Discontinued Operations

12 Months Ended

Dec. 31, 2016

Discontinued Operations and Disposal Groups [Abstract]

Discontinued Operations

Discontinued Operations

In the first quarter of 2014, the Company's management approved a plan to sell the three Company-owned hotels operated under the MainStay Suites brand. The Company determined that this disposal transaction met the definition of a discontinued operation since the operations and cash flows of this component would be eliminated from the on-going operations of the Company and the Company will not have significant continuing involvement in the operations of the hotels after the disposal transaction.

The operations related to these three Company-owned hotels were reported as a component of "Corporate and Other" for segment reporting purposes. The results of operations for the year ended December 31, 2014 presented in these Consolidated Financial Statements reflect these three Company-owned hotels as discontinued operations. There was no impact on 2016 or 2015 from these discontinued operations. Unless noted otherwise, discussion in the notes to the consolidated financial statements pertain to continuing operations. Summarized financial information related to the discontinued operations is as follows:

	For the Year Ended December 31,
	2014
	(in thousands)
Revenues
Hotel operations	$	801
Total revenues	801
Operating Expenses
Hotel operations	927
Total operating expenses	927
Operating income (loss)	(126		)
Gain on disposal of discontinued operations	2,807
Income from discontinued operations before income taxes	2,681
Income taxes	994
Income from discontinued operations, net of income taxes	$	1,687