XML 15 R4.htm IDEA: XBRL DOCUMENT v3.5.0.2
Consolidated Statements Of Operations - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2016
Jun. 30, 2015
Jun. 30, 2016
Jun. 30, 2015
Revenue:        
Hotel Operating Revenues $ 127,629 $ 127,000 $ 234,476 $ 222,688
Other Revenues 94 30 100 54
Total Revenues 127,723 127,030 234,576 222,742
Operating Expenses:        
Hotel Operating Expenses 65,900 64,134 131,618 121,489
Hotel Ground Rent 892 727 1,785 1,455
Real Estate and Personal Property Taxes and Property Insurance 7,949 8,222 17,105 16,492
General and Administrative (including Share Based Payments of $1,873 and $1,655 and $4,279 and $3,194 for the three and six months ended June 30, 2016 and 2015, respectively) 6,455 5,423 11,855 9,770
Acquisition and Terminated Transaction Costs 55 190 1,563 308
Depreciation and Amortization 18,495 18,328 38,555 36,581
Total Operating Expenses 99,746 97,024 202,481 186,095
Operating Income 27,977 30,006 32,095 36,647
Interest Income 78 51 124 99
Interest Expense (11,281) (10,688) (23,502) (21,323)
Other Expense 633 156 739 325
Gain on Disposition of Hotel Properties 95,276   95,276  
Loss on Debt Extinguishment (1,049) (222) (1,091) (222)
Income Before Income from Unconsolidated Joint Venture Investments and Income Taxes 110,368 18,991 102,163 14,876
Income from Unconsolidated Joint Venture Investments 1,521 526 1,307 252
Income Before Income Taxes 111,889 19,517 103,470 15,128
Income Tax Benefit 3,070 109 3,070 109
Income from Continuing Operations 114,959 19,626 106,540 15,237
Net Income 114,959 19,626 106,540 15,237
(Income) Loss Allocated to Noncontrolling Interests (4,748) (405) (4,061) 38
Preferred Distributions (4,000) (3,589) (7,589) (7,178)
Extinguishment of Issuance Costs Upon Redemption of Series B Preferred Shares (4,021)   (4,021)  
Net Income Applicable to Common Shareholders $ 102,190 $ 15,632 $ 90,869 $ 8,097
BASIC        
Net Loss Applicable to Common Shareholders $ 2.35 $ 0.32 $ 2.06 $ 0.16
DILUTED        
Net Loss Applicable to Common Shareholders $ 2.33 $ 0.32 $ 2.04 $ 0.16
Weighted Average Common Shares Outstanding:        
Basic 43,427,726 48,530,716 43,903,526 49,053,846
Diluted [1] 43,863,577 49,043,914 44,384,969 49,576,322
[1] Income (loss) allocated to noncontrolling interest in HHLP has been excluded from the numerator and Common Units and Vested LTIP Units have been omitted from the denominator for the purpose of computing diluted earnings per share since including these amounts in the numerator and denominator would have no impact. In addition, potentially dilutive common shares, if any, have been excluded from the denominator if they are anti-dilutive to income (loss) applicable to common shareholders.