XML 85 R64.htm IDEA: XBRL DOCUMENT v3.8.0.1
Business and Property Management Agreements with RMR LLC (Details)
$ in Thousands
12 Months Ended
Dec. 31, 2017
USD ($)
employee
agreement
Dec. 31, 2016
USD ($)
shares
Dec. 31, 2015
USD ($)
Real Estate Properties [Line Items]      
Entity number of employees | employee 0    
RMR LLC      
Real Estate Properties [Line Items]      
Property management fees percentage of gross collected rents 3.00%    
Construction supervision fees as percentage of construction costs 5.00%    
Shares issued under management agreement (in shares) | shares   63,119  
RMR LLC | Amended and restated business management agreement      
Real Estate Properties [Line Items]      
Number of management agreements | agreement 2    
Base management fee payable as a percentage of average historical cost of the real estate investments, excluding transferred assets for investments up to a specific amount 0.70%    
Base management fee payable as percentage of aggregate book value of real estate assets or transferred assets $ 250,000    
Base management fee payable as percentage of average historical cost of real estate investments excluding transferred assets for investments exceeding specified amount 0.50%    
Base management fee payable as percentage of average closing stock price on stock exchange 0.70%    
Base management fee payable as percentage of average market capitalization exceeding specified amount 0.50%    
Incentive fee as percentage of product of weighted average common shares outstanding 12.00%    
Incentive fee, consecutive trading days for share price multiplier 10 days    
Incentive fee, final trading days of relevant measurement period 30 days    
Period of measurement 2 years    
Percentage of shares issued in payment of incentive management fees 1.50%    
Business management fees $ 40,694 $ 36,802 $ 37,331
Incentive fee paid 74,573 52,407 62,263
Property Management and Construction Management fees recognized 45 64 33
Related party reimbursement expense $ 206 171 134
RMR LLC | Amended and restated business management agreement | Minimum      
Real Estate Properties [Line Items]      
Basis points on adjusted management fee below SNL US REIT Hotel Index 0.0200    
RMR LLC | Amended and restated business management agreement | Maximum      
Real Estate Properties [Line Items]      
Base management fee payable, average market capitalization $ 250,000    
Base management fee payable, threshold amount of other real estate investments $ 250,000    
Basis points on adjusted management fee below SNL US REIT Hotel Index 0.0500    
Internal audit expense | RMR LLC      
Real Estate Properties [Line Items]      
Management agreement, Internal audit cost $ 276 235 $ 254
Up C Transaction | RMR LLC      
Real Estate Properties [Line Items]      
Recognized amortization of liability $ 3,585 $ 3,585  
Up C Transaction | RMR LLC | Amended and restated business management agreement      
Real Estate Properties [Line Items]      
Window for providing notice of termination of property management agreement for performance by the related party 60 days    
Window providing notice of termination of property management agreement after change of control by related party 12 months    
Termination fee remaining term assumption 10 years    
Period over which transition services will be provided by the related party after termination of the agreement 120 days    
Up C Transaction | RMR LLC | Amended and restated business management agreement | Minimum      
Real Estate Properties [Line Items]      
Termination fee term 19 years    
Up C Transaction | RMR LLC | Amended and restated business management agreement | Maximum      
Real Estate Properties [Line Items]      
Termination fee term 20 years