FelCor LP's Consolidating Financial Information (Tables) - FelCor Lodging LP [Member]

12 Months Ended

Dec. 31, 2015

Condensed Financial Statements, Captions [Line Items]

Schedule of Condensed Balance Sheet

CONSOLIDATING BALANCE SHEET

December 31, 2015

(in thousands)

	FelCor LP			Subsidiary Guarantors			Non-Guarantor Subsidiaries		Eliminations			Total Consolidated
Net investment in hotels	$	—		$	625,835		$	1,103,696	$	—		$	1,729,531
Equity investment in consolidated entities	1,260,779			—			—		(1,260,779		)	—
Investment in unconsolidated entities	4,440			3,871			1,264		—			9,575
Cash and cash equivalents	21,219			34,294			4,273		—			59,786
Restricted cash	—			15,442			2,260		—			17,702
Accounts receivable, net	644			25,575			1,917		—			28,136
Deferred expenses, net	15,774			—			8,681		—			24,455
Other assets	3,587			8,786			2,419		—			14,792
Total assets	$	1,306,443		$	713,803		$	1,124,510	$	(1,260,779	)	$	1,883,977
Debt	$	1,000,000		$	—		$	467,390	$	(39,436	)	$	1,427,954
Distributions payable	15,016			—			124		—			15,140
Accrued expenses and other liabilities	26,810			83,787			14,677		—			125,274
Total liabilities	1,041,826			83,787			482,191		(39,436		)	1,568,368
Redeemable units, at redemption value	4,464			—			—		—			4,464
Preferred units	309,337			—			—		—			309,337
Common units	(49,184		)	630,833			590,510		(1,221,343		)	(49,184		)
Total FelCor LP partners’ capital	260,153			630,833			590,510		(1,221,343		)	260,153
Noncontrolling interests	—			(817		)	8,623		—			7,806
Preferred capital in consolidated joint venture	—			—			43,186		—			43,186
Total partners’ capital	260,153			630,016			642,319		(1,221,343		)	311,145
Total liabilities and partners’ capital	$	1,306,443		$	713,803		$	1,124,510	$	(1,260,779	)	$	1,883,977

26. FelCor LP's Consolidating Financial Information — (continued)

FELCOR LODGING LIMITED PARTNERSHIP

CONSOLIDATING BALANCE SHEET

December 31, 2014

(in thousands)

	FelCor LP			Subsidiary Guarantors			Non-Guarantor Subsidiaries		Eliminations			Total Consolidated
Net investment in hotels	$	—		$	757,694		$	842,097	$	—		$	1,599,791
Hotel development	—			—			297,466		—			297,466
Equity investment in consolidated entities	1,364,470			—			—		(1,364,470		)	—
Investment in unconsolidated entities	7,270			6,514			1,311		—			15,095
Hotels held for sale	—			—			47,145		—			47,145
Cash and cash equivalents	5,717			32,923			8,507		—			47,147
Restricted cash	—			12,199			8,297		—			20,496
Accounts receivable, net	963			26,343			499		—			27,805
Deferred expenses, net	17,203			—			8,624		—			25,827
Other assets	4,866			11,510			7,510		—			23,886
Total assets	$	1,400,489		$	847,183		$	1,221,456	$	(1,364,470	)	$	2,104,658
Debt	$	1,050,000		$	—		$	576,654	$	(40,787	)	$	1,585,867
Distributions payable	13,709			—			118		—			13,827
Accrued expenses and other liabilities	27,174			93,690			14,617		—			135,481
Total liabilities	1,090,883			93,690			591,389		(40,787		)	1,735,175
Redeemable units, at redemption value	6,616			—			—		—			6,616
Preferred units	478,749			—			—		—			478,749
Common units	(175,759		)	753,646			570,037		(1,323,683		)	(175,759		)
Total FelCor LP partners’ capital	302,990			753,646			570,037		(1,323,683		)	302,990
Noncontrolling interests	—			(153		)	18,588		—			18,435
Preferred capital in consolidated joint venture	—			—			41,442		—			41,442
Total partners’ capital	302,990			753,493			630,067		(1,323,683		)	362,867
Total liabilities and partners’ capital	$	1,400,489		$	847,183		$	1,221,456	$	(1,364,470	)	$	2,104,658

Schedule of Condensed Statement of Operations

CONDENSEDCONSOLIDATING STATEMENT OF OPERATIONS

For the Year Ended December 31, 2015

(in thousands)

