $96.9 million from an advance, secured by a mortgage on the hotels in the First Summit Closing, under the SN Term Loan (See Note 5 - Mortgage Notes Payable). The following table presents the allocation of the assets acquired and liabilities assumed by the Company on October 15, 2015 (in thousands): Assets acquired and liabilities assumed October 15, 2015 Land $ 16,949 Buildings and improvements 120,414 Furniture, fixtures and equipment 12,706 Accounts payable and accrued expenses (1,042 ) Total operating assets acquired, net 149,027 SN Term Loan (96,850 ) Total assets acquired, net $ 52,177 On December 29, 2015 , the Company and the Summit Sellers agreed to terminate the purchase agreement pursuant to which the Company had the right to acquire a fee simple interest in ten hotels (the "Second Summit Closing") for a total purchase price of $89.1 million . As a result of this termination, the Company forfeited $9.1 million in non-refundable earnest money deposits. On February 11, 2016 , the Company completed the acquisition of six hotels (the "Third Summit Closing") from the Summit Sellers for an aggregate purchase price of $108.3 million which together with certain closing costs, was funded with $18.5 million previously paid as an earnest money deposit, $20.0 million in proceeds from a loan from the Summit Sellers (the "Summit Loan") described in Note 6 - Promissory Note Payable, and $70.4 million from an advance, secured by a mortgage on the hotels in the Third Summit Closing, under the SN Term Loan. The acquisition was immaterial to the consolidated/combined financial statements. Also on February 11, 2016 , the Company entered into an agreement with the Summit Sellers to reinstate, with certain changes, the purchase agreement (the "Reinstatement Agreement") related to the hotels in the Second Summit Closing, pursuant to which the Company had been scheduled to acquire from the Summit Sellers ten hotels for an aggregate purchase price of $89.1 million . Pursuant to the Reinstatement Agreement, the Second Summit Closing was re-scheduled to occur on December 30, 2016 and $7.5 million (the “New Deposit”) borrowed by the Company from the Summit Sellers was used as a new earnest money deposit. Under the Reinstatement Agreement, the Summit Sellers have the right to market and ultimately sell any or all of the hotels in the Second Summit Closing to a bona fide third party purchaser without the consent of the Company at any time prior to the Company completing its acquisition of the Second Summit Closing. If any hotel is sold in this manner, the Reinstatement Agreement will terminate with respect to such hotel and the purchase price will be reduced by the amount allocated to such hotel. If all (but not less than all) of the hotels in the Second Summit Closing are sold in this manner, or if the Reinstatement Agreement is terminated with respect to all (but not less than all) of the hotels in the Second Summit Closing under certain other circumstances (including if there are title issues or material casualties or condemnations involving a particular hotel), then the New Deposit will be automatically applied towards any then outstanding principal balance of the Summit Loan, and any remaining balance of the New Deposit will be remitted to the Company. In June 2016, the Summit Sellers informed the Company that two of the ten hotels had been sold, thereby reducing the Second Summit Closing to eight hotels for an aggregate purchase price of $77.2 million . On January 12, 2017 , the Company, through a wholly owned subsidiary of the OP, entered into an amendment (the “Summit Amendment”) to the Reinstatement Agreement. Under the Summit Amendment, the closing date for the purchase of seven of the hotels remaining to be purchased under the Reinstatement Agreement for an aggregate purchase price of $66.8 million was extended from January 12, 2017 to April 27, 2017 , following an amendment entered into on December 30, 2016 to extend the closing date from December 30, 2016 to January 10, 2017 , and an amendment entered into on January 10, 2017 to extend the closing date from January 10, 2017 to January 12, 2017 . The closing date for the purchase of an eighth hotel to be purchased under the Reinstatement Agreement for an aggregate purchase price of $10.5 million was extended from January 12, 2017 to October 24, 2017 . The Summit Sellers have informed the Company that this eighth hotel is subject to a pending purchase and sale agreement with a third party, and, if this sale is completed, the Company’s right and obligation to purchase this hotel will terminate in accordance with the terms of the Reinstatement Agreement. Concurrent with the Company’s entry into the Summit Amendment, the Company entered into an amendment to the Summit Loan (the “Loan Amendment”) and Summit agreed to loan the Company an additional $3.0 million (the "Additional Loan Agreement") as consideration for the Summit Amendment. For additional discussion see Note 6 - Promissory Notes Payable and Note 17 - Subsequent Events. Noble Acquisitions: On June 15, 2015 , the Company entered into agreements with affiliates of Noble Investment Group, LLC (the "Noble Sellers"), as amended from time to time thereafter, to purchase fee simple interests in a portfolio of 13 hotels in four separate closing for a total purchase price of $300.0 million . On November 2, 2015 , the Company completed the acquisition of two hotels (the "First Noble Closing") from the Noble Sellers for $48.6 million , which was funded with $3.6 million previously paid as an earnest money deposit, $19.0 million from the IPO and $26.0 million from an advance, secured by a mortgage on the hotels in the First Noble Closing, under the SN Term Loan (See Note 5 - Mortgage Notes Payable). On December 2, 2015 , the Company completed the acquisition of two hotels (the “Second Noble Closing”) from the Noble Sellers for an aggregate purchase price of $59.0 million , which was funded with $4.4 million previously paid as an earnest money deposit, $12.3 million in proceeds from the IPO and $42.3 million from an advance, secured by a mortgage on the hotels in the Second Noble Closing, under the SN Term Loan. On January 25, 2016 , the hotel purchase agreements related to third and fourth closing of the Noble acquisition comprising nine hotels in total were terminated, as a result of which the Company forfeited $22.0 million in non-refundable earnest money deposits.

Leases

Leases	12 Months Ended
	Dec. 31, 2016
Leases [Abstract]
Leases	Leases In connection with its acquisitions the Company has assumed various lease agreements. These lease agreements primarily comprise one operating lease with respect to the Georgia Tech Hotel & Conference Center and nine ground leases which are also classified as operating leases. The following table summarizes the Company's future minimum rental commitments under these leases (in thousands): Minimum Rental Commitments Amortization of Below Market Lease Intangible to Rent Expense Year ended December 31, 2017 $ 5,210 $ 398 Year ended December 31, 2018 5,217 398 Year ended December 31, 2019 5,227 398 Year ended December 31, 2020 5,265 398 Year ended December 31, 2021 5,271 398 Thereafter 81,743 7,836 Total $ 107,933 $ 9,826 The Company has allocated values to certain above and below-market lease intangibles based on the difference between market rents and rental commitments under the leases. During the years ended December 31, 2016 , December 31, 2015 and December 31, 2014 , amortization of below-market lease intangibles, net, to rent expense was $ 0.4 million , $0.4 million and $0.3 million , respectively. Rent expense for the years ended December 31, 2016 , December 31, 2015 and December 31, 2014 was $6.3 million , $5.8 million and $4.8 million , respectively. Included in the year ended December 31, 2014 is rent expense recognized by the Predecessor. The Company recognizes rent expense on a straight line basis.

Mortgage Notes Payable

Mortgage Notes Payable	12 Months Ended
	Dec. 31, 2016
Debt Disclosure [Abstract]
Mortgage Notes Payable	Mortgage Notes Payable The Company’s mortgage notes payable as of December 31, 2016 and December 31, 2015 consist of the following, respectively (in thousands): Outstanding Mortgage Notes Payable Encumbered Properties December 31, 2016 December 31, 2015 Interest Rate Payment Maturity Baltimore Courtyard & Providence Courtyard $ 45,500 $ 45,500 4.30% Interest Only, Principal paid at Maturity April 2019 Hilton Garden Inn Blacksburg Joint Venture 10,500 10,500 4.31% Interest Only, Principal paid at Maturity June 2020 Assumed Grace Mortgage Loan - 95 properties in Grace Portfolio 793,647 801,430 LIBOR plus 3.31% Interest Only, Principal paid at Maturity May 2017, subject to two, one year extension rights Assumed Grace Mezzanine Loan - 95 properties in Grace Portfolio 101,794 102,550 LIBOR plus 4.77% Interest Only, Principal paid at Maturity May 2017, subject to two, one year extension rights Refinanced Additional Grace Mortgage Loan - 20 properties in Grace Portfolio and one additional property 232,000 232,000 4.96% Interest Only, Principal paid at Maturity October 2020 SN Term Loan -20 properties in Summit and Noble Portfolios (1) 235,484 165,100 LIBOR plus between 3.25% and 3.75% Interest Only, Principal paid at Maturity August 2018, subject to two, one year extension rights Total Mortgage Notes Payable $ 1,418,925 $ 1,357,080 Less: Deferred Financing Fees $ 8,000 $ 16,047 Total Mortgage Notes Payable, Net $ 1,410,925 $ 1,341,033 (1) On January 12, 2017, the Company amended this loan and entered into a related additional loan with Summit. See Note17 - Subsequent Events. Interest expense related to the Company's mortgage notes payable for the year ended December 31, 2016 , for the year ended December 31, 2015 , and for the combined year ended December 31, 2014 was $ 60.1 million , $43.1 million , and $2.1 million , respectively. Baltimore Courtyard and Providence Courtyard The Baltimore Courtyard and Providence Courtyard Loan matures on April 6, 2019 . On May 6, 2014 and each month thereafter, the Company is required to make an interest only payment based on the outstanding principal and a fixed annual interest rate of 4.30% . The entire principal amount is due at maturity. Hilton Garden Inn Blacksburg Joint Venture The Hilton Garden Inn Blacksburg Joint Venture Loan matures June 6, 2020 . On July 6, 2015 and each month thereafter, the Company is required to make an interest only payment based on the outstanding principal and a fixed annual interest rate of 4.31% . The entire principal amount is due at maturity. Assumed Grace Indebtedness The Assumed Grace Mortgage Loan and the Assumed Grace Mezzanine Loan mature on May 1, 2017 , subject to two (one-year) extension rights which, if both are exercised, would result in an outside maturity date of May 1, 2019 . The extensions on the Assumed Grace Mortgage Loan and the Assumed Grace Mezzanine Loan can only occur if certain conditions are met, including a condition that a minimum ratio of net operating income to debt outstanding be satisfied (the "minimum debt yield test"). The Company has satisfied the minimum debt yield test and expects to satisfy the other conditions for extension of the Assumed Grace Indebtedness until May 1, 2018 . There can be no assurance that the Company will be able to meet the conditions to extend these loans pursuant to their respective terms for the final extension period. The Assumed Grace Mortgage Loan carries an interest rate of London Interbank Offered Rate ("LIBOR") plus 3.31% , and the Assumed Grace Mezzanine Loan carries an interest rate of LIBOR plus 4.77% , for a combined weighted average interest rate of LIBOR plus 3.47% . Pursuant to the Assumed Grace Indebtedness, the Company has agreed to make periodic payments into an escrow account for the property improvement plans required by the franchisors. The Assumed Grace Indebtedness includes the following financial covenants: minimum consolidated net worth, and minimum consolidated liquidity. As of December 31, 2016 , the Company was in compliance with these financial covenants. Refinanced Additional Grace Mortgage Loan The Refinanced Additional Grace Mortgage Loan carries a fixed annual interest rate of 4.96% per annum with a maturity date on October 6, 2020 . Pursuant to the Refinanced Additional Grace Mortgage Loan, the Company agreed to make periodic payments into an escrow account for the property improvement plans required by the franchisors. The Refinanced Additional Grace Mortgage Loan includes the following financial covenants: minimum consolidated net worth, and minimum consolidated liquidity. As of December 31, 2016 , the Company was in compliance with these financial covenants. SN Term Loan On August 21, 2015 , the Company entered into a Term Loan Agreement with Deutsche Bank AG New York Branch, as administrative agent and Deutsche Bank Securities Inc., as sole lead arranger and book-running manager (as amended, the "SN Term Loan"). On October 15, 2015 , the Company amended and restated the SN Term Loan and made the initial draw down of borrowings of $96.9 million in connection with the First Summit Closing. On November 2, 2015 , the Company drew down borrowings of $26.0 million in connection with the First Noble Closing. On December 2, 2015 the Company drew down borrowings of $42.3 million in connection with the Second Noble Closing. On February 11, 2016 , the Company drew down borrowings of $70.4 million in connection with the Third Summit Closing, and amended the SN Term Loan to reduce the lenders’ total commitment from $450.0 million to $293.4 million . On July 1, 2016, the period in which the Company had the ability to further draw down on the SN Term Loan expired, reducing the lenders' total commitment to $235.5 million . No additional amounts are available to be drawn under the SN Term Loan. Due to the amendment and the expiration, the Company recorded a reduction to its deferred financing fees associated with the SN Term Loan. The reduction of $3.0 million was reflected as a general and administrative expense in the Consolidated/Combined Statements of Operations and Comprehensive Loss. The SN Term Loan provided for financing (the “Loans”) at a rate equal to a base rate plus a spread of between 3.25% and 3.75% for Eurodollar rate Loans and between 2.25% and 2.75% for base rate Loans, depending on the aggregate debt yield and aggregate loan-to-value of the properties securing the Loans measured periodically. Prior to November 1, 2015 , all spreads were 0.5% less than they will be during the rest of the term. The SN Term Loan has a term of three years , with two one-year extension options, and is secured by the fee interest in the hotels as and when they are acquired. The extensions on the SN Term Loan can only occur if certain conditions are met, including a condition that a minimum ratio of net operating income to debt outstanding be satisfied. If the Company exercises the extension options the Loans will amortize in an amount of 2.5% per annum payable quarterly. There can be no assurance that we will be able to meet these conditions and extend the Loans pursuant to its terms. Pursuant to the SN Term Loan, the Company agreed to make periodic payments into an escrow account for the property improvement plans required by the franchisors. The SN Term Loan includes the following financial covenants: minimum debt service coverage ratio, minimum consolidated net worth and minimum consolidated liquidity. As of December 31, 2016 , the Company was in compliance with these financial covenants.

Promissory Notes Payable

Promissory Notes Payable	12 Months Ended
	Dec. 31, 2016
Debt Disclosure [Abstract]
Promissory Notes Payable	Promissory Notes Payable The Company’s promissory notes payable as of December 31, 2016 and December 31, 2015 were as follows (in thousands): Outstanding Promissory Notes Payable Note Payable December 31, 2016 December 31, 2015 Interest Rate Summit Loan Promissory Note $ 23,405 $ — 13.0 % Less: Deferred Financing Fees, Net $ 25 $ — Promissory Notes Payable, Net $ 23,380 $ — On February 11, 2016 , the Summit Sellers loaned the Company $27.5 million under the Summit Loan. Proceeds from the Summit Loan totaling $20.0 million were used to pay a portion of the purchase price of the Third Summit Closing and proceeds from the Summit Loan totaling $7.5 million were used as a new purchase price deposit on the reinstated Second Summit Closing. As of December 31, 2016, the Summit Loan bore interest at a rate of 13.0% per annum, of which 9.0% is paid in cash monthly and an additional 4% (the “Added Rate”) accrues and is compounded monthly and added to the outstanding principal balance at maturity unless otherwise paid in cash by the Company. As of December 31, 2016 , the Summit Loan had a maturity date of February 11, 2017 , and the Seller Loan Agreement provides for two one -year extensions at the Company’s option. Upon each extension, the Added Rate will be increased by 1% . As required pursuant to the Summit Loan, the Company paid principal in the amount of $5.0 million during the year ended December 31, 2016 . The Company may pre-pay the Summit Loan in whole or in part without penalty at any time. Interest expense related to the Company's promissory notes payable for the year ended December 31, 2016 , the year ended December 31, 2015 , and the year ended December 31, 2014 were $2.9 million , $1.4 million , and $3.6 million , respectively. On January 12, 2017 , concurrent with the Company’s entry into the Summit Amendment, the Company entered into the Loan Amendment which amended the Summit Loan Promissory Note and the Additional Loan Agreement (See Note 17 - Subsequent Events).

Accounts Payable and Accrued Ex

Accounts Payable and Accrued Expenses	12 Months Ended
	Dec. 31, 2016
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): December 31, 2016 December 31, 2015 Trade accounts payable and accrued expenses $ 55,489 $ 57,472 Contingent consideration from Barceló Portfolio (See Note 10 - Commitments and Contingencies) 4,619 3,164 Hotel accrued salaries and related liabilities 8,411 6,619 Total $ 68,519 $ 67,255

Common Stock

Common Stock	12 Months Ended
	Dec. 31, 2016
Equity [Abstract]
Common Stock	Common Stock The Company had 38,493,430 shares and 36,300,777 shares of common stock outstanding and had received total proceeds therefrom of $913.0 million and $902.9 million as of December 31, 2016 and December 31, 2015 , respectively. The shares of common stock outstanding include shares issued as distributions through December 31, 2016 , as a result of the Company's change in distribution policy adopted by the Company's board of directors in March 2016 as described below. Subsequent to the year ended December 31, 2016 and through March 15, 2017 , the Company issued 315,383 shares of common stock as stock distributions with respect to December 2016 and the period from January 1, 2017 through January 13, 2017 , the date these distributions were suspended (See Note 17 - Subsequent Events). Distributions On February 3, 2014 , the Company's board of directors declared distributions payable to stockholders of record each day during the applicable month at a rate equal to $0.0046575343 per day (or $0.0046448087 if a 366-day year), or $1.70 per annum, per share of common stock. The first distribution was paid in May 2014 to holders of record in April 2014. To date, the Company has funded all of its cash distributions with proceeds from the Offering, which has been suspended as of December 31, 2015 . In March 2016 the Company’s board of directors changed the distribution policy, such that distributions paid with respect to April 2016 were paid in shares of common stock instead of cash to all stockholders, and not at the election of each stockholder. Accordingly, the Company paid a cash distribution to stockholders of record each day during the quarter ended March 31, 2016 , but distributions for subsequent periods have been paid in shares of common stock. Distributions for the quarter ended June 30, 2016 were paid in common stock in an amount equivalent to $1.70 per annum, divided by $23.75 . On July 1, 2016 , the Company's board of directors approved an Estimated Per-Share NAV, which was published on the same date. This was the first time that the Company’s board of directors determined an Estimated Per-Share NAV. In connection with its determination of Estimated Per-Share NAV, the Company’s board of directors revised the amount of the distribution to $1.46064 per share per annum, equivalent to a 6.80% annual rate based on Estimated Per-Share NAV, automatically adjusting if and when the Company publishes an updated Estimated Per-Share NAV. The Company anticipates it will publish an updated Estimated Per-Share NAV no less frequently than once each calendar year. The Company’s board of directors authorized distributions, payable in shares of common stock, at a rate of 0.068 multiplied by the Estimated Per-Share NAV in effect as of the close of business on the applicable date. Therefore, beginning with distributions payable with respect to July 2016, the Company has paid distributions to its stockholders in shares of common stock on a monthly basis to stockholders of record each day during the prior month in an amount equal to 0.000185792 per share per day, or $1.46064 per annum, divided by $21.48 . On January 13, 2017 , in connection with the Company's entry into the SPA, the Company suspended paying distributions to its stockholders entirely (See Note 17 - Subsequent Events). Currently, under the Brookfield Approval Rights, prior approval is required before the Company can declare or pay any distributions or dividends to its common stockholders, except for cash distributions equal to or less than $0.525 per annum per share. Share Repurchase Program In order to provide stockholders with interim liquidity, the Company’s board of directors adopted a share repurchase program (“SRP”) that enabled the Company’s stockholders to sell their shares back to the Company after having held them for at least one year , subject to significant conditions and limitations, including that the Company's board of directors had the right to reject any request for repurchase, in its sole discretion, and could amend, suspend or terminate the SRP upon 30 days ' notice. In connection with the Company’s entry into the SPA, the Company's board of directors suspended the SRP effective as of January 23, 2017 . In connection with the Initial Closing, the Company's board of directors terminated the SRP as of April 30, 2017 . The Company did no t make any repurchases of common stock pursuant to the SRP or otherwise during the year ended December 31, 2016 (except for the repurchases of 28,264 shares for $0.6 million at an average repurchase price per share of $23.44 with respect to repurchase requests received during the year ended December 31, 2015 that were completed in January 2016 ) and has not, and will not, make any repurchase of common stock during the period between January 1, 2017 and the effectiveness of the termination of the SRP. Distribution Reinvestment Plan Pursuant to the DRIP, to the extent the Company pays distributions in cash, stockholders may elect to reinvest distributions by purchasing shares of common stock. No dealer manager fees or selling commissions are paid with respect to shares purchased pursuant to the DRIP. The shares purchased pursuant to the DRIP have the same rights and are treated in the same manner as all other shares of the Company's common stock. The Company's 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 Consolidated Balance Sheets in the period distributions are paid. There were 1,226,867 shares issued under the DRIP as of December 31, 2016 . There were 828,217 shares issued under the DRIP as of December 31, 2015 . Commencing with distributions paid with respect to April 2016, the Company has paid distributions in shares of common stock instead of cash. Shares are only issued pursuant to our DRIP in connection with distributions paid in cash. All shares issued under the DRIP were purchased at $23.75 per share. If and when the Company issues any additional shares of common stock under the DRIP, distributions reinvested in common stock will be at a price equal to the Estimated Per-Share NAV. On January 13, 2017 , the Company's board of directors suspended the DRIP (See Note 17 - Subsequent Events).

Fair Value Measurements

Fair Value Measurements	12 Months Ended
	Dec. 31, 2016
Fair Value Disclosures [Abstract]
Fair Value Measurements	Fair Value Measurements 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 (in thousands): December 31, 2016 Carrying Amount Fair Value Mortgage notes payable (1) $ 1,442,330 $ 1,439,990 (1) Carrying amount does not include that associated deferred financing fees as of December 31, 2016. The fair value of the mortgage notes payable were determined using the discounted cash flow method and applying current market rates and is classified as level 3 under the fair value hierarchy. As described in Note 10 - Commitments and Contingencies, the carrying amount of the contingent consideration related to the Barceló Portfolio acquisition was remeasured to fair value as of December 31, 2016 . As described in Note 14 - Impairments, the Company recorded an impairment charge of $2.4 million during the quarter ended June 30, 2016 , to reflect one hotel asset at its fair value of $6.2 million . This value was determined using one or more unobservable inputs representing a nonrecurring level 3 fair value measurement.

Commitments and Contingencies

Commitments and Contingencies	12 Months Ended
	Dec. 31, 2016
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, claims and regulatory matters. There are no material legal or regulatory proceedings pending or known to be contemplated against the Company at the date of this filing. 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 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 Barceló Portfolio is a contingent consideration payable to BCC based on the operating results of the Baltimore Courtyard, Providence Courtyard and Stratford Homewood Suites. During August 2016, the Company and BCC entered into an agreement extending and modifying the payment terms of the contingent consideration. The amount payable is calculated by applying a contractual capitalization rate to the excess earnings before interest, taxes, and depreciation and amortization, earned in the third year after the acquisition over an agreed upon target, provided the contingent consideration generally will not be less than $4.1 million or exceed $4.6 million . During the year ended December 31, 2016, the Company revised its forecast resulting in an increase in the contingent consideration payable of $1.5 million . The change in the contingent consideration payable is reflected in other income (expense) in the Consolidated/Combined Statements of Operations and Comprehensive Income (Loss) for the year ended December 31, 2016 . The contingent consideration payable as of December 31, 2016 is $4.6 million . The Company anticipates paying the contingent consideration on July 3, 2017 .

