XML 35 R22.htm IDEA: XBRL DOCUMENT v3.10.0.1
Merger with RLJ Lodging Trust (Tables)
6 Months Ended
Jun. 30, 2018
Business Combinations [Abstract]  
Schedule of Allocation of Purchase Price
The following table reflects the new basis of accounting for the assets and liabilities that existed on the Acquisition Date and the impact of the distribution of the equity interests in FelCor TRS to RLJ LP:
 
August 31, 2017
 
New Basis Before
FelCor TRS Distribution
 
FelCor TRS
Distribution
 
New Basis After
FelCor TRS Distribution
Investment in hotel properties
$
2,661,114

 
$
(2,000
)
 
$
2,659,114

Investment in unconsolidated joint ventures
25,651

 
(7,900
)
 
17,751

Cash and cash equivalents
47,396

 
(40,878
)
 
6,518

Restricted cash reserves
17,038

 
(10,989
)
 
6,049

Hotel and other receivables
28,308

 
(28,308
)
 

Deferred income tax assets
58,170

 
(58,170
)
 

Intangible assets
139,673

 
(20,262
)
 
119,411

Prepaid expenses and other assets
23,811

 
(11,417
)
 
12,394

Debt
(1,305,337
)
 

 
(1,305,337
)
Accounts payable and other liabilities
(118,360
)
 
52,995

 
(65,365
)
Advance deposits and deferred revenue
(23,795
)
 
23,795

 

Accrued interest
(22,612
)
 

 
(22,612
)
Distributions payable
(4,312
)
 

 
(4,312
)
Total equity
$
1,526,745

 
$
(103,134
)
 
$
1,423,611


Schedule of Finite-Lived Intangible Assets Acquired as Part of Business Combination [Table Text Block]
The Company recognized the following intangible assets in the Mergers (dollars in thousands):
 
 
 
 
Weighted Average Amortization Period
(in Years)
Below market ground leases
 
$
118,050

 
54
Advanced bookings
 
13,862

 
1
Other intangible assets
 
7,761

 
6
Total intangible assets
 
$
139,673

 
46