	FelCor LP			Subsidiary Guarantors			Non-Guarantor Subsidiaries			Eliminations			Total Consolidated
Revenues:
Hotel operating revenue	$	—		$	878,371		$	—		$	—		$	878,371
Percentage lease revenue	—			—			126,867			(126,867		)	—
Other revenue	143			7,288			452			—			7,883
Total revenue	143			885,659			127,319			(126,867		)	886,254
Expenses:
Hotel operating expenses	—			572,259			—			—			572,259
Taxes, insurance and lease expense	490			163,550			22,034			(126,867		)	59,207
Corporate expenses	—			15,023			12,260			—			27,283
Depreciation and amortization	188			49,589			64,675			—			114,452
Impairment loss	—			20,861			—			—			20,861
Other expenses	3,995			7,451			1,033			—			12,479
Total operating expenses	4,673			828,733			100,002			(126,867		)	806,541
Operating income	(4,530		)	56,926			27,317			—			79,713
Interest expense, net	(57,062		)	13			(22,069		)	—			(79,118		)
Debt extinguishment	(28,459		)	—			(2,450		)	—			(30,909		)
Other gains, net	—			—			166			—			166
Loss before equity in income from unconsolidated entities	(90,051		)	56,939			2,964			—			(30,148		)
Equity in income from consolidated entities	73,274			—			—			(73,274		)	—
Equity in income from unconsolidated entities	8,368			(489		)	(46		)	—			7,833
Loss from continuing operations before income tax expense	(8,409		)	56,450			2,918			(73,274		)	(22,315		)
Income tax expense	(252		)	(993		)	—			—			(1,245		)
Loss from continuing operations	(8,661		)	55,457			2,918			(73,274		)	(23,560		)
Income from discontinued operations	—			2			667			—			669
Loss before gain on sale of hotels	(8,661		)	55,459			3,585			(73,274		)	(22,891		)
Gain on sale of hotels, net	(398		)	(82		)	19,906			—			19,426
Net loss	(9,059		)	55,377			23,491			(73,274		)	(3,465		)
Income attributable to noncontrolling interests	—			769			(4,926		)	—			(4,157		)
Preferred distributions - consolidated joint venture	—			—			(1,437		)	—			(1,437		)
Net loss attributable to FelCor LP	(9,059		)	56,146			17,128			(73,274		)	(9,059		)
Preferred distributions	(30,138		)	—			—			—			(30,138		)
Redemption of preferred units	(6,096		)	—			—			—			(6,096		)
Net loss attributable to FelCor LP common unitholders	$	(45,293	)	$	56,146		$	17,128		$	(73,274	)	$	(45,293	)

26. FelCor LP's Consolidating Financial Information — (continued)

FELCOR LODGING LIMITED PARTNERSHIP

CONDENSEDCONSOLIDATING STATEMENT OF OPERATIONS

For the Year Ended December 31, 2014

(in thousands)

	FelCor LP			Subsidiary Guarantors			Non-Guarantor Subsidiaries			Eliminations			Total Consolidated
Revenues:
Hotel operating revenue	$	—		$	917,981		$	—		$	—		$	917,981
Percentage lease revenue	4,181			—			91,176			(95,357		)	—
Other revenue	6			3,143			457			—			3,606
Total revenue	4,187			921,124			91,633			(95,357		)	921,587
Expenses:
Hotel operating expenses	—			606,113			—			—			606,113
Taxes, insurance and lease expense	1,267			158,550			19,806			(95,357		)	84,266
Corporate expenses	427			16,886			12,272			—			29,585
Depreciation and amortization	2,717			56,668			56,434			—			115,819
Other expenses	178			12,330			5,444			—			17,952
Total operating expenses	4,589			850,547			93,956			(95,357		)	853,735
Operating income	(402		)	70,577			(2,323		)	—			67,852
Interest expense, net	(71,024		)	(758		)	(18,913		)	—			(90,695		)
Debt extinguishment	(3,823		)	—			(947		)	—			(4,770		)
Gain on sale of investment in unconsolidated entities, net	30,176			—			—			—			30,176
Gain from remeasurement of unconsolidated entities, net	20,737			—			—			—			20,737
Other gains, net	—			100			—			—			100
Income before equity in income from unconsolidated entities	(24,336		)	69,919			(22,183		)	—			23,400
Equity in income from consolidated entities	113,267			—			—			(113,267		)	—
Equity in income from unconsolidated entities	4,682			374			(46		)	—			5,010
Income from continuing operations before income tax expense	93,613			70,293			(22,229		)	(113,267		)	28,410
Income tax expense	(134		)	(526		)	—			—			(660		)
Income from continuing operations	93,479			69,767			(22,229		)	(113,267		)	27,750
Loss from discontinued operations	—			27			(387		)	—			(360		)
Income before gain on sale of hotels	93,479			69,794			(22,616		)	(113,267		)	27,390
Gain on sale of hotels, net	(1,243		)	21,887			46,118			—			66,762
Net income	92,236			91,681			23,502			(113,267		)	94,152
Income attributable to noncontrolling interests	—			339			(1,036		)	—			(697		)
Preferred distributions - consolidated joint venture	—			—			(1,219		)	—			(1,219		)
Net income attributable to FelCor LP	92,236			92,020			21,247			(113,267		)	92,236
Preferred distributions	(38,712		)	—			—			—			(38,712		)
Net income attributable to FelCor LP common unitholders	$	53,524		$	92,020		$	21,247		$	(113,267	)	$	53,524

