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Real Estate Properties (Tables)
 3 Months Ended
Mar. 31, 2017
Real Estate [Abstract]  
Schedule of allocation of the acquisition cost to the estimated fair value of assets acquired
Acquisition Date
 
Location
 
Purchase Price
 
Land
 
Land Improvements
 
Building and Improvements
 
Furniture, Fixtures and Equipment
 
Intangible Assets
2/1/2017
 
Chicago, IL (1)
 
$
86,201

 
$
13,609

 
$
40

 
$
58,929

 
$
11,926

 
$
1,697

3/31/2017
 
Seattle, WA (2)
 
71,748

 
24,127

 
30

 
46,306

 
844

 
441

 
 
 
 
$
157,949

 
$
37,736

 
$
70

 
$
105,235

 
$
12,770

 
$
2,138

(1)
On February 1, 2017, we acquired the 483 room Hotel Allegro in Chicago, IL for a purchase price of $86,201, including capitalized acquisition costs of $707. We added this Kimpton® branded hotel to our management agreement with InterContinental Hotels Group, plc, or InterContinental. See Note 8 for further information regarding our InterContinental agreement.
(2)
On March 31, 2017, we acquired the 121 room Hotel Alexis in Seattle, WA for a purchase price of $71,748 including capitalized acquisition costs of $123. We added this Kimpton® branded hotel to our management agreement with InterContinental. See Note 8 for further information regarding our InterContinental agreement.