Hotel Dispositions

3 Months Ended

Mar. 31, 2017

Discontinued Operations and Disposal Groups [Abstract]

Hotel Dispositions

Hotel Dispositions

In 2016, we sold two hotels. We included operations for the sold hotels in income (loss) from continuing operations as shown in the statements of operations and comprehensive income (loss) for the three months ended March 31, 2016, as disposition of these hotels did not represent a strategic shift in our business. Additionally, we included selling costs, which we expense as they are incurred, in the gain (loss) on the sale of hotels.

We designate a hotel as held for sale when the sale is probable within the next twelve months. Generally, 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. There were no hotels held for sale at March 31, 2017 or 2016.

Subsequent to March 31, 2017, two hotels became held for sale, both of which are expected to close in the third quarter. Based on the expected selling costs for the transactions, we estimate additional impairments of $9.5 million in the second quarter of 2017.

The following table includes condensed financial information primarily related to hotels sold in 2016 included in continuing operations (in thousands):

	Three Months Ended March 31,
	2017			2016
Hotel operating revenue	$	274		$	19,017
Operating expenses	(128		)	(14,652		)
Operating income from continuing operations	146			4,365
Loss on sale of hotels	(666		)	(714		)
Net income (loss)	(520		)	3,651
Net loss (income) attributable to redeemable noncontrolling interests in FelCor LP	3			(16		)
Net income (loss) attributable to FelCor	$	(517	)	$	3,635