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Investment in Unconsolidated Entities
 12 Months Ended
Dec. 31, 2017
Investment in Unconsolidated Entities [Abstract]  
Investment in Unconsolidated Entities
Investment in Unconsolidated Joint Ventures
 
As of December 31, 2017 and 2016, the Company owned 50% interests in joint ventures that owned two hotel properties. For the Predecessor period, FelCor also owned 50% interests in joint ventures that owned real estate and a condominium management business that was associated with two of its resort hotel properties. The Company accounts for the investments in these unconsolidated joint ventures under the equity method of accounting. The Company makes adjustments to the equity in income from unconsolidated joint ventures related to the difference between the Company's basis in the investment in the unconsolidated joint ventures as compared to the historical basis of the assets and liabilities of the joint ventures. As of December 31, 2017 and 2016, the unconsolidated entities' debt consisted entirely of non-recourse mortgage debt.

The following table summarizes the components of the Company's investments in unconsolidated joint ventures (in thousands):
 
Successor
 
 
 
Predecessor
 
December 31, 2017
 
 
December 31, 2016
Equity basis of the joint venture investments
$
(4,733
)
 
 
$
1,370

Cost of the joint venture investments in excess of the joint venture book value
21,645

 
 
6,942

Investment in unconsolidated joint ventures
$
16,912

 
 
$
8,312

The following table summarizes the components of the Company's equity in income from unconsolidated joint ventures (in thousands):
 
Successor
 
 
 
Predecessor
 
September 1 through December 31,
 
 
January 1 through
August 31,
 
For the
year ended December 31,
 
For the
year ended December 31,
 
2017
 
 
2017
 
2016
 
2015
Unconsolidated joint ventures net income attributable to the Company
$
1,034

 
 
$
1,332

 
$
1,920

 
$
11,400

Depreciation of cost in excess of book value
(373
)
 
 
(258
)
 
(387
)
 
(427
)
Cost in excess of book value of a sold hotel property
—

 
 
—

 
—

 
(3,140
)
Equity in income from unconsolidated joint ventures
$
661

 
 
$
1,074

 
$
1,533

 
$
7,833



During the Predecessor year ended December 31, 2015, the Company sold its 50% interest in a joint venture that owned the Embassy Suites Charlotte hotel property for a sale price of approximately $32.0 million. In conjunction with this transaction, the Company recorded a $7.1 million gain on sale, which is included in equity in income from unconsolidated joint ventures in the accompanying consolidated statement of operations and comprehensive income.