XML 44 R4.htm IDEA: XBRL DOCUMENT v2.4.0.6
CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS) (USD $)
In Thousands, except Per Share data, unless otherwise specified
3 Months Ended
Mar. 31, 2013
Mar. 31, 2012
REVENUES    
Room $ 132,623 $ 119,622
Food and beverage 49,628 46,835
Other operating 12,670 11,777
Total revenues 194,921 178,234
OPERATING EXPENSES    
Room 37,454 33,436
Food and beverage 35,096 32,850
Other operating 4,242 3,894
Advertising and promotion 11,265 9,901
Repairs and maintenance 8,374 7,483
Utilities 6,183 6,004
Franchise costs 6,478 5,971
Property tax, ground lease and insurance 18,468 15,554
Property general and administrative 23,606 21,910
Corporate overhead 6,171 5,198
Depreciation and amortization 34,016 30,882
Total operating expenses 191,353 173,083
Operating income 3,568 5,151
Interest and other income 563 63
Interest expense (17,414) (19,359)
Loss on extinguishment of debt (44) (191)
Loss before income taxes and discontinued operations (13,327) (14,336)
Income tax provision (6,157)  
Loss from continuing operations (19,484) (14,336)
Income from discontinued operations 48,410 1,368
NET INCOME (LOSS) 28,926 (12,968)
Income from consolidated joint venture attributable to non-controlling interest (297) (560)
Distributions to non-controlling interest (8) (8)
Preferred stock dividends and redemption charge (10,903) (7,437)
Undistributed income allocated to unvested restricted stock compensation (218) 0
INCOME AVAILABLE (LOSS ATTRIBUTABLE) TO COMMON STOCKHOLDERS 17,500 (20,973)
COMPREHENSIVE INCOME AVAILABLE (LOSS ATTRIBUTABLE) TO COMMON STOCKHOLDERS $ 17,500 $ (20,973)
Basic and diluted per share amounts:    
Loss from continuing operations attributable to common stockholders (in dollars per share) $ (0.20) $ (0.19)
Income from discontinued operations (in dollars per share) $ 0.32 $ 0.01
Basic and diluted income available (loss attributable) to common stockholders per common share (in dollars per share) $ 0.12 $ (0.18)
Basic and diluted weighted average common shares outstanding (in shares) 151,076 117,426