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Consolidated Statements of Operations and Comprehensive Income (Unaudited) - 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 $ 237,340 $ 214,991 $ 443,490 $ 407,004
Other 20,296 19,383 38,633 37,722
Total revenue 257,636 234,374 482,123 444,726
Expenses:        
Operating 61,459 57,152 118,288 111,757
Hotel administrative 18,857 17,408 37,055 34,564
Sales and marketing 19,896 17,880 37,915 34,978
Utilities 7,719 7,559 15,319 15,717
Repair and maintenance 9,605 9,357 18,689 18,526
Franchise fees 10,933 9,887 20,378 18,709
Management fees 8,947 8,085 16,984 15,590
Property taxes, insurance and other 13,076 11,716 25,528 23,277
Ground lease 2,506 2,507 4,972 5,008
General and administrative 5,060 3,699 9,888 9,246
Transaction costs 1,116 5,825 1,409 7,049
Depreciation 33,824 31,135 67,308 61,854
Total expenses 192,998 182,210 373,733 356,275
Operating income 64,638 52,164 108,390 88,451
Interest and other expense, net (9,560) (7,226) (18,363) (14,963)
Gain (loss) on sale of real estate 0 (271) 0 15,358
Income before income taxes 55,078 44,667 90,027 88,846
Income tax expense (360) (422) (623) (734)
Net income 54,718 44,245 89,404 88,112
Other comprehensive income (loss):        
Unrealized loss on interest rate derivatives (5,501) (185) (12,195) (459)
Cash flow hedge losses reclassified to earnings 0 785 0 785
Comprehensive income $ 49,217 $ 44,845 $ 77,209 $ 88,438
Basic and diluted net income per common share (in Dollars per share) $ 0.31 $ 0.24 $ 0.51 $ 0.47
Weighted average common shares outstanding - basic and diluted (in Shares) 174,667 185,351 174,667 185,896