BORROWINGS (Tables)

9 Months Ended

Sep. 30, 2014

Debt Disclosure [Abstract]

Credit Facilities and Other Debt of the Company and Related Borrowings Outstanding

The credit facilities and other debt of the Company and related borrowings outstanding are as follows (in thousands): 

	As of September 30, 2014				December 31, 2013
	Maximum Amount of Facility		Borrowings Outstanding		Borrowings Outstanding
Credit facilities:
TD Bank – secured revolving credit facility (1)	$	10,997	$	—	$	—
Republic Bank – secured revolving credit facility	3,000		—		—
			—		—
Other debt:
Senior Notes			10,000		10,000
Mortgage debt - hotel property			10,140		10,287
Other debt			311		332
Total borrowings outstanding			$	20,451	$	20,619

(1) The amount of the facility as shown has been reduced for outstanding letters of credit of $503,000 at September 30, 2014.

Annual Principal Payments on the Company's Aggregate Borrowings Over the Next Five Years and Thereafter

Annual principal payments on the Company’s aggregate borrowings for the next five years ending September 30, 2014, and thereafter, are as follows (in thousands):

2015	$	432
2016	270
2017	274
2018	10,252
2019	269
Thereafter	8,954
Total	$	20,451