Related Party Transactions and

Related Party Transactions and Arrangements	12 Months Ended
	Dec. 31, 2016
Related Party Transactions [Abstract]
Related Party Transactions and Arrangements	Related Party Transactions and Arrangements As of December 31, 2016 , American Realty Capital Hospitality Special Limited Partner, LLC (the "Special Limited Partner"), which is wholly owned by AR Capital, owned 9,308 shares of the Company’s outstanding common stock. Additionally, as of December 31, 2016 , AR Capital, the parent of the Company's sponsor, owned 23,270 shares of the Company's outstanding common stock, and AR Global owned 6,699 shares of the Company's outstanding common stock. Crestline is also under common control with AR Capital and AR Global. See Note 17 - Subsequent Events for additional information regarding the Company’s issuance of additional shares of the Company’s common stock to the Property Manager and the Advisor at the Initial Closing pursuant to the Framework Agreement. The Company's Former Dealer Manager served as the dealer manager of the IPO. SK Research, LLC and American National Stock Transfer, LLC ("ANST"), both subsidiaries of the parent company of the Former Dealer Manager, provided other general professional services through December 2015 and January 2016 , respectively. RCS Capital Corporation ("RCAP"), the parent company of the Former Dealer Manager and certain of its affiliates that provided services to the Company, filed for Chapter 11 bankruptcy protection in January 2016 , prior to which it was also under common control with AR Capital, the parent of the Company's sponsor, and AR Global. In May 2016, RCAP and its affiliated debtors emerged from bankruptcy under the new name, Aretec Group, Inc. Prior to the Initial Closing, the Advisor and its affiliates were entitled to a variety of fees, and may incur and pay costs and fees on behalf of the Company for which they were entitled to reimbursement. The Company had a payable due to related parties related to operating, acquisition, financing and offering costs of $2.9 million and $6.5 million as of December 31, 2016 and December 31, 2015 , respectively. At the Initial Closing, the Advisory Agreement was terminated and certain employees of the Advisor or its affiliates (including Crestline) who had been involved in the management of the Company’s day-to-day operations, including all of its executive officers, became employees of the Company. The Company also terminated all of its other agreements with affiliates of the Advisor except for its hotel-level property management agreements with Crestline and entered into a transition services agreement with each of the Advisor and Crestline, pursuant to which the Company will receive their assistance in connection with investor relations/shareholder services and support services for pending transactions in the case of the Advisor and accounting and tax related services in the case of Crestline until June 29, 2017 . The transition services agreement with Crestline for accounting and tax related services will automatically renew for successive 90 -day periods unless either party elects to terminate. The transition services agreement with the Advisor may be extended with respect to the support services for pending transactions for an additional 30 days by written notice delivered prior to the expiration date. See Note 17 - Subsequent Events for additional information regarding other payments made to the Advisor and the Property Manager at the Initial Closing, as well as other terms of the transactions contemplated by the Framework Agreement. Fees Paid in Connection with the Offering The Former Dealer Manager was paid fees and compensation in connection with the sale of the Company's common stock in the Offering prior to its suspension. The Former Dealer Manager was 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 Former Dealer Manager was 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 Former Dealer Manager was entitled to reallow its dealer-manager fee to participating broker-dealers. A participating broker dealer was entitled to 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 was elected, the dealer manager fee has been reduced to 2.5% of gross proceeds. On December 31, 2015, the Company, the Advisor and the Former Dealer Manager mutually agreed, pursuant to a termination agreement dated December 31, 2015, to terminate the Exclusive Dealer Manager Agreement dated January 7, 2014 among the Company, the Advisor and the Former Dealer Manager. No dealer manager fees or selling commissions are paid with respect to shares purchased pursuant to the DRIP. The table below shows the commissions and fees incurred from and payable to the Former Dealer Manager for the Offering during the year ended December 31, 2016 , 2015 , 2014 and the associated payable as of December 31, 2016 and December 31, 2015 , which is recorded in due to related parties on the Company's Consolidated Balance Sheets (in thousands): Year Ended December 31 Payable as of 2016 2015 2014 December 31, 2016 December 31, 2015 Total commissions and fees incurred from the Former Dealer Manager $ 71 $ 61,079 $ 24,099 $ — $ 1 The Advisor and its affiliates were paid compensation and/or received reimbursement for services relating to the Offering, including transfer agency services provided by ANST, an affiliate of the Former Dealer Manager. The Company is responsible for the Offering and related costs (excluding selling 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 December 31, 2016 , Offering and related costs (excluding selling commissions and dealer manager fees) exceeded 2.0% of gross proceeds received from the Offering by $5.9 million . At the Initial Closing, pursuant to the Framework Agreement, the Company waived the Advisor's obligations to reimburse the Company for these Offering and related costs (See Note 17 - Subsequent Events). Offering costs incurred by the Advisor or its affiliated entities on behalf of the Company have generally been recorded as a reduction to additional paid-in-capital on the accompanying Consolidated Balance Sheets. The table below shows compensation and reimbursements incurred and payable to the Advisor and its affiliates for services relating to the Offering during the year ended December 31, 2016 , the year ended December 31, 2015 , and the year ended December 31, 2014 , and the associated amounts payable as of December 31, 2016 and December 31, 2015 , which is recorded in due to related parties on the Company’s Consolidated Balance Sheets (in thousands). Year Ended December 31 Payable as of 2016 2015 2014 December 31, 2016 December 31, 2015 Total compensation and reimbursement for services provided by the Advisor and its affiliates related to the Offering (1) $ — $ 15,007 $ 3,915 $ 447 $ 787 ( 1) Included in the table above for the year ended December 31, 2015 , were certain reimbursements incurred and payable to the Advisor and its affiliates for services of approximately $0.8 million that were reflected in general and administrative expenses on the accompanying consolidated/combined statements of operations and comprehensive income (loss). AR Capital was a party to a services agreement with RCS Advisory Services, LLC ("RCS Advisory"), an affiliate of the Former Dealer Manager, pursuant to which RCS Advisory and its affiliates provided the Company and certain other companies sponsored by AR Global with services (including, without limitation, transaction management, compliance, due diligence, event coordination and marketing services, among others) on a time and expenses incurred basis or at a flat rate based on services performed. AR Capital instructed RCS Advisory to stop providing such services in November 2015 and no services have since been provided by RCS Advisory. The Company was also party to a transfer agency agreement with ANST, pursuant to which ANST provided the Company with transfer agency services (including broker and stockholder servicing, transaction processing, year-end IRS reporting and other services), and supervisory services overseeing the transfer agency services performed by a third-party transfer agent. AR Global received written notice from ANST on February 10, 2016 that it would wind down operations by the end of the month and would withdraw as the transfer agent effective February 29, 2016 . On February 26, 2016 , the Company entered into a definitive agreement with DST Systems, Inc., its previous provider of sub-transfer agency services, to provide the Company directly with transfer agency services (including broker and stockholder servicing, transaction processing, year-end IRS reporting and other services). Following the suspension of the IPO on November 15, 2015, fees payable with respect to transfer agency services are included in general and administrative expenses on the Consolidated/Combined Statements of Operations and Comprehensive Income (Loss) during the period the service was provided. Fees Paid in Connection With the Operations of the Company Fees Paid to the Advisor Prior to the Initial Closing, the Advisor receives an acquisition fee of 1.5% of (A) the contract purchase price of each acquired property and (B) the amount advanced for a loan or other investment. The Advisor was also reimbursed for expenses incurred in the process of acquiring properties, in addition to third-party costs the Company paid directly to, or reimbursed the Advisor for. Additionally, the Company reimbursed the Advisor for legal expenses it or its affiliates directly incurred 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. Fees paid to the Advisor related to acquisitions are reported as a component of net income (loss) in the period incurred. The aggregate amounts of acquisition fees, acquisition expenses and financing coordination fees (as described below) were also subject to certain other limitation that never became applicable during the term of the Advisory Agreement. Prior to the Initial Closing, if the Advisor provided services in connection with the origination or refinancing of any debt that the Company obtained and used to acquire properties or to make other permitted investments, or that was assumed, directly or indirectly, in connection with the acquisition of properties, the Company paid 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. Fees paid to the Advisor related to debt financings are deferred and amortized over the term of the related debt instrument. Prior to the Initial Closing, the Advisor received a subordinated participation for asset management services it provides to the Company. For asset management services provided by the Advisor prior to October 1, 2015 , the subordinated participation was issued quarterly in the form of performance-based restricted, forfeitable partnership units of the OP designated as “Class B Units” ("Class B Units"). On November 11, 2015 , the Company, the OP and the Advisor agreed to an amendment to the advisory agreement (as amended, the "Advisory Agreement"), pursuant to which, effective October 1, 2015 , the Company became required to pay asset management fees in cash (subject to certain coverage limitations during the pendency of the Offering), or shares of the Company's common stock, or a combination of both, at the Advisor’s election, and the asset management fee is paid on a monthly basis. The monthly fees were equal to: • The cost of the Company’s assets, (until July 1, 2016, then the lower of the cost of the Company's assets or the fair market value of the Company's assets), multiplied by • 0.0625% . For asset management services provided by the Advisor prior to October 1, 2015 , the Company issued Class B Units on a quarterly basis in an amount equal to: • The cost of the Company’s assets multiplied by • 0.1875% , divided by • The value of one share of common stock as of the last day of such calendar quarter, which was equal to $22.50 (the Offering price prior to its suspension minus selling commissions and dealer manager fees). In March 2016, the Company amended its agreement with the Advisor to give the Company the right, for a period commencing on June 1, 2016 and ending on June 1, 2017, subject to certain conditions, to pay up to $500,000 per month of asset management fees payable to the Advisor under the Company's agreement with the Advisor in shares of common stock. These conditions were never met and no asset management fees were paid in shares of common stock during the term of the Advisory Agreement, which terminated at the Initial Closing. The Advisor was entitled to receive distributions on the Class B Units it had received 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 and other distributions the Advisor and its affiliates were entitled to receive from the Company and the OP, 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, each as described below. The restricted Class B Units were not scheduled to become unrestricted Class B Units until certain performance conditions are satisfied, including until the adjusted market value of the OP’s assets plus applicable distributions equals or exceeds the aggregate capital contributed by investors plus an amount equal to a 6.0% cumulative, pre-tax, non-compounded annual return to investors, and the occurrence of a sale of all or substantially all of the OP’s assets, a listing of the Company’s common stock, or a termination of the advisory agreement without cause. A total of 524,956 Class B Units have been issued as of December 31, 2016 for asset management services performed by the Advisor and a total of 21,187 shares of common stock have been issued as of December 31, 2016 to the Advisor for distributions payable on the Class B Units. At the Initial Closing, pursuant to the Framework Agreement, all 524,956 Class B Units held by the Advisor were converted into 524,956 OP Units, and, immediately following such conversion, those 524,956 OP Units were redeemed for 524,956 shares of the Company's common stock. See Note 17 - Subsequent Events. The issuance of Class B Units did not result in any expense on the Company’s Consolidated/Combined Statements of Operations and Comprehensive Income (Loss), except for distributions paid on the Class B Units. The distributions payable on Class B Units for periods through March 31, 2016 were paid in cash. Beginning in the second quarter ended June 30, 2016 , the Company began paying distributions on the Class B Units in shares of common stock on the same terms paid to the Company’s stockholders. The table below presents the Class B Units distribution expense for the year ended December 31, 2016 , December 31, 2015 , and December 31, 2014 respectively and the associated payable as of December 31, 2016 and December 31, 2015 , which is recorded in due to related parties on the Company's Consolidated Balance Sheets (in thousands): Year Ended December 31 Payable as of 2016 2015 2014 December 31, 2016 December 31, 2015 Class B Units distribution expense $ 830 $ 419 $ 18 $ 65 $ 92 The table below presents the asset management fees, acquisition fees, acquisition cost reimbursements and financing coordination fees charged by the Advisor in connection with the operations of the Company for the year s ended December 31, 2016 , 2015 , and 2014 and the associated payable as of December 31, 2016 and December 31, 2015 , which is recorded in due to related parties on the Company's Consolidated Balance Sheets (in thousands): Year Ended December 31 Payable as of 2016 2015 2014 December 31, 2016 December 31, 2015 Asset management fees $ 18,004 $ 4,097 $ — $ 8 $ 1,190 Acquisition fees $ 1,624 $ 31,068 $ 1,598 $ — $ — Acquisition cost reimbursements $ 108 $ 2,066 $ — $ — $ — Financing coordination fees $ 206 $ 16,994 $ 815 $ — $ — $ 19,942 $ 54,225 $ 2,413 $ 8 $ 1,190 Prior to the Initial Closing, the Company reimbursed the Advisor’s costs for 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, impairment or other similar non-cash reserves and excluding any gain from the sale of assets for that period, unless the Company’s independent directors determine that such excess was justified based on unusual and nonrecurring factors which they deem sufficient, in which case the excess amount may be reimbursed to the Advisor in subsequent periods. Additionally, the Company reimbursed the Advisor for personnel costs in connection with other services; however, the Company has not reimbursed the Advisor for personnel costs, including executive salaries, in connection with services for which the Advisor received acquisition fees, acquisition expenses or real estate commissions. These expense reimbursements are included in the amount reported under total compensation and reimbursement for services provided by the Advisor and its affiliates related to the Offering described above under "Fees Paid in Connection with the Offering." The table below represents reimbursements to the Advisor for the year ended December 31, 2016 , the year ended December 31, 2015 , and the year ended December 31, 2014 , and the associated payable as of December 31, 2016 and December 31, 2015 , which is recorded in due to related parties on the Company's Consolidated Balance Sheets (in thousands): Year Ended December 31 Payable as of 2016 2015 2014 December 31, 2016 December 31, 2015 Total general and administrative expense reimbursement for services provided by the Advisor $ 2,442 $ — $ — $ 522 $ 72 Following the Initial Closing, all of the above fees and reimbursements are no longer payable to the Advisor as the Advisory Agreement has been terminated (See Note 17 - Subsequent Events). Fees Paid to the Property Manager and Crestline Prior to the Initial Closing, the Company paid a property management fee of up to 4.0% of the monthly gross receipts from the Company's properties to the Property Manager. The Property Manager, in turn, paid a portion of the property management fees to Crestline or a third-party sub-property manager, as applicable. The Company also reimbursed Crestline or a third-party sub-property manager, as applicable, for property level expenses, as well as fees and expenses of such sub-property manager. The Company did not, however, reimburse Crestline or any third-party sub-property manager 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, and, in certain circumstances, who are engaged in off-site activities. Prior to the Initial Closing, the Company also paid its Property Manager (which payment was assigned to Crestline) an annual incentive fee equal to 15% of the amount by which the operating profit from the properties sub-managed by Crestline for such fiscal year (or partial fiscal year) exceeds 8.5% of the total investment of such properties. Incentive fees incurred by the Company were approximately $0.4 million and $0.1 million for the years ended December 31, 2016 and December 31, 2015 , respectively. Incentive fees incurred by the Company were less than $0.1 million for the year ended December 31, 2014 . The table below shows the management fees (including incentive fees described above) and reimbursable expenses incurred by the Company from Crestline or the Property Manager (and not payable to a third party sub-property manager) during the year ended December 31, 2016 , the year ended December 31, 2015 , and the year ended December 31, 2014 respectively, and the associated payable as of December 31, 2016 and December 31, 2015 (in thousands): Year Ended December 31 Payable as of 2016 2015 2014 December 31, 2016 December 31, 2015 Total management fees and reimbursable expenses incurred from Crestline $ 16,181 $ 9,898 $ 2,579 $ 1,306 $ 1,106 Total management fees incurred from Property Manager $ 8,459 $ 6,816 $ 262 $ 532 $ 3,553 Total $ 24,640 $ 16,714 $ 2,841 $ 1,838 $ 4,659 The Company paid Crestline interest on the Property Improvement Plan Promissory Note of $1.8 million (see Note 6 - Promissory Notes Payable). In the second quarter ended June 30, 2015 , the Company repaid in full the Property Improvement Plan Promissory Note. The table below shows the interest expense incurred by the Company during the year ended December 31, 2016 , December 31, 2015 and the year ended December 31, 2014 , respectively, and the associated payable as of December 31, 2016 and December 31, 2015 , which is recorded in due to affiliates on the consolidated balances sheets (in thousands): Year Ended December 31 Payable as of 2016 2015 2014 December 31, 2016 December 31, 2015 Interest payment related to the Property improvement plan promissory note $ — $ 21 $ 63 $ — $ — Following the Initial Closing, the Company no longer has any agreements with the Property Manager and instead contracts directly or indirectly, through its taxable REIT subsidiaries, with Crestline and the third-party property management companies that previously served as sub-property managers to manage the Company’s hotel properties pursuant to terms amended in connection with the consummation of the transactions contemplated by the Framework Agreement (See Note 17 - Subsequent Events). Fees Paid in Connection with the Liquidation or Listing Prior to the Initial Closing, the Company was required to pay the Advisor an annual subordinated performance fee calculated on the basis of the Company’s total return to stockholders, payable monthly in arrears, such that for any year in which the Company’s total return on stockholders’ capital exceeds 6.0% per annum, the Advisor was 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 was 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 year s ended December 31, 2016 , December 31, 2015 , and December 31, 2014 respectively, and no such fee was payable in connection with the Initial Closing. Prior to the Initial Closing, the Company could 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 could 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. In connection with the sale of a hotel on October 14, 2016, the Company paid the Advisor a brokerage commission of approximately $0.3 million (See Note 15 - Sale of Hotel). No such commissions were incurred during the years ended December 31, 2015 or December 31, 2014 , respectively, and no commissions were payable in connection with the Initial Closing. Prior to the Initial Closing, the Special Limited Partner was entitled to receive 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 was not 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 participation became due and payable as of December 31, 2016 , and no such participation was payable in connection with the Initial Closing . Prior to the Initial Closing, if the common stock of the Company was listed on a national exchange, the Special Limited Partner would have been entitled to receive 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 on their capital contributions. The Special Limited Partner would not have been entitled to the subordinated incentive listing distribution unless investors have received a 6.0% cumulative, pre-tax non-compounded annual return on their capital contributions. No such distributions have been incurred as of December 31, 2016 , and no such distributions were payable in connection with the Initial Closing. Prior to the Initial Closing, in the event of a 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, was 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. No such distributions have been incurred as of December 31, 2016 , and no such distributions were payable in connection with the Initial Closing. The Special Limited Partner’s right to these distributions and participations was automatically forfeited and redeemed by the OP without the payment of any consideration to the Special Limited Partner or any of its affiliates. (See Note 17 - Subsequent Events).

Economic Dependency

Economic Dependency	12 Months Ended
	Dec. 31, 2016
Economic Dependency [Abstract]
Economic Dependency	Economic Dependency As of December 31, 2016 , under various agreements, the Company has engaged 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, as well as other administrative responsibilities for the Company including accounting services and investor relations.As a result of these relationships, the Company was dependent upon the Advisor and its affiliates. At the Initial Closing, the Advisory Agreement was terminated and certain employees of the Advisor or its affiliates (including Crestline) who had been involved in the management of the Company’s day-to-day operations, including all of its executive officers, became employees of the Company. As a result of the Company becoming self-managed, the Company now will lease office space, have its own communications and information systems and directly employ a staff. The Company also terminated all of its other agreements with affiliates of the Advisor except for hotel-level property management agreements with Crestline and entered into a transition services agreement with each of the Advisor and Crestline, pursuant to which the Company will receive their assistance in connection with investor relations/shareholder services and support services for pending transactions in the case of the Advisor and accounting and tax related services in the case of Crestline until June 29, 2017 . The transition services agreement with Crestline for accounting and tax related services will automatically renew for successive 90 -day periods unless either party elects to terminate. The transition services agreement with the Advisor may be extended with respect to the support services for pending transactions for an additional 30 days by written notice delivered prior to the expiration date. Until the Initial Closing, the Advisor and its affiliates used their respective commercially reasonable efforts to assist the Company and its subsidiaries to take such actions as the Company and its subsidiaries reasonably deem necessary to transition to self-management, including, but not limited to providing books and records, accounting systems, software and office equipment. Pursuant to the Framework Agreement, the Company also entered into certain other agreements at the Initial Closing to facilitate the transition to self-management. See Note 17 - Subsequent Events for additional information.

Income Taxes

Income Taxes	12 Months Ended
	Dec. 31, 2016
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes The Company elected and qualified to be taxed as a REIT under Sections 856 through 860 of the Code commencing with its tax year ended December 31, 2014 . In order to continue to qualify as a REIT, the Company must annually distribute to its stockholders 90% of its REIT taxable income (which does not equal net income as calculated in accordance with GAAP), determined without regard to the deduction for dividends paid and excluding net capital gain, and must comply with various other organizational and operational requirements. Distributions to stockholders for the tax year ended December 31, 2016 were all deemed to be return of capital. The components of income tax expense for the years ended December 31, 2016 , December 31, 2015 and December 31, 2014 are presented in the following table, in thousands. Year Ended December 31, 2016 2015 2014 Current: Federal $ 994 $ 2,664 $ 633 State 48 549 91 Total $ 1,042 $ 3,213 $ 724 Deferred: Federal $ 308 $ (98 ) $ (116 ) State 21 (9 ) (17 ) Total 329 (107 ) (133 ) Income tax expense $ 1,371 $ 3,106 $ 591 A reconciliation of the statutory federal income tax benefit of the Company's income tax expense is presented in the following table, in thousands. Year Ended December 31, 2016 2015 2014 Statutory federal income tax benefit $ (23,991 ) $ (31,121 ) $ (4,845 ) Effect of non-taxable REIT loss 25,266 33,720 5,361 State income tax expense, net of federal tax benefit 96 507 73 Other — — 2 Income tax expense $ 1,371 $ 3,106 $ 591 The tax effect of each type of temporary difference and carryforward, that gives rise to the deferred tax assets and liabilities for the year ended December 31, 2016 , December 31, 2015 and December 31, 2014 are presented in the following table, in thousands. Year Ended December 31, 2016 2015 2014 Deferred tax asset: Employee-related compensation $ — $ — $ — Other — 86 11 Net operating losses — 186 — Total Deferred Tax Assets $ — $ 272 $ 11 Deferred tax liability: Investments in unconsolidated joint ventures $ (59 ) $ (32 ) $ (30 ) Other (30 ) — — Total deferred tax liability (89 ) (32 ) (30 ) Net deferred tax asset $ (89 ) $ 240 $ (19 ) As of December 31, 2016 , the Company had a net deferred tax liability of $0.1 million . As of December 31, 2016 , the tax years that remain subject to examination by major tax jurisdictions include 2013, 2014 and 2015.

Impairment of Long Lived Assets

Impairment of Long Lived Assets	12 Months Ended
	Dec. 31, 2016
Real Estate [Abstract]
Impairment of Long Lived Assets	Impairment of Long Lived Assets In the quarter ended June 30, 2016 , the Company identified an indicator of impairment at one of its hotels, primarily due to decreased operating performance. As required by Accounting Standards Codification section 360 (ASC 360), once an indicator of impairment is identified, the Company is required to perform a test for recoverability. This test compares the sum of the estimated undiscounted future cash flows attributable to the hotel to its carrying amount. The Company determined that the estimated undiscounted future cash flows attributable to the hotel did not exceed its carrying amount and an impairment existed. The Company then determined the fair value of the hotel using the discounted cash flow method to be $6.2 million , approximately $2.4 million less than the carrying amount of the hotel at June 30, 2016 of $8.6 million , and recorded the impairment loss in the Consolidated/Combined Statements of Operations and Comprehensive Income (Loss). The Company has not recorded an impairment in any other periods. Sale of Hotel On October 14, 2016, the Company completed the sale of one hotel for a sales price of $13.0 million , resulting in a net gain of approximately $2.5 million , which is reflected in other income (expense) on the Company’s Consolidated/Combined Statement of Operations and Comprehensive Income (Loss). The Company used the proceeds from the sale to reduce the Assumed Grace Indebtedness by $8.5 million , redeem $2.1 million in Grace Preferred Equity Interests, the Company's mandatorily redeemable preferred securities, and for other general corporate purposes. The net carrying value of the sold hotel consisted of the following (in thousands): December 31, 2016 Land $ 2,675 Buildings and improvements 7,069 Furniture, fixtures and equipment 1,450 Carrying Value 11,194 Less: Accumulated Depreciation (1,023 ) Net Carrying Value $ 10,171

Sale of Hotel

Sale of Hotel	12 Months Ended
	Dec. 31, 2016
Real Estate [Abstract]
Sale of Hotel	Impairment of Long Lived Assets In the quarter ended June 30, 2016 , the Company identified an indicator of impairment at one of its hotels, primarily due to decreased operating performance. As required by Accounting Standards Codification section 360 (ASC 360), once an indicator of impairment is identified, the Company is required to perform a test for recoverability. This test compares the sum of the estimated undiscounted future cash flows attributable to the hotel to its carrying amount. The Company determined that the estimated undiscounted future cash flows attributable to the hotel did not exceed its carrying amount and an impairment existed. The Company then determined the fair value of the hotel using the discounted cash flow method to be $6.2 million , approximately $2.4 million less than the carrying amount of the hotel at June 30, 2016 of $8.6 million , and recorded the impairment loss in the Consolidated/Combined Statements of Operations and Comprehensive Income (Loss). The Company has not recorded an impairment in any other periods. Sale of Hotel On October 14, 2016, the Company completed the sale of one hotel for a sales price of $13.0 million , resulting in a net gain of approximately $2.5 million , which is reflected in other income (expense) on the Company’s Consolidated/Combined Statement of Operations and Comprehensive Income (Loss). The Company used the proceeds from the sale to reduce the Assumed Grace Indebtedness by $8.5 million , redeem $2.1 million in Grace Preferred Equity Interests, the Company's mandatorily redeemable preferred securities, and for other general corporate purposes. The net carrying value of the sold hotel consisted of the following (in thousands): December 31, 2016 Land $ 2,675 Buildings and improvements 7,069 Furniture, fixtures and equipment 1,450 Carrying Value 11,194 Less: Accumulated Depreciation (1,023 ) Net Carrying Value $ 10,171

Quarterly Results (Unaudited)

Quarterly Results (Unaudited)	12 Months Ended
	Dec. 31, 2016
Quarterly Financial Information Disclosure [Abstract]
Quarterly Results (Unaudited)	Quarterly Results (Unaudited) Presented below is a summary of the unaudited quarterly financial information for the years ended December 31, 2016 and December 31, 2015: Quarters Ended (In thousands, except for share amounts) March 31, 2016 June 30, 2016 September 30, 2016 December 31, 2016 Total revenues $ 135,153 $ 163,230 $ 161,458 $ 139,751 Net income (loss) attributable to stockholders $ (43,957 ) $ (7,024 ) $ (6,684 ) $ (14,582 ) Basic and Diluted weighted average shares outstanding 38,571,410 38,776,850 38,788,041 38,794,215 Basic and Diluted net income (loss) per share $ (1.14 ) $ (0.18 ) $ (0.17 ) $ (0.38 ) Quarters Ended (In thousands, except for share amounts) March 31, 2015 June 30, 2015 September 30, 2015 December 31, 2015 Total revenues $ 54,826 $ 133,490 $ 132,852 125,016 Net income (loss) attributable to stockholders $ (39,976 ) $ 438 $ (5,082 ) $ (50,206 ) Basic weighted average shares outstanding 15,059,550 19,038,201 27,124,227 32,775,258 Diluted weighted average shares outstanding 15,059,550 19,072,777 27,124,227 32,775,258 Basic and Diluted net income (loss) per share $ (2.65 ) $ 0.02 $ (0.18 ) $ (1.53 )

