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CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2016
Jun. 30, 2015
Jun. 30, 2016
Jun. 30, 2015
REVENUES        
Room $ 224,176 $ 239,678 $ 411,473 $ 432,969
Food and beverage 81,298 79,265 152,532 151,449
Other operating 16,686 20,324 32,447 39,234
Total revenues 322,160 339,267 596,452 623,652
OPERATING EXPENSES        
Room 54,517 57,568 105,561 111,410
Food and beverage 52,939 52,812 104,868 103,031
Other operating 4,132 5,337 8,188 10,468
Advertising and promotion 15,277 15,567 30,270 30,927
Repairs and maintenance 10,999 11,381 22,263 22,939
Utilities 7,348 8,377 14,862 17,362
Franchise costs 9,898 10,818 17,994 19,418
Property tax, ground lease and insurance 18,157 23,151 40,997 46,764
Property general and administrative 37,982 37,107 72,695 71,556
Corporate overhead 6,809 6,923 13,526 21,176
Depreciation and amortization 40,680 40,873 80,727 81,580
Total operating expenses 258,738 269,914 511,951 536,631
Operating income 63,422 69,353 84,501 87,021
Interest and other income 355 1,828 844 2,774
Interest expense (15,872) (17,289) (35,882) (34,615)
Loss on extinguishment of debt (154) (2) (259) (2)
Gain on sale of assets 18,223   18,223  
Income before income taxes 65,974 53,890 67,427 55,178
Income tax provision (238) (233) (475) (318)
NET INCOME 65,736 53,657 66,952 54,860
Income from consolidated joint ventures attributable to noncontrolling interests (1,655) (2,480) (3,305) (4,661)
Preferred stock dividends and redemption charge (6,783) (2,300) (9,549) (4,600)
INCOME ATTRIBUTABLE TO COMMON STOCKHOLDERS 57,298 48,877 54,098 45,599
COMPREHENSIVE INCOME 65,736 53,657 66,952 54,860
COMPREHENSIVE INCOME ATTRIBUTABLE TO COMMON STOCKHOLDERS $ 57,298 $ 48,877 $ 54,098 $ 45,599
Basic and diluted per share amounts:        
Basic and diluted income attributable to common stockholders per common share (in dollars per share) $ 0.26 $ 0.23 $ 0.25 $ 0.22
Basic and diluted weighted average common shares outstanding (in shares) 215,385 207,577 214,136 207,091
Distributions declared per common share (in dollars per share) $ 0.05 $ 0.05 $ 0.10 $ 0.10