XML 40 R4.htm IDEA: XBRL DOCUMENT v3.19.3
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2019
Sep. 30, 2018
Sep. 30, 2019
Sep. 30, 2018
Revenues:        
Total revenues $ 379,787 $ 292,249 $ 1,158,281 $ 914,553
Operating expenses:        
Total hotel operating expenses 225,696 177,776 680,424 549,515
Corporate 9,404 7,212 26,518 23,181
Preopening costs 164 300 2,274 3,972
Depreciation and amortization 53,998 30,994 160,560 89,655
Impairment charges   4,540   4,540
Total operating expenses 323,284 252,149 962,498 751,810
Operating income 56,503 40,100 195,783 162,743
Interest expense (35,261) (19,220) (100,840) (55,574)
Interest income 2,878 2,678 8,756 8,197
Loss on extinguishment of debt (494)   (494)  
Loss from joint ventures (308) (985) (475) (2,227)
Other gains and (losses), net 1,109 1,881 857 2,085
Income before income taxes 24,427 24,454 103,587 115,224
Provision for income taxes (3,537) (1,863) (13,743) (9,748)
Net Income 20,890 22,591 89,844 105,476
Net loss attributable to noncontrolling interest in consolidated joint venture 1,459   11,296  
Net income available to common stockholders $ 22,349 $ 22,591 $ 101,140 $ 105,476
Basic income per share $ 0.43 $ 0.44 $ 1.97 $ 2.06
Diluted income per share 0.43 0.44 1.95 2.05
Dividends declared per common share $ 0.90 $ 0.85 $ 2.70 $ 2.55
Comprehensive income, net of taxes $ 13,297 $ 26,030 $ 82,458 $ 109,077
Comprehensive loss, net of taxes, attributable to noncontrolling interest (3,353)   (13,190)  
Comprehensive income, net of taxes, available to common stockholders 16,650 26,030 95,648 109,077
Rooms [Member]        
Revenues:        
Total revenues 134,950 103,181 411,866 332,490
Operating expenses:        
Total hotel operating expenses 37,116 29,563 108,184 88,550
Food and Beverage [Member]        
Revenues:        
Total revenues 155,173 118,496 499,346 392,488
Operating expenses:        
Total hotel operating expenses 88,584 67,305 270,623 211,677
Hotel, Other [Member]        
Revenues:        
Total revenues 38,134 27,563 111,684 81,129
Operating expenses:        
Total hotel operating expenses 91,608 74,350 273,074 226,965
Management Fees [Member]        
Operating expenses:        
Total hotel operating expenses 8,388 6,558 28,543 22,323
Entertainment [Member]        
Revenues:        
Total revenues 51,530 43,009 135,385 108,446
Operating expenses:        
Total hotel operating expenses $ 34,022 $ 31,327 $ 92,722 $ 80,947