ACQUISITIONS AND DISPOSITIONS (Tables)

6 Months Ended

Jun. 30, 2016

Disposition

Schedule of assets sold to third party

Property	Asset Type	Date of Sale	Rooms		Sales Price		Gain on Sale
					(in thousands)
Courtyard Oakland, Oakland, CA	Hotel	February 2, 2016		162	$	43,800	$	24,739

Held for sale | LAX Holiday Inn located in the LAX submarket of Los Angeles, California

Disposition

Reconciliation of the carrying amounts of assets and liabilities that are classified as held for sale

        The following is a reconciliation of the carrying amounts of assets and liabilities of LAX Holiday Inn that are classified as held for sale on the consolidated balance sheets as of June 30, 2016:

	(in thousands)
Assets
Investments in real estate, net	$	36,839
Cash and cash equivalents		3,986
Restricted cash		709
Accounts receivable, net		799
Other assets		286
Total assets	$	42,619
Liabilities
Accounts payable and accrued expenses	$	1,152
Other liabilities		40
Total liabilities	$	1,192