Investment in Affiliates

6 Months Ended

Jun. 30, 2015

Investments In And Advances To Affiliates Schedule Of Investments [Abstract]

Investment in Affiliates

6. Investment in Affiliates

On June 5, 2015 the Euro JV Fund I sold the Crowne Plaza Hotel Amsterdam City Centre for €106 million ($118 million), which includes the €3 million ($3 million) FF&E reserve, for a gain of approximately €36 million ($40 million). In connection with the sale, the Euro JV Fund I repaid the €44 million ($49 million) mortgage loan associated with the property. Subsequent to quarter end, on July 8, 2015, the European joint venture distributed proceeds of the sale to its Fund I partners, of which Host’s share was approximately €19 million ($21 million). Additionally, in July 2015, the Euro JV Fund II partners amended the Euro JV partnership agreement to extend the commitment period for Euro JV Fund II by one year to June 27, 2016.