26. FelCor LP's Consolidating Financial Information — (continued)

FELCOR LODGING LIMITED PARTNERSHIP

CONDENSEDCONSOLIDATING STATEMENT OF OPERATIONS

For the Year Ended December 31, 2013

(in thousands)

	FelCor LP			Subsidiary Guarantors			Non-Guarantor Subsidiaries			Eliminations			Total Consolidated
Revenues:
Hotel operating revenue	$	—		$	890,006		$	—		$	—		$	890,006
Percentage lease revenue	5,041			—			90,500			(95,541		)	—
Other revenue	9			2,976			445			—			3,430
Total revenue	5,050			892,982			90,945			(95,541		)	893,436
Expenses:
Hotel operating expenses	—			600,931			—			—			600,931
Taxes, insurance and lease expense	1,946			171,215			17,922			(95,541		)	95,542
Corporate expenses	553			15,749			10,694			—			26,996
Depreciation and amortization	4,438			59,547			55,639			—			119,624
Conversion expenses	23			468			643			—			1,134
Impairment loss	14,294			—			10,147			—			24,441
Other expenses	3,179			3,166			2,404			—			8,749
Total operating expenses	24,433			851,076			97,449			(95,541		)	877,417
Operating income	(19,383		)	41,906			(6,504		)	—			16,019
Interest expense, net	(84,206		)	(1,270		)	(18,311		)	—			(103,787		)
Other gains, net	—			—			41			—			41
Loss before equity in income from unconsolidated entities	(103,589		)	40,636			(24,774		)	—			(87,727		)
Equity in income from consolidated entities	40,276			—			—			(40,276		)	—
Equity in income from unconsolidated entities	4,183			449			(46		)	—			4,586
Loss from continuing operations before income tax expense	(59,130		)	41,085			(24,820		)	(40,276		)	(83,141		)
Income tax expense	(132		)	(520		)	—			—			(652		)
Loss from continuing operations	(59,262		)	40,565			(24,820		)	(40,276		)	(83,793		)
Income from discontinued operations	(2,739		)	(1,495		)	22,244			—			18,010
Net loss	(62,001		)	39,070			(2,576		)	(40,276		)	(65,783		)
Loss attributable to noncontrolling interests	—			788			2,994			—			3,782
Net loss attributable to FelCor LP	(62,001		)	39,858			418			(40,276		)	(62,001		)
Preferred distributions	(38,713		)	—			—			—			(38,713		)
Net loss attributable to FelCor LP common unitholders	$	(100,714	)	$	39,858		$	418		$	(40,276	)	$	(100,714	)

Schedule of Condensed Statement of Comprehensive Income (Loss)

CONDENSED CONSOLIDATING STATEMENT OF COMPREHENSIVE LOSS

For the Year Ended December 31, 2015

(in thousands)

	FelCor LP			Subsidiary Guarantors		Non-Guarantor Subsidiaries			Eliminations			Total Consolidated
Net loss	$	(9,059	)	$	55,377	$	23,491		$	(73,274	)	$	(3,465	)
Foreign currency translation adjustment	—			—		—			—			—
Comprehensive loss	(9,059		)	55,377		23,491			(73,274		)	(3,465		)
Comprehensive income attributable to noncontrolling interests	—			769		(4,926		)	—			(4,157		)
Preferred distributions - consolidated joint venture	—			—		(1,437		)	—			(1,437		)
Comprehensive loss attributable to FelCor LP	$	(9,059	)	$	56,146	$	17,128		$	(73,274	)	$	(9,059	)

FELCOR LODGING LIMITED PARTNERSHIP

CONDENSED CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME

For the Year Ended December 31, 2014

(in thousands)

