XML 34 R24.htm IDEA: XBRL DOCUMENT

Transactions with Unconsolidated Joint Ventures	9 Months Ended
Transactions with Unconsolidated Joint Ventures	Sep. 30, 2016
Equity Method Investments and Joint Ventures [Abstract]
Transactions with Unconsolidated Joint Ventures	Transactions with Unconsolidated Joint Ventures In March 2016, the Company entered into a promissory note with an individual who is a member of one of the Company's unconsolidated joint ventures. The Company advanced $4.0 million for the member to purchase the Company's interest in the unconsolidated joint venture for $2.4 million and fund the development of the property into a Cambria hotel & suites hotel. A deferred gain of $0.2 million will be recognized when the promissory note matures on March 1, 2019. The promissory note bears interest at a fixed rate and is payable monthly. The Company signed a management fee arrangement for marketing services with a joint venture partner. For the three and nine months ended September 30, 2016, fees earned and payroll costs reimbursed under this arrangement totaled $0.4 million and $0.6 million, respectively.