Subsequent Events

Subsequent Events	12 Months Ended
	Dec. 31, 2016
Subsequent Events [Abstract]
Subsequent Events	Subsequent Events The Company has evaluated subsequent events through the filing of this Annual Report on Form 10-K, and determined that there have not been any events that have occurred that would require adjustments to disclosures in the accompanying consolidated/combined financial statements except for the following transactions: Securities Purchase, Voting and Standstill Agreement On January 12, 2017 , the Company and the OP entered into the SPA with the Brookfield Investor, as well as related guarantee agreements with certain affiliates of the Brookfield Investor. Initial Closing Pursuant to the terms of the SPA, at the Initial Closing, the Brookfield Investor agreed to purchase (i) the Redeemable Preferred Share, for a nominal purchase price, and (ii) 9,152,542.37 Class C Units, for a purchase price of $14.75 per Class C Unit, or $135.0 million in the aggregate. The Initial Closing occurred on March 31, 2017 . At the Initial Closing, (i) the Company filed Articles Supplementary setting forth the terms, rights, obligations and preferences of the Redeemable Preferred Share (the “Articles Supplementary”) with the State Department of Assessments and Taxation of Maryland (the “SDAT”), which became effective upon filing and (ii) the Brookfield Investor, the Special General Partner and the Company, in its capacity as general partner of the OP, entered into an amendment and restatement (the “A&R LPA”) of the OP’s existing agreement of limited partnership (the “Existing LPA”). Pursuant to the SPA, the gross proceeds from the sale of the Class C Units at the Initial Closing was, and will be used as follows: (i) $47.3 million to redeem outstanding Grace Preferred Equity Interests; (ii) $26.9 million to pay a portion of the purchase price for the hotels to be purchased in the Second Summit Closing; (iii) $15.0 million to fund PIPs and related lender reserves; (iv) $23.7 million to pay in full the Summit Loan; (v) $10.0 million to pay cash amounts due to the Property Manager under the Framework Agreement; (vi) $4.0 million to pay the commitment fee payable to the Brookfield Investor (which was deemed earned at the signing of the SPA) (the “Commitment Fee”); and (vii) the remainder to pay transaction costs related to the SPA, including $2.0 million reimbursements to the Brookfield Investor for its reasonable and documented out-of-pocket costs and expenses, and for working capital. Consummation of the Initial Closing was subject to the satisfaction of certain conditions, including, among other things, (i) the concurrent consummation of the transactions contemplated by the Framework Agreement, (ii) the Company having obtained certain specified consents from the holders of the Grace Preferred Equity Interests and certain lenders, franchisors and ground lessors of the Company and any other consents that, if not obtained, would reasonably be expected to be materially adverse to the Company and its subsidiaries, taken as a whole, (iii) the expansion of the Company’s board of directors to seven members, two of whom (including the chairperson of the Company’s board of directors) are Redeemable Preferred Directors elected by the Brookfield Investor and two of whom are independent directors recommended and nominated by the Company’s board of directors and approved by the Brookfield Investor (such approval not to be unreasonably withheld, conditioned or delayed) (each, an “Additional Independent”) pursuant to its rights as the holder of the Redeemable Preferred Share, and (iv) the Company and the Brookfield Investor, having entered into the Ownership Limit Waiver Agreement (as defined below). Follow-On Fundings Following the Initial Closing, subject to the terms and conditions of the SPA, the Company also has the right to sell, and the Brookfield Investor has agreed to purchase, additional Class C Units at the same price per unit as at the Initial Closing upon 15 business days’ prior written notice and in an aggregate amount not to exceed $265.0 million as follows (each such issuance, a “Follow-On Funding”): • On or prior to February 27, 2018, but no earlier than January 3, 2018, up to an amount that would be sufficient to reduce the outstanding amount of the Grace Preferred Equity Interests to approximately $223.5 million (the “First Follow-On Funding”). Proceeds from the First Follow-On Funding must be used by the OP exclusively to, concurrently with the closing of the First Follow-On Funding, redeem then outstanding Grace Preferred Equity Interests. • On or prior to February 27, 2019, but no earlier than January 3, 2019, up to the then outstanding amount of the Grace Preferred Equity Interests (the “Second Follow-On Funding”). Proceeds from the Second Follow-On Funding must be used by the OP exclusively to, concurrently with the closing of the Second Follow-On Funding, redeem all then outstanding Grace Preferred Equity Interests. • On or prior to February 27, 2019, in one or more transactions, up to an amount equal to the difference between the then unfunded portion of the Brookfield Investor’s $400.0 million funding commitment and the outstanding amount of the Grace Preferred Equity Interests. Proceeds from these Follow-On Fundings must be used by the OP exclusively to fund PIPs and related lender reserves, repay amounts then outstanding with respect to mortgage debt principal and interest and working capital. Consummation of any Follow-On Funding is subject to the satisfaction of certain conditions, including, among others, (i) with the exception of the First Follow-On Funding, the satisfaction of a debt yield test, (ii) the Company having obtained any consents that, if not obtained, would reasonably be expected to be materially adverse to the Company and its subsidiaries, taken as a whole, (iii) no continuing event of default having occurred under certain of the Company’s material loan agreements, (iv) the accuracy of certain of each party’s representations and warranties (subject to certain materiality qualifications), including, among other things, the absence of certain actions that would be material and adverse to the Company and its subsidiaries, taken as a whole, (v) each party’s material compliance with its covenants contained in the SPA, (vi) no Material Adverse Effect (as defined in the SPA) having occurred, and (vii) no Material Breach (as defined and more fully described in the A&R LPA, generally a breach by the Company of certain material obligations under the A&R LPA, subject to notice and cure provisions) or REIT Event (as defined and more fully described in the A&R LPA, the Company’s failure to satisfy any of the requirements for qualification and taxation as a REIT under certain circumstances, subject to notice and cure provisions) having occurred. In addition, from February 27, 2018 through February 27, 2019, the Brookfield Investor will have the right to purchase, and the OP has agreed to sell, in one or more transactions, the then unfunded portion of the Brookfield Investor’s $400.0 million funding commitment in transactions of no less than $25.0 million each. Termination and Guarantees Under the SPA, either the Company or the Brookfield Investor had the right to terminate the SPA if the Initial Closing has not occurred on or before June 30, 2017. The SPA also provides that the Company would have the right to seek specific performance of the Brookfield Investor’s obligations under the SPA. In connection with entering into the SPA, certain affiliates of the Brookfield Investor delivered a limited guarantee and a funding guarantee pursuant to which such affiliates have agreed, on a several and not joint basis, to guarantee certain obligations of the Brookfield Investor. Funding Failure If all conditions to a Follow-On Funding are met and the Brookfield Investor does not purchase Class C Units as required pursuant to the SPA, then, subject to the notice and cure provisions set forth in the SPA, a Funding Failure (as defined in the SPA) will be deemed to have occurred and, subject to certain limitations, certain of the Brookfield Investor’s approval rights under the Articles Supplementary and the A&R LPA (as described below under “- Approval Rights”), the rights of Class C Units to receive PIK Distributions, the convertibility of Class C Units into OP Units and the preemptive rights of holders of Class C Units under the A&R LPA would be suspended, subject to reinstatement (including payment of any PIK Distributions and related cash distributions to the extent not made) if (i) the Brookfield Investor or any other holder of Class C Units obtains a declaratory judgment or injunctive relief preventing the suspension of these rights, (ii) the parties otherwise agree that the conditions to the applicable Follow-On Funding were not met, or (iii) the Brookfield Investor consummates the applicable Follow-On Funding. If the Company or the OP obtains a final, non-appealable judgment of a court of competent jurisdiction finding that a Funding Failure has occurred at the time of the Subsequent Closing (a “Funding Failure Final Determination”), and the Brookfield Investor does not then consummate such Subsequent Closing and pay any damages required in connection with the judgment within ten business days, then (i) all of the suspended rights under the A&R LPA and the Articles Supplementary (including approval rights under the A&R LPA that had not previously been suspended) would be permanently terminated, (ii) the Company would be entitled to redeem the Redeemable Preferred Share at its par value of $0.01 , (iii) the OP would be entitled to redeem all or any portion of the then outstanding Class C Units in cash for their liquidation preference, (iv) all Class C Units received in respect of all PIK Distributions accrued from the date of the Initial Closing would be forfeited, and (v) the Brookfield Investor would be required to cause each of the Redeemable Preferred Directors to resign from the Company’s board of directors. Representations and Warranties and Indemnification The SPA contains certain representations and warranties made by the Company and the OP, on the one hand, and certain representations and warranties made by the Brookfield Investor, on the other hand. The representations and warranties were made by the parties as of the date of the SPA. Certain of these representations and warranties are subject to specified exceptions and qualifications contained in the SPA and are qualified by information the parties provided to each other in disclosure letters delivered in connection with the SPA. As a general matter, the Company’s representations and warranties survive the Initial Closing and any applicable Subsequent Closing under the SPA for 18 months . The Company is required to indemnify the Brookfield Investor and its affiliates in respect of any losses incurred by them arising out of any breach of the Company’s representations and warranties and covenants, and in connection with certain actions. Except in the case of certain fundamental representations, the Company’s obligation to indemnify the Brookfield Investor in respect of breaches of representations and warranties is subject to a $6.0 million deductible and a $25,000 per claim deductible. Other than with respect to claims in respect of breaches of certain fundamental representations and certain other representations, the Company’s indemnification obligations in respect of representation and warranty breaches is capped at $60.0 million , and the Company’s overall liability cap (outside of fraud or intentional misrepresentation) is the sum of (i) the Brookfield Investor’s aggregate investment in Class C Units purchased under the SPA through such time assuming compounding at a rate of 5% per annum and (ii) the amount of accrued and unpaid cash distributions payable on Class C Units held by the Brookfield Investor at the time payment is made. Standstill and Voting Pursuant to the SPA, from the Initial Closing until the 63 -month anniversary of the Initial Closing (or, if earlier, the date that is six months after the date on which the Brookfield Investor and its affiliates own 5% or less of the Company’s common stock on an as-converted basis), the Brookfield Investor, together with its affiliates, other than certain specified affiliates of the Brookfield Investor (the Brookfield Investor together with such included affiliates, the “Covered Brookfield Entities”), will be subject to customary standstill restrictions related to, among other things, acquisition proposals, proxy solicitations, attempts to elect or remove members of the Company’s board of directors and other methods of seeking to control or influence the management or the policies of the Company. In addition, from the Initial Closing until the earlier of (i) the second anniversary of the Initial Closing, and (ii) the completion of all Follow-On Fundings, the Covered Brookfield Entities will not be permitted to acquire more than 15% of the Company’s common stock then outstanding on an as-converted basis in addition to shares of the Company’s common stock on an as-converted basis acquired pursuant to the SPA or A&R LPA. These standstill restrictions will terminate 90 days following any failure by the OP to redeem Class C Units that the Brookfield Investor or its affiliates have elected to be redeemed in accordance with the A&R LPA. Pursuant to the SPA, the Covered Brookfield Entities are also subject to a standstill on voting that requires the Covered Brookfield Entities to vote any shares of the Company’s common stock owned by Covered Brookfield Entities in excess of 35% of the total number of shares of the Company’s common stock entitled to vote in accordance with the recommendations of the Company’s board of directors from the Initial Closing until the earliest to occur of: (i) a Material Breach, (ii) a REIT Event, (iii) the 63-month anniversary of the Initial Closing, (iv) the date on which the Covered Brookfield Entities, after having purchased Class C Units under the SPA resulting in the Covered Brookfield Entities owning at least 35% of the outstanding shares of the Company’s common stock on an as-converted basis, cease to own at least 35% of the outstanding shares of the Company’s common stock on an as-converted basis and (v) if the Covered Brookfield Entities have not purchased Class C Units under the SPA resulting in ownership of at least 35% of the outstanding shares of the Company’s common stock on an as-converted basis, February 27, 2019. Framework Agreement On January 12, 2017, the Company and the OP, entered into the Framework Agreement with the Advisor, the Property Manager, Crestline, the Special Limited Partner, and, for certain limited purposes, the Brookfield Investor. The Framework Agreement provides for the Company transitioning from an externally managed company with no employees of its own that is dependent on the Advisor and its affiliates to manage its day-to-day operations to a self-managed company and would have terminated automatically upon the termination of the SPA in accordance with its terms prior to the Initial Closing. The transactions contemplated by the Framework Agreement generally were consummated at, and as a condition to, the Initial Closing. At the Initial Closing, pursuant to the Framework Agreement, the Advisory Agreement was terminated. The Framework Agreement also provided that, on or prior to March 1, 2017, the Company’s independent directors had the right to provide written notice to the Advisor that such independent directors desired to extend the term of the Advisory Agreement, in which case, the Advisory Agreement would have been amended (the “Advisory Amendment”) such that it terminated on May 31, 2017. The Advisory Amendment would also have provided the Company the option to extend the Advisory Agreement for one additional two-calendar month period upon written notice to the Advisor by the Company’s independent directors given no later than May 1, 2017. The Advisory Amendment also would have terminated certain fees payable to the Advisor in respect of any event or transaction consummated on or after the effective date of the Advisory Amendment, including acquisition fees, real estate commissions, annual subordinated performance fees and financing coordination fees. On and after the effective date of the Advisory Amendment, only asset management fees and expense reimbursements would have been payable to the Advisor by the Company and its subsidiaries, net of employee costs directly paid by the Company and its subsidiaries. Pursuant to the Framework Agreement, if the SPA had been terminated in accordance with its terms prior to the Initial Closing or the Initial Closing had not occurred on or prior to June 1, 2017, then, instead, the Advisory Agreement would have been automatically amended with the sole modification being that the term of the Advisory Agreement would have extended into 2018 with slightly modified renewal and termination provisions. Until the expiration without renewal or termination of the Advisory Agreement, the Advisor and its affiliates agreed to use their respective commercially reasonable efforts to assist the Company and its subsidiaries to take such actions as the Company and its subsidiaries reasonably deem necessary to transition to self-management, including, but not limited to providing books and records, accounting systems, software and office equipment. In addition, the Advisor also granted the Company the right to hire certain of employees of the Advisor or its affiliates who were then involved in the management of the Company’s day-to-day operations, including all of the Company’s current executive officers, and made other agreements in order to promote retention of these individuals which relate to the compensation payable to them and other terms of their employment by the Advisor and its affiliates prior to the Initial Closing. The Framework Agreement also includes a right of first refusal for each of the Company and the Brookfield Investor in connection with (i) any proposed transfer, directly or indirectly, of all or substantially all of the 60% equity interest in Crestline held by the Advisor or its affiliates to any person other than to one of their affiliates or Barceló Crestline Corporation or its affiliates (“Permitted Acquirors”), the owner of the other 40% equity interest in Crestline, or (ii) any proposed transfer of all or a substantial portion of the assets of Crestline to any person other than to Permitted Acquirors. Summit Agreements On January 12, 2017, the Company, through a wholly owned subsidiary of the OP, entered into the Summit Amendment to the Reinstatement Agreement. Under the Summit Amendment, the closing date for the purchase of seven of the hotels remaining to be purchased under the Reinstatement Agreement for an aggregate purchase price of $66.8 million was extended from January 12, 2017 to April 27, 2017, following an amendment entered into on January 10, 2017 to extend the closing date from January 10, 2017 to January 12. 2017. The closing date for the purchase of an eighth hotel to be purchased under the Reinstatement Agreement for an aggregate purchase price of $10.5 million was extended from January 12, 2017 to October 24, 2017. Summit has informed the Company that this eighth hotel is subject to a pending purchase and sale agreement with a third party, and, if this sale is completed, the Company’s right and obligation to purchase this hotel will terminate in accordance with the terms of the Reinstatement Agreement. Concurrent with the Company’s entry into the Summit Amendment, the Company entered into the Loan Amendment with respect to the Summit Loan. Pursuant to the Loan Amendment, the maturity date of the loan under the Summit Loan was extended from February 11, 2017 to February 11, 2018, and additional amortization payments totaling $2.0 million were scheduled to occur in the amount of $1.0 million each on the last day of August and September 2017. As of December 31, 2016, $23.4 million was outstanding under the Summit Loan. If the closing of the Company’s purchase of the seven hotels under the Reinstatement Agreement occurs prior to February 11, 2018, then the outstanding principal of the Summit Loan and any accrued interest thereon shall become immediately due and payable in full. Concurrent with the Company’s entry into the Summit Amendment and the Loan Amendment, the Company and Summit entered into the Additional Loan Agreement pursuant to which Summit agreed to loan the Company an additional $3.0 million as consideration for the Summit Amendment. The maturity date of the Additional Loan under the Additional Loan Agreement is July 31, 2017, however, if the sale of the seven hotels to be sold pursuant to the Reinstatement Agreement on April 27, 2017 is completed on that date, the entire principal amount of the Additional Loan will be deemed paid in full and the interest accrued thereon shall become immediately due and payable. The Additional Loan initially bears interest at a rate of 13.0% per annum, of which 9.0% is paid in cash monthly and an additional 4% (the “Additional Loan Added Rate”) will accrue and be compounded monthly and added to the outstanding principal balance at maturity unless otherwise paid in cash by the Company. On February 11, 2017, the Additional Loan Added Rate will be increased by 1% . The Company must make amortization payments in the amount of $1.0 million on the last day of May, June and July 2017. The Additional Loan may be prepaid in whole or in part at any time, without payment of any penalty or premium. Initial Articles On January 13, 2017, pursuant to the SPA, the Company filed the Articles Supplementary of the Company (the “Initial Articles Supplementary”) with the SDAT, which became effective upon acceptance for record. The Initial Articles Supplementary elected to cause the Company to be subject to Section 3-804(c) of the MGCL that would require any vacancy on the Company’s board of directors, with respect to any member of the Company’s board of directors elected by holders of shares of the Company’s common stock, to be filled only by the majority vote of the remaining directors and for the remainder of the full term in which the vacancy occurred and until a successor is elected and qualifies notwithstanding anything to the contrary in the Company’s charter or bylaws. The Company’s bylaws in effect at the time the Initial Articles Supplementary were filed provided that: any vacancy on the Company’s board of directors for any cause other than an increase in the number of directors may be filled by a majority of the remaining directors, even if such majority is less than a quorum; any vacancy in the number of directors created by an increase in the number of directors may be filled by a majority vote of the entire board of directors; and any individual so elected as director will serve until the next annual meeting of stockholders and until his or her successor is elected and qualifies. Suspension of Distributions On January 13, 2017, as authorized by the Company’s board of directors, and in connection with its approval of the Company’s entry into the SPA, the Company’s board of directors suspended the distributions entirely that were payable to the Company’s stockholders of record in shares of the Company’s common stock each day during January 2017 in an amount equal to 0.000186301 per share per day. These distributions were payable on a monthly basis by the fifth day following each month-end to stockholders of record at the close of business each day during the prior month and will be payable to stockholders of record on each day during the period from January 1, 2017 to January 13, 2017. Suspension of SRP On January 13, 2017, as authorized by the Company’s board of directors, the SRP was suspended effective as of January 23, 2017. Suspension of DRIP On January 13, 2017, as authorized by the Company’s board of directors, the DRIP was suspended effective as of February 12, 2017. Issuances of Common Stock Subsequent to the year ended December 31, 2016 and through March 15, 2017 , the Company issued 315,383 shares of common stock as stock distributions with respect to December 2016 and the period from January 1, 2017 through January 13, 2017. Articles Supplementary In connection with the Initial Closing, the Articles Supplementary became effective. The Redeemable Preferred Share ranks on parity with the Company’s common stock, with the same rights with respect to preferences, conversion and other rights, voting powers, restrictions, limitations as to dividends and other distributions, qualifications, terms and conditions of redemption and other terms and conditions as the Company’s common stock, except as provided therein. At its election and subject to notice requirements, the Company may redeem the Redeemable Preferred Share for a cash amount equal to par value upon the occurrence of any of the following: (i) the first date on which no Class C Units remain outstanding; (ii) the date the liquidation preference applicable to all Class C Units held by the Brookfield Investor and its affiliates is reduced to $100.0 million or less due to the exercise by holders of Class C Units of their redemption rights under the A&R LPA; or (iii) the 11th business day after the date of a Funding Failure Final Determination if the Brookfield Investor does not consummate the applicable purchase of Class C Units at any Subsequent Closing. For so long as the Brookfield Investor holds the Redeemable Preferred Share, (i) the Brookfield Investor has the right to elect two Redeemable Preferred Directors (neither of whom may be subject to an event that would require disclosure pursuant to Item 401(f) of Regulation S-K in the Company’s definitive proxy statement), as well as to approve (such approval not to be unreasonably withheld, conditioned or delayed) two Additional Independents to be recommended and nominated by the Company’s board of directors for election by the Company’s stockholders at each annual meeting, (ii) each committee of the Company’s board of directors, except any committee formed with authority and jurisdiction over the review and approval of conflicts of interest involving the Brookfield Investor and its affiliates, on the one hand, and the Company, on the other hand (a “Conflicts Committee”), is required to include at least one of the Redeemable Preferred Directors as selected by the holder of the Redeemable Preferred Share (or, if neither the Redeemable Preferred Directors satisfies all requirements applicable to such committee, with respect to independence and otherwise, of the Company’s charter, the SEC and any national securities exchange on which any shares of the Company’s stock are then listed, at least one of the Additional Independents as selected by the Company’s board of directors), and (iii) the Company will not make a general delegation of the powers of the Company’s board of directors to any committee thereof which does not include as a member a Redeemable Preferred Director, other than to a Conflicts Committee. Beginning three months after the failure of the OP to redeem Class C Units when required to do so, until all Class C Units requested to be redeemed have been redeemed, the holder of the Redeemable Preferred Share will have the right to increase the size of the Company’s board of directors by a number of directors that would result in the holder of the Redeemable Preferred Share being entitled to nominate and elect a majority of the Company’s board of directors and fill the vacancies created by the expansion of the Company’s board of directors, subject to compliance with the provisions of the Company’s charter requiring at least a majority of the Company’s directors to be “Independent Directors.” The Brookfield Investor is not permitted to transfer the Redeemable Preferred Share, except to an affiliate of the Brookfield Investor. The holder of the Redeemable Preferred Share generally votes together as a single class with the holders of the Company’s common stock at any annual or special meeting of stockholders of the Company. However, any action that would alter the terms of the Redeemable Preferred Share or the rights of its holder (including any amendment to the Company's charter, including the Articles Supplementary) is subject to a separate class vote of the Redeemable Preferred Share. In addition, the Redeemable Preferred Directors have the approval rights set forth below under “Approval Rights” pursuant to the Articles Supplementary. A&R LPA At the Initial Closing, the Brookfield Investor, the Special General Partner and the Company, in its capacity as general partner of the OP, entered into the A&R LPA. In addition to establishing the terms, rights, obligations and preferences of the Class C Units, which are set forth in more detail below, and effecting revisions and amendments related thereto, the A&R LPA also effected amendments to the Existing LPA in certain other respects, including: (i) reflecting the change in name of the OP from American Realty Capital Hospitality Operating Partnership, L.P. to Hospitality Investors Trust Operating Partnership, L.P.; (ii) removing all provisions related to Class B Units, which the Advisor received for asset management services pursuant to the Advisory Agreement prior to October 1, 2015; and (iii) removing all provisions related to the special limited partnership interest in the OP held by the Special Limited Partner (the “SLP Interest”), pursuant to which the Special Limited Partner was entitled to receive the subordinated participation in net sales proceeds, a subordinated listing distribution and a subordinated distribution upon termination of the Advisory Agreement. At the Initial Closing, pursuant to the Framework Agreement: (i) all 524,956 issued and outstanding Class B Units held by the Advisor were converted into 524,956 OP Units, and, immediately following such conversion, those 524,956 OP Units were redeemed for 524,956 shares of the Company’s common stock; (ii) all 90 OP Units held by the Advisor were redeemed for 90 shares of the Company’s common stock, which represented all the OP Units issued and outstanding prior to the Initial Closing other than the OP Units held by the Company in its capacity as the general partner of the OP corresponding to the issued and outstanding shares of the Company’s common stock; and (iii) the SLP Interest was automatically forfeited and redeemed by the OP without the payment of any consideration to the Special Limited Partner or any of its affiliates. Rank The Class C Units rank senior to the OP Units and all other equity interests in the OP with respect to priority in payment of distributions and in the distribution of assets in the event of the liquidation, dissolution or winding-up of the OP, whether voluntary or involuntary, or any other distribution of the assets of the OP among its equity holders for the purpose of winding up its affairs. Distributions Holders of Class C Units are entitled to receive, with respect to each Class C Unit, fixed, quarterly cumulative cash distributions at a rate of 7.50% per annum from legally available funds. If the Company fails to pay these cash distributions when due, the per annum rate will increase to 10% until all accrued and unpaid distributions required to be paid in cash are reduced to zero . Holders of Class C Units are also entitled to receive, with respect to each Class C Unit, a fixed, quarterly, cumulative PIK Distributions at a rate of 5% per annum payable in Class C Units. Upon the Company’s failure to redeem the Brookfield Investor when required to do so pursuant to the A&R LPA, the 5% per annum PIK Distribution rate will increase to a per annum rate of 7.50% , and would further increase by 1.25% per annum for the next four quarterly periods thereafter, up to a maximum per annum rate of 12.5% . The number of Class C Units delivered in respect of the PIK Distributions on any distribution payment date will be equal to the number obtained by dividing the amount of PIK Distribution by the Conversion Price (as defined below). The Brookfield Investor will receive tax distributions to the extent that the cash distributions are less than the tax (at the 35% rate) payable with respect to cash distributions, PIK Distributions, and any accrued but unpaid cash distributions. The Brookfield Investor will also receive tax distributions in certain limited situations in which it is allocated income as a result of converting Class C Units into OP Units but is unable to convert those OP Units into shares of the Company’s com

Schedule III - Real Estate and

Schedule III - Real Estate and Accumulated Depreciation	12 Months Ended
	Dec. 31, 2016
SEC Schedule III, Real Estate and Accumulated Depreciation Disclosure [Abstract]
Schedule III, Real Estate and Accumulated Depreciation	Initial Cost Subsequent Costs Capitalized Gross Amount at December 31, 2016 (1) Property U.S. State or Country Acquisition Debt at December 31, 2016 Land Building and Land Building and Improvements Land Building and Improvements Total Accumulated Courtyard Baltimore Downtown Inner Harbor MD 2014 (24,980 ) 4,961 34,343 — — 4,961 34,343 39,304 (2,421 ) Courtyard Providence Downtown RI 2014 (20,520 ) 4,724 29,388 — 1,247 4,724 30,635 35,359 (2,221 ) Georgia Tech Hotel and Conference Center GA 2014 — — — — — — — — — Homewood Suites Stratford CT 2014 (12,500 ) 2,377 13,875 — 1,402 2,377 15,277 17,654 (1,238 ) Westin Virginia Beach Town Center VA 2014 — — — — — — — — — Hilton Garden Inn Blacksburg VA 2014/2015 (10,500 ) — 14,107 — — — 14,107 14,107 (613 ) Courtyard Lexington South Hamburg Place KY 2015 (13,474 ) 2,766 10,242 — 38 2,766 10,280 13,046 (513 ) Courtyard Louisville Downtown KY 2015 (26,501 ) 3,727 33,543 — 9 3,727 33,552 37,279 (1,545 ) Embassy Suites Orlando International Drive Jamaican Court FL 2015 (19,449 ) 2,356 23,646 (4 ) 1,742 2,352 25,387 27,739 (1,338 ) Fairfield Inn & Suites Atlanta Vinings GA 2015 (8,305 ) 1,394 8,968 — 1,896 1,395 10,864 12,259 (647 ) Homewood Suites Chicago Downtown IL 2015 (61,659 ) 15,314 73,248 4 5,574 15,318 78,822 94,140 (4,119 ) Hyatt Place Albuquerque Uptown NM 2015 (14,773 ) 987 16,386 (1 ) 1,204 986 17,589 18,575 (862 ) Hyatt Place Baltimore Washington Airport MD 2015 (9,510 ) 3,129 9,068 2 1,297 3,131 10,365 13,496 (613 ) Hyatt Place Baton Rouge I 10 LA 2015 (10,664 ) 1,888 8,897 (1 ) 1,261 1,887 10,158 12,045 (472 ) Hyatt Place Birmingham Hoover AL 2015 (8,935 ) 956 9,689 1 133 957 9,822 10,779 (519 ) Hyatt Place Cincinnati Blue Ash OH 2015 (6,754 ) 652 7,951 (1 ) 1,520 651 9,471 10,122 (527 ) Hyatt Place Columbus Worthington OH 2015 (8,585 ) 1,063 11,319 (1 ) 201 1,063 11,520 12,583 (573 ) Hyatt Place Indianapolis Keystone IN 2015 (11,233 ) 1,918 13,935 (1 ) 1,310 1,917 15,245 17,162 (760 ) Hyatt Place Memphis Wolfchase Galleria TN 2015 (10,247 ) 971 14,505 2 105 974 14,611 15,584 (709 ) Hyatt Place Miami Airport West Doral FL 2015 (17,327 ) 2,634 17,897 1 468 2,634 18,365 20,999 (875 ) Hyatt Place Nashville Franklin Cool Springs TN 2015 (14,446 ) 2,201 15,003 2 2,150 2,202 17,154 19,356 (754 ) Hyatt Place Richmond Innsbrook VA 2015 (7,401 ) 1,584 8,013 (5 ) 1,483 1,578 9,497 11,075 (595 ) Hyatt Place Tampa Airport Westshore FL 2015 (16,425 ) 3,329 15,710 (5 ) 1,255 3,324 16,966 20,290 (835 ) Residence Inn Lexington South Hamburg Place KY 2015 (11,970 ) 2,044 13,313 — 1,990 2,044 15,303 17,347 (771 ) SpringHill Suites Lexington Near The University Of Kentucky KY 2015 (13,662 ) 3,321 13,064 — 7 3,321 13,071 16,392 (660 ) Hampton Inn Albany Wolf Road Airport NY 2015 (16,123 ) 1,717 16,572 — 80 1,717 16,652 18,369 (855 ) Hampton Inn Colorado Springs Central Airforce Academy CO 2015 (3,455 ) 449 6,322 — 14 449 6,335 6,784 (374 ) Hampton Inn Baltimore Glen Burnie MD 2015 (3,376 ) — 5,438 — 1,248 — 6,686 6,686 (748 ) Hampton Inn Beckley WV 2015 (15,440 ) 857 13,670 — 54 857 13,724 14,581 (697 ) Hampton Inn Birmingham Mountain Brook AL 2015 (8,031 ) — 9,863 — 10 — 9,873 9,873 (495 ) Hampton Inn Boca Raton FL 2015 (13,080 ) 2,027 10,420 — 2,371 2,027 12,792 14,819 (514 ) Hampton Inn Boca Raton Deerfield Beach FL 2015 (12,215 ) 2,781 9,338 — 28 2,781 9,366 12,147 (480 ) Hampton Inn Charleston Airport Coliseum SC 2015 (4,072 ) 1,768 6,586 — — 1,768 6,586 8,354 (392 ) Hampton Inn Chattanooga Airport I 75 TN 2015 (4,647 ) 1,827 5,268 — — 1,827 5,268 7,095 (390 ) Hampton Inn Chicago Gurnee IL 2015 (10,717 ) 757 12,189 — 92 757 12,281 13,038 (634 ) Hampton Inn Columbia I 26 Airport SC 2015 (5,022 ) 1,209 3,684 — 11 1,209 3,695 4,904 (278 ) Hampton Inn Columbus Dublin OH 2015 (10,518 ) 1,140 10,856 — 9 1,140 10,865 12,005 (552 ) Hampton Inn Columbus Airport GA 2015 (2,827 ) 941 1,251 — — 941 1,251 2,192 (204 ) Hampton Inn Detroit Madison Heights South Troy MI 2015 (11,679 ) 1,950 11,834 — 32 1,950 11,865 13,815 (617 ) Hampton Inn Detroit Northville MI 2015 (8,335 ) 1,210 8,591 — 205 1,210 8,795 10,005 (527 ) Hampton Inn Kansas City Overland Park KS 2015 (4,480 ) 1,233 9,210 — 129 1,233 9,339 10,572 (624 ) Hampton Inn Kansas City Airport MO 2015 (8,560 ) 1,362 9,247 — 164 1,362 9,411 10,773 (485 ) Hampton Inn Memphis Poplar TN 2015 (12,077 ) 2,168 10,618 — 66 2,168 10,684 12,852 (548 ) Hampton Inn Morgantown WV 2015 (12,893 ) 3,062 12,810 — 76 3,062 12,886 15,948 (641 ) Hampton Inn Norfolk Naval Base VA 2015 (3,786 ) — 6,873 — 2,004 — 8,876 8,876 (641 ) Hampton Inn Palm Beach Gardens FL 2015 (19,160 ) 3,253 17,724 — 2 3,253 17,726 20,979 (872 ) Hampton Inn Pickwick Dam Shiloh Falls TN 2015 (1,979 ) 148 2,089 — 26 148 2,115 2,263 (158 ) Hampton Inn Scranton Montage Mountain PA 2015 (10,787 ) 754 11,174 — 28 753 11,201 11,954 (596 ) Hampton Inn St Louis Westport MO 2015 (7,369 ) 1,359 8,486 — 29 1,359 8,515 9,874 (430 ) Hampton Inn State College PA 2015 (10,936 ) 2,509 9,359 — 68 2,509 9,427 11,936 (524 ) Hampton Inn West Palm Beach Florida Turnpike FL 2015 (16,218 ) 2,008 13,636 — 31 2,008 13,667 15,675 (674 ) Homewood Suites Hartford Windsor Locks CT 2015 (10,624 ) 3,072 8,996 — 182 3,072 9,178 12,251 (697 ) Homewood Suites Memphis Germantown TN 2015 (7,423 ) 1,024 8,871 — 2,276 1,024 11,147 12,171 (663 ) Homewood Suites Phoenix Biltmore AZ 2015 (16,877 ) — 23,722 — 2,154 — 25,875 25,875 (1,151 ) Hampton Inn & Suites Boynton Beach FL 2015 (26,922 ) 1,393 24,759 — 42 1,393 24,801 26,194 (1,213 ) Hampton Inn Cleveland Westlake OH 2015 (11,738 ) 4,177 10,002 — 9 4,176 10,011 14,187 (588 ) Courtyard Athens Downtown GA 2015 (8,683 ) 3,201 7,305 — 8 3,201 7,312 10,513 (382 ) Courtyard Gainesville FL 2015 (12,031 ) 2,904 8,605 — 137 2,904 8,742 11,646 (450 ) Courtyard Knoxville Cedar Bluff TN 2015 (10,436 ) 1,289 8,556 — 1,049 1,289 9,606 10,895 (478 ) Courtyard Mobile AL 2015 (4,899 ) — 3,657 — 1,369 — 5,027 5,027 (326 ) Courtyard Orlando Altamonte Springs Maitland FL 2015 (12,513 ) 1,716 11,463 — 24 1,716 11,488 13,204 (571 ) Courtyard Sarasota Bradenton FL 2015 (8,456 ) 1,928 8,334 — 165 1,928 8,498 10,426 (413 ) Courtyard Tallahassee North I 10 Capital Circle FL 2015 (10,230 ) 2,767 9,254 — 144 2,767 9,397 12,164 (515 ) Holiday Inn Express & Suites Kendall East Miami FL 2015 (8,745 ) 1,248 7,525 — 316 1,248 7,842 9,090 (377 ) Residence Inn Chattanooga Downtown TN 2015 (10,427 ) 1,142 10,112 — 1,405 1,142 11,517 12,659 (549 ) Residence Inn Fort Myers FL 2015 (8,365 ) 1,372 8,765 — 57 1,372 8,822 10,194 (437 ) Residence Inn Knoxville Cedar Bluff TN 2015 (10,014 ) 1,474 9,580 — 38 1,474 9,617 11,091 (518 ) Residence Inn Macon GA 2015 (4,928 ) 1,046 5,381 — 1,626 1,046 7,007 8,053 (449 ) Residence Inn Mobile AL 2015 (6,537 ) — 6,714 — 23 — 6,737 6,737 (366 ) Residence Inn Sarasota Bradenton FL 2015 (9,968 ) 2,138 9,118 — — 2,138 9,118 11,256 (484 ) Residence Inn Savannah Midtown GA 2015 (7,650 ) 1,106 9,349 — 402 1,106 9,751 10,857 (475 ) Residence Inn Tallahassee North I 10 Capital Circle FL 2015 (9,682 ) 1,349 9,983 — 1,644 1,349 11,627 12,976 (528 ) Residence Inn Tampa North I 75 Fletcher FL 2015 (8,858 ) 1,251 8,174 — 94 1,251 8,268 9,519 (462 ) Residence Inn Tampa Sabal Park Brandon FL 2015 (11,736 ) 1,773 10,830 — 39 1,773 10,869 12,642 (572 ) Courtyard Bowling Green Convention Center KY 2015 (10,868 ) 503 11,003 — 25 504 11,028 11,532 (552 ) Courtyard Chicago Elmhurst Oakbrook Area IL 2015 (9,871 ) 1,323 11,868 — 84 1,323 11,952 13,275 (1,320 ) Courtyard Jacksonville Airport Northeast FL 2015 (4,918 ) 1,783 5,459 — 1,392 1,783 6,852 8,635 (494 ) Hampton Inn & Suites Nashville Franklin Cool Springs TN 2015 (18,942 ) 2,526 16,985 — — 2,525 16,985 19,510 (880 ) Hampton Inn Boston Peabody MA 2015 (12,254 ) 3,008 11,846 — 59 3,008 11,905 14,913 (673 ) Hampton Inn Grand Rapids North MI 2015 (11,400 ) 2,191 11,502 — 67 2,191 11,569 13,760 (616 ) Homewood Suites Boston Peabody MA 2015 (8,631 ) 2,508 8,654 — 2,807 2,508 11,461 13,969 (738 ) Hyatt Place Las Vegas NV 2015 (16,951 ) 2,902 17,419 — 1,727 2,902 19,147 22,049 (1,008 ) Hyatt Place Minneapolis Airport South MN 2015 (11,517 ) 2,519 11,810 — 1,164 2,519 12,974 15,493 (644 ) Residence Inn Boise Downtown ID 2015 (8,555 ) 1,776 10,203 — 2,257 1,776 12,459 14,235 (618 ) Residence Inn Portland Downtown Lloyd Center OR 2015 (32,508 ) 25,213 23,231 — 511 25,213 23,742 48,955 (1,326 ) SpringHill Suites Grand Rapids North MI 2015 (9,952 ) 1,063 9,312 — 75 1,063 9,387 10,450 (458 ) Hyatt Place Kansas City Overland Park Metcalf KS 2015 (7,679 ) 1,038 7,792 — 1,565 1,039 9,357 10,396 (524 ) Courtyard Asheville NC 2015 (12,391 ) 2,236 10,290 — 49 2,236 10,339 12,575 (508 ) Courtyard Dallas Market Center TX 2015 (18,115 ) — 19,768 — 2,358 — 22,127 22,127 (1,081 ) Fairfield Inn & Suites Dallas Market Center TX 2015 (8,566 ) 1,550 7,236 1 19 1,552 7,256 8,808 (362 ) Hilton Garden Inn Austin Round Rock TX 2015 (12,016 ) 2,797 10,920 2 1,960 2,799 12,880 15,679 (576 ) Residence Inn Los Angeles Airport El Segundo CA 2015 (33,991 ) 16,416 21,618 13 1,856 16,429 23,474 39,903 (1,147 ) Residence Inn San Diego Rancho Bernardo Scripps Poway CA 2015 (23,251 ) 5,261 18,677 — — 5,261 18,677 23,938 (928 ) SpringHill Suites Austin Round Rock TX 2015 (8,087 ) 2,196 8,305 (1 ) 126 2,196 8,431 10,627 (436 ) SpringHill Suites Houston Hobby Airport TX 2015 (10,835 ) 762 11,755 2 103 763 11,858 12,621 (584 ) SpringHill Suites San Antonio Medical Center Northwest TX 2015 (5,272 ) — 7,161 — 911 — 8,072 8,072 (355 ) SpringHill Suites San Diego Rancho Bernardo Scripps Poway CA 2015 (19,197 ) 3,905 16,999 (3 ) 1 3,902 17,000 20,902 (840 ) Hampton Inn Charlotte Gastonia NC 2015 (9,564 ) 1,357 10,073 — 32 1,357 10,105 11,462 (513 ) Hampton Inn Dallas Addison TX 2015 (9,168 ) 1,538 7,475 — 17 1,538 7,492 9,030 (397 ) Red Lion Inn & Suites Fayetteville I 95 NC 2015 (5,307 ) 922 7,069 (257 ) (2,163 ) 664 4,906 5,570 (74 ) Homewood Suites San Antonio Northwest TX 2015 (13,720 ) 1,998 13,060 — 3,634 1,998 16,694 18,692 (784 ) Courtyard Dalton GA 2015 (7,827 ) 676 8,241 1 1,597 677 9,839 10,516 (498 ) Hampton Inn Orlando International Drive Convention Center FL 2015 (13,762 ) 1,183 14,899 — 90 1,183 14,990 16,173 (721 ) Hilton Garden Inn Albuquerque North Rio Rancho NM 2015 (9,454 ) 1,141 9,818 1 32 1,142 9,850 10,992 (513 ) Homewood Suites Orlando International Drive Convention Center FL 2015 (24,291 ) 2,182 26,507 6 946 2,187 27,452 29,639 (1,284 ) Hampton Inn Chicago Naperville IL 2015 (9,292 ) 1,363 9,460 — 9 1,363 9,469 10,832 (557 ) Hampton Inn Indianapolis Northeast Castleton IN 2015 (11,025 ) 1,587 8,144 — 49 1,587 8,193 9,780 (604 ) Hampton Inn Knoxville Airport TN 2015 (6,448 ) 1,033 5,898 — — 1,033 5,898 6,931 (413 ) Hampton Inn Milford CT 2015 (4,092 ) 1,652 5,060 — 91 1,652 5,151 6,803 (439 ) Homewood Suites Augusta GA 2015 (6,837 ) 874 8,225 — 1,552 874 9,777 10,651 (510 ) Homewood Suites Seattle Downtown WA 2015 (52,632 ) 12,580 41,011 — 4,499 12,580 45,510 58,090 (1,891 ) Hampton Inn Champaign Urbana IL 2015 (16,967 ) 2,206 17,451 — — 2,206 17,451 19,657 (844 ) Hampton Inn East Lansing MI 2015 (10,681 ) 3,219 10,101 — 205 3,219 10,306 13,525 (519 ) Hilton Garden Inn Louisville East KY 2015 (15,059 ) 1,022 16,350 1 139 1,023 16,489 17,512 (803 ) Residence Inn Jacksonville Airport FL 2015 (5,697 ) 1,451 6,423 — 2,187 1,451 8,610 10,061 (522 ) TownePlace Suites Savannah Midtown GA 2015 (10,339 ) 1,502 7,827 — — 1,502 7,827 9,329 (402 ) Courtyard Houston I 10 West Energy Corridor TX 2015 (19,536 ) 10,444 20,710 6 2,805 10,449 23,516 33,965 (1,169 ) Courtyard San Diego Carlsbad CA 2015 (18,868 ) 5,080 14,007 9 46 5,090 14,053 19,143 (725 ) Hampton Inn Austin North IH 35 & Highway 183 TX 2015 (13,782 ) 1,774 9,798 2 303 1,776 10,101 11,877 (504 ) SpringHill Suites Asheville NC 2015 (14,284 ) 2,149 9,930 — 57 2,149 9,988 12,137 (490 ) Hampton Inn College Station TX 2015 (13,873 ) 3,306 10,523 — 140 3,306 10,664 13,970 (523 ) Courtyard Flagstaff AZ 2015 (19,849 ) 5,258 24,313 — 55 5,258 24,368 29,626 (853 ) DoubleTree Baton Rouge LA 2015 (11,978 ) 1,497 14,777 — 49 1,497 14,826 16,324 (664 ) Fairfield Inn & Suites Baton Rouge South LA 2015 (3,422 ) 971 3,391 — 42 971 3,433 4,404 (170 ) Hampton Inn Medford OR 2015 (8,556 ) 1,245 10,353 — — 1,245 10,353 11,598 (365 ) Hampton Inn Fort Wayne Southwest IN 2015 (8,898 ) 1,242 10,511 — — 1,242 10,512 11,754 (425 ) Hampton Inn & Suites El Paso Airport TX 2015 (13,347 ) 1,641 18,733 — — 1,641 18,733 20,374 (713 ) Residence Inn Fort Wayne Southwest IN 2015 (10,609 ) 1,267 12,136 — 8 1,267 12,144 13,411 (429 ) SpringHill Suites Baton Rouge South LA 2015 (4,449 ) 1,131 5,744 — 44 1,131 5,788 6,919 (216 ) SpringHill Suites Flagstaff AZ 2015 (10,951 ) 1,641 14,283 — 61 1,641 14,344 15,985 (567 ) TownePlace Suites Baton Rouge South LA 2015 (4,791 ) 1,055 6,173 — 17 1,055 6,190 7,245 (257 ) Courtyard Columbus Downtown OH 2015 (21,051 ) 2,367 25,191 — 61 2,367 25,252 27,619 (726 ) Hilton Garden Inn Monterey CA 2015 (19,333 ) 6,110 27,713 — — 6,110 27,713 33,823 (1,131 ) Hyatt House Atlanta Cobb Galleria GA 2015 (21,230 ) 4,386 22,777 — 12 4,386 22,788 27,174 (673 ) Hyatt Place Chicago Schaumburg IL 2015 (6,637 ) 1,519 9,582 — 57 1,519 9,639 11,158 (414 ) Fairfield Inn & Suites Spokane WA 2016 (8,964 ) 1,732 10,750 — — 1,733 10,749 12,482 (275 ) Fairfield Inn & Suites Denver CO 2016 (11,620 ) 1,429 15,675 — — 1,430 15,675 17,105 (405 ) Springhill Suites Denver CO 2016 (8,632 ) 941 10,870 — 49 941 10,918 11,859 (310 ) Hampton Inn Ft. Collins CO 2016 (5,976 ) 641 5,578 — — 641 5,577 6,218 (176 ) Fairfield Inn & Suites Bellevue WA 2016 (22,244 ) 18,769 14,182 — — 18,769 14,182 32,951 (438 ) Hilton Garden Inn Ft. Collins CO 2016 (12,948 ) 1,331 17,606 — — 1,331 17,605 18,936 (480 ) Total $(1,709,101) $340,043 $1,756,484 $ (224 ) $82,110 $339,819 $1,838,594 $2,178,414 $(92,848) ___________________________________ (1) The tax basis of aggregate land, buildings and improvements as of December 31, 2016 is $2,138,616,972 . (2) Each of the properties has a depreciable life of: up to 40 years for buildings, up to 15 years for improvements. A summary of activity for real estate and accumulated depreciation for the years ended December 31, 2014 (1) to December 31, 2016: 2016 2015 2014 (1) Land, buildings and improvements, at cost: Balance at January 1 $ 2,047,831 $ 93,237 $ 89,666 Additions: Acquisitions 99,727 1,917,101 — Capital improvements 43,030 37,493 3,571 Deductions: Dispositions (9,744 ) — — Impairment of depreciable assets (2,430 ) — — Balance at December 31 $ 2,178,414 $ 2,047,831 $ 93,237 Accumulated depreciation and amortization: Balance at January 1 $ (39,252 ) $ (1,569 ) $ — Depreciation expense (54,377 ) (37,683 ) (1,569 ) Accumulated depreciation: Dispositions and other 781 Balance at December 31 $ (92,848 ) $ (39,252 ) $ (1,569 ) ___________________________________ (1) The change in the real estate investments for the Predecessor has not been presented because the land, building and improvements were recorded by the Predecessor at the pre-acquisition basis.

