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Investment in Hotel Properties, net (Tables)
6 Months Ended
Jun. 30, 2013
Schedule of Equity Method Investments [Line Items]  
Schedule of Investment in Hotel Properties
Investments in hotel properties, net consisted of the following (in thousands):
 
June 30,
2013
 
December 31,
2012
Land
$
523,708

 
$
483,242

Buildings and improvements
2,820,311

 
2,779,589

Furniture, fixtures, and equipment
215,204

 
224,907

Construction in progress
8,997

 
10,499

Condominium properties
12,590

 
12,690

Total cost
3,580,810

 
3,510,927

Accumulated depreciation
(642,258
)
 
(638,623
)
Investments in hotel properties, net
$
2,938,552

 
$
2,872,304

Pier House Resort [Member]
 
Schedule of Equity Method Investments [Line Items]  
Schedule of Assets Acquired and Liabilities Assumed
The following table summarizes the preliminary estimated fair value of the assets acquired and liabilities assumed in the acquisition (in thousands):
    
    
 
 
Land
$
40,466

Buildings and improvements
40,466

Furniture, fixtures, and equipment
8,993

 
89,925

Net other assets and liabilities
(1,691
)
Total
$
88,234

Pro Forma Information
The following table reflects the unaudited pro forma results of operations as if the acquisition had occurred on January 1, 2012, reflecting the addition of the Pier House operating results for the applicable periods from January 1, 2012 through May 13, 2013 and the removal of the $747,000 of transaction costs for the three and six months ended June 30, 2013 (in thousands):

 
Three Months Ended June 30,
 
Six Months Ended June 30,
 
2013
 
2012
 
2013
 
2012
Total revenue
$
261,248

 
$
245,742

 
$
499,142

 
$
468,333

Income (loss) from continuing operations
$
9,436

 
$
513

 
$
(6,132
)
 
$
(21,985
)
Net income (loss)
$
9,436

 
$
(4,208
)
 
$
(6,132
)
 
$
(26,539
)