XML 32 R17.htm IDEA: XBRL DOCUMENT v3.8.0.1
Contingencies
9 Months Ended
Sep. 30, 2017
Loss Contingency [Abstract]  
Contingencies

11.Contingencies

All of our hotels in Houston and Florida were affected by Hurricanes Harvey and Irma in August and September 2017, respectively. All four of our hotels in Houston were able to remain operational during the hurricane. In Florida, due to evacuation mandates and loss of commercial power, seven of the nine properties were closed for a period of time. We are still evaluating the property and business interruption impact to our hotels. However, our current estimate of the book value of the property and equipment written off, and the related repairs and cleanup costs, is approximately $31 million and have recorded a corresponding insurance receivable of $31 million. We believe our insurance coverage should be sufficient to cover a substantial portion of the property damage to the hotels and the near-term loss of business.