Summary of Significant Accoun25

Summary of Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2016
Accounting Policies [Abstract]
Principles of Consolidation and Basis of Presentation	Principles of Consolidation and Basis of Presentation The accompanying consolidated/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 percentage 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 consists of the Barceló Portfolio, which consists of hospitality assets and operations owned by Barceló Crestline Corporation and certain consolidated subsidiaries ("BCC") that had been maintained in various legal entities until the Company acquired them from BCC on March 21, 2014 . Historically, financial statements had not been prepared for the Predecessor as a discrete stand-alone entity. The accompanying consolidated financial statements for the Predecessor, for the period from January 1 to March 20, 2014 have been derived from the historical accounting records of BCC and reflect revenue and expenses and cash flows 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 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 purchase price allocations to record investments in real estate, the useful lives of real estate and real estate taxes, as applicable.
Real Estate Investments and Below-Market Lease	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 furniture, fixtures and equipment. 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 furniture, fixtures and equipment are based on purchase price allocation 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. 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 under GAAP 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 long-lived 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 furniture, fixtures and equipment, 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. 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 leases acquired (See Note 4 - Leases). 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 Consolidated/Combined Statements of Operations and Comprehensive Income (Loss).
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.
Assets Held for Sale (Long Lived-Assets)	Assets Held for Sale (Long Lived-Assets) When the Company initiates the sale of long-lived assets, it assesses whether the assets meet the criteria to be considered assets held for sale. The review is based on whether the following criteria are met: • Management has committed to a plan to sell the asset group; • The subject assets are available for immediate sale in their present condition; • The Company is actively locating buyers as well as other initiatives required to complete the sale; • The sale is probable and the transfer is expected to qualify for recognition as a complete sale in one year; • The long-lived asset is being actively marketed for sale at a price that is reasonable in relation to fair value; and • Actions necessary to complete the plan indicate it is unlikely significant changes will be made to the plan or the plan will be withdrawn. If all the criteria are met, a long-lived asset held for sale is measured at the lower of its carrying amount or fair value less cost to sell, and the Company will cease recording depreciation.
Cash and Cash Equivalents	Cash and Cash Equivalents Cash and cash equivalents include 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 cash flow deposits while subject 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, changes related to future debt service payments are treated as financing activities, and changes related to 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 in full 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. In April 2015, the Financial Accounting Standards Board (“FASB”) issued ASU 2015-03 Simplifying the Presentation of Debt Issuance Costs (“ASU 2015-03”), which was designed to simplify the presentation of debt issuance costs. The amendments in ASU 2015-03 require that debt issuance costs related to a recognized debt liability be presented in the balance sheet as a direct deduction from the carrying amount of that debt liability, consistent with debt discounts. Prior to application of this new guidance, the Company presented debt issuance costs as an asset on the Consolidated Balance Sheets. The recognition and measurement guidance for debt issuance costs were not affected by the amendments in ASU 2015-03. The Company adopted this ASU as of January 1, 2016 , on a retrospective basis.
Variable Interest Entities	Variable Interest Entities Accounting Standards Codification ("ASC") 810 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. 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. In February 2015, the FASB issued Accounting Standards Update 2015-02 (“ASU 2015-02”), which amended ASC 810. The amendment modifies the evaluation of whether certain legal entities are VIEs, eliminates the presumption that a general partner should consolidate a limited partnership, and affects the consolidation analysis of reporting entities that are involved with VIEs. The revised guidance was effective for fiscal years, and for interim periods within those fiscal years, beginning after December 15, 2015. The Company adopted this guidance effective January 1, 2016 . The Company has evaluated the impact of the adoption of the new guidance on its consolidated/combined financial statements and has determined the OP is considered a VIE. However, the Company meets the disclosure exemption criteria as the Company is the primary beneficiary of the VIE and the Company’s partnership interest in the OP representing the OP Units held by the Company corresponding to shares of the Company's common stock is considered a majority voting interest. As such, the new guidance did not have an impact on the Company’s consolidated/combined financial statements. The Company also has variable interests in VIEs through its investments in BSE/AH Blacksburg Hotel, LLC (the "HGI Blacksburg JV"), an entity that owns the assets of the Hilton Garden Inn Blacksburg, and an interest in TCA Block 7 Hotel, LLC (the "Westin Virginia Beach JV"), an entity that owns the assets of the Westin Virginia Beach Town Center (the "Westin Virginia Beach"). During the quarter ended June 30, 2015 , upon the acquisition of an additional equity interest in the HGI Blacksburg JV, the Company concluded that it was the primary beneficiary, with the power to direct activities that most significantly impact its economic performance, and therefore consolidated the entity in its consolidated/combined financial statements subsequent to the acquisition (See Note 3 - Business Combinations). The Company has concluded it is not the primary beneficiary with the power to direct activities that most significantly impact economic performance of the Westin Virginia Beach JV, and has therefore not consolidated the entity. The Company has accounted for the entity under the equity method of accounting and included it in investments in unconsolidated entities in the accompanying Consolidated Balance Sheets. The Company classifies the distributions from its investments in unconsolidated entities in the Consolidated Statement of Cash Flows based upon an evaluation of the specific facts and circumstances of each distribution. For example, distributions of cash generated by property operations are classified as cash flows from operating activities. However, distributions received as a result of property sales are classified as cash flows from investing activities.
Revenue Recognition	Revenue Recognition The Company recognizes hotel revenue as earned, which is generally defined as the date upon which a guest occupies a room or utilizes the hotel services.
Income Taxes	Income Taxes The Company qualified to be taxed as a REIT under Sections 856 through 860 of the Internal Revenue Code of 1986, as amended (the "Code") commencing with its tax year ended December 31, 2014 . In order to continue to qualify as a REIT, the Company must annually distribute to its stockholders 90% of its REIT taxable income (which does not equal net income as calculated in accordance with GAAP), determined without regard to the deduction for dividends paid and excluding net capital gain, and must comply with various other organizational and operational requirements. The Company generally will not be subject to federal corporate income tax on that portion of its REIT taxable income that it distributes to its stockholders. The Company 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 taxable REIT subsidiaries, which are owned by the OP. The taxable REIT subsidiaries are subject to federal, state and local income taxes. Deferred tax assets and liabilities are recognized for the estimated future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases, and for net operating loss, capital loss, and tax credit carryovers. Deferred tax assets and liabilities are measured using enacted tax rates in effect for the year in which such amounts are expected to be realized or settled. The effect on deferred tax assets and liabilities from a change in tax rates is recognized in earnings in the period when the new rate is enacted. However, deferred tax assets are recognized only to the extent that it is more likely than not that they will be realized based on consideration of available evidence, including future reversals of existing taxable temporary differences, future projected taxable income and tax planning strategies. GAAP prescribes a recognition threshold and measurement attribute for the financial statement recognition and measurement of a tax position taken in a tax return. The Company must determine whether it is "more-likely-than-not" that a tax position will be sustained upon examination, including resolution of any related appeals or litigation processes, based on the technical merits of the position. Once it is determined that a position meets the more-likely-than-not recognition threshold, the position is measured at the largest amount of benefit that is greater than 50% likely of being realized upon settlement in order to determine the amount of benefit to recognize in the financial statements. This accounting standard applies to all tax positions related to income taxes.
Earnings/Loss per Share	Earnings/Loss per Share The Company calculates basic income or loss 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 stock awards, except when doing so would be anti-dilutive. Beginning with distributions payable with respect to April 2016 and through the period from January 1, 2017 to January 13, 2017 , the date these distributions were suspended, the Company has paid cumulative distributions of 2,047,877 shares of common stock and adjusted, retroactively for all periods presented, its computation of loss per share in order to reflect this change in capital structure (See Note 8 - Common Stock).
Fair Value Measurements	Fair Value Measurements In accordance with ASC 820, Fair Value Measurement , 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.
Advertising Costs	Advertising Costs The Company expenses advertising costs for hotel operations 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.
Derivative Transactions	Derivative Transactions The Company at certain times enters into derivative instruments to hedge exposure to changes in interest rates. The Company’s derivatives as of December 31, 2016 , consist of interest rate cap agreements which it believes will help to mitigate its exposure to increasing borrowing costs under floating rate indebtedness. The Company has elected not to designate its interest rate cap agreements as cash flow hedges. The impact of the interest rate caps for the year ended December 31, 2016 , was immaterial to the consolidated/combined financial statements.
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 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 May 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 to 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 standard permits the use of either the retrospective or cumulative effect transition method. In April 2015, the FASB proposed an accounting standards update for ASU 2014-09 for the deferral of the effective date of ASU 2014-09. This proposal defers the effective date of ASU 2014-09 from annual reporting periods beginning after December 15, 2016, back one year, to annual reporting periods beginning after December 15, 2017 for all public business entities, certain not-for-profit entities, and certain employee benefit plans. Early application of ASU 2014-09 is permitted as of annual reporting periods beginning after December 15, 2016, including interim reporting periods within that reporting period. In April and May 2016, two amendments ("ASU 2016-10" and "ASU 2016-12") were made in which guidance related to accounting for revenue from contracts with customers was clarified further. ASU 2016-10 provides clarity around identifying performance obligations and licensing implementation guidance. ASU 2016-12 addresses topics such as collectability criterion, presentation of sales tax, non-cash consideration, completed contracts at transition and technical corrections. There have been no adjustments to the effective date of ASU 2014-09. The Company is evaluating the effect that ASU 2014-09, ASU 2016-10 and ASU 2016-12 will have on its consolidated/combined financial statements and related disclosures. The Company has not yet selected a transition method and has not determined the effect of the standard on its ongoing financial reporting. The adoption of this ASU is not expected to have a material effect on the Company's consolidated/combined financial statements. In August 2014, the FASB issued ASU 2014-15 Disclosure of Uncertainties about an Entity’s Ability to Continue as a Going Concern (“ASU 2014-15”), which describes how an entity should assess its ability to meet obligations and sets rules for how this information should be disclosed in the financial statements. The standard provides accounting guidance that will be used along with existing auditing standards. The adoption of ASU 2014-15 becomes effective for the Company on its fiscal year ending December 31, 2016, and all subsequent annual periods. Early adoption is permitted. The adoption of ASU 2014-15 did not have a material effect on the Company's consolidated/combined financial statements. In January, 2015, the FASB issued ASU 2015-01 Simplifying Income Statement Presentation by Eliminating the Concept of Extraordinary Items (“ASU 2015-01”), which eliminates from GAAP the concept of extraordinary items. Subtopic 225-20, Income Statement-Extraordinary and Unusual Items, required that an entity separately classify, present, and disclose extraordinary events and transactions. The adoption of ASU 2015-01 becomes effective for the Company on its fiscal year ending December 31, 2016, and all subsequent annual and interim periods. Early adoption is permitted. The adoption of ASU 2015-01 did not have a material effect on the Company’s consolidated/combined financial statements. In September 2015, the FASB issued ASU 2015-16 Business Combinations ("ASU 2015-16"), which require that an acquirer recognize adjustments to provisional amounts that are identified during the measurement period in the reporting period in which the adjustment amounts are determined. ASU 2015-16 also requires the acquirer to record in the same period's financial statements, the effect on earnings of changes in depreciation, amortization, or other income effects as a result of the change to the acquisition date. Finally, this ASU requires an entity to present separately on the face of the income statement or disclose in the notes the portion of the amount recorded in current-period earnings by line item that would have been recorded in previous reporting periods if the adjustment to the provisional amounts had been recognized as of the acquisition date. The new standard is effective for the Company on January 1, 2016, including interim periods within that fiscal year. Early application is permitted. The adoption of ASU 2015-16 did not have a material effect on the Company’s consolidated/combined financial statements. In February 2016, the FASB issued ASU 2016-02 Leases ("ASU 2016-02"), which requires an entity to separate lease components from nonlease components in a contract. ASU 2016-02 provides more guidance on how to identify and separate components than did previous GAAP. ASU 2016-02 requires lessees to recognize assets and liabilities arising from operating leases on the balance sheet. This amendment has not fundamentally changed lessor accounting, however some changes have been made to align and conform to the lessee guidance. The adoption of ASU 2016-02 becomes effective for the Company for the fiscal year beginning after December 15, 2018, and all subsequent annual and interim periods. Upon adoption, the Company will be required to recognize its operating leases, which are primarily comprised of one operating lease with respect to the Georgia Tech Hotel & Conference Center and nine ground leases, as liabilities on the Consolidated Balance Sheets. Early adoption is permitted. In March 2016, the FASB issued ASU 2016-07 Investments—Equity Method and Joint Ventures ("ASU 2016-07"), which requires that an equity method investor add the cost of acquiring the additional interest in the investee to the current basis of the investor's previously held interest and adopt the equity method of accounting as of the date the investment becomes qualified for equity method accounting. Therefore, upon qualifying for the equity method of accounting, no retroactive adjustment of the investment is required. The adoption of ASU 2016-07 becomes effective for the Company for the fiscal year beginning after December 15, 2016, and all subsequent annual and interim periods. Early adoption is permitted. The adoption of ASU 2016-07 is not expected to have a material effect on the Company’s consolidated/combined financial statements. In March 2016, the FASB issued ASU 2016-09 Compensation—Stock Compensation ("ASU 2016-09"), which requires that all excess tax benefits and all tax deficiencies should be recognized as income tax expense or benefits in the income statement. These benefits and deficiencies are discrete items in the reporting period in which they occur. An entity should not consider these benefits or deficiencies in determining the annual estimated tax rate. The adoption of ASU 2016-09 becomes effective for the Company for the fiscal year beginning after December 15, 2016, and all subsequent annual and interim periods. Early adoption is permitted. The adoption of ASU 2016-09 is not expected to have a material effect on the Company’s consolidated/combined financial statements. In August 2016, the FASB issued ASU 2016-15 Statement of Cash Flows—Classification of Certain Cash Receipts and Cash Payments ("ASU 2016-15"), which addresses the presentation and classification of certain cash flow receipts and payments. The adoption of ASU 2016-15 becomes effective for the Company for the fiscal year beginning after December 15, 2017, and all subsequent annual and interim periods. The adoption of ASU 2016-15 is not expected to have a material effect on the Company's consolidated/combined financial statements.

Summary of Significant Accoun26

Summary of Significant Accounting Policies (Tables)	12 Months Ended
	Dec. 31, 2016
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 Consolidated Balance Sheets, and are as follows (in thousands): December 31, 2016 December 31, 2015 Trade receivables $ 6,238 $ 5,848 Allowance for doubtful accounts (434 ) (697 ) Trade receivables, net of allowance $ 5,804 $ 5,151

Business Combinations (Tables)

Business Combinations (Tables)	12 Months Ended
	Dec. 31, 2016
Business Combinations [Abstract]
Schedule of Business Acquisitions	The following table presents the allocation of the assets acquired and liabilities assumed by the Company on February 27, 2015 (in thousands): Assets acquired and liabilities assumed February 27, 2015 Land $ 274,512 Buildings and improvements 1,391,695 Below-market lease obligation, net 2,605 Furniture, fixtures and equipment 127,954 Prepaid expenses and other assets 8,247 Accounts payable and accrued expenses (5,002 ) Total operating assets acquired, net 1,800,011 Seller financing of real estate investments (1,351,282 ) Total assets acquired, net $ 448,729 The following table presents the allocation of the assets acquired and liabilities assumed by the Company on October 15, 2015 (in thousands): Assets acquired and liabilities assumed October 15, 2015 Land $ 16,949 Buildings and improvements 120,414 Furniture, fixtures and equipment 12,706 Accounts payable and accrued expenses (1,042 ) Total operating assets acquired, net 149,027 SN Term Loan (96,850 ) Total assets acquired, net $ 52,177

Leases (Tables)

Leases (Tables)	12 Months Ended
	Dec. 31, 2016
Leases [Abstract]
Schedule of Future Minimum Lease Payments for Operating Leases	The following table summarizes the Company's future minimum rental commitments under these leases (in thousands): Minimum Rental Commitments Amortization of Below Market Lease Intangible to Rent Expense Year ended December 31, 2017 $ 5,210 $ 398 Year ended December 31, 2018 5,217 398 Year ended December 31, 2019 5,227 398 Year ended December 31, 2020 5,265 398 Year ended December 31, 2021 5,271 398 Thereafter 81,743 7,836 Total $ 107,933 $ 9,826

Mortgage Notes Payable (Tables)

Mortgage Notes Payable (Tables)	12 Months Ended
	Dec. 31, 2016
Debt Disclosure [Abstract]
Schedule of Long-term Debt Instruments	The Company’s mortgage notes payable as of December 31, 2016 and December 31, 2015 consist of the following, respectively (in thousands): Outstanding Mortgage Notes Payable Encumbered Properties December 31, 2016 December 31, 2015 Interest Rate Payment Maturity Baltimore Courtyard & Providence Courtyard $ 45,500 $ 45,500 4.30% Interest Only, Principal paid at Maturity April 2019 Hilton Garden Inn Blacksburg Joint Venture 10,500 10,500 4.31% Interest Only, Principal paid at Maturity June 2020 Assumed Grace Mortgage Loan - 95 properties in Grace Portfolio 793,647 801,430 LIBOR plus 3.31% Interest Only, Principal paid at Maturity May 2017, subject to two, one year extension rights Assumed Grace Mezzanine Loan - 95 properties in Grace Portfolio 101,794 102,550 LIBOR plus 4.77% Interest Only, Principal paid at Maturity May 2017, subject to two, one year extension rights Refinanced Additional Grace Mortgage Loan - 20 properties in Grace Portfolio and one additional property 232,000 232,000 4.96% Interest Only, Principal paid at Maturity October 2020 SN Term Loan -20 properties in Summit and Noble Portfolios (1) 235,484 165,100 LIBOR plus between 3.25% and 3.75% Interest Only, Principal paid at Maturity August 2018, subject to two, one year extension rights Total Mortgage Notes Payable $ 1,418,925 $ 1,357,080 Less: Deferred Financing Fees $ 8,000 $ 16,047 Total Mortgage Notes Payable, Net $ 1,410,925 $ 1,341,033 (1) On January 12, 2017, the Company amended this loan and entered into a related additional loan with Summit. See Note17 - Subsequent Events.

Promissory Notes Payable (Table

Promissory Notes Payable (Tables)	12 Months Ended
	Dec. 31, 2016
Debt Disclosure [Abstract]
Schedule of Promissory Notes	The Company’s promissory notes payable as of December 31, 2016 and December 31, 2015 were as follows (in thousands): Outstanding Promissory Notes Payable Note Payable December 31, 2016 December 31, 2015 Interest Rate Summit Loan Promissory Note $ 23,405 $ — 13.0 % Less: Deferred Financing Fees, Net $ 25 $ — Promissory Notes Payable, Net $ 23,380 $ —

Accounts Payable and Accrued 31

Accounts Payable and Accrued Expenses (Tables)	12 Months Ended
	Dec. 31, 2016
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): December 31, 2016 December 31, 2015 Trade accounts payable and accrued expenses $ 55,489 $ 57,472 Contingent consideration from Barceló Portfolio (See Note 10 - Commitments and Contingencies) 4,619 3,164 Hotel accrued salaries and related liabilities 8,411 6,619 Total $ 68,519 $ 67,255

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	12 Months Ended
	Dec. 31, 2016
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 (in thousands): December 31, 2016 Carrying Amount Fair Value Mortgage notes payable (1) $ 1,442,330 $ 1,439,990 (1) Carrying amount does not include that associated deferred financing fees as of December 31, 2016.