	FelCor LP			Subsidiary Guarantors			Non-Guarantor Subsidiaries			Eliminations			Total Consolidated
Net income	$	92,236		$	91,681		$	23,502		$	(113,267	)	$	94,152
Foreign currency translation adjustment	(490		)	(121		)	(369		)	490			(490		)
Reclassification of foreign currency translation to gain	(24,553		)	(4,448		)	(20,105		)	24,553			(24,553		)
Comprehensive income	67,193			87,112			3,028			(88,224		)	69,109
Comprehensive income attributable to noncontrolling interests	—			339			(1,036		)	—			(697		)
Preferred distributions - consolidated joint venture	—			—			(1,219		)	—			(1,219		)
Comprehensive income attributable to FelCor LP	$	67,193		$	87,451		$	773		$	(88,224	)	$	67,193

26. FelCor LP's Consolidating Financial Information — (continued)

FELCOR LODGING LIMITED PARTNERSHIP

CONDENSED CONSOLIDATING STATEMENT OF COMPREHENSIVE LOSS

For the Year Ended December 31, 2013

(in thousands)

	FelCor LP			Subsidiary Guarantors			Non-Guarantor Subsidiaries			Eliminations			Total Consolidated
Net loss	$	(62,001	)	$	39,070		$	(2,576	)	$	(40,276	)	$	(65,783	)
Foreign currency translation adjustment	(1,108		)	(213		)	(895		)	1,108			(1,108		)
Comprehensive loss	(63,109		)	38,857			(3,471		)	(39,168		)	(66,891		)
Comprehensive loss attributable to noncontrolling interests	—			788			2,994			—			3,782
Comprehensive loss attributable to FelCor LP	$	(63,109	)	$	39,645		$	(477	)	$	(39,168	)	$	(63,109	)

Schedule of Condensed Cash Flow Statement

CONDENSEDCONSOLIDATING STATEMENT OF CASH FLOWS

For the Year Ended December 31, 2015

(in thousands)

	FelCor LP			Subsidiary Guarantors			Non-Guarantor Subsidiaries			Eliminations			Total Consolidated
Operating activities:
Cash flows from operating activities	$	(56,183	)	$	123,894		$	76,898		$	—		$	144,609
Investing activities:
Improvements and additions to hotels	242			(42,039		)	(6,639		)	—			(48,436		)
Hotel development	—			—			(33,525		)	—			(33,525		)
Net proceeds from asset dispositions	(569		)	(659		)	189,177			—			187,949
Insurance proceeds	274			—			203			—			477
Change in restricted cash	—			(3,243		)	6,037			—			2,794
Distributions from unconsolidated entities	6,517			800			—			—			7,317
Contributions to unconsolidated entities	(15		)	—			—			—			(15		)
Intercompany financing	184,776			—			—			(184,776		)	—
Cash flows from investing activities	191,225			(45,141		)	155,253			(184,776		)	116,561
Financing activities:
Proceeds from borrowings	475,000			—			550,438			—			1,025,438
Repayment of borrowings	(545,453		)	—			(658,356		)	—			(1,203,809		)
Payment of deferred financing costs	(8,505		)	—			(6,447		)	—			(14,952		)
Distributions paid to noncontrolling interests	—			(444		)	(17,151		)	—			(17,595		)
Contributions from noncontrolling interests	—			548			2,261			—			2,809
Net proceeds from issuance of preferred equity-consolidated joint venture	—			—			1,744			—			1,744
Net proceeds from common stock issuance	198,648			—			—			—			198,648
Redemption of preferred stock	(169,986		)	—			—			—			(169,986		)
Repurchase of common stock	(14,362		)	—			—			—			(14,362		)
Distributions paid to preferred unitholders	(32,404		)	—			—			—			(32,404		)
Distributions paid to common unitholders	(22,385		)	—			—			—			(22,385		)
Intercompany financing	—			(77,333		)	(107,443		)	184,776			—
Other	(93		)	—			(1,431		)	—			(1,524		)
Cash flows used in financing activities	(119,540		)	(77,229		)	(236,385		)	184,776			(248,378		)
Effect of exchange rate changes on cash	—			(153		)	—			—			(153		)
Change in cash and cash equivalents	15,502			1,371			(4,234		)	—			12,639
Cash and cash equivalents at beginning of period	5,717			32,923			8,507			—			47,147
Cash and cash equivalents at end of period	$	21,219		$	34,294		$	4,273		$	—		$	59,786

26.    FelCor LP's Consolidating Financial Information — (continued)

FELCOR LODGING LIMITED PARTNERSHIP

CONDENSEDCONSOLIDATING STATEMENT OF CASH FLOWS

For the Year Ended December 31, 2014

(in thousands)

