XML 14 R4.htm IDEA: XBRL DOCUMENT v2.4.1.9
Consolidated Statements of Operations and Comprehensive Loss (USD $)
In Thousands, except Share data, unless otherwise specified
3 Months Ended
Mar. 31, 2015
Mar. 31, 2014
Hotel operating revenues:    
Room $ 170,591us-gaap_OccupancyRevenue $ 147,967us-gaap_OccupancyRevenue
Food and beverage 60,915us-gaap_FoodAndBeverageRevenue 54,115us-gaap_FoodAndBeverageRevenue
Other operating department 18,017us-gaap_OtherHotelOperatingRevenue 15,025us-gaap_OtherHotelOperatingRevenue
Total hotel operating revenues 249,523us-gaap_RevenueFromLeasedAndOwnedHotels 217,107us-gaap_RevenueFromLeasedAndOwnedHotels
Other income 1,280us-gaap_OtherOperatingIncome 1,757us-gaap_OtherOperatingIncome
Total revenues 250,803us-gaap_Revenues 218,864us-gaap_Revenues
Hotel operating expenses:    
Room 48,721us-gaap_OccupancyCosts 43,684us-gaap_OccupancyCosts
Food and beverage 45,118us-gaap_FoodAndBeverageCostOfSales 41,700us-gaap_FoodAndBeverageCostOfSales
Other direct 3,920us-gaap_OtherDirectCostsOfHotels 5,181us-gaap_OtherDirectCostsOfHotels
Other indirect (Note 8) 70,002us-gaap_OtherCostAndExpenseOperating 60,423us-gaap_OtherCostAndExpenseOperating
Total hotel operating expenses 167,761us-gaap_DirectCostsOfHotels 150,988us-gaap_DirectCostsOfHotels
Depreciation and amortization 42,878us-gaap_DepreciationAndAmortization 37,760us-gaap_DepreciationAndAmortization
Real estate taxes, personal property taxes and insurance 15,934us-gaap_RealEstateTaxesAndInsurance 14,954us-gaap_RealEstateTaxesAndInsurance
Ground rent (Note 5) 3,662us-gaap_LeaseAndRentalExpense 2,933us-gaap_LeaseAndRentalExpense
General and administrative 6,267us-gaap_GeneralAndAdministrativeExpense 5,492us-gaap_GeneralAndAdministrativeExpense
Acquisition transaction costs (Note 3) 447us-gaap_BusinessCombinationAcquisitionRelatedCosts 107us-gaap_BusinessCombinationAcquisitionRelatedCosts
Other expenses 2,345us-gaap_OtherExpenses 3,207us-gaap_OtherExpenses
Total operating expenses 239,294us-gaap_CostsAndExpenses 215,441us-gaap_CostsAndExpenses
Operating income 11,509us-gaap_OperatingIncomeLoss 3,423us-gaap_OperatingIncomeLoss
Interest income 6us-gaap_InvestmentIncomeInterest 1,789us-gaap_InvestmentIncomeInterest
Interest expense (13,645)us-gaap_InterestExpense (13,988)us-gaap_InterestExpense
Loss from extinguishment of debt (Note 4) 0us-gaap_GainsLossesOnExtinguishmentOfDebt (2,487)us-gaap_GainsLossesOnExtinguishmentOfDebt
Loss before income tax benefit (2,130)us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments (11,263)us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
Income tax benefit (Note 9) 4,868us-gaap_IncomeTaxExpenseBenefit 6,392us-gaap_IncomeTaxExpenseBenefit
Net income (loss) 2,738us-gaap_ProfitLoss (4,871)us-gaap_ProfitLoss
Noncontrolling interests of common units in Operating Partnership (Note 6) (15)us-gaap_NoncontrollingInterestInNetIncomeLossOperatingPartnershipsRedeemable 6us-gaap_NoncontrollingInterestInNetIncomeLossOperatingPartnershipsRedeemable
Net income (loss) attributable to the Company 2,723us-gaap_NetIncomeLoss (4,865)us-gaap_NetIncomeLoss
Distributions to preferred shareholders (3,042)us-gaap_PreferredStockDividendsIncomeStatementImpact (4,107)us-gaap_PreferredStockDividendsIncomeStatementImpact
Net loss attributable to common shareholders (319)us-gaap_NetIncomeLossAvailableToCommonStockholdersBasic (8,972)us-gaap_NetIncomeLossAvailableToCommonStockholdersBasic
Earnings per Common Share - Basic:    
Net loss attributable to common shareholders excluding amounts attributable to unvested restricted shares $ 0.00us-gaap_EarningsPerShareBasic $ (0.09)us-gaap_EarningsPerShareBasic
Earnings per Common Share - Diluted:    
Net loss attributable to common shareholders excluding amounts attributable to unvested restricted shares $ 0.00us-gaap_EarningsPerShareDiluted $ (0.09)us-gaap_EarningsPerShareDiluted
Weighted average number of common shares outstanding:    
Basic 112,647,715us-gaap_WeightedAverageNumberOfSharesOutstandingBasic 103,691,657us-gaap_WeightedAverageNumberOfSharesOutstandingBasic
Diluted 112,647,715us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding 103,691,657us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding
Comprehensive Loss:    
Net income (loss) 2,738us-gaap_ProfitLoss (4,871)us-gaap_ProfitLoss
Other comprehensive loss:    
Unrealized (loss) gain on interest rate derivative instruments (Note 4) (4,398)us-gaap_OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodNetOfTax 111us-gaap_OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodNetOfTax
Reclassification adjustment for amounts recognized in net income (loss) (Note 4) 1,070us-gaap_OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIOnDerivativesNetOfTax (1,083)us-gaap_OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIOnDerivativesNetOfTax
Comprehensive loss (590)us-gaap_ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest (5,843)us-gaap_ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest
Noncontrolling interests of common units in Operating Partnership (Note 6) (6)lho_ComprehensiveIncomeLossNetOfTaxAttributableToNoncontrollingInterestOperatingPartnerships 9lho_ComprehensiveIncomeLossNetOfTaxAttributableToNoncontrollingInterestOperatingPartnerships
Comprehensive loss attributable to the Company $ (596)us-gaap_ComprehensiveIncomeNetOfTax $ (5,834)us-gaap_ComprehensiveIncomeNetOfTax