Investment in Unconsolidated Entities

12 Months Ended

Dec. 31, 2018

Investment in Unconsolidated Entities [Abstract]

Investment in Unconsolidated Joint Ventures

As of December 31, 2018 and 2017, 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, 2018 and 2017, 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):



	December 31, 2018			December 31, 2017
Equity basis of the joint venture investments	$	(4,810	)	$	(4,733	)
Cost of the joint venture investments in excess of the joint venture book value	20,526			21,645
Investment in unconsolidated joint ventures	$	15,716		$	16,912

The following table summarizes the components of the Company's equity in income from unconsolidated joint ventures (in thousands):



	Successor						Predecessor
	For the year ended December 31,			September 1 through December 31,			January 1 through August 31,			For the year ended December 31,
	2018			2017			2017			2016
Unconsolidated joint ventures net income attributable to the Company	$	2,514		$	1,034		$	1,332		$	1,920
Depreciation of cost in excess of book value	(1,119		)	(373		)	(258		)	(387		)
Equity in income from unconsolidated joint ventures	$	1,395		$	661		$	1,074		$	1,533