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Hotel Dispositions
 12 Months Ended
Dec. 31, 2014
Discontinued Operations and Disposal Groups [Abstract]  
Hotel Dispositions
Hotel Dispositions
Effective January 1, 2014, we adopted the provisions of Accounting Standards Update No. 2014-08 (the Update), under which the disposal of components of an entity are reported as discontinued operations only if the disposal represents a strategic shift that has (or will have) a major effect on an entity’s operations and financial results. These new provisions are applied prospectively only, and, as such, hotels that were considered discontinued operations for the year ended December 31, 2013 and prior continue to be reported as discontinued operations in all periods presented.
During the year ended December 31, 2014, we sold eight hotels, one of which was previously held for sale at December 31, 2013, and disposed of five unconsolidated hotels when we unwound our joint ventures as discussed in Note 8. At December 31, 2014, we had two hotels held for sale, both of which have subsequently sold. We designate a hotel as held for sale when the sale is probable within the next 12 months. We consider a sale to be probable when a buyer completes its due diligence review, we have an executed contract for sale, and we have received a substantial non-refundable deposit. We included operations for 14 of the hotels (seven hotels sold not previously held for sale, five hotels disposed when we unwound certain joint ventures, and two hotels held for sale at December 31, 2014) in income (loss) from continuing operations as shown in the statements of operations for the years ended December 31, 2014, 2013 and 2012, as disposition of these hotels does not represent a strategic shift in our business.

The following table includes condensed financial information primarily from these 14 hotels (in thousands):
 
Year Ended December 31,
 
2014
 
2013
 
2012
Hotel operating revenue
$
99,084

 
 
$
146,519

 
 
$
142,108

 
Operating expenses (a)
(95,233
)
 
 
(169,160
)
 
 
(142,036
)
 
Operating income (loss)
3,851

 
 
(22,641
)
 
 
72

 
Interest expense, net
(1,488
)
 
 
(2,788
)
 
 
(3,074
)
 
Debt extinguishment
(920
)
 
 
—

 
 
(181
)
 
Gain on sale of investment in unconsolidated entities, net
30,176

 
 
—

 
 
—

 
Other gains, net
—

 
 
41

 
 
—

 
Equity in income from unconsolidated entities
1,513

 
 
1,491

 
 
524

 
Income (loss) from continuing operations
33,132

 
 
(23,897
)
 
 
(2,659
)
 
Gain on sale of hotels, net(b)
66,762

 
 
—

 
 
—

 
Net income (loss)
99,894

 
 
(23,897
)
 
 
(2,659
)
 
Net loss (income) attributable to noncontrolling interests in other partnerships
(1,464
)
 
 
3,830

 
 
(83
)
 
Net loss (income) attributable to redeemable noncontrolling interests in FelCor LP
(355
)
 
 
98

 
 
14

 
Net income (loss) attributable to FelCor
$
98,075

 
 
$
(19,969
)
 
 
$
(2,728
)
 
(a)
Operating expenses include impairment charges of $24.4 million for the year ended December 31, 2013.
(b)
Includes a $24.4 million gain from foreign currency translation (which we had previously recorded in accumulated other comprehensive income) when we sold our remaining Canadian hotel in the third quarter of 2014, which substantially liquidated all of our foreign investments.

7.
Hotel Dispositions — (continued)

Discontinued operations include the results of operations for one hotel sold in 2014 (which was held for sale at December 31, 2013, five hotels sold in 2013, and ten hotels sold in 2012. The following table summarizes the condensed financial information for those hotels (in thousands):
 
 
Year Ended December 31,
 
 
2014
 
2013
 
2012
Hotel operating revenue
 
$
730

 
 
$
33,849

 
 
$
107,637

Operating expenses(a)
 
(677
)
 
 
(34,553
)
 
 
(95,600
)
Operating income (loss) from discontinued operations
 
53

 
 
(704
)
 
 
12,037

Interest expense, net
 
(66
)
 
 
(793
)
 
 
(5,832
)
Debt extinguishment
 
(245
)
 
 
—

 
 
(2,767
)
Gain on involuntary conversion
 
—

 
 
66

 
 
—

Gain (loss) on sale, net
 
(102
)
 
 
19,441

 
 
54,459

Income (loss) from discontinued operations
 
$
(360
)
 
 
$
18,010

 
 
$
57,897

(a)
Operating expenses in discontinued operations include impairment charges of $4.4 million and $1.3 million for the years ended December 31, 2013 and 2012, respectively.