Related Party Transactions an33

Related Party Transactions and Arrangements (Tables)	12 Months Ended
	Dec. 31, 2016
Related Party Transactions [Abstract]
Schedule of Related Party Transactions	The table below presents the asset management fees, acquisition fees, acquisition cost reimbursements and financing coordination fees charged by the Advisor in connection with the operations of the Company for the year s ended December 31, 2016 , 2015 , and 2014 and the associated payable as of December 31, 2016 and December 31, 2015 , which is recorded in due to related parties on the Company's Consolidated Balance Sheets (in thousands): Year Ended December 31 Payable as of 2016 2015 2014 December 31, 2016 December 31, 2015 Asset management fees $ 18,004 $ 4,097 $ — $ 8 $ 1,190 Acquisition fees $ 1,624 $ 31,068 $ 1,598 $ — $ — Acquisition cost reimbursements $ 108 $ 2,066 $ — $ — $ — Financing coordination fees $ 206 $ 16,994 $ 815 $ — $ — $ 19,942 $ 54,225 $ 2,413 $ 8 $ 1,190 The table below shows compensation and reimbursements incurred and payable to the Advisor and its affiliates for services relating to the Offering during the year ended December 31, 2016 , the year ended December 31, 2015 , and the year ended December 31, 2014 , and the associated amounts payable as of December 31, 2016 and December 31, 2015 , which is recorded in due to related parties on the Company’s Consolidated Balance Sheets (in thousands). Year Ended December 31 Payable as of 2016 2015 2014 December 31, 2016 December 31, 2015 Total compensation and reimbursement for services provided by the Advisor and its affiliates related to the Offering (1) $ — $ 15,007 $ 3,915 $ 447 $ 787 ( 1) Included in the table above for the year ended December 31, 2015 , were certain reimbursements incurred and payable to the Advisor and its affiliates for services of approximately $0.8 million that were reflected in general and administrative expenses on the accompanying consolidated/combined statements of operations and comprehensive income (loss). The table below represents reimbursements to the Advisor for the year ended December 31, 2016 , the year ended December 31, 2015 , and the year ended December 31, 2014 , and the associated payable as of December 31, 2016 and December 31, 2015 , which is recorded in due to related parties on the Company's Consolidated Balance Sheets (in thousands): Year Ended December 31 Payable as of 2016 2015 2014 December 31, 2016 December 31, 2015 Total general and administrative expense reimbursement for services provided by the Advisor $ 2,442 $ — $ — $ 522 $ 72 The table below shows the management fees (including incentive fees described above) and reimbursable expenses incurred by the Company from Crestline or the Property Manager (and not payable to a third party sub-property manager) during the year ended December 31, 2016 , the year ended December 31, 2015 , and the year ended December 31, 2014 respectively, and the associated payable as of December 31, 2016 and December 31, 2015 (in thousands): Year Ended December 31 Payable as of 2016 2015 2014 December 31, 2016 December 31, 2015 Total management fees and reimbursable expenses incurred from Crestline $ 16,181 $ 9,898 $ 2,579 $ 1,306 $ 1,106 Total management fees incurred from Property Manager $ 8,459 $ 6,816 $ 262 $ 532 $ 3,553 Total $ 24,640 $ 16,714 $ 2,841 $ 1,838 $ 4,659 The Company paid Crestline interest on the Property Improvement Plan Promissory Note of $1.8 million (see Note 6 - Promissory Notes Payable). In the second quarter ended June 30, 2015 , the Company repaid in full the Property Improvement Plan Promissory Note. The table below shows the interest expense incurred by the Company during the year ended December 31, 2016 , December 31, 2015 and the year ended December 31, 2014 , respectively, and the associated payable as of December 31, 2016 and December 31, 2015 , which is recorded in due to affiliates on the consolidated balances sheets (in thousands): Year Ended December 31 Payable as of 2016 2015 2014 December 31, 2016 December 31, 2015 Interest payment related to the Property improvement plan promissory note $ — $ 21 $ 63 $ — $ — The table below shows the commissions and fees incurred from and payable to the Former Dealer Manager for the Offering during the year ended December 31, 2016 , 2015 , 2014 and the associated payable as of December 31, 2016 and December 31, 2015 , which is recorded in due to related parties on the Company's Consolidated Balance Sheets (in thousands): Year Ended December 31 Payable as of 2016 2015 2014 December 31, 2016 December 31, 2015 Total commissions and fees incurred from the Former Dealer Manager $ 71 $ 61,079 $ 24,099 $ — $ 1 The table below presents the Class B Units distribution expense for the year ended December 31, 2016 , December 31, 2015 , and December 31, 2014 respectively and the associated payable as of December 31, 2016 and December 31, 2015 , which is recorded in due to related parties on the Company's Consolidated Balance Sheets (in thousands): Year Ended December 31 Payable as of 2016 2015 2014 December 31, 2016 December 31, 2015 Class B Units distribution expense $ 830 $ 419 $ 18 $ 65 $ 92

Income Taxes (Tables)

Income Taxes (Tables)	12 Months Ended
	Dec. 31, 2016
Income Tax Disclosure [Abstract]
Schedule of Components of Income Tax Expense (Benefit)	The components of income tax expense for the years ended December 31, 2016 , December 31, 2015 and December 31, 2014 are presented in the following table, in thousands. Year Ended December 31, 2016 2015 2014 Current: Federal $ 994 $ 2,664 $ 633 State 48 549 91 Total $ 1,042 $ 3,213 $ 724 Deferred: Federal $ 308 $ (98 ) $ (116 ) State 21 (9 ) (17 ) Total 329 (107 ) (133 ) Income tax expense $ 1,371 $ 3,106 $ 591
Schedule of Effective Income Tax Rate Reconciliation	A reconciliation of the statutory federal income tax benefit of the Company's income tax expense is presented in the following table, in thousands. Year Ended December 31, 2016 2015 2014 Statutory federal income tax benefit $ (23,991 ) $ (31,121 ) $ (4,845 ) Effect of non-taxable REIT loss 25,266 33,720 5,361 State income tax expense, net of federal tax benefit 96 507 73 Other — — 2 Income tax expense $ 1,371 $ 3,106 $ 591
Schedule of Deferred Tax Assets and Liabilities	The tax effect of each type of temporary difference and carryforward, that gives rise to the deferred tax assets and liabilities for the year ended December 31, 2016 , December 31, 2015 and December 31, 2014 are presented in the following table, in thousands. Year Ended December 31, 2016 2015 2014 Deferred tax asset: Employee-related compensation $ — $ — $ — Other — 86 11 Net operating losses — 186 — Total Deferred Tax Assets $ — $ 272 $ 11 Deferred tax liability: Investments in unconsolidated joint ventures $ (59 ) $ (32 ) $ (30 ) Other (30 ) — — Total deferred tax liability (89 ) (32 ) (30 ) Net deferred tax asset $ (89 ) $ 240 $ (19 )

Sale of Hotel (Tables)

Sale of Hotel (Tables)	12 Months Ended
	Dec. 31, 2016
Real Estate [Abstract]
Disposal Groups, Including Discontinued Operations	The net carrying value of the sold hotel consisted of the following (in thousands): December 31, 2016 Land $ 2,675 Buildings and improvements 7,069 Furniture, fixtures and equipment 1,450 Carrying Value 11,194 Less: Accumulated Depreciation (1,023 ) Net Carrying Value $ 10,171

Quarterly Results (Unaudited) (

Quarterly Results (Unaudited) (Tables)	12 Months Ended
	Dec. 31, 2016
Quarterly Financial Information Disclosure [Abstract]
Schedule of Quarterly Financial Information	Presented below is a summary of the unaudited quarterly financial information for the years ended December 31, 2016 and December 31, 2015: Quarters Ended (In thousands, except for share amounts) March 31, 2016 June 30, 2016 September 30, 2016 December 31, 2016 Total revenues $ 135,153 $ 163,230 $ 161,458 $ 139,751 Net income (loss) attributable to stockholders $ (43,957 ) $ (7,024 ) $ (6,684 ) $ (14,582 ) Basic and Diluted weighted average shares outstanding 38,571,410 38,776,850 38,788,041 38,794,215 Basic and Diluted net income (loss) per share $ (1.14 ) $ (0.18 ) $ (0.17 ) $ (0.38 ) Quarters Ended (In thousands, except for share amounts) March 31, 2015 June 30, 2015 September 30, 2015 December 31, 2015 Total revenues $ 54,826 $ 133,490 $ 132,852 125,016 Net income (loss) attributable to stockholders $ (39,976 ) $ 438 $ (5,082 ) $ (50,206 ) Basic weighted average shares outstanding 15,059,550 19,038,201 27,124,227 32,775,258 Diluted weighted average shares outstanding 15,059,550 19,072,777 27,124,227 32,775,258 Basic and Diluted net income (loss) per share $ (2.65 ) $ 0.02 $ (0.18 ) $ (1.53 )

Organization - Narrative (Detai

Organization - Narrative (Details)	Mar. 31, 2017USD ($)$ / sharesshares	Jan. 13, 2017$ / shares	Dec. 31, 2016USD ($)hotel_roomstatehotel$ / sharesshares	Jul. 01, 2016$ / shares	Mar. 31, 2016shares	Dec. 31, 2015USD ($)$ / sharesshares	Jan. 07, 2014$ / sharesshares
Class of Stock [Line Items]
Number of properties (hotel) | hotel			141
Number of guest rooms (hotel room) | hotel_room			17,193
Number of states in which entity operates (state) | state			32
Common stock, authorized (shares) | shares			300,000,000			300,000,000	80,000,000
Common stock, par value (usd per share)			$ 0.01			$ 0.01
Share price (in dollars per share)			$ 22.50
Estimated Per-Share NAV (usd per share)				$ 21.48
Common stock, outstanding (shares) | shares			38,493,430		36,636,016	36,300,777
Preferred stock, par value (usd per share)			$ 0.01			$ 0.01
Gross proceeds including shares issued under DRIP | $			$ 913,000,000			$ 902,900,000
Sub-Property Manager | United States
Class of Stock [Line Items]
Number of hotels managed by third-party sub-property managers | hotel			70
Number of hotel rooms managed by third-party sub-property managers | hotel_room			7,757
Crestline Hotels and Resorts, LLC | Affiliated Entity | United States
Class of Stock [Line Items]
Number of hotels managed by Crestline | hotel			71
Number of hotel rooms managed by Crestline | hotel_room			9,436
Crestline Hotels and Resorts, LLC | United States
Class of Stock [Line Items]
Number of states in which entity operates (state) | state			28
Number of hotels | hotel			105
Number of hotel rooms | hotel_room			15,552
Subsequent Event
Class of Stock [Line Items]
Period of automatic renewal under transition services agreement	90 days
Period of extended support	30 days
Class C Units | Subsequent Event
Class of Stock [Line Items]
Cash distribution, percent per year	7.50%
Cash distribution, potential increased rate	10.00%
Cash dividend | $	$ 0
PIK distribution, percent per year	5.00%
PIK distribution, potential increased rate	7.50%
PIK distribution, additional increase in rate per quarter	1.25%
PIK distribution, maximum percent per year	12.50%
Class C Units | Subsequent Event | Brookfield Investor
Class of Stock [Line Items]
Liquidation preference | $	$ 100,000,000
Class C Units | Subsequent Event | Hospitality Investors Trust Operating Partnership, L.P.
Class of Stock [Line Items]
Unredeemable liquidation preference per share	$ 0.10
Class C Units | Subsequent Event | Hospitality Investors Trust Operating Partnership, L.P. | Brookfield Investor
Class of Stock [Line Items]
Liquidation preference | $	$ 135,000,000
OP Units | Subsequent Event
Class of Stock [Line Items]
Conversion price (usd per share)	$ 14.75
Distribution reinvestment plan
Class of Stock [Line Items]
Common stock, authorized (shares) | shares							21,052,631
SPA | Subsequent Event
Class of Stock [Line Items]
Common stock, maximum cash distributions declared (usd per share)	0.525	$ 0.525
Common Stock
Class of Stock [Line Items]
Common stock, par value (usd per share)							$ 0.01
Share price (in dollars per share)							$ 25
Common Stock | Distribution reinvestment plan
Class of Stock [Line Items]
Share price (in dollars per share)			$ 23.75000
Redeemable preferred share | Subsequent Event
Class of Stock [Line Items]
Preferred stock, par value (usd per share)	0.01
Redeemable preferred share | SPA | Subsequent Event
Class of Stock [Line Items]
Preferred stock, par value (usd per share)	$ 0.01
Initial Closing | SPA | Class C Units | Subsequent Event
Class of Stock [Line Items]
Number of units issued | shares	9,152,542.37
Purchase price of units (usd per share)	$ 14.75
Value of units issued | $	$ 135,000,000
Follow-On Funding | SPA | Class C Units | Subsequent Event
Class of Stock [Line Items]
Value of units issued | $	$ 265,000,000

Summary of Significant Accoun38

Summary of Significant Accounting Policies - Narrative (Details) $ in Thousands	3 Months Ended	9 Months Ended	12 Months Ended
	Jun. 30, 2016USD ($)hotel	Jan. 13, 2017shares	Dec. 31, 2016USD ($)segmenthotellease	Dec. 31, 2015USD ($)	Dec. 31, 2014USD ($)
Summary of Significant Accounting Policies [Line Items]
Impairment charge	$ 2,400		$ 2,400
Number of impaired hotel assets (hotel) | hotel	1		1
Debt issuance costs			$ 8,000	$ 16,047
Advertising expense			$ 17,200	12,200	$ 400
Number of reportable segments | segment			1
Number of operating leases | lease			1
Number of ground leases | lease			9
Sales Revenue, Net
Summary of Significant Accounting Policies [Line Items]
Percentage of total consolidated/ combined revenues			100.00%
Minimum
Summary of Significant Accounting Policies [Line Items]
Period after which receivables are due (days)			30 days
Maximum
Summary of Significant Accounting Policies [Line Items]
Period after which receivables are due (days)			90 days
Accounting Standards Update 2015-03
Summary of Significant Accounting Policies [Line Items]
Debt issuance costs				18,800
Total Assets | Accounting Standards Update 2015-03
Summary of Significant Accounting Policies [Line Items]
Debt issuance costs				(18,800)
Mortgage Notes Payable | Accounting Standards Update 2015-03
Summary of Significant Accounting Policies [Line Items]
Debt issuance costs				16,000
Mandatorily Redeemable Preferred Securities | Accounting Standards Update 2015-03
Summary of Significant Accounting Policies [Line Items]
Debt issuance costs				$ 2,800
Building
Summary of Significant Accounting Policies [Line Items]
Useful life (years)			40 years
Land improvements
Summary of Significant Accounting Policies [Line Items]
Useful life (years)			15 years
Furniture and fixtures
Summary of Significant Accounting Policies [Line Items]
Useful life (years)			5 years
Subsequent Event | Change in EPS Calculation from Change in Capital Structure | Common Stock
Summary of Significant Accounting Policies [Line Items]
Dividends paid or declared (in shares) | shares		2,047,877

Summary of Significant Accoun39

Summary of Significant Accounting Policies - Schedule of Accounts, Notes, Loans and Financing Receivable (Details) - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2015
Accounting Policies [Abstract]
Trade receivables	$ 6,238	$ 5,848
Allowance for doubtful accounts	(434)	(697)
Trade receivables, net of allowance	$ 5,804	$ 5,151

Business Combinations - Barcelo

Business Combinations - Barcelo Portfolio (Details) $ in Thousands	Oct. 15, 2015USD ($)	Feb. 27, 2015USD ($)	Mar. 21, 2014USD ($)hotel_assethotelleased_asset	Dec. 31, 2016hotel
Business Acquisition [Line Items]
Number of properties (hotel) | hotel				141
Aggregate purchase price | $	$ 149,027	$ 1,800,011
Barcelo Acquisition
Business Acquisition [Line Items]
Number of properties (hotel) | hotel			6
Aggregate purchase price | $			$ 110,100
Number of wholly owned hotel assets | hotel_asset			3
Number of leased assets | leased_asset			1

Business Combinations - Grace A

Business Combinations - Grace Acquisition (Details) $ in Thousands	Mar. 31, 2017USD ($)	Oct. 15, 2015USD ($)	Feb. 27, 2015USD ($)hotelcompany	Apr. 30, 2015USD ($)	Dec. 31, 2016USD ($)hotel	Feb. 27, 2019USD ($)	Feb. 27, 2018USD ($)	Dec. 31, 2015USD ($)
Business Acquisition [Line Items]
Number of properties (hotel) | hotel					141
Purchase price of acquisition		$ 52,177	$ 448,729
Mandatorily redeemable preferred securities, net					$ 288,265			$ 291,796
Grace acquisition
Business Acquisition [Line Items]
Number of properties (hotel) | hotel			116
Purchase price of acquisition			$ 1,808,000
Net purchase price after adjustments			1,800,000
Cash paid for acquisition			221,700
Liabilities assumed from acquisition			904,200
Proceeds from debt			$ 227,000
Number of newly-formed LLCs | company			2
Grace acquisition | Preferred equity interests
Business Acquisition [Line Items]
Proceeds from preferred stock issued			$ 447,100
Period after closing for first distribution rate			18 months
Percent of IPO proceeds used for redemptions				35.00%
Maximum redemptions of Grace Preferred Equity Interests at par				$ 350,000
Redemption period (months)				12 months
Mandatorily redeemable preferred securities redemptions					156,900
Mandatorily redeemable preferred securities, net					$ 290,200
Percent of Grace Preferred Equity Interests outstanding required to be redeemed					50.00%
Grace Preferred Equity Interests required to be redeemed by 2018					$ 66,700
Grace Preferred Equity Interests required to be redeemed by 2019					$ 223,500
Grace acquisition | Preferred equity interests | Minimum
Business Acquisition [Line Items]
Monthly distribution rate			7.50%
Grace acquisition | Preferred equity interests | Maximum
Business Acquisition [Line Items]
Monthly distribution rate			8.00%
Grace Amendments | Subsequent Event
Business Acquisition [Line Items]
Redemption requirement	$ 242,900
Redemption of Grace Preferred Equity Interests | SPA | Grace Amendments | Subsequent Event
Business Acquisition [Line Items]
Value of units issued	$ 47,300
Scenario, Forecast | Grace Amendments
Business Acquisition [Line Items]
Redemption requirement						$ 223,500	$ 19,400

Business Combinations - HGI Bla

Business Combinations - HGI Blacksburg JV (Details) $ in Thousands	Oct. 15, 2015USD ($)	May 20, 2015USD ($)	Feb. 27, 2015USD ($)	Dec. 31, 2016hotel
Business Acquisition [Line Items]
Purchase price of acquisition | $	$ 52,177		$ 448,729
Number of properties (hotel) | hotel				141
HGI Blacksburg JV
Business Acquisition [Line Items]
Equity ownership percent		56.50%
Equity ownership percent after additional purchases		24.00%
Purchase price of acquisition | $		$ 2,200
Number of properties (hotel) | hotel				1

Business Combinations - Summit

Business Combinations - Summit Acquisition (Details) $ in Thousands	Jan. 12, 2017USD ($)hotel	Feb. 11, 2016USD ($)hotel	Dec. 29, 2015USD ($)hotel	Oct. 15, 2015USD ($)hotel	Jun. 02, 2015USD ($)closing_transactionhotel	Feb. 27, 2015USD ($)	Jun. 30, 2016USD ($)hotel	Dec. 31, 2016USD ($)hotel	Dec. 31, 2015USD ($)
Business Acquisition [Line Items]
Total assets acquired, net				$ 52,177		$ 448,729
Number of properties (hotel) | hotel								141
Acquisition deposits								$ 7,500	$ 40,504
Additional Summit Loan Agreement | Loans Payable | Subsequent Event
Business Acquisition [Line Items]
Proceeds from short-term debt	$ 3,000
Summit Portfolio
Business Acquisition [Line Items]
Number of properties expected to be acquired (hotel) | hotel					26
Number of closing transactions | closing_transaction					3
Total assets acquired, net				$ 150,100	$ 347,400
Number of properties (hotel) | hotel		6		10
Previously paid earnest money despot				$ 7,600
Proceeds from issuance of common stock, net				45,600
Number of properties no longer expected to be acquired | hotel			10
Escrow deposit forfeited			$ 9,100
Summit Portfolio | SN Term Loan | Secured Debt
Business Acquisition [Line Items]
Proceeds from debt		$ 70,400		$ 96,900
Summit Portfolio | Summit Loan | Loans Payable
Business Acquisition [Line Items]
Proceeds from short-term debt		20,000
Acquisition deposits		$ 7,500
Summit Portfolio, Second Closing
Business Acquisition [Line Items]
Number of properties expected to be acquired (hotel) | hotel		10					8
Total assets acquired, net		$ 89,100	$ 89,100				$ 77,200
Number of properties no longer expected to be acquired | hotel							2
Acquisition deposits		7,500
Summit Portfolio, Third Closing
Business Acquisition [Line Items]
Total assets acquired, net		108,300
Previously paid money deposit		18,500
Summit Portfolio, Third Closing | SN Term Loan | Secured Debt
Business Acquisition [Line Items]
Proceeds from debt		70,400
Summit Portfolio, Third Closing | Summit Loan
Business Acquisition [Line Items]
Proceeds from short-term debt		$ 20,000
Summit Portfolio, Second Closing, First Seven Hotels | Subsequent Event
Business Acquisition [Line Items]
Number of properties expected to be acquired (hotel) | hotel	7
Total assets acquired, net	$ 66,800
Summit Portfolio, Second Closing, First Seven Hotels | Additional Summit Loan Agreement | Subsequent Event
Business Acquisition [Line Items]
Number of properties expected to be acquired (hotel) | hotel	7
Summit Portfolio, Second Closing, Eighth Hotel | Subsequent Event
Business Acquisition [Line Items]
Total assets acquired, net	$ 10,500

Business Combinations - Noble A

Business Combinations - Noble Acquisitions (Details) $ in Thousands	Jan. 25, 2016USD ($)hotel	Dec. 02, 2015USD ($)hotel	Nov. 02, 2015USD ($)hotel	Oct. 15, 2015USD ($)	Jun. 15, 2015USD ($)closing_transactionhotel	Feb. 27, 2015USD ($)	Dec. 31, 2016hotel
Business Acquisition [Line Items]
Total assets acquired, net				$ 52,177		$ 448,729
Number of properties (hotel) | hotel							141
Noble Portfolio
Business Acquisition [Line Items]
Number of properties expected to be acquired (hotel) | hotel					13
Number of closing transactions | closing_transaction					4
Total assets acquired, net		$ 59,000	$ 48,600		$ 300,000
Number of properties (hotel) | hotel		2	2
Previously paid earnest money despot		$ 4,400	$ 3,600
Proceeds from issuance of common stock, net		12,300	19,000
Number of properties no longer expected to be acquired | hotel	9
Escrow deposit forfeited	$ 22,000
Noble Portfolio | Secured Debt | SN Term Loan
Business Acquisition [Line Items]
Proceeds from debt		$ 42,300	$ 26,000

Business Combinations - Prelimi

Business Combinations - Preliminary Allocation of Assets Acquired and Liabilities Assumed (Details) - USD ($) $ in Thousands	Oct. 15, 2015	Feb. 27, 2015
Business Combinations [Abstract]
Land	$ 16,949	$ 274,512
Buildings and improvements	120,414	1,391,695
Below-market lease obligation, net		2,605
Furniture, fixtures and equipment	12,706	127,954
Prepaid expenses and other assets		8,247
Accounts payable and accrued expenses	(1,042)	(5,002)
Total operating assets acquired, net	149,027	1,800,011
SN Term Loan	(96,850)
Seller financing of real estate investments		(1,351,282)
Total assets acquired, net	$ 52,177	$ 448,729

Leases - Narrative (Details)

Leases - Narrative (Details) $ in Millions	12 Months Ended
	Dec. 31, 2016USD ($)lease	Dec. 31, 2015USD ($)	Dec. 31, 2014USD ($)
Leases [Abstract]
Number of operating leases | lease	1
Number of ground leases | lease	9
Amortization of below-market lease intangibles | $	$ 0.4	$ 0.4	$ 0.3
Rent expense | $	$ 6.3	$ 5.8	$ 4.8

Leases - Schedule of Future Min

Leases - Schedule of Future Minimum Lease Payments for Operating Leases (Details) $ in Thousands	Dec. 31, 2016USD ($)
Minimum Rental Commitments
Year ended December 31, 2017	$ 5,210
Year ended December 31, 2018	5,217
Year ended December 31, 2019	5,227
Year ended December 31, 2020	5,265
Year ended December 31, 2021	5,271
Thereafter	81,743
Total	107,933
Amortization of Below Market Lease Intangible to Rent Expense
Year ended December 31, 2017	398
Year ended December 31, 2018	398
Year ended December 31, 2019	398
Year ended December 31, 2020	398
Year ended December 31, 2021	398
Thereafter	7,836
Total	$ 9,826

Mortgage Notes Payable - Schedu

Mortgage Notes Payable - Schedule of Long-term Debt Instruments (Details) $ in Thousands	Feb. 27, 2015hotel	Dec. 31, 2016USD ($)hotelpropertyextension	Dec. 31, 2015USD ($)
Debt Instrument [Line Items]
Mortgage Notes Payable		$ 1,418,925	$ 1,357,080
Less: Deferred Financing Fees		8,000	16,047
Total Mortgage Notes Payable, Net		$ 1,410,925	1,341,033
Number of properties (hotel) | hotel		141
Grace acquisition
Debt Instrument [Line Items]
Number of properties (hotel) | hotel	116
London interbank offered rate (LIBOR) | Grace acquisition
Debt Instrument [Line Items]
Basis spread on variable rate	3.47%
Mortgage note payable | Grace Mortgage Loan
Debt Instrument [Line Items]
Mortgage Notes Payable		$ 793,647	801,430
Number of extension rights | extension		2
Extension right term (years)		1 year
Mortgage note payable | Grace Mortgage Loan | Grace acquisition
Debt Instrument [Line Items]
Number of properties (hotel) | property		95
Mortgage note payable | Grace Mortgage Loan | London interbank offered rate (LIBOR)
Debt Instrument [Line Items]
Basis spread on variable rate		3.31%
Mortgage note payable | Grace Mezzanine Loan
Debt Instrument [Line Items]
Mortgage Notes Payable		$ 101,794	102,550
Number of extension rights | extension		2
Extension right term (years)		1 year
Mortgage note payable | Grace Mezzanine Loan | Grace acquisition
Debt Instrument [Line Items]
Number of properties (hotel) | property		95
Mortgage note payable | Grace Mezzanine Loan | London interbank offered rate (LIBOR)
Debt Instrument [Line Items]
Basis spread on variable rate		4.77%
Mortgage note payable | New Additional Grace Mortgage Loan
Debt Instrument [Line Items]
Mortgage Notes Payable		$ 232,000	232,000
Interest rate (percent)		4.96%
Number of properties (hotel) | property		1
Mortgage note payable | New Additional Grace Mortgage Loan | Grace acquisition
Debt Instrument [Line Items]
Number of properties (hotel) | property		20
Mortgage note payable | SN Term Loan
Debt Instrument [Line Items]
Mortgage Notes Payable		$ 235,484	165,100
Number of extension rights | extension		2
Extension right term (years)		1 year
Mortgage note payable | SN Term Loan | SWN Acquisitions
Debt Instrument [Line Items]
Number of properties (hotel) | property		20
Mortgage note payable | SN Term Loan | London interbank offered rate (LIBOR) | Minimum
Debt Instrument [Line Items]
Basis spread on variable rate		3.25%
Mortgage note payable | SN Term Loan | London interbank offered rate (LIBOR) | Maximum
Debt Instrument [Line Items]
Basis spread on variable rate		3.75%
Mortgage note payable | Baltimore Courtyard & Providence Courtyard
Debt Instrument [Line Items]
Mortgage Notes Payable		$ 45,500	45,500
Interest rate (percent)		4.30%
Mortgage note payable | Hilton Garden Inn Blacksburg Joint Venture
Debt Instrument [Line Items]
Mortgage Notes Payable		$ 10,500	$ 10,500
Interest rate (percent)		4.31%

Mortgage Notes Payable - Narrat

Mortgage Notes Payable - Narrative (Details)	Feb. 11, 2016USD ($)	Dec. 02, 2015USD ($)	Nov. 02, 2015USD ($)	Oct. 31, 2015	Oct. 15, 2015USD ($)extension	Feb. 27, 2015USD ($)extension	Dec. 31, 2016USD ($)	Dec. 31, 2015USD ($)	Dec. 31, 2014USD ($)	Jul. 01, 2016USD ($)	Oct. 06, 2015
Grace acquisition
Debt Instrument [Line Items]
Proceeds from debt						$ 227,000,000
Grace acquisition | London interbank offered rate (LIBOR)
Debt Instrument [Line Items]
Basis spread on variable rate						3.47%
Mortgage note payable
Debt Instrument [Line Items]
Interest expense							$ 60,100,000	$ 43,100,000	$ 2,100,000
Mortgage note payable | New Additional Grace Mortgage Loan
Debt Instrument [Line Items]
Interest rate (percent)							4.96%
Mortgage note payable | SN Term Loan | Minimum | London interbank offered rate (LIBOR)
Debt Instrument [Line Items]
Basis spread on variable rate							3.25%
Mortgage note payable | SN Term Loan | Maximum | London interbank offered rate (LIBOR)
Debt Instrument [Line Items]
Basis spread on variable rate							3.75%
Mortgage note payable | Baltimore Courtyard & Providence Courtyard
Debt Instrument [Line Items]
Interest rate (percent)							4.30%
Mortgage note payable | Hilton Garden Inn Blacksburg Joint Venture
Debt Instrument [Line Items]
Interest rate (percent)							4.31%
Mezzanine Mortgage | Grace acquisition
Debt Instrument [Line Items]
Number of one-year extension rights | extension						2
Mezzanine Mortgage | Grace acquisition | London interbank offered rate (LIBOR)
Debt Instrument [Line Items]
Basis spread on variable rate						4.77%
Secured Debt | Grace acquisition | London interbank offered rate (LIBOR)
Debt Instrument [Line Items]
Basis spread on variable rate						3.31%
Secured Debt | New Additional Grace Mortgage Loan
Debt Instrument [Line Items]
Interest rate (percent)											4.96%
Secured Debt | SN Term Loan
Debt Instrument [Line Items]
Number of one-year extension rights | extension					2
Amount of loan	$ 293,400,000				$ 450,000,000					$ 235,500,000
General and administrative expenses	3,000,000
Percentage less of spread				0.50%
Debt term (years)					3 years
Amortization rate if extension option is exercised					2.50%
Secured Debt | SN Term Loan | Minimum | Eurodollar
Debt Instrument [Line Items]
Basis spread on variable rate					3.25%
Secured Debt | SN Term Loan | Minimum | Base Rate
Debt Instrument [Line Items]
Basis spread on variable rate					2.25%
Secured Debt | SN Term Loan | Maximum | Eurodollar
Debt Instrument [Line Items]
Basis spread on variable rate					3.75%
Secured Debt | SN Term Loan | Maximum | Base Rate
Debt Instrument [Line Items]
Basis spread on variable rate					2.75%
Secured Debt | SN Term Loan | Summit Portfolio
Debt Instrument [Line Items]
Proceeds from debt	$ 70,400,000				$ 96,900,000
Secured Debt | SN Term Loan | Noble Portfolio
Debt Instrument [Line Items]
Proceeds from debt		$ 42,300,000	$ 26,000,000

Promissory Notes Payable - Sche

Promissory Notes Payable - Schedule of Promissory Notes (Details) - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2015
Debt Instrument [Line Items]
Promissory Notes Payable	$ 1,418,925	$ 1,357,080
Less: Deferred Financing Fees	8,000	16,047
Promissory Notes Payable, Net	1,709,101
Loans Payable | Summit Loan
Debt Instrument [Line Items]
Promissory Notes Payable	23,405	0
Less: Deferred Financing Fees	25	0
Promissory Notes Payable, Net	$ 23,380	$ 0
Interest rate (percent)	13.00%

