XML 14 R4.htm IDEA: XBRL DOCUMENT v3.24.2.u1
CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Jun. 30, 2024
Jun. 30, 2023
REVENUES        
Revenues $ 247,481 $ 276,112 $ 464,647 $ 519,555
OPERATING EXPENSES        
Advertising and promotion 12,974 13,897 25,106 26,919
Repairs and maintenance 8,979 9,606 17,689 19,052
Utilities 6,295 6,768 12,239 13,860
Franchise costs 4,819 4,560 9,024 8,478
Property tax, ground lease and insurance 19,984 19,378 38,909 38,611
Other property-level expenses 28,120 31,857 55,743 63,634
Corporate overhead 8,168 8,396 15,686 16,864
Depreciation and amortization 31,112 32,397 60,152 64,739
Total operating expenses 211,932 227,659 411,839 446,313
Interest and other income 3,503 4,639 8,956 5,180
Interest expense (12,693) (9,223) (23,703) (23,017)
Gain on sale of assets, net     457  
Gain on extinguishment of debt, net 38 12 59 9,921
Income before income taxes 26,397 43,881 38,577 65,326
Income tax (provision) benefit , net (255) (803) 600 (1,161)
Net Income 26,142 43,078 39,177 64,165
Preferred stock dividends (3,683) (3,768) (7,366) (7,536)
Income Attributable to Common Stockholders $ 22,459 $ 39,310 $ 31,811 $ 56,629
Basic and diluted per share amounts:        
Basic income attributable to common stockholders per common share (in dollars per share) $ 0.11 $ 0.19 $ 0.16 $ 0.27
Diluted income attributable to common stockholders per common share (in dollars per share) $ 0.11 $ 0.19 $ 0.16 $ 0.27
Basic weighted average common shares outstanding (in shares) 202,758 206,181 202,695 206,606
Diluted weighted average common shares outstanding (in shares) 203,455 206,828 203,227 207,095
Room        
REVENUES        
Revenues $ 151,296 $ 173,399 $ 287,111 $ 325,837
OPERATING EXPENSES        
Expenses 37,345 42,658 72,896 81,722
Food and beverage        
REVENUES        
Revenues 71,367 78,815 132,706 149,627
OPERATING EXPENSES        
Expenses 47,742 51,997 92,057 100,532
Other operating        
REVENUES        
Revenues 24,818 23,898 44,830 44,091
OPERATING EXPENSES        
Expenses $ 6,394 $ 6,145 $ 12,338 $ 11,902