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Condensed Consolidated Statements of Operations - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2015
Sep. 30, 2014
Sep. 30, 2015
Sep. 30, 2014
Revenues:        
Rooms $ 178,529 $ 171,047 $ 504,729 $ 465,871
Food and beverage 47,256 45,504 155,662 146,297
Other 12,717 12,666 36,801 37,067
Total revenues 238,502 229,217 697,192 649,235
Operating Expenses:        
Rooms 42,415 42,534 122,872 121,783
Food and beverage 32,143 32,662 103,044 101,855
Management fees 7,562 8,330 22,665 22,083
Other hotel expenses 83,358 75,180 237,410 220,335
Depreciation and amortization 25,107 25,327 75,018 75,576
Impairment losses 0 0 10,461 0
Hotel acquisition costs 453 1,198 945 1,279
Corporate expenses 6,048 6,368 17,790 15,878
Gain on insurance proceeds 0 (554) 0 (1,825)
Gain on litigation settlement, net 0 0 0 (10,999)
Total operating expenses, net 197,086 191,045 590,205 545,965
Operating profit 41,416 38,172 106,987 103,270
Interest income (35) (156) (185) (2,766)
Interest expense 12,907 14,691 38,963 43,816
Loss (Gain) on sale of hotel property 0 40 0 (1,251)
Gain on hotel property acquisition 0 (23,894) 0 (23,894)
Gain on prepayment of note receivable 0 0 0 (13,550)
Other income, net (91) (50) (295) (50)
Total other expenses (income), net 12,781 (9,369) 38,483 2,305
Income before income taxes 28,635 47,541 68,504 100,965
Income tax expense (4,171) (3,733) (8,576) (1,203)
Net income $ 24,464 $ 43,808 $ 59,928 $ 99,762
Earnings per share:        
Basic earnings per share (in dollars per share) $ 0.12 $ 0.22 $ 0.30 $ 0.51
Diluted earnings per share (in dollars per share) $ 0.12 $ 0.22 $ 0.30 $ 0.51