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Discontinued Operations
 6 Months Ended
Jun. 30, 2011
Discontinued Operations [Abstract]  
Disposal Groups, Including Discontinued Operations, Disclosure [Text Block]
Discontinued Operations


We had three hotels held for sale at June 30, 2011.  We consider a sale to be probable within the next twelve months (for purposes of determining whether a hotel is held for sale) when a buyer completes its due diligence review of the asset, we have an executed contract for sale, and we have received a substantial non-refundable deposit.


Discontinued operations include results of operations for three hotels designated as held for sale at June 30, 2011, three hotels sold during the quarter ended June 30, 2011, and three hotels disposed in 2010.  The following table summarizes the condensed financial information for those hotels (in thousands):


 
Three Months Ended
 
Six Months Ended
 
June 30,
 
June 30,
 
2011
 
2010
 
2011
 
2010
Hotel operating revenue
$
8,811


 
 
$
21,633


 
 
$
20,665


 
 
$
39,619


 
Operating expenses
(8,447
)
(a) 
 
(21,283
)
 
 
(19,098
)
(a) 
 
(62,303
)
(b) 
Operating income (loss) from discontinued
    operations
$
364


 
 
$
350


 
 
$
1,567


 
 
$
(22,684
)
 
Interest expense, net
(335
)
 
 
(1,318
)
 
 
(709
)
 
 
(2,832
)
 
Debt extinguishment
(50
)
 
 
(126
)
 
 
(57
)
 
 
(126
)
 
Gain on sale of hotels, net
6,660


 
 
—


 
 
6,660


 
 
—


 
Income (loss) from discontinued operations
$
6,639


 
 
$
(1,094
)
 
 
$
7,461


 
 
$
(25,642
)
 


(a)
Includes an impairment charge of $598,000.
(b)
Includes an impairment charge of $21.1 million.