	FelCor LP			Subsidiary Guarantors			Non-Guarantor Subsidiaries			Eliminations			Total Consolidated
Operating activities:
Cash flows from operating activities	$	(65,903	)	$	128,716		$	42,005		$	—		$	104,818
Investing activities:
Improvements and additions to hotels	(135		)	(47,496		)	(36,033		)	—			(83,664		)
Hotel development	—			—			(86,565		)	—			(86,565		)
Net proceeds from asset dispositions	6,488			13,984			143,146			—			163,618
Proceeds from unconsolidated joint venture transaction	3,154			—			878			—			4,032
Insurance proceeds	—			521			—			—			521
Distributions from unconsolidated entities	7,472			5,356			—			—			12,828
Contributions to unconsolidated entities	(7		)	—			—			—			(7		)
Change in restricted cash - investing	—			(3,571		)	60,302			—			56,731
Intercompany financing	334,905			—			—			(334,905		)	—
Cash flows used in investing activities	351,877			(31,206		)	81,728			(334,905		)	67,494
Financing activities:
Proceeds from borrowings	—			—			473,062			—			473,062
Repayment of borrowings	(236,745		)	—			(386,361		)	—			(623,106		)
Payment of deferred financing costs	(4		)	—			(3,211		)	—			(3,215		)
Acquisition of noncontrolling interests	—			—			(5,850		)	—			(5,850		)
Distributions paid to noncontrolling interests	—			(850		)	(8,746		)	—			(9,596		)
Contributions from noncontrolling interests	—			1,265			5,110			—			6,375
Net proceeds from issuance of preferred equity-consolidated joint venture	—			—			41,442			—			41,442
Distributions paid to preferred unitholders	(38,712		)	—			—			—			(38,712		)
Distributions paid to common unitholders	(9,981		)	—			—			—			(9,981		)
Intercompany financing	—			(98,200		)	(236,705		)	334,905			—
Other	(42		)	—			(1,102		)	—			(1,144		)
Cash flows used in financing activities	(285,484		)	(97,785		)	(122,361		)	334,905			(170,725		)
Effect of exchange rate changes on cash	—			(85		)	—			—			(85		)
Change in cash and cash equivalents	490			(360		)	1,372			—			1,502
Cash and cash equivalents at beginning of period	5,227			33,283			7,135			—			45,645
Cash and cash equivalents at end of period	$	5,717		$	32,923		$	8,507		$	—		$	47,147

26. FelCor LP's Consolidating Financial Information — (continued)

FELCOR LODGING LIMITED PARTNERSHIP

CONDENSEDCONSOLIDATING STATEMENT OF CASH FLOWS

For the Year Ended December 31, 2013

(in thousands)

	FelCor LP			Subsidiary Guarantors			Non-Guarantor Subsidiaries			Eliminations			Total Consolidated
Operating activities:
Cash flows from operating activities	$	(55,959	)	$	96,365		$	28,055		$	—		$	68,461
Investing activities:
Improvements and additions to hotels	2,383			(52,258		)	(51,482		)	—			(101,357		)
Hotel development	—			—			(60,553		)	—			(60,553		)
Net proceeds from asset dispositions	9,650			(1,925		)	91,095			—			98,820
Distributions from unconsolidated entities	8,159			1,625			—			—			9,784
Contributions to unconsolidated entities	—			(1,500		)	—			—			(1,500		)
Intercompany financing	73,730			—			—			(73,730		)	—
Other	—			238			700			—			938
Cash flows from investing activities	93,922			(53,820		)	(20,240		)	(73,730		)	(53,868		)
Financing activities:
Proceeds from borrowings	—			—			164,000			—			164,000
Repayment of borrowings	—			—			(136,902		)	—			(136,902		)
Distributions paid to preferred unitholders	(38,713		)	—			—			—			(38,713		)
Intercompany financing	—			(40,454		)	(33,276		)	73,730			—
Other	(2,335		)	832			(1,510		)	—			(3,013		)
Cash flows used in financing activities	(41,048		)	(39,622		)	(7,688		)	73,730			(14,628		)
Effect of exchange rate changes on cash	—			(65		)	—			—			(65		)
Change in cash and cash equivalents	(3,085		)	2,858			127			—			(100		)
Cash and cash equivalents at beginning of period	8,312			30,425			7,008			—			45,745
Cash and cash equivalents at end of period	$	5,227		$	33,283		$	7,135		$	—		$	45,645