Investment in Unconsolidated Entities

12 Months Ended

Dec. 31, 2013

Investment in Unconsolidated Entities [Abstract]

Investment in Unconsolidated Entities

Investment in Unconsolidated Entities

We owned 50% interests in joint ventures that owned 13 hotels at December 31, 2013 and December 31, 2012. We also owned 50% interests in entities that provide condominium management services and own real estate in Myrtle Beach, South Carolina. We account for our investments in these unconsolidated entities under the equity method. We do not have any majority-owned subsidiaries that are not consolidated in our financial statements. We make adjustments to our equity in income from unconsolidated entities related to the difference between our basis in investment in unconsolidated entities compared to the historical basis of the assets recorded by the joint ventures.

9. Investment in Unconsolidated Entities — (continued)

The following table summarizes combined balance sheet information for our unconsolidated entities (in thousands):

	December 31,
	2013		2012
Investment in hotels, net of accumulated depreciation	$	140,145	$	155,888
Total assets	$	155,848	$	170,477
Debt	$	146,358	$	148,395
Total liabilities	$	152,068	$	154,139
Equity	$	3,780	$	16,338

Our unconsolidated entities’ debt at December 31, 2013, consisted entirely of non-recourse mortgage debt.

The following table sets forth summarized combined statement of operations information for our unconsolidated entities and a reconciliation of the net income (loss) attributable to FelCor and our equity in income (loss) from unconsolidated entities (in thousands):

	Year Ended December 31,
	2013			2012			2011
Total revenues	$	70,697		$	67,725		$	62,782
Net income (loss)	$	12,892		$	9,278		$	(416	)
Net income (loss) attributable to FelCor	$	6,446		$	4,639		$	(208	)
Depreciation of cost in excess of book value	(1,860		)	(1,860		)	(1,860		)
Equity in income (loss) from unconsolidated entities	$	4,586		$	2,779		$	(2,068	)

The following table summarizes the components of our investment in unconsolidated entities (in thousands):

	December 31,
	2013			2012
Hotel-related investments	$	(6,349	)	$	246
Cost in excess of book value of hotel investments	45,053			46,913
Land and condominium investments	8,239			7,923
	$	46,943		$	55,082

The following table summarizes the components of our equity in income (loss) from unconsolidated entities (in thousands):

	Year Ended December 31,
	2013			2012			2011
Hotel investments	$	5,270		$	3,434		$	(1,348	)
Other investments	(684		)	(655		)	(720		)
Equity in income (loss) from unconsolidated entities	$	4,586		$	2,779		$	(2,068	)