Sale of Hotel Properties

During the Successor period of September 1, 2017 through December 31, 2017, the Company sold one hotel property for a sale price of approximately $170.0 million. In conjunction with this transaction, the Company recorded a $6.6 million loss on sale which is included in loss on sale of hotel properties in the accompanying consolidated statement of operations and comprehensive income. The loss on sale was due to a $7.7 million lease termination payment as a result of early terminating the TRS Lease with the lessee of the hotel property.

The following table discloses the hotel property that was sold during the Successor period of September 1, 2017 through December 31, 2017:



Hotel Property Name	Location	Sale Date	Rooms
The Fairmont Copley Plaza	Boston, MA	December 14, 2017	383
		Total	383

On February 21, 2018, the Company sold the Embassy Suites Boston Marlborough for $23.7 million.

During the Predecessor period of January 1, 2017 through August 31, 2017, the Company sold two hotel properties in two separate transactions for a total sale price of approximately $92.0 million. In conjunction with these transactions, the Company recorded a $1.6 million loss on sale, which is included in the accompanying consolidated statement of operations.

The following table discloses the hotel properties that were sold during the Predecessor period of January 1, 2017 through August 31, 2017:



Hotel Property Name	Location	Sale Date	Rooms
Morgans New York	New York, NY	July 17, 2017	117
Royalton New York	New York, NY	August 1, 2017	168
		Total	285

During the Predecessor year ended December 31, 2016, the Company sold two hotel properties in two separate transactions for a total sale price of approximately $107.5 million. In conjunction with these transactions, the Company recorded a $7.5 million net gain on sale, which is included in the accompanying consolidated statement of operations.

The following table discloses the hotel properties that were sold during the Predecessor year ended December 31, 2016:



Hotel Property Name	Location	Sale Date	Rooms
Renaissance Esmeralda Indian Wells Resort & Spa	Indian Wells, CA	August 2, 2016	560
Holiday Inn Nashville Airport	Nashville, TN	September 1, 2016	383
		Total	943

During the Predecessor year ended December 31, 2015, the Company sold seven hotel properties in seven separate transactions for a total sale price of approximately $176.0 million. In conjunction with these transactions, the Company recorded a $19.9 million net gain on sale, which is included in the accompanying consolidated statement of operations.

The following table discloses the hotel properties that were sold during the Predecessor year ended December 31, 2015:



Hotel Property Name	Location	Sale Date	Rooms
Embassy Suites Raleigh	Raleigh, NC	February 10, 2015	225
Westin - Dallas Park Central	Dallas, TX	February 12, 2015	536
Embassy Suites San Antonio Airport	San Antonio, TX	March 17, 2015	261
Embassy Suites San Antonio Northwest	San Antonio, TX	June 30, 2015	216
Embassy Suites Austin	Austin, TX	June 30, 2015	260
Holiday Inn Select Orlando International Airport	Orlando, FL	July 21, 2015	288
Embassy Suites Chicago - Lombard	Lombard, IL	September 18, 2015	262
		Total	2,048

During the Predecessor year ended December 31, 2015, one of the Company's unconsolidated joint ventures sold a hotel for a sale price of $32.0 million (our pro rata share was $16.0 million). In conjunction with this transaction, the Company recorded a $7.1 million gain that we included in our equity in income from unconsolidated entities.

The following table includes the condensed financial information primarily related to the two hotel properties that were sold during the Predecessor period of January 1, 2017 through August 31, 2017, the two hotel properties that were sold during the Predecessor year ended December 31, 2016, and the eight hotel properties that were sold during the Predecessor year ended December 31, 2015 included in continuing operations (in thousands):



	Predecessor
	January 1 through August 31,			For the year ended December 31,			For the year ended December 31,
	2017			2016			2015
Total revenue	$	14,159		$	70,181		$	117,059
Operating expense (1)	(53,930		)	(94,632		)	(132,545		)
Operating loss	(39,771		)	(24,451		)	(15,486		)
Interest income (expense)	—			1			(1,031		)
Loss on debt extinguishment	—			—			(309		)
Equity in income from unconsolidated joint ventures	—			—			7,111
Loss from continuing operations	(39,771		)	(24,450		)	(9,715		)
(Loss) gain on sale of hotel properties	(1,764		)	6,322			19,426
Net income (loss)	(41,535		)	(18,128		)	9,711
Net income attributable to noncontrolling interests in consolidated joint ventures	—			—			(5,166		)
Net loss (income) attributable to redeemable noncontrolling interests in FelCor LP	179			78			(19		)
Net (loss) income attributable to FelCor	$	(41,356	)	$	(18,050	)	$	4,526


(1)	The operating expenses include impairment losses of $35.1 million for the period of January 1, 2017 through August 31, 2017, and $26.5 million and $20.9 million for the years ended December 31, 2016 and 2015, respectively.