Promissory Notes Payable - Narr

Promissory Notes Payable - Narrative (Details)	Dec. 31, 2016USD ($)extension	Feb. 11, 2016USD ($)	Dec. 31, 2016USD ($)	Dec. 31, 2015USD ($)	Dec. 31, 2014USD ($)
Debt Instrument [Line Items]
Acquisition deposits	$ 7,500,000		$ 7,500,000	$ 40,504,000
Summit Loan | Loans Payable
Debt Instrument [Line Items]
Amount of loan		$ 27,500,000
Interest rate (percent)	13.00%		13.00%
Interest rate, paid in cash (percent)	9.00%		9.00%
Interest rate, compounded (percent)	4.00%		4.00%
Number of extension rights | extension	2
Extension right term (years)	1 year
Increase in interest rate per extension	1.00%
Repaying of debt			$ 5,000,000
Interest expense			$ 2,900,000	$ 1,400,000	$ 3,600,000
Summit Loan | Loans Payable | Summit Portfolio
Debt Instrument [Line Items]
Proceeds from short-term debt		20,000,000
Acquisition deposits		$ 7,500,000

Accounts Payable and Accrued 52

Accounts Payable and Accrued Expenses - Schedule of Accounts Payable and Accrued Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2015
Payables and Accruals [Abstract]
Trade accounts payable and accrued expenses	$ 55,489	$ 57,472
Contingent consideration from Barcelo Portfolio	4,619	3,164
Hotel accrued salaries and related liabilities	8,411	6,619
Total	$ 68,519	$ 67,255

Common Stock - Narrative (Detai

Common Stock - Narrative (Details) - USD ($) $ / shares in Units, $ in Millions

Mar. 31, 2017

Jan. 13, 2017

Jul. 01, 2016

Feb. 03, 2014

Jul. 31, 2016

Jan. 31, 2016

Mar. 15, 2017

Jun. 30, 2016

Dec. 31, 2014

Dec. 31, 2016

Dec. 31, 2015

Mar. 31, 2016

Mar. 20, 2014

Jan. 07, 2014

Dec. 31, 2013

Class of Stock [Line Items]

Common stock, outstanding (shares)

38,493,430

36,300,777

36,636,016

Gross proceeds including shares issued under DRIP

$ 913

$ 902.9

Dividends declared per day (in dollars per share)

$ 0.000046575343

$ 0.000185792

Dividends declared per day if leap year (in dollars per share)

0.000046448087

Dividends declared per share (in dollars per share)

$ 1.46064

$ 1.7

$ 1.7000

Denominator for common stock equivalent of dividends declared (in dollars per share)

$ 21.48000

$ 23.75

Annual dividend rate

6.80%

Minimum holding period for repurchase requests

1 year

Notice period to amend, suspend or terminate SRP

30 days

Common stock, issued (shares)

38,493,430

36,300,777

Share price (in dollars per share)

$ 22.50

Common Stock

Class of Stock [Line Items]

Share price (in dollars per share)

$ 25

Common Stock | Subsequent Event

Class of Stock [Line Items]

Common stock issued through Distribution Reinvestment Plan (in shares)

315,383

SPA | Subsequent Event

Class of Stock [Line Items]

Common stock, maximum cash distributions declared (usd per share)

$ 0.525

$ 0.525

Distribution reinvestment plan

Class of Stock [Line Items]

Common stock, issued (shares)

1,226,867

828,217

Distribution reinvestment plan | Common Stock

Class of Stock [Line Items]

Share price (in dollars per share)

$ 23.75000

Share Repurchase Program (SRP) | Common Stock

Class of Stock [Line Items]

Common stock repurchases (shares)

28,264

Payments for share repurchases

$ 0.6

Price per share of repurchases (in dollars per share)

$ 23.44

Common Stock

Class of Stock [Line Items]

Common stock, outstanding (shares)

10,163,206

38,493,430

36,300,777

114,497

8,888

Common stock issued through Distribution Reinvestment Plan (in shares)

63,998

398,650

764,219

Fair Value Measurements - Fair

Fair Value Measurements - Fair Value by Balance Sheet Grouping (Details) - Mortgage notes payable - Fair Value, Inputs, Level 3 $ in Thousands	Dec. 31, 2016USD ($)
Carrying Amount
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Fair value of mortgage notes payable	$ 1,442,330
Fair Value
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Fair value of mortgage notes payable	$ 1,439,990

Fair Value Measurements - Narra

Fair Value Measurements - Narrative (Details) $ in Thousands	3 Months Ended	12 Months Ended
	Jun. 30, 2016USD ($)hotel	Dec. 31, 2016USD ($)hotel	Dec. 31, 2015USD ($)
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Impairment charge	$ 2,400	$ 2,400
Number of impaired hotel assets (hotel) | hotel	1	1
Real estate investment		$ 2,221,921	$ 2,140,699
Fair Value
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Real estate investment	$ 6,200

Commitments and Contingencies -

Commitments and Contingencies - Narrative (Details) - Barcelo Acquisition	12 Months Ended
	Dec. 31, 2016USD ($)
Other Commitments [Line Items]
Contingent consideration, minimum	$ 4,100,000
Contingent consideration, maximum	4,600,000
Increase (decrease) in contingent consideration	1,500,000
Closing consideration payable	$ 4,600,000

Related Party Transactions an57

Related Party Transactions and Arrangements - Narrative (Details) - USD ($) $ in Thousands	Mar. 31, 2017	Dec. 31, 2016	Mar. 31, 2016	Dec. 31, 2015
Related Party Transaction [Line Items]
Common stock, outstanding (shares)		38,493,430	36,636,016	36,300,777
Related party payables		$ 2,879		$ 6,546
Subsequent Event
Related Party Transaction [Line Items]
Period of automatic renewal under transition services agreement	90 days
Period of extended support	30 days
Limited Partner
Related Party Transaction [Line Items]
Common stock, outstanding (shares)		9,308
Affiliated Entity | AR Capital LLC
Related Party Transaction [Line Items]
Common stock, outstanding (shares)		23,270
Affiliated Entity | AR Global
Related Party Transaction [Line Items]
Common stock, outstanding (shares)		6,699

Related Party Transactions an58

Related Party Transactions and Arrangements - Fees Paid in Connection with the Offering - Narrative (Details) $ in Millions	12 Months Ended
	Dec. 31, 2016USD ($)
Related Party Transaction [Line Items]
Liability for initial public offering costs (percent)	2.00%
Excess amount of gross proceeds	$ 5.9
Dealer manager
Related Party Transaction [Line Items]
Sales commissions earned by related party (percent)	7.00%
Gross proceeds from the sales of common stock, before allowances (percent)	3.00%
Brokerage fees earned by related party (percent)	2.50%
Participating broker dealers
Related Party Transaction [Line Items]
Sales commissions earned by related party (percent)	7.50%
Brokerage fees earned by related party (percent)	1.00%

Related Party Transactions an59

Related Party Transactions and Arrangements - Fees Paid in Connection with the Offering (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Related Party Transaction [Line Items]
Related party payables	$ 2,879	$ 6,546
Commissions and Fees | Dealer manager
Related Party Transaction [Line Items]
Fees incurred with the offering	71	61,079	$ 24,099
Related party payables	0	1
Offering Services | Advisor and Affiliates
Related Party Transaction [Line Items]
Fees incurred with the offering	0	15,007	$ 3,915
Related party payables	$ 447	787
Offering Services | Advisor and Affiliates | General and Administrative Expense
Related Party Transaction [Line Items]
Fees incurred with the offering		$ 800

Related Party Transactions an60

Related Party Transactions and Arrangements - Fees Paid in Connection with the Operations of the Company - Narrative (Details) - USD ($)	3 Months Ended	12 Months Ended
	Jun. 30, 2015	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014	Mar. 31, 2016	Jan. 07, 2014
Related Party Transaction [Line Items]
Amended quarterly asset management fee earned (percent)		0.0625%
Quarterly asset management fee earned (percent)		0.1875%
Share price (in dollars per share)		$ 22.50
Promissory Note | Property Improvement Plan Loan
Related Party Transaction [Line Items]
Repayment of promissory note	$ 1,800,000
Common Stock
Related Party Transaction [Line Items]
Share price (in dollars per share)						$ 25
Class B Units
Related Party Transaction [Line Items]
Cumulative capital investment return (percent)		6.00%
Related party expenses		$ 830,000	$ 419,000	$ 18,000
ARC Realty Finance Advisors, LLC
Related Party Transaction [Line Items]
Real estate acquisition fee		1.50%
Real estate acquisition fee reimbursement maximum (percent)		0.10%
Annual asset management fee lower of cost of assets or net asset value (percent)		0.75%
Reimbursement costs for administrative services maximum of operating expenses (percent)		2.00%
Reimbursement costs for administrative services maximum of net income (percent)		25.00%
Advisor
Related Party Transaction [Line Items]
Maximum asset management fees payable per month					$ 500,000
Related party expenses		$ 19,942,000	54,225,000	2,413,000
Advisor | Common Stock
Related Party Transaction [Line Items]
Shares issued for services (shares)		21,187
Shares issued upon conversion (shares)		524,956
Advisor | Class B Units
Related Party Transaction [Line Items]
Shares issued for services (shares)		524,955.86
Number of shares converted (shares)		524,956
Advisor | OP Units
Related Party Transaction [Line Items]
Number of shares converted (shares)		524,956
Shares issued upon conversion (shares)		524,956
Property Manager
Related Party Transaction [Line Items]
Cumulative capital investment return (percent)		8.50%
Property management fee (percent)		4.00%
Annual incentive fee (percent)		15.00%
Related party expenses		$ 24,640,000	16,714,000	2,841,000
Property Manager | Incentive Fees
Related Party Transaction [Line Items]
Related party expenses		$ 400,000	$ 100,000	$ 100,000

Related Party Transactions an61

Related Party Transactions and Arrangements - Fees Paid in Connection with the Operations of the Company (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Related Party Transaction [Line Items]
Related party payables	$ 2,879	$ 6,546
Advisor
Related Party Transaction [Line Items]
Fees incurred with the offering	19,942	54,225	$ 2,413
Related party payables	8	1,190
Property Manager
Related Party Transaction [Line Items]
Fees incurred with the offering	24,640	16,714	2,841
Related party payables	1,838	4,659
Asset management fees | Advisor
Related Party Transaction [Line Items]
Fees incurred with the offering	18,004	4,097	0
Related party payables	8	1,190
Acquisition fees | Advisor
Related Party Transaction [Line Items]
Fees incurred with the offering	1,624	31,068	1,598
Related party payables	0	0
Acquisition cost reimbursements | Advisor
Related Party Transaction [Line Items]
Fees incurred with the offering	108	2,066	0
Related party payables	0	0
Financing coordination fees | Advisor
Related Party Transaction [Line Items]
Fees incurred with the offering	206	16,994	815
Related party payables	0	0
Total general and administrative expense reimbursement for services provided by the Advisor | Advisor
Related Party Transaction [Line Items]
Fees incurred with the offering	2,442	0	0
Related party payables	522	72
Total management fees and reimbursable expenses incurred from Crestline | Property Manager
Related Party Transaction [Line Items]
Fees incurred with the offering	16,181	9,898	2,579
Related party payables	1,306	1,106
Total management fees incurred from Property Manager | Property Manager
Related Party Transaction [Line Items]
Fees incurred with the offering	8,459	6,816	262
Related party payables	532	3,553
Interest payment related to the Property improvement plan promissory note | Property Manager
Related Party Transaction [Line Items]
Fees incurred with the offering	0	21	63
Related party payables	0	0
Class B Units
Related Party Transaction [Line Items]
Fees incurred with the offering	830	419	$ 18
Related party payables	$ 65	$ 92

Related Party Transactions an62

Related Party Transactions and Arrangements - Fees Paid in Connection with the Liquidation or Listing (Details) - USD ($)	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 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%
ARC Realty Finance Advisors, LLC | Brokerage Commission Fees
Related Party Transaction [Line Items]
Real estate commission earned by related party (percent)	2.00%
ARC Realty Finance Advisors, LLC | Brokerage Fee Commission for Third Party
Related Party Transaction [Line Items]
Real estate commission earned by related party (percent)	50.00%
ARC Realty Finance Advisors, LLC | Real Estate Commissions
Related Party Transaction [Line Items]
Real estate commission earned by related party (percent)	6.00%
Fees incurred with the offering	$ 300,000	$ 0	$ 0
Limited Partner
Related Party Transaction [Line Items]
Subordinated incentive listing distribution (percent)	15.00%
Limited Partner | Annual Targeted Investor Return
Related Party Transaction [Line Items]
Cumulative capital investment return (percent)	6.00%

Economic Dependency (Details)

Economic Dependency (Details)	Mar. 31, 2017
Subsequent Event
Subsequent Event [Line Items]
Period of automatic renewal under transition services agreement	90 days

Income Taxes - Schedule of Comp

Income Taxes - Schedule of Components of Income Tax Expense (Benefit) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Current:
Federal	$ 994	$ 2,664	$ 633
State	48	549	91
Current income tax expense (benefit)	1,042	3,213	724
Deferred:
Federal	308	(98)	(116)
State	21	(9)	(17)
Deferred income tax expense (benefit)	329	(107)	(133)
Income tax expense (benefit)	$ 1,371	$ 3,106	$ 591

Income Taxes - Schedule of Effe

Income Taxes - Schedule of Effective Income Tax Rate Reconciliation (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Income Tax Disclosure [Abstract]
Statutory federal income tax benefit	$ (23,991)	$ (31,121)	$ (4,845)
Effect of non-taxable REIT loss	25,266	33,720	5,361
State income tax expense, net of federal tax benefit	96	507	73
Other	0	0	2
Income tax expense (benefit)	$ 1,371	$ 3,106	$ 591

Income Taxes - Schedule of Defe

Income Taxes - Schedule of Deferred Tax Assets and Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Deferred tax asset:
Employee-related compensation	$ 0	$ 0	$ 0
Other	0	86	11
Net operating losses	0	186	0
Total Deferred Tax Assets	0	272	11
Deferred tax liability:
Investments in unconsolidated joint ventures	(59)	(32)	(30)
Other	(30)	0	0
Total deferred tax liability	(89)	(32)	(30)
Net deferred tax asset		$ 240
Net deferred tax asset	$ (89)		$ (19)

Income Taxes - Narrative (Detai

Income Taxes - Narrative (Details) - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2014
Income Tax Disclosure [Abstract]
Net deferred tax liability	$ 89	$ 19

Impairment of Long Lived Asse68

Impairment of Long Lived Assets (Details) $ in Thousands	3 Months Ended	12 Months Ended
	Jun. 30, 2016USD ($)hotel	Dec. 31, 2016USD ($)hotel	Dec. 31, 2015USD ($)
Real Estate [Line Items]
Number of impaired hotel assets (hotel) | hotel	1	1
Real estate investment		$ 2,221,921	$ 2,140,699
Impairment charge	$ 2,400	$ 2,400
Fair Value
Real Estate [Line Items]
Real estate investment	6,200
Carrying Amount
Real Estate [Line Items]
Real estate investment	$ 8,600

Sale of Hotel (Details)

Sale of Hotel (Details) $ in Thousands	Oct. 14, 2016USD ($)hotel	Dec. 31, 2016USD ($)	Dec. 31, 2015USD ($)
Real Estate [Line Items]
Land		$ 339,819	$ 317,871
Buildings and improvements		1,838,594	1,729,960
Furniture, fixtures and equipment		212,994	163,516
Total real estate investments		2,391,407	2,211,347
Less: accumulated depreciation and amortization		(169,486)	(70,648)
Total real estate investments, net		2,221,921	$ 2,140,699
Disposal Group, Disposed of by Sale, Not Discontinued Operations
Real Estate [Line Items]
Number of hotels sold | hotel	1
Sales price	$ 13,000
Gain on sale of hotel	2,500
Repayment of debt	8,500
Redemption of mandatorily redeemable preferred securities	$ 2,100
Land		2,675
Buildings and improvements		7,069
Furniture, fixtures and equipment		1,450
Total real estate investments		11,194
Less: accumulated depreciation and amortization		(1,023)
Total real estate investments, net		$ 10,171

Quarterly Results (Unaudited)70

Quarterly Results (Unaudited) (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended								9 Months Ended	12 Months Ended
	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2014	Dec. 31, 2016	Dec. 31, 2015
Quarterly Financial Information Disclosure [Abstract]
Total revenues	$ 139,751	$ 161,458	$ 163,230	$ 135,153	$ 125,016	$ 132,852	$ 133,490	$ 54,826
Net income (loss) attributable to stockholders	$ (14,582)	$ (6,684)	$ (7,024)	$ (43,957)	$ (50,206)	$ (5,082)	$ 438	$ (39,976)	$ (14,841)	$ (72,247)	$ (94,826)
Basic and diluted weighted average shares outstanding (shares)	38,794,215	38,788,041	38,776,850	38,571,410
Basic and diluted net loss per share (usd per share)	$ (0.38)	$ (0.17)	$ (0.18)	$ (1.14)	$ (1.53)	$ (0.18)	$ 0.02	$ (2.65)
Basic weighted average shares outstanding (shares)					32,775,258	27,124,227	19,038,201	15,059,550
Diluted weighted average shares outstanding (shares)					32,775,258	27,124,227	19,072,777	15,059,550

Subsequent Events - Securities,

Subsequent Events - Securities, Purchase, Voting and Standstill Agreement (Details) - USD ($)	Mar. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Subsequent Event [Line Items]
Preferred stock, par value (usd per share)		$ 0.01	$ 0.01
Subsequent Event | Preferred equity interests
Subsequent Event [Line Items]
Preferred stock, par value (usd per share)	$ 0.01
Subsequent Event | Class C Units
Subsequent Event [Line Items]
Funding commitment	$ 400,000,000
Subsequent Event | SPA
Subsequent Event [Line Items]
Period of upheld representations and warranties	18 months
Deductible for breaches of representation and warranties	$ 6,000,000
Deductible for breaches of representation and warranties, amount per claim	25,000
Maximum obligation for breaches of representation and warranties	$ 60,000,000
Compounded rate	5.00%
Anniversary period from initial closing subjected to standstill restrictions	63 months
Subsequent Event | SPA | Preferred equity interests
Subsequent Event [Line Items]
Preferred stock, par value (usd per share)	$ 0.01
Subsequent Event | SPA | Covered Brookfield Entities
Subsequent Event [Line Items]
Percent of common stock owned by related party to trigger standstill restrictions	5.00%
Maximum percent of common stock permitted to be acquired	15.00%
Standstill restrictions termination period	90 days
Percent of excess common stock subject to standstill	35.00%
Percent of common stock owned by related party	35.00%
Subsequent Event | SPA | Initial Closing | Redemption of Grace Preferred Equity Interests
Subsequent Event [Line Items]
Consideration on units issued	$ 47,300,000
Subsequent Event | SPA | Initial Closing | Summit Portfolio, Second Closing
Subsequent Event [Line Items]
Consideration on units issued	26,900,000
Subsequent Event | SPA | Initial Closing | PIP Funding and Lender Reserves
Subsequent Event [Line Items]
Consideration on units issued	15,000,000
Subsequent Event | SPA | Initial Closing | Summit Loan
Subsequent Event [Line Items]
Consideration on units issued	23,700,000
Subsequent Event | SPA | Initial Closing | Property Management Fees
Subsequent Event [Line Items]
Consideration on units issued	10,000,000
Subsequent Event | SPA | Initial Closing | Commitment Fee to Investor
Subsequent Event [Line Items]
Consideration on units issued	4,000,000
Subsequent Event | SPA | Initial Closing | SPA Transaction Costs
Subsequent Event [Line Items]
Consideration on units issued	2,000,000
Subsequent Event | SPA | Follow-On Funding | Brookfield Strategic Real Estate Partners II Hospitality REIT II LLC [Member]
Subsequent Event [Line Items]
Funding commitment	400,000,000
Funding commitment per transaction	$ 25,000,000
Subsequent Event | SPA | Class C Units | Initial Closing
Subsequent Event [Line Items]
Number of units issued	9,152,542.37
Purchase price of units (usd per share)	$ 14.75
Consideration on units issued	$ 135,000,000
Subsequent Event | SPA | Class C Units | First Follow-On Funding
Subsequent Event [Line Items]
Consideration on units issued	223,500,000
Subsequent Event | SPA | Class C Units | Follow-On Funding
Subsequent Event [Line Items]
Consideration on units issued	$ 265,000,000
Period of written notice to sell additional units	15 days

Subsequent Events - Framework A

Subsequent Events - Framework Agreement (Details) - Subsequent Event - Framework Agreement	Mar. 31, 2017
Subsequent Event [Line Items]
Ownership percent	40.00%
American Realty Capital Hospitality Advisors, LLC
Subsequent Event [Line Items]
Ownership percent	60.00%

Subsequent Events - Summit Agre

Subsequent Events - Summit Agreements (Details)	Sep. 30, 2017USD ($)	Aug. 31, 2017USD ($)	Jul. 31, 2017USD ($)	Jun. 30, 2017USD ($)	May 31, 2017USD ($)	Jan. 12, 2017USD ($)hotel	Oct. 15, 2015USD ($)	Feb. 27, 2015USD ($)	Sep. 30, 2017USD ($)	Dec. 31, 2016USD ($)
Subsequent Event [Line Items]
Total assets acquired, net							$ 52,177,000	$ 448,729,000
Long-term debt										$ 1,709,101,000
Scenario, Forecast | Additional Summit Loan Agreement
Subsequent Event [Line Items]
Amortization paid			$ 1,000,000	$ 1,000,000	$ 1,000,000
Loans Payable | Summit Loan Amendment
Subsequent Event [Line Items]
Long-term debt										$ 23,400,000
Loans Payable | Scenario, Forecast | Summit Loan Amendment
Subsequent Event [Line Items]
Amortization paid	$ 1,000,000	$ 1,000,000							$ 2,000,000
Subsequent Event | Summit Portfolio, Second Closing, First Seven Hotels
Subsequent Event [Line Items]
Number of properties expected to be acquired (hotel) | hotel						7
Total assets acquired, net						$ 66,800,000
Subsequent Event | Summit Portfolio, Second Closing, Eighth Hotel
Subsequent Event [Line Items]
Total assets acquired, net						$ 10,500,000
Subsequent Event | Additional Summit Loan Agreement
Subsequent Event [Line Items]
Interest rate (percent)						13.00%
Interest rate, paid in cash (percent)						9.00%
Interest rate, compounded (percent)						4.00%
Increase in interest rate						1.00%
Subsequent Event | Additional Summit Loan Agreement | Summit Portfolio, Second Closing, First Seven Hotels
Subsequent Event [Line Items]
Number of properties expected to be acquired (hotel) | hotel						7
Subsequent Event | Loans Payable | Additional Summit Loan Agreement
Subsequent Event [Line Items]
Proceeds from short-term debt						$ 3,000,000

Subsequent Events - Suspension

Subsequent Events - Suspension of Distributions, Issuances of Common Stock and Articles Supplementary (Details) - Subsequent Event - USD ($) $ / shares in Units, $ in Millions	Mar. 31, 2017	Jan. 13, 2017	Mar. 15, 2017
Subsequent Event [Line Items]
Dividends per share per day suspended (usd per share)		$ 0.000186301
Common Stock
Subsequent Event [Line Items]
Common stock issued through Distribution Reinvestment Plan (in shares)			315,383
Class C Units
Subsequent Event [Line Items]
Number of units outstanding to allow redemption	0
Liquidation preference to allow redemption	$ 100

Subsequent Events - A&R LPA (De

Subsequent Events - A&R LPA (Details) - USD ($)	May 31, 2017	Mar. 31, 2017	Dec. 31, 2016	Dec. 31, 2017
Subsequent Event [Line Items]
Tax rate			35.00%
Advisor | Class B Units
Subsequent Event [Line Items]
Number of shares converted (shares)			524,956
Advisor | OP Units
Subsequent Event [Line Items]
Number of shares converted (shares)			524,956
Shares issued upon conversion (shares)			524,956
Advisor | Common Stock
Subsequent Event [Line Items]
Shares issued upon conversion (shares)			524,956
Scenario, Forecast | Class C Units
Subsequent Event [Line Items]
Liquidation preference (usd per share)				$ 0.10
Subsequent Event
Subsequent Event [Line Items]
Period after failure of redemption requirement to trigger remedies		3 months
Minimum percent of class c units to outstanding common stock to trigger preemptive rights		5.00%
Subsequent Event | OP Units
Subsequent Event [Line Items]
Conversion price (usd per share)		$ 14.75
Threshold ownership percentage for election of OP units or cash	49.90%
Subsequent Event | Class C Units
Subsequent Event [Line Items]
Cash distribution, percent per year		7.50%
Cash distribution, potential increased rate		10.00%
Cash dividend		$ 0
PIK distribution, percent per year		5.00%
PIK distribution, potential increased rate		7.50%
PIK distribution, additional increase in rate per quarter		1.25%
PIK distribution, maximum percent per year		12.50%
Distribution base amount		$ 800,000,000
Amount subtracted from distribution base amount		$ 400,000,000
Consummation period after initial closing		57 months 1 day
Distribution multiple		2
Distribution applied discount rate		5.00%
Threshold payment amount on redemption requests		$ 15,000,000
Threshold amount of liquidation preference		35,000,000
Funding commitment		$ 400,000,000
Period after initial closing		7 years
Subsequent Event | Brookfield Investor | Class C Units
Subsequent Event [Line Items]
Minimum amount of assets for transfers without consent		$ 100,000,000
Minimum ownership percent of outstanding shares to require a joinder for SPA standstill provisions		20.00%
Minimum ownership percent of outstanding shares to require a joinder for SPA voting standstill provisions		35.00%
Subsequent Event | Units Issued and Outstanding at Initial Closing | Advisor | Class B Units
Subsequent Event [Line Items]
Number of shares converted (shares)		524,956
Subsequent Event | Units Issued and Outstanding at Initial Closing | Advisor | OP Units
Subsequent Event [Line Items]
Number of shares converted (shares)		524,956
Shares issued upon conversion (shares)		524,956
Subsequent Event | Units Issued and Outstanding at Initial Closing | Advisor | Common Stock
Subsequent Event [Line Items]
Shares issued upon conversion (shares)		524,956
Subsequent Event | Units Issued and Outstanding Prior to Initial Closing | Advisor | OP Units
Subsequent Event [Line Items]
Number of shares converted (shares)		90
Subsequent Event | Units Issued and Outstanding Prior to Initial Closing | Advisor | Common Stock
Subsequent Event [Line Items]
Shares issued upon conversion (shares)		90

Subsequent Events - Approval Ri

Subsequent Events - Approval Rights and Ownership Limitations (Details) - USD ($) $ / shares in Units, $ in Millions	Mar. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Subsequent Event [Line Items]
Preferred stock, par value (usd per share)		$ 0.01	$ 0.01
Subsequent Event | Class C Units | Brookfield Investor
Subsequent Event [Line Items]
Liquidation preference	$ 100
Subsequent Event | Preferred equity interests
Subsequent Event [Line Items]
Preferred stock, par value (usd per share)	$ 0.01
Subsequent Event | Certificate of Notice
Subsequent Event [Line Items]
Aggregate share ownership limit, percent of outstanding shares of capital stock	4.90%
Aggregate share ownership limit, maximum as a percent of the value of capital stock	4.90%
Subsequent Event | Ownership Limit Waiver Agreement
Subsequent Event [Line Items]
Aggregate share ownership limit, percent of outstanding shares of capital stock	49.90%
Aggregate share ownership limit, maximum as a percent of the value of capital stock	49.90%

Subsequent Events - Property Ma

Subsequent Events - Property Management Transactions (Details)	Mar. 31, 2017USD ($)hoteltermshares	Mar. 30, 2017	Dec. 31, 2016USD ($)shares	Dec. 31, 2015USD ($)shares	Dec. 31, 2014USD ($)
Subsequent Event [Line Items]
Common stock, issued (shares)			38,493,430	36,300,777
Property Manager
Subsequent Event [Line Items]
Property management fee (percent)			4.00%
Fees incurred with the offering | $			$ 24,640,000	$ 16,714,000	$ 2,841,000
Advisor
Subsequent Event [Line Items]
Fees incurred with the offering | $			19,942,000	54,225,000	2,413,000
Class B Units
Subsequent Event [Line Items]
Fees incurred with the offering | $			$ 830,000	$ 419,000	$ 18,000
Class B Units | Advisor
Subsequent Event [Line Items]
Number of shares converted (shares)			524,956
OP Units | Advisor
Subsequent Event [Line Items]
Number of shares converted (shares)			524,956
Shares issued upon conversion (shares)			524,956
Common Stock | Advisor
Subsequent Event [Line Items]
Shares issued upon conversion (shares)			524,956
Subsequent Event
Subsequent Event [Line Items]
Automatic renewal period	5 years
Subsequent Event | Property Manager
Subsequent Event [Line Items]
Common stock, issued (shares)	279,329
Subsequent Event | Advisor
Subsequent Event [Line Items]
Common stock, issued (shares)	525,046
Subsequent Event | Property Management Transactions
Subsequent Event [Line Items]
Number of hotels assigned (hotel) | hotel	69
Number of additional hotels transitioned (hotel) | hotel	5
Property management fee (percent)	3.00%	4.00%
Number of automatic renewal periods | term	3
Percent fee multiple	2.5
Number of hotels with terminated property management agreements (hotel) | hotel	65
Subsequent Event | Property Management Transactions | Minimum
Subsequent Event [Line Items]
Term of agreement	18 years
Subsequent Event | Property Management Transactions | Maximum
Subsequent Event [Line Items]
Term of agreement	19 years
Subsequent Event | Property Management Transactions | Property Manager
Subsequent Event [Line Items]
Fees incurred with the offering | $	$ 10,000,000
Amount due to related party per month | $	$ 333,333.33
Period of monthly cash payments	12 months
Common stock, issued (shares)	279,329
Subsequent Event | Property Management Transactions | Advisor
Subsequent Event [Line Items]
Fees incurred with the offering | $	$ 5,821,988
Subsequent Event | Class B Units | Property Management Transactions | Advisor
Subsequent Event [Line Items]
Number of shares converted (shares)	524,956
Subsequent Event | OP Units | Property Management Transactions | Advisor
Subsequent Event [Line Items]
Number of shares converted (shares)	524,956
Shares issued upon conversion (shares)	524,956
Subsequent Event | Common Stock | Property Management Transactions | Advisor
Subsequent Event [Line Items]
Shares issued upon conversion (shares)	524,956

Subsequent Events - Transition

Subsequent Events - Transition Services, Trademark License and Registration Rights Agreements (Details) - USD ($) $ in Thousands	May 15, 2017	Mar. 31, 2017	May 15, 2017	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Subsequent Event [Line Items]
Common stock, issued (shares)				38,493,430	36,300,777
Advisor
Subsequent Event [Line Items]
Fees incurred with the offering				$ 19,942	$ 54,225	$ 2,413
Property Manager
Subsequent Event [Line Items]
Fees incurred with the offering				$ 24,640	$ 16,714	$ 2,841
Scenario, Forecast | Transition Services Agreement | Advisor
Subsequent Event [Line Items]
Fees incurred with the offering	$ 75		$ 225
Subsequent Event
Subsequent Event [Line Items]
Period of automatic renewal under transition services agreement		90 days
Period of extended support		30 days
Period following initial closing to use trademarks and service marks		90 days
Subsequent Event | Advisor
Subsequent Event [Line Items]
Common stock, issued (shares)		525,046
Subsequent Event | Property Manager
Subsequent Event [Line Items]
Common stock, issued (shares)		279,329
Subsequent Event | Transition Services Agreement
Subsequent Event [Line Items]
Fees incurred with the offering		$ 25
Period of written notice for termination of automatic renewal		40 days
Potential extended support expenses		$ 75
Subsequent Event | Transition Services Agreement | Advisor
Subsequent Event [Line Items]
Fees incurred with the offering		$ 150

Subsequent Events - Amendments

Subsequent Events - Amendments to Grace Agreements (Details) - Grace Amendments - USD ($) $ in Millions	Mar. 31, 2017	Feb. 27, 2019	Feb. 27, 2018
Scenario, Forecast
Subsequent Event [Line Items]
Redemption requirement		$ 223.5	$ 19.4
Redemption requirement as a percent of original amount issued			50.00%
Subsequent Event
Subsequent Event [Line Items]
Percent of proceeds used for redemption	35.00%
Redemption requirement	$ 242.9
Subsequent Event | Redemption of Grace Preferred Equity Interests | SPA
Subsequent Event [Line Items]
Value of units issued	47.3
Subsequent Event | Class C Units | SPA
Subsequent Event [Line Items]
Value of units issued	$ 265

Subsequent Events - Director Co

Subsequent Events - Director Compensation Policy (Details) - USD ($)	Jul. 01, 2017	Mar. 31, 2017
Director | Scenario, Forecast | RSUs
Subsequent Event [Line Items]
RSU grants	$ 50,000
Director | Subsequent Event
Subsequent Event [Line Items]
Cash retainer		$ 100,000
Compensation Committee Chairman | Subsequent Event
Subsequent Event [Line Items]
Cash retainer		15,000
Audit Committee Chairman | Subsequent Event
Subsequent Event [Line Items]
Cash retainer		15,000
Nominating and Corporate Governance Committee Chairman | Subsequent Event
Subsequent Event [Line Items]
Cash retainer		10,000
Audit Committee Members | Subsequent Event
Subsequent Event [Line Items]
Cash retainer		5,000
Compensation Committee Members | Subsequent Event
Subsequent Event [Line Items]
Cash retainer		2,500
Conflicts Committee Chairman | Subsequent Event
Subsequent Event [Line Items]
Cash retainer		10,000
Nominating and Corporate Governance Committee Members | Subsequent Event
Subsequent Event [Line Items]
Cash retainer		2,500
Conflicts Committee Members | Subsequent Event
Subsequent Event [Line Items]
Cash retainer		$ 2,500

Subsequent Events - Executive E

Subsequent Events - Executive Employment Agreements (Details) - Subsequent Event	Mar. 31, 2017USD ($)shares
Chief Executive Officer and President
Subsequent Event [Line Items]
Automatic renewal period	1 year
Written notice period	90 days
Annual base salary | $	$ 750,000
Bonus percentage	130.00%
Severance period	12 months
Salary amount under initial employment term	150.00%
Period following termination for monthly benefit reimbursements	18 months
Period after change in control to require additional benefits	12 months
Salary amount multiple	2
Bonus amount multiple	3
Period of continued health, dental and life insurance coverage	24 months
Period of non-disclosure obligation after termination	12 months
Chief Executive Officer and President | Minimum
Subsequent Event [Line Items]
Bonus percentage	67.00%
Chief Executive Officer and President | Maximum
Subsequent Event [Line Items]
Bonus percentage	225.00%
Chief Executive Officer and President | RSUs
Subsequent Event [Line Items]
Target LTIP RSU grants	135,000
Chief Executive Officer and President | First Business Day of July, 2017 | RSUs
Subsequent Event [Line Items]
LTIP RSU grants	35,000
Vesting percentage	25.00%
Chief Executive Officer and President | Thereafter | RSUs
Subsequent Event [Line Items]
Vesting percentage	25.00%
Chief Executive Officer and President | Postretirement Life Insurance
Subsequent Event [Line Items]
Life insurance policy with death benefit | $	$ 500,000
Chief Financial Officer and Treasurer
Subsequent Event [Line Items]
Automatic renewal period	1 year
Written notice period	90 days
Annual base salary | $	$ 375,000
Bonus percentage	75.00%
Severance period	12 months
Period following termination for monthly benefit reimbursements	12 months
Period after change in control to require additional benefits	12 months
Salary amount multiple	2
Period of continued health, dental and life insurance coverage	24 months
Period of non-disclosure obligation after termination	12 months
Chief Financial Officer and Treasurer | Minimum
Subsequent Event [Line Items]
Bonus percentage	50.00%
Chief Financial Officer and Treasurer | Maximum
Subsequent Event [Line Items]
Bonus percentage	150.00%
Chief Financial Officer and Treasurer | RSUs
Subsequent Event [Line Items]
Target LTIP RSU grants	33,250
Chief Financial Officer and Treasurer | First Business Day of July, 2017 | RSUs
Subsequent Event [Line Items]
LTIP RSU grants	8,750
Vesting percentage	25.00%
Chief Financial Officer and Treasurer | Thereafter | RSUs
Subsequent Event [Line Items]
Vesting percentage	25.00%
General Counsel and Secretary
Subsequent Event [Line Items]
Automatic renewal period	1 year
Written notice period	90 days
Annual base salary | $	$ 375,000
Bonus percentage	75.00%
Severance period	12 months
Period following termination for monthly benefit reimbursements	12 months
Period after change in control to require additional benefits	12 months
Salary amount multiple	2
Period of continued health, dental and life insurance coverage	24 months
Period of non-disclosure obligation after termination	12 months
General Counsel and Secretary | Minimum
Subsequent Event [Line Items]
Bonus percentage	50.00%
General Counsel and Secretary | Maximum
Subsequent Event [Line Items]
Bonus percentage	150.00%
General Counsel and Secretary | RSUs
Subsequent Event [Line Items]
Target LTIP RSU grants	33,250
General Counsel and Secretary | First Business Day of July, 2017 | RSUs
Subsequent Event [Line Items]
LTIP RSU grants	8,750
Vesting percentage	25.00%
General Counsel and Secretary | Thereafter | RSUs
Subsequent Event [Line Items]
Vesting percentage	25.00%

Schedule III - Real Estate an82

Schedule III - Real Estate and Accumulated Depreciation - Summary of Activity for Real Estate (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Debt	$ (1,709,101)
Initial cost of land	340,043
Initial cost of buildings and improvements	1,756,484
Subsequent costs capitalized for Land	(224)
Subsequent costs capitalized for buildings and improvements	82,110
Gross amount of land	339,819
Gross amount of buildings and improvements	1,838,594
Total	2,178,414	$ 2,047,831	$ 93,237	$ 89,666
Accumulated depreciation	(92,848)	$ (39,252)	$ (1,569)	$ 0
Tax basis of aggregate land, buildings and improvements	$ 2,138,617
Building
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Depreciable life (years)	40 years
Building improvements
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Depreciable life (years)	15 years
Courtyard Baltimore Downtown Inner Harbor
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Debt	$ (24,980)
Initial cost of land	4,961
Initial cost of buildings and improvements	34,343
Subsequent costs capitalized for Land	0
Subsequent costs capitalized for buildings and improvements	0
Gross amount of land	4,961
Gross amount of buildings and improvements	34,343
Total	39,304
Accumulated depreciation	(2,421)
Courtyard Providence Downtown
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Debt	(20,520)
Initial cost of land	4,724
Initial cost of buildings and improvements	29,388
Subsequent costs capitalized for Land	0
Subsequent costs capitalized for buildings and improvements	1,247
Gross amount of land	4,724
Gross amount of buildings and improvements	30,635
Total	35,359
Accumulated depreciation	(2,221)
Georgia Tech Hotel and Conference Center
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Debt	0
Initial cost of land	0
Initial cost of buildings and improvements	0
Subsequent costs capitalized for Land	0
Subsequent costs capitalized for buildings and improvements	0
Gross amount of land	0
Gross amount of buildings and improvements	0
Total	0
Accumulated depreciation	0
Homewood Suites Stratford
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Debt	(12,500)
Initial cost of land	2,377
Initial cost of buildings and improvements	13,875
Subsequent costs capitalized for Land	0
Subsequent costs capitalized for buildings and improvements	1,402
Gross amount of land	2,377
Gross amount of buildings and improvements	15,277
Total	17,654
Accumulated depreciation	(1,238)
Westin Virginia Beach Town Center
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Debt	0
Initial cost of land	0
Initial cost of buildings and improvements	0
Subsequent costs capitalized for Land	0
Subsequent costs capitalized for buildings and improvements	0
Gross amount of land	0
Gross amount of buildings and improvements	0
Total	0
Accumulated depreciation	0
Hilton Garden Inn Blacksburg
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Debt	(10,500)
Initial cost of land	0
Initial cost of buildings and improvements	14,107
Subsequent costs capitalized for Land	0
Subsequent costs capitalized for buildings and improvements	0
Gross amount of land	0
Gross amount of buildings and improvements	14,107
Total	14,107
Accumulated depreciation	(613)
Courtyard Lexington South Hamburg Place
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Debt	(13,474)
Initial cost of land	2,766
Initial cost of buildings and improvements	10,242
Subsequent costs capitalized for Land	0
Subsequent costs capitalized for buildings and improvements	38
Gross amount of land	2,766
Gross amount of buildings and improvements	10,280
Total	13,046
Accumulated depreciation	(513)
Courtyard Louisville Downtown
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Debt	(26,501)
Initial cost of land	3,727
Initial cost of buildings and improvements	33,543
Subsequent costs capitalized for Land	0
Subsequent costs capitalized for buildings and improvements	9
Gross amount of land	3,727
Gross amount of buildings and improvements	33,552
Total	37,279
Accumulated depreciation	(1,545)
Embassy Suites Orlando International Drive Jamaican Court
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Debt	(19,449)
Initial cost of land	2,356
Initial cost of buildings and improvements	23,646
Subsequent costs capitalized for Land	(4)
Subsequent costs capitalized for buildings and improvements	1,742
Gross amount of land	2,352
Gross amount of buildings and improvements	25,387
Total	27,739
Accumulated depreciation	(1,338)
Fairfield Inn & Suites Atlanta Vinings
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Debt	(8,305)
Initial cost of land	1,394
Initial cost of buildings and improvements	8,968
Subsequent costs capitalized for Land	0
Subsequent costs capitalized for buildings and improvements	1,896
Gross amount of land	1,395
Gross amount of buildings and improvements	10,864
Total	12,259
Accumulated depreciation	(647)
Homewood Suites Chicago Downtown
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Debt	(61,659)
Initial cost of land	15,314
Initial cost of buildings and improvements	73,248
Subsequent costs capitalized for Land	4
Subsequent costs capitalized for buildings and improvements	5,574
Gross amount of land	15,318
Gross amount of buildings and improvements	78,822
Total	94,140
Accumulated depreciation	(4,119)
Hyatt Place Albuquerque Uptown
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Debt	(14,773)
Initial cost of land	987
Initial cost of buildings and improvements	16,386
Subsequent costs capitalized for Land	(1)
Subsequent costs capitalized for buildings and improvements	1,204
Gross amount of land	986
Gross amount of buildings and improvements	17,589
Total	18,575
Accumulated depreciation	(862)
Hyatt Place Baltimore Washington Airport
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Debt	(9,510)
Initial cost of land	3,129
Initial cost of buildings and improvements	9,068
Subsequent costs capitalized for Land	2
Subsequent costs capitalized for buildings and improvements	1,297
Gross amount of land	3,131
Gross amount of buildings and improvements	10,365
Total	13,496
Accumulated depreciation	(613)
Hyatt Place Baton Rouge I 10
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Debt	(10,664)
Initial cost of land	1,888
Initial cost of buildings and improvements	8,897
Subsequent costs capitalized for Land	(1)
Subsequent costs capitalized for buildings and improvements	1,261
Gross amount of land	1,887
Gross amount of buildings and improvements	10,158
Total	12,045
Accumulated depreciation	(472)
Hyatt Place Birmingham Hoover
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Debt	(8,935)
Initial cost of land	956
Initial cost of buildings and improvements	9,689
Subsequent costs capitalized for Land	1
Subsequent costs capitalized for buildings and improvements	133
Gross amount of land	957
Gross amount of buildings and improvements	9,822
Total	10,779
Accumulated depreciation	(519)
Hyatt Place Cincinnati Blue Ash
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Debt	(6,754)
Initial cost of land	652
Initial cost of buildings and improvements	7,951
Subsequent costs capitalized for Land	(1)
Subsequent costs capitalized for buildings and improvements	1,520
Gross amount of land	651
Gross amount of buildings and improvements	9,471
Total	10,122
Accumulated depreciation	(527)
Hyatt Place Columbus Worthington
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Debt	(8,585)
Initial cost of land	1,063
Initial cost of buildings and improvements	11,319
Subsequent costs capitalized for Land	(1)
Subsequent costs capitalized for buildings and improvements	201
Gross amount of land	1,063
Gross amount of buildings and improvements	11,520
Total	12,583
Accumulated depreciation	(573)
Hyatt Place Indianapolis Keystone
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Debt	(11,233)
Initial cost of land	1,918
Initial cost of buildings and improvements	13,935
Subsequent costs capitalized for Land	(1)
Subsequent costs capitalized for buildings and improvements	1,310
Gross amount of land	1,917
Gross amount of buildings and improvements	15,245
Total	17,162
Accumulated depreciation	(760)
Hyatt Place Memphis Wolfchase Galleria
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Debt	(10,247)
Initial cost of land	971
Initial cost of buildings and improvements	14,505
Subsequent costs capitalized for Land	2
Subsequent costs capitalized for buildings and improvements	105
Gross amount of land	974
Gross amount of buildings and improvements	14,611
Total	15,584
Accumulated depreciation	(709)
Hyatt Place Miami Airport West Doral
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Debt	(17,327)
Initial cost of land	2,634
Initial cost of buildings and improvements	17,897
Subsequent costs capitalized for Land	1
Subsequent costs capitalized for buildings and improvements	468
Gross amount of land	2,634
Gross amount of buildings and improvements	18,365
Total	20,999
Accumulated depreciation	(875)
Hyatt Place Nashville Franklin Cool Springs
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Debt	(14,446)
Initial cost of land	2,201
Initial cost of buildings and improvements	15,003
Subsequent costs capitalized for Land	2
Subsequent costs capitalized for buildings and improvements	2,150
Gross amount of land	2,202
Gross amount of buildings and improvements	17,154
Total	19,356
Accumulated depreciation	(754)
Hyatt Place Richmond Innsbrook
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Debt	(7,401)
Initial cost of land	1,584
Initial cost of buildings and improvements	8,013
Subsequent costs capitalized for Land	(5)
Subsequent costs capitalized for buildings and improvements	1,483
Gross amount of land	1,578
Gross amount of buildings and improvements	9,497
Total	11,075
Accumulated depreciation	(595)
Hyatt Place Tampa Airport Westshore
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Debt	(16,425)
Initial cost of land	3,329
Initial cost of buildings and improvements	15,710
Subsequent costs capitalized for Land	(5)
Subsequent costs capitalized for buildings and improvements	1,255
Gross amount of land	3,324
Gross amount of buildings and improvements	16,966
Total	20,290
Accumulated depreciation	(835)
Residence Inn Lexington South Hamburg Place
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Debt	(11,970)
Initial cost of land	2,044
Initial cost of buildings and improvements	13,313
Subsequent costs capitalized for Land	0
Subsequent costs capitalized for buildings and improvements	1,990
Gross amount of land	2,044
Gross amount of buildings and improvements	15,303
Total	17,347
Accumulated depreciation	(771)
SpringHill Suites Lexington Near The University Of Kentucky
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Debt	(13,662)
Initial cost of land	3,321
Initial cost of buildings and improvements	13,064
Subsequent costs capitalized for Land	0
Subsequent costs capitalized for buildings and improvements	7
Gross amount of land	3,321
Gross amount of buildings and improvements	13,071
Total	16,392
Accumulated depreciation	(660)
Hampton Inn Albany Wolf Road Airport
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Debt	(16,123)
Initial cost of land	1,717
Initial cost of buildings and improvements	16,572
Subsequent costs capitalized for Land	0
Subsequent costs capitalized for buildings and improvements	80
Gross amount of land	1,717
Gross amount of buildings and improvements	16,652
Total	18,369
Accumulated depreciation	(855)
Hampton Inn Colorado Springs Central Airforce Academy
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Debt	(3,455)
Initial cost of land	449
Initial cost of buildings and improvements	6,322
Subsequent costs capitalized for Land	0
Subsequent costs capitalized for buildings and improvements	14
Gross amount of land	449
Gross amount of buildings and improvements	6,335
Total	6,784
Accumulated depreciation	(374)
Hampton Inn Baltimore Glen Burnie
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Debt	(3,376)
Initial cost of land	0
Initial cost of buildings and improvements	5,438
Subsequent costs capitalized for Land	0
Subsequent costs capitalized for buildings and improvements	1,248
Gross amount of land	0
Gross amount of buildings and improvements	6,686
Total	6,686
Accumulated depreciation	(748)
Hampton Inn Beckley
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Debt	(15,440)
Initial cost of land	857
Initial cost of buildings and improvements	13,670
Subsequent costs capitalized for Land	0
Subsequent costs capitalized for buildings and improvements	54
Gross amount of land	857
Gross amount of buildings and improvements	13,724
Total	14,581
Accumulated depreciation	(697)
Hampton Inn Birmingham Mountain Brook
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Debt	(8,031)
Initial cost of land	0
Initial cost of buildings and improvements	9,863
Subsequent costs capitalized for Land	0
Subsequent costs capitalized for buildings and improvements	10
Gross amount of land	0
Gross amount of buildings and improvements	9,873
Total	9,873
Accumulated depreciation	(495)
Hampton Inn Boca Raton
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Debt	(13,080)
Initial cost of land	2,027
Initial cost of buildings and improvements	10,420
Subsequent costs capitalized for Land	0
Subsequent costs capitalized for buildings and improvements	2,371
Gross amount of land	2,027
Gross amount of buildings and improvements	12,792
Total	14,819
Accumulated depreciation	(514)
Hampton Inn Boca Raton Deerfield Beach
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Debt	(12,215)
Initial cost of land	2,781
Initial cost of buildings and improvements	9,338
Subsequent costs capitalized for Land	0
Subsequent costs capitalized for buildings and improvements	28
Gross amount of land	2,781
Gross amount of buildings and improvements	9,366
Total	12,147
Accumulated depreciation	(480)
Hampton Inn Charleston Airport Coliseum
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Debt	(4,072)
Initial cost of land	1,768
Initial cost of buildings and improvements	6,586
Subsequent costs capitalized for Land	0
Subsequent costs capitalized for buildings and improvements	0
Gross amount of land	1,768
Gross amount of buildings and improvements	6,586
Total	8,354
Accumulated depreciation	(392)
Hampton Inn Chattanooga Airport I 75
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Debt	(4,647)
Initial cost of land	1,827
Initial cost of buildings and improvements	5,268
Subsequent costs capitalized for Land	0
Subsequent costs capitalized for buildings and improvements	0
Gross amount of land	1,827
Gross amount of buildings and improvements	5,268
Total	7,095
Accumulated depreciation	(390)
Hampton Inn Chicago Gurnee
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Debt	(10,717)
Initial cost of land	757
Initial cost of buildings and improvements	12,189
Subsequent costs capitalized for Land	0
Subsequent costs capitalized for buildings and improvements	92
Gross amount of land	757
Gross amount of buildings and improvements	12,281
Total	13,038
Accumulated depreciation	(634)
Hampton Inn Columbia I 26 Airport
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Debt	(5,022)
Initial cost of land	1,209
Initial cost of buildings and improvements	3,684
Subsequent costs capitalized for Land	0
Subsequent costs capitalized for buildings and improvements	11
Gross amount of land	1,209
Gross amount of buildings and improvements	3,695
Total	4,904
Accumulated depreciation	(278)
Hampton Inn Columbus Dublin
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Debt	(10,518)
Initial cost of land	1,140
Initial cost of buildings and improvements	10,856
Subsequent costs capitalized for Land	0
Subsequent costs capitalized for buildings and improvements	9
Gross amount of land	1,140
Gross amount of buildings and improvements	10,865
Total	12,005
Accumulated depreciation	(552)
Hampton Inn Columbus Airport
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Debt	(2,827)
Initial cost of land	941
Initial cost of buildings and improvements	1,251
Subsequent costs capitalized for Land	0
Subsequent costs capitalized for buildings and improvements	0
Gross amount of land	941
Gross amount of buildings and improvements	1,251
Total	2,192
Accumulated depreciation	(204)
Hampton Inn Detroit Madison Heights South Troy
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Debt	(11,679)
Initial cost of land	1,950
Initial cost of buildings and improvements	11,834
Subsequent costs capitalized for Land	0
Subsequent costs capitalized for buildings and improvements	32
Gross amount of land	1,950
Gross amount of buildings and improvements	11,865
Total	13,815
Accumulated depreciation	(617)
Hampton Inn Detroit Northville
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Debt	(8,335)
Initial cost of land	1,210
Initial cost of buildings and improvements	8,591
Subsequent costs capitalized for Land	0
Subsequent costs capitalized for buildings and improvements	205
Gross amount of land	1,210
Gross amount of buildings and improvements	8,795
Total	10,005
Accumulated depreciation	(527)
Hampton Inn Kansas City Overland Park
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Debt	(4,480)
Initial cost of land	1,233
Initial cost of buildings and improvements	9,210
Subsequent costs capitalized for Land	0
Subsequent costs capitalized for buildings and improvements	129
Gross amount of land	1,233
Gross amount of buildings and improvements	9,339
Total	10,572
Accumulated depreciation	(624)
Hampton Inn Kansas City Airport
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Debt	(8,560)
Initial cost of land	1,362
Initial cost of buildings and improvements	9,247
Subsequent costs capitalized for Land	0
Subsequent costs capitalized for buildings and improvements	164
Gross amount of land	1,362
Gross amount of buildings and improvements	9,411
Total	10,773
Accumulated depreciation	(485)
Hampton Inn Memphis Poplar
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Debt	(12,077)
Initial cost of land	2,168
Initial cost of buildings and improvements	10,618
Subsequent costs capitalized for Land	0
Subsequent costs capitalized for buildings and improvements	66
Gross amount of land	2,168
Gross amount of buildings and improvements	10,684
Total	12,852
Accumulated depreciation	(548)
Hampton Inn Morgantown
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Debt	(12,893)
Initial cost of land	3,062
Initial cost of buildings and improvements	12,810
Subsequent costs capitalized for Land	0
Subsequent costs capitalized for buildings and improvements	76
Gross amount of land	3,062
Gross amount of buildings and improvements	12,886
Total	15,948
Accumulated depreciation	(641)
Hampton Inn Norfolk Naval Base
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Debt	(3,786)
Initial cost of land	0
Initial cost of buildings and improvements	6,873
Subsequent costs capitalized for Land	0
Subsequent costs capitalized for buildings and improvements	2,004
Gross amount of land	0
Gross amount of buildings and improvements	8,876
Total	8,876
Accumulated depreciation	(641)
Hampton Inn Palm Beach Gardens
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Debt	(19,160)
Initial cost of land	3,253
Initial cost of buildings and improvements	17,724
Subsequent costs capitalized for Land	0
Subsequent costs capitalized for buildings and improvements	2
Gross amount of land	3,253
Gross amount of buildings and improvements	17,726
Total	20,979
Accumulated depreciation	(872)
Hampton Inn Pickwick Dam @ Shiloh Falls
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Debt	(1,979)
Initial cost of land	148
Initial cost of buildings and improvements	2,089
Subsequent costs capitalized for Land	0
Subsequent costs capitalized for buildings and improvements	26
Gross amount of land	148
Gross amount of buildings and improvements	2,115
Total	2,263
Accumulated depreciation	(158)
Hampton Inn Scranton @ Montage Mountain
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Debt	(10,787)
Initial cost of land	754
Initial cost of buildings and improvements	11,174
Subsequent costs capitalized for Land	0
Subsequent costs capitalized for buildings and improvements	28
Gross amount of land	753
Gross amount of buildings and improvements	11,201
Total	11,954
Accumulated depreciation	(596)
Hampton Inn St Louis Westport
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Debt	(7,369)
Initial cost of land	1,359
Initial cost of buildings and improvements	8,486
Subsequent costs capitalized for Land	0
Subsequent costs capitalized for buildings and improvements	29
Gross amount of land	1,359
Gross amount of buildings and improvements	8,515
Total	9,874
Accumulated depreciation	(430)
Hampton Inn State College
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Debt	(10,936)
Initial cost of land	2,509
Initial cost of buildings and improvements	9,359
Subsequent costs capitalized for Land	0
Subsequent costs capitalized for buildings and improvements	68
Gross amount of land	2,509
Gross amount of buildings and improvements	9,427
Total	11,936
Accumulated depreciation	(524)
Hampton Inn West Palm Beach Florida Turnpike
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Debt	(16,218)
Initial cost of land	2,008
Initial cost of buildings and improvements	13,636
Subsequent costs capitalized for Land	0
Subsequent costs capitalized for buildings and improvements	31
Gross amount of land	2,008
Gross amount of buildings and improvements	13,667
Total	15,675
Accumulated depreciation	(674)
Homewood Suites Hartford Windsor Locks
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Debt	(10,624)
Initial cost of land	3,072
Initial cost of buildings and improvements	8,996
Subsequent costs capitalized for Land	0
Subsequent costs capitalized for buildings and improvements	182
Gross amount of land	3,072
Gross amount of buildings and improvements	9,178
Total	12,251
Accumulated depreciation	(697)
Homewood Suites Memphis Germantown
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Debt	(7,423)
Initial cost of land	1,024
Initial cost of buildings and improvements	8,871
Subsequent costs capitalized for Land	0
Subsequent costs capitalized for buildings and improvements	2,276
Gross amount of land	1,024
Gross amount of buildings and improvements	11,147
Total	12,171
Accumulated depreciation	(663)
Homewood Suites Phoenix Biltmore
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Debt	(16,877)
Initial cost of land	0
Initial cost of buildings and improvements	23,722
Subsequent costs capitalized for Land	0
Subsequent costs capitalized for buildings and improvements	2,154
Gross amount of land	0
Gross amount of buildings and improvements	25,875
Total	25,875
Accumulated depreciation	(1,151)
Hampton Inn & Suites Boynton Beach
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Debt	(26,922)
Initial cost of land	1,393
Initial cost of buildings and improvements	24,759
Subsequent costs capitalized for Land	0
Subsequent costs capitalized for buildings and improvements	42
Gross amount of land	1,393
Gross amount of buildings and improvements	24,801
Total	26,194
Accumulated depreciation	(1,213)
Hampton Inn Cleveland Westlake
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Debt	(11,738)
Initial cost of land	4,177
Initial cost of buildings and improvements	10,002
Subsequent costs capitalized for Land	0
Subsequent costs capitalized for buildings and improvements	9
Gross amount of land	4,176
Gross amount of buildings and improvements	10,011
Total	14,187
Accumulated depreciation	(588)
Courtyard Athens Downtown
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Debt	(8,683)
Initial cost of land	3,201
Initial cost of buildings and improvements	7,305
Subsequent costs capitalized for Land	0
Subsequent costs capitalized for buildings and improvements	8
Gross amount of land	3,201
Gross amount of buildings and improvements	7,312
Total	10,513
Accumulated depreciation	(382)
Courtyard Gainesville
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Debt	(12,031)
Initial cost of land	2,904
Initial cost of buildings and improvements	8,605
Subsequent costs capitalized for Land	0
Subsequent costs capitalized for buildings and improvements	137
Gross amount of land	2,904
Gross amount of buildings and improvements	8,742
Total	11,646
Accumulated depreciation	(450)
Courtyard Knoxville Cedar Bluff
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Debt	(10,436)
Initial cost of land	1,289
Initial cost of buildings and improvements	8,556
Subsequent costs capitalized for Land	0
Subsequent costs capitalized for buildings and improvements	1,049
Gross amount of land	1,289
Gross amount of buildings and improvements	9,606
Total	10,895
Accumulated depreciation	(478)
Courtyard Mobile
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Debt	(4,899)
Initial cost of land	0
Initial cost of buildings and improvements	3,657
Subsequent costs capitalized for Land	0
Subsequent costs capitalized for buildings and improvements	1,369
Gross amount of land	0
Gross amount of buildings and improvements	5,027
Total	5,027
Accumulated depreciation	(326)
Courtyard Orlando Altamonte Springs Maitland
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Debt	(12,513)
Initial cost of land	1,716
Initial cost of buildings and improvements	11,463
Subsequent costs capitalized for Land	0
Subsequent costs capitalized for buildings and improvements	24
Gross amount of land	1,716
Gross amount of buildings and improvements	11,488
Total	13,204
Accumulated depreciation	(571)
Courtyard Sarasota Bradenton
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Debt	(8,456)
Initial cost of land	1,928
Initial cost of buildings and improvements	8,334
Subsequent costs capitalized for Land	0
Subsequent costs capitalized for buildings and improvements	165
Gross amount of land	1,928
Gross amount of buildings and improvements	8,498
Total	10,426
Accumulated depreciation	(413)
Courtyard Tallahassee North I 10 Capital Circle
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Debt	(10,230)
Initial cost of land	2,767
Initial cost of buildings and improvements	9,254
Subsequent costs capitalized for Land	0
Subsequent costs capitalized for buildings and improvements	144
Gross amount of land	2,767
Gross amount of buildings and improvements	9,397
Total	12,164
Accumulated depreciation	(515)
Holiday Inn Express & Suites Kendall East Miami
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Debt	(8,745)
Initial cost of land	1,248
Initial cost of buildings and improvements	7,525
Subsequent costs capitalized for Land	0
Subsequent costs capitalized for buildings and improvements	316
Gross amount of land	1,248
Gross amount of buildings and improvements	7,842
Total	9,090
Accumulated depreciation	(377)
Residence Inn Chattanooga Downtown
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Debt	(10,427)
Initial cost of land	1,142
Initial cost of buildings and improvements	10,112
Subsequent costs capitalized for Land	0
Subsequent costs capitalized for buildings and improvements	1,405
Gross amount of land	1,142
Gross amount of buildings and improvements	11,517
Total	12,659
Accumulated depreciation	(549)
Residence Inn Fort Myers
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Debt	(8,365)
Initial cost of land	1,372
Initial cost of buildings and improvements	8,765
Subsequent costs capitalized for Land	0
Subsequent costs capitalized for buildings and improvements	57
Gross amount of land	1,372
Gross amount of buildings and improvements	8,822
Total	10,194
Accumulated depreciation	(437)
Residence Inn Knoxville Cedar Bluff
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Debt	(10,014)
Initial cost of land	1,474
Initial cost of buildings and improvements	9,580
Subsequent costs capitalized for Land	0
Subsequent costs capitalized for buildings and improvements	38
Gross amount of land	1,474
Gross amount of buildings and improvements	9,617
Total	11,091
Accumulated depreciation	(518)
Residence Inn Macon
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Debt	(4,928)
Initial cost of land	1,046
Initial cost of buildings and improvements	5,381
Subsequent costs capitalized for Land	0
Subsequent costs capitalized for buildings and improvements	1,626
Gross amount of land	1,046
Gross amount of buildings and improvements	7,007
Total	8,053
Accumulated depreciation	(449)
Residence Inn Mobile
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Debt	(6,537)
Initial cost of land	0
Initial cost of buildings and improvements	6,714
Subsequent costs capitalized for Land	0
Subsequent costs capitalized for buildings and improvements	23
Gross amount of land	0
Gross amount of buildings and improvements	6,737
Total	6,737
Accumulated depreciation	(366)
Residence Inn Sarasota Bradenton
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Debt	(9,968)
Initial cost of land	2,138
Initial cost of buildings and improvements	9,118
Subsequent costs capitalized for Land	0
Subsequent costs capitalized for buildings and improvements	0
Gross amount of land	2,138
Gross amount of buildings and improvements	9,118
Total	11,256
Accumulated depreciation	(484)
Residence Inn Savannah Midtown
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Debt	(7,650)
Initial cost of land	1,106
Initial cost of buildings and improvements	9,349
Subsequent costs capitalized for Land	0
Subsequent costs capitalized for buildings and improvements	402
Gross amount of land	1,106
Gross amount of buildings and improvements	9,751
Total	10,857
Accumulated depreciation	(475)
Residence Inn Tallahassee North I 10 Capital Circle
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Debt	(9,682)
Initial cost of land	1,349
Initial cost of buildings and improvements	9,983
Subsequent costs capitalized for Land	0
Subsequent costs capitalized for buildings and improvements	1,644
Gross amount of land	1,349
Gross amount of buildings and improvements	11,627
Total	12,976
Accumulated depreciation	(528)
Residence Inn Tampa North I 75 Fletcher
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Debt	(8,858)
Initial cost of land	1,251
Initial cost of buildings and improvements	8,174
Subsequent costs capitalized for Land	0
Subsequent costs capitalized for buildings and improvements	94
Gross amount of land	1,251
Gross amount of buildings and improvements	8,268
Total	9,519
Accumulated depreciation	(462)
Residence Inn Tampa Sabal Park Brandon
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Debt	(11,736)
Initial cost of land	1,773
Initial cost of buildings and improvements	10,830
Subsequent costs capitalized for Land	0
Subsequent costs capitalized for buildings and improvements	39
Gross amount of land	1,773
Gross amount of buildings and improvements	10,869
Total	12,642
Accumulated depreciation	(572)
Courtyard Bowling Green Convention Center
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Debt	(10,868)
Initial cost of land	503
Initial cost of buildings and improvements	11,003
Subsequent costs capitalized for Land	0
Subsequent costs capitalized for buildings and improvements	25
Gross amount of land	504
Gross amount of buildings and improvements	11,028
Total	11,532
Accumulated depreciation	(552)
Courtyard Chicago Elmhurst Oakbrook Area
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Debt	(9,871)
Initial cost of land	1,323
Initial cost of buildings and improvements	11,868
Subsequent costs capitalized for Land	0
Subsequent costs capitalized for buildings and improvements	84
Gross amount of land	1,323
Gross amount of buildings and improvements	11,952
Total	13,275
Accumulated depreciation	(1,320)
Courtyard Jacksonville Airport Northeast
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Debt	(4,918)
Initial cost of land	1,783
Initial cost of buildings and improvements	5,459
Subsequent costs capitalized for Land	0
Subsequent costs capitalized for buildings and improvements	1,392
Gross amount of land	1,783
Gross amount of buildings and improvements	6,852
Total	8,635
Accumulated depreciation	(494)
Hampton Inn & Suites Nashville Franklin Cool Springs
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Debt	(18,942)
Initial cost of land	2,526
Initial cost of buildings and improvements	16,985
Subsequent costs capitalized for Land	0
Subsequent costs capitalized for buildings and improvements	0
Gross amount of land	2,525
Gross amount of buildings and improvements	16,985
Total	19,510
Accumulated depreciation	(880)
Hampton Inn Boston Peabody
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Debt	(12,254)
Initial cost of land	3,008
Initial cost of buildings and improvements	11,846
Subsequent costs capitalized for Land	0
Subsequent costs capitalized for buildings and improvements	59
Gross amount of land	3,008
Gross amount of buildings and improvements	11,905
Total	14,913
Accumulated depreciation	(673)
Hampton Inn Grand Rapids North
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Debt	(11,400)
Initial cost of land	2,191
Initial cost of buildings and improvements	11,502
Subsequent costs capitalized for Land	0
Subsequent costs capitalized for buildings and improvements	67
Gross amount of land	2,191
Gross amount of buildings and improvements	11,569
Total	13,760
Accumulated depreciation	(616)
Homewood Suites Boston Peabody
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Debt	(8,631)
Initial cost of land	2,508
Initial cost of buildings and improvements	8,654
Subsequent costs capitalized for Land	0
Subsequent costs capitalized for buildings and improvements	2,807
Gross amount of land	2,508
Gross amount of buildings and improvements	11,461
Total	13,969
Accumulated depreciation	(738)
Hyatt Place Las Vegas
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Debt	(16,951)
Initial cost of land	2,902
Initial cost of buildings and improvements	17,419
Subsequent costs capitalized for Land	0
Subsequent costs capitalized for buildings and improvements	1,727
Gross amount of land	2,902
Gross amount of buildings and improvements	19,147
Total	22,049
Accumulated depreciation	(1,008)
Hyatt Place Minneapolis Airport South
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Debt	(11,517)
Initial cost of land	2,519
Initial cost of buildings and improvements	11,810
Subsequent costs capitalized for Land	0
Subsequent costs capitalized for buildings and improvements	1,164
Gross amount of land	2,519
Gross amount of buildings and improvements	12,974
Total	15,493
Accumulated depreciation	(644)
Residence Inn Boise Downtown
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Debt	(8,555)
Initial cost of land	1,776
Initial cost of buildings and improvements	10,203
Subsequent costs capitalized for Land	0
Subsequent costs capitalized for buildings and improvements	2,257
Gross amount of land	1,776
Gross amount of buildings and improvements	12,459
Total	14,235
Accumulated depreciation	(618)
Residence Inn Portland Downtown Lloyd Center
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Debt	(32,508)
Initial cost of land	25,213
Initial cost of buildings and improvements	23,231
Subsequent costs capitalized for Land	0
Subsequent costs capitalized for buildings and improvements	511
Gross amount of land	25,213
Gross amount of buildings and improvements	23,742
Total	48,955
Accumulated depreciation	(1,326)
SpringHill Suites Grand Rapids North
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Debt	(9,952)
Initial cost of land	1,063
Initial cost of buildings and improvements	9,312
Subsequent costs capitalized for Land	0
Subsequent costs capitalized for buildings and improvements	75
Gross amount of land	1,063
Gross amount of buildings and improvements	9,387
Total	10,450
Accumulated depreciation	(458)
Hyatt Place Kansas City Overland Park Metcalf
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Debt	(7,679)
Initial cost of land	1,038
Initial cost of buildings and improvements	7,792
Subsequent costs capitalized for Land	0
Subsequent costs capitalized for buildings and improvements	1,565
Gross amount of land	1,039
Gross amount of buildings and improvements	9,357
Total	10,396
Accumulated depreciation	(524)
Courtyard Asheville
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Debt	(12,391)
Initial cost of land	2,236
Initial cost of buildings and improvements	10,290
Subsequent costs capitalized for Land	0
Subsequent costs capitalized for buildings and improvements	49
Gross amount of land	2,236
Gross amount of buildings and improvements	10,339
Total	12,575
Accumulated depreciation	(508)
Courtyard Dallas Market Center
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Debt	(18,115)
Initial cost of land	0
Initial cost of buildings and improvements	19,768
Subsequent costs capitalized for Land	0
Subsequent costs capitalized for buildings and improvements	2,358
Gross amount of land	0
Gross amount of buildings and improvements	22,127
Total	22,127
Accumulated depreciation	(1,081)
Fairfield Inn & Suites Dallas Market Center
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Debt	(8,566)
Initial cost of land	1,550
Initial cost of buildings and improvements	7,236
Subsequent costs capitalized for Land	1
Subsequent costs capitalized for buildings and improvements	19
Gross amount of land	1,552
Gross amount of buildings and improvements	7,256
Total	8,808
Accumulated depreciation	(362)
Hilton Garden Inn Austin Round Rock
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Debt	(12,016)
Initial cost of land	2,797
Initial cost of buildings and improvements	10,920
Subsequent costs capitalized for Land	2
Subsequent costs capitalized for buildings and improvements	1,960
Gross amount of land	2,799
Gross amount of buildings and improvements	12,880
Total	15,679
Accumulated depreciation	(576)
Residence Inn Los Angeles Airport El Segundo
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Debt	(33,991)
Initial cost of land	16,416
Initial cost of buildings and improvements	21,618
Subsequent costs capitalized for Land	13
Subsequent costs capitalized for buildings and improvements	1,856
Gross amount of land	16,429
Gross amount of buildings and improvements	23,474
Total	39,903
Accumulated depreciation	(1,147)
Residence Inn San Diego Rancho Bernardo Scripps Poway
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Debt	(23,251)
Initial cost of land	5,261
Initial cost of buildings and improvements	18,677
Subsequent costs capitalized for Land	0
Subsequent costs capitalized for buildings and improvements	0
Gross amount of land	5,261
Gross amount of buildings and improvements	18,677
Total	23,938
Accumulated depreciation	(928)
SpringHill Suites Austin Round Rock
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Debt	(8,087)
Initial cost of land	2,196
Initial cost of buildings and improvements	8,305
Subsequent costs capitalized for Land	(1)
Subsequent costs capitalized for buildings and improvements	126
Gross amount of land	2,196
Gross amount of buildings and improvements	8,431
Total	10,627
Accumulated depreciation	(436)
SpringHill Suites Houston Hobby Airport
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Debt	(10,835)
Initial cost of land	762
Initial cost of buildings and improvements	11,755
Subsequent costs capitalized for Land	2
Subsequent costs capitalized for buildings and improvements	103
Gross amount of land	763
Gross amount of buildings and improvements	11,858
Total	12,621
Accumulated depreciation	(584)
SpringHill Suites San Antonio Medical Center Northwest
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Debt	(5,272)
Initial cost of land	0
Initial cost of buildings and improvements	7,161
Subsequent costs capitalized for Land	0
Subsequent costs capitalized for buildings and improvements	911
Gross amount of land	0
Gross amount of buildings and improvements	8,072
Total	8,072
Accumulated depreciation	(355)
SpringHill Suites San Diego Rancho Bernardo Scripps Poway
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Debt	(19,197)
Initial cost of land	3,905
Initial cost of buildings and improvements	16,999
Subsequent costs capitalized for Land	(3)
Subsequent costs capitalized for buildings and improvements	1
Gross amount of land	3,902
Gross amount of buildings and improvements	17,000
Total	20,902
Accumulated depreciation	(840)
Hampton Inn Charlotte Gastonia
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Debt	(9,564)
Initial cost of land	1,357
Initial cost of buildings and improvements	10,073
Subsequent costs capitalized for Land	0
Subsequent costs capitalized for buildings and improvements	32
Gross amount of land	1,357
Gross amount of buildings and improvements	10,105
Total	11,462
Accumulated depreciation	(513)
Hampton Inn Dallas Addison
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Debt	(9,168)
Initial cost of land	1,538
Initial cost of buildings and improvements	7,475
Subsequent costs capitalized for Land	0
Subsequent costs capitalized for buildings and improvements	17
Gross amount of land	1,538
Gross amount of buildings and improvements	7,492
Total	9,030
Accumulated depreciation	(397)
Red Lion Inn & Suites Fayetteville I 95
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Debt	(5,307)
Initial cost of land	922
Initial cost of buildings and improvements	7,069
Subsequent costs capitalized for Land	(257)
Subsequent costs capitalized for buildings and improvements	(2,163)
Gross amount of land	664
Gross amount of buildings and improvements	4,906
Total	5,570
Accumulated depreciation	(74)
Homewood Suites San Antonio Northwest
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Debt	(13,720)
Initial cost of land	1,998
Initial cost of buildings and improvements	13,060
Subsequent costs capitalized for Land	0
Subsequent costs capitalized for buildings and improvements	3,634
Gross amount of land	1,998
Gross amount of buildings and improvements	16,694
Total	18,692
Accumulated depreciation	(784)
Courtyard Dalton
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Debt	(7,827)
Initial cost of land	676
Initial cost of buildings and improvements	8,241
Subsequent costs capitalized for Land	1
Subsequent costs capitalized for buildings and improvements	1,597
Gross amount of land	677
Gross amount of buildings and improvements	9,839
Total	10,516
Accumulated depreciation	(498)
Hampton Inn Orlando International Drive Convention Center
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Debt	(13,762)
Initial cost of land	1,183
Initial cost of buildings and improvements	14,899
Subsequent costs capitalized for Land	0
Subsequent costs capitalized for buildings and improvements	90
Gross amount of land	1,183
Gross amount of buildings and improvements	14,990
Total	16,173
Accumulated depreciation	(721)
Hilton Garden Inn Albuquerque North Rio Rancho
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Debt	(9,454)
Initial cost of land	1,141
Initial cost of buildings and improvements	9,818
Subsequent costs capitalized for Land	1
Subsequent costs capitalized for buildings and improvements	32
Gross amount of land	1,142
Gross amount of buildings and improvements	9,850
Total	10,992
Accumulated depreciation	(513)
Homewood Suites Orlando International Drive Convention Center
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Debt	(24,291)
Initial cost of land	2,182
Initial cost of buildings and improvements	26,507
Subsequent costs capitalized for Land	6
Subsequent costs capitalized for buildings and improvements	946
Gross amount of land	2,187
Gross amount of buildings and improvements	27,452
Total	29,639
Accumulated depreciation	(1,284)
Hampton Inn Chicago Naperville
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Debt	(9,292)
Initial cost of land	1,363
Initial cost of buildings and improvements	9,460
Subsequent costs capitalized for Land	0
Subsequent costs capitalized for buildings and improvements	9
Gross amount of land	1,363
Gross amount of buildings and improvements	9,469
Total	10,832
Accumulated depreciation	(557)
Hampton Inn Indianapolis Northeast Castleton
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Debt	(11,025)
Initial cost of land	1,587
Initial cost of buildings and improvements	8,144
Subsequent costs capitalized for Land	0
Subsequent costs capitalized for buildings and improvements	49
Gross amount of land	1,587
Gross amount of buildings and improvements	8,193
Total	9,780
Accumulated depreciation	(604)
Hampton Inn Knoxville Airport
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Debt	(6,448)
Initial cost of land	1,033
Initial cost of buildings and improvements	5,898
Subsequent costs capitalized for Land	0
Subsequent costs capitalized for buildings and improvements	0
Gross amount of land	1,033
Gross amount of buildings and improvements	5,898
Total	6,931
Accumulated depreciation	(413)
Hampton Inn Milford
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Debt	(4,092)
Initial cost of land	1,652
Initial cost of buildings and improvements	5,060
Subsequent costs capitalized for Land	0
Subsequent costs capitalized for buildings and improvements	91
Gross amount of land	1,652
Gross amount of buildings and improvements	5,151
Total	6,803
Accumulated depreciation	(439)
Homewood Suites Augusta
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Debt	(6,837)
Initial cost of land	874
Initial cost of buildings and improvements	8,225
Subsequent costs capitalized for Land	0
Subsequent costs capitalized for buildings and improvements	1,552
Gross amount of land	874
Gross amount of buildings and improvements	9,777
Total	10,651
Accumulated depreciation	(510)
Homewood Suites Seattle Downtown
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Debt	(52,632)
Initial cost of land	12,580
Initial cost of buildings and improvements	41,011
Subsequent costs capitalized for Land	0
Subsequent costs capitalized for buildings and improvements	4,499
Gross amount of land	12,580
Gross amount of buildings and improvements	45,510
Total	58,090
Accumulated depreciation	(1,891)
Hampton Inn Champaign Urbana
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Debt	(16,967)
Initial cost of land	2,206
Initial cost of buildings and improvements	17,451
Subsequent costs capitalized for Land	0
Subsequent costs capitalized for buildings and improvements	0
Gross amount of land	2,206
Gross amount of buildings and improvements	17,451
Total	19,657
Accumulated depreciation	(844)
Hampton Inn East Lansing
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Debt	(10,681)
Initial cost of land	3,219
Initial cost of buildings and improvements	10,101
Subsequent costs capitalized for Land	0
Subsequent costs capitalized for buildings and improvements	205
Gross amount of land	3,219
Gross amount of buildings and improvements	10,306
Total	13,525
Accumulated depreciation	(519)
Hilton Garden Inn Louisville East
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Debt	(15,059)
Initial cost of land	1,022
Initial cost of buildings and improvements	16,350
Subsequent costs capitalized for Land	1
Subsequent costs capitalized for buildings and improvements	139
Gross amount of land	1,023
Gross amount of buildings and improvements	16,489
Total	17,512
Accumulated depreciation	(803)
Residence Inn Jacksonville Airport
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Debt	(5,697)
Initial cost of land	1,451
Initial cost of buildings and improvements	6,423
Subsequent costs capitalized for Land	0
Subsequent costs capitalized for buildings and improvements	2,187
Gross amount of land	1,451
Gross amount of buildings and improvements	8,610
Total	10,061
Accumulated depreciation	(522)
TownePlace Suites Savannah Midtown
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Debt	(10,339)
Initial cost of land	1,502
Initial cost of buildings and improvements	7,827
Subsequent costs capitalized for Land	0
Subsequent costs capitalized for buildings and improvements	0
Gross amount of land	1,502
Gross amount of buildings and improvements	7,827
Total	9,329
Accumulated depreciation	(402)
Courtyard Houston I 10 West Energy Corridor
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Debt	(19,536)
Initial cost of land	10,444
Initial cost of buildings and improvements	20,710
Subsequent costs capitalized for Land	6
Subsequent costs capitalized for buildings and improvements	2,805
Gross amount of land	10,449
Gross amount of buildings and improvements	23,516
Total	33,965
Accumulated depreciation	(1,169)
Courtyard San Diego Carlsbad
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Debt	(18,868)
Initial cost of land	5,080
Initial cost of buildings and improvements	14,007
Subsequent costs capitalized for Land	9
Subsequent costs capitalized for buildings and improvements	46
Gross amount of land	5,090
Gross amount of buildings and improvements	14,053
Total	19,143
Accumulated depreciation	(725)
Hampton Inn Austin North @ IH 35 & Highway 183
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Debt	(13,782)
Initial cost of land	1,774
Initial cost of buildings and improvements	9,798
Subsequent costs capitalized for Land	2
Subsequent costs capitalized for buildings and improvements	303
Gross amount of land	1,776
Gross amount of buildings and improvements	10,101
Total	11,877
Accumulated depreciation	(504)
SpringHill Suites Asheville
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Debt	(14,284)
Initial cost of land	2,149
Initial cost of buildings and improvements	9,930
Subsequent costs capitalized for Land	0
Subsequent costs capitalized for buildings and improvements	57
Gross amount of land	2,149
Gross amount of buildings and improvements	9,988
Total	12,137
Accumulated depreciation	(490)
Hampton Inn College Station
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Debt	(13,873)
Initial cost of land	3,306
Initial cost of buildings and improvements	10,523
Subsequent costs capitalized for Land	0
Subsequent costs capitalized for buildings and improvements	140
Gross amount of land	3,306
Gross amount of buildings and improvements	10,664
Total	13,970
Accumulated depreciation	(523)
Courtyard Flagstaff
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Debt	(19,849)
Initial cost of land	5,258
Initial cost of buildings and improvements	24,313
Subsequent costs capitalized for Land	0
Subsequent costs capitalized for buildings and improvements	55
Gross amount of land	5,258
Gross amount of buildings and improvements	24,368
Total	29,626
Accumulated depreciation	(853)
DoubleTree Baton Rouge
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Debt	(11,978)
Initial cost of land	1,497
Initial cost of buildings and improvements	14,777
Subsequent costs capitalized for Land	0
Subsequent costs capitalized for buildings and improvements	49
Gross amount of land	1,497
Gross amount of buildings and improvements	14,826
Total	16,324
Accumulated depreciation	(664)
Fairfield Inn & Suites Baton Rouge South
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Debt	(3,422)
Initial cost of land	971
Initial cost of buildings and improvements	3,391
Subsequent costs capitalized for Land	0
Subsequent costs capitalized for buildings and improvements	42
Gross amount of land	971
Gross amount of buildings and improvements	3,433
Total	4,404
Accumulated depreciation	(170)
Hampton Inn Medford
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Debt	(8,556)
Initial cost of land	1,245
Initial cost of buildings and improvements	10,353
Subsequent costs capitalized for Land	0
Subsequent costs capitalized for buildings and improvements	0
Gross amount of land	1,245
Gross amount of buildings and improvements	10,353
Total	11,598
Accumulated depreciation	(365)
Hampton Inn Fort Wayne Southwest
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Debt	(8,898)
Initial cost of land	1,242
Initial cost of buildings and improvements	10,511
Subsequent costs capitalized for Land	0
Subsequent costs capitalized for buildings and improvements	0
Gross amount of land	1,242
Gross amount of buildings and improvements	10,512
Total	11,754
Accumulated depreciation	(425)
Hampton Inn & Suites El Paso Airport
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Debt	(13,347)
Initial cost of land	1,641
Initial cost of buildings and improvements	18,733
Subsequent costs capitalized for Land	0
Subsequent costs capitalized for buildings and improvements	0
Gross amount of land	1,641
Gross amount of buildings and improvements	18,733
Total	20,374
Accumulated depreciation	(713)
Residence Inn Fort Wayne Southwest
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Debt	(10,609)
Initial cost of land	1,267
Initial cost of buildings and improvements	12,136
Subsequent costs capitalized for Land	0
Subsequent costs capitalized for buildings and improvements	8
Gross amount of land	1,267
Gross amount of buildings and improvements	12,144
Total	13,411
Accumulated depreciation	(429)
SpringHill Suites Baton Rouge South
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Debt	(4,449)
Initial cost of land	1,131
Initial cost of buildings and improvements	5,744
Subsequent costs capitalized for Land	0
Subsequent costs capitalized for buildings and improvements	44
Gross amount of land	1,131
Gross amount of buildings and improvements	5,788
Total	6,919
Accumulated depreciation	(216)
SpringHill Suites Flagstaff
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Debt	(10,951)
Initial cost of land	1,641
Initial cost of buildings and improvements	14,283
Subsequent costs capitalized for Land	0
Subsequent costs capitalized for buildings and improvements	61
Gross amount of land	1,641
Gross amount of buildings and improvements	14,344
Total	15,985
Accumulated depreciation	(567)
TownePlace Suites Baton Rouge South
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Debt	(4,791)
Initial cost of land	1,055
Initial cost of buildings and improvements	6,173
Subsequent costs capitalized for Land	0
Subsequent costs capitalized for buildings and improvements	17
Gross amount of land	1,055
Gross amount of buildings and improvements	6,190
Total	7,245
Accumulated depreciation	(257)
Courtyard Columbus Downtown
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Debt	(21,051)
Initial cost of land	2,367
Initial cost of buildings and improvements	25,191
Subsequent costs capitalized for Land	0
Subsequent costs capitalized for buildings and improvements	61
Gross amount of land	2,367
Gross amount of buildings and improvements	25,252
Total	27,619
Accumulated depreciation	(726)
Hilton Garden Inn Monterey
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Debt	(19,333)
Initial cost of land	6,110
Initial cost of buildings and improvements	27,713
Subsequent costs capitalized for Land	0
Subsequent costs capitalized for buildings and improvements	0
Gross amount of land	6,110
Gross amount of buildings and improvements	27,713
Total	33,823
Accumulated depreciation	(1,131)
Hyatt House Atlanta Cobb Galleria
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Debt	(21,230)
Initial cost of land	4,386
Initial cost of buildings and improvements	22,777
Subsequent costs capitalized for Land	0
Subsequent costs capitalized for buildings and improvements	12
Gross amount of land	4,386
Gross amount of buildings and improvements	22,788
Total	27,174
Accumulated depreciation	(673)
Hyatt Place Chicago Schaumburg
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Debt	(6,637)
Initial cost of land	1,519
Initial cost of buildings and improvements	9,582
Subsequent costs capitalized for Land	0
Subsequent costs capitalized for buildings and improvements	57
Gross amount of land	1,519
Gross amount of buildings and improvements	9,639
Total	11,158
Accumulated depreciation	(414)
Fairfield Inn & Suites Spokane
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Debt	(8,964)
Initial cost of land	1,732
Initial cost of buildings and improvements	10,750
Subsequent costs capitalized for Land	0
Subsequent costs capitalized for buildings and improvements	0
Gross amount of land	1,733
Gross amount of buildings and improvements	10,749
Total	12,482
Accumulated depreciation	(275)
Fairfield Inn & Suites Denver
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Debt	(11,620)
Initial cost of land	1,429
Initial cost of buildings and improvements	15,675
Subsequent costs capitalized for Land	0
Subsequent costs capitalized for buildings and improvements	0
Gross amount of land	1,430
Gross amount of buildings and improvements	15,675
Total	17,105
Accumulated depreciation	(405)
Springhill Suites Denver
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Debt	(8,632)
Initial cost of land	941
Initial cost of buildings and improvements	10,870
Subsequent costs capitalized for Land	0
Subsequent costs capitalized for buildings and improvements	49
Gross amount of land	941
Gross amount of buildings and improvements	10,918
Total	11,859
Accumulated depreciation	(310)
Hampton Inn Ft. Collins
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Debt	(5,976)
Initial cost of land	641
Initial cost of buildings and improvements	5,578
Subsequent costs capitalized for Land	0
Subsequent costs capitalized for buildings and improvements	0
Gross amount of land	641
Gross amount of buildings and improvements	5,577
Total	6,218
Accumulated depreciation	(176)
Fairfield Inn & Suites Bellevue
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Debt	(22,244)
Initial cost of land	18,769
Initial cost of buildings and improvements	14,182
Subsequent costs capitalized for Land	0
Subsequent costs capitalized for buildings and improvements	0
Gross amount of land	18,769
Gross amount of buildings and improvements	14,182
Total	32,951
Accumulated depreciation	(438)
Hilton Garden Inn Ft. Collins
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Debt	(12,948)
Initial cost of land	1,331
Initial cost of buildings and improvements	17,606
Subsequent costs capitalized for Land	0
Subsequent costs capitalized for buildings and improvements	0
Gross amount of land	1,331
Gross amount of buildings and improvements	17,605
Total	18,936
Accumulated depreciation	$ (480)

Schedule III - Real Estate an83

Schedule III - Real Estate and Accumulated Depreciation - Summary of Activity for Accumulated Depreciation (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Land, buildings and improvements, at cost:
Balance at January 1	$ 2,047,831	$ 93,237	$ 89,666
Additions:	99,727	1,917,101	0
Capital improvements	43,030	37,493	3,571
Dispositions	(9,744)	0	0
Impairment of depreciable assets	(2,430)	0	0
Balance at December 31	2,178,414	2,047,831	93,237
Accumulated depreciation and amortization:
Balance at January 1	(39,252)	(1,569)	0
Depreciation expense	(54,377)	(37,683)	(1,569)
Dispositions and other	781
Balance at December 31	$ (92,848)	$ (39,252)	$ (1,569)